Best Personal Financial Planning and Personal Investment Articles this Week from Personal Finance Blogs
Carnival of Financial Planning - Edition #120 - December 18, 2009
Welcome to the December 18, 2009 Edition #120 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
Roshawn Watson presents Becoming A Financial Champion posted at Watson Inc, saying, “Last week, I was counseling a college student about building a firm financial foundation. Upon reflection, here are three nuggets that profoundly changed my financial life.”
Four Pillars presents Get Out Of Debt With YNAB – You Need A Budget Financial Software Review posted at Quest For Four Pillars, saying, “Indepth review of You Need a Budget software.”
Dorian Wales presents The Dangers of Excess Frugality – Budgeting and Balanced Living posted at The Personal Financier, saying, “A more balanced life and balanced goals will help achieve inner peace and acceptance that money is truly a means and not an end. This takes work and time. I suppose on cannot escape the slippery slope I’ve presented but understanding the need for balance early on will save considerable frustration and contribute to early happiness.”
Economics
nissim ziv presents How to Get Promoted At Work posted at Job Interview Guide, saying, “Have you been working at a job for a while now and feel that it’s about time for you to get promoted? Well, that’s one part of your problem. For some reason you’ve put getting promoted on a timetable. You have to work at a company or in a certain position for a certain amount of time until you can expect to be considered for a better position, right? Wrong. Read Further”
Estate Planning
Jeff Rose presents Your Estate Planning Checklist posted at Jeff Rose.
The Financial Blogger presents Estate Planning: 5 Reasons Why You Should Have A Professional Among Your Liquidators posted at The Financial Blogger, saying, “managing an estate is more complicated than simply writing a few checks! Fortunately, for those who can afford it, you can name a professional among your liquidators.”
Jeff Rose presents What is the Purpose of a Trust? posted at Jeff Rose.
Financial Planning
The Dough Roller presents SEP IRA Contribution Limits (2009 & 2010) posted at The Dough Roller.
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.”
Super Saver presents Spending because of Stimulus Money? Not Us. posted at My Wealth Builder, saying, “Although we qualified for the Cash for Clunkers and the new Home Buyer’s Credit program, we passed on on participating, for one simple reason — if we needed it, we would have already bought it.”
Roshawn Watson presents Are Wealthy People Dishonest? posted at Watson Inc, saying, “Are the wealthy dishonest? While it is certainly a fair question, it is also a polarizing one. The typical dichotomy is that there are some who feel like there is absolutely no way for honest people to get ahead financially while the wealthy often feel maligned for their prosperity.”
Susan Saverton presents Investment Asset Allocation posted at Financial Planner Pasadena, saying, “Set your personal investment asset allocation according to your personal tolerance for investment risk. Allocated percentages to asset classes would tend to slowly change with the years, and thus it is key to decide correctly from the beginning.”
Financing a Home
Alex Fotopoulos presents When to Refinance a Mortgage? posted at My Trader’s Journal, saying, “Some key points to consider when refinancing your home.”
Roshawn Watson presents Should You Buy A House Outright? posted at Watson Inc, saying, “Suppose you find yourself in the somewhat unique predicament of having the resources to purchase your house outright without a mortgage. Is it then financially-wise to make the purchase?”
Financing Education
Praveen presents Will Education Follow the Housing Bust? posted at My Simple Trading System, saying, “Tips for students to avoid excessive loans and debt”
Angela Martin presents 100 Essential Lifehacks Every Student Should Know posted at Online Colleges.org.
Health Care
Patrick @ Military Money presents Open Enrollment Window Open for Some posted at Military Finance Network, saying, “Open enrollment is the only time of the year that many people are able to make changes to their health insurance elections. Make sure you take advantage of this time to select the best health care option for your needs.”
Jeff Rose presents What’s the Best Health Savings Plan For You? posted at Jeff Rose.
Patrick @ Cash Money Life presents Open Enrollment Health Insurance Options posted at Cash Money Life, saying, “what you need to know about the common health insurance options available from most employers during the open enrollment season.”
Income
Dividend Tree presents Three Companies with Sustainable Dividends posted at Dividend Tree, saying, “Even in soft economic environment, there are companies out there that are continuing to increase dividends for their shareholders. While dividend increase is good, it is more critical to make sure we understand that companies can sustain their dividends.”
Investing
Alex Fotopoulos presents Gold Chart (GLD) ? More Room to Fall posted at Chart Analysis, saying, “Alex posted a chart of the Gold ETF, GLD, this week and shows how much farther it could fall before finding support.”
Super Saver presents Choosing Certainty or Additional Returns posted at My Wealth Builder, saying, “Here’s how we choose between certainty and additional returns.”
Tushar Mathur presents Can’t Control the Markets? Try controlling the Costs posted at Everything Finance, saying, “As 2008 proved, 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 that many mutual funds posted in 2008 and at the outset of 2009 may have left you feeling concerned over your financial future. You’re not alone.”
Praveen presents Just Bought Hyatt Hotels (H) posted at My Simple Trading System, saying, “About Hyatt’s recent IPO and why its a good stock.”
Zach Scheidt presents Blackstone Sees Improving Trends posted at ZachStocks, saying, “The Blackstone Group, LP (BX) reported earnings and the stock is trading sharply higher. The environment is improving for the private equity company as liquidity and risk premiums increase.”
MoneyNing presents How to Get Your Wife to Invest posted at Money Ning, saying, “Talk and discuss. Learn how to get your significant other to invest!”
Darwin presents New Margin Requirements for Leveraged ETFs Whack Retail Investors but Don’t Address Ignorance posted at Darwin’s Finance, saying, “While regulators thought they were protecting investors by raising margin requirements for leveraged ETFs, they did nothing to address the underlying issue - complete ignorance of how they actually work.”
jim presents How to Determine Your Asset Allocation posted at Blueprint for Financial Prosperity.
The Dividend Guy presents I Am An Active Procrastinator posted at The Dividend Guy Blog, saying, “Procrastination is often referred to as a bad habit. However, when it comes to investing, it can be beneficial!”
20smoney presents Why Do So Few People Understand Investing? posted at 20s Money, saying, “A look at the reasons why most people fail to obtain an understanding of investing beyond the basics.”
Jules Wells presents Best Strategy for Investing posted at Personal Financial Planning Software, saying, “Investing often seems almost unfathomly complex, however your best investment strategy will tend to be a simple and straightforward investing strategy.”
Zach Scheidt presents Netsuite Investors Begin to Doubt Growth posted at ZachStocks, saying, “Netsuite Inc. (N) has seen revenue growth trend significantly lower. The cloud computing technology firm is trading at an excessive price given its growth prospects and the aversion to risk we are seeing in the market.”
The Smarter Wallet presents Scottrade Review: Best Online Brokerage posted at The Smarter Wallet, saying, “On scottrade, a popular stock brokerage.”
Frank Vertin presents Index Stock Funds posted at Best Index Funds, saying, “When you buy an S & P 500 index mutual fund through a broker or investment advisor you can increase substantially your purchasing costs, while you drive up your recurring annual expenses through asset management and other fees. Financial advisors most often will not recommend to buy index mutual funds with very low fees.No load, low cost index mutual funds don’t pay financial brokers and advisors nearly as well as front loaded, high fee, active mutual funds.”
Larry Russell presents Best No Load Mutual Funds posted at Best No Load Mutual Funds, saying, “Don’t bother to frantically move your assets from one mutual fund to another or from one ETF to another. Investment research has repeatedly showing academic studies that performance chasing is a bad strategy the most ofter will yield inferior returns.”
Tomas Escent presents Investment Trading Strategy posted at Nerds on Wall Street, saying, “A Hitchhiker’s Guide to Wired Markets. In this funny financial book, there are no robots parking your car millions of times, however, right now in milliseconds robots trade millions of shares.”
The Skilled Investor presents Low Cost Investment Strategies posted at Personal Financial Investments, saying, “Investment costs which are clearly measured, like fees deducted on your monthly investment statement. Most investors are no aware of opportunity costs that arise from sub-optimal investing practices. Opportunity costs like these are much greater than more costs and investment fees that show up on their statements.”
The Financial Blogger presents Note to Myself: Key Points to Investing During a Bear Market Part1: Remember High Yield Bonds posted at The Financial Blogger, saying, “This is what I am doing with the recent market crunch of 2008. Some people generated amazing returns by taking little risk. Here’s how they did it:
Dividends4Life presents 8 Dividend Stocks Delivering Tangible Value posted at Dividends Value, saying, “Sometimes when companies are tight on cash, they will declare and pay a stock dividend in lieu of a cash dividend. Most shareholders feel like they are getting something. But are they really? In short, a stock dividend is nothing more than a glorified stock split.”
Mike Piper presents Risks Involved in Buying Bonds posted at The Oblivious Investor, saying, “It’s true that bonds tend to have less risk than stocks. But that doesn’t mean they’re risk-free!”
Heather Sanders presents Definitive Short Dollar ETF Guide: Inverse USD ETFs posted at ETFdb.
Managing Debt
Joe Plemon presents Debt Free in One Year: A True Story posted at Personal Finance By The Book, saying, “A true story of how my son and his wife worked their way out of debt during their first year of marriage.”
Matt Jabs presents Lending Club - My Review of Social Lending posted at Debt Free Adventure!, saying, “Is Lending Club right for me? Those of you who read DFA on a regular basis know I am on a mission to free myself and my family from the bondage of high interest and all other debt. For the last 7 months I have been trimming excess fat from every part of our budget and after making many positive changes have recently shifted my focus on getting a few big wins. That’s when I stumbled upon Lending Club…”
oneadvice presents Ways to Have a Credit Crunch Christmas posted at One Advice, saying, “Worried about your credit card bills come 2010? There are ways to have a credit crunch Christmas - don’t miss out on these top tips…”
Credit Shout presents Best Credit Cards for Carrying a Balance posted at CreditShout.
Miscellaneous
nissim ziv presents What is Career Planning and Development? posted at Job Interview Guide, saying, “Career development is an ongoing process, one that you should be focused on as you approach a career and progress through it. Your goals and solutions need to be very specific. This isn’t to say that you can’t revisit your planning and development and make adjustments (after all, life isn’t 100% predictable and we are not, in fact, robots) but writing out your career plan will make your goals more attainable because they become concrete and will remind you of the steps necessary to achieve what you desire.”
Tom @ Canadian Finance Blog presents 10 Ways To Reduce Your Cable Or Satellite TV Bill posted at The Canadian Finance Blog, saying, “With the majority of households looking for ways to cut their expenses, television might be the first non-essential bill you’ll want to look at. Fortunately there are a few ways to save money on your television bill.”
No Load Bond Funds presents Bond Mutual Fund posted at Bond Index Funds, saying, “There is not good reason to invest in bond mutual funds and ETFs with higher fees. Pick the lowest cost broadly diversified index mutual funds and get better results and more sleep.”
Frank Knight presents Stop Identity Theft posted at Best Financial Planning Software, saying, “You need to be proactive and take easy steps to prevent becoming a victim of identity theft. Identity theft is increasing dramatically and it takes a huge amount of time to clean up the mess once you get hit with identity theft.”
Dorian Wales presents A Temple Restaurant and a Clearing House for Tickets – Two Observations of New York City posted at The Personal Financier, saying, “New York City is my favorite destination in the world. Any opportunity to visit again, whether on business or pleasure is a joy. With each visit a new light is shed on some other aspect of the city. I’d like to share two such spotlights with you.” (Editor’s note: Dorian is right about Peter Luger. Best steakhouse around.)
Susan Saverton presents Personal Investment Plan posted at Family Financial Planning, saying, “You need a system that is efficient with respect to your time and your costs, when to develop, implement, and track a personal investment plan.”
Paul Kamp presents Spotlight on Giving in the U.S. posted at Don’t Quit Your Day Job - Personal Finance, Economics and Investing, saying, “Contrary to popular (worldwide) belief, the United States is not a country of cheap people. As a matter of fact, we donate more to charity than any other country - by more than double as a proportion of GDP.”
Retirement Planning
Richard presents How to Stretch an IRA For Your Beneficiaries posted at Consumer Boomer.
Super Saver presents Why I Consider Myself Retired posted at My Wealth Builder, saying, “Since I retired while still in my forties. I know that some people questioned whether it was really a retirement or whether it was just simply a job resignation, followed by unemployment.”
Jeff Rose presents What are Deferred Compensation Plans? posted at Jeff Rose.
Frank Knight presents Roth Retirement Accounts posted at Financial Planner Software, saying, “One of the most complex personal financial decisions is whether to invest in a Roth IRA or Roth 401k versus their traditional retirement account alternatives. For most people, Roth accounts do not make sense financially. For a minority, they are a good deal, but you need sophisticated financial planner software to do the analysis for yourself.”
FMF presents Free Money Finance: 2010 Roth Conversion: Factors to Consider Before Making a Decision posted at Free Money Finance, saying, “Thoughts on whether or not to convert to a Roth IRA.”
Top Stock Mutual Funds presents Stock Mutual Funds posted at Top Index Funds, saying, “This article discusses the 10 ten very low cost stock index mutual funds that track the Standard and Poors 500 large capitalization stock index.”
RJ Weiss presents How To Complete a 401K Rollover to a Roth IRA posted at Genyweath.com, saying, “There are many advantages to completing a 401K rollover to a Roth IRA. The purpose of this post is to make sure a 401K rollover is the correct transfer for your situation and to lay out the steps necessary for a successful transfer”
Risk Management and Insurance
Jeff Rose presents Why Term Life Insurance is the Best Choice posted at Jeff Rose.
Tom @ Canadian Finance Blog presents Do You Have Enough Insurance On Your Home? posted at The Canadian Finance Blog, saying, “When you first bought your house, you most likely got insurance to cover against disasters like fires and storms. Since that time, has the value of your home stayed the same?”
Patrick @ Military Money presents COBRA Benefits 2009 Economic Stimulus Recovery Act posted at Military Finance Network, saying, “The 2009 Economic Stimulus Plan includes additional COBRA and unemployment benefits.”
jim presents Finding Affordable Self Employed Health Insurance posted at Blueprint for Financial Prosperity, saying, “As a self-employed person, finding affordable and reputable medical insurance can be a big challenge.”
Patrick @ Cash Money Life presents Save Money on Auto Insurance Rates posted at Cash Money Life, saying, “Tips on how to save money on your auto insurance rates, including multi car discounts, multi-line policies, defensive driving courses, and more.”
Jonathan Lai presents Insurance: Protection or Investment? posted at Financial Planning DIY, saying, “Choose the right insurance to meet your protection needs in the right way”
Savings
Four Pillars presents $8,000 Credit For First-Time Homebuyers Extended 6 Months – Not Increased To $15k posted at Quest For Four Pillars, saying, “Home buyers credit extended 6 months.”
FMF presents How to Get Consumer Reports Online Access for Free posted at Free Money Finance, saying, “A simple yet effective way to save on a great online resource.”
KCLau presents Caring for the Elderly posted at KCLau’s Money Tips, saying, “Problems faced by the elderly”
MoneyNing presents 10 Reasons to Have a Library Card posted at Money Ning, saying, “Library is still one the best way to spent your time. Here are 10 reasons why you want a library card.”
KCLau presents Are You Rich in Internal Assets? posted at KCLau’s Money Tips, saying, “pay attention to the internal assets”
Taxes
Patrick @ Cash Money Life presents Tax Tips for Children and Newborns posted at Cash Money Life, saying, “Many people are aware of the child tax credit, but here are some other tax credits and deductions that you maybe eligible for if you have children.”
FMF presents Free Money Finance: Preparing For The Death Tax Debate posted at Free Money Finance, saying, “The great estate tax debate wages on…”
David de Souza presents Tax Returns for Landlords. posted at UK Tax Blog, saying, “Due to house prices decreasing, more people are renting their properties instead of selling. This post offers 5 helpful tax return tips to people renting their properties at the moment.”
Super Saver presents Accelerating Tax Deductions to 2009 posted at My Wealth Builder, saying, “We’ve decided to accelerate appropriate 2010 tax deductions to 2009 to maximize our Schedule A itemized deductions, and take the standard deduction for married filing joint in 2010.”
Ben presents Year End Tax Planning Tips Follow Up posted at Money Smart Life.
FMF presents Fourteen Tax Management Techniques posted at Free Money Finance, saying, “Tips for saving on taxes.”
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