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 Personal Money Planning'se-Newsletter for June 27, 2009 (to look at past issues, click here) |
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Predictions, pt.3 |
This is the last from a list of quotes that I got from Ron Blue's book, Splitting Heirs. They show the danger of making predictions. |
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Louis Pasteur's theory of germs is ridiculous fiction.
Pierre Pachet, Professor of Physiology at Toulouse, 1872
The abdomen, the chest, and the brain will forever be shut from
the intrusion of the wise and humane surgeon.
Sir John Eric Ericksen, British surgeon, appointed Surgeon-Extraordinary to Queen Victoria, 1873
$100 million dollars is way too much to pay for Microsoft.
IBM, 1982
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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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The two main articles this week are reprints of columns I've done in the newspaper. With all the travels I've been on lately, I gave myself that excuse for not coming up with even more original material. My official line is that I'm catching you up with articles you may have missed.
Of course, if you don't live near Wichita Falls (which describes about one-third of my readership) then you never had the chance to catch the article in the first place. For you, just ignore that first paragraph.
Gary
Gary Silverman, CFP |
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Money Can Buy Happiness |
You've heard the saying that money can't buy happiness. That saying is wrong. Money can buy happiness. The problem is that most people are spending the money on the wrong thing. For the most part if someone is trying to lift their spirits, they spend money on fun or things for themselves. What researchers found out last year was while money can buy happiness, the key was to not spend it on yourself, but on someone else.
(This article was originally printed in the Life & Estate Planning Guide of the Wichita Falls Times Record News.)
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After-tax Portfolio:
How much do you really have? |
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You have a traditional IRA worth $1 million. I have a Roth IRA worth $1 million. To many, it looks like we are equals, but if you try to get at your money to buy that retirement dream home, the IRS is going to take 35 percent of it from you. I, on the other hand, get to spend the whole thing. You can come visit.
Warning: mathematics are used in this article.
(This article was originally printed in the Life & Estate Planning Guilde of the Wichita Falls Times Record News.)
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parting thoughts
Which Bias Do You Want With Your Healthcare? |
In Massachusetts, a state commission has a great idea to lower medical costs. Currently, when a doctor or hospital has a patient, their insurance company reimburses them for the treatment. The problem there is that the commission alleges that the doctors and hospitals are recommending treatments not for the benefit of the patient, but for the benefit of themselves. The commission wants to eliminate this bias.
So, to get around this, the commission thinks the insurance company should pay the hospitals and doctors an annual retainer. They wouldn't get a dime more. The idea is that the hospitals and doctors would more smartly manage the care since giving too much care would affect their wallets.
Is it only me who sees some problems here? The state was worried about too many procedures. Their solutions have me worried about curtailing too many procedures. Imagine the dilemma this places on the medical providers.
Consider a scenario where you needed a course of treatment that would cost the provider $500,000. An almost-as-good procedure would cost them $400,000. Think there might have a bit of bias in which one they recommend?
I'm wondering, which bias would you rather your medical provider have? And before you think we can design a system that is both the most affordable and that provides the absolute best treatment at the same time, think.
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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