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Sound Money for November 8, 2003
 Mutual fund advice from an industry watchdog
If the SEC's findings are any indication, the few firms implicated in the mutual fund scandal may just be the beginning. According to the SEC, more than 25 percent of brokerage firms that sell mutual funds and 10 percent of the funds surveyed had permitted customers to engage in late trading that may have been improper. They also found over 30 percent of the brokerage firms say they disclose information about their portfolios to certain shareholders, giving them an advantage over other clients. So what does this mean for the individual investor? Mutual fund watchdog Roy Weitz says if you have a fund from a company that's under investigation, get out. (Nov. 8, 2003)
A financial planner on the mutual fund fiasco
Ross Levin, principal of Accredited Investors Inc, just returned from the Financial Planning Association's annual conference. He said the financial planners were abuzz with the news of the mutual fund scandal and the general consensus was that the current findings are just the tip of the iceberg and more wrongdoing will be discovered. Ross thinks in the end, these discoveries will be good for the individual investor.
(Nov. 8, 2003)
Digital camera and camcorder deals
Just in time for the holidays, Consumer Reports Magazine rates digital cameras and camcorders. The good news: higher quality and lower prices mean you can get a decent digital camera for under $300 and a digital camcorder with many features for around $500. (Nov. 8, 2003)
I-Bond rates plummet
The yield for one of Chris Farrell's favorite safe investments-the inflation protected I-bond- dipped from 4.66 percent to 2.19 percent last week. Does this mean the EE is a better investment? Daniel Pederson, who runs the bond evaluation service Savings Bond Informer, says he thinks the EE is a better long-term investment, even though it does not have the inflation protection guarantee of the I-bond. (Nov. 8, 2003)
Prenuptial agreements
Boy meets girl. They fall in love, sign a prenuptial agreement and get married. That prenup kind of takes all the romance out of the story, doesn't it? Well, attorney Arlene Dubin says that putting together a pre-nuptial agreement doesn't have to be an awkward, impersonal affair; and it's not just for Hollywood romances. (Nov. 8, 2003)
Opportunity Lost
Sound Money's in-house investment expert Erica Whittlinger says you should keep opportunity costs in mind when making investment decisions because there are always financial consequences when you make one choice over another. (Nov. 8, 2003)
Listener questions for November 8, 2003
This week, Chris Farrell answers questions about: how retirement savings impacts financial aid, if it's wise to put all your retirement money into your own business, investing in China, how quitting smoking helps your financial future, converting a 401(k) to a Roth IRA when temporarily in a low tax bracket, and restoring credit after bankruptcy. (Nov. 8, 2003)
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