My Money MD
- Financial decisions made with input from both men and women have better outcomes, so you can use your marriage to your advantage.
- Studies show that there is a difference between "normal" people and those who seem to lack morals and empathy.
- White collar crimes are difficult to fight because the defendants are usually powerful people. Look what happened to one successful and infamous crusader against white collar crime.
- 401K expenses are making headlines again now that a lawsuit filed in 2006 by ABB employees in Kansas City, Mo. regarding losses in their 401K plans is now in trial. If successful, the U.S. Department of Labor, which has recently approved new rules for fee disclosure, may go even further in insisting greater transparency for the 401K process.
- When the stock market is falling and moral fiber seems to be near rock bottom (see Arnold Schwarzenegger and Dominique Kahn-Strauss), it is pleasant to transfer one’s thoughts to a subject that is uplifting. This is indeed the case with the current exhibit, "Collecting Matisse and Modern Masters: The Cone Sisters of Baltimore," at the Jewish Museum in New York City.
- Some economists say the housing market isn’t just diving off a 10-ft. board into a swimming pool, it may be about to plunge off a 100-ft. cliff into the ocean. Another wave of foreclosures looms, which could further drag down home values. So should you sell now, or wait to buy? Hold on.
- On the face of it, selling some stocks with big gains now seems reasonable. The stock market is toppy. Housing, on the other hand, just seems to be going lower. For some, this begs the question: Should I sell some stock, buy a depreciated house and rent it out? Here's a great calculator that does the math for you.
- Estate planning can be tricky in this volatile political and economic environment, but one thing is almost certain: In December 2012, the current $5 million federal gift-tax exemption for individuals will likely be reduced to $1 million or even less. Failing to take advantage of this short-lived tax break could impact your relatives substantially.
- Reviewing a book that is not-so-hot off the press can be beneficial. This is the case with "This Time is Different: Eight Centuries of Financial Folly," by Carmen M. Reinhart and Kenneth S. Rogoff. However, I must tell you that navigating the book is similar to the underwater snorkeling trail at Truck Bay in St. John, the Virgin Islands.
- Testosterone levels have been directly associated with risk-taking behavior in multiple studies. For example, when trial lawyers who take courtroom risks are compared to non-trial lawyers, they have higher testosterone levels. Now, a new study shows we have to rethink our concept about testosterone and risk taking when it comes to making economic decisions.
Dr. Shirley Mueller is a physician turned financial consultant and investment educator. Her fee is hourly, not a percentage of assets. She welcomes comments at ShirleyMMueller@MyMoneyMD.com. For more information, visit her website at MyMoneyMD.com.
Shirley Mueller, MD is a physician turned financial consultant and investment educator who specializes in guiding clients, both one-on-one and in groups, about how to effectively self-invest using a simple and effective three-step approach