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• The bailout: 'Choosing between a rock and a hard place'

  Posted Oct 02 2008, 11:05 AM by Karen Datko
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  Filed under: investing, banking, taxes, Karen Datko
  Money Blog: Smart Spending Blog - MSN Money

  To bail out or not to bail out -- what do personal-finance bloggers think Congress ought to do? Sorry to tell you this, folks, but they're as conflicted as the rest of the country.

  Few are fearful. More are confused. Many are angry that greedy people have put the country and the economy in the current situation. "There's little to feel good about," says "Lazy Man" at Lazy Man and Money. "It's like choosing between a rock and a hard place."   Read More...

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• What kids don't know about personal finance

  Posted Apr 14 2008, 01:10 PM by Karen Datko
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  Filed under: investing, credit, taxes, Karen Datko
  Money Blog: Smart Spending Blog - MSN Money

  A new survey shows that only 48.3% of high school seniors could correctly answer basic questions about personal finance. That's the worst score in the six times the survey has been conducted.

  For instance, 48% realize that a person who pays only the minimum due on a credit card each month will end up paying more in finance charges than those who pay more than the minimum. In fact, 18% thought the person who pays off the entire balance each month will pay the most finance charges.

  Actually, Steve at brip blap, who posted about the survey results (to read the post, click here) made public by the Federal Reserve last week, thinks there is reason for optimism in these answers. He goes on a little political rant to make his point.   Read More...

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• A cautionary tale: The importance of asset location

  Posted Jan 31 2008, 07:06 AM by Karen Datko
  Filed under: investing, retirement, taxes, The Dough Roller
  Money Blog: Smart Spending Blog - MSN Money

  This post comes from partner blog The Dough Roller.

  Asset location involves dividing investments between taxable and tax-deferred accounts in the most tax-efficient manner.

  As a general rule, mutual funds that generate a lot of dividends or capital gains should be placed in 401(k), IRA or other retirement accounts. Investments that do not generate a lot of dividends or capital gains can be placed in taxable accounts. Following this strategy, I've put all my bond funds, REIT funds and most of my small cap funds in retirement accounts.

  What happened to REIT mutual funds last year offers a hard lesson for some about why asset location is so important.   Read More...

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• Gift from Congress comes with a lump of coal

  Posted Dec 27 2007, 12:47 PM by Karen Datko
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  Filed under: investing, debt, taxes
  Money Blog: Smart Spending Blog - MSN Money

  Dan at Money Myths congratulates Congress for sparing 21 million Americans from having to begin paying the dreaded alternative minimum tax -- or so-called "awfully mean tax" -- but asks: Why did this take so long? By waiting until six days before Christmas to act, Congress made life difficult for the IRS. If you've been used to filing your taxes in January and getting a refund, you may have to wait an extra month before the IRS can begin processing tax returns. And that, Dan calculates, can cause some pain.   Read More...

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• Consider an HSA during open-enrollment season

  Posted Nov 02 2007, 09:10 AM by Karen Datko
  Filed under: investing, retirement, insurance, taxes
  Money Blog: Smart Spending Blog - MSN Money
  Many employers are holding open enrollment in health-insurance plans, so it's time to think about your options as the cost of insurance continues to rise . The Sun's Financial Diary , in two excellent and comprehensive posts, explores switching to a high-deductible plan partnered with a health savings account . If your employer doesn't yet offer this combination, and you're unhappy with the available plans, you can pursue it on your own . Sun notes that an HSA allows you to invest pretax money to build savings for future health care and, eventually, retirement spending, but you must be enrolled in a high-deductible plan to start one. (We'll add that for people who don't have health insurance , the lower premiums of a high-deductible plan might put the cost of health insurance within their reach.)
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