Personal Finance

Retire a Millionaire

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I was speaking with a financial advisor but not at his office. It was at a party where there was lots of informal chit-chat over a nip of the grape. One thing he said to me and some others standing close by was meant as humor, a joke. It was “People sometimes ask me, How […]

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Antoine Walker, NBA Star, On Blowing $110 Million

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Professional athletes tend to make a lot — and often lose a lot — of money. For many, it’s because they come into it quickly. They may not have ever had much to begin with. Others make poor investments. And others blow it all, then have the IRS on their tails. For Antoine Walker, the former […]

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Is a Big Bank The Right Choice for You?

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It’s incredibly easy to dislike (and make fun of) the biggest banks in the country — and often for very good reasons. They don’t care about you – they just care about their profits. They don’t make it easy for you to save money – they just want you to spend money and take out […]

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What’s The Best Way to Protect Your Money Online?

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No one wants to be the victim of an online scam or security breach. But it’s going to happen to someone — and you definitely don’t want it to be you. So what should you do to protect your money online? Well, there’s a lot of things. In fact, there’s a whole, long article in Bloomberg […]

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A Look at ING, the Global Force That Built ING Direct

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Most Americans have heard of global banking behemoth ING, but likely through their innovative and incredibly successful division ING Direct. ING Direct revolutionized the high-yield online savings account, bringing along with it an online banking system that didn’t rely on physical branches and provided low- and no-fee accounts. It’s a model many financial institutions have […]

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Use a Tablet For Banking? You’re Probably Engaged With Your Money.

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Early adopters of technology always tend to be a bit more enthusiastic and interested in the products and services relating to that technology. Just think about all of the folks who stayed up late waiting to order the iPhone 6 the day it came out – they’re going to be heavier users of the phones, […]

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What Will You Do to Avoid Banking Fees?

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We’ve had a bit of fun over the past few days talking about banking fees — how technology is cutting down on overdraft fees, and made-up (but plausible) “underdraft” fees. There’s plenty of bank fees you should never have to pay, but as banks continue to find new ways to charge fees — you may […]

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The Benefit and The Burden: Tax Reform, Why We Need It and What it Will Take

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In this week’s column, Fred Siegmund reviews “The Benefit and The Burden: Tax Reform, Why We Need It and What it Will Take” by Bruce Bartlett. In the opening sentences of the Introduction, author Bruce Bartlett tells readers the Federal tax code needs regular attention like a garden needs weeding. Even though the present weedy tangle […]

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If You Own a House and Aren’t Refinancing, Do It Now

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It’s a great time to be in the market for a house or to be a homeowner. It’s not because the housing market is heating up or because prices are rising (two things I think aren’t and shouldn’t be related). No, it’s because the cost to get a mortgage and pay a monthly payment is […]

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Meet Budgetable, the Love Child of Mint and Groupon

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If you’ve been following Automatic Finances, then you’ve gotten onboard with using account aggregators like Yodlee’s MoneyCenter and Mint to connect all of your bank accounts, set your budget and track your spending. And you’ve probably, over the past couple of years, signed up to receive daily deals from sites like Groupon and LivingSocial, who […]

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These Debt Collectors Picked The Wrong Woman to Mess With

It’s a short post, but something I just had to share with you. From ABC News: In a twist of irony, a West Virginia woman is trying to collect money from a collection agency. Diana Mey, of Wheeling, W. Va., won the largest judgment ever against an abusive debt collection company — more than $10 […]

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Day 7: Create a Budget

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Budgeting. Even the word screams BORING, right? Well, it’s not the most exciting thing in the world, but it is crucial to hitting your financial goals. If you assign a value to every dollar you bring in in a month (from fixed costs to flux costs to savings), you’ve given yourself a path to success. So […]

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Day 5: Realize Your Expected Income

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There’s two pieces to personal finance success: what you bring in and what you spend. The most important (and extremely simple) equation for personal finance success is what you bring in – what you spend. If that number is positive, your net worth is growing. If it isn’t, you’re going in the wrong direction. On […]

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