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Offshore banking refers to a bank outside the residence of the depositor in a typically lower or no tax jurisdiction that gives the depositor both financial and legal advantages.

Offshore banking is commonly associated with money laundering and organized crime, however, corporations and private individuals could legally benefit from it in terms of taxation and privacy.

Offshore banks, especially those banks situated in Switzerland, Luxembourg, and Andorra, at some cases, does not requires you to have a name on your account instead of a number. With that level of privacy, tracing money in that person is virtually impossible.

Offshore banks do not only provide you with that added privacy and security. It also offers its clients with investment instruments less taxed and regulated and therefore provides returns to outperform their American counterparts.

Trade any capital markets with an additional level of privacy anywhere. From stocks, bonds, futures, or any other derivative or instrument you know, give your investments an additional hedge against currency depreciation and inflation by Danish Multi-Currency Accounts. With this additional level of privacy, you could now trade the markets freely without those local regulations.

Denmark for example, is not only one of the best nations to shop for foreign investments, but also it is continually ranked to be one of the “safest places to bank” by Moody’s. Danish taxation is also significantly lower than its neighbouring counterparts.

Offshore banking has its numerous advantages and it’s really a big deal ignoring them. But, you have to take into consideration your local reporting requirements about your offshore banking activities. It is best that you consult a tax attorney first before engaging in one.

Having a large amount in debt can feel like having the sword of Damocles hovering above your head. If you don’t pay off your debt, you know that sooner rather than later, it’s going to strike you.

If you’re in debt, like most people nowadays are, the only way to get out of it is by having a systematic and rational approach to paying it off. And here are some practical ways to do it:

• Pay above the minimum when your installment becomes due. The longer it takes for you to apply payments to the principal the more the interests will pile up, and the less cash remain with you. Exactly the reason why banks are making money and you’re not. You need to tighten your belt each month when you make your payment, and apply as much as you can to the principal. Overtime, this will greatly reduce the amount you pay in interest.

• If you have several debts, transfer higher interest debts to the one with the lowest interest rate. Many credit cards allow this, and it’s really a good move to trade a high interest debt for one with a much lower rate any time. When your card balance reaches zero, move on to the next card and do the same.

• Take advantage of promotional offers by banks. These are usually attractive offers that will save you a lot of dollars in interest. You can then use the money saved to pay the principal.

• Cash in on your savings account to pay your debts. At first this would seem like a stupid idea, but try comparing how much your savings account earns in interest against that of your debt’s, and you’ll see that this isn’t such a bad idea after all.

• If you have life insurance with cash value, try borrowing against the policy. The interest of this borrowed cash will be way below commercial rates. And transferring your debt to one that charges a much lower rate will bring down the amount you’ll have to pay in interest almost instantly.

These are not the only things you can do. There are other countless ways to minimize your exposure to high interest rates to help pay off your debts. You will learn a lot as you proceed.

Just like a great chess player, you should learn to think several steps ahead of your opponent. Think, think, think, and think hard. Try not to let creditors outsmart you, if they haven’t done that already. Good luck.

Johnson & Johnson’s Board of Directors has declared a 10.8% increase in the quarterly dividend rate, from $.415 per share to $.46 per share.

The increase was announced this morning at the Annual Shareholders Meeting in New Brunswick, NJ.

“In recognition of our solid results in 2007, our strong financial position, and our confidence in the future of Johnson & Johnson, the Board has voted to increase the dividend for the 46th consecutive year,” said William C. Weldon, Chairman and Chief Executive Officer of the Company.

At the new rate, the indicated dividend on an annual basis is $1.84 per share compared to the previous rate of $1.66 per share. The next quarterly dividend is payable on June 10, 2008 to shareholders of record as of May 27, 2008.

Credit Suisse Group declared a $2.1 billion net loss for the first quarter as the global effects of the U.S. subprime mortgage crisis continued to spread. This is a first in the history of Switzerland’s second largest bank.

The company also disclosed net writedowns of $5.3 billion for big buyout loans and mortgage securities.

Although other operations of the bank did well, “[o]ur first-quarter results are clearly unsatisfactory,” said Chief Executive Officer Brady Dougan.

Credit Suisse is the first of the major European investment banks to report the quarter, but others have warned investors to brace for more write-downs.

The bank posted a net profit of $2.7 billion in the first quarter of 2007; however, Credit Suisse shares slid 43% in the last 12 months, despite efforts to reduce exposure to risk in the market.

“Other than the areas affected directly by the credit crisis, most of our businesses performed well, with revenues near, or in some cases above, those in the first quarter of 2007,” CEO Dougan said.

He said the bank “remains well positioned in an extremely challenging environment.”

Credit Suisse’s capital position is strong, Dougan said, adding that the bank would continue to manage its liquidity conservatively.

“I am confident that we will continue to serve as a safe haven for clients in uncertain and volatile markets, and to seize the opportunities that arise in times of market dislocation to create long-term value,” Dougan said.

Credit Suisse took the bulk of its writedowns - $2.64 billion - for collateralized debt obligations.

But it also marked down $1.67 billion for buyout loans granted but failed to sell to investors and $937 million for mortgage securities.

Credit Suisse trimmed its exposures to the troubled areas during the quarter. Leveraged loans outstanding fell to $20.6 billion. Subprime CDOs shrank to $695 million from $1.6 billion.

These are hard times, and like the rest of us you are struggling with your finances. “If only I could earn more,” you think, so you devise a plan and thought of a dozen ways to augment your income. That’s good; you should put your plan to action real soon. But before anything else, there’s something you need to do - a vital but often overlooked strategy - you need to change your lifestyle.

Saving your money is almost as important as earning them. What is being targeted here is your lifestyle. Do you live within your means? If so, you’re almost there. Actually, the most important way to generate wealth is to live below your means.

Resist the temptation of trying to compete with your friends or neighbors. Never spend more than what you are earning. If you have mortgages and credit card debts, pay them off as soon as possible. These debts could have been avoided if only you lived within your means. Avoid adding more debts on top of your existing ones.

Invest your money. If you don’t know how to pick stocks or do something like that, then put it in a bank. Ask your local banker for products and services they’re offering to help maximize the growth of your money.

Be conservative in your spending. It is better to buy in cash rather than borrow and be in debt. Remember, if you can’t afford it, don’t buy it.

If as a young adult you find yourself still living with your parents, here are a few simple steps you can take to become independent and have a bright financial future:

• Pay off debts that are keeping you from being independent.
• Invest as heavily as you can for your retirement while your costs of living are low.
• Don’t touch your retirement cash until you’re ready to retire.

If you follow this advice, it will be most certain that you will become self-reliant and will have plenty to retire on at age 60.

However, the sad fact is most Americans nearing retirement (around age 61) are facing a pretty gruesome retirement fate.

That’s why it’s important that you kick your retirement plan into high gear. If you’re young, living at home, and have many years ahead of you, be steadfast with your savings and take advantage of the powers of 401(k)s, IRAs, and compounding interest.

If you’re well into your working years — or even if you’re in your early 60s — the most important thing you can do is develop a game plan. Don’t lament the late start or plan to just work for the rest of your life. Figure out what you have, what you need, and how to get there.

What is inflation? We hear people talk about it, but what does it really mean? Talk about inflation, and how it affects the stock market and prices of goods, are actually based on the Consumer Price Index.

“The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services,” according to the Bureau of Labor Statistics.

The CPI affects nearly all Americans because of the many ways it is used:

• As an economic indicator.
• As a deflator of other economic series.
• As a means of adjusting dollar values.

The CPI is calculated by taking price changes for each item in the predetermined basket of goods and averaging them; the goods are weighted according to their importance. Changes in CPI are used to assess price changes associated with the cost of living.

Why does CPI matter?

• Payouts on inflation-protected investments like TIPS and Series I bonds are indexed directly to the CPI.
• Social security payments, pensions, and inflation-indexed annuities all rely on CPI data to determine their annual adjustments.
• The size of individual income tax brackets, personal exemptions, and the standard deduction are tied to movements in the CPI.
• Low inflation numbers (especially when they are much less than GDP growth) make the economy seem healthy.

The budgetary effect of any overestimate of changes in the cost of living highlights the possibility of a shift in the distribution of wealth. If the CPI has an upward bias, some federal programs would overcompensate for the effect of price changes on living standards, and wealth would be transferred from younger and future generations to current recipients of indexed federal programs-an effect that legislators may not have intended.

The U.S. Bureau of Labor Statistics measures two kinds of CPI statistics: CPI for urban wage earners and clerical workers (CPI-W), and the chained CPI for all urban consumers (C-CPI-U). Of the two types of CPI, the C-CPI-U is a better representation of the general public, because it accounts for about 87% of the population.

CPI is one of the most frequently used statistics for identifying periods of inflation or deflation. This is because large rises in CPI during a short period of time typically denote periods of inflation and large drops in CPI during a short period of time usually mark periods of deflation.

Variations of the CPI are published monthly by the Bureau of Labor Statistics, where they track the prices consumer pay for goods and services. If the government detects an increase in the price consumer pay for these goods, it’s called inflation.

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With every use of your credit card comes the risk of exposing your account number to everyone nearby. This makes you very vulnerable to identity theft and credit card fraud.

Here are some tips to help reduce the risk of becoming a credit card fraud victim:

• Sign new cards in ink immediately;
• destroy old credit cards by cutting them into small pieces;
• never leave your credit cards lying around;
• destroy old credit card receipts. This prevents criminals from finding important information in your trash;
• never fax your credit card number, it can be intercepted during transmission;
• keep a record of your card numbers, their expiration dates, and the phone numbers and addresses of each creditor, in a secure place;
• report any questionable charges to the card issuer promptly and in writing;
• do not give your credit card number out on the phone;
• on the Internet, look for addresses that start with https:\\. The “s” means its a “secure connection” and you should see a small padlock symbol at the bottom of your screen. They indicate that it is safe to transmit your credit card number;
• save receipts to compare with your billing statements;
• carry credit cards separate from your wallet;
• instruct everyone who is authorized to use your account to take the above precautions; and
• call your credit card issuer immediately if you lost your card.

Credit card frauds usually occur withing two hours from the time you lost your card. Call your credit card company immediately. All credit card companies have 24 hour help lines. They will block your card from being used, to spare you from unauthorized charges.

If you follow these tips and take the necessary precautions, then your risk of exposure to credit card fraud will be greatly minimized.

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The best way for one to get caught in debt is by overspending. In this era of fastfood and fast credit, it’s hard not to get entangled in its web. As personal credit card debts soared, so did personal bankruptcies.

So how do you get out of this seemingly bottomless pit of debt?

The first and most important thing you can do is assess the situation. Analyze your spending patterns carefully. Do you actually need or even use the things you buy? If you answered no, then you’re overspending.

Sometimes spending becomes a habit. You overspend simply because you’re used to doing it, and owning credit cards makes it even worse.

Studies show that the media has something to do with how people spend. Everyday people watch TV shows that feature celebrities whom they try to emulate, and whose incomes are well beyond their means.

The best thing for you to do in this situation is learn to face the truth. Accept the fact that you can’t afford to live like these people you see on TV. If you live like that, then you’re living out a fantasy, because it’s never like that in real life.

To manage your debts, you must set priorities as well as create a budget to curb spending. If left unchecked for a considerable period of time, overspending will most certainly lead to financial ruin.

Pay off your credit card debt as soon as possible. You must have the determination and discipline not to add any more debt on top of your existing ones.

To finally free yourself from debt, try to raise the money first before buying something.

If you can’t afford it, don’t buy it.