Best Personal Financial Planning and Personal Investment Articles this Week from Personal Finance Blogs
Welcome to the June 18, 2010 Edition #146 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.
Budgeting and EconomicsLearn 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.”
The Financial Blogger presents May Net Worth Update (+13.5%!!!!) posted at The Financial Blogger, saying, “with the recent sale of GLBL and the sale of our home, I am starting May with a big jump in terms of net worth.”
Roshawn Watson presents Savings Down, Spending Up but What Does it Mean? posted at Watson Inc, saying, “New data suggests that Americans are saving less and spending more, as the vicious economic cycle repeats itself once again. It appears that despite proclamations that our newly-embraced frugality reflected a permanent change in behavior, frugality for many was a passing fad induced by momentary fear rather than a substantive shift in consumer spending”
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.”
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.”
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.”
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?”
BIFS presents The Importance of Estate Planning posted at Budgeting In the Fun Stuff, saying, “Estate planning is a very important part of a person’s overall financial portfolio. This post is part of a series to evaluate a person’s financial health.”
Jeff Rose, CFP presents Should You Do a Charitable Remainder Trust? posted at Jeff Rose.
Sam presents Do You Need a Living Will? A Common Sense Guide to Living Wills posted at Surfer Sam and Friends, saying, “1. What Is a Living Will 2. How Is a Living Will Used 3. What Should Your Living Will Mention 4. When Does the Living Will Take Effect 5. What Is a Durable Power of Attorney for Health Care 6. A Living Will Is Part of an Advance Health Care Directive 7. How to Prepare Your Living Will Do you need a Living Will? A Living Will is your opportunity to express your directives for your own medical care, should you become incapacitated. The Living Will is a clear written statement of your desire regarding continuing treatment at the end of life. It addresses the the questions of life support and aggressive medical intervention. This is a legal document, but it is voluntary, and not compulsory.”
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.”
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.”
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.”
jim presents How Long Should I Keep Financial Documents? posted at Blueprint for Financial Prosperity
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
Bucksome presents Is it Better to Rent or Buy? posted at Buck$ome Boomer’s Journey to Retirement, saying, “I live in one of the top 10 cities it’s better to rent than buy. Sometimes it might make sense to buy anyway.”
MoneyNing presents How to Recast Your Mortgage posted at Money Ning, saying, “You may be able to reduce your monthly mortgage payment without any cost.”
PT presents Stated Income Mortgage: No More Liar Loans Available posted at Prime Time Money, saying, “How to finance a home if you are a newly self-employed person. I discuss liar loans or stated income mortgages and why they aren’t available anymore.”
Ryan @ MFN presents How to Apply for a VA Loan posted at Military Finance Network, saying, “A VA Loan is a great way to finance a home, but there are several steps you need to take before you can qualify for and obtain a VA Loan.”
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!”
Ryan @ MFN presents History of the GI Bill posted at Military Finance Network, saying, “A brief history of the GI Bill, one of the best ways for military veterans to pay for college.”
freefrombroke presents What is a Health Savings Account? posted at Free From Broke, saying, “A Health Savings Account can be a great tool to save for health care. Here is an overview of what an HSA is.”
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”
2 Cents presents Where Is the Stock Market Headed Next? Part II posted at Balance Junkie, saying, “Here’s a look at one person’s answers to some good market questions posed by Kevin at Out of Your Rut.”
Praveen presents Strategic Purchase By Abbott Laboratories Will Make It Largest Prescription Drug Seller In India posted at My Simple Trading System, saying, “How Abbott Laboratories recently made a strategic purchase in India, which makes the stock valuable over the long term.”
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.”
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.”
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.
Madison DuPaix presents How to Redeem Savings Bonds posted at My Dollar Plan, saying, “Here is a great how-to on redeeming savings bonds.”
Consumer Boomer presents Making Use of a Discount Brokerage to Invest posted at Consumer Boomer.
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.”
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.”
Mike @ Green Panda presents Asset Allocation Basis Part 1: Know Your Asset Classes posted at Green Panda Treehouse, saying, “You want to learn how to manage your asset allocation properly? You first need to know which kind of asset classes you can invest in! Today, I will first review the major asset class categories and in a second post, I will subdivide each of them, but let us just start with a definition of asset class and asset allocation:”
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.”
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 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.”
Dividend Growth Investor presents Is BP’s dividend safe? posted at Dividend Growth Investor, saying, “With liabilities expected to reach several billion dollars, investors have been selling off BP’s stock, which has caused it to decline almost 50% from its highs in April. The uncertainties regarding BP’s future liabilities, have caused the Obama administration to push for a dividend cut, in order to ensure that the company would have the cash to pay its obligations.”
Barb Friedberg presents The Secret to Cutting Your Debt IMMEDIATELY posted at Barbara Friedberg Personal Finance, saying, “Get rid of debt now! Quit with the excuses. A simple plan to become debt free immediately.”
Silicon Valley Blogger presents On Travel Credit Cards: How To Travel With Money posted at The Digerati Life, saying, “I review travel credit cards and share tips on how to travel with money.”
marjorie presents Walking Away From Your House ? Cut Losses and Save Money posted at Wealth Junkies, saying, “Millions of homeowners are facing the reality of a house that is worth far less than they owe. This leads to a very tough situation where they must decide whether they should stick it out or walk away. Here are 5 things to consider when facing this decision.”
Jessica Bosari presents Trying to Save Money But Don’t Know Where to Start? How to Prioritize. | billeater.com posted at Billeater, saying, “How to prioritize debts to pay them down faster.”
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!”
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.”
Adam Williams presents How To: Manage your debts without using Debt Management Programs posted at RabbitFunds.com, saying, “If you constantly find yourself thinking things like “If only I hadn’t bought that, then I could have this” or running short of cash a fortnight before payday, then you could do with taking action, kicking a few bad habits, and tackling some debts before they take over your life completely.”
MoneyNing presents Three Expensive Habits that are Putting Your Financial Future at Risk posted at Money Ning, saying, “Improve your habits and you will prosper. Here are three that you absolutely must change first.”
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”
Joe Plemon presents How Learning to Say “No” Will Help Your Life and Your Finances posted at Personal Finance By The Book, saying, “This post examines compliants: those who say yes to bad things because they haven’t learned how to say “no” or even think it’s OK to say “no”.”
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.”
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.”
Joe Plemon presents To Buy or Not to Buy? The Cost per Use Method posted at Personal Finance By The Book, saying, “It isn’t just the upfront cost that matters. You should also consider how much you use what you buy.”
Ryan @ CML presents How to Sell Your Car on Craigslist posted at Cash Money Life, saying, “Tips on how to quickly and easily list and sell your car on Craigslist.”
nissim ziv presents Samples Interview Questions and Answers posted at Job Interview Guide, saying, “The interviewing performance is always one of the selection criteria for a position as it demonstrates the presentation abilities as well as the communication skills of the candidate.”
FMF presents Spending Retirement Income Can Be Risky posted at Free Money Finance, saying, “You must be careful in planning how to spend your retirement income — there’s often very little room for error.”
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 Our Three Financial Measures posted at My Wealth Builder, saying, “We measure three values to determine our financial health: investment income, total savings, and total debt.”
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.”
FMF presents Five Retirement Considerations posted at Free Money Finance, saying, “Be sure you consider these five issues as you plan your retirement.”
Risk Management and Insurance
Jeff Rose, CFP presents What is a Term Life Insurance Policy? posted at Jeff Rose, saying, “You know that in order to protect your family’s financial situation, life insurance is necessary.”
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 Flexible Spending Account vs Health Savings Account posted at Cash Money Life, saying, “HSAs and FSAs are a great way to use tax exempt money to pay for your health care costs. But do you know the difference between the two health care plans, or know which is best for your situation?”
Henry Bagdasarian presents Automatic Bill Payment posted at Free Identity Theft Prevention, Detection and Fraud Solutions, saying, “Prevent identity theft”
June Tree presents Ally Bank Interest Checking & 2 Year CD With Rate Increase Option posted at The Digerati Life, saying, “Reviews on some great savings products.”
Jim & Martha presents How to Save Money Booking Cruises posted at Wanderlust Journey.
Sun presents Are CDs from Troubled Banks Worth The Trouble? posted at The Sun’s Financial Diary.
KCLau presents Are You Rich in Internal Assets? posted at KCLau’s Money Tips, saying, “pay attention to the internal assets”
Jeff Rose, CFP presents Small Business Owners May Face May New 1099 Headaches posted at Jeff Rose, saying, “Section 9006 says that starting on January 1, 2012, all businesses must issue 1099 tax forms not only to freelancers and vendors, but also to any individual, business or corporation from which they purchase more than $600 in goods or services in a tax year.”
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.”
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.
Want to learn more about RESPs? Buy The Book:
The RESP Book: The Simple Guide to Registered Education Savings Plans
Everything you need to know about RESPs.