In the wake of the so-called “Brexit” vote in the United Kingdom, and the possibility (though not the certainty) that the U.K. will leave the European Union, you’re likely reading a lot of alarmist stories about the vote’s impact on the U.S. and your portfolio.
Don’t believe half of what you read.
Continue reading Are Brexit Fears Overblown?
Chances are, you know how much you pay in taxes. But how much are taxes costing you in time and preparation fees?
According to a Tax Foundation report, using statistics from the Office of Information and Regulatory Affairs and the Bureau of Labor Statistics, tax compliance will cost the U.S. economy $409 billion this year. In all, Americans will spend 8.9 billion hours—more than 222 million work weeks—complying with IRS tax filing requirements for 2016.
Continue reading The ‘Other’ Cost of Taxes
The joke among futurists is that flying cars are 20 years in the future and always will be. But a company called AeroMobil has recently demonstrated an elongated, road-ready flying vehicle with stowable wings that can navigate both city traffic and the airspace between landings and take-offs from the world’s airports. Meanwhile, a company called South by Southwest is about to launch a flying roadster that will sell at roughly the cost of a high-end Tesla.
Continue reading Flying Soon to a Garage Near You
You might be surprised to learn that your pension and IRA assets are protected from fraud, malfeasance and sly predation by an entirely different government agency than your taxable and brokerage accounts. Under the Investment Advisers Act of 1940, the Securities and Exchange Commission polices investment advice and the fairness of recommendations and markets related to taxable accounts. Retirement accounts are policed under the Employee Retirement Income Security Act (ERISA) of 1974, by the U.S. Department of Labor.
Continue reading Qualified Protection
You’ve probably heard that the Bureau of Labor Statistics (BLS) Employment Report for the month of May was disappointing. Economists who follow job growth in the U.S. economy were expecting 123,000 new jobs to be created. The actual number, according to the BLS, was 38,000—the smallest gain since September of 2010.
Continue reading What is the Jobs Report Telling Us?
By all accounts, Puerto Rico is a beautiful, sunny place to visit, especially in the Winter. But it’s hard to fathom how this U.S. island territory of 3.5 million people could have racked up $70 billion in public debt—roughly $20,000 per citizen, which happens to be almost exactly the population’s average yearly income. Now that Puerto Rican bonds are trading at 20-50 cents on the dollar, a lot of people are starting to wonder what happened.
Continue reading Under Water in the Caribbean
How much in lifetime earnings does it cost you to be a woman?
That’s a question posed by the National Women’s Law Center, and its analysis was eye-opening. On average, in America, a woman who is starting her career now will earn $430,480 less than a male counterpart over the course of a 40-year career. If you happen to be an African American or Native American woman, your earnings will be more than $870,000 less, and Latina women will miss out on more than $1 million in lifetime wages.
Continue reading Gender Wages