The new Consumer Finance Protection Bureau is asking the public to vote on two draft designs for the mortgage disclosure form. The goal is to make it easier for the borrower to understand the loan terms. They call it "Know What You Owe." The new form, when it’s finalized, will replace the current Good Faith […]
Latest Blog Posts
Better Work For A Large Company Or For A Small Company?
If you work as an employee, do you work for a large company or for a small company? If you have worked for both types, which do you prefer? Speaking of looking for a new job for better pay, a former colleague just told me an opportunity at the company he’s working now. Because he […]
Take Money Off the Table After a Good Run
Almost three years ago, when the stock market entered a bear market, I devised a plan for overbalancing, which called for increasing the percentage of my portfolio invested in stocks as the market goes lower. Stock Market Allocation to Stocks -5% 60% -10% 60% -15% 60% -20% 65% -25% 65% -30% 70% -35% 70% -40% […]
In-Plan Roth Rollover: Practically Useless
A new law passed last year, Small Business Jobs Act of 2010, added a provision to allow participants in 401k or 403b plans to move their money from a traditional 401k or 403b account to a Roth 401k or 403b account within the same plan. This is called an “in-plan Roth rollover.” As a practical […]
Career Advancement Or Side Business?
Reader simplesimon left this comment to my post last week Wages During and After Recession: Regarding how to earn more, check out the I Will Teach You To Be Rich blog by Ramit Sethi. He tries to get people thinking on what their skills are and how to turn that into income. From what I’ve […]
Inherited IRA and Roth Conversion Pro-Rata Rule
An inherited IRA isn’t yours. It isn’t included in the pro-rata calculation unless you are the spouse of the deceased and you make the inherited IRA your own IRA.
Customer Service Hours at Mutual Fund Companies and Discount Brokers
Today is Good Friday. Stock and bond markets are closed. If you have a question about your account, is the mutual fund company or brokerage firm where you have your money open to answer your questions? I’m not talking about automated IVR systems. I’m talking about live human being customer service reps. I polled some […]
Bond Yield and Risks Triangle
There was an article on Washington Post by Robert Pozen and Theresa Hamacher about bonds: A bond backfire after racing to buy long-term Treasuries and sell tax-exempt funds Although I don’t agree with everything they said, especially their error about a TIPS fund in taxable accounts, on balance it’s a good article about the yield […]
Wages During and After Recession
Once upon a time, a now-defunct financial media company had a Twitter contest asking people to put a piece of financial advice into three words. My submission was: Earn, Save, Invest I didn’t win, but I still think that’s basically everything about personal finance. If I’m allowed a fourth word, I would throw in Insure […]
US Treasury Banks With Bank of America
I know many people complain about Bank of America. I saw this stamp on the back of the check I wrote for my 2010 federal income tax. Apparently the IRS took my check and deposited it in US Treasury’s account with Bank of America. It makes Bank of America true to its name.