Financial Planning Blog
In some places, you already are
There has been plenty of media attention, and discussion among Americans, about the Social Security problem—namely, the declining ratio of workers contributing to retirees receiving benefits. Although we have mentioned it on this blog, there has been much less attention given to the underfunded pensions. Unfortunately, some pensions may “go broke” before Social Security does.
New name coincides with launch of national expansion
Many people familiar with Brock Financial Consultants are aware of its parent company, Mutual Benefit International Group (MBIG), and its business plan to open a global network of branch offices. That plan is turning into reality and will take place under the Consultus name. In a press release issued on September 23, 2014, Hank Brock announced that Brock Financial Consultants is changing its name to Consultus. The name change was officially announced as taking place on October 15, 2014, but is already starting to show up in a few places. It is also likely that the process will continue after the official transition date.
New Name as MBIG Business Plan Becomes a Reality
The introduction of the Consultus name is taking place as the company begins implementing the MBIG business plan for branch office expansion. On Tuesday, Consultus announced its first permanent branch office outside of St. George. After an extensive search and rigorous screening process, the company announced that Jason Duhon will head up a branch office in Las Vegas, Nevada.
Last Monday marked the deadline for new sign-ups under Obamacare. On Tuesday, April 1st, Andy Friedman appeared on CNBC to discuss the future of Obamacare and the effect it is likely have on the mid-term elections. You may view the segment below.
Hedging geopolitical tensions
Does watching news about Vladimir Putin's Ukraine policies make you nervous? What about North Korea's most recent missile testing? Do you find yourself becoming increasingly anxious when you hear reports that ATMs are in danger of being hacked (see video #2 below)? These are just three current news items that argue for holding some precious metals in your investment portfolio. These are in addition to longer-term reasons such as the continuing devaluation of the dollar, the massive buildup of global debt, and the increasing risk of hyperinflation.
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: