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Media
Matters
Maximizing Social Security
Dave was
just quoted in the August 5 edition of the AARP Bulletin Today
in an article discussing little-known strategies for maximizing Social
Security benefits. These strategies range from "claim and
suspend" -- which allows your spouse to claim a "spousal benefit"
even while your own benefits continue to grow -- to "claim now,
claim more later" -- which involves claiming a spousal benefit now
and then switching to your own, higher benefit later. See
the full article.
Flash from the Past
We just stumbled across a Wall Street Journal article from June of 2005
in which Dave warned of the dangers of loading up on real estate. No crystal ball was involved, just the
idea that chasing hot assets -- "driving with the rear-view
mirror" -- rarely turns out well in the end. Remaing
Cool in a Hot Housing Market.
Yeske
Buie on Facebook
Yeske Buie
now has a "fan" page on Facebook where we post the occasional
item of interest or pearl of wisdom. You don't have to be a member
of Facebook to follow our posts however, as there's a feed on our website
at http://www.yebu.com/facebook.htm
Recent
Recognition
In
addition to being recognized by Wealth Advisor Magazine as one of the top
wealth management firms in the country, Yeske Buie was also named a
Top Registered Investment Advisor by Financial Advisor Magazine.
How to Get Help
And don't forget that our updated
client page (http://www.yebu.com/portal.htm)
offers a full list of who does what and who you should contact for help
with various issues. Contact
numbers and email links are available from that page as well.
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The
Virtues of Muddling Through
David Brooks
wrote an interesting piece last week in which he describes the "Wise
Muddling Through" that allowed Fed and Treasury officials to guide
the country through a recession that might have turned into another
great depression, even as they continuously underestimated the size and
scope of the problem.
In many
ways, there are financial lessons for individuals in all of
this. Coping with a sometimes chaotic environment requires the
ability to adjust, adapt, and muddle through. This might involve the use
of safe-withdrawal-rates, spending adjustments, or dipping into emergency
reserves, but most of all, it means adapting to reality as it
unfolds around us. Read the
Brooks column.
What?
Me Worry?
Tim Bond,
writing in the Financial Times two weeks ago, tells us that
it's "Time to stop worrying and learn to love the recovery."
Bond notes that "never has a bull market climbed a steeper wall of
worry," and then goes on to declare that "pessimistic
expectations are likely to collide with the economic reality of a strong
recovery." Read
the full article.
Just to
keep things balanced, we note that Wall Street retail analyst Kristin
Bentz told tech ticker that "Americans are willing to do with less
and aren't going to be so easily seduced by retail," so
"you can kiss that talk of a 'V' shaped recovery
good-bye." Read
the article.
Boston
University economist Zvi Bodie told me yesterday that such analyses just
shows that "nobody knows," and what we need instead of a
crystal ball is "an early warning system, a rapid-response system,
and a risk-management system." At its best, the financial planning
process helps us to install all three.
Quote
of the Week
But this is not a story of failure. It’s a story of
effective muddling through. Bernanke & Co. never really got control
of events. But they did avert disaster and committed only a few big
blunders. In the real world, that counts as a job well done.
David
Brooks
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