Money Matters

10 Posts in this category
Posted By: CFP&WM On: Nov 11th, 2009 In: General info

Words of Wisdom Still Apply

John F. Kennedy asked of his fellow Americans in his inaugural speech: Ask not what your country can do for you – ask what you can do for your country. This is perhaps more appropriate now then it was when he said it almost 50 years ago.

Currently this country is in a sad state of affairs. Housing prices have

Posted By: CFP&WM On: Nov 4th, 2009 In: General info

Residential real estate may not be at the bottom

Newspapers have reported increasing house sales during several of the last few months. Real estate industry has taken this as a sign that we are at the bottom of the housing market and that things are improving.

Some experts feel this is more of a mirage than the real bottom. Real estate prices are dependent upon supply and demand. There …

Posted By: CFP&WM On: Nov 2nd, 2009 In: Investing

Beware of Bogus E-mail to Obtain Personal Data

The use of e-mail is increasing by all groups, including retirees. Unfortunately criminals are also increasingly turning to e-mail as a means to defraud individuals.

I recently returned to the office after being out of town for three days and checked my e-mail. I found three e-mails that were apparently from Bank of America, Citibank and PayPal, all indicating that …

Posted By: CFP&WM On: Oct 23rd, 2009 In: Financial planning General info Retirement planning

Social Security Beneficiaries May Get Double Whammy

Social Security beneficiaries usually see their monthly benefits increase once a year, based on the cost of living escalators. These have usually been in the range of 1-4% per year. That could change in the next 3 years.

With the current state of the economy, the Congressional Budget Office projects an actual decline in consumer price indexes and expects no …

Posted By: CFP&WM On: Sep 2nd, 2009 In: Financial planning Investing Retirement planning

Understanding Your Investment Costs

In this low interest rate environment and with the stock market having tanked, saving a dollar can be easier than making one. Depending upon the size of your portfolio, cutting your investment costs could save you a bundle.

One client recently said, “What investment cost? I don’t pay any costs.” What he meant was that he did not know he …

Posted By: CFP&WM On: Aug 7th, 2009 In: Beware - Horror stories My soap box

High Rate CD Offer with Strings Attached

I recently had a newspaper clipping mailed to me by a client.  It was an advertisement for a high yielding CD, safe, FDIC insured, etc. After reviewing the “fine print,” we found that it was an introductory offer of 5% for 3 months and no mention of the rates after that.  There was a $10,000 maximum limit as well.  We …

Posted By: CFP&WM On: Aug 7th, 2009 In: My soap box

Bank of America Lies to its Stockholders and Pays $33 Million Fine

While seeking stockholder approval of the deal to acquire Merrill Lynch, the Bank of America told its shareholders that Merrill would not pay year-end bonuses to its executives. But the bank had actually already reached a deal with Merrill Lynch that allowed it to pay $5.8 billion dollars in bonuses. This type of information must be disclosed under financial regulations …

Posted By: CFP&WM On: Jul 27th, 2009 In: Financial planning General info My soap box

Consumers would benefit if we call “A Spade a Spade”

76% of those surveyed did not know the difference between a sales representative of a Broker Dealer and that of a Registered Investment Advisor. The reason is the term “financial advisor’ is often utilized by stockbrokers, insurance agents and others who are looking to sell you a product.

A “broker dealer representative” is a salesman of stocks, bonds and mutual …

Posted By: CFP&WM On: Jul 8th, 2009 In: Financial planning General info Investing Retirement planning

NAPFA Launches Consumer Education Series to Help Americans Better Understand Personal Financial Issues

The National Association of Personal Financial Advisors (NAPFA), the country’s leading professional association of Fee-Only financial advisors, is gearing up to further educate people on a variety of topics in an effort to help Americans become educated consumers of financial planning advice and products.

The Consumer Webinar Series is a year-long initiative beginning August 7, 2009 that will provide an

Posted By: CFP&WM On: Jul 8th, 2009 In: General info Investing My soap box

Research Confirms: Now is a Time to be Investing

Recent research shows that investors who begin investing during bear markets do better over the long run than investors who begin in bull markets.  T. Rowe looked at four different thirty-year periods, two of which that started with bear markets (1929 and 1970) and two that began with bull markets (1950 and 1979). They looked at the difference in the