Comments on: Money Magazine – July 2007 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/ Simple, applicable personal finance advice for the modern world Fri, 10 Feb 2012 03:55:09 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: dlm http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-721265 dlm Wed, 08 Jul 2009 21:40:55 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-721265 I wish I could find a good financial planner/income tax preparer. We tried one who turned out to be just an expensive ditherer. I'd like validation of our plans and investments and information on tax planning and returns -- banks and Canada Revenue keep giving conflicting information. I find a lot of the rules, regulations and information mind-boggling. I don't have a financially clear state of mind. I wish I could find a good financial planner/income tax preparer. We tried one who turned out to be just an expensive ditherer. I’d like validation of our plans and investments and information on tax planning and returns — banks and Canada Revenue keep giving conflicting information. I find a lot of the rules, regulations and information mind-boggling. I don’t have a financially clear state of mind.

]]> By: reulte http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-40659 reulte Fri, 29 Jun 2007 10:30:32 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-40659 Regarding travel and ATMs -- make sure to check with the card issuer that your code will work overseas. This only take a few minutes, but there are a few countries/ATMs/cards which don't always match. Also, check the country profiles on http://www.state.gov for any particular scams. (or is it http://travel.state.gov? Oh, well -- you'll find it. Regarding travel and ATMs — make sure to check with the card issuer that your code will work overseas. This only take a few minutes, but there are a few countries/ATMs/cards which don’t always match. Also, check the country profiles on http://www.state.gov for any particular scams. (or is it http://travel.state.gov? Oh, well — you’ll find it.

]]> By: Trent http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-40140 Trent Thu, 28 Jun 2007 02:56:43 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-40140 LocoMono: I was merely reporting on what was stated in the issue - they literally state that the S&P 500 is undervalued. LocoMono: I was merely reporting on what was stated in the issue – they literally state that the S&P 500 is undervalued.

]]> By: bushidozen http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-40093 bushidozen Thu, 28 Jun 2007 00:17:44 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-40093 @ TheLocoMono Actually, the Wilshire 5000, despite its name, tracks the entire US Stock Market. @ TheLocoMono

Actually, the Wilshire 5000, despite its name, tracks the entire US Stock Market.

]]> By: Fenix http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-40060 Fenix Wed, 27 Jun 2007 22:01:23 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-40060 On your comment about financial planners... I applaud you for being so financially educated, but not all of us are. Why would I be reading your blog if I was? I just hired a financial planner and he gave me some excellent advice about where to put my money, how to invest for retirement & to fund my kids educations, along with many other things. He will also be managing my investment account which I have neither the time nor the ability to manage myself, and the only profit he makes is off the profits he makes for me. What's wrong with that? I couldn't come close to getting the returns for myself that he has gotten for his clients mainly because I'm an infant when it comes to understanding the market. I think hiring him was one of the smartest financial decisions I have made and I'm worth nowhere near 8 figures! My $0.02. On your comment about financial planners… I applaud you for being so financially educated, but not all of us are. Why would I be reading your blog if I was? I just hired a financial planner and he gave me some excellent advice about where to put my money, how to invest for retirement & to fund my kids educations, along with many other things. He will also be managing my investment account which I have neither the time nor the ability to manage myself, and the only profit he makes is off the profits he makes for me. What’s wrong with that? I couldn’t come close to getting the returns for myself that he has gotten for his clients mainly because I’m an infant when it comes to understanding the market. I think hiring him was one of the smartest financial decisions I have made and I’m worth nowhere near 8 figures! My $0.02.

]]> By: martha in mobile http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-40035 martha in mobile Wed, 27 Jun 2007 21:08:03 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-40035 The advice on inheritance is good. My husband and I have received a few smallish inheritances over the past 15 years. We still have 90% of the total funds because we took the advice of a good book -- The Inheritor's Handbook -- which basically says to give yourself a little spree to avoid a really big, stupid spree. The advice on inheritance is good. My husband and I have received a few smallish inheritances over the past 15 years. We still have 90% of the total funds because we took the advice of a good book — The Inheritor’s Handbook — which basically says to give yourself a little spree to avoid a really big, stupid spree.

]]> By: TheLocoMono http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-40034 TheLocoMono Wed, 27 Jun 2007 21:05:16 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-40034 Expand your research and look into other index funds, the S&P 500 is limited to 500 companies. The Wilshire 5000 gives you a broader exposure across 5000 companies. They both have returned almost the same amount for the past 20 years. Maybe give or take 5% difference here and there. Even Goldman Sach and Morningstar have pretty good indexes. Indexes are still a good investment place to start with, just don't limit yourself to the S&P 500 because the herd is following it. The European index is doing far much better than S&P 500 and we are 10 times bigger than Europe. That should raise your eyebrow. Expand your research and look into other index funds, the S&P 500 is limited to 500 companies. The Wilshire 5000 gives you a broader exposure across 5000 companies. They both have returned almost the same amount for the past 20 years. Maybe give or take 5% difference here and there. Even Goldman Sach and Morningstar have pretty good indexes.

Indexes are still a good investment place to start with, just don’t limit yourself to the S&P 500 because the herd is following it. The European index is doing far much better than S&P 500 and we are 10 times bigger than Europe. That should raise your eyebrow.

]]> By: Minimum Wage http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-40022 Minimum Wage Wed, 27 Jun 2007 20:48:29 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-40022 Did Money magazine say anything about how to do the entrepreneur thing with no money and no credit? Did Money magazine say anything about how to do the entrepreneur thing with no money and no credit?

]]> By: Amber Yount http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-40002 Amber Yount Wed, 27 Jun 2007 19:22:57 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-40002 Hmm i'll have to pick this issue up tomarrow Hmm i’ll have to pick this issue up tomarrow

]]> By: Erin http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/comment-page-1/#comment-39989 Erin Wed, 27 Jun 2007 18:50:10 +0000 http://www.thesimpledollar.com/2007/06/27/money-magazine-july-2007/#comment-39989 I think you're confusing financial planners and money managers. Not all financial planners make money by either selling products or charging you a percentage of income to manage all your money. You can find fee-based planners and hire them to work on a single project. A fee-based planner can help you assess whether your retirement plan is on track and discover flaws you might not have seen. If you receive an inheritance, they help you determine how to manage it. They can help you create a plan to send a child to college and have a healthy retirement while also protecting against losses from illness. If you plan to start a business, a financial planner can help you determine if your business plan is solid and you have the necessary resources to support it before it becomes profitable. I think you’re confusing financial planners and money managers. Not all financial planners make money by either selling products or charging you a percentage of income to manage all your money. You can find fee-based planners and hire them to work on a single project.

A fee-based planner can help you assess whether your retirement plan is on track and discover flaws you might not have seen. If you receive an inheritance, they help you determine how to manage it. They can help you create a plan to send a child to college and have a healthy retirement while also protecting against losses from illness. If you plan to start a business, a financial planner can help you determine if your business plan is solid and you have the necessary resources to support it before it becomes profitable.

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