Kevin Mulligan

It certainly was an interesting week in the news. 

First, you have a cruise ship lose all power and drift for a while in the Gulf of Mexico before two tug boats could slowly pull it back to safety.  Passengers slept on the deck of the ship, had no working toilets, and food started to get low.

Then you have a meteor unexpectedly exploding in the air over Russia with the equivalent power of 20 Hiroshima-sized nuclear weapons.

Lastly, you have an aspiring electric car maker sparring with the New York Times’ reporting of its vehicle.

But a piece of news that you might have missed, but is likely more important to you personally: The National Foundation for Credit Counseling launched a Spanish version of its online tool called MyMoneyCheckUp.  The tool aims to help consumers evaluate different areas of the personal financial lives such as planning for retirement, saving money, budgeting, and credit management.

You input some data about yourself and your habits, and the tool gives you a report of things you should keep doing as well as serious risks you are currently taking.

Tracking all four of the above money topics is critical in life. Here are some reads to guide you in some of them:

[Read more…] about Exploding Meteors, Electric Car Problems, Ruined Cruises and Links

The Dow Jones Industrial Average closed above 14,000 this week.

This achievement was a big milestone for the bull market, yet no one seems to be celebrating too much.  Some traders think the market will begin to cool off while others think the government will work with the Federal Reserve to continue pushing the economy and markets up.

For all the talk of the Great Recession, the Lost Decade of 2000 to 2010, and so forth the markets have done surprising well.  The S&P 500 is up 37%, the Dow Jones is up 36%, and the Nasdaq is up 44% since the beginning of January 2010.

If you had funds invested in the market through a low cost index fund, you’ve probably done well.  And that’s not even taking into consideration dollar cost averaging your investments into the market which would catch some of the lows along the way and drive your returns even higher.

Will the bull market continue?  No one really knows and making drastic portfolio changes based on your gut is unwise.

Focus on what you can control with these articles:

[Read more…] about Dow Crosses 14,000 and Links

The cost of stamps will rise to 46 cents per stamp on Sunday. 

The US Postal Service is in dire shape; the organization nearly defaulted on payments it is required to make twice last year.  A decline in demand for sending items through the postal service combined with rising healthcare and pension costs has put extreme pressure on the Postal Service.

When is the last time you sent a letter to someone?

Aside from occasional bill payment or sending a birthday card, my use of postal services has dropped significantly.  What will the USPS do as demand continues to drop?  Only time will tell.

When things change financially you have to take action. Don’t wait for a Congressional bailout like the USPS. Take action with these articles:

[Read more…] about Stamp Prices Increase and Links