You hopefully read my urgent items on safe deposit boxes and why you should treat your disaster cash like gold. Remember, you have zero downside in being prepared for the unexpected. But, listen-up, it’s also imperative to build and cater your security around your situation. Here’s why. A client emailed me his concerns about safe deposit boxes that you need to read and then apply to your specific situation: E.J., I read about one case where some bank employees pilfered a number of safe deposit boxes and it was difficult to identify the losses as few or no records were available … [Read more...]
Is USMCA Ratification Imminent?
James Politi reports in FT that Congress and the President are close to passage of the USMCA deal that would replace NAFTA. He writes: Nancy Pelosi, the Democratic Speaker of the House of Representatives, has reached a deal with US president Donald Trump to allow ratification of USMCA — the trade pact replacing Nafta whose fate in Congress had been uncertain until this week. Ms Pelosi’s announcement on Tuesday followed months of wrangling with Robert Lighthizer, the US trade representative, and parallel talks with officials in Canada and Mexico to secure changes to the original … [Read more...]
Rich State, Poor State Rankings: This One Tops New England
If you like the mountains (summer or winter) then you need to visit North Conway, NH. Becky and I have a cabin in Bartlett just up the road and have spent a ton of time in North Conway even before we had a home in the area. If you’re a skier you have plenty of slopes to enjoy within 40-minutes or less including Bretton Woods—ranked by Conde Nast Traveler as the #6 resort in the U.S. and Canada. This week Stephen Moore and his partners Arthur Laffer and Jonathan Williams released the 12th edition of their annual Rich States, Poor States report. The best-ranked state in New England was New … [Read more...]
RAGE Gauge: Trump Powers Positivity
My RAGE Gauge shows Americans feeling good about their lives right now. Risk is still elevated but has been trending in a better direction. One place Americans seem to be worried about is their Second Amendment rights. After calls in the Democrat primary for the outright confiscation of guns, Americans started buying firearms at increased rates for the first time in years. FBI data show that November was the first year-over-year increase in the number of background checks for gun sales in well over two years. Unemployment is at a 50-year low, the stock market has been strong, and America … [Read more...]
Your Retirement Life: This State is Dominant Once Again
You’re familiar with my piece Rich Grandchild, Poor Grandchild. Now I want you to shift gears and think about which states are the rich states, and which ones are the poor states. “For each of the past 12 years, Arthur Laffer, Jonathan Williams and I have answered that question in ‘Rich States, Poor States,’ an index of economic competitiveness published by the American Legislative Exchange Council. Every year the top performer has been Utah,” explains Stephen Moore. Yes, that's right, the winner once again is Utah. On a recent ski trip to Utah, my family experienced firsthand why … [Read more...]
The First Question You Should Ask Before Investing
If you are beginning your investment adventure, one of the first questions you may ask yourself is, “how do I diversify my investment portfolio?” Perhaps preceded by, “should I diversify?” While the answers to how you diversify are many, the answer to whether or not you should diversify is easy; yes, absolutely. Diversification can lower your risk and raise your returns at the same time. And diversifying can prevent you from feeling the full effects of a downturn in the prices of any single class of assets. Witness the Raw Power of Diversification Diversification isn’t only a tool to … [Read more...]
RIP Paul Volcker
Former Fed Chairman Paul Volcker has passed away at 92. Volcker is best known for his efforts to tame the runaway inflation of the 70s and 80s. Bloomberg's Binyamin Applebaum and Robert D. Hershey Jr. write of Volcker's career: Paul A. Volcker, who helped shape American economic policy for more than six decades, most notably by leading the Federal Reserve’s brute-force campaign to subdue inflation in the late 1970s and early ’80s, died on Sunday in New York. He was 92. The death was confirmed by Janice Zima, his daughter. Mr. Volcker, a towering, taciturn and somewhat rumpled figure, … [Read more...]
A Tax-Free Savings Plan for Your Grandchild
Pay attention here. When you beat inertia and get on the track to retirement savings, a lot of opportunities tend to come your way. One of those opportunities is having time to focus on other members of your family. When it comes to investing, you and I know the most powerful tool to wealth is compound interest. But it requires time—a commodity in abundance when you're young—and money. That’s where you come in (sorry). You know the path to my rich grandchild, poor grandchild. You have the knowledge and the money (you don’t need a truck load) to teach them in real dollars about compound … [Read more...]
Your Retirement Life: “My life Has Always Been One of Very Good Fortune”
When Fred Cox retired from the NFL in 1977, the placekicker had scored 1,365 points. But his most famous score happened when he was approached by an entrepreneur named John Mattox in 1971, explains The Week. Entrepreneur Mattox wanted Cox to help create a backyard field goal kicking game. In response to Mattox’s prototype (a heavy football), Cox responded, “You’re gonna have a bunch of sore-legged kids.” “Cox asked a friend in the injection molding business to create a prototype,” explains The Week, “the resulting foam pigskin was light, aerodynamic, and a hit with neighborhood … [Read more...]
Preferred Stock vs. Common Stock: What You Need to Know
What is the difference between preferred stock and common stock? Does preferred mean that preferred stock is better than common stock? We explain some of the differences between preferred stock and common stock below. While most investors are familiar with common stock, many are not familiar with preferred stock and how preferred stock differs from common stock. Preferreds have been around for many years though. Preferred stock got its start with the railroads in the 1800s. Preferred stocks aren’t as popular or issued by as many firms as they once were, but the size of the preferred … [Read more...]
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