Now that the real data has come in, it’s looking like the Cash for Clunkers program was mostly a waste of taxpayer dollars. Consider the following: Read more
Our local paper ran yet another article featuring the stories of those who do not have health care insurance. The reporter undercuts the merits of the story by including the whinings of this woman who says she can’t afford health insurance. First, she quits her $85,000/year job and chooses not to continue her insurance coverage. She whines about that. Then she learns that when you quit your job in a bad economy, you may have trouble finding another one. Check. She whines about that. Finally, she lands another job at $60k/year and once again chooses not to purchase health insurance. Check. She whines about that also. Read more
Too many unemployed (or under-employed) college graduates) choose graduate school as a default option. I have been consistent in this message, particularly as to those who aspire to earn MBA or law degrees. For many who earn these degrees, the return on investment is poor or non-existent. The burdens of student loans far outweigh the short or long term benefit.
The question is: Are prospective law students paying attention? Read more
Tonight I used random.org to generate six numbers at random to determine the six commenters who would win a free copy of the FAILSAFE RETIREMENT™ System.
Here is a screen shot of the numbers that were generated: Read more
While on the treadmill this morning, I watched a piece on the Today Show that had me re-thinking the entire home foreclosure problem. Read more
Regular readers know that Mr. ToughMoneyLove is a baby boomer and that I write a lot about retirement planning at my Go To Retirement blog. That blog has garnered some substantial publicity lately, having been mentioned in both the New York Times and the October issue of Money Magazine.
Readers may also recall that I have been studying the work of Zvi Bodie, a professor of finance at Boston University. I first mentioned Prof. Bodie in my post on How Long Can this Bear Market Last and later read his book on Worry Free Investing. I’ve used Prof. Bodie’s ideas in our retirement income plan and now I’ve developed a system to help others do the same. Read more
This past two weeks has been all about high profile jerks in our culture. I’m tired of them as you know doubt are.
I’m also begging the media to stop putting microphones in front of Jimmy Carter. I hope he’s so old he doesn’t know what he is saying but either way, we need to stop listening. We have real money problems in this country, starting with our so-called friends in Washington. I lived and worked through the Carter presidency. Take my word for it: He was and is 100% incompetent in matters of economic policy. Read more
Risk-takers beware – the government may be after your paycheck. The Fed has announce plans to regulate the pay of bank employees at all levels where risk-taking decisions are made. We are not discussing just the top dogs who fly around in corporate jets:
Under the proposal, the Fed could reject any compensation policies it believes encourage bank employees — from chief executives, to traders, to loan officers — to take too much risk. Bureaucrats wouldn’t set the pay of individuals, but would review and, if necessary, amend each bank’s salary and bonus policies to make sure they don’t create harmful incentives.
So let’s see how this might work. Read more
Last night I watched part of a “baby boomer and finances” special on Public Television. Part of the program was dedicated to telling the stories of retirees who grew most of their own food. Read more
Mrs. ToughMoneyLove and I visited the Home Renovation and Remodeling Show at the Nashville Convention Center this past week-end. We were looking for ideas and potential vendors for some home upgrade/remodeling projects we are considering. Read more