Money

Another Relationship Lesson - Money Matters

As I told you in last week's posting, I recently went to an annual conference, SmartMarriages. Through several days, there were a multitude of workshops on a diverse number of subjects having to do with relationships from all different aspects. Since so many couples argue about money, I decided to devote this week's blog to this concern. There were a lot of very interesting points brought out that I would like to pass on to you. Hopefully, this information will help your relationship. What does money mean to you? More…

Holiday Retirement Inn: Here We Come!

As the economy declines and seniors’ homes aren’t worth what they once were, and retirement nest eggs are lost just when they are needed most, seniors are trying to figure out creative ways to pay for their retirement years. Before giving up and moving in with your kids, here is an idea that has been circulating in various forms on the Internet for years, but now it is actually quite worthy of consideration! More…

A Great Rule of Thumb

As I mentioned a while back, Frank Armstrong—a terrifically smart CPA—and I are working on a book that will be called Rescuing Your Retirement. While talking the other day, Frank came up with this wonderful rule of thumb: More…

It's our fault: We elected them

Did you see this in today's Wall Street Journal? "As President Barack Obama's $825 billion economic-recovery package began making its way through Capitol Hill, congressional budget analysts suggested a key plank of the plan may not provide as big a near-term lift for the economy as expected. "The nonpartisan Congressional Budget Office projected less than half of the $355 billion that House Democrats want to spend on highways, bridges and other job-creating investments is likely to be used before the end of fiscal 2010. The CBO said the balance would likely be spent over the next several years, after the recession is projected to end." More…

Don't try to catch a falling knife

A confession. I sometimes buy individual stocks. Not often. And never with very much money because I really do practice what I preach and believe in having a fully diversified portfolio. (Besides, I have three kids in college. There isn't a whole lot of money to spare.) But, I will from time to time I will buy a stock because I think I have spotted something that most people have missed. So, how do I with my little investing hobby.? Not great. My biggest failing is that I try to identify when I think the price of a good stock has hit bottom. Almost always, I buy too soon. What triggered this thought was the price of Citibank. I thought about buying it when it fell to $10 a share. And again at $8. And I almost placed an order when it dipped below $4. More…

Do as I say?

Back when dinosaurs ruled the earth, I had a radio talk show where for three hours a day I answered financial questions about such things as the best way to pay for college, and what kind of mortgage to get. Eventually, we arranged it so I could do the program out of my office at Financial World in New York—callers liked that because periodically they would hear police siren in the background—but at first I had to go into the studio. The guy on before me, a charming fellow, did a similar show. He was a legend in the business, someone I grew up listening to. One day, he was arrested for insider trading. More…

A Quick Portfolio Quiz

Here is news that won't stop the presses: The Stock Market Meltdown of 2008 has devasted just about everyone's savings portfolio. But in addition to dramatically reducing the amount of money you have, it may have shifted the percentage of money you have in various asset classes. (For example, the percentage of your holdings in bonds and cash are probably greater than they were, given how far stocks have fallen.) More…

Why customer service is good

Judging by the reaction I received to yesterday's blog, a lot of you have had your own Verizon customer service horror stories. Here's a quick example of how not every company is clueless when it comes to taking care of their customers. While on my just completed vacation, I took a two of kids over to Manatee County (Fl) Golf Course to hit a couple of buckets of balls. The kids were using my clubs and as fate would have it, Sam, the 21-year-old, somehow snapped off the head of my 3 wood. The clubs were a Christmas present, and while it is more than possible the 3 wood was defective, my first thought (which I didn't share with Sam) is that he had probably hit the club against the ground and snapped it off. (Sam has only recently started playing golf.) More…

Gaining Wisdom

In the middle of a very troubling customer experience yesterday, I came to a very pleasant conclusion: I am glad I am not young any more. I was trying to cancel a service I receive from a utility. (I won't name them because Verizon gets enough bad press as it is. Just Goggle "Verizon" and "customer service." You'll see.) Canceling the service took four separate calls and a total of 1 hour and 13 minutes on hold--my phone has a built in timer, and I kept a running tab. Somewhere around the third call, when I finally got through, I mentioned all the time I was spending on hold. The person on the other end said, "oh. You called on Monday. That's our busiest day." Right then I realized no baby boomer designed Verizon's customer service program. More…

Stay the course. Stay the course. Stay the course. Stay the course. Stay the course.

I quote verbatim from today's Wall Street Journal: "Last week's 4.8% swoon was the worst weekly decline since U.S. stocks began their rally on Nov. 21, and now the fear is that the market may be beginning another leg down." Let me see if I have this right. Last week the Journal said, in the article obliquely referenced in the quote above, stocks were due to rise. Today, they are saying they may fall. I am not picking on the Journal. It is a great paper. I am picking on the way people cover investing. They need to write something every day. But that doesn't mean you have to do something every day with your money. Or every month. If you are happy with the way you have allocated your money, then, in the words of the headline "stay the course." More…