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

Lessons for investors one year after Madoff arrest

A column I wrote a year ago for ABCNews.com on the Bernard Madoff scam led to my appearance on the public radio program Marketplace Money this weekend. The show's producers -- who read the original column -- asked me to discuss lessons individual investors should take away from the biggest Ponzi scheme ever. Here's a link to the interview.

Marketplace Money airs at various times on the weekend at various public radio stations around the country. In the Boston area, it airs at 4 p.m. on Sunday at WGBH 89.7 FM. If you have a chance tomorrow, tune in, and then let me know what you think.

On the Money Bus with NAPFA

I spent the day in Boston yesterday, offering free financial help at an event on City Hall Plaza sponsored by the National Association of Personal Financial Advisors. The Your Money Bus tour is an effort by NAPFA to improve financial literacy. The tour, sponsored by T.D. Ameritrade and Kiplinger's magazine, has been under way for about a year. It came to Boston for a two-day visit.

I fielded questions about how to roll over a former employer's 401(k) into an IRA, deal with credit card debt and develop savings strategies.

Here's an article on the event that appeared in today's Boston Metro.

Four Ponds in the news: 401(k) investing

The Cape Cod Times yesterday featured my comments on 401(k) investing for a Sunday story on the front of the business section. One line from the article:

“It’s the perfect time – you’re buying shares at a very low price,” said David McPherson, owner of Four Ponds Financial Planning in Falmouth. “When there’s a rebound, you’ll benefit greatly.”

Click here to read the article in full. 

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.

A visit with The Shop Cop

I had the opportunity on Thursday to talk about retirement planning on The Shop Cop, an Internet radio program on VoiceAmerica. The program is hosted by Jennifer Litwin, a consumer advocate who is a regular contributor to local ABC affiliates in Chicago and in Minnesota. We covered a lot of ground in the 25-minute interview.

Take a listen here.

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.

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.

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.