Two recent articles suggest that we may be seeing a return to riskier home financing. Friday’s Wall Street Journal carried an article by Anya Martin asking “Tempted to Put Home Equity to Work?” Sunday’s Detroit Free Press included a commentary by JC Reindl highlighting the return of Fannie Mae and Freddy Mac insured mortgages featuring … Continued
Falling gasoline prices, mandated fuel economy standards, media coverage of low volume, innovative vehicle power trains and concern over the environmental impact of fossil fuels, has raised questions regarding the future of gasoline powered motor vehicles. Most car buying decisions are probably based on the purchaser’s requirements relating to affordability (both initial cost and continuing … Continued
Having worked as a financial professional since the mid 1980’s, I have worked with many families with a vast assortment of dynamics: “normal” families, “dysfunctional” families, and everything in between. There is nothing that will drive a family to dysfunction quicker than money or transitioning the responsibility of financial decisions. In this, the final installment … Continued
The Detroit area baseball and business community lost a man of true grace and grit yesterday with the passing of Dave “Bergie” Bergman. Best known for his exploits as a first sacker with the 1984 Major League Baseball World Champion Detroit Tigers, Dave was a regular fixture in the investment and philanthropic communities following his … Continued
Thus far in this series I have discussed organizing your important documents, consolidating assets, and the Medical Power of Attorney. In this, the third installment, I will discuss the Financial Durable Power of Attorney (DPOA), Executor and the Successor Trustee. A Financial DPOA is a legal document authorizing someone to act for you. It may … Continued
Imagine yourself planning a road trip across the country. The route has been mapped out with projected stops based your vehicle’s fuel efficiency. The amount of time, as well as the cost, has been estimated based on the price of gasoline and your expected speed. Unexpected events like traffic, weather, or vehicle maintenance will be … Continued
In the first installment of this series I discussed organizing your important documents and consolidating assets. Today, in Part II, I will begin to outline the various documents that may be part of your estate plan. The most important part of Personal Succession Planning is having complete and up-to-date Estate Planning documents that clearly express … Continued
The European Central Bank (ECB) announced yesterday plans to begin a $70 billion monthly bond-buying program (also known as Quantitative Easing) beginning in March of 2015. The monetary stimulus program is expected to last until at least September of 2016. This means that over the next 18 months, roughly $1.26 trillion will be pumped into … Continued
My colleague, Wenny Gorman, explained in her recent blog on inflation that as prices rise, consumers are more inclined to make their purchase today as opposed to waiting. This is because in an inflationary environment, prices are rising which means the same purchase will require more money in the not too distant future. With deflation, … Continued
Inflation is the sustained increase in the general price level of goods and services. As inflation rises, every dollar buys a smaller amount of goods. For example, if the inflation rate is 2%, then a $1 loaf of bread will cost $1.02 a year from now. The consumer-price index is a broad gauge of inflation. … Continued
I recently gave a presentation to clients regarding personal succession planning. I prefer to call it personal succession planning versus estate planning because many people view estate planning as only being important should one die, but it also comes into play should you become disabled or unable to make decisions for yourself. Failing to plan … Continued
“The difference between a dreamer and a visionary is that a dreamer has his eyes closed and a visionary has his eyes open.” – Dr. Martin Luther King, Jr.
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