Some positive data about Americans’ personal finances comes to us from the American Institute of CPAs (AICPA). They have been reporting a Personal Financial Satisfaction Index on a quarterly basis since 2004. In spite of its name, though, this index is not based on a survey or poll. It is rather a calculation based on…
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One of the most tax-beneficial estate planning changes in recent history was the ability to transfer an unused estate tax exemption from a deceased spouse to his or her surviving spouse. Introduced by the Obama administration in 2011, this capability, known as portability, significantly changed the way trusts are written to shelter estates from estate…
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You may have observed that when you sell most mutual funds before the end of trading on any given day (1 PM Pacific Time), the cash typically shows up in your account the next trading day. This is known as a one-day trade settlement cycle. When you buy funds, the shares appear in your account…
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Remember the billions of dollars of poorly-vetted mortgage-backed securities (MBS) that helped destroy Lehman Brothers and numerous banks (not to mention the world economy) in 2008? This time it’s auto loan-backed securities (ABS) that are setting records. According to Bloomberg Businessweek, $26 billion in subprime ABS bonds were sold in 2016, surpassing the peak reached…
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I don’t suppose worrying is ever a good idea. If there’s something in your life that you are concerned about, and you have the ability to change it, then you can (and should) do so. If you have no control over it, worrying about it won’t improve anything and might even negatively impact your health. …
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It goes without saying that eliminating worries about money is a key component of retirement peace of mind. But while financial security may be necessary for retirement happiness, it is not sufficient. I frequently encounter many new retirees who are having difficulty making the transition from spending forty hours (or more) a week at the…
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