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Entry bubble Investing in Gold

By: Nancy | January 24, 2008 | Category: Money

stack of gold coinsOn January 24, 1848, a few glistening flakes of rock, plucked from the water near a California sawmill set off America's first gold rush.  But I've been noticing a new gold rush under way. TV news shows, infomercials and newspaper ads are popping up all over encouraging people to invest in gold as an alternative to stocks.

During changing or uncertain financial times when stocks and the value of the dollar go down, gold prices often tend to go up, as people see gold, a commodity they can actually hold in their hands, as having ultimately more value to them than less tangible investments like stocks. And as more people buy gold, the demand drives up the cost.

Financial experts disagree on whether gold is a good investment. Some recommend buying just a small amount as part of your investment portfolio  because of the highly fluctuating nature of its value. Others say buy lots; and others say don't bother with gold at all. The choice is yours.

There are a number of ways you can invest in gold,  including bullion, certificates and coins. Most people look to an investment advisor or company to guide them in making a choice. But before you entrust someone to invest your money in gold or anything else, check to be sure they're licensed with your state securities administrator. If an individual broker or an investment company won't give you a thoroughly prepared prospectus--a formal document detailing the plans, risks and cost of their services--or promises you a quick or high return on your investment, be suspicious. See ConsumerAction.gov for more ways to tell if an investment broker is on the up and up.

If you're considering buying gold coins, the U.S. Mint's American Eagle Gold Bullion Coins are the only gold coins that are guaranteed by the U.S. government in terms of purity, weight and content. They're available from precious metal or collectible coin dealers, certain banks and brokerage houses. If you're considering investing in coins produced anyplace by the U.S. Mint, read up on buying gold coins and investigate the seller and the coins carefully to help ensure that you're getting coins that match the value the seller is promising.    

Don't have a stomach for investing in the gold market?  You can still look for it the way they did 160 years ago at Sutter's Mill. Go west, young man or woman and start panning.

| View Comments [5] | envelope E-mail This Entry | Tags: gold   investments   nancy   stock  

 

Entry bubble Financing College

By: Sam | January 23, 2008 | Category: Home and Family

My sister is in her last semester of high school, and of course, everyone’s favorite question is “Where do you want to go to college?”  Right now, it’s between five schools-2 public and 3 private. Even though the jury is still out on what colors she’ll be wearing next fall, one thing is for certain-college costs are painfully high.  graduation cap with diploma and money

It’s been 10 years since I went to college, and during that time, the average cost of tuition and fees has risen by 57% at private four-year colleges and 69% at four-year public colleges  These figures from the College Board may have you feeling a little light-headed, but the costs can be managed thanks to the power of compounding interest.

Since every family’s situation is different, you’ll need to find a savings method that works for you.  In doing so, you’ll want to consider factors like your tax bracket, child’s age, how much financial aid you expect to receive, etc.  Then, you can use these helpful college financing calculators to figure out how much you’ll need to save. 

Once you’ve determined this figure, you need to decide on a savings vehicle.  In addition to mutual funds, brokerage accounts, and bank savings accounts, there are also some tax-advantaged alternatives available to help.  Here are some options:

And remember you don’t necessarily have to save for the entire four years.  Grants, loans, and scholarships can help make affording college a little easier.  Here are some resources to get you started:

 Students

Parents

 

| View Comments [2] | envelope E-mail This Entry | Tags: college   education   grants   loans   money   sam   scholarships   students   usa.gov  

 

Entry bubble When’s the Presidential Primary in Your State?

By: Joanne | January 22, 2008 | Category: General

Sign indicating that a voting polling place is a 100 feet away

It’s January 2008 and wake up people, because it’s Presidential primary time! Every time I check the news, it’s all about Presidential candidates, polls, caucuses and South Carolina, South Carolina, South Carolina.

So, do you know when your state’s Presidential primary is? I sure didn’t, so I looked it up. Whew…I’ve got some time to make up my mind. I’ve always been good about voting in general elections, but I need to do a better job of participating in the primaries too. After all, it’s my only chance to have an impact on who’s actually running for President. Are you a voter? I’m always shocked by how low voter turn-out is in our country. I like to do it—it makes me feel like I’ve been given license to complain. So mark your calendar! Get out and vote!

| View Comments [2] | envelope E-mail This Entry | Tags: caucus   democrat   election   joanne   polling   president   primary   republican   vote  

 

Entry bubble Remembering Martin Luther King Jr.

By: Jake | January 21, 2008 | Category: General

Today federal and state governments recognize Martin Luther King Jr. Day, so their offices will be closed (along with banks and some other private enterprises).

Martin Luther King Jr. Dr. King's birthday is on January 15th and after much debate nationally, President Ronald Reagan signed a law in 1983 designating the third Monday in January as the official federal holiday. This is consistent with Washington's Birthday, which is February 22nd, but has an official federal holiday on the third Monday of February because of the Uniform Monday Holiday Act.

In 1994, after Coretta Scott King testified before congress in support of making the King Holiday an official national day of humanitarian service, President Bill Clinton signed the Martin Luther King, Jr. Federal Holiday and Service Act. The Act expanded the mission of the holiday as a day of community service, interracial cooperation and youth anti-violence initiatives.

The Corporation for National and Community Service says participation in the King Day for Service is increasing every year. The MLKDay.gov website has ways for you to get involved with volunteer opportunities all over the country.

So if you have the day off, go and help live out Dr. King's dream.

| View Comments [2] | envelope E-mail This Entry | Tags: community   holidays   jake   jr.   king   luther   martin   service   volunteering  

 

Entry bubble Preparing for Baby on a Budget

By: Sommer | January 18, 2008 | Category: Home and Family

The two things people mention most when they notice I’m having a baby are 1) don’t expect to sleep much and 2) raising kids is expensive. The latest government data says that a family with an average annual income of $59,300 will spend $197,700 on that child between birth and age 17! Since we’re only in the preparation stage, I’ll cross that bridge when I get to it.

Lately though, we’ve been saving every penny so I can take some time off work after the birth. But, since there’s now a never ending listMan and woman shopping for baby cradles in a mall. of things to shop for it’s hard to save! Baby prep checklists include the crib and nursery furniture, car seat, stroller, highchair, clothes, toys and more. A friend said baby gear could cost up to $5,000! I feel like the billion-dollar-baby-products industry lurks around every corner waiting to reel me in.

Here’s what we’ve done so far to cut costs:

Who knows, maybe by cutting these costs we’ll save enough money to start a 529 plan for our son. Since we’re on a budget I’d rather he get a college education than that $800 stroller I love but he’ll never remember.

I’d love to hear any tips you have on how you saved money when preparing for your newborn! Please leave your suggestions in the comments.

| View Comments [3] | envelope E-mail This Entry | Tags: baby   budget   money   saving   shopping   sommer  

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