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Binary Dollar had an open mic question “Would You Go To Prison For One Year For $100 Million Dollars?”. Since comments are closed now, here’s my response:

Most likely not. Going to prison most likely means that you did some sort of crime or unethical activity. Living with myself knowing I robbed employees of their pension plans or whatnot is not the guilt trip the rest of my life. Then again, if it’s something like a reality show where you got the money for going to prison for a year then I’d really have to consider it. I’m sure your lifestyle would increase greatly with $100 million dollars but that means 1 year of your life away from friends, family, your kids, etc. I’d also have to refuse as one year of my youth is priceless and I definitely know it doesn’t seem so now but those things you learn with age. However if I were done with college and a little older, and the money was earned ethically… I might see the situation as similar to an overseas job (in a totalitarian country where we all wear the same spiffy outfits).

There was no Monday Morning Roundup as I hosted the Carnival of Personal Finance yesterday.

For the carnival I selected about 20 or so posts were selected for mention. Predictably I received some e-mails from bloggers as to why their post wasn’t included. The reason for this most likely is that there were just too many submissions. I wanted about 20 or so posts because I feel that carnival/festival hosts generally like to include every post that’s sent in just to get the link back from the blogger. In my humble opinion, this limits the carnival’s appeal in that it just becomes a huge 100+ link list.

Plonkee feels that “reading about investments, and monitoring my spending, and opening and closing new accounts” is unpaid overtime for his/her finances and doesn’t see an obvious return. I think that all those activities do net you a return in that you make sounder investing decisions, spend your money wiser, and overall your finances are in better shape.

Sun does a comprehensive look at lifecycle funds funds from Vanguard, Fidelity, and T.R. Price. The Vanguard funds, has 0.5% less in expense ratio, but lagged 2% in performance compared to T.R. Price’s fund.

Trent over the simple dollar got a speeding ticket for going 6 miles over the 55 mph speed limit on an empty road. Something is just wrong there.

Here’s a fun little calculator from CNN Money to see how you stack up to other people in your age group. Take it with a grain of salt as it doesn’t factor in a lot of considerations. Apparently the average net worth of other 20 year olds is $400. Too many new BMWs not yet paid off eh?

Fresh Monday gooodies.

Zillow is banned from giving Zestimates in Arizona by the state regulatory board citing lack of appraisal license. I think it’s idiotic as Zestimates are automated as Zillow says and people don’t use Zillow in favor of a formal appraisal.

An article over at Slate entitled “Spend Every Dime!” which attempts to explain why US Tax Policy makes savings a sucker’s game. Personally I disagree with this sentiment as people who DO save come out ahead.

CNN Money finally stopped putting articles about million dollar cars and accessories in the personal finance section and rightfully put them in the new luxury section.

CNN Money has another ridiculous “Millionaires in the making” story about a couple with no kids, living in Texas, and makes a combined $145,000 in income plus $40,000 in bonuses. How about a story where the couple makes less than the median income and are on the path to being millionaires?

Golbguru writes “Yes, there are educated people that think like this” in that even some “educated” people lack personal finance basics. It really goes to show you common sense isn’t always common knowledge.

Carnivals, Festivals, etc.
The Carnival of Money, Growth & Happiness #2

Just some stuff to start off the week…

I participated in 2 carnivals/festivals. My post about high yielding bank accounts is mentioned in the Carnival of Personal Finance edition #95 is up over at Accumulating Money. My post about the beginning of my million miles quest is included in the Festival of Under 30 Finances edition #20 is up over at One Big Mortar Board.

The consumerist has an interesting article about racist packaging labels.

Wise Bread has some humorous outrageous tax deductions.

and last but not least, here’s a post I truly enjoyed about the milk bottle came at carnivals, complete with schematics!