Here’s a quick round-up of some of the posts that caught my attention over the past week, from the MoneyBlogNetwork and beyond.
Blueprint for Financial Prosperity describes the difference between loan deferment and forebearance. AllFinancialMatters warns us of foreclosure scams. FreeMoneyFinance points out five 401(k) mistakes to avoid.
Mighty Bargain Hunter says coin collecting is useless for preserving wealth. FiveCentNickel wonders about establishing credit with a new taxpayer identification number.
Generation X Finance has 12 mistakes to avoid with your retirement plan. MyMoneyBlog has a review of ING Direct’s “Electric Orange” paperless checking account.
My weekend update: I spent the weekend helping my girlfriend ready her apartment for the holidays. In a few minutes, I’ll be meeting a former co-worker and a business partner of his to help them develop a new website.
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Two comments:
1) As I understand it, using a new taxpayer identification number to apply for credit constitutes fraud. DON’T EVEN THINK OF TRYING.
2) I collected coins as a kid (that was so long ago that silver still circulated freely, along with numerous coins of collector value), and I’ve keep up with the hobby over the years. I even (for all my claimed penury) have several hundred dollars’ worth (NOT face value unfortunately) of US silver “junk” coins for bullion value. The rare coin market is highly cyclical as it gets hyped in inflationary times. I believe that there are opportunities for a knowledgable person to enjoy modest returns in this area, but unless you’re already knowledgable about coins, it’s not worth any effort or expense beyond a hobby.
Terry: It’s not fraud if you have your own business with income. Anyone can get taxpayer identification numbers for business purposes. There are legitimate reasons to obtain TINs, otherwise the IRS wouldn’t even offer the service.