When I was a kid, I grew up on a dead-end lane, Baker Lane, but it wasn’t as bad as it sounds. The street hockey games were epic. I remember playing with the bigger kids when they’d have games at one end of the Lane or with my friends at the other end in front of my house. It’d get heated at times, especially when the bigger kids would get into wrestling fights after a play rolling around in a neighbor’s front yard. A little scary to see when you’re little. Why am I writing this to you? Well, I read an article yesterday about how millennials are taking the task of investing into their own … [Read more...]
30-YEAR HIGH: Inflation Hammers American Family Budgets
American families need no reminder that prices are going up, fast. They can see it every time they go to the grocery store, pump gas, pay the rent, or see the doctor. The latest measure of consumer price inflation has just been released, and it came in at a three-decade high of 6.2%. The speed of price increases being felt by Americans under the Biden administration is hurting families. The Wall Street Journal reports: Federal Reserve officials are closely watching inflation measures to gauge whether the recent jump in prices will be temporary or lasting. One such factor is consumer … [Read more...]
The 10 Worst States for Taxpayers if Build Back Better Passes
Just how much of each dollar you earn should the government be allowed to take from you? The modern income tax signed by Woodrow Wilson had the highest income-earners paying a statutory 7% on the income they earned over $500,000. At the time, some states did collect income taxes as well, but nothing like today. If Joe Biden's Build Back Better bill passes, high-income earners will be leveled with high tax rates on income. At the federal level alone over half, 51.4%, of every dollar earned by high-income earners will be redistributed by the government via income taxation alone. If you live … [Read more...]
Your Retirement Life: Come Monday You Went to Work
Happy Monday. Who’s got your back in times like these when everyone’s making money, money, money? Let’s not forget when the music stops, not everyone’s going to have a chair. Like a broken record, there are always more investors than you’d expect who will be pushed to the floor. Happens every time. “It won’t happen to me,” is a common refrain. When I think about how hard most of you have worked to create what you have, I know come Monday, you got up and went to work. And the next week, same thing. Rinse, wash, repeat. That’s a lot of years and a lot of hours. Imagine having to do that all … [Read more...]
HIGHER FEES: The Big Players Are Pushing ESG Investing
Happy Friday. What a week. Can’t help but feel excited for America because, as one client puts it, “Americans have been awoken by the woke.” Here’s what’s on your mind. The race for governor in New Jersey isn’t over. This one’s another stinker as votes seem to appear out of nowhere in the dead of night. News flash to Murphy: NJ’s oppressive taxes keep “residents” in Florida for six months and a day, not NJ. They’ve already decided that calling you their governor is bad for business. Let’s go DeSantis. Looking to get away? Zillow has got a house for you. All of a sudden, the “high … [Read more...]
Your Survival Guy: Simple Prepping for Winter Storms
You know how I feel about technology or algorithms taking over your portfolio. I’m sticking with the four-year-olds. Keep it simple. Sure, Your Survival Guy likes technology, but if I have to get stuff done fast, I write it down on some good ‘ole fashion paper. It’s mobile, it doesn’t need to be charged, and it doesn’t chirp at me when I’m trying to concentrate. Now then, Your Survival Guy has some experience with technological disasters. Take, for example, my most recent one, where there was black smoke rising from my boat. Turns out, a lightning strike hit the VHF antenna that ended up … [Read more...]
BUILD BACK BETTER? Democrats’ Plan Would Reduce GDP, Wages and Jobs
A new analysis of the latest version of Democrats' "Build Back Better," money transfer scheme by the Tax Foundation, finds that the plan will reduce GDP, wages, and jobs. The Tax Foundation's analysts write: Democratic lawmakers in the House of Representatives have advanced updated legislation containing the tax elements of President Biden’s Build Back Better agenda. The draft legislation may be modified before moving to the House floor and differ from the Senate’s version of the legislation. This analysis contains estimates of the budgetary, economic, and distributional impacts of the House … [Read more...]
ZILLOW EXPOSED: You Invest, They Win But Not Always…
"Too risky, too volatile, too narrow..." Is that how you want your investment prospect described? That's what Zillow has called its own home-buying scheme, driven by algorithms. You know that Zillow is looking to flip nearly 7,000 homes it has purchased to exit a business that it probably never should have been in. Laura Forman reports for The Wall Street Journal: Sometimes a ruler gets too ambitious and has to fall on his own sword. So it goes for online real-estate king Zillow ZG -18.12% which, in conjunction with its earnings announcement Tuesday, said it was quitting the automated … [Read more...]
FLIPPING OUT: Zillow Wants to Offload Its Hoarded Homes
You know Your Survival Guy wants you to own your home, not Zillow. I also don’t like the idea of flipping houses, because at some point the music might stop. The virtue of owning your home is you have created shelter for your family and you own it. That’s enough for me. No need to be the next Zillow. Zillow has loaded up on homes, buying 7,000. Now they want to dump them all. Bloomberg reports: Zillow Group Inc. is looking to sell about 7,000 homes as it seeks to recover from a fumble in its high-tech home-flipping business. The company is seeking roughly $2.8 billion for the houses, which … [Read more...]
Your Retirement Life: Living in Vacation Destinations
Here’s a problem that’s not going away—the cost of living in certain vacation destinations is prohibitively expensive. I see this in Newport as well as Key West. When there’s no place for workers to live, what happens to the service industry? When the Fed pumps too much money into the system inflation is the natural result. And when million-dollar houses and then some, are selling sight unseen, there’s too much money in the system. How is that good for places you like to visit or live? It’s not. Read about Newport's housing problems here from Bethany Brunelle of The Newport Daily … [Read more...]
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