Personal Finance Roundup

10 Things 401(k) Providers Won’t Tell You [Smart Money] “#1. We’re making money on your 401(k) — even if you’re not.”

10 common car-buying mistakes [MSN Money] “Before you step foot in a dealership, arm yourself with these tips. If you don’t, you could be taken for a ride.”

One in five older Americans a victim of financial fraud: survey [MarketWatch] “More than 7.3 million older Americans — one out of every five citizens over the age of 65 — already have been victimized by a financial swindle.”

How Not to Buy Too Much [Wise Bread] “You need to learn financial balance — spending wisely most of the time and treating yourself to the occasional Ferrari.”

Your Vacation-Home Checklist [Kiplinger] “These nine tips can help buyers keep expenses under control.”

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  1. akiri423 says:

    For the car-buying article…

    There’s not much sense waiting to buy a car until November or December – just like with Christmas Creep, the new model year creep happens similarly. We’ve been selling 2011 Hyundai Sonatas for months – so waiting to buy a 2010 until the end of the actual calendar year 2010 isn’t feasible, since those cars don’t exist on our lots and are really now “used” cars to us. Also, the article implies that a car dealership’s inventory is “new” at the beginning of the year. Um, it’s not like an ENORMOUS transport truck shows up on Jan. 1 and gives us all the inventory for the year. The lame ad line “new inventory arriving daily” isn’t quite true – but weekly, yes.

    You will get the best deal on a vehicle that’s been in inventory the longest, though, so find that one. Dealerships often use simple numbering systems to keep track of which vehicle is which – find the oldest stock number and I almost guarantee that you’ll get a better deal on that one.

  2. PunditGuy says:

    One common car-buying mistake they missed is that you need to remember you’re not buying a monthly payment. Always negotiate the price of the car; never negotiate the size of your monthly payment.

  3. Thorzdad says:

    Re: One in five older Americans a victim of financial fraud…I don’t find that one surprising in the least. It’s scary just how much junk mail my own Mom gets, a ton of it cleverly disguised as “official” notices, bills, statements, etc. etc. As older people’s facilities start to fade, it becomes harder for them to recognize the scams from the legit communications. Add to that the fact that a lot of the “scams” are coming from their very own banks, credit cards, etc., trying to confuse them into signing up for one useless program or another. We try to monitor Mom’s mail as best we can, and the sophistication of some of these things is pretty impressive, and scary. They know exactly who they are targeting and how to get to them.