Ask the Expert: Saving in the Fast Lane of High Yields

by Walter Updegrave
Thursday, September 20, 2007provided by

Question: People are often advised to keep emergency funds in a secure investment vehicle that's highly liquid, like Treasury bills or a money-market fund. But wouldn't it make more sense to invest emergency funds in a higher yielding asset class, use a home equity line of credit for financial emergencies and then sell off some of the higher yielding assets in the emergency fund to repay the line of credit? - Dale, Charleston West Virginia
Answer: This is one of those strategies that comes off flawlessly in theory and may very well work in real life too - except when it doesn't.
And, unfortunately, the times when it doesn't work well are the very times when you will most likely really need the security of a bona fide safety net. To give you a sense of what I mean, let's do a little thought experiment.

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Reaching the $5 Million Club Takes an Open Mind

by Anne Kadet
Monday, May 14, 2007provided by

The Old Saying is true: The rich are different. But not only do their values and habits set them apart from the hoi polloi, they're different from their wealthy predecessors of a generation ago. For those interested in joining their ranks, it helps to understand why.
To enter the nation's top 1%, you need more than $5 million. And if you get there, you'll have plenty of newly-arrived company: The number of U.S. "pentamillionaires" has quadrupled in the past 10 years, to more than 930,000. Indeed, 70% of the nation's big family fortunes are less than 13 years old, according to research and marketing firm The Harrison Group. And the people who amassed them are, first and foremost, entrepreneurs — risk takers for whom wealth is a byproduct of pursuing their passion.

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http://finance.yahoo.com/banking-budgeting/article/103017/Joining-the-5-million-Club-Takes-an-Open-Mind

Digging Out

by Tom Herman
Sunday, July 1, 2007provided by

How do you know whether you need to spend more time getting your financial affairs organized?
Answer: When a professional organizer sends you her latest book on the topic -- and you lose it before you get a chance to open it.
That's what happened to me recently, much to the amusement of several colleagues who sit near the mountains of books, papers, magazines, notepads, umbrellas, coffee cups and tax publications lying around my work space and spilling out of more than a dozen file cabinet drawers. One friend politely informed me I don't really need an expert organizer. I need an archaeologist.

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Lucky 13 Savings Strategies

by Cheryl Allebrand
Thursday, August 16, 2007provided by

Saving for emergencies doesn't have to be about painful cutbacks or Draconian spending measures. Sometimes we get so focused on where we're going to find extra money that we forget the easy pickings are in setting up good savings strategies. Follow these 13 tips to save money without even trying.

Sure-fire emergency fund builders

1.	Autopilot saving and bill pay
2.	After paying off debt, keep paying yourself
3.	Enforce 24-hour rule on impulse buys
4.	Leave the credit cards at home
5.	Plan ahead, budget for fun
6.	Make things 'interest'-ing
7.	Learn to save short-term splurges
8.	Reward yourself
9.	Remove the temptation
10.	Treat it like a friend
11.	Keep them separated
12.	Enjoy compounding for a change
13.	Treat it like taxes

Cutting the Financial Umbilical Cord

by Erin Burt
Friday, September 21, 2007provided by

You have your own apartment. Your own paycheck. You may even have your own spouse and children. So why do your parents still prepare your taxes, balance your checkbook or manage your investments?
Isn't it about time you grew up?

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http://finance.yahoo.com/banking-budgeting/article/103564/Cutting-the-Financial-Umbilical-cord

20 Timeless Money Rules

by Carla Fried
Thursday, August 23, 2007provided by

Money Magazine collected the best advice from some of the smartest investors (and other people) who have ever lived.
1. Be humble
When you do not know a thing, to allow that you do not know it--this is knowledge.
--Confucius
Investing is a big bet on an unknowable future. The mark of wisdom is accepting just how unknowable it is. Granted, that's not easy. Our brains are built to think the future will be like the near past. And we're too ready to act on the predictions of pundits, who are no more clued in than we are about what lies ahead.

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http://finance.yahoo.com/banking-budgeting/article/103404/20-Timeless-Money-Rules

Beat Back 5 Financial Fears

by Jeanne Sahadi
Friday, August 24, 2007provided by

Everyone's got concerns when it comes to money, but some have fears that can really put a big hole in their financial future. Here's how to overcome five common ones.
1. Fear of coming clean with your partner
You know it's bad. So bad you'd really rather keep it to yourself. Why, you figure, ruin your partner's day with news of your mounting debt or the fact that you've been living off your savings?

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