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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 byFamilyMoneyValues 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.
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!
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!
And, listed below are the rest of this week’s great article submissions.
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.”
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 http://nopsa.hiit.fi/pmg/viewer/images/photo_2857498721_0910907411_t.jpg
***Expensive wine bottle stats courtesy of http://www.huffingtonpost.com/2011/11/10/most-expensive-wine_n_1084988.html#s463410&title=1865_Chateau_Lafite