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January 31, 2011 | ET Bureau

Periodically, companies chalk out plans to venture into new businesses or extend their existing businesses to achieve backward or forward integration aimed at either de-risking or achieving better economies of scale. Some diversifications turn out to be successful while others don't. This is because diversification comes with its own set of benefits and drawbacks. It is an enabling tool for companies intending to de-risk their businesses by...

NEWS

February 7, 2014 | BankBazaar

The second home buyer or investor normally falls into the dilemma when it comes to investing in land or an apartment. Both the investments have some merits and demerits, but there are a few important points that can help an investor arrive at a definite stand. Buying an independent land/floor means sovereign choice to build a house depending on one's own requirement and constraints. On the other hand, a flat apartment is a redesigned, multi-floored...

NEWS

April 11, 2011 | Shobhana Chadha , ET Bureau

Volatile markets may give sleepless nights to small investors, but mutual funds consider them as an opportunity to sell structured products. Given the uncertainty witnessed by the markets in the past few months, it's no surprise that nine capital protection-oriented funds have been launched since January this year and more such offerings are in the pipeline. But do these funds live up to their name and make for a good investment? Not necessarily. A capital protection...

NEWS

March 9, 2015 | Neha Pandey Deoras , ET Bureau

Thinking of investing in the PPF and fixed deposits for your little daughter's education or marriage? The Sukanya Samriddhi Yojana (SSY) could be a better alternative. The scheme, which was launched in January as part of the Prime Minister's Beti Bachao Beti Padhao initiative, was already eligible for deduction under Section 80C. The Budget has now made the income from the scheme tax free. The SSY is more attractive than the PPF because it offers a...

NEWS

August 24, 2012 | Ahona Ghosh , ET Bureau

MUMBAI: The year is 2004. Two top analysts of Rakesh Jhunjunwala's (RJ) Rare Enterprises are at the headquarters of Titan Industries in Bangalore. After two days of meetings with some 20 senior executives of the watches and jewellery marketer, the duo rushes back excitedly to Mumbai. The same night one of them makes a presentation of their findings to RJ, illustrating the bright prospects he foresaw for Titan, particularly in...

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Investment Jobs on CareerBuilder.com

An investment bank is a financial institution that assists individuals, corporations, and governments in raising financial capital by underwriting or acting as the client's agent in the issuance of securities (or both). An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services (fixed income instruments, currencies, and commodities).

Unlike commercial banks and retail banks, investment banks do not take deposits. From 1933 (GlassSteagall Act) until 1999 (GrammLeachBliley Act), the United States maintained a separation between investment banking and commercial banks. Other industrialized countries, including G7 countries, have historically not maintained such a separation. As part of the DoddFrank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act of 2010), the Volcker Rule asserts full institutional separation of investment banking services from commercial banking.[citation needed]

The two main lines of business in investment banking are called the sell side and the buy side. The "sell side" involves trading securities for cash or for other securities (e.g. facilitating transactions, market-making), or the promotion of securities (e.g. underwriting, research, etc.). The "buy side" involves the provision of advice to institutions concerned with buying investment services. Private equity funds, mutual funds, life insurance companies, unit trusts, and hedge funds are the most common types of buy side entities.

An investment bank can also be split into private and public functions with an information barrier which separates the two to prevent information from crossing. The private areas of the bank deal with private insider information that may not be publicly disclosed, while the public areas such as stock analysis deal with public information.

An advisor who provides investment banking services in the United States must be a licensed broker-dealer and subject to U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulation.[1]

The first company to issue publicly traded stock was the Dutch East India Company (Verenigde Oostindische Compagnie, or "VOC"), which traded on the Amsterdam Stock Exchange.

Investment banking has changed over the years, beginning as a partnership form focused on underwriting security issuance, i.e. initial public offerings (IPOs) and secondary market offerings, brokerage, and mergers and acquisitions, and evolving into a "full-service" range including securities research, proprietary trading, and investment management. In the modern 21st century, the SEC filings of the major independent investment banks such as Goldman Sachs and Morgan Stanley reflect three product segments: (1) investment banking (fees for M&A advisory services and securities underwriting); (2) asset management (fees for sponsored investment funds), and (3) trading and principal investments (broker-dealer activities including proprietary trading ("dealer" transactions) and brokerage trading ("broker" transactions)).[2]

In the United States, commercial banking and investment banking were separated by the GlassSteagall Act, which was repealed in 1999. The repeal led to more "universal banks" offering an even greater range of services. Many large commercial banks have therefore developed investment banking divisions through acquisitions and hiring. Notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Credit Suisse, Deutsche Bank, Barclays, and Wells Fargo. After the financial crisis of 200708 and the subsequent passage of the Dodd-Frank Act of 2010, regulations have limited certain investment banking operations, notably with the Volcker Rule's restrictions on proprietary trading.[3]

The traditional service of underwriting security issues has declined as a percentage of revenue. As far back as 1960, 70% of Merrill Lynch's revenue was derived from transaction commissions while "traditional investment banking" services accounted for 5%. However, Merrill Lynch was a relatively "retail-focused" firm with a large brokerage network.[3]

Investment banking is split into front office, middle office, and back office activities. While large service investment banks offer all lines of business, both "sell side" and "buy side", smaller sell-side investment firms such as boutique investment banks and small broker-dealers focus on investment banking and sales/trading/research, respectively.

Investment banks offer services to both corporations issuing securities and investors buying securities. For corporations, investment bankers offer information on when and how to place their securities on the open market, an activity very important to an investment bank's reputation. Therefore, investment bankers play a very important role in issuing new security offerings.[3]

Front office is generally described as a revenue generating role. There are two main areas within front office, i.e. Investment Banking and Markets:

Corporate finance is the traditional aspect of investment banks, which involves helping customers raise funds in capital markets and giving advice on mergers and acquisitions (M&A); this may involve subscribing investors to a security issuance, coordinating with bidders, or negotiating with a merger target. A pitch book of financial information is generated to market the bank to a potential M&A client; if the pitch is successful, the bank arranges the deal for the client. The investment banking division (IBD) is generally divided into industry coverage and product coverage groups. Industry coverage groups focus on a specific industry such as healthcare, public finance (governments), FIG (financial institutions group), industrials, TMT (technology, media, and telecommunication), P&E (power & energy), consumer/retail, food & beverage, corporate defense and governance and maintains relationships with corporations within the industry to bring in business for the bank. Product coverage groups focus on financial products such as mergers and acquisitions, leveraged finance, public finance, asset finance and leasing, structured finance, restructuring, equity, and high-grade debt and generally work and collaborate with industry groups on the more intricate and specialized needs of a client.

On the behalf of the bank and its clients, a large investment bank's primary function is buying and selling products. In market making, traders will buy and sell financial products with the goal of making money on each trade. Sales is the term for the investment bank's sales force, whose primary job is to call on institutional and high-net-worth investors to suggest trading ideas (on a caveat emptor basis) and take orders. Sales desks then communicate their clients' orders to the appropriate trading rooms, which can price and execute trades, or structure new products that fit a specific need. Structuring has been a relatively recent activity as derivatives have come into play, with highly technical and numerate employees working on creating complex structured products which typically offer much greater margins and returns than underlying cash securities. In 2010, investment banks came under pressure as a result of selling complex derivatives contracts to local municipalities in Europe and the US.[4]Strategists advise external as well as internal clients on the strategies that can be adopted in various markets. Ranging from derivatives to specific industries, strategists place companies and industries in a quantitative framework with full consideration of the macroeconomic scene. This strategy often affects the way the firm will operate in the market, the direction it would like to take in terms of its proprietary and flow positions, the suggestions salespersons give to clients, as well as the way structurers create new products. Banks also undertake risk through proprietary trading, performed by a special set of traders who do not interface with clients and through "principal risk"risk undertaken by a trader after he buys or sells a product to a client and does not hedge his total exposure. Banks seek to maximize profitability for a given amount of risk on their balance sheet. The necessity for numerical ability in sales and trading has created jobs for physics, computer science, mathematics and engineering Ph.D.s who act as quantitative analysts.

The securities research division reviews companies and writes reports about their prospects, often with "buy", "hold" or "sell" ratings. Investment banks typically have sell-side analysts which cover various industries. Their sponsored funds or proprietary trading offices will also have buy-side research. While the research division may or may not generate revenue (based on policies at different banks), its resources are used to assist traders in trading, the sales force in suggesting ideas to customers, and investment bankers by covering their clients. Research also serves outside clients with investment advice (such as institutional investors and high-net-worth individuals) in the hopes that these clients will execute suggested trade ideas through the sales and trading division of the bank, and thereby generate revenue for the firm. Research also covers credit research, fixed income research, macroeconomic research, and quantitative analysis, all of which are used internally and externally to advise clients but do not directly affect revenue. All research groups, nonetheless, provide a key service in terms of advisory and strategy. There is a potential conflict of interest between the investment bank and its analysis, in that published analysis can impact the performance of a security (in the secondary markets or an initial public offering) or influence the relationship between the banker and its corporate clients, thereby affecting the bank's profits.

Risk management involves analyzing the market and credit risk that an investment bank or its clients take onto their balance sheet during transactions or trades. Credit risk focuses around capital markets activities, such as loan syndication, bond issuance, restructuring, and leveraged finance. Market risk conducts review of sales and trading activities utilizing the VaR model and provide hedge-fund solutions to portfolio managers. Other risk groups include country risk, operational risk, and counterparty risks which may or may not exist on a bank to bank basis. Credit risk solutions are key part of capital market transactions, involving debt structuring, exit financing, loan amendment, project finance, leveraged buy-outs, and sometimes portfolio hedging. Front office market risk activities provide service to investors via derivative solutions, portfolio management, portfolio consulting, and risk advisory. Well-known risk groups in JPMorgan Chase, Goldman Sachs and Barclays engage in revenue-generating activities involving debt structuring, restructuring, loan syndication, and securitization for clients such as corporates, governments, and hedge funds. J.P. Morgan IB Risk works with investment banking to execute transactions and advise investors, although its Finance & Operation risk groups focus on middle office functions involving internal, non-revenue generating, operational risk controls.[5][6][7]Credit default swap, for instance, is a famous credit risk hedging solution for clients invented by J.P. Morgan's Blythe Masters during the 1990s. The Loan Risk Solutions group[8] within Barclays' investment banking division and Risk Management and Financing group[9] housed in Goldman Sach's securities division are client-driven franchises. However, risk management groups such as operational risk, internal risk control, legal risk, and the one at Morgan Stanley are restrained to internal business functions including firm balance-sheet risk analysis and assigning trading cap that are independent of client needs, even though these groups may be responsible for deal approval that directly affects capital market activities. Risk management is a broad area, and like research, its roles can be client-facing or internal.

This area of the bank includes treasury management, internal controls, and internal corporate strategy.

Corporate treasury is responsible for an investment bank's funding, capital structure management, and liquidity risk monitoring.

Internal control tracks and analyzes the capital flows of the firm, the finance division is the principal adviser to senior management on essential areas such as controlling the firm's global risk exposure and the profitability and structure of the firm's various businesses via dedicated trading desk product control teams. In the United States and United Kingdom, a comptroller (or financial controller) is a senior position, often reporting to the chief financial officer.

Internal corporate strategy tackling firm management and profit strategy, unlike corporate strategy groups that advise clients, is non-revenue regenerating yet a key functional role within investment banks.

This list is not a comprehensive summary of all middle-office functions within an investment bank, as specific desks within front and back offices may participate in internal functions.[10]

This involves data-checking trades that have been conducted, ensuring that they are not wrong, and transacting the required transfers. Many banks have outsourced operations. It is, however, a critical part of the bank.

Every major investment bank has considerable amounts of in-house software, created by the technology team, who are also responsible for technical support. Technology has changed considerably in the last few years as more sales and trading desks are using electronic trading. Some trades are initiated by complex algorithms for hedging purposes.

Firms are responsible for compliance with local and foreign government regulations and internal regulations.

There are various trade associations throughout the world which represent the industry in lobbying, facilitate industry standards, and publish statistics. The International Council of Securities Associations (ICSA) is a global group of trade associations.

In the United States, the Securities Industry and Financial Markets Association (SIFMA) is likely the most significant; however, several of the large investment banks are members of the American Bankers Association Securities Association (ABASA),[12] while small investment banks are members of the National Investment Banking Association (NIBA).

In Europe, the European Forum of Securities Associations was formed in 2007 by various European trade associations.[13] Several European trade associations (principally the London Investment Banking Association and the European SIFMA affiliate) combined in 2009 to form Association for Financial Markets in Europe (AFME).

In the securities industry in China (particularly mainland China), the Securities Association of China is a self-regulatory organization whose members are largely investment banks.

Global investment banking revenue increased for the fifth year running in 2007, to a record US$84 billion, which was up 22% on the previous year and more than double the level in 2003.[14] Subsequent to their exposure to United States sub-prime securities investments, many investment banks have experienced losses. As of late 2012, global revenues for investment banks were estimated at $240 billion, down about a third from 2009, as companies pursued less deals and traded less.[15] Differences in total revenue are likely due to different ways of classifying investment banking revenue, such as subtracting proprietary trading revenue.

In terms of total revenue, SEC filings of the major independent investment banks in the United States show that investment banking (defined as M&A advisory services and security underwriting) only made up about 15-20% of total revenue for these banks from 1996 to 2006, with the majority of revenue (60+% in some years) brought in by "trading" which includes brokerage commissions and proprietary trading; the proprietary trading is estimated to provide a significant portion of this revenue.[2]

The United States generated 46% of global revenue in 2009, down from 56% in 1999. Europe (with Middle East and Africa) generated about a third while Asian countries generated the remaining 21%.[14]:8 The industry is heavily concentrated in a small number of major financial centers, including City of London, New York City, Frankfurt, Hong Kong and Tokyo.

According to estimates published by the International Financial Services London, for the decade prior to the financial crisis in 2008, M&A was a primary source of investment banking revenue, often accounting for 40% of such revenue, but dropped during and after the financial crisis.[14]:9 Equity underwriting revenue ranged from 30% to 38% and fixed-income underwriting accounted for the remaining revenue.[14]:9

Revenues have been affected by the introduction of new products with higher margins; however, these innovations are often copied quickly by competing banks, pushing down trading margins. For example, brokerages commissions for bond and equity trading is a commodity business but structuring and trading derivatives has higher margins because each over-the-counter contract has to be uniquely structured and could involve complex pay-off and risk profiles. One growth area is private investment in public equity (PIPEs, otherwise known as Regulation D or Regulation S). Such transactions are privately negotiated between companies and accredited investors.

Banks also earned revenue by securitizing debt, particularly mortgage debt prior to the financial crisis. Investment banks have become concerned that lenders are securitizing in-house, driving the investment banks to pursue vertical integration by becoming lenders, which is allowed in the United States since the repeal of the Glass-Steagall Act in 1999.[16]

According to the Financial Times, in terms of total advisory fees for the whole of 2014, the top ten investment banks were:[17]

The above list is just a ranking of the advisory arm (M&A advisory, syndicated loans, equity capital markets and debt capital markets) of each bank and does not include the generally much larger portion of revenues from sales and trading and asset management.

Mergers and acquisitions and capital markets are also often covered by The Wall Street Journal and Bloomberg.

The 2008 financial credit crisis led to the collapse of several notable investment banks, such as the bankruptcy of large investment bank, Lehman Brothers; and the hurried sale of Merrill Lynch and the much smaller Bear Stearns to much larger banks which effectively rescued them from bankruptcy. The entire financial services industry, including numerous investment banks, was rescued by government loans through the Troubled Asset Relief Program (TARP). Surviving U.S. investment banks such as Goldman Sachs and Morgan Stanley converted to traditional bank holding companies to accept TARP relief.[18] Similar situations occurred across the globe with countries rescuing their banking industry. Initially, banks received part of a $700 billion TARP intended to stabilize the economy and thaw the frozen credit markets.[19] Eventually, taxpayer assistance to banks reached nearly $13 trillion, most without much scrutiny,[20] lending did not increase[21] and credit markets remained frozen.[22]

The crisis led to questioning of the business model of the investment bank[23] without the regulation imposed on it by Glass-Steagall.[neutrality is disputed] Once Robert Rubin, a former co-chairman of Goldman Sachs, became part of the Clinton administration and deregulated banks, the previous conservatism of underwriting established companies and seeking long-term gains was replaced by lower standards and short-term profit.[24] Formerly, the guidelines said that in order to take a company public, it had to be in business for a minimum of five years and it had to show profitability for three consecutive years. After deregulation, those standards were gone, but small investors did not grasp the full impact of the change.[24]

A number of former Goldman-Sachs top executives, such as Henry Paulson and Ed Liddy were in high-level positions in government and oversaw the controversial taxpayer-funded bank bailout.[24] The TARP Oversight Report released by the Congressional Oversight Panel found that the bailout tended to encourage risky behavior and "corrupt[ed] the fundamental tenets of a market economy".[25]

Under threat of a subpoena, Goldman Sachs revealed that it received $12.9 billion in taxpayer aid, $4.3 billion of which was then paid out to 32 entities, including many overseas banks, hedge funds and pensions.[26] The same year it received $10 billion in aid from the government, it also paid out multimillion-dollar bonuses; the total paid in bonuses was $4.82 billion.[27][28] Similarly, Morgan Stanley received $10 billion in TARP funds and paid out $4.475 billion in bonuses.[29]

The investment banking industry, and many individual investment banks, have come under criticism for a variety of reasons, including perceived conflicts of interest, overly large pay packages, cartel-like or oligopolic behavior, taking both sides in transactions, and more.[30] Investment banking has also been criticised for its opacity.[31]

Conflicts of interest may arise between different parts of a bank, creating the potential for market manipulation, according to critics. Authorities that regulate investment banking, such as the Financial Conduct Authority (FCA) in the United Kingdom and the SEC in the United States, require that banks impose a "Chinese wall" to prevent communication between investment banking on one side and equity research and trading on the other. Critics say such a barrier does not always exist in practice, however.

Conflicts of interest often arise in relation to investment banks' equity research units, which have long been part of the industry. A common practice is for equity analysts to initiate coverage of a company in order to develop relationships that lead to highly profitable investment banking business. In the 1990s, many equity researchers allegedly traded positive stock ratings for investment banking business. Alternatively, companies may threaten to divert investment banking business to competitors unless their stock was rated favorably. Laws were passed to criminalize such acts, and increased pressure from regulators and a series of lawsuits, settlements, and prosecutions curbed this business to a large extent following the 2001 stock market tumble after the dot-com bubble.

Philip Augar, author of The Greed Merchants, said in an interview that, "You cannot simultaneously serve the interest of issuer clients and investing clients. And its not just underwriting and sales; investment banks run proprietary trading operations that are also making a profit out of these securities."[30]

Many investment banks also own retail brokerages. During the 1990s, some retail brokerages sold consumers securities which did not meet their stated risk profile. This behavior may have led to investment banking business or even sales of surplus shares during a public offering to keep public perception of the stock favorable.

Since investment banks engage heavily in trading for their own account, there is always the temptation for them to engage in some form of front running the illegal practice whereby a broker executes orders for their own account before filling orders previously submitted by their customers, thereby benefiting from any changes in prices induced by those orders.

Documents under seal in a decade-long lawsuit concerning eToys.com's IPO but obtained by New York Times' Wall Street Business columnist Joe Nocera alleged that IPOs managed by Goldman Sachs and other investment bankers involved asking for kickbacks from their institutional clients who made large profits flipping IPOs which Goldman had intentionally undervalued. Depositions in the lawsuit alleged that clients willingly complied with these demands because they understood it was necessary in order to participate in future hot issues.[32]Reuters Wall Street correspondent Felix Salmon retracted his earlier, more conciliatory, statements on the subject and said he believed that the depositions show that companies going public and their initial consumer stockholders are both defrauded by this practice, which may be widespread throughout the IPO finance industry.[33] The case is ongoing, and the allegations remain unproven.

Investment banking is often criticized for the enormous pay packages awarded to those who work in the industry. According to Bloomberg Wall Street's five biggest firms paid over $3 billion to their executives from 2003 to 2008, "while they presided over the packaging and sale of loans that helped bring down the investment-banking system." [34]

The highly generous pay packages include $172 million for Merrill Lynch & Co. CEO Stanley O'Neal from 2003 to 2007, before it was bought by Bank of America in 2008, and $161 million for Bear Stearns Co.'s James Cayne before the bank collapsed and was sold to JPMorgan Chase & Co. in June 2008.[34]

Such pay arrangements have attracted the ire of Democrats and Republicans in the United States Congress, who demanded limits on executive pay in 2008 when the U.S. government was bailing out the industry with a $700 billion financial rescue package.[34]

Writing in the Global Association of Risk Professionals, Aaron Brown, a vice president at Morgan Stanley, says "By any standard of human fairness, of course, investment bankers make obscene amounts of money." [30]

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Investment banking - Wikipedia, the free encyclopedia

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Making an investment is a way to increase the amount of money an investor has by placing the money in a financial security. This can be investment in anything that potentially grows in value like stocks, bonds and bank accounts. Investment can be risky, but the possible gains often outweigh potential risks in the minds of avid investors.

Investment is a way for people to accumulate enough money to buy something very expensive. This can be a house, a car, a college education, or retirement. Investment is more than just saving. It makes money work for you by growing. If you do not invest, the buying power of your money decreases as inflation makes everything more expensive. Investment also provides emergency money in case of an unexpected expense from the loss of a job, medical costs or an accident.

Most people who earn a paycheck have investments. This can be as simple as opening a checking or savings account at a local bank. Many workers take advantage of employer sponsored 401k plans to invest for retirement. Others start their own IRA accounts for retirement. These types of accounts take advantage of tax deductions and exemptions as well as investing in securities. These are usually mutual funds containing stocks, bonds and money market funds. All of these investments have the potential to grow in value and pay interests or dividends.

Different types of investments offer different risks and rewards. Just about everyone has a bank checking and savings account. There is no risk to these investments, but they only pay a few percentage points of interest per year. Only short term money needed for immediate expenses should be invested in them. Certificates of deposit and money market accounts are also commonly owned. They pay a few more percentage points of interest per year and also have very little risk to investment principle. However, they require higher balances and time commitments. Emergency money is often invested this way so it is safe and available if needed.

There is historically higher potential for long term gain using bonds and stocks for investment. Bonds primarily pay dividends that are like interest but less predictable. The dividend amount tends to be a little higher than CD and money market accounts, but there is more risk involved. Stocks offer the greatest potential for long term investment growth. This makes them the riskiest types of investment. Stock share prices can rise and fall dramatically in the short term. However, historically stocks outperform other types of investments over many years. This is why long term investment for retirement tends to weigh heavily in stocks. Stocks and bonds are most commonly owned by individual investors through mutual funds. They bundle many stocks and bonds together.

Financial advisers recommend investing in a variety of financial securities. This mitigates losses in the event of a sudden dramatic economic downturn while optimizing financial gain in good economic times. The amount of risk in an investment portfolio depends on the time frame of the investor. Young people with many years until retirement can keep a large portion of their money in aggressive stocks since they have time to outlast short term fluctuations in stock prices. However, investors approaching retirement age should shift a majority of their money into conservative bonds, certificates of deposit and money market funds so they are not devastated by a sudden economic collapse.

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What is Investment? | eHow

By Charlene M. Proctor, Ph.D. , the Official Guide To Positive Thinking Average:

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A positive mental attitude is the belief that one can increase achievement through optimistic thought processes. A positive attitude comes from observational learning in the environment and is partially achieved when a vision of good natured change in the mind is applied toward people, circumstances, events, or behaviors (Wikipedia). Since it is difficult to quantify (measure) the effects of a positive mental attitude, it can be considered a philosophy and a way to approach life.

Positive thinking is a discipline that trains the human mind to change a perceived reality by repeatedly making positive mental statements. A person practices positive thinking when they derive a positive sense of well being, optimism, belonging, meaning and/or purpose from being part of and contributing back to something larger and more permanent than themselves. Positive thinking is a process of choosing positive emotions from stimuli in the environment and applying them to perceptions and beliefs. The objective is to create an outlook that translates into a new or better chosen reality.

Experiencing Success Through a Positive Mental Attitude

The practice of positive thinking, repeated positive statements, and witnessing success through a positive mental attitude, is an idea many mystics and spiritual teachers have presented throughout history. Retiring certain emotions and breaking the addiction of old emotional states is a choice and requires persistent effort. A successful mental attitude that includes thoughts of gratitude, unconditional love, and freedom can translate into new perceptions of a persons perceived reality.

Adopting positive thinking with the intention of experiencing change can be accomplished in a number of ways:

Recognize that change is needed.

Believe change is possible. The brain can be re-programmed to provide support in your life.

Give yourself permission to be in control of your own life.

Practice awareness of your emotional state. Your internal state is what creates your external world.

Release past negative experiences and move forward.

Let go of self-criticism and move forward when a challenge arises.

Stay in present moment thinking and affirm powerful and positive thoughts regularly.

Practice verbal harmlessness. Identify and eliminate negative speech habits e.g., I cant, Ill try, or Ive never been able to.

Be thankful for what you have.

Have a positive vision for your life and for others around you.

Live proactively.

Know that you are composed of unlimited Divine Spirit and are an example of uniqueness and wonder.

Positive thinking is associated with empowerment because an empowered thinker is one who masters their emotions and outlook on life. By being aware of our internal state, and how that translates into our reactions and behaviors, it is possible to develop the mind to support who we want to be, rather than being an effect of our world.

For a more complete definition on positive thinking, see The Evolution of Positive Thinking: Views from Science, Spirituality, Psychology and Hollywood by Charlene M. Proctor, Ph.D.

References: http://en.wikipedia.org/wiki/Positive_mental_attitude http://en.wikipedia.org/Science_of_mind http://en.wikipedia.org/wiki/Affirmation

Keywords: Positive thought, positive attitude, positive psychology, positive mental attitude, success through a positive mental attitude

Author's Bio:

This definition was written by Charlene M. Proctor, Ph.D., the Official SelfGrowth.com Guide to Positive Thinking. Dr. Charlene M. Proctor is the founder of The Goddess Network, Inc. an on-line educational resource for topics on spirituality, relationships, and women's studies. Author of Let Your Goddess Grow! she is a researcher and educator in the field of women's empowerment and develops self-empowerment strategies for women in all walks of life. She is a subject matter expert for Beliefnet.com, the world's largest self-help and personal growth website. Her affirmations from The Women's Book of Empowerment reach 2.7 million web visitors daily. She currently facilitates the PATH to Empowerment program for Lighthouse Path in Michigan, a residential women's shelter for homeless mothers, teaching them how to cope with life and increase self-esteem and confidence. To learn more, visit http://www.thegoddessnetwork.net

Additional Resources covering Positive Thinking can be found at:

Website Directory for Positive Thinking Articles on Positive Thinking Products for Positive Thinking Discussion Board Charlene M. Proctor, Ph.D., Official Guide on Positive Thinking

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The Definition of a Positive Mental Attitude - SelfGrowth.com

This section is intended to provide you with an overview of the FRS Pension Plan - from how and why the plan is offered, to eligibility requirements, retirement income options, and related programs. Click on the subheadings below to access the specific topic of interest within this page.

How It Works

The FRS Pension Plan is a defined benefit plan, in which you are promised a benefit at retirement if you meet certain criteria. The amount of your future benefit is determined by a formula, based on your earnings, length of service, and membership class, and is adjusted by a 3% cost-of-living each July (adjustment only applicable for FRS service earned prior to July 1, 2011). Your benefit is pre-funded by contributions paid by your employer. The Florida Retirement System must ensure that sufficient funds are available when your benefits are due and bears the market risk and investment decisions.

Why the FRS Is Offering This Plan

The Pension Plan has been offered to employees for over 40 years. It is primarily designed to serve longer-service employees who will be with the FRS for most of their career. Older employees and those employees who do not want to control their retirement plan may also prefer the Pension Plan.

Who's Eligible for the FRS Pension Plan?

All FRS employees are eligible for the Pension Plan except:

How Your Benefit Accumulates

In the Pension Plan, your benefits are generally back-loaded, which means that you accumulate benefits slowly at first and then at a faster rate the longer you stay. This is different from the Investment Plan, where benefits are earned more or less evenly over your career (subject to fluctuations in the financial markets and your investment strategy). So, if you stay with FRS employers for most of your career or for the final years of your career, you're more likely to receive a greater benefit under the Pension Plan.

When You Own Your Benefit

You will be eligible for a Pension Plan benefit (i.e. be vested) when you complete six years of service (if you enrolled in the FRS prior to July 1, 2011) or eight years of service (if you enrolled in the FRS on or after July 1, 2011). If you use your 2nd Choice option to transfer from the FRS Investment Plan to the FRS Pension Plan, you will be able to count your Investment Plan service toward the vesting requirement.

(To transfer from the Investment Plan to the Pension Plan, you will need to "buy in" to the Pension Plan by paying an amount from your Investment Plan account balance, plus any necessary amount from your personal resources. If you have previous Pension Plan service prior to joining the Investment Plan, the buy in cost will be calculated as the present value of the "accrued" FRS Pension Plan benefit. If you do not have previous Pension Plan service, the buy in cost will be the actuarial accrued liability, or total cost, of the "accrued" Pension Plan benefit. The buy in cost could be a substantial amount and could make transferring to the Pension Plan unaffordable.)

If You Change Employers

Under the Pension Plan, if you leave FRS-covered employment and go to a non-FRS employer, your Pension Plan benefit is frozen until you return at a later date to continue your FRS-covered employment or begin receiving your early or normal retirement benefit.

Benefit Paid at Retirement

Under the Pension Plan, your retirement benefit is based on a formula comprised of your age, length of FRS service, and membership class. The amount of your benefit payments is affected by the retirement income option you choose.

Retirement Income Options

Under the Pension Plan, you may choose to receive your benefit in retirement under one of four lifetime benefit options including a 3% annual benefit increase each July (adjustment only applicable for FRS service earned prior to July 1, 2011). Option 1 provides a monthly benefit for your lifetime, but does not provide a continuing benefit to a beneficiary. Option 2 provides a reduced monthly benefit for your lifetime, with a guarantee that your beneficiary will be eligible for a continuing benefit for 10 years from the date you retire. After 10 years of retirement, no benefits are payable to your beneficiary, in the event of your death.

Options 3 and 4 provide a continuing benefit to your spouse or other dependent beneficiary who is your joint annuitant. Option 3 provides a reduced benefit to both you and your joint annuitant in the same amount for as long as you or they are living. Option 4 provides an adjusted monthly benefit for you and your joint annuitant and is reduced upon the death of either.

Pre-Retirement Benefits

In the Pension Plan, your vested benefit will be paid to your beneficiary or in accordance to Florida law if you die prior to retiring.

DROP

You may participate in the Deferred Retirement Option Program (DROP) once you have reached normal retirement age or date. See more DROP information here.

Health Insurance Subsidy (HIS)

The Health Insurance Subsidy (HIS) is a monthly supplemental payment that you may be eligible to receive if you have health insurance coverage (Cover Florida Health Care Access Program, Medicare and TRICARE coverage are accepted). This monthly payment, which you must apply for, is calculated by multiplying your total years of service at retirement (up to a maximum of 30 years) by $5. HIS is only available after you have six years of service (if enrolled in the FRS prior to July 1, 2011) or eight years (if enrolled in the FRS on or after July 1, 2011). You will receive the HIS as part of your early or normal retirement benefit after you have provided proper documentation certifying that you have health insurance coverage. The HIS subsidy, which is paid monthly, is $5 for each year of creditable service, with a minimum HIS of $30 per month and a maximum HIS of $150 per month.

Originally posted here:
FRS Programs Retirement System Pension Plan

If you have been looking for the best places to retire in Florida this website has the answers you need. Choose from almost 70 of the best places to retire in Florida that are popular with active adults 55+.

Overall Florida is where many people instinctively look for a retirement community - it probably has more retirement oriented communities than anywhere in the world. Its climate is warm all year round and you are never too far from water. Living costs can vary a great deal within the state; inland and northern towns tend to have more inexpensive options, while high-end communities like Naples have real estate prices and a significantly higher cost of living. Recreational activities are exceptional in this state with a double coastline on the Gulf of Mexico and Atlantic Ocean. The 2012 household population was 19.3 million. Median age is 40.7, several years higher than national average. This page will acquaint you with some basic facts about the best retirement places in Florida.

Best retirement towns in Florida Florida is so big that is likely to have the perfect retirement lifestyle for just about anybody. Some obvious picks include places like Venice, Key West, and Winter Park. Other towns to investigate include: Stuart, Delray Beach, Sarasota, and Gainesville. Two other popular retirement towns that are very different but close geographically are Abacoa and Vero Beach. Many people are interested in a Central Florida retirement. See our free mini-guide to The Villages (near Ocala), which is the #1 most popular active adult community at Topretirements.com. For more ideas, see the list at right.

Climate The Florida climate is characterized as humid subtropical. Summers are hot and wet, winters are warm or mild. Marine air from the Gulf of Mexico and Atlantic controls the climate. Key West is the only frost-free location in the continental U.S.

Economy and Home Prices In 2007 the Florida per capita income was $26,125, near the middle for all states. Median home value in early 2012 was $120,000, well below the national average of $145,000 (Zillow data). By way of comparison, the National Association of Realtors reports the median sales price of a home in the U.S. to be $164,500. Prices have declined drastically in Florida since 2006, particularly south Florida, where home values have been cut in half. In Cape Coral/Ft. Myers the median selling price was $190,000 in late 2014 (National Association of Realtors).

Taxes

Tax Burden:Florida's total state/local tax burden is 27th highest (Source: The Tax Foundation).

Marginal Income Tax Rates.Florida is one of the few states with no income tax, which automatically makes it a tax bargain.

Sales Tax:Sales tax is 6%, one of the higher rates compared to other states.

Property Taxes:Florida`s successful Save Our Homes law has attracted tens of thousands of permanent residents from other states. The Florida law caps increases in a home`s assessed value at 3% a year for full time residents. Local communities in Florida can change mill rates at will, but at least the most volatile component of the property tax, wild swings in appraised values, are moderated.The state is ranked 16th highest in per-capita property tax collections.

Estate and/or Inheritance Taxes.Florida does not have inheritance or estate taxes.

Linkto the Florida Department of Revenue

In 2010 the state is considering radical budget cuts to cope with budget deficits. Note: See very interesting commentary about "Save Our Homes" from OldNassau in our Forum.

Certified Retirement Communities Florida does not have a certified retirement community program.

Get started with reviews of the best retirement communities.

Reviews of best retirement cities

Park near downtown Venice FL - a popular retirement community

Click on the Florida Retirement Community reviews on the right. Or to find information about what retirement is like in different states for example to retire in Kentucky, retire in Georgia, retire in North Carolina, and retire in Tennessee.

View post:
Florida retirement guide - Find Your Best Place to Retire

This website contains information about state retirement systems in Florida, including the FRS - the fourth largest public system in the nation. You can view and print our glossary() which provides definitions to help you understand retirement terms used throughout this website.

You may also want to visit the MyFRS website, which is a cooperative website of the Department of Management Services and the Florida State Board of Administration. It is part of the MyFRS Financial Guidance Program and offers online planning models and choice tools to help employees eligible for membership in the FRS to choose between the FRS Pension Plan and the FRS Investment Plan. The website also provides access to resources available under both plans.

Click to access your 2015 Member Annual Statement

The 2015 Member Annual Statement is only available to active pension plan participants.

The FRS Pension Plan funding valuation takes place annually, available December 1st and was 86.6 percent funded, as of July 1, 2014. You can view a chart that compares the plan's actuarial liabilities to the plan's actuarial assets for the past five fiscal years. The annual benefit payments to FRS retirees and beneficiaries (shown in white on the chart) are a part of the overall plan liabilities. The market value of the total assets of the FRS Pension Plan is updated monthly and can be viewed on the MyFRS website.

You must have Internet Explorer version 7.0 or newer to access FRS Online.

Follow this link:
Retirement / Workforce Operations / Florida Department of ...

courses

This is the best first level Yoga Teacher Training Course at Mysore TTC IYT 250+Hrs. It has been training exceptional quality teachers since 2005. Yoga Alliance authorized Registered Yoga School that has trained more than 550+ teachers from 60+countries. 4 week, full day programme that is both intense and comprehensive. Yogacharya Bharath Shetty and his assisting teachers conduct teacher Training Course.

Yoga Teacher Training Course of 8 weeks full day programme intense, holistic and showcasing the Yogic way of life. Yoga Alliance authorized RYS 500 awarded on successful completion of the course. First Month covers asana technique, practice, Prayers (slokas), chanting (kirtan), Pranayama, Anatomy, Philosophy and Ethics and Spiritual Trip.

Second month focuses on advanced asana technique, practice, Prayers (slokas), chanting (kirtan), Pranayama, Anatomy, Ayurveda, Philosophy with Patanjali Yoga Sutras, Karma Yoga in Bhagavad Gita, Nirvana Shataka and Ethics,Meditation, Bandhas, kriyas, mudra and Chakras.

Yogacharya Bharath Shetty and his assisting teachers conduct teacher Training Course.

A TTC, for teachers trained under IndeaYoga system seeking personal development by deepening their own practice and reaching the next Yoga Teacher Training level. Yoga Teacher training course Advance+ aims only at teachers with RYS 200 awarded by Aananda Yoga India. A 4-week, intensive-full day Yoga Teacher Training. Core Curriculum teaches techniques of educating teachers teach their students in asana adjustments relating to Foundation, Vinyasa and Innovation. Curriculum includes Prayers, Chanting, Pranayama, Meditation, and Anatomy. Yoga Therapy, Bandas, Kriya, Mudras and Philosophy-Patanjali Yoga Sutras, Karma Yoga in Bhagavad Gita, AtmaNivanaShataka. Yoga Alliance authorized RYS 500 awarded on successful completion of the course.

Yogic tradition says 8.4m species in the world have one asana for each; the Foundation series focuses on 83 important asanas. Hatha yoga is a set of physical exercises (known as Asanas or postures), and sequences of Asanas. Hatha Yoga helps understand the mechanics of the body and drive one's energy in specific directions. Designed to open the many channels of the body it eases the process of human growth.

At Aananda Yoga India, Yogacharya Bharath Shetty combines Ashtanga yoga, Iyengar yoga and Sivananda yoga systems and trains to prepare the body to ease out the process of human growth.

A dynamic personalized practice that develops an intelligent and systematic self-practice of Ashtanga, Innovation combined with Satsang for the practitioner. Yogacharya Bharth Shetty will lead through the power of flow yoga with series of poses that moves one through the power of inhaling and exhaling. Providing both physical and mental benefits Ashtanga Yoga Mysore Style classes will develop an intelligent, systematic and self-practice regime that would help yoga practitioner.

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Yoga Teacher Training

How It Works

Workout fads come and go, but virtually no other exercise program is as enduring as yoga. It's been around for more than 5,000 years.

Yoga does more than burn calories and tone muscles. It's a total mind-body workout that combines strengthening and stretching poses with deep breathing and meditation or relaxation.

There are more than 100 different forms of yoga. Some are fast-paced and intense. Others are gentle and relaxing.

Examples of different yoga forms include:

The intensity of your yoga workout depends on which form of yoga you choose. Techniques like hatha and iyengar yoga are gentle and slow. Bikram and power yoga are faster and more challenging.

Core: Yes. There are yoga poses to target just about every core muscle. Want to tighten those love handles? Then prop yourself up on one arm and do a side plank. To really burn out the middle of your abs, you can do boat pose, in which you balance on your sit bones and hold your legs up in the air.

Arms: Yes.With yoga, you don't build arm strength with free weights or machines, but with the weight of your own body. Some poses, like the plank, spread your weight equally between your arms and legs. Others, like the crane and crow poses, challenge your arms even more by making them support your full body weight.

Legs: Yes. Yoga poses work all sides of the legs, including your quadriceps, hips, and thighs.

Glutes: Yes. Yoga squats, bridges, and warrior poses involve deep knee bends, which give you a more sculpted rear.

Back: Yes. Moves like downward-facing dog, child's pose, and cat/cow give your back muscles a good stretch. It's no wonder that research finds yoga is good for relieving a sore back.

Flexibility: Yes. Yoga poses stretch your muscles and increase your range of motion. With regular practice, they'll improve your flexibility.

Aerobic: No. Yoga isn't considered aerobic exercise, but the more athletic varieties, like power yoga, will make you sweat. And even though yoga is not aerobic, research finds it's just as good as aerobic exercise for improving health.

Strength: Yes. It takes a lot of strength to hold your body in a balanced pose. Regular practice will strengthen the muscles of your arms, back, legs, and core.

Sport: No. Yoga is not competitive. Focus on your own practice and don't compare yourself to other people in your class.

Low-Impact: Yes. Although yoga will give you a full-body workout, it won't put any impact on your joints.

Cost. Varies. If you already know your way around a yoga mat, you can practice for free at home. Videos and classes will cost you various amounts of money.

Good for beginners? Yes. People of all ages and fitness levels can do the most basic yoga poses and stretches.

Outdoors. Yes. You can do yoga anywhere, indoors or out.

At home. Yes. All you need is enough space for your yoga mat.

Equipment required? No. You don't need any equipment because you'll rely on your own body weight for resistance. But you'll probably want to use a yoga mat to keep you from sliding around in standing poses, and to cushion you while in seated and lying positions. Other, optional equipment includes a yoga ball for balance, a yoga block or two, and straps to help you reach for your feet or link your hands behind your back.

There are many types of yoga, from the peaceful hatha to the high-intensity power yoga. All types take your workout to a level of mind-body connection. It can help you relax and focus while gaining flexibility and strength. Yoga can also boost your mood.

Even though there are many instructional books and DVDs on yoga, it is well worth it to invest in some classes with a good instructor who can show you how to do the postures.

Chances are, there's a type of yoga that suits your needs and fitness level. It's a great choice if you want a holistic approach to mind and body strength.

Yoga is not for you if you like a fast-moving, competitive workout. Be open-minded, since there are physical and mental benefits you can gain by adding some yoga into your fitness plan, even if it isn't your main workout.

Is It Good for Me If I Have a Health Condition?

Yoga is a great activity for you if you have diabetes, high blood pressure, high cholesterol, or heart disease. It gives you strength, flexibility, and mind-body awareness. You'll also need to do something aerobic (like walking, biking, or swimming) if you're not doing a fast-moving type of yoga.

If you have high blood pressure, diabetes, or heart problems, ask your doctor what you can do. You may need to avoid certain postures, like those in which you're upside down or that demand more balance than you have right now. A very gentle program of yoga, coupled with a light aerobic activity like walking or swimming, may be the best way to start.

Do you have arthritis? Yoga can help you stay flexible and strong without putting added stress on your joints. You get the added benefit of a mind-body approach that can help you relax and energize.

If you're pregnant, yoga can help keep you relaxed, strong, and in shape. If you're new to yoga, let your doctor know you want to give it a try. Look for an instructor who's experienced in teaching prenatal yoga.

You'll need to make some adjustments as your baby and belly grow and your center of gravity shifts. After your first trimester, dont do any poses that have you lying on your back. And dont try to stretch any further than you did before pregnancy. Your pregnancy hormones will loosen up your joints and make you more likely to get injured.

While you're pregnant, avoid postures that put pressure on your belly or low back. Don't do "hot" yoga, where the room temperature is very high.

Read more from the original source:
Yoga: Benefits, Intensity Level, and More