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[views from the tower] The summer has a reputation for slow, boring stock market action. That may sometimes be the case, but on average the period beginning right about now has historically been very kind to investors. Not only is this week

[views from the tower] I cannot recall a time when even determining if the market is strengthening or weakening was this difficult.

[views from the tower] On average, the weeks from around the 4th of July into August have been some of the best of the year.

[views from the tower] History suggests near-term consolidation, but a positive prognosis for the stock market over the intermediate term.

[view from the tower] Friday was a bad day in the stock market. It stood out even more given the complete lack of downside we've enjoyed over the past couple of months.

[views from the tower] The war in the Straights of Hormuz with Iran continues. According to the liberal media it is a stalemate where the US is losing.

[Views from the tower] After a very aggressive (almost historic) advance in the equity markets stateside, a much-needed digestion has begun. I have been talking about this in the last month or so in my missives...

[views from the tower] The majority of the NASDAQ 100 returns year-to-date has come from four stocks, which is normal. Not abnormal as many prognosticators profess.

[views from the tower] As Thomas Lee has so eloquently stated throughout this year, “This is one of the most hated V-shaped recoveries the equity markets have ever seen.” Turmoil (according to the media) virtually everywhere you turn.

[views from the tower] April came and went, and the war raged on. The month was sort of a blur with tax-day right in the middle of the month and very negative sentiment concerning the conflict and the world stock markets teetering on...

[views from the tower] On April 1rst, Ned Davis Research (NDR) research printed a report on the extreme pessimism on several US Equity market sentiment fronts. Subsequent to this the markets took off.

[Views from the Tower] We went from the end of a civilization to a two-week ceasefire, to a huge risk rally, an inflation jump, to failed peace talks, to a blockade and oil back over $100 and an Orban defeat.

Last week I made mention that after the first 12 weeks of 2026 had passed that only 3 of these weeks were positive for the US stock market. [views from the tower]

In the first 12 weeks of 2026, the equity markets as measured by the S&P 500 were only up 3 of those weeks. Is this a function of the war? Is it a function of the polarization in the political aisles? [views from the tower]

The past is the best roadmap we have for navigating what is in front of us. No situation is ever truly identical to the ones that preceded it. [views from the tower]

As you go through life, planning for life's unpredictability is essential. If your family has children or adults with special needs, estate planning for their future care becomes vital.

It was another poor week for stocks, as the Iran conflict rages on and oil prices refuse to fall. The market has reached a "make or break" moment where it's either going to stage a bounce this week...[views from the tower]

Weekly I try and put together a set of salient facts that I feel are important to be considering so as to be as confident as possible that a portfolio is properly allocated for the purposes of the investor. [views from the tower]

In today’s note, I want to give a bit more color to the war effort and what effect it seems to be having and then go into more detail on AI. [views from the tower]

In the wake of the U.S. and Israeli bombing of Iran, investors understandably wanted to know the immediate ramifications. So, I decided to take a step back to look at potential broader implications for the U.S. stock market.[views from the]

Mike Tyson said it best here. It seems like the entire world is caught up in media and internet entertainment and trying to apply it to their personal situations. This weekend it was Iran. [views from the tower]

[views from the tower] Mike Tyson said it best here. It seems like the entire world is caught up in media and internet entertainment and trying to apply it to their personal situations. This weekend it was Iran.

[views from the tower] It remains a challenge to get a handle on the economy. Perhaps we need to look no further than that to explain why the S&P 500 has gone nowhere since late October.

Valentine’s Day is behind us, and it is clear (in the stock market) who got the chocolates and who got no love. [views from the tower]

Your time is important. For some people, time is as important as money. While most people are concerned about spending their money wisely, few consider spending their time wisely.

The stock market faced – and passed – another key support test last week. Even though Friday was an aggressive up day, the week still closed down for the week. [views from the tower]

Investors might feel like they are continuously being pummeled by the new this year. But the S&P 500 reached a new high on last Tuesday. [views from the tower]

[views from the tower] This year has started out quite interestingly. To begin with, we got the nice “first week of January” indicator, which I shared.

What if you focused on your system instead of just your goals? Setting goals for a new year can feel overwhelming. We all know that resolutions don’t last, but we also feel the energy that comes with a new year of possibilities.

[view from the tower] As we already are about to turn the page on January, and commentary out of the GOP continues at a fever pitch, actions seem to be more emotionally based than economically based as Alan Greenspan so eloquently said...

[views from the tower] It has not been unusual for the stock market to get off to a good start to the year.

Financial wellness is a state of being when one is in control of their finances, can cover expenses, and save for future goals. Consider financial wellness as your relationship with money; it can be either healthy or unhealthy.

[views from the tower] While I am not a geopolitical analyst, I will add just a few comments on the somewhat surprising news over the weekend that the United States had invaded Venezuela and captured President Nicolás Maduro.

[views from the tower] As 2025 comes to a close, I reflect on what is in place that could provide a positive backdrop for 2026.

[views from the tower] Pick your issue as to the cards we are currently holding; mass liquidity, a couple of wars, President Trump, Immigration, Tariffs, falling interest rates.

[views from the tower] Bad is good. Post FOMC meeting last week, equity markets in the US and abroad have bounced to new highs despite fears of an AI bubble, more signs of weakness in the labor market, and a Supreme Court battle over tariff

[views from the tower] The market performance over the rest of the year could be a preview of what to expect next year.

[views from the tower] The action over the past week has been extremely difficult to navigate, with a sharp reversal lower now completely retraced in the S&P 500.

What is a special needs trust? If you have a child or other loved one with special needs you may want to establish a special needs trust.

[views from the tower] I have been writing over the last few weeks that this market could be a bit difficult in November and that it appeared that there could be some negative moves, sometimes violent before the normal end of year rally.

[views from the tower] As I compile the information for the newsletter this week I felt it important to give you some color on what I am seeing.

[views from the tower] As I mentioned last week, third quarter earnings season picked up where Q2 left off, with a historically high beat rate and minimal downward revisions for the rest of calendar year 2025.

[views from the tower] The news of the markets last week was the earnings of the monster tech companies, and the interest rate cut by the U.S. Fed.

[views from the tower] I normally center my newsletters on data I gather from statistics based on historical market actions, earnings of companies, and general economic activity.

[views from the tower] Last week I titled the report the “Human Condition.” I really meant this to confirm that we are all becoming increasingly short-sighted in our observation of things.

[views from the tower] President Trump won the election in November of 2024. He told the world some of the things he wanted to do, many of them so far out from what we were used to that few believed that he would do them much less that...

[views from the tower] “How is the market still going up?” At this point I am asked some version of the same question every day: how is the stock market still going up?

[views from the tower] With the month and quarter ending Tuesday, the stock market has obviously withstood the "September Scaries" that I have been focusing on coming into the month.

[views from the tower] Aside from numerous anomalies that are clearly in existence in the first year of this Presidential administration, one item that currently sits front and center is interest rates, labor, and the Fed.

[views from the tower] There was a private dinner a week ago in New York City, hosted by the Wall Street Journal. Many past administration people and foreign dignitaries attended.

A trust is a legal entity that you can set up and use to hold property for the benefit of one or more individuals (the trust beneficiaries).

The IRS recently released the 2025 contribution limits for health savings accounts (HSAs), as well as the 2025 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs).

Saving for retirement is about more than growing your nest egg: It’s also about gaining an edge when it’s time to take your money out. And that’s where the Roth IRA shines.

More than 100 million American adults currently care for a parent or other elderly relative in their home.1These arrangements are often more by necessity than choice, as paying for outside caregivers or a long-term care facility can cost...

As we round the corner on the 2024 election hype, it is clear that the American public is on edge due to media coverage. [views from the tower]

Many are interested in the impact of future tax legislation on Trusts. As we look ahead to 2025, it is crucial to understand how the evolving tax landscape may impact the administration, structuring, and distribution of Trusts.

Last week was the first full week of the landslide victory for the 2024 election. As was the case in the 2020 election, the stock market rallied going into the election and then for the first week coming out of the election. [views from the

Last week was the election. The media had hyped it up as such an incredibly destructive event that when the results came in without the expected gridlock the hysteria abated like a morning fog. [views from the tower]

It is November 6th, the day after "Election Day." I say " Election Day " as there is sure to be much consternation and negative banter going on by whichever party seems to be the loser. [views from the tower]

We are rounding the corner into Halloween and closing in on the Presidential election. [views from the tower]

With only 30, or 6%, of the S&P 500 firms having reported earnings through Friday, they are off to a pretty good start. Some information technology firms had a strong start while some of the big banks had mixed results. [views from the towe

A “backdoor” Roth IRA is not a special type of Roth IRA but is instead a special way to FUND a Roth IRA that allows high-income earners the ability to get tax-free growth instead of tax-deferred growth. It takes a traditional IRA...

Saving for retirement is about more than growing your nest egg: It’s also about gaining an edge when it’s time to take your money out. And that’s where the Roth IRA shines.

The S&P 500 and QQQ look to be trying to stabilize and rally after a very sharp two-week decline into this week. Trends in the DJIA look far better in the short run than SPX and QQQ which remain within two-week...[views from the tower]

Just because your military service is up doesn’t mean your benefits disappear. You spent many years of your life serving and protecting your country.

After working hard and providing for your family for all of these years, you are likely counting down the days until retirement and beginning, as The Beach Boys once said, that “endless summer.”

For the last couple of weeks, I've been addressing the primary concerns that the market prognosticators have been focusing on; Inflation, lack of growth / Recession, and the most often discussed - narrowing breadth. [views from the tower]

Historically, working mothers have had even higher ambitions in the workforce than working women in general.1 This ambition may drive them to excel in budgeting and financial matters that can help them manage their family's finances.

Although many teens are loath to admit it, they rely heavily on advice from trusted adults in their lives—especially their parents. As these teens begin moving out and heading to college, it becomes even more important to set them on...

Freedom is not won by sitting idly and hoping for a miracle. Financial freedom requires vision, courage, and sacrifice for a higher goal. The Financial Independence, Retire Early (FIRE) movement is a part of that vision.

Many parents want to provide their children with the best possible help and care, even when they transition into college. However, as the children come of age, there is much more to consider than tuition fees and dorm essentials.

Saving money is a fundamental aspect of personal finance that can significantly impact your financial security and future goals. However, determining the ideal amount to put away isn’t a one-size-fits-all equation.

As of last Thursday, the S&P 500 and the NASDAQ 100 (QQQ) were back to new all-time highs. They got there quickly as the US Treasury interest rates began an aggressive decline. [views from the tower]

As summer begins in earnest, the slowdown in the markets begins as well. Summer tends to be a little sleepier for the markets, unless of course, there are as many events going on as there are this year. [views from the tower]

As a homeowner, you should be aware of the income tax consequences of selling your home--knowing the rules can help you minimize any negative tax consequences.

529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. Among other things, this means becoming familiar with the finer points of contributions and withdrawal

Last week was an interesting week. Major market indexes continued to grind and chop higher last week before running into a pothole on Thursday as the NASDAQ Composite reversed badly on heavy volume ...[views from the tower]

The S&P 500 closed out another strong week last week, with gains of +1.4% in the week alone, taking the total gains for May to close to 6%. [views from the tower]

The U.S. Department of Education recently announced significant changes to the interest rates on federal student loans for the 2024-2025 academic year.

Wealth and estate planning are vital for all individuals but are particularly essential for high-net-worth (HNW) individuals in the sandwich generation.

When I read the weekend press, I pay attention to several things. Is there turmoil to talk about? Are there earnings to talk about? [views from the tower]

Last week was a virtual tug-o-war. There were economic indicators that talked about the growth of the economy, and inflation numbers that spoke to what would be the expected action of the Federal Reserve. [views from the tower]

As a young person, you imagine you have all the time in the world to save for retirement. You live in the present with the future a mere blip out on the horizon.

Throughout the years, the market has experienced regular periods of volatility. Periodically, the Federal Open Market Committee (FOMCC) reviews its monetary policy, which creates both worry and anticipation among consumers and businesses.

Taxpayers of all ages may be able to claim a deduction on their 2023 tax return for contributions made to their Individual Retirement Account made through April 15, 2024.

Retirement is often envisioned as a time of relaxation and freedom, a period to enjoy the fruits of years of hard work. However, living a truly "rich" life during these years involves more than just financial security.

If you have a 401(k) plan at work and need some cash, you might be tempted to borrow or withdraw money from it. But keep in mind that the purpose of a 401(k) is to save for retirement.

If you're like a lot of people, retirement won't be the world of gardening, golfing, traveling, and tennis you once envisioned. Rather, retirement will mean relaxing and working.

Planning for early retirement is great, but planning for healthcare coverage at the same time can sometimes be more difficult.

Most American workers who earn wage income and pay Social Security taxes via withholding receive Social Security benefits at some point in retirement.

It's nice to own stocks, bonds, and other investments. Nice, that is, until it's time to fill out your federal income tax return. At that point, you may be left scratching your head.

Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals.

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement.

Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024.

Tax planning might be complex, but it's also essential—especially for high-net-worth families, where missing tax breaks or failing to optimize income could cost significant dollars, maybe millions, over a lifetime.

A holiday season guide to help protect your financial information from hackers

[views from the tower]Overall, despite my 2023 expectations for the S&P 500 and other component parts of the US equity markets have clearly been met. So much so that even though I have been positive on the markets, I am a little hesitant...

[views from the tower]I’m not a big baseball fan, but I had to take a pause when I saw that Otani was signing a contract for $700 million over a 10-year period. I mean, what does the team have to charge for a seat, a hotdog, and a beer...

[views from the tower]If one were to look at the S&P 500 from January 1 of this year till last Friday, the returns have been quite impressive. Given that the annual return since 1900 on the S&P is a little over 10% per year, the 18%...

[views from the tower] Last week, the equity markets weren't the Thanksgiving turkey, instead they were a bit of Thanksgiving champagne, as is the norm for the week of Thanksgiving. As I have been saying throughout November...

s a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan.

[views from the tower] 2023 has been quite a ride. The S&P 500 checked off many boxes early on and held true to probability expectations afterwards. The first 5-day rule. The first month rule. The "January Effect" rule, and so on.

November brings us Thanksgiving – a day for simply giving thanks. The 11th month also brings us Black Friday and Cyber Monday – two days encouraging us to shop.

[views from the tower]2022 put the Wall Street cliche' "It's always a bull market somewhere" to the test for sure. For the first time on record both stocks and bonds fell. In 2023 the decline in bond market prices has continued for...

Tax planning preparations include small-business owners taking necessary measures to optimize their taxes by taking advantage of deductions and benefits.

[views from the tower]To say that this has been an exceedingly strange year would be a gross understatement. Throughout 2023 I have highlighted unusual market developments.

Your net worth is your personal bottom line. It's what your total holdings are worth after subtracting all of your financial obligations. In financial terms, your net worth is equal to your total assets minus your total liabilities.

[views from the tower]For the last couple of months, as the equity and bond markets have been taking it on the chin, I have consistently mentioned the seasonal expectations while at the same time trying to scream my message over the...

Asset allocation is the process of deciding how to divide your investment dollars across several asset categories.

[views from the tower] Unfortunately, equities are still caught in a buyer's strike. That is, investors are sidelined as the uncertainties abound and cumulatively are preventing investors from adding growth / risk to their portfolios.

Risk management is a key component in any successful business plan. In today's world — where data breaches are common occurrences — it's especially important for business owners to understand the digital risks they face.

[views from the tower] As I reflect on the past week's activity, top of mind is the widening Israel-Gaza conflict. In my view, this tragedy touches every investor personally. For many, this is because of personal knowledge of someone...

[views from the tower]The question I keep asking is, "What can happen next?" We go from a US Government shutdown (see special report two Fridays ago), to the ousting of the Speaker of the House, and now the outright attack on Israel by...

[views from the tower]Benchmark 10-year Treasury yields surged from a 20-year low near 5.2% in late 1993 to above 8% a year later in what was called the Great Bond Massacre. History rhymes, but it is unlikely to repeat.

[views from the tower] Thus far, 2023 has been characterized by skepticism of the economy and markets and yet equities have risen. The best entry points have been when market skepticism has been the highest, á la March 2023 or even Oct 2022

[views from the tower]In the present political climate, the government shutdown will be happening given the divisions that exist between factions in the House of Representatives, not to mention the divide between Senate Democrats and Rep...

[views from the tower]Here we are in the last week of September. By many measures, the decline that has been experienced since the 2023 high on July 27th at 4607 now seemed to have exhausted the overbought nature of the markets for the...

Government employees, such as teachers, firefighters, police, and others, often consider working after their eligible retirement age when presented with a DROPs offer.

[views from the tower]True to form, September remains difficult. There have been no negative surprises, yet interest rates have remained frustratingly sticky, and every slice of our economy is dealing with gasoline prices at new highs.

Retirement seems like a long way off, but it arrives faster than you think. The big question is, are you ready? What exactly does retirement entail?

[views from the tower]We are about two weeks into September, and all eyes are still focused on the Fed and various measures of inflation. A month ago, many people were pretty sure serious inflation concerns had passed.

Thanks to the Affordable Care Act, your college student can remain on your health insurance plan until age 26.

[views from the tower]August was a tough month as I have been saying. Markets closed down 2%, not a change in direction, but I don’t like declines no matter what. Up until August 22nd, the S&P 500 was acting like it was going to take...

[views from the tower]August continues to be a trying month. I say this to sort of put a bow around the first negative month we have experienced so far this year. Before discussing September, it’s right to look back at August.

Whether you are an employee in corporate America or a small business owner, retirement is a part of life.

[views from the tower]A week and a half ago I wrote a special report on debt. The reason was twofold. First, the amount of debt on the balance sheet of the U.S. Government is worrisome and continues to lurk in my mind as an ominous...

There's no denying that dating can be an expensive endeavor. However, in a high-inflation environment, the financial pressure of courtship is even more palpable.

[views from the tower]August is clearly a difficult month, true to form for 2023. As many often look for a reason, I thought that I would take some time and go over those points that I felt seemed to be most important.

[views from the tower]In 1990 there was a song written by Salt-N-Pepa called, “Let’s Talk About Sex.” The song has a very catchy jingle, but I think today we could substitute Debt for the other term, as today we are at a very precarious...

Internal audits play a crucial role in the proper functioning and success of a business. They are an essential component of a company's risk management process and provide management with valuable insights.

[views from the tower]August started with a bang, but not the bang that makes investors happy. True to form, the first week of August followed the previous Thursday’s negative reversal

Sustainable investing is on the rise, accounting for about $1 in every $3 in actively managed assets.1

[views from the tower]Before I go into detail on August, I wanted to take a minute and talk about what has investors, both individual and institutional, on edge. If we take a step back and look at the last major correction period, it was...

In response to mounting public concerns about global warming and other forms of environmental damage, many companies are launching initiatives to “green” their products, services, and operations.

[views from the tower]We are in the final week of July. In the final week, not a lot of economic reports to be particularly concerned about, but a very important Fed meeting just after you get this report (Wednesday, July 26th at approx. 11

In late May 2023, Congress sent a letter to U.S. Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel saying that it will introduce legislation to correct several technical errors in the SECURE 2.0 Act.

[views from the tower]The first two weeks of July have come and gone. With them the massive fear of recession/inflation / Russia/China has seemed to abate. As a result, this has provided breathing room for both the stock and bond markets...

A typical college degree is worth a ton of money over a career. A typical degree – but not every college. College costs rose roughly 7% annually over the past 50 years, about double the average yearly inflation rate.

[views from the tower]The June jobs report was released Friday, and, overall, it paints a softer picture of the jobs market compared to the “hot” ADP June jobs report released the day before (7/6).

As the cost of a college education continues to climb, many grandparents are stepping in to help.

[views from the tower]Gains of 10-15% more are likely in 2H 2023 for US Equities - Recent broadening out in market breadth has not yet been followed by an equal broadening out in bullish sentiment. Bull markets are not linear.

Regardless of size, companies can benefit when the community in which they do business thrives.

[views from the tower]It's official, we are now halfway through 2023 here we are with the S&P 500 up around 12%. Who'd thunk? I mean with 10 rate hikes back-to-back, the Russian war, Chinese tensions, and rampant inflation- just to name...

Is owning a boat on your horizon? Do you see yourself paddling a canoe? Piloting a motorboat? Helming a sailboat?

[views from the tower]In the last three weeks, I have brought focus to the current state of the equity markets and how inflation is the focus of the Fed.

[views from the tower]What a couple of months. The action in the markets has really been quite historic with extremes being hit in many directions and extremes being pinned on many measures.

Maybe you've decided that graduate school is the path to advancement in your current job or your ticket to a better career.

[views from the tower]The backdrop for the equity markets is continuing to be a quite good one. In last week's report, I tried to touch on a point that I am going to expound on a little bit more before I get started this time.

It is estimated that about 40 percent of business founders were friends before they became business partners.

[views from the tower]Today’s market concerns involve the S&P’s ongoing struggle to rally through 4,200 resistance.

[views from the tower]There are very few legislative processes that demand the American public's attention to the degree that the Debt Ceiling has this year.

Minted released a study that said that the average wedding takes an unbelievable 528 hours to plan – that’s 22 full days or 66 eight-hour workdays.

[views from the tower]The S&P 500 ended a tough week, last week, down 1%. Markets don’t like unknowns, and therefore can never properly discount the binary outcome of a debt ceiling/default.

[views from the tower] If you have been to a high school or college commencement lately, then you know the drill: at some point, at least one speaker will urge the graduates to be instrumental in bettering society.

With several past and present events involving the White House, data breaches, or classified documents being leaked, the importance of safeguarding confidential information often comes into sharp focus.

[views from the tower]In this week’s note, I am going to pretty much take you from soup to nuts on what has gone on, what is going on, and where it “appears” we could / should be going.

An important ingredient to a successful business is adequate financing (capital).

[views from the tower]Yes, we have banking problems. No, this is not 2008. It's much more like the 1970s S&L problems. In other words, we do not have credit problems today, we have duration (maturity length in portfolios of the banks)...

Well it was the end of August and some friends convinced me to go on a float trip. I’m not sure if they invited me because they knew I’ve never been floating or if they wanted to see if I would show up in a collared golf shirt (I did, don’t

[views from the tower]We have so many issues to mention that are negative I don’t intend to bore you with a full explanation of each, but just so we can reference them, the more important ...

[views from the tower]The economy seems to be humming along OK. Not too hot and not too cold. The raising of rates by the Fed has been very abrupt and due to the pain it has created within the financial system it is what all remember.

The thought of retiring may be intimidating for anyone—but if you own your own business, handing your "baby" to new owners might be enough to stop you in your tracks.

[views from the tower]Despite the mild pullback on Thursday of last week, last week once again managed to put in a positive return.

Retirement is an exciting time, but it can be tough to leave behind the safety net of a stable income or the work routine you’ve followed for decades.

Getting laid off can be a very difficult and emotional experience, especially if you have been with the company for a long time.

[views from the tower]This week marks the first week of earnings reports for Q1 of this year. These are clearly important numbers as they are a reflection of the economic prosperity of companies individually.

Listening to John Coltrane or other favorite jazz musicians is like watching the leaves swirling through the city streets on an autumn day.

[views from the tower]At the start of 2023, the street consensus was bearish on equities; both institutional investors and the man/woman on the street were not excited about the year to come.

Choosing a financial professional is a major decision. Finding someone you trust enough to manage your money and your future may feel like a nerve-wracking choice.

[views from the tower]In only two weeks, the stresses to the markets have gone from inflation and the possibility of recession due to higher interest rates to an utter banking crisis.

Everyone needs to have some level of financial literacy to help manage their finances. However, financial literacy becomes even more crucial when you're a business owner.

[views from the tower]Given the gravity of the situation in our global banking system, I am going to expound a little bit more on Friday’s note.

When you own a business and have employees, becoming disabled impacts you and your family and your employees and business.

[views from the tower] Vacations are an interesting thing when managing assets in a dynamic market. I planned to go away for a few months before going to Spain.

[views from the tower]To follow our short calendar for the year 2023 so far, the S&P 500 ended February down ~2% and the weakness has given fuel to the media to espouse that many investors have returned to full “bear” mode.

The SECURE Act 2.0 was signed into law on December 29, 2022, which will work to close the retirement savings gap with over 90 new retirement provisions.

[views from the tower]We are at the end of the second month of the new year. A year that has started far differently than 2022.

Some older workers return to the workforce or continue to work well past retirement age. Workers over 50 may change jobs while working in the same occupation or field later in life to continue their careers for longer.

[views from the tower]The last two weeks have not been a continuation of the New Year celebration that has been experienced in the first six weeks of 2023.

Pension plans are still offered at many types of employers today. A pension plan is an employer-sponsored retirement savings plan the employer contributes toward to fund their employees' future retirement.

[views from the tower]Investors should be feeling pretty good at this point. In California, the rain storms seem to have passed (for now at least), Super Bowl LVII was filled with drama and decided by a last-second field goal, and bonds...

The Setting Every Community Up for Retirement Enhancement Act of 2019 – the SECURE Act – was passed by Congress and signed into law on the days leading up to Christmas 2019.

[views from the tower]If you pay any attention to Federal Reserve Chairman Jerome Powell’s comments you’ll know that his primary measurement of progress against inflation is by looking at the domestic labor market and the cost thereof.

A qualified domestic trust (QDOT) allows a U.S. citizen spouse to transfer assets to a noncitizen spouse without having to pay federal gift and estate tax at the time of the transfer.

[views from the tower]I have been able to understand how negative the equity markets of the world can be by listening to CNBC in the mornings, at about 5:15 west coast time.

With the new year right around the corner, you may be wondering what’s in store for the economy in 2023. To help ensure your financial success, here are some insights into the recent impacts of inflation.

[views from the tower]This year has started quite well. In the first week and a half, the equity market was going up in an organized and methodical fashion.

Stock markets in the U.S. and around the globe turned in a rotten 2022, with fears of inflation, rising rates, and supply chain issues swirling around the economy and markets all year.

Economists have shaped the modern world in many ways. Governments make policy choices in response to the data that we produce about things like GDP and inflation.

[views from the tower]With the first two weeks of trading for 2023 in the books, and deep scares from 2022 deeply engrained in memory, we are welcoming how this year is starting.

Women are more vulnerable to financial insecurity because they typically live longer, have more breaks in their employment and earn less.

[views from the tower]There is an age-old saying that I have often quoted in my weekly missives, “Don’t fight the Fed.” This still seems to be holding. They have both the rule book and the printing press.

I made after-tax contributions to my 401(k). When I retire, can I roll that money into a Roth IRA tax-free?

[views from the tower]The end of a calendar year should have little influence on the directional move of markets, yet tax considerations and general emotional motivations often exaggerate moves at the turn of the year.

Generally, businesses pass through three stages before reaching the final stage of decline. The time it takes to reach or to pass through each stage varies by business.

[views from the tower]The stock markets of the world are struggling into the close of 2022, capping what has proven to be a horrible year for equities. In our view, US core inflation has apexed (mid-2022) and now running at closer to 2%.

When a spouse dies, the emotional magnitude of the loss can send your life reeling. It can also affect your finances. You are pressured to do many things all at once.

[views from the tower]As we come to the end of 2022, the US equity market (as measured by the S&P 500) appears locked in a range of 3800-4100.

As the calendar gets ready to turn to 2023, there are a lot of economic metrics worth paying attention to, especially as each will have an impact one way or another on our investments.

The 2022 FIFA World Cup kicked off on November 20th when host-country Qatar lost to Ecuador 2-0, becoming the first host country in the competition’s 92-year history to lose its opening game.

Broadly speaking, a gift occurs when you transfer something (e.g., your business interests) to another party without receiving something of at least equal value in return.

[views from the tower]Predicting market values in 2023 is tougher than normal. To give a brief recap; COVID declines led to a substantial bounce in the markets following the March 2020 low...

Any small-business owner could attest that everyone needs a break sometimes. And the holiday season may provide an opportunity to take a few days (or longer) for yourself

[views from the tower]Investors are incredibly inventive in their thoughts and solutions, which is why all crisis situations get dealt with. When all seems lost, the market finds a low and starts higher once again.

Consider opportunities to defer income to 2023, particularly if you think you may be in a lower tax bracket then.

[views from the tower]This week is very interesting as it follows a Holiday week with extremely low volume yet a lot of information. The data from last week seems to be setting the stage for year-end.

Hurricane Ian barreled ashore with winds of up to 150 mph (240 kph) on Florida’s southwest coast on Sept. 28, 2022.

[views from the tower]It doesn't seem to feel like it has not even been two years, but there’s no uncertainty for me in believing that locking down the economy to “slow the spread” of coronavirus was a massive mistake.

There may be personal (nontax) reasons why you would want to gift some or all of your business interests.

[views from the tower]We knew that last week would be quite a week with the Election on Wednesday and CPI released on Thursday. Not to be outdone, we also had the crypto disaster of FTX going on at the same time.

The holiday season means shopping is at its peak, and while many consumers are familiar with Black Friday and Cyber Monday, they may be less familiar with Green Monday.

As I write this note on Mondays, Election Day is Tuesday and will bring results for key Senate, House, and Governors races from around the country, plus local legislative races and more.[views from the tower]

Shoppers spend nearly $20 billion every year on Small Business Saturday.1 If you’re not familiar with this particular holiday, it takes place in the U.S. the day after Black Friday in November, and a few days before Cyber Monday.

[views from the tower]With a surprising level of consistency over the past 100 years or so, stocks have followed a broad pattern that coincides with presidential terms.

The term HENRY (High Earners Not Rich Yet) refers to individuals who have the potential to become wealthy in the future because of their income.

[views from the tower]In following the markets, it is important to monitor the overall economic backdrop, the direction of interest rates, and the US Dollar.

[views from the tower]Before Monday and Tuesday of this week, we have had six times where the markets tried to rally only to reverse and decline once again.

[views from the tower]Looking back to the start of October, Monday, and Tuesday of last week were clearly different from what we experienced in the month of September.

[views from the tower]“Unpredictable price movements are part of long-term investing, which is distinct from the concept of risk.” I meant that when I wrote it in September, and the actions of late cannot be any clearer evidence of this.

[views from the tower]To say that 2022 has been a tough year would be a gross understatement. From remnants of COVID mandates to delayed air travel to spiking interest rates, this has been a year of numerous and never-before-seen...

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend.

[views from the tower]At present we are clearly in a battle. On one hand, we have the Federal Reserve trying to rein in inflation by raising interest rates and on the other side, we have the economy as measured by the GDP and the stock...

Health care in retirement is available from many sources. Government programs (such as Medicaid and Medicare) offer numerous health care benefits.

[views from the tower]Friday's market was the third day in a row that the equity market, as evidenced by the S&P 500, moved higher.

Understanding your style of investing is an important step in deciding where to allocate your portfolio – but trying to predict which style will outperform relative to the other is as challenging now as it has ever been.

[views from the tower]I don’t know about you, but the long 3-day weekend surrounding Labor Day makes me stop and enjoy that last bit of Summer.

The Inflation Reduction Act, signed into law on August 16, 2022, includes health-care and energy-related provisions, a new corporate alternative minimum tax, and an excise tax on certain corporate stock buybacks.

[views from the tower]In last week's note, I gave numerous charts and tables explaining why I believe that the market decline had run its course from January 4 through June 16th of this year.

[views from the tower]In past reports, I discussed the personality of mid-term election years coupled with the consequences of the Fed raising interest rates. From January 4th to June 16th, the S&P 500 incurred a 26% decline.

Suppose you have read or watched a story about converting an IRA to a Roth IRA after age 60. In that case, you may have seen this strategy portrayed negatively or only highlighting the benefits.

Baby boomers’ huge numbers and surprisingly shaky health threaten government old-age benefits. That’s why you might need to bolster your own retirement finances more than ever.

[views from the tower]The rally seen in the equity markets post-CPI and post-PPI has been largely met with skepticism. This is essentially true of the gains seen over the past week and past month.

Being an educator requires expertise and that you stay current on developments in your field. However, that level of ongoing attention can make it difficult to find the time to stay on top of issues that affect your finances.

[views of the tower] Friday the Labor Department released numbers for July. The number came in at 528,000 jobs created versus the expected 258,000.

[views of the tower]The markets and the economy are based on simple principles of economics and forward progression of earnings to create proper (perceived) valuations for companies today and into the future.

Are you covered by insurance if your dog bites a neighbor? How about if your tree falls on a neighbor's fence? And what if you're sued when someone slips and falls on your front walk?

Many parents are committed to sending their children to private elementary or secondary school. Yet paying private school tuition can present a compelling cash flow problem.

[views from the tower]Today, the frictional buzz is now all about inflation and recession. It feels quite strange that the Fed would be raising interest rates as the economy is supposedly racing into the jaws of a recession.

When it comes to health and wellness, many people are stuck in the short term. There are so many fad diets, exercise crazes, and quick-fix supplements out there that it can be difficult to cut through the noise.

[views from the tower]Last week looked like it was going to be another disaster of a week until it turned on a dime Thursday and was up strong on Friday.

The cyclist can win with a few strategic moves and by avoiding crashes. To reach your financial goals, you don’t have to outperform every benchmark every year.

[views from the tower]The big news that came out since the last note I wrote was the employment number that was released last Friday. On the surface, it looked strong.

If the value of your stocks, bonds, or other capital investments has increased substantially, there are a few steps you can take to minimize taxation.

[views from the tower]In the June Federal Reserve meeting (when it raised interest rates by 75 basis points, or 0.75%), it issued an updated economic forecast based on incoming economic data.

Wildfires are incredibly destructive, fast-spreading, and tough to contain. Worst of all, a fire may come as a complete surprise to those impacted.

[views from the tower]Over the past few weeks, the economic indicators have been showing that the fear of inflation seems to be easing. As all financial news followers should know, the Fed’s primary mandate is to sustain an orderly economy.

To reach your financial goals, you don’t have to outperform every benchmark every year. For long-term investors, avoiding and mitigating losses is a key factor in achieving ultimate success in your portfolio.

[views from the tower] It is clear that we are in a market correction. During corrections, the markets tend to exhibit similar characteristics that we assume will exhaust themselves, and usually, they do.

No matter how careful you are in running your business, accidents happen. And no matter how big or small your business, you'll have to plan for these and other risks if you want your business to thrive.

[views from the tower]In the 1980s, "goods" inflation peaked when the Fed, under Volcker, broke the back of inflation. Today, as opposed to back then, we can see virtually everything in an instant to evaluate the actions of the Fed.

Vacation homes require a special type of insurance--one that protects your vacation home but doesn't overlap with your already existing homeowners insurance coverage.

[views from the tower]Last Friday, JP Morgan CEO, Jamie Dimon made one of the most irresponsible public displays I've seen in some time. He talked about a "hurricane" hitting the US economy.

On bright and sunny summer days, the allure of the water can be irresistible. If you live near a lake, river, or ocean, boating trips may be the perfect getaway when warm weather hits.

[views from the tower]To begin, I hope that everyone had a good Memorial Day weekend. I certainly did after the week we just experienced. After seven down weeks back-to-back, the markets finally had a positive one!

Even before the financial challenges so many people have faced due to the ongoing COVID-19 pandemic, an estimated one in five Americans had no retirement savings.1

[views from the tower]Last Friday I put out a special report titled, "Market at a Crossroad." To my analysis and the various market measurements that I have been presenting the last few weeks, it was sort of looking very extended to the...

If you are newly married with no children, you may have a special opportunity to build your savings and investments. Financially, a married couple can be more than the sum of its parts.

[views from the tower]In the spotlight today: economic expectations due to domestic retailer weakness, sentiment, and valuations

[views from the tower]In this week’s letter, I believe that we have enough meat on the bone to address a few of the different issues that have been plaguing markets and set up a road map for an investor going forward.

Many couples blame their marriage problems on disagreements and an inability to see eye to eye

[views from the tower]This week I really don't have a whole lot to share with you. I really don’t need to restate that we have a market that has a number of different issues raining on its parade.

At their recent March meeting, the Federal Reserve moved its fed funds target rate from near zero to a range of 0.25% to 0.50%. It was the first rate hike since 2018.

[views from the tower]Last Thursday, when the Commerce Department announced that the 2022 first-quarter GDP dropped 1.4%, many market commentators voiced surprise.

If you're paying attention to the news, you've probably come across story after story on the health of Social Security.

Few sporting events hold as much tradition as the Kentucky Derby, which began in 1875.

[views from the tower]Stocks tumbled last week, and bond yields rose as headwinds empowered by many factors tied to monetary policy, inflation, and growth concerns rattled investors.

There are two fundamental ways that you can profit from owning bonds: from the interest that bonds pay, and from any increase in the bond's price.

Even though the Federal Reserve has been keeping its benchmark federal funds rate at historic lows recently, it's important to remember that rising rates can affect you as a consumer and investor.

[views from the tower]Last week, I went into extensive detail on what I am noticing and paying attention to.

Many couples may find themselves confronted with a dilemma as retirement nears. If you plan to receive your pension payout on a monthly basis (rather than in a lump sum), you must decide whether you want to receive a higher payment during y

[views from the tower]It's clear that the buzz of the last few weeks has been college basketball's Sweet Sixteen tournament, and Monday of this week was the last game of the season's Final Four.

As you approach retirement, many important decisions await you. If you have a qualified employer-sponsored retirement plan, whether it is a traditional pension or defined contribution plan, such as a 401(k).

[views from the tower]Domestic growth continues to be strong. Since our economy is very diverse, growth can be categorized in many ways.

According to the Internal Revenue Service (IRS), tax scams tend to increase during tax season and/or times of crisis.1

[views from the tower]In today's newsletter, I am going to cover what I believe to be the important points to cover that should be focused on instead of focusing on the continued death and destruction being espoused by the media.

Too often during uncertain times, we inadvertently compare ourselves to the people around us – and that may lead us to make financial mistakes.

[views from the tower]Vladimir Putin's diabolical invasion of Ukraine has succeeded in turning Russia into a rogue state, and with his nuclear threats, he is playing an insanely dangerous game.

Bear markets happen. Bull markets happen. Just stick to your financial plan, and stay calm and disciplined. When the market sours or slumps, don’t believe talk that this time it is different. It is not.

[views from the tower]There is so much going on right now that I’m not even sure where to begin. By now, anyone plugged into the news and financial markets should have a rough idea of what has been happening

[views from the tower]As humans, we are inherently emotional animals. As such, right, wrong, or indifferent, we want an answer to a problem. Why did it happen? How bad will it get? How do we fix it?

The Russian invasion of Ukraine has drawn condemnation and punitive sanctions from the United States, Europe, and their allies.

[views from the tower]It has been some time since we have had the “darlings” of Wall Street be the “heels” of the market for such an extended period of time.

In the U.S., more people are choosing to remain single and not be partnered. Census data shows that in 2019 the share of American adults who were neither married nor living with a partner had risen to 38 percent.

[views from the tower]As the heat held strong on the Russian invasion of Ukraine, I have to wonder if Putin and China’s Xi bought index puts against the US stock market to benefit from the decline experienced last week?

[views from the tower]One of the most popular questions we’ve received lately is what could happen in the upcoming midterm election?

As of 2018, about 58 million Americans had a 401(k), while around one-third of households owned an individual retirement account (IRA).1, 2

[views from the tower]By any number of measures, the markets have taken quite a hit. For example, as of January 25th, 2022, the average stock in the Russell 2000 Index has experienced a drawdown of almost 40%, and in the NASDAQ Composite.

The average college student graduates with around $30,000 in student loan debt.

[views from the tower]Before I dive into this week’s focus, I want to take a moment and talk about some major policy items that people should be aware of.

Most of us find the notion of creating (and sticking to) a budget about as appealing as spring cleaning chores.

[views from the tower]If I’m being honest – last week was brutal. I know I wasn’t the only one who was looking for a bag of frozen peas to help numb the pain of losing the octagon match against the Market.

Tempted to stash your money in a bank certificate of deposit (CD)? Or maybe under your mattress? Think either one of them will keep pace with inflation? Think again.

[views from the tower]Normally when you think of January you think cold temperatures or winter. But as of late, the markets have been heating us up and not in a good way.

[views from the tower]This week I intend to start things out a little differently. I could go into all of the different things that I think should be paid attention to, but when we start the week (after three really ugly weeks) with the DJI

After the stock market’s fantastic growth in 2021, many believe a pullback (or even a correction) may be a healthy thing. Such a drop is not horribly painful, by historical standards, and smart investors can cushion such a fall.

[views from the tower]This past week certainly wasn't the destroyer that the first week of the year was, but after a promising bounce following the Monday morning punch to new short-term lows on the major indexes

On December 15, 2021, the Federal Open Market Committee (FOMC) of the Federal Reserve System made a significant shift in monetary policy in response to rising inflation.

[views from the tower]Many analysts were disappointed by last Friday's job report for December, but we think the headline masks an overall report that shows continued improvement in the labor market and a possible surge in small-business...

A traditional IRA offers a great way to shield income from taxation while boosting your retirement accounts. Meanwhile, a Roth IRA can let you pay tomorrow's taxes today.

[views from the tower]2021 was the year of a continued virus, rising inflation, and the promise of higher interest rates from the Fed. Not a trifecta of great things, yet the market had its best year out of the last three really good years!

Whether it’s an improvement to your health and well-being, a new career you’d like to pursue, or a bad habit you need to break, resolutions are sometimes easy to conjure up but not as easy to achieve.

[views from the tower]Now that 2021 is about done, the next logical question is where will the S&P 500 be at the end of 2022.

Are you thinking about bailing out of stocks before year-end while the capital gains rate is low? Before you hit the sell button, think it over carefully.

[views from the tower]To me, this current market is starting to feel a lot like it did when COVID first hit in 2020, yet this time we know what happened. In 2020, there were very severe cases that, to many, became lethal.

For some, it’s easy to put personal finances on the back burner during the last few months of the year. However, before the year comes to an end, it’s essential to review your finances.

[views from the tower]If there haven't been enough interruptions already, this week should be the last big week of the year, with five major central banks scheduled to meet and nine more from emerging market countries.

One variable that is hard to plan for in retirement is taxes. There are steps you can take, though, despite the uncertain tax landscape. We don’t even know what the tax rates will be next year, so how can you plan for 20 years...

[views from the tower]At the close on Friday, the NASDAQ Composite Index was down 6.1% and the S&P 500 was down 3.5%, from their recent all-time record highs.

Saving money can be hard. It often feels like your paycheck goes in your bank account and a minute later it’s gone. Between bills and unexpected life moments, it always seems you’re left saying “I’m broke.”

[views from the tower]I know it may sound strange, but I really think that the markets needed a day like Friday. Was it painful? Was it a shock? Was it based on a new variant?

Lamarr Couser and his family were caught by surprise when the funeral director asked whether the World War II veteran was covered by a life insurance policy from the Department of Veterans Affairs.

[views from the tower]Today’s report will be a little different than usual. There once again isn’t much new to say about the short-term setup in the market, so while I will discuss that a little

Whether retirement is around the corner or decades away, there are more options than ever to help you plan for it.

[views from the tower]Sometimes the noise around us takes our focus away from what we should be paying attention to. At present we have Virus, Vaccine, massive new financing packages, and many others so uncommon that we are having trouble..

Contrary to what many people think, trusts are not reserved only for the wealthy. The truth is, people from all walks of life may benefit from a trust. What Is a Trust?

[views from the tower]Exiting last week, roughly 90% of the S&P 500 constituents have reported their quarterly results, with 82% of them beating on EPS and 68% beating on revenue, which compares to an average of 79% beating on EPS and 65%..

Whether you're a current business owner or a budding entrepreneur burning with the next great idea, one of the most important steps you can take on your road to success is creating a business plan. Why?

[views from the tower]Brother wind, rain, a broken supply chain, rising inflation, slowing GDP, flattening bond yield curve, Cushing oil supply hitting critical point, slowing incomes (due to ending of Government subsidies).

Sustainable investing is on the rise, accounting for about $1 in every $3 in actively managed assets.1 

[views from the tower]When I am asked what I worry about in the financial markets, the answer usually is "nothing and everything,” because everyone else in the market seems to spend an inordinate amount of time worrying, and so all of...

Few U.S. high schools have comprehensive personal finance programs, which means that some teens enter adulthood without a deep base of knowledge on topics like investing, budgeting, and consumer debt.

[views from the tower]In the face of the greatest stimulus in the history of mankind, it is a small wonder that it is leading to the US adding as much debt in the last 18 months as was in place up until 2006 for the whole history of this co

The past two years presented many small-business owners with unprecedented challenges.

[views from the tower]This week is set to begin earnings season for the third quarter of this year. It should be kicked off with earnings reports from large money center banks.

Does increasing inflation boost economic growth? And do dropping prices hurt growth prospects? No and no.

[views from the tower]Investors have become preoccupied with Federal Reserve monetary policy with regard to the anticipated tapering of the Quantitative Easing bond-buying program, along with continuing concerns about the virus and the...

Knowing the different types of investment risk can help you cope with market volatility.

[views from the tower] It's important to understand where the market has come from over the past couple of weeks. As I have noted in recent missives, the rally that we're seeing following Monday of last week's gap-down panic break on the...

Your retirement portfolio might be up, but inflation is crushing your returns

[views from the tower]I've spoken about the major economic and international elements that seem to be shaping the direction of our US equity markets, but this week seems to be a little more tenuous. In my September 8th missive...

California recently joined several other states by enacting a legal workaround for the $10,000 limitation on state and local tax (SALT) deductions.1

[views from the tower]Valuation is a perfect example of something that investors are told matters a great deal, but I have not seen any real evidence to support that in practice.

In 2021, 44.7 million Americans are facing the burden of student loan debt. They owe more than $1.53 trillion in student loans. These alarming statistics prove the importance of saving for higher education.

[views from the tower]For the last two weeks, every time it looked like the stock market might correct a bit deeper it (once again) just came right back.

The rules and consequences of IRA beneficiary arrangements are complex

[views from the tower]I plan on talking a bit about where the markets are as they seem to continue to go to all-time highs: the S&P 500, Dow Jones Industrial Average, New York Stock Exchange, and the NASDAQ Growth Index.

[views from the tower]Before March 2020, there really hadn't been a comparable broad market sell-off since the 2007-2009 Financial Crisis, and many stockholders considered themselves to be "long-term investors,’ yet had not really been...

[views from the tower]The Producer Price Index surges to all-time highs, and the S&P 500 and the Dow Jones Industrial Average does as well, hmmmm, that's a little strange.