Ken Himmler.com » Article Only http://kenhimmler.com Wealth Design and Management Fri, 03 Feb 2012 02:14:10 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 2006-2007 admin@kenhimmler.com (Ken Himmler.com) admin@kenhimmler.com (Ken Himmler.com) http://kenhimmler.com/wp-content/plugins/podpress/images/powered_by_podpress.jpg Ken Himmler.com » Article Only http://kenhimmler.com 144 144 Retirement Strategies for Conservative Investors Ken Himmler.com Ken Himmler.com admin@kenhimmler.com no no DOL Begins Crackdown on 401(k) Providers for Fee Bundling Abuses http://kenhimmler.com/2011/08/02/dol-begins-crackdown-on-401k-providers-for-fee-bundling-abuses/ http://kenhimmler.com/2011/08/02/dol-begins-crackdown-on-401k-providers-for-fee-bundling-abuses/#comments Tue, 02 Aug 2011 15:41:52 +0000 Ken Himmler http://kenhimmler.com/?p=997 Federal agency hopes to squeeze plan sponsors and custodians for leaner fees and more disclosure on qualified retirement accounts. Experts warn that Washington retirement plan cops won't tolerate schemes to hide fees any more. After the disasters of the recent recession, the regulators are cracking down on retirement plans that trick workers into buying more expensive mutual funds or paying big hidden administration fees.

The opening salvo: business owners who sponsor 401(k) plans now have until next June to itemize every cent their employees pay third-party service providers and prove that it was the best deal they could get. Otherwise, they're looking at audits and potentially crippling fines.
 

As a result, service providers who were traditionally unwilling to break down their opaque "bundled" pricing — the all-in-one administrators, record keepers and custodians — are now staring down the barrel of a gun. "New fee disclosure regulations will erase much of the advantage on bundling fees," says Louis Harvey, head of financial industry benchmarking firm DALBAR.
 

The new rules requiring 401(k) sponsors to know and disclose what their participants pay were initially set to take effect on July 16. But the Labor Department had to keep pushing back the deadline because the service providers spent most of their time arguing that the transition would take too much work.

The most recent extension, issued just three days before the rules were originally set to take effect, pushes the formal start date all the way to April 1 of next year and gives everyone — vendors and employers alike — an extra 60 days after that to roll out their new account statements
 

 Click HERE to read more.

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]]> Federal agency hopes to squeeze plan sponsors and custodians for leaner fees and more disclosure on qualified retirement accounts. Experts warn that Washington retirement plan cops won't tolerate schemes to hide fees any more. After the disasters of the recent recession, the regulators are cracking down on retirement plans that trick workers into buying more expensive mutual funds or paying big hidden administration fees.

The opening salvo: business owners who sponsor 401(k) plans now have until next June to itemize every cent their employees pay third-party service providers and prove that it was the best deal they could get. Otherwise, they're looking at audits and potentially crippling fines.
 

As a result, service providers who were traditionally unwilling to break down their opaque "bundled" pricing — the all-in-one administrators, record keepers and custodians — are now staring down the barrel of a gun. "New fee disclosure regulations will erase much of the advantage on bundling fees," says Louis Harvey, head of financial industry benchmarking firm DALBAR.
 

The new rules requiring 401(k) sponsors to know and disclose what their participants pay were initially set to take effect on July 16. But the Labor Department had to keep pushing back the deadline because the service providers spent most of their time arguing that the transition would take too much work.

The most recent extension, issued just three days before the rules were originally set to take effect, pushes the formal start date all the way to April 1 of next year and gives everyone — vendors and employers alike — an extra 60 days after that to roll out their new account statements
 

 Click HERE to read more.

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]]> http://kenhimmler.com/2011/08/02/dol-begins-crackdown-on-401k-providers-for-fee-bundling-abuses/feed/ 0 Should You Pay Off Your Mortgage or Invest? http://kenhimmler.com/2011/01/04/should-you-pay-off-your-mortgage-or-invest/ http://kenhimmler.com/2011/01/04/should-you-pay-off-your-mortgage-or-invest/#comments Wed, 05 Jan 2011 02:46:30 +0000 Ken Himmler http://kenhimmler.com/?p=833 Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear is your need to invest for retirement, your child’s college education, or some other goal. Putting extra cash toward one of these goals may mean sacrificing another. So how do you choose?

Evaluating the opportunity cost
Deciding between prepaying your mortgage and investing your extra cash isn’t easy, because each option has advantages and disadvantages. But you can start by weighing what you’ll gain financially by choosing one option against what you’ll give up. In economic terms, this is known as evaluating the opportunity cost.
Here’s an example. Let’s assume that you have a $300,000 balance and 20 years remaining on your 30-year mortgage, and you’re paying 6.25% interest.  If you were to put an extra $400 toward your mortgage each month, you would save approximately $62,000 in interest, and pay off your loan almost 6 years early.
By making extra payments and saving all of that interest, you’ll clearly be gaining a lot of financial ground.  But before you opt to prepay your mortgage, you still have to consider what you might be giving up by doing so–the opportunity to potentially profit even more from investing.
To determine if you would come out ahead if you invested your extra cash, start by looking at the after-tax rate of return you can expect from prepaying your mortgage. This is generally less than the interest rate you’re paying on your mortgage, once you take into account any tax deduction you receive for mortgage interest.  Once you’ve calculated that figure, compare it to the after-tax return you could receive by investing your extra cash.
For example, the after-tax cost of a 6.25% mortgage would be approximately 4.5% if you were in the 28% tax bracket and were able to deduct mortgage interest on your federal income tax return (the after-tax cost might be even lower if you were also able to deduct mortgage interest on your state income tax return). Could you receive a higher after-tax rate of return if you invested your money instead of prepaying your mortgage?
Keep in mind that the rate of return you’ll receive is directly related to the investments you choose. Investments with the potential for higher returns may expose you to more risk, so take this into account when making your decision.
 
Other points to consider
While evaluating the opportunity cost is important, you’ll also need to weigh many other factors. The following list of questions may help you decide which option is best for you, also visit http://kenhimmler.com/ for more strategies.
·                     What’s your mortgage interest rate? The lower the rate on your mortgage, the greater the potential to receive a better return through investing.
·                     Does your mortgage have a prepayment penalty? Most mortgages don’t, but check before making extra payments.
·                     How long do you plan to stay in your home? The main benefit of prepaying your mortgage is the amount of interest you save over the long term; if you plan to move soon, there’s less value in putting more money toward your mortgage.
·                     Will you have the discipline to invest your extra cash rather than spend it? If not, you might be better off making extra mortgage payments.
·                     Do you have an emergency account to cover unexpected expenses? It doesn’t make sense to make extra mortgage payments now if you’ll be forced to borrow money at a higher interest rate later. And keep in mind that if your financial circumstances change–if you lose your job or suffer a disability, for example–you may have more trouble borrowing against your home equity.
·                     How comfortable are you with debt? If you worry endlessly about it, give the emotional benefits of paying off your mortgage extra consideration.
·                     Are you saddled with high balances on credit cards or personal loans? If so, it’s often better to pay off those debts first. The interest rate on consumer debt isn’t tax deductible, and is often far higher than either your mortgage interest rate or the rate of return you’re likely to receive on your investments.
·                     Are you currently paying mortgage insurance? If you are, putting extra toward your mortgage until you’ve gained at least 20% equity in your home may make sense.
·                     How will prepaying your mortgage affect your overall tax situation? For example, prepaying your mortgage (thus reducing your mortgage interest) could affect your ability to itemize deductions (this is especially true in the early years of your mortgage, when you’re likely to be paying more in interest).
·                     Have you saved enough for retirement? If you haven’t, consider contributing the maximum allowable each year to tax-advantaged retirement accounts before prepaying your mortgage. This is especially important if you are receiving a generous employer match. For example, if you save 6% of your income, an employer match of 50% of what you contribute (i.e., 3% of your income) could potentially add thousands of extra dollars to your retirement account each year. Prepaying your mortgage may not be the savviest financial move if it means forgoing that match or shortchanging your retirement fund.
 
 The middle ground
If you need to invest for an important goal, but you also want the satisfaction of paying down your mortgage, there’s no reason you can’t do both.  It’s as simple as allocating part of your available cash toward one goal, and putting the rest toward the other.  Even small adjustments can make a difference.  For example, you could potentially shave years off your mortgage by consistently making biweekly, instead of monthly, mortgage payments, or by putting any year-end bonuses or tax refunds toward your mortgage principal.
And remember, no matter what you decide now, you can always reprioritize your goals later to keep up with changes to your circumstances, market conditions, and interest rates.
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]]> Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear is your need to invest for retirement, your child’s college education, or some other goal. Putting extra cash toward one of these goals may mean sacrificing another. So how do you choose?

Evaluating the opportunity cost
Deciding between prepaying your mortgage and investing your extra cash isn’t easy, because each option has advantages and disadvantages. But you can start by weighing what you’ll gain financially by choosing one option against what you’ll give up. In economic terms, this is known as evaluating the opportunity cost.
Here’s an example. Let’s assume that you have a $300,000 balance and 20 years remaining on your 30-year mortgage, and you’re paying 6.25% interest.  If you were to put an extra $400 toward your mortgage each month, you would save approximately $62,000 in interest, and pay off your loan almost 6 years early.
By making extra payments and saving all of that interest, you’ll clearly be gaining a lot of financial ground.  But before you opt to prepay your mortgage, you still have to consider what you might be giving up by doing so–the opportunity to potentially profit even more from investing.
To determine if you would come out ahead if you invested your extra cash, start by looking at the after-tax rate of return you can expect from prepaying your mortgage. This is generally less than the interest rate you’re paying on your mortgage, once you take into account any tax deduction you receive for mortgage interest.  Once you’ve calculated that figure, compare it to the after-tax return you could receive by investing your extra cash.
For example, the after-tax cost of a 6.25% mortgage would be approximately 4.5% if you were in the 28% tax bracket and were able to deduct mortgage interest on your federal income tax return (the after-tax cost might be even lower if you were also able to deduct mortgage interest on your state income tax return). Could you receive a higher after-tax rate of return if you invested your money instead of prepaying your mortgage?
Keep in mind that the rate of return you’ll receive is directly related to the investments you choose. Investments with the potential for higher returns may expose you to more risk, so take this into account when making your decision.
 
Other points to consider
While evaluating the opportunity cost is important, you’ll also need to weigh many other factors. The following list of questions may help you decide which option is best for you, also visit http://kenhimmler.com/ for more strategies.
·                     What’s your mortgage interest rate? The lower the rate on your mortgage, the greater the potential to receive a better return through investing.
·                     Does your mortgage have a prepayment penalty? Most mortgages don’t, but check before making extra payments.
·                     How long do you plan to stay in your home? The main benefit of prepaying your mortgage is the amount of interest you save over the long term; if you plan to move soon, there’s less value in putting more money toward your mortgage.
·                     Will you have the discipline to invest your extra cash rather than spend it? If not, you might be better off making extra mortgage payments.
·                     Do you have an emergency account to cover unexpected expenses? It doesn’t make sense to make extra mortgage payments now if you’ll be forced to borrow money at a higher interest rate later. And keep in mind that if your financial circumstances change–if you lose your job or suffer a disability, for example–you may have more trouble borrowing against your home equity.
·                     How comfortable are you with debt? If you worry endlessly about it, give the emotional benefits of paying off your mortgage extra consideration.
·                     Are you saddled with high balances on credit cards or personal loans? If so, it’s often better to pay off those debts first. The interest rate on consumer debt isn’t tax deductible, and is often far higher than either your mortgage interest rate or the rate of return you’re likely to receive on your investments.
·                     Are you currently paying mortgage insurance? If you are, putting extra toward your mortgage until you’ve gained at least 20% equity in your home may make sense.
·                     How will prepaying your mortgage affect your overall tax situation? For example, prepaying your mortgage (thus reducing your mortgage interest) could affect your ability to itemize deductions (this is especially true in the early years of your mortgage, when you’re likely to be paying more in interest).
·                     Have you saved enough for retirement? If you haven’t, consider contributing the maximum allowable each year to tax-advantaged retirement accounts before prepaying your mortgage. This is especially important if you are receiving a generous employer match. For example, if you save 6% of your income, an employer match of 50% of what you contribute (i.e., 3% of your income) could potentially add thousands of extra dollars to your retirement account each year. Prepaying your mortgage may not be the savviest financial move if it means forgoing that match or shortchanging your retirement fund.
 
 The middle ground
If you need to invest for an important goal, but you also want the satisfaction of paying down your mortgage, there’s no reason you can’t do both.  It’s as simple as allocating part of your available cash toward one goal, and putting the rest toward the other.  Even small adjustments can make a difference.  For example, you could potentially shave years off your mortgage by consistently making biweekly, instead of monthly, mortgage payments, or by putting any year-end bonuses or tax refunds toward your mortgage principal.
And remember, no matter what you decide now, you can always reprioritize your goals later to keep up with changes to your circumstances, market conditions, and interest rates.

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]]> http://kenhimmler.com/2011/01/04/should-you-pay-off-your-mortgage-or-invest/feed/ 0 Social Security Buybacks Suspended http://kenhimmler.com/2010/12/13/social-security-buybacks-suspended/ http://kenhimmler.com/2010/12/13/social-security-buybacks-suspended/#comments Mon, 13 Dec 2010 19:02:22 +0000 Ken Himmler http://kenhimmler.com/?p=821 Why is it that the Government moves like molasses when trying to improve but they move at lightning speed to take things away? 

As of yesterday the Department of Social Security has formally suspended Social Security Buybacks.  In looking at how fast our Government has been in getting anything done they have really surprised me. It was only a few months ago that they submitted the request to the OMB.
 
Here is the link to read more about this:
 
 
 
 
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]]> Why is it that the Government moves like molasses when trying to improve but they move at lightning speed to take things away? 

As of yesterday the Department of Social Security has formally suspended Social Security Buybacks.  In looking at how fast our Government has been in getting anything done they have really surprised me. It was only a few months ago that they submitted the request to the OMB.
 
Here is the link to read more about this:
 
 
 
 

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]]> http://kenhimmler.com/2010/12/13/social-security-buybacks-suspended/feed/ 0 More On The End Of The Social Security Buyback http://kenhimmler.com/2010/09/06/more-on-the-end-of-the-social-security-buyback/ http://kenhimmler.com/2010/09/06/more-on-the-end-of-the-social-security-buyback/#comments Tue, 07 Sep 2010 00:36:37 +0000 Ken Himmler http://kenhimmler.com/?p=762 I am finding more and more articles on the end of the Social Security Buyback and this great loophole could soon close.

If you are unfamilar with the buyback process, there is a provision that allows Social Security recipients to withdraw their original application for benefits and to refile. For many retirees, this can increase their monthly income.

A recent article in the Wall Street Journal explains more on how time to file for this provision is running out. Larry Kotlikoff, a Boston University economics professor who has researched the strategy, likens it to finding tens of thousands of dollars or more "just lying on the sidewalk."

That is because to withdraw your original application you must repay all the money Social Security already has paid you—and your spouse. Depending on how long you have been collecting, that can add up to a hefty sum, as your new benefit amount is based on your current age, not the age at which you originally applied for Social Security.

The strategy is particularly useful for retirees considering buying an immediate annuity, which, in return for a lump sum of cash, provides an immediate stream of monthly checks generally set up so a retiree won’t outlive the money.

 

Click here to read more of this article: http://online.wsj.com/article/SB10001424052748704125604575449434163879708.html

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]]> I am finding more and more articles on the end of the Social Security Buyback and this great loophole could soon close.

If you are unfamilar with the buyback process, there is a provision that allows Social Security recipients to withdraw their original application for benefits and to refile. For many retirees, this can increase their monthly income.

A recent article in the Wall Street Journal explains more on how time to file for this provision is running out. Larry Kotlikoff, a Boston University economics professor who has researched the strategy, likens it to finding tens of thousands of dollars or more "just lying on the sidewalk."

That is because to withdraw your original application you must repay all the money Social Security already has paid you—and your spouse. Depending on how long you have been collecting, that can add up to a hefty sum, as your new benefit amount is based on your current age, not the age at which you originally applied for Social Security.

The strategy is particularly useful for retirees considering buying an immediate annuity, which, in return for a lump sum of cash, provides an immediate stream of monthly checks generally set up so a retiree won’t outlive the money.

 

Click here to read more of this article: http://online.wsj.com/article/SB10001424052748704125604575449434163879708.html

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]]> http://kenhimmler.com/2010/09/06/more-on-the-end-of-the-social-security-buyback/feed/ 0 Social Security “Do-Overs” Are Coming To An End http://kenhimmler.com/2010/09/01/social-security-%e2%80%9cdo-overs%e2%80%9d-are-coming-to-an-end/ http://kenhimmler.com/2010/09/01/social-security-%e2%80%9cdo-overs%e2%80%9d-are-coming-to-an-end/#comments Wed, 01 Sep 2010 22:16:02 +0000 Ken Himmler http://kenhimmler.com/?p=754 When it comes time to collect your Social Security benefits, the longer you wait the more you will collect. Of course  you can start collecting Social Security anytime after age 62, but for each year you wait, your payments will increase by 7% or 8%.

"Payments increase about 7% for every year between early retirement age – 62 – and your full retirement age. So if your full retirement age is 65, your payments will increase 7% for each year between 62 and 65, and then an additional 8% for each year between 65 and 70," says Laurence Kotlikoff, a professor of economics at Boston University and co-author of Spend ‘Til the End.

For those who can afford it, waiting to tap into Social Security benefits is definitely a more lucrative bet. However, some people are taking advantage of a provision that allows them to earn even more from their Social Security benefits. Called a do-over, the recipient taps into their benefits at age 62 and invests the funds in a safe investment that earns a decent rate of return for several years, then they pay the money back and pocket the interest earned.

Do-overs were included in the Social Security Handbook to allow those who jumped the gun and started taking benefits at age 62 to correct their mistake. All they have to do is file IRS form 521, pay the benefits they’ve already received back – in full, but with no interest, penalty, or adjustment for inflation – and start taking the larger benefit as if they had waited all along.

Over the last few years, do-overs have become more well known as an investment strategy of sorts. But now the Social Security Administration wants to put a stop to the practice.

"Social Security has sent a proposed regulation to OMB [the Office of Management and Budget] for review that would establish a 12-month time limit for the withdrawal of a retirement benefit application. The proposed regulation would also permit only one withdrawal per lifetime," explains Mark Lassiter, a Social Security Administration spokesperson.

In other words, you’ll now have only one year to change your mind and return your benefits, which makes it less of a strategy and more of a way to correct your mistake. One can assume that was the intention of form 521 all along.

Read more on this important subject in recent AOL Daily Finance article here: http://www.dailyfinance.com/story/social-security-administration-seeks-to-put-an-end-to-do-overs/19613383/

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]]> When it comes time to collect your Social Security benefits, the longer you wait the more you will collect. Of course  you can start collecting Social Security anytime after age 62, but for each year you wait, your payments will increase by 7% or 8%.

"Payments increase about 7% for every year between early retirement age – 62 – and your full retirement age. So if your full retirement age is 65, your payments will increase 7% for each year between 62 and 65, and then an additional 8% for each year between 65 and 70," says Laurence Kotlikoff, a professor of economics at Boston University and co-author of Spend ‘Til the End.

For those who can afford it, waiting to tap into Social Security benefits is definitely a more lucrative bet. However, some people are taking advantage of a provision that allows them to earn even more from their Social Security benefits. Called a do-over, the recipient taps into their benefits at age 62 and invests the funds in a safe investment that earns a decent rate of return for several years, then they pay the money back and pocket the interest earned.

Do-overs were included in the Social Security Handbook to allow those who jumped the gun and started taking benefits at age 62 to correct their mistake. All they have to do is file IRS form 521, pay the benefits they’ve already received back – in full, but with no interest, penalty, or adjustment for inflation – and start taking the larger benefit as if they had waited all along.

Over the last few years, do-overs have become more well known as an investment strategy of sorts. But now the Social Security Administration wants to put a stop to the practice.

"Social Security has sent a proposed regulation to OMB [the Office of Management and Budget] for review that would establish a 12-month time limit for the withdrawal of a retirement benefit application. The proposed regulation would also permit only one withdrawal per lifetime," explains Mark Lassiter, a Social Security Administration spokesperson.

In other words, you’ll now have only one year to change your mind and return your benefits, which makes it less of a strategy and more of a way to correct your mistake. One can assume that was the intention of form 521 all along.

Read more on this important subject in recent AOL Daily Finance article here: http://www.dailyfinance.com/story/social-security-administration-seeks-to-put-an-end-to-do-overs/19613383/

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]]> http://kenhimmler.com/2010/09/01/social-security-%e2%80%9cdo-overs%e2%80%9d-are-coming-to-an-end/feed/ 0 What is RSS? http://kenhimmler.com/2008/09/09/i-accept/ http://kenhimmler.com/2008/09/09/i-accept/#comments Tue, 09 Sep 2008 03:14:58 +0000 Ken Himmler http://kenhimmler.com/?p=12 What is RSS? I’m regularly asked this question and thought it might be worth putting together a page to define RSS and hopefully shed some light on the topic.

Do you want to keep up to date with the latest posts on KenHimmler.com?

In the ‘old days’ of the web to keep track of updates on a website you had to ‘bookmark’ websites in your browser and manually return to them on a regular basis to see what had been added.

The problems with bookmarking

  • You as the web surfer had to do all the work
  • It can get complicated when you are trying to track many websites at once
  • You miss information when you forget to check your bookmarks
  • You end up seeing the same information over and over again on sites that don’t update very often

RSS Changes Everything

What if you could tell a website to let you know every time that they update? In a sense, this is what RSS does for you.

RSS flips things around a little and is a technology that provides you with a method of getting relevant and up to date information sent to you for you to read in your own time. It saves you time and helps you to get the information you want quickly after it was published.

RSS stands for ‘Really Simple Syndication’. Many people describe it as a ‘news feed’ that you subscribe to.

I find the ’subscription’ description helpful. It’s like subscribing to a magazine that is delivered to you periodically but instead of it coming in your physical mail box each month when the magazine is published it is delivered to your ‘RSS Reader’ every time your favorite website updates.

How RSS actually technically works is probably a lesson for another day but the key today is for you to understand why it’s good and how to use it.

Let me say right up front that I’m not the most technically savvy guy going around – but even I can use RSS. At first I found it a little strange to make the change from bookmarking to RSS but I found that when I started that I just couldn’t stop.

How to Use RSS

Get an RSS Reader – The first thing you’ll want to do if you’re getting into reading sites via RSS is to hook yourself up with an RSS Feed Reader.

There are many feed readers going around with a variety of approaches and features – however a good place to start is with a couple of free and easy to use web based ones like Google Reader and Bloglines. Either one will do if you’re starting out (I use Google’s Reader) – as I say there are many others to choose from but to get started either of these are fairly easy to use and will help you work out the basics of RSS.

Both of these feed readers work a little like email. As you subscribe to feeds you’ll see that unread entries from the sites you’re tracking will be marked as bold. As you click on them you’ll see the latest update and can read it right there in the feed reader. You are given the option to click through to the actual site or move onto the next unread item – marking the last one as ‘read’.

The best way to learn how to use either Google Reader or Bloglines is to simply subscribe to some feeds and give it a go. Both have helpful help sections to get you up and running.

Note: other options to tracking websites that you might already be familiar with include using pages like MyYahoo, MyGoogle and MyMSN.

Find Some Feeds to Subscribe to – there are two places to look for a site’s feed:

  1. On the Site
  2. In Your Browser

On Site Subscription
Over the last few years you may have noticed a lot of little buttons and widgets appearing on your favorite sites and blogs. Little orange buttons, ‘counters’ with how many ‘readers a blog has, links called RSS, XML, ATOM and many more.

They come in all shapes and sizes. Here are a few you might have seen:

a

a

]]> What is RSS? I’m regularly asked this question and thought it might be worth putting together a page to define RSS and hopefully shed some light on the topic.

Do you want to keep up to date with the latest posts on KenHimmler.com?

In the ‘old days’ of the web to keep track of updates on a website you had to ‘bookmark’ websites in your browser and manually return to them on a regular basis to see what had been added.

The problems with bookmarking

  • You as the web surfer had to do all the work
  • It can get complicated when you are trying to track many websites at once
  • You miss information when you forget to check your bookmarks
  • You end up seeing the same information over and over again on sites that don’t update very often

RSS Changes Everything

What if you could tell a website to let you know every time that they update? In a sense, this is what RSS does for you.

RSS flips things around a little and is a technology that provides you with a method of getting relevant and up to date information sent to you for you to read in your own time. It saves you time and helps you to get the information you want quickly after it was published.

RSS stands for ‘Really Simple Syndication’. Many people describe it as a ‘news feed’ that you subscribe to.

I find the ’subscription’ description helpful. It’s like subscribing to a magazine that is delivered to you periodically but instead of it coming in your physical mail box each month when the magazine is published it is delivered to your ‘RSS Reader’ every time your favorite website updates.

How RSS actually technically works is probably a lesson for another day but the key today is for you to understand why it’s good and how to use it.

Let me say right up front that I’m not the most technically savvy guy going around – but even I can use RSS. At first I found it a little strange to make the change from bookmarking to RSS but I found that when I started that I just couldn’t stop.

How to Use RSS

Get an RSS Reader – The first thing you’ll want to do if you’re getting into reading sites via RSS is to hook yourself up with an RSS Feed Reader.

There are many feed readers going around with a variety of approaches and features – however a good place to start is with a couple of free and easy to use web based ones like Google Reader and Bloglines. Either one will do if you’re starting out (I use Google’s Reader) – as I say there are many others to choose from but to get started either of these are fairly easy to use and will help you work out the basics of RSS.

Both of these feed readers work a little like email. As you subscribe to feeds you’ll see that unread entries from the sites you’re tracking will be marked as bold. As you click on them you’ll see the latest update and can read it right there in the feed reader. You are given the option to click through to the actual site or move onto the next unread item – marking the last one as ‘read’.

The best way to learn how to use either Google Reader or Bloglines is to simply subscribe to some feeds and give it a go. Both have helpful help sections to get you up and running.

Note: other options to tracking websites that you might already be familiar with include using pages like MyYahoo, MyGoogle and MyMSN.

Find Some Feeds to Subscribe to – there are two places to look for a site’s feed:

  1. On the Site
  2. In Your Browser

On Site Subscription
Over the last few years you may have noticed a lot of little buttons and widgets appearing on your favorite sites and blogs. Little orange buttons, ‘counters’ with how many ‘readers a blog has, links called RSS, XML, ATOM and many more.

They come in all shapes and sizes. Here are a few you might have seen:

a

]]> http://kenhimmler.com/2008/09/09/i-accept/feed/ 0 LeBarge Pictures http://kenhimmler.com/2008/07/20/lebarge-pictures/ http://kenhimmler.com/2008/07/20/lebarge-pictures/#comments Sun, 20 Jul 2008 00:36:26 +0000 Ken Himmler http://kenhimmler.com/?p=50

Thanks to my son TJ the wonderful photographer at age 11

 

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Thanks to my son TJ the wonderful photographer at age 11

 

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]]> http://kenhimmler.com/2008/07/20/lebarge-pictures/feed/ 0 LeBarge Boat Ride http://kenhimmler.com/2008/07/19/lebarge-boat-ride/ http://kenhimmler.com/2008/07/19/lebarge-boat-ride/#comments Sat, 19 Jul 2008 22:56:04 +0000 Ken Himmler http://kenhimmler.com/?p=49 Well besides the sweltering heat of 93 degrees we had a great time on the boat today. We had two great speakers, Cristine Olson from T.I.F.F. and Bruce Riley from Identity Shield. Christine shared her heartfelt story about her daughter and her life mission to make sure no other family has to go through the same ordeal. Thank you very much for sharing with us and creating To Inform Families First   I hope everyone takes advantage of this and goes online to put in your information.  We would really like your comments on the value of this to you. We also heard from Bruce Riley from Identity Shield.  I personally think he had a great presentation and informed all of us on the fastest growing crime “Identity Theft”. We will be hearing more from Bruce on this subject in the near future. Lastly, I spoke about the dreary economic outlook and told everyone about the upcoming webinar on Recession Splitting Strategies. We will be holding this on Thursday July 31, 2008 at 6:30 PM. There is only space for 100 attendees so if you want your spot let us know because it will be on a first come-first serve basis. The formal invitations will be going out next week but if you want to reserve a spot send an email to ken@iamllc.biz and we will put your name on the list. The way it will work is that you can either call in to hear the teleconference or you can log in to watch the video presentation along with the teleconference. Again it was great seeing all of you on the boat and enjoy the pictures and videos in following posts. Ken 

PS We have been told by our email service that a lot of the emails for the invitation to the boat were kicked back. In order to make sure you are getting our emails you have to add our email addresses to your white list or your approved email list. Since we typically send from different addresses to ensure delivery please add *@iamllc.biz   and *@kenhimmler.com  The * is the shift 8 key. This should help to make sure you are getting our emails. Lastly, if you want to get this blog to be automatically sent to our email click on the link in the top left corner and you will begin to get these posts.

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]]> Well besides the sweltering heat of 93 degrees we had a great time on the boat today. We had two great speakers, Cristine Olson from T.I.F.F. and Bruce Riley from Identity Shield. Christine shared her heartfelt story about her daughter and her life mission to make sure no other family has to go through the same ordeal. Thank you very much for sharing with us and creating To Inform Families First   I hope everyone takes advantage of this and goes online to put in your information.  We would really like your comments on the value of this to you. We also heard from Bruce Riley from Identity Shield.  I personally think he had a great presentation and informed all of us on the fastest growing crime “Identity Theft”. We will be hearing more from Bruce on this subject in the near future. Lastly, I spoke about the dreary economic outlook and told everyone about the upcoming webinar on Recession Splitting Strategies. We will be holding this on Thursday July 31, 2008 at 6:30 PM. There is only space for 100 attendees so if you want your spot let us know because it will be on a first come-first serve basis. The formal invitations will be going out next week but if you want to reserve a spot send an email to ken@iamllc.biz and we will put your name on the list. The way it will work is that you can either call in to hear the teleconference or you can log in to watch the video presentation along with the teleconference. Again it was great seeing all of you on the boat and enjoy the pictures and videos in following posts. Ken 

PS We have been told by our email service that a lot of the emails for the invitation to the boat were kicked back. In order to make sure you are getting our emails you have to add our email addresses to your white list or your approved email list. Since we typically send from different addresses to ensure delivery please add *@iamllc.biz   and *@kenhimmler.com  The * is the shift 8 key. This should help to make sure you are getting our emails. Lastly, if you want to get this blog to be automatically sent to our email click on the link in the top left corner and you will begin to get these posts.

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