Lying with numbers is easier than with words. Why? People equate math with science and science with fact. The S&P 500 isn’t lying to us. In fact all statistics below are accurate. We aren’t being lied to but we sure are being misled. Here’s an interesting chart put together by Goldman Sachs: YTD the [...]
Although the SECURE Act (“Setting Every Community Up for Retirement”) was largely focused on retirement rules (e.g. changing RMD age from 70 ½ to 72) several provisions were included that impact an important way many of us save for the education of our children. So-called §529 plans – a tax-deferred and possibly tax-free means of [...]
The Internal Revenue Service issued its annual inflation adjustment for health savings accounts. For 2021 the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,600. That’s up from $3,550 in 2020. For 2021 the annual limitation on deductions for an individual with family coverage under a [...]
When the government rushes out a program that lacks oversight and is based upon arbitrary rules it’s going to create many unintended consequences. If you’re pro-Democrat or pro-Republican you can find what you like/dislike about ‘stimulus’ payments and head over to Twitter for ‘reasonable and intelligent discourse.’ This post is not about commentary. We’ve already [...]
Want to play the audit lottery? Taxpayers are often concerned about an audit. There's a proverbially better chance of being struck by lightning.
Now that I’ve hiked my pants well above my waist and yelled at those darned kids to stay off my lawn it’s time to do some serious kvetching. It used to be there would be a winner and a loser (or several losers). That’s how life worked. Now society has decided that’s too harsh. It [...]
Maybe it’s fight or flight but when times are good people tend to worry about the next downturn. When times are bad people tend to worry it can only get worse. It’s why those preaching negativity sound astute whereas those being pragmatic or positive sound out of touch with reality. Consider the economy and its [...]
The so-called TINA trade (“there is no alternative”) suggests stocks are the only place to invest. Cash is yielding nothing unless you want a 1-year CD at 0.10%. The 10-year Treasury (currently at 0.695%) is risky as rates have nowhere to go but up. Corporate bonds might be attractive on a risk/return basis but for [...]
After Friday’s jump (credited to the jobs report but, frankly, “pundits” always confuse correlation with causation) the S&P 500 was roughly even YTD. After Mon’s increase the S&P 500 closed positive for the year. That’s right – despite all the handwringing and proverbial jumping out of windows by many investors the S&P 500 is positive [...]
The human condition prevents us from accepting a rather simple truth – no one knows the future. Anyone claiming to have insight is intellectually dishonest at best or an unqualified liar at worst. It’s no surprise, then, that we’re big fans of this commentary.