Sound Financial Advice by David McPherson, founder of Four Ponds Financial Planning LLC, Falmouth and Mansfield, Mass.

Latest edition of "Sound Advice" newsletter published

At long last, I sent out to subscribers today another edition of my Sound Advice newsletter. Topics covered include special Social Security payments, an expanded tax credit for higher education and my expanded Financial Checkup service.

Click here if you're interested in subscribing.

On the radio with NPR's "Here and Now"

As a result of my recent ABCNews.com columns, I had the opportunity yesterday to appear on the National Public Radio program "Here and Now." I discussed some of the things people should be doing in light of the current economic and investing climate. I also reviewed some of the government programs that have emerged to help individuals cope with these tough times.

"Here and Now" is produced at WBUR in Boston and airs on NPR stations across the country from Alaska to Alabama. 

Click here to listen to the interview.

The Financial Checkup: A low-cost financial planning option

More than ever, people are worried about whether they will have enough money to retire, send their children to college or achieve other financial goals. That's why many people want the help of a fee-only financial planner. However, they're also watching expenses as they worry about their job security.

For those reasons, I've been working to refine the Financial Checkup session I offer to clients. The checkup session is something I've been doing for a while, particularly with younger clients who don't have a lot of assets but want to be sure they're making smart financial moves.

I figure in these tough times it's a service that might be appealing for many prospective clients, both young and not so young. I'm trying to make it a great value for clients while at the same time making it profitable for me.

It's a service I'm offering online as well as in person. With advances in web conferencing technology, the Financial Checkup can be offered quite nicely to clients from near and far.

I've added a new page to my web site highlighting this service and bought a new URL to direct prospective clients there. That web address is www.YourFinancialCheckup.com.

Take a look, and let me know what you think by emailing me at david@FourPondsFinancial.com or commenting below this post. Suggestions to make it even more appealing to prospective clients are welcome.

Sound Advice newsletter: February edition

It took longer than it should have, but the second edition of my newsletter, Sound Advice, is out finally. Among other things, it touches on increased retirement plan contribution limits, a waiver of required minimum distributions for 2009 and my recent mention in the New York Times.

I hope to follow it up soon with next edition in early March. Click here to become a regular Sound Advice subscriber.

On Daschle and taxes in today's New York Times

I never made it into New York Times during my years as a full-time journalist. But today, Your Money columnist Ron Lieber included my suggestions in a story headlined "How to Avoid a Tom DaschleTax Problem."

The suggestions centered around who should hire a tax pro rather than do their returns themselves.

If you're not a regular reader of Ron's column, I'd suggest checking it out. He offers sound, practical advice that appeals to every-day consumers and investors.

A gift that keeps giving: Financial planning gift certificates

No Black Friday specials yet, but Four Ponds Financial Planning LLC has joined the ranks of businesses offering holiday gift certificates.

A new page on the Four Ponds web site provides an easy way for gift givers to order a financial planning gift certificate for someone they think might benefit from professional financial advise.

The order form allows purchasers to buy financial planning help for another person (or even for themselves) in one-hour increments. Buy two hours worth of time, and the recipient will be eligible for a Financial Checkup Session at a reduced rate.

I should note the Financial Checkup Session is available in person or via an online conference for those who live a good distance from the World Headquarters or our regional office.

Two recent news articles that suggested financial planning gift certificates as appropriate gifts in tough economic times inspired me to offer my own.

"Give the gift of financial security—chances are your loved ones need to get their retirement plan back on track, or maybe they need to get a retirement plan started," BusinessWeek personal finance editor Lauren Young wrote.

Separately, Associated Press personal finance writer Candace Choi wrote:

"If cash seems tacky, consider paying for a meeting with a financial planner. This gives the recipient the flexibility to choose how to use the time, whether it's for a portfolio tuneup or to map out a savings plan."

That makes it a business trend I can't ignore. So if interested, visit www.fourpondsfinancial.com/gift_certificates.html.

Just like Amazon, I'll rush orders to last minute shoppers.

Sound Advice newsletter

The Sound Advice newsletter made its debut today after a long delay. I intended to begin publishing this personal finance newsletter for clients and friends alike back in September, but then the financial markets went into a tailspin. That forced me to devote my full attention elsewhere for some time.

The first edition of Sound Advice offers suggestions on ways to cope with the recent market turmoil and highlights the publication of Investing in an Uncertain Economy for Dummies.

The newsletter will be published monthly using iContact, which places a high priority on preventing spam. That means to receive Sound Advice on a regular basis you will need to subscribe and then confirm your subscription. This extra step can be cumbersome, but it ensures you will not be subjected to unwanted email.

Click here to subscribe to Sound Advice.

Email me if you have any comments or suggestions on what makes for an effective newsletter.

Preview: "Investing in an Uncertain Economy for Dummies"

As a contributor to the new book Investing an Uncertain Economy for Dummies, I received the right to post online a PDF version of the chapter I wrote, Diversifying Your Stock Portfolio by Size. The chapter explains the differences between large, mid and small caps and how including a bit of each in your portfolio can help overall performance.

Here's a link to the chapter. It will give you a flavor of what the overall book is like and maybe inspire you to purchase it.

Just published in October, the book was a collaborative effort by financial planners like myself who belong to the Garrett Planning Network. In addition to writing a chapter, I served on the editing team that coordinated the project.

On the shelves: Investing in uncertain times

Looking for a guidebook to help you navigate the current market turmoil?

You might want to check out Investing in an Uncertain Economy for Dummies, a new title in the Dummies series of how-to guide books.

Members of the Garrett Planning Network, including me, wrote the book as a collaborative effort late in the spring. Little did we know how timely it would become by the time publication rolled around in October.

Network founder Sheryl Garrett is listed as lead author, but dozens of financial planners from around the country wrote individual chapters.

My chapter, number 42: "Diversifying Your Stock Portfolio by Size," explains the differences between large caps, mid caps and small caps and the advantages and disadvantages of each. I also served as a member of the Garrett network editing team that helped coordinate more than 80 individual contributions.

Here's a press release I wrote announcing the book's publication.

Published by Wiley, the book's cover price stands at $21.99, though it can be found for less.

I won't be making any money off book sales myself, but I will be looking for opportunities to publicize the book (and figure out what to do with the 20 copies sitting in my office.) Contact me if you have any suggestions.

Catching up: In the media

The Cape Cod Times recently contacted me for an article on ways to raise some quick cash when facing a financial bind. My comments addressed issues such as 401(k) loans, Roth IRA withdrawals and ways to reduce monthly expenses.