Carnival of Financial Planning – Edition #158 – September 25, 2010

Best Personal Financial Planning and Personal Investment Articles this Week from Personal Finance Blogs

Welcome to the September 25, 2010 Edition #158 of the Carnival of Financial Planning.

The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security.

This edition is arranged by subject heading, so that you can browse efficiently.

Enjoy!

The Skilled Investor, Editor

Budgeting and Economics

Joe Plemon presents Five Steps Toward Automating Your Way to Wealth posted at Personal Finance By The Book, saying, “Will power won’t get the job done, but automating your finances will. This post tells how.”

Lauren Mendel presents How the Rich Roll posted at Richly Reasonable, saying, “Sensationalism is entertaining. Perhaps that is why so many people cling to the images of millionaires spending beau coup bucks in outrageous ways and think that that is how the rich really behave. The truth is that high net-worth individuals do spend, save and accumulate their money differently than the average Joe and Joan, just not in the way that most people think.”

Mike @ Green Panda presents The $7.27 Mistake Plus Ways To Avoid It posted at Green Panda Treehouse, saying, “How to make the most out of your money when going out.”

Khaleef @ KNS Financial presents How to Create a Budget – Evaluate Expenses posted at Faithful With A Few, saying, “Establishing goals and setting up a budget is not the end. You must now evaluate your spending to be sure that your money is working toward your goals!”

MoneyNing presents Money Mistakes That (Mostly) Women Make posted at Money Ning, saying, “Women are prone to make certain money mistakes more often than others.”

The Skilled Investor presents Save More posted at Personal Financial 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.”

Roshawn Watson presents Economists Blame ME for the Slow Recovery posted at Watson Inc, saying, “We are responsible with our money, yet instead of admiration (or even understanding), these efforts garner contempt as the frugal once again get the blame for dismal economic activity.”

Mike @ Green Panda presents The Liquidity Trap: How The US Economy Will Come Back posted at Green Panda Treehouse.

Estate Planning

My Journey presents Please Don’t Use an Automated System to Draft Your Last Will and Testament posted at My Journey to Millions, saying, “Having your Will drafted by an automated online system could be disastrous to your estate plan”

Financial Planning

Intelligent Speculator presents Could Facebook avoid an IPO forever? posted at Intelligent Speculator.

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.

Sustainable Life Blog presents Prioritizing Goals? posted at Sustainable Life Blog, saying, “Wondering where to turn when starting to attack debt? Here’s a quick guide on how to help you prioritize your goals.”

jim presents Review Your Credit Reports Every Year posted at Identity Theft Wall.

Larry Russell presents Best No Load Mutual Funds posted at Best 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.

One Family presents A Peek Into Our Roadmap to Financial Independence posted at One Family’s Blog, saying, “A look at relocating to a less expensive place as a way to achieve financial independence.”

Frank Knight presents Asset Allocation Strategy posted at Best Personal Financial Planning Software, saying, “When you are already there and invested in an asset class, you are following a passive asset allocation strategy. Tactical asset allocation strategy advocates suggest that you can anticipate the crowd, but flow-of-funds studies show that almost all tactical asset allocation fund flows are late money flows that chase performance after valuations have already moved.”

Health Care

Ben presents Health Savings Account Guide posted at Money Smart Life.

Financing Education

Ryan @ MFN presents Can You Get a Montgomery GI Bill Refund? posted at The Military Wallet, saying, “The Montgomery GI Bill is usually a use it or lose it benefit. But some veterans may now be eligible to receive a refund on their MGIB.”

Ryan @ CML presents Where to Open a Coverdell ESA Plan posted at Cash Money Life, saying, “Coverdell ESAs are a college savings account that have great tax advantages. This info can help you find a great place to open your Coverdell ESA.”

Health Care

Hank presents Health Care Reform And What It Means For You posted at Money Q&A, saying, “What do you need to know from the current health care reform in Washington?”

Income

Craig Ford presents How to Make Money Selling eBooks posted at Money Help For Christians, saying, “This post shares the steps I use to generate an online income by selling eBooks online.”

MoneyNing presents 15 Ways to Earn Extra Money posted at Money Ning, saying, “There are lots of ways to make more money. Here are 15 to start you off.”

Investing

FMF presents The Diversification Decision posted at Free Money Finance, saying, “How to deal with diversification with your investments.”

Super Saver presents Choosing Data Analysis over Emotion posted at My Wealth Builder, saying, “Typically, I like discipline of relying on the data.”

Praveen presents Caveat Emptor: If An Investment or Opportunity Appears Too Good To Be True, Beware! posted at My Simple Trading System, saying, “Beware of investment opportunities that seem to be too good to be true.”

MoneyNing presents Second Recession: Don’t Let Fear Take Over posted at Money Ning, saying, “Whatever the circumstances, allowing fear to creep in will only make the situation worst.”

FMF presents The Active versus Passive Decision posted at Free Money Finance, saying, “The case for why passive investing beats active investing.”

DGB presents Dividend Investing With Less Than $1,000 – Part 5; What To Look At When Buying Stocks posted at The Dividend Guy Blog.

Ryan @ CML presents What Are Stock Options? posted at Cash Money Life, saying, “A simple primer to better understand stock options and related terminology.”

Praveen presents Bought General Dynamics (GD) Today posted at My Simple Trading System, saying, “Analysis of General Dynamics stock”

Dan presents The 7 Deadly Sins of ETF Investing – Are You Guilty? posted at ETF Base, saying, “ETFs are better than mutual funds and stocks in many aspects, but there are several risks and downsides many investors are unaware of ranging from futures roll to how leveraged ETFs. Learn about the 7 Deadly Sins of ETFs.”

The Skilled Investor presents Stock Market Timing posted at Personal Investment 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.”

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 Financial Blogger presents Best 50 Canadian Dividend Stocks posted at The Financial Blogger, saying, “With the plethora of dividend stocks out there, here are the best 50 canadian dividend stock picks.”

Tomas Escent presents Stock Trader Automation posted at Nerds on Wall Street

Frank Knight presents Muni Bond Financial Software, posted at Best 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.”

Silicon Valley Blogger presents Investing For Beginners: Basic Steps To Start Investing posted at The Digerati Life, saying, “Some starting points for first time investors.”

Writers Coin presents Investors with Babies Outperform Everybody Else posted at The Writer’s Coin, saying, “Want to become a better investor? Have a baby! Here are some tips that apply to both having a baby and investing your money.”

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.”

Barb Friedberg presents A Sneak Peak; Inside Barbara Friedberg’s Personal Portfolio-Part 1 posted at Barbara Friedberg Personal Finance, saying, “Get the basics of risk vs. return in this engaging article. Learn from my experience how to boost returns and manage risk.”

Frank Vertin presents Top Index Funds posted at Index Mutual Funds, saying, “Top ten no load index funds that track the Standard and Poors 500 composite index in terms of lowest costs.

Dividends4Life presents 12 Stocks Raising Their Dividends posted at Dividends Value, saying, “When it comes to selecting dividend stocks, one of the most important items to look for is consistency in raising dividends. Sure it is easy to increase dividends when the economy is booming and business is good, but to be consistent a company has to persevere and continue to increase dividends even during the tough times.”

Managing Debt

freefrombroke presents Buying Stuff on Credit is Expensive [Infographic] posted at Free From Broke, saying, “A revealing graphic showing how expensive your credit card debt can really be.”

Madison DuPaix presents There’s No Such Thing as Bad Debt posted at My Dollar Plan, saying, “One of the biggest debates in personal finance revolves around “good” and “bad” debt. This article is really thought-provoking and encourages you to not define “good” and “bad” by the asset underlying the debt.”

Silicon Valley Blogger presents Chase Credit Cards: Review of Freedom, Slate & Sapphire posted at The Digerati Life, saying, “A look at some top credit cards from Chase and what they have to offer.”

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.”

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

Aaron presents 7 Things You Need To Know About Prepaid Cards posted at Prepaidcards123.

Tim Chen presents NerdWallet’s Best Rewards Card Roundup, Fall 2010 Edition posted at NerdWallet Blog – Credit Card Watch, saying, “At NerdWallet, we don’t believe that credit cards are one-size-fits-all. Here we break down some of our favorite rewards cards by lifestyle and category, so there’s something for all types.”

Roshawn Watson presents Why Is Debt Really Decreasing? posted at Watson Inc, saying, “In the first quarter of 2008, our debt to disposable income peaked at a staggering 131%. This means for every dollar we earned, we spent $1.31. As of March, our debt as a share of our annual income is presently 122%. If you think this change indicates that we have collectively been so scarred by the “Great Recession” that we are now behaving fiscally responsible, think again. There is a surprising and sad reason why our debt has gone down. Hint, it has nothing to do with frugality.”

Jeff Weber presents Credit Counseling vs. 0% Balance Transfers posted at Smart Balance Transfers, saying, “This article discusses when people should stop using 0% balance transfer credit cards and start considering credit counseling as a means to escape credit card debt.”

Miscellaneous

Tom @ Canadian Finance Blog presents Purchase a Vacation Property in the US posted at The Canadian Finance Blog, saying, “The recent collapse in US home prices has provided an excellent opportunity for Canadians to purchase a vacation property in the US.”

Joe Plemon presents Three New Car Purchases to Steer Away From posted at Personal Finance By The Book, saying, “Sometimes a new car is exactly what you don’t need. This post gives three such times.”

nissim ziv presents What Is Your Greatest Accomplishment? Interview Question and Answer posted at Job Interview Guide, saying, “Why the interviewer will ask you about previous accomplishments? He may be asking about what you did in the past, but what he actually will want to clarify is what you can do for the company now (based on your experience and achievement, it is like- if you did it once, you can do it again.”

Pasadena Financial Planner presents Vanguard’s Investment Performance posted at Top Mutual Funds, saying, “Compares Vanguard’s actively managed mutual funds and Vanguard’s passively managed index mutual funds. Vanguard investors should read and understand this study.”

Retirement Planning

studenomist presents 5 Things You Need To Know About The 401K posted at studenomics.com.

Ryan @ CML presents Compare Traditional and Roth 401k posted at Cash Money Life, saying, “Does your company offer a Roth 401k plan? How do the benefits compare to your traditional 401k plan?”

Consumer Boomer presents Distribution Rules For Roth IRA posted at Consumer Boomer, saying, “The Roth IRA is an excellent tool to invest and save money toward retirement. Find out what unique benefits a Roth IRA offers.”

Jeff Rose, CFP presents 5 Financial Goals for Baby Boomers posted at Jeff Rose, saying, “For Baby Boomers, what financial goals should be most important, especially during these difficult economic times? Here are five smart financial goals for Baby Boomers.”

Jules Wells presents Retirement Planning Calculator-Retirement Savings Software, posted at Retirement Income 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 @ MFN presents Roth IRA Rules posted at The Military Wallet, saying, “Rules for Roth IRAs, including who can contribute, contribution limits, withdrawal rules, and more.”

Larry Russell presents Roth IRA Conversion posted at Personal 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.”

Jason presents Roth IRA Early Withdrawal Rules posted at The Roth IRA Guide, saying, “A major advantage to investing in a Roth IRA is that early withdrawals attract no penalties, so long as certain requirements are met. Further, Roth IRA rules allow individuals to withdraw the contributions they have made into the account at any time.”

Walter W. Fouse presents Top Ten Large Cap Core Mutual Funds posted at Best No Load Funds, saying, “This table of low cost top 10 S&P 500 mutual funds has been organized with the lowest cost index fund first. Nevertheless, each of these S & P 500 index funds is among the least costly on the market.”

Super Saver presents Why Work in Retirement posted at My Wealth Builder, saying, “While working in retirement may sound like a contradiction of terms, I have found it beneficial to do so.”

Neal Frankle presents Retirement Lump Sum ? Your Best Choice? posted at Money Management Advice, saying, “Retirement Lump Sum …How To Decide If It’s Your Best Choice These days, a retirement lump sum isn’t as attractive as it used to be (when compared to an annuity payout).”

Frank Knight presents Roth IRA ConversionFinancial Planning Software posted at My 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.”

Hussein Sumar presents Top 5 Retirement Myths posted at Roth IRA, saying, “Planning for retirement is a topic that is not on the minds of many people because, well it is too boring. Some people would rather spend a 1 hour extra of their day in the gym working out or socializing than talking to a financial advisor about their retirement goals. In this article, we explore 5 myths that you should get out from your head in order to practically prepare for a smooth retirement. As life expectancy continues to rise (people are living longer), you have to plan at what age will you realistically be able to retire and how much of a nest egg you will need. Will you need $1 million, $2 million or more? Well it all depends on your lifestyle, your goals, your financial obligations and more.”

Risk Management and Insurance

The Financial Blogger presents A Few Tips To Protect Yourself Against Bonds Collapse posted at The Financial Blogger.

Consumer Boomer presents Term Life Quotes posted at Consumer Boomer, saying, “When you purchase an insurance policy it is important to know exactly what you are buying. Here is some important information about Term Life quotes.”

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)”

Jim & Martha presents Is Vacation Trip Cancellation Insurance Worth It? posted at Wanderlust Journey.

Jules Wells presents Investment Risk Tolerance Questionnaire Financial Planning Software, posted at Financial Answers saying, “There is a way for you to get a much better assessment of your risk tolerance than you would from a simple conservative versus aggressive financial industry investor questionnaire.”

Savings

Jeff Rose, CFP presents College Money Saving Tips For Every Tight Budgeted Family posted at Jeff Rose, saying, “There are a number of things that you can do to bring down the cost of college. Here are a few money saving tips.”

KCLau presents Are You Rich in Internal Assets? posted at KCLau’s Money Tips, saying, “pay attention to the internal assets.”

Taxes

Jeff Rose, CFP presents Tax Deductions When Looking for a New Job posted at Jeff Rose, saying, “Some costs of a job hunt may be tax deductible when you file your income tax return. Read this article to find out what those tax dedctible costs are.”

Darwin presents Apparently, Americans DO Care About “The Rich” – Half Support Tax Cuts for “Top 2%” posted at Darwin’s Money, saying, “Contrary to what you may hear in the press, fully half of Americans are actually concerned about cutting taxes solely on the top 2%. Here’s why.”

Jason @ Redeeming Riches presents 8 Exceptions to the 10% Penalty for an Early IRA Withdrawal posted at Redeeming Riches, saying, “Uncle Sam would love for you to hand him an extra 10% on your withdrawals. Read how you can withdraw from your IRA without penalty!”

Intelligent Speculator presents Please do not let the Bush tax cuts expire posted at Intelligent Speculator, saying, “It may be easier to take the popular position and have the Bush tax cuts expire, but I personally think otherwise.”

Mike Piper presents Deducting an IRA Loss (Roth or Traditional) posted at The Oblivious Investor, saying, “Under what circumstances can an investor deduct a loss in an IRA?”

Madeleine Begun Kane presents Tax Cut Tomfoolery posted at Mad Kane’s Political Madness, saying, “Commentary and three-verse limerick about the Bush tax cuts and whether they should be renewed.”

Tax Debt Help presents Be Cognizant of Federal Gift Tax Law posted at Tax Debt Help.

Financial Freedom presents Roth IRAFinancial Software, posted at 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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