While most of us are struggling to save money, and pay for gas, there are many Americans that have nothing to worry about.

Bill Gates has reclaimed the top spot with a net worth of $57 billion dollars. Gates lost his title to Warren Buffett for a few months in spring 2008. Buffett’s shares in Berkshire Hathaway have fallen and landed him in a close second at $50 billion.

Here is a run down of the list:
1 - William Gates III
2 - Warren Buffett
3 - Lawrence Ellison
4 - Jim Walton
5 - S Robson Walton
6 - Alice Walton
7 - Christy Walton & Family
8 - Michael Bloomberg
9 - Charles Koch
10 - David Koch
11 - Michael Dell
12 - Paul Allen
13 - Sergey Brin
14 - Larry Page
15 - Sheldon Adelson
16 - Steven Ballmer
17 - Abigail Johnson
18 - Jack Taylor & Family
19 - Anne Cox Chambers
20 - Donald Bren

Sources:
Forbes - The Forbes 400
Yahoo - The Forbes 400 Richest Americans
Photo - ©AP Photo/Las Vegas News Bureau, Bob Brye

Popularity: 8% [?]

There is a nice article on about.com called Down Markets Good for Many Investors, talking about how a down market can be a good thing for your young 401k.

Being a young professional, you have many years ahead before retirement. This gives our 401k’s and other mutual fund investments plenty of time to turn around. The down market is actually a great time to buy shares at a bargain price which is one of the most basic investing strategies, buy low and sell high. With time and history on your side, chances are the market will go way up from today.

Here is an excerpt from the Article:

Taking the average is nice, but lets put some money on the line. If we put $1,000 per quarter into each scenario, here’s what happens:

Steady Growth
Shares Owned: 1,655
Portfolio Value: $73,544

Down Market With Recovery
Shares Owned: 2,427
Portfolio Value: $107,809

If you would like to see the full study, click here.

Popularity: 11% [?]

link

You can get more detail on each lesson if you follow the link.

LESSON 1
Setting priorities
Here’s help for the first — and often the hardest — step in achieving your financial goals: deciding which goals to pursue.

LESSON 2
Making a budget
How to bring your spending under control, so that you get the most out of every dollar.

LESSON 3
Basics of banking and saving
Here’s how to get the best banking services at the best price, either online or off.

LESSON 4
Basics of investing
An introduction to making money in stocks, bonds and mutual funds.

LESSON 5
Investing in stocks
The market can be a great place to turn savings into wealth — or to lose your shirt. Here are some fundamentals of investing wisely.

LESSON 6
Investing in mutual funds
It’s a mutual-fund jungle out there. Here’s how to create a simple portfolio that works.

LESSON 7
Investing in bonds
Bonds can provide a steady and reasonably secure income, while adding ballast to your portfolio–but only if you really understand what you’re buying.

LESSON 8
Buying a home
Owning your home is part of the American Dream, but if you’re not prepared, buying it can be a nightmare. Here are some fundamentals for buyers and sellers.

LESSON 9
Controlling debt
You’ve got to know when to hold debt–and when to fold it. This lesson shows you how to accomplish your financial goals by making debt work for you.

LESSON 10
Employee stock options
More companies are handing out stock options, and to a much broader group of employees. This lesson gives you vital information on how to handle ESO’s.

LESSON 11
Saving for college
It’s not rocket science, just common sense. By starting early and investing regularly, your children may have a wider choice of colleges, and paying the bill won’t hurt as much.

LESSON 12
Kids and money
Up until they start earning a living, and sometimes well beyond that, kids are apt to spend money like it grows on trees. This lesson will help you put your children on the road to handling money responsibly.

LESSON 13
Planning for retirement
Achieving a comfortable retirement in the 21st Century requires a new approach to retirement planning.

LESSON 14
Asset allocation
The single most important thing an investor can do is practice asset allocation. Here’s how.

LESSON 15
Hiring financial help
What to keep in mind when when seeking professionals to handle your financial planning, stock trading, insurance coverage and tax returns.

LESSON 16
Health insurance
Whether your employer provides you with a group medical plan or you need to buy coverage on the individual market, understanding how health insurance works is the best way to get your money’s worth.

LESSON 17
Buying a car
Buying a car is like no other shopping experience. The choices seem to be endless. This lesson helps you sort through your options.

LESSON 18
Taxes
Among the long list of necessary evils we must encounter throughout our lives, perhaps the most constant — taxes — is also the least understood. But the whole process isn’t nearly as baffling as you may think.

LESSON 19
Home insurance
Homeowners’ insurance can be a nightmare. It’s costly, confusing, and unrewarding — until you have to use it. Here, you’ll learn how to purchase peace of mind now and later.

LESSON 20
Life insurance
Life insurance is critical to financial planning. It’s a necessity for anyone with dependents who would be affected financially by your demise. Yet life insurance is one of the hardest financial products to understand and it’s sold by agents who are sometimes more concerned with their commissions than your needs. This Money 101 lesson is all about a better way to buy life insurance.

LESSON 21
Estate planning
Americans are in the midst of one of greatest inter-generational transfers of wealth in history, yet few of us have done any planning for it. Here’s how to start.

LESSON 22
Auto insurance
Auto insurance can be a nightmare. It’s costly, confusing, and unrewarding — until you need it. Here’s how to purchase peace of mind now and later.

LESSON 23
401(k)s
It’s the most important tool you’ve got for retirement. Here’s how to make the most of it.

Popularity: 13% [?]

Depending on which broker you guys use one of the benefits that the broker may provide is some educational tools that can help you learn how to invest. I have recently found some that e*trade offers to its clients and more importantly they are all free. Most of these are online although some of these are in specific locations.

Trading Seminars

5/22/08 12:00 pm - 1:00 pm ET Will the Dollar Rally in 2008? PHLX Online
5/29/08 12:00 pm - 1:00 pm ET How to Manage Risk with Conditional Orders Online
6/05/08 9:00 am - 11:00 am ET E*TRADE Trading Education Day Webcast Online
6/05/08 8:00 pm - 3:45 pm ET E*TRADE Trading Education Day New York, NY
6/12/08 12:00 pm - 1:00 pm ET What You Need to Know About Technical Analysis Online
6/19/08 7:45 pm - 5:00 pm PT Building Your Trading Strategy Online
6/26/08 12:00 pm - 1:00 pm ET Options Trading for Beginners Online

Investing Seminars

14-May-08 6:15 Local Time Intro to Structured Products Scottsdale Branch
21-May-08 12:15 Local Time International Investing Brentwood
21-May-08 1:15 Local Time Intro to Structured Products Brentwood
21-May-08 5:15 Local Time Road to Retirement King Of Prussia Branch
21-May-08 6:15 Local Time Intro to Structured Products King Of Prussia Branch
21-May-08 5:15 Local Time Achieving Financial Success La Jolla Branch
21-May-08 6:15 Local Time Intro to Structured Products La Jolla Branch
21-May-08 5:15 Local Time Fixed Income Basics Roseville Branch
21-May-08 6:15 Local Time Intro to Structured Products Roseville Branch
28-May-08 5:15 Local Time Intro to Structured Products Fort Lauderdale
28-May-08 6:15 Local Time Intro to Structured Products Fort Lauderdale
4-Jun-08 5:15 Local Time Intro to Structured Products Palo Alto Branch
11-Jun-08 6:15 Local Time Intro to Structured Products Scottsdale Branch
18-Jun-08 5:15 Local Time Achieving Financial Success La Jolla Branch
18-Jun-08 6:15 Local Time Intro to Structured Products La Jolla Branch
18-Jun-08 5:15 Local Time Road to Retirement Roseville Branch
18-Jun-08 6:15 Local Time Online Tool Demo Roseville Branch
25-Jun-08 5:15 Local Time Achieving Financial Success Scottsdale
25-Jun-08 6:15 Local Time Intro to Structured Products Scottsdale Branch

Link to for people who are interested https://us.etrade.com/e/t/adviceeducation/onlinewebinarsinvesting

On a related note there is an excellent investment conference that is coming up soon in NY. It’s an expensive conference but the speakers are excellent every year. I was there last year and will probably attend it this year as well.

Barron’s “The Art of Successful Investing Conference” http://www.barronsmag.com/conferences/aosi/index.html

Ed Finn, president and editor of Barron’s, will interview a “Who’s Who” list of top-flight market experts. Below are our 2008 speakers:

Scott Black
Ron Baron
Abby Joseph Cohen
Marc Faber
Kyle Rosen
Edwin Finn
Oscar Schafer
Paul Wick
Meryl Witmer
Felix Zulauf

Popularity: 11% [?]

If you don’t know what an REIT is check out my earlier post on REIT’s.

A good article on REIT performance in the last year in WSJ
REITs

REITs took a beating last year primarily due to the under performance during the credit crunch, but they are making their way back now.

“The average real-estate fund, which lost more than 14% on average in 2007, is up nearly 5.6% this year through May 12, which makes it the second-best performing U.S. stock fund group this year, behind the hot natural-resources funds category, according to Chicago investment-research firm Morningstar Inc. That’s an impressive showing when one considers that the Standard & Poor’s 500-stock index total return has slipped 3.7% in the period, according to Morningstar.”

It maybe worth taking a look at some REIT investments again, buy low and sell high philosophy here.

Popularity: 13% [?]

I recently signed up for a Brokerage account. I went with Charles Schwab because the brokerage account came free with the Interest Checking account. The good thing about signing up for both together, they wive the minimum balance of $1000 and/or the $100 monthly direct deposit to the brokerage account.

So far I have been very impressed with the service. Calling to setup my moneyLink at 7am, a customer service rep picked up the phone immediately and my account was setup in a few minutes. The online portal is very easy to use, and well organized. Although I don’t have any basis, their layout is very simple. I would assume that most online brokers also have a very nice, easy to use layout.

If you are interested in opening an account, check out this chart of online broker comparisons. The data is in Scottrade’s favor because the chart is from their website. You will have to go to each of the brokers sites to get all the data. The chart is a good starting point though.

I would love to hear what other people are using and what their opinions are.

Popularity: 16% [?]

Yes, Congress and the President want you to spend the money within hours of receiving the check in order to boost the economy. Which might help in the short term but it is not the best use of this money.

So what is the best use of this money?

Pay down your debt

Have you heard about the mortgage crisis? Yes, this is because of out of control debt. The root of the problem lies within the large debt that Americans carry. The reason we are not able to spend extra money is because of high interest rate debt.

Pay off your current debt before tacking on new debt on a $600 shopping spree. If you spent that money, at the end of the day, are you out of debt? All your problems go away after that money? Pay off those high interest loans first!

Save it!

Put the money in your savings account and let it grow. Boost your emergency funds. The government is borrowing this money and it is only a temporary fix. Putting the money in the banks hands, as with paying down debt, will allow banks to loan more money. This helps out the National problem with debt. It’s ok you can get a 20″ Flat screen TV later.

“Short term solution is to spend your rebate check, wise solution is to save it because it is borrowed money and thus costs you more than you get. Paying down credit card debt (or any debt for that matter) is the equivalent of saving.” - Gabadoo

“If you are going to buy, buy American.”

Mushy wrote a funny post about where the money is going when you buy foreign products. Here is a quote:

If we spend that money at Wal-Mart, all the money will go to China.

If we spend it on gasoline it will go to the Arabs.

If we purchase a computer it will go to India.

How are you going to spend your money?

Sources:
America, don’t blow this rebate
Best uses for your tax rebate
HOW TO BEST USE YOUR IRS REBATE CHECK

*Update* - After writing this article I came across another similar article written today, by a Senior Editor for Money magazine. Walter Updegrave writes Make the most of your stimulus check

Popularity: 20% [?]

The tax deadline is closing in. It’s less than a week away. How many people are waiting until April 15th to do their taxes? Check out Turbo Tax or H&R Block online if you are a procrastinator.

Sergey wrote a post with links for all type of Tax Tips. Check these out before you start to file your taxes. If you have waited until now to do your taxes you will probably get your rebate around the same time as the Rebate Check from the government. Check the schedule to see when you will receive yours. One of the qualifications to receive the rebate is filing your taxes by April 15th, so get on that. For those of you who have filed your taxes already, good job not waiting until the last minute. I hope you did something good with your returns.

April 15th is also the deadline for making 2007 contributions to your IRA’s. This would be a good time to check your IRA’s and max out your contrubution for 2007 if you can. Since this is the ending of 2007 contributions, it’s the perfect time to open an IRA if you don’t have one. This way you can plan out a full year of contributions that will end next April. Remember Traditional IRA contributions are tax deductable, and Roth IRA contributions are deductable in your state return. (MA it is)

Over the next couple of days I am going to make my last contributions to my IRA for 2007. I am just waiting to pick a good day where my share prices are lower. Good luck with your taxes and any last minute IRA contributions!

Photo by: 1Flatworld

Popularity: 10% [?]

Before you receive your rebate check, find out: What is the best use of your IRS Rebate Check

Economic stimulus payments will be issued according to the last two-digits of the main filer’s Social Security number. People who use direct deposit also will be among the first to receive the payments starting May 2. Paper checks will be put in the mail starting May 16.

DIRECT DEPOSIT

PAPER CHECK

People who file a return after April 15 will receive their economic stimulus payment, but probably about two weeks later than the schedule shows. A return must be filed by October 15 in order to receive a stimulus payment this year. See the online calculator for an estimate of the amount you will receive.

Source: IRS.gov

Popularity: 91% [?]

3 weeks - Immediate funds:

You want to plan out your funds for the next 3 weeks. You have bills coming up, credit card payments. Take time to schedule them in advance so you do not endure any finance charges for missed or late payments. Check often because the more credit cards and bills you have the more due dates and chances of fouling up your credit score there are. Most people get a pay check at least every two to three weeks. Calculate just the right amount of money to keep in your checking account and put the rest into a savings account or MMA.

3 months - Emergency funds:

If you were to lose your job today would you be ok? Are you living paycheck to pay check? You should be thinking about protecting your income. You should have your monthly bills and spending for 3 months in a liquid savings/mma account. You should have something like this if you were to lose your job on need money for any emergency’s that come up. Often at our age we have car repairs or something that comes up that we cannot account for. So it’s important to have enough money saved up for this type of situation. The typical amount to have in this fund is your monthly bills x 3. This way you will have 3 months of bills you can pay off if something were to happen like loss of job or unexpected payments.

3 years - Mid-term goal funds:

Typical for young professionals is to have short-term to mid-term goals. My goal is to buy a house in the next few of years. This could also be money for a new car, boat, or wedding; whatever you want to buy with your savings in a large chunk. This fund should also be in a liquid savings/MMA. It is not worth the risk putting this money into the market for a slightly higher return. Figure out how much you want to have in this account 3 years out then realistically put what you can each month to reach this goal.

30 years - Retirement funds:

It’s never too early to think about your retirement fund. It will benefit you in the long term by starting early. Most companies have a 401k retirement plan which they encourage you to participate in by offering a match. When you contribute a percentage of your salary pre-tax to your 401k your company will match your contribution up to a predetermined percent. My company’s 401k plan is a 50% match if I put in 6% of my income. It’s a good idea to put in up to your company’s match if possible. They are giving you FREE money! I am putting in 6% of my income, and my company puts in 3% each contribution. If you can’t afford to put in up to what your company matches try to put in even 1%. Your company will still make a contribution towards your retirement.

A Roth IRA is also a good thing to start for your retirement. You may contribute up to 5000 dollars a year to this account -after taxes. Contributions to this account are made with after taxed income and the money will grow tax-free. You will be able to take out this money at 65 1/5 without paying taxes on it. Unlike a 401k were you will pay taxes when you cash out.

Popularity: 13% [?]