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-   -   Money magazine = worth it really? (https://www.early-retirement.org/forums/f28/money-magazine-worth-it-really-33586.html)

Orchidflower 02-25-2008 09:13 AM

Money magazine = worth it really?
 
I love Kiplingers, but am not sure Money is worth buying even for the sr. $10 a year rate. I seem to never look or take Money's advice. Am I wrong for thinking this? :confused:
Kiplingers does have a magazine you buy separately on the 2008 Mutual Funds. I bought it on the net, since it doesn't seem to be coming to my house. Curious as to what it says. Anyone else get it?

freebird5825 02-25-2008 09:17 AM

Quote:

Originally Posted by Orchidflower (Post 620350)
I love Kiplingers, but am not sure Money is worth buying even for the sr. $10 a year rate. I seem to never look or take Money's advice. Am I wrong for thinking this? :confused:
Kiplingers does have a magazine you buy separately on the 2008 Mutual Funds. I bought it on the net, since it doesn't seem to be coming to my house. Curious as to what it says. Anyone else get it?

Money magazine has some excellent contributing writers, like Jason Zweig, Michael Sivy, Walter Updegrave, among others. check out their website at Business, financial, personal finance news - CNNMoney and surf for free.

my only complaint about the hard copy magazine delivered to my house is it's too thin. i read it quickly and wish i had more. so off i go to the website.

audreyh1 02-25-2008 10:06 AM

No. Money magazine is pretty worthless trash IMO. Fluffy "feel good" stuff and rather superficial. I found it no help at all as I planned my retirement and structured my investment plan. I got the really helpful stuff from financial web sites.

I mostly go to Morningstar for mutual fund stuff.

Audrey

TeeRuh 02-25-2008 10:06 AM

O-flower, I'm about a 2 year Money subscriber. Would definitely admit that a lot of the material is "same ol-same-ol" and articles tend to become somewhat redundant. But, of several magazines we take it's still the one I look for each month and usually read cover-to-cover ... (Think I like the "reinforcement" I get... kind of like reading on here or over at Boglehead's ...)

t.r.

Art G 02-25-2008 10:08 AM

Absolutely not worth it. Somewhere I once saw a collection of Money magazines cover stories from years past on funds you must absolutely own. The returns were a negative number going forward. They tend to recommend buying high from what I've seen.

Marquette 02-25-2008 10:11 AM

It's worth it if you feel the $10 rate provides more than $10 in entertainment or enjoyment. For heavens sake, though, don't use it for investment advice.

poboy 02-25-2008 10:14 AM

I used to subscribe but grew tired of reading about the couple of the month who were 1. freelance poets 2. writers of childrens books. Invariably they wanted a review by the financial folks who would suggest options, ie, sell the chalet in the mountains that was inherited by hubby, sell the oceanfront condo inherited by the wife, pay bills and travel from the trust proceeds set up by dad. They would continue to live on the farm that was also inherited and would consider getting a one day a week postion reading stories to kids at the library. I realized quickly Money mag folks were in a different league than I.

Sarah in SC 02-25-2008 10:20 AM

We call it Money porn around the office. I like reading Kiplinger's and Smart Money and I do read Money when they come rolling in each month, but I'd never pay for them. Fluffy money porn!

My bosses read Bank Credit Analyst and The Economist. Those would seem to be way more worthwhile!

Midpack 02-25-2008 10:51 AM

Does anyone think any of the financial magazines are worth a subscription? I'm not sure I do. I have subscribed to Forbes, Fortune, Worth and Smart Money and dropped them all. Money is flashy but like a lot of magazines, all genres, they seem to repeat themselves every year with a few updates. IOW, once you've had a 1 year subscription, there's not much value added after that. And I've never seen a financial magazine that promotes the type of investing I believe in (Four Pillars and the like). If there is one, I'm all ears.

aida2003 02-25-2008 11:05 AM

I'm OK to read Money because they tell personal stories. SmartMoney is totally worthless, IMO. Kiplingers? Well, it's OK maybe.
None of the above is good to creating your own plan. They're for entertainment, IMO.

W2R 02-25-2008 11:21 AM

I haven't subscribed to a magazine (other than professional journals required for my occupation) since 1964.

That one was Seventeen Magazine, and I cancelled the subscription when I turned sixteen.

I don't even subscribe to pay websites. Little regular payments will eat your budget alive. Besides, I have always felt that the internet should be free, and that I wouldn't pay for a website just as a matter of principle.

Art G 02-25-2008 11:22 AM

Investors Business Daily

maddythebeagle 02-25-2008 12:30 PM

I wouldnt pay for any magazine...I do get a few free ones and the financial ones are full of fluff and look at for 10-20 minutes and done....

samclem 02-25-2008 01:10 PM

Money is definitely financial pornography. It's not the worst stuff out there, but still gravitates toward the "10 Greta Mutual Funds to Own Now" type of stuff, with predictably bad results.

Kiplingers is much better, in my opinion, but I still don't subscribe to it.

I don't subscribe to any financial magazines. What an investor needs to know is available in better form in books and online--the magazine format just breeds sensationalism and repetition (how many ways are there to say "spend less than you make, invest in low cost funds, learn enough about the tax code to avoid unnecessary costs") . The laws and things that do change usually get mentioned right on this board with a link to an article with more info.

Rich_by_the_Bay 02-25-2008 01:17 PM

When I read Money and the like, I can see how a young person might get sucked in. There is always a hint of get-rich-quick though they don't say that; instead they lean toward "beat the market" and "These managers outpaced the market by 100%." The couples profiles all read like fantasyland.

I don't like their look and feel, and I find the "advice" to be really fluffy.

youbet 02-25-2008 01:37 PM

I subscribe to two daily papers, the Financial Times and the WSJ, and one weekly magazine, The Economist. Being an old fashioned geezer, I still enjoy the paper format and the cost is negligible as long as you shop for bargain rates. (I sometimes let subscriptions lapse until the next cheaper than dirt offer comes along.)

I do find the populist-appealling mags such as Money or Kiplinger's fun when I'm at the library. When reading the articles, I try to imagine who the author is, who is the target audience and what the author is trying to accomplish with that audience. Reading these mags to see what they're saying and who they think they're saying it to and why is different than actually reading the articles with the intention of directly incorporating the (mis)information into your plans.

Nords 02-25-2008 03:29 PM

Quote:

Originally Posted by Midpack (Post 620409)
Does anyone think any of the financial magazines are worth a subscription? I'm not sure I do. I have subscribed to Forbes, Fortune, Worth and Smart Money and dropped them all.

I'm with W2R-- it's hard to find a magazine worth paying for when you can read it on the Web.

The ONLY financial magazine that I enjoy reading is Highline Media's "Wealth Manager". It's free if you lie claim to be a financial professional. (The reality is that they're begging you to receive their junk mail bulk up their mailing lists & advertiser rates.) The reason I enjoy reading it is because it usually has the unvarnished truth about how you're perceived by financial-management firms along with a rational discussion of their expenses & concerns. It's a great "know thine enemy" insight into what's running through their minds while they're talking to us. They get into the nitty-gritty of financial products, taxes, and estate planning without sales talk. And if someone does something slimy or sleazy it's usually exhaustively analyzed for a summary of how to reassure the customers and how to avoid being taken the same way.

We ditched Business Week because I'm presbyopic I've usually read it all on their website before the magazine arrives 4-5 days later. The same problem is becoming readily apparent with Scientific American (let alone their tendency to see political conspiracy everywhere). I'd ditch Family Handiman if it wasn't for their ads new-tool articles.

I keep a subscription to the U.S. Naval Institute PROCEEDINGS monthly because I bought a life membership in 1982 I get an illicit thrill from deciding not to read articles instead of worrying that the chain of command would want us to be able to discuss them. I subscribe to the alumni magazine, despite their mailing-list problems, because I like reading the history articles and looking at how fat & old my classmates are getting our class photos.

Otherwise we'd be magazine-free.

As for those real-life retiree articles, let me tell you about mine. Fortune's reporter, who is actually pretty good compared to other interview stories I've heard, spent about 30 minutes on the phone with me and a couple of followup e-mails through an assistant. If she understood why military retirees want a high-equity portfolio, she didn't ask about bonds or volatility. If she understood the concept of SWR, she didn't ask about it. For all she attempted to engage on financial issues, if I'd blathered on about beever cheeze futures it would've shown up in print without any sort of credibility check or common-sense filtering. If she made any attempt to verify any details other than spelling & military terminology, I was unable to tell. While the fact-checking was minimal, the verification was absolutely unidentifiable-- I could've been a 14-year-old from Missoula convicted felon or even H0cus. And that's the best conversation I've had with a reporter from a financial magazine.

As for "value reporting", the money they spent on me was absolutely bewildering. I could've e-mailed JPEGs for them to include in their article, although admittedly most people's photos aren't suitable for that use. I was interviewed by phone from Manhattan about two weeks before I was actually scheduled to be in Manhattan, so they could've easily snapped a mugshot in their lobby. Instead they flew two freelance photographers to Hawaii for one photo. To get that one photo we spent four hours in Waikiki surf and another two hours at my taekwondo dojang and snapped at least 800 film exposures. Every roll was developed (via overnight express to FORTUNE) and most of it was printed. I was just one of five people interviewed for one article.

I don't know how they charge enough in advertising to stay profitable, let alone pay their reporters enough salary to tempt them to do a proper job of research.

Goonie 02-25-2008 03:54 PM

I 'spent' some of my old airline miles on several different magazine subscriptions, just to 'check them out'. When it came time for renewal, I only renewed Kiplinger's and Money. I enjoy perusing both, but definitely like Kiplinger's best. I also picked up Kiplinger's 'Mutual Fund' issue to read while I'm basking in the FL sunshine, but thus far haven't had time to open it up yet......too busy basking! :)

mn54 02-25-2008 03:55 PM

Barrons is the only mag. I find worthwhile. Has insights into what the fund managers are thinking and buying, and has good in depth reports on individual stocks. I've never heard of Wealth Manager. I'll have to check that one out.

Walt34 02-25-2008 04:02 PM

Quote:

Originally Posted by poboy (Post 620381)
I realized quickly Money mag folks were in a different league than I.

Indeed. Some people had to work for it....

Zoocat 02-25-2008 04:42 PM

Quote:

Originally Posted by Art G (Post 620378)
Absolutely not worth it. Somewhere I once saw a collection of Money magazines cover stories from years past on funds you must absolutely own. The returns were a negative number going forward. They tend to recommend buying high from what I've seen.

That was my experience as a novice investor. I put a lot of my IRA into the Janus Fund which was still being touted by Money magazine when Janus' investments in Enron were clearly out of balance. Needless to say, I lost some money in that debacle.

mathjak107 02-25-2008 05:59 PM

i like reading it, it makes my own problems seem not so bad. kind of like watching the loosers on susie orman

tomintucson 02-25-2008 10:25 PM

I've subscribed to Barrons for 8 or 10 years, have learned from some of the best minds in the business (especially from interviews with the likes of Ray Dalio, Stephanie Pomboy et al), but am somewhat disenchanted of late and extremely skeptical of the new owner, a Mr. Murdoch.

52andout 02-26-2008 07:24 AM

Since all of these magazines are at my library I do check them out and read them. For investing purposes, I would not take anyone's word for it anyway and would check out each stock/fund I was interested in personally. By the time any recommendations are made there are so many people reading it for the short term things are a little skewed anyway.

I love the general articles, like one person's finances. It is rare that someone is in better shape than we are.

What I find totally ridiculous are the articles that tell you how to save money. For instance, not getting a latte saves me x dollars a year, but they fail to take into account I never had a latte. Always brew my coffee at home. Not going to the movies once a month saves x, except I go to the movies maybe once a year if someone gives us a gift certificate. And of course they mention eating out. I will only save $100/year not eating out, it is truly a rare event. I have yet to see any magazine or article mention cutting paper towels, or using cloth napkins or towels to clean instead of disposables, or any of the useful talents I see employed here. I expect that those things would be considered cheap and below the sophisticated readers the mags are trying to reach. I'll take cheap any day.

RonBoyd 02-26-2008 09:27 AM

There is an article in today's New York Times that kinda explains our fascination with magazines. (The article doesn't specifically address this but...)

https://www.nytimes.com/2008/02/26/science/26tier.html

DangerMouse 02-26-2008 09:27 AM

I used to subscribe to most of the financial magazines, Money included, and have found that I have outgrown them. Most of what they publish is fluff and I usually find myself thinking that those featured in the articles are a pack of idiots.

Art G 02-26-2008 09:45 AM

OK, here's the summation on Money Magazine. Check out year to year they publish their list of "Mutual Funds you absolutely must own". Each year they are different funds.

Orchidflower 02-26-2008 10:09 AM

I have all of Money's issues from this year. Seems as if they cover the same old thing over and over, but just change a couple verbs, adverbs, nouns and pronouns in the titles like, "The Best Place to Move in Retirement" to "Best Places to Live in Retirement." Well, you get the picture. SOS, different month. Zzzzz...
Did get some good ideas from others here, tho, and using them, too.

clifp 02-26-2008 03:33 PM

I still subscribe to Kiplingers. I'd probably resubscribe to either Fortune or Forbes at less than $20/year. I do pay for online access to the WSJ. Money is useless perhaps dangerous fluff. AAII has about one good article per issue. However, in general I think most board members have outgrown the financial planning info in most of the magazines. Of course you can get almost all of them online for free.

novaman 02-26-2008 03:50 PM

By the time MONEY magazine starts recommending something, it has already peaked.

I foolishly took a flyer on a few of their must own stocks a few years ago. They were citigroup, intel, dell. Intel hasn't moved in 3-4 years and the other 2 have been among the biggest losers i've ever owned.

chinaco 02-26-2008 04:40 PM

Not worth it. Too much free information available on the internet.

CuppaJoe 02-26-2008 05:03 PM

Quote:

Originally Posted by mathjak107 (Post 620612)
i like reading it, it makes my own problems seem not so bad. kind of like watching the loosers on susie orman

Do you know Suzi, like I know Suzi? Oh! Oh! Oh, what a gal.

Yes, one must know Suzi to be culturally literate. I superficially skim her books and believe that she advises women beginning to wise up financially to not only accept the extra $100 in interest from TD AmeriTrade but also asks them to promise they will regularly read one of the magazines like "Money" or "Kiplingers." Wonder what the K guy thinks of "Money."
My "Money" gets skimmed as I open the mail and goes right into the recycling.

I continue to suggest getting financial insight from novels rather than most finance books.

Spanky 02-26-2008 10:48 PM

I read Money magazine at the library. I would not mind paying $10 for a subscription.

GoodSense 02-26-2008 11:24 PM

I subscribed to it last year and am thinking about stopping it. All the stuff I like (personal stories, etc.) is already on their website. The other stuff I don't really care (ie. recommended stocks).

I'll just put the magazines in a box and read them again in a couple of years. I won't remember that I already read them and they'll be like new.

MooreBonds 02-26-2008 11:31 PM

Quote:

Originally Posted by Spanky (Post 621081)
I read Money magazine at the library. I would not mind paying $10 for a subscription.

When I make my weekly trip to the library to return my DVDs and pick up a few more to watch over the coming week, I'll occasionally grab the latest copy of Forbes/Fortune/etc. to browse through.

I did sign up for a 3-year laugh fest subscription to Money about 18 months ago. I usually keep it sitting on the toilet in the bathroom to read a page or two at a time (hey, it helps pass the time :) ). I'm definitely not renewing the subscription when it expires, even though it's $1/issue.

RetireeRobert 02-27-2008 12:13 AM

Quote:

Originally Posted by Orchidflower (Post 620350)
but am not sure Money is worth buying even for the sr. $10 a year rate. I seem to never look or take Money's advice. Am I wrong for thinking this? :confused:

Yes, you are wrong.

For $10 a year what do you expect? For that price it is worth the entertainment value. And sometimes they have interesting travel articles, info on new websites, insurance, and the like. I like to read the personal stories profiles too.

It is worth $10 a year, to answer your original question. $20 a year, I would think twice.

mathjak107 02-27-2008 02:56 AM

we let money mag doing an article on us 2 years ago, it was fun doing the photo shoot and all but they really couldnt find much to change in our portfolio. the big issue was our differing views on long term care.

MONEY Magazine: Money Makeover: Ready for the home stretch - March 1, 2006

Jeb-NY 02-27-2008 06:38 AM

I subscribe to Money but just for the pictures >:D

Jeb

cardude 02-27-2008 12:41 PM

Playboy has some good financial articles..............:o

I used to get OID (Outstanding Investor Digest) back when I was trolling for individual stocks. I don't even know if they are still in business.

The best reading to learn about general investing, IMO, are the Chairman's Letters and the annual reports of Berkshire Hathaway. However, they don't have any information about mutual funds or any other detailed "how too" stuff at all, so it they actually may not be helpful for day to day stuff.

Shareholder Letters

CuppaJoe 02-27-2008 01:31 PM

Quote:

Originally Posted by mathjak107 (Post 621107)
we let money mag doing an article on us 2 years ago, it was fun doing the photo shoot and all but they really couldnt find much to change in our portfolio. the big issue was our differing views on long term care.

MONEY Magazine: Money Makeover: Ready for the home stretch - March 1, 2006

I agree with your views on long term care. Of course, I've been aware of planners' ideas on it for many years and always heard to consider it at about age 59; well I pretty much became uninsurable at age 57 but don't feel at all nervous about having no long term care insurance.

From my personal experience (small sample) with my mom and others I know, stays in nursing homes, etc. are more likely to be relatively short. There really are a lot of in-home alternatives.

Sarah in SC 02-27-2008 03:19 PM

For the LTC insurance, what I'd want to buy at 60 is a policy that covers in home care, not all that worried about the nursing home coverage, since I'd rather stay at home anyway if possible.

yakers 02-27-2008 03:28 PM

Quote:

Originally Posted by Midpack (Post 620409)
Does anyone think any of the financial magazines are worth a subscription?

Just buy a copy of The Economist and see if you like it. I have had a subscription for about 30 years now. The rest of my information I get on the web. Or I post a question here or at VG diehards board and they don't even charge .5%AUM.:coolsmiley:

Midpack 02-27-2008 04:20 PM

Quote:

Originally Posted by yakers (Post 621397)
Just buy a copy of The Economist and see if you like it. I have had a subscription for about 30 years now. The rest of my information I get on the web. Or I post a question here or at VG diehards board and they don't even charge .5%AUM.:coolsmiley:

I do read The Economist periodically (get it) but I'm not a subscriber. I don't consider it a financial magazine, much broader than that IMHO. Friend of mine is a fanatic reader, and I'd agree with both of you, The Economist is one of the best magazines around. When I'm in an airport facing a long flight, TE is usually what I'll buy for the times I can't just listen/watch my iPod.

Orchidflower 02-28-2008 08:52 AM

I'll have to 3rd that on The Economist. My son gets it by subscription, and I "borrow" his to read.

OldGuy 02-28-2008 12:21 PM

Nords hit it when he wrote, "...it's hard to find a magazine worth paying for when you can read it on the Web."

I/we subscribe to a few magazines: Kiplingers, Cottage Living [unh-unh, not mine he said] & SI (all three are new, for $2/ea/yr courtesy of a crcard mailing), Money (the Classic Comic Book of financial mags), Proceedings (another life member) & the usual newsletters/mags associated with memberships. With more periodicals now offering electronic versions of their paper issues, why stick with paper? Why subscribe at all?

I just got an email from BoatUS - as a member, I get their monthly magazine. Now they're pushing the electronic version of the mag & want members to opt out of the printed version. And it's really a better way to read their stuff - easy search capabilities, cut-and-paste articles to send/save... I've gone through 2 issues so far, and it's growing on me as a way to read what they've written.

I can see it coming; when will they start to charge for the "privilege" of getting a printed copy in the mail? The conversion to e-magazines may give some of us old dogs a headache, but doesn't it really make sense to move away from paper?

samclem 02-28-2008 01:27 PM

Quote:

Originally Posted by OldGuy (Post 621759)
I can see it coming; when will they start to charge for the "privilege" of getting a printed copy in the mail?

Well, there's plenty of precedent.

"You say that you want the actual checks you wrote physically mailed back to you after we process them at the bank? Why would anyone want that? Hey, Trixie--come over here and listen to what this guy is asking us to do."

Milton 02-28-2008 01:51 PM

Quote:

Originally Posted by TeeRuh (Post 620376)
Would definitely admit that a lot of the material is "same ol-same-ol" and articles tend to become somewhat redundant.

Just like 95% of all magazines (financial and non-financial). Waste of time and money IMHO; but if you find it entertaining reading, then $10 p.a. doesn't seem like a lot.

Lsbcal 02-28-2008 02:50 PM

I'm another one that gets The Economist. The first section I read is Finance because you'll sometimes find good articles that are fairly incisive on economic trends. Articles on other countries give you a decent sense of the world from less of an American-centric prespective.

The rest of the mags I peek at in the library.

Lsbcal 02-29-2008 10:14 AM

"Economist ... targets smart people", I knew there was a reason I subscribe to it: The Economist is beating the odds in the U.S. - MarketWatch

W2R 02-29-2008 10:21 AM

Frank's father subscribed to The Economist, and would leave it for Frank and me to read each week after he glanced through it.

He passed away last Easter, and we miss him dreadfully. Just to add to it, we no longer have The Economist to look forward to each week. If I were to subscribe to a magazine, that would be one to consider.


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