What is the difference between a savings vehicle and an investment vehicle? The answer may be obvious, but we do not focus enough on the difference in our financial planning. Too often we take money that we are unwilling to lose and put it at risk in investment vehicles.
What do the wealthy do? They certainly do not put all their money at risk. They also do not take unnecessary risk. The wealthy put money into safe savings vehicles, and then use those safe vehicles to fund investments when they have calculated opportunities that they know will be profitable.
This way, they continue to keep their money safe. The number one rule of investing is don't lose money.
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"Savings vehicles do not have risk". That is very misleading since there is risk inherent both savings and investment vehicles. To classify bond as being without risk is downright false. In addition to classify whole life cash accumulation vehicles and annuities as being without risk is reckless and false. These funds are subject to the same risks as their underlying assets in addition to the business and financial risk of the underwriting firm. Even with co-insurance there is a trade off. Market risk is traded off for counter party risk and the returns on these funds are reduced by an amount equal to the co-insurance premium.
Obviously there is no such thing as absolute zero risk, or else insurance in general wouldn't exist. Certainly there is a market of junk bonds too. And you're points are valid. However, most folks would acknowledge that the risks of bonds, and underwriting firms is easier to understand than risks of stocks. Many insurance companies are rather old, and hold better credit ratings than many states. Banks have risks too, hence the existence of FDIC. It's a very fair (not reckless and false) statement to say that money with a reliable insurance company is exponentially safer than in the stock market, to the point of the risk being near zero. If you go to google and type "lost everything to s" you can guess what it suggests... If you type "lost everything to life insurance" the articles are about finding policies that were never claimed... Honestly, that's some telling information right there. From a decision making perspective I found the video to be true.
Tax Deposit Information For the date range, provides taxable earnings totals, Federal 941, 940 and State tax deposit information.
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The level of manual tasks, duplication and non-value added activities in the payroll process often prevent staff from providing the reports that management require on a timely basis.
The best practice for providing management information that is timely, useful and relevant is automating, simplifying and standardising as many processes and tasks as possible, to eliminate unnecessary complexity and inconsistencies. This will reduce opportunities for error or fraud and make it easier to track the quantity and quality of information flowing to payroll.
A holistic approach that considers factors across all business dimensions, including strategy, structure, people, process and technology, creates reporting that is highly sustainable and scalable.
If you do not feel confident in your reporting capabilities or would like to improve your reports, technology could be a valuable ally providing master data that is clean, up to date and which can be relied upon.
Employee Advance Summary For the date range lists Advances paid and repaid with beginning and ending balances, one line per employee.
Employee Payroll Summary Lists for the date range Gross Pay, Total Withholdings, Credits, Reimbursements, Advances and Checks Total, one employee per line.
Payroll Journal Summary.
Payroll Journal Summary For the date range selected provides posting debit and credit totals for the Accounting sections Assets, Liabilities, Revenue and Expenses, with totals by General Ledger account number within each section.
Tax Liability Summary.
Form 941 Information For the date range selected, provides total Federal and State taxable wages, EIC credits, and other tax deposit information relevant to the 941 report.