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Money 101:
Personal Money Planning's Newsletter
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Money 101 OCTOBER 29, 2011 |
Howdy!
I know it's Halloween, but no matter the soundtrack behind the news of the market swings, try not to be spooked. Take a look at the two articles for long term investing in this newsletter for some helpful advice.
Have a fantastic weekend! |
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Gary's Soapbox  The Regulation Battle There is a war going on in the financial services industry. One of the battles is to determine who should regulate yours truly. Right now I'm regulated by the Securities and Exchange Commission (SEC). But after the Madoff mess, they admitted that they weren't capable of regulating all of the advisors under their wing, so they'll be dumping me back under state regulation. (Really big advisors still will be under the SEC.) That's actually okay by me. The State of Texas tends to inspect their advisors every two years. I have yet to hear from the SEC. So at least with Texas regulating Texas advisors, somebody's watching the hen house. (Of course, that won't be much fun for me, but at least it's good for the industry overall.) There's a move underfoot to further distance the SEC from advisor regulations. You see, broker-dealers (like Merrill Lynch and the like) are not directly regulated by the SEC. Instead they are regulated by a Self-Regulatory Organization (SRO). In other words, the brokers set up their own regulatory organization, which is called FINRA (formerly known as the NASD). Don't worry, FINRA actually does regulate, but you can imagine that at least they understand and can in some ways sympathize with the brokerage industry. Now the big-wigs on Wall Street want advisors to be under an SRO. I'm not really opposed to that, but the SRO they want us to be under is FINRA. That's right; the brokers want the advisors to be regulated by the brokers' SRO. The point is that advisors aren't too keen over being regulated by an organization that was set up by their chief competitors. It's like having only American League umpires call World Series games. While you'd hope everything is on the up-and-up, some suspicion would be natural if the calls kept going against the National League team. My guess is that we're going to lose this one. I'll tell you why, and discuss another battle that is being fought in the next newsletter. |
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Gary's Latest Articles
From Times Record News
And Biz to Biz
Uncover Some Inspiration
Cleaning through a desk drawer led Gary to a few words of wisdom from his past. In this article, he passes the gems on to you. Read More...
Two Articles On Long-Term Investing
Investing takes strategy, one of which is buy-and-hold. Gary discusses the pros and cons of that method, as well as ways to use rebalancing to help you along the way, here.
When the markets are swinging like a chimpanzee with a new banana, many investors make rash decisions. Instead, view your investments as long-term truths rather than short-term trends. |
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Money 101: Halloween Saving Ideas
 It's downright scary how much we spend on tricks and treats for Halloween. But it doesn't have to be that way. If you think outside the (candy) box, you can come up with inexpensive ways to enjoy the spooky holiday. This article from U.S. News shows 10 strategies to save more and spend less for Halloween.
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I can't be sure that someone won't be lurking in the shadows, hoping to jump up and yell, BOO! That's just one of many things in life that are uncertain.
In that spirit, I leave you with this quote from Noel Whittaker:
Life is full of uncertainties. Future investment earnings and interest and inflation rates are not known to anybody. However, I can guarantee you one thing.. those who put an investment program in place will have a lot more money when they come to retire than those who never get around to it.
Sincerely,
Gary Silverman, CFP®
Personal Money Planning |
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©2011 Personal Money Planning . All rights 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 from this newsletter for general education by the original recipient.
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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.
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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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