The IRS announced its 2017 "Dirty Dozen" list of tax scams today. Take a look at the enclosed links to stay up-to-date on what to watch out for when filing your own taxes this month!
There’s so much going on these days. The stock market is rising, bond prices are dropping (sort of), emerging markets are all over the place. Portfolio-watching is becoming as big a spectator sport as football. Maybe bigger, given football’s recent television ratings. But watching your portfolio can be bad for your financial health. The more often people look at their investments, the less likely they are to take on risk.
There is a lot written lately about the "fiduciary standard" in investing, largely because the Department of Labor is set to impose that standard on advisors who manage retirement accounts. Essentially, it means putting the interests of another ahead of your own. This seems like it should be the undisputed goal of every investment advisor: we should always be putting our clients' interests ahead of our own. So why is the brokerage industry fighting it?
The Dow has increased by about 3% since the first of the month. It went up dramatically when it became clear that Clinton was going to win. It went up about the same amount when it became clear that Trump actually won. So much for predicting market moves. So what lessons can we learn from politics and the market?
In this election season, all decisions seem to be fear-based. Each side stirs up voter fear about the other. Fear of terrorism, crime, international tension, permanent job loss. Fear of some other group (government bureaucrats, religious fanatics, illegal immigrants) taking something from us. Republicans are hunkering down against Democrats, and vice versa.