Financial Planning Blog
Retirement Planning Seminar Addresses Four Concerns
Financial planning for high-net-worth retirees is not what it used to be. Increasingly, even seniors with assets of $2-5 million wonder if they will run out of money during retirement.
Why are the affluent worried about money?
It is the result of:
(Note: This is a modified version of a letter that was emailed to clients of Brock and Associates on January 18, 2014).
Last year was one of the worst years for precious metals in a long time. Specifically, with regard to silver, specifically, its drop is not surprising given its tendency for negative correlation with the stock market (This is one reason we recommend it). Its price decline has created a silver buying opportunity. Let's take a look at why we believe this is the case.
For those seeking a different explanation of why Obamacare has had difficulty gaining traction, the Federalist Papers Project offers this video.
Most days, I love the Internet. But, occasionally, I long for the good ol' days when keeping up with the news meant getting an early morning delivery of the Wall Street Journal.
Everything is faster now, and "everything" has expanded. There are so many news sources, bloggers, newsletters, commentator, and others, that it can take a considerable amount of time to check in with all of them.
IMF working paper not encouraging
Are we in denial? It would appear so. In an International Monetary Fund working paper (Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten) the abstract begins with, "Even after one of the most severe multi-year crises on record in the advanced economies, the received wisdom in policy circles clings to the notion that high-income countries are completely different from their emerging market counterparts."
If you earn a substantial income, your rates are probably going up—both in 2013 and 2014
During the month of December, there is never a shortage of articles about tax planning and changes in tax laws during the month of December. This year did not disappoint. Here are a few articles that may be of interest to you:
Fox News Anchor takes on the White House
It used to be (I know, I am showing my age) that the news stations reported the news. Increasingly, reporters are either making the news, or responding to others who attack the way that they report the news. Regardless of one's perspective, the current environment is more interesting to watch.
Will it spread?
I was talking to a married couple at one of our recent seminars. They were nearing retirement. In today's world, they might be considered financially comfortable, but not wealthy.
They were concerned. They wanted to do "everything right" to avoid slipping out of the comfortable zone. Perhaps you do too.
In Hank Brock's book, Dominoes of Destruction, he identified 14 potentially devastating economic problems facing Americans. He suggested that if one problem reached a tipping point, its fall could lead to the collapse of the next—just like dominoes.
Was this a birthday to celebrate?
Did you celebrate the 100th birthday of the U.S. income tax last Friday? In case you missed it, here is a letter to the income tax. Remember, that despite all the hubbub about the debt ceiling and default, taxes are still being withheld from our pay. According to this article on CNBC, federal revenues might be as much as $4.9 trillion in 2014 ($408 billion a month). Annually, that is the equivalent of $15,610 for every man, woman, and child in America.