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Disclaimer

Just in case you were confused, I am not your personal financial adviser. I'm doing my best to write up everything I know and learn about finances on this site. I hope that the information I am providing will be helpful to you, but I can't guarantee it. So make sure that you do your own research and get multiple independent opinions before moving your money around.

How is your financial health?

Money Magazine has a fun little online calculator to determine your financial health.
You start by entering your age and gross income and then answer a few short questions about each of the following categories:

Housing payments
Debt
Emergency fund
Investment diversification
Investment in company stock
Life insurance
Retirement savings

Here’s some personal finance take home points from the exercise:

Housing payments should not exceed [...]

Now is the time to start saving for retirement

Money Magazine reports that now may be a great time to begin investing.  If you haven’t started saving for retirement perhaps you should consider beginning to assemble a nest egg.
They begin by stating:
Starting a 401(k) is a bit like entering a marriage. It’s a long-term commitment, not a short-term fling…. If you’re in the early [...]

Playing by the new rules of financial security

Money Magzine continues it’s current obsession with discussing new financial rules for the post-economic crisis world.  They list a few recommendations based on where you are in your career.  I’ve abridged them below for you.

Those just starting a career1. Save money for down payments (you’ll need at least 20%).2. Buy a house.3. Diversity your portfolio.4. [...]

6 ways to get your 401(k) back on track

If your retirement accounts are feeling the pain of the recession CNNMoney lists some dos and don’ts.
1. Continue investing2. Diversify your portfolio3. Rebalance your portfolio4. Don’t tap your retirement account for non-emergencies5. If you leave your job (or are laid off) roll your 401/403 account into an IRA6. Don’t give up
My take:

Definitely continue.  And if [...]

Are there new rules of financial security?

Has the financial crisis totally changed how the rules of the game?  Money Magazine thinks so and lists 7 new rules for financial security.  I’ve listed them below along with some commentary.
Rule #1: Risk
Old thinking: If you can stomach the ups and downs that come with risk, you’ll be rewarded.
New rule: Risk isn’t about your [...]

Retirement is more than a fat 401k plan

A recent article in USA Today talked about how retirement is much more than a financial number. The article explains that:
Retirement challenges your identity, changes your relationships and may leave you feeling rootless.
Retirement planning is huge in the world of personal finance and us personal finance wonks debate endlessly over just how much money you [...]