Best Personal Financial Planning and Personal Investment
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Carnival of Financial Planning - Edition #162
- October 22,
2010
Welcome to the October 22, 2010 Edition #162 of the Carnival
of Financial Planning.
The Carnival of Financial Planning takes a
long-term view of personal
financial planning for individuals and families. We focus on efficient
and sustainable personal financial planning practices that can lead to
lifetime financial security.
This edition
is arranged by subject
heading, so that you can browse efficiently.
Enjoy!
The Skilled
Investor, Editor
Budgeting and Economics
Jessica Bosari presents Are You Saving Money or Just Spending Less? Why You Need to Do Both | billeater.com posted at Billeater, saying, "The difference between saving and spending less, why you need to do both."
Silicon Valley Blogger presents How To Book Cheap Flights & Air Travel Deals posted at The Digerati Life, saying, "Some ideas for smart shopping and finding good deals for airline flights."
The Skilled Investor presents Save More posted at Personal Financial Strategy,
saying, "Budgeting and self-control in
consumption is far more important than clever investing. Expenditure
control and budgeting works, while "clever"
investing usually is counter-productive."
Roshawn Watson presents Economists Blame ME for the Slow Recovery posted at Watson Inc,
saying, "We are responsible with our money, yet instead of admiration
(or even understanding), these efforts garner contempt as the frugal
once again get the blame for dismal economic activity."
Jeff Rose, CFP presents Prepaid Services Worth Having posted at Jeff Rose,
saying, "Prepaid services, in some cases, can save you money, providing
you with a discounts, or guaranteeing you lower prices down the road.
Here are a few prepaid services that are worth it."
Financial Planning
freefrombroke presents Guaranteed Ways To Lower Your Credit Score – 5 Steps posted at Free From Broke,
saying, "It seems some people are in self-destruct mode with their
credit. So here are 5 ways to make it easier to destroy your credit
score."
Dividend Tree presents Building
Core Competency for Long Term Survival posted at Dividend Tree,
saying, "whether it is running a business or individuals investment
portfolio, it is important to build a core competency for long term
sustainability. In my case, I focus on good quality companies that
consistently pay or have potential to pay growing dividends over
time.
Daniel M. Wood presents How to Set Goals That Will Make You Rich posted at Looking to Business,
saying, "To succeed, you need to know what you consider success. To be
truly happy about where you are and where you are going, you need to
know what your dreams are.
Setting clear goals in writing is a great way to get clarity, focus and
motivation."
FMF presents Credentials versus Accomplishments posted at Free Money Finance, saying, "When you hire a financial planner, which matters more, credentials or accomplishments?"
Tom Bills presents Tips to Avoid Financial Strain with Aging Parents posted at In-LawSuite.com,
saying, "Caring for aging parents is an emotionally taxing experience
for their children. In addition to the emotional strain, financial
strain can also be experienced. However, there are some easy steps that
can help to reduce this strain and prepare for the future financially."
jim presents Should I Change My Social Security Number? posted at Identity Theft Wall.
Sustainable Life Blog presents Prioritizing Goals? posted at Sustainable Life Blog,
saying, "Wondering where to turn when starting to attack debt? Here's a
quick guide on how to help you prioritize your goals."
The Financial Blogger presents A Day As A Financial Planner posted at The Financial Blogger, saying, "A look at the work involved with being a financial planner."
Larry Russell presents Best No
Load Mutual
Funds posted
at Best Index Mutual Funds, saying, "Superior past
performance has simply not been shown to be a reliable
predictor of superior future performance. However, low costs can lead
you to the best mutual funds.
PT presents Meeting with a Fee-Only Certified Financial Planner, Part 1: Finding an Advisor and Gathering Info posted at Prime Time Money, saying, "My experience meeting with a CFP."
Frank Knight presents Asset Allocation Strategy posted at Best Personal Financial Planning Software,
saying, "When you are already there and invested in an asset class, you
are following a passive asset allocation strategy. Tactical asset
allocation strategy advocates suggest that you can anticipate the crowd,
but flow-of-funds studies show that almost all tactical asset
allocation fund flows are late money flows that chase performance after
valuations have already moved."
Financing Education
FMF presents Examples of How to Pay for College Without Borrowing posted at Free Money Finance,
saying, "Want to know how to attend college without incurring debt?
This post offers two real-life suggestions for doing just that!"
Ben presents 529 College Savings Plan Parent Overview posted at Money Smart Life.
Praveen presents Is The Education Market The Next Credit Bubble? posted at My Simple Trading System, saying, "How educational loans appears to be a bubble like mortgages."
Ryan @ MFN presents Can You Get a Montgomery GI Bill Refund? posted at The Military Wallet,
saying, "The Montgomery GI Bill is usually a use it or lose it benefit.
But some veterans may now be eligible to receive a refund on their
MGIB."
Income
MoneyNing presents 15 Ways to Earn Extra Money posted at Money Ning, saying, "There are lots of ways to make more money. Here are 15 to start you off."
Health Care
MoneyNing presents 10 Hassle Reducing Tips for Dealing with Insurance on Medical Care posted at Money Ning, saying, "Who doesn't want to save some money and time dealing with health insurance?"
Ryan @ MFN presents Get a Free Flu Shot from the VA posted at The Military Wallet, saying, "Military veterans are eligible for a free flu shot from their local VA. Thanks for your service!
Investing
passive family income presents What does Dividend Yield Mean and How do I Calculate it? posted at Passive Family Income,
saying, "There are plenty of financial ratios that can be used by
investors to help determine the value of a stock. Sometimes these
calculations can tell us when it is time to buy a stock, while other
times they signal it is time to sell a position. There are plenty of
commonly used calculations, such as the price to earnings ratio, which
can be used to evaluate any type of security. In other cases there are
specific ratios geared towards a certain investment strategy, like
dividend investing."
Intelligent Speculator presents Including international exposure in your investments posted at Intelligent Speculator, saying, "An interesting situation involving international risk."
The Financial Blogger presents The First Time Is Always The Worst posted at The Financial Blogger, saying, "A tale of an investment gone wrong the first time.
Ryan @ CML presents Invest in Gold, Silver or Precious Metals? posted at Cash Money Life,
saying, "Gold and other precious metals are at or near record highs.
Should you invest in gold, silver, and other precious metals?"
Praveen presents Caveat
Emptor: If An Investment or Opportunity Appears Too Good To Be True,
Beware! posted at My Simple Trading
System, saying, "Beware of investment opportunities that seem to be
too good to be true."
Tushar Mathur
presents Can't
Control the Markets? Try controlling the Costs posted at Everything Finance,
saying, "The financial markets are prone to
unpredictable periods of turbulence. That can make investing feel a bit
like a roller-coaster ride. The disappointing results may have left you
feeling concerned over your financial future. You're not alone."
Dividend Tree presents Dividend
Investing and Businesses with Moat posted at Dividend Tree,
saying, "In general, companies with moats in their business are very
good dividend growth providers. However, the opposite may not be true."
Frank Vertin presents Top Index Funds
posted at Index Mutual Funds, saying, "Top ten no
load index funds that track the Standard
and Poors 500 composite index in terms of lowest costs.
mike presents 6 Reasons For Not Reinvesting Dividends posted at Mike, saying, "Reinvesting dividends is a good strategy, but consider the alternatives as well."
The Skilled Investor presents Stock Market
Timing posted at Personal Investment Management,
saying, "Always stay invested to earn risk
premiums. You must have your money invested and at risk
to get risk premium returns. Jumping out and in or "timing the markets"
doesn't work."
Intelligent Speculator presents Why I do not use intra-day stops posted at Intelligent Speculator, saying, "My rationale is explained in the article."
Silicon Valley Blogger presents Your Mutual Fund Investment Portfolio: How Many Funds Should You Own? posted at The Digerati Life, saying, "How many mutual funds should you own? Some thoughts on fund investing."
Tomas Escent presents Stock
Trader Automation posted at Nerds on Wall Street
Frank Knight presents Muni
Bond Financial Software, posted
at Best Financial Planning Software,
saying, "Municipal bond
investments and your state and federal marginal income tax rates: Some
investors hold municipal bonds in an attempt to reduce their tax
burden. This article discusses the relationships between tax-exempt
municipal bonds, bond market returns, marginal tax rates, and
investment asset tax location."
Consumer Boomer presents How to Build a CD Ladder For Maximizing Return posted at Consumer Boomer, saying, "When you ladder your CD investments, you can maximize the potential earnings. Here's how."
Dividends4Life presents 12 Stocks Sending A Strong Message With Higher Dividends posted at Dividends Value,
saying, "One of the many reasons I like dividend stocks is because
they provide continuous feedback. As time passes, dividend investors see
their income grow steadily. You don’t have to wait five to ten years to
determine if the strategy is working. Each dividend and dividend
increase provides reassurance that the strategy is working."
Managing Debt
David presents 7 of the Best Airline Miles Credit Cards posted at Credit Card Offers IQ.
Tom @ Canadian Finance Blog presents Top 15 Credit Card Blunders posted at The Canadian Finance Blog,
saying, "A credit card is a necessary evil in the modern world.
Luckily, all you need to do to avoid problems is follow a few simple
rules."
Joe Plemon presents How to Avoid Christmas Debt Without Becoming a Grinch … 12 Great Tips posted at Personal Finance By The Book,
saying, "Piling up debt in order to celebrate the birth of Christ
doesn't add up. These tips will help your Christmas season be a true
celebration."
Tim Chen presents 5 Reasons To Avoid Amex Blue Cash posted at NerdWallet Blog - Credit Card Watch,
saying, "Savvy consumers are drawn to this card because it has no
annual fee, while offering an unparalleled 5% back on gas and groceries,
and 1.25% elsewhere, after you spend $6,500 per year. And while these
rewards do add up for most cardholders, there are a few "catches" to be
aware of."
Roshawn Watson presents Why
Is Debt Really Decreasing? posted at Watson Inc, saying,
"In the first quarter of 2008, our debt to disposable income peaked at
a staggering 131%. This means for every dollar we earned, we spent
$1.31. As of March, our debt as a share of our annual income is
presently 122%. If you think this change indicates that we have
collectively been so scarred by the "Great Recession" that we are now
behaving fiscally responsible, think again. There is a surprising and
sad reason why our debt has gone down. Hint, it has nothing to do with
frugality."
CreditShout Kevin presents How to Cancel Recurring Credit Card Payments posted at CreditShout, saying, "Here is how to cancel those pesky reoccurring charges on your credit card once and for all!"
Sam presents What You Absolutely Must Know About Bankruptcy Before You File posted at Surfer Sam and Friends,
saying, "Thanks for including my article. Here's an excerpt...
What you absolutely must know about bankruptcy before you file. Chapter
7? Chapter 11? Bankruptcy will eliminate some of your debts, but make
sure you know your rights. Find out which debts will be wiped out and
which will remain."
Big Cajun Man presents Found
Money Trap posted at Canadian
Personal Finance Blog, saying, "Found money should go on
debt no matter what!"
Jeff Weber presents Avoid Balance Transfer Mistakes posted at Smart Balance Transfers,
saying, "Balance transfers can be extremely effective in managing debt.
However, a simple mistake like a missed payment can terminate the 0%
interest rates that make these transactions worthwhile."
The Smarter Wallet presents Are
Debt Counseling Services The Way To Debt Relief? posted at The Smarter Wallet,
saying, "On debt counseling services."
Mike @ Green Panda presents Four Reasons Why YOU Are Broke posted at Green Panda Treehouse, saying, "It’s now time that you take full accountability for your finances."
Miscellaneous
Joe Plemon presents How to Share Financial Responsibility with Your Spouse posted at Personal Finance By The Book,
saying, "Although sharing financial responsibility with your spouse is a
huge part of a successful marriage, it is an aspect far too often
overlooked. These guidelines will not only help your finances; they
will help your marriage."
MoneyNing presents Can You Be Rich and Miserable? posted at Money Ning,
saying, "It is easy to feel miserable no matter how much money you
have, but do you get more upset when you see someone who has a load of
money but can't find happiness?"
nissim ziv presents How to Present Yourself in an Interview and Impress the Interviewer? posted at Job Interview Guide,
saying, "When you are in the process of preparing yourself for your job
interview, one of key prep steps is practicing your interviewing
performance and reshaping your presentation level in order to create the
best positive impression on the interviewer."
Pasadena Financial Planner
presents Vanguard's
Investment Performance posted at Top Mutual Funds,
saying, "Compares Vanguard's actively managed
mutual funds and Vanguard's
passively managed index mutual funds. Vanguard investors should read
and understand this study."
Sam presents Investing in Silver posted at Surfer Sam and Friends,
saying, "Thanks for including my article on how to invest in silver.
There's an excerpt...
Silver and other precious metals are popular investments. Bullish
investors have moved into silver with enthusiasm. They know that silver
is important in industrial manufacturing, and jewelry. But the
attraction of silver in these uncertain times is its use as a hedge
against inflation, deflation and currency devaluation. Massive
government deficits, and loose money policies have put the U.S. currency
under pressure. To protect one's wealth from inflation, market bubbles,
increasing taxes, a pension crisis, budget deficits, trade deficits,
the debt mountain, financial scandals, and weak currencies, investors
move into gold and silver. The more money that is pumped into the
economies, the more money that is issued, then the less valuable the
U.S. dollar becomes. Investors look for alternative investments to
protect themselves against the depreciating value of money. One silver
bull exaggerated, "None of these currencies are worth anything. We have
printed money like drunken sailors and that leads to inflation.""
Retirement Planning
Super Saver presents Retiree Financial Lessons from the Recession posted at My Wealth Builder,
saying, "Although I wish this recession had not happened, I am glad
that it happened early in our retirement, while we were better able to
meet the financial challenges. Also, we learned the following lessons,
which I'm sure will continue to help us through out our retirement
years."
The Financial Blogger presents Where Will Your Retirement Income Come From? posted at Do Not Wait, saying, "For most mere mortals, the question that begs to be asked is: where will your retirement income come from?"
Ryan @ CML presents How to Make a 401k Hardship Withdrawal posted at Cash Money Life, saying, "Tips on how to make a hardship withdrawal from your 401k, and why to avoid it if possible!"
Jeff Rose, CFP presents QDRO and Your 401k or Pension Plan posted at Jeff Rose,
saying, "Here's an article you don't want to miss. Find out some
important facts about your 401k or pension plan and your beneficiaries."
Mike @ Green Panda presents Retirement Planning When You are in your 20s posted at Green Panda Treehouse,
saying, "We should all consider retirement planning as soon as
possible. Ideally, your retirement plan should start as early as you
when you land your first job… while still in school."
Jules Wells presents Retirement Planning Calculator-Retirement
Savings Software,
posted at Retirement Income Planning,
saying, "This article helps you understand the trade-offs
between traditional and Roth tax-advantaged
retirement plan
contributions,
including Roth 401k and IRA retirement plans. It helps with the 2010
Roth conversion decision."
Larry Russell presents Roth
IRA Conversion posted at Personal Financial
Planning Software, saying, "Trying to decide about
a traditional IRA to Roth IRA conversion without first having a
comprehensive lifetime financial plan in place makes absolutely no
sense. Without such a plan, you cannot figure out whether or not you
are likely to achieve the tax savings in retirement that would warrant
paying higher taxes now."
Mike Piper presents Types of Annuities: Annuity Definitions posted at The Oblivious Investor,
saying, "What are the differences between the various types of
annuities? Which ones are useful, and which ones are a raw deal?"
Walter W. Fouse presents Top Ten Large Cap Core Mutual Funds posted at Best No Load Funds,
saying, "This table of low cost top 10 S&P 500 mutual funds has
been organized with the lowest cost index fund first. Nevertheless, each
of these S & P 500 index funds is among the least costly on the
market."
Frank Knight presents Roth
IRA ConversionFinancial Planning Software posted at My Financial Freedom Plan,
saying, "Whether to invest in a
Roth IRA or Roth 401k versus their traditional
retirement account alternatives is one of the most complex
personal financial decisions. Roth accounts do not
make sense financially for most people. They are a good deal, for a
minority, but you
need to do the analysis.
Risk Management and Insurance
Marvin Grossman presents That's gross! Why home insurance won't pay for disgusting problems posted at Insure.Com Home Insurance Articles, saying, "Rats, mold, bed bugs? Here's why home insurance won't pay, and some exceptions to the rules."
Consumer Boomer presents Term Life Quotes posted at Consumer Boomer,
saying, "When you purchase an insurance policy it is important to know
exactly what you are buying. Here is some important information about
Term Life quotes."
Super Saver presents Why My Car Insurance Premium is Really Low posted at My Wealth Builder,
saying, "I pay $267 a year for my car insurance. There are two types of
reasons for my insurance being low: situational factors and price
discounts."
Big Cajun Man presents Self
Insured Company Disability Plans posted at Canadian Personal Finance Blog,
saying, "Sometimes insurance is not as safe as you might think (in
Canada at least)"
Jules Wells presents Investment Risk Tolerance Questionnaire Financial Planning Software,
posted at Financial Answers saying, "There is a way for you to get a much better assessment of your
risk tolerance than you would from a simple conservative versus
aggressive financial industry investor questionnaire."
Savings
KCLau presents Are You
Rich in Internal Assets? posted at KCLau's Money Tips,
saying, "pay attention to the internal assets."
Taxes
Madison DuPaix presents How to Save on Taxes This Year posted at My Dollar Plan,
saying, "With 4th quarter here, it is time for a reminder on some tax
saving strategies, some of which will expire this year. Read on to find
out how to maximize savings before the end of the year."
Super Saver presents Qualifying for Money Giveaways from the Government posted at My Wealth Builder,
saying, "Since retiring in October 2007, our taxable income is much
lower. We now qualify for a number of tax credits that we weren't
eligible for in the past."
David de Souza presents 5 Steps To Getting A Tax Rebate posted at UK Tax Blog, saying, "Are you due a tax rebate? Our guide will help you claim your tax refund"
Ryan @ MFN presents Challenge Property Taxes posted at The Military Wallet, saying, "Tips on how to successfully challenge your property tax assessment to lower your property tax bill."
pfstock presents Update on Verizon Frontier Spin Off posted at PFStock.com,
saying, "This post is a follow up to a previous post:
http://www.pfstock.com/2010/07/frontier-communications-ftr-new-stock.html
I
explain how to calculate the tax basis of an investment after a
spin-off, such as the spin off of Frontier Communications from Verizon."
Financial Freedom presents Roth
IRAFinancial
Software, posted at Financial Freedom, saying, "The Roth tax
optimization puzzle for asset conversions, as well as for annual Roth
contributions during working years, is one of the most complex
decisions that the ridiculously complex US taxation and retirement
planning system forces upon individuals."
That concludes this edition. Submit your blog article
to the next edition of Carnival of Financial Planning
using our carnival submission form. Past
posts and future hosts can be found on our blog carnival index page.
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