There are instances in life which you can never plan for because you do not foresee them.
One such example would be a medical situation. Medical complications arise when you least expect them to and as you had not planned for them before, they can cause real trouble. And the biggest problem you would have to face would be the medical bills. The cost of treatment has skyrocketed over the last few years and there have been several cases where people have become bankrupt while paying off all the treatment charges.
A recent survey carried out by the CDC reveals that almost one in four families have been pushed to the point of bankruptcy because of the accumulation medical bills. So what should we do to help alleviate this problem? One prospective solution is Crowdfunding.
Families who do not have a high income sources are often victims of payment burdens. These people are not able to pay off all the due medical bills on time and hence have to resort to payments on a monthly basis. Such kinds of debts can be crippling and people often struggle to manage their financial situations afterwards.
Studies have shown that families who earn less than $59,000 are those who are affected the most by payment burdens because their income is not enough to support the medical bills of a loved one in times of need. The alarming situation is that this comprises of the Middle Class in America.
Even if you had planned for such times, for example, had taken out an insurance policy, there would still be a considerable amount that you would have to pay out of your pocket. We take the example of a boy named Isaac. The boy was born with a weak immune system and heart complications and had to undergo several medical procedures in order to prolong his life expectancy. His parents had taken out a policy in his name that helped the family in paying off a significant amount that was owed and yet they still had a debt of $100,000.
The first and foremost thing is that you should be prepared to start a Crowdfunding campaign as soon as possible. Delaying the process would only pile up the medical bills and add to your growing list of concerns. Therefore, you must take the initiative right away.
If you are someone that has had any experience with such situations, then it is your duty to guide others. People who are submerged in such conditions often lose perspective and are not in the right state of mind to make rational decisions. This is where your experience comes into play. Sit down with the concerned parents and help them in setting their expectations. Help them in planning out about how to proceed with the medical treatments and how to keep in check the costs of medicine, therapy and other miscellaneous charges.
Crowdfunding itself might not seem to have much financial advantage.
However, the biggest plus point here is that it will help you in getting your voice heard. A suitable platform will take your story to every doorstep, newspaper, internet blog, etc. They will make sure that your case gets all the attention it deserves.
Hopefully this would inspire people to donate to your cause. There have been many cases reported where people have been able to generate significant amounts of money and have successfully paid off their medical bills by choosing the right crowdfunding platform.
The important thing to realize is that you are not alone in this and other people also have an idea of what you must be going through. Therefore, if your story is heard, people will be sympathetic and try their best to help you out as much as they can.
Investment funds are collective investment institutions that, with the capital invested by individuals or legal entities, buy different financial instruments and delegate the management of the same to a bank or financial institution.
This equity constituted by the unitholders is managed by a Management Company, and the financial instruments are guarded by a Depositary Entity that exercises functions of guarantee and surveillance of the investments.
Investment funds are divided into shares, which vary depending on how the fund’s investments are developed. The net asset value of the units is calculated daily, dividing the assets of the fund by the number of units in circulation.
Commissions from mutual funds.
Let’s make them clear because then the banks say the funds are free.
Management fee: it is required by the manager for its work and although it is expressed as an annual percentage of equity, the net asset value of the investment fund is deducted daily and automatically.
Deposit commission: The deposit commission is the commission charged by the depositary entity for its work. Like the management fee, it is charged as a percentage of the fund’s assets and is discounted daily from the net asset value.
Subscription commission: only charged once when the participant buys shares. Generally a percentage is charged on the amount invested, and can never exceed 5% of the price of the shares.
Repayment commission: just as the subscription fee is only charged once, and as a percentage of the price of the shares (5% maximum) and generally varies depending on how long the investor has held its holdings (the longer, lower Reimbursement fee).
Advantages of mutual funds.
Among the advantages offered by the funds are:
A) A low threshold for the realization of the investment, since the profitability is the same whatever your investment.
B) Increased security of our investment, since in any type of funds the assets are diversified in a large number of assets, in addition to being managed by a professional.
C) Advantageous taxation, because the income obtained has no tax impact until we reimburse part or all of the investment.
D) Legal certainty, since the participation that a shareholder has in a fund is at all times owned by the same, is not part of the balance sheet of the manager, depositary or parent bank and, therefore, whatever happens with any of these Entities, your money is not in danger. E) Liquidity, since we can undo our investment at any time.
F) Variety, due to the enormous amount of funds and modalities.