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Linkfests Are Fun!

Nickel is putting a lot into his retirement funds – a SEP IRA, 403b, and a 457b [3]. Whew! And when you have four children, a potential 9% increase in milk prices [4] can be quite disconcerting. MBH hits up the yard sales [5] 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 [6] – 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 [7]. Now, it’s one thing to spend your tax refund, it’s another to spend a tax refund you aren’t getting [8]. 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 [9] 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 [10]. You can’t get yourself out of a hole if you keep digging it deeper… that just doesn’t make sense.