Before you put your home up for sale, you need to make it appear as desirable as possible without spending a large amount of money. "Curb appeal" is what you are going for, which means you want to make a good first impression as soon as a potential buyer pulls up to the house. This is achieved by simple touches like a neatly trimmed lawn or a nice garden.

A little splash of color in a flowerbed does wonders for a home's curb appeal, as does an empty driveway. In other words, if you normally park your car in the driveway, you may want to clear some space in the garage for its intended purpose.

Buyers won't base their decision solely on the front of your home, so you need to make similar improvements inside. Although some passers-by might be inclined to keep driving if the lawn is a wreck, the inside of the house is where they'll spend most of their time, so that is obviously important. Presenting potential buyers with a clean home seems like a no-brainer, but some FSBO sellers underestimate this marketing tactic. On the other end of the spectrum, there are sellers that go overboard with cleaning. They end up making the house look sterile and empty, like a model home. Always keep the personal things out, such as family photographs, when showing a house. It will make it easier for buyers to picture themselves living there.

If there are any major problems with your home, such as a crack in the foundation, don't think you can sell your home without the buyer noticing. You need to either have it repaired or disclose the problem to the buyer and reduce your asking price. If your house has minor problems, such as an unfinished bathroom or a leaky kitchen faucet, now is the time to take care of those loose ends. Surprisingly, a well-kept bathroom sways more buyers than a large master bedroom. Clutter should be cleared out of your home, as well, so you should consider a yard sale or a storage unit rental. As a finishing touch, a fresh coat of paint on focal walls will really impress.

Prepare For Your Next Home

If you are planning on selling the home you currently reside in, you need to make arrangements for your next home before you sell this one. Always get a future mortgage loan pre-approved before you put your home on the market. After all, your house could sell immediately, leaving you a bit rushed to finalize your next purchase. With a pre-approved mortgage, you will be able to time the transition better.

In addition to preparing for your next mortgage agreement, you may want to start looking at potential homes before marketing your current one. Even if your house takes months to sell, you need to have an idea of what you want. Consider what you like or don't like about your current house and neighborhood. Based on that criteria, house-hunting will become a little easier.

Determine Your Asking Price

Before you decide how much you want for your house, you should know how much you need. If you are still making payments on your home, then you need to ask your lender what your payoff price is. Selling your home for anything less will leave you in debt, as you will be homeless with a mortgage payment — not a good position to be in. Depending on the agreement you signed and the amount of time you've lived in your current home, there may be a penalty fee for selling your home and paying off your mortgage early.

In addition to your payoff price, you need to consider closing and marketing costs. Since you won't be dealing with a real estate agent, you won't need to consider his/her commission. However, without the knowledge of a real estate agent, making estimates on your closing costs can be difficult. You may need to do a little research on current market trends and/or talk to your mortgage lender, who may know more about it. As for marketing cost, this won't be substantial. A "For Sale" sign and an online posting is hardly expensive, but we will discuss that with more detail below.

After you have estimated what it will cost to sell your home and pay off your mortgage, you need to determine how much of a profit you want to gain. Obviously, you want the most possible, but you want to stay within a reasonable realm. Otherwise, your house won't sell. Generally, a house will sell above its tax appraisal value, so make sure you know what your tax appraisal states. If you merely want to make enough to pay off your current mortgage and put a down payment on your next home, then that figure should be easy enough to compute. Remember, the more competitive your asking price, the faster it will sell. If you think your asking price is too high or too low, see what other homes in your neighborhood are going for and that will help you gauge your price.

Market Your Home

Since you have now given your home the curb appeal it needs to win over buyers and you have an asking price, it is time to put your house on the market. Studies show that the most effective form of advertisement you can use costs under $10 - it is a "For Sale" sign on the front lawn. Surprisingly, there are buyers driving around neighborhoods regularly, looking for such signs. Also, any investors that randomly drive by and see the sign will be interested, particularly if the house has curb appeal. As we stated before, buyers know that FSBO houses are priced more reasonably than houses represented by agents.

In addition to your magic sign, you may want to advertise via the local newspaper. While this will garner a lot of attention and is fairly inexpensive, the Internet is even more effective and can be utilized for no charge. Craigslist.com, a large online classifieds ad, is free and extremely popular. It will reach a broader audience than a newspaper and you will also be able to upload photographs of your home (something you can't do in the newspaper). There are other real estate listings online, some that focus specifically on FSBO homes, but many of them ask for outrageous and unnecessary fees. At the most, all you will need is a yard sign, a Craigslist ad and, if you really want to cover all bases, an ad in the local paper.

Show Your Home

Here is the best advice for showing your home that you will ever receive: make your house available as much as possible. If people have to work around your busy schedule, they may grow impatient and give up on looking at the house. If you have another responsible adult in the house, make sure that either you or he/she can be at the house at any given (albeit reasonable) time. Doing so will garner more offers and sell your home quicker.

Another thing to consider when showing your house is how much you tell them upon their first visit. They don't need to know the history of every corner, rather just where the guest bathroom is, master bedroom is, etc. Let them walk around and get their own impression of the place - too much yapping at first may turn off a buyer. While they may have questions for you, you shouldn't dominate the conversation. Also, if you have rowdy children or animals, keep them out of the way. Consider them, although you love them considerably, part of the "clutter" we told you to clear out.

Negotiation and Closing

If you have an interested buyer, he/she will most likely want to visit your house a few more times before an official bid is made. Also, be prepared for the buyer to hire a home inspector, which is well within his/her right. As for negotiating the asking price, you are a free agent and where you go with it is up to you. If you are absolutely resolved not to budge on your price, there may not be any negotiating room, which is why you may want to set the price just higher than what you really desire. However, if you have set a very reasonable asking price, which is typical of a FSBO home, then the buyer may agree outright and not haggle a bit.

Upon agreement of an asking price, your buyer will contact a mortgage lender and sign an commitment. If he/she has already been pre-approved, this process will go much quicker. Typically, a representative of the mortgage company will also inspect your home to make sure it is worth the asking price. After those details are finalized, a closing date will be set for approximately 30 to 45 days later. In the meantime, you need to contact your mortgage lender, tell them you are going to pay off your home loan and give them the closing date. Also, you will need to move your belongings out of the home.

On closing day, you will meet with the buyer and, depending on what state you live in, an attorney or title company representative. All paperwork will then be signed and witnessed, including the title deed. Also, all closing costs must be paid and you will give the buyer the keys to your home. Approximately one to two days after closing, you will be paid in full for your home, leaving you free to pay off your mortgage loan.

Well, now that we've painted a depressing picture of your life, here's the good news: you can earn more money by working less. No, this isn't about to turn into a sales pitch for a self-help book - we are talking about establishing multiple passive and/or portfolio income streams. Confused already? Don't be, as you won't need a business degree to achieve financial freedom. Also, know that this isn't a pipe dream. Millions of people are enjoying life, real life, every day while making money. Here are 25 ways you can do it, too.

The easiest way to earn more and work less is to establish multiple income streams. From large ventures like franchising a business to small ventures like renting out vending machines, your risk is lowered if you have several business opportunities going at once. While some of the above ideas require hard work in the beginning, the end result is residual income. Yes, you could work a 9-to-5 until you retire and then cash out a huge 401K, but why? With a little creativity and a lot of determination, you can live life to the fullest now.

Art investment is a viable way to earn money and, in many ways, it is less risky than paper assets. Although there must always be demand for your supply in order to turn a profit, the fickle stock market has little to no affect on your art investment. Rather, you must simply choose a piece of art that will increase in value over time. Yes, it sounds simple enough, but there is a bit more to it. Below, we will share with you a beginner's guide to investing in art.

Before you start spending money, you need to know what you are spending it on. While you don't need a degree in art to appreciate or invest in it, you should be familiar with the fundamentals. Reading a book on art history will better prepare you for dealing with the art world. Research various mediums of art, too. When most people think of buying art, they envision a painting to be hung on the wall. Paintings make great investments, but so do photographs, lithographs, sculptures, pottery, wood carvings, etc.

Another way to learn about art is to see it firsthand. Visit local museums and galleries, familiarize yourself with common art terms. The Internet can be another great source of information, particularly message boards for art collectors. While you are researching art, you will start to get an idea of what you like and don't like, which is quite important. After all, you probably won't be purchasing a piece of art only to turn around and sell it the next day; you will need to live with it.

Choosing Artwork to Buy

Here is an essential rule to abide by: always choose a piece of art that you appreciate. After all, you are dealing with aesthetics here, not a stock or bond. If your gut tells you that a particular work of art is worth investing in, then chances are that other buyers will, too. Also, you must prepare yourself for the fact that your art may take a long time to mature in value. In a worst case scenario, your art never increases in value at all... but you are still left with something decorative that you admire.

Always remember that you are not only investing in a particular piece of art, but in the artist who created it. If you are a first-time buyer without millions in the bank, then you really need to dash any thoughts of purchasing a well-known Picasso. Studies show that even if you did, you may not make a very huge return. Many classic pieces of art are being purchased for huge sums of money, in the hundreds of millions at times. Finding someone who will pay more down the road won't be easy for such investors. Instead, you should search for the next Picasso before he or she becomes famous.

Finding an up-and-coming artist involves research and some legwork. As a new art investor, you should start reading magazines and newspapers for tips on upcoming shows and young artists. If an artist is already overexposed, you may be too late. However, if you find a young talent that is just recently producing some buzz, then you may be onto something.

Avoiding Scams

Although this may all sound like the plot of a 1960's caper flick, art fraud is very real and increasingly common. There are many scams that unsuspecting buyers fall for. Prints, for example, can be forged quite easily with the help of modern technology. Many prints that claim to be "limited edition" are floating around on eBay, with the sellers even going so far as to type up a bogus "Certificate of Authenticity". We implore you, don't buy expensive pieces of art on eBay.

While eBay is rife with fraudulent art dealers, live auctions usually pose less risk. However, scams can occur in these settings, too. Some auction houses have been caught using "plants" in the bidding audience to help drive up the cost of an item. This is illegal and most common at less reputable auctions. The problem is, most of us can't afford to frequent Sotheby's. However, if the auction you are attending has full license to sell the items in question and have a good reputation, you will be in good hands.

One of the easiest ways to avoid fraud is to buy straight from the artist at his or her gallery showing. If that isn't possible, then minimize your risk by purchasing your art on the cheap. Don't go maxing out your credit card on your first buy; that could be disastrous. Like we said, find those artists while they are young and before they get famous. That's how the average Joe really makes money with art trading.

Preserving and Caring For Your Art

Buying reasonably priced artwork that later becomes highly sought is your goal. However, the worth of your art is not only dependent upon the art market, but on the condition of the piece when it is being sold. You need to preserve and maintain your artwork, be it a print, painting or sculpture. Each medium requires a different kind of maintenance and it is up to you to learn how to keep your art in mint condition. A damaged or aged piece may lose much or all of its value. This is where some more research comes in on your part. Learn where your particular kind of artwork should be stored, how to keep it looking new, etc. Prepare yourself for the fact that it may take more effort from you than the occasional dusting.

How to Sell Art

Like most investments, the value of your art will fluctuate. If you are considering selling your piece soon, have it appraised by a respected and qualified professional. On that note, never sell anything to the person who is appraising it. You can never be too careful, as even the most reputable appraiser could underbid you if you seem eager to sell. Instead, tell them you are merely curious for insurance purposes. That should yield you the most honest dollar figure.

Once you have an idea of what your art is worth, you can establish a minimum asking price. Whether you are selling your artwork in an auction or directly to a private collector, you need to have a minimum figure in your head. Auctions are best, although the auction house will retain a commission for selling your piece, so consider that when you set your price. However, an auction could result in more money for you, depending on who is attending and what the demand for this type of piece is at the moment. Remember, always sell to or through a reputable source. As you establish contacts through your art collecting, so will you get a good idea where your art should be sold.

Art collecting can be a profitable venture and a great way to diversify your investments. However, you should be mindful of the fluctuating art market, as well as the importance of preserving a piece in its original state. Scams are easily preventable with a little research and some common sense. With careful consideration, rational spending and a true appreciation for your collected works, then there is no reason why you would be disappointed with your art investment.

1. Manage Your Estate

   Let us start with the morbid end of business so we can quickly move past it. Your life is far from over and you may feel like a million bucks, but all adults should have a living will and testament. Furthermore, you should be covered for life insurance, as a premature death could leave some of your loved ones in dire straits. If you happen to be the sole survivor of your family, then you may not need life insurance; rather, you may have unorthodox plans for your estate. In any case, your last wishes should be legally documented while you are of sound mind and body. Once that is out of the way, then just relax and forget all of this nasty business about dying. After all, life begins at 50.
   



2. Meet With a Financial Planner

   Ideally, you should have met with a financial planner long ago to discuss asset allocation strategies. Beginning a long-term plan in your twenties would have really helped you to sustain a comfortable lifestyle after retirement. People rarely take care of such things when they are young, however, so you aren't alone if you didn't start thinking about investments until now. Even if you are already retired and have never met with a financial planner, it is never too late. You need to protect your fixed income, as well as your savings. Too many people jump into retirement with little to no investments to aid them in the future.
   



3. Get Healthy and Stay Healthy

   You have discovered, no doubt, that your body has been changing quite a bit in recent years. Never before has regular doctor visits and healthy living been more important to your body, mind and finances. With moderate exercise and a sensible diet, your retirement years will be all the more enjoyable for you. Not only will you save in medical expenses by fighting off chronic conditions, you will feel years younger. Medical insurance with a fair drug plan is essential, as many seniors take at least one medication with regularity. If you retire before you are eligible for Medicare, then consider a spouse's insurance plan or COBRA, which can be used for up to 18 months after you retire. If neither of those options are available and you can't afford private insurance, apply for Medicaid.
   



4. Aggressively Pay Off Debt

   Before you enter retirement, you should try to pay off your debts as aggressively as possible, lest you spend the rest of your life fighting interest fees. Credit card debt, in particular, is plaguing many seniors today. A balance transfer from a high-interest card to a zero-interest card is the first step in reducing your bills. Also, in regards to any kind of debt, try to pay more than the minimum balance due each month. Remember, a premature death could result in passing your debt onto loved ones.
   



5. Apply For Social Security

   The U.S. government recommends that you apply for Social Security three months before you are eligible. You can start collecting your benefits at the age of 62, although they will be greater each month if you wait until you are 65. Ideally, you should have other investments in place to supplement the Social Security, but many seniors live off their benefits alone.
   



6. Cut the Apron Strings

   Do you still have grown children living at home who don't help with the bills? Or, perhaps they live elsewhere with a little financial help from you? While your unconditional love and support is commendable, you must reduce your number of dependents in order to survive as a senior on a fixed income. A little tough love will be good for any children or grandchildren who see you as their meal ticket.
   



7. Join the AARP

   The American Association of Retired Persons, or AARP, offers many benefits to its members. You are eligible if you are over the age of 50, regardless of your retirement status. Many businesses participate in rewards programs for AARP cardholders, which will save you money on anything from food to hotel rooms. Also, the organization offers many insurance programs, including homeowners, auto, dental and medical. The latter is most welcome, as seniors often find it difficult, if not impossible, to qualify for private medical insurance.
   



8. Take Advantage of Senior Discounts

   If you become a member of the AARP, you will be eligible for countless discounts. However, there are some businesses which offer rewards to all seniors, whether they are AARP cardholders or not. From restaurants to movie theaters, always check to see if you qualify for senior discounts. This will probably only save you a few dollars here and there, but those dollars would be better spent (or saved) somewhere else.
   



9. Consider a Part-Time Job

   Just because you have reached "retirement age", it doesn't mean you have to retire. Some seniors can't afford to quit working completely, while others simply don't want to. If you are in a similar situation, then consider a part-time job. There are many companies, Wal-Mart for example, that value mature employees and offer tailored positions for senior citizens.
   



10. Don't Underestimate Your Lifespan

    While young adults often feel immortal, studies show that most seniors underestimate how long they will live. The result? They spend like there is literally no tomorrow. If you are already age 65 or older, then chances are very good that you will be over 80 when you pass away. Does that surprise you? It shouldn't, as modern medicine is making new discoveries about the human body every day. So, do your bank account a favor and keep planning for those rainy days, as you have many left ahead of you.
    



11. Check Your Credit Report

    It is important to check your credit history at least once a year. Not only will this keep you aware of how much debt you currently owe, it will also present indicators if you have been the victim of identity theft or fraud. Unfortunately, identity theft is on the rise, with seniors becoming specific targets. Criminals consider senior citizens easier to steal from for two reasons: people from older generations are often more trusting and they are also less savvy when it comes to technology. A free credit report can be obtained from the government once a year through this Web site.
    



12. Start a Budget and Stick to It

    Starting a household budget is crucial for those who wish to live frugally, a lifestyle which befits most seniors. If you don't know where to begin, then start with a simple checklist of expenses. Remember, drafting the budget is the easy part. In order to stick to it, you must have common sense and determination. Luckily, those who successfully reach their golden years will have both in spades.
    



13. Consider a Smaller House

    This can be a sensitive subject for many seniors, as letting go of the family home is very difficult. However, you may be left with a house that is much too big for your needs after the children have grown and left the nest. Even if your mortgage is paid off, utility bills and property taxes can be lowered significantly with the purchase of a smaller home. If your budget is tight and your home is large and empty, this is probably your best solution.
    



14. Avoid Shopping as a Hobby

    After retirement, you will have a lot of free time on your hands. Shopping becomes a hobby for many seniors, whether it is for entertainment purposes or because spoiling the grandchildren is so rewarding. With television viewing also a major pastime for seniors, paid commercials and shopping channels can contribute to a newly-acquired shopping bug. It is important to stay busy and to have fun, but you need to stick to your household budget.
    



15. Beware of Scams

    As we said before, senior citizens are often targets for identity theft and fraud. There are two ways in which seniors are commonly preyed upon: over the telephone and over the Internet. Remember to protect your personal information from anyone who calls you on the telephone, as well as someone who solicits you with an email. As you become more familiar and comfortable with new technology, you will be able to recognize scams more easily. Doing so can save you from potential financial ruin.
    

Face it, you've worked very hard for many years and you deserve some rest and relaxation. This can't be achieved without some forethought, however. It is never too early to start planning for retirement but, unfortunately, many people wait too long before they start to take it seriously.  Hindsight, as they say, is 20/20. If you have reached an age where you want to slow down and you realize you haven't taken the proper steps to afford you such a position, then it is all the more important to follow the above advice.

In ranking the most influential personal finance bloggers, our goal was to show — using objective data from reliable sources — which blogs about personal finance are the most popular. To this end, we used data for these four metrics to calculate the rankings:

• — Google PageRank
• — Alexa Rank
• — Technorati Authority
• — Bloglines Subscribers

Top 25 (see complete methodology below)

Rank	Site					Score
1	BloggingStocks	7	10	10	10	37
2	Get Rich Slowly	6	10	10	10	36
3	The Simple Dollar	5	10	10	10	35
4	My Money Blog	5	10	10	10	35
5	I Will Teach You To Be Rich	6	9	10	10	35
6	Blueprint for Financial Prosperity	6	9	9	10	34
7	Free Money Finance	5	9	10	10	34
8	Money, Matter, and More Musings	5	10	10	8	33
9	Consumerism Commentary	5	10	9	9	33
10	The Digerati Life	5	10	10	8	33
11	fivecentnickel.com	5	9	9	9	32
12	AllFinancialMatters	5	9	9	9	32
13	Personal Finance Advice	4	9	10	8	31
14	Generation X Finance	5	9	9	8	31
15	PFBlog	5	8	8	10	31
16	Mighty Bargain Hunter	5	9	8	8	30
17	No Credit Needed	5	8	9	8	30
18	Blogging Away Debt	4	8	9	8	29
19	My First Million at 33	5	8	8	8	29
20	Boston Gal's Open Wallet	5	7	8	9	29
21	Getting Finances Done	5	7	7	10	29
22	Online Business - Inside and Out	4	10	7	7	28
23	My Two Dollars	5	9	8	5	27
24	Binary Dollar	4	8	8	7	27
25	Grad Money Matters	4	8	9	6	27

Methodology

To begin, we found a set of Web sites that met a certain criteria. To become a member of the set of Web sites to be ranked, a Web site must, as of August 14, 2007:

• be listed on our previous post, Top 100 Personal Finance Blogs; or
• be ranked in the top 200 for the phrase finance blog on Google; and
• be primarily a blog about personal finance.

For each metric, a score was assigned on a 0–10 scale. For Google PageRank, raw PageRank data was scored. For Alexa Rank, Technorati Authority, and Bloglines Subscribers, the Web sites were broken up into deciles. If a Web site was in the 0>10% decile, a 1 was scored; for the 10>20% decile, a 2 was scored; and so on, up to a 10 being scored for the 90–100% decile. If no data was available, a 0 was scored.

The overall score for each Web site is the sum of the scores of the four metrics. In the event of a tie in overall score, the tie is broken according to the Alexa Rank raw data.

Raw Data for Entire Set

Rank	Site
1	BloggingStocks	7	24,932	1,737	570
2	Get Rich Slowly	6	31,203	1,841	1,453
3	The Simple Dollar	5	30,618	1,673	863
4	My Money Blog	5	55,600	656	843
5	I Will Teach You To Be Rich	6	73,500	596	10,859
6	Blueprint for Financial Prosperity	6	58,860	432	382
7	Free Money Finance	5	84,172	659	341
8	Money, Matter, and More Musings	5	48,382	939	106
9	Consumerism Commentary	5	53,753	448	221
10	The Digerati Life	5	54,452	1,146	85
11	fivecentnickel.com	5	55,774	413	226
12	AllFinancialMatters	5	94,399	273	155
13	Personal Finance Advice	4	64,866	1,144	77
14	Generation X Finance	5	82,475	300	115
15	PFBlog	5	165,694	257	543
16	Mighty Bargain Hunter	5	106,879	249	105
17	No Credit Needed	5	172,170	325	111
18	Blogging Away Debt	4	148,716	416	96
19	My First Million at 33	5	247,094	218	77
20	Boston Gal's Open Wallet	5	288,330	186	171
21	Getting Finances Done	5	333,824	156	329
22	Online Business - Inside and Out	4	52,519	155	64
23	My Two Dollars	5	99,483	214	21
24	Binary Dollar	4	132,848	198	53
25	Grad Money Matters	4	162,878	303	22
26	Queercents	3	288,651	379	84
27	2million	5	386,438	150	133
28	Make Love, Not Debt	6	582,602	136	143
29	Money Blog Network	4	23,995	56	57
30	The Frugal Law Student	4	255,458	267	22
31	We're In Debt	5	461,837	177	73
32	My Open Wallet	2	458,152	180	145
33	Single Ma's Fabulous Financials	5	627,875	210	52
34	FIRE Finance	4	433,139	527	16
35	ETF Trends	4	453,790	75	88
36	The Frugal Duchess	5	610,765	130	72
37	22 Dollars	5	163,997	30	22
38	Money Musings	5	266,269	0	183
39	My Financial Journey	4	278,793	176	21
40	Savvy Saver	4	934,592	80	167
41	Don't Mess With Texas	5	502,102	34	52
42	It's Just Money	4	720,015	101	71
43	Broke-Ass Student	4	511,992	114	13
44	Young and Broke	5	685,373	0	140
45	Well-Heeled	5	870,155	101	36
46	Million Dollar Journey	4	113,534	0	35
47	My Money Forest	5	743,602	44	22
48	The Budgeting Babe	5	1,089,926	1	245
49	Accumulating Money	3	278,289	88	11
50	Dual Income No Kids	5	821,775	67	21
51	An English Major's Money	4	1,119,108	110	27
52	Frank the Financially Savvy Atheist	5	1,360,235	119	17
53	How to Make a Million Dollars	4	578,065	95	5
54	Live Learn Invest	4	601,352	110	11
55	Bryan C. Fleming	2	774,138	112	21
56	VInvesting.com	4	1,127,477	39	21
57	Adventure Money	4	971,168	28	16
58	Enough Wealth	4	1,024,883	85	8
59	Mad Money Machine	5	1,301,865	26	15
60	Penny Foolish	5	1,426,223	0	42
61	OSAWatch	4	2,285,533	83	14
62	City Girl's Financial Blog	4	2,644,944	54	18
63	A Penny Saved	2	271,678	0	17
64	Money Crashers	5	396,725	0	9
65	Moneysmartz	4	581,479	9	12
66	The Finance Journey	4	858,903	65	8
67	Ask Uncle Bill	4	1,248,652	1	32
68	The Corner Office Blog	4	1,387,462	29	15
69	Adult ADD and Money	4	2,719,866	27	21
70	Credit Card Lowdown	4	345,655	0	1
71	Mapgirl's Fiscal Challenge	0	439,234	0	47
72	Debt Hater	4	1,904,900	0	29
73	The Weight of Money	4	6,336,060	38	14
74	Finance News Today	4	596,723	15	3
75	Aridni	4	1,038,672	0	12
76	Dimes to Dollars	4	1,440,682	19	10
77	The Financial Ladder	4	1,648,483	53	8
78	To One Million and Beyond	3	1,672,099	40	12
79	Stubborn Capitalist	3	7,048,515	18	23
80	Kirby on Finance	5	1,962,206	1	11
81	Medicated Money	4	7,321,379	23	11
82	Tired of Being Broke	3	8,121,493	35	12
83	Fearless Money	4	1,905,946	0	5
84	The Money Tortoise	4	2,453,130	0	9
85	Debtective.com	3	3,522,099	12	11
86	Debt in Seattle	3	3,655,097	34	3
87	My Money Path	3	No Data	22	10
88	Retiring Early	4	No Data	15	9
89	Credit Cave	4	3,811,730	0	3
90	Just Another Money Blog	3	6,328,333	3	7
91	Million Dollar Countdown	4	No Data	4	2
92	Cents to Save	3	No Data	5	2
93	Hill's Personal Finance	2	6,927,638	4	3
94	A life After College?	0	No Data	26	4
95	Finding Freedom	0	No Data	5	2

In ranking the most influential investing blogs, our goal was to show — using objective data from reliable sources — which blogs about investing are the most popular. To this end, we used data for these four metrics to calculate the rankings:

• — Google PageRank
• — Alexa Rank
• — Technorati Authority
• — Bloglines Subscribers

Top 25 (see complete methodology below)

Rank	Site					Score
1	Get Rich Slowly	6	10	10	10	36
2	My Money Blog	5	10	10	10	35
3	I Will Teach You To Be Rich	6	9	9	10	34
4	Consumerism Commentary	5	10	9	9	33
5	Money, Matter, and More Musings	5	10	10	7	32
6	Personal Finance Advice	4	9	10	7	30
7	The Ad-Free Personal Finance Blogs Aggregator	5	8	8	9	30
8	The Sun's Financial Diary	5	9	9	6	29
9	AllFinancialMatters	5	8	8	8	29
10	PFBlog	5	7	7	10	29
11	Blogging Away Debt	4	7	9	7	27
12	Neville's Financial Blog	5	7	6	9	27
13	Binary Dollar	4	8	7	6	25
14	Boston Gal's Open Wallet	5	5	7	8	25
15	Not Made of Money	4	7	6	6	23
16	Frugal For Life	4	6	8	5	23
17	Savvy Saver	4	4	5	8	21
18	The Budgeting Babe	5	4	3	9	21
19	Everybody Loves Your Money	5	5	3	7	20
20	Experiments in Finance	4	5	5	5	19
21	Money for the Rest of Us	4	4	7	4	19
22	Daily Speculations	3	6	3	5	17
23	Dedicated to Financial Freedom	4	4	6	3	17
24	Ask Uncle Bill	4	3	3	5	15
25	Finance For Youth	6	3	4	2	15

Methodology

To begin, we found a set of Web sites that met a certain criteria. To become a member of the set of Web sites to be ranked, a Web site must, as of August 14, 2007:

• be listed in the DMOZ category, Money Management Weblogs; or
• be ranked in the top 200 for the phrase investing blog on Google; and
• be primarily a blog about investing.

For each metric, a score was assigned on a 0–10 scale. For Google PageRank, raw PageRank data was scored. For Alexa Rank, Technorati Authority, and Bloglines Subscribers, the Web sites were broken up into deciles. If a Web site was in the 0>10% decile, a 1 was scored; for the 10>20% decile, a 2 was scored; and so on, up to a 10 being scored for the 90–100% decile. If no data was available, a 0 was scored.

The overall score for each Web site is the sum of the scores of the four metrics. In the event of a tie in overall score, the tie is broken according to the Alexa Rank raw data.

Raw Data for Entire Set

Rank	Site
1	Get Rich Slowly	6	31,203	1,841	1,453
2	My Money Blog	5	55,600	656	843
3	I Will Teach You To Be Rich	6	73,500	596	10,859
4	Consumerism Commentary	5	53,753	448	221
5	Money, Matter, and More Musings	5	48,382	939	106
6	Personal Finance Advice	4	64,866	1,144	77
7	The Ad-Free Personal Finance Blogs Aggregator	5	86,121	282	185
8	The Sun's Financial Diary	5	62,754	642	56
9	AllFinancialMatters	5	94,399	274	155
10	PFBlog	5	165,694	258	549
11	Blogging Away Debt	4	148,716	416	96
12	Neville's Financial Blog	5	156,653	141	417
13	Binary Dollar	4	132,848	198	53
14	Boston Gal's Open Wallet	5	288,330	187	171
15	Not Made of Money	4	187,317	111	46
16	Frugal For Life	4	218,733	324	32
17	Savvy Saver	4	934,592	80	167
18	The Budgeting Babe	5	1,089,926	1	245
19	Everybody Loves Your Money	5	590,012	0	71
20	Experiments in Finance	4	542,745	43	33
21	Money for the Rest of Us	4	685,363	177	23
22	Daily Speculations	3	275,386	0	40
23	Dedicated to Financial Freedom	4	1,043,622	81	12
24	Ask Uncle Bill	4	1,248,652	0	32
25	Finance For Youth	6	1,362,733	19	3
26	A Penny Saved	2	271,678	0	17
27	AL6400 Blog	4	1,442,180	26	3
28	How To Be Poor	4	1,935,532	11	28
29	A Frugal Living Blog by a Frugal Living Guy	5	3,616,499	25	10
30	Capital Ideas	4	No Data	0	44
31	Financial Reflections	4	4,023,372	0	10
32	Molly's Brother On A Mission	4	2,985,356	0	7
33	everySecondPaycheck.com	3	1,814,978	8	1
34	TheGoldenParachute.com	2	1,994,643	10	2
35	The Paranoid Brain	3	3,489,192	0	3
36	Indie Mission	3	No Data	0	2

To that end, the following ten cards represent our dream credit cards in alphabetical order. No matter if you're a geek, a gypsy, or a bigwig, you might find a card here that will suit your taste. At the very least, these ideas might generate thoughts about your personal dream credit card. Then, after you're through dreaming, you can visit our best deals at Your Credit Advisor.

The Digg card is for individuals who spend at least sixteen hours per day on the computer. The computer must be located in a basement or some other dark hovel. Otherwise, no other criteria must be met, as Digg's cash-back program eliminates the need for a serious job for up to ten years (face it, you do intend to work one day).

• 0% APR for ten years, after which you must develop skills beyond 'Digging.' At that point, you should know enough about SEO, human psychology, and headline writing to land a job as a CEO.
• No Annual Fee: You must write at least five titillating articles per year about this credit card and invite your circle of intimate moles to Digg those articles to maintain this "no annual fee" status.
• 90% cash rewards that never expire for any purchase, as long as it's made via the Internet and you Digg the purchase.
• Each time your article makes Digg's front page, you'll be rewarded with the remaining 10% that you spent on all previous purchases.
• Pay your bill in full monthly with your cash rewards and your Diggs will never be 'buried'.

2. Feedburner "Up In Smoke" Credit Card

Feedburner offers their small business credit card to business owners who want to realize profits from Web content and who want to keep personal and business records separate. Unlike other small business credit cards, the Feedburner card provides 24/7 access to stats that will blow your mind, especially since Google acquired those stats and will probably complicate them beyond all belief (but you'll have fun with the visuals).

• 0% APR, even when you decide to advertise in front of a group of A-list bloggers.
• There's no limit on the cash you can earn, even if you don't blog for a week (slight reduction for a month's absence).
• Earn 25 points for each dollar you spend on the Total Stats Program. Earn 5,000 points per week for life if you can figure out how to funnel and convert your stats from Feedburner, Google Analytics, and AdWords after two martinis.
• Redeem your points at any Hawaiian open pit luau (taxes might apply to airfare, maybe not).
• No Annual Fee: Are you kidding? Why do they need your money now?

3. Firefox "Keep On Giving" Credit Card

The Firefox credit card is for individuals who like to share their resources while surfing the Web securely. This card is available only to those individuals who can break the IE habit. Unlike other 0% APR cards, Firefox offers their card without interest for life. That's right. You never pay.

• 0% APR forever, plus more add-ons than you can count for life.
• Flexible Rewards Program: Earn Points for time spent customizing your Web experience, writing code for Mozilla, and by participating in grassroots marketing experiences. Redeem those Points for a high-paying tech job where you head up a department, thanks to all your experience.
• No Annual Fee: Once you obtain a high-paying job, you can opt to donate a tax-deductible annual fee that will fund server space for new open source projects.
• No fees for unlimited balance transfer, even if you can't build apps.
• You earn five Firefox Points for each month you pay your bill in full (called "donating"). You also earn Firefox Points for every person you refer to Firefox.
• Redeem Firefox Points at the Mozilla Store, or give them to someone who works at Microsoft for kicks and giggles.

4. Google "You've Got History" Credit Card

If you've searched high and low for the perfect credit card, Google will probably provide your answer. The Google card is designed for cardholders who want access to their credit history from well before they were born. But, you don't need great credit to apply for this card — you just need a search history where you've used Google at least once.

• 0% APR no matter which search engine you use. You'll come back.
• 10 points for every dollar you spend with "Where's Google?" written or stamped on it.
• 50 additional points worth USD $1 each for every dollar spent on Google shares (GOOG).
• Redeem rewards points for Google shares with no blackout dates (except for times when NASDAQ market is closed).
• No fees for balance transfer until GOOG splits. At that point Google will pay you for sticking around for so long.

5. Hack-A-Day "Even I Can't Hack This" Pre-Paid Credit Card

Sure, free pre-paid credit cards provide a great way for anyone to use a card no matter how shoddy the credit. You don't even need a bank account to acquire a pre-paid card. But, the Hack-A-Day credit card goes one step further, as this card sends a mild shock through anyone who tries to steal it from you. Additionally, the card can't be hacked, because you actually pay for the card way after you use it to purchase your items. Sometimes you don't need to pay for the card at all, depending upon the type of purchase (lasers, for example, are free).

• 0% APR, since you either pay for the card in advance or don't pay at all, depending upon your mood or the availability of any metal-like substance.
• Limited load capacity depending upon your number of comments on the Hack-A-Day site and the tone that you use. So, beware of overloading the card. Go ahead; try it to see what happens.
• No minimum balance. Plenty of room for negative balance as long as you send in over two photos per year that portray hack jobs that you or a friend or family member created. This is a very liberal policy and in beta.
• Earn five motherboards for every dollar you spend.
• If you can build a shelter from those motherboards, you may win a contest where you'll receive five truckloads filled with old peripherals.

6. Lifehacker "Tipster" Credit Card

The Lifehacker credit card is perfect for people with no credit, as this card will help build credibility if you can memorize lists and short news blurbs and work those items into everyday conversations. This card is easy to use and the rewards are enormous, but only if you write them on your palm and don't wash your hands for a week.

• No Annual Fee: Building credibility should be priceless.
• Credit line might be as high as an elephant's eye, which is about the same height as the price of corn grown for ethanol (or the height of a server farm for that matter).
• 0% APR on balance transfers as long as you recycle your electronic equipment responsibly.
• Lifehacker offers one software or productivity tip or trick for every dollar you spend. These tips are yours and yours alone and will never be published on the Lifehacker site. They want you to look smart when you use their card.
• Participate in a Sweepstakes Opportunity where you win the opportunity to try to sell Lifehacker to Google for as much as possible. You retain 75% of the sale after taxes, plus free tips for life.

7. OSTG "Get Geek" Credit Card

Open Source Technology Group (OSTG) offers a credit card to geeks who can balance their binary clocks with their green laser pointers while taking photos with their James Bond Stealth Digital Cameras. You get instant approval if you can spell "Slashdot" backwards on the online application; however, unlike other instant approval solutions where you may wait weeks to receive your credit card, OSTG sends your card via overnight delivery so you can use it, like, tomorrow.

• 0% APR for as long as Linux lives. That's forever.
• Voted "Best Open Source Line of Credit" by Elliott C. Back, who uses this card to warn people about his mystic technical abilities.
• Receive 1 gigabyte in Bonus Points if you use this card to visit any Nerd Getaway.
• Redeem points for any item at ThinkGeek. No shipping fees. No taxes. No worries.
• No annual fee as long as you know where technology is going.

8. Treehugger "Sustainable Aesthetic" Credit Card

Treehugger provides their biodegradable credit card to anyone who can label any purchase as "green" with logical rationales. You must first provide corporate names behind your purchase from concept to actual production, marketing, and product placement. Otherwise, you're free to roam through clearcuts or forests with the benefits provided by Treehugger's Travel Rewards, which, unlike other travel rewards programs, provides restrictions and penalties for carbon footprints.

• 0% Apr for life as long as you wear something organic and don't use the card to purchase bottled water.
• No Annual Fee: Does a tree pay to live? Not.
• Earn a partial trust fund for every purchase made through Treehugger. Ignore any product reviews written by their readers, and they'll double the reward.
• Travel points rewarded for running with wolves whenever possible. You can redeem travel points for hydrogen bicycles or for walking, running, or swimming.
• Treehugger card benefits include real and armchair accident insurance (wolves do bite, whatever bees are left still sting, and you can hurt yourself laughing while just looking at Bill Maher, no matter your political leaning).

9. Wikipedia "Unbridled Passion" Credit Card

Wikipedia offers their contactless credit card to anyone who is passionate about at least one thing in life and who can cite at least half the facts about that passion. You can use this card in any country where a language is spoken. Just wave your Wikipedia card at a special RFID reader and they'll bill you, but — unlike other contactless credit cards — you can edit your bill as you see fit.

• Ongoing 0% APR for every month that you write or edit a Wikipedia entry and cite your entries with credible sources. Or not.
• Fee-Free Rewards Program: If you remain loyal to Wikipedia for at least two years and they can verify that you exist, they'll pay for your college education, no links attached.
• No Annual Fee: You also don't receive a soapbox or an original thought. You won't be censored, but your ideas may be edited or removed altogether from the Rewards Program for shock site inclusion; however, you can slip in a few double entendres if you're sharp.
• Wikipedia is your launch pad for collaborative efforts and discriminate tastes. Shop for as many internal links as you want without penalties for late payment or for bounced checks and balances.

10. Wired "Danger Room" Credit Card

The Wired "Danger Room" credit card is for individuals who like to maintain a defensive posture about their purchases. If nothing else is secure, at least your credit will be safe. This card is perfect for small businesses, especially those entities that face intense competition from fierce developing nations.

• 0% APR for the life of your camos, no matter what Homeland Security says.
• You don't earn points with this program, but you do gain access to any number of highly secretive local and regional survival shelters. If you blab about these shelters, your line of credit will be immediately withdrawn and you'll spend a year in a small room with Martha Stewart and a microwave.
• No Annual Fee: Plus, Zoltan, the only Belgian Malinois on the CIA K-9 Corps, won't target your kids (nieces, nephews, neighbor's kids, etc.).
• No fees for balance transfers, and Danger Points awarded for any Coast Guard purchases made after 2006.
• Travel Points awarded to anyone who adopts a platoon, but restrictions may apply depending upon whether your trip is voluntary or mandatory.

With a possible rise in living costs, retiring early can be tricky - but it isn't impossible. At year-end 2006, there was $16.4 trillion in American retirement accounts. There are a number of things that you can do to prepare yourself for those extra retirement years, and with careful planning and the right investments you can actually live quite comfortably. Here are a few things that you'll need to consider before you head to the golf course rather than back to work.

Retiring early is possible only if you're willing to change your spending habits. You absolutely must commit to spending less than you earn. Cutting spending, saving as much as possible, and maximizing your investments will help put you on target to retiring before 65. If you have a 401K or IRA you'll want to contribute the maximum during your working years. Currently, there are People are living longer than ever, so you'll need savings and investments to last you anywhere from 25 to 30 years after you retire. It's better to have more money than you need than to run out of cash when you can no longer work.

Pension

For those lucky enough to have a pension from their working years, these payments can cover a large portion of retirement costs. Yet, you will need to carefully consider how you will manage these payouts.

Most pension plans offer two options for payment plans: you can take the money in one big chunk or absorb the pension through smaller regular payments. This is a complicated decision, so you might want to consult an accountant or financial advisor to figure out which option is best for you.

Each style of payment has its benefits and drawbacks. Smaller monthly payments are steady, much like a paycheck, and they can help you budget your pension for the duration of your retirement. This type of payout can differ in that some plans end when you die and some can continue to be paid at a lesser rate to your surviving spouse. One drawback to smaller payments, however, is that in the case of an emergency you will not have access to all your funds at once and could be saddled with a large bill that you would be unable to pay.

Lump sum payouts put you in charge of all your money at once, but you'll need to make sure that you manage this lump sum well and don't take up shopping as a hobby. Sometimes taking all the money up front can sever other benefits offered by your pension plan such as health care and insurance, so you'll need to decide if taking a lump sum is worth the potential loss of those benefits. Lump sum payments will also generally need to be rolled into an IRA as they can often be subject to heavy withholding fees (sometimes in the neighborhood of 20%). While IRAs generally stipulate that money can't be withdrawn until you are at least 59 and a half, in the case of medical expenses, home purchases, or funding education withdrawals can be made before your required age stipulation.

Managed well, a pension plan should take care of a large portion of your retirement expenses. You'll just need to consider how to make the most of it before you leave the workforce.

Social Security

Retiring early can have a big impact on your social security payments, so you'll need to weigh your options before taking early retirement. Social security payments are based on the average of your best 30 years of work. If you retire too early - before you've been in the workforce for 30 years, for instance - some of these years can count as "zeros." This lack of funds can have a very significant impact on your social security checks, so be sure you can take this kind of hit before you retire.

While social security benefits start at age 65, it is possible to receive payments as early as 62. You will be docked a small percentage until you turn age 65 if you take early payments. Depending on your circumstances, this might be an option for a little extra cash each month, even before you turn 65.

Inflation

When planning for your retirement you'll need to make allowances for inflation. What seems like a lot of money today probably won't seem like nearly as much when you reach retirement age. In general, you should plan for at least a 3% increase per year for inflation when you put your money into a savings account or into an investment.

Mortgage

As debts go, a mortgage is one of the best kind to have because the interest you pay is tax deductible. But when considering retiring early is it necessary to pay off your mortgage? It depends your other debts, as well as your personal comfort level.

If you have thousands of dollars in credit card debt or a high interest car loan it makes sense to pay these more expensive debts off first rather than to worry about your mortgage. Even if you don't, you may want to consider putting more into your investments than towards paying off your mortgage. If you're earning more interest on an investment than you are paying on your home then you might be better off maximizing those investments instead. Of course, if the interest on your house is outpacing your returns then you'll want to keep paying into your mortgage.

Also, your retirement plans shouldn't necessarily include your home as an investment. While you can always sell if needed, your home should be a part of your retirement's net worth. If your early retirement plans require that you sell your home you might want to stay in the workforce for some additional years.

Little Things

Like most things in life, some of the stress of early retirement comes from ironing out all the little details. You'll need to figure out how much you'll need to spend each month for living expenses. Don't forget to add entertainment and travel costs into this budget, because gas for your Winnebago and golf greens fees don't pay for themselves. In some respects you may save more money by remaining home, as you'll be able to cook at home more and you may not be tempted to make that Starbucks run every morning. But, since you'll have much more free time, other expenses will likely rise. Try to take this into account when budgeting.

You'll also want to make sure that your car and home are in good repair before you retire. It's much easier to pay for a costly new roof while still in the workforce than try to work it into your retirement budget. There are many of these things you simply won't be able to predict and you'll need to make sure that you have a substantial amount saved to act as an emergency fund.

One of the largest costs you'll face in retirement is health care. Some employers may provide health insurance or benefits as part of a pension plan, but most retirees will be paying for this kind of care out of pocket. Not having long term care insurance and health coverage might save up front, but it can be financially devastating in the long run if something were to happen to you or your spouse.

Many people dream of retiring early, and for some this dream can become a reality. It just takes some careful long-term planning and smart choices today that will work for you tomorrow. Retirement should be about relaxing and hobbies, not about worrying about when the money will run out. Make sure before you leave the workforce that you've got enough squirreled away to last you for the rest of your long and healthy life.

Beyond the expenses that you'll incur with your wedding and honeymoon, money may provide most of the contention within your marriage. While discussions about money might seem unromantic at this moment, it's best to talk about the future now before that marriage makes you legally bound to each other. Once you've said, "I do," some things can't be undone.

One way to break the ice on the money topic is to discuss your financial goals together. It might help to list short-term goals (wedding, honeymoon, new car) and long-term goals (your college payments, children, a child's college education, a home, retirement). Once you both determine which goals are most important, you can focus your energy on achieving them. Set timelines so that your goals seem achievable, especially long-term goals. This goal-setting project could also provide a bond that will cement your friendship with each other.

2. Budget your income(s)

Once you've defined your priorities, you can budget one or two incomes to meet those challenges. Organization and disclosure with each other is key, no matter if one or both partners work on the budget. If one spouse is hospitalized or otherwise incapacitated, the other spouse will then know how to take over that budget.

If you begin to determine your net worth before the wedding, you'll be able to understand how you'll meet those short-term goals or debts now. This practice run on the initial budget will help you understand each other even better as you begin to cut corners on the wedding and honeymoon so you can finance that new home.

3. Create New Bank Accounts as Needed

Although joint bank accounts contain some advantages, such as easier record keeping and lower maintenance fees, the joint account might prove troublesome if both partners write checks on that account. Separate checking accounts might help keep the peace, especially if one or both of you want to maintain some sense of financial independence.

One solution would be to use a joint account to pay bills, and then each spouse could maintain separate accounts for personal spending. Savings accounts are another matter, as you might want to use an interest-bearing account to save for those long-term goals. Joint savings accounts that combine two incomes will garner more interest income than two separate accounts that contain less money each.

4. Keep Credit Cards Separate

Unlike bank accounts, you'll want to keep your credit accounts separate. Once your name is applied to your spouse's card, you will become as responsible for the debt on that card as your spouse is now. If your spouse has poor credit, the addition of your name on that spouse's card will impact your credit negatively as well. Authorized users, however, can use a spouse's card without the responsibility of the debt. An authorized user's credit rating won't affect the cardholder's credit rating; but, if that authorized user maxes out your credit card at the local casino, the original cardholder is responsible for that debt.

You both might want to consider paying off and eliminating expensive cards (like that card you managed to snag when your credit was bad) or you both might call your credit card issuers to bargain down interest rates and annual fee payments. If you're in shape to pay off a credit card quickly, you might consider using a rewards card to pay for your wedding. But, keep in mind that the worst way to enter a marriage is to enter deep in debt.

5. Review Insurance Policies

If you both carry life and health insurance policies, you might want to conduct a cost/benefit analysis on both plans to see if a combined policy for life and/or health might be more cost efficient. Be sure to take deductibles and benefits into account before you decide what you both can live with during the first few years of your marriage. You'll want to constantly reassess your insurance policies as you build a family and as you age to take advantage of the best benefits offered.

Consider pooling your automobile insurance policies as well, as many insurance companies will provide discounts if you insure more than one car. If one of you has a poor driving record, however, that history might spell higher premiums.

6. Consider Employer-sponsored Retirement Plans

When you compare insurance policies, you also might want to compare retirement plans. Review plans carefully and determine which plan provides the best benefits. If your cash flow is limited, you might focus on one plan for your retirement strategy. But, if you can afford it, try to max out your participation in both plans. Some points to look for include company plans that match contributions, the vesting schedules for the employer's matching contributions, options, and whether you can take out loans on that retirement plan for emergencies.

You might want to study your tax situation as well, as married individuals who file joint or separate returns abide by different IRS rules than unmarried individuals. IRS regulations will also affect your income tax status as your family grows. Finally, the IRS will also affect your retirement options (do you get the feeling that you're marrying the IRS?). Although you might decide now to file joint returns, you may change your mind year by year as the IRS changes their rules that often. Stay on top of these rule changes to take advantage of any and all tax benefits.

7. Commit to a Prenuptial Agreement

You might not think you have enough money to pursue a prenuptial agreement. After all, those documents are for the uber-rich, right? Not so, especially if you meet any of the items listed below:

• You have assets such as a home, a portfolio, or retirement funds
• You own all or part of a business
• You have children from a previous marriage
• You are wealthier than your fiancé
• You are pursuing a degree that might increase your income dramatically
• You foresee major potential in your job or profession
• You want to have peace of mind

If you can broach this topic before you become engaged, you might discover new facets to your spouse-to-be. This topic shouldn't present a problem if you and your significant other are open with each other, as a prenuptial agreement basically protects your current and future assets against malevolent and unpredictable forces.

You will want to retain separate attorneys to create this document so that there isn't a conflict of interest down the road, and make sure that both attorneys sign the final agreement. Consider the "sunset clause" with caution, as you might decide to change the prenuptial down the road, but you may not want to an expiration date on that agreement now. You also want to finalize the prenuptial at least one month before the wedding. Many prenuptial agreements made on the spur of the moment have been tossed out of court based on "coercion," or as a frivolous request.

8. Beneficiaries and Death

If your marriage is blessed and you remain married for life, you might want to talk with your spouse about your final wishes. Preplanning funerals is a wise idea, just as smart as planning for retirement. But, you might want to sock that funeral money away in an interest-bearing account rather than prepaying for that event. Earning interest is always smarter than paying outright for anything, especially since this purchase isn't one that excites most individuals.

This preplanning also calls for other documents that can insure your loved ones' financial security long after you're gone. Take stock of all your assets and arrange to change beneficiaries if needed. You'll want these beneficiaries to remain consistent with any prenuptial agreements and wills so that your family won't experience conflict over discrepancies once you're gone. These documents will change over time as your family grows.

If you love each other enough to tie the knot, then the ability to sit down with each other to talk about life's eventualities could make that knot more secure. If not, then you might think twice about sharing your life - let alone your assets - with a person who cannot talk about your future together. After all, an inability to communicate, compromise, and commit may be the reason why most marriages fail.

You should know the ugly truth first: even the most amicable divorce can leave you in financial ruin. In the course of your marriage, you most likely merged all of your finances, from your bank accounts to ownership of property. A majority of marriages also have one partner who takes most of the responsibility when it comes to paying bills, which inadvertently leaves the other person in the dark about a lot of things. All of these arrangements, once just a common aspect of a committed relationship, contribute to credit problems upon separation.

When you get a divorce, it is your marriage that is ending and not your shared financial responsibilities. Even if your spouse accumulated some debt without your knowledge during the marriage, you may be held responsible for it after the divorce. That is, of course, if you don't take the proper actions and sever all financial ties with your ex (excluding any child or spousal support, of course). This doesn't have to be as nasty as it sounds, either. In fact, most divorcees are pretty eager to get on with their lives, rather than dragging out the affair with bitter opposition. Not all divorces are as heated as the ones you see on television. However, even if your partner is being reasonable about things, it doesn't mean that creditors will show the same cooperation. That is why the ties must be severed sooner rather than later.

Protecting Your Finances Before the Divorce

While you may not want to think about money when you are experiencing a traumatic life change such as divorce, being practical may save you from even more heartache down the road. The best way to keep your credit safe from divorce is to start making changes as soon as the two of you decide to separate. The following steps should be taken:

1. Assess Your Responsibilities — You need to be aware of all the accounts you are responsible for, including bank accounts, mortgage loans, credit cards and utilities. Even if you and your spouse have decided who gets what property, you need to make sure that the right person is solely responsible for their respective belongings.
2. Dissolve All Joint Accounts — Rather than trying to divvy up what is owed on your joint accounts and asking your ex to honor their half, you should remove the right person's name from the accounts or cancel them completely. Make sure the both of you do the canceling together, legally. The first place to start is the bank, as most couples share checking and/or savings accounts when they are married. Also, if you are taking possession of one car with both of your names on the note, have your spouse's name removed. Make sure that your spouse does the same thing with any property they take. (If you are still paying for any of this property, then you may have to refinance to get the loan down to one name.) Any bills you paid together, such as your utilities, should be put in one name. As for credit cards, you can try to work with the credit card company and have them transfer half of the balance to two different accounts in anticipation of the divorce.
3. Sell the House — A common mistake that people make is giving their house to their spouse after the divorce. This may be due to abandonment or perhaps a well-intentioned arrangement because there are children involved. However, the best thing to do is to sell the house together and divide the profit. After all, no one can predict the future. Countless divorcees have found their credit ruined because their ex let their house go into foreclosure. Explaining to creditors that you are now divorced won't make you any less responsible for a mortgage with your name on it.
4. Divide Any and All Shared Cash — In the process of allocating debt, canceling accounts and selling property, you and your spouse will probably be left with some liquid assets. You should, perhaps with the assistance of your divorce lawyers, fairly divide that cash before you walk out of each other's lives. This is the legal, sensible and ethical thing to do.
5. Document Everything — Once the courts become involved and your divorce is finally underway, make sure that all of your financial arrangements and agreements are documented. That way, if there are any discrepancies down the road (such as a creditor bugging you about your ex's car payments), you can refer anyone to your official court records. While this may not be a surefire way to get a collector off of your back in a timely manner, you will have the law on your side and the means to protect or restore your credit.

Saving Your Credit After the Divorce

Hindsight is always 20/20 and many people get a divorce without preparing their finances beforehand. This is understandable, as it may be hard to set aside emotions long enough to get everything in order. However, not doing so can result in serious issues with your credit score. If you have already finalized your divorce and are now being held responsible for your former spouse's debts, make sure you do the following.

1. Check Your Credit Score — This is something you should do at least once a year, but it is especially important after major life events. By checking your credit score you can see if your credit has been adversely affected by your divorce. It will also show if there are any debts that you used to share with your spouse that are now being neglected. This will point you in the right direction when it comes time to cancel any joint accounts.
2. Separate/Cancel All Joint Accounts — Even if you ended your divorce on very bad terms, you simply must have a sit-down with your ex. Any and all accounts, debts and property that you still share should be separated, canceled or sold. In other words, you must separate your finances like you have separated your relationship. This can be most easily accomplished with your former spouse's help. If he/she won't help, it is time to call your lawyer. Either way, your financial ties must be severed.
3. Notify Creditors of Your Divorce — Once you have separated/canceled all of your joint accounts/debts, you are no longer legally bound to your former spouse's current debts. Call all of the creditors who have been bothering you and alert them to this fact. In a perfect world, they would apologize for the inconvenience and never call you again. However, it may take awhile before such calls cease entirely. In addition to notifying the proper collectors, you should right a letter to them as well. That will help them to expedite their file updates.

Divorce is an ugly thing, no matter how it is carried out. The end of a marriage is a traumatic event that is only compounded by high court costs and possible credit problems after everything has settled. If you are thinking about divorce, follow the proper steps in separating you and your spouse's finances. Otherwise, your credit score may plummet until everything is in order. The modern world revolves around credit, so a low credit score can have a devastating effect on your life. By taking the measures listed above, you can avoid any further distress than divorce has already caused you.

Although veterans, shoppers, patients and employees have demanded more privacy protection, federal legislation can prove ineffectual unless data wasn't secured sufficiently. States have stepped in, but they've passed privacy laws that represent mere patchwork solutions to an international problem. In addition, technological advances have expanded potential for data to be used and compromised by legitimate companies and in underground chat rooms. How can you protect yourself from personal data exposure?

The following information will help you to discover whether your personal data has been compromised in the first place. If it has, you'll find more information about what to do to correct the problem - if anything needs to be done - and ways to protect yourself in the future.

The Federal Reserve Bank in Philadelphia held a conference [PDF] in September 2006 that focused on information security, data breaches, and cardholder information protection. They identified three types of data breaches that affect consumers:

1. Data at rest: Data at rest is information that resides on computers or on other devices within an organization. This type of data represents a specific risk because that data is vulnerable to insider threats, and these threats are hardest to protect against.
2. Data in transit: Data in transit is information that is traveling over networks. While this data is often more secure within corporate environments as it is the most straightforward problem to address with encryption methods, data in transit in the private sector is less secure where there is often a more extensive processing chain with multiple parties using several networks.
3. Data in travel: Data in travel includes information stored on laptops or other portable devices like thumb-drives, PDAs, and cell phones. According to this report, the Federal Reserve "has policies that define appropriate use of data and how and where the data can be transported." Researchers found that lost or stolen laptops remain the top culprit, accounting for 45 percent of all the incidents studied by the Ponemon Institute.

The problem here is that the Federal Reserve represents just one entity among thousands that hold personal information on file in at least one, if not all three, situations noted above. The well-publicized Veterans Administration (VA) 'breach' that occurred in 2006, for example, was just one of five breaches that the VA experienced in 2006. All total, approximately 28,637,500 veterans were affected by these events.

While the computer that contained information that affected 26.5 million veterans was found and it was felt that none of the information had been compromised, this doesn't mean that any veteran can rest easy. The VA's Security Operations Center has referred 250 security breach incidents since July 2006 to its inspector general, which has led to 46 separate investigations that has affected millions of veterans, VA patients, and physicians.

While these government breaches seem inexcusable and incompetent, it is somewhat heartening to understand that not all 'breaches' lead to identity theft, nor are they the only means by which identity theft may occur. With that said, how do you know if your information was included in any one of the numerous cases that were documented over the past few years outside the VA? As you'll learn below, you may not know if your information has been compromised until the damage has been done.

Data Breach Omissions

In some cases, you might not learn that your data was stolen until the company or organization that was affected informs you about the breach. Often, you'll find out about a breach in the news much faster, as data breaches and their consequences have become more prominent in the press. While federal legislation has moved slowly, California was the first state to act on consumer protection, and businesses and organizations are following suit.

California's Senate Bill 1386, which was enacted in August 2002 and became effective in July 2003, has become the benchmark for data breach notification. This bill requires firms that do business in California to notify consumers when a data breach has occurred, regardless how that information was or was not used. Since the California market is sufficiently large, if consumers are affected in that state, then consumers could be affected nationwide.

Take, for instance, the case in 2004 where ChoicePoint learned that their data may have been compromised. While ChoicePoint maintains a dossier on virtually every American consumer that includes name, address, Social Security numbers, credit reports, and more. ChoicePoint remained mute about the theft for four months on the claim that a government agency forced the firm to delay notifying individuals, even in California. Finally, in February 2005, over 30,000 Californians were informed about the breach. Within days, ChoicePoint confirmed that scammers culled personal information about tens of thousands of Americans, and that this theft resulted in at least 750 individual cases of identity theft within those four months.

As of 2006, twenty states created statutes that impose restrictions on the use and transmission of Social Security numbers. Six states have set general standards for information security, and some states are beginning to implement statutes that require appropriate disposal of sensitive records. The Federal Trade Commission (FTC) passed regulations in 2005 that require proper destruction of consumer reports based upon the fact that more employers are ordering background, credit history, and criminal conviction checks on job applicants and current employees. This 'patchwork' of legislation is grounds for the adaptation of uniform consumer protection, a policy-making process that's in the works but far from being employed.

Data Breach Research

At this point you probably realize that the dissemination of your personal information often is beyond your control. And, if you don't stay in touch with the news or if you haven't been informed personally about a breach, you might not realize that your personal information was probably in peril several times - not just once - within the past year alone.

Privacy Rights Clearinghouse maintains a public database that lists all known data breaches that occurred from 10 January 2005 to the latest known breach in June 2007. A quick glance at this list shows that the majority of hacked, stolen, and lost information occurred at universities, government agencies, and banks across the nation. While businesses aren't immune from data breaches, the general public might hope that they could trust colleges, financial institutions, and the government to keep their personal information safe.

If you can find a reason to believe that your information was included in any one or more of the breaches listed at the Privacy Rights Clearinghouse, then you might want to conduct more research about the particular incident(s). You can search online, but you can also call the organization directly or learn more about the incident through the organization's Web site. In some cases, you might find class action lawsuits that have been generated, but your chances at achieving restitution might be slim unless the organization didn't take measures to protect your information.

Data Breach Costs

Data breaches per se do not violate the law as a company or organization can take reasonable precautions and still be victimized. However, the failure to adequately secure consumer data can be grounds for violation of the “unfair or deceptive practices” standard of the Federal Trade Commission Act and possibly the Fair and Accurate Credit Transactions Act of 2003 (FACT Act), the Fair Credit Reporting Act (FCRA [PDF]), and the Gramm-Leach-Bliley Act. If you become involved with a class action lawsuit, you might inquire if any one or all of these protective acts are being incorporated into the suit.

Although the personal cost to consumers - even when data has not been compromised - is huge, corporations and organizations that have victimized are paying increasingly higher costs for data breach incidents. eWeek reported that the Ponemon Institute discovered the average cost of a breach above and beyond any consequences of the misuse of data equaled $182 per data record. This study covered thirty-one breaches that amounted to an average cost of $4.8 million per incident, per firm. This cost reflects a thirty percent increase over the costs calculated in the previous year.

Unfortunately, since many companies and organizations aren't prepared for data breach incidents, their initial unrehearsed actions often account for this high cost. Credit card issuers often phone customers when those consumers' data might have been compromised rather than using the mail. In these instances, the credit issuers often offer the chance to close a compromised account and offer incentives to discourage those customers from taking their business elsewhere. Phone calls, compensation for closed accounts, and incentives all add to the company's bottom line.

In addition, the cost for a breach could include fines and restitution that the FTC or that banking regulators might order. These costs would include paying for credit monitoring services for consumers whose data were exposed. Non-banking organizations that fail to adequately store data securely also can face penalties from the FTC, as this organization has the authority to impose an annual twenty-year audit requirement that can prove costly.

These costs will force organizations and businesses to tighten security when they can afford it, or force smaller businesses to abandon online purchase procedures because of the cost. On the other hand, many consumers have learned that online purchases are often fraught with real or imagined perils, and this additional fear puts the entire online purchase and banking situation at a crossroads.

Summary

I wish I could tell you about an easy solution to this growing data breach problem, but that solution doesn't exist. You can, however, reduce your risk for identity theft through actions that you can control. You can also learn more about credit card security issues so you're aware of changes within this financial arena. When you gain knowledge and prepare for the worst possible scenario, your efforts will save time and money in the long run.

Online security issues are also important, but you might breathe easier knowing that only twenty-three percent of all malicious software created in 2006 exploited software security vulnerability. In fact, you are responsible for compromising your security when you infect your computer with malicious software. Don't click on virus-laden emails attachments (or any attachments for that matter unless you've verified their arrival with the sending party), and be careful about clicking on links contained within instant messages or even on trusted sites. Before you click, right click on those links to see if their URL addresses match the name of the business or organization. If not, click at your own risk.

Finally, it may be wise to note that many laws currently state that organizations and businesses are allowed a forty-five day window before they need to inform consumers about a data breach. You can, in that time frame, already know if your financial accounts have been compromised by reviewing your monthly bills. You also can bookmark the Privacy Rights Clearinghouse site as well as the Federal Trade Commission site so you can stay on top of any changes in known cases and in legislation. As soon as you discover that your personal information might be at risk, take steps immediately to secure your privacy and your information. Even if you discover later that your information remained safe, the steps you take now can provide you with the skills you need to remain secure.

An addiction is a psychological and physiological dependence on any substance or activity, and the signs of addiction vary depending upon your "drug" of choice. When it comes to debt addiction, the signs that a person might be addicted to borrowing begins with actions that the debtor justifies. The problem escalates and often ends with symptoms that can affect the debtor and his family and friends physically and emotionally. All the while, the debtor develops a strong case of denial about his problem. Addiction is powerful and the behaviors are difficult to overcome.

If you realize that you're in debt over your head and you also realize that your "lucky" break to pay off that debt may never come, then you might recognize your behavior in this list developed by Debtor's Anonymous (DA), if you answer "yes" to at least eight out of the following fifteen questions on that list, you might be a compulsive debtor. Some other signs that you might be addicted to borrowing include the following.

Granted, most credit card companies don't tutor you on how to use credit cards responsibly and they don't want you to know how to simplify your finances. They want you to spend and sometimes it's okay if you don't pay. After all, the credit card company benefits from your late payments and increasing interest rates. But, the penalties for accumulating debt often are severe for the debtor.

If you feel that you fit the bill for a debtor in trouble, you're not alone. If you feel powerless about your debt and your spending, you can always turn to Debtor's Anonymous, where borrowing addicts in recovery can help you turn your life around if you're willing to change. Changing your spending and borrowing patterns isn't going to be easy, but others have done it and they're willing to teach you how to change. While this program might not salvage broken marriages, clear up bankruptcies, or fix other problems that occurred from your borrowing habits, it can help you to learn how to accept your past and move on to a more productive and debt-free life.

If you are taking out a personal loan, you should decide if you want a secured or unsecured loan. A secured loan is one that requires you, the borrower, to offer some sort of asset as collateral. Usually, this asset will be a large piece of property, such as your house. In other words, if you don't pay back your loan as promised in the agreement, your house will be repossessed by the lender. An unsecured loan, on the other hand, requires no assets from the borrower, thus you won't risk losing any collateral.

Most people find it very easy to obtain a secured loan, as lenders have nothing to lose in the deal. However, you should only consider them as a last resort. If you have a decent to excellent credit history, then always opt for an unsecured loan. Should anything unforeseeable happen and you are unable to make payments on an unsecured loan, at least you won't have your house on the line. If you have poor credit, you may still be able to get an unsecured loan, but your rates will be much higher. If it will save you significantly on your rates to get a secured loan, only in this extreme circumstance should you opt for one.

Find a Low Interest Rate

When comparing loans, you will be faced with two kinds of interest rates: fixed and variable. Don't even consider a variable loan if you want to lock in on a low rate. While the introductory APR may look attractive to you, a variable rate is susceptible to change, which means it can go lower or higher at any time during your repayment. You should assume the worst here and protect yourself from a potentially sky-high rate in the future. A fixed interest rate is just that, fixed in one place, indefinitely. Assuming you make a careful decision, you will be pleased with your fixed rate and never regret that you turned down a tempting variable rate.

You should never go with the first quote you are extended. Instead, seek out several lenders and compare their offers. (Note: Make sure you get these quotes within the same two-week period, as all of the credit inquiries will then only count as one.) Naturally, you want to find the lowest interest rate, but that shouldn't be your only deciding factor. Assuming that a few of your options are very similar in terms of rate, you need to read the fine print and see what other features are offered with these loans. When you do this, you may find some hidden costs that would make one offer seem less desirable than first imagined.

Beware of Hidden Costs

If you think you have found a loan with the best rates, look deeper. Are there any extra fees or misleading terms attached to this loan? Some lenders include arrangement fees and early repayment fees in their loan agreements. As for the latter, should you pay more than your minimum amount each month, chances are that you will pay back your loan early. Why would you want to be penalized for that? Even if you don't think your loan will be paid off early, you should avoid this repayment penalty, just in case.

In addition to hidden fees, you may find yourself duped by carefully worded terms in the agreement. For example, one bank may offer a very low APR that seems desirable, yet they want you to pay back the loan much faster than you had planned. Even with that low interest rate, the monthly payments would be very high, perhaps too high for you to manage. Try to conduct some research before comparing loans. While some information may be misleading because the lender is being a bit unscrupulous, it could also be due to your own ignorance.

If you really like one agreement, yet you find some questionable fees or jargon attached to it, try to negotiate with the lender. They may be more flexible than you think, particularly if you have good credit on your side. You should already know your credit score going into these negotiations but if you don't, you can obtain a free annual credit report from the government. Borrowing from the bank that you normally do business with may help your case when trying to amend the offer made to you.

Making the Final Decision

While it is a given that you should read the fine print, you may want to go one step further and consult a financial advisor before signing on the bottom line. Make sure this is an impartial third party that isn't affiliated with the financial institution you are borrowing from. In some cases, such as borrowing money in a foreign country or borrowing extreme amounts of money, you may want to also have a lawyer present. These are all safety precautions that will help to ensure you are entering a fair agreement.

How does one really get the "best rate" on a loan? It isn't all about the interest rate, as explained above. What it really boils down to is a fixed, low interest rate in addition to no hidden fees or penalties. Also, you need to pay back your loan in a timely manner. Try to avoid paying minimums and always borrow as little money as possible. Even if you qualify for more money than you need, don't feel tempted to take it. Do your homework and take your time in making a final decision with your loan. Once you feel you understand how the market works and what your loan really entails, then you will be prepared to finalize your agreement.

While these tips don't only apply to women, they do address many of the issues that women face when dealing with planning their financial future. If nothing else, remember that your financial success depends on your attitude about money and your willingness to take your financial future into your own hands.

The bad news is that most self-employed individuals don't take time to learn about their retirement options, even though they may know exactly how they want their businesses to grow. The good news is that you can set up and - in most instances - control your own tax-advantaged retirement program and put aside more each year than the average wage earner. The following list details the best self-employed retirement plans based upon 2007 tax rules.

SEPs or SEP IRAs can represent a significant source of retirement income for self-employed employers and their employees. You can contribute and deduct up to 20% of your self-employment income (25% if you're an employee of your own corporation) into a traditional individual retirement account (IRA) if you're self-employed, a sole proprietor, an independent contractor, or if you're involved in a partnership or corporation. The bonus to this plan is that you can vary the contribution percentage depending upon whether you experienced a "feast or famine" tax year. During the good years you can contribute more, during the lean years you can avoid payment totally. While this plan doesn't set a limit on minimum contributions, the maximum dollar contribution is $45,000.

This plan can be set up as late as April (or the extended due date) in the year that you file your income tax return for the previous year. This plan is fairly DIY, as you can open a SEP at your local bank, insurance agent, a mutual fund company, or even through an online brokerage firm with a form 5305-SEP [PDF]. A SEP can be opened in minutes and with little to no charge in most situations. You don't need to file annual government reports, and ongoing administrative costs are no more than those levied on traditional IRAs. If you're worried about start-up fees, you might like to know that you can deduct up to $500 per year for the first three years for those charges.

You can contribute more to your SEP than the wage earner can contribute to a traditional IRA; otherwise, the SEP IRA works just like a traditional IRA. Contributions to a SEP are tax deductible, and you don't pay taxes on the earnings on the investments. You cannot take loans from your contributions, but you can make withdrawals. If you make withdrawals without a rollover before age 59½, you will pay taxes and - at this time - a ten-percent penalty on monies withdrawn. You also must begin to withdraw a specific minimum amount from your SEP account by April 1 of the year following the year you reach age 70½. You also must withdraw an additional required minimum distribution amount by 31 December in that year and annually thereafter.

You can terminate a SEP at any time with notification to your financial institution about your intent. You can roll those funds over into another SEP IRA, to a traditional IRA, or to an employer’s qualified retirement plan - provided the other plan allows rollovers - without penalty. If you have employees who are involved in this plan, you might notify them that you intend to discontinue the plan. You do not, however, need to give notice to the IRA about your SEP termination. You can maintain a SEP and another retirement plan as well - a bonus for individuals who want as many tax-deferred options as possible, even if it's just for one year (the feast year).

Learn more about the SEP IRA through the U.S. Department of Labor, the IRS or your local or online financial institution.

Keogh Plans

If you seek the equivalent to a corporate retirement plan, you can find your answer in either a profit-sharing or defined benefit Keogh plan. Unlike a SEP, sole proprietors or partnerships must open a Keogh plan before the end of a given year. But, once you've accomplished this goal, you can wait to contribute to the plan when you file your income tax return the following year.

If you want the corporate aspect to your retirement, you'll get it with a Keogh. This plan incorporates all the costs and complexities associated with qualified plan setups, it incurs the same withdrawal penalties as a corporate pension plan, and you may encounter more paperwork than you want - including annual reports to the IRS. You will encounter the same $45,000 ceiling for contributions to a Keogh profit-sharing plan as you will with the SEP, but you can set a ceiling as high as $180,000 for a defined benefit Keogh plan. The latter option requires an actuary to calculate your contribution based upon your income, the target benefit, years until retirement, and anticipated investment returns.

Keogh setup and ongoing fees for paperwork and for professional guidance are more suited to self-employed individuals with established businesses and consistent incomes. One reason behind this limited parameter is that once you open a determined benefit contribution plan, you're locked into that contribution every year. But, Keogh plans might make an ideal rollover option for individuals who currently contribute to a SEP that no longer fulfills required retirement goals. A sit-down with a financial advisor might eliminate any guesswork about whether to go with a Keogh and whether to invest in a profit-sharing or defined benefit choice.

On the plus side, Keogh plan contributions are deducted from gross income and contributions and interest income are tax deferred until withdrawal. Additionally, certain lump sum benefits might be eligible for special 10-year averaging in some instances, a great benefit for those who experience a disproportionate "feast" year among several famine years. Additionally, if you receive an eligible rollover distribution from a Keogh plan, you can roll over all or part of the distribution, including a lump-sum distribution, into a traditional IRA.

There's little information about Keogh plans on the Web, as this option usually requires individual attention by a financial advisor. Ask your banker, insurance agent, or brokerage about solutions for your questions, and shop around to compare rates and fees before you make a decision.

Solo 401(k)

From personal experience, I can tell you that you cannot expect your local bank to know about this retirement option, known as the Solo 401(k) or the Individual 401(k). But, since this plan is gaining in popularity, you can probably teach your local banker or broker about your options. This retirement plan is geared specifically for individuals who work solo as freelancers, contractors, partnerships, or corporations, and who make inconsistent incomes. It's ideal for the freelance creative who fears socking away money for retirement, especially when that individual understands that "famine" years often outnumber "feast" years.

Before I tell you how to find this retirement plan, I want to fire you up with the benefits that Solo 401(k) plans contain for self-employed individuals. First, you can contribute up to 100% of the first $15,500 of your 2007 compensation or self-employment income ($20,500 if you'll be age 50 or older at year-end). Then, you can contribute and deduct an additional amount of up to 25% of your compensation income or 20% of your self employment income over that initial amount. These amounts mean a lot to a self-employed person on a limited budget, as you can max out a substantial tax-deferred retirement balance quickly while you cut your annual income tax bills dramatically.

One example from Smart Money shows that a sole proprietor could save $31,500 from an $80,000 income [$15,500 + (20% of $80,000)] in the Solo(k) as opposed to a "mere" $16,000 with a traditional 401K. And, if you will be over age 50 by year-end, your maximum contributions for 2007 "would be $40,500 [$20,500 + (25% x $80,000)] and $36,500 [$20,500 + (20% x $80,000)], respectively."

The Solo (k) dollar cap for 2007 equals $45,000 or $50,000 if you're over age 50. When you approach the annual $225,000 per year income, the Solo (k) begins to lose its advantage because those dollar caps will prevent you from accruing any substantial tax-deferred retirement savings out of a larger income. But, you can open another retirement plan or roll this plan over into a Keogh once you've gained footing on your retirement and business goals.

Another sweet plus to this plan is that you can contribute zero dollars during lean years. Plus, if you need money during extra-lean years in the future, you can borrow from your Solo (k). A loan is different from a withdrawal - you still must make tax payments on withdrawals outside rollovers and pay penalties for early distributions through withdrawals.

The only drawback with this plan is that it doesn't allow you to grow your business, unless you plan to hire a spouse or an immediate relative. If you plan to hire outside employees in the future, you'll need to find another retirement savings option before you go that route. On the other hand, if you plan to reduce your business you can reduce administrative costs in your retirement plans as well. Money from tax-deferred retirement plans such as traditional IRAs, SEP, 401(k), SIMPLE IRAs, and Keogh plans can be consolidated in a Solo 401(k).

Finally, despite the fact that this option seems simple enough to be a DIY operation, you'll need to contact a brokerage or bank to set up the Solo (k). Setup fees run anywhere from $150-$300 depending upon the services you purchase, and annual fees may apply as well. But, if you can handle the paperwork for simple investments, you can cut that annual cost greatly.

Take a look at this Solo 401(k) vendor list to see if you can recognize your bank or brokerage firm. If you don't recognize any businesses listed here, you still have a little time to call around. While you must establish your plan by 31 December this year if you want to claim a 2007 tax deduction, you can make contributions as late as the date you file your taxes in 2008.

Roth and Spousal IRAs

If you're a normal red-blooded tax-paying American, you want to find as many tax breaks as possible. Now that you've decided upon a SEP, a Keogh, or a Solo 401(k), you can add to your retirement funds with a Roth IRA or a Spouse Deductible IRA.

While tax contributions to the Roth IRA aren't deductible, your earnings are tax-free. When you're ready to take out your money, you don't owe the IRS a penny. Contributions up to $4,000 are allowed for 2007 ($8,000 for couples), subject to phaseout between adjusted gross incomes of $99,000 and $114,000 for singles and $156,000 and $166,000 for joint filers. The same relative thresholds apply even if you maintain a SEP, 401(k) or Keogh, and even if your spouse is covered by a self-employment or work-related retirement plan. So contribute as much as you can to your SEP, Solo, or Keogh, and then boot another lump sum into a Roth for maximum tax benefits for now and later.

The spousal deductible plan is your last resort, but one that may benefit if your spouse contributes to a retirement plan at work but you don't. You can contribute $4,000 for 2007, $5,000 if you're over age 50 by year-end to a spousal deductible IRA as long as your joint adjusted gross income is below $156,000. The Roth may look good to you after you consider this option, as you have more control over your funds with the Roth.

What to do if your business grows?

If you hire employees now or if you plan to hire them in the future, a SEP, Solo, or Keogh must be used to cover them. This means that you'll need to make contributions that don't benefit you, but that benefit your investments in your business. While the IRS information about SEP is fairly straightforward about how to handle this plan, you'll probably need financial advice to learn how to cover your employees' retirements with a Keogh or Solo 401(k). As I mentioned previously, the Solo plan is strict about hiring and covering employees. Furthermore, tax guidelines may require you to pay money for employees before you pay yourself with the Keogh.

Look for help in the form of a tax benefits professional before you contribute any money into any retirement plan for your employees. You might discover other options that will benefit everyone concerned. But, before you plan for a long sit-down with a financial expert, read through IRS materials for the self-employed individual. Even if you don't understand everything listed within this IRS section, you can build a list of questions that can be answered during your financial planning session.

Finally, learn how to use your income and your loans or credit lines wisely. The IRS draws definite lines between business and personal deductions, so you may end up spending more in one camp and not enough in the other before the year ends. Small details can make a big difference in how much you pay Uncle Sam, especially when your income straddles a tax bracket.

Use Advisor Now to find a financial advisor near you, or pick up your phone book and call around to find someone who seems knowledgeable about your needs and goals. Some advisors don't charge for an initial visit, and other advisors may offer all the tools you need to save money on your taxes and for your retirement. Shop around, be selective, and find someone you feel comfortable with, as this person could become a business 'partner' as your business grows.