March 5, 2010

Best of blog posts for week of March 5th

The Christian Science monitor wrote Who's poor in America? US tweaks how it defines poverty.
About how the government is going to adjust how poverty level is figured.  It should be more accurate and at the same time increase the number of people who are in poverty.  Click.  Now you're poor.

MoneySmartLife compares exempt and non-exempt work with Overtime Exempt Employee vs Non-Exempt Employee.

Darwin's Finance talks about  401K Loan Rules – Taxes, Interest, Pros and Cons and he points out that there is no "double taxation" on 401k loans.   A great explanation of 401k Loan Double Taxation Myth from The Finance Buff.

A story I heard about via Yahoo: Amazing Grace: Lake Forest secret millionaire donates fortune to college
A nice success story for buy-and-hold investing with dividend reinvestment.  She paid $180 for 3 shares of  "special" stock that 75 years later it was worth $7 million.   Thats about a 15% compound annual growth rate.   Not bad.  Wish I could have bought "special shares" of Abbot Laboratories (ABT) 75 years ago and held on to it for the past 75 years.

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