Hot off the presses after my 401k loss announcement, Fidelity also reported 401k balances dropping 28% in 2008. The average account went from $69,000 to 50,000. Good news is that contributions actually went up slightly since 2007. So while on paper a lot of us lost money, we still have more shares in our portfolio. [...]
I received my year end statement from Fidelity yesterday for my company Roth 401k. Now, we all know how bad 2008 was in regards to investments. The Dow Jones Index lost over 30% alone. Now, I knew that my 401k was going to be bad, but can you imagine seeing the difference between my contributions and [...]
Personal Finance Links February 5th
- $15,000 Homebuyer Tax Break – Jim brings up a discussion about the suggested $15k homebuyer tax break/credit. This type of legislation will have more negative impacts on the market.
- The “Flight of Talent” Argument Really Cracks Me Up – AFM pokes fun at limiting executive pay. I think he's wrong in the sense that executives will (rightfully) steer clear from these companies.
- How to Claim the Recovery Rebate Credit – Lots of discussion around the recovery rebate credit – nickel breaks it down for us.
Interesting article I just read. Experian, one of three major credit bureaus, is pulling out of FICO. More specifically, they aren’t going to let Fair Isaac (who owns MyFico), provide users with a FICO score based on their data. This will be effective February 14th. Happy Valentine’s Day!
My Thougths
Experian wants to break up the FICO [...]
The first month of Paying For Retirement went by pretty fast. I came out in the new year posts blazing, posting 7 out of the first 8 days of the year. I hit a bump in the road midmonth but still managed to post at least once a week. Final tally for January 2009 was [...]
I was asked the other day “Should I set my mortgage payments to automatically withdrawal?” Being one who has every possible bill set up to be paid automatically, I thought this was a gimmie. However, it did make me think of the questions you should ask yourself and think about when deciding whether or not [...]
The carnival is up. This week it is being hosted by Funny About Money. My article about free online storage was selected for this week’s carnival. Be sure to check out all the other great submissions. If you haven’t backed up your computer yet, start here!
Wall Street Journal had an article the other day discussing the pros and cons of recharacterizing your Traditional IRA to a Roth IRA. The thinking is that you can take advantage of lower taxes due to the big hits the market has taken. If you move your Traditional to a Roth, you will have to [...]