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Linkfests Are Fun!

Posted By Jim On 03/31/2007 @ 5:59 pm In Personal Finance | 1 Comment

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.

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[1] Tweet: http://twitter.com/share

[2] Email: mailto:?subject=http://www.bargaineering.com/articles/linkfests-are-fun.html

[3] SEP IRA, 403b, and a 457b: http://www.fivecentnickel.com/2007/03/26/minimizing-our-taxes-with-sep-ira-403b-and-457b/

[4] 9% increase in milk prices: http://www.raising4boys.com/2007/03/30/milk-prices-on-the-rise/

[5] yard sales: http://www.mightybargainhunter.com/2007/03/29/yard-sale-booty-for-this-weekend/

[6] brokerage firm employees are dispensing financial advice: http://www.freemoneyfinance.com/2007/03/shocker_many_br.html

[7] fun ways to spend your tax refund: http://www.consumerismcommentary.com/2007/03/30/10-ways-to-spend-your-tax-refund-for-fun/

[8] spend a tax refund you aren’t getting: http://www.myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return

[9] buying popular items cheap and selling them: http://allfinancialmatters.com/2007/03/27/got-any-gold-in-your-closet/

[10] Consolidating Debt While Still Using Available Credit: http://genxfinance.com/2007/03/27/24-signs-that-you-could-be-in-financial-trouble-11-consolidating-debt-while-still-using-available-credit/

Thank you for reading!