Carnival of Financial Planning - April 19, 2007 Edition
Welcome to the April 19, 2007 edition 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.
We would like to call your attention to several articles:
1) In the estate planning category, you will find an article by Pushpa Sathish on the apparently low quality of Anna Nicole Smith’s estate planning: 15 Financial Lessons from the Demise of Anna Nicole Smith (Yes, I’m Serious). While preparing for one’s demise is not high on anyone’s list, do you really want leave a financial mess for your family when you die? Proper estate planning with a competent estate attorney can prevent large and small messes. Your financial affairs might not be confused as Anna Nicole’s, but if you neglect estate planning your friends and relatives may need a big broom and a lot of patience after you leave us. Furthermore, your hard earned money may not go to the people you prefer.
2) In the retirement section, Super Saver discusses the impact of inflation on personal financial planning objectives that are decades into the future: The Impact of Inflation. Super Saver provides some charts indicating the equivalent future nominal dollar income levels that are required to match current income levels, after the compounding effects of 3% or 5% annual inflation are included in the numbers. These nominal dollar numbers look very large, however that is only because most people are not very good at doing compound growth calculations in their heads. Nor should they have to extract inflation from projections, when computers can do this with such ease. If you are evaluating any future planning projections, you should always use “real dollar” values with inflation extracted. If you project your nominal assets to grow at inflationary rates, you might think you are going to be rich. You won’t think so in fifty years if a loaf of bread costs fifteen bucks, and your planning did not take that into account.
3) In the savings section, Wenchypoo hits the economics of buying food in Dollar Stretcher TNG–The Next Generation (L-O-N-G). All investing for your long-term financial planning objectives must start either with a higher paycheck and/or greater expenditure control to increase your savings rate. Most people cannot count on increasing their earned income, so they must find more savings through better decision making at the numerous checkout stands they encounter every day. Wenchypoo raises questions about whether we can save more at the grocery store checkout stand, while we simultaneously put better quality food ingredients into our bodies and cut environmental waste.
-
Budgeting and Expenditure Control
Rich presents 101 Ways to Save One Dollar a Week posted at Care on Credit.
Sagar Satapathy presents The Shopaholic’s Guide to Getting your Expenses under Control posted at Debt Consolidation Lowdown.
-
College Savings
Ted Reimers presents 10 Tips on How to get a College Scholarship posted at CampusGrotto, saying, “College Loans are a major cause of Debt. Here are some tips on how you can get free money for college in the form of scholarships.”
-
Estate Planning
Pushpa Sathish presents 15 Financial Lessons from the Demise of Anna Nicole Smith (Yes, I’m Serious) posted at Credit Card Lowdown.
-
Financial Planning
ISPF presents 5 Questions You Should Ask Yourself before Loaning Money to Friends or Relatives posted at Grad Money Matters.
Tushar Mathur presents Best Kept secrets of financial planning posted at Life of a Resident Alien….
-
Investing
Web Financial Planner presents Web Financial Planner - WebCFP - Objective investment advice: the “Merrill Rule” eliminated posted at Web Financial Planner.
On the same subject, The Skilled Investor presents SEC’s “Merrill Lynch Rule” Struck Down by the US Court of Appeals posted at The Skilled Investor. This article provides some background on this important ruling in favor of clarifying the roles and regulation of brokers and financial advisors.
David presents Achieve Success with Your Investments posted at Worldwide Success.
-
Managing Debt
Abdulrasool Sumar presents Importance of Your Credit Rating & FICO Score posted at 3 Debt Consolidation Community, saying, “How Credit Bureaus measure your credit score, from R0 (newbie to the Credit world) to R9 (defined any future credit). Article also explains the components of your credit score and the impact of your Credit Score on monthly mortgage payments.”
Amy Pedersen presents Fair Isaac Corporation, What a Wacky Bunch of Statisticians Dedicated to Credit posted at Your Credit Score Secrets, saying, “Credit Cards, Credit Reports and Credit Scores. These terms are not exactly new to any of us. Neither are the implications when our own cards, reports or scores are not at their “best”. Credit scoring, first created by a group of wacky statisticians at the Fair Isaac Corporation, affects everyone out there at some point or another.”
-
Retirement Planning
Super Saver presents The Impact of Inflation posted at My Wealth Builder.
vause presents Ten Financial Commandments Part I posted at Active Duty Military Money and Matters, saying, “This is good first five list on how to live and plan for the future.”
living almost large presents Counting on a Pension? posted at Living Almost Large, saying, “Are you counting on a pension not may not be there?”
-
Savings
Wenchypoo presents Dollar Stretcher TNG–The Next Generation (L-O-N-G) posted at Wisdom From Wenchypoo’s Mental Wastebasket, saying, “Learning to save money and control expenses at home leads to more money freed up for investing. Food is one of the big black holes our money falls into–”things” is the other one. Saving to invest starts at home.”
-
Tax Planning
WBL presents Save On Taxes Through Income Splitting posted at Wealth Building Lessons.
That concludes this edition. Thank you very much for visiting us.
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.
Technorati tags: carnival of financial planning, blog carnival.
No comment yet