Earlier this week, in an unprecedented example of Personal Financial Blogger cooperation, nearly 150 of us accepted Jeff Rose’ invitation to write about the Roth IRA and promote the cause on twitter with hash tag #RothIRAMovement. It was quite a success, and Jeff got some well deserved recognition, from Reuters Can Twitter make Roth IRAs trendy for young? The Huffington Post Roth IRA Movement Takes To Twitter, and The Wall Street Journal’s Happy Roth IRA Day! Wow, what great press, congrats, Jeff. My own effort went to the launch of RothMania, where I’ll focus on this particular flavor of retirement account.
At Enemy of Debt, Ashley guest posted, 10 Things on Which to Never Spend Money. With everyone trying to get us to part with our money, this is a great list of things to avoid. My favorite on the list? “Anything a telemarketer is selling.”
Financial Samurai asks What Would You Do If A Major Income Source Went To Zero? and explains the importance of income diversification. Not too many people have more than their day job as income, I imagine. It’s never too late to start thinking about this important topic.
At Out Of Your Rut, Kevin tries to understand how someone can be Struggling on a Six-Figure Income. The media has offered stories of those earning far more than this ($350K, anyone?) yet they manage to burn through every cent. Sympathy? Not too much from me.
Remember how Al Capone was finally caught by the law? Tax evasion! Even if you are in an illegal business, you are not exempt from paying taxes. So my frugal tweep, Sandy at Yes I am Cheap shared Nine Tax Deductions That Prostitutes Can Claim. I’m not judging, just passing along what appears to be good tax advice.
And to wrap up a great week, Why I Played the Lottery Even Though I Know It Is Such a Horrible Idea, from Kevin at No Debt Plan. By the way, the lottery was worth $640 million dollars, I played too. I didn’t win.