If you want significant reward, you will have to assume some risk. Anyone investing in securities – particularly stocks and funds – must accept that reality. Investing in the markets gives you an opportunity to accelerate the growth of your savings and outpace inflation, and you definitely want that chance – but how do you…
Read MoreAre student loans holding our economy back? Certainly America has recovered from the last recession, but this is an interesting question nonetheless. In a November 2013 address before the Federal Reserve Bank of St. Louis, Consumer Financial Protection Bureau Assistant Director Rohit Chopra expressed that college loan debt “may prove to be one of the…
Read MoreHIRING & MANUFACTURING PICK UP America’s economy created 288,000 new jobs in April, the most in any month since January 2012. Labor Department data showed the jobless rate falling dramatically to 6.3%, largely due to more people abandoning the job hunt. Still, the U-6 rate (unemployment + underemployment) was at 12.3% in April, a 4½-year…
Read MoreI just finished a new book titled, “The Age of Oversupply” by investment banker, Daniel Alpert. His thesis is that the current economic malaise the U.S. and other countries around the world are experiencing is the result of three factors: 1. Oversupply of labor 2. Oversupply of capacity 3. Oversupply of capital He goes into…
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When was the last time you looked at your life insurance coverage? Why not do it now? Life insurance can be a remarkable utility as an estate planning and tax-saving tool. Whether you have no life insurance, or you haven’t reviewed your policy in a while, it is always a good idea to be aware…
Read MoreWhat was once allowed is now prohibited. In 2008, an affluent New York City couple made a series of withdrawals and transfers among contributory IRAs, rollover IRAs and non-IRA investment accounts, all with the long-established 60-day deadline for tax-free IRA rollovers in mind. As esteemed tax attorney Alvan Bobrow and his wife withdrew and rolled…
Read MoreA tax break with an additional benefit. Did you know that, since taking effect in 2010, you are allowed to withdraw money from a certain kind of annuity without paying taxes as long as you use it to pay for qualified long term care coverage? A tax break for these important savings will be of…
Read MoreOn most Saturday mornings I am watching my daughter do Brazilian jiu-jitsu, but this Saturday I had the pleasure of being on the syndicated Bloomberg radio show, “Pro Sports Live” talking about athletes, sudden wealth, and why athletes go broke. Have a listen…
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Mention “bitcoin” to assorted economists or investors, and you may trigger all kinds of associations. To some, it signifies an exciting new reality – a digital currency, with a payment system that could revolutionize finance. To others, it is a volatile commodity – propped up by hype, fraught with risk. It also refers to an…
Read MoreIf you move away from equities with age, are you making a mistake? For some time, financial professionals have encouraged investors to lessen their exposure to the stock market as they get older. After all, a 60-year-old has less time to recover from a market downturn than someone decades away from collecting Social Security checks.…
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