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Archive for August, 2008

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Are 401(k) Plans Really That Bad?

Wednesday, August 27th, 2008

At least once a week I receive an article submission from a guy named Steven Selengut. Steven, a portfolio manager and author, runs Sanco Services, a portfolio management company. This week’s article is titled “Why 401(k) Retirement Plans Really Don’t Work,” which you can read in its entirety here. The author prefers pension plans to […]

‘Experts’ Say Consider Yourself Rich if You Have $5 Million

Tuesday, August 26th, 2008

In light of our discussion last week on the definitions of “rich” and “fair,” I thought I’d share this article by Bard Hem and L.M. Sixel that I read over the weekend in the Houston Chronicle: For some it might be $100,000. Others might say it’s $1 million, $5 million or even $100 million. Or […]

Are You Better Off Now?

Monday, August 25th, 2008

Apparently many Americans see themselves as better off now than they were seven years ago during the last economic downturn, according to an online poll administered by CNNMoney. CNNMoney was so surprised by the positive reactions to their question that they are asking readers to talk back and share their stories. Personally I am much […]

What’s the Absolute Minimum High School Kids Should Know About Personal Finance?

Monday, August 25th, 2008

I need your help. I would like to come up with a list of what you think is the absolute minimum that high school students should know about personal finance. Here’s a few things that I can think of off the top of my head (in no particular order): 1. An understanding of the time […]

An Interesting Question: What if EVERYONE Was Financially Savvy?

Monday, August 25th, 2008

From Liz Pulliam Weston: We personal-finance types constantly nag readers about spending too much and saving too little. But what would happen if everybody suddenly took our advice? What if every household in America: • Paid off credit cards in full every month and carried no high-rate debt? • Had an emergency fund equal to […]

Is The ‘Standard-of-Living’ Bubble Next?

Saturday, August 23rd, 2008

Another reading assignment: The Next Credit Crunch (read it, it’s very interesting). The next bubble according to Geoff Colvin will be a standard-of-living bubble due to a credit card crunch. …a big crunch is coming – and here’s why. Credit card debt, like mortgage debt, gets bundled, securitized, and sold off by banks. Citigroup, one […]

Why My Wife and I Have Money

Saturday, August 23rd, 2008

Last weekend, during our trip to San Antonio, my wife and I took a short drive up to San Marcos to check out their massive outlet mall. It is unbelievable how big their outlet center is. To top it off, last weekend was our tax-free back-to-school shopping weekend so LOTS of people were out shopping. […]

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