The Benefits of 529 Educational IRA

Many parents desire to send their kids to college to give them a better chance of having a brighter future. However, this is something that should not only be dreamed about. This needs some action on the part of the parents. As such, it is best to prepare properly for that future by getting the 529 educational IRA account. This is the key to securing the education of school-bound kids.

Parents should know the 529 plans or accounts that will aid them in sending kids to school. Providing education to kids entail more than just the usual tuition fee payments. Some think that the public school system does not give one much worry as regards tuition concerns. However, studying can also entail costs and expenses that should be covered by the parents. Failing to cover such requirements will not facilitate the proper learning of your kids.

Thus, getting the 529 educational IRA account is the key to have proper assistance in sending a kid to school. This is a financial option that can cover all the educational expenses of your child. Just imagine the peace of mind you will attain by having this account at hand ready to be used when the need arises. This is better than resorting to some desperate means when you are out of money to spend. You do not want to lose your house in a mortgage or be handling debts until your retirement age.

Getting a 529 educational IRA account will help you prepare a financial plan that you can use later on when the need arises. You basically get the account and pay a certain amount for a certain period. It is like paying for the educational fees even before your kid goes to school. It sounds like a normal savings account. However, the edge of the 529 education IRA is that it has certain advantages as against an ordinary bank account.

The 529 educational IRA is perfect for parents who really want the money be set aside for the kids. It has terms that will require the account holder to use the funds only for educational purposes. If not, depending further on the rules in the state, there are charges and penalties. You cannot get this restrictions in an ordinary bank account. Thus, some parents may end up spending the savings for college without much deterrent.

Many parents will also love the possibility of earning interests from the account. The interests you gain are generally exempt from federal taxes. The interest will still go to the 529 educational IRA account. Thus, you can be rest assured that your child will enjoy the fruits of the big money you set aside.

You can also use the 529 educational IRA contributions as deductions in your tax report. Of course, this will have to be checked out first with the laws in your state. All it takes is for you to consult a local administrator on how to get the account. Then read the rules and limitations. Depending on the state you are living in, there may be other perks that you can enjoy.

The 529 educational IRA account is your key to giving to your child a good education. Help them achieve their dreams. Secure their educational expenses with this IRA account.

Why Baby Boomers Need a Home Based Business Now!

Where have all the good times gone? The new economic realities are hard on all of us. If down sizing and right sizing and layoffs aren’t affecting you directly, then the “Thelma and Louise” like drive off a cliff of the stock market and real estate industry probably has you grasping at thin air and wondering why you didn’t bring a parachute. The new economy has something for everyone to be anxious about. And for Boomers, these times can be especially challenging.

With fewer jobs in the marketplace, Boomer’s skills and experience may not work in their favor and may instead prove to be too expensive for many employers. Also, Boomers are more likely to have greater overhead and responsibilities. And for most of us, taking a low paying job and crashing on a friend’s couch until we ‘get on our feet’ isn’t an option. So what are Boomers to do? First, let’s look at a couple of key factors that are shaping Boomer’s current and future financial picture and why now is the time for many Boomers to consider a home based business.

Retirement plans are in the basement – If your 401k is now a 201k you know what I’m talking about. What makes it worse is that the people we trusted to manage our funds have been playing fast and loose with the rules… and their common sense.

Top income earning years have evaporated – For Boomers in their 40′s and 50′s this was supposed to be their top income earning years where they could aggressively fund their retirement plans – For most Boomers, that just isn’t a reality. Big paying jobs are hard to come by and many Boomers are dipping into savings just to keep afloat.

Progeny more reliant on Mom and Dad – After years of paying for their kid’s college education, many Boomers are finding that they are either 1) Competing with their 20 something year old kids for jobs or 2) That their 20 something year old kids are moving back into the house because theycan’t find a job.

Aging parents need help - Most Boomer’s parents are well into their senior years and in the very near future are going to become more and more reliant on their Boomer children to help with their care, either at home or in a (costly) managed care environment.

We are forever young - Our generation doesn’t want to slow down or grow old! Boomers are not going to retire to a rocking chair or go gently into that good night. We want to travel, have fun, explore new challenges and spend time with family and friends. This desire to continue an active and engaged lifestyle is going to need financing.

Though these realities may suggest serious challenges ahead, there is a light at the end of the tunnel and it’s not a train. These are exciting times we live in and it has never been easier or more lucrative to take your experience, skill and passion, set off on your own and create extra income on a part time or full time basis with greater control over your schedule, work environment and income. Here are a few areas to consider when thinking about starting your own home based business.

Professional- Many professionals may already be accustomed to working from home or doing consultancy work on the side. Intellectual based professions such as Lawyers, Accountants, Engineers and Designers, are fields which lend themselves more readily to a home based environment without much change in work habits… other than now being able to work from a deck chair by the pool or in pajamas over the kitchen table.

Artisan- There is a growing population of home based tinkerers and artisans who craft everything from jewelry to car accessories in their home studio or garage. And no longer resigned to selling their wares at local art fairs and specialty markets, these creative innovators and artists can now reach a global marketplace with a few taps on a keyboard and clicks of a mouse.

Passion- Now is the time for many Boomers to pursue their passion! How about you? Do you have a love for Italian cooking? Antiques? Stamp collecting? Always wanted to write a book? Pursue your interest in painting? If so, then it may be a simple step for you to create a business plan around your passion where you can do what you love and still create a meaningful income from it.

Network/Internet Marketing- We’ve all been approached by an over zealous in-law with their latest fast money scheme or magic potion. The reality is that network marketing in the 21st Century provides a viable, professional and affordable entry to home based business ownership. These are typically businesses in a box where products, websites, marketing, training and support is already in place for you. Network Marketing has produced more millionaires than any other industry. And it has also produced more failures. The biggest problem as I see it is that many people don’t treat a business that cost them a couple hundred dollars as seriously as they would a business that cost them a couple hundred thousanddollars. Do your research and go with a product that can stand alone and attract and retain customers above and beyond the team building aspect. Also, look for a product you can be passionate about and a company you can believe in. The internet is full of opportunities. Explore your options and be open to taking an educated risk and learning new skills.

The bottom line? No matter which avenue you choose to pursue, in any business endeavor the main variable is YOU. What drive, desire and commitment do you bring to the table? Take an objective and subjective look at your goals and what you hope to achieve. Dig deep and get philosophical. Get quantifiable and look at the numbers. Put it all together and cast your vision. Yes.. a vision for a home based business. Without it, you may lack purpose and passion and not have the focus you need to see the income opportunities before you.

Last thought. To me, being a home based business owner encompasses many of the best beliefs set by our generation so long ago; beliefs of equality and freedom, peace and love that many of us fought for on the streets, on the battlefield, in the court room and in the dorm room. The growing trend in Baby Boomer owned home based business is more than about meeting a financial need, it is an opportunity to invigorate those beliefs and values and to create a legacy that is powerful and lasting.

Important Prerequisites For Starting a Home Based Business

Essential business knowledge, operative risk and absence of guaranteed results are some of the difficulties associated with entrepreneur ventures. Several factors have to be considered before starting a home based business in order to assure long term success.Product viability components and anticipated profit margins must be gauged with a systematic business plan.To Negate the Risk of LossesMultiple risks are confronted with execution and management of a home based business model. Time management difficulties like differentiation with personal and work time can arise. The importance of advertising and sales measures has to be proactively undertaken to enable product promotion. The delivery mechanism of product and services has to be constantly streamlined towards high customer satisfaction. Executive and development associations of small businesses can provide details with feasibility and profit margins. Extent of functional expertise with the product or service has to be considered before starting a business.A Strong Business ModelRegular business interactions with customer at home can interfere with family life and it could be very uncomfortable as well. A management plan to enable co-inhibition of family and business must be prepared. A healthy business model accommodates adequate space for customer service and professional privacy. Country and regional regulations must permit practice of home business models. A good marketing plan can determine the success of a product. Factors like customer identification, trade organizations and competition have to be thoroughly studied.Basics of Outer FinancingAdequate capital is the primary prerequisite for starting a home based business. Many individual start ups fail from lack of thorough financial planning and money management. A certain amount of operating cost for a period of time must be added to required capital for the purpose of sustaining the ongoing expenses. Cash flow analysis can act as a determinant of capital needs. A certain percentage of business investment should ideally be from personal savings. Personal savings can be in the form of market shares, insurance policies and retirement funds.Financial borrowing from friends and family should be documented as a loan agreement. Critical components like interest rate, mode of payment and loan period have to be attended to as in a business deal. The generated profits are in total control of the owner with sole proprietorship. There will be deductions on overhead costs and the taxes.The form of ownership should be decided before doing a home based business. Trade and proprietary business names have to be registered with your local city or stat. Ownership entails to the management, financial and liabilities of a business.

Home Based Business – Bring the Boardroom to the Bedroom

What do you think of when you hear the words “home based business”? If you are like a lot of people, you may envision all manner of scams that require you to invest a lot of money upfront, a huge amount of time and very minimal chance of positive returns on your investment. The truth is, there are a lot of business models out there that will live down to those expectations, but there are actually some companies that are worth looking into if you would like to learn about becoming your own boss. These companies can offer you the unique opportunity to decide how, when and where you will work, putting you in charge of your income, rather than leaving it up to someone else.If you have ever worked for someone else, then chances are that you can understand the appeal of a home based business. Think about it. If you are working for someone else right now, you probably get up too early every day, rush around to get ready for work, hurry yourself and your kids out the door when it is still dark, spend time in jammed packed traffic to and from work, then spend all day working hard to make someone else money. You slave at this for as many as 8-12 hours or more a day, rush home, eat then fall into bed exhausted, only to do it all again tomorrow. In the process, you miss out on precious time with your spouse and your kids. You lose the freedom to go where you want, when you want, and you do it all for someone else. Even worse, at the end of the day your loyalty may be rewarded by you being laid off! Especially in today’s time. People who never follow their dreams are going to work for someone who did.In a home based business, you work where and when and as much as you would like. Every hour you put into your work is for the express purpose of putting money in your bank account, and growing your business! As your own boss, you call the shots. You decide when it is time to work, and when it is time to play. You never have to miss another soccer game or dance recital again. Your home based business gives you the freedom to be the kind of parent, spouse and friend that you have always wanted to be.Don’t resign yourself to a life of working for someone else, for limited returns. Give yourself and your family the chance to succeed for yourselves with a home based business. Again, there is a lot of garbage out there, a lot of companies are here today and gone in less then a year. You have to find a company with a foundation, a good reputation, good products, and good system and a killer compensation plan. Basically don’t play around with any little money games. Find a “Real” company and a “Real” business. Some that I would recommend that I know for a fact are legitimate companies, have great reputations and actually have a ton of people making money in them are iLearning Global, LifePath Unlimited, MonaVie, Carbon Copy Pro, the Trump Network, Global Resorts, Yoli, ShopToEarn to name a few.Companies like LifePath Unlimited and iLearning Global are having Huge success due to them being based around Personal Development which is an absolute Exploding industry. Personal Development has grown something like 151% in the past 24 months…in this “bad” economy…these companies have been sky rocketing and having record breaking sales each new month.Everyone on this planet can use some personal development…no matter what business or industry you are in…

5 Simple Steps To Take For a Successful Home Based Business

Let’s discuss on the simple five steps to be taken to have a successful home based business today. I have used them personally and get great result from my business. It is workable on your own product or be an affiliate.1. Commitment
You have to have the same or more commitment towards your home based business compare to your jobs. You have to seriously take it as another job. Professionally is very important. Your have to set up all the infrastructure needed for a business; for instance, phone line and email, internet connection, fax, bank account and etc.You have to separate it clearly from you personal and not to mix your personal thing with the business. If your house space is sufficient, it is advisable to have a separate room or work station from the rest of your house. You have to set a specific time for your business, for example after work 7pm to 12pm. You must have the free hand on organise and arranging you schedule and work according to your desire of success.2. Time
Time is an important to have a successful home based business. Most of the people will give the excuse of no time when their business fails. You need to start you time management and follow strictly to what you have planned and scheduled. Usually movies is the killer of your time, as most of the people will rather stay and stare at the “idiot box” than start working for their business. You have to work when it is time to work and rest when it is time to break.3. Self-discipline
Self-discipline is a must when you plan to have a successful home based business. You must work hard and maintain it along the way to your goal. Maintain a successful home based business is a hard work and you can not take it lightly. Although many gurus out there tell you that home based business is easy. I agree with that but in order for you to really success in the business you have to put in a lot of efforts and work long hours or longer hour than your current job.Result will really show up if you really work hard, long hours and have a very good self discipline. When you achieve certain success in the business than only you can start to slow down a bit and start to enjoy you life. You may start to have the freedom from the success of your home based business. You must bear in mind that Rome is not build in a day.4. Advertising
In order to make money from you business, you have to start marketing it. One of the marketing tools is advertisement. Advertising can be considered the key of the home based business. Advertising will help to showcase your business to the public and your customer will start to notice you. Sub-sequence, they will start to buy from you if you really provide the service and value they are looking for. You can advertise your business through internet banner ads, printed media like newspaper, magazine, pamphlets and etc, and internet forums. If you have a budget, then you can go for pay per click advertisement. This is one of the most effective way of getting result from your advertising campaign if you really do it right.5. Integrity
You must build your relationship with your customers. Integrity is the key point to get your customer to trust you and continue to stick on you in order for you to have a future business with them. Once they trust on you they will continue to buy your product or service you offer. Beside that, the customer will start to help you to spread the word of your company and the good product or service you are offering.Start a home based business is easy, but to maintain a successful one needs hard work and a lot of efforts. At the end of the day, you will enjoy the fruit of your hard work to have a successful home based business which will be proud of. You will then it is worth for the hard work you have put in.

Property Investing – The Art Of The Deal

How times have changed from the initial days of buy to let. The market has matured, investors have come and gone, and in particular, the way in which people invest has changed dramatically.Only a few years ago, then focus seemed to be on “The art of the deal”. You know, a decent return on investment, or a good yield. Things seem to have changed now to “how much is it, and do I need a deposit”, and there are a flurry of deals available out there.The “No money down deal” is now the holy grail for many property investors, as opposed to the old fashioned way of making sure that the rent covers the mortgage each and every month. I know I sound a bit old fashioned, but at 34, I wouldn’t say so. Just an investor with experience, who has seen enough investors buy below their “perceived” market value, only to either lose the property, or sell it at a loss later on, simply because they thought it was a short cut to success (There isn’t one by the way, despite what many property clubs may infer, at least not in my experience).Originally, The Art of The Deal I refer to was about the rental income, less the mortgage costs and any other fees, and whatever was left should have been profit at the end of each month.The profit was then multiplied by 12 (as in the months of the year), and divided by my initial investment. This is your Return on Investment (ROI). This was the way in which you could compare one property deal, against another deal especially at different rental values.For example, is a property purchased at £150k with a rent of £650, as good as a deal at £95k and a rental value of £425. Do you know the answer ? Well you need to know what the service charge is on each one, then add in the property management charges. Then you can do your comparison. Usually, it’s the lower price properties that give a better return on investment. An added bonus of a lower priced property is also the fact that you don’t need to pay stamp duty.As well as having a better return on investment, having two smaller properties rather than one big property helps with void periods. If one of your two smaller properties are empty, then its only a 50% void. But having the one large property empty means 100% void.In fact, when you’re first starting out in property investing, there’s a line of thought that suggests you should only buy properties under the £120k mark in order to avoid stamp duty, and to spread the risk across multiple properties, which takes advantage of a better Return, less risk in terms of voids, less up front costs (although you will have two mortgage fees, and two sets of solicitors fees).I think buying a property at £220k as your first property is potentially “property investing suicide” and you need to cut your teeth on something a little bit less risky, without all the massive upfront costs that come with such a high priced property (and potential mortgage commitments)But the main reason why I think that the Art of The Deal has changed, is that these days its not about doing the maths on the deal, its about the discount you get from the developer so that you don’t need to put down a deposit.While this seems like a good idea, in practice it can mean a lot of similar properties completing at the same time, all with lower rental valuations, and a potential loss of anywhere upto £250 per month. Incidentally, it is usual for rental valuations to be low on new developments, due to normal supply and demand, but not when you have already paid over the odds for a property just to get a no money down deal.That said, not all no money down, off-plan investments, are the bad deals. Some of them do stack up, but you need to do your research. For example, why buy a city centre brand new off-plan property, with no previous history of rentals, when you can buy a 2 bed back to back (or two of them) and know that the property has been there 100 years, its already got history of being rented in the local area.Of course you could say that you have guarantees for the first few years that the white goods (fridges, dishwashers, etc). But that sometimes isn’t the case (as my tenants in one of my Brand new Manchester properties discovered when they were left without a shower for 6 weeks).But do you do the maths? Do you know whether it’s a good deal or not.And that’s why I think that The Art of The Deal has changed.Let me quote an example. I spoke with an investor recently who had purchased a property off plan from a property sourcing company. The property was valued at £140,000 by the RICS approved valuer. The property however was purchased for £150,000, less a 15% discount, and the landlord didn’t have the funds available to fund the rest of the property, so he was going to lose the £3,000 deposit he had paid to reserve it.The property itself didn’t stack up either, as it’s a one bed and the rental value on this is £550 per month. The problem here is that the property just doesn’t stack up, the rent wont cover the mortgage, and it seems to be all about getting a discount on the purchase price. “But you make money when you buy property” said the landlord.Im afraid that’s too much Rich Dad, Poor Dad, the book that launched a thousand investors, which does quite rightly state that you make money when you buy.But the context is incorrect. What Robert Kiyosaki meant was that you negotiate well in order to secure a discount, not that you purchase an already inflated property at a discount just so that you don’t have to put any deposit in.It is by the way, still possible to buy a discounted property, and still make a decent return, but if you don’t know how to find out whether the property is a good purchase compared to another property, then you’re going to make mistakes and this may cost you dearly.The bottom line on this is, is simply that if you can work out how to value one property against another, then you can do a direct comparison and make sure that you reduce the chances of buying a property that may be too expensive, or not cover its costs.

Personal Finance Short Course- Choosing a Personal Financial Consultant

When it comes to handling personal or family financial matters, many people like to be in charge of their own money, and have trouble with the idea of letting someone else manage their finances. However, there are people who are willing to admit that they need help, and that is where personal financial consultants become handy.

A personal financial consultant is someone who is a professional when it comes to finances, and who is put in charge of handling various aspects of your finances. There are many people out there who will gladly take charge of your finances, so you must make sure that you are going with the right person before you trust anything to anyone.

Are you looking for a personal finance consultant? The absolute first thing that you need to decide is if you really feel comfortable trusting your financial decisions to someone else. This is not really a casual gesture, because you will be giving another person control over your finances, and it would be a very bad thing to give this control to someone you cannot trust. Do you absolutely prefer to have someone else in charge of your finances? Is there a way to handle your finances on your own without outside help?

On the note of trust, the next thing that you must decide is whether or not you feel comfortable trusting your personal finance information to someone else. Personal finance consultants are professionals, but that does not always necessarily mean that you should trust all of your personal information and financial information to them without doing some research and making a concrete decision about how trusting you feel. There is no rush involved when it comes to finding a personal finance consultant, so take your time and weigh all of your options before making any decisions.

Never give all of your control away! This goes for allowing anyone to manage your finances, be it your spouse, or a personal finance consultant. If you put someone else completely in charge of your personal finances, there is a chance you will be unable to keep track of your own money. If something happens to your spouse, will you know how to pick up where he or she left off? The same thing essentially goes when it comes to hiring a professional personal finance consultant. If there comes a day where they are no longer your financial consultant, will you be able to pick up where they left off?

You should always make sure that you have at least some control over everything, and that you are always aware of what is happening with your finances, even if you allow someone else to be in control of them. This way, if you are ever forced back into control, you will be able to pick up where they left off without any confusion.

A Performance Ad Network Can Help You Advertise in Real Time

Actual date advertising and brand safe advertising, two types of marketing strategies that a performance ad network can help you with, can help establish your products and sell them, too. You can learn more about real time advertising and brand safe advertising so you will have the knowledge and you can decide if this will be great for your product.

What is actual date advertising?

Actual date advertising makes the most out of the present time. Advertisements are shown over the internet based on what is happening right now. This type of advertising targets the person who is online at the moment.

Why use actual date advertising?

When an advertiser opts for actual date advertising, it can target the right audience more effectively. The advertisement can be created in a way that can attract the attention of the user who is online and surfing different websites.

What are some examples of these?

Different kinds of products can make use of actual date advertising. Is it Valentine’s Day tomorrow? Expect to see advertisements that offer discounts on delivery of flowers. There might also be good deals on special chocolates for your sweetheart.

If you are viewing your bank’s website, you may also find that they are promoting certain electronic devices that would be great for their business-minded clients. Others can offer recommendations on which products to use.

Real time advertising and search engines

Traditional advertising tends to interrupt the viewers when showing their ad. For example, while you’re watching your favorite tv show, you get interrupted by commercials. This can even be problematic because some of the ads shown do not really target you.

In search engines, people type keywords and they get information and advertisement of what they are looking for in actual time. Search engines such as Google and Yahoo provide information that’s related to what the user is looking for.

Actual date advertising and social media

Social networking sites have been the “in” thing these days. Who doesn’t have a Facebook account? Millions are already Facebook users. Many are online at the same time. It is a good site for real time advertising.

Advertising can target what the Facebook users “Like” or “Share” on the site. There was also an experiment done where Ads were shown based on “status” posted by a user on the site.

Tweets on Twitter can also promote products and services in real time. Media sharing websites may also be places who can use actual time advertising.

Brand safe advertising

Companies want to keep their names clean – their brand names. They need to protect their brand names, names that for many, have taken them years and a lot of effort to build. A brand safe advertising can benefit them.

There are products and services that follow strict rules regarding what their ads should look like, where their ads should appear and other requirements. For instance, a reputable brand name, doesn’t want an ad appearing in a website with improper content is a website that offers its advertising services. You can check it out for yourself. You can also find out if real time advertising and brand safe advertising is the right way to advertise your product by consulting a Performance Ad Network.

The Finer Points of Internet Auctions


Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn’t keep up with their mortgage payments.

The banks weren’t satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.

The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.

The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.


The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.

There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don’t stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.

Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.


Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.

The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.

The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.

The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.


Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn’t be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.

Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.

Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.


New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they’ve always wanted but couldn’t afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they’ve incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.

There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.

It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.

How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.