Monday, April 28, 2008

Shopping For A Car? Don’t Get Taken For A Ride!

Author by James H. Dimmitt

Imagine this ... You're ready to buy a new car. You've done your research on the web at a site like Edmunds.com so you know what the dealer has paid for the model you want. Based on your information you've established your comfort zone for price haggling.

You walk into the dealership, meet with a salesperson, and begin negotiations. At the end of your test drive and haggling, you're confident that you've made the best deal possible. No way you're getting ripped off because this time you are an "informed consumer" unlike when you bought your last vehicle.

One final step stands between you and your brand new "ride" - financing. Your credit is outstanding so you get what you believe is the lowest possible interest rate from the dealership. You drive away in your shiny new vehicle triumphant!

Ready for a dose of reality? According to a new study, there's a 1 in 4 chance that you've been "taken for a ride" by the dealer's finance department, especially if you are female or a minority, by as much as an extra $1,000.

The Consumer Federation of America, a Washington,

D.C.,-based consumer interest group, said consumers often pay additional fees in that process - totaling as much as $1 billion nationwide - without realizing they qualified for cheaper financing.

Here's what can happen behind the scenes: a bank approves an interest rate, the dealer tacks on additional percentage points as a kind of service fee and then the dealer and lender split the difference.

To be fair, not every dealer is guilty of this markup. However, enough are involved that many states are now considering new "truth in advertising" lending laws. New laws would require auto dealers to inform customers of the original rate offered by the bank and what the dealer is offering to the customer, after tacking on their additional finance fee.

Shopping around with your bank, credit union or the internet can help you to find the interest rate that you qualify for in a loan. Remember, the auto dealer is in business to sell cars, not to offer loans.

The next time you're in the market for a car, don't just research the model, make, and add-ons. Research fair interest rates as well so that you'll know if you're getting the best rate possible from the auto dealer or if you're being "taken for a ride."

Author: James H. Dimmitt

James is editor of "TO YOUR CREDIT", a weekly free newsletter. Subscribe to the newsletter by visiting

http://www.yourfreecreditreportnow.com. He is also author of “Identity Theft - How to Avoid Becoming the Next Victim!” available at http://tinyurl.com/bc45

How to beat the mutual fund companies at their own game

Author by Ulli G. Niemann

You'd have had to be living on a desert island with no TV, newspaper or internet connection to have missed hearing about the great mutual fund scandal of 2003.

The issue was that some mutual fund companies allowed certain hedge funds to engage in after-hours trading, sometimes incorrectly referred to as market timing. Unfortunately, some companies have used the confusion about the term "market timing" to further their own cause. How?

They have used this issue to pretty much ban all forms of trading their funds, and some companies are imposing hefty short-term redemption fees—penalties for all intents and purposes—in the name of avoiding impropriety. But the real idea behind it all is: Buy our fund and never sell it!

These companies advocate a stubborn Buy & Hold philosophy despite the devastating effects that approach had on investors’ portfolios during the recent bear market. Performance is immaterial to them—they want your money in their fund whether it's going up or down.

With all of the negative press over the months you'd think that mutual fund companies would have cleaned up their act and started giving more consideration to the individual investor. Not so.

This was brought home to me when a fund manager of an $800 million mutual fund called me to see what my plans were in respect to holding our positions with his fund (about $2 million).

I explained my trend tracking methodology and he got very angry when he heard I would protect my clients' accumulated profits by selling his fund if it were to drop 7% off its highs.

His blustering made it quite clear that he did not like anyone managing for the benefit of their clients; he only cared about what was best for him and his company.

So, what can you do to prevent being taken advantage of? For one thing, do what your mutual fund company does — not what they tell you to do. Adopt a strategy for following trends, such as I do, and use the mutual fund manger’s superior stock picking ability to your advantage by buying and holding only as long as the fund is performing well.

Remember, the fund manager has one big disadvantage over you: He always “has to” be invested so that the public can purchase shares in his fund. You don’t!

If market conditions dictate that you are better off in the safety of a money market account because we are in a severe downtrend, then you can take your money and run for cover. He can’t. He is constantly trying to adjust his portfolio to ever-changing economic conditions so that his potential losses are minimized. At the same time you are being told that his fund is the investment for all seasons. Don’t fall for it!

You as an individual investor are really in the driver’s seat. Unfortunately, you have probably been conditioned to think that Buy & Hope is a good investment strategy, when in fact it is a losing proposition.

Bottom line is, use a well performing mutual fund during strong up trends and get over to the sidelines during trend reversals. (That's exactly what I did for my clients in October, 2001, and we retained the lion's share of their profits while Buy & Holders kept insisting the emperor was wearing new clothes.) Pretty soon you will feel that you are in charge of your financial destiny and any chosen mutual fund is merely a tool to bring you closer to your goals of maximizing your gain and minimizing your losses.

Ulli Niemann is an investment advisor and has been writing about objective, methodical approaches to investing for over 10 years. He eluded the bear market of 2000 and has helped countless people make better investment decisions. To find out more about his approach and his FREE Newsletter, please visit: www.successful-investment.com.

Financial Freedom = Delayed Gratification

Author by Vishy Narayanan

What is delayed gratification? Do you stop to

wonder? It appears that the self storage

industry is growing out of control. Even worse,

it is people who have a place called home that

are using these places to a great extent. I was

listening to an interesting program on the

radio that was discussing this issue. I must say

that I was surprised and shocked.

I always thought that these places were used by

people in transit. But, if people have the need

to rent these places on a long term basis, I

have to wonder if the American culture of wanting

everything now, has gone a bit too far.

I was discussing this with one of my friends

recently. Guess, I touched on a weak spot here.

He admitted that he had been spending $200 every

month for the past six years on renting a little

space in the neighborhood. I asked him what he had

stored in there. He said "this and that, I don't

even remember. I have not even taken a look in the

past four years.". You know that $200/month invested

wisely could have made a lot of money for him. I

think that he will be clearing out that place and

giving his "wealth" away to the Salvation Army soon.

What do you think about the consumer credit

growing without control. Is this something that

each one of us should be concerned about?

I am not saying that we should not enjoy our lives

or live in total misery. Contrary to that, I

like to live an excellent life and have the things

that I need. But, that does not mean that I

should not care about when I get what I get. I

think that it is easy to get in debt, but getting

out is a whole other story.

We all deserve true Financial Freedom, but only

when we are willing to pay the price and make the

necessary sacrifices.

We should feel good in getting the rewards that

we have earned, rather than borrowing it from

someone at an exhorbitant price.

Vishy Narayanan

Author and Guide On Your Path to Financial Freedom

http://www.TotallyFinanciallyFree.com/specials/promo18

12 Steps To Financial Freedom

Author by Achoenweli Opute

Yes, you are welcome and you are at the right place at the right time.

You have come to a point where you need to take a decision.

You have to sit down and reflect on a number of issues.

(1) You cannot derive lasting fulfillment by working for money instead of discovering why you are here on planet earth and putting every energy in you to achieving that purpose.

(2)Your decision is to take inventory of your talents and taking steps to developing them fully to the glory of God.

(3)Don't slave for money any longer.

The Commandment-----12 Steps To Financial Freedom.

(1)Thou shall by all means know the state of your financial health.

(2)Thou shall create a column for God by paying 10% of all your income as tithe so that He can sanctify the remaining 90%. And if you don't believe God exists, which is not sensible, thou should donate the 10% to charity.

(3)Thou shall take out the next 10% and put it in any investment vehicle that pays return higher than inflation rate. It's wise to add unexpected money as well as any raise from promotion to your savings

(4)Thou shall take full control of the way you spend on any transaction and every penny spent on any transaction and every penny that flows into your pocket. There is no wisdom on buying on impulse.

(5)Thou shall prepare a financial freedom plan stating when you want to retire and what level of investment you must have at retirement that can generate enough returns to the full care of your retirement expenses. You must set specific goals.

(6)Thou shall look for a mentor on whose feet you must sit to learn about financial investment and management plans.

(7)Thou shall invest more in your mind and brain more than you invest in your physical appearance. What you do on the inside determines how far you can go outside.

(8)Thoun shall get a lawyer to put your will together. This is a reasonable step to take if you don't want to leave sorrow for your loved ones.

(9)Thou shall also take an insurance policy to absorb any unexpected emergencies.

(10)Thou shall develop alternative sources of income to your salaries. You cannot be wealthy by working for your boss alone. Use your spare time profitably.

(11)Thou shall take your spouse into consideration in any financial decisions you want to make. This can save you from unnecessary heartaches and headaches.

(12)Thou shall act on all the steps above if you want to achieve FINANCIAL FREEDOM.

They look very simple but that is where your true financial freedom and salvation lies.

I lay emphasis on all 12 steps but more on steps 3 and 10 above, as it is most demanding and practical for your financial freedom indeed.

There are millions of businesses to invest in, but the very ones I recommend, you can start with little or no capital. I call it the *Internet Marketing Business Investments*.

There are fortunes on the internet and you too can become a PART of it; if you WILL, you CAN.

See you at the top.

Regards,

Achoenweli .O.Opute

(Ceo - Netright International)(www.netrightinfo.netfirms.com)

You can subscribe to get my FREE newsletter by simply sending an email to achodiks@yahoo.com with your name, email address and the subject "FREE NEWSLETTER"

*Your information is 100% secured with us*

Start right away to "MAKING MONEY ON THE INTERNET" even while you sleep.

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Achoenweli Opute is an internet marketer and has helped many people to make it on the internet as he has sold many thousands of products online.

He is the Ceo Netright International

No Load Mutual Funds: Investment Hype vs. Investment Help

Author by Ulli G. Niemann

With the internet such a huge part of our daily lives, many investors have access to a wide range of instant investment information.

Whether you’re into stocks, bonds, mutual funds, futures or options, there are tons of electronic investment newsletters offering to turn your small stake into a giant fortune. All you need to do is subscribe and watch your portfolio soar.

Yeah, right!

As a practicing investment advisor specializing in no load mutual funds, I have received my share of e-mails from disillusioned subscribers wanting to know how to better evaluate newsletter services.

While there are no absolutes, I can give you a few pointers that might help you make a better decision:

1. Stay away from the most obvious hype. Ads promising to turn your $10,000 into $1 million in 2 years by buying this incredible stock or hot commodity are not promoting investing — they are selling gambling. Follow the "If it sounds too good to be true, it usually is" rule.

2. Most mutual fund newsletters won’t make those outlandish claims, but some of them are still pushing the truth as far as they can. So try to get a free issue or two to examine. If you can't get a sample, check if they have a trial period? How about a money back guarantee? If not, pay with your credit card. These days you’re pretty well protected by this payment method even if the newsletter doesn't offer a satisfaction guarantee.

3. Consider the editor as well as the disclaimer notes. Is he or she only publishing a newsletter? Or is he also an investment advisor with a practice?

Why would that last point matter? I may be biased, but I believe that you get far better advice from a writer who also is in the trenches every day investing their own as well as their clients’ portfolios. They would have far better insights as to what works and what doesn’t than someone who has the theory down but no practical experience.

4. Look at the investment recommendations. Are they suggesting you buy into a certain orientation such as mid cap, small cap or large value? Or are they picking specific investments based on a variety of technical indicators?

In my no-load mutual fund practice I use specific recommendations, even for my free newsletter subscribers. They are first based on my trend tracking indicator giving us the green light and secondarily on the selection of mutual funds based on momentum analysis.

The more specific the recommendations, the better, because that allows you to follow along either just on paper (which you should do at first) or with your actual portfolio.

5. Are they recommending when to sell a mutual fund either because of gains or to limit your losses? This to me is the most important issue. If there is no plan in place for getting out, how will you ever know when to sell? This has been the greatest downfall of most publishers (and investors!) since the bear market of 2000 — not selling even if market conditions dictate it would be in your best interest to do so.

The advice of most newsletter services can make you money in bull markets. However, with the continuation of the bear market still a distinct possibility; be sure to look at any newsletter's investment advice record since 2000.

For many people investing is an emotional issue. The pendulum swings between fear of loss and greed for greater returns. If a complete methodology for buying and selling is offered in a newsletter, such as one I advocate, be sure that it fits your emotional make up.

There is no sense in following an investment approach, which may have merits, if it means sleepless nights for you. You won’t stick with it for the long term — and long-term investing is essential for making your portfolio grow and prosper.

So, the bottom line is to look for a newsletter that:

• does not promise the moon,

• has a track record through up and down markets, and

• recommends an approach that not only is compatible for your investment style but also has an exit strategy so you can capitalize on your gains -- in the bank, not only on paper.

Following these guidelines may not make you rich, but it will help you avoid some bad advice.

Ulli Niemann is an investment advisor and has written about

methodical approaches to investing for over 10 years. He

avoided the bear market of 2000 and has helped countless

people make better investment decisions. Subscribe to his

free newsletter: www.successful-investment.com

To Be An Effective Leader, Do A Check-up From The Neck Up

Author by Della Menechella

Before we can effectively lead anyone, we must take an introspective view of ourselves. We must do a check-up from the neck up. We must be certain that the thoughts and attitudes we hold are in alignment with the role we perform.

Check Your Vision

As a leader you need to have vision of what you want your team to accomplish. A vision is more than just a statement; it is a complete picture with all the details of your accomplished goal. During my leadership workshops, the participants do an exercise during which they write a paragraph that describes the vision they hold for their organization. As I watch them complete this exercise, the one thing that strikes me is that most of the participants are not smiling. If the vision they are creating does not inspire them, how can they possibly expect it to inspire others?

When you create a vision, do not be held back by perceived limitations. When your vision is exciting enough, you and your team members can find a way to overcome them. When our country’s leaders had a vision of putting a man on the moon there were many apparent limitations, including not having the technology available to make the vision a reality. However, when the vision came alive to the individuals who worked on the NASA team, they discovered the technology that was required to make the vision happen.

Make sure your vision excites you if you want it to excite your team.

Check Your Attitude

As leaders, we must deal with many stresses and challenges on a daily basis. Sometimes they can cause us to feel overwhelmed. If we are not feeling positive we must do whatever is necessary to change our attitude before we meet with our team. Our team looks to us for encouragement. Part of our role as a leader is to help our team members move forward with a positive attitude.

As leaders, we must be diligent about our attitude so we stay motivated. It is the only way we can possibly motivate others.

Check Your Behavior

Everyone looks to the leader to determine what he or she should do. In order to be an effective leader, your behavior must match your message. You must model the behavior you want your team members to follow. If you say one thing and do something different, your team will follow what you do and not what you say.

If you want your group to meet their commitments, make sure you meet yours. If you want your associates to do whatever it takes to get a project done on time, then roll up your sleeves and pitch in to do what you can to help them meet their deadline. Like it or not, your behavior is the benchmark that everyone will look to and use as a guide for their own. Demonstrate what you want them to do by modeling the appropriate behavior for them.

This check-up from the neck up is not a one-time event. Just as we need to take our cars in for periodic check-ups to assure they run effectively, we need to do periodic check-ups to make sure that we are effective in our roles as leaders.

About the Author

Della Menechella is a speaker, author, and trainer who inspires people to achieve greater success from the inside out. She is a contributing author to Thriving in the Midst of Change and the author of the videotape The Twelve Commandments of Goal Setting. She can be reached at della@dellamenechella.com. Subscribe to free Peak Performance Pointers e-zine - send blank e-mail to mailto:subscribe@dellamenechella.com.

Crisis Management Tips

Author by Colin Ong TS

The term crisis management has different connotations. In this article, I will try to provide pointers that can be used in most situations:

Is It A Crisis In The First Place?:

This question is important to ask, as there are many situations that go wrong because the right person to handle it is not around. You may be in charge of a project until your supervisor comes back and are unable to contact him during a crisis. You have to make your own decisions in his absence and your action is dependent on the level of authority given.

The Big Picture:

It is not easy to handle a crisis if you are not aware of the all the facts. If your role is a leader, you have to be detached from the emotional side of the crisis and rationally take stock of how to move on. Again, this is not as easy as it sounds as you may have long-time colleagues who are involved in this crisis.

The Relevant Team:

It is important to be able to meet up with the relevant team to discuss about the situation. This is to ensure that the team is able to analyse and make a united stand about handling this crisis. This team should also comprise of the authorities, if the crisis is serious.

The Timeline:

You must construct a timeline and ensure that each process scenario is highlighted. This practice will be a check to prevent your team from spending too much time in one aspect of handling the crisis.

Procedural Manual:

Is there an organizational situational manual that you can use for this situation? Are you able to recollect the tips that were given to you when you participated in a mock drill?

External Experts:

You should get external experts to access the situation if the crisis is totally unanticipated. However, you must have had a close-door meeting with your inner circle. This is essential, as you do not want to unnecessarily reveal confidential information to external parties.

Speaking To The Media:

It is important to prepare a press kit-which provides a full detailed report about the crisis. If you are comfortable to conduct a press interview, you have to ensure that you have the full details first.

Your Communication Style:

You have to ensure that your communication style is in sync with the crisis. Remember to be forthcoming with reliable information and try not to speculate. This will also ensure that the victims’ immediate families do not overly worry. It will also not help if you come across as very emotional in the media as you want to communicate that your organization has everything under control.

Beyond Your Control:

If the crisis involves the loss of lives, it is not unthinkable that your credibility and organisation’s reputation is put into question. Assuming that the crisis was beyond your organisation’s control, you have to stick to your best judgement and not be led into a debate that may open your organisation to possible legal action.

About the Author

Colin Ong TS is the Managing Director of MR=MC Consulting (http://www.mrmc.com.sg) and Founder of the 12n Professional Networking Community (http://www.mrmc.com.sg/12n)

colin@mrmc.com.sg

Selecting a good Stock Trading Software

Author by Stock-Trading-Advice.com

There are so many different stock trading software packages on the market that you could try a different one, every day of the year, and never run the same one twice.

Many trading professionals use some type of stock trading software to keep their emotions in check and to enable them to focus on their stock trading strategy while avoiding the effects of fear and greed.

Depending upon the program that you choose, stock trading software can help you in the following areas: Identify Channel Breakouts Generate high probability mechanical buy/sell signals Control your dollar risk Forecast new tops and bottoms with great accuracy Reveal trading trends for any time frame Timing Bands to forecast the dates/times for the next cycle high, and cycle low. Curb your tendencies toward Fear and Greed

The nice thing about using stock trading software is that is has no emotions. It doesn't love or hate the stock that you own and it doesn't want to get rich. It simply crunches numbers and tells you what it "thinks" about when to buy, sell, or hold. And while it is not flawless, it's a lot smarter than most of us are.

Stock trading software is not really a necessity if you are investing in stocks and will be holding them for long periods of time. If, however, you are day, swing, or position trading, then it is an absolute requirement for you to be able to watch every up and down ticks, monitor your short positions, and stay on top of your stop loss settings. This is where stock trading software excels.

Before selecting a stock trading software package, download and try it out first. If the program that you are considering doesn't have a free trial, or a 100% money-back guarantee, then pass and look for another. Software that doesn't meet your requirements isn't going to do you a bit of good.

Although there are software packages that specialize in one particular function, such as providing real-time stock quotes, for example, you would be better off to select an all-in-one package that provides everything you need to make informed decisions. As a minimum, your stock trading software should provide the following:

The opening price of the day in each market to determine price direction.

Telltale signs in the market that signal a breakout to the upside (or downside if trading short) is coming and allow you to position yourself to profit with the move.

Moving average monitoring that shows you the average price of a security over a specified time period (the most common being 20, 30, 50, 100 and 200 days), used in order to spot pricing trends by flattening out large fluctuations.

Trigger monitor that will alert you to preset events such as such as reaching a specified price target or some other event that alerts you to take prescribed action.

Pattern Identification so you can identify patterns in any market and use them to your advantage. This gives you a greater chance of selling at the top and buying at the bottom of the markets.

Stock trading software is a must have for all serious investors. You cannot afford to trade in today's markets without having the impartial advice and inside intelligence that a good software trading system provides.

About the Author

Stock-Trading-advice.com provide you with solid information and articles that you can use to increase your personal wealth by making the right investment and trading decisions.

contact@stock-trading-advice.com

Eight No Cost Ways to Market Your Business

Author by Denise O'Berry

Are you trying to promote your business with a tiny marketing budget? Opportunities are plentiful for low or no cost marketing. Here are a few that won't cost you a cent.

1. Publish articles about your specialty. "How-to" articles are always welcome. Ensure you include your contact information.

2. Write letters to the editor of publications your target market reads.

3. Get involved in an organization or community project.

4. Build strategic alliances with non-competing businesses and cross-promote each other.

5. Publish a special report. A "super how to" list for your specialty area. Distribute freely. Ensure that your contact information is included.

6. Speak to groups and organizations. Make sure the audience is your target market.

7. Carefully target relationships with media sources.

8. Write newsworthy press releases and distribute to your special contacts.

The more proactive you can be, the better off your business will be.

About the Author

Denise O'Berry helps small business owners identify and execute the steps to grow their business. Find out more at http://www.whatspossible.com

The 'Eighth Wonder of the World?'

Author by colin mc caig

I'm sure you've heard this term used at least once or twice…

And if you're like many people, you've maybe never thought about its true significance.

One person even went as far as to say that 'those who understood it, were certain to collect it, while those that didn't would be doomed to pay it'.

Many have even called it the 'eighth wonder of the world'...

Some time ago now, someone asked me a strange question. At first I thought it was another of those stupid trick questions but he begged me to hear him out.

It went something like this…

If I were to give you the choice of working for 2000 dollars a day for the next 20 days, or 2 dollars a day for the next twenty days, but compounding that amount by double each day, which would you choose?

I confess… I was a little perplexed.

I was certainly no maths whiz kid at high school. The first option, at a glance, seemed the more attractive of the two. I mean $40,000 is no mean sum, is it?

However, I didn't have a calculator handy, as I'm assuming you probably don't just now. So with a pen and a piece of paper, I allowed him to illustrate what would have happened had I opted for option 2 and compounded my 2 dollars…

Day 1=$2, Day 2=£4, Day 3=£8, Day 4=$16, Day 5=$32, Day 6=$64, Day 7=$128, Day 8=$256, Day 9=$512, Day 10=$1024

At this stage, I admit, I was more than a little tempted to pull out. But he just smiled knowingly, so I held up my hands and let him scribble on…

Day 11=$2048, Day 12=$4096, Day 13=$8192, Day 14=$16,384 Day 15=$32, 768, Day 16=$65,536, Day 17=$131,072, Day 18=£262,144, Day 19=$524,288, Day 20=$10485,76

Wow, i had just been turned on to the magic of Compound Interest!

By just hanging tight those 10 extra days, I would have been sitting on a million!

So what's my point here exactly?

Well let's go back to start of the story...

It's a pretty well known fact that one of the main reasons the wealthy of this world got where they are today is because they understand this simple principle of compound returns…

By allowing interest to accumulate on interest, they've managed to build up small fortunes!

So what about the flip side of the coin?

Well, the chances are that if you know little or nothing about Compound Interest, it's very possible you've got it working against you.

By that I mean that if you have loans and credit card debts of any kind and you're only making the minimum monthly repayments on those debts, then you're becoming gradually poorer.

Think Im exaggerating? Well, here's a fact for you…

Let's imagine you had a 1000-dollar card balance charging 18% interest. With minimum payments you could be nearly 20 years paying that off!

And that's before the bank (as they're fond of doing) offers to up your limit.

In other words, in sharp contrast to the earlier example, you're paying interest on top of interest and becoming slowly insolvent...

So how do you turn the situation around?

Well, I know it may seem like stating the obvious, but if you're spending more than you earn, it's essential you start earning more than you spend.

This will mean getting rid of some of those credit cards. By all means, keep one for emergencies (preferably a low interest rate one). But do get rid of any store or gold credit cards.

Why?

Because they encourage you to buy junk you don't need at ludicrous rates of interest!

But the moral of the story and most important for you is that if you've been allowing compound interest to work against you all this time, then as sure as night follows day, you can start getting it to work for you.

You've probably heard the old Chinese saying, 'The journey of a thousand miles starts with one step'.

Yes, I know that initial little money saved won't seem a great deal, but did the interest really seem a lot when you took on your first loan or credit card?

Those little sums quickly snowball into bigger ones.

So have a think today how you can start getting Compound Interest on your side...

...and, slowly but surely, you'll begin to take a firmer hold on your financial future.

About the Author

Are You Getting Your MagnetMail? - Mike Cheney's World-Famous Free Magic Mail To Make Your Website Magnetic, Get Yours Now: www.magnet4web.com/website_services/?page=magnetmail

Narcissism in the Boardroom

Author by Sam Vaknin

The perpetrators of the recent spate of financial frauds in the USA acted with callous disregard for both their employees and shareholders - not to mention other stakeholders. Psychologists have often remote-diagnosed them as "malignant, pathological narcissists".

Narcissists are driven by the need to uphold and maintain a false self - a concocted, grandiose, and demanding psychological construct typical of the narcissistic personality disorder. The false self is projected to the world in order to garner "narcissistic supply" - adulation, admiration, or even notoriety and infamy. Any kind of attention is usually deemed by narcissists to be preferable to obscurity.

The false self is suffused with fantasies of perfection, grandeur, brilliance, infallibility, immunity, significance, omnipotence, omnipresence, and omniscience. To be a narcissist is to be convinced of a great, inevitable personal destiny. The narcissist is preoccupied with ideal love, the construction of brilliant, revolutionary scientific theories, the composition or authoring or painting of the greatest work of art, the founding of a new school of thought, the attainment of fabulous wealth, the reshaping of a nation or a conglomerate, and so on. The narcissist never sets realistic goals to himself. He is forever preoccupied with fantasies of uniqueness, record breaking, or breathtaking achievements. His verbosity reflects this propensity.

Reality is, naturally, quite different and this gives rise to a "grandiosity gap". The demands of the false self are never satisfied by the narcissist's accomplishments, standing, wealth, clout, sexual prowess, or knowledge. The narcissist's grandiosity and sense of entitlement are equally incommensurate with his achievements.

To bridge the grandiosity gap, the malignant (pathological) narcissist resorts to shortcuts. These very often lead to fraud.

The narcissist cares only about appearances. What matters to him are the facade of wealth and its attendant social status and narcissistic supply. Witness the travestied extravagance of Tyco's Denis Kozlowski. Media attention only exacerbates the narcissist's addiction and makes it incumbent on him to go to ever-wilder extremes to secure uninterrupted supply from this source.

The narcissist lacks empathy - the ability to put himself in other people's shoes. He does not recognize boundaries - personal, corporate, or legal. Everything and everyone are to him mere instruments, extensions, objects unconditionally and uncomplainingly available in his pursuit of narcissistic gratification.

This makes the narcissist perniciously exploitative. He uses, abuses, devalues, and discards even his nearest and dearest in the most chilling manner. The narcissist is utility- driven, obsessed with his overwhelming need to reduce his anxiety and regulate his labile sense of self-worth by securing a constant supply of his drug - attention. American executives acted without compunction when they raided their employees' pension funds - as did Robert Maxwell a generation earlier in Britain.

The narcissist is convinced of his superiority - cerebral or physical. To his mind, he is a Gulliver hamstrung by a horde of narrow-minded and envious Lilliputians. The dotcom "new economy" was infested with "visionaries" with a contemptuous attitude towards the mundane: profits, business cycles, conservative economists, doubtful journalists, and cautious analysts.

Yet, deep inside, the narcissist is painfully aware of his addiction to others - their attention, admiration, applause, and affirmation. He despises himself for being thus dependent. He hates people the same way a drug addict hates his pusher. He wishes to "put them in their place", humiliate them, demonstrate to them how inadequate and imperfect they are in comparison to his regal self and how little he craves or needs them.

The narcissist regards himself as one would an expensive present, a gift to his company, to his family, to his neighbours, to his colleagues, to his country. This firm conviction of his inflated importance makes him feel entitled to special treatment, special favors, special outcomes, concessions, subservience, immediate gratification, obsequiousness, and lenience. It also makes him feel immune to mortal laws and somehow divinely protected and insulated from the inevitable consequences of his deeds and misdeeds.

The self-destructive narcissist plays the role of the "bad guy" (or "bad girl"). But even this is within the traditional social roles cartoonishly exaggerated by the narcissist to attract attention. Men are likely to emphasise intellect, power, aggression, money, or social status. Narcissistic women are likely to emphasise body, looks, charm, sexuality, feminine "traits", homemaking, children and childrearing.

Punishing the wayward narcissist is a veritable catch-22.

A jail term is useless as a deterrent if it only serves to focus attention on the narcissist. Being infamous is second best to being famous - and far preferable to being ignored. The only way to effectively punish a narcissist is to withhold narcissistic supply from him and thus to prevent him from becoming a notorious celebrity.

Given a sufficient amount of media exposure, book contracts, talk shows, lectures, and public attention - the narcissist may even consider the whole grisly affair to be emotionally rewarding. To the narcissist, freedom, wealth, social status, family, vocation - are all means to an end. And the end is attention. If he can secure attention by being the big bad wolf - the narcissist unhesitatingly transforms himself into one. Lord Archer, for instance, seems to be positively basking in the media circus provoked by his prison diaries.

The narcissist does not victimise, plunder, terrorise and abuse others in a cold, calculating manner. He does so offhandedly, as a manifestation of his genuine character. To be truly "guilty" one needs to intend, to deliberate, to contemplate one's choices and then to choose one's acts. The narcissist does none of these.

Thus, punishment breeds in him surprise, hurt and seething anger. The narcissist is stunned by society's insistence that he should be held accountable for his deeds and penalized accordingly. He feels wronged, baffled, injured, the victim of bias, discrimination and injustice. He rebels and rages.

Depending upon the pervasiveness of his magical thinking, the narcissist may feel besieged by overwhelming powers, forces cosmic and intrinsically ominous. He may develop compulsive rites to fend off this "bad", unwarranted, persecutory influences.

The narcissist, very much the infantile outcome of stunted personal development, engages in magical thinking. He feels omnipotent, that there is nothing he couldn't do or achieve if only he sets his mind to it. He feels omniscient - he rarely admits to ignorance and regards his intuitions and intellect as founts of objective data.

Thus, narcissists are haughtily convinced that introspection is a more important and more efficient (not to mention easier to accomplish) method of obtaining knowledge than the systematic study of outside sources of information in accordance with strict and tedious curricula. Narcissists are "inspired" and they despise hamstrung technocrats.

To some extent, they feel omnipresent because they are either famous or about to become famous or because their product is selling or is being manufactured globally. Deeply immersed in their delusions of grandeur, they firmly believe that their acts have - or will have - a great influence not only on their firm, but on their country, or even on Mankind. Having mastered the manipulation of their human environment - they are convinced that they will always "get away with it". They develop hubris and a false sense of immunity.

Narcissistic immunity is the (erroneous) feeling, harboured by the narcissist, that he is impervious to the consequences of his actions, that he will never be effected by the results of his own decisions, opinions, beliefs, deeds and misdeeds, acts, inaction, or membership of certain groups, that he is above reproach and punishment, that, magically, he is protected and will miraculously be saved at the last moment. Hence the audacity, simplicity, and transparency of some of the fraud and corporate looting in the 1990's. Narcissists rarely bother to cover their traces, so great is their disdain and conviction that they are above mortal laws and wherewithal.

What are the sources of this unrealistic appraisal of situations and events?

The false self is a childish response to abuse and trauma. Abuse is not limited to sexual molestation or beatings. Smothering, doting, pampering, over-indulgence, treating the child as an extension of the parent, not respecting the child's boundaries, and burdening the child with excessive expectations are also forms of abuse.

The child reacts by constructing false self that is possessed of everything it needs in order to prevail: unlimited and instantaneously available Harry Potter-like powers and wisdom. The false self, this Superman, is indifferent to abuse and punishment. This way, the child's true self is shielded from the toddler's harsh reality.

This artificial, maladaptive separation between a vulnerable (but not punishable) true self and a punishable (but invulnerable) false self is an effective mechanism. It isolates the child from the unjust, capricious, emotionally dangerous world that he occupies. But, at the same time, it fosters in him a false sense of "nothing can happen to me, because I am not here, I am not available to be punished, hence I am immune to punishment".

The comfort of false immunity is also yielded by the narcissist's sense of entitlement. In his grandiose delusions, the narcissist is sui generis, a gift to humanity, a precious, fragile, object. Moreover, the narcissist is convinced both that this uniqueness is immediately discernible - and that it gives him special rights. The narcissist feels that he is protected by some cosmological law pertaining to "endangered species".

He is convinced that his future contribution to others - his firm, his country, humanity - should and does exempt him from the mundane: daily chores, boring jobs, recurrent tasks, personal exertion, orderly investment of resources and efforts, laws and regulations, social conventions, and so on.

The narcissist is entitled to a "special treatment": high living standards, constant and immediate catering to his needs, the eradication of any friction with the humdrum and the routine, an all-engulfing absolution of his sins, fast track privileges (to higher education, or in his encounters with bureaucracies, for instance). Punishment, trusts the narcissist, is for ordinary people, where no great loss to humanity is involved.

Narcissists are possessed of inordinate abilities to charm, to convince, to seduce, and to persuade. Many of them are gifted orators and intellectually endowed. Many of them work in in politics, the media, fashion, show business, the arts, medicine, or business, and serve as religious leaders.

By virtue of their standing in the community, their charisma, or their ability to find the willing scapegoats, they do get exempted many times. Having recurrently "got away with it" - they develop a theory of personal immunity, founded upon some kind of societal and even cosmic "order" in which certain people are above punishment.

But there is a fourth, simpler, explanation. The narcissist lacks self-awareness. Divorced from his true self, unable to empathise (to understand what it is like to be someone else), unwilling to constrain his actions to cater to the feelings and needs of others - the narcissist is in a constant dreamlike state.

To the narcissist, his life is unreal, like watching an autonomously unfolding movie. The narcissist is a mere spectator, mildly interested, greatly entertained at times. He does not "own" his actions. He, therefore, cannot understand why he should be punished and when he is, he feels grossly wronged.

So convinced is the narcissist that he is destined to great things - that he refuses to accept setbacks, failures and punishments. He regards them as temporary, as the outcomes of someone else's errors, as part of the future mythology of his rise to power/brilliance/wealth/ideal love, etc. Being punished is a diversion of his precious energy and resources from the all-important task of fulfilling his mission in life.

The narcissist is pathologically envious of people and believes that they are equally envious of him. He is paranoid, on guard, ready to fend off an imminent attack. A punishment to the narcissist is a major surprise and a nuisance but it also validates his suspicion that he is being persecuted. It proves to him that strong forces are arrayed against him.

He tells himself that people, envious of his achievements and humiliated by them, are out to get him. He constitutes a threat to the accepted order. When required to pay for his misdeeds, the narcissist is always disdainful and bitter and feels misunderstood by his inferiors.

Cooked books, corporate fraud, bending the (GAAP or other) rules, sweeping problems under the carpet, over-promising, making grandiose claims (the "vision thing") - are hallmarks of a narcissist in action. When social cues and norms encourage such behaviour rather than inhibit it - in other words, when such behaviour elicits abundant narcissistic supply - the pattern is reinforced and become entrenched and rigid. Even when circumstances change, the narcissist finds it difficult to adapt, shed his routines, and replace them with new ones. He is trapped in his past success. He becomes a swindler.

But pathological narcissism is not an isolated phenomenon. It is embedded in our contemporary culture. The West's is a narcissistic civilization. It upholds narcissistic values and penalizes alternative value-systems. From an early age, children are taught to avoid self-criticism, to deceive themselves regarding their capacities and attainments, to feel entitled, and to exploit others.

As Lilian Katz observed in her important paper, "Distinctions between Self-Esteem and Narcissism: Implications for Practice", published by the Educational Resources Information Center, the line between enhancing self-esteem and fostering narcissism is often blurred by educators and parents.

Both Christopher Lasch in "The Culture of Narcissism" and Theodore Millon in his books about personality disorders, singled out American society as narcissistic. Litigiousness may be the flip side of an inane sense of entitlement. Consumerism is built on this common and communal lie of "I can do anything I want and possess everything I desire if I only apply myself to it" and on the pathological envy it fosters.

Not surprisingly, narcissistic disorders are more common among men than among women. This may be because narcissism conforms to masculine social mores and to the prevailing ethos of capitalism. Ambition, achievements, hierarchy, ruthlessness, drive - are both social values and narcissistic male traits. Social thinkers like the aforementioned Lasch speculated that modern American culture - a self-centred one - increases the rate of incidence of the narcissistic personality disorder.

Otto Kernberg, a notable scholar of personality disorders, confirmed Lasch's intuition: "Society can make serious psychological abnormalities, which already exist in some percentage of the population, seem to be at least superficially appropriate."

In their book "Personality Disorders in Modern Life", Theodore Millon and Roger Davis state, as a matter of fact, that pathological narcissism was once the preserve of "the royal and the wealthy" and that it "seems to have gained prominence only in the late twentieth century". Narcissism, according to them, may be associated with "higher levels of Maslow's hierarchy of needs ... Individuals in less advantaged nations .. are too busy trying (to survive) ... to be arrogant and grandiose".

They - like Lasch before them - attribute pathological narcissism to "a society that stresses individualism and self-gratification at the expense of community, namely the United States." They assert that the disorder is more prevalent among certain professions with "star power" or respect. "In an individualistic culture, the narcissist is 'God's gift to the world'. In a collectivist society, the narcissist is 'God's gift to the collective."

Millon quotes Warren and Caponi's "The Role of Culture in the Development of Narcissistic Personality Disorders in America, Japan and Denmark":

"Individualistic narcissistic structures of self-regard (in individualistic societies) ... are rather self-contained and independent ... (In collectivist cultures) narcissistic configurations of the we-self ... denote self-esteem derived from strong identification with the reputation and honor of the family, groups, and others in hierarchical relationships."

Still, there are malignant narcissists among subsistence farmers in Africa, nomads in the Sinai desert, day laborers in east Europe, and intellectuals and socialites in Manhattan. Malignant narcissism is all-pervasive and independent of culture and society. It is true, though, that the way pathological narcissism manifests and is experienced is dependent on the particulars of societies and cultures.

In some cultures, it is encouraged, in others suppressed. In some societies it is channeled against minorities - in others it is tainted with paranoia. In collectivist societies, it may be projected onto the collective, in individualistic societies, it is an individual's trait.

Yet, can families, organizations, ethnic groups, churches, and even whole nations be safely described as "narcissistic" or "pathologically self-absorbed"? Can we talk about a "corporate culture of narcissism"?

Human collectives - states, firms, households, institutions, political parties, cliques, bands - acquire a life and a character all their own. The longer the association or affiliation of the members, the more cohesive and conformist the inner dynamics of the group, the more persecutory or numerous its enemies, competitors, or adversaries, the more intensive the physical and emotional experiences of the individuals it is comprised of, the stronger the bonds of locale, language, and history - the more rigorous might an assertion of a common pathology be.

Such an all-pervasive and extensive pathology manifests itself in the behavior of each and every member. It is a defining - though often implicit or underlying - mental structure. It has explanatory and predictive powers. It is recurrent and invariable - a pattern of conduct melding distorted cognition and stunted emotions. And it is often vehemently denied.

About the Author

Sam Vaknin is the author of Malignant Self Love - Narcissism Revisited and After the Rain - How the West Lost the East. He is a columnist for Central Europe Review, PopMatters, and eBookWeb , a United Press International (UPI) Senior Business Correspondent, and the editor of mental health and Central East Europe categories in The Open Directory Bellaonline, and Suite101 .

Until recently, he served as the Economic Advisor to the Government of Macedonia.

Visit Sam's Web site at http://samvak.tripod.com

palma@unet.com.mk

Individual Health Insurance Plans

Author by Mike Yeager

When looking for individual health insurance plans it's important to remember that generally you'll find better rates if you deal directly with the insuring company. The internet now allows individuals the chance to plug in a few personal details and obtain individual health insurance plans quotes. Some questions to consider when choosing your coverage are the following:

1) Is it important that you keep your current Doctor?

2) Is it important that you have access to alternative care such acupuncture or massage therapy?

3) How high a deductible are you comfortable with?

Individual Health Insurance Plans tailored to your needs.

Most people looking for individual health insurance plans are seeking modest insurance coverage, but they also want some of the basic essentials such as regular Doctor visits and prescription coverage. Keep in mind that your premium costs will vary depending on how high your deductible is and what kind of coverage you have. Generally the higher the deductible, the lower your monthly premiums. When choosing your coverage try to match low prices with quality coverage.

About the Author

Mike Yeager

Publisher

http://www.a1-healthinsurance-4u.com/

mjy610@hotmail.com

Should You Invest In Savings Or Payoff Your Debts?

Author by David Chew

I have faced this financial question 8 years ago and recently I have friends asked me this same question. I think I should write it up so that it may help some of you that having the same situation.

The decision whether to invest your monthly excess cash into savings account or paying off your debt is a tough one.

There are few factors you need to consider before you make the decision and I listed them down here to help you make an informed decision.

(1) Rolling or fix installment credit account

An example of your rolling credit is credit card. You may continue to add debt into the account while trying to pay off the debt. It is always recommended to pay off your rolling credit before putting into savings account. You should pay more than the minimum payment every month.

Other than paying more than the minimum amount, you should take the following recommended actions immediately to avoid deepen your debt:

(a) Putting your credit card away, keep it at home and don't carry whenever you go. I actually locked the credit card for months when my debt was reaching the un-tolerate level.

(b) Be frugal. Dont buy unnecessary. Be disciplined. I actually print out big words of ‘Be Frugal’ and stick them around the house. In the bath room, bed room, dining hall. I even carry a small ‘Be Frugal’ card in my wallet and I will see it when I take money out of my wallet.

(c) Get expert advice. If the debt is too deep and out of control. It is advisable to seek an expert advice

(d) Borrow money from your friends and relatives to payoff the high interest rate c^redit card debt

(e) Payoff the high interest debt with a lower interest personal loan

For the fix installment debt, in some cases you will be penalized if you pay off the loan faster. In this situation, you may want to invest your extra cash into savings

(2) Interest Rate

It is clear that you should pay off your higher interest rate debt than putting your money into savings with lower interest rate. This is not a fix rule, many experts recommended that you should save between 5-15% of your monthly income into savings. You should also save at least 3-6 months worth of monthly spending for emergency use. You have a decision to make between building your nest egg and paying off your debt faster for long term financial health.

(3) Debt Ranking

List and rank all your debts according to the interest rate. Always pay more than the minimum for the highest Interest debt and pay the minimum for lower interest Debts.

In summary, you should balance between building your cash reserve (for emergency use) and paying off your debts. There is no one fix formula for all. Make your own analysis and find out the mix that suit your situation considering the interest rates, debt ranking and whether it is a rolling or fix installment debt.

About the Author

David Chew is a professional marketer and He is the editor of Quick-Retirement Newsletter. Valuable Weekly Featured Articles and Tips that will help you Retire Quickly. Subscribe at: http://www.quick-retirement.com

Read his team latest breakthrough marketing report " The SIMPLE Strategy".... How To Earn $6,569 Per MONTH From The Internet With A Duplication System That Works": http://www.eliteteampro.com

Internet Marketing and Your Old Age

Author by A. Raymond Randall, Jr.

Everybody wants to learn how to make money on the Internet. What about saving money for retirement and your future? If you don't do it, who will? Alan Greenspan, Chairman of the Federal Reserve Bank, recently confronted the U.S. Congress about the cost of future retirement benefits.

You may recall the 1999 Tom Hanks film, "The Green Mile". This film adaptation of Stephen King's novel provides just a couple of comparisons to current economics and Alan Greenspan. Greenspan's comments before Congress sometimes equal the length of "The Green Mile" (3 hours), but his testimony won't evoke tears unless you're a baby boomer, soon to be a Social Security beneficiary.

In "The Green Mile", Hanks plays a prison guard charged with the care of death row inmates. He treats each "death row" convict with care and Southern civility. In order to avoid stretching parallels to the movie, I will observe only that Mr. Greenspan, born in New York City (March 6, 1926; send him a card) is civil when Congressional Committees question his opinions.

"The Green Mile" ends at the hot seat for convicts. Alan Greenspan's February 25, 2004 testimony leads to an economic, political, and social hot seat: Social Security benefits. I suggest you read the full text of his testimony found at: http://www.federalreserve.gov/boarddocs/testimony/2004/20040225/

Now to "The Green Span" hot seat comments about Social Security:

**We sing Happy 62nd Birthday to the first baby boomers in 2008

**50% of them may retire at age 62

**Everyone's gong to live longer

**Social Security costs will escalate

**Funds to pay may not meet the demand

What does this mean to you? Well, it's motivation to make that site sell while saving toward retirement. Further, every site generating cash flow, may do so for years and years, if managed wisely. This means qualifying for retirement does not force you to retire. Cash flows can continue for your life time.

However, saving for retirement still makes sense. It saves you taxes now and later. Furthermore, an aging population living longer means Social Security benefits may be reduced when you become eligible. So, start saving now by starting any one of the following methods.

**Individual Retirement Account: You may contribute up to $3,000 in 2004, $4,000 in 2005-2007, and $5,000 in 2008 and beyond. When you reach age 50, "catch-up" provisions allow you to contribute an additional $500 in 2004-2005 and $1000 in 2006 and beyond. This means your IRA contribution in 2006 may be up to $6,000.

**If your Internet web site incorporated, you may have an employer sponsored plan. The Savings Incentive Match Plan for Employees (SIMPLE plan) "SIMPLE plan contribution for 2004 amounts to $9,000. This increases incrementally to an "adjusted" $10,000 in 2006.

**A SAR/SEP and 401(k) let you contribute up to $13,000 for 2004 (the maximum in 2006 is up to $15,000) Employer sponsored plans also allow "catch up" provisions for workers over age 50. For example, an employee over age 50 may contribute a "catch up" contribution of $3,000 for 2004 (the maximum "catch up" contribution is $5,000 in 2006).

IRA accounts and employer accounts may be opened at banks and brokerage firms. Check with your tax adviser and financial consultant first.

Social Security provides for basic needs during retirement. Make sure your resources permit the lifestyle you want by saving for your retirement now.

Ray Randall is a registered investment advisor with Ethos Advisory Services, Essex, Massachusetts http://www.ethosadvisory.com. He writes a weekly newsletter for Ethos Advisory Services, and is the webmaster for Echievements . You may write to him or call (877-895-3756).

Ray Randall is a registered investment advisor with Ethos Advisory Services, Essex, Massachusetts http://www.ethosadvisory.com. He writes a weekly newsletter for Ethos Advisory Services, and is the webmaster for Echievements . You may write to him or call (877-895-3756).

10 “No Money Down” Ways to Buy Real Estate

Author by Richard Massey

Turn the Television on any Sunday morning and you’ll find yourself in the middle of a “how to buy real estate” infomercial. Can you really buy a house with no down payment? Can you really make thousands or millions of dollars buying real estate. Of course the answer is “yes” and “no”. The real question is, are you willing to pay anywhere from $500 to $5000 for the information, classes and hotline? Most important are you self disciplined enough to follow the program.

Before you spend money on these expensive programs, here are my top ten “no money down” ways to buy real estate. If you’re self disciplined and willing to hear the word “no” many times before you get a “yes”, then maybe you can buy a house without a down payment.

1. First is to check out the many new zero down programs now available from lenders. Especially if you’re a fist time buyer. Also FHA and VA have loans that may not be zero down, but are very close.

2. Borrow money for the down payment – Borrow the money from family, friends or a business partner at a high interest rate or a percentage of the profit when the property is sold

3. Raise the price and lower the terms – Offer the seller more than he is asking provided he is willing to accept the down payment in the form of a note. If the seller is asking $150,000 with $15,000 down and willing to carry the balance of $135,000. Try offering $155,000 in the form of a promissory not instead of cash. The seller gets a little more money for the additional risk.

4. Borrow against a life insurance policy – Many life insurance policy’s let you borrow against the policy for the purpose of investing in real estate or other investments.

5. Use other property as collateral – Create a note on existing property that you or a partner own and use it as the down payment for the property you are buying.

6. Home equity loan – Home equity loans are generally easy to qualify for as long as there is adequate equity in the property.

7. Seller refinance – Have the seller refinance the property, receiving the cash he needs from the proceeds of the new loan, the buyer gives the seller a note for the balance of the seller’s equity.

8. Find an investor – There are many people who have money but no time. Their current profession keeps them too busy. Work out a deal where they put up the money and you split the profits when you sell.

9. Lease with option to purchase – Lease a property with the right to buy it at some future time. Provide for the rental payment to be credited towards the down payment if you decide to exercise your option.

10. Give them something they need – If the seller is planning to purchase something in the future that you own or can buy, use it as a trade. This can be anything such as furniture, boat or motor home.

About the Author

Richard Massey is a note broker with United Financial Resources and a real estate investor. You can get more information at http://www.unitedfinancialresources.com or to read more articles go to http://unitedfinancialresources.com/news.html

Prospering with Mutual Funds: How anyone can “Afford” an Investment Advisor

Author by Ulli G. Niemann

Recently I was invited to appear on a live CNNfn television show to discuss my article “How to evaluate Load vs. No Load Mutual Funds.” (You can read that article on my website http://www.successful-investment.com/articles21.htm)

As the producer and I were working out the logistics of my appearance, she mentioned in passing that “most people can’t afford an investment advisor.”

While that wasn’t the time or place for me to discuss this, I realized that many people might have a similar misconception. Had conditions allowed, I would have pointed out the following to her.

There are only two ways an individual can invest in mutual funds: Selecting and investing themselves or using outside help. If they use outside help they’ll have a couple of choices again: A commissioned salesperson (broker, financial planner or Registered Representative) or a fee-based investment advisor.

Most people don’t know the difference and often start with a broker who charges about 6% commission off the top to purchase a mutual fund. The fund is usually from a limited selection of fund families the broker has a relationship with. He, of course, would never recommend a no load fund or an exchange traded fund (ETF), since it is not in his best interest -- although it might be in yours.

Having a fee-based investment professional handling your portfolio will get you as close as possible to receiving advice that is based on nothing but the advisor’s best knowledge and evaluation of the market. They advise only what they consider top performing funds since sales commission is not a consideration and does not create any conflict of interest for them. But, how can you "afford" an advisor?

First off, the advisor's fee is usually in the range of 1% to 3% per year depending on portfolio size. This amount is billed in advance on a pro-rated quarterly basis and charged directly to your investment account. This creates an initial savings right off the bat.

Most fee-based advisors offer complete service as far as your portfolio is concerned. That means that they don’t simply “sell” you a mutual fund and disappear until you call again. Since investors evaluate advisors based on the performance of their portfolio, advisors are keenly interested in maximizing your bottom line. In the long run, your gain should outweigh their fee.

Many advisors utilize an investment discipline or methodology that keeps you not only invested during upswings in the market, but also in the appropriate funds for the current economic environment. For example, at one time, tech funds were hot. Now, generally, they're not. An advisor watching market trends could have been able to assist you in avoiding the bursting bubble. (In fact, my clients were advised to pull out of the market and into the safety of money markets in October, 2000, just before the market plummeted. What they didn't lose because of this will more than cover my fees for the rest of their lives!)

Most advisors don’t have lengthy agreements and you usually can cancel by giving 2 weeks notice. The advisor never has access to your money because he is affiliated with a custodian who handles the money, the monthly statements and fulfills the proper legal reporting requirements.

With this arrangement an advisor can actually save you money. How?

1. The advisor will use only no load funds. Because of his affiliation with a custodian (often a major brokerage firm), he’ll have access to some 10,000 mutual funds, not just to one or two fund families as most commissioned brokers do. This allows him to pick the best available, which potentially means a higher return for his clients.

2. At times there are superior load funds available, especially in the international arena. I have used a couple of those in my own practice because they were available to me as “load waived funds” and my clients got the advantage without paying a sales commission.

3. Custodians many times also offer “Advisor only” funds. These are usually high performing mutual funds where the fund family wishes, for whatever reason, to deal only with investment professionals, so they set high minimum dollar requirements.

Such was the case in my practice during our most recent buy signal (4/29/03). I purchased the NAMCX fund, which was only available to advisors through my custodian. This fund rewarded us with a cool 47% over the following five months. Most independent investors would not have had access to such a fund on their own.

Keep in mind that markets fluctuate and starting with an advisor in the middle of a downturn will not likely yield high profits at first. However, over time, an advisor will most likely produce results better than what you would reasonably expect yourself to do, even with the advisor's modest fee.

Choosing the right advisor and watching how your portfolio performs with their advice will almost always prove that it doesn't cost you to have an investment advisor, it pays.

Ulli Niemann is an investment advisor and has written about

methodical approaches to investing for over 10 years. He

avoided the bear market of 2000 and has helped countless

people make better investment decisions. Subscribe to his

free newsletter: www.successful-investment.com

Business Stationery, Part 2

Author by Jane Fulton

In the first lesson, we learned how to create a Letterhead. In this article, we will learn to create other stationery items using our template.

Making Compliment Slips:

In Microsoft Word, click on 'new' from the toolbar. A new file will open. We need to set-up our new project. First, to get the maximum print area, go to 'File' -- 'Page Setup'. Set the top and bottom margins to 0. Click 'ok'. A warning box will appear, alerting you about small margins. Click 'fix' -- 'ok'. Go to the 'File Menu' and click 'Save'.

Next, we need a place to create data. Go to the 'Insert Menu' and click on 'Text Box'. Click at the top of the page and 'drag' the mouse diagonally, to create a Text Box.

Tip: You can't put a picture or 'ClipArt' into a text box, therefore you must delete the picture or ClipArt before continuing. BE SURE: When you close the template and are asked if you want to save the changes, click 'no'. This will leave your picture or ClipArt in your template. Paste the text in the text box and press 'enter'.

Click outside the text box and insert your picture or ClipArt. In lesson 1, we covered how to insert ClipArt.

Note: If you ever need to change the information in your Stationery, fix the text in your letterhead first.

You should be able to fit 3 Compliment slips on one page. To create the second one, click on the text box. Right-click and choose copy from the menu. Click outside the box, right-click and choose 'Paste'. A second text box will appear, on top of the first one. Click on it and drag it down underneath the first one. Repeat the steps for this one and the next one, like we did the first one.

You don't want the text box border to print, so click on the box -- go to the 'Format Menu' -- 'Text Box'. Choose the 'Colors and Lines tab'. in the 'line' section, click on the 'Color' box -- 'no line' -- 'ok'. Got to the 'File menu' and click 'print'.

You want your Business Cards to match your Letterhead and Compliments Slip. We will learn to do Business Cards in another lesson.

About the Author

Jane Fulton is owner & webmistress at:

http://janes-place.com She has been helping newbies and beginning marketers for 4 years now. Get her articles delivered to your inbox by subscribing to Newbie & Affiliate SOS Newsletter at:

http://janes-place.com/sos.htm

webmistress@janes-place.com

Money and SafeMoneyMetrics

Author by Marlee-Jo Jacobson

This article demonstrates how any and all public domain rate of return data for managed futures can be transformed into SafeMoneyMetricä (SMM) Ratios. SMM provides concrete groundwork for constructing investments with an increased probability of positive returns over unknown future market conditions.

Marlee-Jo Jacobson is founder of SafeMoneyMetricsä and Sanctity Capital Management www.sanctity.com. As second generation in futures her experience includes hedging and capital management from both on and off the exchange floor. She wrote a Series 3 Training Manuel for Securities Training Corporation. She designs limited risk investments and builds profit centers for financial service professionals and institutions.

The Self-Appointed Altruists

Author by Sam Vaknin

Their arrival portends rising local prices and a culture shock. Many of them live in plush apartments, or five star hotels, drive SUV's, sport $3000 laptops and PDA's. They earn a two figure multiple of the local average wage. They are busybodies, preachers, critics, do-gooders, and professional altruists.

Always self-appointed, they answer to no constituency. Though unelected and ignorant of local realities, they confront the democratically chosen and those who voted them into office. A few of them are enmeshed in crime and corruption. They are the non-governmental organizations, or NGO's.

Some NGO's - like Oxfam, Human Rights Watch, Medecins Sans Frontieres, or Amnesty - genuinely contribute to enhancing welfare, to the mitigation of hunger, the furtherance of human and civil rights, or the curbing of disease. Others - usually in the guise of think tanks and lobby groups - are sometimes ideologically biased, or religiously-committed and, often, at the service of special interests.

NGO's - such as the International Crisis Group - have openly interfered on behalf of the opposition in the recent elections in Macedonia. Other NGO's have done so in Belarus and Ukraine, Zimbabwe and Israel, Nigeria and Thailand, Slovakia and Hungary - and even in Western, rich, countries including the USA, Canada, Germany, and Belgium.

The encroachment on state sovereignty of international law - enshrined in numerous treaties and conventions - allows NGO's to get involved in hitherto strictly domestic affairs like corruption, civil rights, the composition of the media, the penal and civil codes, environmental policies, or the allocation of economic resources and of natural endowments, such as land and water. No field of government activity is now exempt from the glare of NGO's. They serve as self-appointed witnesses, judges, jury and executioner rolled into one.

Regardless of their persuasion or modus operandi, all NGO's are top heavy with entrenched, well-remunerated, extravagantly-perked bureaucracies. Opacity is typical of NGO's. Amnesty's rules prevent its officials from publicly discussing the inner workings of the organization - proposals, debates, opinions - until they have become officially voted into its Mandate. Thus, dissenting views rarely get an open hearing.

Contrary to their teachings, the financing of NGO's is invariably obscure and their sponsors unknown. The bulk of the income of most non-governmental organizations, even the largest ones, comes from - usually foreign - powers. Many NGO's serve as official contractors for governments.

NGO's serve as long arms of their sponsoring states - gathering intelligence, burnishing their image, and promoting their interests. There is a revolving door between the staff of NGO's and government bureaucracies the world over. The British Foreign Office finances a host of NGO's - including the fiercely "independent" Global Witness - in troubled spots, such as Angola. Many host governments accuse NGO's of - unwittingly or knowingly - serving as hotbeds of espionage.

Very few NGO's derive some of their income from public contributions and donations. The more substantial NGO's spend one tenth of their budget on PR and solicitation of charity. In a desperate bid to attract international attention, so many of them lied about their projects in the Rwanda crisis in 1994, recounts "The Economist", that the Red Cross felt compelled to draw up a ten point mandatory NGO code of ethics. A code of conduct was adopted in 1995. But the phenomenon recurred in Kosovo.

All NGO's claim to be not for profit - yet, many of them possess sizable equity portfolios and abuse their position to increase the market share of firms they own. Conflicts of interest and unethical behavior abound.

Cafedirect is a British firm committed to "fair trade" coffee. Oxfam, an NGO, embarked on a campaign targeted at Cafedirect's competitors, accusing them of exploiting growers by paying them a tiny fraction of the retail price of the coffee they sell. Yet, Oxfam owns 25% of Cafedirect.

Large NGO's resemble multinational corporations in structure and operation. They are hierarchical, maintain large media, government lobbying, and PR departments, head-hunt, invest proceeds in professionally-managed portfolios, compete in government tenders, and own a variety of unrelated businesses. The Aga Khan Fund for Economic Development owns the license for second mobile phone operator in Afghanistan - among other businesses. In this respect, NGO's are more like cults than like civic organizations.

Many NGO's promote economic causes - anti-globalization, the banning of child labor, the relaxing of intellectual property rights, or fair payment for agricultural products. Many of these causes are both worthy and sound. Alas, most NGO's lack economic expertise and inflict damage on the alleged recipients of their beneficence. NGO's are at times manipulated by - or collude with - industrial groups and political parties.

It is telling that the denizens of many developing countries suspect the West and its NGO's of promoting an agenda of trade protectionism. Stringent - and expensive - labor and environmental provisions in international treaties may well be a ploy to fend off imports based on cheap labor and the competition they wreak on well-ensconced domestic industries and their political stooges.

Take child labor - as distinct from the universally condemnable phenomena of child prostitution, child soldiering, or child slavery.

Child labor, in many destitute locales, is all that separates the family from all-pervasive, life threatening, poverty. As national income grows, child labor declines. Following the outcry provoked, in 1995, by NGO's against soccer balls stitched by children in Pakistan, both Nike and Reebok relocated their workshops and sacked countless women and 7000 children. The average family income - anyhow meager - fell by 20 percent.

This affair elicited the following wry commentary from economists Drusilla Brown, Alan Deardorif, and Robert Stern:

"While Baden Sports can quite credibly claim that their soccer balls are not sewn by children, the relocation of their production facility undoubtedly did nothing for their former child workers and their families."

This is far from being a unique case. Threatened with legal reprisals and "reputation risks" (being named-and-shamed by overzealous NGO's) - multinationals engage in preemptive sacking. More than 50,000 children in Bangladesh were let go in 1993 by German garment factories in anticipation of the American never-legislated Child Labor Deterrence Act.

Former Secretary of Labor, Robert Reich, observed:

"Stopping child labor without doing anything else could leave children worse off. If they are working out of necessity, as most are, stopping them could force them into prostitution or other employment with greater personal dangers. The most important thing is that they be in school and receive the education to help them leave poverty."

NGO-fostered hype notwithstanding, 70% of all children work within their family unit, in agriculture. Less than 1 percent are employed in mining and another 2 percent in construction. Again contrary to NGO-proffered panaceas, education is not a solution. Millions graduate every year in developing countries - 100,000 in Morocco alone. But unemployment reaches more than one third of the workforce in places such as Macedonia.

Children at work may be harshly treated by their supervisors but at least they are kept off the far more menacing streets. Some kids even end up with a skill and are rendered employable.

"The Economist" sums up the shortsightedness, inaptitude, ignorance, and self-centeredness of NGO's neatly:

"Suppose that in the remorseless search for profit, multinationals pay sweatshop wages to their workers in developing countries. Regulation forcing them to pay higher wages is demanded... The NGOs, the reformed multinationals and enlightened rich-country governments propose tough rules on third-world factory wages, backed up by trade barriers to keep out imports from countries that do not comply. Shoppers in the West pay more - but willingly, because they know it is in a good cause. The NGOs declare another victory. The companies, having shafted their third-world competition and protected their domestic markets, count their bigger profits (higher wage costs notwithstanding). And the third-world workers displaced from locally owned factories explain to their children why the West's new deal for the victims of capitalism requires them to starve."

NGO's in places like Sudan, Somalia, Myanmar, Bangladesh, Pakistan, Albania, and Zimbabwe have become the preferred venue for Western aid - both humanitarian and financial - development financing, and emergency relief. According to the Red Cross, more money goes through NGO's than through the World Bank. Their iron grip on food, medicine, and funds rendered them an alternative government - sometimes as venal and graft-stricken as the one they replace.

Local businessmen, politicians, academics, and even journalists form NGO's to plug into the avalanche of Western largesse. In the process, they award themselves and their relatives with salaries, perks, and preferred access to Western goods and credits. NGO's have evolved into vast networks of patronage in Africa, Latin America, and Asia.

NGO's chase disasters with a relish. More than 200 of them opened shop in the aftermath of the Kosovo refugee crisis in 1999-2000. Another 50 supplanted them during the civil unrest in Macedonia a year later. Floods, elections, earthquakes, wars - constitute the cornucopia that feed the NGO's.

NGO's are proponents of Western values - women's lib, human rights, civil rights, the protection of minorities, freedom, equality. Not everyone finds this liberal menu palatable. The arrival of NGO's often provokes social polarization and cultural clashes. Traditionalists in Bangladesh, nationalists in Macedonia, religious zealots in Israel, security forces everywhere, and almost all politicians find NGO's irritating and bothersome.

The British government ploughs well over $30 million a year into "Proshika", a Bangladeshi NGO. It started as a women's education outfit and ended up as a restive and aggressive women empowerment political lobby group with budgets to rival many ministries in this impoverished, Moslem and patriarchal country.

Other NGO's - fuelled by $300 million of annual foreign infusion - evolved from humble origins to become mighty coalitions of full-time activists. NGO's like the Bangladesh Rural Advancement Committee (BRAC) and the Association for Social Advancement mushroomed even as their agendas have been fully implemented and their goals exceeded. It now owns and operates 30,000 schools.

This mission creep is not unique to developing countries. As Parkinson discerned, organizations tend to self-perpetuate regardless of their proclaimed charter. Remember NATO? Human rights organizations, like Amnesty, are now attempting to incorporate in their ever-expanding remit "economic and social rights" - such as the rights to food, housing, fair wages, potable water, sanitation, and health provision. How insolvent countries are supposed to provide such munificence is conveniently overlooked.

"The Economist" reviewed a few of the more egregious cases of NGO imperialism.

Human Rights Watch lately offered this tortured argument in favor of expanding the role of human rights NGO's: "The best way to prevent famine today is to secure the right to free expression - so that misguided government policies can be brought to public attention and corrected before food shortages become acute." It blatantly ignored the fact that respect for human and political rights does not fend off natural disasters and disease. The two countries with the highest incidence of AIDS are Africa's only two true democracies - Botswana and South Africa.

The Centre for Economic and Social Rights, an American outfit, "challenges economic injustice as a violation of international human rights law". Oxfam pledges to support the "rights to a sustainable livelihood, and the rights and capacities to participate in societies and make positive changes to people's lives". In a poor attempt at emulation, the WHO published an inanely titled document - "A Human Rights Approach to Tuberculosis".

NGO's are becoming not only all-pervasive but more aggressive. In their capacity as "shareholder activists", they disrupt shareholders meetings and act to actively tarnish corporate and individual reputations. Friends of the Earth worked hard last year to instigate a consumer boycott against Exxon Mobil - for not investing in renewable energy resources and for ignoring global warming. No one - including other shareholders - understood their demands. But it went down well with the media, with a few celebrities, and with contributors.

As "think tanks", NGO's issue partisan and biased reports. The International Crisis Group published a rabid attack on the then incumbent government of Macedonia, days before an election, relegating the rampant corruption of its predecessors - whom it seemed to be tacitly supporting - to a few footnotes. On at least two occasions - in its reports regarding Bosnia and Zimbabwe - ICG has recommended confrontation, the imposition of sanctions, and, if all else fails, the use of force. Though the most vocal and visible, it is far from being the only NGO that advocates "just" wars.

The ICG is a repository of former heads of state and has-been politicians and is renowned (and notorious) for its prescriptive - some say meddlesome - philosophy and tactics. "The Economist" remarked sardonically: "To say (that ICG) is 'solving world crises' is to risk underestimating its ambitions, if overestimating its achievements."

NGO's have orchestrated the violent showdown during the trade talks in Seattle in 1999 and its repeat performances throughout the world. The World Bank was so intimidated by the riotous invasion of its premises in the NGO-choreographed "Fifty Years is Enough" campaign of 1994, that it now employs dozens of NGO activists and let NGO's determine many of its policies.

NGO activists have joined the armed - though mostly peaceful - rebels of the Chiapas region in Mexico. Norwegian NGO's sent members to forcibly board whaling ships. In the USA, anti-abortion activists have murdered doctors. In Britain, animal rights zealots have both assassinated experimental scientists and wrecked property.

Birth control NGO's carry out mass sterilizations in poor countries, financed by rich country governments in a bid to stem immigration. NGO's buy slaves in Sudan thus encouraging the practice of slave hunting throughout sub-Saharan Africa. Other NGO's actively collaborate with "rebel" armies - a euphemism for terrorists.

NGO's lack a synoptic view and their work often undermines efforts by international organizations such as the UNHCR and by governments. Poorly-paid local officials have to contend with crumbling budgets as the funds are diverted to rich expatriates doing the same job for a multiple of the cost and with inexhaustible hubris.

This is not conducive to happy co-existence between foreign do-gooders and indigenous governments. Sometimes NGO's seem to be an ingenious ploy to solve Western unemployment at the expense of down-trodden natives. This is a misperception driven by envy and avarice.

But it is still powerful enough to foster resentment and worse. NGO's are on the verge of provoking a ruinous backlash against them in their countries of destination. That would be a pity. Some of them are doing indispensable work. If only they were a wee more sensitive and somewhat less ostentatious. But then they wouldn't be NGO's, would they?

About the Author

Sam Vaknin is the author of Malignant Self Love - Narcissism Revisited and After the Rain - How the West Lost the East. He is a columnist for Central Europe Review, PopMatters, and eBookWeb , a United Press International (UPI) Senior Business Correspondent, and the editor of mental health and Central East Europe categories in The Open Directory Bellaonline, and Suite101 .

Until recently, he served as the Economic Advisor to the Government of Macedonia.

Visit Sam's Web site at http://samvak.tripod.com

palma@unet.com.mk

Don't Let The Holidays Detour You From Your Financial Goals

Author by James H. Dimmitt

Do you dread going to your mailbox and finding yet another credit card bill? Do you find yourself worrying about how you’ll pay your bills from one month to the next ?

Guess what ? You’re not alone. Almost half the households in America report having difficulty paying their minimum monthly payments on credit card bills and other debts.

We have become a nation hooked on credit. Recent government statistics on American debt show that:

~ Over 40% of US families spend more than they earn.

~ The typical U.S. household has an average credit-card balance of $8,940.

~ Credit card debt is up 36% from just 5 years ago.

~ 92% of U.S. family disposable income is spent on paying debts, up from 65% in 1975.

How did we get ourselves in such a mess ? According to Dayana Yochim, a journalist and teacher for The Motley Fool, “It's not just that we're borrowing more money and paying it back more slowly; it's that we're spending money we used to consider off-limits.”

Yochim points to the popularity of home equity loans and lines of credit as just one example. “Home equity loans are more popular than ever as people borrow against their home to feed their spending binge.”

According to a BusinessWeek report, total household debt topped 100% of disposable annual income last year for the first time ever.

“The problem with credit for many people is that it’s just too easy to get into a rut with bad spending habits,“ says Rich Vorland of Consumer Credit Counseling. “Credit gives everyone the instant gratification of getting something they want right now. We don’t have to save up for it. We don’t have think of how we’ll pay for it until the bill arrives.”

And therein lies the problem for many holiday shoppers. Too often we pull out the plastic without thinking of how we’ll actually pay for the things we buy. How many of us are still paying off credit card debt from last year’s holidays? Adding additional debt will only keep you buried in debt for many more years.

For example, let’s say you have a credit card debt of $2500 with an APR of 18%. If you only pay the minimum amount due it will take you 20 YEARS to pay off your balance, assuming of course you don’t make any other credit purchases. On top of that you will have paid your credit card company a whopping $3,365.51 in interest!

If you’ve been working to eliminate or pay down credit card debt, don’t let the holidays detour you from that goal. Use only cash to pay for the presents you plan to buy. If you must use a credit card, set a goal to pay off that debt within one to two months. Otherwise you’ll be right back where you started from or even worse - further and further in debt.

© 2003, www.yourfreecreditreportnow.com

Author: James H. Dimmitt

James is editor of "TO YOUR CREDIT", a weekly free newsletter. Subscribe by visiting http://tinyurl.com/bgo9.

He is also author of “Identity Theft - How to Avoid Becoming the Next Victim!” available at http://tinyurl.com/bc45