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Highlights of the February 2007 Issue of
MONEY
[Full stories also available online at www.CNNMoney.com ] INVEST TO WIN 2007 : All you need to know to build and maintain a brilliant (and simple) investment plan for this year and beyond
The Best Mutual Finds You Can Buy , by Penelope Wang, page 61 Obsessing over performance numbers is exactly the wrong way to build an investment portfolio. You'll feel a lot better—and become a better investor—if you accept this inconvenient truth: Trying to predict which funds will deliver the best short-term returns is futile. MONEY's list of recommended funds is not about aiming for the highest short-term returns. Our lineup is designed to let you build a well-balanced portfolio that will help you reach your most important financial goals, like putting your kids through college, starting a business or achieving a comfortable retirement. PLUS: The MONEY 70, page 64 The Perfect Money Makeover , by Asa Fitch, Amanda Gengler, Josh Hyatt and Donna Rosato, page 68 Now you know the 70 best funds to buy. But how do you put them to use in real life? See how MONEY helped craft smart investing plans for five families; then use the lessons to develop your own.
Fund Scorecard, page 78 Welcome to MONEY's exclusive annual report on the market's most important funds.
Is It Time for a New New Deal? , by Pat Regnier, page 94 Americans are prosperous, but worried—about jobs, healthcare, retirement. Now some in Washington are asking if life really needs to be this risky. Call it the Anxiety Economy. By most of the obvious measures—GDP growth, unemployment, inflation—things are good. But wages have been growing very slowly of late, and middle-class and even upper-middle-class Americans are reminded every day that their families are just a bad break or two away from a financial crisis. As the new Congress takes over, for the first time in 12 years Democratic legislators have a chance to set the agenda, and the Anxiety Economy is going to be near the top. Here are three big items they'll want to take on, and how debate over them might play out over the next couple of years.
PLUS: Three ways to protect yourself from the Anxiety Economy Being Grown-Up About Debt , by George Mannes, page 35 It's a burden more and more Americans share. Since 1990, average credit card debt has more than doubled, to $9,159, according to CardTrak.com. And it's not just young couples buying their first homes and starting a family, who are in over their heads. The amount owed by people of retirement age has nearly doubled over the past few years as well. Blame easier access to credit, sure, but also today's “I want what he's got, gotta have it now” mentality. There's no shortage of repayment plans, but you'll never dig out unless you also change the attitude toward money that contributed to your getting into debt in the first place. These strategies should help.
VALENTINE'S DAY : Thank Me Very Much , by Barbara Bedway, page 39 It's mighty romantic to get your sweetheart a Valentine's Day gift. But exchanging gifts when the giver and the receiver share the same financial pot can be tricky: You don't want to be a heel, but it's not entirely your money to spend. Fortunately, there are strategies you and your loved one can use to keep you in the giving mood all year long. Here are three:
VALENTINE'S DAY : How Sweet It Is , by Charles Passy, page124 The preferred Valentine's Day gift has experienced a significant transformation since a Brit named Richard Cadbury allegedly packaged the sweet in a heart-shaped box in the 1800s. Buoyed by America 's growing appreciation for gourmet foods (and by the increased awareness that cocoa is rich in antioxidants), chocolate makers have been pushing new products designed to capture this surging market. But a costlier assortment of chocolates may not necessarily be a better one. That's why the competitors in this test cover a range of prices. For every seeker of the finest European truffles, there are just as many who prefer a bar of Hershey's. Fortunately, quality can be found at all prices. With Valentine's Day just around the corner, five boxes of chocolate undergo a serious taste test DO IT NOW: Gear Up for New Tax Savings , by Tracy Byrnes, page 43 Prep for what has changed—or gotten trickier—on your 2006 return and make filing more rewarding. Here's what's new for 2007 and how to make the changes work for you. PLUS: Rush Your Refund – Three tips to speed up the wheels of bureaucracy. When *!&# Happens, It Could Be Your Big Break , by Sam Grobart, page 38 I t's a fact of life—and of work: Bad things happen. Deals are blown, ambitions are squelched, things go to hell in a handbasket. But a bad situation doesn't have to be all that bad—if you know how to make it work for you. First thing you have to do? It's like that song in West Side Story : Be cool. A level head is key; repeated bouts of guilt and self-recrimination won't get you anywhere. Focus instead on what you can do to turn the situation around, then act swiftly and decisively to capitalize on the opportunities the circumstances present. Of course, some mistakes are impossible to recover from. But if you're able to pull it off, you may wind up impressing people in ways you never could have if everything had gone according to plan. Just consider the possibilities in these commonplace office nightmares:
Is Your Realtor on Your Side? , by Stephen Gandel, page 25 When you're shopping for a house, it might appear that the friendly broker who listens to your needs, drives you around to showings and answers your questions is unflaggingly devoted to you. In reality, however, most agents work for sellers. Now, even more so. These days, see, agents representing buyers are increasingly being showered with extra incentives that may cause them to push certain houses. Traditionally, sellers pay 6% commissions—3% to their agent, 3% to the buyer's agent. But with the market slowing, sellers are upping the slice going to buyer's agents. Choose one of these three techniques to help ensure that the house you're shown is the best deal for you , not your broker. Easy Ways (Really) to Save More Than $400,000 , by Walter Updegrave, page 44 You've seen those articles that claim you can boost the size of your retirement nest egg by eliminating trips to Starbucks and banking the money you would have spent on lattes. But come on. Will you really stick to such a regimen? And even if you do, won't life be kind of grim without a few indulgences? Instead of obsessing over every little treat, try adopting a more realistic savings strategy. Start by acknowledging that funding retirement involves compromises. You are probably going to have to give up something today for a shot at a better tomorrow. But by going about it the right way, you can often find tradeoffs that will allow you to sock away real money while still leading a rich, full life. Sell Your Home Faster with These Five Quick and Easy DIY Improvements, by Arianne Cohen, page 47 Hoping to sell this spring? Then you may want to put these winter weekends to good use by fixing up a few rooms. Prices are softening, homes are sitting longer. You need a leg up. “You're competing with new developments, and builders have really thought through what details impress buyers,” says agent Katherine Camp of Prudential Douglas Elliman in New York City . Because you're unlikely to recoup full renovation costs these days, bypass a contractor and focus instead on what you can do yourself, in rooms buyers pay the most attention to. These five projects should get your house noticed—and snapped up sooner.
The Future Has Four Doors , by Sam Grobart, page 105 The big sedan is back. New models from the likes of Chrysler and Toyota offer surprising style, performance and luxury at less than luxury prices. Even as the SUV underwent its identity crisis, massmarket car makers were getting back to work on the old-fashioned large sedan, and the latest are quite good. Old players like Buick and Cadillac both have serious new entries, and newcomers like Acura and DaimlerChrysler have brought real innovation to the field. The middlebrands' top-shelf sedans all offer luxury and performance that's much better than merely car-like—usually for well under $50,000. Only one of them, though, gives you the most car for the dollar. To find out which, you'll need to read on. Where the Dollar Hasn't Gone South , by Carolyn Bigda, page 121 Sick of crummy exchange rates in Europe ? To get the most value out of your next vacation, head to South America . Good deals are not the only selling point. While your flight may take 10 hours or more, the continent is no more than three hours off from eastern standard time, which means little jet lag. (Fly from New York City to Paris and you'll have to bounce back from a six-hour gap.) And you'll find warm temperatures, vibrant cities, beautiful wilderness and world-class wine. It's enough to make the most devout Europhile forget that other continent.
PLUS: START Tip of the Month Three ways to score a hard to get ticket . In Today's Hot Market, Better Keep Your Cool When stocks are soaring, your natural impulse is to take action. Problem is, that impulse is usually wrong. PLAN Buy Bonds, Boost Your Return With rates stalled and maybe falling, short-term bond finds look like a good bet. INVEST Contrary Medicine Health-care stocks are in the dumps. All the more reason to keep a healthy dose of them in your portfolio. Sivy on Stocks Low prices, ample dividends and smart business plans give B of A and DuPont the chance for further gains. MONEY is available in digital format. To access this version go to http://digital.money.com # # # For further information please contact: Erin Clinton
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