The massive spending bill just signed into law, I will call it the “ACT”, contained several changes to the federal tax code. Though the general definition of a tax is a fee imposed by government on its members to cover expenses, the purpose of taxation goes far beyond the funding of government. Were it not…
DetailsThe spending bill going through congress known as the Inflation Reduction Act (ACT- don’t get me started on the name), has caused confusion among investors as to how it may affect their assets. The ACT calls for a minimum 15% tax on major corporations. It also imposes a 1% tax on stock buybacks. Several estimates…
DetailsResearch by a major financial firm revealed that teenagers today are much less prepared than their parents were to make good financial decisions. The study showed that parents are not teaching their children about money, nor is there much effort in public schools to do so. The research is discouraging because poor financial skills can…
DetailsI recently wrote about the Fed’s fight against inflation. Raising interest rates creates pain, but likely far less pain than runaway inflation. So, let’s see if the plan is working. I saw the effects of runaway inflation while visiting Zimbabwe years ago. In the storefronts were government issued signs that said it was illegal to…
DetailsI would like to deviate just today and give a brief glimpse into the life of a financial advisor. Understanding what we do may be beneficial to those who may one day seek the services of a Certified Financial PlannerTM, or consider becoming one. People initially come to us because they want to make sure…
DetailsA contractor at my house told me he needed to raise his prices because supply costs had gone up dramatically. He made a comment that caught my attention saying, “The solution to inflation is simple. Rather than sending out little stimulus checks, the government should just give everyone a million dollars and we would all…
DetailsI visited a high-rise hotel with floor to ceiling windows. As I looked out the window, I was suddenly hit with my fear of heights that had me quickly stepping away. After a moment I slowly approached again, trying to overcome my fear so that I could see the beautiful view. The following day, I…
DetailsIt’s been a tough year but in many ways it has been necessary, and good. Obviously, the news focuses continually on the challenges facing the economy. I think the four biggest are inflation, the labor shortage, supply chain issues and higher interest rates. Our main economic issue today is inflation and that is significantly driven…
DetailsAs a CFP® professional, sometimes I feel like the doctor who, when a stranger learns their career, they immediately pull up their pant leg and say something like, “Well Doc, while I’ve got you here would you mind taking a quick look at this thing.” During tough stock markets like we’ve had the past few…
DetailsRecent investment news has focused on the Federal Reserve(Fed) raising interest rates to combat inflation. So, what does that mean and how might it affect average Americans? The Fed was established by congress in 1913 in an effort to create a stable banking system. It was initially given three main purposes, two of which being…
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