Wacky Video and Thanks, Week Ending 10 August 2013

Aug 11, 2013 by

selecting a wacky video

Selecting a wacky video

This video is probably longer than you have patience for, but it is money related. Remember Beanie Babies? Here’s the story of a family forced into bankruptcy due to the father’s enthusiastic “investment” in Beanie Babies. I often encourage Money Counselor readers to seek alternative investments to stocks, but whoa—not too alternative, okay?

Please send me your nominations for the week’s Wacky Video. I’ll give you credit here if I include your pick.

Thank You!

Due to a variety of excuses that mask the simple fact that I’M LAZY, I’m way behind on the thank you’s for Money Counselor mentions on the web. To get caught up:

  • Grayson at Debt Roundup took time out from a very busy weekend to name my popular post on how best to buy a car—”Car Loan or Pay Cash?“—as a Top Personal Finance Article a few weeks back in his Weekly Personal Finance Digest.
  • I discovered a cool blog called Eco Fashion because Alana hosted Edition 63 of the Lifestyle Carnival and included my review of Pulse TV, the retailer of “as seen on TV” and many other enticing products. I plan to do all of my holiday shopping on Pulse TV!
  • In a major coup, I got TWO fist pumps over the past few weeks from Travis over at Enemy of Debt. The first came for my article “Who Checks Your Credit Score?“—prompted by a report I saw that 42% of consumers didn’t know that mortgage lenders check credit scores—and my recent “How Much Savings is Enough?” merited a second pump from Travis. Thanks buddy! And I hope the Minnesota summer is treating you well!
  • Alexis’ blog FITnancials aims to meld her two passions: fitness and finances. She also liked “Who Checks Your Credit Score?“, so she included it in the August 03 Financial Carnival for Young Adults, hosted at FITnancials.
  • Travis wasn’t the only one who liked “How Much Savings is Enough?” The article has drawn lots of traffic (well, lots in my world 🙂 ). Jon at Money Smart Guides mentioned the article in his August 2nd Round Table, and Derek at Life and My Finances liked the post well enough to mention it in his Weekly Round-up list. The article includes a couple of graphs that make it easy for you to project how long your nest egg will last once you start pulling money out to pay living expenses
  • The 81st Edition of the Carnival of Retirement was hosted at Midlife Finance. My “Baby Boomer Retirement Panic?” made the “Editor’s Choice” list! Thanks Editor! (Is that you Joe?)

Thanks friends for spreading the Money Counselor word!

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  • Really whacky video, the guy invested $100K for beanie babies and as highlighted the college education was just $52K which was his sole purpose of investment to fund his kids college fees. It would have make sense to invest in anything else like stocks or real estate which would be of some value. Even if he hadn’t invested that much and if he could have save atleast 50% of money it would have covered college fees. CRAZZZY !!!!!!

    • People into collectibles can be dangerous–to themselves and others! I remember my Mom relating stories of physical violence when she got into the Cabbage Patch Kids frenzy. Unfortunately for some–like the family in the video–these fads tend to burn out just as quickly as the ignite, leaving many holding the bag, or the Beanie Baby in this case. 🙂

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