Are you moving in retirement? If so, look back at this piece I wrote on January 22 of 2016. Don't move to one of America's "Tax Hells." Is your state a tax hell? Some states pile on the tax burden, adding double digit percentage demands on top of their residents' federal tax loads. New York, unsurprisingly, takes the cake with a 12.7% tax burden. Some of the other leading states may surprise you with their heavy toll. The Tax Foundation writes: Tax burdens go beyond tax collections. Taxpayers pay state and local taxes to their own state of residence, but also pay taxes to other … [Read more...]
RAGE Gage September: Imagine Interest Rate Levels in a Year
September's RAGE Gauge was little changed from the previous month. Fast forward for a moment and imagine where interest rates will be one year from today. Because yesterday, the Federal Reserve increased rates for the third time this year and the eighth since late 2015 and has basically said expect much more to come. There is a Titanic like shift underway with bonds. Wait until corporate bond yields are at a level where finally you won’t need as much of the fois gras stock market, which has been force fed by the likes of Ben Bernanke et al. Imagine the competition stocks will face then, and … [Read more...]
Marijuana: Wall Street’s Next Bitcoin?
When thinking about Wall Street’s marijuana madness, margin of safety doesn’t exactly roll off the tongue. “I believe there’s a great opportunity for our insolvency lawyers in this industry,” said Patricia Olasker, a partner at Toronto-based Davies Ward Phillips & Vineberg LLP. “There are going to be lots and lots of failures.” Jacquie McNish and Vipal Monga report at The Wall Street Journal: Shannon Soqui just quit his Wall Street job to go after what he thinks is a bigger business: selling marijuana the way Mary Kay Inc. sells cosmetics. The 51-year-old banker wants to focus on Qind, … [Read more...]
Will You Outlive Your Money?
Yes, when you ask yourself the question “Will I outlive my money?” it’s true, it doesn’t exactly elicit a warm and fuzzy feeling. Sweaty palms is more like it. But it’s a question we all wonder about, especially after booking Business Class to Paris. Sorry kids! In my first conversation with prospective clients, I can usually tell within about 17-seconds whether or not we’re a good fit. It mainly has to do with a grasp of reality. The cold reality of our recommended draw rate of three to four percent per year can set an early tone. And hearing “the lower the better” most definitely … [Read more...]
Voter Migration and What it Means to Your Family
With November approaching fast, it would pay to reread this piece I wrote on June 5, 2018 highlighting some knowledge shared by Joel Kotkin and Wendell Cox on voter migration. Who needs to redraw state lines when states can be gutted from the inside out? That’s exactly what’s happening across the country to blue states that have abused their power of taxation for far too long. As the story goes, it’s true that demographics favor Democrats but dig a little deeper and you see that it’s geography that favors Republicans. Look at the mass exodus from blue states such as California and the … [Read more...]
Your Retirement Life: How to Discover Your Small Town
With the foliage about to change colors, Fall is the best time to visit the small towns of New England. Read this post I wrote on September 23, 2016 about how to discover your small town. You're about to read the second installment of my brand new series, Your Retirement Life. We are in this together, trying to live a more prosperous, fulfilling life. It ain’t easy. But we can learn from one another. I’d like to hear your story. I hope you like this one. When I was a kid we used to go camping. Not in a fancy RV but, like the good ‘ole days, in a tent. My favorite place to go with my … [Read more...]
Top 10 Ski Resorts 2018: Kill Two Birds with One…Pass
If you’re a skier, it’s never too early to think about snow. One of my favorite websites to peruse is ZRankings, which ranks the best ski resorts in North America. Its creator is Chris Steiner, a regular contributor to Forbes magazine, and a skier who clearly likes to SKI. Check out his Top 10 list for 2018 . Today, thanks to mega-consolidation of ski resorts, it’s not unusual to be able to ski more than a dozen mountains on one pass. For example, you can kill two birds with one stone—Snowbird, in Utah and Loon, in New Hampshire—with the same IKON season pass. Lucky you! The combinations … [Read more...]
Do ETFs Belong in Your Portfolio?
My quick answer is no. Because everywhere I turn there’s yet another ETF being formed and an article espousing their benefits. And with Wall Street firms plastering their names on all sorts of ETFs, the landscape has become littered with products that would feel more at home on the Vegas Strip. Investors be warned: Passive investing basically guarantees benchmark returns. Make sure your portfolio doesn’t rely too much on the wrong measuring stick. As Robert Powell reports in USA Today, it's also a good idea to avoid newly launched ETFs: Well-known, long-established indices are better … [Read more...]
When Governments Compete, Citizens Win
One of the less touted but possibly most significant outcomes of the Trump tax reform was forcing states into greater competition over taxation. States with already high taxes had the sheet pulled off their ugly policies. The tax reform bill stripped those high taxing states of the federal deductions that had masked their inefficient policies. With all states now competing on an even playing field, citizens are getting a first hand look at just how badly their states have been bilking them. At the Cato Institute, Chris Edwards writes that high income earners, who were already fleeing high … [Read more...]
My Personal View on Fidelity Investments for You
Ned Johnson was CEO back in the mid-90’s when I worked at Fidelity Investments. Today the CEO is his daughter Abby. What hasn’t changed at Fidelity is its commitment to invest in technology to help give it an edge. John Tlumacki writes for the Boston Globe: Johnson said that when her father, Ned Johnson, launched FCAT in 1999, the goal was to help clients and employees explore emerging technologies that could help spur Fidelity’s growth. Among FCAT’s more recent initiatives: a virtual reality experiment known as “Cora” — created in partnership with Amazon Web Services — that could provide … [Read more...]
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