The article How Gen Xers Can Get Their Retirement Saving Back on Track Find more on: http://ift.tt/1Qf2CkK
Steps that may help to address a savings shortfall. Were you born within the years 1965-1980? That makes you a member of Generation X, and it means you are…
The following blog post Fall Financial Reminders 2015 See more on: http://ift.tt/1Qf2CkK
Here are some important things to note as the year 2015 comes to a close. As every calendar year ends, the window slowly closes on some notable financial deadlines and opportunities. Here are several to keep in mind before 2016 arrives.
Terrorism & the Financial Markets was first seen on http://ift.tt/1HV0AEo
Wall Street has the potential to recover quickly from geopolitical shocks. The worst terrorist attack in Europe since 2004 has rattled governments and investors…
Family Wealth Advisors Holiday Luncheon Was Fun! Read more on: - Biro Financial & Retirement Services
On Tuesday 12/14/15 we invited all of our clients to a holiday luncheon. Some brought friends along to meet Jeff. Alec Young, SunAmerica wholesaler underwrote this event which was catered by sandwiches & salads from Paradise Bakery. Everybody had a wonderful time canoodling & sampling 11 cookie entries–more entries than ever before! 5 judges [...]
The following post The Trans-Pacific Partnership of Twelve Nations was first published on Biro Financial News
How might it affect our economy & Pacific Rim trade? Twelve nations have negotiated a major Asia-Pacific trade agreement…
The following post Key Person Insurance VERY Important For Some Businesses Read more on: Biro Retirement Services
A way for businesses – especially niche businesses – to address a major risk. Who are the people most crucial to your business? Have you taken steps to insure them?
Charitable Lead Trusts Can Reduce Taxes was first published on Jeffrey Biro Financial Planner
How they work, how they may help you reduce taxes. Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating a charitable lead trust…
Transfer on Death or Living Trust? was originally published to http://ift.tt/1zy8js2
A look at two basic methods for shielding assets from probate. How do you keep assets out of probate? If that estate planning question is on your mind, you should know that there are two basic ways to accomplish that objective…
When Parkinson’s Disease Is Diagnosed was originally seen on http://ift.tt/1HV0AEo
Part of a series on how to care for your aging parents. About 60,000 Americans will be diagnosed with Parkinson’s disease this year. Many of them will be baby boomers…
Comprehensive Financial Planning: What It Is… Why It Matters is republished from http://ift.tt/1zy8js2
Your approach to building wealth should be built around your goals & values. Just what is “comprehensive financial planning?” As you invest and save for retirement…
The post Medicare Enrollment Options for 2015-16 was originally seen on Biro Retirement Services
A summary of what you need to know. Key Medicare enrollment periods are approaching. This fall and winter, there are three periods in which Medicare beneficiaries can either enroll or disenroll in forms of coverage…
The following article The End of File & Suspend for Married Couples Find more on: http://ift.tt/1Qf2CkK
A great claiming strategy to try & optimize Social Security benefits disappears. Congress just changed the Social Security benefit rules. On October 30, Capitol Hill lawmakers approved a two-year federal budget deal. As part of that agreement…
The following article 2016 Retirement Plan Contribution Limits Find more on: http://ift.tt/1zy8js2
Tame yearly inflation means very little change. Over the past 12 months, consumer prices have increased very little…
The post Ways to Repair Your Credit Score was first published to Jeffrey Biro Financial Planner
Steps to get your credit rating back toward 720. We all know the value of a good credit score. We all try to maintain one. Sometimes, though, life throws us a financial curve and that score declines. What steps can we take to repair it?
The blog post End-of-the-Year Money Moves Find more on: Biro Retirement Services
Here are some things you might want to do before saying goodbye to 2015. What has changed for you in 2015? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable changes occurred in your personal or professional life, then you will want to [...]
Your Year-End Financial Checklist was first seen on Scottsdale Retirement News
Seven aspects of your financial life to review as the year draws to a close. The end of a year makes us think about last-minute things we need to address and good habits we want to start keeping. To that end, here are seven aspects of your financial life to think about as this year [...]
Dealing With Sudden Retirement Find more on: http://ift.tt/1zy8js2
How ready are you? What if you are laid off or forced into retirement before 65, or even before 60? If that happens to you, what do you do in response now that the next phase of your life is starting sooner than you planned?
Seeing That Mom & Dad Take Their Medications is courtesy of Biro Retirement Services
Part of a series on how to care for your aging parents. How can you make sure that your parents are following their medication schedules? Can you check up on that without feeling as if you are snooping or violating their privacy? You can, and you can do so respectfully. You may have to at [...]
The following post Help When You Inherit an IRA See more on: http://ift.tt/1Qf2CkK
Here are some things to consider when you receive IRA assets. Be sure you understand your options. When the owner of an IRA passes away, his or her heirs must be aware of the rules and regulations affecting Inherited IRAs. Ignorance can lead straight toward a tax disaster.
The post Weekly Economic Update for October 26, 2015 is republished from Biro Financial News
WEEKLY QUOTE “Rules too soft are seldomly followed; rules too harsh are seldomly executed.” – Ben Franklin WEEKLY TIP In retirement, one of your goals should be to grow your assets faster than inflation devalues them. You must sustain your purchasing power. WEEKLY RIDDLE Robert will [...]
Protecting Yourself While Shopping Online was originally seen on http://ift.tt/1zy8js2
What steps should you take? Whether you shop online routinely or infrequently, the risk of identity theft rises as you offer more and more information about yourself online. Avoid using a debit card, and use only one credit card. If your debit card gets hacked, the thieves may be able to access your bank account. [...]
The blog post Retirement Blindspots was originally published on Biro Retirement Services
Some life & financial factors that can be overlooked. We all have a “blue sky” vision of the way retirement should be, yet it helps to plan for retirement with a little pragmatism. Fate may alter the course of our retirement in ways we do not currently anticipate…
The blog post Weekly Economic Update for October 19th See more on: http://ift.tt/1HV0AEo
Jeff Biro Presents: WEEKLY ECONOMIC UPDATE WEEKLY QUOTE“When you make a mistake, there are only three things you should ever do about it: admit it, learn from it, and don’t repeat it.”– Paul “Bear” Bryant WEEKLY TIPA distribution from your workplace retirement plan before age 59½ is usually a bad idea. In most instances, it comes [...]
The blog post Why DIY Investment Management Is Such a Risk See more on: - Biro Financial & Retirement Services
Paying attention to the wrong things becomes all too easy. If you ever have the inkling to manage your investments on your own, that inkling is worth reconsidering. Do-it-yourself investment management is generally a bad idea for the retail investor for myriad reasons…
Life Insurance with Long Term Care Riders Find more on: http://ift.tt/1Qf2CkK
As conventional LTC policies grow costlier, alternatives have emerged The price of long term care insurance is really going up. If you are a baby boomer and you have kept your eye on it for a few years, chances are you have noticed much costlier premiums for LTC coverage today compared to several years ago. [...]
Estate Planning After a Second Marriage was first published to http://ift.tt/1zy8js2
Special considerations for a complex situation. Marrying again makes estate planning more involved. How do you provide for everyone you love? Should you provide for everyone you love? How do you arrange to transfer wealth in a way that won’t hurt the feelings of certain heirs?
The following article Planning for Retirement When You Are Single was first seen on Scottsdale Retirement News
If you aren’t married, you should consider these potential expenses & needs. How does retirement planning differ for single people? At a glance, there would seem to be no difference in the retirement saving effort of an individual versus the retirement saving effort of a couple: start early, save consistently, and use vehicles that allow [...]
The following post The Fed Postponed Raising Short-Term Interest Rates is republished from Biro Retirement Services
On Thursday, the Federal Reserve postponed raising short-term interest rates. Citing “global economic and financial developments” that could “somewhat” impair economic progress and lessen inflation pressure…
Why Life Insurance Matters See more on: http://ift.tt/1zy8js2
Besides the death benefit, it may also help you financially during your life. As a recent Bankrate.com article noted, 43% of Americans have no life insurance. Some view it as optional; some have simply procrastinated when it comes to buying a policy… Related Posts Protecting Yourself While Shopping Online Long-Term Investment Truths You Should Know [...]
Can an IRA Be a College Savings Vehicle? See more on: http://ift.tt/1zy8js2
You might be surprised at its potential. An IRA is a retirement savings account, right? Indeed it is. IRA stands for Individual Retirement Arrangement. Even with that definition, however, there is no prohibition on using an IRA to save for other purposes, such as funding a college education… Related Posts Tax Efficiency in Retirement 2015: [...]
The post Keeping All This Volatility in Perspective Find more on: Biro Retirement Services
These recent ups & downs are reminiscent of past Wall Street swings. Fall might be anything but calm on Wall Street. Volatility is back, in a big way: the CBOE VIX has risen more than 105% since the end of July… Related Posts 2015: A Time for Patience with the Stock Market Tax Efficiency in [...]
The blog post FWA Client Appreciation Night at the Sweet Basil Cooking Class was first published on http://ift.tt/1zy8js2
Last night FWA showed their appreciation to their loyal clients with a tasty French culinary experience.
Saving Early & Letting Time Work for You was originally seen on http://ift.tt/1Qf2CkK
The earlier you start pursuing financial goals, the better your outcome may be. As a young investor, you have a powerful ally on your side: time. When you start saving and investing for retirement in your twenties or thirties, you can put it to work for you. The effect of compounding is huge. Most [...]
The Long Ascent of the S&P 500 was originally published to - Biro Financial & Retirement Services
The index has overcome obstacle after obstacle through the years. No one knows what will happen tomorrow on Wall Street. Even the most esteemed analysts can only make educated guesses. As the old saying goes: past performance is not indicative of future results…
RT http://t.co/vU8I0zqjAa #FinancialPlanning for Unmarried Domestic Partners http://t.co/OFLNTHeodh #Unmarried… http://t.co/jpsCVpbUAQ
— Jeffrey Biro (@JeffreyBiro) September 1, 2015
RT http://t.co/PI0tDZmHqv http://t.co/FOmCW7LFJe #financialplanning nobody wants 2 think about it, but what would our life look like if…
— Jeffrey Biro (@JeffreyBiro) September 1, 2015
RT http://t.co/PI0tDZmHqv http://t.co/FOmCW7LFJe #financialplanning nobody wants 2 think about it, but what would our life look like if…
— Jeffrey Biro (@JeffreyBiro) September 1, 2015
A major global selloff unfolds. Is a bottom near? When will the stock market stabilize? As the last trading week of August began, worried investors wondered just that. Gains for the major indices were hard to imagine at Monday’s opening bell, but few imagined the Dow Jones Industrial Average would drop 1,089 points as trading [...]
The post Riding Out This Volatile Market was originally seen on Biro Financial News
Even the most seasoned investors are prone to their influence. Investors are routinely warned about allowing their emotions to influence their decisions. They are less routinely cautioned about letting their preconceptions and biases color their financial choices. Related Posts Protecting Yourself While Shopping Online China’s Chaotic Market What Does the Devalued Yuan Mean for the U.S.? How Might Higher Inflation Affect Your Investments…
Do Our Biases Affect Our Financial Choices? is republished from Scottsdale Retirement News
What steps should you take? Whether you shop online routinely or infrequently, the risk of identity theft rises as you offer more and more information about yourself online.
The blog post Protecting Yourself While Shopping Online was originally published to http://ift.tt/1HV0AEo
While it has narrowed, a notable inequality remains. Last year, the median weekly earnings for an American woman came to $719. Bureau of Labor Statistics data shows that the median weekly earnings for an American man were $152 higher, or 21.1% more.1
Why Does the Wage Gap Between Men & Women Persist? Find more on: http://ift.tt/1Qf2CkK
A look at China’s unexpected move & its potential impact. China has surprised global investors by weakening the yuan almost 5%. Its central bank may even weaken it further.1,5
The following article What Does the Devalued Yuan Mean for the U.S.? was first published on Scottsdale Retirement News
While it has narrowed, a notable inequality remains. Last year, the median weekly earnings for an American woman came to $719. Bureau of Labor Statistics data shows that the median weekly earnings for an American man were $152 higher, or 21.1% more.1
Why Does the Wage Gap Between Men & Women Persist? Find more on: http://ift.tt/1Qf2CkK
What steps should you take? Whether you shop online routinely or infrequently, the risk of identity theft rises as you offer more and more information about yourself online.
The blog post Protecting Yourself While Shopping Online was originally published to http://ift.tt/1HV0AEo
How can they cope with the financial demands? When many people hear the word “parents,” they picture a couple in their forties… not a couple in their seventies. The reality is that 6% of kids today live in households headed up by grandparents – a parenting situation that may lead to significant financial stress.1 How can grandparents protect their retirement savings? This should be a high priority, even if the children are old enough to work and earn some income for the household. Grandfamilies are frequently pressured to take on new and large debts. Dipping into your retirement savings or refinancing to pay for education costs, a new vehicle, chronic health care treatments, simply the cost of living – this should be avoided if at all possible, and with a little exploration, ways to lessen the monetary pinch may be found. Grandparents should feel no shame about asking for help. If the financial burden is too much, then it is time to explore means of assistance. The cost of rearing a child can be expensive, especially if one or both grandparents work and daycare is needed. A pre-retiree may end up quitting a job (losing household income and retirement savings potential) to care for children full-time. Can state or local agencies pick up some of the tab for child care? That may be a possibility. Free or subsidized child care services are available in many metro areas for grandfamilies in need (you may want to check out childcareaware.org for some resource links). Most states have subsidized guardianship programs offering assistance to grandparents providing a permanent home for grandchildren; the American Bar Association (abanet.org) has information on such resources. Grandfamilies may be eligible for the federal Temporary Assistance for Needy Families (TANF) program, which may provide benefits in cash (typically around $150 per month, but every dollar helps), paid child care, Medicaid, money for clothes, and more depending on the state of residence. Even in higher-earning households, a grandparent can still apply for a child-only TANF grant, which takes just the child’s income into account (some minor children do receive Social Security income).1,2 Is there any way to lessen legal fees? LawHelp.org is a worthwhile national link to low-cost or even free sources of legal aid services. (Some custody situations may require only paperwork that can be reviewed by a lawyer at minor expense.)2 Social Security might be able to help. If a grandchild has at least one parent who has died, become disabled, or retired, then that grandchild may be eligible for Social Security benefits. He or she may also be eligible if a caregiving grandparent retires, dies, or is rendered disabled.2 Medicaid coverage for a grandchild may be possibility. A caregiver (read: grandparent) can apply for it on a child’s behalf if the child resides with a non-parent family member. See cms.gov for more.2 What if you can’t afford private health insurance but make too much for Medicaid? Visit insurekidsnow.org, the website of the federal Children’s Health Insurance […]
The post Grandparents Raising Grandchildren was first seen on http://ift.tt/1zy8js2
A look at China’s unexpected move & its potential impact. China has surprised global investors by weakening the yuan almost 5%. Its central bank may even weaken it further.1,5 Why did the PRC make this move? Its long-booming economy is in a slump. Most notably, Chinese exports have taken a major fall. In July, they were down 8.3% year-over-year. By depreciating the yuan, China is trying to help its exports maintain their competitive edge.2 Some of China’s other economic indicators have also disappointed lately. Chinese imports have retreated for nine straight months, slipping 6.1% for June and another 8.1% in July. The pace of retail sales in China slowed to a 15-year low in July. Producer prices in the PRC suffered their largest annualized slip since 2009 last month. Lastly, the nation’s economy may grow less than 7% this year – which would be the worst showing since the 1990s.1,2 How may this impact America? The effects could be felt in several areas of our economy, and there could be some positives as well as negatives. The Federal Reserve might decide to postpone a rate hike. Our central bank appears committed to raising interest rates before the year ends, perhaps as early as next month. A repeatedly devalued yuan might make the Fed think twice about that, however. China has effectively strengthened the dollar versus the yuan, making Chinese imports to America cheaper. That could lower consumer inflation pressure, and since annualized inflation in this country is already low, there would be less incentive for the Fed to raise rates. That would be bad news for savers but better news for some mortgage holders.3 Consumers could benefit more than businesses. As referenced above, a weakened yuan makes imported goods from China less expensive for Americans. Conversely, it also makes it that much harder for U.S. businesses to sell their products in the PRC, as Chinese consumers will have reduced purchasing power.3 You may see less hiring. A mightier greenback relative to the yuan means new hurdles for U.S. businesses in China, which could cut into earnings growth. While scores of American firms sell directly to Chinese consumers, others have strong ties to Chinese factories: look at Apple, which outsources the production of its iPads and iPhones to the PRC. A devalued yuan essentially whittles down the income U.S. businesses create in China and makes outsourced manufacturing costlier for American firms. You can draw a fairly direct line here: less income and lower earnings for American businesses could lead to slimmer payrolls. In particular, firms in the technology, energy and materials sectors could be impacted.1,3 Oil & gas could become even cheaper. Oil is a dollar-denominated commodity, so a newly weakened yuan will test China’s demand for it. A stronger dollar relative to the yuan means that oil and oil-based products will be costlier in China. The Chinese might react by decreasing oil consumption. If China’s demand for oil lessens, that would help to keep oil prices low […]
The article What Does the Devalued Yuan Mean for the U.S.? is republished from http://ift.tt/1zy8js2
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Values can help determine goals & a clear purpose. Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid what their heirs may do with it. In a 2015 CNBC Millionaire Survey, 44% of families having at least $1 million in investable assets said that they had not yet told their children about their future inheritance. Another 27% said they had refrained from mentioning it until their children were 30 or older.1 It can be awkward to talk about such matters, but these parents likely postponed discussing this topic for another reason: they wanted their kids to grow up with a strong work ethic instead of a “wealth ethic.” If a child comes from money and grows up knowing he or she can expect a sizable inheritance, that child may look at family wealth like water from a free-flowing spigot with no drought in sight. It may be relied upon if nothing works out; it may be tapped to further whims born of boredom. The perception that family wealth is a fallback rather than a responsibility can contribute to the erosion of family assets. Factor in a parental reluctance to say “no” often enough, throw in an addiction or a penchant for racking up debt, and the stage is set for wealth to dissipate. How might a family plan to prevent this? It starts with values. From those values, goals, and purpose may be defined. Create a family mission statement. To truly share in the commitment to sustaining family wealth, you and your heirs can create a family mission statement, preferably with the input or guidance of a financial services professional or estate planning attorney. Introducing the idea of a mission statement to the next generation may seem pretentious, but it is actually a good way to encourage heirs to think about the value of the wealth their family has amassed, and their role in its destiny. This mission statement can be as brief or as extensive as you wish. It should articulate certain shared viewpoints. What values matter most to your family? What is the purpose of your family’s wealth? How do you and your heirs envision the next decade or the next generation of the family business? What would you and your heirs like to accomplish, either together or individually? How do you want to be remembered? These questions (and others) may seem philosophical rather than financial, but they can actually drive the decisions made to sustain and enhance family wealth. Feel no shame in exerting some control. A significant percentage of families seek to define a purpose for transferred wealth. In CNBC’s survey, 32% of parents aged 55 or younger said they were going to specify what their heirs could use their inheritances for, and that was also true for 15% of parents aged 55-69 and 9% of parents aged 70 or older.1 You may want to distribute inherited wealth in phases. A trust provides a great mechanism to do […]
The following blog post Teaching Your Heirs to Value Your Wealth was originally published to Biro Financial News
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What steps should you take? Whether you shop online routinely or infrequently, the risk of identity theft rises as you offer more and more information about yourself online. Avoid using a debit card, and use only one credit card. If your debit card gets hacked, the thieves may be able to access your bank account. But if you use just one credit card for online shopping, you will have only one card to cancel if your card number is compromised. (It would also be wise to keep a low credit limit on that particular card.) Look for the “https://” before you enter personal information. When you see that (look for the “s”), it should indicate that you are transmitting data within a secure site. Depending on your browser, you may also see a padlock symbol at the bottom of the browser window. Watch what you click – and watch out for fake sites. Pop-ups, attachments from mysterious sources, dubious links – do not be tempted to explore where they lead. Hackers have created all manner of “phishing” sites and online surveys – seemingly legitimate, but set up to siphon your information. It is better to be skeptical. Protect your PC. When did you install the security and firewall programs on your computer? Have you updated them recently? Change stored passwords frequently. Make them unique and obscure. It is a good idea to change or update your passwords once in a while. Mix letters and numbers, and use an uppercase letter if possible. Never use “password” or your birth date as your password! Don’t shop using an unsecured wi-fi connection. You are really leaving yourself open to identity theft if you shop using public wi-fi. Put away the laptop and wait until you are on a secure, private internet connection. Hackers can tap into your Smartphone via the same tactics by which they can invade your PC. This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information should not be construed as investment, tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
Protecting Yourself While Shopping Online is courtesy of http://ift.tt/1Qf2CkK
While it has narrowed, a notable inequality remains. Last year, the median weekly earnings for an American woman came to $719. Bureau of Labor Statistics data shows that the median weekly earnings for an American man were $152 higher, or 21.1% more.1 Calculated over the course of 52 weeks, that means the median yearly pay for a man in America was $45,292 in 2014. Median yearly pay for a woman: $37,388.1 The good news, relatively speaking: in the past 35 years, this gap has narrowed. In 1980, women working full-time earned only about 65% of the wages of their male counterparts.2 After all these years, why is there still such wage inequality? Two quick explanations are often put forth. One, there is still appreciable wage discrimination against women in the workforce, with mothers being perhaps most affected. Two, some women accept lower-paying jobs or leave work altogether while staying at home with their kids or taking care of ailing relatives. These factors are certainly present in wage inequality, yet so are others that get less media notice. More women work for low pay than men. Citing BLS data, the National Women’s Law Center notes that more than two-thirds of minimum-wage jobs in this country are held by women. In fact, the NWLC found in 2014 that women made up 76% of employees in the ten most common occupations with hourly wages of $10.10 or lower. Even in these low-salaried jobs, full-time working women still made an average of 10% less than their male co-workers.3,4 As the Great Recession ebbed, these entry-level jobs were an immediate source of work for many women: 35% of the net employment gain for women from 2009-13 occurred in these fields, compared to 18% of the net employment gain for men. As the number of women in these low-wage occupations markedly exceeds the number of men, this is one of the underpublicized reasons for the continuing wage gap by gender.4 Careers in which women predominate pay less than careers in which men predominate. As an example, more than 75% of classroom teachers in America are women (and the median pay for classroom teachers, adjusted for inflation, is essentially where it was in 1970). Only recently have initiatives emerged to encourage women to enter “STEM” career fields (careers rooted in science, technology, math and engineering), which are male-dominated and comparatively high-salaried.5 It may be argued that a teacher contributes much more to society than a software engineer, but that argument is not bolstered by the pay gap between those careers. Looking at Payscale.com, the average salary for an elementary school teacher is $40,311 while the average software engineer earns $63,080.6 Women do a lot of unpaid work. A mother earns no salary for raising children; a wife earns no salary for taking care of a disabled or seriously ill spouse or partner. Historically, women have left the office to perform this work to greater degree than men have. This tendency also contributes to the wage gap, […]
The article Why Does the Wage Gap Between Men & Women Persist? is republished from http://ift.tt/1Qf2CkK
Two-thirds of us have no financial plan.
Only 48% of Americans say they think they are saving enough. And 30% feel that they are not even slightly confident that they are saving enough for retirement. That finding comes from the 2015 Consumer Financial Literacy Survey conducted by the National Foundation for Credit Counseling. (The survey collected data from 2,017 U.S. adults.)1
Only 40% of us keep a regular budget. If you are one of those two out of five Americans, you’re on the right track. While this percentage is on par with findings going back to 2007, the study also finds that only 29% of Americans are saving any part of their annual income towards retirement.1
Relatively few seek the help of a financial professional. When asked “Considering what I already know about personal finance, I could still benefit from some advice and answers to everyday financial questions from a professional,” 75% of respondents agreed with the statement. Yet only 12% indicated that they would seek out the help of some sort of financial professional if they had “financial problems related to debt.” While it isn’t surprising to think that 25% of respondents would turn to friends and family, it may be alarming to learn that 18% would choose to turn to no one at all.1
Why don’t more people seek help? After all, Americans of all incomes and savings levels certainly are free to set financial goals. They may feel embarrassed about speaking to a stranger about personal financial issues. It may also be the case that they feel that they don’t make enough money to speak to a professional, that a financial professional is something that millionaires and billionaires have, not the average American worker. Another possibility is that they feel that they have a good handle on their financial future; they have a budget and stick to it, they save in an IRA (like a quarter of Americans), or a 401(k) (nearly three out of ten Americans), and many use other investments (30%, according to the survey). But that 75% admission above indicates that a vast majority of Americans are not as confident.1
Defined goals lead to definite plans. If you set financial objectives and plan for them, you vault ahead of most Americans – at least according to these findings. A written financial plan does not imply or guarantee wealth, of course; nor does it ensure that you will reach your goals. Yet that financial plan does give you an understanding of the distance between your current financial situation (where you are) and where you want to be.
How much planning have you done? Retiring without a financial plan is an enormous risk; retiring with a financial plan that hasn’t been reviewed in several years is also chancy. A relationship with a financial advisor can help to bring you up to date about what you need to do, and provide you with more clarity and confidence when it comes to the financial future.
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations.
1 – http://ift.tt/1eBf561 [4/15]
The post Is America Prepared to Retire? appeared first on http://ift.tt/1zy8js2
Some people make money moves that may get them in trouble.
Americans do many things with their money and invested assets, most of them on the up and up. There are exceptions, however – cases in which people unintentionally break the law, flirt with illegal behavior, or pay federal tax penalties for their indiscretions. Here are a few examples, from the cavalier to the ridiculous.
Rounding up income on a mortgage application. Maybe a prospective homebuyer (or homeowner looking to refinance) anticipates a raise or bonus later this year. Or his or her spouse does. Maybe they should “err on the high side” in stating their incomes. Maybe it would help them. Come to think of it, maybe they should “err on the low side” in stating their debt.
The days of “liar loans” are gone, but this kind of thing is still perilous. These are mortgage industry basics; lenders routinely examine them. While huge numbers of Americans arguably committed some degree of mortgage fraud in the 2000s and went unpunished, that fact should not lead anyone to be so casual about basic facts of their financial life. More than rejection of a mortgage app could result.
Signing a check in someone else’s name. This is illegal in most states; this is forgery. What if an elder can no longer sign a check, and a relative attempts to mimic their signature or just writes that elder’s name in his or her own handwriting style? What if Mom or Dad does the same sort of thing on a check from their son or daughter’s checking account? It still amounts to forgery.1
Overestimating non-cash donations to a charity or non-profit. Someone donates a minivan to a food bank. In the donor’s mind, that minivan is worth $6,500. That was what they paid for it used. Well, some time has passed since then. The Blue Book value (fair market value) of said minivan turns out to be substantially less now – but the donor reports its value to the IRS at $6,500. If the IRS disagrees (and it very well might, assuming decent documentation is available), the donor might be in for a tax penalty.
Forgetting to report 100% of income. Some people intentionally misstate their incomes to the IRS, and other people just neglect to report miscellaneous forms of income like royalties, freelancer payments, dividends, prizes, and so on. A penalty may await them.
The chances of forgetting the odd W-2 or 1099 form rise when a taxpayer moves during a year or works several jobs. Tips must also be taken into account when filing a federal tax return; the IRS provides Form 4137 to help individuals determine any additional Social Security and Medicare taxes they may owe as a result of tips and wages not reported on an individual’s W-2 statement.2
Years back, the federal government actually studied underreported income by occupation. Restaurateurs, clothing store owners and auto dealers were most prone to this.3
Forgetting estimated tax payments. If an individual’s freelance income is significant enough that he or she expects to pay more than $1,000 in taxes from such activity, then estimated tax payments must be made quarterly to the IRS. Penalties may be triggered if quarterly deadlines are ignored.2
Deducting too much in business-linked expenses. This can also invite an IRS penalty, and business owners, executives, and solopreneurs can fall prey to this common tendency. The IRS finds that less than 7% of such deductions are intentionally overstated or made up.3
Ruining money. Making U.S. paper currency or hard currency unusable is actually a federal crime. If someone intentionally or unintentionally defaces, perforates, glues together or mutilates bills or coins to the degree that they can no longer be used in commerce, it is a violation of federal law.1
If you are guilty of negligence, it sure beats being guilty of fraud. The common IRS penalty for a reporting mistake on your 1040 form is 20% of the unreported amount. Contrast that with the 75% civil penalty for tax fraud. Of course, negligence can be viewed as fraud – and that alone should make people think twice about inaccurately stating details of their personal finances.3
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations.
1 – http://ift.tt/1fIBHma [5/21/15]
2 – http://ift.tt/1ShKjSz [4/10/15]
3 – http://ift.tt/1ShKmha [7/23/15]
The post Are You Committing These Financial Illegalities? appeared first on http://ift.tt/1zy8js2
With the Fed poised to gradually raise rates, this is worth considering.
America once experienced something called “moderate inflation.” It may seem like a distant memory, but it could very well return in the second half of this decade.
A remote possibility? Most economists think the Fed will start raising interest rates in late 2015 and take them higher in 2016 through a series of incremental hikes – a march toward normal monetary policy, in which the Fed funds rate ranges between 3-5%. Once the Fed begins tightening, it usually keeps at it – as an example, the central bank raised rates 17 times during 2003-06 alone.1
Keep in mind that there are two forms of interest rates. Short-term interest rates are mainly controlled by Fed policy. Long-term interest rates ride on the bond market’s expectations. Still, short-term rate hikes have an effect on investors as well as lenders. They influence the mood and outlook of Wall Street; they affect interest rates on credit cards, some home loans and short-term savings vehicles.
What if moderate inflation resumes & the Fed reacts? What might higher inflation (and correspondingly higher interest rates) mean for your portfolio? Under such conditions, your investments may perform better than you think.
Equities should still be attractive. The ascent of the federal funds rate should be gradual over the next couple of years, and the market may price it in. A climbing federal funds rate need not become a market headwind. Remember that as the Fed authorized all those rate hikes in the mid-2000s, the market pushed toward all-time highs. When it becomes apparent that the Fed has taken rates too high, then Wall Street tends to adopt a defensive mindset.
Fixed-income investments may hold up well. It is true, long-term bonds may lose market value in a market climate with rising interest rates (though this will eventually promote additional income for investors with patience). Many investors may see wisdom in a fixed-income ladder, which means putting money into fixed-income securities with staggered maturity dates, typically from one to five years away. As interest rates gradually increase, you can gradually take advantage by replacing the shortest-term security with a medium-term or longer-term security. (Some of the other kinds of fixed-income investments, which have been earning next to nothing, may start to become more attractive; we might see interest-earning checking and savings accounts make a full-fledged comeback.)
In the big picture, consider how unimpeded the Barclays U.S. Aggregate Bond Index (in shorthand, the S&P 500 of the bond market) was in prior rising-rate environments. In the six such instances during the past 40 years (and these periods lasted 2-5 years), T-bill rates increased between 2.3-11.9% while the total annual return for the index ranged from 2.6-11.9%, with most of those total returns varying between 4-6%. For the record, the index posted a total return of 5.97% in 2014.2
So, gradually increasing inflation might not hold back the return on your portfolio. Your portfolio aside, what steps could you take that may put you in a better financial position as inflation normalizes?
You may want to adjust your spending habits. If consumer prices start rising notably, you may decide to spend less and buy less often. You may want to buy durable goods such as cars now rather than later in the decade. You may also want to make your house more energy-efficient, drive vehicles that get better MPG, and take full advantage of your health care coverage – as energy, fuel, and medical costs often rise faster than others.
You could live with less debt. As determined by Bankrate.com, the average credit card currently carries a 15.91% interest rate. Can you imagine that going higher? It almost certainly will when the Fed makes its move. Credit card interest rates are based on the prime rate; movements in the prime rate closely mirror movements in the federal funds rate. Credit card issuers frequently adjust interest rates upward right after the central bank does.3
Lastly, remember the upside to rising inflation. A larger annual increase for the Consumer Price Index implies a boost in Social Security income for seniors, and rising interest rates will translate to appreciable yields for risk-averse savers.
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations.
1 – http://ift.tt/1VEJqT5 [7/16/15]
2 – http://ift.tt/1HNJdWB [4/23/15]
The post How Might Higher Inflation Affect Your Investments? appeared first on http://ift.tt/1zy8js2
As the world watches, the nation’s government tries to end the downturn.
Investors worldwide worry about the state of China’s equity market. You could argue that these fears have impacted Wall Street as much as the crisis in Greece.
The recent ups and downs of the Shanghai Composite (SSE) have been startling: the 16 trading sessions from June 17-July 9 included daily losses of 6.42%, 7.40%, 5.77%, and 5.90% and daily gains of 2.48%, 5.53%, 2.41%, and 5.76%. To put that in perspective, imagine the S&P 500 gaining or losing 50-130 points a day or the Dow falling or rising 500-1,200 points per session.1
The SSE is now in a bear market – it sank 24% between June 12 and July 4. Before that, it was up a dizzying 149% YTD.2
Is the summer slump in the SSE a measure of lost confidence in China’s economy? If so, will Chinese demand for oil, coal, and other imports weaken even more? The volume of imported goods to China fell 7% from Q1 2014 to Q1 2015.3
China’s government has taken some extraordinary steps to appease investors. Its actions make the Federal Reserve’s 2008 rescue effort look conservative.
Back then, the Fed bought mortgages and securities. The People’s Bank of China is putting its money into equities. It just created a 120-billion yuan ($19.3 billion) market-stabilization fund that the nation’s leading brokerages will use to invest in the largest SSE-listed companies.5,6
On July 8, the China Securities Regulatory Commission barred anyone owning more than 5% of a company from selling their shares for six months. Days earlier, Chinese officials suspended all IPOs, anxious about potential cash outflows from existing SSE-listed firms.4,5
The China Banking Regulatory Commission is now letting lenders roll over loans backed by shares – and it has publicly stated its support for banks extending credit to exchange-listed firms doing buybacks. Meanwhile, the CSRC is embarking on an effort to crack down on “malicious” short selling.2,4
Essentially, Chinese are being told that there is no downside to investing in equities – at least for the moment. (The Chinese government has even urged people to buy shares out of patriotic duty.)2
One major problem has emerged after all this: a shortage of liquidity. Only about half of Chinese firms are trading at the moment.2,4
To some observers, these measures look like overkill given that equities amount to less than 15% of the net worth of Chinese households. (Real estate has long been the favorite investment of the nation’s rising middle class.) To economists and Wall Street analysts, these efforts are welcome correctives needed to soothe global investors as well as Chinese investors.6
The profile of the Chinese investor is changing, and it is changing in a way that might unnerve investors elsewhere. Less than 7% of Chinese own equities (90 million out of 1.36 billion people), but more are entering the market; in May alone, 12 million new retail accounts opened on Chinese exchanges as the SSE surged north. Who are these new investors? Some are college students. The Atlantic reports that 31% of Chinese university students now own equities, about three-quarters of them investing with mom and dad’s money in the process. Others lack higher education – of the Chinese households that opened investment accounts in Q1, only about a third were even headed by high school graduates.2,7
Investors have yet to bail out. Even with its economy slowing and its market rollercoastering, the opportunity China presents is just too great to ignore. Lipper reports that retail investors have directed $3.4 billion into China-focused investment vehicles YTD, representing the largest first-half investment since 2009. While that inflow might weaken or reverse itself in the wake of China’s biggest selloff since 2008, international diversification has its merits – and institutional investors may see a buying opportunity. As fund manager Yu Zhang told Reuters, “We’re not sure how long this volatile period will last, but to me the medium- to long-term outlook for China is still trending up.” 8
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations.
1 – http://ift.tt/1HRbfy3 [7/9/15]
2 – http://ift.tt/1KkdOyw [7/4/15]
3 – tinyurl.com/ntrfw3w [5/25/15]
4 – http://ift.tt/1HRbhpD [7/9/15]
5 – http://ift.tt/1KkdOyA [7/4/15]
6 – tinyurl.com/psnwgpc [7/7/15]
7 – http://ift.tt/TWvdxG [7/9/15]
8 – tinyurl.com/nvmus8j [7/9/15]
The post China’s Chaotic Market appeared first on http://ift.tt/1zy8js2
The NYSE freezes floor trading for more than three hours.
Floor trading was abruptly halted at the New York Stock Exchange Wednesday. At 11:32 am EST, a sudden problem forced the NYSE to interrupt trading in all symbols and cancel all open orders in its main market. Trading continued, meanwhile, on the NYSE Arca Options and NYSE AMEX/Arca Options platforms, and the NASDAQ continued trading of NYSE-listed shares.1,2
The stoppage continued until the final hour of the trading day: floor trading resumed shortly after 3:00pm EST with closing auctions proceeding as normal.3
Was it a cyberattack? A U.S. government official told the Washington Post that there was “no indication” of terrorism, and the NYSE also said no, attributing the halt in trading to an “internal technical issue.”1,2
Still, Wednesday morning saw some other strange happenings – the Wall Street Journal’s website went down for a spell at approximately the same moment, and hours earlier, United Airlines had to ground all flights temporarily because of what it deemed “a network connectivity issue.”1,2
Tuesday night, the notorious hacker group Anonymous posted a tweet that read “Wonder if tomorrow is going to be bad for Wall Street…we can only hope.”2
Reuters reported that the FBI, the Treasury Department and White House were all monitoring the shutdown Wednesday, with the FBI simply stating that “no further law enforcement action is need at this time.” Securities & Exchange Commission Chair Mary Jo White told Reuters that it was “in contact” with the NYSE and keeping tabs on the problem.2,4
The trading freeze had little immediate impact on retail investors. As UBS director of floor operations Art Cashin cautioned CNBC, “This will not cause a move in any particular direction, so I would kind of wait it out and see what happens.” The day was certainly frustrating for institutional investors, triggering memories of the 2013 NASDAQ “flash freeze” and the exasperating Facebook IPO of 2012.2
One of the leading reasons why floor trading took so long to resume might surprise you. When the NYSE froze trading Wednesday morning, all open orders had to be called off manually – an archaic repair given that NYSE floor trading amounts to about a quarter of the exchange’s composite volume.5
“Is the NYSE technologically the most (robust) exchange in the world? No,” Themis Trading principal Sal Arnuk explained to CNBC. “The fact of the matter is the different exchange operators have diverse standards, different architecture. Some of them are more legacy than others.”4
As the afternoon progressed, the NYSE tried furiously to enable floor trading before the close, as volume notably escalates at the end of a trading day. They succeeded, restoring some sense of “business as usual” while Wall Street again pondered its necessary and fragile relationship with technology.
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations.
1 – http://ift.tt/1VpgK0q [7/8/15]
2 – tinyurl.com/otqw7gr [7/8/15]
3 – http://ift.tt/1OuvcPT [7/8/15]
4 – http://ift.tt/1VpgKgF [7/8/15]
5 – tinyurl.com/nonlszo [7/8/15]
The post Another Glitch Hits Wall Street appeared first on http://ift.tt/1zy8js2
If you are between 40 & 60, beware of these financial blunders & assumptions.
Between the ages of 40 and 60, many people increase their commitment to investing and retirement saving. At the same time, many fall prey to some common money blunders and harbor financial assumptions that may be inaccurate.
These errors and suppositions are worth examining, as you do not want to succumb to them. See if you notice any of these behaviors or assumptions creeping into your financial life.
Do you think you need to invest with more risk? If you are behind on retirement saving, you may find yourself wishing for a “silver bullet” investment or wishing you could allocate more of your portfolio to today’s hottest sectors or asset classes so you can catch up. This impulse could backfire. The closer you get to retirement age, the fewer years you have to recoup investment losses. As you age, the argument for diversification and dialing down risk in your portfolio gets stronger and stronger. In the long run, the consistency of your retirement saving effort should help your nest egg grow more than any other factor.
Are you only focusing on building wealth rather than protecting it? Many people begin investing in their twenties or thirties with the idea of making money and a tendency to play the market in one direction – up. As taxes lurk and markets suffer occasional downturns, moving from mere investing to an actual strategy is crucial. At this point, you need to play defense as well as offense.
Have you made saving for retirement a secondary priority? It should be a top priority, even if it becomes secondary for a while due to fate or bad luck. Some families put saving for college first, saving for mom and dad’s retirement second. Remember that college students can apply for financial aid, but retirees cannot. Building college savings ahead of your own retirement savings may leave your young adult children well-funded for the near future, but they may end up taking you in later in life if you outlive your money.
Has paying off your home loan taken precedence over paying off other debts? Owning your home free and clear is a great goal, but if that is what being debt-free means to you, you may end up saddled with crippling consumer debt on the way toward that long-term objective. In June 2015, the average American household carried more than $15,000 in credit card debt alone. It is usually better to attack credit card debt first, thereby freeing up money you can use to invest, save for retirement, build a rainy day fund – and yes, pay the mortgage.1
Have you taken a loan from your workplace retirement plan? Hopefully not, for this is a bad idea for several reasons. One, you are drawing down your retirement savings – invested assets that would otherwise have the capability to grow and compound. Two, you will probably repay the loan via deductions from your paycheck, cutting into your take-home pay. Three, you will probably have to repay the full amount within five years – a term that may not be long as you would like. Four, if you are fired or quit the entire loan amount will likely have to be paid back within 90 days. Five, if you cannot pay the entire amount back and you are younger than 59½, the IRS will characterize the unsettled portion of the loan as a premature distribution from a qualified retirement plan – fully taxable income subject to early withdrawal penalties.2
Do you assume that your peak earning years are straight ahead? Conventional wisdom says that your yearly earnings reach a peak sometime in your mid-fifties or late fifties, but this is not always the case. Those who work in physically rigorous occupations may see their earnings plateau after age 50 – or even age 40. In addition, some industries are shrinking and offer middle-aged workers much less job security than other career fields.
Is your emergency fund now too small? It should be growing gradually to suit your household, and your household may need much greater cash reserves today in a crisis than it once did. If you have no real emergency fund, do what you can now to build one so you don’t have to turn to some predatory lender for expensive money.
Insurance could also give your household some financial stability in an emergency. Disability insurance can help you out if you find yourself unable to work. Life insurance – all the way from a simple final expense policy to a permanent policy that builds cash value – offers another form of financial support in trying times.
Watch out for these mid-life money errors & assumptions. Some are all too casually made. A review of your investment and retirement savings effort may help you recognize or steer clear of them.
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations.
1 – http://ift.tt/1yUYgHr [6/25/15]
2 – tinyurl.com/oalk4fx [9/14/14]
The post Mid-Life Money Errors appeared first on http://ift.tt/1zy8js2
A look at the winners, losers & terms.
It looks like Greece will stay in the euro. After eurozone finance ministers pulled an all-nighter, negotiating for 17 hours into early Monday morning, the government of the beleaguered nation accepted the latest bailout terms offered by its creditors. The deal was unanimously approved by the eurozone’s 19 member countries.1
This third bailout agreement contains the harshest austerity measures yet. There was no debt haircut for Greece, and this latest round of relief comes at a remarkable price. In exchange for another $95 billion worth of aid over the next three years, Greece agreed to more than just sales tax hikes and cuts in pension payments – it also agreed to sell off state assets.1
To explain this a bit further, Greece will transfer about $50 billion worth of “valuable” assets into a “guarantee fund”. (This was Germany’s idea.) These assets – likely bank shares that the Greek government will buy up with bailout money in order to recapitalize its banks – will be used as collateral on the latest bailout package. The mission is to sell them in reasonable time, with half the cash going toward repayment of the bailout funds, a quarter toward investment, and another quarter applied to Greece’s national debt.2,3
This yet-to-be-named privatization fund will be based in Greece and run by Greek authorities, but Greece’s creditors will supervise its actions. Greece might have until the mid-2020s (or longer) to sell these assets, as the new bailout loans may have long maturities.3
In the words of French President Francois Hollande, Europe had “a good night, and a good day” – and no Grexit. Who won and lost most in this new deal? 1
The winner: Angela Merkel. Germany is the premier economy in the eurozone and Greece’s biggest creditor, and its chancellor decided enough was enough. Merkel took a very hard line in the negotiations; in fact, Germany, along with Finland, ardently supported throwing Greece out of the eurozone and letting the country take care of its financial problems without any further loans.1,4
Merkel looks very good even after Germany’s apparent conciliation to the pleas of France, Italy and other European Union members that argued for the necessity of a third Greek bailout. As she commented, “The advantages [of the deal] far outweigh the disadvantages.”2
The loser: Alexis Tsipras. Tsipras and his left-wing Syriza party have all but written themselves out of Greece’s future. After disparaging the austerity measures Greeks live with and praising the Greek people for the “very brave choice” they made in voting against another bailout, Tsipras signed off on austerity cuts that were even deeper.
In the end, he simply had to; for all his posturing, two financial shocks would have occurred if he had refused. Without a deal in place, Greece’s banking system could have collapsed this week. Greece also could have found itself out of the eurozone – a danger signal for institutional and retail investors.
Global markets started the week with a relief rally. Monday’s trading day found the Dow, Nasdaq and S&P 500 all rising 1.1% or higher; the STOXX Europe 600, FTSE 100 and Nikkei 225 were also up from 1.0-2.0%. The deal is not set in stone yet – eurozone parliaments must approve it – but the accord just reached relieves much uncertainty.5
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations.
1 – http://ift.tt/1CJOMpV [7/13/15]
2 – http://ift.tt/1HWYRSs [7/13/15]
3 – http://ift.tt/1dVMesP [7/13/15]
4 – http://ift.tt/1TFu0w5 [7/6/15]
5 – markets.wsj.com/us [7/13/15]
The post At Last, a Greek Debt Deal appeared first on http://ift.tt/1zy8js2
