In a perfect world, there would be no divorce, no one would live together without the benefit of wedlock, and assets would be distributed amicably and fairly when two people split. But that’s not the world we live in.

 

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Flip through a magazine, scan a newspaper, or channel surf and you see them everywhere: Ads that promise quick and easy weight loss without diet or exercise. Wouldn’t it be nice if — as the ads claim — you could lose weight simply by taking a pill, wearing a patch, or rubbing in a cream? Too bad claims like that are almost always false.

 

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With the S&P 500 down 10% on the year and the real estate market in an even more precipitous downfall investors are looking at another way to make profits: collectibles.

 

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There’s an old joke which says the stock market has predicted nine of the last five recessions. But whether we are technically in a recession or not it sure feels like one. We seem to have the perfect storm of economic negativity—rising unemployment, a credit crisis, a catastrophe in the housing sector and waning consumer confidence

 

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A 401(k) plan is a company-sponsored qualified retirement plan for employees. Contributions and earnings in a 401(k) plan are not subject to federal and state income taxes until the funds are withdrawn. A 401(k) plan allows you to save money on a pretax basis, and most employers will contribute matching funds to make the 401(k) plan even more lucrative. The problem is folks often mismanage their plans. Here’s some of the common mistakes people make when it comes to their 401(k).

 

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Experts say less than 10% of people who make New Years’ resolutions actually keep them. My mother used to say that “the road to hell was paved with good intentions”—no doubt all those unfulfilled resolutions.

 

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Parents tell children to eat their vegetables. So the children try. Investment Advisors tell adults to be long-term investors—to “buy and hold” stocks and mutual funds for the long term. So investors try. But “long term” doesn’t mean forever and that’s where the strategy often goes sour.

 

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Seems like everyone is “going green” these days. And why not? If we don’t start getting serious about conserving energy and protecting the environment; there isn’t going to much of a planet left for future generations to worry about.

 

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In America when something goes wrong, folks just don’t accept it—they file a lawsuit. The subprime mortgage mess is no exception. Those caught in the subprime whirlpool, home buyers, shareholders and investment banks are reacting with a vengeance against those they feel are to blame.

 

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Ever want to attend an invitation only Oscar party, drive a formula one race car, be a fighter pilot for a day or go on the field during the half time entertainment show at the Super bowl? Now, thanks to a new breed of “luxury vacation brokers” if you can imagine it they can arrange it—provided you’re willing to pay the price

 

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In our last issue we examined two forms of business ownership; the S-Corporation and the C-Corporation. This week we’ll scrutinize a form of ownership which many advisors feel combines the best features of both a corporation and a partnership—The Limited Liability Company or LLC

 

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If you’re been considering incorporating your business it’s just not be as simple as deciding whether to be a “S”-Corp or a “C”-Corp. There are other matters to contemplate, such as what services your company performs and how many owners are involved in the business.

 

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With ever-more sophisticated computers, scanners and color copiers the Treasury Department definitely has its hands full trying to prevent counterfeiting. With the upcoming planned changes to Ben Franklin and the $100 bill it is obvious that the previous changes to U.S. Currency--begun in the 1990's--were only just the start.

 

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When buying a new home, or shopping for a vacation or car people don’t hesitate to negotiate. Why is it they don’t do the same when it comes to medical services? Perhaps because up until now they didn’t realize they could.

 

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Let’s face it (you’ll get the pun in a moment)—plastic surgery is no longer something only for the Hollywood elite. More and more “ordinary folks”—both male and female—are going under the knife to improve their looks.

 

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Most people assume you have to wait until age 59 1/2 in order to access your IRA account without penalty. While that is generally true there are ways to tap your account without giving the IRA an extra 10 percent.

 

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There's an old expression that a lie travels halfway round the world before the truth can make it out of the driveway. These days, thanks to email and the Internet the truth can't even make it that far.

 

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The National Highway Traffic Safety Administration estimates that alcohol plays a role in 40% of all traffic fatalities. If that's not enough to keep you from drinking and driving consider this: Even a simple DUI not involving an accident can cost you upwards of $10,000.

 

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An estate planning question I often get from clients is "How can I provide for a disabled child or parent without disqualifying them from Medicaid?" The answer is a "Special Needs Trust."

 

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Republicans and democrats rarely agree on much theses days, but one issue that both sides of the aisle seems to be coming together on — our national health care system is broken and in need of wide scale reform. The debate will center around how to fix the problem not if there is a problem.

 

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I’m often asked if there are any traits or habits which my affluent clients share. And while I’m often tempted to answer “Having the good sense to choose me as their investment advisor” the truth is they do reveal a common character trait—they tend to be thrifty.

 

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That deafening wailing you heard last week was the sound of millions of Blackberry subscribers who suddenly found themselves without service. There’s a reason the owners of these small handheld communication devices affectionately refer to them as “crackberrys”—the darn things are addictive.

 

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The headlines keep screaming about how millions of Americans are going to lose their homes thanks primarily to the “predatory” practices of so called sub-prime lenders. But why all the shock and indignation that the sub-prime market is a mess? You didn’t have to be a rocket scientist to figure out that if you loan money to people who aren’t credit worthy in the first place, and then raise their interest rates, you’re going to end up with a bunch of problem loans on your hands. The banks are blaming the borrowers but that’s like selling a person a car with faulty brakes and then insisting they must be a bad driver when they get into an accident. The sub-prime lenders have mostly themselves to blame.

 

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If you’re a high net worth individual whose tired of paying income taxes it may be time to take a look at the best secret in the investment universe—municipal bonds.

 

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If you own your own home then you are most likely aware of the generous tax break available when you sell it. Qualify and you can lock in a tax free profit of up to $250,000 if you’re single or $500,000 if you file a joint return. You won’t owe Uncle Sam a dime.

 

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The media reaction to last week’s stock market decline was all too predictable: “The End is Near”, “Get Out of the Market Now”, “We’re Headed for a Recession” and on and on. Problem is, as the old joke goes, the media has predicted 30 of the last five recessions.

 

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When someone refers to the “stock market” what does that mean to you? Are they talking about the stocks that trade on one of the major exchanges, all the stocks in the United States, or all the stocks in the world?

 

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When someone refers to the “stock market” what does that mean to you? Are they talking about the stocks that trade on one of the major exchanges, all the stocks in the United States, or all the stocks in the world?

 

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If you are like many investors, you probably have far too little of your portfolio invested in international stocks. This is true even though investors have learned how important it is to diversify across investment styles, sectors and market capitalization.

 

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Most analysts think 2007 will be another good year for stocks, but perhaps not as strong as last year. A 10% gain in the S&P 500 index, compared with 14% in 2006 would take the index above its record high of 1527 set in March 2000 and would probably be enough to please most investors. But before you focus on gain you have to look at investment objectives.

 

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Were the Christmas’ of my youth really so much more special, or is it just that nostalgia can be such a seductive liar? After all, the past always seems like such a work of art; free of irrelevancies and loose ends.

 

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Many stock investors just assume that when they wish to make a trade they have to call their broker or enter the order on line and then wait to see what price they paid. But there are ways to manage the process automatically which can help you to maximize profits or minimize losses.

 

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This is the time of year that tends to put people in a giving mood. But if you’re like most of us, you’d prefer to confine that generosity to friends, family and good causes—not the federal government. That’s why it is important to put in place now strategies that will help reduce your 2006 income tax bill.

 

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Sometimes I can’t help but wonder if major corporations introduce ‘dead on arrival’ product ideas just to see how gullible the buying public might be. The latest ridiculous idea to hit the shelves: the Phillips Ambilight television...

 

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One of the most serious and long-lasting effects of the collapse of last decade's bull market is also one of the least talked about—many investors forgot the importance of goal setting, patience and discipline.

 

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There is an old expression which states “there are no good or bad assets, only cheap or expensive ones.” This week we’ll take a closer look at so called “value investing” an investment style which favors good stocks at great prices over great stocks at good prices. Of course, it’s not quite as simple as it sounds.

 

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A few weeks back in an article entitled “Trusts With a Twist” we examined some of the more unusual types of trusts used for specialized situations. This week we take a closer look at the more traditional type of trust instruments.

 

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The Pension Protection Act of 2006 makes permanent a number of tax rules passed in 2001, but were set to expire in 2010. It also includes changes for IRAs, 401(k)s, 403(b)s, and pension plans that will make it easier for you to save for retirement and college.

 

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If the cliché “it is always darkest before the dawn” has any truth to it, then those of you who know me personally would probably agree that I’ve been forced to wander around in pitch blackness for about three years now. In fact, as each day goes by I find myself identifying more and more with Howard Beal, the eccentric newscaster from the movie “Network” who urged his viewers to get up and declare “I’m mad as hell and I’m not going to take this anymore!”

 

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Most of the time when doing estate planning for my clients, the type of trust I frequently end up recommending is a Living Trust with special marital provisions to minimize estate taxes and protect the distribution of assets to the heirs. But there are also several specialized trusts available which can used to solve unique estate planning needs.

 

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Dangle a 401(k) plan or similar tax deferred retirement plan in front of most Americans, and they'll jump right in. People know they need to save and invest for the future. But there is one troubling problem. Once participants set their plan up, they rarely make any changes in their investment strategy.

 

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What has 420,000 plans, 44 million participants and $2 trillion in assets? 401(k) retirement plans, the most popular form of pension program presently offered by almost half of all American companies.

 

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If you are like 99.99% of all mutual fund investors you have never bothered to read a fund prospectus. That’s not surprising, since I doubt most investment advisors have ever bothered to read one either—at least not cover to cover. So how can you be an informed investor without suffering through a document more painful to endure than your average root canal? Mutual Fund fact sheets.

 

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This has nothing to do with whether you’re a Republican, a Democrat or a disciple of the Rev. Sun Myung Moon. It has do with the incredibly dumb things the party in control of Congress (currently the GOP) tries to get away with when they think no one is watching.

 

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One of my favorite cartoons growing up was Yogi Bear. I used to love the way Yogi and his sidekick Boo-Boo were always getting the best of Ranger Smith and would proudly announce, “I’m smarter than the av-er-age bear!”  (Okay, I admit I occasionally still watch reruns of the show on the Cartoon Network, but that’s besides the point). The real issue is whether Yogi and his fellow bears are smarter then the av-er-age bulls when it comes to the recent retreat in the stock market.

 

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Is it okay for the government to spy on us to “protect” us from terrorism? The New York Times revealed last week that the National Security Administration was mining through the telephone and Internet communications of thousands of Americans without first seeking a warrant from Foreign Intelligence Surveillance Court (FISC) as required by the U.S. Patriot Act—even though the granting of such warrants is almost never denied. As expected, the Administration defended its illegal behavior by claiming it was necessary to protect the country from another 9-11 style attack.

 

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Hardly a day goes by that a client doesn’t ask, “How’s the market doing?” My typical response is “About the same”. That answer isn’t nearly as flippant as it sounds because the truth is over the long haul the movement of the market is fairly predictable. Notice I said “the movement of the market” is predictable not the movement of individual stocks or mutual funds.

 

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Competing in an ever-changing economy requires companies to establish a flexible workforce structure that allows for rapid adjustments without the negative effects associated with downsizing, upsizing and other workforce shifts. To accomplish this many companies are turning to independent contractors.

 

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What looks like a mutual fund, acts like a mutual fund, but trades like a stock? Exchange Traded Funds or ETFs as they are more commonly known—a basket of securities designed to replicate the performance of a stock or bond index such as the S&P 500, Dow Jones Industrial Average—which are listed on an exchange and can be traded intra-day just like a stock.

 

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In less than a month our least favorite Uncle—Uncle Sam—will come knocking on our doors with his hand out. And that means the schemers and scam artists who would lead you to believe that all of your taxes can be legally avoided will be out in full force.

 

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The wealth of US families barely grew from 2001 to 2004 as the economy emerged from the first recession in a decade and consumers took on more debt according to a Federal Reserve report released last week.

 

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There is an old joke that says “if you sit down at a poker table and can't spot the sucker who will be taken that night, get up - it's you”. Ironically, the same can be said for the investment decisions you make. If you don’t know why you’re investing in the things you are investing in it’s time to get out of the game.

 

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When we first wrote about the new Medicare Prescription Drug program last October (long before the national media paid it any notice) we thought there might be some glitches when the program was rolled out in January. We’re just surprised that the problems have been so extensive.

 

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We’ve polished our crystal ball in the hopes of finding this year’s “stock picks to click”, aka Athena’s Annual Sweet 15. It is going to be tough to beat last year’s 10.1% average annual gain but we think we’re up to the challenge.

 

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A belated Happy New Year to everyone. I apologize for being a bit tardy getting out the first edition MoneyWatch for 2K-6 but with the holidays and the moving of our corporate offices this is the first chance I’ve gotten to catch my breath.

 

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When someone mentions being visited by a older gentlemen with white hair and a beard, most of us think of St. Nick. But in just a little over four months another white bearded fella will come calling—Uncle Sam. Unfortunately unlike St. Nicholas, Uncle Sam comes to take, not to give. But by doing some planning now you can make next April's visit less painful.

 

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Like nearly everyone else in America I have succumbed to the idea that the Christmas season now starts around mid-August and lasts until the end of January. And despite my decision to “go along to get along” I somehow seem to have successfully resisted the urge to put up my Christmas decorations prior to Halloween— but just barely.

 

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If we’re being truthful, me and just about every other investment advisor in the business five years ago missed predicting an end to the stock market bubble of the late 90’s. The signs were there, the ratio of stock prices to corporate earnings eventually reached more than twice its historic level by 2000, but we chose to dismiss that and other signals. That’s why when you examine what has been going on with housing market over the last several years I can’t help but wonder if we are on the verge of another bubble burst.

 

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Being chairman of America’s central bank is no easy task, as new Federal Reserve Chairman Ben Bernanke is soon to find out. After all, under outgoing chief Alan Greenspan the Fed proved it is possible to limit unemployment, regulate economic growth and control inflation—-all at the same time. That’s a tough act to follow.

 

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Will Rogers once said “The difference between death and taxes is death doesn’t get any worse each time Congress meets.” Unfortunately for us, and our wallets, tax reform seems to be the hot topic in Washington again these days.

 

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When a disaster strikes, taxes are probably not the first thing that comes to the minds of the survivors. However, knowing the tax implications of disasters and applicable rules can help to ease the pain and hardship of the financial loss.

 

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If you are eligible for Medicare, or soon will be, there are some important changes to the program which will go into effect next year that you should familiarize yourself with now. The most important of these changes is something called “The Medicare Advantage”.

 

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Nothing seems to encourage people to open up their hearts and their pocketbooks more than watching fellow human beings suffer, and the response to Hurricane Katrina has been no different. To date Americans have contributed at least $670-million to help the victims of the disaster, dwarfing the $239-million that had been donated by the American public to charitable causes ten days after the 2001 terrorist attacks. Unfortunately, such kindness also brings out a certain element of scam artists who would attempt to capitalize upon this generosity for their own gain.

 

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The next time someone mentions DIAMONDS, VIPERS or SPIDERS to you there’s a good chance they won’t be talking about an article they just read in National Geographic but rather a unique financial instrument that has caught the eye of many investors—Exchange Traded Funds or ETFs.

 

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I don’t usually use my newsletter as a place to blog, but it is the middle of the long hot summer, many of my clients are on vacation and there are just so many columns you can write about Roth IRA’s. So what the hell—I am going to use this week’s edition as an opportunity to vent about something that has really annoyed me; the cable news media’s relentless obsession with the disappearance of Natalee Holloway.

 

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When it comes to naming the best places in America to live, I suspect most folks might be tempted to name the city where they reside—otherwise, why bother to live there? Money Magazine takes a somewhat more unbiased approach when coming up with their annual “100 Best Places to Live in America” list. Some of the towns that made the cut may surprise you.

 

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If you were Bill Gates and you had the all the money to spend on whatever you wanted whenever you wanted it, what would it be? The typical response might be to buy a 50 acre estate in Napa or a 100 foot yacht to sail the ocean, but here are some unusually fun luxury items that might also tickle your fancy—for that day you finally win the Mega-Millions lottery.

 

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What would you do with an extra $250,000? Would you use it to bid on having lunch with financier Warren Buffet? For the third year in a row it looks as though someone will; as of Friday afternoon the high bid on Ebay for lunch with Warren was $250,100 submitted by a California money manager.

 

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Last week, an “unauthorized individual” infiltrated the computer network of a third-party payment processor and may have stolen up to 40 million credit card numbers. About 13.9 million of those 40 million cards were MasterCard accounts, and a MasterCard spokesman said (presumably with a straight face) that only about 68,000 of its card holders are at “higher levels of risk” for identity theft.

 

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With the parents of millions of baby boomers now well into their 70’s and 80’s, many of their children face a perplexing issue: what to do with mom and dad when they are no longer able to care for themselves?

 

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Hedge funds are a kind of mutual fund that requires a large initial investment, sometimes as much as $1 million. They don't invest in stocks or bonds and hold them the way traditional funds do—instead they buy and sell quickly, and can make money by betting that a given stock will go down as often as they bet it will rise. The rapid trading they engage in, which can be triggered by the slightest movement in a stock, is reminiscent of day traders of the 1990s, but with hundreds of millions of dollars at a time.

 

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According to the Federal Reserve's latest survey of household finances, the net worth of American families rebounded by 19% over the last two years to $46.6 trillion, eclipsing the previous high of $41.7 trillion at the pinnacle of the New Economy frenzy in early 2000. Now it’s looking more like you’ll have an opportunity to keep that wealth when you die.

 

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Individual consumers aren't the only victims of fraud. Businesses, from large corporations to small “Mom and Pop” stores, are targets for a variety of illegal schemes. These cons range from simple to sophisticated with the perpetrators relying upon the mail, the telephone and the Internet to deliver a variety of phony pitches. Here’s some of the more common ones:

 

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Buying a new car used to be about as much fun as having a root canal. Unless you were willing to traipse from dealership to dealership it was impossible to know if you were getting a good deal and even then it was hard to be certain. Thanks to the Internet all of that has changed. Now you can comparison shop from the privacy of your home and get several price quotes before ever leaving your computer screen.

 

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If you’re like the majority of Americans you hope to die at home, without pain, surrounded by family and friends. Yet three out of four people die in a hospital or a nursing home; 28 percent of seniors spend time in intensive-care units before they die; and one-third of people of all ages die suddenly without warning.

 

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One of the most often overlooked portfolio alternatives is something called a REIT (pronounced “reet”) which is short for Real Estate Investment Trust. REITs are securities that sell like stocks on the major exchanges, or as shares in a mutual fund, and invest directly in real estate, either through the purchase of property or by investing in mortgages. 

 

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We’re all human, even though my wife says she has her doubts about me at times. That’s why it is so easy for us to fall prey to one of the very basic primal emotions—greed. Even when we know better, sometimes it is so hard to “just say no” when someone offers to let us in on the ground floor of that “wonderful new opportunity” that is going to make everyone richer than Bill Gates.

 

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