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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 - 12/20/2010 |
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| Greetings! |
Here is your tip of the week - Keep cash on hand for those unexpected emergencies.
Keeping a few hundred dollars hidden in your home allows you to pay that tow truck service, taxi cab or emergency plumber that you might need to call in the wee hours. Of course keeping that money hidden in a secure (waterproof and fire proof) place makes sense too. There are plenty of safes/ document storage containers available. Make sure someone beside you knows where the money is secured and how much you have there. |
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Market Commentary |
 It was an early Christmas gift for all American taxpayers, although some Washington politicians did not view it that way. Just 11 days after announcing that he had reached a compromise tax deal with Republicans, President Obama signed into law last Friday afternoon (12/17/10) a 2-year extension of the "Bush Tax Cuts".
Budget officials "score" the tax bill (H.R. 4853) as having an $858 billion impact on our nation's finances over the next 10 years (i.e., 2011-20). Maintaining the current tax rate level (on individual income, capital gains and dividends) represents $408 billion (of the $858 billion), the largest component of the legislation. All working Americans will benefit from the 1-year, 2% reduction in payroll taxes (worth $112 billion). An estimated 21 million taxpayers will avoid the alternative minimum tax (AMT) in 2010-11 (worth $137 billion). The addition of 13 months (to the maximum 99 weeks currently in effect in many states) costs an estimated $57 billion. The changes to the structure of federal estate taxes were valued at $68 billion over the next decade (source: Congressional Budget Office).
The 50-year performance of the S&P 500 as 2010 began was an annual gain of +9.4% (total return). With just 2 weeks to go this year, the stock index is up +13.7% YTD through the close of trading last Friday (12/17/10) (source: BTN Research). |
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Notable Numbers | |
1. HALF A MILLION - A child born in 2010 that begins kindergarten in the fall of 2015 would attend college between the years of 2028 and 2032. If that child attended an average private 4-year college and if the annual price increases for private colleges experienced over the last 30 years continued into the future, the aggregate 4-year cost of the child's college education (including tuition, fees, room & board) will total $506,423 or nearly $127,000 per year (source: College Board).
2. NOT ENOUGH - Less than 1 in 5 working Americans (19%) is contributing enough money on a pre-tax basis to his/her retirement accounts to realistically project that he/she will be able to retire by age 65 (source: Nyhart, Tom Totten, Craig Harrell).
3. TOO HEALTHY OR TOO SICK - 34% of American workers age 60-69 believe that their greatest financial risk during their retirement years is a catastrophic out-of-pocket expense associated with a major health event. An additional 26% of American workers feel their greatest financial risk is outliving the retirement assets they have accumulated (source: Hartford Financial Services Group).
4. WORKING FOR THE GOVERNMENT- 1 out of every 6 American workers is employed by the government, either at the federal, state or local level (source: Department of Labor). |
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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