|
The Moneysherpa Pages
|
Help With Roth IRA Conversions
Archived Under: Retirement Planning , The Moneysherpa Pages
2010 is the year of the Roth IRA conversion. For the first time, income limits are being lifted allowing more individuals to convert their Traditional IRA to a Roth IRA. Under certain conditions (after 5 years and after age 59 1/2) Roth IRA withdrawals are tax-free. Before you make the conversion, know the facts, including a review of these helpful Roth IRA Conversion links:
Holiday Money Saving Tips| Link
Archived Under: Money Management , The Moneysherpa Pages
 If the thought "I'm going to be smart about my holiday spending" has not translated into the act of spending less, then the following links offer hope for a more frugal holiday season:
FTC's Credit Clean Sweep
Archived Under: Fraud , The Moneysherpa Pages
 Today, the Federal Trade Commission ("FTC") and 24 state agencies announced results from "Operation Clean Sweep," an effort to crackdown on false and misleading statements by "Credit Repair Operations." Lydia Parnes, Director of the FTC's Bureau of Consumer Protection said, "Companies that promise they are able to scrub your credit reports of accurate, negative information for a fee are lying - plain and simple." Visit the FTC site for the complete Clean Sweep press release. In addition, the FTC offers a wealth of credit resources including Credit Repair: How to Help Yourself and information on how to manage your credit and debt.
Capital Gains Primer
Archived Under: Investing , Taxes , The Moneysherpa Pages
 In an upside down stock market, panic selling occurs all too frequently. Today's market gyrations likely triggered even more selling. For some, the unintended consequence of panic selling is a larger tax bill. If you already sold stock or are contemplating selling, then The SmartMoney.com Capital-Gains Guide offers worksheets to help you calculate capital gains and a primer on rates for a variety of long-term sales, including investment securities, investment real estate, homes, and small business stock.To learn more about the SmartMoney website, including tips for navigating the site, or to post your review and comments, visit the SmartMoney Moneysmartz Profile.
The Real World and Your Credit Score
Archived Under: Money Management , The Moneysherpa Pages
 Have you ever thought about how a low credit score could take money out of your pocket? The bad news is that there are many ways a low credit score can hurt your personal finances. According to myFICO, a low credit score will result in much higher mortgage payments. For a $300,000 30-year fixed rate mortgage, the difference between a very low and very high credit score is almost $900 a month in cold, hard cash. That's real money and real life if you are in the credit score doghouse.The good news is that you can do a lot to improve your credit score. First, learn as much as possible about your credit score. myFico's credit education center offers tips, advice, and information. Next, get your credit report and FICO score. You can contact one of the credit reporting agencies for a free report (Equifax, Experian, TransUnion) or a service that monitors your credit for a fee. Be sure to correct errors on your credit report. myFico offers tips and advice to help to correct these errors. Finally, start paying bills on time and stop moving debt around. myFico offers a list of tips for improving your credit score. By taking action and getting help, you can get out of the credit doghouse and look forward to lower payments on essentials like a home mortgage and less debt.
Popular Personal Finance Pages
Archived Under: Personal Finance , The Moneysherpa Pages
 It feels like we've averted the financial meltdown on Wall Street that many feared. Our attention is now shifting toward Main Street, employment, and consumer spending. With many experts saying that we are in or heading toward a recession, reviewing your day-to-day spending and evaluating the state of your personal finances is both well advised and smart.To help you navigate the mass of personal finance resources on the web, Moneysmartz recommends visiting the personal finance pages of the leading financial portals, including Yahoo! Finance, Marketwatch, MSN Money, CNNMoney.com, Morningstar, Kiplinger.com, SmartMoney, Wikipedia, AOL Money and Finance, Fool.com, and USA.gov. These pages include money management, investing, insurance, estate planning, and college financing tips, advice, and resources. Moneysmartz recommends spending a few minutes with each site. Find the site that best meets your needs and visit it frequently to gain comfort and integrate into your decision making process. If the recession is worse than expected, then you'll be better prepared to weather the storm and come out on top. If the recession turns out to be a mirage, then you'll just be a little smarter.
Watching Economic Indicators
Archived Under: Economics , Investing , The Moneysherpa Pages
 Until recently, the release of key economic indicators was received by many investors with a yawn. Recent violent market movements in response to the release of economic statistics have resulted in renewed interest in the dismal science. If you ever wondered when the statistics are released and which ones are important, then look no further than the Yahoo! Finance Economic Calendar. The calendar lists current and future economic statistics, corresponding release dates and background information including a description of the importance of the statistic. To learn more about economic indicators and statistics visit the Moneysmartz Economic Indicators and Statistics Page.
Retirees Beware of Scam Artists
Archived Under: Investing , Retirement Planning , The Moneysherpa Pages
 During this time of economic fear and uncertainty, many retirees have seen their hard-earned nest eggs shrink. A natural reaction to this decline is to look for ways to increase the value of one's nest egg. Marketwatch's Robert Powell warns retirees and pre-retirees to beware of scams. Potential scams include "free lunch" seminars where presenters use unscrupulous tactics to get attendees to sign-up for unneeded services. AARP has begun monitoring seminars to help distinguish between the good and the bad. In addition to scams, Powell notes that individuals should look out for sales tactics that don't provide all the details behind products like annuities with a guaranteed living withdrawal benefit. The old adage that if it sounds too good to be true, then it probably is too good to be true applies. Especially now, when it is easier to prey on unsettled investors desperately seeking ways to make up lost ground.
Buffett Says Buy American
Archived Under: Investing , The Moneysherpa Pages
 When the Oracle of Omaha talks, it pays to listen. Today, in an op-ed contribution to The New York Times, Warren Buffett said he is buying American stocks. In the midst of financial market turmoil, how could the world's richest man be thinking of jumping into the stock market? First, he has a long-term outlook and thinks stocks will increase in value over the next 10 to 20 years. Next, he has experience being greedy when others are fearful and fearful when others are greedy. Does anyone doubt that fear permeates our economy and markets? Finally, Buffett says cash loses value every day and history indicates that the market recovery will occur before the economic recovery. Before you jump into the market like Buffett, give some thought to your financial situation and your near-term and long-term financial needs. Also, heed Buffett's caution that he has no idea what the market will do in the near-term. To learn more about Warren Buffett, visit the Moneysmartz Warren Buffett page.
Investment Professional Selection Tips
Archived Under: Financial Planning , Investing , The Moneysherpa Pages
 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:
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
Surviving and Thriving in 2008
Archived Under: Financial Planning , The Moneysherpa Pages
 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:
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.
Worst Case Insurance Planning
Archived Under: Financial Planning , Insurance , The Moneysherpa Pages
 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.
Garage Sale Tips
Archived Under: Money Management , The Moneysherpa Pages
 Spring is finally here, your house is full of clutter, and you are looking for a few extra dollars to pay for the rising cost of gas. If you are willing to invest some sweat equity, then a garage sale is a great way to clean and get some green. Before getting started with your garage sale, visit the Yardsalequeen.com for common sense tips and more links. Wondering how to price your items? Visit Your Garage Sale Source for pricing ideas. Try Craigslist to find and advertise your garage sale. For example, if you live in Denver, visit Google, type keywords "craigslist Denver garage sale," and click "I'm feeling lucky" to view the Craigslist Denver garage sale classifieds page. In addition, many local newspapers host garage sale pages with maps and information, so try Google keyword search "your city garage sales." Finally, if you are pressed for time or feeling charitable, find a local Goodwill to donate your stuff.
Money Real Estate Survival Guide 08
Archived Under: Real Estate , The Moneysherpa Pages
 Money Magazine's 2008 Real Estate Survival Guide offers a tale of a world turned upside down with growth predicted for Syracuse, Buffalo, and Scranton, and dire times for the darlings of real estate, including Los Angeles, Miami, Phoenix, and Las Vegas. With projected eye-popping real estate price declines, what can we do to survive and for the select few, even prosper?The Money Magazine Real Estate Survival Guide offers facts, tips, and insight. Here's how to make the most of the guide:
Squidoo Personal Finance
Archived Under: The Moneysherpa Pages
 Wikipedia, an online encyclopedia open to editing by anyone, was the first of many collaborative web-based resources. Squidoo, a relatively new entrant into the space, with an emphasis on openness, declares, "Everyone's an expert on something!" This is bad news if you are looking to use Squidoo for definitive financial advice, but good news if you are looking for fresh perspectives on your personal finances.To get the most from your visit to Squidoo, the following tips will help guide your way:
Moneysmarts Jargonator| Link
Archived Under: Financial Services , The Moneysherpa Pages
 A recent survey by AARP Financial MoneySmarts found that Americans confusion about financial jargon leads to mistakes and lost opportunities. If you have slogged or searched your way through the mass of financial services information on the Web, or even talked with a financial adviser steeped in technical terminology, then the study results are not a surprise and are not necessarily that helpful. However, the AARP Financial microsite offers a solution, an easy-to-use tool to convert financial jargon into plain language. In case you were wondering, MoneySmarts is not related to or affiliated with Moneysmartz.
Eight Millionaire| Link
Archived Under: Retirement Planning , The Moneysherpa Pages
 As the experts bemoan the low personal savings rate in the United States, hovering around zero percent, it's interesting and perhaps instructional to compute the modern day equivalent of a "millionaire."Before determining the magic number, a base year and inflation index are needed. First, and somewhat arbitrarily, 1955 will be the base year, a time of growth and tranquility, with "millionaire" entering popular culture and representing affluence and the "good life." Next, the Consumer Price Index (CPI), a measure of the average change in prices over time in a market basket of goods and services, will be used as an index to convert 1955 dollars to 2008 dollars. Using a CPI inflation calculator with 1955 as the base year and the CPI as the inflation index, the magic number is a little over $8 million. Your reaction to this number may be a shrug of the shoulders, but if you are in 20's, 30's and even 40's, with diminished prospects for receiving Social Security, being a "millionaire" may not be enough to sustain you during your golden years. The good news is that even if you don't reach $8 million, you have plenty of time to save.
Tips From The Woodstock of Capitalism 08| Link
Archived Under: Investing , The Moneysherpa Pages
 "The most important investment you can make is in yourself." Like much of the Q&A during yesterday's Berkshire Hathaway annual meeting of shareholders at Omaha's Qwest Center, Warren Buffett and Charlie Munger offered plenty of common sense wisdom and investing advice, including tips on a variety of topics:
The Forever Stamp| Link
Archived Under: Money Management , The Moneysherpa Pages
 Until the introduction of the Forever stamp last year, the frequent rise in the price of United States Postal Service (USPS) first-class postage presented an annoying dilemma for those left with unused and under priced stamps, waste money by combining two one-ounce first-class stamps or buy smaller denomination stamps to use with the now under priced first-class stamps.Thanks to a little USPS creativity, the dilemma can be avoided through a Forever stamp, postage purchased today that is good for mailing "one-ounce first-class letters anytime in the future -- regardless of price changes." With another penny price hike set for May 12, raising the price of a first-class stamp to 42 cents, we are faced with another, more pleasant dilemma. Stock up on the 41-cent Forever stamp today, and save a penny, or wait and buy a 42-cent Forever stamp on or after May 12. Regardless of your decision, the Forever stamp will probably save you a few pennies and make your life a little easier. To purchase stamps online, visit The Postal Store.
Epinions and Better Financial Services| Link
Archived Under: Financial Services , The Moneysherpa Pages
 The worst time to realize a provider of financial services does not care is when you need their help the most. If you have ever been treated like a number by a testy customer service agent or been caught in the endless loop of a convoluted interactive voice response system, then you know how important it is to choose wisely when looking for financial services like credit cards, banks, and brokers.Epinions, started in 1999 and now owned by eBay, offers user generated reviews about a wide range of products and services to help you avoid poor customer service and get the facts before, not after, you buy. The following tips should help you get the insight you need from Epinions:
Your Number| Link
Archived Under: Retirement Planning , The Moneysherpa Pages
 How much will you need to retire comfortably? It's a question being asked a lot these days by providers of retirement planning services. ING joins the fray with a tool consisting of six questions to calculate your "Your Number." Don't be surprised if your number is shockingly high, particularly if you are nearing retirement and don't have a start on your nest egg. Rest easy, the ING microsite offers links to professional advice. The power of the "Your Number" campaign is that after taking the quiz, it's hard to forget your number, and even more difficult to remain passive about saving for retirement.
Travel Insurance| Link
Archived Under: Insurance , The Moneysherpa Pages
 On the family cruise of a lifetime, you slip, fall, and break your arm. You require emergency medical attention. Do you have insurance?As spring break travel peaks and preparation for summer travel begins, a review of travel insurance may help avoid catastrophe if the unthinkable happens on your next trip. According to the Insurance Information Institute, there are four major types of trip insurance, including trip cancellation insurance, baggage insurance or personal effects coverage, emergency medical assistance, and accidental death. There are a number of travel insurance providers and comparison sites including InsureMyTrip.com, AIG Travel Guard, CSA Travel Protection, Travel Insurance Services, and many others. For more travel insurance information and links, visit About.com Personal Insurance. If you work with or know a travel agent, then be sure to talk with them for additional information. Being prepared before vacation, including purchasing adequate travel insurance, will help give you the peace of mind to enjoy vacation.
The Best Mutual Funds| Link
Archived Under: Investing , The Moneysherpa Pages
 During market tumult, investors seek investments that help them look toward the future with confidence. The recent Money Magazine 70 recommends mutual funds that should be of comfort during good and bad times. The Money Magazine selection criteria includes mutual funds with "low expenses, a strong record for putting share-holder interests first, a consistent investment strategy and experienced managers." The result is above average performance, with over 70% of the selected mutual funds outperforming their category average. Leading fund families Vanguard, T. Rowe Price, and Fidelity are well represented with 23, 8, and 4 funds on the list respectively.
Coupons and Online Deals| Link
Archived Under: Money Management , The Moneysherpa Pages
 With higher gas prices, lower home values, and a weak stock market, now is a good time to find ways to cut costs. Coupons offer a quick and easy way to begin saving money today. For grocery coupons and online deals, visit CoolSavings, SmartSource, and Valpak. For a complete list, visit the Moneysmartz Coupons page.
Best of Class Financial Services Customer Service| Link
Archived Under: Banking Services , Financial Services , Insurance , Investing , The Moneysherpa Pages
Saving Your Tax Rebate| Link
Archived Under: Investing , Net Worth , The Moneysherpa Pages
 A recent CNN/Opinion Research poll of American taxpayers found that 32% of respondents will save their tax rebate, 41% will use the windfall to pay bills, 3% will contribute the money to charity, and only 21% of those polled plan to spend the money.Checks should range from $300 to $1,200 and even more if you have kids under age 17. For the full details of the tax rebate, visit the Kiplinger Tax Rebate page. Whether you plan to spend or save, consider the value of a $1,000 investment today, earning 8% annually over 10, 20, 30, 40, and 50 years. Your $1,000 investment would be worth $2,200, $4,927, $10,936, $24,273, and $53,878 respectively. Looking at how the numbers grow, it is easy to understand how saving early and often makes sense and is perhaps the only sure route to building a sufficient nest egg for your golden years.
John Mauldin's Investment Newsletters| Link
Archived Under: Investing , The Moneysherpa Pages
 With an eye popping 1.5 million subscribers, John Mauldin provides investors an insightful view into the economy and Wall Street through his three newsletters:
IRS Free File| Link
Archived Under: Taxes , The Moneysherpa Pages
 Let the misery begin, it's tax season.To ease the pain and expense of filing, the IRS offers Free File. According the the IRS: "if your adjusted gross income was $54,000 or less in 2007, you can use Free File to prepare and e-file your taxes online. If you normally do not file a tax return but need to file a tax year 2007 return solely to receive your economic stimulus payment, you may now select from the list of companies on the Free File - Economic Stimulus Payment page." In addition to the IRS and Free File, the Moneysmartz Tax Preparation Guide and Directory offers tax preparation tips and information, including links to tax preparation software and tax forms.
All Eyes on the Federal Reserve Bank| Link
Archived Under: Government Resources , Investing , The Moneysherpa Pages
The Sound of the Other Shoe| Link
Archived Under: Investing , The Moneysherpa Pages
 In case you were not listening, there was a very loud boom from Wall Street today as Bear Stearns reached out for help from The Federal Reserve and JPMorgan. We won't bore you with the details, but we will pose the question, "what do you do when the other shoe drops and panic begins to take over?" Run. Stay put. Pray? The short answer is to try to keep your cool. However, since we are already jittery from a very rocky 2008, keeping cool is much easier said than done.As you attempt to stay calm, some insight into investor psychology may help soothe your nerves and clear your mind. A recent MSN article by Richard Conniff about how fear can make you lose millions, speaks to how a little fear is healthy, but too much fear can be disastrous in the end. Another similar article from Investopedia on fear and greed offers cautionary advice based on previous bubbles and crashes. After gaining a little perspective your feelings of fear may subside and be replaced with thoughts of the future and what you can do to prepare yourself, and your portfolio, for the long haul. This is possibly the best advice in both up and down markets.
Quick Tips to Lower ATM Fees| Link
Archived Under: Banking Services , The Moneysherpa Pages
Are you frustrated by ATM fees? The following easy to implement tips should help you lower your ATM fees right away:
Rainy Day Savings| Link
Archived Under: Money Management , Moneysmartz Editor , The Moneysherpa Pages
So, if you don't have enough socked away in your rainy day fund, then what can you do? First, don't panic, you can start saving today and in less than a year you'll be much better prepared. Next, and this is hard to do, try to pay yourself first. Set aside a small amount every month before spending or investing. We are notoriously bad about taking action in this way, so continue reading. Liz Pulliam Weston, an MSN personal finance columnist recommends getting a line of credit from your bank. If you do this, then be careful to avoid using the line to pay for non-emergency expenses. Otherwise, you'll only dig a deeper hole. By taking a few simple steps, you'll be thankful when the rain starts to pour.
Estate Planning Mistakes| Link
Archived Under: Estate Planning , Moneysmartz Editor , The Moneysherpa Pages
Not funding your living trust. Too much JTWROS property. Leaving too many assets to a surviving spouse. Not equalizing assets through gifts between spouses. Not having a will. Improper ownership of life insurance. Being donor and custodian of a uniform-gift-to-minors-act/uniform-transfer-to-minors-act account. Not knowing where all the "stuff" is. Naming the wrong executor. Not periodically updating an estate plan. This list should be a helpful reference as you fine-tune your estate plan or work with estate planning experts to create your estate plan for the first time.
Rating College 529 Savings Plans| Link
Archived Under: College Financing , Moneysmartz Editor , The Moneysherpa Pages
Fix Your Finances in a Month| Link
Archived Under: Financial Planning , Moneysmartz Editor , The Moneysherpa Pages
Maximizing 401(k) Returns| Link
Archived Under: Retirement Planning , The Moneysherpa Pages
The Self Employment Tax| Link
Archived Under: Business Ownership , Moneysmartz Editor , Taxes , The Moneysherpa Pages
For an easy to digest overview of self-employment taxes, visit Wachovia's Self-Employment Tax page with ways to report the self-employment tax to the IRS and available income tax deductions. For forms and an in-depth review of the self-employment tax, visit the Internal Revenue Service. To estimate your self-employment taxes, visit H&R Block's self-employment tax estimator. If you are paying self-employment taxes for the first time, then prepare for a shock. The good news is that a portion of your self-employment tax is an income tax deduction. Finally, Moneysmartz offers a complete list of self-employment tax resources.
Tracking Your Financial Goals| Link
Archived Under: Moneysmartz Editor , Net Worth , The Moneysherpa Pages
If you are in the mood for a financial assessment, then the December issue of Money Magazine offers tools and advice for tracking your financial goals and comparing where you stand to your peers. For extra motivation to get you started, see how your net worth stacks up with others. Results are by age and income, with the median net worth for youngsters around $400 and for seniors around $175,000. Additional tools and advice include: How to Afford an Expensive College for Your Children How to Launch Your Own Business If you don't start now, then it may be another year before you catch your breath and have a chance to plan again.
Best Brokerages for Stock Advice| Link
Archived Under: Investing , Moneysmartz Editor , The Moneysherpa Pages
If you are looking for a brokerage for advice, then StarMine's recent ranking of big brokerage performance is a good place to start. Wachovia Securities is at the top of the list, in part because of a strong buy on Comcast, with a 46% gain over the rating period. The remaining top ten includes Citigroup, Merrill Lynch, RBC Capital Markets, JPMorgan, Bear Stearns, Stifel Nicolaus, Deutsche Bank, UBS, and CIBC World Markets.
Planning for a Better 2007| Link
Archived Under: Financial Planning , Moneysmartz Editor , The Moneysherpa Pages
Securities Donation Calculator| Link
Archived Under: Moneysmartz Editor , Philanthropy , Taxes , The Moneysherpa Pages
If you are considering a year-end charitable gift, Fidelity Charitable Gift Fund's Securities Donation Calculator will help you measure the tax savings from selling the securities and contributing the proceeds to charity and paying any associated capital gains tax compared to giving the securities directly to charity and avoiding capital gains tax. The tax savings from contributing directly can be significant, so if you are inclined to give securities this year, consider giving directly to cut your tax bill.
How Are You Doing Financially?
Archived Under: Moneysmartz Editor , Net Worth , The Moneysherpa Pages
If you are interested in seeing how your are doing, not only your net worth, but in all aspects of financial planning, like college savings, asset protection, retirement planning, and budgeting, then the December 2006 issue of Kiplinger's Personal Finance magazine offers a financial fitness test to compare where you are. The test will show you where you stand compared to others taking the test including a small group of Kiplinger's readers. Tips for staying and getting ahead will help you improve your long-term financial health. Not surprisingly, the test shows that the meaning of millionaire is changing, with the majority of respondents saying they need to be at least a millionaire to meet their long-term financial objectives.
Housing Values in 152 Markets| Link
Archived Under: Moneysmartz Editor , Real Estate , The Moneysherpa Pages
To answer these questions and learn more about the state of the housing market, the December issue of SmartMoney includes a spreadsheet of housing values in 152 markets and a review of what's happening in real estate now that the bloom is off the housing boom.
Five Questions for a Better Retirement
Archived Under: Financial Calculators , Financial Goal Setting , Moneysmartz Editor , Retirement Planning , The Moneysherpa Pages
If you are willing to feel some pain today with the hope of a brighter retirement, then Fidelity's My Plan, requiring answers to five simple questions, is a relatively painless way to determine how much you'll need when you retire and what you need to do to get there. The My Plan tool is intuitive and pleasant; delivering good and bad news with a smile while providing concrete steps to change your investment habits and begin preparing for a better retirement.
Real Estate Rules for a Down Market
Archived Under: Baby Boomers , Moneysmartz Editor , Real Estate , The Moneysherpa Pages
Our current market downturn has captured the attention of a host of real estate bubble blogs and more recently cover stories from financial and general news magazines. One of these cover stories worth a read comes from the November issue of Business 2.0, featuring real estate guidance, including where to buy, where not to buy, bubble proof markets, and new rules of real estate. For the Rich Dad, Poor Dad crowd, the feature provides advice on buying low and renting high including a tidy formula for how to make the rent pay. With the raft of real estate guidance, you have a fighting chance to protect your home equity or even increase your net worth with a few well-informed moves.
Baby Boomers and Real Estate
Archived Under: Baby Boomers , Life Events , Moneysmartz Editor , Real Estate , Retirement Planning , The Moneysherpa Pages
An example of this media barrage, Newsweek's The Boomer Files, is a noteworthy boomer resource. The most recent installment focuses on real estate, with advice about where to retire, second homes, and real estate strategies such as reverse mortgages and mortgage payoffs. This is serious stuff for boomers turning 60 and for the rest of us a glimpse into our future and opportunity to get ahead of the game.
Kiplinger's Best of Everything 2006| Link
Archived Under: Moneysmartz Editor , The Moneysherpa Pages
Finding the Best Insurance Providers| Link
Archived Under: Insurance , Moneysmartz Editor , The Moneysherpa Pages
For individuals interested in doing a little homework before buying insurance, A.M. Best offers an extensive database of insurance company ratings. Since 1899, A.M. Best has been collecting insurance information, for both professionals and consumers. To gain full access to the ratings, you'll need to register and wade through some technical information. If you have limited time and perhaps comfort with the more technical aspects of the site, then print out the following page describing Best's ratings, and ask you insurance provider how they rank. Most should have the answer, which you can then use to compare against other providers. By taking these necessary steps, you’ll be better prepared to weather the next unexpected financial, economic, or political crisis.
BBBOnline Reliability Program| Link
Archived Under: Fraud , Government Resources , Moneysmartz Editor , The Moneysherpa Pages
Fortunately, there are programs to combat Internet fraud, including the BBBOnline Reliability Program, which connects consumers with legitimate businesses. Participating companies, after pledging to meet the BBBOnLine Reliability standards for ethical online business practices and agreeing to resolve complaints using the BBB's dispute resolution program or a similar program, may post the BBBOnline Reliability Seal on their websites. In addition to looking for the seal, consumers should visit the BBB site and browse the directory of BBBOnline Reliability Program participants. One final thought. Be sure to click the seal. After clicking, you should go to a page verifying that the company participates in the program or that their participation has lapsed. Since it's easy for sites to copy and post the seal online, make sure that the clicked seal goes to the BBBOnline site. Help other consumers by reporting abuse of the seal to BBBOnline.
Fighting Back Against Identity Theft
Archived Under: Fraud , Government Resources , Moneysmartz Editor , The Moneysherpa Pages
According to the Federal Trade Commission (FTC), over 10 million Americans every year get spooked for real by identity theft. Unlike an amused laugh from a poorly carved pumpkin, identity theft elicits fear and causes untold pain and suffering by those having information about them used to commit fraud. Fortunately, there are resources to help consumers fight back. The FTC, through its Deter, Detect, Defend, and Avoid Identity Theft program offers easy to follow tips and tools including a must view 10-minute identity theft video with ways you can protect yourself. Taking action won't remove the threat of identity theft, but it may keep the boo where it belongs and away from you.
Finding a Local Bank
Archived Under: Banking Services , Business Ownership , Financial Services , Local Financial Services , The Moneysherpa Pages
In the case of both business and personal banking, we often neglect researching bank assets, Federal Deposit Insurance Corporation (FDIC) certification, and the number of branches in our locale. To answer all of these questions, and more, The FDIC offers a directory of FDIC certified institutions, with information about total assets, specialized categories, and branch offices. For personal and business banking, this resource is particularly helpful if you are looking at a smaller regional bank and have concerns about long-term solvency, the number of branch offices, or certification. At the minimum, the FDIC directory is worth a few minutes before beginning what may be a very long-term relationship. For a list of primarily national banks, visit the Banking Services category in the Moneysmartz Directory.
Credit Card Company Websites| Link
Archived Under: Banking Services , Moneysmartz Editor , The Moneysherpa Pages
For those considering a switch, a study by Keynote Systems ranks credit card company websites in areas like ease of use, service, privacy, and security. We've included the two leaders from the Keynote study, Chase and Bank of America, as picks in the Credit Card Issuers category in the Moneysmartz Directory. We particularly like Chase for its high customer service rating.
Peer-to-Peer Stock Picking
Archived Under: Investing , Moneysmartz Editor , The Moneysherpa Pages
Goog Swoon and Portfolio Rebalancing
Archived Under: Investing , Moneysmartz Editor , The Moneysherpa Pages
Free Retirement Advice, Really (But for only two days)| Link
Archived Under: Financial Planning , Moneysmartz Editor , Retirement Planning , The Moneysherpa Pages
Google and Quickbooks 2007 Align
Archived Under: Business Ownership , Moneysmartz Editor , The Moneysherpa Pages
Kiplinger's Must-Read Investing Bloggers| Link
Archived Under: Financial Blogs , Investing , Moneysmartz Editor , The Moneysherpa Pages
|
 |
The Moneysherpa Pages |
A recent post in The Red Tape Chronicles highlighted the fact that many Americans do not have an 
The best way to combat the rising cost of college for your children is to begin saving as early as possible. A great way to jumpstart your savings and enjoy some valuable tax advantages is to enroll in an 
The New Year is in full swing and many of us have already forgotten our resolutions. If personal finance is still on your list, then the Simple Dollar weblog has a series it posted in January called 
Starting a business is daunting. Adding to the stress is an array of administrative tasks, not the least of which is dealing with the IRS. If you are self-employed and wondering how to calculate and pay your taxes, there are many helpful online resources that should lower your blood pressure, get your taxes out of the way, and allow you to focus on important tasks, like making money.
During the holiday season, the gap between Christmas and the New Year is usually a good time for quiet reflection and planning, allowing us to step back from the hustle and bustle of our daily lives and take in the big picture.
Sometimes the best financial advice is to be still and listen to your own counsel. However, for even the most skilled and self-reliant stock-pickers, an occasional dose of outside perspective can be helpful.
For many of us, the holiday season is a time to get together with family and friends and take a brief time out from our hectic lives. For others, it's a time to plan and prepare for a successful new year. If you are in the latter group, then Money Magazine's 
According to 
With almost 
With so much of our net worth tied up in real estate, it's not surprising that we are obsessed with home prices. Is your home overvalued? Fairly valued? Undervalued?
With the experts telling us how unprepared we are for retirement, it's no surprise that many of us put off retirement planning for as long as possible. If the experts are right, then most Americans will have a day of reckoning when confronting a retirement with inadequate savings.
Because home equity represents a significant percentage of total household net worth for most Americans, particularly the baby boomer generation that is now approaching retirement, real estate market downturns wreak havoc on our collective state of well-being.
If you've spent time with an insurance agent, then you may have left the conversation with a lot of anxiety about the personal and professional risks for which you are unprotected. The good news is that many of us overcome this hurdle and eventually protect ourselves against these risks. The bad news is that we often forget to look at the risk associated with the companies providing the insurance. In times of economic and political instability, marginal insurance providers are at risk, placing policyholders at risk.
Verifying the authenticity of a website or finding an authoritative third-party referral is something we often overlook when searching online. As it becomes easier and less expensive to produce a polished and professional looking website, the threat of visiting a fraudulent site increases.
October conjures images of ghosts, goblins, and mail order costumes. It's the time of year when getting scared is fun. 
For many of us, finding a local bank consists of locating nearby branches, surfing banking websites, and maybe visiting bank branch offices. For businesses, the task may be more complicated, based on existing relationships or referrals. 
How many credit card offers do you receive in the mail? By now, you are probably numb to the message and only consider switching credit cards or adding a new one based on an event like a hefty renewal fee or nasty interaction with a credit card issuer's automated phone system.|
|
|
Copyright © 2010 Moneysmartz All Rights Reserved Disclaimer: Nothing contained in Moneysmartz is intended to be, nor shall it be construed as, investment or financial advice. |