Hard Truth Week in Review – Helpful Links Edition

I am constantly on the look-out for new online resources offering interesting or helpful information on personal finance. Although I often project Mr. ToughMoneyLove as a personal finance know-it-all, I actually don’t know it all. (I just know more than the politicians and FICO.) Read more

Flu Shots and the Small Business Entrepreneur

Yes – “flu shots” and “entrepreneur” are related. Just stay with me for a short post and I will explain. Read more

What is Your Retirement Risk Index?

If you want to read some scary stuff this Halloween, check out the latest “retirement risk” data compiled by the Center for Retirement Research at Boston College.  The National Retirement Risk Index (NRRI) focuses on data indicating how well-prepared American adults are for retirement. Read more

Don’t be Fooled by GM and Other Readings

Chevrolet is so proud of its 60 day “bring it back if you don’t like it” policy. It’s president is now bragging that only one car has been returned under the policy. I’m not impressed. I hope car buyers aren’t falling for this “free trial” deception. Read more

Financing the Unemployed Networkers

Congress is debating yet another extension of unemployment benefits because thousands are losing theirs. Democrats want to pay to for it by maintaining an extra tax on employers that was supposed to be temporary. In short, more tax and spend. Republicans want to use stimulus dollars to fund the benefit extension. That makes more sense to me because stimulus funds haven’t exactly stimulated the creation of a substantial number of jobs. Many economists are now saying we may have a “jobless” recovery because employers have figured out ways to permanently lean their operations. Having fewer, more productive employees is good for business. Read more

Fraud, Waste, and the First Time Homebuyer Credit

The Cash for Clunkers program was by many accounts a waste of taxpayer money because its primary economic effect was to time-shift a bunch of new car sales that would have happened anyway. We also need to critically examine the first time homebuyer credit because the real estate industry is lobbying Congress to extend and expand it. That alone makes me suspicious that the program is a taxpayer ripoff. Read more

Misguided Reporting on Forcing Banks to Lend

Banks of all kinds have become popular targets for everyone. No one likes them. Not liking them doesn’t mean not wanting to borrow money from them. Some folks – including at least one clueless small business owner – think that banks should be forced to lend to them. At least one reporter is all over this important story. Read more

Hard Truth Week in Review – Health Care Home Stretch Edition

With the passage of the Baucus health care bill out of the Senate Finance Committee, we have entered the home stretch for health care reform legislation. I think the final bill will have a public option although the Baucus bill does not. My biggest concern is that for those folks who already have health insurance, the “reforms” will ultimately lead to higher premiums for your coverage, so that others can obtain coverage at lower cost. In other words, the law when enacted will be effectively become another welfare or wealth distribution program. I am particularly worried about what will happen to the cost of Medicare supplement programs and Medicare premiums for our seniors. For the speed reader, the AARP published a nice visual summary of the Baucus bill. Read more

The Hard Truth About Stocks – a Follow-Up

Several weeks ago I announced the launch of my Failsafe Retirement blog and site. In that post, I cited an interview of Prof. Zvi Bodie that was published in the October issue of Money Magazine. The interview was captioned “You Can’t Handle the Truth About Stocks.” You may recall that Bodie believes that most investors take on too much risk by relying on the stock market to provide retirement income. Read more

Consumers to Banks: Take this Card and Shove it

Consumers are unhappy with their banks. No surprise there. What is remarkable is the tangible way in which they are expressing their unhappiness. Credit card debt declined 13.1% in August. This was the 11th straight month of decline, an all-time record. Read more

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