Thursday, May 21, 2020

Laws And Conventions Affecting Indigenous Peoples - Free Essay Example

Sample details Pages: 4 Words: 1205 Downloads: 5 Date added: 2017/06/26 Category Law Essay Type Review Did you like this example? With a substantial portion of the worlds indigenous peoples living in Asia and the Pacific, virtually every country in the region has an indigenous population. While the effectiveness of provisions may vary, some countries recognize the unique status of indigenous peoples and offer the privileges and protections of citizenship. Few countries have enacted laws that recognize any rights of indigenous peoples to ancestral lands, or that support indigenous peoples regaining and strengthening their social, cultural, and legal institutions. Don’t waste time! Our writers will create an original "Laws And Conventions Affecting Indigenous Peoples" essay for you Create order In many cases, enforcement of laws that may exist has been inadequate. Some countries have experienced conflicts between interests of indigenous peoples and interests of dominant and mainstream communities. These conflicts most often relate to control over and exploitation of natural resources in the areas indigenous peoples claim as traditional domains. Appropriation of ancestral territories or resources in these territories by governments or external interests most often is justified as a part of economic development and growth. Indigenous peoples sparse occupation of large areas of land and nonintensive use of resources often is characterized by external interests as economic inefficiency or lost opportunity. Indigenous peoples land and resource management practices sometimes are viewed as unsustainable or environmentally damaging. At the national level, in some cases, new laws, policies, and other measures may be necessary to reconcile competing demands and conflicting inte rests, especially if interests of indigenous peoples are to be protected. In any case, however, the Bank must respect the will of governments, including legislation and policy that exists and the power of eminent domain that governments possess. Country programs and project selection will be developed in cooperation with governments. When difficulties are encountered, the Bank may be able to provide guidance or assistance through mechanisms such as policy dialogue and technical assistance. International Conventions and Declarations The international community has shown increasing concern for the protection of the rights of indigenous peoples. Conventions and declarations of the international community provide a broad framework, as well as specific statements regarding the protection of indigenous peoples and their interests, cultures, ways of life, cultural survival, and development. It may be noted that some international instruments relating to indigenous peoples have not been ratified by large numbers of the international community. The United Nations Universal Declaration of Human Rights (1948) and International Covenant on Civil and Political Rights (1966) have specific significance for indigenous peoples. The Universal Declaration provides a common standard for the human rights of all peoples and all nations, and proclaims the importance of traditional, political, and civil rights, as well as basic economic social and cultural rights. The Covenant spells out civil and political rights and guiding pri nciples based on the Universal Declaration. The 1957 International Labour Organisation (ILO) Convention No. 107, Protection and Integration of Indigenous and Other Tribal and Semi-Tribal Populations in Independent Countries, addresses the right of indigenous peoples to pursue material well-being and spiritual development, and was a first international instrument in specific support of indigenous peoples. Largely because of its view that indigenous peoples should be integrated into the larger society, a view that subsequently came to be seen by many as inappropriate, Convention No. 107 was followed in 1989 by ILO Convention 169, Convention Concerning Indigenous and Tribal Peoples in Independent Countries. Convention No. 169 presents the fundamental concept that the way of life of indigenous and tribal peoples should and will survive, as well as the view that indigenous and tribal peoples and their traditional organizations should be closely involved in the planning and implemen tation of development projects that affect them. As the most comprehensive and most current international legal instrument to address issues vital to indigenous and tribal peoples, Convention No. 169 includes articles that deal with consultation and participation, social security and health, human development, and the environment. To date, Convention No. 169 has been ratified by only a few countries, and so far by none in the Asian and Pacific Region. Agenda 21 adopted by the United Nations Conference on Environment and Development (UNCED) in 1992 recognizes the actual and potential contribution of indigenous and tribal peoples to sustainable development. The 1992 Convention on Biodiversity calls on contracting parties to respect traditional indigenous knowledge with regard to the preservation of biodiversity and its sustainable use. The Vienna Declaration and Programme of Action emerging from the 1993 World Conference on Human Rights recognizes the dignity and unique cultural co ntributions of indigenous peoples, and strongly reaffirms the commitment of the international community to the economic, social, and cultural well-being of indigenous peoples and their enjoyment of the fruits of sustainable development. The United Nations 1993 Draft Declaration on the Rights of Indigenous Peoples, developed with the direct participation of indigenous peoples representatives and currently under consideration within the United Nations, addresses issues such as the right to participation, the right of indigenous peoples to direct their own development, the right of indigenous peoples to determine and develop priorities and strategies for the development or use of ancestral territories and resources, and the right to self-determination. The emerging concern for indigenous peoples prompted the United Nations to declare 1993 as the International Year of the Worlds Indigenous Peoples and the decade from December 1994 as the Indigenous Peoples Decade. Practices of Other International Institutions Among comparator organizations, World Bank policies and practices are the most relevant to the Bank. The World Banks Operational Directive 4.20: Indigenous Peoples establishes specific approaches to indigenous peoples in World Bank operations. Through its operational directive, the World Bank recognizes and takes into consideration issues such as the identification of indigenous peoples, the attachment of indigenous peoples to land and resources, the significance of distinct linguistic and cultural identities, and the primarily subsistence nature of indigenous peoples production systems. World Bank policy calls for indigenous peoples informed and willing participation in development, and respect for indigenous peoples dignity, human rights, and cultural uniqueness. For development interventions that affect indigenous peoples directly and significantly, an indigenous peoples development plan is required. Another comparator organization with direct relevance to the Bank is the Int er-American Development Bank (IDB). While IDB does not have a specific policy addressing indigenous peoples, it does address their concerns through its operational activities, an approach IDB considers more relevant to the circumstances of its region. Operational processes relating to involuntary resettlement, poverty reduction, rural development, and environmental and social impact assessment all include specific consideration of indigenous peoples concerns. In the IDB region, the poorest segments of society often are indigenous peoples, and projects are designed specifically to assist these groups. In the IDB, creation of special funds to support activities such as enterprise development and capacity building provide other avenues for the pursuit of issues relating to indigenous peoples. The representative offices that IDB maintains in its client countries provide a basis for country-specific consideration of indigenous peoples concerns. Among United Nations agencies, the Unite d Nations Development Programme (UNDP) has undertaken a number of programs to address indigenous peoples concerns. In the Banks region, the objectives of UNDPs Highland Peoples Programme, covering Cambodia, Lao Peoples Democratic Republic, Thailand, and Viet Nam, are to increase organizational capacities and opportunities among highland communities, in participatory planning, management, and coordination; establish and/or reinforce exchange mechanisms and procedures; and work for the overall development of highland communities in the four countries covered. https://www.landcoalition.org/program/ipp_int_instruments.html

Wednesday, May 6, 2020

Women in the Israeli Army Essays - 1382 Words

Women have always played a very integral role in the Israel Defence Forces (IDF), since its inception in 1948 shortly after the declaration of the State of Israel. The IDF is regarded as one of the most well trained armed forces in the world thanks in part to the progressive changes in the military with regards to equality for women. Historically, at the ground roots of the IDF, women were held back from combat and served mostly in a variety of support duties under the command of Chen (Women’s Army Corps). These support duties were extremely important to the functioning of the IDF, but did not satisfy those women who wanted a more active front line role. The aftermath of the Yom Kippur war in 1973 initiated a great change in military†¦show more content†¦If the daughters of Israel are absent from the army, then the character of the Yishuv (Jewish Community in Israel) will be distorted† â€Å"Israel Defence Forces - The Beginning, Women in the Early IDF†. A female unit that was responsible for all the women who served for the country was created. This unit was called Chen which is the Hebrew acronym for The Women’s Army Corps. They took care of all the women’s needs, and supplied them with jobs in the immigrant neighbourhoods of Israel. They also served in many support positions such as signal operators, drivers, cooks, medical assistants, educators, and administrators. Ben-Gurion’s vision of equality did not prove to be true as women were restricted from active combat roles in the IDF. One of the main reasons women were not allowed to participate in active combat was for fear of being captured as a prisoner of war. The reality that women soldiers would become victims of rape and sexual molestation if captured was far greater than it was for men. Also, the very strict Military Laws developed at the beginning of the IDF clearly restricted women from participating in any combat situations. 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Investigating the changing effects of temperature Free Essays

Investigating the effects of changing temperature on the activity of enzymes Background information: Renin is an enzyme that catalyses the coagulation of milk. It is found in the stomach of many animals and is used in making cheeses and Junkets. It is found in the gastric juices or gastric mucosa of many mammals, including humans. We will write a custom essay sample on Investigating the changing effects of temperature or any similar topic only for you Order Now In the human stomach, particularly those of infants, rennin works to curdle milk so that pepsin, another stomach enzyme, can further breakdown the proteins into absorbable amino acids called polypeptides. The aim of this experiment is to investigate the effect of changing temperature on the activity of enzymes. After experimentation the optimum temperature for enzyme activity will be established and the effects of varing temperature will be identified. Several experiments have already been conducted testing similar hypothesis and aims. All of these experiments also had very similar results. They found that approximately 370C was the optimal temperature for rennin; it was at this temperature that the milk solidified quickest. Below that the reaction would occur far more slowly, sometime taking hours to complete, sometimes not reacting at all. Above 370C, at approximately 450C, the enzyme would become enatured and the reaction would never occur, even after the temperature was lowered back down to 370C. 1 Aim: To investigate the reaction rate of the enzyme rennin at various temperatures Hypothesis: It is predicted that a rise in temperature (to approximately 400C) will increase enzyme activity. Wth further increase of temperature the protein enzymes will denature, lose their shape and therefore decrease in activity. Risk assessment: Risk Precaution Burns from the hot water bath or hot plate Ensure that all hot baths are set up in a visible area that is surrounded by minimal movement. If burns occur run affected area under cold water for 5-10 minutes depending on severity. Major burns should seek medical assistance Glass breakage can cause cuts/wounds Use test tube rack to steady test tubes. If glass breakage occurs immediately alert teacher, sweep up broken glass using a broom or dust pan and dispose of it in the appropriate bin Apparatus: Equipment Rationale 1 hot plate Heats water in hot bath for raising temperatures of milk and rennin above 300C 1 hot bath holds water which is heated by not plate 1 ice bath (500mL beaker + 6-7 ice cubes) Cools milk and rennin for testing temperatures below 300C regular test tubes Holds the 20mLs of milk required for each trial 3 micro test tubes Holds the small amount of rennin required 1 test tube rack Holds regular sized test tubes in place so handling does not influence reaction 20mL of milk Acts as substrate 2mL of rennin solution Acts as enzyme for milk 1 large pipette Gives precise measurment of milk 1 syringe Gives precise measurement of rennin 2 thermometers Measures temperature of milk and rennin when they are heated or cooled 1 timer Measures time taken for milk to set Method: Constant Variables Factor Importance Method of control Volume of milk The amount of milk determines the amount of substrate the enzyme has to work on which therefore effects the reaction rate. Keeping a constant amount of milk for each trial. Use Pipette Volume of rennin The amount of enzymes determines the amount of chemical reactions possible to occur. Keeping a constant amount of enzymes for each trial- Iml per every 10ml of substrate. Use a syringe Rennin and milk brought to the same testing temperature Temperatures must be constant for both substances to ensure accuracy when they are mixed. Place each substance in a hot or cold water bath with thermometers in their test tubes. Remove from water bath when the same temperature has been reached Same time recorder Timing must be accurate. With the same person reaction rate to press go and stop would be similar for each trial. Have the same time recorder for every trial possible Same setting standard A setting standard must be determined to make timing of reaction rate accurate. Make a class decision on what is classified as set Standerdized thermometers To ensure accurate temperature readings Ensure all thermometers are standardized before experimentation Type of milk- from the same container Different types of milk may influence enzyme activity Use the same milk for each trial Type of Junket- from the same container Different types of rennin may influence enzyme activity Use the same rennin for each trial Whether the solutions should be stirred or not A stirred or shaken solution may speed up reaction rate because more enzyme collisions would occur and faster Make a class decision on whether to shake/stir mixture or keep it still 1 . Measure 20mls of milk using the pippette and release it into a regular test tube 2. Measure 2mls of rennin using the syringe and release it into a micro test tube 3. Place thermometers in both test tubes ensuring that the rennin does not overflow 4. Fill a 500ml beaker with 250ml of water and 6-7 ice cubes 5. Place both test tubes in the ice bath 6. Watch both thermometers until they reach OOC 7. Pour the rennin solution into the test tube of milk. Begin timing as soon as all the rennin is poured into the milk 8. Shake the test tube slighlty to mix the rennin and milk together 9. Stop the timer once precipitate has formed or the milk has completely solidified 10. Repeat steps 1-9 using various other temperatures Note: use a hot plate and hot water bath when testing temperatures above 300C Results: Temperature ( C) Average time taken for milk to set (min) No reaction – did not set 10 5min + 20 4:42 4:37 1. 29 50 1. 48 70 Discussion: When temperatures were either very low or very high enzyme activity did not occur or was minimal. This is because cooler temperatures decrease the amount of kinetic energy within the enzyme molecules. If there is not a substantial amount of kinetic energy, enzyme molecules are unable to collide with their substrate which therefore prevents reaction from occurring. Because enzymes are proteins when temperatures were too high the enzymes denatured, lost their structure and shape, making their active sites no longer complementary to their substrate’s. At temperatures around 40-50C enzyme activity rapidly increased and the milk set under two minutes. This temperature range is therefore the optimum temperature for enzyme activity because enzymes obtain substantial amounts of kinetic energy and do not become denatured. Accuracy was not constant throughout the experiment as small amounts of rennin were lost everytime a thermometer was placed in the micro test tube. Some milk was also lost when the rennin was added to it and the test tube was shaken. This may have affected the reaction rate of the enzymes. It was very difficult to calculate the exact temperature t which the enzyme and substrate were mixed because their temperatures dropped or rose rapidly when they were removed from the hot or cold baths. This further affected the accuracy of the experiment as temperatures tested were not exact. Repeated trials of the same temperature all had similar results which made the averages precise. There were no outliers so averages were not too high or too low. If an outlier occurred during experimentation because of known reasons the trial was tested again. Each temperature was tested three times making the experiment reasonably reliable however different groups tested each temperature which may ave affected the reaction times recorded because of different perceptions about setting points and the speed of the persons timing. The limitations of this experiment were therefore caused by human error To prevent errors during experimentation more caution should have been taken when: mixing and shaking substances, recording the reaction rate, interpretation of setting time and the handling of test tubes. When shaking and handling the test tubes a stopper should have been used to prevent loss of mixture and exposure of heat from the person’s hands. Timing should have been conducted by the same person for every trial however this would ave taken far too long. Interpretation of setting time should have been clearly explained or demonstrated before conducting the experiment. The results of this experiment correlated closely to research undertaken about the effects of changing temperature on enzymes. This therefore made the practical more valid and reliable. Most constant variables were followed and monitored precisely which further added to the fairness of experimentation. A few constant variables that may have been affected by human error were the temperatures at which the substances were brought to, the volume of rennin and the perceptions of the milks setting point, lthough the same instructions were given to all students . Conclusion: Enzyme activity therfore increases as temperatures increase to their optimum temperature (37-450C). Once temperatures exceed the optimum temperature the enzymes denature (lose their shape) and become inactive. How to cite Investigating the changing effects of temperature, Papers

Friday, April 24, 2020

Sound In Poetry Essays (1013 words) - Poetic Rhythm, Alliteration

Sound In Poetry Poems usually begin with words or phrase which appeal more because of their sound than their meaning, and the movement and phrasing of a poem. Every poem has a texture of sound, which is at least as important as the meaning behind the poem. Rhythm, being the regular recurrence of sound, is at the heart of all natural phenomena: the beating of a heart, the lapping of waves against the shore, the croaking of frogs on a summer's night, the whisper of wheat swaying in the wind. Rhythm and sound and arrangement ?the formal properties of words?allow the poet to get beyond, or beneath the surface of a poem. Both Gwendolyn Brooks' "Sadie and Maud" (799) and Anne Bradstreet's "To My Dear and Loving Husband" (784) emphasize poetic sound to express their themes. Used to enhance sound in a poem, alliteration is the repetition of sound in consecutive or neighboring words, usually at the beginning of words. Both Brooks and Bradstreet make use of alliteration in their poems. "Sadie stayed at home. / Sadie scraped life..." (2-3) the repetition of s is evident in these two lines, reflecting the sassiness and independence that Sadie possessed. "Then while we live, in love lets [persevere]" (11) the slow musical repetition of the l sounds reflect the romantic emphasis in the poem. Assonance?the repetition of the same or similar vowel sound, especially in stressed syllables?can also enrich a poem. Assonance can be used to unify a poem as in Bradstreet's poem in which it emphasizes the thematic connection among words and unifies the poem's ideas of the husband and wife becoming one. "Compare with me ye woman if you can" (4). In Brook's poem, repeated vowel sounds extend throughout. Brooks indirectly links certain words and by connecting these words, she calls attention to the imagery that helps communicate the poems theme of how different two people who grew up in the same household can be. "Under her maiden name/ Maud and Ma and Papa..." (10-11). In addition to alliteration and assonance, poets create sound patterns with rhyme. The conventional way to describe a poem's rhyme scheme is to chart rhyming words that appear at the ends of lines. In Brooks' poem the rhyme scheme is abcb, defe which reinforces the way two things can begin the same, but change as time goes on. Naturally, rhyme does not have to be subtle to enrich a poem. An obvious rhyme scheme like the one in Bradstreet's poem is aabb, ccdd can communicate meaning by forcing attention on a relationship between two people that are not normally linked. The poem's theme speaks of the husband and wife becoming one, the poem's rhyme scheme is of two consecutive lines belonging together and having one sound. Rhyme can also be classified according to the position of the rhyming syllables in a line of verse. Bradstreet's poem contains beginning rhyme, Brooks' poem, on the other hand, contains only end rhyme. "I prize thy love more than whole mines of gold/ My love is such that rivers cannot quench/ Thy love is such I can in no way repay"(5, 7, 9). "Her girls struck out from home/ Her fine-tooth comb" (14, 16). Poets, too, create rhyme by using repeated words and phrases. "Sadie scraped life/ with a fine-toothed comb" (3-4) and "Sadie had left as heritage/ her fine-tooth comb" (15-16). The repeated phrases "Sadie" and "Maud", which shift from one subject to the other and back again "Maud went to college/ Sadie stayed at home" (1-2). The poem has a singing rhythm that resembles a song that children play to. The remembrance of carefree childhood ironically contrasts with the adulthood that both Sadie and Maud now face as they grow up: Sadie stays home and has two children out of wedlock; Maud goes to college and ends up "a thin brown mouse". Repeated phrases in Bradstreet's poem include "if ever" and"love". "If ever two were one then surely we. / If ever man were loved by wife then thee" (1-2). "My Love is such that rivers cannot quench, / Nor ought but love from the give recompence" (9-10). With such recurrence, the poem is like a slow romantic song and the repeated words are its rhythm. Meter, the pattern of stressed and unstressed syllables that govern a poem's lines, largely creates poetic rhythm. This gives readers the "beat" of the poem and approximates the sound of spoken language. The meter of Bradstreet's poem is iambic pentameter and it is evident throughout the poem. It contributes

Tuesday, March 17, 2020

Stalins Five-year plan essays

Stalin's Five-year plan essays Joseph Stalin, leader of Russia (1928-1953), created a Five-Year Plan that included methods and goals which were detrimental to Russian agriculture in 1928. Stalin wanted to transform individual farms into large collective farms because he saw that the government was losing money to private traders. This required that the majority of farmers would have to work and live together on large state-run farms. Through these farms Stalin hoped to increase agricultural productivity, to create grain reserves for Russia, and to free many peasants for industrial work in the cities. In order to begin collectivization Stalin had about 5 million wealthier peasants, or kulaks, deported and/or killed and their equipment and livestock sent to collective farms. Many of the remaining peasants were forced into collective farms to work where they faced disease, starvation, and death. The effects of Stalin's collectivization resulted in mass disruption of agricultural productivity and incalculable hu man losses. The decision to collectivize the farming sector had its origins in the grain crisis of 1928. Private traders offered better grain prices than the government did . "It was calculated that the prices of agricultural products in private trade, which in 1927-1928 exceeded the official prices by about 40 per cent, were almost double the official prices in the following year" . Due to the increase in private trade, the government began providing bread cards to workers only . Stalin realized a new system had to be devised in order to protect the governments' interests. One problem that was suppose to be solved through the Five-Year Plan was the methods of farming. Only two methods of farming were recognized in the Plan, the state farms and the co-operative farms. The state farm, also known as solkhozes, "contained the state-employed peasants, whose produce was directly destined for the State" . The co-operative farms, otherwise known as...

Sunday, March 1, 2020

Traditional Vs. Roth IRA Your Ultimate IRA Guide

Traditional Vs. Roth IRA Your Ultimate IRA Guide SAT / ACT Prep Online Guides and Tips IRAs, or independent retirement accounts, are tax-advantaged savings accounts that help you save money for retirement. There are two main types, traditional IRAs and Roth IRAs, and they work in slightly different ways. This guide will tell you everything you need to know about traditional and Roth IRAs and help you decide which type of account is better for you. Before delving into the differences, let’s go over what you need to know about independent retirement accounts in general. What Is an IRA? An IRA is a type of savings account designed to help you save for retirement. IRAs offer a major tax advantage wherein your money is only ever taxed once. In a brokerage account, your money can be taxed twice. An IRA is made up of financial products like stocks, bonds, and mutual funds. The money you contribute will slowly grow over time as a result of annual compound interest. Typically, savings in IRAs grow at a rate of 5% to 7% each year. While this growth won’t look like much at first, it can add up significantly over the decades. If you start saving in your twenties rather than your thirties, you’ll see a huge difference in returns. When it comes to saving for retirement, you’re much better off the earlier you start. While you can start contributing to an IRA at any time, you must abide by an IRA contribution limit. Read on to find out how much money you can put each year into your IRA. By putting your money in a protected environment, it can grow significantly bigger over time. How Much Can You Contribute to an IRA? Whether you have a traditional IRA or Roth IRA, you can only contribute up to $5,500 per year. This was the IRA contribution limit for 2015 and 2016. It could change in years to come due to inflation. If you’re over 50 years old, then you can contribute $1,000 more for a yearly total of $6,500. This extra $1,000 added to the IRA contribution limits is considered a â€Å"catch up† contribution to help out those who didn’t max out their limits in earlier years. Most people contribute to their IRAs via automatic monthly payments. You can put in as much or as little as you like, but you’ll see the greatest long-term benefit by contributing up to the $5,500 limit. Now that you have a general sense of IRAs and how they help you save for retirement, let’s look closer at the differences between a traditional vs. a Roth IRA. People 50 and over can contribute an additional $1,000 per year to catch up as they round the bases toward retirement. Roth vs. Traditional IRA: How Are They Different? The major difference between a traditional IRA and a Roth IRA has to do with how your money is taxed. By learning about the different tax structure, you can figure out which one is more advantageous to you, depending on your age and financial profile. The second difference when you look at Roth vs. traditional IRA has to do with when you can withdraw money. Consider the tax and withdrawal rules for traditional IRAs, followed by the tax and withdrawal Roth IRA rules. Tax Advantages of a Traditional IRA Traditional IRAs allow your money to grow completely un-taxed until you take it out. You contribute pre-taxed money, which grows in your account until you withdraw. While your money is tax deductible when you contribute to a traditional IRA account, it’s taxed normally when you withdraw. You’ll pay all the taxes that you didn’t pay before, but you may find that you’re saving money on taxes overall. Why? You may be in a lower tax bracket when you retire than you were when you were working and contributing money to your IRA. Traditional IRA Withdrawal Rules When you contribute money to a traditional IRA, you can’t touch it until you’re 59  ½ without penalty. If you withdraw money before, then you’ll have to pay a hefty 10% penalty. It’s recommended that you take out about 4% of your savings per year during retirement. Some accounts also have required minimum withdrawals (RMDs) that compel you to take out a certain amount of money once you hit 70  ½. Even if you’re still working at age 70  ½, you’ll be required to start withdrawing money from your IRA. the amount of the RMD varies by individual and is calculated based on your account balance and age. When you contribute to a traditional IRA, your money is basically kept under lock and key until you’re 59  ½. Tax Advantages of a Roth IRA While traditional IRAs are taxed later, Roth IRAs are taxed now. In other words, you contribute money that’s already been taxed to a Roth IRA. You don’t get any tax breaks for your contributions, but you won’t have to pay any taxes when you withdraw. Basically, a Roth IRA works in the exact opposite way of a traditional IRA. You pay taxes when you contribute and not when you withdraw, whereas with a traditional IRA you pay taxes when you withdraw and not when you contribute. Roth IRA Withdrawal Rules Roth IRA rules are more flexible than those of traditional IRAs about when you can withdraw your money. You can take out money from a Roth IRA at any time without penalty as long as you’ve held the account for at least five years. Technically, you can only withdraw money you’ve contributed without penalty. You can’t touch any earnings on your contributions until you retire. Roth IRAs also don’t have any RMDs, so you’re not required to take out your money once you surpass a certain age. With a Roth IRA, you could withdraw all your funds after five years to buy that pleasure yacht you’ve had your eye on. But, you probably shouldn’t. Traditional IRA vs. Roth Ira- Which One Should You Choose? Given the difference between Roth IRA rules and traditional IRA rules, which account would be more beneficial to you? The answer to that question largely depends on your age and current tax bracket. Younger people typically benefit more from a Roth IRA. They have plenty of time for their money to grow until retirement, and they’re usually in a lower tax bracket than they will be in 10 or 20 years. If you’re in your twenties and your tax bracket is 20% or lower, then you’ll probably benefit from a Roth IRA. People who are older and/or in a high tax bracket will probably do better with a traditional IRA. They can contribute more money, since it’s not taxed, and pay taxes when they’re in a lower tax bracket after retirement. To see how tax brackets affect your savings in an IRA account, consider the chart below. If your tax rate is lower in retirement Traditional Roth Current tax rate 25% Tax rate in retirement 15% Annual investment $5,500 $5,500 After-tax value in retirement* $613,313 $598,444 *Based on moderate growth (around 8% annual return) over 30 years If your tax rate is higher in retirement Traditional Roth Current tax rate 25% Tax rate in retirement 33% Annual investment $5,500 $5,500 After-tax value in retirement* $505,593 $598,444 *Based on moderate growth (around 8% annual return) over 30 years If your tax rate goes down in retirement, then you’ll have more money from a traditional IRA. If your tax rate goes up, then you’ll end up with more savings from a Roth IRA. A secondary factor to consider when deciding between a traditional and Roth IRA is your financial self-control. As you read above, the two types of IRAs have different withdrawal rules. Will you be able to resist withdrawing money from a Roth IRA before retirement? Since there’s no penalty for withdrawing after five years, you’ll need to set limits on your spending so you don’t end up splurging on a luxury vacation to Fiji with your hard-earned money that was supposed to go toward retirement. If you don’t have clear cut answers to either of these considerations, then you might consider opening both types of IRAs. Choosing between a traditional IRA and Roth IRA requires that you consider the balance between your tax bracket and years until retirement. Can You Choose Both Types of IRAs? If you’re unsure which account is more advantageous to you, then you could consider setting up both a traditional and a Roth IRA. If you start to see real advantages to one over the other, then you could roll your money over to one account. Before opening both types, you should carefully consider the implications of taxes. If you opt for the Roth IRA, then you’ll have to pay taxes on any money that you roll over from a traditional IRA. This money would have otherwise grown untaxed until you withdrew it at age 59  ½. You should also note that opening both types of accounts won’t increase your yearly contribution limit. If you choose both types of IRAs, then the $5,500 limit applies to both. You can only contribute $5,500 collectively to your retirement savings accounts per year. Choosing both types of accounts is unnecessarily complicated for the majority of people. You should only do so if you’ve done some serious calculations and feel that it would be financially beneficial to you in the long term. For most of us, choosing one type of account based on our age and current tax bracket is the better way to go. Once you’ve chosen your type of IRA, how do you get about setting up an account? If you're having trouble deciding between types of IRAs, you could hedge your bets and open both. How to Set Up an IRA There are a number of IRA providers with whom you can set up an account. Most require a minimum investment up front, but some are a lot lower than others. When you set up an account, you can either set it on auto-pilot or take a hands-on approach to choosing your investments and designing your portfolio. Below are six recommendations for the best IRA providers, but first, let’s go over the factors you should consider when choosing an IRA provider. What to Look for When Choosing an IRA Provider The best IRA providers offer some or all of the following: Low account fees Low account minimums Good customer service and educational resources for new investors Low fees for trading stocks (this mostly applies to people looking to take an active approach to building their portfolio) If you fall in the majority of people who want someone else to manage their account, then you should look for a managed account or a target-date fund. In these types of account, you’ll pretty much only have to set your estimated date of retirement. A broker will do the rest. Now that you know what to look for in an IRA account and provider, check out the suggestions for the top six IRA providers. When choosing an IRA account, you should look for low account fees and low account minimums. Best IRA Providers for 2016 Based on the factors listed above, these six providers rose to the top for their low account fees, strong customer service, and other offerings. TD Ameritrade - popular provider with strong resources and support for new investor. TD Ameritrade doesn’t require any minimum balance, and it has a large selection of funds to choose from. One downside is that its trade commission fees are higher than usual at $9.99. TD Ameritrade, then, is a better choice for the new or hands-off investor, but not as popular among active traders. Vanguard - another popular low-cost provider with a $0 minimum balance. Vanguard is especially strong when it comes to target-date funds, where you set your date of retirement and don’t have to do much else. E*Trade - a provider with a large selection of funds and no account minimums. E*Trade stands out for its user-friendly website. Wealthfront - this provider manages accounts of up to $10,000 for no fee. Wealthfront, then, is good for the average investor who wants to take a hands-off approach. Betterment - like Wealthfront, Benefit is appealing to the hands-off investor. It tends to cater to people with large balances of $100k or more. Options House - best for active traders. Options House has a lower than average per trade fee of just $4.95. Once you’ve decided between a traditional and Roth IRA and chosen your provider, how do you open your account? When it comes to choosing an IRA provider, you've got options. Delicious, delicious options. How to Open an IRA Account Opening an IRA account is an easy, online sign-up process. Just head to the website of your chosen provider and fill out the IRA application. You’ll enter personal information, including your social security number and employment information. Most providers offer a different kinds of accounts, so you'll choose the one you want to open. Here's an example from TD Ameritrade's "Open New Account" page. Source: TD Ameritrade You’ll also indicate how you’ll fund the account, e.g., through automatic monthly transfer from your bank account. You can also transfer money from an existing IRA or 401k (an employer-sponsored retirement account). Depending on your funding choice, you may need your account and routing number or the account number of a separate account. The best way to make the most of your IRA is to deposit money on a monthly basis, to max out your annual contribution limit, and to start as early as you can. If you start saving in your twenties, then you could have a savings account with hundreds of thousands of dollars by the time you retire. In closing, let’s go over the key points you need to remember about IRAs. Opening your IRA account is the first step toward a secure retirement! Saving for Retirement in an IRA: Key Takeaways When it comes to saving for retirement, it’s never too early to start. Because your money grows in an IRA, you’ll see significantly more earnings the longer your money is invested in the account. IRA accounts are especially beneficial because of their tax advantages. Your money will only ever be taxed once, either when you withdraw it, as in a traditional IRA, or when you contribute it, as in a Roth IRA. Both accounts have advantages, and the one you choose should largely depend on your age and current tax bracket. While you should figure out which account will maximize your savings, in truth, you can’t go wrong with either. Both are tax-advantaged accounts that will help you save up money that you’ll rely on later in life. By opening and contributing to an IRA, you invest in your future and let your money work for you. What's Next? What is ROA, and how can looking at it provide you with helpful investment information? We discuss the meaning of ROA (return on assets) and how you can use it in this article. Not ready to open up an IRA but still looking for ways to save? Try the 365-day penny challenge!

Friday, February 14, 2020

American Banking Industry Research Paper Example | Topics and Well Written Essays - 4500 words

American Banking Industry - Research Paper Example As a point of fact, banks are often and highly criticized due to being so driven towards profit maximization. Given this, banks often neglect its responsibility to the people as well as the environment. That is to say, banks may be directly or indirectly participating in harming the human beings and nature.   Review of Related Literatures This section aims at presenting an overview of the kinds of literature related to the topic of American banking industry. ... The expediency of this section is to help grasp an outlook on how to understand the topic under study. In this regard, this review of related kinds of literature is divided and categorized into the following segments which are: a) History of Banking Industry in America, b) The Role of the Banking Industry in the Social, Economic, and Political Setting of America, c) The Domestic and International Ethics, d) Ecological and Natural Resources, e) The Social Issues Faced by American Banking Industry, and f) The Corporate Stakeh olders Response to the Issues Confronting the American Banking Industry. a) History of Banking Industry in America According to Goyal and Joshi (2011), 2000 BC marks the earliest record of banking activity. During this era, the merchants lent money to the traders as well as farmers in Assyria and Babylonia. In this regard, it can be said that in the entire world, the industry of banking is among the oldest (Goyal & Joshi, 2011). In the United States of America, the earliest record of modern commercial banking industry had started in the year 1782 in Philadelphia (Mishkin & Serletis, 2010). According to Mishkin and Serletis (2010), the Bank of North America had been a success which triggered other banks to operate in America. On the one hand, 1791 marked the charter of Bank of the United States. This bank had functioned as a private bank and at the same time, a central bank that had an obligation to the economy of the whole society. However, its charter expired in 1811 which had lead to the establishment of another bank in 1816. Such charter of the Second Bank of the United States came to end in 1836 as Andrew Jackson rejected its rechartering.