Michael on October 24th, 2008
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You: Pay taxes on losing investments?  That sounds counterintuitive.
It is counterintuitive.
You: Okay.
But it is what can happen and is likely to happen to many mutual fund holders this year as reported by The Wall Street Journal earlier this week.
You: What? I own some mutual funds. I’m going to owe taxes on them even though they’re [...]

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Michael on October 14th, 2008
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The stock market is hyperactive.
You: Gee, you think?
Indeed.  The last thing I saw this volatile was Joe Pesci in Goodfellas.
You: That guy was explosive!
Fortunately, less people will be murdered as a direct result of this market’s volatility.
You: I sure hope so.
One of the things to remember during periods of economic certainty is that the basics [...]

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Michael on October 10th, 2008
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Told by British comics during 2007, this remains one of the more compelling explanations for how we got to where we are today.
Here’s the video.

Continue reading about Friday humor: The real cause of the financial meltdown

I just got home from three days with over 3,200 financial planners.
You: How is that even possible?  I didn’t think there were even 3,200 people in New Hampshire.
I was at the 2008 Financial Planning Association’s annual conference in Boston. It just finished yesterday.

You:   Crazy timing.  Was everyone stressed out?
While it was, indeed, strange timing given [...]

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Michael on September 19th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
I just received a significant raise and now I can afford to save more.  I already max out my 401(k) and a friend of mine said [...]

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Michael on September 17th, 2008
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You: OHMYGOD!
The market?
You: No, the Yankees. Of course the market!
Calm down.
You: Are you calm?
Actually, yes.  I got pretty upset by a certain football game last weekend, but otherwise, yes, I’m calm.
You: Is this your whole “long-term perspective” thing?
Absolutely.  Assuming you’re not holding crap investments that are poor –
You: But how do I know if my [...]

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Michael on August 20th, 2008
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You: Which funds should I pick?
What?
You: In my 401(k) account. . .I have like a dozen funds to choose from. Which ones should I pick?
I can’t give you specific investment advice.
You: Right. I knew that. Well, then, how can I pick the right funds?
There aren’t any “right” funds.
You: Okay, I think you’ve got [...]

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Michael on August 8th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
With all that’s going on in the economy, I feel like I should be doing something differently.  Should I?

–Mike N., Tacoma, WA
STRAIGHTFORWARD ANSWER
You probably shouldn’t [...]

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Michael on July 8th, 2008
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Although I am often asked to speak to recent grads, I have never been asked to speak at any graduations. But if I were, I imagine I would deliver something along the lines of this speech.
Today is part 9. To see the entire speech released so far, click here and read from the bottom [...]

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Michael on June 6th, 2008
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It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question
Do I need to have all my debt paid off prior to retirement?
–Mick V., Uniondale N
STRAIGHTFORWARD ANSWER
Not necessarily, especially when it comes to your mortgage. And [...]

Continue reading about Retire Debt-Free: Friday Q & A