A power of attorney for a loved one is something you need to have in place ahead of any possible necessity. It should be as much a part of your preparations as storing water or preparing for a wildfire. Christine Fletcher explains some power of attorney clauses you should understand, writing: Many people have signed at least one power of attorney in their life. A power of attorney, which names a trusted family member, friend or advisor as your “attorney-in-fact” to control your assets, is meant to be used if you are incapacitated. For instance, if you have been in a car accident or are in a … [Read more...]

The Biden administration has created a "temporary" new entitlement program giving parents money for having children. Now, in true Democrat fashion, they want to make it permanent. Nick Stehle explains why this entitlement is dangerous in The Wall Street Journal, writing: Deposits of $948 hit my bank account on July 15 and Aug. 13. The money came from the Internal Revenue Service, but it isn’t a tax refund. I shouldn’t be getting this money at all. My family is receiving the new Advance Child Tax Credit Payments, passed by Congress and signed into law by President Biden in March. Under this … [Read more...]

You know I want you to save until it hurts. Now, Fidelity says Americans' 401(k) balances are higher than ever before. Yes, some of that has to do with record-high stock prices, but the other component is that Americans are increasing the amount of saving they're doing. In the second quarter alone nearly 12% of Americans increased their contributions to retirement accounts. Despite inflation, and the urge to go on a COVID shopping spree for pets, exercise equipment, cars, homes, and outdoor sporting goods, Americans are making the decision to put more money away for a future they know is … [Read more...]

You know what Your Survival Guy is buying right now: Beer, bullets, and Burgundy. Because each one is, among other things, a perfect sweetener to your cash. Yes, cash is king, and, with one of the three Bs above added to the mix, you’re immediately elevated to royal status. But for today, let’s talk about your cash. How much should you have on hand? I want you to think about your cash in three ways: You have your emergency stash on hand that you hope to never use. You have cash in your investment portfolio as part of your strategy. To buy stocks when others are selling, for … [Read more...]

ARK Innovation, run by big-name manager Cathie Wood, is being bet against by Michael Burry, of Big Short fame. Akane Otani reports in The Wall Street Journal: A legion of retail traders helped make stock picker Cathie Wood’s flagship fund one of the hottest investments in the past year. Now, some professional investors are betting on its demise. Several hedge funds took out fresh positions in the second quarter betting against Ms. Wood’s actively managed ARK Innovation ARKK +0.37% exchange-traded fund, according to the most recent 13F filings with the Securities and Exchange Commission. … [Read more...]

You wonder what you can do when Joe Biden and the Fed are actively seeking to destroy the value of your savings by pushing up inflation. Wait, you didn't think this inflation was an accident, did you? The Fed has been talking about how it wants to push inflation higher for months, even years. And Joe Biden's answer to the worker shortage is "pay more," which of course means, charge more as well. The reports are in, and their plan is working. Your savings are being crushed. Gwynn Guilford reports on the inflation hitting America in The Wall Street Journal, writing: Inflation remained … [Read more...]