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Money 101:

Personal Money Planning's Newsletter

 

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Money 101: Capital Gains and Losses
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Money 101 
MARCH 10, 2012
Howdy! 

March certainly has come in like a lion this week in North Texas, if a lion hitched a ride on a gust of wind! But before we know it, the spring-like weather will return, just in time for St. Patrick's Day festivities. If you are in the Wichita Falls area, head downtown to  the Street Festival presented by Downtown Wichita Falls Development and Pride in the Falls on March 17th.
 
The day starts at 3 p.m. with the Downtown Dash, a 5K race to the Pot O' Gold with awards for the top 3 male and female finishers. Register here...

At 5 p.m., the gates open for food, fun and music for the whole family.  Los Lonely Boys are the featured artists, and other bands will be performing as well. Tickets are $10 in advance with military or college ID, $12 for others, and $15 at the gate. 12 and under are free (accompanied by an adult).  Get advance tickets at United Market Street, Downtown Wichita Falls Development Office, Iron Horse Pub, SAFB ITT Office or Turtle Creek Trading Company.

 
Gary's SoapboxGary Silverman, CFP

 

 

Breaking News: 

Advisor Charged With Murdering Client 

To Cover Up Fraud 

 

A financial advisor has been arrested on charges of murdering an elementary school teacher who also was an artist and for defrauding other people out of millions of dollars.  
   

Stanford Convicted Of Defrauding Investors In Ponzi Scheme

R. Allen Stanford was convicted of fraud in what prosecutors said was a $7 billion scheme involving bogus certificates of deposit at his Antigua-based bank.      
 

SEC Charges Advisor With Diverting Investors' Funds To Beach Resort Project

The SEC charged a N.Y.-based investment advisor with defrauding investors and diverting millions to keep his brother-in-law's Long Island beach resort project from facing foreclosure and to buy a multi-million-dollar beach co-op. 
  *                          *                               *

 

A few days ago, I found these three stories above  in one of the financial professional newsletters I receive. 

 

Three stories.

 

One day.

 

What a world we live in now, right?

 

Well, let's take a step back. The world has had problems with humans from the very beginning (I refer you to Genesis and a guy called Adam). We need to both trust humans and question their actions and motives in order to have a good life.

 

A financial advisor needs to be smart, a constant learner, a market historian, and be well-versed in world events, economics, and math. But none of that matters unless they are also trustworthy. I know I am, but I also know that every person behind the stories above would have said the same thing.  So I would never take offense if you ask questions, double-check me, or do anything else that allows you to feel more comfortable putting your trust with us. 

 

--Gary

Gary's Latest Articles: 
Times Record News  

Who Should Pay More Taxes?
You may not like the answer, but it's going to take more than the mega-rich to dig us out of this hole. Read more...

Blanket Advice May Not Cover You

Retirement and other finance articles allow a great way to get you started thinking about your goals, but the advice may not work in your situation. Read more... 

 

 World is Full of Give and Take

Economics. It's about money, yes, but economics isn't just about what travels in and out of our wallets. Read more...

Money 101: Capital Gains and Losses

 How do they affect your federal income tax return?

 

Your house, your fine dining table, the investments you purchase-- these are all examples of "capital assets"-- things you own or use to try and make money. Once you sell these assets, they become capital gains or losses. Now that it's tax season, you may need to know more information for last year's return. The IRS has compiled 10 facts to get you started; find them here...

 

Perspective
 
You may not know this, but the Dow Jones Industrial Average, unlike any other index I know, is a price-weighted index. That means that those stocks with higher prices are more heavily weighted in the index. (It's kind of a weird index.) The weightings are so bad that the 5 lowest priced stocks represent  4 times that percentage of the index.

Something to think about. 

Have a great week.

 

Sincerely,

 


Gary Silverman
Personal Money Planning
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