Dec
2
I've Contributed the Maximum to my Roth IRA
December 2, 2008 | Leave a Comment
The markets are in turmoil, the economy is in shambles and the end is nigh. Most people are scared. I've just contributed the max to my Roth IRA. Am I incredibly brave or incredibly stupid?
Here's my though process. You can't predict the markets. You can't time the markets. However, you …
Dec
1
It Doesn't Matter Where You Go To College
December 1, 2008 | 1 Comment
If you think you need to go to Harvard to succeed, think again. Many of today's top executives graduated from state universities.
The Wall Street Journal Any College Will Do.
Most CEOs of the biggest corporations didn't attend Ivy League or other highly selective colleges. They went to state universities, big …
Nov
28
Who Owns the United States?
November 28, 2008 | Leave a Comment
Would you guess the US Government owns huge chunks of the western United States? What does this have to do with wealth? Well, the number one secret of wealth is ownership, always have ownership.
Here's a map of the United States showing how much of each state the federal government …
Nov
26
SEC Shuts Down Prosper
November 26, 2008 | Leave a Comment
The SEC has issued a cease and desist letter to online lender Prosper.com. I lend money on Prosper so I have a vested interest in the outcome.
The problem is the SEC claims that loans Prosper facilitates are actually securities (stocks/bonds) not just loans. When you sell securities there are …
Nov
26
Investing in Tax Free Municipal Bonds
November 26, 2008 | Leave a Comment
Now might be a good time to get into tax free municipal bonds. But how do I invest? What are municipal bonds and how do I know if they are right for me? Read on.
I'm sitting on a lot of cash right now. Most of it's either in savings accounts …
Nov
25
No Stimulus Checks Yet
November 25, 2008 | 5 Comments
Many people have asked about the status of another stimulus check. What is the status of another payment? Are we likely to see another stimulus package?
The short answer is probably not. The first stimulus check took a massive effort.
The stimulus check helped a lot of people catch up on bills, …
Nov
19
How Much Can I Contribute to My Roth IRA in 2008?
November 19, 2008 | 1 Comment
In 2008 you can contribute $5000 to a Roth IRA if you are Under 50 (49 or younger). If you are 50 or over you can contribute $6000. Of course you have to check your eligibility to contribute to a Roth IRA.
Remember you can contribute as late as April 15th, …
Nov
18
Switching to Vanguard
November 18, 2008 | 1 Comment
It's official. Vanguard now has my money and it's all in their Target Retirement 2040 fund. The best part is, the transition was smooth and painless.
If you've been hesitating to move those old 401(k)'s and Roth IRA's, stop procrastinating and just do it.
Why did I chose Vanguard?
Because the expenses …
Nov
14
How to Visualize the Financial Crisis
November 14, 2008 | Leave a Comment
Mint.com has created a diagram of the financial sub-prime crisis. Head on over and take a look. As far as I can tell, it's accurate based on the sources I've read so far. I've been trying to explain this to friends, family and co-workers and this chart makes it …
Nov
12
The End of Wall Street
November 12, 2008 | Leave a Comment
Not to beat a dead horse, or bull in this case, but Wall Street as we know it seems to be gone. As a child of the 80's, I watched my share of Charlie Sheen/Michael Douglas/Michael J Fox movies. Wall Street was the place where kids with big dreams went …