Best Personal Financial Planning and Personal Investment Articles this Week from Personal Finance Blogs
Carnival of Financial Planning - Edition #149 - July 9, 2010
Welcome to the July 9, 2010 Edition #149 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
Super Saver presents Living on a Cash Basis was a Good Experience posted at My Wealth Builder, saying, “Living on a cash basis quickly taught me financial responsibility.”
Learn Save Invest presents The Best Financial Advice posted at Learn Save Invest.
KCLau presents Global Spending: How People Spend their Money posted at KCLau’s Money Tips, saying, “Results from a World Bank study entitled Global Purchasing Power Parities and Real Expenditures 2005 International Comparison Program spanning 2003 to 2008.”
Andrew Syrios presents A Second Mortgage Meltdown? - The Ticking Time Bomb of Shadow Inventory | SwiftEconomics.com posted at SwiftEconomics.com.
The Skilled Investor presents Save More Money posted at Personal Finance 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 Will the Economy Collapse In 2011? posted at Watson Inc, saying, “With the steep increases in federal, state, and local taxes scheduled for next year, will economic activity be stifled to the point of economic collapse in 2011?”
Craig Ford presents YNAB Review (You Need A Budget 3) | Finance Software Review posted at Money Help For Christians, saying, “A review of my experience with You Need A Budget software.”
Sustainable Life Blog presents Cash Flow posted at Sustainable Life Blog, saying, “Tips on how to manage cashflow.”
The Financial Blogger presents Why The Loonie Is As Strong as a Bear? posted at The Financial Blogger, saying, “It has been more than a year that our Canadian Loonie has been beating on the greenback and we have now reached the moment when most economists predictions will become reality: the elusive state of parity between the Canadian and US dollar.”
Estate Planning
Jeff Rose, CFP presents Should You Do a Will or a Living Trust? posted at Jeff Rose.
Jeff Rose, CFP presents Understanding Inheritance Taxes posted at Jeff Rose, saying, “In the event you are in direct line to inherit an estate, you need to be tax conscious of what inheriting the estate can mean to you. How much federal tax you pay on inheriting estate has much to do with the amount of the estate and your relationship to the recently deceased.”
Financial Planning
Intelligent Speculator presents Dream lifestyle thanks to passive income? « Intelligent Speculator posted at Intelligent Speculator, saying, “the ultimate feeling of liberty when you do what you love, make decent money out of it, can go on vacations or take a break for a day or a week without asking for permission.”
jim presents How Long Should I Keep Financial Documents? posted at Blueprint for Financial Prosperity
Joe Plemon presents Which Comes First: Earning or Saving? posted at Personal Finance By The Book, saying, “The number one financial principle is to live on less than you earn. Right? Or do you need to get those earnings up first? This post helps the reader think it through.”
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.
Mike @ Green Panda presents Prioritizing Financial Goals posted at Green Panda Treehouse.
Hussein Sumar presents Three Reasons Why You Should Sell a Dividend Stock posted at Dividend Stocks, saying, “Sometimes a dividend paying stock that you own may be taken over with hostility by another company and current management is replaced with new management, whom you do not really know very well. Or, the company may be making mergers & acquisitions thus increasing their long term debt beyond levels you do not like. Another reason could be the industry the company operates in is undergoing major change or extinction, for instance Verizon at one point in time was considered a doomed company because of its landline business.”
Frank Knight presents Roth IRAFinancial Software posted at 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.”
Susan Howe presents 10 Steps Everyone Should Take to Prepare for Their Own Demise posted at The Budget Life Blog, saying, “No one likes to think about dying, but it’s something that we all experience, and ignoring it won’t make it any easier. And, while it probably won’t be any walk in the park for you, remember that your loved ones will be also profoundly affected by your passing. Here are 10 things you can do to prepare for when you finally cash in your chips.”
Larry Russell presents No Load Mutual Funds posted at Top 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.
Financing a Home
Ryan @ CML presents Mortgage Prequalification vs. Preapproval posted at Cash Money Life, saying, “What is the difference between mortgage preauthorization, prequalification and preapproval?”
mike presents Primary Residence as Your “Best Investment” posted at Mike, saying, “Is your house a good investment?”
Financing Education
MoneyNing presents How to Use a 529 Plan to Improve College Savings posted at Money Ning, saying, “A 529 plan can help your college savings tremendously. Check out how the government can help contribute!”
Jena Ellis presents 10 Ways to Pay for College posted at Online Certificate Programs.
Health Care
Madison DuPaix presents Flexible Spending Account Changes on the Way posted at My Dollar Plan, saying, “This is a great article on the changes coming to Flexible Spending Accounts as a result of the new health care bill.”
Income
Mike @ Green Panda presents 10 Promising Sectors for the Next Decade posted at Green Panda Treehouse, saying, “Choosing your career at the age of 20 is not an easy thing.Which jobs will be paid well by employers for the next 10 years? Here are my top ten picks (in no particular order) of the best sectors”
Susan Howe presents Warren Buffett on the Lottery of Birth posted at Get Rich Slowly, saying, “Before you enter the world, you will pick one ball from a barrel of 6.8 billion (the number of people on the planet). That ball will determine your gender, race, nationality, natural abilities, and health. This is what Buffett calls the ovarian lottery. “You’re going to get one ball out of there, and that is the most important thing that’s ever going to happen to you in your life.””
Consumer Boomer presents Finding a High Interest Savings Account posted at Consumer Boomer.
Investing
BWL presents A Few Different Ways of Investing Money posted at Christian Personal Finance, saying, “If you have a few extra dollars lying around in your budget after you pay all your bills and do some basic saving, you may be wondering what to do next. You may even hear your friends or colleagues talking about investing…”
Mike Piper presents Morningstar Stars: Are Mutual Fund Star Ratings Any Use? posted at The Oblivious Investor, saying, “Find out what Morningstar says about the purpose of their famous star ratings. Are they useful for predicting future performance?”
Praveen presents CBOE Just Had Its IPO: Why I Bought The Stock posted at My Simple Trading System, saying, “An investing system for IPOs.”
jim presents Goldline Scam posted at Blueprint for Financial Prosperity, saying, “Goldline has been in the news alot as gold prices continue to soar and legislators, specifically Anthony Weiner of NY, taking a look at their business practices. This begs, the question, is investing in gold through Goldline a scam?”
Zach Scheidt presents Express IPO Looks Good for a Bounce posted at ZachStocks, saying, “Express Inc. (EXPR) has traded down since its IPO earlier this month. The company is still primarily owned by a private equity firm who has a vested interest in making sure the stock price is stabilized.
Silicon Valley Blogger presents Lending Club Investment Performance, Loan Returns: Should You Invest Via Direct Lending? posted at The Digerati Life, saying, “On lending club investments and loan returns.”
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.”
Marc Ryan presents Manifesto for a new approach to investing by Paul Woolley - IndependentInvestor.info posted at IndependentInvestor.info, saying, “On May 25th, 2010, respected academic and ex-financier Paul Woolley gave a seminal lecture at the London School of Economics. He laid out policies designed to dramatically increase investment returns of the world’s biggest public pension and charitable funds combined with such social gains as more financial system stability, faster economic growth, and a less bloated and less exploitive banking and financial system .Although targeted at giant funds, you should become familiar with the manifesto since, in our opinion, several aspects could also help individual investors in managing their own portfolios.”
Barb presents MBA Course: Investing & Portfolio Management-Class 4 -Get Rich by being Passive posted at Barbara Friedberg Personal Finance, saying, “Lean about investing from an MBA professor. Save time - get rich through passive investing”
Carlos Sera presents A Competitive Tale; Financial Tales posted at Financial Tales, saying, “In every new client relationship the conversation always turns to how will the advisor be compensated? Periodically I am asked why I or others don’t charge clients based on the profits that we generate. When they ask me this question I always ask them to choose between two colors. I ask them which is their favorite black or red. When they look at me quizzically”
Praveen presents Lichello’s AIM System posted at My Simple Trading System, saying, “A look at Robert Lichello’s AIM stock investing system, which was popular in the 1970’s and then went out of style.”
June Tree presents ShareBuilder Review: Discount Broker For Buy and Hold Investors posted at The Digerati Life, saying, “Review of a top online broker that’s great for small investors.”
Tomas Escent presents Stock Trading Automation posted at Nerds on Wall Street
Zach Scheidt presents Solar Selloff Close To Exhaustion? posted at ZachStocks, saying, “Solar stocks are off sharply due to Euro-Zone concerns. Trina Solar could end up being an exceptional value if earnings remain somewhat stable and management is able to calm investor fears.”
mike presents Low Cost Ways To Buy Dividend Stocks posted at Mike, saying, “How to save money on stock purchases.”
Frank Knight presents Municipal Bond Financial Software, posted at Personal Finance 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.”
Patty Pedersen presents Sector Funds: Best, Worst, and Mid-Year 2010 Stock Market Outlook posted at AlphaProfit MoneyMatters - Investing Blog, saying, “As we cross the year’s midpoint, investor’s are focused on flat or worsening employment situation in the U. S., strained fiscal situation in Europe, and slowing growth in emerging markets. Yet, some sectors have been able to provide gains even in this crummy market. This article provides insights on whether momentum plays from the first half can continue to be top performers in the second or whether it is time for laggards to take charge.”
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 Noload Mutual Fund, saying, “Top ten no load index funds that track the Standard and Poors 500 composite index in terms of lowest costs.”
The Skilled Investor presents Market Timing posted at Investment Portfolio 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.”
Dividends4Life presents 4 Dividend Stocks Increasing Shareholder Wealth With Higher Dividends posted at Dividends Value, saying, “Dividend growth investing is a long-term strategy. A growing dividend is a sign that the company is becoming more valuable. Companies that consistently increase dividends tend to have steadily rising share prices and the best way to benefit from this is to buy and hold the stocks. Diversification and a focus on blue-chip stocks provides insurance for the few companies that don’t pan out.”
Managing Debt
FMF presents The Cruel World of Payday Loans posted at Free Money Finance, saying, “Payday loans are the worst-of-the-worst types of debt anyone can have.”
Jeff Rose, CFP presents Walk Through Debt Relief Negotiation posted at Jeff Rose, saying, “Many of the credit card lenders refuse to negotiate with debt relief representatives, beyond slight reductions of Annual Percentage Rate interest, but the number of corporations insisting upon recovering the original debt sum seemingly lessens by the day.”
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.”
The Smarter Wallet presents Are Debt Counseling Services The Way To Debt Relief? posted at The Smarter Wallet, saying, “On debt counseling services.”
Big Cajun Man presents Found Money Trap posted at Canadian Personal Finance Blog, saying, “Found money should go on debt no matter what!”
Ryan @ MFN presents Improve Your Credit Score Quickly posted at The Military Wallet, saying, “These tips will show you how your credit score is determined and give you methods for improving your credit score quickly.”
Tim Chen presents 5 Reasons To Avoid Amex Blue Cash posted at NerdWallet Blog - Credit Card Watch, saying, “The Amex Blue Cash is a card that everyone loves to love, with it’s enticing promise of 5% cash back. But there is a catch! So make sure you understand the fine print before you sign on the dotted line.”
Learn Save Invest presents 5 Steps To Debt Reduction posted at Learn Save Invest, saying, “Here are 5 tips you need to master in order to reduce your debts.”
Jessica Bosari presents Avoid Strategic Default Penalties: What You Need to do Now | billeater.com posted at Billeater, saying, “New strategic default penalties: protect yourself.”
Miscellaneous
Tom @ Canadian Finance Blog presents Privacy Benefits of Using a Prepaid Card to Shop Online posted at The Canadian Finance Blog, saying, “Using a prepaid card to shop online increases your privacy and protects your banking info compared to using a regular credit card.”
nissim ziv presents Why do you want to work for this Company? posted at Job Interview Guide, saying, “The answer to the question “why do you want to work for our company?” is a key factor (make or break) in the company’s decision as to whether one would fit the position or not.”
Joel Ohman presents What is an assigned risk auto insurance policy? posted at Car Insurance Comparison, saying, “What happens when you are considered a “high risk” driver? Can you still find car insurance? What exactly is an assigned risk auto insurance policy?”
Sustainable Life Blog presents When To Go It Alone posted at Sustainable Life Blog, saying, “When should you go it alone in personal finance? Sometimes, your friends may not always want whats in your best interest. When do you need to say “sorry guys, not this time” to spending money”
Super Saver presents Disputed Price Increase on Phone Bill and Won posted at My Wealth Builder, saying, “Last month, our phone bill was up 12%, with no changes made on our part. We disputed the increase and the phone company agreed.”
Pasadena Financial Planner presents Vanguard Investment Performance posted at Top Mutual Fund, saying, “Compares Vanguard’s actively managed mutual funds and Vanguard’s passively managed index mutual funds. Vanguard investors should read and understand this study.”
Retirement Planning
Consumer Boomer presents Roth IRA vs. 401k How to Decide posted at Consumer Boomer, saying, “Deciding whether a Roth IRA or a 401k is the better retirement account depends on your own unique situation. There is no one-size-fits-all solution for which type of retirement account is more advantageous to every person”
The Financial Blogger presents At 55 – Is it Too Late For Retirement Planning? posted at The Financial Blogger, saying, “It is never too late to start, but here are a few pointers.”
Joe Plemon presents Should You Roll Your 401(k) to an IRA? posted at Personal Finance By The Book, saying, “The accepted wisdom is that when leaving a 401(k) employer, one should roll the 401(k) to an IRA. Good advice, but not always valid.”
Super Saver presents Is $1 Million enough for Retirement? posted at My Wealth Builder, saying, “Maybe yes, and maybe no. However, it’s a good start.”
Larry Russell presents Roth IRA Conversions posted at Best 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.”
Super Saver presents Choosing a Retirement Plan posted at My Wealth Builder, saying, “I selected the defined contribution plan since there is a 140% employer match and I’m 100% vested after 5 years”
Sam presents New !! Is an Annuity Insurance Retirement Plan Best for You? Five Essential Points posted at Surfer Sam and Friends, saying, “Thanks for including my article. Here’s an excerpt… Are you afraid that you will outlive your money? Are you worried that you might lose your savings in the stock market and face retirement broke? The past few years in the stock markets have upset the retirement plans of many investors. Today, people are living longer than ever. Seniors and baby boomers are concerned that they have enough money to support them during a long life. Annuities are an investment option for these people. Annuities guarantee that you won’t outlive your income, no matter if you live 100 years or longer. Furthermore, with an annuity you do not risk losing the nest egg you have accumulated.”
Jules Wells presents Retirement Calculator-Retirement Savings Software, posted at Retirement Financial 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.”
PT presents 5 Things to Know About Roth IRA Withdrawals posted at Prime Time Money.
Risk Management and Insurance
Consumer Boomer presents How to Get Cheap Medical Health Insurance posted at Consumer Boomer, saying, “When searching for medical health insurance, it can be an overwhelming task because there is so much information from competing insurance companies. You can not sign up for insurance without carefully reviewing what the coverage entails which can take a lot of time. Health insurance is only as good as what is covered under the insurance plan. If you are looking for insurance based solely on price, you can be wasting serious money when coverage doesn’t meet your medical needs.”
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)”
Ryan @ CML presents $250 Medicare Part D Donut Hole Check posted at Cash Money Life, saying, “The $250 Medicare Part D Donut Hole Check will be reaching senior very soon Find out what it is and whether or not it will benefit you or someone you know.”
Savings
MoneyNing presents Three Frugal Recipes Everyone Can Enjoy posted at Money Ning, saying, “You can really save so much money with food by being just a little bit frugal. Here are a few recipes that you can start with.”
KCLau presents Are You Rich in Internal Assets? posted at KCLau’s Money Tips, saying, “pay attention to the internal assets”
Taxes
FMF presents Dorothy in Taxland: Tax Credits posted at Free Money Finance, saying, “Some interesting thoughts on the pros and cons of tax credits.”
Ryan @ MFN presents Homebuyer Tax Credit Extension for Military and Overseas Federal Employees posted at The Military Wallet, saying, “There is an extension to the homebuyer tax credit, which is available to military members and federal employees who live overseas.”
Financial Freedom Plan presents Roth IRA ConversionFinancial Software, posted at My 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.”
Jeff Rose, CFP presents How Does Consumer Debt Affect Your Taxes posted at Jeff Rose, saying, “How does consumer debt affect your taxes.”
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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Tags: budgeting, economics, estate planning, financial planning, financing education, income, insurance, investing, managing debt, retirement planning, risk management, taxes
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