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 Personal Money Planning'se-Newsletter for September 19, 2009 (to look at past issues, click here) |
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Universal Laws
(humor) |
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The Law of Mechanical Repair - After your hands become coated with grease, your nose will begin to itch and you'll have to pee.
The Law of Gravity - Any tool, nut, bolt, screw, when dropped, will roll to the least accessible corner.
The Law of Probability - The probability of being watched is directly proportional to the stupidity of your act.
The Law of Random Numbers - If you dial a wrong number, you never get a busy signal and someone always answers.
The Law of the Alibi - If you tell the boss you were late for work because you had a flat tire, the very next morning you will have a flat tire.
(From an anonymous Internet source.)
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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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Financial Planning Week begins October 5 and Personal Money Planning is celebrating. Join us that Monday for a day of free advice. Gary Silverman, Certified Financial Planner®, (otherwise known as "me") will be available to answer your financial planning and investment questions.
Gary will be on hand
- 8am-10am,
- 11am-2pm,
- and 4pm-6pm,
We'll meet in the Chase Tower conference room. (That's 4245 Kemp Blvd., Suite 514.) I've heard a rumor that there may be snacks.
This is a free event and open to the public.
Gary
Gary Silverman, CFP |
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Headlines You Shouldn't See |
But we have
In just a single publication, I saw the following headlines:
- Wells Fargo exec fired for entertaining in Madoff victim's home
- Finra bars Ex-Morgan Stanley rep for allegedly bilking 97-year-old's charity
- Merrill Lynch settles Texas case for $12.7M
- Ex-AIG adviser who practiced voodoo on victims gets 12 years for fraud
- Phony Oscar winner 'fesses up to $4M investment scam
- Money manager busted by SEC in porno Ponzi case
I'm beginning to think that my industry attracts people who have a unique combination of crookedness and insanity.
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Employee or Contractor? |
Ten Tips for Business Owners
There's often a lot of questions about whether a person can be classified as an independent contract or an employee. Unfortunately, it's not always an easy call. Not getting it right can be not only disruptive to the business and the employee, but also expensive.
The IRS has come up with these 10 tips to help you figure it out.
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Remembering 9-11 |
Gary's random thoughts as he awoke to the 8th anniversary
Eight years ago I was getting ready to head to Dallas for the day. There was a continuing education class that is an annual requirement to keep my license. Turning on the TV right before I left, I saw that there were fires in both Twin Towers. ...I knew instantly that it was a terrorist attack. There was no other credible explanation for what I saw.
Driving to Dallas, I was following the events on the radio. I stopped along the way as I always to stretch and get gas (which raised a dollar those hours) and a coffee. I was the foreign-looking guy from out-of-town. And while I had no problems, I did have many stares.
The training went on. We didn't have a choice. Several hundred of us needed the course to keep our licenses. The instructor couldn't make it as his plan was diverted, but we made do. I can't say our minds were on the program. The hotel rolled a TV to the back of the room so that we could keep up with events.
That week was a blur. I was numb. Fortunately the markets were closed...it gave me a reprieve to just grieve and pray, ask for vengence and forgiveness. In the end though life went on, it always does, just differently.
The one image that remains with me was an interview on the streets of NYC. A young lady was carrying around a picture of her fiance. She had been to every hospital in the city and could not find him. The anguish, pain, and fear was on her face. Her pleading and tears showed the battle raging just under her consciousness between hope and reality. Her love worked three floors above where the plane struck.
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Target-Date Mutual Funds |
Revisited
Early last year I wrote an article on Target-Date Mutual Funds. Since then these kinds of funds have been getting bad press. There's even been a federal investigation of them. People are upset. I guess they didn't read the article. Let's revisit the subject.
The target-date fund is designed to bring simplicity to investing for retirement. You need only follow two steps. First, find the year closest to your retirement date. For example, if you are retiring in 10 years you might look at a Target 2020 fund. Second, put all of your retirement savings into that fund.
Simple? Yes. But there are problems as well. Learn more about them in this expanded article based on a series originally published in the Wichita Falls Times Record News in August and September, 2009.
Read my take on target-date funds here:
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parting thoughts
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Next weekend, from sundown on Sunday the 27th through sundown Monday the 28th, is the holiest day of the Jewish year. Known as Yom Kippur, literally the "Day of Atonement," it is a time of repentance. Acknowledging one's sins, denying one's self, and inner reflection, along with somber prayers and observances occur throughout. To my knowledge, it is the only recurring time of fasting called for in the Bible.
In the Old Testament, we find that this day is the single time the entire year that the high priest entered the Temple's Holy of Holies. It is also the anniversary of the when the Israelites repented for their rebellion at Mount Sinai (the "Golden Calf" incident).
Both my Christian faith, my Jewish heritage, and indeed most religions of the world call for repentance at various times, in various ways. Suffice it to say that mankind has always acknowledged that they have fallen short of the calling of their beliefs. Though admittedly, not all people recognize this in their own lives -- and certainly not to the point of repentance.
So I call on you to take time to reflect on your state in the world and for eternity. And may God humble me to do so as well.
That's all for now.
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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