That’s not fair!” – How many times have you heard that cry from a child?
I created a “dadism” about that years ago. I would reply, “I know, life’s not fair then you die.”
Every day since the announcement of the proposed tax legislation, there are many variations of this reply to the elimination of the deduction for State and Local Income Taxes, Property Tax, and Sales Tax.
Those losing the deduction are the people that have been subsidized by nearly two-thirds of Americans. The renters are the ones that should be crying out that it is not fair.
How many times do we say to our children “don’t do that”?
Overwhelmingly we focus on the “don’t” versus the “do”.
I want to share with you a do that is important in your investing and your financial life.
It’s something you can do immediately and change how you approach investing (for the better) and it is deceptively simple.
Turn down the noise in your life, especially the short-term noise.
We are being bombarded by the news – both real and fake!
Top conversations over the last 30 days with clients, friends, and family?
- Is the stock market overpriced?
- Will the North Koreans launch another missile?
- Obamacare Repeal – will they, or won’t they?
- Will they kneel or not?
- Michael, what are you doing about the Equifax thing?
If we were playing Family Feud, then the top answer would be “The Equifax Thing”.
It is back to school time. College parents need to take five minutes to read my blog. This may be the most important action you take about sending your child to college or a gap-year and I doubt it is on your list.
You’re probably busy with last-minute shopping, packing and worrying about roommates. Here’s one more thing you should do as you prepare for the big separation:
Ask your son or daughter to sign a durable power of attorney and a health care proxy.
Why? – The 2:00 AM Telephone Call.
The day that you have long awaited or feared is just around the corner. Your son or daughter is headed to college. The last few months have been a whirlwind for you and your child since High School graduation. In the middle of gathering all the items that they may need for college success, I recommend that you schedule some time for planning for you and your family.
Besides graduating from high school, going to college and turning eighteen there comes a new set of responsibilities, liabilities, and potential unknowns.
Thank you to everyone who joined us for a fun evening at Halftime 2017. Special thanks to Dean Silverman with Blackrock for his presentation.
A fun side note about Dean. He was the captain of the swim team at Goucher college and set a collegiate record in 2014 winning the men’s 200-meter freestyle. He is quite the competitor.
Scattered thoughts from Halftime 2017 on Wednesday, July 27
CAN THIS CONTINUE – this was the most asked question in both the presentation and in conversations heard over the evening. The subject – Real estate and housing prices.