Alamy Self-employed people by definition must rely on themselves for their paychecks and their insurance. And then there's retirement funding. Without the benefit of a company 401(k) (and the potential employer match), saving for the future falls entirely on their own shoulders. That's a lot to take on. Perhaps too much, if you look at the results of a recent TD Ameritrade (AMTD) study. The company's Self-Employment and Retirement Survey found that even though the majority of self-employed people think that they'll live on their savings when they eventually stop working, 70 percent of them are not actually saving for retirement on a regular basis: 28 percent of self-employed people report that they aren't saving for retirement 40 percent aren't saving regularly. 83 percent have put their retirement savings on hold or cut back at one time or another, compared to only 70 percent of people who are traditionally employed. While you might think that self-employed people assume they can live off their business profits, only 19 percent plan to fund their retirement through profits from the company which will continue to run after their retirement -- and only 14 percent think they'll be able to sell their business and live off the profits from the sale. "One of the biggest challenges that self-employed people face is irregular income, so opening a retirement account is sometimes not top of mind," says Lule Demmissie, managing director of retirement at TD Ameritrade in Jersey City, N.J. "But, once you have an understanding of what type of account is best for you, just go ahead and open it. You don't have to fund it right away, but having it open will make it easier to contribute money when you do come into a windfall. Having the foundation in place is a critical first step." However, the picture is not entirely bleak for self-employed people. When it comes to retirement readiness, the size of one's retirement account doesn't show the full picture, says Guy Penn, principal and founder of G.M. Penn Wealth Management in St. Louis. A critical element not accounted for in the TD Ameritrade study is the self-employed person's unique capacity for income production, Penn says. "Many times, self-employed individuals forgo maxing out retirement savings to retain earnings in the business, and build an income-generating asset in the business itself." And then there's the question of a person's need or desire to retire. "It's also very common that the self-employed love what they are doing and don't feel the desire to exit at 65," Penn says. Retirement Tips for Self-Employed People If you're self-employed and aren't preparing for retirement, financial advisors have several recommendations to help you get started. "When I help self-employed folks, there are three questions that are important to help set up the correct plan for them," says Jeffrey Cutter, a CPA and PFS and owner of Cutter Financial Group, LLC in Falmouth, Mass. "First, how much do they make? Next, how much can they put away? Finally, do they have employees?" Here's an overview of different retirement savings options for self-employed people. SEP-IRA (Simplified Employee Pension). SEP-IRAs have a much higher contribution limit than traditional or Roth IRAs. The limits are based on a percentage of net profit for the self-employed. This plan works well for small, closely held partnerships, as each participant must be offered the same benefits under the plan. "For higher-net-income folks who want to put more away, a SEP-IRA may be the best solution," says Cutter. He points out that a SEP-IRA is easy to maintain, offers many investment choices, and can be flexible in how it's funded. For 2014, an employer can contribute 25 percent of compensation up to a maximum of $52,000 per year. Individual/Solo 401(k) for small businesses and self-employed. "An Individual 401(k) is most suitable for self-employed individuals or a business owner with no additional employees other than a spouse or a child," says Demmissie. "It allows business owners to make both employer and employee contributions, providing the ability to maximize their personal retirement contributions and their business deductions. You might consider this type of plan if your business has irregular profit patterns." Solo 401(k)s are among the best option for the sole owner/employee setup, or a business without full-time employees, Penn says. The contribution limits are significantly higher than other employer-sponsored retirement plans, up to $52,000 in some cases, depending on the net profit of the business. SIMPLE IRA. A SIMPLE IRA (Savings Incentive Match Plan for Employees) offers employees a salary-deferral contribution feature along with a matching employer contribution. You might consider a SIMPLE IRA if your business has steady income and your employees want to make contributions to a retirement plan. "The SIMPLE IRA is a good plan for those who wish offer an incentive for employees, but want to avoid the higher administrative paperwork that goes along with traditional 401(k)s," says Penn. Profit-sharing retirement plan. For a business owner who has variable profits but wants to reward long-term employees by giving them a percentage of the company's profits, a profit-sharing retirement plan may be a good choice, Demmissie says. The plan is very flexible. "The employer decides how much he or she wants to contribute each year and can even skip years if necessary." Take your future into your own hands. "Self-employed people are often the CEO, COO, CFO, and Director of HR, with so many decisions facing them on a daily basis," says Cutter. "Life is all about decisions; the ones we make and the ones we fail to make. If you haven't set up a retirement plan yet, decide today to get it done. The only person you're hurting is yourself." For more information on retirement plans for the self-employed, see IRS Publication 560, Retirement Plans for Small Business.
Top Income Stocks To Invest In Right Now: Gastar Exploration Ltd (GST)
Gastar Exploration Ltd (Gastar) is an independent energy company engaged in the exploration, development and production of natural gas and oil in the United States. The Company�� principal business activities include the identification, acquisition, and subsequent exploration and development of natural gas and oil properties with an emphasis on unconventional reserves, such as shale resource plays. As of December 31, 2011, it is pursuing the development of liquids-rich natural gas in the Marcellus Shale in the Appalachia area of West Virginia and, to a lesser extent, central and southwestern Pennsylvania. The Company also holds prospective acreage in the deep Bossier play in the Hilltop area of East Texas and conduct limited coal bed methane (CBM) development activities within the Powder River Basin of Wyoming and Montana. The Company is a holding company. Advisors' Opinion:- [By Robert Rapier]
Gastar Exploration (NYSE: GST) is another Aggressive Portfolio pick made on Dec. 11, and so far it has rallied quite aggressively, producing a three-week capital gain of 26 percent. It helped here too to catch the very bottom of the recent correction, but Gastar has continued to report strong test well results from the Hunton Limestone play it’s pioneering in Oklahoma.
- [By Josh Young]
The parallel to Goodrich in the transaction is Gastar Exploration (GST), which has approximately 100,000 net acres in the Hunton (excluding additional exposure from the WEHLU deal). Gastar, similar to Goodrich prior to the Sanchez TMS deal, seems to trade at a discount to a $2,000 per acre implied value for its unconventional oil acreage. In fact, Gastar's CEO recently said he thought the current liquidation value of Gastar's Marcellus assets would be $4-7 per share, net of debt, versus the current $4.25 share price.
- [By Heather Ingrassia]
Gastar Agreement: On April 1st it was announced that Gastar Exploration, Ltd. (GST) had entered into a definitive agreement to acquire proven reserves and undeveloped leasehold interests in Kingfisher and Canadian counties of Oklahoma from Chesapeake Energy Corporation, repurchase Chesapeake's common shares of the Company and settle all litigation for $1 million. Although smaller in scope than most of Chesapeake's previous asset-shedding transactions, the agreement with Gastar accomplishes two things. First, is the fact the settlement resolves the legal wrangling both companies were engaged in and as a result Chesapeake walks away with $85 million of the potential $130 million they were suing for. Second, is the fact Chesapeake wipes it hands of acreage, that although producing, may not be producing as much as Chesapeake had once hoped, and therefore was worth much more to Gastar in the long run.
- [By David Smith]
Earlier, the company had pocketed $75.2 million by selling to Gastar Exploration (NYSEMKT: GST ) leasehold acreage in Oklahoma's Kingfisher and Canadian counties. It'll obviously require a passel of sales of that magnitude to shore up an overweight balance sheet.
Top Income Stocks To Invest In Right Now: Glamis Gold Ltd(GLG.TO)
GLG Life Tech Corporation engages in the research and development, growing, refining, production, and distribution of stevia extract to the food and beverage industry worldwide. Stevia extract is a natural sweetener extracted from the stevia plant. The company has a strategic alliance with Cargill, Incorporated to supply stevia extract to Cargill for manufacturing a natural and zero-calorie sweetener brand called TRUVIA. GLG Life Tech Corporation was founded as a public company in 2005 and is headquartered in Vancouver, Canada.
Best Stocks To Own Right Now: Thoratec Corporation(THOR)
Thoratec Corporation engages in the development, manufacture, and marketing of proprietary medical devices used for circulatory support. The company?s primary product lines include ventricular assist devices, such as HeartMate II, an implantable left ventricular assist device consisting of a rotary blood pump to provide intermediate and long-term mechanical circulatory support (MCS); and HeartMate XVE, an implantable and pulsatile left ventricular assist device for intermediate and longer-term MCS. Its ventricular assist devices also comprise Paracorporeal Ventricular Assist Device, an external pulsatile ventricular assist device, which provides left, right, and biventricular MCS approved for bridge-to-transplantation (BTT), including home discharge, and post-cardiotomy myocardial recovery; and Implantable Ventricular Assist Device, an implantable and pulsatile ventricular assist device designed to provide left, right, and biventricular MCS approved for BTT comprising hom e discharge, and post-cardiotomy myocardial recovery. The company also provides CentriMag, an extracorporeal full-flow acute surgical support platform that offers support up to 30 days for cardiac and respiratory failure. In addition, it offers PediMag and PediVAS extracorporeal full-flow acute surgical support platforms designed to provide acute surgical support to pediatric patients. The company sells its products through direct sales force in the United States, as well as through a network of distributors internationally. Thoratec Corporation was founded in 1976 and is headquartered in Pleasanton, California.
Advisors' Opinion:- [By Brian Pacampara]
What: Shares of medical device company Thoratec (NASDAQ: THOR ) sank 12% today after its quarterly results missed Wall Street expectations. �
- [By Todd Campbell]
Competing for heart pump market share
Abiomed's products provide circulatory support for up to six hours and are designed for use in cardiac cath labs or during heart surgery, but competitors Thoratec (NASDAQ: THOR ) and Heartware (NASDAQ: HTWR ) target the intermediate- and long-term-use market instead.
Top Income Stocks To Invest In Right Now: Camden National Corporation(CAC)
Camden National Corporation operates as the holding company for Camden National Bank, which provides commercial and consumer banking products and services to the individuals, businesses, municipalities, non-profits, and commercial customers. The company offers various deposit products, including NOW accounts, transaction accounts, time deposits, savings accounts, money market accounts, certificates of deposit, brokered deposits, and demand deposits. Its loan products comprise residential mortgage loans, commercial business loans, commercial real estate loans, and various consumer loans. The company offers its products and services through a network of 37 banking offices and ATMs in the Maine counties of Androscoggin, Cumberland, Franklin, Knox, Lincoln, Penobscot, Piscataquis, Somerset, Waldo, and York. In addition, it operates nine Union Trust branches in Hancock and Washington counties, Maine. The company, through Acadia Financial Consultants, provides full-service broke rage and insurance services, including college, retirement, estate planning, mutual funds, strategic asset management accounts, and variable and fixed annuities. Camden National Corporation, through its subsidiary, Acadia Trust, N.A., offers various trust, trust-related, investment, and wealth management services, as well as retirement and pension plan management services to individual and institutional clients. The company was founded in 1875 and is headquartered in Camden, Maine.
Advisors' Opinion:- [By Sarah Jones]
National benchmark indexes climbed in 13 of the 18 western European markets this week. The U.K.�� FTSE 100 gained 1.3 percent, France�� CAC 40 (CAC) climbed 1.8 percent and Germany�� DAX Index jumped 1.5 percent.
Top Income Stocks To Invest In Right Now: Silver Grail Resources Ltd. (SVG.V)
Silver Grail Resources Ltd., an exploration stage company, engages in acquiring, exploring, developing, and dealing in mineral properties in Canada. It explores for silver, gold, copper, zinc, and molybdenum deposits. The company engages in exploring its claims primarily in the Stewart-Eskay Creek region of northwestern British Columbia. Silver Grail Resources Ltd. is based in Vancouver, Canada.
Top Income Stocks To Invest In Right Now: Signet Jewelers Limited(SIG)
Signet Jewelers Limited operates as a specialty jewelry retailer in the United States, the United Kingdom, the Republic of Ireland, and the Channel Islands. The company retails jewelry, watches, and associated services. As of January 28, 2012, it operated a network of 1,318 stores in 50 states in the United States that trade nationally in malls and off-mall locations as ?Kay Jewelers?, and regionally under various mall-based brands, as well as operated as destination superstores under the ?Jared The Galleria Of Jewelry? trade name. The company also operated a network of 535 stores in the United Kingdom, including 14 stores in the Republic of Ireland and 3 in the Channel Islands under the ?H.Samuel?, ?Ernest Jones?, and ?Leslie Davis? trade names in high street locations and shopping malls. Signet Jewelers Limited was founded in 1950 and is based in Hamilton, Bermuda.
Advisors' Opinion:- [By Rich Duprey]
Specialty jeweler�Signet Jewelers� (NYSE: SIG ) announced yesterday its third-quarter dividend of $0.15 per share, the same rate it's paid for the past two quarters after raising the payout 25%, from $0.12 per share.
- [By Dan Moskowitz]
Peer comparisons
It's clear that Zale has potential going forward, but while past performance doesn't guarantee future results, it's often a very good indicator of management capabilities. With that in mind, consider the revenue performance for Zale compared to that of�Tiffany (NYSE: TIF ) , as well as Signet Jewelers (NYSE: SIG ) , over the past five years: - [By Reuters]
Julio Cortez/AP NEW YORK -- Many U.S. retailers had to ramp up promotions last month as shoppers continued to watch their spending during the holiday season, hitting profits at several chains. L Brands (LB) cut its earnings forecast for the holiday quarter Thursday after reporting disappointing December sales at its Victoria Secret and La Senza chains. The company said it had to offer more deals than expected, the second month in a row it has had to do so. Family Dollar Stores (FDO) and teen retailer Zumiez (ZUMZ), which both reported sales declines for December, also slashed their profit forecasts. Even retailers that saw big sales gains, such as Kay Jewelers parent Signet Jewelers (SIG), weren't spared. "Additional discounting was necessary in a highly promotional retail environment," Signet Chief Executive Officer Mike Barnes said in a statement. A group of nine U.S. retailers in the Thomson Reuters same-store sales index are expected Thursday to report a sales rise of 1.9 percent in December at stores open at least a year, well below the 7.2 percent increase of a year earlier. Including drugstore chains Walgreen (WAG) and Rite Aid (RAD), analysts estimate the rise at 2.7 percent. Gap (GPS) will report after the markets close Thursday. Faced with reticent shoppers worried about their job prospects and modest economic growth, retailers offered more discounts during the holiday season than a year earlier. Between Nov. 3 and Jan. 4, eight retailers, including Walmart Stores (WMT), Target (T) and Macy's (M) , increased the number of circulars published by 6 percent and sent 57 percent more promotional emails, according to data prepared for Reuters by MarketTrack. Retailers also had to deal with shoppers who were less willing to go into stores: Data firm ShopperTrak this week said foot traffic had dropped 14.6 percent this holiday season. Walgreen, whose comparable sales of general merchandise rose 2.5 percent in December, said fewer shoppers had com
Top Income Stocks To Invest In Right Now: Great Panther Silver Limited(GPL)
Great Panther Silver Limited, together with its subsidiaries, engages in the acquisition, exploration, and development of precious and base metal properties in Mexico. The company primarily produces silver. It also produces gold, lead, and zinc properties. The company principally holds a 100% interest in the Guanajuato silver-gold mine comprising 28 claims totaling 1,107 hectares located on the Central Plateau of Mexico in the state of Guanajuato. The company was formerly known as Great Panther Resources Limited and changed its name to Great Panther Silver Limited in January 2010. Great Panther Silver Limited was founded in 1965 and is headquartered in Vancouver, Canada.
Top Income Stocks To Invest In Right Now: Jacksonville Bancorp Inc.(JAXB)
Jacksonville Bancorp, Inc. operates as the holding company for The Jacksonville Bank that provides various community banking services to businesses and individuals. Its deposit products include demand deposit accounts, NOW accounts, money market accounts, regular savings accounts, statement savings accounts, and term certificates of deposit, as well as retirement savings plans, such as individual retirement accounts. The company?s loan portfolio comprises commercial real estate loans for owner occupied commercial properties, properties used by non-profit organizations, and commercial properties leased to third parties for investment purposes; residential real estate loans comprising loans secured by first or second mortgages and home equity loans on one-to-four family residential properties; construction and land loans; and commercial loans. It also offers consumer loans for the purchase of automobiles, recreational vehicles, and boats, as well as home improvement loans, lines of credit, personal loans, and deposit account collateralized loans. In addition, the company provides personal and business online banking and sweep accounts, as well as insurance and investment products. As of August 8, 2011, it operated eight full-service branches in Jacksonville, Duval County, Florida, as well as a virtual branch. The company was founded in 1997 and is headquartered in Jacksonville, Florida.
Top Income Stocks To Invest In Right Now: Adelaide Resources Ltd(ADN.AX)
Adelaide Resources Limited engages in the exploration and development of mineral properties in Australia. It primarily focuses on gold, copper, and uranium deposits. The company holds interests in 25 exploration licenses covering approximately 8,000 square kilometers in South Australia, the Northern Territory, and Queensland. Its projects include the Rover, Eyre Peninsula, Eyre Peninsula Basement, Yalanda Hill JV, Corrobinnie Palaeochannel JV, Cleve, Anabama, Moonta, and Glenroy. The company is based in Unley, Australia.
Top Income Stocks To Invest In Right Now: Response Genetics Inc.(RGDX)
Response Genetics, Inc., a life sciences company, engages in the research, development, marketing, and sale of clinical diagnostic tests and pharmacogenomic tests for use in the treatment of cancer primarily in the United States, Asia, and Europe. The company develops genetic tests that measure predictive factors for tumor response in tumor tissue samples. It offers tests for non-small cell lung cancer under the ResponseDX: Lung trade name; colorectal cancer under the ResponseDX: Colon trade name; and gastric and gastroesophageal cancer under the ResponseDX: Gastric trade name. The company also develops tests for other types of cancer that identify genetic profiles of tumors that recur after surgery. Response Genetics, Inc. offers its products through its sales force to community based oncologists, hospitals, and physician offices. In addition, it provides pharmacogenomic testing services to pharmaceutical companies. The company was formerly known as Bio Type, Inc. and cha nged its name to Response Genetics, Inc. in August 2000. Response Genetics, Inc. was founded in 1999 and is headquartered in Los Angeles, California.
Top Income Stocks To Invest In Right Now: Box Ships Inc.(TEU)
Box Ships Inc. owns and operates containerships. As of August 16, 2011, it operated a fleet of 7 containerships with a total carrying capacity of 33,237 twenty-foot equivalent units. The company was founded in 2010 and is based in Athens, Greece.
Advisors' Opinion:- [By Eric Volkman]
TearLab (NYSE: TEU ) is looking to widen its capital base by more than $32 million in an underwritten public offering of its common stock. The company is floating 2.6 million shares at a price of $13.50 apiece. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 15% of the total number of shares to cover overallotments.
- [By ABN]
TAL International Group (TAL) is one of the world's largest lessors of intermodal freight containers for the shipping business with 17 offices in 11 countries and approximately 230 third-party container depot facilities in 40 countries. TAL's fleet consists of approximately 1,238,000 containers and 2,031,000 twenty-foot equivalent units (TEU).
Top Income Stocks To Invest In Right Now: Globe Metals and Mining Ltd (GBE.AX)
Globe Metals & Mining Limited is a mineral exploration company. The Company specializes in rare metals, such as niobium, tantalum and rare earths, as well as other commodities, including graphite, fluorite, uranium and zircon. The Company primary focus is the multi-commodity Kanyika Niobium Project in Malawi, which will produce ferro-niobium. The Company also owns 100% of the Machinga Rare Earth Project in southern Malawi. The Company operated in two geographical segments including Australia, Argentina and Africa. The Salambidwe ring complex is located in southern Malawi, within the Chilwa Alkaline Province -the region also hosts Globe�� rare earth project at Machinga. In September 2012, the Company acquired 100% of the Chiziro Graphite Project.
No comments:
Post a Comment