http://www.moneysmartz.com/weblog/ Personal finance insight and hand picked website and blog links to help individuals make smarter financial decisions. en Copyright 2012 personal+finance money Wed, 26 May 2010 13:23:17 -0600 http://www.movabletype.org/?v=4.25 http://blogs.law.harvard.edu/tech/rss "Know thy financial situation"
Suggested Links: Assessing Your Financial Situation, The Origins of "Know Thyself", Apprenticed Investor: Know Thyself]]> http://www.moneysmartz.com/weblog/archives/2010/05/knowledge_is_power.php http://www.moneysmartz.com/weblog/archives/2010/05/knowledge_is_power.php Financial Planning The Moneysherpa Says Wed, 26 May 2010 13:23:17 -0600 Using the Internet to research and make financial planning decisions can be complicated and confusing and often results in exasperation and even exhaustion. The seemingly infinite number of products, services, and sources of financial planning information make it hard to move forward in creating a financial plan. The following Moneysmartz Best of the Web sites will help you get started and perhaps help you breathe easier as you walk down the financial planning path toward success and peace of mind.

Financial Planning: Best of the Personal Finance Web 2010

The Financial Planning Process

• Certified Financial Planner Board of Standards Financial Planning Process Page: Learn about the financial planning process from an organization that certifies financial planners. View the Moneysmartz CFP profile.

The Basics

• AARP Money: This section of lobbying behemoth AARP's website is tailored for people over 50 and includes resources on personal finance, social security, retirement planning and more. View the Moneysmartz AARP profile.
• About.com Financial Planning: From the mega help guide About.com, About Financial Planning covers all facets of financial planning including budgeting, savings, college planning, retirement, taxes, and insurance. View the Moneysmartz About Financial Planning profile.
• Financial Planning Association: Connects individuals and firms who provide and support the financial planning profession. The site offers learning resources for individual financial planners and firms. View the Moneysmartz Financial Planning Association profile.
• Financial Planning Toolkit: An easy-to-use and helpful financial planning and management guide. Its content includes modules on investing, taxes, insurance, retirement, and estate planning. The site offers planning guides and tips, planning tools, and a wide selection of financial calculators. View the Moneysmartz Financial Planning Toolkit profile.
• Kiplinger.com: The Basics Page: The Kiplinger.com site offers personal financial management tools and tutorials, plus the latest news on the nation's economy and global markets. View the Moneysmartz Kiplinger.com profile.
• MyMoney.gov: Established by the Financial Literacy and Education Commission, MyMoney.gov aims to improve the financial knowledge and education of U.S. citizens. The site offers educational materials and tools about personal finance and financial markets. View the Moneysmartz MyMoney.gov profile.
• Wikipedia's Financial Planning Page: Founded in 2001, Wikipedia is a collaborative encyclopedia, edited by volunteers. Wikipedia (pronounced /ˌwiːkiˈpiːdiə/ or /ˌwɪkiˈpiːdiə/) offers thousands of articles with links to related pages with more information. View the Moneysmartz Wikipedia profile.

Help Finding a Local Financial Planner

• Financial Planning Association: Find a local planner by specialty, income and asset minimums, and fee basis. View the Moneysmartz Financial Planning Association profile.
• National Association of Personal Financial Planners: Search for financial planners by name and location. View the Moneysmartz National Association of Personal Financial Planners profile.
• Paladin Registry: Find pre-screened advisors, planners, and consultants. View the Moneysmartz Paladin Registry profile.

Financial Planning Products and Services

• Ameriprise Financial: Self tagged America's leader in financial planning and offering online information, tools, and insight and a national network of financial advisors. View the Moneysmartz Ameriprise Financial profile.
• Charles Schwab Planning and Retirement: Charles Schwab's goal is to provide the benefits of a full-service brokerage at a discount brokerage price. In addition to brokerage services, Schwab offers banking, lending, and personal advice online and through more than 300 offices in the United States and in select international markets. View the Moneysmartz Charles Schwab profile.
• Edward Jones: Serving almost 7 million investors with more offices than any other investment firm in America, Edward Jones offers retirement, estate planning and trusts, investment, insurance, and educational savings products and services. View the Moneysmartz Edward Jones profile.
• Fidelity Investments: As a leading financial services provider, Fidelity Investments offers more than 300 Fidelity mutual funds, discount brokerage services, retirement services, estate planning, insurance, and more. View the Moneysmartz Fidelity Investments profile.
• ING USA: Amsterdam based ING operates in more than 40 countries. ING USA offers financial services to individuals including annuities, retirement plans, life insurance, mutual funds, managed accounts, alternative investments, direct banking, and financial planning. View the Moneysmartz ING USA profile.
• Prudential: With operations around the world serving over 50 million individual and institutional clients, Prudential Financial Services, Inc. offers an array of products and services including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. View the Moneysmartz Prudential profile.
• Raymond James Financial, Inc.: Serving over 1.9 million accounts in 2,300 locations in the United States and internationally and through a network of over 5,300 financial advisors, Raymond James offers investment and financial planning products and services, in addition to investment banking and asset management. View the Moneysmartz Raymond James profile.
• T. Rowe Price: Through nearly 5,000 associates in 12 countries, T. Rowe Price provides a full range of investment strategies including retirement, brokerage, and educational savings solutions. View the Moneysmartz T. Rowe Price profile.
• The Vanguard Group: Vanguard currently manages 150 domestic funds plus additional funds in international markets and approximately $1.3 trillion in assets. Vanguard serves individual and institutional investors and financial professionals with mutual funds and other financial products and services. Their products include ETFs, annuities, and services such as brokerage, retirement investing, and college savings. View the Moneysmartz Vanguard profile.

Financial Planning and Personal Finance Experts

• Ric Edelman: A financial advisor, book publisher, and host of television and radio programs, Ric Edelman is a well-respected speaker and advocate for personal financial management. The Ric Edelman site is a resource for financial management education with articles and advice on education and retirement planning, debt reduction, household expenses and mortgages, and advice on how to get the best health care and insurance. View the Moneysmartz Ric Edelman profile.
• Suze Orman: SuzeOrman.com includes information, advice, inspiration, and many special offers. The site's resource section includes free information on fundamental personal finance concepts such as debt management, home ownership, and insurance. View More on Suze Orman in Moneysmartz.

Quirky, But Full of Information

• EF Moody, Financial Planner: The site has 4,000 pages of related articles on finance and 1,700 links to financial websites. One of the famous, and sometimes controversial, features of EFMoody.com is his daily "Gripes and Comments" discussing the finance industry and the economy as a whole. View More on EF Moody in Moneysmartz.

Track Your Net Worth

• Net Worth IQ: Net Worth IQ offers tools to help you track, share, and compare your net worth. View More on Net Worth IQ in Moneysmartz.

Related Moneysmartz Guides

• Financial Planning
• Insurance
• Retirement
• Investing
• Financial Calculators

]]> http://www.moneysmartz.com/weblog/archives/2010/04/financial_planning_moneysmartz_best_of_the_web.php http://www.moneysmartz.com/weblog/archives/2010/04/financial_planning_moneysmartz_best_of_the_web.php Best of the Personal Finance Web Financial Planning Fri, 09 Apr 2010 17:42:36 -0600 EFMoody.com
Category: Financial Planning
Description: With quotes like "No matter, this is not a Suze Orman 'feel good' commentary or the absurd Rich Dad Poor Dad drivel. Be prepared to do some heavy homework and you will be well served by the material and insight found nowhere else" it's not surprising that EF Moody is known for his "no-nonsense" approach to educating readers about finance. The contents of his site EFMoody.com offer a comprehensive and in-depth discussion of the essential elements of financial management and planning. The site prides itself on being the "largest comprehensive financial planning site on the Internet" and for providing readers knowledge to help them get past the hype of the financial services industry and focus on what really works.
Features: The site has 4,000 pages of related articles on finance and 1,700 links to financial websites. One of the famous, and sometimes controversial, features of EFMoody.com is his daily "Gripes and Comments" discussing the finance industry and the economy as a whole.
Notable Awards/Recognition: EFMoody.com has received widespread media recognition including favorable reviews by Forbes, Business Week and USA Today which said "This is a high-powered personal bookmark list that spans the spectrum of the truly useful."
Bottom Line: Errold Moody masters the art of humorous, conversational financial commentary. Though the site lay-out has a lot of room for improvement, the content of the site itself is staggering. If you are willing to roll up your sleeves and do some heavy lifting, then the thousands of resource materials and helpful articles at EFMoody.com will surely enhance your financial decision making.]]> http://www.moneysmartz.com/weblog/archives/2009/04/errold_moody.php http://www.moneysmartz.com/weblog/archives/2009/04/errold_moody.php Financial Planning Moneysmartz Profiles and Reviews Fri, 10 Apr 2009 10:38:38 -0600 Suze Orman
Categories: Financial Planning, Personal Finance
Description: SuzeOrman.com is the official website of Suze Orman, an internationally-acclaimed personal finance expert. Suze Orman started her own financial planning firm in Emeryville, California in 1987. Since then, her career has been rising like a raging bull market, including six New York Times bestsellers and her own television show on CNBC.
Features: SuzeOrman.com includes information, advice, inspiration, and lots of special offers. The site's resource section includes free information on fundamental personal finance concepts such as debt management, home ownership, and insurance.
Notable Awards/Recognition: Time Magazine's 2008 Time 100 World's Most Influential People. 2009 Gracie Allen Award for The Suze Orman Show in the Outstanding Talk Show category from the American Women in Radio and Television.
Bottom Line: SuzeOrman.com is a monument to smart self-promotion with an array of Suze Orman and third-party product and service offers. While the site is light on free information and resources, it is an effective channel to Suze Orman and her multimedia empire, including television, radio, publishing, and public speaking. If you are willing to open your checkbook just a little, then a visit to SuzeOrman.com should yield the expert guidance and dose of inspiration many of us need. ]]> http://www.moneysmartz.com/weblog/archives/2009/04/suze_orman.php http://www.moneysmartz.com/weblog/archives/2009/04/suze_orman.php Financial Planning Moneysmartz Profiles and Reviews Personal Finance Fri, 03 Apr 2009 06:12:09 -0600 Ameriprise Financial
Category: Financial Planning
With over 110 years of service, Ameriprise Financial has been tagged America's leader in financial planning. Through a national network of financial advisors, online information, tools, and insight, Ameriprise helps their clients save, manage, invest, and protect their assets. In a recent J.D. Power & Associates client satisfaction survey, Ameriprise ranked sixth. Through December 2007, Ameriprise served 2.8 million clients with more than $400 billion of assets.
http://www.ameriprise.com/default-home.asp]]> http://www.moneysmartz.com/weblog/archives/2009/03/moneysmartz_profile_updates_32509.php http://www.moneysmartz.com/weblog/archives/2009/03/moneysmartz_profile_updates_32509.php Financial Planning Moneysmartz Profiles and Reviews Mon, 30 Mar 2009 06:36:07 -0600 AXA Advisors
Category: Financial Planning
AXAonline is operated by AXA Advisors, LLC a division of the global AXA Group. They are a leading financial management and protection company, offering a wide range of financial services and products including insurance, annuities, and retirement planning. AXA Advisors currently serves more than 3 million clients with branch offices throughout the United States. This network of professionals works with clients to develop customized financial strategies using products from over 100 companies. AXAonline includes links to financial services and products and tools, articles on important financial planning topics like retirement and estate planning, and a branch and advisor directory to help you find an AXA advisor in your area.
http://www.axaonline.com/]]> http://www.moneysmartz.com/weblog/archives/2009/03/customized_financial_plans.php http://www.moneysmartz.com/weblog/archives/2009/03/customized_financial_plans.php Financial Planning Moneysmartz Profiles and Reviews Sun, 29 Mar 2009 09:46:48 -0600 Charles Schwab
Category: Financial Planning
Founded in 1973 and public in 1987, Charles Schwab aims to provide the benefits of a full-service brokerage at a discount brokerage price. In addition to brokerage services, Schwab offers banking, lending, and personal advice online and through more than 300 offices in the United States and in select international markets. The Schwab site links to financial products and services like mutual funds and advisory services. If you are an active trader, then Schwab Active Trading provides customizable platforms and tools to help you trade smarter.
http://www.schwab.com]]> http://www.moneysmartz.com/weblog/archives/2009/03/personal_investment_guidance_for_less.php http://www.moneysmartz.com/weblog/archives/2009/03/personal_investment_guidance_for_less.php Financial Planning Moneysmartz Profiles and Reviews Sat, 28 Mar 2009 06:06:01 -0600 Ric Edelman
Category: Financial Planning
Year after year, Ric Edelman has been ranked at or near the top of financial advisory rankings by well-known industry publications like Barron's and Research magazine. In addition to financial advisory services, offered through Edelman Financial and found at edelmanfinancial.com, more about and from Ric Edelman can be found at ricedelman.com. The site is full of useful financial planning articles and links to Edelman's multi-media offerings including television, radio, newspaper columns, and a personal finance newsletter.
http://www.ricedelman.com/
http://www.edelmanfinancial.com/]]> http://www.moneysmartz.com/weblog/archives/2009/03/top_ranked_financial_advisor.php http://www.moneysmartz.com/weblog/archives/2009/03/top_ranked_financial_advisor.php Financial Planning Moneysmartz Profiles and Reviews Thu, 26 Mar 2009 07:07:22 -0600 Paladin Registry
Category: Financial Planning
The task of finding a financial advisor is daunting, particularly without a personal referral. Paladin Registry, founded in 2003, is designed to make it easier for you to find the financial planner that best meets your needs. The Paladin Registry pre-screens advisors based on their competence, credentials, and quality of service. The Paladin Registry website includes information to help you avoid scams and make a smart decision when selecting a financial partner. Kiplinger.com awarded a 4-star rating to Paladin Registry.
http://www.paladinregistry.com/index.php]]> http://www.moneysmartz.com/weblog/archives/2009/03/help_finding_qualified_financial_advice.php http://www.moneysmartz.com/weblog/archives/2009/03/help_finding_qualified_financial_advice.php Financial Planning Moneysmartz Profiles and Reviews Mon, 23 Mar 2009 06:00:10 -0600 The ongoing financial and economic storm has left many Americans feeling battered and helpless. Our actions have been guided by fear, advice from financial advisers, and our own personal finance knowledge. A sure way to gain your financial balance is to beef up your knowledge about the basics of financial planning and begin developing a financial plan. About.com Financial Planning offers easy steps for getting started and taking control of your finances. To learn more about the About Financial Planning website, including tips for navigating the site, or to post your review and comments, visit the About.com Financial Planning Moneysmartz Profile.]]> http://www.moneysmartz.com/weblog/archives/2008/10/about_financial_planning.php http://www.moneysmartz.com/weblog/archives/2008/10/about_financial_planning.php Financial Planning Moneysmartz Profiles and Reviews Sat, 11 Oct 2008 12:46:43 -0600 Do-it-yourself or get help? This question, a dilemma for many, will occur early and often during the course of your financial life. As your personal finances become more complex, you will inevitably need help from an investment professional. The following tips will help you make an informed selection:

• Determine your personal finance objectives and think about the services that will meet these objectives. For example, are you saving for retirement, protecting against risk, preparing your estate, or putting money aside for the education of your children? These are just a few of the potential questions that will help determine the financial services you are seeking. Financial services fit into an array of disciplines, including financial planning, estate planning, retirement planning and preparation, tax planning, investment management, college financing and planning, and insurance. Investment professionals may specialize in one discipline or offer services in several areas. Don't worry if you can't think of a complete list of financial services to meet your needs, because, after all, this one important reason for getting help.
• Ask trusted sources like friends and relatives for the names of investment professionals. Keep in mind that everyone's financial situation is unique, so what is good for your neighbor, may not be good for you.
• Don't use titles or generic terms to make your selection. According to the Financial Industry Regulatory Authority ("FINRA"), the largest non-governmental regulator for all securities firms doing business in the United States, titles like Financial Adviser or Financial Planner can be used by investment professionals that may not "hold any specific designation."
• Understand professional designations. The list of designations continues to grow, with each one representing something different. FINRA lists almost 100 designations. There are requirements for each designation, so when an adviser lists a credential, ask questions about the meaning of the designation and where to go to verify the designation. For example, to verify the credentials of a purported Certified Financial Planner, visit the Certified Financial Planner Board of Standard's search page and enter the name of the professional. To understand the meaning of a designation, do a Google keyword web search using the designation title. For example, Google keyword search "CFA" links to the CFA Institute, the organization offering the Chartered Financial Analyst designation.
• Conduct face-to-face interviews with prospective investment professionals. FINRA suggests the following questions: "areas of specialization, professional designations, registrations or licenses, education, work history, investment experience, products and services, and disciplinary history." Be sure to ask about compensation, which may be hourly, a flat annual fee, commission based, percentage of assets managed, or a combination of commissions and fees. Ask if the professional or their firm receives additional compensation for selling particular investment products. Finally, in the case of a professional offering investment products, ask if their firm is a member of the Securities Investor Protection Corporation ("SIPC"). According to FINRA, "the SIPC provides limited customer protection if a firm becomes insolvent."
• Verify state and federal regulatory registrations of the investment professional and their firm. Ask the prospective professional if they and their firm are registered at the state, federal, or at both the state and federal level and the actual name of these regulatory authorities. Once you have the name of the regulatory authorities, visit them online or call to verify registration. Many investment professionals and their firms are registered by FINRA, so a great place to start is FINRA's BrokerCheck, "a free online tool to help investors check the professional background of current and former FINRA-registered securities firms and brokers." In addition, FINRA provides links to state regulatory authorities.
• Ask for references. Going the extra mile and checking references is worth the effort when considering that you may be entering into a lifelong relationship with the selected investment professional.
• Make sure the services being offered fit your unique needs and situation. Every investment professional should tailor a solution unique to you and your situation. Beware of professionals offering "one-size-fits-all" services.

Ultimately, selecting an investment professional is your responsibility, so whether you choose to do-it-yourself, or partner with one or many investment professionals, you control your financial destiny.

Suggested Sites: FINRA, Securities and Exchange Commission, CFP.net, Financial Planning Association

Guide Categories: Financial Planning, Insurance, Investing, Estate Planning, Retirement Planning, Tax Preparation and Planning, College Financing and Planning]]> http://www.moneysmartz.com/weblog/archives/2008/06/investment_professional_selection_tips.php http://www.moneysmartz.com/weblog/archives/2008/06/investment_professional_selection_tips.php Financial Planning Investing The Moneysherpa Pages Sun, 01 Jun 2008 12:33:10 -0600 2008 started with such promise. Sure, the danger signs were everywhere, but like every New Year, optimism prevailed. Well into 2008, many wish for another new year and an end to the stream of economic woe and confusion. Before throwing in the towel, Moneysmartz offers the following ideas to survive and thrive:

• Take stock of your current financial situation. Begin by calculating your net worth and determining if you have enough saved in an emergency fund. You might find that you are in better shape than you thought or that you need to act right away to shore up your financial situation.
• Prepare a budget. Sites like Mint.com make it easy and it won't take as much time as you think.
• Assess your protection against risk by inventorying your insurance coverage. In the event of a worst-case, you'll be happy you took the time.
• Avoid making investment decisions based on emotion. Understand your risk tolerance and investment time horizon to avoid selling low and buying high.
• Learn more about the big economic issues of the day so you can make smarter and more informed decisions.
• Try not to lose sleep over a loss in your home value if you don't intend to sell, refinance, or get a home equity loan. The market will eventually recover. This provides small comfort to those facing a reset on their mortgage interest rate or foreclosure, but for the majority of homeowners, a reset or foreclosure is not a concern.
• Reduce your daily spending through frugality. Go to sites like Valpak.com for money saving coupons.
• Focus on the areas where you have more control, including your job, your education, your health, and your family. If you are worried about losing your job, then prepare your resume, start calling your friends, and prepare for a change.

Like every economic cycle, this storm will pass and make way for a better day. Understanding this may be half the battle to begin enjoying the rest of 2008.

Suggested Sites: NetWorthIQ, Mint.com, A.M. Best, Insurance.com, CCH Financial Planning Toolkit, About.com Economics, FrontDoor, Federal Reserve Education: Foreclosures, About.com Frugal Living, Cool Savings, Vault.

Guide Categories: Assessing Your Financial Situation, Financial Calculators, Financial Goal Setting, Financial Planning, Insurance, Investing, Investment Time Horizon, Economics, The Federal Reserve Bank, Stagflation, Mortgages, Real Estate, Foreclosures, Frugality, Coupons, Compensation and Benefits.]]> http://www.moneysmartz.com/weblog/archives/2008/05/surviving_and_thriving_in_2008.php http://www.moneysmartz.com/weblog/archives/2008/05/surviving_and_thriving_in_2008.php Financial Planning The Moneysherpa Pages Sun, 25 May 2008 09:56:16 -0600 Chances are you don't have enough insurance coverage. In fact, according to the Insurance Information Institute, nearly 60% of American homes are inadequately covered. So if you think you fall into this group, here's a way to get motivated to get the insurance you really need. Visualize your worst-case scenarios. It's a difficult way to plan, but if a worst-case occurs, you will be thankful you took the time to think ahead. To learn the basics of insurance planning and start filling gaps, visit the MSN Money and Marketwatch guide "Making sure your insurance fits." The Moneysmartz Insurance Guide offers even more links to relevant and reliable sources of Insurance information and advice.]]> http://www.moneysmartz.com/weblog/archives/2008/05/worst_case_insurance_planning.php http://www.moneysmartz.com/weblog/archives/2008/05/worst_case_insurance_planning.php Financial Planning Insurance The Moneysherpa Pages Fri, 16 May 2008 20:30:40 -0600 Boring, vanilla, and without sex appeal, bonds are an important weapon in your personal investment arsenal. Bonds come in many forms with the most basic representing a loan from the investor to an issuer in exchange for a stream of payments and repayment of the loan. Bonds offer inflation protection and help diversity a portfolio, particularly if you are seeking income over a fixed period. As experienced bond investors know, the variety of bonds, including issuers and denominations, is vast.

The updated Moneysmartz Bonds category offers primers, market news, rates, and insight to help you understand bonds and incorporate them into your personal investment strategy. For a thorough introduction to bonds, visit the Investopedia Bond Basics Editor Best Bet. The SmartMoney and Motley Fool Editor Best Bets link to bond investing tools and strategies. Finally, TreasuryDirect, another Editor Best Bet, offers information and a way to buy bonds directly from the U.S. Treasury

While not flashy, bonds can play a substantial role in your investment portfolio.]]> http://www.moneysmartz.com/weblog/archives/2008/04/bonds_update.php http://www.moneysmartz.com/weblog/archives/2008/04/bonds_update.php Financial Planning Investing Moneysmartz Guide Updates Fri, 25 Apr 2008 06:00:07 -0600 The experts say that asset allocation, defined as how you distribute your investments among asset classes like stocks and bonds, is the single most important factor in determining investing returns. According to Investopedia, the experts also say, "your selection of individual securities is secondary to the way you allocate your investment in stocks, bonds, and cash and equivalents, which will be the principal determinants of your investment results." Given this sage advice, asset allocation deserves at least a portion of your financial planning attention.

The newly created Moneysmartz Asset Allocation category offers calculators, tools, and strategies to help you understand and exploit the power of asset allocation. For a brief and easy to understand introduction to asset allocation, visit the Securities and Exchange Commission beginners' guide to asset allocation Editor Best Bet. Use the Financial Planning Toolkit asset allocator Editor Best Bet to determine your personal asset allocation strategy. Before implementing this strategy, consider talking with a professional for additional guidance and perspective.

Understanding and implementing asset allocation won't guarantee stellar investment performance, but you will improve your odds for better returns from your investments. ]]> http://www.moneysmartz.com/weblog/archives/2008/04/asset_allocation_update.php http://www.moneysmartz.com/weblog/archives/2008/04/asset_allocation_update.php Financial Planning Investing Moneysmartz Guide Updates Thu, 24 Apr 2008 05:56:47 -0600