Nov 11
California has come up with another “creative” way to get some money from its residents. First, I had to figure out how to redeem my California IOU. Now starting back on November 1st, the state increased the income tax withholding on regular wages by 10%. There is no actual accompanying tax increase, they are just looking for an interest-free loan from now to when you file your income taxes.
According to the Franchise Tax Board, previously a single taxpayer making $51,000 a year and claiming one withholding allowance would have had $40.58 a week withheld from his or her paycheck. After Nov. 1, withholding increased to $44.64 a week, an increase of $4.06. Tak
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Nov 09
Stocks have been sailing swiftly this year, but many investors missed the boat by clinging to defensive positions set in the depths of the downturn. 
Are ETFs better than funds?
Rather than spending it regretting lost opportunity, though, now is the time to make sure your portfolio is ready for 2010. That will likely mean putting money in places that already have enjoyed tremendous returns. Sure, many experts caution that the global economy is anemic at best and that top-performing markets have come too far, too fast. Maybe these sprinters are due for a breather, but you can’t ignore them. Read more…
Nov 09
Every other Sunday, The Simple Dollar reviews a personal finance book.
Over the years, I’ve professed a ton of admiration for Thomas Stanley and William Danko’s excellent personal finance book The Millionaire Next Door. It was the first book I reviewed on The Simple Dollar and it’s still one I turn to regularly for ideas and inspiration.
One of the most interesting themes in The Millionaire Next Door is the idea that you really can’t judge a book by its cover when it comes to personal wealth. In fact
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Nov 09
Elisa Cundiff is the guest blogger today, she is the Outreach Coordinator at Thrive, a free online budgeting tool.
Every morning I review all my financial accounts on Thrive, but last Thursday, I noticed something strange: a “$3 non-Citi atm fee”. This was an additional $3 that my bank was penalizing me with for not using a Citi-bank machine. This means that I’m paying upwards of $6 every time I withdraw money from an ATM, because I live in a town where there are no Citi-bank ATMs.
I called Citibank and threatened to switch banks unless they dropped the fee in the future. The r
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Nov 09
The suspect in the shooting in Orlando last week that left one dead and six injured had a checkered financial past—including unemployment and a recent bankruptcy filing.
In 2007, suspect Jason Rodriguez was fired from engineering firm Reynolds, Smith & Hills, the location of the shooting, according to The New York Times. A
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Nov 09
I welcome Gillian Tett’s recognition that clearing is not the silver bullet–or the “magic wand”–that will make financial crises a thing of the past. This bit is particularly spot on:
What is notable about the reform debate this year, is that there has been remarkably little public discussion among politicians – or among regulators – about how to guarantee that any future clearing house will be strong enough to withstand future shocks.
In part, that silence may reflect a lack of imagination. Politicia
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