Economic Update – January 28, 2019

Kent Forsey, CFP® Economic Update

Dear Friends, Clients and Associates, One of the many changes that technology has created in our modern lives, is that we can find news and headlines that support any political view we want to believe in.  The same can be said about the economy, the markets, their health and direction.  As we look forward into 2019, there are many reasons …

Global Equity Markets Decline in 2018

Kent Forsey, CFP® Equity Markets

January 2019 Trying to explain why the stock market is going up or down on any given day is an exercise best left to those writing news headlines who like to speculate.  As time passes and the dust clears, valuation of individual stocks and their markets they trade in become more a function of their actual and projected earnings. Volatility …

Tax Breaks for Family Caregivers – Tax Planning

Kent Forsey, CFP® Caregivers, Tax Planning, Taxes

January 2019   Taking care of an elderly parent at home is not easy.  New tax benefits may help some, but not all. As the number of elderly has grown nationwide, so has the need for caregivers. The baby boom generation, the largest demographical segment of the U.S. population at 74 million, are now entering their late 60s and early …

Insurance Sector Review

Kent Forsey, CFP® Insurance

December 2018 Insurance losses by state are adding up and there is a strong reason to believe rates in almost every category will be going up.  As natural disasters mount from wildfires in California to hurricanes and flooding in Texas, Florida and the East coast, insurance claims are in the billions of dollars and growing. Most major insurance companies offer …

Senior Bankruptcy – Retirement Planning

Kent Forsey, CFP® Bankruptcy, Medical Debt, Retirement Planning, Social Security

November 2018 The rate at which seniors file for bankruptcy has more than tripled since 1991 amid reductions in retirement and benefit payments. Of the people that are filing for bankruptcy each year, 12.2% are aged 65-74 versus 2.1% for the same age group in 1991. Adding to financial burdens, the age at which full benefits are paid by Social …

When Taxes Replaced Tariffs – Historical Note

Kent Forsey, CFP® Tariffs, Taxes

November 2018 As a young country, the first of tariffs enacted to protect American business interests was the Tariff Act of 1789. The act was written to raise funds for the newly established government, reduce debt from the Revolutionary War, and protect U.S. companies from unfair foreign competition. At the time, Congress passed tariff amounts from 5% to as high …

Leading Scams Targeting Seniors – Retirement Planning

Kent Forsey, CFP® Client Education, IRS, Scams

October 2018 Fraudulent schemes and scams have always existed but there increase and focus on the elderly is troubling.  The National Council on Aging estimates that nearly 1 in 10 Americans over the age of 60 experiences some form of financial elder abuse. IRS Scams – Callers claiming to be IRS agents often call unsuspecting seniors at home, accusing them …

Macro Overview – September 2018

Kent Forsey, CFP® Client Education, Macro Overview, S&P 500, Stocks, US Economy

Here is a quick review of some recent issues affecting our economy from tariffs to emerging markets, history making gains to history making mandates. Trade and tariffs continued at the forefront of discussions among the U.S. and international trading partners.  Topics at hand included the North American Free Trade Agreement (NAFTA), the World Trade Organization (WTO), and safeguarding U.S. intellectual …

Benefits of A Trust Versus a Will – Estate Planning

Kent Forsey, CFP® Estate Planning, Living Trust

August 2018 A properly drafted will or trust is essential for anyone that has assets to leave to heirs. Either a will or a trust allows you to designate anyone you wish as beneficiaries. Both a will and a “revocable living trust” allow you to identify who the heirs to your assets will be. The main difference between the two …