These are he delicious, invasive species you'll be eating next. Are you ready for wild boar bruschetta?
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Starbuck's has a plan for evening dining. The chain has spent years working on a plan to give customers a reason to visit at night, too.
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Online magazine This Is Why I'm Broke is a one-stop-shop for the most unusual things you can buy on the internet. Here's where you can get that coffee table aquarium you've always wanted!
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Banned! Nine things you won't find in Russia. Vladimir Putin's Russia has barred a lot of things in recent years. Some of the restrictions alarm human rights watchers, while others are more amusing to outside observers.
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It may seem like you need to spend a fortune on educational toys for your kids these days, but you can beef up your child's smarts with some creative DIY projects.
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What is causing a living carpet of green slime to expand Lake Erie? The most severe outbreak in the past decade is now underway.
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Fifteen common expressions younger generations won't understand. Why do we "hang up" a phone?
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Some additions to your Bucket List. Seventeen trips every traveler should take at least once.
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 Samsung is offering users of rival Apple's iPhone the chance to try out one of its latest flagship phones for just $1.
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Three things car dealers don't want to hear you say. Remember these words next time you are haggling at the dealership.
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Oil is down, why are airlines not lowering prices? The recent precipitous drop in oil prices should lower costs for most industrial companies.
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Hyundai is readying a new version of the Elantra, its bestselling vehicle in the U.S. The redesigned 2017 Elantra will be shown for the first time in the U.S. at the Los Angeles Auto Show in November.
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We are starting a new series of videos on business as well as personal topics that we think you'll enjoy. Be sure to click on the image in the next section to view the video entitled "What is the cost of your investment fund advice?"
 Among our many interesting and helpful articles this time is a link to a site called This is Why I'm Broke. Hold on to your credit card because you won't believe the selection of innovative and unusual items they offer. In addition to the Coffee Table Aquarium pictured in the let-hand column, they have a water jet pack. Not something you need, but looks like fun!
As usual, Commonwealth Financial Network provides us with some useful financial management information. Be sure to check out their article warning about tax-fraud scam artists.
 As the summer comes to a close, we are all getting ready for the upcoming football season. No matter which team you support, the entire state will be keeping an eye on our Ohio State Buckeyes to see if they can repeat another national champ-ionship! Be sure to contact us with any comments or questions, at 614-888-2121 or 877-389-2121 toll free, or by e-mail at chornyak@chornyak.com.
Sincerely,
Joe
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What is the cost of your investment fund advice?
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This month's video will give you the answer to a question that we
encounter frequently at Chornyak & Associates: What determines how are we compensated for our services?
I think you will find the presentation very informative and I'm sure you'll be satisfied with the answer.
You must consider overall costs to you, both direct and indirect.
Please click on this link to view the video, or click on the image below.
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What to do if youre a victim of tax identity theft
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When it comes to filing tax returns, many people worry about completing every form correctly and according to the instructions. Unfortunately, taxpayers now have a bigger problem to contend with: the possibility that a scam artist may file a fraudulent return in their name.
Tax fraud happens all too frequently, according to the Internal Revenue Service, which estimates that it will process $21 billion in phony tax refunds next year.
How the scam works
To fraudulently file a tax return, a thief just needs your name, social security number (SSN), and date of birth. From there, he or she can easily falsify W-2 information and attempt to claim a refund in your name. You, the taxpayer, most likely won't find out about the fraud until it's too late-when you receive notification from the IRS that your real tax return has been rejected. Once you report the fraud, it can take six months or more to clear up the issue with the IRS and get your refund.
Cyber criminals obtain victims' information in a number of ways-posing as an IRS representative and asking for personal details via phone or e-mail, sending phishing e-mails, stealing your W-2 from your mailbox, and exploiting unsecured Wi-Fi networks, to name a few. Unfortunately, with tax fraud, your SSN has been compromised, which means that you may face other identity theft-related problems in the future.
What do you need to do?
Unlike a credit card number, an SSN cannot simply be canceled and changed when it's stolen. If you've fallen victim to tax identity theft, taking these steps can help you protect yourself from the fraudulent use of your SSN going forward.
- Notify the Federal Trade Commission (FTC), Social Security Administration (SSA), and IRS. The more quickly you take action, the less damage will be done. In addition to calling the IRS Identity Protection Specialized Unit at 800.908.4490 to report the theft, you'll want to file a complaint with the FTC and notify the SSA
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Complete and submit IRS Form 14039. If you
haven't already done so, fill out Form 14039, the Identify Theft Affidavit, so that the IRS is aware that your future returns may be at risk.
- Apply for an Identity Protection PIN (IP PIN).
Identity theft victims can register for a six-digit IP PIN, which the IRS uses to confirm your identity on future tax returns and prevent further misuse of your SSN.
- Notify one of the major credit bureaus.
Report the fraud and place an alert on your credit report with one of the three major credit bureaus: Experian, TransUnion, or Equifax. (When you file a report with one bureau, it is legally required to alert the other two.) A fraud alert on your credit report will require potential creditors or lenders to contact you directly and obtain permission before opening a new line of credit.
- Strongly consider purchasing credit monitoring
to keep tabs on your credit report. Credit monitoring services will not only alert you when someone applies for a new line of credit in your name, but they will monitor existing accounts and notify you of any changes. Many also offer recovery assistance services, monetary and legal assistance, and insurance that covers expert identity theft consulting, as well as financial relief.
� 2015 Commonwealth Financial Network�
Continue reading the article here.
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10 tactics to help teach your children the value of money
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 It is never too early to start exposing your children to monetary discussions so that they become savvy spenders or knowledge-based investors. This article by Ryan McKee of askmen.com makes some practical recommendations for introducing your children to the world of personal finance.
Many parents leave their kids out of the conversation when it comes to financial matters. The first time their children really hear anything about individual purchasing power is at 18-years-old, when credit card companies target them. If the conversation starts then, the chance of your child falling into debt and poor spending habits is high. Money should never be a taboo topic at any age. 1) Discuss The Family's Purchases And Bills
Talk about money whenever the opportunity arises. Whenever making purchases, discuss them with your child. Should I pay cash or credit? Don't leave them out of the loop when the check comes. Discuss tipping and service. When you sit down to do bills, show your children. Show them how much electricity is and how it is measured. Find and read to them interesting business examples, break it down into small explanations, and then ask them what they would do if they owned the company.
2) Define Risky vs. Conservative
Talk about what the two words mean and regularly point out examples in everyday life. You can also create mock circumstances that are "risky" for i nvesting and saving or make a game of it. For example, choose an unknown stock to follow and see if a pretend-investment produces a loss or a gain. Also discuss what gambling is and how investing differs. Then show them conservative investing examples with very little return. Discuss which is better in the short and long run and when it is foolish to invest and not to invest. 3) Start A Savings Account In Their Name
Many parents start an account for their child, but don't involve them in the details. This is a great time, if you haven't already done so, to open an account you both choose. Watch it grow together over time (albeit slowly) and discuss with them any current frustrations or excitement about future balances. Discuss the saving account's interest rate, returns, and possible bank options offered with savings accounts.
4) Give Them Mock Credit And A Budget
Talk to them about credit ratings and show them good ratings and bad ratings. Explain when credit starts, how to decrease and increase your score, and how people and businesses use credit. Back to school shopping is perfect for this. Start with a lower budget and go to stores. Assess what is needed before spending and then set a strategy for what to purchase to remain within budget. Then discuss what else is needed after the budget is reached. Should everything else be put on a credit card? Explain how long it will take to pay back and how much it will be when interest is added and compare to the necessity. 5) Help Them Discover What's Behind The Job Children need to understand jobs aren't just about money, nor are they just about passion. Ideally, adults choose careers where where the salary they're comfortable earning intersects enough with the things they like doing. If they don't care about being rich, they can pick any job they're passionate about and vice versa. Set the tone for how money should be used as a tool or resource and not a motivator for happiness and career success.
Read the rest of the article here.
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Sugar-glazed poison: Why sugary drinks
are linked to high death tolls
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 After reading this article you may never crave a sugary soda again! Nicholas Garcia of lifehack.org points out the serious dangers of daily consumption of drinks most Americans are accustomed to having every day.
We all know that sugary drinks are bad for us. In fact, you can't go a day without hearing or seeing something stating that sodas are unhealthy.
That said, do we really understand just how much these kinds of beverages are negatively affecting our health? The answer is no, as despite the fact that 184,000 deaths a year are linked to them, sugary drinks are as popular as ever.
The root of the problem is the sugar itself, which can cause a number of maladies and diseases when consumed in high amounts on a daily basis. Which of these do you have to worry about the most? Well, in my mind, sugary drinks should be avoided because...
1. They increase your risk of acquiring diabetes.
This one should come as no surprise. With the rise in popularity of sugary drinks, more and more people are at risk of acquiring diabetes. Indeed, researchers believe that around 133,000 diabetes-related deaths a year are caused by over-consumption of sodas and other sugar-laden beverages.
2. They can heighten your blood pressure.
Overloading your system with sugar has been known to spike blood pressure numbers, in part because sugar consumption is one of the major contributing factors to weight gain.
Why does this matter? Well, the CDC estimates that nearly 360,000 American deaths a year can be attributed in part to high blood pressure. While high blood pressure doesn't sound as dangerous as diabetes, it's perhaps even more deadly overall.
3. They can ruin your liver.
Most folks know that consuming lots of alcohol will damage your liver in the long run, but few realize that sugary drinks can do the exact same thing.
If you abuse your body with too much sugar over a lengthy period of time, your liver will become insulin resistant, which will lead to several other maladies, including diabetes.
And to make matters worse, it leaves you susceptible to liver disease, which is responsible for nearly 40,000 deaths a year.
4. They leave you vulnerable to cancer.
While sugar isn't directly linked to cancer, weight gain linked to sugar consumption is.
Of all of the yearly deaths to cancer, researchers in 2010 found that 6,450 of them were a direct result of people's intake of sugary beverages.
In this day and age, it's probably a good idea to cut out all of the things that are heavily linked to cancer, especially since it seems like there are so many ways to increase your risk of acquiring it already.
5. They hurt your heart.
Each year, 45,000 cardiovascular disease-related deaths are linked directly to the consumption of sugary drinks.
What's the connection, you ask? Well, the main one is that an above-average intake of sugar is directly linked to weight gain. And being overweight increases your risk of acquiring heart disease by an exponential amount.
For your own good, it's best to do all you can to stave off heart disease, as it's responsible for a quarter of all deaths in the United States every year.
So in some ways that "45,000" number referenced above is slightly misleading, as the true number of folks who succumb to cardiovascular disease is closer to 610,000 a year. While only a fraction of those were directly linked to sugary drinks, there's no doubt that they probably played some kind of role in the majority of those deaths.
6. They clog your brain.
And I don't mean in a metaphorical sense, either. Studies have shown that having high blood sugar greatly increases your chance of dying as a result of a stroke. That same study revealed that those with normal sugar levels had a much higher chance of surviving a stroke, should they have one.
Why is this? Well, excess sugar intake causes lactic acid to build up in your brain, which inhibits the flow of blood, causing a stroke. Therefore, having a stroke whilst also having high blood sugar is a bit of a double whammy...not only does a part of your brain lose access to normal blood flow, but it's harder for those passageways to reopen after the fact, thus increasing the mortality rate compared to those with normal blood sugar.
This is important, because although nearly 800,000 people in the U.S. have a stroke each year, only 130,000 lead to deaths. Limiting your intake of sugary drinks is therefore crucial if you want to better your chances of pulling through after something so traumatic.
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Market Update
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Markets drop around the world
August was the worst month in years for U.S. and international markets. Though steady for most of the month, in the face of weak Chinese economic data and fears of a pending global slowdown, markets experienced substantial losses at month-end.
Declines were widespread, with every major equity index down and many fixed income indices down as well. The S&P 500 Index closed out August down 6.03 percent, the Dow Jones Industrial Average was down 6.20 percent, and the Nasdaq declined 6.86 percent.
The losses came despite reasonably strong current fundamentals. With 98 percent of companies on the S&P 500 reporting results by the end of August, per FactSet, almost three-quarters had beaten earnings expectations and half had beaten sales estimates. An overall earnings growth rate decline of 0.7 percent was not great, but it was significantly better than the decline of 4.6 percent expected at the start of the quarter. Nine of 10 sectors ended the quarter with better-than-expected earnings growth.
Although the earnings surprise level was consistent with past quarters, the sales surprise level was much lower, suggesting that companies may be making up for top-line growth with financial engineering. This moderately strong but softening sales growth was very likely a contributor to current market weakness.
Technicals turned strongly negative by month-end. All three major U.S. indices finished August well below their 200-day moving averages, a typical sign of a change in trend. All are now also well below their long-term support levels and will face resistance as they try to recover above those levels, suggesting that further weakness is possible.
Developed international markets were hit by the same factors as U.S. markets, with the MSCI EAFE Index posting a 7.36-percent decline. Just as with the U.S. indices, the EAFE held steady at the beginning of the month but then dropped on news of weakness in China. The feeble market performance notwithstanding, fundamentals for the European economy continue to improve in most countries and in the eurozone as a whole. Further, political risks appear to be in decline, suggesting that the market drop was systemic and not linked to Europe itself.
Emerging markets, as represented by the MSCI Emerging Markets Index, did worst of all, losing 9.20 percent in August. The substantial market declines in China were one major reason, but other contributing factors included continuing low commodity prices-which hurt many emerging economies-and rolling currency devaluations.
The global nature of the declines in equity markets during the month can be seen in Figure 1, which shows the daily performance of several major indices indexed to their respective starting prices on August 3.
Fixed income also suffered in August. The Barclays Capital U.S. Aggregate Bond Index lost 0.14 percent, hit by declines in credit sectors of the market. In addition, the Barclays Capital U.S. Corporate High Yield Index was down a significant 1.74 percent, largely due to an ongoing decline in oil prices, which continued to erode the credit quality of energy companies.
Much like other markets, volatility was noticeable in the fixed income arena toward the end of August, as investors moved into perceived safe-haven assets. This rotation to safety drove the 10-year Treasury rate to 2.01 percent on August 24, a level not seen since last April. Still, despite this dramatic decrease in rates during the height of equity market volatility, 10-year Treasury rates ended August at 2.21 percent-comparable to their 2.20-percent level at the end of July.
August revisions show U.S. economy growing even faster
U.S. economic reports in August were strong. Most notably, second-quarter gross domestic product (GDP) growth was revised upward, from a respectable 2.3 percent to a strong 3.7 percent, based on continued consumer spending growth. Consumer confidence dropped by one measure early in the month before fully recovering at month-end, and consumer spending continued to accelerate in July. Business confidence went along for the ride, with the major survey of the service sector reaching an all-time high. Housing starts increased, with upward revisions to previous months. Additionally, prices continued to rise as mortgage foreclosures and delinquencies fell further.
Employment growth was strong. Initial jobless claims stayed under 300,000, a sign of strength. The unemployment rate was stable, while the underemployment rate continued to decline, also a sign of strength. July's increase of 215,000 jobs was slightly below expectations, but upward revisions of 14,000 jobs to the numbers for prior months more than made up the difference. Another sign of strength-average hours worked rose by enough to potentially signal demand for another 300,000 jobs.
But there were areas of weakness. Business investment declined during the second quarter, due largely to the strong dollar's effect on manufacturing exports and continued declines in energy investment because of low oil prices. Pending home sales pulled back a bit on a month-over-month basis. In addition, there were two surprisingly negative statistics-in industrial production and consumer confidence-which indicated substantial declines. Even though later data suggested that these indicators were outliers, they are worth noting.
The Federal Reserve remained ambivalent about rate increases. It remains to be seen what effect, if any, the recent market turmoil will have on the Fed's decision. At this point, a rate increase in the near future appears to remain on the table.
Overall, the U.S. economy continues to grow and fundamentals remain strong. The robust upward revision of GDP growth for the second quarter, combined with continued improvement across the board in economic data, suggests that growth in the second half of 2015 should be as strong as-or stronger than-in the first.
International risks return to the forefront
Although the U.S. economy is growing and Europe has done well, China has suffered from a slowdown and financial market turmoil. Along with a slowing economy, which may even be tipping into contraction in some sectors, China has endured a stock market crash. In fact, recent U.S. market turbulence pales when compared with Chinese market declines.
The problem that China faces is one of eroding confidence. Its government has failed to stabilize its stock markets and stimulate growth. These factors, combined with the recent explosion in Tianjin, have many observers starting to question the government's competence. This matters because, for the first time ever, it is China that has contributed the majority of global growth in the most recent recovery. Should China's growth continue to slow, it is very possible that the rest of the world might move closer to recession.
In addition, policy actions that China has taken, notably the recent devaluation of the yuan, have rattled global economies and markets. By devaluing its currency without warning, China has raised the suspicion that it was making a desperate move to rekindle export growth, further decreasing international confidence. This could lead other countries that compete directly with China to adjust their currencies-a scenario reminiscent of the Asian financial crisis of the late 1990s.
Because the loss of confidence has come from China, instead of the U.S., the solution has to come from it as well, which means that the uncertainty will likely continue. But even though the U.S. is undeniably exposed to China, because we are a relatively closed economy and have relatively little direct exposure to China's financial markets and economy, the damage to U.S. markets may be limited and short lived.
Though China is the primary source of economic risk, other hotspots, like Syria and Iraq (because of the ISIS insurgency), still simmer. In addition, oil markets continue to shake economies, with extreme volatility, making it hard to plan and consequently curtailing investment worldwide. Finally, although Europe's growth has improved substantially, questions about the sustainability of its recovery remain.
Thus far, U.S. markets have suffered from uncertainty overseas, but given the lower political uncertainty and stronger economic growth we have here, that may not continue. With markets still priced at historically high levels, though, risks remain, and these risks could result in continued declines if situations worsen overseas.
A difficult August could lead to a difficult fall
Where does this leave us? U.S. fundamentals are strong (e.g., good economic and employment growth, stronger-than-expected earnings growth), so the uncertainty is coming from elsewhere, suggesting that the volatility may go on.
China's economy still seems to be weakening, and we can see storms forming in emerging markets following the devaluation of the yuan. Europe is growing but remains politically fraught, with the migrant crisis only the latest to shake European unity. The U.S.-Iran nuclear deal continues to destabilize relationships throughout the Middle East.
Here in the U.S., we have largely been insulated from these trends. But as August has shown, that may not continue to be the case. In addition to international problems, we face the prospect of the Fed deciding to increase interest rates. This move would ratify the U.S. recovery, but it could also rattle financial markets.
Looking at the big picture, however, the U.S. is still the most politically stable and economically solid of the major economies. Given the strong economic fundamentals in the U.S., and the relative lack of exposure to the rest of the world, the outlook for the medium and longer term remains solid. Short-term volatility may rock the boat but not enough to affect longer-term outcomes. As always, a properly constructed portfolio may lead to positive returns in good times and provide a stable framework in bad times, regardless of sunshine or stormy weather.
Authored by Brad McMillan, senior vice president, chief investment officer at Commonwealth Financial Network.
All information according to Bloomberg, unless stated otherwise.
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