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Sound Money for October 4, 2003
 Job market looking up
U.S. payrolls grew and unemployment held steady at 6.1 percent in September, according to the latest figures from the Labor Department. Mike Mandel, chief economist for Business Week, says this is good news for short-term job recovery. (Oct 4, 2003)
The costs of illegal trading
Late trades in the mutual fund industry may have cost shareholders up to $400 million a year since 2001, according to a new study. The study's author, Eric Zitzewitz, strategic management associate professor at Stanford Graduate School of Business, also found that late trading is more common in international mutual funds. While the amount of money lost in late trading is significant, Zitzewitz found that the amount of shareholder wealth lost by illegal trading is small relative to that lost to market timing. (Oct 4, 2003)
You don't have to be rich to be happy
At least, that's what financial author Jean Chatzky says in her new book You Don't Have to be Rich: Comfort, Happiness, and Financial Security on Your Own Terms. Her survey of more than fifteen hundred Americans about financial happiness found that most people don't need a lot of money to be happy; they simply need to feel in control of their money matters. Jean is also an editor at Money magazine and appears on NBC's Today. (Oct 4, 2003)
Financing Adoption
Adoption is the largest area of interest to our Sound Money Web users. So this month, we're going to bring you stories of adoption, and discuss the costs of bringing a child into your life. Susan Caughman is an adoptive parent and the editor and publisher of Adoptive Families magazine. She says the costs vary depending on the circumstances, and explains some of the benefits available to prospective parents. (Oct 4, 2003)
Risk is everywhere
Most people think losing money in stocks is the biggest pitfall in their portfolio. But our in-house investment expert Erica Whittlinger says there are risks lurking around the corner with every investment. She talks about how to balance those risks to develop a solid investment strategy.
(Oct 4, 2003)
Listener questions for October 4, 2003
This week, Chris Farrell answers questions about: opening a vineyard, how much debt is too much, how to compare different rates when refinancing a mortgage, the budget deficit's long-term impact on the economy, exchange traded funds like SPDRs, how to decide between early retirement and a new job, and whether it makes sense to max out your 401(k) contributions and then borrow from it to pay off debt. (Oct 4, 2003)
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