Spare Change

Money Tip

If those eight meatpackers who recently won the Powerball jackpot invest in Treasuries or CDs, after taxes they’d each get $487,500 a year. But by investing the windfall in a mutual fund holding top-quality municipal bonds, they’d each earn $690,000 a year tax-free.

Tax Watch

The rapid-refund tax anticipation loan is a trap that can cost you hundreds of dollars. The effective annual interest rate can range from 40 percent to 700 percent, and can soar as high 1,800 percent if you include application and administrative fees. About one in 10 taxpayers took advantage of these loans in 2004 and collectively lost about $1.6 billion in the process.

Market Tip

In a globalized world, investors should have more international investments to be truly diversified. While a 10 percent exposure to foreign investments was once considered a lot, some experts say that should now be 20 percent or more.

Net Nugget

Access to insider stock trading information can sometimes provide hints of when to purchase or sell a stock. But many people find insider trading something of a mystery, and may not understand what it entails or the legalities involved. Here is some help:

www.market watch.com/ tools/quotes/ insiders.asp

Enter stock symbol or person’s name to access recent insider information.

www.investo pedia.com/ terms/i/insider trading.asp

Offers explanation of insider trading.