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12 investment mistakes couples make

Personal Finance
If two heads are better than one, do couples have an advantage when it comes to investing?

The reality is that it's difficult enough for two people to share a closet, much less money styles, financial priorities and investing strategies.

As a result, there are a number of couple-related investing errors that planners and attorneys see again and again.

1. Too many accounts
With a lot of couples, investment accounts are spread over a number of banks, brokerage houses and financial institutions.

Result: "It's a little out of control," says Karen Altfest, vice president of New York-based L.J. Altfest & Co. "It's too much for most people to handle."

Andrew Tignanelli, CPA, CFP and president of Financial Consulate Inc., in Baltimore, sees this often when only one spouse is managing the investments. "What happens to your spouse if you're not around, and you have money in seven or eight places?" he says.

When he poses that question to couples, either the light finally dawns or one spouse produces a notebook with directions on where all the money is located, he says.

Still, for a partner who is not used to dealing with investments, going on a financial scavenger hunt is

Oil jumps over $123 on drop in diesel, heating oil supplies

Futures and Commodities
NEW YORK (AP) -- Oil futures extended their seemingly relentless advance Wednesday, rising to a new record near $124 a barrel as investors captivated by the market's upward momentum looked past the government's report of an increase in crude and gasoline supplies. At the pump, gas prices rose for the first time since last week.

Light, sweet crude for June delivery hit a new trading record of $123.93 in after-hours activity on the New York Mercantile Exchange after settling up $1.69 at a record close of $123.53 a barrel.

Analysts attributed oil's rise to continued buying from the surge that pushed prices past $120 for the first time earlier this week. The fact that prices didn't decline sharply after the inventory report was released signaled to some investors that the market was ripe for another rally.

"It shows you that this market ... at times just ignores bearish news," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago. "It's just momentum."

Earlier, oil prices waffled as traders were torn between relief that crude and gasoline supplies are rising and worries about rising demand and falling distillate stockpiles.

The Energy Department's Energy Information Administration said in a weekly report that inventories of distillate fuels, which include diesel and heating oil, fell unexpectedly while gasoline demand rose slightly

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