Tags |
|
|
Links |
|
|
Top Articles - Investing Your Money: Check Your Financial Health
Before embarking on investing a lump sum it is advisable to check your financial health, to see how you measure up to the ideal.
Preparing background information
If you consult a financial adviser, you will first be asked for some background information. Here you ar
Preparing background information
If you consult a financial adviser, you will first be asked for some background information. Here you ar
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
e the adviser as well as the client so, although much of this information will be obvious to you, it is still worth writing it down as it will affect what comes later.
Personal profile
A financial adviser will ask:
Personal profile
A financial adviser will ask:
- your age;
- whether you are empl
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
oyed, self employed, unemployed or retired;
Whether you are married, have children still dependent on you (or any other dependants, such as a widowed mother without much pension); and
what is your highest income tax rate (your marginal rate).
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
Budgeting
If you do not have a clear idea of your weekly or monthly income and expenditure, prepare a budget. Include in it any savings you are making for a specific event.
Your financial assets and liabilities
List any savings and investments you have, fol
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
lowed by a list of any liabilities bank overdraft, credit card debt, etc. The difference between the two is the value of your net current assets (if it is a negative amount, you need to plan to reduce your debt).
Your mortgage is a separate issue because it is a long term
Your mortgage is a separate issue because it is a long term
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
liability.
Doing your financial health check
The ten steps which follow are in order of priority.
1. Reducing borrowing
Are you borrowing money, except against your home? If so, consider paying it off as soon as possible as the interest will be expensi
Doing your financial health check
The ten steps which follow are in order of priority.
1. Reducing borrowing
Are you borrowing money, except against your home? If so, consider paying it off as soon as possible as the interest will be expensi
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
ve.
2. Establishing an emergency fund
Have you got a cash reserve to fall back on at least one month's normal expenditure and preferably two or three, in an instant access deposit account or as a borrowing facility? At least half the population has less than ?
2. Establishing an emergency fund
Have you got a cash reserve to fall back on at least one month's normal expenditure and preferably two or three, in an instant access deposit account or as a borrowing facility? At least half the population has less than ?
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
1,000 readily available and 10% have nothing at all.
3. Avoiding financial disaster
Is your income protected by insurance against the death, sickness or permanent disability of the breadwinner? Do you have adequate home and car insurance?
4. Retirement plann
3. Avoiding financial disaster
Is your income protected by insurance against the death, sickness or permanent disability of the breadwinner? Do you have adequate home and car insurance?
4. Retirement plann
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ing
Are you paying towards a pension? It is never too early nor too late to start.
5. Getting tax and social security advantages
Are you getting all the income tax allowances, reliefs and credits, and social security benefits you are entitled to?
6.
Are you paying towards a pension? It is never too early nor too late to start.
5. Getting tax and social security advantages
Are you getting all the income tax allowances, reliefs and credits, and social security benefits you are entitled to?
6.
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
Estate planning
Will your heirs have to pay inheritance tax? If so, consider how to avoid it or pay for it yourself.
7. Saving for special events
Do you need to save up for your next holiday, a new car, a wedding, long term care in old age? Putting a
Will your heirs have to pay inheritance tax? If so, consider how to avoid it or pay for it yourself.
7. Saving for special events
Do you need to save up for your next holiday, a new car, a wedding, long term care in old age? Putting a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
side just a small amount regularly is the best way.
8. Paying for education
If you have young children, are you saving up to pay for private education and/or university?
9. Reducing your mortgage
It is worth considering a reduction before investing
8. Paying for education
If you have young children, are you saving up to pay for private education and/or university?
9. Reducing your mortgage
It is worth considering a reduction before investing
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
surplus income or a lump sum.
10. Investment planning
Have you surplus income which can be channelled into a savings scheme or do you have a lump sum to invest?
Making strategic decisions
The result of your financial health check may cause you to change
10. Investment planning
Have you surplus income which can be channelled into a savings scheme or do you have a lump sum to invest?
Making strategic decisions
The result of your financial health check may cause you to change
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
your budget, for example to pay for more insurance cover.
Or you may wish to change your existing savings and investments to fit in with the ideal - perhaps to put more into your cash reserve.
Make a list of your shortcomings compared with the ideal and decide what action
Or you may wish to change your existing savings and investments to fit in with the ideal - perhaps to put more into your cash reserve.
Make a list of your shortcomings compared with the ideal and decide what action
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
to take.
Saving to invest
If you do not have a lump sum to invest but can afford to save, there are many investment products which accept regular monthly payments.
In other cases, where the minimum investment is low and monthly savings are high enough, they can be
Saving to invest
If you do not have a lump sum to invest but can afford to save, there are many investment products which accept regular monthly payments.
In other cases, where the minimum investment is low and monthly savings are high enough, they can be
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
invested directly. For example, National Savings certificates have a minimum of ?100.
Otherwise, savings can be put into deposit accounts until enough has been accumulated to make a lump sum investment.
The advantage of investing regular savings is that there need be no c
Otherwise, savings can be put into deposit accounts until enough has been accumulated to make a lump sum investment.
The advantage of investing regular savings is that there need be no c
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
ommitment to maintaining payments, e.g. there is no harm done by missing a monthly purchase of a savings certificate.
Analysing your savings needs
If you need or wish to save, consider the following:
Analysing your savings needs
If you need or wish to save, consider the following:
- What are you saving for to increase your cash reserve
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
, for a special event, for your children's education, for retirement and how much do you need? If you have more than one reason, decide the priority.
How much can you save, each week or month, and so how long will it take to achieve your objective?
Do y
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ou need quick access to the money? Bear in mind that, if not, you might get a higher return from a longer notice deposit account, or even in an equity investment, which should grow more in the long run (say at least five years).
Do you pay tax and if so what is you
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
r marginal rate? Compare returns on an after tax basis.
Can you save regularly? It is better if you can, but be wary of committing yourself to a regular savings contract if there is a penalty for missing a payment. Irregular deposits when you can afford them are be
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
tter than nothing.
Is your priority income or capital growth? Some investments are better for one, some for the other, but many achieve both.
How much risk are you prepared to take? Higher risk should lead to higher returns but only in the longer term.
How much risk are you prepared to take? Higher risk should lead to higher returns but only in the longer term.
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.toparticles.org.ua/article/102166/toparticles-Investing-Your-Money-Check-Your-Financial-Health.html">Investing Your Money: Check Your Financial Health</a>
BB link (for phorums):
[url=http://www.toparticles.org.ua/article/102166/toparticles-Investing-Your-Money-Check-Your-Financial-Health.html]Investing Your Money: Check Your Financial Health[/url]
Related Articles:
The Long and Winding Road of Medical Billing
Digital Signage, Visual Merchandising, Electronic Billboards…? Dictionary Please!
Online Home Based Business Opportunity For Better Life
Bookmark it:
|