Do You Need a Financial Planner or Financial Advisor?

On the Finance Gourmet website, the first part of our latest article has been posted. It covers that tough topic of whether or not you need a financial advisor or financial planner. It is unbiased, and subsequent sections will give you all the details you never got so you won’t have to ask the question again.

Want the one question quiz?

1) What are you doing right now to protect your retirement portfolio from the coming recession, and what did you do last time to protect if from the falling housing market and the sub-prime mortgage crisis?

Write it down. Seriously. You are only cheating yourself if you don’t. Writing it down will help you make a fair analysis.

The answer on the next page will let you know if you need a financial advisor or financial planner.

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Yahoo Says No

According to news stories Yahoo will reject Microsoft’s takeover bid. This isn’t too surprising. As we pointed out here last week, despite the media’s focus on the premium of the offer relative to the previous day’s closing price, the offer represented a very small premium to the year ago price or even the end of 2007 price. Some outlets are reporting the Microsoft might be willing to go to $35 a share. That might still be too low. The really interesting reports suggest that Google has offered to help Yahoo to keep them from saying yes. No word on what that help might look like. My best guess would be joint projects to share Yahoo Widgets and Google Apps on each other’s sites.

The irony to all of this is that while it is true that Google is eating Yahoo’s lunch when it comes to being the Number 1 search engine, Yahoo is still Number 2. Keep in mind there is a lot of money to be made at Number 2, and Yahoo hasn’t even tried the whole cost cutting and layoffs thing yet. There is plenty of profit in the company and Yahoo knows it.

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Need Help With Tax Preparation?

If you need help with figuring out how to do your [tag]taxes[/tag] and you make less than a certain amount of money ($40,000 usually) there may be programs to help you prepare your taxes for free. The best part is that if you are want to learn they will teach you instead of just doing it for you.

In Colorado the pilot program, called [tag]Tax Help Colorado[/tag], begins this year (2008) for people doing their 2007 income taxes. Currently, it is only offered at the Community College of Aurora but they are looking to expand it next year.

The way the program works is that students at the college take a tax course in the fall and then volunteer to run the tax center in the Spring of 2008. They get college credit and get to help people at the same time. That’s what I always like to see: a win-win situation.

The Colorado program is modeled after a successful program in New Mexico called Tax Help New Mexico, but there are many programs like this nationwide. Keep in mind any program like this should be FREE. Free means no up front charges especially, but also no percentage of your refund.

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Finance Gourmet Website

Here is the Finance Gourmet Website, the companion to the Finance Gourmet Blog. While the blog handles current topics, the website has in depth information on all aspects of financial advice and financial planning. The Finance Gourmet

Microsoft Offers to Buy Yahoo – Your Guide

"This is the big one Goose!"

Today, [tag]Microsoft[/tag] made an offer to buy [tag]Yahoo[/tag]. This would be a very big purchase of a very big company by a very big company. In other words, it is a big deal. That means you can expect plenty of media coverage. Today you’ll see the basic news story reporting the terms. You’ll also get some snap analysis. Usually I would consider such analysis to be sloppy because it has come too quickly to have actually analyzed the information, but in this case, Microsoft has made an overture to Yahoo before, and the speculation that it was coming again has been high, so this particular event is one that has been contemplated before today by many analysts. Over the coming days (and especially this weekend when the markets are closed making news hard to come by) you’ll see more in-depth analysis, reactions, and so on. So, before you dive in here is your guide to the already under way media frenzy.

What Is Going On – The Basics?

Microsoft made public an offer to purchase Yahoo. You’ll hear plenty of talk around the water cooler about how "Microsoft is buying Yahoo." Not yet. Think of it like buying a house. Microsoft put in an offer. Yahoo can accept, reject or counter the offer. In most buyouts, there would be the possibility that another party could come along and make a better offer. At this dollar amount, however, the number of possible buyers is small, and no one is expecting a different offer.

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About Finance Gourmet

The [tag]Finance Gourmet[/tag] is a real life [tag]financial planner[/tag] with real life clients. Why is this such a big deal? Because virtually no one else you are reading can say that. Those articles in the newspaper? Professional journalists. Those other websites? Professional writers and web designers. Those books? Professional speakers mostly, with some supposedly successful (or formerly successful) investors thrown in, and maybe a former financial advisor or two. Of course, its been years since they had any real clients.

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Welcome to Finance Gourmet

With so many good domain names already taken it can be a bit of a challenge to find a good reasonable name for your home on the web. Hopefully, we’ve done ok. Our main concern will be how many people know how to spell “gourmet” :). Although we won’t be …

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