NSE Advises Youths on Early Investment and Financial Planning

Nigerian Stock Exchange

The Nigerian Stock Exchange (NSE) last Friday urged the youths to start early to secure themselves financially.

Speaking at the fourth quarterly Investors Clinic, targeted at the youths, the Head of Corporate Services Division, NSE, Mr. Bola Adeeko said the exchange is committed to building a financially literate generation and will continue to commit resources to implement a variety of programmes that will enable young people imbue the requisite skills and knowledge that will help them navigate the future through smart investing.

He told the youths that personal financial planning is no longer a concept that applies solely to members of the labour force, adults in our society or the upper social class.

According to him, aside from understanding capital market products as individual investors, the programme is intended to aid the appreciation of basic investment principles, deepen your understanding of personal financial management, promote financial literacy and gradually help in restoring confidence in the Nigerian capital market across the youth demography, through dissemination of information about investment principles which can be used to leverage the capital market to grow and preserve wealth.

Contemporary society requires everyone to understand the principles of money and develop personal financial management skills that will enable them manage their finances effectively and achieve financial freedom.

Financial freedom is much more than having money. It is the freedom to do what you want to do without your current financial position being a constraint. Enjoying the rewards of financial freedom is simply a matter of increasing your financial education, determining where you are now financially and where you want to be. This is the decision we encourage everyone to take, and each participant present today has an opportunity to make that decision early in life, he said.

He noted that the NSE provides a platform for investors to grow and preserve their wealth.

Over the past four years, the NSE has embarked on several transformation projects that has positioned the exchange as a key player in both local and global financial landscapes. As an organisation and regulator of the capital market, we recognise the importance of engaging all our stakeholders to accommodate their needs, and manage their expectations from the market, Adeeko said.

Property Tax Relief Postcards On The Way

Governor Pete Ricketts and Speaker Galen Hadley announced that the Nebraska Department of Revenue is mailing more than 700,000 tax relief notices to Nebraska property owners. The postcards highlight the property tax relief included in the Governor’s budget and approved by the Legislature earlier this year.

During this year’s legislative session, the Governor and the Unicameral worked together to deliver $408 million in property tax relief to Nebraska property owners through the Property Tax Credit Relief Fund over the next two years. The Property Tax Credit Relief Fund, also known as the Real Property Tax Relief Fund, was established in 2007 to provide direct property tax relief from the state to property owners.

“As I travel the state, property tax relief is the number one priority on the minds of Nebraskans,” said Governor Ricketts. “This year, the Legislature and I worked together diligently to prioritize property tax relief. These tax relief notices are a sign of good progress. There is, however, more work to be done, and my administration will continue to prioritize property tax relief in the upcoming session.”

In his State of the State address in January, Governor Ricketts recommended dramatically increasing the amount of tax relief delivered through the Property Tax Credit Relief Fund. The Governor’s recommendation was approved by the Appropriations Committee and the full Legislature, resulting in an over 45 percent increase in the tax relief provided through the Property Tax Credit Relief Fund.

“Thanks to the leadership of the Appropriations Committee and Governor Ricketts, we were able to fund the Property Tax Credit Relief Fund at historic levels,” said Speaker of the Legislature Galen Hadley. “This commitment means Nebraska property owners get to keep more of their hard-earned money, and these notices will help raise awareness about our positive work on behalf of taxpayers.”

Each year, hundreds of thousands of Nebraska property owners receive a tax credit from the Property Tax Credit Relief Fund. The credit is listed on tax bills sent by county treasurers to property owners. The language used to describe the credit varies from county-to-county, and it is not always clear where the credit originated from, what the purpose of the credit is, or how it impacts the tax bill.

“These notices are important to helping taxpayers understand the full impact of the tax relief they are being provided through the Property Tax Credit Relief Fund,” said Department of Revenue Property Tax Administrator Ruth Sorensen. “As Nebraska property owners evaluate their tax bills, these notices will help delineate the purpose and origin of the tax relief that is being applied to their local assessment.”

This week, the Nebraska Department of Revenue plans to mail approximately 769,000 postcard-size notices to property owners with information about the tax relief provided through the Property Tax Credit Relief Fund. The notice includes the amount of tax relief the property owner has received as well as a brief message from the Governor and Speaker. A sample version of the notice is attached.

Property owners who have received a credit at or above the amount of $50 will receive the notice. Centrally assessed property owners will not receive this notice. The department anticipates sending similar notices in the future.

Estate Planning in 2016: Here’s What You Need to Know

Image source: David Morris via Flickr.

Estate planning is a complex area of the law, with countless rules that can change from year to year. If youre planning on doing estate planning for the first time in 2016, or merely want to make sure your current planning documents arent out of date, staying on top of the latest changes is crucial. Below, youll find some of the must-know facts that will affect estate planning in 2016.

1. The lifetime gift and estate tax exclusion amount rises to $5.45 million in 2016.
The tax laws provide for a unified gift and estate tax credit that allows people to make gifts during their lifetimes and to transfer estate property to heirs free of tax, up to a certain amount. The lifetime exclusion amount is adjusted for inflation each year, and for 2016, the amount is $5.45 million, up $20,000 from 2015.

That amount has increased dramatically over the past decade, with the limit having been at $1.5 million as recently as 2005. The result has been that many people have a false sense of security that they dont need to do estate planning at all, but the tax aspects are only a minor part of the broader whole, which involves making sure your assets go to the people you want to have them.

2. The annual exclusion amount for gifts remains at $14,000.
Before you have to tap into your lifetime exclusion amount, youre allowed to give up to a certain amount to as many individuals as you want. That amount adjusts for inflation but is rounded off in thousand-dollar increments, and the increase this year wasnt enough to boost this annual exclusion amount from the $14,000 in 2015.

Note that you can make some gifts on top of this amount. For instance, gifts to a spouse arent subject to annual limits. Gifts you make for medical care or education arent taxable regardless of the amount, with the caveat that you should transfer those funds directly to the institutions involved rather than to the patient or student incurring the expenses.

3. The effective tax rate for the estate and gift tax remains at 40%.
The estate tax bracket structure is complex on its face, but because of the way the lifetime exemption works, the practical result is simple: Any amount thats taxable for estate tax purposes is taxed at a 40% rate. Higher rates of up to 55% applied in the past, so if someone made taxable gifts earlier in life and passes away, those administering the estate should look closely to make sure they didnt effectively overpay their final tax liability.

4. Portability of the lifetime exclusion amount is still available.
Beginning in 2011, the estate tax laws made it permissible for a surviving spouse to take advantage of any unused lifetime exclusion amount from the estate of the deceased spouse. This dramatically simplified estate planning and gave married couples an easy way to take maximum advantage of both spouses exclusion amounts. For 2016, portability allows couples to transfer $10.9 million of taxable property to heirs without estate tax. Its important to understand that estates need to make an election to pass any unused exclusion amount to the surviving spouse.

5. Dont forget about your states gift and estate tax laws.
All of the rules above cover federal estate taxes, but many states impose gift and estate taxes of their own. Among them, youll often find lifetime exclusion limits that are far lower than the current federal level. In recent years, states such as Indiana, Kansas, Ohio, Oklahoma, North Carolina, and Tennessee have repealed estate taxes, while others like New York and Maryland have moved to increase the exclusion amounts. Yet with several states still imposing these taxes, using some of the estate planning techniques that are no longer necessary to avoid federal estate taxes might well help you avoid tax liability at the state level.

Estate planning isnt something that most people think about very often, but neglecting it can be a costly mistake for your heirs. By staying on top of the changing rules, you can make sure your estate plan will achieve your intended purpose of helping your loved ones after youre gone.

Baseball’s dying? Not according to StubHub’s 2015 ticket sales

Baseballspopularity is dying and no one watches anymore, so goes acommon saying.

Yeah? Well this year Major League Baseballs annual revenues are near $10 billion–on par withthe National Football League–and it seems every other day this offseason a new record contract is signed.

And theres more proof the National Pastime is not on the decline.

StubHub, the countrysmost popular online ticket-buying site for sporting events (and other things), disclosed toNJ Advance Mediathatfive of its top-10 highest-selling events in 2015 were the five World Series games between the Metsand Kansas City Royals.

Three of the games, in fact, were in the top five. (KC won the series in five games, the final three of which were played at Citi Field in Queens.)

Here are StubHubstop-10 selling events from 2015:

  • 1. Super Bowl
  • 2.World Series Game 3
  • 3.World Series Game 4
  • 4.World Series Game 5
  • 5. Floyd Mayweather-Manny Pacquiao fight
  • 6. College FootballNational Championship
  • 7.World Series Game 2
  • 8. Stanley Cup Finals Game 6
  • 9. New England Patriots at Dallas Cowboys
  • 10.World Series Game 1

The Super Bowl at No. 1 will surprise no one–its the most-watched event on the planet. But the above figures, which arecalculated by total dollars generated per event, helps support the idea that interest in baseball is not waning.

The Mets play in the countrys largest market, which therefore drivesupticket prices, but still, no other sport has more than two events in the top 10.

Yankees have a path to (financial) freedom

StubHub said that theYankees lone playoff game against the Houston Astros in the AL Wild Cardwas not in the companystop 20 this year.

JG Wentworth Receives Consensus Rating of "Hold" from Brokerages (NYSE:JGW)

JG Wentworth (NYSE:JGW) last released its earnings results on Monday, November 9th. The company reported ($1.79) earnings per share (EPS) for the quarter, missing the Zacks consensus estimate of $0.33 by $2.12. The business earned $63.50 million during the quarter, compared to analyst estimates of $56.59 million. On average, equities analysts expect that JG Wentworth will post $0.73 earnings per share for the current year.

In related news, major shareholder Special Situations M. Trishield bought 26,220 shares of the firms stock in a transaction that occurred on Friday, September 4th. The shares were bought at an average cost of $5.20 per share, with a total value of $136,344.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Special Situations M. Trishield bought 14,800 shares of the firms stock in a transaction that occurred on Wednesday, October 21st. The stock was bought at an average cost of $4.93 per share, for a total transaction of $72,964.00. The disclosure for this purchase can be found here.

The JG Wentworth Company, formerly JGWPT Holdings, Inc., is a direct response marketer. The Company provides liquidity to its customers by purchasing structured settlement, annuity and lottery payment streams, as well as interests in the proceeds of legal claims, in the United States. It securitizes, sells or otherwise finances the payment streams that it purchases in transactions that are structured to generate cash proceeds that exceed the purchase price it paid for those payment streams. It operates two brands: JG Wentworth and Peachtree. Its products include structured settlements, annuities, lotteries and pre-settlement funding. It serves the liquidity needs of structured settlement payment holders by providing cash in exchange for a certain number of fixed scheduled future payments. It identifies, underwrites and purchases individual payment streams from customers, aggregates the payment streams and then finances them in the institutional market.

This story was originally published by MidSouth Newz (http://midsouthnewz.com) and is the sole property of MidSouth Newz. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of US and International copyright law. You can view the original version of this story at http://midsouthnewz.com/jg-wentworth-receives-consensus-rating-of-hold-from-brokerages-nysejgw/36735/

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Estate Planning – What is it?

At sometime in our lives, all of us have probably heard the phrase, “get your house in order”. We may have heard that message as children when told to clean our room or as adults in the context of organizing our individual lives. Estate planning is the process of organizing your affairs in such a way as to give what you have, to whom you want, when you want, in the way you want, at the lowest possible cost to you and those you love.

Having your affairs in order brings peace and comfort. In fact, doing your estate planning may even make vacations more enjoyable. If you have done or updated your estate planning, the next time you leave on a long awaited trip you will not spend the first hour or more contemplating the question, “What would happen to everyone and everything that is important to me if I did not return?” Estate planning is arguably the easiest thing to put off in our lives because we have until the very end to get it done! Although easy to procrastinate, completing the estate planning process brings a sense of accomplishment and great peace of mind.

Do you have an estate plan? Even if you have never signed a will or trust, you have an estate plan because the state has a “default estate plan” for those without their own.

In Utah, if you die without an estate plan, the law provides that your property will likely be divided between your surviving spouse and/or children, if any. Generally, if you do not have a surviving spouse, the estate will be distributed to your children. If you have no surviving children or grandchildren (commonly called your “issue”), then your estate will be distributed to other relatives.

Although the “default estate plan” attempts to represent what most people would want to do with their estate if they had done their own estate planning, it may not be what you want. For example, if you rely on the state’s “default estate plan,” your desires may not be met when you have children from a prior marriage. Often, it may be desirable to allow the surviving spouse to have a lifetime interest in all or a part of your estate until his or her death and at that time the estate could be distributed to your children.

Hopefully, you can see that although we may all have an estate plan, it is very beneficial and sometimes crucial that you take the time and effort to develop your own estate plan and not rely on the “default estate plan” established by the state.

123 Lump Sum Discusses how they Help Individuals Access Cash on Modern Living …

Los Angeles, November 24, 2015 — The Chief Executive Officer of 123 Lump Sum, Michael Asseff, introduces his company by noting, Many people who receive settlements for personal injuriesor other reasons are promised income over a 40-year period. Unfortunately, during and after the recent financial crisis, many people lost jobs or faced significant financial hardships. These individuals need their money now, not over a number of decades.

Andrew Savysky, President of the company, adds, What we do at 123 Lump Sum is help those individuals access that future stream of income and convert it into cash now. We also eliminate the middleman, and that allows us to offer the clients a fair price for the purchase of their settlement. Additionally, we pride ourselves in providing that cash very quickly.

With headquarters in southern Florida, 123lumpsum.com provides services as a specialty finance company that helps individuals who have structured settlements. The firm takes an institutional approach to financing, underwriting and providing legal expertise for the purchase of future cash flows from structured settlements and insurance annuities.

Over the past 13 years the company has assisted thousands of individuals with the process of accessing their cash instead of waiting for it over a period of years. This success has allowed the company to recently close its first fixed-rate asset-backed securitization, which totaled more than $43 million.

Savysky concludes his comments with, The team at 123 Lump Sum truly cares about our clients. They are proud that we have access to financial resources at great market rates. This means we can provide the greatest amount of cash to at each client at the least possible cost. Whether our clients need financial help or want to start a business, we can make that happen promptly.

JL Haber, Vice President of Programming of Worldwide Business, adds the perspective, We know our viewers will find this innovative approach of 123 Lump Sum a powerful financial tool for anyone with a structured settlement. Whether for them or a loved one, this solution might be life-changing.

Tune in to see 123 Lump Sum on E! Entertainment Network as sponsored programming on November 25, 2015 at 6:30am ET/PT and on Bloomberg International as sponsored programming on November 29, 2015 at 8:30am CET, 2:30pm HKT and 10:00am CDT.

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Angie’s List: Estate planning pointers

Research shows not even half of Baby Boomers have a will. Procrastination, lack of incentive and expense are the top excuses, but not planning can really cost your loved ones.

Susan Elser plans finances for people while they live. She tries to do the same for when they die. If you die without a will, your assets go to your spouse if you have established joint ownership. Any asset not jointly owned – like a car or a piece of jewelry – could cause lengthy and stressful legal battles.

“The keys things are to decide who you would want to have the assets that you have, especially if you’re in a second marriage and you’re trying to provide for both your spouse as well as children from a previous marriage, said Susan Elser, Financial planner.

She says many people don’t even think about a will until they become parents.

“While no one looks forward to planning their estate or funeral, it’s something we should all do because it can be considered a gift to your family because you’re reducing stress that would be on them at that time, said Angie Hicks.

An estate planning attorney can offer advice and file the necessary paperwork to make sure your resources go where you want them. Elser strongly recommends that parents establish a trust that allocates inheritance at certain ages so kids don’t get too much too soon.

“Trusts are great for people that have young children, people that have a lot of wealth and they’re worried about ruining their children’s work ethic; people that have a disabled child, said Elser.

She says this is also the time to create a health care directive should a medical crisis leaves you unable to communicate.

“Would you want to be artificially sustained through nutrition and a respirator? It’s very important to make that decision yourself so you’re not leaving that burden to a family member to make, said Elser.

“You don’t need to be wealthy to need a will. Everyone should consider one because it will help just make distribution of your things – even the sentimental items – easier and alleviate stress and fighting in your family, said Hicks.

Angie says to expect to pay at least $1,500 for even the most basic estate planning services, but to make sure you understand all the fees up front. She says to double-check your life insurance and retirement account beneficiaries because those will supersede whatever is written in your will.

Won’t make tall promises: CM

Furfura Sharif: Chief minister Mamata Banerjee on Friday said if there was any gap between promise made by her government and its performance, it was due to the financial debts she inherited from the previous government.

Speaking at Furfura Sharif, the countrys third biggest Muslim pilgrimage center, Mamata said that by voting her to power in 2011, people had ensured political freedom, but not financial freedom. The CM said she wouldnt make any tall promises but will continue to work if she was reelected.

She also indicated that the dates for the 2016 assembly elections could be declared in the next two to three months.

Mamata shared the dais with an eclectic mix of Muslim religious leaders and clerics, some of whom had sporadically trained the guns on her four-and-a-half-year-old government for doing little for minorities.

Toha Siddiqui, the Furfura Sharif peerzada, set the tone of the meeting. We are not lackeys of either Trinamool Congress or CPM. We can decide the outcome of 48 assembly seats in Bengal. We will hold another meeting (in Kolkata) where we will firm up our road-map, he said.

Mamata said, I dont claim that I have done everything I said. I dont mislead.What you must know is that we have inherited a govern ment reeling under financial bondage.