• babymint.com - saving for kids' college
• craigslist.org - now charging in some cities

Awhile back, Clark talked about the “Merrill Lynch” rule. The financial industry had gotten the SEC to adopt a rule that basically lets brokerage firms and financial houses off the hook for putting you into risky investments. Well, that is about to change. Clark has great news regarding this long-standing rule, which basically causes clients to lose money and fattens the firm’s wallet. A Supreme Court ruling has just been issued, which requires firms to put your money in investments that benefit you and not them. Until now, the only requirement of firms was that recommendations be “suitable” for the client. That essentially means that an investment is appropriate for the client’s age, but that’s it. It didn’t matter if the investment is the worst fund in existence. And the salesperson handling the money often got free trips or money in return. That is no longer allowed and we’ll keep you posted on any appeals that occur.

Long commutes have been proven to cause health problems, a new report states. University of California Irvine has been compiling data for three decades and has found that those who drive in long commutes for several years will suffer from higher blood pressure and more illnesses. The longer the commute, the worse the health problems. Another study at Colorado State tested the correlation between long commutes and anger. It showed that sitting in the car for long periods of time or encountering bad drivers on the road increases anger in people.

Clark and Christa returned today from Milwaukee, the first stop on Clark’s 2007 book tour. While there, he met a young man who was considering filing for bankruptcy. He had gotten a bunch of credit cards in college and had racked up $3,000 in debt. Clark was floored. There is no reason that the man should file for bankruptcy. But the collectors had gotten it into his head that he had no other choice. There are several problems with this picture. First of all, credit cards are way too available on colleges today. Students should get a few credit cards in college. It’s a good way to start establishing good credit. But they have to watch their spending. Secondly, collectors behave like creeps and should be held liable for their actions. If you get a call, record it and tell the collector that they are being recorded. Lastly, bankruptcy is mentioned way too often and easily these days. It should be the very last option anyone chooses, not an avenue for financial planning.

The IRS is trying to put fear into people about what could possibly get you audited. The IRS got heat in recent years for auditing people who earned under $30,000 a year. It was not fair because they were completely ignoring those who made six figures or more. As a result, the IRS is going the other way and is putting more pressure on those who make more than $1 million a year. If you are one of these earners, there is a big chance you will be audited. The possibility of being audited increases even more if you own your own business, especially if it’s a restaurant. The Feds know that many people who own restaurants keep two books – one real and one that’s a little fudged. In addition, the IRs is getting picky about the charitable donations section of your tax returns. For instance, you can only deduct charitable goods you’ve given if they are “in good condition.” The agency doesn’t define what “good condition” is, though. But, in general, if you’ve been playing it straight, you have very little to be worried about.