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Personal Money Planning's
e-Newsletter for May 16, 2009 (to look at past issues, click here) |
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Not Funny |
Normally I put something funny or inspirational here. Instead I'm putting in a link to an Op-Ed by David Ignatius of The Washington Post.
David, like myself, is a baby-boomer. It seems that he's just realized that boomers may be headed toward trouble in affording their retirement.
While he is usually found talking about foreign affairs, David does a good job of highlighting what's going on in the boomer retirement world.
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Disclosure |
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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.
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Videos
T. Rowe Price, one of my favorite fund families, has released a series of short videos on the Internet that I think you might enjoy.
Note: I'm not endorsing their funds (though I like many of them) or their views (though I agree with most), so make up your own mind and don't sue me.
Gary
Gary Silverman, CFP |
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The Four Sins in Investing |
In case you missed the half-hour presentation on TV, the one-hour seminar, or the five articles in the Times Record News, here's a compiled version of my talk on the Four Sins in Investing.
I've been helping people invest their money for 20 years. Over those two decades I've seen (and made) a lot of mistakes. Some seem to show up time and time again. I've categorized them into four main types: the Four Sins in Investing. The Four Sins are:
- Selling when the market is low;
- Permitting a bear market to affect your lifestyle;
- Letting your money run out before you do; and
- Allowing your portfolio to go to zero.
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Advisor Sins |
Investors aren't the only ones who sin. As Bernard Madoff proves, investment professionals are very capable of doing evil.
You would think that Certified Financial Planners would be a nicer breed. Maybe we are, but I can assure you that bad things happen from our ranks as well.
As the CFP Board states:
While we regret that these actions are necessary despite our emphasis and guidance on ethical behavior and requirements for CFP� certification, it is important to note that the vast majority of certificants are helping their clients and providing advice consistent with the fiduciary standard of care.
Nonetheless, there is no question that the fallout from the Madoff scandal and the resulting media scrutiny of everything related to financial services are sad reminders of how easily the unethical actions of a few can color the public's perception of an entire industry or profession.
Tell me about it.
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parting thoughts
Right Here, Right Now |
During a Chamber of Commerce networking meeting, L.O. Nelson, of the Small Business Development Center, showed us a 5-minute video that is extraordinarily thought provoking. If you have kids, if you have a business, if you have any reason to wonder just what the future will be like, I suggest watching it.
Then think.
Find it at
http://www.youtube.com/watch?v=UIDLIwlzkgY
That's all for this week.
Gary
Gary Silverman, CFP Personal Money Planning
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�2008 Personal Money Planning. All rights are reserved by Personal Money Planning and content may not be reproduced, disseminated, or transferred in any form or by any means, except with the prior written permission of Personal Money Planning unless specifically noted. (Permission is not difficult to obtain.) The one exception is for downloading and printing information this newsletter for general education by the original recipient. |
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