A hacker recently stole information on 100 million credit card customers from one of the biggest card companies in the world. According to The Wall Street Journal, the hacker was able to access information like "names, addresses, ZIP Codes, phone numbers, email addresses, dates of birth and self-reported income, the bank said. Consumer data including credit scores, credit limits, balances, payment history and some transaction data are also part of the breach. Also exposed were about 140,000 Social Security numbers and 80,000 linked bank account numbers." The victims were customers of … [Read more...]
Follow this Rule to Secure Your Family’s Investment Success
When it comes to fiduciary responsibility, you always, always want to work with a registered investment advisor. As an investment advisor, I am required by law to act in the best interest of my clients. Stock brokers, wealth managers, CFP’s, and any other acronym are not if they’re not a registered investment advisor. They follow a mushy “suitability” law. When it comes to mis-direction and confusion, this industry is shameful. Remember, for you and your family, the key words here are “required and fiduciary”. Take the SECURE Act currently in the meat grinder of Congress. It … [Read more...]
Is Bitcoin a Currency, or an Asset?
Bitcoin speculators are in the midst of another wild ride in the crypto-currency's price, which shot up as high as $13,387.26/bitcoin on June 26 after having settled for months in the $3,500-range. Prices have now fallen back below $9,500 in the span of a month, taking back some, but certainly not all, of what speculators made in the last rally. Something many Americans are confused about is, whether bitcoin is a currency, or an asset. For tax purposes, the IRS is treating bitcoin like an asset. Laura Saunders reports for the WSJ: According to an IRS spokesman, there is no explicit … [Read more...]
Your Retirement Life: What a Great Weekend for YOU to be in Newport
The Newport Folk Festival is this weekend. We were out on the Tom Sawyer last night and could see the tents and stages set up at Fort Adams. The weather predictions are looking perfect, and it would be a great weekend for you to spend your retirement life in Newport. You can check out the lineup here. Originally posted on Your Survival Guy. … [Read more...]
Epic News for Skiers Across the Country!
Big news if you’re a skier in the North Conway area in the White Mountains of New Hampshire. Vail Resorts has agreed to buy Attitash and Wildcat, along with 15 other ski mountains owned by Peak Resorts, Inc. for $264 million making them part of the Epic Pass network of 79 resorts. Now, season pass holders (Epic Pass) at Attitash can use their pass at Vail. This is all about connecting the East Coast to the West. Nice! And the pass is accepted at other New England mountains so if you want a change of terrain, you can ski in the network at places like Stowe or Okemo on the same … [Read more...]
Is There Room for Growth in Presidential Election Year Markets?
Yesterday, I explained the past performance in equities markets during each year of the presidential election cycle. I also noted that the tradition of strong performance during the year before and of the election have broken down somewhat this century. With that in mind, I'd like you to look at the so-called Buffett Valuation Indicator, known as a tool Warren Buffett uses for getting a feel for market under- or over-valuation. The tool is simple, it's the market cap of American stock markets divided by the country's GDP. The higher the ratio, the more likely markets are overvalued, and … [Read more...]
What the Presidential Election Cycle Tells Us about Stocks
As you can see below, the years prior to a presidential election, and the election year itself, tend to be good for stocks as candidates make promises for a new tomorrow. Then, after the honeymoon is over, reality sets in and the bills come due. But twice this century, in 2000 and 2008, stock market performance during election years was not good at all, as hanging chads and “hope and change” polarized investors. And the years before the elections were not much to write home about either. America is currently in the year before a presidential election and, so far, markets are … [Read more...]
Your Retirement Life: Escaping the Heat Wave
You may have experienced a heat wave this summer. Ours was this weekend, all over New England with temps in the 90s and the “real feel” reaching the low 100s. It was a scorcher. There’s no beating the heat, but going out on the boat is a nice break. In the first video I’ll show you what it feels like to leave Newport at cruising speed, with Castle Hill off the port side, the Newport bridge to stern, and Jamestown, RI to starboard (pardon my finger it was hard to hold the phone). In the next video we’re approaching Mattapoisett harbor. You’ll see Ned’s Point lighthouse off … [Read more...]
Are You Fully Invested?
Do you remember how you felt about your portfolio in December? It wasn’t a happy time for stock investors as they watched values crater. Some investors got out of the market all together and felt much better. But they probably missed this incredible stock market of the first half of 2019. Feeling good about investment decisions is oftentimes not good for your portfolio. Everyone wants to be a contrarian. Everyone wants to be the guy that swims against the tide. The one who chooses her own path. But when you know what hits the fan they look for comfort and sell, sell, … [Read more...]
Part II: The IRS is Coming for Your IRA
As you know from my recent post on the SECURE Act, Congress is pulling a fast one on the savers of America. If passed, the “Stretch IRA” will be eliminated for children, grandchildren and other non-spousal heirs. It will require IRAs to be fully distributed (fully taxed) within ten years—no longer over a lifetime. A granddaughter in her mid-20s, for example, will not be able to “stretch” the distributions over her life expectancy and more fully harness the power of compound growth. Anyone and everyone with a tax deferred savings account should be livid. This toxic waste applies to … [Read more...]
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