By Phineas Upham Most people handle smaller denominations of money, like a $20 or $100 bill. Some of us come across the occasional $50, but these smaller denominations are in much higher supply as far as our regular currency is concerned. Enter William McKinley, who died with journalists noting him to be “the most beloved President in US history” at the time. America had not yet had the opportunity to experience Theodore Roosevelt firsthand. By the 1920s, McKinley was a fading figure and a mere foot note before gaining a surge of popularity in the 1950s. McKinley was beloved for his time. So much so that there are significant memorials that bear his name, and the reminder that he once sat in the most powerful seat in American politics. 20 schools in Ohio bear the McKinley name, and nearly a million dollars was pledged to construct memorials for him after his passing. Perhaps Ohioans felt McKinley’s legacy was secured, but more than a dozen states chose to memorialize him in some form. He is also memorialized on the $500 bill. There are actually two color seals associated with this bill, and separate sizes. As a result, the $500 bill is today something of a collector’s item. McKinley’s face adorns both the green and gold bills, with the smaller of the two having been far more common. The gold is worth more than the green, and some are still in circulation. There are people still trading $500 bills for the face value. Phineas Upham is an investor from NYC and SF. You may contact Phin on his Phineas Upham website or LinkedIn...

Sep 29, 2015

Should you take on the role of being a construction manager for a project, or should you spend the money and hire a general contractor? Here are some key things to think about before taking on a project. What a construction manager does is similar to what a general contractor does. For the homeowner with little to no experience with building, it gives them an opportunity to become a contractor. If they have the sufficient skills that will guide your workers and the confidence to get the job complete even with problems coming your way, then this is the route for you. One of the primary differences of hiring a contractor versus a construction manager is the finances. Obviously there is the benefit of you saving money versus having the contractor work out all the finances and including the middle man – who marks up costs. The end result should have you saving significant amounts. When you hire a construction manager, there is a fee which ends up being a percentage of the total time and material costs. You could also speak to a construction consultant to figure out the total costs involved and have them guide you to what specific role you should play pertaining to your project. When you hire a construction manager you step into a role where you have more control over your project. Your involvement is key as a construction manager is only there to lend a hand. You will be involved in all of the business transactions as well as scheduling so be ready to take on these duties. The downside to having a construction manager on your staff is that they do not maintain responsibility for the job as far as problems. That is your job. If problems arise you may need to discuss the situation with construction & turnaround services to immediately fix the issue and save money. Bio; Lyle Charles, of Lyle Charles Consulting, is a structural steel expert with over 40 years of experience in the field. For technical, operation, or financial answers, speak with them...

Sep 21, 2015

We’re only a few months away from another new year. Of course, starting the next one while being in the green is not advisable but basic common sense. Here are 3 financial suggestions to consider from bonafide financial planners: 1: Increase Your Savings Rate You can still increase your savings rate that can be added into your employment-sponsored retirement account by the end of the year. Those under the age of 50 can contribute up to $18000 – an increase by $500 from last year. As for those above the age of 50, an additional $6000 is allowed. For this, make sure you check your accounts to see how close you are to the maximum and then increase your contributions accordingly. No matter what, put away as much as you can. 2: Convert Your IRA If your income has dropped during the year – probably due to a gap in employment – convert your money in a traditional IRA to a Roth IRA. Doing this will mean that you end up paying taxes only on that income when you’re in a lower tax bracket. One advantage is that Roth conversions have a deadline of Dec. 31 instead of Apr. 15 for regular Roth IRA contributions. It is the best opportunity to pay taxes according the tax bracket that you’re in. 3: Rebalance investments Given the recent market volatility, rebalancing your investments is the ideal thing to do. For this, consider assets that are above your target percentage. Now, sell what you have too much of and buy what you have too little of. This is usually done every quarter by professional money managers but doing it once or twice a year should be enough. Of course, if you’re selling positions at a loss from a taxable account, remember to get a tax write-off for...

Sep 17, 2015

Since 2008, investments in financial technology have nearly tripled over time. The industry has grown substantially, such that nearly half of all of London’s work force is employed by a fintech company at some level. Fintech offers solutions for finance that big banks simply cannot respond to, and these will be some of the hottest trends in the coming years. Machine Learning Machine learning isn’t necessarily a new concept (algorithm trading has existed for many years now), but it has grown substantially as our understanding of AI has evolved. Machine learning now powers much of our fraud protection efforts, and provides consumer finance advise through so-called “robo advisors”. Perhaps one day, machine learning will truly offer real-time financial updates that banks can use to improve their services. Crowd Funding Another major change to the world of finance is the idea of crowd funding, and peer to peer loans. Banks aren’t equipped to take the time to underwrite and serve these kinds of loans. Certain high risk business proposals are better suited to a crowdfunded effort, where investors without large cash reserves can contribute to helping a product get to market. Crowdfunding in the future might see groups of individuals banding together to buy commercial real estate, or to help startups distribute their goods in a brick and mortar store. Crypto Currency Crypto currency is a new idea that seeks legitimacy. The most popular form is called “bitcoin” and it’s an anonymous transaction that is publicly recorded on a ledger. The currency is a new form of exchange bordering on the experimental, and it’s generated a lot of hype behind the idea. One potential application, which has the potential to lower capital costs for banks and businesses, is transmitting money across international borders. As we become a globalized workforce, crypto currency may provide a better solution to pay workers what they’re worth. Bio: Firoz Patel is a leading executive behind AlertPay Inc. Firoz Patel is a globally recognized name in the ecommerce space, and he currently oversees development of the Payza...

Aug 21, 2015

Whether it is not being able to make payments or even the loss of a job, being strapped for cash is hardly the way to go. If you’re in such a position, then you might feel as if there’s no place to turn to. While there are a number of options that are available, it’s best to save for a rainy day instead. Still, here are 3 other emergency options just in case you haven’t given it much thought: 1: Personal Loan You have both secured and unsecured personal loans at your disposal. Banks and other financial institutions offer these two options. Of course, it depends on your credit score. The higher your score, the better the interest rate obtained. Personal calculators are available to find out how much you want to pay every month and totally based on the loan amount. Yet it is important to know the difference between payday and personal loans. 2: Peer Lending There are a number of P2P sites that allow you to borrow from strangers in the form of a personal loan. But keep in mind that the interest rates on the loan you do get is based on your credit score. Of course, you’ll have to show recent pay stubs in order to prove your income. Also, be ready to deal with late fees and credit mark downs if you’re late in paying your installments. 3: Home Equity You can use your home as collateral so as to finance large expenses. Keep in mind that you will risk foreclosure if you cannot pay the loan back. But it’s very easy to qualify for and the interest rates are very low. One thing to keep in mind is that this is a complex financial product. Ensure you know how it works before signing on the dotted...