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How to Protect and Grow Personal and Business Wealth in a Tough Economy
July, 2009 - Issue #57
Don't Miss Opportunities
To some, the economic environment may suggest a "wait and see" approach. However, this implies a missed opportunity. With continued market volatility, how does one make up the loss in the portfolio? One approach is this: While continually monitoring the portfolio for risk, time horizon, overall objective and liquidity, consider using term life insurance to replenish the temporary loss in the portfolio. This indemnifies the portfolio loss while waiting for the market and portfolio to recover. Also, within the low interest rate environment we find ourselves in, where income is needed, consider using a strategy for guaranteed lifetime income. These strategies are well tested for the current environment and give peace of mind in rebuilding and protecting your hard-earned assets. I have provided financial advisory services to Santa Clarita for more than 15 years and offer portfolio reviews and seminars on building and protecting wealth. Being proactive can make all the difference.
~ Scott Alexander of Alexander Financial Strategies, LLC 295-8338


Keep in Touch with Clients
Mark Twain said it best, "At times like these, I am more concerned about the return of my money, than the return on my money." We all know that the key to good business is good relationships, and that staying in touch with your core clients is vital not only to the growth of your business but quite possibly to its survival. Dedicating a few minutes each day to simply touching base with your customers is a great way to stay abreast of what is happening in their industry and their business. Often, a quick conversation can lead to insights that can affect you in the long run: upswings and cutbacks alike. A friendly phone call today may save you from having to make a less-than-friendly phone call a few months from now when a slow-pay client becomes a no-pay client.
~ Tamara Gurney, president and CEO of Mission Valley Bank Valencia 775-4100 or Centre Pointe 253-9500

Saving Money During a Custody Battle
It's very difficult for bench officers to make custody/visitation orders based on what is often referred to as the "he said/she said" paperwork filed by the parties. A way around a costly custody evaluation is with the appointment of a Minor's Counsel. Family Code section 3150 states in pertinent part that if the court determines that it would be in the best interest of the minor child, the court may appoint private counsel to represent the interests of the child in a custody or visitation proceeding. Their role is to gather facts that bear on the best interest of the child, and present those facts to the court.
~ David E. Rickett, Esq.of The Reape-Rickett Law Firm, A Professional Corporation 288-1000

Ask for HelpIf you're a small business owner, here's a scenario that may sound all too familiar: You're a viable operation that needs help through bank financing to weather the current economic storm. Your bank gives you (a) the cold shoulder, (b) takes too long to make a decision, (c) bumps fees and rates, (d) establishes onerous credit controls, or (e) all of the above. It could also be that your bank is experiencing difficulty right now and doesn't have money available to lend. If any of these situations apply, it's time to shop around. SCVBank has grown in deposits since the start of the year and is now considered a super-capitalized bank. If your business demonstrates long-term sustainability despite the economic environment, SCVBank has money to lend. For those businesses that don't qualify for a conventional bank loan but are deemed viable with the help of financing, SBA loans are available. Recent changes in the SBA loan program make them more business-friendly than ever before. There are currently no loan fees, and guarantee levels have risen up to 90 percent.
~ Michael Hause, president and CEO of SCVBank 255-9250
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