Archive - August 25, 2011

1
How to Talk With Your Spouse About Money
2
Should I Invest in Gold?
3
How to Undo Your Roth IRA Conversion in 2011
4
Your Homeowners Insurance Does NOT Cover an Earthquake

How to Talk With Your Spouse About Money

How couples communicate about money can be just as important as the message they’re trying to get across, says Scott M. Spann, CFP®, EA. “Always be aware of how you are actually communicating with a spouse or loved one about money matters,” Spann says. “Never forget that how you say things is just as important as what you actually say.”

He offers these tips for communicating with your spouse about money:

  1. Set a date.
  2. Establish open lines of communication.
  3. Talk about your life experience with money.
  4. Give and Take. If you’re going to ask your spouse to sacrifice something
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Should I Invest in Gold?

Gold is useless

This week GLD, a gold ETF, surpassed SPY, an ETF tracking the S&P 500, to become the largest Exchange Traded Fund. Gold prices also set a new all-time high. This should ring the bubble klaxon!

Gold is a useless asset. It does not produce earnings, it does not pay dividends or interest, and it has few industrial uses. The only thing it does well is look pretty.

So why is everybody buying it instead of stocks, bonds, rental properties, or anything else that does produce an income stream? There are two possible answers: Gold is undervalued even …

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How to Undo Your Roth IRA Conversion in 2011

For those of you who took advantage of the one-time opportunity in 2010 to convert IRA funds to Roth IRA accounts, spreading the tax over the following two years (2011 and 2012), you are faced with a decision-point:  if you have reason to recharacterize the conversion, you have to do this by October 18, 2011.

Why recharacterize?

Here’s a ferinstance: If you converted $10,000 from your IRA account on December 31, 2010 into your Roth IRA and invested it in the S&P 500, that $10,000 converted is now worth approximately $8,997 (using a recent price).

If you are in the …

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Your Homeowners Insurance Does NOT Cover an Earthquake

This week's earthquake centered near Mineral, Virginia caught New Englanders by surprise as its shock wave rumbled through the area. Although we tend to think of earthquakes as a west coast phenomenon, today’s tremor reminded easterners that we get them sometimes too. How much does a standard homeowner’s policy cover in the event of an earthquake?

Earthquake Coverage

This is a very easy question – nothing. Homeowner’s insurance policies specifically exclude any coverage for claims due to damage caused by movement of the earth, period.

Ah, you say, but we don’t get big earthquakes in the east. Historically, that is …

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