. I'm not looking forward to the bust!
Monday, 28 February 2005
Review of Harry Dent's New Book
My friend, Jack, at the Stocks or Bonds blog has just put out a review of Harry Dent's newest book The Next Great Bubble Boom, How to Profit from the Greatest Boom in History: 2005-2009. I'm not looking forward to the bust!
. I'm not looking forward to the bust!
The Guide to the AllThingsFinancial Links
March 4 update
Blog Links
Ageless Marketing - An interesting marketing blog that covers practically everything about marketing.
Another Personal Finance Website - Just as the name implies. I don't have a better description than that.
Asset Allocator - This is a blog by my new friend Chuck (AKA the AssetMan!). This blog takes the place of the now defunct Investing Bits & Pieces. Chuck is a CFA and puts out some interesting stuff. Oh, and PLEASE, for the love of God subscribe to his site!
Blogging About Blogs - This is one of my favorites. It is published by a guy named Ken Leebow. His mission is to search out the best offering on the web and then write about them. He updates several times a day. Fortunately, he uses RSS so you can track him with your Bloglines account.
Bloggin' Wall Street - A blog about Wall Street and investing. Updated several times a day. This guy has a nack for good writing. I wish I could articulate as well as he does.
Blueprint for Financial Prosperity - A blog I just recently found. He posts some pretty interesting stuff. I like his post about mutual funds.
The Budgeting Babe - Interesting blog written by a woman named Nicole. She too, has a talent for writing. She updates her site two or three times a week.
Canadian Capitalist - Here's the description he gives on his blog: "A record of my personal financial experience in Saving, debt management and investing (with emphasis on Canadian content)."
Capital Ideas - This is a nice blog authored by a "23 year-old cubicle dweller." I'm jealous of his writing ability.
Consumerism Commentary - Written by a guy named Flexo (I'm sure that's an alias). Who is Flexo? "Flexo is the evil Bender. Aside from that, he's single and almost 30. That's all you need to know for now." - According to Flexo, himself.
Frugal for Life - A blog dedicated to all things frugal.
G's Investing - An investing blog that is updated once a week or so.
In Praise of Thrift - Written by a guy named Henry Bemis. It is about his personal finance voyage from being deep in debt to his goal of $1,000,000. I like this site and check in on Henry frequently.
It's Your Money - Money Musings - A cool blog. Here's what his description is: "Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof)." Bookmark (or add it to your Bloglines account) this site and check back frequently.
The Kirk Report - An excellent and very popular investing blog. This site was even mentioned in Barron's as a great blog. He does syndicate his site (http://www.thekirkreport.com/index.rdf) so you can add him to your Bloglines (or whatever feed site you use) account. Thanks to Mike at TraderMike for helping me out with that one.
The Learning Curve by Muck Dog - Muck Dog? What a name (I wonder if it's an alias?). This site has a little bit of everything.
Man on a Mission - This is my other blog about mission statements. It is my goal to have mission statements from all types of companies, charities, and individuals as well as helpful hints on creating your own mission statement. Life without a mission just isn't worth living.
My Money Blog - Well, it's not MY money blog. It is Jonathan's actually. It is a blog about goal-setting and achieving. Here's Jonathan's description: "Stumbling along the path to financial freedom. Goals: $100,000 by mid-2007, $1,500,000 by age 55."
Neville's Financial Blog - Neville is a college student, graduating this Spring. This blog tracks his financial journey.
New Age in Personal Finance - A pretty new blog. His blog is about "Our financial journey toward early retirement and lessons learned along the way." He posts some pretty interesting stuff. He also has it RSS ready so you can add him to your Bloglines account.
PFBlog - This guy has put together a pretty nice personal finance site. He just did a re-design (which I think looks very nice). He takes the time to address important personal finance issues.
Phat Investor - This is actually a blog search engine. You can actually search blogs by ticker symbols. This is a great site to bookmark and refer back to daily.
Random Roger's Big Picture - I just found this site last night. Here's what Roger says his blog is about: "This is a stock market blog about portfolio management, navigating the current market environment, how to analyze and choose foreign stocks, exchange traded funds, options and the occasional musing about my wildland firefighting experiences. The point here is to share my process of analyzing markets and stocks. Hopefully you can learn a little from my approach even if you disagree with me on everything. I have nothing to sell, I just enjoy the writing."
The Real Returns - I'm glad I found this blog. This guy always has something interesting to say. I just wish I could make tables the way he does.
Savvy Saver - I like this blog (of course I do, I wouldn't post a link to it if I didn't!). She says: "No one ever says "when I grow up I want to live paycheck-to-paycheck", yet so many people do. I believe the fundamental building block to personal prosperity is learning to live below your means. It's not how much you make, but how much you keep." Makes a lot of sense to me.
Seeking Alpha - This is actually one of six blogs by this guy. Once you see this site, you will see what a mammoth undertaking it was to create it. This site is huge. He has an excellect Exchange-traded funds resource page.
Dan Sherman - The man with ideas. Check it out, you'll see what I mean.
Show Me the Money - This site is mostly about investing. He has some pretty cool ideas. But, PLEASE read his disclaimer first!
Simplify My Life - An online financial journal. Interesting stuff.
Stocks or Bonds - A blog with lots of indepth articles about various financial topics.
Taylor Tree - This is a trading blog. I'm not an advocate of day trading but I do realize that some technical training can come in handy. This is a cool blog.
Trader Mike - All about stock trading.
Well Spent (a Business Week blog) - A blog written by Amey Stone, a Senior Writer for Business Week Online. I just wish I could get my blog listed on their "Recommended Blogs" section. Maybe, just maybe my readers will help me out!?
Blog Links
Ageless Marketing - An interesting marketing blog that covers practically everything about marketing.
Another Personal Finance Website - Just as the name implies. I don't have a better description than that.
Asset Allocator - This is a blog by my new friend Chuck (AKA the AssetMan!). This blog takes the place of the now defunct Investing Bits & Pieces. Chuck is a CFA and puts out some interesting stuff. Oh, and PLEASE, for the love of God subscribe to his site!
Blogging About Blogs - This is one of my favorites. It is published by a guy named Ken Leebow. His mission is to search out the best offering on the web and then write about them. He updates several times a day. Fortunately, he uses RSS so you can track him with your Bloglines account.
Bloggin' Wall Street - A blog about Wall Street and investing. Updated several times a day. This guy has a nack for good writing. I wish I could articulate as well as he does.
Blueprint for Financial Prosperity - A blog I just recently found. He posts some pretty interesting stuff. I like his post about mutual funds.
The Budgeting Babe - Interesting blog written by a woman named Nicole. She too, has a talent for writing. She updates her site two or three times a week.
Canadian Capitalist - Here's the description he gives on his blog: "A record of my personal financial experience in Saving, debt management and investing (with emphasis on Canadian content)."
Capital Ideas - This is a nice blog authored by a "23 year-old cubicle dweller." I'm jealous of his writing ability.
Consumerism Commentary - Written by a guy named Flexo (I'm sure that's an alias). Who is Flexo? "Flexo is the evil Bender. Aside from that, he's single and almost 30. That's all you need to know for now." - According to Flexo, himself.
Frugal for Life - A blog dedicated to all things frugal.
G's Investing - An investing blog that is updated once a week or so.
In Praise of Thrift - Written by a guy named Henry Bemis. It is about his personal finance voyage from being deep in debt to his goal of $1,000,000. I like this site and check in on Henry frequently.
It's Your Money - Money Musings - A cool blog. Here's what his description is: "Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof)." Bookmark (or add it to your Bloglines account) this site and check back frequently.
The Kirk Report - An excellent and very popular investing blog. This site was even mentioned in Barron's as a great blog. He does syndicate his site (http://www.thekirkreport.com/index.rdf) so you can add him to your Bloglines (or whatever feed site you use) account. Thanks to Mike at TraderMike for helping me out with that one.
The Learning Curve by Muck Dog - Muck Dog? What a name (I wonder if it's an alias?). This site has a little bit of everything.
Man on a Mission - This is my other blog about mission statements. It is my goal to have mission statements from all types of companies, charities, and individuals as well as helpful hints on creating your own mission statement. Life without a mission just isn't worth living.
My Money Blog - Well, it's not MY money blog. It is Jonathan's actually. It is a blog about goal-setting and achieving. Here's Jonathan's description: "Stumbling along the path to financial freedom. Goals: $100,000 by mid-2007, $1,500,000 by age 55."
Neville's Financial Blog - Neville is a college student, graduating this Spring. This blog tracks his financial journey.
New Age in Personal Finance - A pretty new blog. His blog is about "Our financial journey toward early retirement and lessons learned along the way." He posts some pretty interesting stuff. He also has it RSS ready so you can add him to your Bloglines account.
PFBlog - This guy has put together a pretty nice personal finance site. He just did a re-design (which I think looks very nice). He takes the time to address important personal finance issues.
Phat Investor - This is actually a blog search engine. You can actually search blogs by ticker symbols. This is a great site to bookmark and refer back to daily.
Random Roger's Big Picture - I just found this site last night. Here's what Roger says his blog is about: "This is a stock market blog about portfolio management, navigating the current market environment, how to analyze and choose foreign stocks, exchange traded funds, options and the occasional musing about my wildland firefighting experiences. The point here is to share my process of analyzing markets and stocks. Hopefully you can learn a little from my approach even if you disagree with me on everything. I have nothing to sell, I just enjoy the writing."
The Real Returns - I'm glad I found this blog. This guy always has something interesting to say. I just wish I could make tables the way he does.
Savvy Saver - I like this blog (of course I do, I wouldn't post a link to it if I didn't!). She says: "No one ever says "when I grow up I want to live paycheck-to-paycheck", yet so many people do. I believe the fundamental building block to personal prosperity is learning to live below your means. It's not how much you make, but how much you keep." Makes a lot of sense to me.
Seeking Alpha - This is actually one of six blogs by this guy. Once you see this site, you will see what a mammoth undertaking it was to create it. This site is huge. He has an excellect Exchange-traded funds resource page.
Dan Sherman - The man with ideas. Check it out, you'll see what I mean.
Show Me the Money - This site is mostly about investing. He has some pretty cool ideas. But, PLEASE read his disclaimer first!
Simplify My Life - An online financial journal. Interesting stuff.
Stocks or Bonds - A blog with lots of indepth articles about various financial topics.
Taylor Tree - This is a trading blog. I'm not an advocate of day trading but I do realize that some technical training can come in handy. This is a cool blog.
Trader Mike - All about stock trading.
Well Spent (a Business Week blog) - A blog written by Amey Stone, a Senior Writer for Business Week Online. I just wish I could get my blog listed on their "Recommended Blogs" section. Maybe, just maybe my readers will help me out!?
Passed the 3,000 Hit Mark
Well, this little blog has finally passed the 3,000 hit mark! To the experienced bloggers out there, this isn't a big deal. But, to me it is. Now I'm only 997,000 hits away from my goal!
Update - Monday, February 28th, 2004
Well, today I get to spend the bulk of my time trying to figure out what is wrong with my wife's car. Actually, my mechanic will be spending time trying to figure it out. That's what he gets
paid for.
So, I probably won't be able to post until later today.
Meanwhile, check out this interesting post by Murray over at the Capital Ideas Blog. I thought he did a really nice job talking about mutual funds and taxes.
Also, like all bloggers, I'm trying to build readership. If you are new to this site and like what you see, please tell your friends about it. Also, don't forget that you can subscribe (also known as Syndication) to this site using an RSS reader like Bloglines.
Gotta run. Have a great day.
paid for.
So, I probably won't be able to post until later today.
Meanwhile, check out this interesting post by Murray over at the Capital Ideas Blog. I thought he did a really nice job talking about mutual funds and taxes.
Also, like all bloggers, I'm trying to build readership. If you are new to this site and like what you see, please tell your friends about it. Also, don't forget that you can subscribe (also known as Syndication) to this site using an RSS reader like Bloglines.
Gotta run. Have a great day.
Friday, 25 February 2005
Trusts & IRAs
Let's say you have worked your entire life, been a good saver and investor and built up a nice nest egg. Let's say this nest egg is in a Roth IRA. Let's also say you were older when you had kids. You're 65 and your oldest of three kids is 35 years old.
You have read and studied up on IRAs and you are aware that you can pass on your Roth IRA to your kids and your kids can then stretch out their inherited IRAs over their lifetimes, allowing them to build the IRA into a sizeable nestegg over their lifetimes. But, you have concerns that they will simply cash out the IRA upon inheritance and blow it on a Ford Thunderbird. Is there anything you can do about it?
Yep, there sure is! It is called a trust. You can set up a trust, with the help of an astute estate planning or trust attorney, that will give you some control as to how much and when your kids can spend their inheritance. This is a great way to send the message "I'll always be around!" Your kids may not like it, but it is for their own good.
But, before you go off signing some expensive trust document, you better arm yourself with some important information first. If you mess it up, you could ruin your kids' opportunity to stretch their IRAs, defeating the whole purpose of the trust in the first place.
The very first thing you should do is read Ed Slott's Parlay Your IRA Into a Family Fortune
. Read it from cover to cover. Then and only then will you be prepared to meet with an attorney. In fact, the book may give you information that your attorney may not even know yet! I'm serious about that. The concept of the stretch IRA is still pretty new and a lot of attorneys and CPAs have not yet grasped the significance of this concept. So, be prepared to educate them!
That's it for now. In my next few posts, I'll share with you what I know about trusts and what to be aware of. Keep in mind, I AM NOT AN ATTORNEY. I'm simply sharing helpful tips.
You have read and studied up on IRAs and you are aware that you can pass on your Roth IRA to your kids and your kids can then stretch out their inherited IRAs over their lifetimes, allowing them to build the IRA into a sizeable nestegg over their lifetimes. But, you have concerns that they will simply cash out the IRA upon inheritance and blow it on a Ford Thunderbird. Is there anything you can do about it?
Yep, there sure is! It is called a trust. You can set up a trust, with the help of an astute estate planning or trust attorney, that will give you some control as to how much and when your kids can spend their inheritance. This is a great way to send the message "I'll always be around!" Your kids may not like it, but it is for their own good.
But, before you go off signing some expensive trust document, you better arm yourself with some important information first. If you mess it up, you could ruin your kids' opportunity to stretch their IRAs, defeating the whole purpose of the trust in the first place.
The very first thing you should do is read Ed Slott's Parlay Your IRA Into a Family Fortune
. Read it from cover to cover. Then and only then will you be prepared to meet with an attorney. In fact, the book may give you information that your attorney may not even know yet! I'm serious about that. The concept of the stretch IRA is still pretty new and a lot of attorneys and CPAs have not yet grasped the significance of this concept. So, be prepared to educate them!That's it for now. In my next few posts, I'll share with you what I know about trusts and what to be aware of. Keep in mind, I AM NOT AN ATTORNEY. I'm simply sharing helpful tips.
Is There Such a Thing as Good Debt?
My friend, Michael over at the It's Your Money blog posted about a book that just came out called Good Debt, Bad Debt
, by Jon Hanson. I haven't read the book yet, but it got me to thinking, is there really such a thing as good debt?
From a clearly economic viewpoint, I would have to say that yes, there really is good debt. What is good debt? Well, a mortgage is good debt (as long as you don't take on more than you can handle). In fact, I am of the opinion that if the interest rate is low enough, a person should not hurry to pay off the loan. It doesn't make sense to me for a person pay off a low interest loan with money that could be invested at a higher rate of return. (I posted about this back in October)
Anyway, that's my two cents worth.
, by Jon Hanson. I haven't read the book yet, but it got me to thinking, is there really such a thing as good debt?From a clearly economic viewpoint, I would have to say that yes, there really is good debt. What is good debt? Well, a mortgage is good debt (as long as you don't take on more than you can handle). In fact, I am of the opinion that if the interest rate is low enough, a person should not hurry to pay off the loan. It doesn't make sense to me for a person pay off a low interest loan with money that could be invested at a higher rate of return. (I posted about this back in October)
Anyway, that's my two cents worth.
Thursday, 24 February 2005
Here's Another Cool Blog
It's called Capital Spectator. I would call it an ecomonics blog. Anyway, check it out and bookmark it. You'll want to keep up with what this person has to say.
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