One of the reasons why people seek help from a financial planner is to find out how to get rid of debt. While you could file bankruptcy or use a debt elimination program, both of these options may cause negative effects on your credit. If you want to protect your credit and start rebuilding it, there are alternative methods you could use that would help you achieve this. Here are some techniques a financial advisor may discuss with you.
- Winning the lottery is possibly one of the most common dreams in the United States of America, and with lottery jackpots that can grow into millions of dollars, it is enough to provoke stars in the eyes of anyone holding a ticket. One thing a lot of ticket buyers don't realize about winning the lottery is this: as a winner, you have two options. You can take a lump sum payment or settle with annuity payments over time.
- If you are a small business owner and you find that your company is not only getting bigger, but there is a greater demand for your products and/or services, then you might want to consider some form of capital so you can expand and continue to grow. A business broker can usually assist you with this, but if you are the type that likes to seek out more info before talking to a banker or broker, then you might want to start with the concepts of private equity versus publicly traded stock.
- If you're looking for ways to maximize your personal retirement funds or increase the amount of money you have available each month for investments, you may be surprised to find some new areas where you can cut spending. Any money you save can be re-directed to your investment portfolio, allowing you to maximize your return. Here's a look at some of the places to look for spending that you can eliminate.