The first Thanksgiving was held in 1621 in Plymouth, MA. More than two-hundred years later (1863), President Abraham Lincoln created the national holiday that we now celebrate. For most of us, this is a joyous time to get together with family and friends to reflect on our blessings.
But, no one ever asked the turkey how he felt about the festivities. According to the U.S. Department of Agriculture, more than 45 million turkeys are eaten in the U.S. at Thanksgiving. The lesson for us: even in a celebration, there may be some that don’t share our enthusiasm.
Much has been made throughout 2013 about the three “arrows” of Japanese Prime Minister Shinzo Abe. While this deflation-fighting plan of monetary loosening, fiscal stimulus, and structural reforms has been broadly successful, I believe it will be the strength or weakness of the yen that will determine whether Japan’s economy emerges convincingly from its deflationary period in 2014.
If you haven’t already heard the news, taxes went up this year! For some, they went up a lot. The tax increases are from a combination of the American Taxpayer Relief Act of 2012 (ATRA) and provisions in the Patient Protection and Affordable Care Act (PPACA), which became effective in 2013.
While both of these tax laws have had their share of time in the limelight, I have found that many business owners and key employees are not fully aware of the impact of the changes, let alone taking action on what the changes mean.
The thought of leaving a legacy that can smooth the way for others, such as your children, is a great feeling. Sometimes, though, good intentions aren’t always enough. Without careful planning, a significant portion of your estate can be eaten up by taxes, tied up in probate court, or distributed to people other than your intended recipients.
The Health-Wealth Connection – Understanding the power of a physically and fiscally fit workforce
I was at an industry meeting recently speaking to a group of employers, retirement plan record keepers, and financial advisors about the state of retirement readiness in America as we move from old America (working for one employer and defined benefit pension plans) to the new America (multiple jobs and defined contribution plans).
The central theme of the talk was that while Americans are not saving enough, viable solutions to get more Americans on track are becoming increasingly clear. We just need to move faster. Read more
Tapering is coming. And markets know it. The mere thought that tapering of the Federal Reserve’s quantitative easing (QE) program was due in September was enough to push many markets and currencies (especially emerging markets) significantly lower. So the question arises for the occasion of the actual tapering that’s likely to begin in 2014: have markets already reacted to tapering or is there more to come? Read more