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Friday, August 13, 2010

Wealth Preservation with... Gold?

Like the songs says "All That Glitters is Gold..."

With the economy still limping along, it seems that more investors are seeking safety in buying the shiny stuff.  If you watch (or listen) the CNBC, Bloomberg, or other financial networks, you know that every other commercial is someone trying to sell you Gold, Silver, Platinum or other precious metals.  There are even Gold-backed IRAs.

I remember when I was a boy during those long summer breaks, I would hear stock reports on the local news at lunch.  They would quote the price of gold, pork bellies, the Dow Jones Average and other things I really didn't understand.  However, I remember thinking that gold is pretty, everybody wants some, and it was only about $100 dollars an ounce. 

That was a lot of money to a pre-teen boy in the 1970s, but I could still put my head around it.  I would accumulate amounts like that doing odd jobs, and thought to myself "I could buy gold!".  I never did, of course, because I didn't know how to and grown-ups wouldn't take me serious anyway.  If only I had figured out a way...

Today, gold trades around $1200 an ounce.  It is fairly easy to buy, either in gold shares, bullion or coin form.  It is also easy to liquidate, unlike my other favorite asset, real estate.  Why not add some to my portfolio? 

I finally decided to act!  I contacted one of the gold merchants I heard on the media, and they sent me a nice PDF brochure explaining the process of gold ownership that I am sharing with you on this link:  www.pda400.com/PDF/GoldGuide.pdf

I don't think they'll mind some free advertising...

Once I buy, I'll share what the experience was like.  I'm also going to see how easy (or difficult) it is to sell the stuff in my local area.

Happy Prospecting!
JM Kelly, The IT Entrepreneur

Monday, August 9, 2010

Buffett on World's Growing Wealth


As always, I continue to follow the advice of highly successful people to emulate.  Warren Buffett is one of the people who I hold in high esteem.  Coming from a middle-class family to rise to one of the richest people on the planet is truly an amazing feet!

If you haven't done so already, I recommend reading (or listening to as I did) The Snowball: Warren Buffett and the Business of Life, which chronicles the life and rise of "The Oracle of Omaha".

Recently, I came across an interview in The Wall Street Journal entitled Buffett on World's Growing Wealth, in which Mr. Buffett details how he plans to convince America's billionaires to publicly commit to giving away at least half of their fortunes.

He is not only rich in wealth, but truly philanthropic as well.

JM Kelly, The IT Entrepreneur

Wednesday, January 27, 2010

Entrepreneurs help Haiti Earthquake Victims

Sure movie stars and singers are helping Haiti; they are always first in line to help when tragedy strikes. But what about Entrepreneurs?

Being an entrepreneur is not just about capitalism, starting businesses, and profits. True entrepreneurs have felt hardship themselves at some point during their lives, and understand the importance of helping those in need during times of crisis.

As the world watches the terrible tragedy of the Haitian Quake unfold, relief agencies, governments, and entrepreneurs alike are taking action to give the Haitian People the humanitarian aid they so desperately need.

The following are entrepreneurs and entrepreneurial companies offering to help the people of Haiti, as well as agencies accepting donations should you wish to contribute.  Please share stories you find of other entrepreneurs giving to the cause.

Ted Turner, founder and chairman of the United Nations Foundation, donated $1 million to the victims of the Haiti earthquake.

Mobile phone company Digicel, which was founded by Irish entrepreneur Denis O’Brien, has announced it is to donate US $5m to support relief efforts in Haiti. (I saw Haitian kids on World News Tonight sporting Digicel T-shirts. Talk about free advertising…)

Go Daddy’s philanthropic CEO and founder Bob Parsons announced that Go Daddy will donate $500,000 to aid quake victims.

Musician and Haitian native Wyclef Jean, who established YƩle Haiti, tweeted, "Help Haiti Earthquake Relief Donate $5 by texting YELE to 501 501 right now please RT." You can follow him on his blog, and on Twitter at @wyclef

OK, so Wyclef is a musician (and has been criticized by some) but he got a mention for his use of technologies like blogging and Twitter to spread the word.

Saskatchewan Businessman Opens Wallet For Haiti: Frank Flaman donates $500,000 to relief effort.

A list of reputable relief agencies:

AMERICAN RED CROSS
Text “HAITI” to “90999″ to make a $10 donation.
2025 E Street
NW Washington, DC 20006
(800) REDCROSS (733-2767)

AMERICARES
88 Hamilton Avenue
Stamford, Conn. 06902
(800) 486-4357

CARE
151 Ellis Street
Atlanta, Ga. 30303
(800) 521-CARE (521-2273)

DOCTORS WITHOUT BORDERS USA/MEDECINS SANS FRONTIERES (MSF)
333 7th Avenue, 2nd Floor
New York, NY 10001-5004
(888) 392-0392

INTERNATIONAL ORTHODOX CHRISTIAN CHARITIES
P.O. Box 630225
Baltimore, Md. 21263-0225
(877) 803-4622

INTERNATIONAL RESCUE COMMITTEE
122 E. 42nd Street
New York, NY 10168
(877) REFUGEE (733-8433)

MERCY CORPS
Dept. W P.O. Box 2669
Portland, Ore., 97208-2669
(888) 256-1900

OXFAM AMERICA
226 Causeway St., 5th Floor
Boston, MA 02114-2206
(800) 77-OXFAM (776-9326)

PARTNERS IN HEALTH
P.O. Box 845578
Boston, MA 02284-5578
(617) 432-5256

THE SALVATION ARMY
615 Slaters Lane
P.O. Box 269
Alexandria, VA 22313

SAVE THE CHILDREN
Haiti Earthquake Children in Emergency Fund
54 Wilton Road Westport, Conn. 06880
(800) 728-3843

WORLD VISION
Haiti Earthquake Relief
P.O. Box 9716 Federal Way
Wash. 98063-9716
(888) 511-6548

U.S. FUND FOR UNICEF
125 Maiden Lane
New York, N.Y. 10038
(800) FOR-KIDS (367-5437)

Saturday, September 26, 2009

iPods, iPhones, iDunno?


For years, I've carried a "smart phone", i.e. the Palm Treo line of phones, ever since they were more PDA-like than phone like. My objectives were to have one contact database that was portable, packaged in a cell phone, and with light browsing capabilities. This line of phone served well to meet the requirements...

Then along comes the sexy iPhone, and all the "cool kids" are carrying them around. I do like them, but I would feel lost without my keyboard on the Treo. The Blackberry has a keyboard and is built for email and communication. However, I can’t get used to the little thumb ball mouse.

I have my eye on the Palm Pre (which seems like a good compromise between what I'm used to and the future of cell phones), when a colleague chuckled and said "Palm doesn't stand a chance against the iPhone and its 1000s of applications".

Ouch! My friend may be right. I’m not sure of the number of apps, but the iPhone and iPod have changed the industry, created their own industries, and thrust Apple from an almost cult-followed company to the company that all others try to emulate. For years the holy grail of tech companies has been the development of one ubiquitous, portable device that does everything. Apple, it seems, may have accomplished this.

Now if only the darn thing had a real keyboard...


JM Kelly, The IT Entrepreneur

Friday, July 31, 2009

Lower Credit Card Interest Rate to Reduce Debt


According to bankrate.com, the average credit card interest rate for a "Balance Transfer Card" is 13.74%. The average interest rate for a "Low Interest Card" is 9.23%. Why in the world would someone carry a card with these interest rates?

Because of bank card voodoo that my own bank pulled on me, I was forced to scour the Internet looking for a better deal. Here's what I found: Simmons First Bank out of Arkansas.

For a balance transfer Visa Platinum card, they offer a fixed rate of 7.25%! This card also comes with NO ANNUAL FEE!
Remember, to pay off credit card and other debt, attack the highest interest rates first with extra payments and pay the minimum on the others. This technique will systematically pay off your debts and free up monthly cash flow sooner.
JM Kelly, The IT Entrepreneur

Friday, May 1, 2009

Laid Off: 15 Steps to Take if you Lose Your Job


In today’s uncertain times, many people are finding themselves part of a nasty statistic, being one of the unemployed masses having to find work. This usually hits people who least expect it, and the task of finding another job can seem overwhelming.

Being an IT freelancer for a dozen years, over time I acquired the skills of being a “professional work finder”, if you will. For me “the end” was not usually due to a corporate downsizing, but rather, was in plain sight 3, 6, or 12 months over the horizon. While the techniques I used were successful in IT contracting, they will work in any industry and for permanent employment.

These are listed in general order or priority:


1. Control Your Emotions
While it is easy to get very attached to a job or role, remember that it does not define you. The position was the company’s job anyway, not yours, and you only worked there. There will be other work with other companies.

2. Settle up with your old Company
It sounds like a no-brainer, but it a hurry to get out the door (especially if you are emotional) you might forget to submit your last expense report, collect your books and reference materials, etc. Also, don’t forget your potted plant. They can afford to buy their own with the money saved by your departure.

3. Update Resume’, and Send it out Fast
Do this ASAP! Target 48 hours to have your resume’ updated and posted on the top five or so online job boards (i.e. Monster.com). If you have prior relationships with recruiters or headhunters, contact them as well.

4. Sign Up for Unemployment Benefits
I never had this opportunity, but if you are eligible, take the time to wait in line and sign up. This is not welfare; it is government sponsored insurance that YOU have paid into. Now it is the government’s turn to pay you…

5. Re-evaluate your Financial Position
By the time you get home, you have no doubt already done this in your head. However, take time to sit down and re-visit (or create) your budget. Separate your needs from your wants, and do without the wants for a while. The largest expenses are the mortgage (or rent), insurance, utilities, and car notes or other notes. Can these be reduced? What else can you eliminate?

6. Check the secondary or niche’ Job Boards and Help Wanted Ads Online
Sometimes leads are not as obvious or not listed with the big websites.

7. Search Targeted Company Websites
Always wanted to work for Google? Check out their employment page.

8. Network, Network, Network
This is arguably the most important step in the list. Networking includes not only recruiters and HR people; it also includes friends, family, former colleagues, casual contacts, and basically anyone who will listen.

Attend networking events and job fairs with resume’s and personal business cards in hand.

Post your need for employment on sites like LinkedIn.com and Facebook.com . I found my current position using LinkedIn, when a recruiter spotted my profile and experience!

9. Cultivate List of Recruiters, HR Consultants, and Agents
As you meet people along the way to your next position, be sure to put them in your contact list for future use.

10. Keep Track of The Process
* Leads
* Companies Contacted
* Resume’s Sent Out

11. Don’t Raid Investments, or run up Credit Cards
Sometimes this is necessary, but do so only as a last resort.

12. Keep Your Insurance
You are the most vulnerable now, as is your family or dependents. You might consider raising deductibles to lower your payments, but keep all of your insurance in full effect.

13. Get Some extra Training
Now is a great time to take a short course on some new skill or technology; plus, it’ll look good on your resume’.

14. Keep Yourself Occupied
Don’t sleep late everyday and watch TV, get out in the world. See #8 above.

15. Success is in the Follow-Up
Any good salesperson will tell you this; most folks are easily discouraged and give up. Follow up interviews with calls and a personal, hand-written thank you. Hiring managers are busy and distracted. The follow up could tilt the scales in your favor.

Good luck in finding your next job (or contract). Remember, creation is an act of shear will. If all else fails, start a new company with a great business model, borrow money in the company’s name, and conquer the world!
JM Kelly, The IT Entrepreneur

Sunday, January 11, 2009

A New Resolution: Help Others Succeed Financially


This time of year, everyone has a resolution: lose weight, exercise more, call mom more often, etc. With the state of the current economy, most folks are resolving just to stay employed and keep their homes. You don’t need me to say just how scary things are now.

However, in contemplating what 2009 holds for me, I realized that I have much to be thankful for. While a lot of people are losing their jobs or homes, I am gainfully employed and in fact, looking for my next investment property (more than likely, a foreclosure). Hopefully, financing will be easier to obtain than what I hear in the news.

My resolution this year is to find more secrets of wealth building and protection and to share what I find. Call it “investment tithing”. The great motivational speaker, salesman and author Zig Ziglar once said
"You can have anything you want in life if you will help enough other people get what they want."

It is this very reason that Internet social networks are all the rage now. Since I have many, many things in life that I still want, I’m going to be very busy in 2009 helping others.

May this year find you successful and prosperous…

JM Kelly, The IT Entrepreneur

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