Carnival of Personal Finance #359 – Most Expensive Bottles of Wine – April 30th, 2012 Edition

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Welcome to this week’s Carnival of Personal Finance, a weekly listing of the top personal finance articles around the blogosphere in the following categories – taxes, money management, investing, career, debt, frugality, credit, economy, finance, real estate, saving, and budgeting.

The theme for this week’s carnival is a listing of 5 of the most expensive bottles of wine ever sold in the world! 
I hope you enjoy the posts and that you can stop by My Personal Finance Journey on my non-carnival days as well! 

Listed below are this week’s top 5 editor’s picks. Congrats to the five winners! Some truly great articles here!

1. Our #1 pick of this week is by Darrow Kirkpatrick from Can I Retire Yet?, who presents Is the 4% Safe Withdrawal Rate Obsolete?, and says, “The era of the simple 4% Safe Withdrawal Rule in retirement may be drawing to a close. We are now hearing from some respected voices that it is rigid and simplistic — relying too much on historical data, and not enough on current financial conditions. Most alarmingly, we are being told that it might be too generous for these extreme economic times, that the actual safe withdrawal rate for today’s retirees could be less than half of the traditional 4% rate.”  

Jacob’s Comments – In this article, Darrow expands on the ongoing analysis by others such as Rob Bennett, Todd Tressider, Robert Shiller, and Wade Pfau concerning whether and/or how long term market price valuations should be taken in to consideration to make investing decisions. In this case, Darrow examines whether or not a 4% withdrawal rate during retirement is applicable in today’s environment. This is truly a very important topic for everyone, and this article definitely warrants a thorough read!

2. The #2 pick of this week is by 
Sean from One Smart Dollar, who presents What is the Best Day to Buy Specific Items, and says, “Did you know that you can save money just be purchasing items on a specific day of the week? ”  

Jacob’s Comments – This article examines the very interesting subject of price variations involved in purchases in the following categories across various days of the week: gas, hotel rooms, airfare, cars, clothing, and eating out. To me, the most surprising find was that Wednesday morning is the cheapest time to buy airline tickets.

3. Our #3 pick for this week’s Carnival is by FamilyMoneyValues from Family Money Values, who presents Parents As Resources for Adult Children, and says, “Now that I am the parent of adult children, I am beginning to understand at least some of the reasons Mom and Dad offered what they did. Here are four things I wish I hadn’t been so stubborn about.”  

Jacob’s Comments – There are so many ways that parents can give their children a head start financially. However, the children have to be ready to accept that help. This article highlights several very interesting first hand experiences regarding this issue. 

4. Our #4 pick for this week’s Carnival is by Barbara Friedberg from Barbara Friedberg Personal Finance, who presents Why I Don’t Invest in Individual Stocks Anymore, and says, “As anyone in the investing field understands, no matter how many winners one holds in a portfolio, there are bound to be a few losers. Learn about my personal investing voyage.” 

Jacob’s Comments –  When I first started out investing, I too bought and sold individual stocks. I had some winners, but overall, did not make any money above the market return. After reading about investing more, I now follow a passive investing approach using index mutual funds and ETFs. Barb’s journey in this article is somewhat similar to mine, and was quite interested to read! 

5. Our #5 pick for this week’s Carnival is by Peter from Bible Money Matters, who presents Paying Down Debt with Gazelle Intensity? How Much of an Emergency Fund Do You Need?, and says, “I am a big fan of Dave Ramsey, and as we pay down our debt, we follow a hybrid approach to his debt snowball method. Followers of Dave Ramsey know that another part of his debt reduction plan is to first save $1,000 in an emergency fund before beginning aggressive debt reduction. Yet is this good advice for everyone? Should some families have a larger emergency fund? What is the right amount for your family to set aside in an emergency fund?” 

Jacob’s Comments –  Dave Ramsey is a significant force in the personal finance community. I like his advice because it provides a simple guide and empowers people to take action quickly to get rid of debt. This article analyzes how much emergency fund a person needs. Personally, I think that most people need a larger emergency fund than the $1000 recommended by Dave, but $1000 is a good starting place for sure! 


1865 Chateau Lafite: $27,000
This cheap ($27,000 per 750 mL) wine is an amazing ~150 years old! I can’t even begin to imagine what tasting a wine from the 1800’s would taste like! haha

And, listed below are the rest of this week’s great article submissions.

Squeezer from Personal Finance Success presents Why investing in dividend paying stocks is a smart move., and says, “There are several different ways you can grow your passive income. One method includes investing in dividend paying stocks. Dividends are when a company shares its profit with the shareholders.”
Adam from Magical Penny presents The Reality of Self Employment, and says, “Strangely enough, I had not intended to become an entrepreneur. But here’s how I did it…”
Cl from TotallyMoney presents What will a double-dip recession mean for you?, and says, “What the British double dip recession means for you.”
Martin from Studenomics presents How to Switch Bank Accounts, and says, “How you can switch bank accounts in a few minutes.”

Mike from Experiglot presents Do You Need to be An Accountant to Understand Personal Finance?, and says, “We explain why finance isn’t just for accountants.”

Mike from Do Not Wait presents Saving For Retirement With Your First Apprenticeship, and says, “Why you should start saving money right off the bat.”

Mike from The Financial Blogger presents April Net Worth Report +012% – Never Spend Money You Haven’t Earned Yet, and says, “A look at where my money has gone.”

Green Panda from Green Panda Treehouse presents 3 Reasons Why You Need a Credit Card Right Now!, and says, “The case for signing up for a credit card.”

Div Guy from The Dividend Guy Blog presents Can Dividends Save The Economy?, and says, “Are you investing in dividends?”


1775 Massandra: $43,500
If you’re like any other normal person, you’ve probably always wondered what wine tasted like that was made from grapes the year that the US Declaration of Independence was signed. And, for a cool $43,500, you can have that privilege! 
Rob from Dough Roller presents What’s New for IRA Retirement Accounts, and says, “Here are the updates for 2012.”

J.P. from Novel Investor presents Shorting A Stock: Profiting On The Way Down, and says, “Everyone and their brother wants the market to go up, not the short seller. Shorting a stock is not the popular choice, but there are profits in going against the crowd.”

Jeff Rose from Good Financial Cents presents Best Jobs for Retirees After Retiring, and says, “For those who made it to the age of retirement and have no real desire to actually quit being involved, there are a multitude of job options available to keep going strong in your later years.”

Glen Craig from Free From Broke presents Think Twice Before Borrowing from Your 401k, and says, “Some people talk about a 401(k) loan like it’s an easy option. But, there is a lot of risk, and borrowing from your 401k is something you need to carefully consider.

Michelle from See Debt Run presents I Ain’t Sayin’ She’s a Gold Digger, and says, “I discover an entry in my kid’s notebook where he writes “My Mom Loves Money!” While true, I wonder what prompted him to write it, and ponder what it really means to be rich.”

Ryan Yates from Deliver Away Debt presents Budgets Are For Poor People – Right?, and says, “Budgets aren’t just for people who might have trouble earning money, they’re for anyone who has ever been involved in spending money. But they won’t do you any good if you don’t respect their necessity. No matter what your income level, if you aren’t serious about gaining control of your finances, having a budget will be of little help.”

Boomer from Boomer & Echo presents Preparing For Retirement: Some Things To Consider When You’re Turning 50, and says, “There are plenty of reasons why people put off planning for their retirement. The future has a way of arriving faster than we ever thought. No matter how well you are doing today, making sure you have the financial resources you will need for a secure future takes careful planning.”

Philip from PT Money Personal Finance presents 6 Common Credit Report Errors, and says, “Discusses PT’s personal experience with credit reports as well as other errors that commonly occur in them.”

Nicole from Nicole and Maggie: Grumpy Rumblings of the Untenured presents Freelancing: Thoughts on Scalzi’s you’re not fooling anyone, and says, “Nicole and Maggie discuss freelancing as a second job and why they have decided pursuing secondary employment is not really worth their time.”


1947 Château Cheval Blanc: $304,375
This wine, obtained for the astronomical price of $300,000 per bottle, is considered to be the greatest Bordeaux wine of all time! Well worth the price! 🙂

Justin from The Family Finances presents The Mini-Max Rule, and says, “The “mini-max” rule is pretty basic yet explains the reasoning behind almost all our decisions. We tend to make decisions we think will minimize our cost and maximize our benefit”

Everything Finance from Everything Finance Blog presents Stay at Home Parents. . .Denied!, and says, “I recently read a US News Article about how the stay at home parent must ask the breadwinner for permission before opening a charge account. What??? Yes, even in the year 2012 this is true. The article sheds light on the Federal Reserve’s decision: No paycheck, no credit card.”

Robert from The College Investor presents Invest Simply! Unless You Are Getting a Degree in Stock Picking, and says, “Everyone could be lucky once and pick a good stock. But to do this systematically requires more than luck. I think that picking more often than not the right stocks, is very hard work, very competitive and without exceptional talents, impossible. I’m not one of the lucky ones. Here is what I do instead.”

Andy from Saving to Invest presents Buying a Used Car: Unnecessary Hassle or Financially-Savvy?, and says, “But is buying a used car instead a hassle or a panacea? Like anything financial, it depends….”

Teacher Man from My University Money presents How To Use Your Liberal Arts Degree To Get a Government Job, and says, “I have been someone negative about the job prospects out there for people like me with a liberal arts degree before. While it is still not what I recommend for most people coming out of high school, it can be a valuable tool in your career tool belt if leveraged correctly.”
FMF from Free Money presents The Two Ways To Track Financial Success, and says, “How do you know if you’re reaching your financial goals or if you’re making financial progress? And what can you do to get to where you want to be at a faster rate? These questions get to the heart of one simple matter: you need to keep track of your finances by calculating two simple measures on a regular basis.”

Miss T. from Prairie Eco Thrifter presents How to Choose an Ethical/Green Financial Planner, and says, “If you feel that you need some guidance in choosing the right ethical financial products, a financial planner can help you to select ethical funds that match your criteria and manage them for you. As far as ethical products are concerned though, not all financial planners are equal. Many financial planners are marketing themselves as having ‘green’ credentials but this does not automatically mean that they have enough knowledge of ethical finance to provide the guidance that you are looking for so don’t just take their word for it – go ahead and delve a bit deeper to see how much expertise they actually have.”


1907 Heidsieck: $275,000
This wine was scheduled to be delivered to the Russian Imperial Family in the early 1900’s, but was sadly lost in a shipwreck. Fortunately, it was discovered by a diver, causing the price to be jacked up considerably! Finder’s keepers! haha

PK from Don’t Quit Your Day Job… presents Predicting S&P 500 Closing Prices – April 2012 Edition, and says, “If you don’t trade options, are they still useful? Well, anything which gives constant quotes is useful as an indicator. Here’s an example of using options pricing to predict the movements of the S&P 500 over the next 8 months!”

Betty @ Control Your Cash from Control Your Cash presents Nothing is your fault or, student loans are killing our economy part CXXV, and says, “Everyone’s pissing away their money on a useless college degree. Even the President.”

Grand Per Month from Grand Per Month presents Does Your Side Business Need Insurance?, and says, “We have been looking at various ways to make extra money, some of which could develop into full-time businesses such as cutting grass or cleaning houses. Both of these services could lead to enough business such that you would have to hire employees. You are also working at various locations and on the property of many clients. One way to protect yourself and your personal assets is to form a limited liability corporation, but the other is to make sure that you have the proper insurance coverage.”

Kacie from Sense To Save presents Our plan for maxing out our IRAs this year, and says, “It’s going to take a lot for us to contribute $10k to our IRAs this year. We’re automatically contributing some, and we have a plan for making up the rest.”

Clint from Accumulating Money presents 5 Worst Pieces of Advice for Raising Your Credit Score, and says, “For those who are currently striving to raise their credit score, it is important to get good advice. Moving forward with certain activities – even though they may appear to make sense – could end up backfiring in the long run and cause your overall score to drop.”

Earth and Money from Earth and Money presents Planning a Green Frugal Wedding – Food, and says, “Being either frugal or environmentally responsible when it comes to weddings often requires you to challenge the status quo or the established wedding traditions, and food is no exception when it comes to this.”

Christopher from This That and The MBA presents Would you work for free?, and says, “Today more than ever we rely on volunteers to fill a void that we just cannot afford to pay a person to do. I have been a volunteer for many years and the past few weeks we have had Earth Day and National Volunteer week. I think it is appropriate to recognize all the work that they do.”
Mr. Money from Smart on Money presents Are You Letting Your Kids Ruin Your Retirement, and says, “In many cases, helping your kids out occasionally with their finances won’t bankrupt you, or even put your retirement at risk. Unfortunately, though, a pattern of poor financial decisions from your children can result in a situation that eventually puts your finances at risk. Even some items of financial responsibility, such as paying for college, can leave your retirement plans in ruins.”

eemusings from Musings of an Abstract Aucklander presents How to reclaim your work mojo, and says, “Stuck in a work rut? Here’s how to find your groove again…”


1787 Chateau Lafite: $160,000
This bottle of Lafite was part of Thomas Jefferson’s wine collection. Unfortunately, the wine is no longer drinkable, but since it bears the President’s initials, the price is still rather palatable! 

Ray from Squirrelers presents Email and Job Searching, and says, “Communication is vital to success on the job. Thus, shouldn’t it be important to communicate well when trying to find a job? Given that email is often a step in the hiring process, it is important to avoid mistakes. This post discusses how email can play a role in your job searching success and ultimately income generation.”

Jason from One Money Design presents Study Shows Following Your Passion Leads to Greater Success, and says, “If you follow your passion the money is likely to follow. A recent study proved this to be the case.

Well, that concludes this week’s edition of the Carnival of Personal Finance! To all of this week’s participants – it was an honor to be able to read and get involved with such high quality articles! Please remember to link back to this post if your article was included here and to promote via social media when possible.

Next week’s carnival (#360) will be hosted by Money Talks Coaching, and is scheduled to take place on May 7th, 2012. Be sure to submit your articles for next week’s edition, using the following handy submission form.

Also, if you’re interested in hosting a future edition of the Carnival of Personal Finance, you can apply using this form.  

    ***Photo courtesy of
    ***Expensive wine bottle stats courtesy of


    1. freefrombroke says:

      Wait, are you saying these wines are better than Trader Joe's 2-buck chuck?!? No way!

      Thanks for hosting!

    2. Thanks for hosting and for making my article #2
      My recent post 5 Things You Should NOT to Do With Your Tax Refund

    3. I've never understood why someone would ever pay such crazy amounts of money for a bottle of wine. Go figure. But I guess I've never been much of a wine drinker. Then again, I doubt most wine aficionados could tell the difference between a high class bottle of wine and a $10 bottle either. It's all about appearing to be cultured and high brow!
      My recent post A Child’s Religious Celebration: A Chance to Show Off?

      • I'm with you Peter. Many times, when I drink a $20 bottle of wine, I think to myself that some $3 bottles are in some ways better!
        My recent post Saving Money on Your Health Insurance

    4. Thanks for hosting and including my article! Those wine prices are crazy! I bought a bottle in Spain for 1 euro when I was there and it tasted lovely!
      My recent post Do I Look Like a Bathroom to You?

    5. Thank you so much for the honor of being an editor's pick. Great carnival.

    6. Thanks for hosting and great theme!
      My recent post Ask The Reader: What is Your Favorite Purchase?

    7. Ugh. I despise wine so no comment there!

      Great job hosting!
      My recent post How to stay sane and maintain a semblance of life order

    8. Thanks for including us in your carnival!

    9. Nunzio Bruno says:

      This was a great carnival. I try to always spend some time sharing the Yakezie love through these carnivals but I have to say that I meandered a little longer than usual.
      My recent post Are you a Captain America Type?

    10. Belinda says:

      Ugh- why so expensive? For wine lovers, don’t mind me. I just can’t think of a just reason for these wines to be so expensive. And for the record- I’m not a wine drinker, 🙂

      The article that caught my attention is on Family Money Values. Being a young parent, discussing about family finances and strategies on debt payment is truly a great source of wisdom.

    11. This is a great collection of articles – nice job!

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