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What's Happening Now
What vitamins not to take.
Are you a big vitamin C fan? Forbes pseudoscience expert, Steven Salzberg, gives the lowdown on what vitamins you don't really need to take.  Click here to see if vitamin C is on the list.


If you have elderly parents or want to prepare yourself for the chance that you may face cognitive decline  issues someday, you'll want to read this article.  The good news: Your knowledge of the world grows until you're around 65.  
Is iPhone 5s all that different from the iPhone5  
The new iPhone 5s has made CNNMoney's Best In Tech list.  But is it the best smartphone, period?
There's plenty in the iPhone 5S that's familiar. You're getting the same four-inch screen with the same resolution as the iPhone 5, but is the fingerprint sensor a dealmaker? 
World getting hotter. Shifts to consistently warmer temperatures in the world's climate as a result of higher greenhouse gas emissions pose a considerable threat to thousands of plant and animal species. A new study by the journal Nature reveals some troubling facts about global climate change
New episodes of Breaking Bad. 
Will we get more episodes of Breaking Bad?  Jeffrey Katzenberg, CEO of DreamWorks Animation,  offered to commission three extra episodes  .  How much was he willing to pay?  

Backyard Brains, a Michigan-based company that brings neuroscience to a commercial audience, plans to unveil its latest creation: remote-controlled cockroaches.  Why you may ask. The answer will surprise you. Click here
HP wants workers to show up.  
Hewlett-Packard has issued a new edict calling for more employees to show up at the office more often. The hope is that this will foster more collaboration and that - just like the good old days - HP employees can get directives from managers, in person. 
No talking in restaurant. 
International restaurant trends:  edible menus in Chicago, no talking in Brooklyn, eat in the dark in Paris.  What's in store for Columbus?   
Voice of Siri

Susan Bennett recently revealed to CNN that she provided the voice of Siri for the iPhone and iPad for the first two years of Siri's life. Apple has replaced her with new voices recorded for the iOS7 mobile operating system update. 
Walter the Movie

Cigar and fried chicken lovers are among the oldest humans on earth.

Colorado filmmaker Hunter Weeks interviewed six of these very old souls for "Walter: The Movie," in hopes of discovering their secrets. 
iPhone app for Millennialls to budget money.

Do you have a Millennial (member of Gen X or young person between 18-29) in your household?  This group is difficult to understand and much research has gone into trying to psych them out.  Now there is a special iPhone app developed by Millennials for Millennials to help them budget their money.  You may want to check it out by clicking here.  

November 2013
JoeSrNewJune12
It's time to start thinking about taxes again!  Here at Chornyak & Associates we have a highly qualified tax-planning department, headed by Adam Smetzer, CPA, prepared to serve you.  In the video for this month, Adam tells you about himself and his interests.

We think you'll also be interested in the group of articles we've assembled including topics such as investing money, ways to reduce student loan debt, and purchasing technology.  It seems that everyone these days is fascinated by the latest tech gadget to appear on the market, so we thought we'd give you some buying tips for tablets.

I always enjoy hearing from you.  Whether you're a current client or not, feel free to contact me at 614-888-2121, 877- 389-2122 (toll free) or [email protected] anytime.

We all wish you an enjoyable autumn season and a happy Thanksgiving..

Sincerely, 

Joe


Ready for IRS tax season?  Meet Adam Smetzer, CPA
Adam Smetzer, CPA - Chornyak & Associates    
Adam Smetzer is an honors graduate of OSU and our in-house CPA. As a seasoned expert in tax planning and compliance, he'll do everything he can to help you minimize your tax liability.

To hear Adam's story and learn more about him, click here or on the image above to view the video.



2013 year-end tax planning considerations
Tax planning season is here     

As January 1, 2014 gets closer, year-end tax planning considerations should be starting to take shape. New tax legislation has brought greater certainty to year-end planning, but has also created new challenges. 
Adam Smetzer discusses what has changed and what you should do to prepare.

Click here to read Adam's tax-planning suggestions.



What is the Rule of 72?
Investments - the Rule of 72  


The web site mydollarplan.com covers of a wealth of information on taxes, retirement, and personal finance.  We thought you'd find this article particularly interesting because it provides a simple way to project a return on investment into the future.  The feature is by Don, a personal finance blogger who writes for MoneySmartGuides.


Have you heard of the Rule of 72? No it's not something related to Breaking Bad. It's a math formula. Before you go running from this page, hear me out. I'll do my best to make this math lesson as easy and enjoyable as possible.

What is the Rule of 72?
At its core, the rule of 72 is way to determine how long it will take for your money to double given an interest rate. Here is the formula:

Years to Double = 72 / Interest Rate

I told you this math was easy! Let's take a look at a few examples so that we can see exactly how this formula works.

Rule of 72 Examples

Example 1: Jane is earning 8% annually on her money. To find out how long it will take for her money to double, we take 72 and divide by 8. Note that if you are using a calculator for this you do not enter in 8% or .08. It is simply 8. So, 72 divided by 8 equals 9. This means it will take 9 years for Jane to double her money.

Example 2: Bob is earning 15% annually his money. To find out how long it will take for his money to double, we take 72 and divide by 15. If we take 72 divided by 15 (remember to just take 15 and not 15% or .15) it equals 4.8. This means it will take 4.8 years for Bob to double his money.

Example 3: Mike is earning 5% monthly his money. To find out how long it will take for his money to double, we take 72 and divide by 5. If we take 72 divided by 5 it equals 14.4. This means it will take 14.4 months for Mike to double his money. Note that it doesn't matter if we are compounding monthly as in this example or annually in the examples above. The answer will give us years or months. In this case, our answer of 14.4 months can be divided by 12 to get years. In years, 14.4 months is 1.2 years.

Example 4: Joe enjoys economics and sees that inflation is currently 3%. At this rate, he wants to know how long it will take until his beloved potato chips will double in price. If Joe takes 72 divided by 3, he will see that the price of a bag of his favorite potato chips will be double their current price in 24 years.

Why Use The Rule of 72?

You may be asking why even use the rule of 72.  This is a great question. With compound interest you earn interest on your original principal as well as the interest you earn. The formula for this can get cumbersome when you take it out a few years. If you have a calculator, the math isn't too difficult. But where you really run into trouble is trying to figure out how long it will take for your money to double.

I'll spare you the math, but trying to figure out the time it will take for your money to double on a calculator requires the use of the "log" key on your calculator. As a result, it is virtually impossible to do the math in your head. With the rule of 72, it makes determining how long it will take for your money to double much easier.

One More Feature of the Rule of 72

As with any math equation, we can turn it around to figure out what interest rate we need to earn on our money, given a period of time. Let's say you have $100,000 and you want your money to double to $200,000 in four years. What interest rate do you need to meet your goal?

To find the answer, we take 72 and divide by 4. The answer is 18. This means you need to earn 18% on your money if you want it to double in 4 years.

More rules to play With

Some of you reading this might not be content with having your money double. You want it to triple or quadruple in amount. Well, I have great news for you!

Rule of 115. If you want to see how long it will take your money to triple in amount, you can use the rule of 115.

Rule of 144. For those interested in quadrupling your money, then the rule of 144 is your go to formula. Both work the exact same way as the rule of 72.

Final Thoughts

I hope you found this math lesson easy and entertaining. If not, hey, it's math. There's not too much you can do to make it fun.

While this calculation is quick and easy, it may not prove to be exact for you. This isn't to say the formula isn't reliable, because it is. It's just that the formula doesn't take into account taxes and other factors that could cause your real interest rate to be lower. But, it will give you a fairly accurate assessment of how long it will take your money to double.

 



Nine ways to reduce your student loan debt
Paying off student loans.
 

Is there someone in your family or someone you know who has student loan debt?  Mary Clare Fischer of Kiplinger has researched nine excellent ways for recent graduates to get anywhere from 15 to 100% shaved off student debt - from moving to rural areas to getting involved in some kind of public service. 

A stark reality of college graduation these days is that two-thirds of students who earn a bachelor's degree leave campus with debt in tow - $26,600, on average. That debt can escalate quickly for post-graduate and advanced degrees. For many people, it can take years, or even decades, to pay off the outstanding balance.

Choosing a college that has generous financial aid packages to begin with can help reduce student-loan debt. Some schools, such as Tufts University, near Boston, offer yearly payments toward retiring student loans for graduates who work in a qualifying public-service job. Various states have created similar programs that reward graduates for working in certain fields within the state.

There are ways for everyone to slash college debt. The programs aren't always easy to get into - nor easy to stick with. But here are nine programs that can help you significantly reduce your student-loan debt after graduation or even while you're still in school.


1.   Loan Forgiveness Tied to Public Service

Who's eligible: Government workers and nonprofit employees
The commitment: Ten years
Salary: Varies; the program is tied to different types of employment
Level of loan payback: Whatever's left after you make 120 monthly payments
Program run by: U.S. Department of Education

The Public Loan Forgiveness program, created in 2007, allows those who work for ten or more years in qualified public service jobs to make ten years of monthly payments to have their remaining Federal Direct loan balances forgiven. Participants must work at least 30 hours per week (or whatever their eligible employer defines as full-time work). Eligible employers include the government (federal, state or local); a 501(c)(3) nonprofit organization; a private public-service organization (such as a police force), AmeriCorps, or the Peace Corps.

Use the Department of Education's helpful Employment Certification form to confirm you're working at a job that's eligible for the program.

2.   AmeriCorps

Who's eligible: U.S. citizens, with varying age requirements
The commitment: Ten months
Salary: Varies, but no more than $24,200 annually
Level of loan payback: $5,645 or 15% payoff of your original federal Perkins loans per year for up to two years
Program run by: Corporation for National and Community Service

AmeriCorps is a popular choice for those who are interested in post-graduate public service. There are three categories: AmeriCorps Vista, AmeriCorps State and National, and AmeriCorps NCCC. All focus on serving disadvantaged neighborhoods or understaffed volunteer organizations. Vista is focused exclusively on fighting poverty, and NCCC focuses on specific projects (for example, assigning workers for a center that provides horseback riding for children with disabilities). State and National is the catch-all for everything else, from volunteering at a homeless shelter to teaching teenagers from low-income families how to cook healthy meals.

Volunteers receive what AmeriCorps dubs a "modest living allowance"-a monthly payment that adds up to no more than $24,200 a year. Depending on your program, some housing assistance may be available.

During your service, you can defer payment on your federal loans. After a year, you'll receive a financial award equal to the largest Pell Grant available for that year (in 2013, it's $5,645) that must be applied toward student loans. Vista volunteers can choose one of two financial awards: the $5,645 Pell Grant equivalent or a 15% payoff of the original federal Perkins loan amount.

AmeriCorps limits volunteers to two financial years. The awards must be applied to student loans within seven years.

3.  Teach for America

Who's eligible: U.S. citizens with a minimum 2.50 undergraduate GPA and any bachelor's degree
The commitment: Two years
Salary: $25,500 to $51,000
Level of loan payback: $11,290
Program run by: Teach For America

The all-teacher version of AmeriCorps, Teach for America (TFA) places applicants at schools in low-income communities with a goal of inspiring students and improving local test scores. TFA is especially in need of math, science and special-education teachers, as well as those who wish to specialize in early childhood education or are bilingual, preferably Spanish speakers.

Salaries vary based on the local cost of living. As with other AmeriCorps programs, your loans will be deferred during your service, and you will earn annual financial awards-equivalent to the largest Pell Grant available-that must be applied to your student loans.

Be prepared to start working before school begins: There's a five-week training program in the summer.

The federal government also supplies Teach grants of up to $4,000 for those who commit to teaching in high-need fields for at least four years. You must teach at a school that serves low-income students. There is one key difference from the other programs listed here: With TFA, only students still in college are eligible.


4.   Move Here, Please

Who's eligible: Anyone with a bachelor's degree and student-loan debt
The commitment: Varies
Salary: N/A (employment not offered directly by the programs)
Level of loan payback: Varies
Program run by: Various rural and town governments

Cities and counties across the U.S. are offering student-loan repayments in exchange for simply moving there. Yes, it's that easy. Niagara Falls has begun providing nearly $7,000 to recent graduates who live in a specific neighborhood within the city for two years. Fifty counties in Kansas, dubbed "Rural Opportunity Zones," dole out a maximum of $15,000 in student loan payments over five years to residents enrolled in the relocation program. The New Jersey legislature is reviewing a bill that could offer $7,000 in loan payments to 600 graduates who are willing to live in Trenton, Camden or Jersey City.

The Kansas program, which pays 20% of your student loans up to a maximum of $3,000 per year, has had 886 total applications since its inception in 2012, with 509 already approved this year. Payments are made to lenders in September or October of each year, bypassing the resident entirely. The money is taxable, so spreading the student-loan payments out over five years makes sense.

Read about the rest of the programs here. 

Gray


Android or Apple? How to buy the best tablet
Choice - Android vs Apple tablet
 
Choosing the right electronic tablet is complicated, whether you're considering an Apple model or an Android.  PCMagazine's Wendy Sheehan Donnell tells you what you need to know before you hit the store. (NOTE: This report is presented in an edited form.  To read the entire article, click here.) 
Here are the key factors you need to consider when shopping for a tablet:

First Off: Do You Even Need One?

Simply put, tablets aren't really filling any true need - even three years in, they're still neither replacements for computers nor smartphones.  While you can tackle productivity tasks on a tablet, you won't get a desktop-grade operating system, like you'll find on a PC.  Plus, since we're talking about slates here, we're talking about on-screen keyboards.

Of course, there are plenty of worthy add-on hardware keyboards, especially for the iPad, but few will provide the same comfort you'll experience with a laptop or a desktop.  The main focus of the tablets we'll discuss here is media consumption, not productivity.  If you want a slate or convertible tablet for work, take a look at the top-rated Windows 8 tablets we've tested, but be prepared to pay laptop prices, many run around the $1k mark.

Choose Your Operating System (OS)

Generally speaking, the greatest strength of Apple's iOS, the operating system on the iPad and iPad mini, is twofold: It's very clean and intuitive, and the wide selection of iPad apps that you can buy right on your tablet-more than 300,000 iPad-specific titles at the time of this writing-work uniformly well with very few exceptions.

Google's mobile OS, Android, is a more complicated story.  Besides having your choice of hardware from several manufacturers, at any given time, there are a few iterations of Android floating around on various devices.

The latest version, Android 4.2 (Jelly Bean), is the best yet, with maximum configurability, a top-notch notification system, fast, smooth Web browsing, and seamless integration with Google applications like Gmail, Google Maps, and Google Talk for video chat.  The latest Android version also adds support for multiple user logins so you can share your tablet with a friend or family member, a useful feature that's missing in Apple tablets.  The only problem: Right now, you can only find Android 4.2 on Google's own Nexus tablets and a small handful of others including a couple of Transformer models from Asus.

What About Apps?

What's a tablet without quality apps?  If you want every third-party app under the sun, right now, nothing out there beats the iPad with its 300,000+ programs and games designed specifically for Apple tablets.  The App Store is well-curated and monitored, offers a deep selection, and includes every popular app you can think of.  If a wide range of compelling apps that look good and work well your tablet is your main priority, Apple is your best bet.

Android has made some strides on app selection in the past year, courting more developers and offering more high-quality tablet apps, but it's still nowhere near the number Apple offers.  It's tough to say exactly how many tablet-optimized Android apps are available, but it's likely in the thousands, rather than the hundreds of thousands.

Screen Size and Storage

This consideration is a bit obvious, but size - both screen real estate and storage capacity - is important to consider.  First things first: When you hear the term "10-inch or 7-inch tablet" this refers to the size of the screen, measured diagonally, and not the size of the tablet itself.  Seven-inch tablets are considered small-screen, while 8.9- to 10-inch tablets are considered large screen.  Apple iPads, Google Nexus tablets, Amazon Kindle Fires, and B&N Nook HD tablets all come in both small- and large-screen iterations.

Samsung, for one, wants you to have multiple choices, so it offers its Android tablets in multiple screen sizes (10.1, 8.9, 8.0, 7.7, 7.0 inches, and even a phone/tablet hybrid, the Galaxy Note II with a 5.5-inch display and a stylus).

Screen resolution is important too, especially for ebook reading and Web surfing.  A sharp, bright display is key.  Right now, the Google Nexus 10 is the sharpest you'll find.

The weight of a tablet is one definite advantage it has over a laptop - but let's be clear, at around 1.44 pounds (in the case of the latest iPad) it's not cell-phone light.  This is true for small-screen tablets as well.  After you hold one with a single hand on a subway ride for 20 minutes, your hand will get tired.  Setting it flat in your lap, rather than propped up on a stand, can also be a little awkward.

Wi-Fi-Only vs. Cellular Models

Many tablets come in a Wi-Fi-only model or with the option of always-on cellular service from a wireless provider.  If you want to use your tablet to get online anywhere, you should opt for a model with a cell radio, like the aforementioned fourth-gen iPad, iPad mini, or the Amazon Kindle Fire HD 8.9, $244.00 at Amazon.

Of course, this adds to the device's price, and then you need to pay for cellular service. Generally, though, with a tablet, you can purchase data on a month-to-month basis, without signing a contract.

Another way to get your tablet online: Use your 3G or 4G phone as a Wi-Fi hotspot for your tablet - this won't work with every phone/tablet combo, so you should check with your carrier before you seal a deal.

Finally, before you buy, if you can, head to your local electronics store to get hands-on time with some different tablets, so you can see which feels and works best for you.  For the latest lab-tested tablet reviews, hit our Tablet Product Guide, and for the top models we've tested, check out The 10 Best Tablets.

Read the complete article here
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Disclosures: Certain sections of this commentary contain forward-looking statements that are based on our reasonable expectations, estimates, projections, and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. All indices are unmanaged and are not available for direct investment by the public. Past performance is not indicative of future results. The S&P 500 is based on the average performance of the 500 industrial stocks monitored by Standard & Poor's. The Nasdaq Composite Index measures the performance of all issues listed in the Nasdaq Stock Market, except for rights, warrants, units, and convertible debentures. The Dow Jones Industrial Average is computed by summing the prices of the stocks of 30 large companies and then dividing that total by an adjusted value, one which has been adjusted over the years to account for the effects of stock splits on the prices of the 30 companies. Dividends are reinvested to reflect the actual performance of the underlying securities. The MSCI EAFE Index is a float-adjusted market capitalization index designed to measure developed market equity performance, excluding the U.S. and Canada. The MSCI Emerging Markets Index is a market capitalization-weighted index composed of companies representative of the market structure of 26 emerging market countries in Europe, Latin America, and the Pacific Basin. The Russell 2000� Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index. The Barclays Capital Aggregate Bond Index is an unmanaged market value-weighted performance benchmark for investment-grade fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities with maturities of at least one year. The U.S. Treasury Index is based on the auctions of U.S. Treasury bills, or on the U.S. Treasury's daily yield curve. The Barclays Capital Mortgage-Backed Securities (MBS) Index is an unmanaged market value-weighted index of 15- and 30-year fixed-rate securities backed by mortgage pools of the Government National Mortgage Association (GNMA), Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (FHLMC), and balloon mortgages with fixed-rate coupons. The Barclays Capital Municipal Bond Index includes investment-grade, tax-exempt, and fixed-rate bonds with long-term maturities (greater than 2 years) selected from issues larger than $50 million. The Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index measures the performance of intermediate (1- to 10-year) U.S. TIPS.

Market Update
Happy days in the markets

October began with a whimper, as the federal government shut down in the face of a budget showdown between the political parties, but it ended with a bang, as the confrontation was temporarily defused and the Federal Reserve (Fed) elected to continue its stimulus program unchanged. Despite the angst that started the month, all of the major indices-domestic and international, equity and fixed income-posted strong gains for the month, with a robust rally following initial weakness.

The S&P 500 Index was up 4.60 percent for the month and was the best performer of the major U.S. indices, as the Dow Jones Industrial Average returned 2.88 percent and the Nasdaq gained 3.93 percent. Both the S&P 500 and the Dow rose to new all-time highs, and the Nasdaq rose to its highest level since the early 2000s. The strong rally appeared to be driven in part by the nomination of Janet Yellen as the next Fed chair and the expectation of continued central bank stimulus.

Fundamentals showed some strength as well, with companies reporting earnings and revenues that exceeded expectations for the quarter. One weak area, however, was the financial sector, which went from posting the best earnings growth to the worst. Although much of the decline came from JPMorgan Chase & Co., other major banks also showed weakness, which could be a troubling sign for the future.

Technically, the markets also remained strong. Despite several dips below the 50-day moving average, including early in the month, the numbers have continued to stay well above the 200-day average and face no resistance levels above.

International markets fared well, with the MSCI EAFE Index up 3.36 percent for the month, and the MSCI Emerging Markets Index up 4.76 percent. The EAFE was buoyed by better economic performance in Europe, with Spain and other countries moving out of recession and Germany and the United Kingdom showing improved growth. Emerging markets reacted positively to the Fed's expected continuation of stimulus.

Fixed income markets had a positive month (see chart), with the Barclay's Capital Aggregate Bond Index up 0.81 percent. Fixed income returns were helped by an interest rate decline over the month, from 2.61 percent to 2.55 percent for the benchmark 10-year Treasury bond. Global and particularly emerging market bonds performed very well, as concerns that reduced U.S. monetary stimulus would drive investors back into the U.S. dollar eased. Domestically, the high-yield bond sector performed best, while high-quality, short-duration bonds experienced the lowest returns.

Mood in the real economy is more subdued

While the financial markets rallied, the real economy was not as robust. The government shutdown and debt ceiling confrontation appeared to do real damage to consumer sentiment and employment. According to multiple indicators, consumer confidence declined throughout the month. The decline extended past the end of the shutdown, which suggests that this decreased optimism could continue.

Employment also showed signs of weakening, with initial jobless claims spiking-from 308,000 at the start of October to 374,000 during the shutdown-before drifting back down. Even at month-end, however, jobless claims remained much higher than at the start.

In addition, new job creation appeared to have slowed, with private reports of new jobs coming in well under expectations. Part of the problem created by the government shutdown is that the usual government-produced statistical reports have been disrupted. The Fed and investors have therefore been forced to make educated guesses regarding the jobs numbers based on available data.

Interest rates drop back, and the Fed stands pat

Investors greeted President Obama's nomination of Janet Yellen as the next Fed chair with cheers because of her perceived willingness to continue the stimulus program. The Fed seemed to validate this assumption by announcing at month-end that it would continue its stimulus program unchanged.

But the decision to continue the program was more probably caused by a combination of other factors. Firstly, the lack of data due to the delay in the release of government economic reports injected uncertainty. Secondly, the weakening of both employment and consumer sentiment put the jobs recovery in question. Thirdly, the Fed is very aware that another budget and debt ceiling confrontation looms early next year.

Although the stimulus has been good for financial markets, its stated purpose is to counter weakness in the real economy, and in that sense, the Fed's decision to continue it is not a good sign. But the continuation did result in a decrease in interest rates over the month, with both bond and mortgage rates inching down.

Worries over Washington recede-for the moment

The government shutdown, though worrying and damaging, ultimately wasn't significant. The debt ceiling, on the other hand, could have generated a systemic crisis. The agreement to end the confrontation halted the shutdown, but it did not solve the debt ceiling problem. It merely postponed it until early next year. That said, the postponement could effectively be for a much longer period, as the Treasury has been able to reload its "extraordinary measures," the off-balance sheet borrowing options that let the government operate even after it has hit the actual debt ceiling. These measures should allow the government to operate until April 15, when tax revenues come in. So it is quite possible that the debt ceiling issue has been removed as a systemic problem until late next year-which goes some way toward explaining the financial markets' enthusiastic reaction to the agreement.

Another part of the reaction is very probably an expectation that an agreement will be reached to change the next round of sequester spending cuts, which are due to start at the beginning of next year. Just as with the first round, these cuts would act to slow what is an already slow recovery. If a deal can be reached, the effects could well be positive for future growth.

Europe and Asia show better growth

October brought improved economic results in both Europe and Asia. The eurozone as a whole exited recession in the second quarter, and one of its weakest members, Spain, announced an end to its recession in the third quarter. Consumer demand appears to have stabilized, while business sentiment surveys indicate modest growth. A majority of members reported growth for the third month running, the best result since 2011.

China also appears to have resumed growing, with the third quarter showing the fastest rate of the year. This was only the second quarter in the last 10 that China's growth has accelerated. Concerns remain that growth may slow-and that much of the growth has been accomplished through investment rather than consumption-but overall the resumption was greeted with relief.

Looking forward

With slow growth in the U.S. and Europe, and resumed growth in China and emerging markets, worldwide economic conditions seem to be on an upswing. Risks in the U.S. are perceived to have, and in fact have, declined. And, although political risks remain, the odds of the worst outcomes coming to pass appear minimized.

Nevertheless, financial markets seem to have priced in a positive outlook, and higher stock prices may open the door for potential future pullbacks. So we can cheer the results so far, but investors must remain measured in their approach as we move forward.

Authored by Brad McMillan, vice president, chief investment officer, and Sean Fullerton, investment research analyst, at Commonwealth Financial Network.





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