Ukugqiba ukuba i-Munis-Free Free i-Munis ilungele i-Portfolio yakho
Ukutshala imali kwiibhanki zikamasipala ezingenaserhafu yinkcubeko ehlonishwa ngexesha-mali phakathi kwabatyalo-mali abanomvuzo ongenamathengi abafuna ukufumana umvuzo wemali engenayo kwi- coupon interest , ekhutshwa yerhafu phantsi kweemeko ezifanelekileyo, ngelixa uncedisa ukuxhasa iziseko ezibalulekileyo kuluntu abahlala kuyo; utyalo-mali ngelixa kubenefuthe elihle ngokwakhiwa kwezibhedlele, amabhuloho, izibhedlele, izikolo kunye nezinye iinkonzo ezifunekayo kunye nezibonelelo ezifanelekileyo kunye nezibonelelo.
Akukunyaniseki ukuthetha ukuba utyalo-mali kumabhondi kamasipala wenza inkonzo yempucuko.
Kodwa izibophezelo zikamasipala, okanye i-munis njengamanye amaxesha ayaziwa, luhlobo oluthile lokhuseleko lwengeniso oluzinzileyo kunye nesigama sakhe, ingozi, imivuzo kunye namathuba. Ndifuna ukuthatha ixesha lokukuzisa kwiibhanki zikamasipala ezingenaspala, kukunika umbono ophezulu wezinto ezimbalwa zezona zinto ezisisiseko, uchaze isizathu sokuba izinto ezithile zibalulekile, kwaye kukukhomba ekubhekiseleleni kokufunda xa indawo enomdla kuyo.
Ukuba ungummi waseUnited States, kunokwenzeka kakhulu ukuba, ngokukhawuleza okanye kamva, izibophelelo zikamasipala ziya kuba yinxenye yepotfolio yakho ukuba unayo inzuzo enanini nayiphi na ubungakanani obuphawulekayo. Kungcono ukuziqhelanisa nabo ngokukhawuleza ukuze ukwazi ukukhula ngokukhululekile kunye nendlela abasebenza ngayo, kunye nezinye zeengqungquthela, ngexesha oqala ukubhala ukuhlola ukuba uzuze.
Izibophelelo eziqhelekileyo kunye neemali ezixhaswa ngemali Ingeniso yeMali kaMasipala
Ndifuna ukuqala ngokungena kwiintlobo ezimbini zeebhanki zikamasipala unokuhlangana nazo njengoko uqala ukuphanda le nkalo ye-asethi. Iyokuqala zibizwa ngokuba zibophelelo zentlawulo yomasipala, okanye i-GOs short, kwaye ixhaswa ngamandla oomasipala abakhishwe ukuba bahlawule irhafu.
- Izibophelelo eziqhelekileyo zixhaswa ukuhlawula iiprojekthi ezifana nezikolo kunye neenkqubo zokuthuthwa kwamanzi. Kubonakala ngathi ukhuselekile ukuba abatyala-mali abanomaspala kamasipala baqwalasela iimbophelelo zoxanduva oluqhelekileyo ukuba zikhuselekileyo kunokuba ziqhathaniswe neentlawulo zabathengi; ukungaqondi kakuhle ukuba akufanele ukholwe.
- Imali ye-Revenue ye-Revenue, ngokuchaseneyo, ikhutshwa likarhulumente okhethekileyo okanye urhulumente wengingqi echanekileyo njengemveliso yenkampani. Inzala iyakhonjiswa, okanye ihlawulwe, ngeniso evelwe kwishishini elibuyisela uxanduva. Kwimeko yenkampani yamanzi, abanini-mboleko banokuhlawulwa ngaphandle kwemali eveliswe kubathengi abahlawula iindleko zabo zamanzi.
Izintlu zeNtlawulo zeeNgxowa-mali zamaMasipala zikaRhulumente
Kwintliziyo yesibheno seebhanki zikamasipala yonyango lonyango oluvuza abo batyalo-mali ukuba batyalole kuluntu. Kuphela nje urhulumente waseburhulumenteni ukhulula ezi ntlawulo ezivela kwiintlawulo zeStar, ezingasindisa abo kwi-bracket ephezulu yentlawulo engama-43.4% kwizinga lokuhlawula irhafu phakathi kwezinga eliphezulu kakhulu kunye neerhafu ezikhethekileyo zerhafu, kodwa ukuba uhlala kwimeko ekhupha umasipala ubhondi, mhlawumbi akuyi kuhlawulwa irhafu yelizwe, nokuba.
Oku kuthetha ukuba, utyalo-mali ochanekileyo kwiimeko ezifanelekileyo, iibhanki zikamasipala ezingenanto zentlawulo zingabonakali.
Enyanisweni, nangona zibonakala zivelisa ngaphantsi kweebhonkco zenkampani , kunokwenzeka ukuba ibhondi kamasipala ithengise irhafu ukuba ivelise ngaphezulu kwerhafu emva kwentela. Ukufumanisa ukuba ngaba kunjalo, kufuneka ulinganise izivuno zombini usebenzisa into eyaziwayo njengesivuno esifanayo. Inkomfa yerhafu ehlawulwayo ehlawuliswayo kwiimbophelo zikamasipala ilula. Yile ntlawulo: Ukukhutshwa kwentela ehlawulwayo ÷ (1 - isamba sentlawulo ephezulu esetyenzisiweyo kumvuzo-mali).
Umzekeliso unokunceda. Khawucinge ukuba ungumrhwebi ophezulu ofumana imali engenayo kwi-low-figures-abalingani abahlala eCalifornia ukuze ufanele uhlawule ama-43.4% kwizinga leSithili, kwaye u-13.3% kwinqanaba likarhulumente kwiholo lakho elibi kakhulu .
Njengoko iirhafu zaseburhulumenteni zinokudityaniswa ekubalweni kweerhafu zorhulumente, kuya kufuneka ukuba uhlawule kuphela loo ntlawulo ye-13.3% yerhafu kwi-56.6% ye-income tax pre-tax, okwenze ukuba kubekho i-tax rate engama-7.53% ngaphezulu kwe-43.4% uhlawula kwi-IRS.
Oku kuthetha ukuba, konke okubandakanya, kufuneka usebenzise i-50.93% yesigatshana kwi-calculable equals calculation calculation.
Ukhangele ibhondi kamasipala kaMasipala waseRichardside i-AA yi-S & P kunye ne-Aa2 yi-Moody's. Ikhula ngo-Agasti 1, ngo-2032 kodwa iyancipha ukuze isivuno sokukhula ku-2.986% siphezulu kunesivuno-esibi kakhulu, esiyi-2.688%. Kule meko, ngenxa ye-conservatism, siya kuthatha isivuno esibi nakakhulu ngokwenene siya kwi-fruition kwaye sihamba ne-2.688%. Ubunjani ubungqina boshishino olufunekayo ukuba lube nokunikezela ngeniso elandelayo emva kwentlawulo? Sasiza kuthatha ifomula yokulinganisa i-intanethi kunye neeplagi kwizinto esiziwayo:
- Inyathelo 1: 2.688 ÷ (1 - 0.5093)
- Inyathelo 2: 2.688 ÷ 0.4907
- Impendulo: 5.48%
Oko kukuthi, ukugqiba kunye nexabiso elilinganayo lemali engenayo yentela emva kwerhafu, uya kufuna izibhonkco zenkampani ezinokulinganiswa kobunjani ngo-Agasti ka-2032 ukuhlawula u-5.48% nje ukuba udibanise kunye ne-bond free bond qwa lasela.
Ukukhangela ngokukhawuleza kwimiqulu yempahla yenkampani enye ebalulekileyo yenkampani yokuthengisa ngemali ibonisa ukuba unako ukufikelela kunoma yintoni na kwiloluhlu ngokukhawuleza ukhonjiswe i-AA + nge-S & P kunye ne-A1 yi-Moody ye-General Electric Capital eqhubeka ngoDisemba 15, 2032.
Bafumana isivuno sokuvuthwa kwe-3.432% kwaye abanakho ukuthoba, ngoko ke akukho mveliso engakumbi. Oko akusondele. Awuyi kubakho ishishini lokuthenga izibophelelo zentlawulo phantsi kwemiqathango. Iindleko zakho ngabanye zenza ukuba nabo bangafani.
Enye indlela ongayenza ngayo i-arbitrage ikhowudi yentela kukusebenzisa isicwangciso esibizwa ngokuba yi- aseset placement . Awusoze ufune ukufumana izibophelelo zomasipala ezingenaserhafu ngaphakathi kweendawo zokuhlala zentela ezifana neRoth IRA kuba uya kuba ngcono ekuthengeni izibophelelwano eziphezulu ezikhuphayo njengoko zikhutshwa kwiintlawulo zaseburhulumenteni nakwi-State ngelixa ukhuseleko luvala loo nto akhawunti.
Ngokufanayo, imibutho engekho inzuzo, amaziko encedo, kunye namachibi athile-mali, njengemali yokunikezelwa kwemfundo emfundo ephakamileyo, ngokufanayo baya kuba nabasebenzisi abancinci kwiibhanki zikamasipala ezingenaserhafu njengoko bahlala bekwazi ukufumana bhetele ngakumbi kwezinye iindawo.
Ukugqiba ukuba yeyiphi iibhondi zikaMasipala eziNgenimali-ntlawulo zikhuselekile ngokwaneleyo ukuQinisekisa uTyalo-mali
Ngaphandle kokuba uzimisele ukutyalima inani elibalulekileyo lexesha kunye nomzamo ukuqonda umgangatho woqhagamshelwano oluthile lomasipala, olubonakala lufanelekile ukuba unikezele ukuzinikezela xa utyalomali amakhulu okanye izigidi zeedola, kukho ulwazi oluncinane kakhulu ziyafumaneka malunga nomcimbi ngamnye wemibutho kamasipala.
Ngethamsanqa, oomasipala abaninzi baya kuhlawula ukuba babe ne-arhente yokulinganisa i-arhente banike iikhredithi kwiibhanki zabo zomasipala ezingenaserhafu ngethemba lokutsala abatyali-mali. Abanini-zimali abaninzi abanomdla bathetha abantu abaninzi ukuba bathengise iibhondi, ezinciphisa izinga lomdla kwaye zivelise, zigcine imali kumasipala.
Abahlalutyi kwi-agency-rating bond banokuchitha ixesha lokuqulunqa umgangatho kunye nokukhuselwa kombango othile we-bond bond kamasipala, ukujonga izinto ezifana nomyinge wokufumana inzala , ukuchonga ukuba ibhondi ingaba ibakala lotyalo-mali okanye cha. Ezinye izibophelelo zikamasipala azilinganisi, kwimeko apho umtyalo-mali unokucinga ukuba uyadlula ngokupheleleyo okanye, ukuba bazimisele ukuxhasa uxanduva lobambiswano oluthile, ngakumbi nangakumbi ukukhangela umda wokhuseleko.
Kubani abafuna ukulinganisa ukhuseleko lweebhanki zamasipala zakho ezingenaserhafu, uyise wexabiso lokutshala imali, uBenjamin Graham, uneziphakamiso ezithile ekuphatheni kwakhe uhlalutyo loKhuseleko . Umzekelo, ubuncinci, phantse ufune ukufumana iimfuno ezincinci zabantu, imbali yeentlawulo zeekhonkco zexesha, kunye nezoqoqosho ezahlukeneyo ukuxhasa ukuhamba kwemali.
Ngaphezu kwakho konke, ufuna ukwazi 1.) ngubani onoxanduva lokuncedisa iintlawulo zomdla kunye nokukhula kweenqununu zexesha elizayo, kunye no-2.) uphuhliso lwezomnotho lomniki-mveliso, zombini kwisakhono kunye nokuzimisela ukwenza izithembiso zakhe. Kwinqaku edibeneyo, enye yeengozi ezinkulu eziza kukujamelana nazo, ngakumbi kunye nezibophelelo zikamasipala ezingenamsebenzi zangexesha elide, ngumngcipheko wokunyuka kwamaxabiso.
Iingcamango ezingakumbi malunga nokutshala imali kwiimali eziMasipala ezingenanto
Ngaphandle kwezi ngcamango, kufuneka ucinge ngezinto oza kuziqwalasela kunye nezinye iintlobo zeemali zokufumana imali engenayo . Ngokomzekelo, ukuba unayo imfuno ethile yokuhamba kwemali, okanye ukuba unokuhlala ixesha elide lokuhlala kunye nokugqithiswa kotyalo-mali, mhlawumbi uya kukwazi ukunciphisa umngcipheko wakho kwaye ukwandise isivuno sakho esiphumelelayo ngokwakha i-ladder bond bond .
Uyakufuna ukugcina iliso kwimeko yomthengisi wembopheleleko-jonga indlela ubutyebi beDetroit butshintshile ngayo ixesha - ukuqinisekisa ukuba ingqiqo ayifuni ukuba uthengise ubhondi phambi kokuba iingxaki zide kakhulu ukulungisa kwaye inqununu yakho isengozini.
Ungaphinda ufune ukujonga incwadi enhle ngumfazi ogama linguAnnette Thau othiwa yiBond Book . Kwabhalwa kwabo banamava amancinci okanye angabikho mva kunye nokugcina yonke into umtyalomali kufuneka azi. Ndiyincoma kakhulu.