Carnival of Financial Planning – Edition #140

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

Carnival of Financial Planning – Edition #140 – May 9, 2010

Welcome to the May 9, 2010 Edition #140 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

BIFS presents Multiple Accounts for Easy Budgeting posted at Budgeting in the Fun Stuff, saying, “This post explains why we use multiple accounts as our budgeting strategy. It also lists what accounts we have. I was surprised with how many of my readers operated the same way.”

Consumer Boomer presents How Will Obamacare Affect Your Small Business? posted at Consumer Boomer, saying, “Will health care reform mean headaches, increased costs, and penalties … or hidden dividends?”

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.”

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.”

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.”

2 Cents presents Shareholders vs. Stakeholders: Skipping Steps Is Costly posted at Balance Junkie, saying, “How shareholder capitalism is (and should be) giving way to customer-driven capitalism.”

The Skilled Investor presents Saving Money posted at Personal Finance Decisions, saying, “The most dominant determinants of your long-term financial well-being are how much you earn, spend, budget, and save. 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.”

Estate Planning

Jeff Rose, CFP presents How To Select a Guardian for Your Children posted at Jeff Rose.

FMF presents Your Parents’ Estate Plan Part 2: What You Need to Know posted at Free Money Finance, saying, “Helping your parents through estate planning issues.”

Financial Planning

The Wise Squirrel presents Get off the Canvas: 10 Steps to a Personal Finance Recovery posted at Squirrelers, saying, “Article on how to recover from financial problems due to a major life event – personal or economy-related. Focus on getting back on one’s feet.”

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.”

Big Cajun Man presents Personal Finance Resolutions for the New Year? posted at Canadian Personal Finance Blog, saying, “Are Financial New Years resolutions a good idea? Yes, but make them achievable, don’t try to boil the ocean, just take small steps!”

Super Saver presents Understand the Rules First Before Bending Them posted at My Wealth Builder, saying, “Fundamental financial principles should be understood before considering complex financial products.”

Roshawn Watson presents Through the Looking Glass posted at Watson Inc, saying, “Do you really believe in a world of financial abundance? Could you ever have too much money? Could you ever even conceive of summering in the Hamptons for $35,000 per night? Pregnant in your answer is a revelation of your core belief system regarding money”

Super Saver presents I Avoid Financial Advisors with These Characteristics posted at My Wealth Builder, saying, “In my experience, I have found it challenging to connect with a person that matches what I expect in an excellent financial advisor. Many candidates have what I consider a “fatal flaw” in a financial advisor.”

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

LeanLifeCoach presents Financial Filing Systems posted at Eliminate The Muda!, saying, “Good personal finance begins with good organization.”

Larry Russell presents Mutual Fund Load 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.”

Craig Ford presents Moneydance Personal Finance Software Review posted at Money Help For Christians, saying, “Organizing and tracking your finances is much easier with the right software. This article introduces and evalutes the Moneydance personal finance software.”

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.”

Roshawn Watson presents A Secret Weapon To Your Financial Plan posted at Watson Inc, saying, “Personal finances become personal when you realize that your finances affect so many other areas of your family lives, such as your health, your education, your safety, and your relationships. No wonder why Solomon proclaimed, “money answereth all things.”"

Nigel Savers presents Asset AllocationPersonal Financial Plan, posted at Pasadena Financial Planner saying, “Diversification means that the specific risks of businesses and other investment entities can be eliminated from a portfolio without reducing expected returns. You should diversify your investments completely and globally now and always.”

Financing a Home

Ryan @ MFN presents How to Apply for a VA Loan posted at Military Finance Network, saying, “A VA Loan is a great way to finance a home, but there are several steps you need to take before you can qualify for and obtain a VA Loan.”

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!”

Ryan @ MFN presents History of the GI Bill posted at Military Finance Network, saying, “A brief history of the GI Bill, one of the best ways for military veterans to pay for college.”

Health Care

Joe Plemon presents The New Health Care Bill: A Prescription for Diminished Health Care posted at Personal Finance By The Book, saying, “Yes, the health care bill passed. I predict the long term consequences will be poorer health care.”

Heidi presents Changes to Flexible Spending Accounts in the Health Care Bill posted at Little People Wealth, saying, “The recent health care bill changes the rules for Flexible Spending Accounts. This post outlines what is changing and how it will affect you.”

PT presents Buying Health Insurance as a Self Employed Individual posted at Prime Time Money, saying, “I share my recent experience with buying private health insurance after quitting my job.”

Income

jim presents Dividend Champions posted at Blueprint for Financial Prosperity.

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”

Investing

BWL presents How Do I Invest In Gold? But Should You? posted at Christian Personal Finance, saying, “I never quite understood how gold works as an investment, and how it might fit as a part of one’s portfolio. Sometimes I’ll hear statements such as, “Now’s a great time to buy gold!…”

FMF presents An Investing Reminder: Time is Your Biggest Ally posted at Free Money Finance, saying, “Invest early and often — the two keys to making the most of your investments.”

Steve Alexander presents Magic Formula Stock Review: Pre-Paid Legal Services Inc. (PPD) – MagicDiligence posted at MagicDiligence – Optimizing Joel Greenblatts Value Stock Strategy, saying, “Pre-Paid Legal is a provider of what amounts to “legal insurance” for individuals and families. The business model is profitable but shady, based on a controversial multi-level marketing scheme and selling a product that is of questionable value.”

Zach Scheidt presents Employment Issues Trigger Backsourcing posted at ZachStocks, saying, “Outsourcing Employment is becoming less of a competitive advantage for US based business. Stimulus programs to encourage employment is prompting “backsourcing” Here are some short candidates that will fall because of the trend”

Manshu presents List of Gold ETFs posted at OneMint, saying, “A comprehensive list of all Gold ETFs traded on the US bourses.”

Four Pillars presents Use Your Cell Phone Apps To Manage Your Money posted at Quest For Four Pillars, saying, “Some cell phone apps to help track your finances”

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.”

Steve Alexander presents A Simple Trading Strategy for Magic Formula Stocks? posted at MagicDiligence – Optimizing Joel Greenblatts Value Stock Strategy, saying, “Could a simple technical analysis strategy help improve the price at which we buy Magic Formula stocks? This article looks at one involving Bollinger Bands.”

Zach Scheidt presents First Solar Faces European Stimulus Concerns posted at ZachStocks, saying, “First Solar Inc. (FSLR) has noted previous strength in European markets. But with rising sovereign debt uncertainty, the stock will likely come under pressure and could lose a third of its market value.”

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: 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.”

Frank Vertin presents Best Index Funds posted at Noload Mutual Fund, saying, “Useful information on the top ten no load index funds that track the Standard and Poors 500 composite index in terms of lowest costs.”

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.”

Patty Pedersen presents Investing in Emerging Markets ETFs and Mutual Funds posted at AlphaProfit MoneyMatters – Investing Blog, saying, “Emerging markets have come a long way since the late 1990s when the title submerging markets was more apt. Becoming fiscally fit and offering higher growth prospects emerging economies have helped investments in such regions lead the post-recession recovery. This article outlines investment options, opportunities, and risks in emerging markets ETFs and mutual funds … factors investors need to examine before allocating assets to this increasing important investing category.”

The Skilled Investor presents Market Timing posted at Investment Portfolio Management, saying, “Stay invested always in the securities markets 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. Professionals and amateurs are both really lousy at market timing.”

Silicon Valley Blogger presents OptionsHouse Review: Low Commission Broker posted at The Digerati Life

Dividends4Life presents How Often Should A Stock Pay And Raise Dividends? posted at Dividends Value, saying, “In the U.S. and Canada, most companies pay dividends quarterly. In other parts of the world, it is not uncommon for companies to pay an annual or a semi-annual dividend. That is not to say that North American companies sometimes choose not to pay quarterly dividends. Though I prefer quarterly dividends, there is something more important than frequency…”

Tomas Escent presents Automated Stock Trading posted at Nerds on Wall Street, saying, “A little artificial intelligence goes a long way on Wall Street. If you give someone a program, you will frustrate them for a day; if you teach them how to program, you will frustrate them for a lifetime.”

Mike Piper presents Dave Ramsey Gives Bad Investment Advice posted at The Oblivious Investor, saying, “While Dave Ramsey has successfully helped many people get out of debt, his investment advice is downright awful.”

Managing Debt

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

Silicon Valley Blogger presents Best Student Credit Cards For College Students posted at The Digerati Life.

Big Cajun Man presents Do You Have a Financial GPS? posted at Canadian Personal Finance Blog, saying, “Do you need a financial GPS?”

Writers Coin presents A Bad Credit Score Could Cost You Your Job posted at The Writer’s Coin, saying, “A good credit score isn’t just about getting a good deal on a loan, it’s about getting (and keeping) your job.”

Ryan @ CML presents Difference Between PrePaid and Secured Credit Cards posted at Cash Money Life, saying, “Prepaid and secured credit cards are great options for people who don’t have good credit.”

Miscellaneous

Joe Plemon presents Change Your Mindset and Save a Fortune: 200,000 Miles is the New 100,000 Miles posted at Personal Finance By The Book, saying, “Cars of previous generations were worn out at 100,000 miles. Today’s cars last much longer. Try for 200,000 miles to save a bundle of money.”

Ryan @ CML presents Teach Children Good Money Habits Early posted at Cash Money Life, saying, “It’s never too early to start teaching your children about money. Start them off on a good path by teaching them about money as soon as they are old enough to understand.”

Susan Liddy presents What is your relationship with money? | Secrets to Ultimate Living! Blog posted at Secrets to Ultimate Living! Blog, saying, “Everyone has a relationship with money. Some love it, some hate it… some fear it. And, within this relationship there are beliefs. Beliefs about how it affects happiness, spirituality and success. This quick article will help access the readers relationship with money to to begin to establish better skills to save it, invest it, and spend it.”

Pasadena Financial Planner presents Mutual Fund 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.”

Mike @ Green Panda presents Finding The Balance Between a Sideline and a Day Job « Green Panda Treehouse posted at Green Panda Treehouse, saying, “Since I earned my very first buck, I have wondered about how to make more. I wake up in the morning and dream of being an entrepreneur.Finding balance between day job and my sideline is not always that easy. I am sharing how I was able to balance my sideline with my day job while keeping both at a high performance standard.”

nissim ziv presents How to Negotiate a Salary: Negotiation Tips, Questions & Expectations posted at Job Interview Guide, saying, “Negotiation skill is a skill that not many people possess. In general, negotiation is an art. Every word you say is important in the end results.”

Retirement Planning

Jeff Rose, CFP presents DB(k) Pension Plan Rules. Is it the New 401k? posted at Jeff Rose.

PT presents Can I Have a Joint IRA Account? posted at Prime Time Money, saying, “The IRA is called an individual retirement arrangement for a reason. Only one person can own an IRA.”

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.”

Learn Save Invest presents 4 Retirement Planning Mistakes posted at Learn Save Invest, saying, “4 of the deadly mistakes people make when planning for retirement, and how you can avoid them.”

The Financial Blogger presents Freedom 75 posted at The Financial Blogger, saying, “Life is full of irony! While my retirement goal is to stop being part of the rat race by 35, we see more and more people working pass the normal age of retirement of 65. I must admit that most of us will define themselves according to our job: Hello Mike, nice to meet you, tell me, what are you doing in life? A) I am me. B) I am a father. C) I am a passionate man who loves watching hockey, playing golf, blogging, play soccer with my son and making pony tails to my little girl, and.. and.. bla blab D) I am a financial planner / web entrepreneur I can tell that most people will answer. So if we define ourselves according to our job, what do we become if we quit working?”

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.”

Risk Management and Insurance

Consumer Boomer presents eHealthInsurance Review: Health Insurance for the Self-Employed posted at Consumer Boomer, saying, “When it comes to planning for retirement, the one thing that can wipe you out in a hurry is the rising cost of health insurance.”

FMF presents The Pros and Cons of Annuities posted at Free Money Finance, saying, “Be sure you know all the fine points before you invest in annuities.”

Savings

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

Consumer Boomer presents EverBank Yield Pledge Money Market Account Review posted at Consumer Boomer, saying, “Looking to make more on your cash and savings? You might want to consider Everbank as an online savings account option.”

MoneyNing presents 10 Situations in Which DIY is More Expensive posted at Money Ning, saying, “DIY is not always the most cost effective way of doing things.”

Taxes

Four Pillars presents How Long Before I Get My Income Tax Refund? posted at Quest For Four Pillars, saying, “A guideline for how long you have to wait for a tax refund.”

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.

Madison DuPaix presents Roth Conversion Strategy to Minimize Taxes posted at My Dollar Plan, saying, “A better way to do your Roth IRA conversions with a little planning.”

Jeff Rose, CFP presents Tax Tips for Freelancers posted at Jeff Rose.

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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