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 J. PINK ASSOCIATES, Inc.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190 Ph- (914)524-7770
Elmsford, NY 10523 Fax- (914)524-7771
500 Summit Lake Dr. Suite 120 Valhalla, NY 10595 |
Weekly Market Review
for the week of - 12/06/2010 |
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| Greetings! |
In thinking about your financial New Year's Resolutions, here is an easy (but critically important) one: Check to be sure the beneficiaries listed on all of your investment accounts and insurance policies reflect your current wishes. Sometimes we overlook the need to update our beneficiary elections when the following changes occur; marriages, births, divorces, deaths just to name a few. If your beneficiary elections are not current, you risk leaving a mess for the people you leave behind. They then have to struggle through to clean things up. In addition to the mess, you can also cost your loved ones a lot of time and money while they straighten things out. In some cases you can create a situation that can't be undone, I.E. your will does not overwrite you beneficiary elections. So, my suggestion is that you make one of your financial New Year's resolutions to check and/or update all of your beneficiary elections. Even if you end up not making any changes, you will feel better in knowing things are as you want them to be. |
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Market Commentary |
 In spite of the release of some rugged economic data and continued acrimony in Washington, the S&P 500 moved forward with a +3.0% gain for the week (total return), pushing the index up +11.9% YTD through last Friday (12/03/10). Our country's monthly jobs report showed a rising unemployment rate (9.8%), a relatively small gain in the total of new hires nationwide (+39,000) and a significant number of out-of-work
Americans (15.1 million). Congressional finger-pointing carried over to a rare Saturday work day for the Senate as they debated the soon-to-be-expiring Bush tax cuts. The position of the Democrats (tax cuts should be maintained only for joint returns with less than $250,000 of income) and that of the Republicans (tax cuts should be maintained for all Americans regardless of income) has not changed since the tax cuts were signed into law by President Bush in May 2003. Negotiations are likely to result in an extension of the current tax structure for at least 1 year (source: Congress).
The 18-member commission established by President Obama in February successfully delivered on their 12/01/10 deadline, even though the final report received support from only 11 of the panel's members. While approval from 14 of the 18 folks was needed to officially send the plan to Congress for a vote, sufficient media attention has been directed at the plan's spending cuts and tax increases totaling $3.9 trillion (projection over the next decade) to provide impetus for 2011 action in Washington on our nation's enormous problem of overspending (source: Debt Commission).
Global attention will turn back to Europe's widening debt crisis this week, as banks worldwide continue to measure their exposure to financial woes in Spain, Italy and Portugal (source: BTN Research). |
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Notable Numbers | |
1. NOVEMBER - It wasn't much, but the S&P 500 did gain +0.01% (total return) in November. The index was up +7.9% YTD as of 11/30/10. As of 11/30/09, the S&P 500 was up +24.1% YTD. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: BTN Research).
2. QE2 UPDATE - The Fed's $600 billion bond buying plan that was announced on 11/03/10 (aka QE2 or Quantitative Easing # 2) made its first purchase of Treasury notes on Friday 11/12/10 when $7.3 billion of debt was bought. Aggregate QE2 purchases are expected to reach $100 billion this week (source: Federal Reserve).
3. NOT SOON - In a 11/23/10 release, the Federal Open Market Committee (FOMC) stated that "more than half of the (FOMC) participants judged that the economy would converge fully to its longer-run rates of output growth, unemployment, and inflation within about 5-6 years" (source: Federal Reserve).
4. ENOUGH?- Only 19% of working Americans are contributing enough money on a pre-tax basis to their retirement accounts to realistically project that they will be able to retire by age 65 (source: Nyhart). |
Client Spotlight - 2010 Recap
Here is a recap of our Clients in the Spotlight for 2010 | |
March, 2010 Butch Gilbert - Effective Electric (914) 737-2651  April, 2010 Joe Ruggiero - Dom & Vinnie's Restaurant www.DomNVinnie.com DomBVinnie@yahoo.com (914) 476-6666 Click here to read Joe's Spotlight 
May, 2010 Jo Ann Burns - J. Burns Bookkeeping, Inc. www.JBurnsBookkeeping.com JBurns@JBurnsBookkeeping.com (914) 909-1575 Click here to read Jo Ann's Spotlight 
June, 2010 Michael Getman - The Law office of Michael Getmen, PLLC www.WestchesterWillsLawyer.com MGetmanESQ@optonline.com (914) 220-5475 Click here to read Michael's Spotlight  July, 2010 Al Torre - Torre Lumber www.TorreLumberAndMasonSupply.com TorreLumber@Optonline.net (914) 969-1111 Click here to read Al's Spotlight 
September, 2010 Maria Bonet - Kidville, Scarsdale www.Kidville.com/scarsdale Maria@MyKidville.com (914) 600-5544 Click here to read Maria's Spotlight 
October, 2010 Anne Miller - Chiron Associates, Inc. www.AnneMiller.com AMiller@AnneMiller.com Click here to read Anne's Spotlight 
November, 2010 Chris Vernia - Double Image Sounds & Entertainment, Bounce the party place www.DoubleImageOnline.com www.BounceThePartyPlace.com Chris@DoubleImageDJs.com (914) 773-1950 Click here to read Chris' Spotlight |
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As always, if there's anything we can help you with, please feel free to call the office anytime.
I hope you have a great week.
Sincerely,
John
John W. Pink, Sr.
J. Pink Associates, Inc.,
Financial Advisors
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At J. Pink Associates, we do comprehansive financial planning and wealth management for families and small businesses by getting to know the unique details of your financial
world and thoughtfully crafting a strategy to identify and support your goals.
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This material represents as assessment of the market and economic environment as a specific point in time and is not intended to be a forecast of future events, or a guarantee of future events, or a guaranteew of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does notpurport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Part performance does not guarantee future results. The S&P 500 is an unmanaged index of 600 widely held stocks that is generally considered representative of the US stock market.
NFP Securities, Inc. does not provide legal or tax advice.
Securities and Investment Advisory Services offered through NFP Securities, INc. a Broker/Dealer, Member FINRA/SIPC and a Federally Registerd INvestment Advisor.
NFP Securities, Inc. does not offer tax or legal advice NFP Securities, Inc. is not affiliated with J. Pink Associates, Inc., Financial Advisors. |
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