SOCIAL SECURITY AND RETIREMENT PLANNING

On August 31st, the Trustees of the Social Security System released their mandated annual report to Congress on the actuarial status and financial operations of the retirement and disability income trust funds, the Medicare Hospitalization Fund (Part A), and the Medicare Supplemental Medical Insurance Fund (Parts B & D). This year’s report was the 81st since the enactment of the Social Security Act (1935), and the first since the start of the Covid-19 pandemic. Not surprisingly, the solvency term, known as the “reserve depletion date,” of the existing retirement and…

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THE FRONT LINE OF INFLATION

“We're paying more for freight than I would like to pay.” The above quote is not from the manager of a small Mom & Pop store adjusting to the new post-pandemic online reality. It is from Apple CEO Tim Cook during the company’s conference call for the quarter ending June 2021. In other words, the CEO of the largest company in the world is complaining about shipping costs. Somewhat ironically, the largest package delivery company in the US by revenue, UPS, is dealing with wage increases. CEO Carol Tome had…

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FINANCIAL PLANNING: WHAT IT IS AND WHY IT IS SO IMPORTANT

Am I saving enough? Will I have enough to maintain my current lifestyle in retirement? Should I convert my IRA to a Roth? What’s the best way to save for college? How much risk do I need to take in my portfolio to meet my goals?  What ARE my goals? If you have ever asked yourself one of these questions, you could benefit from doing some financial planning. In a Financial Plan, you evaluate your entire financial picture, set short and long-term financial goals, develop strategies to achieve those goals,…

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INVESTMENT COMMENTARY – SECOND QUARTER, 2021

The stock market had a strong April but a weaker May and June. A couple of overriding macro concerns driving the market are: 1. When will the Federal Reserve start tightening the money supply? 2. Is the recent uptick in inflation temporary? The factors are linked, and one cannot be discussed without the other.

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