Freeze!

It’s a good thing I practice what I preach. In late May, my husband, Tom, received a call from Nordstrom saying someone was trying to use his credit card number at their Chicago store. Thankfully, they require a password if you do not have your card in your possession and declined the charges because the imposter did not. The scary thing was that he did have Tom’s social security number. Chase Bank soon called to say a suspicious-looking charge was being attempted on our Visa. I called American Express to make sure there was no… [read more]
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What Do We Really Know?

Many times in conversations I am presented with a concern that begins with ‘well we KNOW that….’ What follows is usually a statement that has been made and repeated enough times in the media that it is now accepted as fact. But sometimes what we think we know to be true may not be true forever. For example, many people express concern that the US has lost manufacturing jobs at a rapid pace over the last decade, and believe we will no longer be a significant, global economic player. In the past, the strong US… [read more]
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Forecasts from the Best

In an industry that has no shortage of soothsayers and crystal ball holders more than willing to go on record as to what will happen in the market, why do we feel so strongly that this is such a waste of time? The easy answer is that no one, not even those viewed as the best of the best, seem to be able to make good predictions over and over again. Bill Gross, the renowned bond investor and Founder of PIMCO, has been in the headlines the last few weeks for missteps that have created… [read more]
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When Television Feeds the Urge to Trade

(from Carl Richard’s New York Times’ Bucks blog, 6/6/2011 – click here for the original post.  Carl  is a Certified Financial Planner in Park City, Utah. His sketches are archived on the Bucks blog and on his personal Web site, www.BehaviorGap.com.)
Traveling last week, I shared some workspace where CNBC played all day on television. For most people, I realize that it’s often comforting background noise. However, since I almost never watch television, I found it amazing how bipolar I felt as they shifted from one commentator to another. Given how wild the… [read more]
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Do You Know Who Will Inherit Your Money?

When you start a new retirement plan at work or roll your money into an IRA account you will not only need to decide what investments to buy, but you also need to name a beneficiary for your account. If there is not a beneficiary named, your account will be distributed to your estate which could cause your heirs to have a much larger tax burden. Many people do not realize the importance of their beneficiary designation. I was just reading about a court case where a man’s first wife passed away and he named… [read more]
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