Linkfests Are Fun!
Nickel is putting a lot into his retirement funds – a SEP IRA, 403b, and a 457b. Whew! And when you have four children, a potential 9% increase in milk prices can be quite disconcerting. MBH hits up the yard sales this week.
Despite the misleading title, FMF does highlight a very important Smart Money article on how some brokerage firm employees are dispensing financial advice – a strict no-no. To say that it’s bad advice wouldn’t be fair, it’s more accurate to say it’s not professional advice (in the strictest sense) and that it’s illegal advice. Well, I suppose it is bad advice.
Putting your tax refund into a Roth may be sound financial practice but it’s certainly not fun, Flexo outlines fun ways to spend your tax refund. Now, it’s one thing to spend your tax refund, it’s another to spend a tax refund you aren’t getting. Counting your chickens before they’ve hatched is always a bad idea.
JLP highlights a typical arbitraging tactic – buying popular items cheap and selling them once they run out in the stores on a site like eBay. One year in college I saw that Ashton Kutcher wore a green John Deere mesh hat on Punk’d so I snatched up a ridiculous amount (over a hundred) from various John Deere distributors for about $5 a piece and sold them on ebay for $25-$30 depending on the sucker buyer. It was pretty sweet.
Lastly, Gen X Finance has been doing a series called 24 Signs That You Could be in Financial Trouble and one that I found very poignant was #11: Consolidating Debt While Still Using Available Credit. You can’t get yourself out of a hole if you keep digging it deeper… that just doesn’t make sense.





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