STOCKS....Brinker announced that the S&P 500 Index closed at 2425.5 and the DJIA closed at 21, 674. That is just 2% under the all-time-closing highs. He called it "noise."
BOND MUTUAL FUNDS.... BB repeated his advice to only buy short-duration bond funds several times today.
INTEREST RATE RISK.... BB is still adamant (after 4 years of preaching it and being wrong) that he recommends short-duration bond mutual funds - and that is all that he has in Marketimer.
Honey EC: Yes, all three of the bond mutual funds in Marketimer have short-duration. But making that drastic change four years ago has cost his followers a lot of gains every year.
MARKETIMER INTERNATIONAL HOLDINGS (VANGUARD FTSE ALL-WORLD)... BB said that each of his Marketimer model portfolios have international stock fund holdings. It has done very well in 2017, but not so well in years past. He said that portfolios I and II hold 20% and the balanced portfolio III holds 10%. He reminded listeners that most index funds have a sizable amount of international investments in them also.
Then Brinker morphed into a real jabberfest about how Congress is near record levels of dysfunction. And from there he slid on over to tax reform. Brinker told the audience that Mnuchin has said that the home mortgage deduction is "on the table" for elimination. Brinker even called it a "Donnybrook." That is completely false!
If Brinker would have been honest, he would have stated that the whiners are complaining that the standard deduction will be raised - which simply means that it will take a higher deduction to get above that standard - but nothing is lost.
Here are direct quote from Whitehouse.gov: "......double the standard deduction, while eliminating most tax breaks except for home ownership and charitable deductions."...... "Home ownership, charitable giving, and retirement savings will be protected – but other tax benefits will be eliminated."Honey EC: While I try to avoid politics, I am not going to let Brinker scare his listeners (one called today, very concerned about this) with FALSE information (posted above). Personally, I was embarrassed for, and ashamed of, Bob Brinker over this today.
==> NEWSFLASH UPDATE: Thanks to dRahme, audio clip of Brinker's political opening monologue.
==> NEWSFLASH UPDATE: Thanks to dRahme, audio clip of 2nd hour lessons on Critical Mass.
==> NEWSFLASH UPDATE: Thanks to dRahme, audio clip of what's new on Wall Street next week.
OWNING MYLAN PHARMACEUTICALS and TOBACCO.....BB told caller Frank from Ohio that he would never invest in Mylan because what they did with the Epipen was so "off the charts." And he had never invested in tobacco products because their products were "unconscionable" - in his opinion.
Honey EC: In the past, Brinker has talked about his mother dying very young from smoking. This is one subject that I agree wholeheartedly with him about. I also blame smoking for my mother's early death.
SOME INVESTING POINTS BRINKER MADE TODAY:
1. Do not buy Whole Life Insurance for investment purposes
2. Buy Term Life Insurance for protection of the bread-winner
3. Save at least 10% of your income.
4. Do not carry a balance on your credit cards- pay them off monthly
5. Why pay someone to be your financial manager - learn to be your own
6. Keep a balanced asset allocation near 50-50 in retirement.
ADDED IN EDIT: It is always best to keep deductibles high for home and car insurance.
7. People who do not listen to Moneytalk are "CLUELESS."
FRANKJ'S MONEYTALK GUEST SUMMARY
Dr. Elisabeth Rosenthal was Bob’s third hour guest on the August 20, 2017 edition of MoneyTalk. The guest’s book, “ "An American Sickness: How Healthcare Became Big Business and How You Can Take it Back" was the topic of conversation.
She said she wrote the book because after spending some years overseas, she was shocked at how expensive things were upon her return. Dr. Rosenthal graduated from Harvard Medical School and practiced in New York before turning to journalism with the New York Times.
Some of the conversation had to do with pricing. Bob proposed a minor procedure that the hospital might price at $7000, but the negotiated price with the insurance company was $1500. Insurance would cover $1200 and the patient would pay $300. The guest said the hospital (provider) puts a price out there they would like to get – and once in a while, someone might walk in with a suitcase full of cash and be willing to pay the $7000. There is little incentive for the hospital to start off with a competitive price.
Hip replacements in California could cost as much as $100,000. She cited an example of a company in CA telling its employees, “we will pay $40K for a hip replacement, if you go somewhere that costs more, you pay the difference.” She said the hospitals that were charging $100K dropped their prices.
Rules of Dysfunction: “A lifetime of treatment is preferable to a cure.” She cited people who have Type 1 diabetes who need regular, daily treatments. An entire sub-industry has grown up around these individuals. Why would the industry be focused on finding a cure? She said there are advances if there is a financial reward. In the case of multiple sclerosis, current drugs cost $5000 per month, she cited this as an example of “whatever the market will bear,” pricing.
“Sticky pricing” occurs when a new drug comes on the market that priced higher than existing drugs that essentially do the same thing. The makers of the existing drugs then raise their prices. Prices for tech products like computers, phones and flat screens have come down even as these products improved greatly. This hasn’t happened with medical procedures or drugs. Pricing is not tied to inflation, price increases outstrip inflation.
More expensive is not better. That was Dr. Rosenthal’s answer to caller Mary from Illinois who asked about seeing a more expensive doctor vs. a “cheaper” one. Patients need to ask questions about what things cost. Their doctor might not know the answer but they will learn it if enough people ask. If a blood test is ordered, ask that it be done at a commercial lab. If an X-ray is ordered, don’t assume the hospital’s X-ray facility is competitive.
Donna who lives in NJ asked about billable and contracted rates for procedures. This led to a discussion by the guest over “balance billing” and “surprise billing.” Balance billing is when the provider bills the patient for the cost NOT covered by the insurer. She said the service provider is not legally allowed to do that. You should probably check the rules in your own state, I am not sure if she meant it is not allowed in all states.
“Surprise billing” bites you when you are treated by an out-of-network provider. She gave the example of someone who goes to a hospital emergency room that is “in network,” but the doctor is not “in network.” You are supposed to be told in advance so that you can consent to be treated by the out of network doctor. You can fight surprise billing.
She took state insurance commissioners to task. In order for insurance companies to offer plans in a state, the insurance commissioners should require them to have an adequate network with enough doctors in the network so patients can actually see a doctor in a reasonable amount of time. Bob mentioned concierge doctors and they agreed people go this route for improved access.
Bob wrapped up at the usual time, about 3:52.
Honey here: Thank you for that great summary. It sounds like the whole healthcare industry is a blooming mess. Yikes!
Radio Station
KKOB770
83 comments:
Wow, I can't believe BB is on live again. This has to be at least four in a row . . . ? Seems he never goes more than 2-3 in a row in recent years.
Honey . . . comments?
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I'm surprised too, Bluce.
Darn, I was hoping or a day off. LOL!
Guess daBrink didn't want to miss a chance to hammer the president and congress from his bully pulpit where no one can possible tell him he' fullofit. :)
LOL, how the "bond index" phone call should have gone:
"We have nothing against bond index funds, but at this time we have the duration down to one and a half years on all of our bond holdings.
"I predicted interest rates would rise four and a half years ago, but they haven't moved enough for bonds to sell off so I got that call wrong. SOMEDAY bonds will sell off, trust me!"
Honey, "ha" on BB and political comments.
Methinks BB salts his calls.........
And darn......I just might have to add some audio supplements again..........four weeks or so in a row????????
This is getting me out of my usual groove......
Bob can't seem to realize that interest rates will never go up again (so I have read in several circles). I would not say "never" but it will not be any time soon. A lot of people have given up a lot of gains in the bond market because of BOB.
MikeE: I was wondering the same thing, forgone income by people who followed his bond recommendation, has that eclipsed the amount lost in the QQQQ call?
Well, you can thank the congress in part for that and in order for rising interest rates to happen, you need rising productivity, jobs and an intense bidding war for workers contributing for same..........and around here there is a big stall (that would be northern Nevada) ....in that we flat just don't have the qualified people need for the jobs we are looking for as part of the current citizenry of the US of A. Juxtapose that against a whole bunch of qualified people from other countries who happen to be on the anti-visa Trump watch list....
What does that say about our educational system..........need to do something.
It is a conundrum.
How many times does BB mention 'political donnybrook' in his show today? Did they repeat the 4 o'clock hour segment?
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Tom, it might not be quite so outrageous if he knew what the hell he was talking about.
Excuse me, but I am so sick of lies being told behind microphones, and now 3 hours of Brinker doing it, I need to get "holda" myself.
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This is a left-wing site and they say that home ownership deductions will be protected:
For individuals, the plan would:
reduce the number of tax brackets from seven to three and cut the top marginal rate from 39.6 to 35 percent
double the standard deduction, while eliminating most tax breaks except for home ownership and charitable deductions
repeal several taxes, including the Alternative Minimum Tax, the estate tax, and the Obamacare tax on investment income
Bluce,
Brinker also said on that call about bonds that his bond portfolio has done well thus far in 2017. I'd sure like to know what he is comparing it to. The Total Bond Market Index is beating Brinker's bond portfolio and Long-Term bond funds are absolutely crushing Brinker's portfolio in 2017, having more than double the return of Brinker.
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Brinker spent the whole opening half-hour hammering, bashing and name-calling congress and the President. Brinker just claimed that cutting the National Debt was hogwash. Wrong! It's already started:
From Atlantic:
ANOTHER RECORD: President Trump Cuts More US Debt for a Longer Period of Time Than Any President in History
Jim Hoft Aug 20th, 2017 9:26 am
President Trump now can claim the longest and largest decrease of US Federal Debt in US history.
When President Trump was inaugurated on January 20, 2017 the amount of US Federal Debt owed both externally and internally was over $19 Trillion at $19,947,304,555,212. As of August 17th the amount of US Debt had decreased by more than $100 Billion to $19,845,188,460,167.
No President in US history has ever cut the amount of US Debt by this amount and no President has resided over a debt cut like this ever.
Bob ought to just give it up.
I bet Soros would be willing to give him some major coin for yelling ("HEY-HEY, HO-HO") into a megaphone, marching and raising hell every weekend.
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Putting this here so the summary doesn't get too long.
Several times in previous shows and many times on today's show, Brinker put out information about President Trump's tax plan that are blatantly FALSE. I won't say he outright lied, instead, I will assume he is ill-informed. This comes directly from the President's website and his Chief Economic Advisor:
EXCERPTS: President Trump Proposed a Massive Tax Cut. Here’s What You Need to Know.
APRIL 26, 2017 AT 10:30 PM ET BY GARY COHN
We are going to cut taxes for businesses to make them competitive, and we are going to cut taxes for the American people – especially low and middle-income families.
In 1935, we had a one-page tax form consisting of 34 lines and two pages of instructions. Today, the basic 1040 form has 79 lines and 211 pages of instructions. Instead of a single tax form, the IRS now has 199 tax forms on the individual side of the tax code alone. Taxpayers spend nearly 7 billion hours complying with the tax code each year, and nearly 90% of taxpayers need help filing their taxes.
We are going to cut taxes and simplify the tax code by taking the current 7 tax brackets we have today and reducing them to only three brackets: 10 percent, 25 percent, and 35 percent.
We are going to double the standard deduction so that a married couple won’t pay any taxes on the first $24,000 of income they earn. So in essence, we are creating a 0 percent tax rate for the first $24,000 that a couple earns.
The larger standard deduction also leads to simplification because far fewer taxpayers will need to itemize, which means their tax form can go back to that one simple page.
Families in this country will also benefit from tax relief to help them with child and dependent care expenses.
We are going to repeal the Alternative Minimum Tax (AMT). The AMT creates significant complications and burdens by requiring taxpayers to do their taxes twice to see which is higher. That makes no sense; we should have one simple tax code.
Job creation and economic growth is the top priority for this Administration, and nothing drives economic growth like capital investment. Therefore, we are going to return the top tax rate on capital gains and dividends to 20 percent by repealing the harmful 3.8 percent Obamacare tax. That tax has been a direct hit on investment income and small business owners.
We are going to repeal the death tax. The threat of being hit by the death tax leads small business owners and farmers in this country to waste countless hours and resources on complicated estate planning to make sure their children aren’t hit with a huge tax when they die. No one wants their children to have to sell the family business to pay an unfair tax.
We are going to eliminate most of the tax breaks that mainly benefit high-income individuals. Home ownership, charitable giving, and retirement savings will be protected – but other tax benefits will be eliminated.
This is not going to be easy. Doing big things never is. But one thing is for certain: I would not bet against this President. He will get this done for the American people.
Gary Cohn is the chief economic advisor to President Donald J. Trump and Director of the National Economic Council
M@H: Do you think they could get Blinker to pull down some historic statues?
Bob mentions states that have no state income tax and implies their residents will not be affected if the feds eliminate the deduction for state income tax. Residents of these states have been able to deduct the sales tax in the interest of parity with residents of other states who deduct their state income tax.
Bob must be aware of this, or is he? In any event, if the feds yank the deduction for state income tax, I am sure they'll torpedo the deduction for sales tax too. The sales tax in Clark Co. Nevada is about 8%, tax prep software estimates the amount you pay in sales tax based on your income. The amounts are not trivial in my experience.
We don't know the details of the current discussions among the WH, HR and Senate entail regarding tax reform. But I have heard that all state and local tax deductions are on the table to be eliminated, including state income tax, property tax and sales tax. Mortgage interest deductions may be limited to primary residence only. These are all up for discussion and who knows what will be in the final bill that would be voted on.
I think one of the reasons that the national debt is down is that Treasury Secretary Mnuchin has been using extraordinary measures since March to keep the national debt from exceeding the debt limit of nearly $20T set by the US Congress. It will probably shoot back up when the debt limit is raised and extraordinary measures are stopped.
MikeE said... Bob can't seem to realize that interest rates will never go up again (so I have read in several circles). I would not say "never" but it will not be any time soon.
Mike, are you really saying, seriously, that you have read from experts, or anyone with knowledge, that interest rates will never ever go up again?
I too have several circles of made up imaginary people with inside knowledge. They think you have it all wrong, and that in time the Fed will raise interest rates from historic lows in order to counter the threat of higher inflation.
I am the Ghost of Bob
"ANOTHER RECORD: President Trump Cuts More US Debt for a Longer Period of Time Than Any President in History
Jim Hoft Aug 20th, 2017 9:26 am
President Trump now can claim the longest and largest decrease of US Federal Debt in US history."
======
LOL, what policy enacted created this? Debt decrease yes it happened but not as a result of anything Trump did. Maybe the result of prior years sequestration and or budget control spending caps which kicked in, coupled with increased tax receipts from the stable but mediocre GDP growth still hovering in the low 2's.
Call me skeptical on this claim. If it was truly something Trump could take credit for you know he would have.
smile
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David, I heard the sun was going dark tomorrow too, and I can prove it.
Please give us a link to proof when you "hear" stuff. That simply doesn't cut it with me.
Otherwise, simply give us your opinion, but none of this "sources" say garbage here.
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Smile...you have to be kidding about sequestration.
I used to keep a debt clock on this blog until it got too depressing.
During Obama's years, it double and went up CONSTANTLY.
Ghost: Yes, I also find that rather silly, that "interest rates will never go up again."
Who is DUMB enough to make a statement like that? They already have raised them twice in the past 2(?) years. Besides, the Fed can do what they want, but market forces are more powerful than they are.
Haha, famous last words: "This time it's different . . . "
The tax code change has some bipartisan support and is expected to be a large factor for improved economic growth. Our corp taxes for example, a joke. We can expect the action/process will be utilized as partisan gotchas and media will foment unrest. The normal headwind. With interim elections on the horizon the rhetoric and caustic public displays will only heighten. The political tactic is to whip the public for independent thinking, "you don't like what's going on"?
My conservative investment fund has a high level of bonds. It is active mutual with wide birth of investment options. The fund exhibits a very long investment record, that remains a good indicator of competence. I would trust their judgement above Bobs'. Very low cost fund. Stocks will held in low cost ETF. Bob is a salesman after all. His popular show depends on originality. He needs to offer something on this front. It's kind of like an infomercial for his products. So, another reason I will trust a proven published track record over calming talk show host within a infomercial. The show is pleasant to listen to and informative. It has value, nonetheless.
The biggest threat of improved health care is gov't action. I will say gov't could be wonderful catalyst for improvement, but modern politics of either side of the aisle are proving they hunger to control this economic sector. Rand Paul appears to be a lone voice in the wilderness. Most politicians just watching wind directions while holding hand out for $$. These guys prove you can always be popular with voting public by offering excuses and supporting pop culture. Easy for them to offer sympathy and blame the other party. Easy to beat the voting public to frenzy of concern and sit back finger pointing.
It is IMHO that we are on the precipice of improvement. We have many things in the works. Per my concern, gov't will just mess it up as usual. If ever politicians could work within the behest of the public concerns, they would drive up competition to the 9th degree, empower yet more HSA savings, regulate more consumer info and standardization. Most of this entails deregulations and defanging frivolous lawsuits. Good consumer information can replace legal remedies. We should invite international business within this competition and pull regs if consumer satisfaction is high. Use regulations as the punishment for poor performance and only to the bad actors. For an analogy, use public education as the punishment for poor grades. Freedom of education for good performance. This is not freedom from education.
In the end most of this intelligent governance of economy and society rooted in founding fathers logic. We don't read or study much anymore on how this freedom and open market thinking came to pass.
re: investing in tobacco Honeybee, I bought Phillip Morris over 20 years ago, my wife was against it for social reasons but I said to her do you want to make a "statement" or do you want our daughter to get a college education? Investing is about making money not about making a statement. There are a number of social investment mutual funds, we call them laggards. In any event Phillip Morris never got my money, the person that help that stock did.
One thing I have noticed several times from Bob is his choice of the incorrect word while apparently focusing more on his emotive, professional radio voice presentation. He still has that part down pat. The latest example is that when he is obviously referring to 'paying off' the US debt, he says 'paying down' the US debt or vice versa. To many this may seem trivial, but they are completely different statements.. While we may be 'paying down' the debt ( every dollar of less total debt is evidence of that) we will never pay off (completely eliminate) the US debt. That is certainly true of doing so in our lifetimes.
Here is a "Helper Message" for THAT Bob:
This message is authored by Souradeep Chakraborty, who claims to "Speak English. Write English".
Dear THAT Bob, please keep this message "at the ready" when you broadcast.
What's the difference among "pay down", "pay up", "pay off" and "pay out"?
https://goo.gl/hs9uYe
My company 401k is at Vanguard. I have 50% in a stable value fund getting 1.5%.
They offer Pimco bond portfolio. It's not a fund but a fund of funds. It's page on the site offers no information about it except it's return, expense ratio and saying it's a long term fund.
When I call Vanguard they only offer particulars that I see already.
I'm wondering what's it's duration is? If it represents the bond market wouldn't it be an intermediate fund with a lower duration than a long term bond fund.
I'd like a better bond return but don't want to venture in blind.
I think the folks that made the statement that rates will never go up again were trying to be funny. I doubt they really meant it. For sure rates will normalize some day but who knows when.
Big Tuna: What is the ticker symbol for the "fund of funds" you mentioned? You can't do much without it.
Just go to Pimco.com and enter the symbol or Google it -- you will find out much more info than you wanted to know. If all else fails then download and read the prospectus, which has to be available by law.
The duration of the Barclay's total bond market index is around 5.8 years.
Big Tuna: need the fund symbols. 5 characters.
Big Tuna- I think you need to find each fund within the portfolio. They won't do the math for you.
Our national debt is more dangerous to countries future than Russia or N Korea. Above that our evolved system of politics is very dangerous to our future as this governing system is feckless for such hard medicine as to pay down debt. This modern system will hostage government solutions or improvements to partisan gotcha tactics. Meaning the process of law making will involve compromise. Some citizens will benefit other lose. Same with businesses.
Historically, our representative democracy system of government works effectively within this system as it puts the most knowledgeable to the task of deciding and sorting out the complexity within the context of making the country stronger and citizens life more enjoyable. We all know this, but our "system" has run off the tracks. We have a system that works more and more to political power and wealth. Some will get crumbs thrown their way to patronize their strong commitment to make it all possible.
Bob, hit this hard during the show. His comments of dysfunctional government points to this problem. He was attempting to finger the Right for dysfunction, but if should be obvious to most that our politics as practiced is the real problem. It's such a large problem most think the country will never be able to correct course. Our national debt is looking more like a non stoppable self destruction device.
I'm thinking the stock market did see much hope within Trump, but with the ever powerful political machines in high gear, we're losing sight of any possibly improvement.
I do think our politicians are working for themselves. They only have one life and want to make the most for themselves per the usual practices that have worked so well before. Most of these professionals think they have paid the price for the ticket and hate Trump for attempting to change this system they set up.
Investors are watching this close. Unfortunately, we now see the powerful abandoning ship before the political machinery butchers their future. They think it is now easier to finger Trump as the problem. They would never go against the power machinery set up in DC.
These forces are connected to our future and wealth generation. The market is reflecting this.
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Smile, I have given the website where I will engage in talking about President Trump - beyond what I have said to keep Brinker honest.
This is NOT it. So please do not bother me with your stuff anymore - here.
And be careful there too, because it is not a place to bash the President. There are oodles of places for that.
I wholeheartedly agree with what BB said re: Home insurance. I have been following that sage strategy on a $450,000 primary residence for decades. You really do save a bundle over time.
Has anyone, here at Honey's site, experienced a downside to this actionable advice?
Two “critical mass caller “questions which were particularly amusing to me, if I heard them correctly:
1. My net worth is 4.7 million Do I take a 57 thousand payment as a lump sum or annuity? (Don’t want to make a mistake here it could change my life)
2. I retired from the USPS 16 years ago and now I’m faced with my first RMD and I don’t need it? (Retired at age 56 or so like many moneytalk listeners or gubmint workers with critical mass)
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NEWSFLASH:
dRahme was unavoidably delayed in getting the audio clips from Sunday's Moneytalk to us, but here they are: ENJOY!
Opening monologue
Hour Two - How to Reach Critical Mass
The Week Ahead
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SN.... I agree with you, especially that first call you mentioned. Dominic from Cocoa Beach Florida, with almost $5million net worth, just could not figure out if (I think it was his wife's) he should go for the lump sum of 57K, or the $250 per month pay out.
Brinker didn't ask his net worth until after he had gone through all the questioning as though it was a serious question.
when he found out, Brinker mumbled that it "would not move the needle" on his net worth and was a "no-brainer. Then Brinker told him to go back to the Cocoa Beach golf course and enjoy.
I think Brinker felt like he had been made a fool of - that's sure the way it sounded to me.
Surreal hearing Bob announce the passing of Jerry Lewis driving through Davenport, IA listening to WMT am 600 SHIFTY in Skokie
Shoveled a few bucks into my coffer today!
Gabe
Jester said...
"I wholeheartedly agree with what BB said re: Home insurance".
Perhaps I missed something...
What did Bob say about home insurance?
JC
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JC....Bob Brinker said that it is always best to keep deductibles high on home and car insurance. I will add that to the summary bullet points.
Brinker's advice to get on the Money Ship of Critical Mass per saving 10%, investing in index stock fund, and utilizing high deductible life and house insurance is a good start. The problem with this advice is that he doesn't really talk of the hard truth of saving money. He lets the myth continue that we are hapless and helpless citizens depending on what an employers would pay labor. That most are within 10% of covering their living expenses, at best. Folks this is poisonous thinking that most are indoctrinated or trained to believe. That it is so hard to save and a bitter pill.
We should all be trained within the time value of money and practice the habit for all expenses. We should go about are daily lives with a business calculator in hand and do quick calculations for investing opportunities. Spouses should have a FI plan in place or at least understand the basics. I have practiced this habit and it has saved my bacon more than once. It is a practice that will go against popular wisdom as most do not naturally think this way. If one wants to get on the starship, they best head over to MRmoneymustache to understand the requirement and opportunity to attain such. This site is good especially for the ones starting out and you will be amazed on how accomplished your financial resources can improve if taking action. It's good for retirees and most that want to reach or keep their FI as well.
I would not bother with the stock market if starting out on FI at this time. Stocks are not a bargain. Most would benefit more from investments for the purpose of lowering food bills, utility bills, paying all debt off, and lowering transportation costs. Also, savings should go to emergency fund of best rate of return you can finagle. Better investment advice may go the way to upgrade property for AirBNB rental with quick switchover from home to rental. Invest in yourself per rental property management, investment options, rental market, and construction. Learn how to be at maximum self sufficiency even if you have a good job. Think out of the box per business opportunities and keep adjusting per the best returns of time and investment. Maybe a luxurious airbnb with airport pickup and lease of your private car. Really, just about anybody can adjust your living standard down and enjoy life more with the reality of achieving a 50% savings rate. When you calculate the time value of money and your desire to be FI it makes this approach common sense. The starship really is a steam roller of savings to empower business opportunities. Better to have large saving and buy stocks on sale, real estate upon a downturn, or a newer vehicle that owner hurting for cash. Your money has many better uses for wealth generation than over priced stocks at this time. Stock market is an excellent wealth generator, but only one. Savings has a higher rate of return. The savings can tile over to ever better investments with stock market being the top dog. If you have a matching 401k that would be different. That benefit needs to be exploited to the max of match.
I checked with Insurance Company re: increasing deductibles in order to decrease premiums. I was told that increasing my deductible on my home insurance to the maximum of $5,000 from my present deductible of $1000 will only save me $60 per year. With respect to my auto insurance I have a deductible of $1000 and it is the highest the Company permits. Struck out X2.
I have been with Liberty Mutual for 60 Years.
Gabe
I've had the same results with the same company as Gabe. I did recently dump Liberty Mutual and go back to State Farm. I have car insurance with State Farm so better rate on both home and auto when combined. I did talk to another, at this time, with same results of dropping Liberty to go to State Farm. I don't bother with Collision. Michigan has required unlimited medical on auto's. This was sold as only costing pennies per day. Funny now it has pushed our rates to highest in country. People, don't believe politicians. And of course between fear mongering and those sad stories of those that benefited make the shackles impossible to take off. I'm sure when the politicians take over health care it will be different, though. Laugh.
Getting on the Money Ship- As a young man I did the calculations for wealth loss on the unhealthy habit of cigarette smoking. A double whammy of extra high end of life medical bills and costly investment during the most important saving period of lifespan. Are smokers nuts? Do they realize the money being thrown down the toilet? Even back then with cheap cigarettes it was extremely stupid. Shouldn't we have a class within education system to achieve wealth, health, and happiness? You know since the information would provide the most important education to one's life span of enjoyment.
The same logic and cost analysis with ordering drinks other than water during dining. How about the habit of hitting the bars vs organising social events with peer group? Purchasing new cars as compared to used or even purchasing cars directly from prior owner with cash in hand? Owning high MPG cars with trailer as compare to 4x4 trucks for the same purpose. Utilizing one car instead of convenience of two. Giving up the car entirely. One can attain health benefits when shoveling snow as compared to commercial service option. Same for yard work. Especially, with ever so attractive John Deer riding lawn mower status symbol so present as compared to space saving self propelled mower.
One must realize the wealth generation of savings. This money is true in your pocket money, before all the tax hits. It's secret money the gov't doesn't know about and can't get.
So, one of my social security low rental residents single female is paying close to $100/month for cable. She complains and is within a continual battle with the agency. I offered to put up an aerial once, but have learned over the years that saving tenants money will only result in them moving quicker. They buy a house or rent more expensive digs. My units are nice and high value, but still this happens more than I appreciate. You know as I young adult I did the time value of money thing for the true cost of cable. Back then I thought it was the dumbest expense I could make. So, a life time of no cable bills. With high definition OTA is even better choice,nowadays. Also, for a few hundred $ I could record 24x7 and have a better experience. I just have better things to do than waste time with cable.
My folks always had a garden. I've kept the habit and improved. Most of my siblings (large family) claim the healthy childhood experience entailing, home cooking, much physical activity, and basic organic produce was the key for good health start. So, we did the same with our family. How much is that worth?
Currently, there our systems that really crank up production and quality. One is tower garden that my brother utilizes. It's the one that Disney world had on display with the pay tour. These are soilless hydroponic systems. Another one is featured post on mrmoneymustache that is hydroponic and fish raising that is gaining in popularity. This stuff is just perfect for after school job assignment for youth looking for income. An a very productive at home job for youth. The system is a challenge but very interesting and more than capable of meeting the families fresh produce and fish needs. Probably, can be expanded to outside supplier of same. These are continuous production systems. Not seasonal.
Some more things that our family achieved for savings. Staying put in a smaller paid for home within good appreciating community. Attending community college then transfer credits to state college, purchasing old ebay cars for children then fixing. Really, a life time of untypical cost reductions. I can truly say we gave up nothing and imprinted on our youth the true value of money.
My BIL, a biology teacher, started out by building his own home with donated land from father's farm. A nice location and easy to maintain ranch house. You know they never moved. I couldn't calculate the value of that early decision. Same for a foremen I knew that drove around in new Cadillacs. He married at a young age and built his own home. He never borrowed a dime in his life time. There is tremendous wealth generation available with savings or what I would label cost reductions.
Gave back about a third gained yesterday.
Gabe
Honeybee,
Thanks for adding the insurance info!
JC
Vanguard is going to launch a corporate bond ETF comprised of its existing ETFs.
Say What?
The Vanguard Total Corporate Bond ETF will consist of investment grade corporates held in Vanguard's Short Term Corporate Bond ETF, Intermediate Term Corporate Bond ETF and Long Term Corporate Bond ETF. Expense ratio 0.07% per year.
Honeybee,
I've been meaning to ask - did Brinker actually say this on the show, or was it a joke?
"7. People who do not listen to Moneytalk are "CLUELESS."
Either way it is HILARIOUS!
JC
Gabe said:
"I have been with Liberty Mutual for 60 Years".
Gabe, perhaps it is time to do a bit of comparative shopping? If nothing else, you might be able to use it as "leverage" for a reduction in LM policy cost.
By the way, for Seniors out there - you may want to look into "Senior Defensive Driving Courses" (among other nomenclatures). Depending on your state and insurance company, you might get a discount on your Auto Policy premium (usually for a period of 3 years). Even if you don't get a discount, these courses are often inexpensive and well worth the cost.
I believe AAA and AARP are the primary players in this space, however I'm sure there are quite a few secondaries also.
JC
.
Jerrod....Brinker actually said it. He was referring to investment knowledge.....
JC: I have and LM is running in the middle of he pack. I have had a few claims over the years and LM was spot on in payment. So... I made the decision to stay.
Thanks.
Gabe
I recently traded in a car on a new one and when notifying the insurance company, the customer service woman (1-800 number) asked how many miles per year I expected to drive. This car does not get driven much, I estimated about 9K per year. That seemed to make a difference.
I have a local agent for this coverage, house and car w/ same company, but they apparently aren't beating the bushes for discounts on customer's behalf. You have to ask.
Honeybee said
"Jerrod....Brinker actually said it. He was referring to investment knowledge....."
honeybee,
Well, as I said "Either way it is HILARIOUS!"
So now that you have confirmed that THAT Bob actually said it - It is HILARIOUS MAXIMUS!
Indeed, Bob is well known for being a very modest, self-effacing, non-political gentleman.
JC
Jerrod wrote: "Gabe, perhaps it is time to do a bit of comparative shopping? If nothing else, you might be able to use it as "leverage" for a reduction in LM policy cost.
"By the way, for Seniors out there - you may want to look into "Senior Defensive Driving Courses" (among other nomenclatures). Depending on your state and insurance company, you might get a discount on your Auto Policy premium (usually for a period of 3 years). Even if you don't get a discount, these courses are often inexpensive and well worth the cost.
"I believe AAA and AARP are the primary players in this space, however I'm sure there are quite a few secondaries also." STOP JERROD QUOTE
-------------------------------------------------------------
Jerrod/Gabe: In recent years (10-15?) it seems that insurance companies will creep your premium up every year and in a few years you will notice it. That has happened several times with me (auto and homeowner's) and when it does I go shopping. I can nearly always find someone cheaper. I hear similar stories from a lot of people. It's too bad it's gotten to this because it is a big PITA to screw around with new insurance agents/companies every few years.
Unfortunately, shopping around doesn't always work: Hartford raises my business insurance every year by 10-15%. But their (ridiculous) premium is higher than anyone else's so I'm stuck with them. The coverage I MUST take, vs. the coverage I would LIKE to have are quite different (example: I live on a dirt road in the woods, five miles from a one-light town, yet I must pay a "terrorist surcharge" or whatever it's called). If I could actually buy only what I wanted, the premium would not be out of line.
As for defensive driving courses for us, that's good that the AAA and AARP are behind it, but I don't belong to either of them. However, I do belong to the AA. Will that be a "plus" for me?
And in the words of the late, great Bill Flanagan himself, "Where's my whiskey?"
.
JC....I think it slipped out and he might have regretted saying it. I'll ask dRahme if he by any chance could get us the audio of it.
Bluce: You make some very good points. At this time or stage in my life, I am seeking less hassle and will pay somewhat more to avoid switching. A few bucks here and there won't break me and perhaps spare me the stress or anxiety most likely occurring to achieve a better price. Reaching critical mass provides me this luxury!
Thanks.
Gabe
PS....I am not proud of this strategy but rationalize it to myself.
State Farm and most do have a new insurer discount. It fades away after a year or two. Some who know this will automatically send out quotes request after 2-3 years. Older generation consumers are thinking company or customer loyalty and the value thereof. Presently non to be had. Businesses fear the liability of any such thing that would award groups benefits. They run by a rule book and that is their first line of defense in lawsuit.
Actually, the current crazy legal system has devalued all insurance products. This is heresy stuff and a large constituency won't believe. I've seen how people behave with insurers. We read insurers huge legal bills and regulation requirements. They can't afford to be a good neighbor and cannot offer you safety. There is no safety in insurance. That is up to you for health and risk.
Insurers aren't going to hand you $100k of benefit without a fight. They will review all gottcha's within the contract. They will even bend the regs or laws if they see you have no lawyer and sound reasonable. This is subcontracted service as then the company can step in when it gets messy and fire the sub contractor.
Think of all the waste insurers spend on advertising, all the criminal acts they get roped into paying. Note that only a small portion of arson acts get solved, despite what you read.
When I first moved to Michigan, a girl friend had suffered a bad car deal. A lemon per her. She was local and new many. A friend offered the usual deal from his contact. For couple hundred her car would go missing. The trashed car would make it's way to Detroit. I remember for years and years the stolen car market in Detroit was outrageous. No one bothered their little head about it as it was a victimless crime given auto insurance picked up the tab. Governor Engler put a stop to the nonsense. Your insurance dollars hard at work.
Mrmoneymustach that I've referred to before thinks like this, also. He is past electrical engineer, so no dummy. He took the stats on fire insurance. It wasn't a reasonable cost for his home. New construction, built with recent codes. He lives in low risk community. He does construction (repair) himself. So, insurance he believes is just another product to compare cost vs benefit. Realize the industry lives upon fear mongering and attempt to advertise the fact that all risk is gone with their products.
I utilize Samaritans Ministry for health insurance. But, it's not insurance at all. Just a group of consumers whom agree to send their agreed to monthly payment to those that need money for health care. This is a COOP style setup that suffers minimal overhead. They offer articles and counsel to minimize health care costs. You would be surprised how much control you have. They do award for cost savings. Ya, $300 deductible and $220/person per month cost. So, there you go. No government needed, just well intentioned consumers willing to work together for common good.
My wifes employee (hospital) offers tremendous deal for retiree health insurance. Unfortunately almost 2x the cost. Also, the hospital has higher deduct and one is still on the hook for copays. SM works to pay everything after the $300! You can use SM anywhere, a good thing for travelers.
I pretty much have gave up finding info on the Pimco bond portfolio. It's a long term bond fund of funds trust thing I know and it's duration is( if I could find it) too high for me.
I know the stock market is at highs and interest rates are way low. Anyway, I put my stable value position in my 401k(20% of my total portfolio) into a retirement income(again a fund of funds trust thing). The retirement income thing is 40% stock mix and 60% bond(mostly us total bond).
I know I went against the consensus choice of finding a low point buying opportunity, but what the hell.
My total portfolio is 33% in stocks, bonds and fixed each. A mix I feel comfortable with to withstand a stock and or bond downturn. I like that the bonds allocation is in a intermediate basket of bonds in case interest rates go up and they can recoup in a few years.
I thought about getting a Vanguard personal advisor but I know they'll want me 65-70 % in stocks which exceeds my comfort sleeping zone.
Also, I wrote some time back with my concern about an Aunt with dementia who had her portfolio in 100% long term individual bonds. After 5 years of paying $8500-$12000 a month in nursing home/caretaker bills she has slightly more in her portfolio than she did when the payouts started almost 5 years ago. Go figure.
Bluce said:
I live on a dirt road in the woods, five miles from a one-light town, yet I must pay a "terrorist surcharge" or whatever it's called).
Bluce,
It sounds as if you live in a rather remote area. I am sure it is a very nice area - animals, trees with birds singing in them - nature abounds!
As for the "terrorist surcharge" it seems to me as if your insurance company is self-identifying its business practices correctly.
During my lifetime I figure (very conservatively) that I have spent $40,000-$50,000 or more on home and auto insurance. During that time I have had 3 claims - the total amounting to about $5,000. My last claim occurred about 15 years ago. Until about 5 years ago my home/auto insurance would increase 5% annually (or less). Now, annual increases are 15% to 20% or more.
I have made a note in my insurance file to check to see if there is a "terrorist surcharge" on my next premiums!
JC
Jerrod: The "terrorist surcharge" is only on my business insurance, which amounts to about 600 square feet of my barn.
With all this talk about rising insurance premiums I went back through my records. In the past 10 years, car and homeowners premiums have decreased by a net 25% and 7%, respectively. The decrease would be much larger, of course, if inflation was factored in. Additional Umbrella coverage is a rather small cost but is up 16% over the same period. (Probably increasing less than the rate of inflation.) During this period I had one claim for a minor non-injury car accident that was my fault but State Farm has maintained my accident-free discount.
Yikes, I've kept track of expenses since the 80's and no such insurance premium decreased ever experienced. Remember, back in the Great Depression when insurance companies panicked as they were threatened with a loss of usual profit given the stock market turndown. You do know they all colluded to excuse themselves for taking a big hit on consumers insurance needs cost. What are you going to do? Suffer a potential catastrophe? This temporary rate hike was just to cover their temporary loss of profit. So, since we have all enjoyed 8 or so years of great returns on investments the insurance companies rate hike must have tanked, right. Do they offer greatly discounted insurance rates nowadays?
I do know more and more that claim insurance is bunk. If you are one that practices and adept to keep yourself above average safe/healthy and live within safe neighborhoods, insurance is probably a very big loss of wealth. Life itself is a gamble and nothing can keep you secure and safe. So, it's comes down to calculating the risk. Fools think betting on the lottery is a good investment. The informed and thinking crowd will calculate the cost vs reward and roll the dice. These insurance companies really do pay the politicians off and play the dubious most corrupt game in town. They are very wealthy and play dirty. It seems the poor are the easiest prey as well as widowers. They look to information (advertisements) that promise help.
Forrest and Jan: I agree with you! It is difficult for me to believe that rates have decreased over the years. I know mine has not!
Gabe
Betting on the lottery was a good investment for the woman who won the Powerball, approx. $750 million, much less after taxes but enough to stage a really nice Labor Day bar-b-que for friends, family. "Long lost" friends and family will probably show up.
She told her employer she was through. What allocation would BB recommend? I'll bet the financial advisors are circling. I hope she has plenty of shark repellent.
gabe said:
"It is difficult for me to believe that rates have decreased over the years. I know mine has not!"
It depends on your provider and where you live. State Farm states: "Insurance premiums have been adjusted and continue to reflect the expected cost of claims. Some policyholders will see their premiums increase while other policyholders may see their premiums decrease or stay the same. The amount your premiums changed, if at all, depends on several factors including the expected claim experience in your area, the coverage you have, and any applicable discounts or charges."
"The longer you are insured with State Farm and the fewer claims you have, the lower your premium." This is, in part, due to claim-free discounts (homeowners) and accident-free discounts (auto) which are applied after a certain number of years of no claims. The premium adjustments depend on your tenure with the plan, your claims history, and the terms of the plan in your state/province.
It also doesn't hurt that I live one of the five states with the lowest auto and homeowners insurance rates:
https://www.forbes.com/sites/jimgorzelany/2012/03/08/states-with-the-highest-and-lowest-auto-insurance-rates/#3e8b2ff03de9
https://quotewizard.com/news/posts/top-5-states-with-the-highest-and-lowest-home-insurance-rates
More on the lottery winner.
Massachusetts' treasurer says she offered advice to the winner of the $758.7 million Powerball jackpot and her family about being careful with their newfound wealth.
Deb Goldberg tells reporters on Thursday that "a lot of people will be coming at them with all sorts of things." She says she encouraged them to find very good lawyers and advisers and to think carefully about how they're going to manage their money -- and to subscribe to MarketTimer. (NO, I JUST ADDED THAT).
Fifty-three-year-old Mavis L. Wanczyk (WAHN'-zihk), of Chicopee (CHIH'-kuh-pee), won the jackpot.
On her Facebook page Thursday afternoon, someone had already written to her asking for help for his family to pay off a $100,000 house.
It's the largest grand prize won by a single lottery ticket in U.S. history.
Wanczyk worked at a hospital for 32 years but quit when she won.
Biker: Your explanation makes sense. With my homeowner policy, I have inflation adjusted rates. As my value of my house increases, so do my premiums. My auto policy's premium continues to rise without any explanation other than the Insurance Company.... bases it upon my age and miles driven. I do not drive a lot so I am conflicted about the charges but too "lazy" to check other companies for the reasons I stated in an earlier note.
I am told that Liberty Mutual falls in the middle of insurance companies with respect to cost. They have been very good at payment for damage in the past. So....... I'll stick with em!
Gabe
Grocery Store Stock Massacre Today (thanks to bozos saying he will lower prices at Whole Foods)
Look at Kroger - Down -8.1% today!
Unbelievable!
https://goo.gl/SjPA86
JC
I moved my insurance, home and autos, to USAA a year or so ago as they were the less expensive for me.
My experience with one rental property since'09. No appreciation, but good cash flow. Insurance tripled over the years. Even the agent was upset as he has rental property. Nothing to do other than to max the deductible. Construction costs continue to increase, so they claim that is the reason. But, once I read that old homes (rental?) can be paid at market price instead of rebuild per insurer privilege choice. One really does need a lawyer every time a new contract comes out with all the disclaimers and insurance disqualifiers. Most Landlords fear mold, water, and lead. Wouldn't you know the insurance companies have a pile of disqualifications for these events. You ask you agent and unless you get a written response it won't help much in court. As you know very hard to get good consumer info and guarantees within this industry.
Also, much trepidation upon insurance industry within their business. They can't exclude the legal liability. The crazy Judges all on the hunt for popularity. They have immense power. My BIL (lawyer) informs me of how everyone is so ignorant of a District Judge power. So, we get popular political disasters like Katrina that savage the insurance industry per pop media and judge rulings. Never mind the insurance standards per 100 yr history.
Here in Michigan the right side of state (very populous) decided they didn't want to pay high insurance rates. It was unfair and they went to court. Never mind the insurance actuaries that this region is full of corruption, illegal activity, and high accident rates. So, now I'm located within probably the safest zone of the state to live in and have zero lifetime accidents per good driving skills/habits and do not receive much reward with low rates as history of insurance company rates should deliver. Remember, SW Michigan was the nations hotbed for car theft at one time.
Also, their is much corruption within gov't to hand out goodies to corp and economic sectors for supporting their politics. It's just a way of business life even within small towns to pay to play in business. You must play nice and support the power base to award your good efforts per fair practices.
So, hazardous waste fits in this category. Regs go through the roof to make everyone healthy and safe. Forget that their are low cost methods that involve little gov't that have been proven. No, we get much press and fear mongering to push fed regulation to the rescue. We get horrific gov't fines that make they country more into fascist state. DC is becoming the control center and first step to gain market access with permission. This modern political state plays against the insurance industry. Most businessmen are trying to keep their head down and support popular causes as to avoid attention. I've seen this phenomenon within health care and especially drug suppliers. They had to merge into huge international corporations per the cost and risk of doing business especially the U.S.. O.k. to savage the consumers as they don't have a choice and can be easily fooled. The voting public again is pushed to beg for more politics to rescue them. We've invented quite a system for governance.
Speaking of insurance, I'm disappointed that an organization like AARP sends out ads for policies that are very expensive. I thought AARP is supposed to be always looking out for the best interest of older citizens so I assumed they'd be shopping around for the very best and reasonably priced policies. That does not seem to be the case. I can find much better and less expensive policies on my own.
Jim: AARP is a farce!
Gabe
Jim: The liberal AARP did not save me any money either. I no longer belong to them, and not sure why I ever did. There were zero benefits to me; even their magazines were just full of fluff and gossip, like a "People" magazine for seniors.
There is a conservative version of them that I do belong to, but the name escapes me at the moment. I think the acronym is three letters. But I'm dumping them too, there are zero benefits to me.
HB, Very much Appreciate your blog work including the links to previous years of your blog. I consider BB’s obsession with low duration a significant bad call that rivals in severity his QQQ bulletin. It has been a real stinker for me.
FROM:
December 16, 2012, Bob Brinker's Moneytalk: Summary, Excerpts and Commentary
BRINKER FIXED INCOME PORTFOLIO AND BALANCE PORTFOLIO....Caller Ronnie from Alabama said he had been listening to Moneytalk since 1986. He said that he had gone from negative net worth to "critical mass" of about $1 million. Brinker asked him how he did it. Ronnie said that, in addition to "paying himself first" out of a largely six figure income, he took more risk than Brinker advised and had bought gold when it was about $1200 an ounce. Ronnie said that he was working toward a goal of 50-50% asset allocation and asked: "What I've done on my asset allocation right now is 70% stocks as mirrored by your Marketimer portfolio #2 on page eight. And then my 30% in bonds is mirrored by your Marketimer income portfolio on page 7. Is that the correct way to do it?"
Brinker replied: "You can do that. I've talked about hybrid portfolios a number of times. You may have heard it on the broadcast....Now we publish a balanced portfolio on page 8, the model portfolio III....We publish fixed income as part of that portfolio but we also publish a separate income portfolio on page 7. If someone wants to substitute the income portfolio on page 7 for the income portion of the balanced portfolio, they can do that. That would be a hybrid.....Right now, we don't have any money in the stock in the income portfolio on page 7. There have been times this year when we have had up to 10% in the stock market in the portfolio......"
Honey EC: Did you get all of that? The fixed income portion of the balanced portfolio III "on page 8" are also in the fixed-income portfolio "on page 7." Was Ronnie a plant? I don't know, but he sure knew the jargon Brinker uses to hawk his wares. :)
Brinker sold all the Vanguard Wellesley Income Fund holdings in October from both portfolios. It seems odd to me that Brinker has now sold all of the Vanguard funds in the fixed-income portfolio, except Vanguard Ginnie Mae Fund, and replaced them with funds that have much greater expenses.
The "new" funds in the income portfolio are all higher expenses. DoubleLine Total Return Fund charges three times more than Vanguard funds. Metro West Total Return Bond Fund, which basically replaced Vanguard High-Yield Fund, charges almost three times as much. Dodge and Cox Income Fund (DODIX) is about twice the price of Vanguard's funds. I compared the performance of all three of those funds with Vanguard's High-Yield Fund and it's astonishing to see that the high-yield fund has outperformed all of them over the past year.
A mixed market for the week!
Gabe
AARP via The Hartford saving tons of $ for me. Last recorded compare between Geico Nationwide and The Hartford back in 2010 showed over a $2000 savings for me home and 3 autos. I was doing the compare every year but stopped cause consistently the better value was the Hartford. I just reuped today my AARP membership.
The savings keep adding for me.
Liberal AARP LOL who cares as long as they save me money.
smile
Just for laughs, I spoke with our home insurance agent the other day, and asked her the price we would pay for the same policy coverage if we went with the standard $1,000 deductible vs. the $10,000 deductible we currently have. She quoted me the numbers and it turns out that we save 35%.
The umbrella insurance that we have and highly recommend, as does BB, especially for high-net worth folks, is a separate policy not affected by the deductible.
We also have our vehicles and tractor insured with the same household familiar insurance company.
I really should add that we have been with this company for about 4 decades, never filed a claim for home or auto, have excellent driving records, (although that could change in an instant by some teenager driving while face-planted in some smart device), and have FICO scores of 800 or greater.
The following link addresses what you pay for insurance and your credit score.
FICO and Insurance Premiums.
Hope this helps.
N. Korea just lobbed another missile into the Sea of Japan.
More testing of ballistic missiles capability or simply a statement of defiance.
Bannon's recent statement is correct on this.
As stated If it was an easy problem to solve it would have been done already.
smile
What SN posted. The financial industry to my thinking has so many back door and hidden charges that investors are clueless. This is what Bogle helped clean up with Vanguard. This is why low turn investments are more attractive as one can count on paying fees at every turn. With popular retirement funding the financial industry is creating ever more creative ways to charge investors. Read Forbs "How much do mutual funds really cost" as one example. What SN posted doesn't look good, ethics wise. The financial advisors are just as bad.
By the way I do laugh when reviewing what credit card companies and other corporate accounts get away with legally. I would be locked up as a Landlord if attempting any of it. This is why pay to play is so important within our regulation industry (politics). If your a small businessman just fair game for those on the hunt for popularity.
I Reviewed "Consumer Affairs.com" website for insurance ratings. Hartford had the lowest ratings that I checked. State Farm and Liberty Mutual tied. A post of Irie auto insurance consumer switching to Hartford AARP with follow up of big mistake. Irie auto had the highest ratings, but fewer. Might have to check them out. The Hartford AARP insurance, didn't see any advantage?
It's been a while since reviewing fire insurance. May need to max out the deductible on all.
Gabe you said "A mixed market for the week".
The Dow, s&P 500,vti NASDAQ, and total us bond were all up.
The Stock & Bond Market
INDEX CLOSE WEEK YTD
Dow Jones Industrial Average 21,814 0.6% 10.4%
S&P 500 Index 2,443 0.7% 9.1%
NASDAQ 6,266 0.8% 16.4%
MSCI EAFE* 1,920 -0.4% 14.0%
10-yr Treasury Yield 2.17% -0.02% -0.27%
Oil ($/bbl) $47.81 -1.4% -11.0%
Bonds** $110.12 0.2% 3.4%
Herb: Yes, sir, you are correct. Give that man a cigar! I might have had too many when I posted it. SORRY!
Gabe
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