Category: News and Politics
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The problem with Justice Scalia
I am surprised to learn this week that a large number of my peers have been blessed with the ability to avoid agonizing over the underlying mechanics of the major issues of law that have misguided our country for much of the last three decades. This explains why some may not be familiar with the…
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Devastating impact of education costs
I worked on two personal income tax returns yesterday that serve as examples to further underscore the need for education finance reform. As an adviser I see plenty of these examples in working class families, these two just happen to be the latest. I know that my peers in the tax preparation industry will see…
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Negative interest rates: what does it mean?
How current news affects financial planning Much of the world has entered into a period of negative interest rates with little economic growth. Here in the United States Federal Reserve Chair Yellen still says that interest rates will rise (and she knows better than anyone) but remain at historically low levels this year. Some doubt…
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Is the Health Insurance Marketplace working?
The number of people who enrolled for Obamacare through the individual Health Insurance Marketplace increased to 12.7 million in 2016 compared to 11.7 million in 2015 and 8 million in 2014. There is growth in the number covered but this growth is not impressive especially when we consider that the number without coverage is growing at a faster pace.…
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Preview of “The Road to Little Dribbling: Adventures of an American in Britain”
A friend asked if would recommend reading Bill Bryson’s new book The Road to Little Dribbling: Adventures of an American in Britain. Actually I’m just at the beginning of reading it so I answered the question from a different perspective. What is the book about? Getting old, travel in England and the devastating indirect effects of…
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Bankruptcy of an Uber driver
I just read a financial planning article about the bankruptcy of an Uber driver who was involved in an auto accident and his personal auto insurance denied coverage because he did not have a commercial auto insurance or ride-share type of policy. Apparently the carrier can do that and withstand the related legal challenges. It…
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Southwest NJ ranks far worse in home foreclosures than any other part of the U.S.
RealtyTrac reports “New Jersey foreclosure activity increased 27 percent from a year ago, boosting the state’s foreclosure rate to the nation’s highest foreclosure rate: one in every 171 housing units with a foreclosure filing during the quarter — more than twice the national average of one in every 404 U.S. housing units with a foreclosure…
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How to provide premium health care planning advice
This post is just an idea, an incomplete thought, a business observation with no clear direction or conclusion. I have no good answer to the headline. For my entire 30+ year working career as a financial adviser I’ve focused on the theme of keeping your personal health in focus as a core of personal financial well-being. Everyone knows…
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Three truths about the lottery
The first truth is that the lottery is an effective and successful method of taxation. The lottery system is well described as a regressive tax on people who are not good at math. And what an effective tax system is has been. Wall Street Journal reports that the U.S. had lottery ticket sales of $277…