Government has loosened the rules making it possible for more people to convert their traditional IRAs and 401(k) funds into Roth IRAs.  This conversion essentially means you can pay taxes on the amount then convert it and not pay taxes on it again.
It seems to me that our sly politicians have found a way to boost the revenues for government in the short term.  Since the short term is all that matters when you’re a politician, why wouldn’t you want more Roth IRA conversions?  This doesn’t mean that it is …

It’s a pointless exercise to attempt to shine a positive light on somebody struggling big time due to unemployment or other economic realities.  For older individuals near retirement age, this great recession might be disastrous.  For us young people, I hope we can learn from this era and hopefully, it will impact us in a positive manner for the future.
Here are some potentail lessons or benefits for the younger readers who are going through what I call the Great Recession:
Lesson #1 – Back to reality with regards to consumption
Consumption levels …

If you’ve followed the jobs numbers by sector over the past year or so, you probably noticed that there are primarily three areas that have been adding jobs while the other areas shed jobs like crazy.  The areas adding jobs are government, health care, and education.  Maybe you can lump those three areas together, but for this article, we’ll leave them separate.
I once had an argument with somebody over whether or not this “growth” in these areas is a good thing.  The person I was arguing with was trying to …

November’s consequences: a paralyzed government (WND)
Obama to unveil additional homeowner aid (WSJ)
China has a plan, American doesn’t (Spiegel)
California’s shuttered stores tell the store (Sacbee)
SC Rep wants to ban Fed Reserve notes (SHTF)

Many people make decent money doing freelance writing.  Also, many people make decent money operating and writing for their own blog.  Which path should you take?  Let’s look at some pros and cons of each.
Freelance Writing

No need to maintain an actual website – can focus on actual writing
More money in the short run since new websites can be slow to gain traction
Not as much pressure to keep content going since you’re likely one of several writers

Starting Your Own Blog

More potential upside since you own the site – if your blog …

Today, I present an entry in the Financial Plan Writing Contest. Just a reminder that you can win $250 by participating.  Here are the brief guidelines, to read the full description of the contest, click the link above.

Answer the question: What is your financial plan for the next 10 years?
Be sure to to hit on things such as income, job security, budgeting, expense management, real estate, investing, retirement planning, etc. – the more detailed within specific areas the better!
Be sure to discuss how the economy might affect your plan – …

Obama to outspend FDR (CNSNews)
Japan is now top Treasuries holder (WSJ)
Someone at the Fed actually is worried about the dollar (Bloomberg)
Stiglitz wants another stimulus (Yahoo)
Credit card holders facing crippling rates (Telegraph)
Economic anarchy (SHTFPlan)
Rosenberg on a return to volatility in 2010 (Zero Hedge)
Four common investing mistakes (Money Under 30)

I believe there are too many storm clouds building on the global economic horizon to warrant any positive outlook for the global economy at least for the foreseeable future.  Let’s take a look at some of these potential storm clouds.
Iran
The escalating nuclear situation in Iran might have some devastating consequences for the global economy.  Any outbreak of war involving Israel, Iran, and/or the U.S. will definitely have a negative effect on the economy.  Oil prices would likely spike (along with other commodities potentially).  Unfortunately, the Iranian leadership seems bent on …