Climate change, economy, retirement

Rising Seas and the Risk to Retirees

 

Florida has always been considered a favorite retirement destination. The warmer climate attracting older American’s who have health issues ranging from Asthma to Arthritis, from Heart Disease to Parkinson’s. 20% of Florida’s population is over age 65 (compared to only 15% in New Jersey).

 

An additional challenge facing retirees in both Florida and New Jersey is climate change risk due to rising seas, storm surge and the potential loss of property in coastal communities.

Continue reading “Rising Seas and the Risk to Retirees”

economy, retirement

Trick or Treat? The Potential Downside of Tax Reform for Investors

 

There is an old story that goes “beware what you wish for…” Things don’t always turn out as expected.

 

Along those lines I watched a fascinating interview of Tom Lee, head of research at Fundstrat, on Bloomberg this morning.

 

His feeling is that a Tax cut, as it is currently being discussed, could be negative for investors. “There’s two reasons; First, when cutting tax rate you raise the after tax cost of debt. Leverage becomes a problem for a lot of businesses. Second, because you are cutting tax rates you are effectively giving cash to all businesses, even businesses where you want to reduce allocation.“

Continue reading “Trick or Treat? The Potential Downside of Tax Reform for Investors”

life insurance, protection

How will your family survive?

 

My son was born when I was 30 years old. Honestly, I didn’t get life insurance until I was 36. I had never been taught the importance of using Life Insurance to manage risk and protect your family. Recent studies show that I’m not alone. There is a huge gap in the level of financial literacy in the United States.

 

According to a recent study by LIMRA;

  • Among households with children under 18, 4 in 10 say they would suffer immediate financial trouble if a primary wage earner died today.
  • Another 3 in 10 would have trouble keeping up with basic living expenses after several months.
  • Overall, 7 in 10 of all households said they would have trouble covering everyday living expenses after several months if the primary wage earner died.

 

To be clear 37 million households have no life insurance… none…

Continue reading “How will your family survive?”

disability, economy, life insurance, protection

Deaths of Despair

 

In March of 2017 a landmark study was released connecting financial security and death rates in the United States. The information is sobering and should be the focus of policy changes at all levels of government.

 

A recent study by Princeton Professors Anne Case and Angus Deaton titled, “Mortality and morbidity in the 21st century,” shows the connection between the rising mortality rates of the middle class in the US and “a measurable deterioration in economic and social wellbeing”.

G

This deterioration has not suddenly developed. Rather, “Case and Deaton document an accumulation of pain, distress, and social dysfunction in the lives of working class whites that took hold as the blue-collar economic heyday of the early 1970s ended, and continued through the 2008 financial crisis and the subsequent slow recovery.”

Continue reading “Deaths of Despair”

charitable giving, life insurance, protection

Creating Social Impact Through Giving

 

Every day millions are helped to improve their lives due to the generosity of others. As a community we each have a stake in the success of every individual, every family. Many organizations that make massive positive contributions are struggling due to cutbacks in government supports.

We as stakeholders in American society have a responsibility to give back and help those less fortunate. A recent example of this ethos:

“The $219 million gift from the A. James & Alice B. Clark Foundation, announced Wednesday, shatters the previous record for a single donation to U-Md. — $31 million — set three years ago. It is also among the most significant gifts to any public university in the country, coming at a time when many schools have ramped up fundraising to offset declines in state support.”

Continue reading “Creating Social Impact Through Giving”

disability, economy, life insurance, protection

A few life lessons…

In the past few months I have seen several friends pass away…

I have seen several people in my circle struggle with illness, addiction and disability…

All are under the age of 50. None of them planned on what happened to them.

 

None of them planned on the impact it would have on those around them.
Life is not a straight line.
We all are forced to deal with situations that are beyond our control.

 

Sometimes we are forced to deal with abusive and alcoholic parents when we are young.
Sometimes we are traumatized by sexual or physical violence.
Sometimes we are injured by an accident, or illness.

Continue reading “A few life lessons…”

economy, new economy, retirement

“Morning in America…”

I was driving into work today and a Chevy Volt sped by me. Yesterday a Fisker Karma was parked in front of my office. Last month Tesla started mass production of the Model3.

Technology is bringing a renaissance to American manufacturing. New industries and new job descriptions are being created, even as “old economy” jobs become antiquated and outsourced to robots.

Continue reading ““Morning in America…””

economy, new economy, retirement

Management Flaws in Corporate America

The most recent rounds of corporate earnings reports for retail companies has by and large been very disappointing. Many companies are struggling to survive in an environment dominated by a few large ecommerce companies.

 

Disappointing earnings have resulted in lowered outlooks and fallen stock prices of many retail companies.

 

I recently had the opportunity to talk to several people who work in corporate America, particularly retail. What I learned is scary.

Continue reading “Management Flaws in Corporate America”

disability, life insurance, protection, retirement

Can Your Financial Plan Last to Age 149?

A recent article out of South Africa cites Betje de Vroome as the oldest living human being. She was born Sept. 24th, 1866… The world has literally changed before her very eyes. *

 

Think about how family members are now living longer. While people used to live into their 70’s, people regularly live now into their 90’s. At the church I attend we have a woman who turned 100 over the summer. With medical advancements more and more people are expected to live to 150 years of age.

Continue reading “Can Your Financial Plan Last to Age 149?”

Climate change, economy, retirement

How to guarantee retirement

 

I recently read a post on LinkedIn which sounded the alarm bells that the “time is running out” for your retirement account.

I found it offensive and in poor taste, playing on the fears of the public at large. Throughout most of 2015 there has been a palatable undercurrent of fear in the market… on the part of investors, on the part of money managers, on the part of economists…

The recent pullback in the market reinforces that fear for some.

Continue reading “How to guarantee retirement”