Friday Finance Findings for July 6th

I apologize this is a day late, it has been a crazy week with the Independence Day holiday and trying to prepare for my trip to New York on Sunday. I was hoping it would turn out to be a more leisurely trip but unfortunately it looks like it will be all business and no pleasure. So while I finish packing you can check out some of the great articles from the past week, and stay tuned this coming week for some great guest authors as well.

Are Employers Doing Enough to Promote Retirement Plans? – This one caught my eye since this is exactly what I do for a living. Generally speaking, no employers don’t do enough to promote the plans. Promotion usually comes from the plan provider, not the HR department. I think this highlights a deficiency in the system that needs to be addressed.

Borrowing One’s Way to Prosperity Doesn’t Work – This is another one that grabbed my attention from another article that highlighted a family that is facing losing their home, yet they are whining when they talk about all of the fancy things they have and money they put into the house all while having income that may be unstable. Of course, it is the lender’s fault, not the homeowners who were continuing to borrow money to satisfy their needs.

Alternative Income: Residual Streams – The most successful people and companies in the world rely on multiple streams of income to achieve success. Most people don’t become incredibly wealthy by working the same 9 to 5 job for 40 years. While not all of these alternative streams of income may be for you, the concept is sound.

A Dollar Amount Cannot be an End Goal – Believe it or not, there is more to life than money. While it is nice to set monetary goals there are deeper reasons for why we set these goals.

Name Discrimination – We have all heard stories about various types of discrimination, but discrimination based on a person’s name? You bet! The Silicon Valley Blogger goes over a study that has shown how certain names are perceived and what it can mean for your career and your life. Some food for thought before you name your new child something trendy and hip by making something up just because it sounds cool.

Making the Case for Alternative Investments – Sure, you can’t argue the fact that putting together a basic portfolio with an index fund or two will provide solid long-term results, but the investment world is so large you are doing a disservice to portfolio if you don’t venture into some further reaching investments. The Sun highlights how just adding a few small alternative investments can have a large impact on overall returns.

Bill Me Later – Sounds good, right? Wrong! If you choose this option at any of the various online shopping sites you are effectively opening up a revolving line of credit. Nickel breaks down the details on what this means for consumers.

6 Steps That Will Get You a Raise – Who doesn’t want a raise? Well, if you’re working on getting a raise yourself Free Money Finance has six tips that can make this process even easier.

Only Rich People Use Olive Oil – This was quite amusing and the people in this story seem to be quite proud of the fact that they waste money. Using olive oil for all of your cooking needs is like using a Filet Mingon for all of your beef needs, like making hamburger or beef stew. It is more foolish than anything.

Sell in May and Go Away – Sometimes this isn’t a bad idea. Jim explains this old Wall Street adage and the reasoning behind it.

Our Debt is Under $20,000! – Congratulations to Tricia for reaching this milestone recently. It is great to see others making great progress towards their goals.