PiggyBankWritingPersonal Money Planning's

e-Newsletter for September 4, 2010

(to look at past issues, click here)
Also In This Issue
News from Neptune
Seminar Announcement
Note to Clients
Sunday Columns
Biz-to-Biz Column
The Economist
BBB eReports
Facebook Postings
parting thoughts: Mosque in New York
Click Through To Our Web Site
Personal Money Planning Web Site
 
Send This Newsletter To A Friend
Forward to a Friend
 
 
Get Your Own Subscription
 
 
 Happy Birthday & Happy New Year!
 
Back in September, 1846, Neptune was discovered (it had been there a lot longer than that). So we're celebrating its 164th discovery birthday this year. But another event also happens soon. In July of next year, Neptune will have completed one orbit of the sun since that discovery. Let's just say that seasons last a little longer there.
 
Click Here
 for the discovery.com story.
 

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
Rich Coffee 
 
While it may seem like there are an awful lot of evil rich people in the world, just a tiny fraction (less than 1%) of worldwide households have $1 million or more in wealth (Boston Consulting Group). Then again, the United States does seem to have a lot more than their fair share. Throughout the world, around 11.2 million households are in this camp, with 4.7 million of them being from the U.S.
 

Of course, not all of that is spending money as it includes real estate and the value of closely held businesses, both of which are notoriously difficult to buy a latte with.
 
But don't worry, according to Mint.com, the average amount spent by every man, woman, and child in Seattle, Washington, for designer coffee (Starbucks and the like) is over $670 per year. 

 
Gary
 
Gary Silverman, CFP
Seminar AnnouncementFree Upcoming Seminar
 
Retirement Income Planning:
 
Making Sure Your Money Lasts as Long as You Do!
 
 
How can you make sure you have the money you need for the entirety of your retirement without having to skimp in the later years? This seminar will show you how a safety cushion is achieved and managed, what part of your guaranteed income streams (such as Social Security, Pensions and Annuities) will play in the mix, and the basics of asset allocation to help in your investment decisions (a primer for a future seminar that will take a more comprehensive look at the topic).
 
Mark your calendars for September 16 from 5:30 p.m. to 7:30 p.m. This seminar will be held at the Courtyard by Marriott in Wichita Falls (3800 Tarry Street, across from Walmart on Lawrence Road, behind Jack in the Box). We will be serving light refreshments and will have handouts, so please RSVP to 940-692-6885 or [email protected] to help us ensure we have enough of both.
Quick Note

Attention Personal Money Planning Clients

Keeping Your Files Current
 
Beneficiary Information 
Personal Money Planning has established an annual reminder for our clients to verify and update their beneficiary information for their IRA and Roth accounts. If you have your paperwork, take a moment to check that all information is still current. Otherwise, to verify who is listed as beneficiary for your account, call us at the office and we can check for you.
 It may be necessary to make changes to your beneficiary because of life-changing events (marriage, divorce, new child, for example). If this is the case for you, contact us and we will send you the beneficiary change form.
 
Tax Information
If you have not done so already, please send or drop by a copy of your current tax information to our office. Before we know it, tax season will again be upon us, and we like to be prepared for any questions you may have.
The office number is 940-692-6885. If you have any questions about supplying us with beneficiary or tax information, or anything else, give us a call.
gary's Sunday newspaper columnSunday Newspaper Articles You May Have Missed
From the Wichita Falls Times Record News
 
Gary's Fixing the Economy Series Continues
 
Part 10: Gary outlines the three steps that need to be taken to fix the economy.
http://personalmoneyplanning.com/ourviews.aspx?LinkId=101399&spid=93426 
   
Part 11: Balancing the U.S. budget is going to take some hard choices
 
gary's other
column
Biz to Biz Article You May Have Missed
From the Wichita Falls Times Record News Biz to Biz:
 
Random Promotion or Peter Principle? 
 
The standard model relies on promoting based on past performance, but is there value in thinking outside the box? 
   
 
articles links fromThe Economist
 
Does Government Intervention Create Jobs?
Corporations around the world are asking for government bailouts, handouts and protections from foreign competition, and all are pointing to China and its state capitalism for inspiration.This magazine article suggests this may be an unhealthy trend.
 
More on the Global Revival of Industrial Policy
Governments are under pressure to reduce unemployment and stimulate growth, and to help local firms fight foreign competitors. This is not without precedent, as the U.S. bailed out Lockheed in 1971 and Chrysler in 1979. This article also looks at some of the failures in government policy, including the time when Japan's government opposed carmakers' plans to export and tried to stop Honda from expanding from motorbikes into cars. What does this mean for a recent industrial policy effort by the U.S. Department of Energy: the $25 billion in low-interest loans for electric car development?
http://www.economist.com/node/16741043 
BBB eReportsInformation from the Better Business Bureau
 
Scammers Steal from Kids and Offer "Credit Protection"
This BBB scam alert focuses on ways scammers prey on children's Social Security Numbers. Be aware of the quick fix and check your children's credit score annually.  
  "And I'll huff and I'll puff..."
After that big storm leaves a battered roof in its wake, don't take another beating from an unscrupulous roofer. The BBB recommends researching companies you are considering before hiring anyone.
from gary's facebook pages
Facebook Stuff You May Have Missed: from Personal Money Planning
 and Gary Silverman
 
Facebook
  For information about Personal Money Planning, continued sharing of links about money, small business, finance, and the economy, be sure to link to the Personal Money Planning Page by Clicking Here: Find us on Facebook 
 
You may have already "friended" Gary on his personal Facebook page, if not, Friend Away by Clicking Here: Find us on Facebook
 
Here are a few links from recent posts:
 
 
In business, look beyond borders
"You have to work hard... You are competing against the person in India who lives in a tin shack, goes to school all day and then goes to work." --Samuel Allen, CEO of Deere & Company (think green tractors) to master's students at Purdue.
 
Measuring your Risk Tolerance? Take a look at the Sleep Factor.
It may seem better for your wallet, but if you're wide awake worrying when you shouldn't be, it may not be the right choice. From Gary's guest blog at DallasNews.com.
 
Links from Gary:
 
RU Serious?
While texting may be a late 20th Century invention, the language of the text, (like L8TRG8TR for "Later, Gator", or LOL for "Laugh out Loud") actually goes back to the 17th century and earlier.
 
 
A Look at a Colorful Past
I've been to a lot of museums and have always admired the beauty of the statues. Yet I did not even think that they might have once been a color other than their native stone. This article talks about new discoveries in how ancient statues and buildings were once a myriad of bright colors rather than the bland rock we view today.
http://io9.com/5616498/ultraviolet-light-reveals-how-ancient-greek-statues-really-looked 
 
 
parting thoughts  

Are Boundaries Defined for the Freedom to Assemble after a National Tragedy?
 
For a couple of weeks I debated writing about the mosque issue in New York. I knew that anything I said would offend a good-sized portion of my client base. Many people I've talked with feel that Muslims have no right to build anything within a mile or more of the site of the 9-11 attacks. Others have expressed the attitude that while they may have a right to build there, they have no business building there, and when it burns to the ground they will get what they deserve.
 
In the end I chickened out.

Shame on me.

Thankfully, Deanna Watson, the editor of my local paper, ended up writing the article that I should have written. Here's the link to it:
http://www.timesrecordnews.com/news/2010/aug/22/solution-difficult-in-emotional-issue/
 
If you are offended by this proposed mosque, I understand. I really do. But I have been on the other side of the hate that breeds when the actions of a few are generalized to an entire group of people. So while I may think that it is ill-advised to build that mosque in the location chosen, I must defend their right to do so.
 
And I also defend the right of those who peacefully protest the mosques's construction.
 
Disagreement is fine. Hate is not.
 
Thank you, Deanna, for writing the explanation for me.
 
That's all, for now.
 
Gary Silverman caricature
 
 
 
Gary
 
 
Gary Silverman, CFP
Personal Money Planning
 
 
 

�2010 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.