General Personal Finance

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Digital Power Corporation DPW Stock News

Digital Power Corporation (NYSEAMERICAN: DPW) is having a relatively strong start to the trading session this morning after the company made an announcement with regard to co-locations as part of its goals surrounding cryptocurrency mining. Today, we’ll talk about the announcement, what we’re seeing from the stock, and what we’ll be watching for with regard to DPW ahead.





DPW Gains On Co-Location Announcement

As mentioned above, Digital Power Corporation is having a relatively strong start to the trading session this morning after the company announced that it has added the use of co-locations to its deployment strategy surrounding cryptocurrency mining. This is one of the strategies that the company is using in order to achieve its goal of 10,000 digital miners of cryptocurrency deployed worldwide.

In the press release, DPW informed investors that it entered into its first co-location agreement last week. The agreement covers the installation of 1,000 units digitally mining a mix of the top 10 cryptocurrencies. This is in addition to the units that are already operating.

DPW said that the cryptocurrency mining division decided that co-locations would be the best way to attain its goal of 10,000 machines in a timely manner. Essentially, these locations host servers and network devices that can rapidly be leveraged.




In the press release, Digital Power Corporation said that these co-locations offer some great advantages. These advantages include privacy, security, operational access and control, strong power capacity and redundancy, and come with great operation expertise.

What We’re Seeing From The Stock

As investors, one of the first things that we learn is that the news moves the market. With news that DPW is working hard to reach its goal of 10,000 digital currency miners, it only makes sense that investors are excited and pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:40), DPW is trading at $4.33 per share after a gain of $0.19 per share (4.59%) thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on DPW. In particular, we’re interested in following the story surrounding the development of the company’s cryptocurrency mining division. However, don’t forget about the company’s work in power systems for the commercial and defense sectors, as these areas of the business are definitely growing as well. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Northern Dynasty Minerals LTD NAK Stock News

Northern Dynasty Minerals Ltd (NYSEAMERICAN: NAK) is having a strong day in the market today. As soon as we received the alert, we started digging to see what was happening. While the company has released no news as of late, there’s plenty of reason to be excited about the future here. Today, we’ll talk about recent developments surrounding NAK, what we’re seeing from the stock, and what we’ll be watching for ahead.





The Key Value Prospect

For Northern Dynasty Minerals, the key value prospect is known as the Pebble Project. The Pebble Project is a prospective mine that’s located in Alaska. However, because of where it is located, the company has had a big fight on their hands to get the mine permitted. In fact, the company went through a legal battle with the EPA to even be able to file for permits.




Nonetheless, once permitted, the Pebble Project is likely to be one of the world’s biggest mines, proving to be a source of massive amounts of gold, silver, and other basic materials. So, there’s quite a bit of value here once the mine is permitted and operational. The key is getting to that point.

Recent Announcement Suggests That Permitting Will Come Soon

Recently, questions with regard to the Pebble Project were largely answered. In fact, on the seventh of December, Mark Hamilton, Executive Vice President of External Affairs, published information with regard to the company’s plans to file permits in the month of December. A key excerpt from the publication reads as follows:

“I have every confidence that the project we take into permitting later this month will be safe, and that we have the scientific knowledge and technological know-how to be successful.”

The Above Statement Makes Things Very Interesting

The fact that permitting is in the works for the Pebble Project is great news in and of itself for NAK and its investors. However, this news has far-reaching implications. Back in May, management at NAK held a conference. During the conference, they stated that they intended to pursue partnerships before pursuing permitting. Once the partner was locked down, the permits would be filed.

Since this May 12th announcement, there has been no news of partnerships. However, the company has not retracted the statement that they would pursue partnerships first. So, we have to assume that this is still the case.

If Hamilton believes that permits are on track to be filed in the month of December, NAK investors likely have a flurry of good news coming their way. After all, if permits are indeed filed this month, that in and of itself will be a catalyst. However, the idea that permits will be filed also suggests that we’ll see another coming catalyst soon – a partnership announcement.

What We’re Seeing From The Stock

Investors are clearly seeing opportunity here. This can be seen from the gains that we’re seeing on NAK today. Of course, our partners at Trade Ideas were the first to alert us to the movement. Currently (11:56), NAK is trading at $2.09 per share after a gain of $0.08 per share (3.98%) thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on NAK. In particular, we’re watching the Pebble Project as the story unfolds. With the expectation of permit filings this month, we can also expect to see news surrounding partnerships. These catalysts are likely to breathe new life in NAK, and we’re excited to watch it take place. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Digital Power Corporation DPW Stock News

Digital Power Corporation (NYSEAMERICAN: DPW) is having yet another incredibly strong day in the market today as investors continue to see opportunity in the stock. Below, we’ll talk about recent news surrounding DPW, what we’re seeing from the stock today, and what we’ll be watching for ahead.





What We’ve Seen From DPW

As mentioned above Digital Power Corporation is having a strong day in the market today. For those of you who haven’t been following the company, there’s been quite a bit of news surrounding it lately. Most recently, there was an announcement of various offerings. Of course, with concerns of dilution, DPW fell the day of the announcement, but the stock has been headed up recently.




At the end of the day, there has been quite a bit of news surrounding the company, and other than the offering, the news has been overwhelmingly positive. Ultimately, there have been two big updates that we will likely learn more about on the 20th, when the company holds an investor webinar. Nonetheless, here’s what we’ve seen from DPW most recently:

  • Guidance – Recently, Digital Power Corporation released an update with regard to guidance. Previously, it was expected that in the year 2018, the company would generate revenue in the amount of $25 million. However, with the most recent update, the company said that it is now expecting revenue to be in the range between $36 million and $38 million – a massive increase from previous guidance. In the announcement, the company said that the growth is largely the result of strong demand from the commercial and defense businesses.
  • Coolisys Technologies – Another big update from the company recently surrounded their subsidiary known as Coolisys Technologies. In an announcement, DPW said they launched a new product line designed for powering systems for cryptocurrency mining. The new advanced power system is expected to have incredibly high demand as the cryptocurrency industry continues to grow. In a statement, Amos Kohn, President and CEO at Coolisys, had the following to offer:

“We have a competitive advantage given our expertise in developing and providing advanced power solutions for the tech, military, industrial and healthcare sectors. To power the AntMiner S9, we will utilize our field-proven platform, previously implemented to power cloud-based computing networks and services, that employ highly-efficient power switching with fully synchronous rectification and advanced digital signal processing. Our power solutions are based on next-generation design and we believe we are among the most technologically advanced power processing solutions available. We project our cryptocurrency initiatives and products could have a material effect on the Company’s revenue and net income for this component of our operations during 2018. We look forward to presenting what we are developing.”

What We’re Seeing From The Stock Today

As mentioned above, Digital Power Corporation is having an overwhelmingly strong day in the market today, continuing the recent growth we’ve seen on the stock. At the moment (11:01), DPW is trading at $4.42 per share after a gain of $0.60 per share (15.71%) thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on DPW. In particular, we’re interested in following the story surrounding the cryptocurrency initiatives at Coolisys, and we’re excited to learn more about the growth in the commercial and defense sectors. All of this should be updated on the 20th at the next investor presentation. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it break!

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Top Ships Inc TOPS Stock News

Top Ships Inc (NASDAQ: TOPS) is having an incredibly strong start to the trading session this morning as traders go wild and send the stock soaring on high volume. Today, we’ll talk about why the stock is moving up, what we’re seeing from the stock, and a warning surrounding TOPS and other Greek shipping companies.





Why TOPS Is Climbing Today

As mentioned above, Top Ships is having an incredibly strong start to the trading session this morning. As soon as we received the alert from our partners at Trade Ideas, we started digging to see exactly why the stock was making a run for the top. In our digging, we didn’t find any news releases surrounding the stock, so there is no real fundamental reason for the gain we’re seeing in the value of TOPS. However, this isn’t the first time.




Ultimately, we see runs like this all the time in the shipping sector. Ultimately, they are purely the result of technical signals that are exciting traders. When these signals hit, the stock flies, bringing in new traders who send it further and further toward the top. So, if you’re wondering why TOPS is running on high volume, the answer is simply that traders are trading.

What We’re Seeing From The Stock

At the end of the day, when traders get excited, stocks move, and that’s exactly what we’re seeing out of Top Ships today. As excitement continues to grow, the stock is making a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:31), TOPS is trading at $0.45 per share after a gain of $0.08 per share (21.54%) thus far today.

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A Warning Surrounding TOPS And Others Like It!

I’ve been following the shipping industry for some time. I’ve seen the ups and I’ve seen the downs. I warn you, Top Ships may be making a run for the top today. but that’s not going to last very long! The reality is that we see this time and time again with TOPS and others like DRYS, DCIX, SHIP, and more.

Ultimately, while these stocks do tend to represent solid short-term trading opportunities, they are generally not a good choice for the long run. The reality is that the shipping sector started to struggle years ago, and those struggles continued for a long time. As a result, companies like TOPS and others in the industry started to take advantage of death-spiral financing. While moves with financiers like Kalani Investments have been a good source to line the pockets of management of these companies, they have been horrible for investors. Considering the history of TOPS and others like it, I wouldn’t be surprised to see more death-spiral financing in the future. Ultimately, Top Ships, Dry Ships, Diana Containerships, Seanergy Maritime, and other Greek bulk shippers are likely to run in short bursts, but also likely to fall far further than where they started when the run is over.

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on TOPS and others in the dry bulk sector. In particular, we’re watching to see which of these companies starts to take their fiduciary responsibility to investors seriously and improve their financial picture. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Everybody knows that life insurance is a way that people use to protect their loved ones just in case the individual were to pass on unexpectedly. Life insurance is bought by all kinds of people from all sorts of demographics. But life insurance can do more than simply provide a death benefit for people you care about. These are powerful and flexible packages, with potential features that many people aren’t aware of. Here are 3 of the best uncommon ways that life insurance can be used.

To Get a Loan – You can use term life insurance to secure an SBA loan. Many banks require this step for certain kinds of loans, and at times a borrower may be able to get a loan they would not otherwise qualify for because the death benefit acts as collateral. The death benefit, in this case, would be large enough to service the entire balance of the loan. The life insurance term will expire at or after the term of the loan in question. There are many other ways to get a loan, and many other purposes for term life insurance. But if you’re ever in need of a loan and are finding it difficult to secure through other methods, this is a great tidbit to remember.

As An Investment Account – Amateur investors have at least one common tax-protected retirement savings/investment opportunity in traditional and Roth IRAs. These relieve tax obligations either when the money is deposited or when it is eventually withdrawn. People in the working world may have access to a 401(k) or other investment account made available through various workplaces, sometimes with matching funds. For people who have access to only one of those, or who always make the maximum contributions to these accounts while having more to invest left over, whole life insurance accounts may provide yet another tax-protected investment opportunity, to grow the eventual death benefit and/or to increase wealth that will one day go to a cause or to family or loved ones.

To Get Cash Flow – If you have a life insurance option that allows for investment, you’ll eventually be able to borrow against the balance (paying the company back with interest) or withdraw money from your balance (including returns) to pay for something or to act as regular income. This is similar in some ways to the investment option mentioned above, but it’s a distinct behavior that would be available to the investing life insurance holder, but which might not be immediately obvious to someone considering this form of insurance.

Life insurance is pretty much a necessity for most adults. Some may have good reason to choose against it, but there are so many benefits to having life insurance that more people should really know about. Life insurance can provide peace of mind and security for your loved ones at some future time. Find out other ways to make the most of your policy and you’ll be able to set up a plan that works for your unique needs.

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Top Ships Inc TOPS Stock News

Top Ships Inc (NASDAQ: TOPS) is having an incredibly strong start to the trading session this morning. When our partners at Trade Ideas alerted us to the gains, we went digging to see what was happening. However, the company hasn’t released any news. At the end of the day, shipping stocks make these runs often. Today, we’ll talk about what we’re seeing from the stock, what you need to know about TOPS, and what we’ll be watching for ahead.





TOPS Makes A Run For The Top

As mentioned above, Top Ships is having an overwhelmingly strong start to the trading session this morning. As indicators light up on trader screens, the stock is being pushed toward the top. At the moment (9:31), TOPS is trading at $0.71 per share after a gain of $0.17 per share or 31.22% thus far today.




This Is No Surprise

While there has been no news released by TOPS and the stock is running for the top, I’m not surprised. The reality is that we see these types of runs in the shipping sector all the time thanks to the volatile nature of the sector. Nonetheless, if you’re thinking about trading, by all means, do it! However, keep the volatility of the sector in mind and don’t hesitate when it’s time to exit because this thing will likely fall back down, and when it does, it will be a hard fall. However, if you’re thinking about going long with an investment in Top Ships, you may want to reconsider.

The reality is that the shipping sector has struggled for several years, about 9 years in fact. About 9 years ago, we started to watch as the bulk shipping sector felt the pain of the high cost of infrastructure growth with massive acquisitions at the time. From there, the sector continued to fall as shipping prices decreased thanks to reductions in demand as a result of low commodity prices. Through the past 9 years, the struggles have largely pushed companies stocks like TOPS, DRYS, DCIX, and SHIP to move forward with death spiral financing, keeping the company afloat at the cost of dilution and investor losses.

While the shipping sector seems to be going through a recovery at the moment, most of these companies, including TOPS, are still dealing with bad financial decisions. As a result, they are likely going to have to raise more funds ahead, leading to further dilution and further declines.

To make matters worse, Top Ships and companies like it haven’t acted in the best interest of shareholders over the years. Many of these Greek shipping companies have worked with Kalani Investments and other firms who have used the stocks like an ATM at the cost of investors. Sadly, because of where these companies are incorporated, laws surrounding fiduciary responsibility to investors are cloudy at best, making it difficult for investors to find a way to fight back when they are done wrong.

Considering the historic moves of TOPS and others in the sector, even with the shipping sector improving, we can expect to see moves made that are not in the best interest of investors. So, once again, if you’re thinking about investing, please consider doing some digging and looking into the financial data and financial history of the company before you pull the trigger on purchasing a position.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on TOPS, as well as the rest of the shipping industry as many of these stocks are climbing. In particular, we’re interested in seeing if the company takes advantage of the changing tides in the shipping sector and can find a way to recover without causing pain for investors in the process. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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Best Buy Co Inc BBY Stock News

Best Buy Co Inc (NYSE: BBY) was off to a strong start this morning. While the stock started to give back some of the gains, that quickly reversed and the stock started to shoot toward the top as rumors started to break. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:16), BBY is trading at $56.69 per share after a gain of $0.67 per share or 1.20% thus far today.





BBY Gains On Takeover Rumors

As mentioned above, Best Buy has been an interesting stock to watch throughout the trading session today. About 8 minutes ago, the story became more interesting as rumors started to surface on message boards about the company. The rumors suggest that BBY is going to be taken over. However, the suggested story of a takeover is one that’s overwhelmingly vague. There is no indication of who might want to purchase the company, nor at what price.




As is normally the case when rumors cause movements, we’d like remind investors that rumors happen all the time in the market. In fact, takeover rumors are one of the most common forms of stock market manipulation that takes place today. Like most rumors, market rumors very rarely prove to be true. In this particular case, because the rumor is so vague, we do not believe that it holds any validity. So, if you’re going to trade on this news, please be sure to do so with caution.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on BBY. In particular, we’re interested in learning if there is any truth to the rumored takeover. While we don’t believe this to be the case, anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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It is practically impossible to go through life without debts of some sort – you might be immune from debts if you have wealthy parents footing your bills – in which case, you wouldn’t be reading this piece. You’ll most likely have a credit card debt to help you make your regular purchases, you’ll have student loan debt from college expenses, many people also have auto loans, and mortgage loans to keep a roof over their heads.





When you take an objective look at your finances, it is easy to become despondent at the thought of the many unpaid loans. A recent Pew Research survey showed that 8 out of 10 Americans are in debts. 12% Americans believe they won’t get out of debt until they die. Escaping from the dark grip of debt could be difficult; yet, you can get out of debt. There’s no one-size-fits all solution to getting out of debt but this piece looks at three harmless actions that could make it harder for you to get out of debt.




1. Not mastering your emotions

Your emotions could becloud your judgment and make it harder for you to be objective about your debt situation. Starting with fear – fear might cause you to live in denial instead of confronting the reality of your debt problems. The dangerous effect of fear is that you can’t begin to take actions to eradicate your debt until you take the time to honestly appraise how much debt you owe.

Pride is another emotion that could cause you to cheat yourself out of useful resources that could solve your debt problems. For instance, your pride could give you the false confidence that you are still in control of your debt even when a debt consolidation program could relieve your debt burden. In the worst-case scenario, greed could stop you from declaring bankruptcy even though it is a legal option that could help you start afresh.

2. Taking debt with levity

Dealing with debt is a serious task that requires lots of commitment and dedication on your part. Many people find it hard to get out of debt because they don’t place a premium on becoming debt-free. However, the problem with debt is that it tends to increase when you don’t take drastic actions to stop it from growing. Debt will increase because of an increase in your expenses as you grow through life and the interest payments on unpaid debt will add to the debt burden. Unfortunately, your debt problem won’t disappear overnight even with the best of efforts and it is easy to give up along the way if you don’t understand that paying off debt is a long term game.

3. Making minimum monthly payments

Some people are stuck with a debt burden because they make only the minimum monthly payments. Paying the minimum monthly payments will save you from late payment fees but it will take you much longer to pay off your debt, you’ll pay more in interests, and you’ll have the emotional baggage of unpaid debt.

Many credit card companies often include a “Minimum Payment Warning” on credit card statements but most people tend to ignore such warnings. To get out of debt faster, you should stop adding new unnecessary debt by adopting a frugal lifestyle. You should also note that doubling your minimum payment requirement would halve the time it will take to pay off your debt.

Final words…

There are no rules of the thumb for getting out of debt because debt burdens vary in terms of monetary value, repayment terms, and interest rates among other factors. Nonetheless, if you master your emotions, you won’t be adding to your debt burden unnecessarily. Being honest with yourself to confront your debt problem will stop you from living in denial. Lastly, paying more than the minimum monthly payments will help you pay down debt faster and pay less money in interests. You won’t get rid of your debt problem overnight but taking consistent smart personal finance decisions could help you get out of debt much faster than others with the same amount of debt.

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Sell Or Scrap A Junk Car

Ah, the old junk car, otherwise known as that eyesore in the drive way. You may have thought of selling it in the past, but you just haven’t gotten around to it yet. You may have even thought of scrapping the car out yourself for a higher profit. So, which is the best way to go? Should you sell or scrap? Today, we’ll go over the process associated with both options and the pros and cons of both in an attempt to help you make the best decision.

The Process Of Selling A Junk Car

Selling a junk car is a relatively simple process. At the end of the day, it’s not even as difficult as slapping a for sale sign on the car and waiting for a call. All you need to do is make a couple of calls, or clicks for that matter.

The truth is that there are entire businesses that revolve around this type of thing. These businesses make it their mission to find as many junk cars as possible and buy them outright, even though they don’t run. The goal for them is to sell the parts and scrap metal that comes with the car, hopefully making a profit in the process. At the end of the day, it takes 3 steps to sell a junk car…

Step #1: Find Someone To Sell It To – In order to sell your junk car, you’re going to need to find a buyer. This is simple as there are junk yards everywhere itching for a lead on a car to buy. One of the best national options is Peddle. You can go to their website for a free quote here, or call them directly at (855) 672-8243.

Step #2: Schedule The Appointment Once the buyer has given you a reasonable quote for your junk car, it’s time to schedule a time for a pickup. Keep in mind that not everyone will arrive on time. So, make sure to give yourself an hour or so of waiting time in the schedule.

Step #3: Sign Over The Title – When the buyer arrives at your home or designated pickup location, all you’ll need to do is sign the title over. From there, you will be handed cash on the spot or a check and the junk car that has long been an eyesore is history.

The Process Of Scrapping A Car

While scrapping a junk car will lead to more money in your pocket, the old saying proves to be true, “anything worth having is worth working for.” When it comes to scrapping a car, trust me my friends, you will be working. Here’s what’s involved in scrapping your car…

Step #1: Remove Anything Of Value From The Interior – The first thing you’ll need to do is remove anything of value from the interior of the car. This includes seats, mats, speakers, radio, steering wheel, and more. If you can put a price tag on it, and it’s inside your car, take it out.

Step #2: Remove Exterior Parts Of Value – Now, start ripping the outside of the junk car apart… do it safely of course! The exterior parts of value include, but are not limited to, undamaged body panels, hood, and trunk door. You’ll also want to remove undamaged doors, headlights, tail lights, glass, bumpers, and anything else of value.

sell your car that doesn't run

Step #3: Disassemble The Engine – Now it’s time to take the engine apart. When doing so, make sure that you are careful about the parts of the engine that still do work properly. You don’t want to damage these parts as they will likely be the vast majority of the profit that you make from scrapping your junk car yourself.

Step #4: Clean Everything! – Now that you’ve taken everything of value out of the junk car, it’s time to clean everything you have. Keep in mind that you are selling these parts. No one wants to buy dirt. A cleaner product will generally sell faster.

Step #5: Take Pictures – Next, it’s time to take pictures of all of the gold you’ve pulled out of your junk car. Try to put the parts on a nice background. I’ve spent my entire working life in the world of online marketing and sales, and if there’s one thing I’ve learned, it’s that the way you display the product is key. If you just set the product on a concrete slab, it’s not going to sell as fast as if you set the product on a well staged background.

Step #6:List Your Parts For Sale – Now that you’ve got pictures of everything you’ve taken out of your car, it’s time to list the parts you’ve cleaned and photographed for sale. This is done by signing up for various websites. First, you’ll need a way to process the payments for your sales. One of the best ways is using PayPal. You can sign up for their service here. Once you’ve got that set up, it’s time to go to online sales sites. Try to hit all of the big names, especially eBay and Craigslist. Once you’ve signed up for these websites, start posting your parts for sale. Consider reasonable prices, or even put them up for auction. However, when pricing your parts, it’s important to remember that the condition plays a big role. Used parts will not sell for the same price as new parts, so try to be reasonable.

Step #6: Ship The Parts – While it may take some time to sell the parts, orders will start to come in eventually. When they do, it’s time to ship the parts to the buyer. When shipping the products, if they are of high value, it’s a good idea to purchase insurance in case anything should happen. Also, make sure to take enough care that when the boxes are thrown in the back of a shipping truck, they are not broken. This means packaging tight and using plenty of cushion!

Step #7: Cash Out – Once your shipments are out and your clients are happy with the parts you’ve stripped from your junk car, it’s time to cash out. Withdrawal your funds from PayPal and enjoy the fruits of your labor.

Pros Of Selling And Scrapping Your Junk Car

Selling Your Junk Car Pros

Scrapping Your Junk Car Pros

Selling a junk car is an incredibly fast process. Scrapping will lead to a larger profit.
Selling leads to a quick payday. Get the satisfaction of knowing that you did it yourself and made the most money from your car.
You help the environment. When selling your junk car, a lot of the scrap metal, rubber and other materials are recycled.

Cons Of Selling And Scrapping

Selling Your Junk Car Cons

Scrapping Your Junk Car Cons

It’s unlikely that you will get as much money as you want, the buyer needs to make a profit too. There’s a ton of work involved in the process.
One upset buyer could make it nearly impossible to sell the rest of your parts with something as simple as an online review.
You will need space to store the parts of the junk car.

Final Thoughts

sell your car

At the end of the day, a junk car isn’t really junk. In fact, it’s cold, hard cash! How much cash all depends on how much you want to work at it. If you’re pressed for time or simply lack the expertise involved in scrapping a car, you can sell your junk car fast for a quick profit. On the other hand, if you’ve got the time, desire, and willingness to take the car apart and sell what you harvest, you could be in for a much larger payday.

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Valeant Pharmaceuticals Intl Inc VRX Stock News

Early retirement can be thought provoking for many people but only a few get to live the dream. The reason behind the low numbers of people who manage to successfully transition from employment before reaching their retirement age is due to the financial planning required as one plans to retire early. Unlike the normal retirement where you leave your employment at an advanced age, with early retirement you are leaving at a tender age with a lot of financial responsibilities to handle. This therefore calls for a thorough personal financial planning and budgeting before you take the bold step of stepping out of employment at an early age.

In personal financial planning, you start with your projected monthly regular expenses and how you expect them to grow over time as your family expands and your children start going to school. Depending on the age at which you would like to retire, the figures can vary significantly and getting the exact amounts can be a toll order. It is therefore advisable that you work with rough estimates and assumptions based on comparable households living the kind lifestyle you envision for your family as it grows. In addition to using the current household expenditure figures from comparatives; you should also add a premium to take care of inflation and other unforeseeable incidences that might require a budgetary allocation.

Once the expenditures are in place, the tough work of now sourcing for funds to meet those expenses starts. The first point of call for salaried employees is usually their monthly salaries; with promotions being their first strategy of increasing their incomes over time. However, when you are planning to retire early, your salary alone cannot suffice to meet your costs of living in the initial days after retirement and thereafter. You will therefore need to look for other alternative ways to earn extra incomes which you will then pull into your early retirement fund. When choosing alternative sources of income, you have the conventional and unconventional channels to choose from.

Unconventional sources of extra personal income

Top on the list of the preferred unconventional alternative sources of income is online trading. Online trading is preferred due to its ease of learning how to trade and the ability to trade from anywhere for as long as you have an online trading account and internet connectivity. In most cases your focus will be on predicting the direction the price of the underlying asset and if you get it right you get you returns from the margins between the opening and closing price of the underlying asset. In online trading, you have the opportunity of leveraging on the float provided by the broker and earn returns in the north of 80% of your original investment from one trade. However, with these high profit margins also comes high risk of loss if you have not learnt the market trends for your preferred underlying asset well.

To ensure your online security is guaranteed while trading online, you will need to open an account with a credible online broker after conducting a thorough due diligence. In addition, daily market reviews such as those offered by Lionexo on their online channels are also a key consideration when choosing from your array of potential online trading platforms. Once you find a trustworthy broker with reliable trader support systems, you can then start learning how to trade and allocate a part of your monthly income to online trading; in order to grow your money much faster in preparation for an early retirement.

Conventional sources of extra personal income

For the risk averse individuals, online trading may be too much for them despite of the high returns it can earn you over a short period of time. For such individuals, the conventional investment channels provide a good source of regular extra income to contribute to your early retirement fund. The basic and the most common investment by most salaried employees is saving through a fixed deposit account; where they make regular monthly deposits and earn interest income from it. However, the returns here are minimal and for a person planning to retire early; this might not be lucrative enough.

Other conventional channels include investing in government bills and bonds. These will give you higher interest incomes but still not significant enough to help you save enough to fund your initial days after your early retirement. To get higher returns, you can choose to invest through mutual funds and unit trusts and carry over the investment into your retirement. For even higher returns, you can delve into investing in equities through the stock market for listed companies or through venture capital where you buy a stake in startups; and enjoy regular annual dividends after your early retirement. Investing in real estate is also a great channel that will earn you a regular monthly income in form of rent for as long as your property is occupied and maintained in good condition.

Choosing between the different investments options to diversify your income before retirement will be determined by many things. Among the top factors to consider however is how many years you have before you retire and the kind of lifestyle you want to adopt after your early retirement. You will then need to find a source of income that will be able to raise the needed early retirement fund within your specified period of time before you retire; and start investing and trading immediately.

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