Japan and the Middle East: Focus on Growth Not Fear

An open letter from LPL Financial     

A combination of natural disasters and geopolitical unrest has stirred equity markets over the last month, with the crisis unfolding in Japan triggering the latest round of investor worry. The severe earthquake and resulting tsunami crippled the world's third largest economy, but it has been Japan's damaged nuclear facilities that have made a tragic situation even worse. Global markets are clearly shaken as they try to assess the full extent of the damage to Japan's economy and any contagion that might derail the global economic recovery. While the tragedy in Japan alone is certainly significant enough to rattle the markets, there are also other risks facing investors, including the escalating violence in Libya and Bahrain as well as renewed European debt problems.

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Are You Inviting an IRS Audit?

The notorious IRS audit, with its accompanying mega-doses of strain and stress, is an experience that  is universally dreaded amongst small business owners and professionals.  In our current economy, with the government hyper focused on narrowing the deficit, audits are on the rise amongst this very group. 

Over the years we have all been admonished by our accountants to avoid the "red flags" that can potentially provoke an audit. Well, now may be a good time to start perking up when our CPA's are  speaking and to start listening more carefully. 

8 Invitations to an IRS Audit   

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Will You Be Financially Prepared to Live to 100?

Some of us follow steadfast routines involving diet, supplements, exercise, relaxation techniques, etc.,   in an attempt  to "defy" age, to paraphrase an exceedingly annoying cosmetics commercial I abhor. Others have more of a "devil-may-care", its all in the genes and out of my hands, attitude.

These opposing takes on how to prepare for a long life can also be seen in how we approach the idea of maintaining our financial health for the long haul.  Americans can now look forward to many more years in the retirement phase of life than in previous generations and maintaining our desired lifestyles will be an increasing challenge.

Merely looking at how much you have accumulated and the rate at which you are adding additional savings, will not be an effective prognosticator of whether you are at risk of outliving your money.

A full financial plan, encompassing other key factors such as your expected expenses based on your lifestyle preferences, desired age of retirement, all sources and potential sources of income including social security and inheritances , projected valuations of business assets, and long term medical care needs/insurance, etc., truly offers the best opportunity to nail down how much  you will need and how you can get there. To determine whether you are currently on track to "live your dream" or are quite a bit off the mark, crunching the numbers and eliminating  the guess work is essential.

The 5 Retirement Planning Mistakes to Avoid

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Client Corner

Sony Ericsson Tennis Tournament 2011   

For clients who are attending, please send us photos of yourselves enjoying the event and we will publish them in the next issue.    

This Month's "Client Superstar":

Long-time client Scott Schenker, of One Dental Supply and Equipment, was extremely proud to let us know that his son, Chef Jesse Schenker,  was named on New York Magazine's  Best New Chefs list and that his restaurant, Recette, was named on the Best New Restaurant lists of both  New York Magazine and The New York Times.

This  is incredibly impressive and we can't wait to sample Jesse Schenker's, "small plate, urban- American menu full of all sorts of elegant and unexpected surprises."  

We love hearing about our clients' and their families' success stories and accomplishments and encourage everyone to send us news you are proud of.