Carnival of Financial Planning – Edition #132 – March 12, 2010
Welcome to the March 12, 2010 Edition #132 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.
The Skilled Investor, Editor
RJ Weiss presents 2 Lessons from a Month Without Credit Cards posted at Genyweath.com, saying, “After going a month without credit cards, here are the two most important lessons I learned.”
Tom @ Canadian Finance Blog presents Budgeting Tools Online And Beyond posted at The Canadian Finance Blog, saying, “One of the biggest obstacles to making and keeping a budget is not knowing where to begin. Thankfully, the Internet age has brought with it some wonderful tools designed to help you keep an eye on your spending.”
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.”
Joe Plemon presents Budgeting Without Bean Counting…5 Great Tips posted at Personal Finance By The Book, saying, “Making a budget isn’t the problem; keeping it is. This post gives common sense hints on how to keep a budget for the long term.”
The Skilled Investor presents Save More Money posted at Financial Decision Rules, saying, “How much you earn, spend, budget, and save are by far the most dominant determinants of your long-term financial well-being. Self-control in your financial decision-making regarding budgeting and consumption is far more important than clever investing. Expenditure control and budgeting works, while attempts to be clever about investing usually are counter-productive.”
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 – 2008.”
FMF presents Free Money Finance: Your Parents’ Estate Plan Part 1: Why You Need to Know posted at Free Money Finance, saying, “You need to talk to your parents about their estate plan.”
Joe Plemon presents Should You Leave an Inheritance to Your Children? posted at Personal Finance By The Book, saying, “Leaving an inheritance is a dicey issue. Do you? How much? Now or later? This post doesn’t have all the answers, but will challenge your thinking.”
Ryan @ Cash Money Life presents Financial Products, Programs, and Services We use posted at Cash Money Life, saying, “The financial management software programs, accounts, and tools my wife and I use to manage our money.”
Jeff Rose presents How to Become a Successful Financial Advisor posted at Jeff Rose.
jim presents Best Places to Hide Money At Home posted at Blueprint for Financial Prosperity.
Evolution Of Wealth presents Defining Financial Planning posted at Evolution of Wealth, saying, “We all define financial planning differently. How do you define it? Here’s my definition, what do you think?”
Susan Howe presents The 40 Top Twitter Feeds to Help You Save Money posted at The Budget Life Blog, saying, “To make saving money easy, these feeds have taken to Twitter to share tips and discounts on how to manage your budget and spend your hard-earned money wisely. Its worthy to know these things nowadays.”
My Journey presents Why Does Everyone Hate on Financial Planners? Defending Financial Advisors posted at My Journey to Millions, saying, “Why does everyone rip of financial planners? There are many aspects of the profession that most people couldn’t do or wouldn’t want to learn how to do”
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.”
Roshawn Watson presents Thoughts on Escaping The Rat Race posted at Watson Inc, saying, “Do you yearn to be free…really free? What would you do if money was not a big limitation? Perhaps the primary reason for increasing your financial literacy is so you may indeed escape the rat race.”
Big Cajun Man presents Personal Finance Resolutions for the New Year? posted at Canadian Personal Finance Blog, saying, “Are Financial New Years resolutions a good idea? Yes, but make them achievable, don’t try to boil the ocean, just take small steps!”
Frank Knight presents Roth IRA Accounts posted at Financial Planning 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.”
Larry Russell presents Mutual Fund Sales Loads posted at Best Mutual Funds, saying, “With over 60,000 different mutual fund investment share classes sold worldwide, some mutual funds must be better than others, but which ones are they? 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.”
Nigel Savers presents Investor Asset Allocation posted at Lifetime Financial Planning, saying, “Diversification has become an axiom of personal investing, because the specific risks of businesses and other investment entities can be reduced or eliminated from a portfolio without reducing expected returns. When you hear that you should diversify your investments, this means that you should diversify your investments completely and globally – now and always. ”
Financing a Home
Consumer Boomer presents Should Retirees Consider Reverse Mortgages? posted at Consumer Boomer.
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 Is Bigger Better? Scaling Down The American Dream posted at Watson Inc, saying, “Today’s post-crash buyers are not willing (nor able in some cases) to extend themselves like before, and the impact on the housing market is substantial.”
Patrick @ Military Money presents VA Loan Eligibility and Financing posted at Military Finance Network, saying, “Find out who is eligible for a VA Loan and how much money you may be able to get in guaranteed financing. This is great information for any military veteran.”
Praveen presents Will Education Follow the Housing Bust? posted at My Simple Trading System, saying, “Tips for students to avoid excessive loans and debt”
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.”
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.”
FMF presents Making the Most of Your Most Valuable Financial Asset posted at Free Money Finance, saying, “Your career is your #1 financial asset and what you do (or don’t do) with it can make (or cost) you millions of dollars. This post details the financial impact when you make the most of your best asset as well as gives tips for doing so.”
One Family presents 2009 Stock Portfolio Performance and 2010 Outlook posted at One Family’s Blog, saying, “A summary of our 2009 stock portfolio performance with a commentary on 2010 outlook.”
Consumer Boomer presents Don’t Miss The IRA Contribution Deadline For 2010 posted at Consumer Boomer.
The Smarter Wallet presents Free Online Stock Trading & Broker Promotions posted at The Smarter Wallet, saying, “Some great online stock trading promotions that you can take advantage of!”
ABC presents Reasons For A Roth Conversion From 401K Or Traditional Roth posted at ABCs of Investing, saying, “Reasons for and against doing a Roth conversion.”
Zach Scheidt presents Internet Bandwidth Finally Generates Profit posted at ZachStocks, saying, “Abovenet Inc. (ABVT) offers bandwidth to telecom carriers and corporations. A strong growth rate along with capital discipline and a reasonable valuation make this company an excellent investment opportunity.”
The Financial Blogger presents 2 Minutes Guide to Last Minute RRSP for 2009 posted at The Financial Blogger, saying, “You need to make your RRSP contribution before the deadline: March 1, 2010. So here’s a 2 minute guide to last minute RRSP contributions.”
Frank Knight presents Municipal Bond Investments posted at Personal 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.”
The Skilled Investor presents Market Timing posted at Personal Investment Management, saying, “You must stay invested in the securities markets to earn market risk premiums. You have to have your money invested and at risk to be paid a risk premium. Attempting to avoid risk or losses by jumping in and out to “time the markets” does not work. Both amateurs and professionals are lousy at market timing.”
Four Pillars presents Use Your Cell Phone Apps To Manage Your Money posted at Quest For Four Pillars, saying, “Some cell phone apps to help track your finances”
ABC presents How To Convert To A Roth IRA posted at ABCs of Investing, saying, “A detailed explanation of how to convert to a Roth IRA with examples.”
MoneyNing presents Investing in Physical Gold Can Cost You posted at Money Ning, saying, “Gold is one thing but buying the physical product will cost you. Here’s why.”
The Investor presents Volatility, inflation, and asset class returns posted at Monevator.com, saying, “You can reduce the risk of losing money in stocks by holding them for longer, which lessens the impact of their volatility.”
Steve Alexander presents 5 Points from Warren Buffetts 2010 Shareholder Letter posted at MagicDiligence – Optimizing Joel Greenblatts Value Stock Strategy, saying, “Warren Buffett, the world’s greatest investor, recently released his 2010 letter to shareholders. Here are 5 points of wisdom that investors can learn from it.”
jim presents Roth and Traditional IRA Contribution Limits posted at Blueprint for Financial Prosperity.
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.”
James Bourne presents Bond Expenses posted at Best Bonds, saying, “Financial researchers not have detected a relationship between paying higher fees and obtaining better returns from the bond industry. In fact, the opposite seems to be true. Higher expenses tend to mean lower net returns to individual investors.”
Zach Scheidt presents Portfolio Recovery Prices Successful Secondary Offering posted at ZachStocks, saying, “Portfolio Recovery Assoc (PRAA) has traded sharply higher after reporting a strong fourth quarter and issuing new stock to fund future acquisitions. Buying receivables at 3.5 cents on the dollar appears to be paying off.”
Patty Pedersen presents Federal Reserve Discount Rate and Your Investment Decisions posted at AlphaProfit MoneyMatters – Investing Blog, saying, “Recently, the Federal Reserve raised the discount rate after nearly 14 months from 0.5% to 0.75%. This article explains if more rate hikes in store and what this rate hike means for stock, bond, commodity, and cash investments.”
Writers Coin presents Investing in Real Estate and Raking in Dividends Without Taking a Tax Hit posted at The Writer’s Coin, saying, “How I almost lost thousands investing in real estate and how I learned a sweet strategy to invest in dividends without paying taxes.”
Tomas Escent presents Securities Trading Applications posted at Nerds on Wall Street, saying, “A little artificial intelligence goes a long way on Wall Street. If you give someone a program, you will frustrate them for a day; if you teach them how to program, you will frustrate them for a lifetime.”
Mike Piper presents Sunk Costs and Underwater Mortgages posted at The Oblivious Investor, saying, “If you’re considering selling your house, how should the price you paid for it factor into the decision? (It shouldn’t.)”
Frank Vertin presents Top 10 Index Funds posted at No Load Mutual Funds, saying, “Useful information on the top ten no load index funds that track the Standard and Poors 500 composite index in terms of lowest costs.”
Dividends4Life presents 11 Dividend Stocks Providing Positive Feedback posted at Dividends Value, saying, “What is the primary reason you invest in dividend stocks? For me, it is a means to build a growing income that can be relied on during retirement. One of the beauties of dividend investing is it provides you continuous feedback. As the years and decades go by you can see your earnings steadily grow as you invest your money in dividend stocks, and as an added bonus, great dividend stocks will increase their dividend payments each year.”
Ryan @ Cash Money Life presents What is a Good Credit Score? posted at Cash Money Life, saying, “How high of a credit score do you need to qualify for a good credit score, and how does it affect your ability to get a loan?”
Silicon Valley Blogger presents Lending Club Review: A Leading Peer To Peer Lending Network posted at The Digerati Life, saying, “Thanks!”
Big Cajun Man presents Do You Have a Financial GPS? posted at Canadian Personal Finance Blog, saying, “Do you need a financial GPS?”
Digerati Life presents Citi Credit Cards Review: From Citi Platinum Select To Citi Forward posted at The Digerati Life, saying, “Reviewing some popular credit cards.”
The Dough Roller presents List of Free Prepaid Credit Cards posted at The Dough Roller.
Joe Plemon presents People Are Begging for Financial Help. Five Things You Can Do posted at Personal Finance By The Book, saying, “The recession has a positive spin off: people are seeking more financial knowledge. This post gives some ideas of how to reach out and help someone.”
MoneyNing presents No One Became Wealthy Worrying for Others posted at Money Ning, saying, “No one knows everyone else’s situation so why try to worry about their finances?”
nissim ziv presents Where do you see yourself in 5 years time? Interview Question and Answers posted at Job Interview Guide, saying, “Do not let this question throw you off track Most people with some interview experience under their belt, may have come across this “5-year forecast” interview question in the past.”
Pasadena Financial Planner presents Mutual Fund Performance posted at Top Mutual Funds, saying, “Summarizes a research report that compared Vanguard’s passively managed index mutual funds with Vanguard’s actively managed mutual funds. If you invest in any of Vanguard’s investment fund products, you might want to read and understand this study. ”
Super Saver presents How Living Only on Base Salary Funded our Early Retirement posted at My Wealth Builder, saying, “In addition to spending less than our take home salary, living below our means meant saving almost all of our bonuses and other adjustments to compensation..”
PT presents How Good is Your 401K? Ask BrightScope posted at Prime Time Money.
Jules Wells presents Roth Retirement Calculator posted at Retirement Planning Software, 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.”
Risk Management and Insurance
Jeff Rose presents What Happens When a Life Insurance Policy Lapses posted at Jeff Rose, saying, “In case you ever let your life insurance policy lapse, here’s what you need to know.”
The Smarter Wallet presents EverBank Review: Top Savings Bank Rates posted at The Smarter Wallet, saying, “We review an outstanding bank/financial institution.”
KCLau presents Are You Rich in Internal Assets? posted at KCLau’s Money Tips, saying, “pay attention to the internal assets”
Jeff Rose presents How To Make Quarterly Estimated Tax Payments posted at Jeff Rose, saying, “If you are self-employed, it can be a good idea to make quarterly estimated tax payments.”
Praveen presents Free Ebook: Capital Gains Tax Tips for Traders and Investors posted at My Simple Trading System, saying, “Tax Tips for traders and investors”
GLBL presents How to Properly Prepare for Filing Your Taxes posted at Gather Little By Little, saying, “The main causes of tax filing errors are rushing and not having all necessary tax documents on hand.”
Four Pillars presents How Long Before I Get My Income Tax Refund? posted at Quest For Four Pillars, saying, “A guideline for how long you have to wait for a tax refund.”
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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