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Wealth and Wisdom http://wealth-and-wisdom.com Wealth and life balance through entrepreneurship Tue, 06 Oct 2015 23:11:15 +0000 en-US hourly 1 http://wordpress.org/?v=4.3.5 Understanding Green Card Job Sponsorships http://wealth-and-wisdom.com/2015/03/02/understanding-green-card-job-sponsorships/ http://wealth-and-wisdom.com/2015/03/02/understanding-green-card-job-sponsorships/#comments Mon, 02 Mar 2015 12:00:42 +0000 http://wealth-and-wisdom.com/?p=1108 The green card job sponsorship is basically a request that is made for foreigners to receive a document that would allow the individual to live and work in the USA in a legal way. It is quite similar to the sponsored jobs in Australia. Requests can be made by employers, spouse or another immediate family […]]]> The green card job sponsorship is basically a request that is made for foreigners to receive a document that would allow the individual to live and work in the USA in a legal way. It is quite similar to the sponsored jobs in Australia. Requests can be made by employers, spouse or another immediate family member. Authorities have to be satisfied by the employer that the individual that is to be hired possesses all the necessary skills required. Green card sponsorship can only be started by the spouse in the event that there is a permanent residency status.

Family Relationship Sponsorship

This one is the simplest of the option but it is also one that is quite difficult to achieve since there is a need to have relationship proof between the person that has permanent residence and the receiver. Petitioners should prove that they can properly take care of the individual that is to receive the visa. That is necessary in order to cover expenses until the individual can become financially independent.

The processing fee associated with the family relationship based green card sponsorship is usually over $1000. Just some of those that apply for a permanent residence status will be approved so it is difficult to find something that is great. Valid family relationship proof is rarely actually offered. This includes letters, family albums, emails and sometimes even phone call records.

Employer Relationship Sponsorship

This type of visa will always appear in the event that there is adequate proof that the applicant has the necessary qualifications to hold the employer issued job position. In many situations the applicant is already working in the US for the same employer but there is another type of temporary visa that is in place. The process is basically similar to a status change in this case. However, it is possible that the emigrant is currently located outside US.

The employer that sponsors the candidate has to file a specific document stating that there are no US citizens that are qualified and willing to do that job that the applicant is to be hired for. It is a document that should be associated with advertising proof for the specific position with specifications of the skills necessary. The document needs to be approved before applying for the sponsorship by the US Department Of Labor.

Green card sponsorships for employments are divided into different classes in order to accommodate various immigrant categories.

Conclusions

The green card job sponsorships are really useful for basically every employer that needs people from other countries and for immigrants that need access to better working opportunities. It is really important though that the process is handled properly. No matter what you may be tempted to believe at the moment, it is quite difficult to make sure that the process is successful. The documentation that is required is not easy to file. It is always a very good idea that you are patient and that you work with someone that has a lot of experience in gaining such sponsorship visas.

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Where Does the Value of the Market “Go”? http://wealth-and-wisdom.com/2015/02/26/where-does-the-value-of-the-market-go/ http://wealth-and-wisdom.com/2015/02/26/where-does-the-value-of-the-market-go/#comments Thu, 26 Feb 2015 12:00:47 +0000 http://wealth-and-wisdom.com/?p=1104  

A quick glance at any stock chart representing the size of the market at any given time makes one thing abundantly clear. The market is bigger (at the moment of this writing) than at any other time in its history. With so much wealth brought into existence by various innovations and industries, it can be hard for the average person to conceptualize just where all this wealth exists. Where did it come from? Where is it now? What is it doing? With many market analysts optimistic about continued market growth, one can feel reasonably sure that value will only continue to be generated. With a trajectory of onward and upward growth, it is important for the average person and new investor to have a conception of the structures that form the market.

  • Where is the Wealth Coming From. The value of the market comes from a lot of places. It is impossible in a single paragraph to even broach the issue. But simply put, markets are built upon resources and trade. Much of the current growth we still enjoy is built upon the innovations of the industrial revolution. The ability to forge and build with steel not only created and honed the potential value of a resource, the infrastructures built from it also “locked in” wealth in the form of skyscrapers and train lines. More on this in a moment. Values also “inflate” through trade, on small and large levels. Nations trade with other nations in huge exchanges of products and raw goods, currencies fluctuating in relative value to one another in order to secure the best deals, deal with internal tax issues, and to correct other problems. With everyone on the planet trying to secure the best price for whatever it is they are selling, you can see how the value of just about everything would have the tendency to rise significantly over time. More resources must be harvested to provide real-world goods to match the figurative value of paper and digital money. It’s all very complex, but it works something like that.
  • What is the Wealth Doing? Not all wealth is liquid. In fact, very much of many people’s net worth is made up of assets that cannot be spent, at least until liquidated. While we certainly have many billionaires, a lot of wealth is essentially owned by no one in particular. Consider city infrastructure. While plenty of big buildings are owned by municipalities and individuals, yielding dividends, many public structures exist first of all for the good of real people. Highways, airports, and health systems, while profitable in some forms, are often notoriously difficult to monetize efficiently. Therefore, their existence is based more on the public good than their earning potential. In this way, society is built upon wealth, in the form of structures and conveniences built to benefit everybody. It’s a big political challenge for lawmakers to decide how much wealth can be privately held, by individuals and private companies, and how much should be reinvested in public life in a form that no one person can “cash in on”.

You can see that there is a lot more to the conception of wealth and the underlying value of the market than is commonly appreciated. As another election and many provisional infrastructure projects are discussed, it will be interesting to see to what extent the growing wealth of our nation is prioritized.

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The Key to Saving Your Hospital Infographic http://wealth-and-wisdom.com/2014/11/23/the-key-to-saving-your-hospital-infographic/ http://wealth-and-wisdom.com/2014/11/23/the-key-to-saving-your-hospital-infographic/#comments Sun, 23 Nov 2014 23:26:43 +0000 http://wealth-and-wisdom.com/?p=1099 The George Washington University School of Business has created this great infographic.

The Key to Saving Your Hospital

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How Investment ISAs Work http://wealth-and-wisdom.com/2014/09/25/how-investment-isas-work/ http://wealth-and-wisdom.com/2014/09/25/how-investment-isas-work/#comments Thu, 25 Sep 2014 14:43:49 +0000 http://wealth-and-wisdom.com/?p=1095 If you’re shopping around for the right way to organize your wealth and plan for your retirement, then you are bound to have come across ISAs early on in your quest. You may have read about standard cash ISAs which are ultimately simple tax-free savings accounts. However for something different you may be interested in stocks and shares ISAs, which give you more freedom in the types of investments you choose. This is how they work and what they are all about.

Freedom to Invest

A stocks and shares ISA like this is a tax-efficient investment account that gives you the ability to put money into a range of different types of investments, whether it’s unit trusts, open-ended investment companies, investment trusts, and even government bonds and corporate bonds. Unlike cash ISAs however, you should only invest if you are comfortable enough to take the risk that your investments may go down in value as well as up. In the 2014-15 tax year you can top up your ISAs to a new limit of £15,000. Under the new rules, you can split your ISA allowance between cash and stocks and shares, with no maximum cash component. It’s up to you how you want to split it between cash and investments, meaning you have considerable flexibility with where your money goes.

Advantages

There are all kinds of benefits that come with investment ISAs, especially in terms of tax savings. If you’re earning income from your investments then you can save on your tax bill by buying share-based investments within your ISA. If you don’t make capital gains of more than £11,000 in the tax year then you won’t have to pay any tax when you sell your investment as that is the current allowance, both inside and outside the ISA. If you earn dividends from your investments outside an ISA then you will be expected to pay tax of 32.5% if you’re a higher rate taxpayer. If however you’re investing via an ISA you’ll only have to pay a tax rate of 10% on your dividends, with no need to pay additional tax elsewhere.

How Much?

You can find options for investment ISAs from a wide range of providers such as Killik & Co. The costs of investing within an investment ISA will of course vary, depending on what you choose to invest and which provider you want to use. However it’s important to bear in mind charges won’t usually be higher than those you would pay if you decided to invest outside an ISA. Wherever you go, be sure that you have all the information that you need to make the best decision for your money.

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Not My Circus, Not My Monkeys http://wealth-and-wisdom.com/2014/09/23/not-my-circus-not-my-monkeys/ http://wealth-and-wisdom.com/2014/09/23/not-my-circus-not-my-monkeys/#comments Tue, 23 Sep 2014 14:03:45 +0000 http://wealth-and-wisdom.com/?p=1090 For years I was the first person to jump into a debate and fiercely argue my views. And why wouldn’t I? I knew I was right and they were wrong.

I was also quick to jump in and solve everyone’s problems. I am really good at troubleshooting and fixing things, and to me it is easy and fun. But it created some problems:

  • It created nothing but chaos.
  • I was taking on their problems as my own. I already have enough problems, I don’t yours as well!
  • My help was often unwanted. The other person would get upset at me for “solving their problems” instead of listening. I would get upset because I felt unappreciated.
  • I robbed the other person of the learning experience that God was giving them. Learning from your mistakes and solving your own problems is the fasted path to personal growth!

So now I find myself saying “not my circus, not my monkeys.”

I don’t have to agree with your actions, choices, and lifestyle decisions. Unless they are picking my pocket or breaking my bones it isn’t my business…not my circus, not my monkeys!”

Most of the time I say it to myself, and it is a powerful reminder of some key concepts:

It isn’t my business: as time goes by I find myself taking a more libertarian view. Don’t get me wrong,  I have strong personal views. I know what I believe in and have done the research to ensure my views are based on fact not just emotion or rhetoric. I also firmly believe that you have the right to your own views. While I enjoy a lively discussion and using the debate to help clarify and improve our views, my job isn’t to stamp out views that I disagree with!

It isn’t my job to fix this: I have enough on my plate as it is. I dont need ti be jumping into your problems and taking them on as my own. I don’t need the stress and you don’t want my help!

This is different from helping a friend in need. If you come to me for help I’ll be there to help. I wont solve your problems for you but I will pitch in, guide you, and be there for support.

We each have to take our own path: one of the best parts of life is learning and growing, and if I jump into your problems I rib you of this blessing.

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International business markets: bridging the gap http://wealth-and-wisdom.com/2014/02/28/international-business-markets-bridging-the-gap/ http://wealth-and-wisdom.com/2014/02/28/international-business-markets-bridging-the-gap/#comments Fri, 28 Feb 2014 14:56:39 +0000 http://wealth-and-wisdom.com/?p=1068 In order for businesses to achieve their full potential, a global outlook is essential.

According to recent research conducted by Barclays, companies take an average of four years before realising that operating in the UK market alone will stop them from achieving their aspirations for the future.

The study recommended that firms take the plunge into an overseas market sooner rather than later. When it quizzed them on why they had avoided taking their goods or services abroad, it was revealed that the main issue was a psychological one and businesses were simply too cautious in moving into unknown territory.

However, after 86 per cent of respondents who had already started exporting told the survey that getting started had either matched their expectations or had been easier than they had anticipated – there is no reason why more can’t make a go of it.

With this in mind, here are a few tips on how to make sure that the pitfalls that do exist can be avoided.

Culture shock

One of the most important things you can do is respect local customs. It is essential to do a bit of research before meeting with someone you plan to business with who is from a different country for the first time.

In the early stages of making contact and networking in your new territory, your focus should very much be on relationships rather than the sale and developing that rapport and trust with a new associate can take time.

During business trips, if you show respect for their local culture and display knowledge on their own expectations of how your partnership should be approached, this can certainly speed that process up.

Time zones

As much as recognising that people conduct their affairs in different ways is important, it is an equally good idea to appreciate that your friend in Japan may not appreciate a phone call at two in the morning simply because it’s nearing the end of your working day.

One tip would certainly be to negotiate a time with your partner that suits the both of you. While there might be a little compromise from one or both parties, this will provide a much more amicable outcome overall.

Unfortunately, this is often a challenge that needs to be faced when international conference calls are involved – however, the good news is that it is easily remedied if everyone involved gives it enough thought.

Currency issues

Getting to grips with fluctuating exchange rates and dealing in different currencies can always be a daunting prospect – especially when starting out in your exporting venture.

However, don’t be tempted to operate in pounds, as using the native currency instead will present your business offer as a more competitive and attractive prospect.

As you get more confident in dealing with the overseas market, another trap to avoid is trying to beat the exchange. This, in theory, is done by making a profit on trading between currencies depending on whether they are on the rise or their value is decreasing. However, this is an incredibly risky practice and you have to consider whether your hard earned cash is really worth chancing.

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Umbrella companies: Make the right choice http://wealth-and-wisdom.com/2014/02/26/umbrella-companies-make-the-right-choice/ http://wealth-and-wisdom.com/2014/02/26/umbrella-companies-make-the-right-choice/#comments Wed, 26 Feb 2014 14:54:55 +0000 http://wealth-and-wisdom.com/?p=1066 Using an umbrella company can be a simple process. However, before you choose it is important that you select the firm that offers the most to you.

There are also a number of factors contractors should be aware of when deciding which one to use.

Reputation

Umbrella company reviews can be a good place to start. Online testimonials from fellow contractors are a valuable source of information, but also ask freelance workers you know which companies they may have used.

A good reputation is essential as it allows you to feel confident with the company that is handling your livelihood.

Companies with an established history of payroll assistance are usually the best option for contractors as they will have the most experience. Using a newly established firm means contractors run the risk of losing their money to an illegitimate operator.

Openness

A top company should be able to provide you with a number of documents at your request. Items like a HMRC approved expenses policy and an employment contract are both good indicators that the firm is well organised and legitimate.

A face to face meeting can also be a good way to determine a company’s credibility. One-on-one contact with an umbrella company can give contractors a chance to get to know the firm handling their finances.

Where are they based?

Contractors should choose a company that is based in the UK. If you use a foreign firm it can make chasing up any problems a lot harder.

Composite companies

Contractors who wish to use an umbrella company should be aware of the differences to a composite company. Where as an umbrella will mainly pay through PAYE, composite companies have a slightly different way of doing things.

They may offer a different service which includes dividends as well as a salary. Firms that offer this service are usually known by the term “composite company”.

The way these tend to work is through a group of contractors forming together and owning the equity of the company – Shares of the business vary in class. The company bills clients and then a nominal salary is paid to each contractor. Minimal taxes and NICs are paid on the salary. Dividends are then also paid out depending on the shares you own – again lower tax is paid and no NICs.

If a composite company does not meet the relevant criteria of a Managed Service Company then it must also consider which contracts fall within IR35.

An umbrella company acts as an employer and therefore offers a salary through PAYE. This means that as your contract will fall within IR35 you do not have to concern yourself with it as much.

Ethics

What are the company’s views when it comes to topics such as tax and NICs – and do they match your own? Everything should be legitimate and above board in order to remain compliant with the HM Revenue & Customs.

All umbrella companies are regulated by HMRC, so if one is offering you something that seems too good to be true, it probably is.

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Success in face to face sales http://wealth-and-wisdom.com/2014/02/11/success-in-face-to-face-sales/ http://wealth-and-wisdom.com/2014/02/11/success-in-face-to-face-sales/#comments Tue, 11 Feb 2014 11:30:01 +0000 http://wealth-and-wisdom.com/?p=1059 Face to face sales are often the most evocative and convincing ways of promoting your products and services – so long as you are good at it! There needs to be a passion about what you are trying to sell, as well as a deep understanding of the product range – whether that’s pricing, technical information or other areas such as packaging or delivery options. It can be a tricky thing to master, but once you do you will be armed with a vital way to generate regular revenue streams for your company.

First and foremost sales isn’t for everyone – especially those that aren’t good communicators. But those that do like to get themselves heard can be a great part of the sales team, provided they are given the right tools to succeed. If your company is an established market player, the main thing to get across in a sales pitch is your brand values and what these values mean for your customers. Passion for the brand and an intimate knowledge of the company’s inner workings are the starting points for a successful sales pitch.

Where will you be interacting face to face with potential clients?

You may be able to set up face to face sales meetings via cold calling or email prospecting. But these forms of marketing often have a low response rate. It may be easier to follow up ‘warm leads’ such as recent registrants on your website or prospects that have recently requested a product catalogue.

You could also look to make face to face sales at networking events and exhibitions. These venues will have people expecting to be knocked off their feet with a sales pitch and it is your job to do that. You won’t be armed with your projector and glossy presentation, but that’s not to say you can’t leave your target audience with a lasting reminder of your company. Promotional items such as lanyards that are emblazoned with your brand will help keep your company at the forefront of people’s minds. Take a look at all the different promotional products available by clicking here.

What makes a good salesperson?

Obviously it won’t be a shock to anyone that field sales professionals need to not only have a sure grasp of sales, but also have finely-tuned communication skills, but what else must they do? They need to be able to adopt expert status. When presenting their brand they are likely to be asked questions and they must be able to give an answer without being prompted.

Bring what you are saying to life with your voice projection and body language, this can go a long way to build rapport with your target audience. As can the exuding of confidence. This can easily impress people when talking to them face to face and it helps you come off as an expert in your field and shows you are proud of the products on offer.

Provide sales people with the correct training

Sales executives may be brilliant at closing deals but if they haven’t been trained on the company’s brand, products and services, then they will struggle to bring in any new customers. If you manage a field sales team, it is your responsibility to train your team on existing products and services as well as schedule regular briefings on anything new in the pipeline. That way, your sales team can be first to market with exciting new products and service propositions.

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Make your wallet heavier with these cash-saving measures http://wealth-and-wisdom.com/2014/02/07/make-your-wallet-heavier-with-these-cash-saving-measures/ http://wealth-and-wisdom.com/2014/02/07/make-your-wallet-heavier-with-these-cash-saving-measures/#comments Fri, 07 Feb 2014 11:30:56 +0000 http://wealth-and-wisdom.com/?p=1057 In this world of financial crises and banks going bust, homes re-mortgaged and debts piling up, it’s important to be as financially responsible as possible. And yet, there’s a growing culture of frivolous spending that, with the rise of one-click online shopping, is an easy trap to fall into.

But, you can combat those bills and temptations with a few cash-saving measures. With a more frugal outlook and a few wise investments, you’ll find that a life with extra cash in your pocket beats one of pointless purchases every time.

So, here are a few cash-saving tips to turn your bank account from a financial bear pit to a cash-stable haven.

Make plans for your passing

Funerals are an expensive burden to bear for your family when you pass, which is why you should prepare with a funeral plan.

Funeral plans allow you peace of mind, ensuring that your service is paid for with a series of low-cost monthly payments.

More than this, arranging your funeral in advance allows you to get the send-off that you want. This means you can pick your favourite songs, poems or hymns – or maybe even something more outlandish for a truly unique service – to really add that personal touch.

Spend with cash instead of cards

Here’s an interesting fact for you – you’re more likely to splash out using a credit or debit card than you are with cash.

Various studies have shown that the mind suffers from a sense of “payment decoupling”, which is a fancy term meaning that we feel less like we’re spending cash if we use cards. For whatever reason, using a card just feels less “real” than spending cold, hard cash.

So, the lesson is that you should use real cash as often as possible and, through a neat trick of psychology, you’ll be more inclined to spend wisely.

Be energy-conscious in your home

Nowadays, the energy-conscious home is the cash-saving home. Just think about it – every light left on, every kettle with too much water in it and every washing machine used at too high a temperature can waste energy and mount up those bills.

Using simple measures to cut down on your energy output can really aid you in your cash-saving endeavours, with something as basic as turning down your heating saving you dough. So, give it a go and you’ll find your wallet will be that little bit heavier.

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How can I motivate my employees? http://wealth-and-wisdom.com/2014/02/04/how-can-i-motivate-my-employees/ http://wealth-and-wisdom.com/2014/02/04/how-can-i-motivate-my-employees/#comments Tue, 04 Feb 2014 11:30:01 +0000 http://wealth-and-wisdom.com/?p=1055 It’s the question asked by all but the most experienced of people managers: how can I motivate my employees? While there’s no one-size-fits-all answer to this quandary, there are a number of tips and techniques that can be used to make sure you are getting the most out of your personnel.

Staff benefits

Providing staff benefits to employees is a fantastic way of increasing engagement and motivation. While increased remuneration is a well regarded and acknowledged way of getting the best out of personnel, it’s also very expensive and can inflate budgets to unsustainable levels.

Perks and other employee benefits are a much more cost effective way of pumping up your workers so that they feel absolutely ready to go and drive sales and increase their productivity.

But many bosses are reluctant to put benefits schemes in place because they are worried about low uptake. This can be mitigated by bringing in a third-party provider who can tell you how to get the best out of your personnel at a low cost.

Business lunches

Stuffing a few sandwiches down your mouth while staring at a spreadsheet at lunchtime is thoroughly unpleasant, as all but the most dishonest office employees will attest to – but many firms are banning fast lunches and forcing bonding meals among staff members.

The city center location of many companies’ workplace means that there are a vast number of restaurants to choose from. In fact, having hour long, three-course lunches has long been a tradition of French firms, who have higher retention and productivity rates than the UK.

Rewards and recognition

Giving out statues, medals and other trinkets to staff members that perform well and drive higher sales might seem a bit of an odd way to reward success, but it has been proven to increase engagement and motivation.

Those who receive the awards will feel that their hard work has been recognized and this improves retention, as there is nothing as demoralizing as being unappreciated by superiors if you’ve done something amazing.

Positive reinforcement

Telling your workers when they’re doing something right can seem like a pointless endeavor. After all, isn’t it their job to get things done on time and to the desired standard?

While this might be true to an extent, personnel still need a pat on the back to let them know that they are meeting your expectations and this can really help in improving motivation, engagement and retention. Nobody wants to feel like only the negatives are being put under the spotlight.

After work activities

Going out after work and having a few cold ones might not seem like a team-building exercise, but it promotes inter-team happiness and helps people to become friends outside of the more sterile office environment.

Sure those who get a little worse for wear might want to make sure they don’t embarrass themselves too much, but unwinding after a tough week is a fantastic way to improve morale when staff’s backs are against the wall with deadlines and hard projects.

Group charity work

Whether it be through fun runs, marathons, bike rides or sponsored swims – group charity work can help staff to see they are working for a company that understands the need for corporate social responsibility and ethics.

This will undoubtedly increase morale and motivation.

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