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Welcome to the October edition of The Wealth Chronicle.  
The 7 Deadly Sins Of Investing
   
When it comes to investing there are many things that can set you up for success or failure.  Mike Turner, the head of multi-asset investment solutions at Aberdeen Asset Management, put together a great video series to caution investors against seven critical mistakes they can make while investing.  Turner drove the point home by pairing each lesson with a 30-second cartoon snippet framed around the seven deadly sins: greed, envy, lust, gluttony, sloth, wrath, and pride. Below is each video representing the 7 sins.










2015 Last Chance Financial Planning
Next week I am sending out the 2015 Last-Chance Financial Planning Checklist to all friends, family, and clients. It's a quick way to determine if you need to take any actions before the end of the year.

It's a simple checklist that covers only those areas that need attention at year end - taxes, retirement savings, investments, insurance, and medical. It might take you five minutes, tops.

If you have any questions once you review the checklist, please feel free to contact me. You can click the image to see an electronic copy of the checklist

 
 
 




Should A Small Business Owner Put Their Spouse on the Payroll?
A common question asked by business owners is whether or not they should put a spouse on the payroll.  By putting them on the payroll there are tax deductions like contributing to a retirement plan that they may be about to take advantage of.  Another potential reason to add them to the payroll is that they would then be eligible for their own Social Security benefits.  A spouse already qualifies for spousal benefits, but these benefits are only 50% of the working husband or wife's primary insurance amount.  

This article from my website explores the pros and cons of putting a spouse on the payroll for the purpose of qualifying for their own Social Security benefit.  

 
 
Monthly Charts






 
 
The Watercooler
Lottery Winners get stiffed in Illinois
The Federal government is not the only government that can come to a standstill during budget negotiations. The lottery payouts in Illinois were suspended until Democratic legislators and the state's Republican governor can agree on a budget for the current fiscal year. The lottery winners are joining a growing number of creditors including state employees whose health premiums aren't being covered and private vendors who haven't seen checks since the July 1st. The pile of IOUs is worth $6 billion and growing. 

 

There's no crying in baseball
I'm still coming to grips with the Mets making it farther in the playoffs this year than the Yankees, but why is there so much crying with the team and their fans. First there was Wilmer Flores crying when he found out that he wasn't going to be traded. 



Than a caller on the Mike Francesa radio show started crying when the shortstop, Ruben Tejada got injured.



Maybe they need Tom Hanks to remind them that there is no crying in baseball





 






Please contact me regarding any of the articles above, or if you would like to discuss your personal or business finances

Sincerely, 

 





Marc Bautis
Bautis Financial
201-842-7655