Carnival of Financial Planning #148 - July 2, 2010

Welcome to the July 2, 2010 Edition #148 of the Carnival of Financial Planning. My thanks to the editor of The Skilled Investor for having My Wealth Builder host this week.

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!

Budgeting and Economics

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."

Sustainable Life Blog presents Cash Flow posted at Sustainable Life Blog, saying, "Tips on how to manage cashflow."

Ryan @ CML presents How to Make a Zero Based Budget posted at Cash Money Life, saying, "How to create a budget that you can use to streamline your finances and better control your money."

Learn Save Invest presents The Best Financial Advice posted at Learn Save Invest.

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."

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?"

Jessica Bosari presents Hate budgets? How to Save Money Anyway billeater.com posted at Billeater, saying, "How to manage your money without making a detailed budget."

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 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"

Estate Planning

Jeff Rose, CFP presents Should You Do a Will or a Living Trust? posted at Jeff Rose.

Financial Planning

The Investor presents Millionaire calculator tool posted at Monevator.com, saying, "Here's a brand new tool that works out when you'll make your million or how much you need to save to get there by a particular age - it even accounts for inflation!"

FMF presents Seven Mistakes in Hiring a Financial Planner posted at Free Money Finance, saying, "Be sure to avoid these mistakes when you hire a financial planner."

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."

jim presents How Long Should I Keep Financial Documents? posted at Blueprint for Financial Prosperity

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.

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."

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.

2 Cents presents 3D Hurricane: Are Your Finances Prepared? posted at Balance Junkie, saying, "Rob Arnott thinks deficits, debt and demographics will be key drivers for the economy and the markets over the next few years. Have you factored them into your financial planning?"

Financing a Home

studenomist presents How Does a Young Person Obtain a Mortgage? posted at studenomics.com.

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!"

Income

FMF presents The Top Ten Worst-Paying College Degrees posted at Free Money Finance, saying, "If you're looking to make a lot of money during your career, these are degrees you'll want to avoid."

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"

Consumer Boomer presents Finding a High Interest Savings Account posted at Consumer Boomer.

Investing

Dividend Growth Investor presents Highest Yielding Dividend Stocks of S&P 500 posted at Dividend Growth Investor,saying, "I have highlighted the top 20 yielding stocks in the S&P 500 index below:"

Praveen presents CBOE Just Had Its IPO: Why I Bought The Stock posted at My Simple Trading System, saying, "An investing system for IPOs"

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."

Finance Banter presents Putting in Protection posted at Finance Banter, saying, "Steve Smith highlights the use of protective puts trading strategy via an example using Apple"

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."

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.

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?"

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."

PT presents What is Peer to Peer Lending? posted at Prime Time Money, saying, "How to invest with peer (or social) lending. I explain what it is and what the risks are."

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."

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: Someinvestors 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."

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

mike presents Low Cost Ways To Buy Dividend Stocks posted at Mike, saying, "How to save money on stock purchases."

Mike @ Green Panda presents You Want To Lose money? Buy Bond Funds « Green Panda Treehouse postedat Green Panda Treehouse,saying, "You might have been burnt by the market but it doesn’t mean that you should hang yourself with bonds"

Sun presents Are CDs from Troubled Banks Worth The Trouble? posted at The Sun’s Financial Diary.

Ryan @ CML presents Target Date Retirement Funds posted at Cash Money Life, saying, "Target Date Retirement Funds, or life-cycle funds, are automatically allocated investments based on a target date, removing guesswork from investing."

Frank Vertin presents Top Index Fundsposted 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."

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."

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 Six Dividend Stocks Avoiding The June Freeze posted at Dividends Value, saying, "For a dividend investor, there is not much worse than a stock that cuts or eliminates its dividend. Suddenly, the reason you purchased the stock no longer exists. Many dividend investors, myself included, have a hard and fast rule to immediately sell any stock held as income investment if it cuts its dividend."

Steve Alexander presents Why the Dollar Price of a Stock Does Not Matter posted at MagicDiligence - Value Stock Strategy, saying, "A common beginning stock investor mistake is to shy away from stocks with high dollar prices. But what is really important, and how can car shopping help us understand stock shopping?"

Managing Debt

Madison DuPaix presents Bill Includes New Student Loan Forgiveness Program posted at My Dollar Plan, saying, "This article looks at key points of student loan reform that is part of the new health care bill."

Tim Chen presents Getting The Most Out Of Your Citibank Thank You Points posted at NerdWallet Blog - Credit Card Watch, saying, "If you've got a Citi card, you may not be getting the most bang for your buck. You not only have to know how to earn points, but you have to know how to redeem them to make sure you can at least get your 1% back."

Miranda presents How To Challenge a Credit Application Denial posted at Moolanomy.

Craig Ford presents Borrower is Slave to the Lender The Point posted at Money Help For Christians, saying, "Explores the relationship between borrowing and slavery."

Big Cajun Man presents Found Money Trap posted at Canadian Personal Finance Blog, saying, "Found money should go on debt no matter what!"

The Smarter Wallet presents Are Debt Counseling Services The Way To Debt Relief? posted at The Smarter Wallet, saying, "On debt counseling services."

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."

Jeff Rose, CFP presents How to Pay Off Your Credit Card Debt Fast posted at Jeff Rose.

Adam Faughn presents 5 Reasons We Try to Follow Dave Ramsey?s Baby Steps posted at The Faughn Family of Four, saying, "There are many ways to handle money, but we like Ramsey’s plan. Here are 5 reasons why. 1. The approach is common sense based, and has a Biblical background. Ramsey is unashamedly a believer in Christ. He often provides Scripture as the reason for an answer he gives to a caller on his radio program. Also, Ramsey simply has a gift for being able to take somewhat complex situations or answers, and bringing them down to a common sense answer."

Miscellaneous

MoneyNing presents Learning to Say “No” to Your Kids posted at Money Ning, saying, "How do you say no to kids who want everything?"

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."

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"

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."

nissim ziv presents Teamwork Interview Questions and Answers posted at Job Interview Guide, saying, "Working in a company has several aspects other than the abilities and experience of the person. One important aspect is teamwork. In most companies, it is necessary that the employee is able to work in a team, and maybe even handle a team work during the lean times."

Retirement Planning

FMF presents Three Steps to See If You're Ready for Early Retirement posted at Free Money Finance, saying, "Three steps you need to review to see if you're ready for retirement."

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"

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."

Ryan @ CML presents Roth IRA Conversion posted at Cash Money Life, saying, "A Roth IRA conversion is when you change a Traditional IRA to a Roth IRA. To do so you will need to pay taxes and there may be restrictions."

The Financial Blogger presents At 55 – Is it Too Late For Retirement Planning? posted at The Financial Blogger, saying, "So if you don’t have a plan at 55, is it too late for retirement planning? The quick answer is no (especially since you might not even retire at 65 but perhaps closer to 70 or 75 ;-) ). However, some things may need to change if you want to have a comfortable retirement:"

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."

BWL presents 5 Important Steps For Retirement Planning posted at Christian Personal Finance, saying, "Who doesn’t want to win at retirement? Of course, we all do. But how can some folks be winning easily and others seem to be way off track for their retirement goal!?"

Risk Management and Insurance

Michael Pruser presents Should You Consider Permanent Life Insurance? posted at The Dough Roller, saying, "Permanent Life Insurance (Also known as Whole Term Life) is aninvestment like any other. But is the return worth the risk?"

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)"

Kim Luu presents Guardianship – A Critical Protection for Your Child posted at Money and Risk, saying, "In planning, it's the little things or assumptions that tend to trip people up. Many people buy insurance to protect their children but very fewthink about a critical step."

Savings

Joe Plemon presents What is the Difference Between Saving and Investing? posted at Personal Finance By The Book, saying, "This post will help the reader gain clarity in grasping this important distinction between saving and investing."

KCLau presents Are You Rich in Internal Assets? posted at KCLau's Money Tips, saying, "pay attention to the internal assets"

Taxes

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."

David de Souza presents Inland Revenue Increase Tax Free Allowance posted at UK Tax Blog, saying, "The tax freeallowance has recently been increased. Find out what it means and how it will affect you."

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.

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