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======================== THE MOTLEY FOOL ======================== PERSONAL FINANCE Wednesday, October 24, 2001 rshapiro@enron.com ================================================================= IN THIS ISSUE - ASK THE FOOL: Buy Now? http://www.fool.com/m.asp?i=525143 - RETIREMENT: Ten IRA Myths http://www.fool.com/m.asp?i=525144 - YOUR MONEY: Keeping Calm About Your Finances http://www.fool.com/m.asp?i=525145 - LBYM Tip of the Week: Nine Ways to Save Money http://www.fool.com/m.asp?i=525146 ================================================================= SPONSORED BY: ShareBuilder Buy stocks for just $3! Make dollar-based investments in the stocks and index shares you choose for just $3 per transaction. Or, pay $8 per month for unlimited stock buys. http://www.lnksrv.com/m.asp?i=525147 ================================================================= ASK THE FOOL That's the question on everyone's mind. We fear prices will keep right on dropping, or stagnate for years. So what should you do? Sell low and move your money into nice, safe bonds? That's been a popular choice lately. But there will be a turnaround. Probably several turnarounds, accompanied by reversals -- all of which will be unexpected by most folks. Full Answer: http://www.fool.com/m.asp?i=525148 ----------------------------------------------------------------- RETIREMENT TEN IRA MYTHS IRAs have been around since 1974. Nevertheless, more than a quarter-century later, they continue to be misunderstood. To avoid needless administrative aggravation, adverse income tax impacts, and a loss in savings power, make sure you don't fall into the trap of these IRA fictions. Full Story: http://www.fool.com/m.asp?i=525149 ----------------------------------------------------------------- YOUR MONEY KEEPING CALM ABOUT YOUR FINANCES In this time of fear and uncertainty, it's only natural to think about how your financial security will be affected by recent events. You may be nervous about losing money on your investments or even keeping your job. Here's some advice to help you negotiate this difficult time. -Don't make any snap decisions. Remember that non-financial events, however tragic or devastating, historically have only a short-term effect on the financial markets. Don't panic and sell your stocks on the basis of recent events. In fact, it may even be time to buy. Before you make any big money moves, check out this collection of articles to help you regain your long-term perspective. http://www.fool.com/m.asp?i=525150 -Bulk up your emergency savings. If you or your spouse were laid off, would you have enough cash to live on for three to six months? That's the usual yardstick for an emergency savings fund, but you may want to adjust that figure up or down depending on your responsibilities. Once you've settled on a figure, start socking your money away somewhere it'll earn interest, like a money market fund or a certificate of deposit. You'll find more information in our Where to Stash Your Cash Crash Course. http://www.lnksrv.com/m.asp?i=525151 -Make sure you have enough insurance. We're not trying to worry you -- there's no reason to run out and buy all kinds of extra coverage. We're just suggesting that since most of us procrastinate when it comes to buying insurance, now's a good time to give yourself a checkup. And it can't hurt to look over your will and health care coverage while you're at it. Our Crash Course on Disaster-Proofing Your Finances is one good way to sort out these questions. In less than an hour, we'll help you work out how much insurance you need and walk you through the legal paperwork that every family should have. http://www.lnksrv.com/m.asp?i=525152 We know that money isn't the first thing on your mind these days, but we hope that these tips can help you sort out some of the confusion and make you feel a little more secure. ----------------------------------------------------------------- LIVING BELOW YOUR MEANS - TIP OF THE WEEK NINE WAYS TO SAVE MONEY If you're new to the whole Living Below Your Means (LBYM) thing -- or if you've been a little loose with your wallet lately -- here are nine tips worth printing out and taping to the fridge: 1. LIVE WITHIN YOUR MEANS. A tried-and-true method that is often forgotten: Buy only what you can afford, and wait until you have the money. Avoid debt unless you can pay it promptly. Always save some for a rainy day. 2. TAKE CARE OF WHAT YOU OWN. Preventive maintenance saves money in the long run by adding life and value to goods that you already own. 3. WEAR IT OUT. When you're about to buy something, ask, "Do I have one of these that is still in usable condition?" 4. ANTICIPATE YOUR NEEDS. Forethought gives you the lead time to wait for items you need to go on sale. And if you know your needs, you're less likely to fool yourself into impulse buying. 5. LOOK FOR VALUE, QUALITY, AND DURABILITY. Decide what features are most important and comparison shop for the best. Don't just buy the cheapest item available. Quality items will last longer. 6. TRY NOT SHOPPING. Consumption isn't the cheapest way to socialize or remedy a bad mood. Try to shop only for necessities and fulfill your other needs with less costly and more rewarding activities. 7. GET IT FOR LESS. To get a bargain, shop at discount stores, order through catalogs, phone around for the best prices, and try to haggle -- sometimes prices are not set in stone. 8. BUY IT USED. Thrift stores and consignment shops are fashionable and affordable outlets for quality goods. If you truly enjoy bargain hunting, garage sales and flea markets can offer hours of fun and finds. 9. DO IT YOURSELF. Can you tune your car? Sew a hem? When you're about to hire an expert, ask yourself: Can I do this myself? What would it take to learn? You can gain skills and reduce your bills. ================================================================= SPONSORED BY: ShareBuilder Buy stocks for just $3! Make dollar-based investments in the stocks and index shares you choose for just $3 per transaction. Or, pay $8 per month for unlimited stock buys. http://www.lnksrv.com/m.asp?i=525153 ================================================================= My Portfolio: http://www.fool.com/m.asp?i=525154 My Discussion Boards: http://www.fool.com/m.asp?i=525155 WANNA TAKE THE SHORTCUT? Check out our new Crash Courses, the fastest way to get your finances in order. Get results in less than an hour, for just $10. Try one today! http://www.fool.com/m.asp?i=525156 PERKS FOR FOOLS ONLY Get free stuff and special offers, just for you! http://www.fool.com/m.asp?i=525157 CUSTOMER SERVICE Ask our staff for help with email delivery problems. http://www.fool.com/m.asp?i=525158 UNSUBSCRIBE Here's how to unsubscribe or change your settings. http://www.fool.com/community/freemail/freemaillogin.asp?email=rshapiro@enron.com _____________________________________________________ Copyright © 1995-2001 The Motley Fool. All rights reserved. Legal Information: http://www.fool.com/m.asp?i=525159 MsgId: msg-13224-2001-10-24_12-33-22-4520251_25_Plain_MessageAddress.msg-12:34:12(10-24-2001) X-Version: mailer-sender-master,v 1.84 X-Version: mailer-sender-daemon,v 1.84 Message-Recipient: rshapiro@enron.com
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