2014 Year End Wrap Up And 2015 Projections

Happy New Year 2015As the year 2014 draws to a close, it strikes me how many events can be used as a life lesson, or how it affected our markets and our future. While there are very many events I won’t touch on, these are a few that struck me as very eventful and had a lesson, financial and personal, to be learned in our own lives.

We welcomed the new clients of Woodbury Investments, leaving their advisor, Howie Berkowitz, to live his life in retirement… Continue reading

You Did Your Estate Planning- Or So You Thought…

You Did Your Estate PlanningThe recent loss of the beloved and talented Robin Williams sent shock waves throughout the world. To us on the outside, we see a man who had everything: a tenured marriage with beautiful children, a legendary career, a name known in every household, wealth, and a man everyone would love to have as a friend. Yet, this tragic occurrence shows that we all have our demons that nobody can deal with but ourselves, and some choose not to deal with them any longer… Continue reading

Ben Did What?

Ben Did WhatMuch has happened in the markets in a very short period of time, some of which was anticipated, and some which came as a surprise. The ultimate outcome however, is that due to the recent past occurrences, relative stability (if one could use that phrase when talking about the market) is at hand.

The ongoing battle between the parties over the budget deal is finally at rest: for the time being. Both parties seem to have agreed and signed off on a budget which… Continue reading

Babyboomers and Long Term Care… It’s Not What You Think

Long Term Care“I’m not going to need it.”
“I’ll never go into a nursing home.”
“I’m too young.”
(and the immortal)” My kids will take care of me.”

Life is unpredictable. I remember a case where the husband and wife were 22 years apart, and when the husband applied for Long Term Care insurance coverage, it was actually lesser expensive to apply for the wife as well, for with the couples discount it was cheaper to insure the couple than the husband alone. Lo and behold, about three… Continue reading

The “Fiscal Cliff”- Fairytale or Nightmare?

New Year 2013First and foremost, I wish all our clients, friends and readers a happy and healthy New Year. May it be prosperous as well, and a bit less stressful than the last!

At 10:10 PM with just hours to go before the Bush Tax Cuts were set to expire and as close to the 11th hour as you can get, the Senate and Congress passed what they called their version of averting the “Fiscal Cliff” signing into law a small portion of the enormous problem to face our… Continue reading

Supporting Our Loving Children Can Be Hazardous To Your Social Security

Supporting Your Children adn Social SecurityOn July, 3rd I posted a blog entitled “Retire or Support the Kids?” of which this is a follow up blog. Before you accuse me of not liking kids, remember I’m a loving father and grandfather, and my kids mean the world to me. But just like you, at sometime I too would like to retire or start taking it easier (not to worry- I’m not going anywhere!) and it’s my job to keep you informed of the ramification of your monetary actions- so, let’s talk…… Continue reading

Going For The Olympic Gold

Michael PhelpsWith the Olympics’ opening ceremonies commencing tonight in London, the race is on for the gold. Hundreds (if not thousands) of Olympians, training for most of their lives, will go to sleep tonight with dreams of medals wrapped around their necks and a permanent place in history. Michael Phelps, famed Olympian swimmer, is but three medals- regardless of color- away from the all time record of the most medals won by any Olympian in history. Yet, but two years ago, he swore he was finished, stopped training, gained 35… Continue reading

Retire Or Support The Kids?

Retire Or Support The KidsThe lifelong dream of working hard, meeting the love of your life, getting married, buying your first house, having kids, working hard, sending them to college and then off to retirement has been derailed. Somewhere along the line, the order above seems to have gotten, well, out of order.

According to Economist Barry Bosworth, Senior Economics Fellow at the Brookings Institution, the biggest expense and responsibility, formerly taking care of our parents, has been replaced by taking care of our adult children. The largely unfortunate result… Continue reading

Borrowing To Be Debt Free- Not Usually A Good Idea

Save or Borrow MoneyWe’ll all agree: it’s not fiscally great out there. The Government declared an end to the Great Recession: obviously, they don’t get out much. They stated that unemployment is “moving down” to 8.3%- they “forget” part time workers and those who have gone through their full 99 weeks of unemployment. How’s this for a lesson?

To Pay New York Pension Fund, Cities Borrow From It First

Cities and counties throughout New York are using an unusual arrangement through which they can manage their

Family Succession Planning- Do You Have What It Takes?

If there’s one thing I’ve learned about dealing with people and their finances, there are two things people don’t like to talk about- life insurance and wills. Regularly I meet with clients and review their legal documents with our legal team. Guess what? Typically two out of five are in need of a re-do. Here’s why…

It’s something about mortality, or that applying for life insurance or drafting a will is the beginning of the end. The fact is really, if you don’t have up to date financial and estate… Continue reading