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 - 5/16/2011 |
|
|
|
|
Greetings! |
Here is your weekly tip - does the order you pay your debts off in really matter? The answer is yes, it could make a big difference. It might make sense to list your debts and the associated interest rates. Once you do this you can focus on your higher interest rate debts first. Once you have paid the highest rate debt off you can focus on the next highest rate and on and on until you have paid off all of your debt. The exception to this approach might be the mortgage on your primary residence. The interest paid on your mortgage might be able to be written off your taxes. I would suggest you consult your tax advisor/ preparer to see if you can write it off. I have created a spreadsheet to help you keep track of the interest you pay on your debt, if you would like a copy (Microsoft Excel), reply to this email and I will happily email it to you. |
|
|
|
Market Commentary |
 It is getting harder for even the staunchest supporters of Medicare and Social Security to ignore the handwriting on the wall. The blunt announcement last Friday (5/13/11) from the trustees of both government programs stated that the funds backing them will be exhausted sooner than previously thought. Medicare, costing taxpayers $600 billion a year, is now projecting that its trust fund will be depleted in 2024, a whopping 5 years earlier than calculated just a year ago. Social Security, costing taxpayers $700 billion a year, is now projecting its trust fund will be depleted in 2036, a year earlier than last year's estimate. The economic reality is that the promised benefits of both Medicare and Social Security have far exceeded the payroll taxes deducted from workers' paychecks. Blame it on the medical profession's increasing ability to sustain life and on our growing utilization of health care services during retirement. Whatever the reason, the debate over what benefits we desire and what costs we are willing to pay is one that cannot be kicked down the road any further (source: Social Security and Medicare). The talks last week between Washington and top Chinese economic officials (known as the "Strategic and Economic Dialogue"), were the 3rd to take place since President Obama took office 28 months ago. The US didn't appreciate comments from China about our current fiscal situation. China didn't appreciate comments from the US about the roadblocks facing American firms attempting to conduct business in China. The positive is, that in spite of noticeable differences, the lines of communication between the superpowers remain intact (source: White House). The US is expected to reach its self-imposed $14.3 trillion debt ceiling today (5/16/11). The last time the debt ceiling was raised was in February 2010 (source: Congress). |
Notable Numbers |

1. DOUBLE - The USA has created as much national debt in the last 7 years as we created in our country's history up to 7 years ago. As of 4/30/04, the total debt of the US government was $7.13 trillion. As of 4/30/11, the total debt of the US government was $14.29 trillion (source: Treasury Department).
2. GLOBAL SALES - The total value of goods and services exported from the USA to the rest of the world was $173 billion in March 2011, up from $126 billion in March 2009 (source: Commerce Department).
3. LET'S GO SHOPPING - Retail sales by American consumers in April 2011 totaled $389.4 billion compared to $361.9 billion in April 2010, a +7.6% year-over-year increase (source: Census Bureau).
4. GET RID OF THEM - The government released a list on 5/04/11 of 12,217 properties and structures owned by the federal government that are described as excessive and unnecessary. 2,869 of the properties (23% of the total) are located in the state of California (source: Civilian Property Realignment Act). |
|
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 |
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.
| |
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. |
|
|