I don’t think very much of personal finance gurus. In fact, I’m skeptical about most of them. Well, much to my surprise, Robert Kiyosaki had a great piece in his column this morning. The article discussed John Bogle’s new book The Battle for the Soul of Capitalism. After reading Bogle’s book, Kiosaki’s argues that most mutual fund companies are actually ripping investors off by charging high fees designed to enrich fund managers not shareholders. Finally, Kiyosaki argued that mutual funds required greater governance to ensure that shareholders don’t keep getting the shaft.

I’ve been critical of Kiyosaki in the past, but this time I can’t agree with him more. Given everything that’s been going on with the SEC options scandal, corporate responsibility seems to be at a low point.

If you own mutual funds, you should probably give the article a look see.

Best,

James

MANAGE YOUR MONEY TOGETHER

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1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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