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Turkey Dinner Flies Past $50

  • November 25, 2015/
  • Posted By : admin/
  • 0 comments /
  • Under : Economy

turkey-dinner-2015smallThis year’s turkey dinner will cost you an extra $0.70 or 1.4% compared to last year. The average cost of a classic Thanksgiving Dinner for 10 people is $50.11 according to the American Farm Bureau Federation’s survey. The relative price stability of the turkey index mirrors the government’s Consumer Price Index for food eaten at home which increased 0.7% compared to last year.

The bird soaks up the lion’s share of the budget at 46% of the meal’s cost. The 16-pound turkey came in at $23.04 this year or $1.44 per pound. The biggest year-over-year change on a percentage basis was milk which cost decreased 13.6% year-over-year. The turkey contributed the biggest percentage and dollar increase at +6.4% and $1.39.

The average cost of a turkey dinner has hovered around $49 since 2011. This year’s survey totaled over $50 for the first time since the survey began 30 years ago.

Happy Thanksgiving!


turkey-chart
Source: AFBF


10 Questions That Will Help Define Your Investment Philosophy

  • November 19, 2015/
  • Posted By : admin/
  • 0 comments /
  • Under : Investing 101, Seeking Prudent Advice

STOPANDTHINKTo define your investment philosophy, consider these key questions:

  1. What are your core investment beliefs?
  2. Do you understand your philosophy and why you believe in it?
  3. Do you know the potential risks?
  4. Does it suit your personality and individual circumstances?
  5. Will your philosophy help you follow whatever strategy you implement?
  6. What constraints are necessary for turning your philosophy into a portfolio?
  7. What will you own and why will you own it?
  8. What will cause you to buy or sell?
  9. What will cause you to make changes to your portfolio over time?
  10. What types of investments or strategies will you avoid?

 

Source: AAII


Financial Free Lunch?

  • November 12, 2015/
  • Posted By : admin/
  • 0 comments /
  • Under : Behavior, Best Practices

freelunchBarry Ritholtz lays bare the myth…

Deep down inside, you already know this: There ain’t no such thing as a free lunch, financially or otherwise.

Of so many free lunches, this is the hard truth:

  • You are not going to win the lottery.
  • Hot stock tips are worthless (the only exceptions are those especially costly tips that will get you sent to federal prison).
  • You are not going to buy an iPad from one of those deal sites for $3.
  • No, you are not likely to buy in early to the next Apple or Netflix, and if you do, you are unlikely to hold it long enough.
  • No, you are not going to make $10,000 gambling at fantasy sports.
  • You (or your kid) are not going to be the next Michael Jordan or Adele.
  • The odds are radically against you finding the mutual fund manager or stock broker who is going to make you fabulously rich.
  • Indeed, the odds are against you stock picking, market timing or investing in a venture fund, private equity fund or hedge fund that, over the long haul, is going to outperform a simple index fund.

Source: BR


Lucrative Social Security Strategy Ends

  • November 5, 2015/
  • Posted By : admin/
  • 0 comments /
  • Under : Uncategorised

captial

A new budget bill passed by Congress last week will end a lucrative maneuver that retiring couples have used to maximize their Social Security benefits.  The file-and-suspend and restricted application option that has been available since 2000 will go away in 2016.  Smart use of this strategy can add tens of thousands of dollars to a couple’s lifetime retirement income by permitting one spouse to claim as many as four additional years of spousal benefits.  The cornerstone of this approach is the advantage of accessing delayed retirement credits which increase earned benefits by 6% to 8% for each year the claim is deferred.

Social Security will no longer allow family members to submit a new claim for spousal benefits on a suspended benefit starting 6 months after the budget bill goes into effect.  If you are 66 or older now or will turn 66 within the next 6 months, you should consider the potential benefit in filing and immediately suspending your benefit. Also, if you turned 62 this year or are older, you will still be able to file a restricted application when you turn 66. Families already using the strategy will be grandfathered and their benefits won’t change.

The devil is in the details so reach out to your financial advisor for assistance in evaluating your options.

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