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Month: August 2007

Why thinking you are smart enough to know where the market is going is so dangerous.

Why thinking you are smart enough to know where the market is going is so dangerous.

I wrote an article last week that talked about some of what I perceived as over-reaction and irrational thinking by some of the best minds in the personal finance world. Now granted some of the situations I pointed out weren’t exactly off your rocker moments, but I still think at some level they fell into the trap of reacting to the markets recent performance when when things started heading south (read the comments and this post to get Dave’s full story). Again I think these guys are financial wizards and a great place for sound financial advice, but just wanted to point out that we are all susceptible to thinking we can time the market or know where it is headed and can make more money by selling or deferring buying when the market is in a little slump. So I’m going to hopefully point out a few things here that show you why if you want the best possible returns you won’t be selling just because the market looks bleak at the current moment.

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The market is going down and some personal finance bloggers have lost their minds

The market is going down and some personal finance bloggers have lost their minds

I’m sorry I have not been posting as often as I used to but with the new baby, new promotion, and weddings I’ve just not had the time to sit down and write every day. Anyway I’ve been keeping my pulse on most of the personal finance community and one thing that really surprised me is how some of the personal finance bloggers I admire most are reacting to the latest market movements and advocating or adjusting their investing strategies because of short term market fluctuations and the worst part is they are reacting in my opinion counter intuitively.

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July 2007 – Retirement Nestegg Report

July 2007 – Retirement Nestegg Report

Well a couple of changes with my accounts this month. You’ll notice that my previous employer Traditional and Roth 401ks are no longer in the detail and that there is a new Traditional IRA Rollover account. I rolled over the money from my previous employer this month. The traditional part is in the Traditional IRA Rollover account and the Roth part I just put in my normal Roth IRA account. My previous employer actually had excellent investment options – some actually better than I can get on my own, but I rolled it over just because even though the expense ratios were top notch I just wasn’t sure what other fees were being assessed or what new fees might show up in the future. Guess I am a control freak when it comes to my financials so I rolled it over.

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