Investing During Volatile Times

"... attempt to be fearful when others are greedy and to be greedy only when others are fearful." ~ Warren Buffett on investing.

While Warren Buffett's emotional investment strategy is good in theory, I find executing it consistently very difficult.   For example, I've been tricking funds into the market since May 22 when Ben Bernanke first discussed the possibility of tapering bond purchases.  However, this past Monday's volatility caused me to significantly taper my ETF purchases since I had already taken losses on many of my earlier purchases.  However,  the Dow has had two 100+ point days since then.  Earlier this year, I had been selling into the rally to take profits, but that resulted is a bit of seller's remorse as many of the sold stock advance another 10-25%.

Of course, I wish I could buy at the exact bottom and sell at the exact top. But that just isn't going to happen.  So I will continue to buy specific index ETFs on down days and sell profitable stock positions when a market advance begins again.

For more on The Practice of Personal Finance, check back every Wednesday for a new segment.

This is not financial  or investing advice. Please consult a professional advisor.

Copyright © 2013 Achievement Catalyst, LLC

Carnival of Financial Planning #238 - May 25, 2012

Welcome to the May 25, 2012 Edition #238 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. It focuses 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

Sean presents Money Saving Workout Routines for a Fit Recession-ista posted at One Smart Dollar, saying, "Spending money for a gym membership can be expensive. Here are some great tips to keep yourself in shape and not break the budget.

David presents Wired Wall Street Capital Markets posted at Wall Street History , saying, " Looking into the workings of modern securities markets is like looking under the hood of a Prius hybrid car. There are so many complex and obscure parts it’s hard to discern what’s going on. History repeats and informs in market technologies. From the days when front-running involved actual running to the “Victorian Internet era” brought on by telegraphy, we can learn a great deal from looking back at a simpler era."

101 Centavos presents Travel Notes: Just Say Ahn-Nyeong Hah-Seh-Yo and Kon'nichi Wa posted at 101 Centavos, saying, "Just a couple words is all you need to know when traveling abroad. Hello and thank you and a big smile will open a lot of doors in the East, especially in a business setting, and most especially coming from Americans, renowned foreign-language ignoramuses."

John presents Where's My Experian FICO Score? posted at Card Hub, saying, "In a world where knowing your credit score is now instrumental to handling your finances, why is it that Experian keeps you from that knowledge? It's a flawed system when the consumer is denied access to their own financial data."

Financial Planning

Don presents Money Rules When Spending Money posted at MoneySmartGuides, saying, "I was recently in Chicago for a charity event. The events were held at the hotel I was staying at so I ended up eating a handful of meals in the hotel."

Suba presents The Three Musketeers: My Dad's Medical Team posted at Broke Professionals, saying, "Money is still my dad's focus, even when facing quadruple bypass and vascular surgeries within three months."

Jeffrey presents Only 72: If You're Serious About Building an Online Business posted at Money Spruce, saying, "If you want to get right to the sale, click here to go to Only 72. I'm writing today about the Only 72 sale. It's 90 percent off over $1,000 in ebooks and guides for the entrepreneur - but only for 72 hours. Why I'm writing a post about it? Almost 2 years ago, I began searching for a different path in life."

Walter presents Best Fixed Income Funds posted at Fixed Income Fund Investing, saying, "The bond investment fund market is no place for an individual investor to try to beat the market and get higher returns through attempts at clever fixed income investing. Even professional bond market money managers do not beat the bond market."

Invest It Wisely presents Living to 100 and Beyond: How Will It Affect Your Retirement Plans? posted at Invest It Wisely, saying, "This is the first in a series of articles on living to 100 and beyond."

Daisy presents Shopping Frugally posted at Add Vodka, saying, "I don't know about you, but if I'm about to buy an item that Ive had my eye on for awhile, I do a lot of research."

TSI presents Professional fund manager performance. posted at Skilled Investor Blog , saying, " If investment mutual fund managers were truly skilled at beating the market, then you would expect mutual fund manager performance prowess to persist over time. Unfortunately, the evidence indicates that superior past professional performance among mutual fund managers tends not to persist. Past superior mutual fund performance is simply not a predictor of future superior mutual fund performance. "

KT presents Easy Energy Saving Tips... posted at Personal Finance Journey, saying, "Energy costs seem to rise almost every day, and it can be hard to keep pace with them, especially if you find yourself on a tight budget. While it might be something that some people can just about cope with, for others, simply meeting the cost of their basic energy needs can be awfully difficult."

Teacher Man presents RRSP vs RESP Accounts posted at Young And Thrifty, saying, "There are obviously numerous aspects of each person’s financial situation that will come into play when looking at whether a RRSP or an RESP contribution is right for them."

JB presents Are Banks Really In It For You? posted at My University Money, saying, "Learn from my mistakes and never assume the banks are in it for you. They aren’t, in fact they make a killing off you so don’t make it easy on them whenever they try to push a product on you."

Ted Jenkin presents Does Your 401(k) Offer An “In Service” Distribution? posted at Your Smart Money Moves, saying, " For Generation X clients, the majority of their retirement savings are in the company 401(k). While you do have a multitude of options of what you can do with your 401(k) if you leave your employer, often people feel like they are stuck if they stay with the same employer for a long period of time. This is especially true with larger companies as most of those plans offer a limited number of investment choices and several target retirement funds. I’m amazed that many people I sit down have never heard of whether their company offers an in service withdrawal or an in service distribution which can give them greater investment control of their 401(k) assets. Since we have had two major market meltdowns over the past 12 years, 401(k)’s offer limited power to help you risk mitigate against a market crash. This is why you need ask your employer today, do we offer an in service distribution?"

Dave presents Active Alpha Returns posted at Wall Street Nerds , saying, " The Old Testament of indexing is Burton Malkiel’s classic A Random Walk Down Wall Street, first published in 1973 by W.W. Norton and now in its ninth edition. For typical individual investors, without special access to information, it offers what is likely the best financial advice they will ever get: It is hard to consistently beat the market, especially after fees. A passive strategy will do better in the long run. "

Shannon McNay presents Credit Unions vs. Banks: Which Should You Choose? posted at ReadyForZero Blog, saying, "In the years since the infamous Lehman Brothers collapse and the ensuing financial crisis, scrutiny of banks has only grown worse. It’s enough to make some people want to go back to the old days of stuffing cash under their mattress! However, in order to protect your money it is important that you put it into a bank. The real question is, which banks should you trust? As resentment towards big banks simmers, people are flocking towards their local credit unions for their banking needs. How can you decide which is right for you? We break it down for you here!"

PFP presents Investment Tax Management  posted at Pasadena Financial Planner , saying, " As you move your cash, bond, and stock financial assets into lower cost, more broadly diversified investment mutual funds and/or ETFs, you should also consider how to “locate” your investment asset allocation with respect to more optimal taxation."

JP presents Starting to Exercise? Should Your Family Spend Money to Work Out? posted at My Family Finances, saying, "Starting to exercise? While I'd love to just say, go frugal, you don't need to spend money to be active, it's really not that simple. There are many good reasons to spend money working out.

Income

Div Guy presents What I Would Do With $10,000 posted at The Dividend Guy Blog, saying, "What would you do with extra money? I share my plans."

Mike presents Is Losing Your Job The Best Thing That Could Happen to You? posted at The Financial Blogger, saying, "How losing your job could lead to even more income."

Insurance and Risk

Jeff Rose presents Should You Buy Mortgage Protection or Term Life Insurance? posted at Good Financial Cents, saying, "With so many different types of insurance you can purchase nowadays, it’s very easy to get insurance poor. Buying coverage on your home with mortgage life insurance teeters on the fence of being a bit too much."

Larry presents Identity theft protection posted at Objective Financial Planner, saying, "As a threat to your financial security, you should take the potential for identity theft very seriously. Identity theft sometimes entails a loss of your money, but whether or not you lose money, it can take a very large amount of your time to rectify."

Ashley presents How Much Life Insurance Do You Need? posted at Money Talks Coaching, saying, "Life insurance isn't sexy or fun but it is something you need to think about every few decades."

Investing

Van Beek presents How to Invest with Stock Options posted at Stock Trend Investing, saying, " Investing in stock options is slightly more complex than trading in basic stocks. The two fundamental methods of trading options are buying calls and puts. Buying a call means you are betting that a stock which underlies your option will rise above a certain price within a certain date, which is called the expiration date of the option. The converse applies when you buy a put. When you buy a call or a put, you also have the opportunity to buy or sell 100 shares of the stock that underlies each of the option contracts you had purchased. Here is the procedure to invest in stock options."

Frank Pinter presents No Load Bond Funds posted at Cheapest Bond Funds, saying, "Investment research overwhelmingly shows that lower cost fixed income funds tend to yield higher bond investing returns."

Pierre presents How To Buy Facebook posted at Intelligent Speculator, saying, "We help you buy shares in Facebook."

TRL presents The Number One Reason People Don't Invest in Real Estate posted at The Retired Landlord, saying, "Find out why people don't invest in real estate. It's not just a simple matter of weighing the risks and benefits."

Larry presents Your investment risk tolerance posted at Independent Fee Only Financial Planner , saying, " Individual investors with different levels of investment risk tolerance for financial risks tend to be more satisfied with risk management strategies, which are better aligned with their financial risk and return profile."

Kanwal presents Do You Think Investing is Too Difficult? posted at Simply Investing, saying, "There is a common misconception that people have regarding investing, especially investing in stocks and that is, investing is difficult. Most people believe that investing by themselves is too complicated therefore most folks leave it to the so called professionals."

William presents Superior Mutual Fund Performance posted at No Load Funds , saying, " Screen out inferior mutual fund performance — but only after using other ETF and mutual fund selection criteria. Superior or even average mutual fund performance in the past simply does not predict similar fund performance in the future."

Managing Debt

Mike presents Best Balance Transfer Credit Cards posted at Rewards Cards USA, saying, "Paying credit card interest can hinder your efforts to become debt free. Here are some of the best balance transfer credit cards on the market."

Boomer presents How To Pay Off Your Mortgage Faster posted at Boomer & Echo, saying, "When you pay off your mortgage faster, a big part of your household budget will become available to help you achieve your other financial goals."

Kevin presents Do's and Don'ts with your Credit Card posted at Thousandaire, saying, "The concept behind credit cards is a simple one: charge now, pay later."

John presents Debt to Income Ratio: Not Just for Banks posted at Married with Debt, saying, "What is a debt to income ratio? Is it only for banks? Find out how you can use it to determine how to get out of debt."

Jason presents Broke, Desperate, and Being an Idiot posted at Work Save Live, saying, "I wanted to relive the past a bit more and talk about how my 'financial peace & debt free' journey originally got started."

Real Estate

Lance presents Rental Property - The Decision posted at Money Life & More, saying, "After we had seen the townhouse and determined how much everything would cost my parents, my girlfriend and I sat down in my living room and decided to talk it all out. The first question we asked was why did we want to own this rental property."

Robert presents My Home Appraisal Was Wrong - Now I Have to Appeal posted at My Multiple Incomes, saying, "Last week, after a period of waiting, we got the appraisal back on the house we are looking to buy, and it ended up coming in a full $70,000 below our offer price, and well below fair market value to similar properties inside the same development. SO IRRITATING!!!!!"

Philip presents How to Decide Where to Live posted at PT Money Personal Finance, saying, "We're in the process of closing on a new house. In this post I discuss how we decided where to live and factors one should consider when making the same decision."

Retirement

Debt Guru presents Does Over-Confidence Lead to Debt? posted at Debt Free Blog, saying, "Find out why over-confidence can easily lead to debt. To live debt free, you have to stay humble and diligent. Learn how you can do it."

Corey presents Travel for Pennies: How Rethinking International Travel Can Save You Money posted at Steadfast Finances, saying, "Find out easy and practical steps to travel to great places without breaking the bank."

Frank Knowles presents S and P 500 Funds posted at Large Cap Funds, saying, "The no load index fund strategy of the Schwab S & P 500 Index Fund tracks the S and P 500 stock index. This no load index fund was listed as one of the top 25 lowest cost index mutual funds in a research study."

MMD presents Six Easy Steps to Figuring Out Your Retirement posted at MyMoneyDesign, saying, "When someone says you should save 10% for retirement, what does this actually mean? Will you hit your goals? How do you even know what your goals are? I’d like to offer you my advice for a simple and streamlined introductory approach to figuring out your retirement goals."

Franklin presents Traditional IRA Versus Roth IRA  posted at Better Retirement Planning , saying, " Many taxpayers puzzle over whether to contribute to traditional versus Roth tax-advantaged retirement plans. For most people, contributions to traditional tax-advantaged plans will probably provide a higher net present value over their lifetimes."

Nick presents Should I Convert My Retirement Plan into a Roth? posted at My Dollar Plan, saying, "Is a Roth conversion the right answer? Help me decide!"

Savings

Amanda L Grossman presents Is Your Frugality Invoked to Stretch Dollars or to Stockpile the Savings? posted at Frugal Confessions, saying, "There are two possible outcomes of frugality. One is to stretch your dollar so that you get a lot more in purchases."

Jason presents Tips to Pick a 529 Plan for Your Child’s College Savings posted at One Money Design, saying, "A few tips to help you learn about 529 savings accounts and pick the best one for your child and situation."

TSI presents Hard work determines wealth posted at The Skilled Investor , 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."

Laura presents Wells Fargo Puts Free Checking on the Chopping Block…Again posted at NerdWallet, saying, " Check out NerdWallet’s recommendations for local credit unions in the states affected by the Wells Fargo fee hike. These free accounts have no monthly fees and no minimum balance requirements, and many of them earn competitive interest too."

Mike presents Why Cash Back Beats Travel Rewards posted at Rewards Cards Canada, saying, "A free vacation keeps many Canadians loyal to their travel rewards program, but for me, cash back is king. Here's why cash back beats travel rewards."

Taxes

Paul Tabbet presents Retirement Planning Worksheet Software posted at Tax Planning Software, saying, "Retirement planning software should automate the development of lifetime projections that incorporate tax laws and rules associated with tax-advantaged retirement investment incentive programs such as traditional IRA, Roth, 401k, 403b, SEP, Keogh, and other retirement plans."

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.
Technorati tags: carnival of financial planning, blog carnival.

For more on IdeasYou Can Use, check back on Tuesdays for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2012 Achievement Catalyst, LLC

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.

Technorati tags: carnival of financial planning, blog carnival.

This is not financial advice. Please consult a professional advisor.

Copyright © 2010 Achievement Catalyst, LLC

Carnival of Financial Planning #106 - September 12, 2009

Welcome to the September 12, 2009 Edition #106 of the Carnival of Financial Planning. My thanks to the editor of The Skilled Investor for having My Wealth Builder host this week.

As background, the Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. It 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

Banker Saver presents 4 Financial Tips To Weather The Mortgage Crisis posted at Banker Saver, saying, "We can survive the mortgage crisis with careful planning, spending less and budgeting."

Dorian Wales presents Budget vs. Net Worth posted at The Personal Financier, saying, "While it may be recommended to manage both a budget and net-worth sometimes focus leads to better results."

Susan Savering presents Personal Budget Expenses posted at Family Financial Planners, saying, "When you don't understand how much you spend and how much you save and invest, you do not have a financial plan. This dramatically increases your family’s long-term financial risk."

The Smarter Wallet presents Internet Banking: Compare Online Banks For Your Savings Needs posted at The Smarter Wallet, saying, "Thanks!"

Economics

BWL presents Government redistribution of wealth: posted at Christian Personal Finance, saying, "Should the government be taking from the rich to give to the poor? When the government takes from a rich person to give to a poor person. The rich person isn't giving, but rather they are being taken from."

Roshawn Watson presents The Rich Get Poorer posted at Watson Inc, saying, "The implications of this recent recession have been far-reaching enough to put a big dent in American and world wealth. Both the magnitude of wealth and the number of millionaires decreased profoundly in 2008."

Super Saver presents Expecting Another Bubble posted at My Wealth Builder, saying, "Low interest rates are bound to create another bubble. Hopefully, by expecting one, I can protect our savings better that during the housing and financial crash."

The Smarter Wallet presents Online Business Guide posted at The Smarter Wallet, saying, "Here's how to manage your small business."

Dorian Wales presents On Causality and Correlation in Economics posted at The Personal Financier, saying, "Causality is perhaps the most fundamental element of empirical evidence available to economists. However, it is also the source of many misconceptions due to its elusive nature."

Marc Ryan presents Excess banking profits and pay amidst a financial crisis posted at IndependentInvestor.info, saying, "Increased competition and cost reductions resulting from economies of scale normally reduce prices. For reasons difficult to understand this has not occurred in the mutual fund industry. In comparison, commission rates for brokerage transactions paid by individual investors have diminished since the phenomenon of the big bang and especially since the advent of discount brokers. Overall, before the recent financial crisis there was, not a decrease, but a dramatic increase in overall profits of the financial services industry. What happened? We do a short overview of some articles published in 2009."

Estate Planning

Jeff Rose presents Taking Care of an Elderly Parent posted at Jeff Rose, saying, "Find of what you need to do when you have to become the parent of your parents."

DIY Financial Planning presents Roth Account Estate Planning Strategy posted at Do It Yourself Financial Planning, saying, "There are trade-offs in deciding how to set the proportion to contribute into Roth retirement savings accounts versus making contributions to traditional retirement accounts with tax deferral advantages. An optimal Roth retirement account contribution strategy also becomes an estate planning question. In the majority of personal finance situations, making 100% of allowable Roth contributions may not yield the greatest total estate at age 80, 90, or 100."

Financial Planning

20smoney presents 5 Types Of Diversification Your Financial Advisor Won’t Mention posted at 20s Money, saying, "This article discusses five types of diversification that aren't discussed very often, yet are still very important to consider when financial planning."

Intelligent Speculator presents How Your Advisor Is Compensated posted at The Financial Blogger, saying, "When you meet with a financial advisor, the first question you should ask is how he is compensated."

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."

KCLau presents I achieved financial freedom at 38 posted at KCLau's Money Tips, saying, "This post is contributed by WaiYin, a reader whom I admire very much because she achieved financial freedom at age 38! Here, she shares how she did it."

Four Pillars presents Affordable Refinance Program posted at Quest For Four Pillars, saying, "Making Home Affordable refinance program eases requirements."

Patrick @ Military Money presents How Much Life Insurance Do Military Members Need? posted at Military Finance Network, saying, "Military members may have different life insurance needs than civilians. Here is information regarding how much life insurance military members should buy, and some resources for finding the best life insurance deals."

Susan Savering presents Personal Investing Strategy posted at Family Financial Planner, saying, "When pursuing optimal financial planning and investing strategies and controlling your costs and capital gains taxes, you also need to establish a time-efficient system to monitor, adjust, and adhere to your financial plan."

Financing a Home

Tallahassee Real Estate presents Housing Market Bottom Reached In Tallahassee posted at Tallahassee Real Estate Blog, saying, "It is obviously premature to call the bottom of the market, as we only have a 10 day up-trend. If this ends up being the true real estate market bottom in Tallahassee, you can record August 23rd, 2009 as the day the market turned! I really suspect that we are closing in on the bottom if we have not hit it already. My earlier predictions were for this to occur in November, but I’ll certainly take an earlier result if we can find it."

Alex Fotopoulos presents When to Refinance a Mortgage? posted at My Trader's Journal, saying, "Some key points to consider when refinancing your home."

Financing Education

Emma Taylor presents 100 Useful College Planning Tools for Conscientious Parents posted at Online College.org.

Praveen presents Will Education Follow the Housing Bust? posted at My Simple Trading System, saying, "Tips for students to avoid excessive loans and debt"

Health Care

KCLau presents Withdraw EPF Fund to Pay Insurance Premium? posted at KCLau's Money Tips, saying, "Vincent Lee from Penang generously shares an idea to use your EPF"

Income

The Financial Blogger presents What I Don’t Like About Mary Kay and other Multi Level Marketing (MLM) Companies posted at Gather Little By Little, saying, "someone you know, a good friend, gives you a call and his voice appears as a ray of light over your head; he has found a solution, an easy way to make more money!"

nissim ziv presents How to Negotiate a Job Offer: Salary Negotiations tips posted at Job Interview Guide, saying, "One of the major aspects of a job interview is the job salary. With the changing times and attitudes, discussing job salaries are sometimes overlooked or even ignored."
FMF presents My Jobs, An Interesting Transition posted at Free Money Finance, saying, "Experience is often the best teacher. This post details a real workplace experience and what all of us can learn from it in order to grow our careers."

Zach Scheidt presents Under Armour – Fourth and Long posted at ZachStocks, saying, "Under Armour (UA) has a strong athletic brand, and an expensive stock. The third quarter is the most important period for the company and with consumers spending less it could be a disappointing time for investors. Consider shorting or at least avoiding long positions."

Investing

Dividends4Life presents Dividend Stocks Offer Continuous Feedback posted at Dividends Value, saying, "One of the many reasons I like dividend stocks is because they provide continuous feedback. As time passes, dividend investors see their income grow steadily. Each dividend and dividend increase provides reassurance that the strategy is working."

ABC presents Stock Market Indexes posted at ABCs of Investing, saying, "How different types of stock market indexes work."

jim presents Cheap Stock Trades at Discount Stock Brokers posted at Blueprint for Financial Prosperity.

puneetkapoor2000 presents Indian Stock Fundamental Analysis posted at KuberKhana -Indian Stock Fundamental Analysis, saying, "It is an analysis of the holding company, Network 18 running the popular TV channel CNBC TV 18. Besides fundamentals and valuations, it also touches on corporate governance issues."

Manshu presents China ETF List posted at OneMint, saying, "A list of ETFs that gives investors exposure to China."

SVB presents ETrade Online Brokerage Account: Top Broker Review posted at The Digerati Life, saying, "Thanks!"

Madison presents Ohio 529 College Advantage $25 – $100 Bonus posted at My Dollar Plan, saying, "Have you been planning to start a college savings account for your kids? It's the perfect time to do so with the Ohio 529, rated one of the top 529 plans. They're offering sign up bonuses this fall to open an account."

Alex Fotopoulos presents 9 Stock Picks - September 2009 posted at My Trader's Journal, saying, "Alex put together a list of nine picks he thinks are worth checking out."

Zach Scheidt presents Education Breakdown – An Expensive Short Opportunity posted at ZachStocks, saying, "China Education and Technology Company (EDU) is primed for a sharp decline. Investors have been programmed to expect the company to beat quarterly guidance, but competitive pressure could catch up to EDU."

Super Saver presents Investment Plans for the Rest of 2009 posted at My Wealth Builder, saying, "I'm starting to think that the economic recovery will be slower and longer than current expectations. I believe the next couple months will be telling. Here are my plans."

Mike Piper presents Discount Brokerage IRA Comparison posted at The Oblivious Investor, saying, "A comparison of all the major discount brokerage firms, intended to help you determine the lowest cost place to open an IRA."

ABC presents Investment Real Return posted at ABCs of Investing, saying, "A simple explanation of investment real return."

Larry Russell presents Top No Load Mutual Fund posted at No Load Mutual Funds, saying, "Taken as a whole, the vast body of investment research studies show that there really are better approaches to buying and owning mutual funds and ETFs. You do not need to frantically chase fund performance. Performance chasing simply does not work."

Frank Vertin presents Best Stock Index Fund posted at Best Index Fund, saying, "Buying an S&P 500 index fund through an investment counselor can substantially increase your initial purchasing costs and and drive up your annual management expense fees. Unfortunately, the vast majority of individual investors buy mutual funds and ETFs through brokers and investment advisers. Rarely do financial advisors recommend that you buy index funds with low fees. This is because low cost, no load mutual funds do not pay them as well as loaded, high fee mutual funds."

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."

Tomas Escent presents Quant Investing posted at Nerds on Wall Street, saying, "Think of this book as sort of a Hitchhiker’s Guide to Wired Markets. There are no robots parking cars for six million years, but there are robots trading millions of shares in six milliseconds, so maybe that’s close enough."

Praveen presents India Fund (IFN) Trade Example posted at My Simple Trading System, saying, "An example of how having a trading system gives you an edge, and let's you take advantage of market moves outside of your control."

Dividend Tree presents What is your preference – Aristocrats or Achievers? Dividend Tree posted at Dividend Tree, saying, "The key question here is; are we willing to invest in companies that have still not completed 25 years of dividend growth? All dividend aristocrats were at that stage at some point in time."

The Skilled Investor presents Personal Investment Management posted at Personal Investment Manager, saying, "Investors more easily understand investment costs that are directly measurable, such as fees deducted on investment statements. However, many investors ignore or are unaware of the opportunity costs of their sub-optimal investment behaviors. Opportunity costs are usually much more difficult to measure directly, but these investment costs can be even higher than more visible investment fees."

Managing Debt

Patrick @ Cash Money Life presents Best Student Credit Cards posted at Cash Money Life, saying, "Tips on how students can use credit cards wisely and avoid the trappings of getting into credit card debt. Also includes a list of the top student credit cards."

MoneyNing presents Free Credit Reports posted at Money Ning, saying, "AnnualCreditReport.com should be the only way to get a free credit report."

PT presents How to Effectively Use 0% Balance Transfer Credit Cards posted at Prime Time Money, saying, "Thanks!"

Jeff Rose presents New Credit Card Rules 2009 posted at Jeff Rose.

Eric J. Nisall presents Good Credit Is Important Now More Than Ever posted at Let's Blog Money, saying, "The new credit card laws have already started to take effect, and the credit issuers are also taking steps to protect themselves. This means trouble for consumers."

Miscellaneous

MoneyNing presents How to Break Bad Habits posted at Money Ning, saying, "How many bad habits would you like to break?"

Tom Drake presents Recommended Personal Finance Books posted at The Canadian Finance Blog, saying, "My top 25 personal finance books, anything from investing and portfolio allocation to taxes and saving money."

No Load Bonds presents Bond Index Fund posted at Bond Index Fund, saying, "Simply put, if you pay higher bond mutual fund fees, then these bond management expenses tend just to be a deadweight loss to you. The best bond fund buying strategy is to pick only very low-cost no load bond funds."

FIRE Getters presents Credit Cards In Ireland and Associated Stamp Duties posted at FIRE Finance - A Top Personal Finance and Investing Blog for Early Retirement and Money Management!, saying, "Ireland had the unenviable title of being the only country in the world to impose a credit card stamp duty. And this country earns a lot of revenues by levying this duty on its citizens ....."

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?"

FMF presents When Work and Money Collide posted at Free Money Finance, saying, "What do you do when money issues enter the workplace?"

Retirement Planning

Karen Chan, CFP, University of IL Extension presents Pension Plans At Risk: Employer Bankruptcies, Frozen Plans, Suspended Matching posted at Plan Well, Retire Well, saying, "What happens to your pension benefits if the plan is frozen or your employer goes bankrupt? This post explains guarantees from the Pension Benefits Guarantee Corporation, and how to revise your retirement plan. Five educators in Consumer & Family Economics with University of IL Extension contribute to this blog. Our goal is to provide unbiased, sensible perspectives on investing, retirement planning, and managing your money."

Jeff Rose presents In Service Distribution- 401k Rollover While You’re Still Working posted at Jeff Rose, saying, "If your 401k has you down at work, the in service distribution might be exactly what you need."

Curt presents Here Is Why Inflation and Socialism Will Eventually Fail and Capitalism Will Regain Its Worthy Support posted at PennyJobs.com

Top Stock Index Funds presents Top Stock Index Funds posted at Top 10 Index Fund, saying, "Buy these top 10 very low cost no load S&P 500 index mutual funds directly. You do not have to pay the heavy added expenses of buying through a stock broker, financial adviser, investment adviser, or investment counselor."

Retirement Savior presents Passive Investing Overkill posted at Retirement Savior, saying, "Most investors leave risk-adjusted returns on the table. Learn simple ways for you to improve your portfolio."

Risk Management and Insurance

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."

Savings

Paul Kamp presents More Savings Help posted at Don't Quit Your Day Job - Personal Finance, Economics and Investing, saying, "I wrote this article based upon some coming changes to savings plans in the United States. I like what's coming in 401(k)s, but savings bonds from tax returns feels like a gimmick."

Four Pillars presents Back To School Cell Phone Deals posted at Quest For Four Pillars, saying, "Comparison of the best cell phone deals for students heading back to school."

Taxes

Patrick @ Cash Money Life presents Self Employment Tax Guide posted at Cash Money Life, saying, "Do you know if you owe self employment taxes or not? Use this guide to learn more about self employment taxes – who, when, and how much."

Jeff Rose presents American Opportunity Tax Credit For College posted at Jeff Rose, saying, "The American Opportunity tax credit is a nice step up for parents with kids in college."

DIY Financial Planning presents Tax-Advantaged Retirement Investment Planning posted at Do It Yourself Financial Planning, saying, "In general, if your retirement saving planning allows sufficient annual retirement savings from your earnings, most retirement investment advisers would recommend that you make the full contributions each year into these various plans through out your employment up to when your retire. Even when you find that you cannot deduct from your income taxes your annual contributions to retirement plans, very often it still makes long-term retirement financial planning sense to make those IRA and 401k contributions, since future appreciation of these assets would be sheltered from ongoing taxation."

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.

Technorati tags: carnival of financial planning, blog carnival.

This is not financial advice. Please consult a professional advisor.

Copyright © 2009 Achievement Catalyst, LLC

Carnival Highlights For The Week #11

Here are some of the posts I like from Carnivals of the past week.

The Investors Blog Network (IBN) Festival #5 The Investors Blog Network (IBN) Festival #5 is organized by The BioHealth Investor.	My Festival choice by Breaking the Shackles of the 9 to 5 on the Anatomy of a Stock Trade: Entry Techniques. This is a good post on the technical trading aspects on buying, managing risk and exiting a position in a stock.
The Festival of Frugality #71 is hosted by Money, Matter, and More Musings.	My Festival pick is Frugal vs. Cheap posted at Money Walks. This post is an excellent discussion of the concepts with examples showing the difference.
The Cavalcade of Risk # 24 is at The Digerati Life.	This is an excellent Carnival, with many great articles. I narrowed my Carnival selections to the following two. The first is by Brazen Careerist tells us that You Don’t Need To Love Risk-Taking To Start Your Own Business. I like the key points in this post: Start with existing skills and assets, be flexible, find a partner (mentor), focus on what's important and have a positive attitude. The second is by Personal Finance Advice which tells us about Understanding Disability Income Insurance. This post is an excellent detailed introduction to disability income insurance, which is more likely to be needed more than life insurance during one's working years.
The Carnival of Financial Planning #2 is hosted by The Skilled Investor Blog.	My Carnival pick is Stocks Vs Real Estate, Winning Investment Strategies posted at The Digerati Life, which compares six areas of consideration when comparing the stocks to real estate. Her post convinced me that the real estate investment practice of personally buying and renting property to a tenant should be considered a small business instead of an "investment," since it may require frequent effort to have a positive return.

I hope you enjoy reading these Carnivals and finding ideas you can use.
Check back on Saturday for the next Reflections and Musings segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2007 Achievement Catalyst, LLC

Carnival Highlights For The Week #10

Here are the Carnivals from this past week that I am reading :

The Carnival of Personal Finance #96 is organized by All Financial Matters.	My Carnival choice is Maxing Out Retirement = Saving Too Much? by Personal Finance Advice, which numerically addresses the question of whether someone saved (and sacrificed) "too much" in a specific example. His conclusion estimated the person was saving about 15% of a $100,000+ salary, and was able to do so and "still have fun." The concept of over saving and over sacrificing is one of the hot topics in the Personal Finance Blogosphere. My personal bias is that a better future always requires some sacrifice - e.g. getting higher education for a better paying job, foregoing some things for a comfortable retirement. As long as I can eat well, have good shelter and be safe, I don't actually need too much more :-)
The inaugural edition of the Carnival of Financial Planning is hosted by The Skilled Investor.	My Carnival pick is 15 Financial Lessons from the Demise of Anna Nicole Smith (Yes, I’m Serious) presented at Credit Card Lowdown, which shares 15 estate planning tips learned from her situation. While some of the tips may have more relevance for Ms. Smith's situation (e.g. - don't do drugs), the following were ones that were relevant to me: 2. Hire a good lawyer. 3. Draw up a proper will. 4. Include contingencies in your will or trust. 5. Don't procrastinate. 6. Beware of estranged relatives. 12. Appoint guardians for minor children. 13. Set up trusts.
The Carnival of Education #115 is at Dy/Dan.	My Carnival selection is by What It's Like On The Inside, who wonders How Did We Survive To Adulthood? without car seats, safety belts, bicycle helmets, rubberized playground mats, and hand sanitizers during our childhood. While I would never not use a car seat, safety belt, or a bike helmet for our daughter, I can't help but wondering if we are creating a "less careful" adult population in the future. The same principle can probably be applied to children who are "protected" from making financial choices while growing up.

I hope you enjoy reading these Carnivals and finding ideas you can use.

Check back on Saturday for the next Reflections and Musings segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2007 Achievement Catalyst, LLC