PiggyBankWritingPersonal Money Planning's

e-Newsletter for April 25, 2009

(to look at past issues, click here)
Also In This Issue
Observations on Life (humor)
Rescuing Charities (reprint)
Examining the Subprime Crisis
parting thoughts: Tax Newsletter
 
 
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Just a Few Observations
Here are some observations on life that I've gotten from some unsolicited
e-mails:
 
1. The nicest thing about the future is that it always starts tomorrow.
 
2. Money will buy a fine dog, but only kindness will make him wag his tail.

3. If you don't have a sense of humor, you probably don't have any sense at all.

4. Seat belts are not as confining as wheelchairs.

5. A good time to keep your mouth shut is when you're in deep water.  
 

 
 

Disclosure

 

This newsletter is produced by Gary Silverman, dba Personal Money Planning, a registered investment advisor located in Wichita Falls, Texas.

Information in this newsletter is believed to provide accurate and authoritative information in regards to the subject matter covered. However, the accuracy, timeliness, or applicability of the information is not guaranteed and is provided with the understanding that we are not rendering legal, accounting, tax, or other professional advice or services.

This publication should not be construed by any consumer and/or prospective client as Personal Money Planning's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Nor should links provided to other sites be construed as the recommendation of the services or products mentioned on those sites. If such services are required, the help of a competent professional should be sought.

Remember that past performance may not be indicative of future results. Therefore, you should not assume that the future performance of any specific investment, investment strategy, or product made reference to (directly or indirectly) on this Website will be profitable or equal to indicated performance levels. Different types of investment involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for your investment portfolio.

Historical performance results for investment indexes and categories generally do not reflect the deduction of transaction or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results.

A copy of Personal Money Planning's current written disclosure statement discussing Personal Money Planning's business operations, services, and fees (known as an ADV Part II) is available from Personal Money Planning upon written request (and can be downloaded from our web site).

Personal Money Planning does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Personal Money Planning's web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

 
 Gary Silverman, CFP  
Time for a break
 
I'm not sure when the next edition of this newsletter is coming out. As it stands now, I'm looking at May 16. While it's possible I might write an edition before then, I've got some projects that are getting a bit behind. Time being a finite resource for me means that something has to give.
 
If you get all misty-eyed at my absence, you can read past issues (there's a link up by the date and down at the bottom of each newsletter). Or you can read some of the 100 or so articles I and others have written on our web site (see the link just to the left of here).
 
Enjoy this one, and I'll see y'all again in three weeks, if not sooner.
 
Gary
 
Gary Silverman, CFP  
 
PS: If your browser, like mine, is quite protective it may be blocking the pictures and/or links in our newsletters. If you look just above the top of each newsletter, there is an active link that says "Click here to see a web version of this newsletter." That will take you to a web page that will have a fully working version for your enjoyment. 
Rescuing Charities
This is a tough year. It's a tough year for me and it's probably a tough year for you. But it's an even tougher year for charities.
 
Let's face it; the economy is having a bit of trouble. Stocks are down, the economy is down; about the only things up are fear and unemployment. Charities are getting hit with a double whammy. Their contributions are down at the same time that the needs of those they serve are up.

Learn about the problems they are having and what can be done to help by clicking here.
 
(This article was previously published in the Wichita Falls Times Record News.)
  


Examining the Subprime Crisis

A one-minute TV segment or a column in the newspaper cannot give you a true picture of how the subprime crisis came to be. 
 
In hindsight, the risks of subprime mortgages are obvious. But in 2005 and 2006, an unprecedented number of these loans were originated, in large part because of their excellent performance in previous years during the housing market boom.
 
So why were market participants willing to increase their exposure to subprime mortgages? Did they underestimate the likelihood of the impending fall in house prices, or did their financial models fail to uncover the true sensitivity of foreclosures to lower house prices?
 
Up to now I've given you articles and links to relatively modest explanations that were written to the layperson. This one is different. It's a working paper from the Atlanta Federal Reserve Bank.
 
Warning: It is written to the economist. It's long (75 pages), uses big words, and I'm not sure I understand it all. But I know that some of my readers love this kind of stuff.
 
If I haven't scared you off yet, here's the link: http://www.frbatlanta.org/filelegacydocs/wp0902.pdf
 
Enjoy.
 
PS: If you don't understand parts of the paper, don't call me, call an economist.



 
parting thoughts 
Tax Newsletter
 
I get a lot of newsletters each month. I've found one of them to be full of good information and tidbits in the area of taxes. It's put out by Brickley Delong Certified Public Accountants.
 
I'm not sure who they are and I'm not sure how I found them, but they put out a nice newsletter. And while they are out of Michigan, when it comes to income taxes, the federal laws work the same wherever you are.
 
You can read the latest edition, look through back issues, and sign up to receive your own free subscription by clicking through here.
 
Oh, and if you're an accountant, I'd be happy to feature articles or links to your site. Just shoot me an e-mail and I'll tell you what we need.
 
That's all for this week.
 
Gary Silverman caricature
 
 
 

Gary

 
Gary Silverman, CFP
Personal Money Planning  
 
 

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