"SHOW ME THE MONEY" VIEWS on HOW to make MONEY GR

[MJZiggy]

I need a new credit card. Is there any type of site anywhere that you can compare the terms, fees, rates, etc. of different companies? I'm mainly interested in the fees and I usually don't carry a balance.

[BallHawk]

I need a new credit card. Is there any type of site anywhere that you can compare the terms, fees, rates, etc. of different companies? I'm mainly interested in the fees and I usually don't carry a balance.

Hope this site helps.

http://www.e-wisdom.com/credit_cards/

[Bretsky]

If you had a small company that sells insurance in Milwaukee right now, what would could be done to improve business and get more customers? With all the advertising progressive and geico do(despite them being terrible insurance companies), it is tough to gain and keep clients these days. What are some good ways to increase traffic?

Cold calls; more cold calls. And more cold calls. It's not fun, but that's the way to build an insurance company......well that..along with being reliable and getting people to trust in you

What is a cold call? How did you build your client base for mortgages? I would imagine in sales you would want to start as young as you can to get as many clients as you can.

For insurance I'd consider a cold call to call people you know, or don't, and try to solicit business.

For my client base in mortgages, I've did my best to tell everybody who knows me on a personal level that I'm the home loan guy in the area. Then I've introduced myself to business community leaders and market to real estate agents on a consistent basis.

But most importantly, I've established a reputation for being an honest guy who is fair with people and that gets me referrals from past clients.

[Bretsky]

If you had a small company that sells insurance in Milwaukee right now, what would could be done to improve business and get more customers? With all the advertising progressive and geico do(despite them being terrible insurance companies), it is tough to gain and keep clients these days. What are some good ways to increase traffic?

Cold calls; more cold calls. And more cold calls. It's not fun, but that's the way to build an insurance company......well that..along with being reliable and getting people to trust in you

What is a cold call? How did you build your client base for mortgages? I would imagine in sales you would want to start as young as you can to get as many clients as you can.

In my first sales job, fresh out of college, I was a part time insurance agent.

My first assignment was to list 200 adults I knew. Then I called them at home and introduced myself as

Brett ......... from ..........name of insurance company, and I'd like to talk with you about a unique way of accumulating money...etc....would an afternoon or evening meeting work best for you.


THAT IS A TRUE COLD CALL; NOT A LOT OF FUN if you think about it.

But many companies are out there doing this.

[Partial]

Do you guys think small market insurance agency's are going to be around in 15 years (or even 30,40,50 etc)?

I think like everything else it is just a matter of time before the big business gets to them.

I am in line to take over the family insurance agency but with business slowing down over the past 2-3 years I think it is starting to go the way of the buffalo.

I was thinking running that and maybe building and managing an apartment building(5-10 apts) would be a sweet deal. However, then I thought about the cost of buying that much land and building that big of a building, and realized I don't have a few million sitting around.

[Partial]

So, I am thinking about opening up a no interest credit card for a year. I would have no problem paying off whatever I put on it, so I am not at all concerned about that.

What am I concerned about is cancelling the card. I have a few active cards right now (all cut up, I don't pay in credit, I simply used them for the interest free financing in the past). Will it negatively affect me by canceling them? Will it negatively affect me to have 10-12k in available credit? In theory, with how many cards there are like this available, couldn't I do this repeatedly and essentially get free money by keeping my money in the bank accumulating interest (albeit a small amount)?

I want to have the best possible credit a few years from now when house and engagement ring buying time comes around.

[the_idle_threat]

A large part of your credit score is determined by a ratio of the amount of credit you are using vs. how much available credit you have. It figures that if you have a lot of available credit line and you use relatively little of it, you must be responsible with credit. Since old, unused credit accounts are extra available credit, they help your credit score. Closing them hurts your credit score by reducing the denominator in the ratio.

You credit score also takes into account (to a lesser degree) the age of your accounts, including an average age of credit accounts. So opening one new account will lower the average, and your score, but as the new account gets to be an old account this effect will fade. If you were to open a lot of new accounts in a short time, though, or continually open new accounts, your score would drop much more.

All this I know from listening to Clark Howard, and also by going to this site (which I found linked from clarkhoward.com):

http://www.myfico.com/Downloads/Brochures.aspx#uycs

[MadtownPacker]

IDLE gots it right. The more that is available to you and you dont use makes you look good. It sounds like you are trying to crank up your score then you should get the no interest card and pay everything you can with it (gas, phone, etc) then pay it off every month.

[Freak Out]

IDLE gots it right. The more that is available to you and you dont use makes you look good. It sounds like you are trying to crank up your score then you should get the no interest card and pay everything you can with it (gas, phone, etc) then pay it off every month.

The thing you have to remember about available credit is it can stop you from getting a traditional loan/mortgage until you cancel the cards/accounts.

[MadtownPacker]

This chump aint buying a house anytime soon. He is waiting on his girllfriend to come back from Florida. But by now she has found some rich Florida stud who doesnt wear glasses and has good credit.

[Freak Out]

This chump aint buying a house anytime soon. He is waiting on his girllfriend to come back from Florida. But by now she has found some rich Florida stud who doesnt wear glasses and has good credit.

I know this is just your way of showing you care about him.

[Partial]

What are the tax benefits of a single-person llc?

From what I gather, I would pay tax up front at 15.3% of my income.

From that, I can deduct the 7.6% from my taxes, and then deduct any llc related expenses, so if I had to buy a computer, or a big screen for presentations, etc.

I've been researching and I'm not really seeing the benefit myself, but I hear there are some loopholes. Any thoughts?

[retailguy]

What are the tax benefits of a single-person llc?

There aren't any. The main benefit of a single owner LLC is limited liability. In fact, you file a single owner LLC on a schedule C, just like a sole proprietor.

From what I gather, I would pay tax up front at 15.3% of my income.

Yes, after the 1st $430 or so, up to the 2009 maximum which is $106,800. Please note that this is Social Security tax. You would pay income tax above and beyond this 15.3%.

From that, I can deduct the 7.6% from my taxes, and then deduct any llc related expenses, so if I had to buy a computer, or a big screen for presentations, etc.

This is not a valid reason to start an LLC. Not sure what you mean by 7.6% from your taxes.

You would start an LLC to form a business, but trying to deduct a big screen or computer without any bonified income stream is just asking for problems.

I've been researching and I'm not really seeing the benefit myself, but I hear there are some loopholes. Any thoughts?

Give up on the idea of "loopholes". If you want to start a business, yes, you can do that, but trying to find ways to not pay taxes is in most cases illegal, and will just wind up with you spending more money in the long run.

Keep this in mind - many have come before you and what you are "thinking of" has already been tried.

If you want to start a legitimate business and you want to give yourself limited liability, I usually suggest an s-corp. I like that vehicle much better for a single owner business than an LLC. Some do, some don't, but that's what I prefer.

[Partial]

I have a job offer right now that is based on a 1099 so I'm trying to learn the facts. When one factors in the lack of bennies, it isn't a very competitive offer

[retailguy]

I have a job offer right now that is based on a 1099 so I'm trying to learn the facts. When one factors in the lack of bennies, it isn't a very competitive offer

I would not work like that right now. After you have some experience it will be a better deal because your billing rate will be higher.

The time will come when you can "consult". It isn't right now.

Just be patient, good jobs are out there despite what the naysayers are saying.

Just stay positive.