Financial FYI: 50 and broke, Green Investments, Generation Y
Financial FYI Enough Income?
75% of those turning 50 have less than $25,000 in total assets according to a recent study from the U.S. Census Bureau. Source: US Census Bureau.
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Going Green, Green Investing:
Of 1,003 investors surveyed online, 71% indicated that they viewed environmental-technology companies as a solid buying opportunity, with nearly half planning to make “green” investments in 2008. Half also indicated that they would welcome their advisors recommending more environment related opportunities, while 83% responded that their advisors have never recommended such opportunities. Source: Allianze Global Investors Distributors, LLC
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Going After Generation Y:
Gen Y comprises some 80 million who spend more than $170 billion a year of their own and their parents money, and they have $40 billion savings. Gen y is projected to make up about 33% of the population by 2020. Source: Investment News.
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Americans Richest Households, Goondas
Falling From The Top
According to a study by the Department of Treasury, only 25% of the Americans in the top 0.01% of the nation’s earners in 1996 remained in that category in 2005. Meanwhile, about 55% of the nation’s lowest income taxpayers in 1996 had moved to a higher income group by 2005. Source: Investment News
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Indians Beware
Indians are taking on more home, car, and credit-car debt than ever before. Retail loans have tripled over the past three years to $124 billion. While this may sound good, banks are actually struggling because of their inexperience in recovering loans from delinquent borrowers and are coming under fire for their collection techniques. In fact, some institutions are employing “Goonda’s” or hired thugs to physically harm and extort delinquent borrowers. Source: Wall Street Journal
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Financial FYI: Income Inequality and Time Travel For Baby Boomers
Income Inequality
Despite this income equality is growing. The top fifth of America’s households earned 50% of the nation’s income in 2005, up from 44% in 1980, while the share among those in the bottom fifth decreased from 4% o 3% according to data from the US Census Bureau.
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Time Travel and Baby Boomers
According to a survey by the Lincoln Retirement Institute, if baby boomers would had the chance to travel back in time 18% said they would have sought more education, 15% said they would pay down debt, and 12% said they would have been more aggressive in their savings. When asked how they would have advise younger versions of themselves on retirement issues, 32% said they would recommend doing a better job of creating lifetime income, 27% said they would spend more time dealing with rising health care costs and the possibility of long-term care, and 19% said they would urge planning to rely less on Social Security or a Pension. Source: Investment News
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Financial FYI: Market Timing, Adult Day Care, 2008 IRS Tax Brackets
Market Timing Just Doesn’t Work
Suppose that you missed the 10 best days from 1985 to 2006, a time that equates to 5,297 trading days. During those years, the market returned an average of 12.12 percent. Those unfortunate souls who were not invested for those 10 bumper days only received 8.56%, while those who were not invested on the best 40 days earned only 1.87 percent. Source: Wealth Manager.
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Adult Day Care
As baby boomers and others seek quality care for their parents, the adult day care industry is growing at a 5% to 15% pace, depending on location. According to The National Adult Day Services Association 3,500 centers are caring for approximately 150,000 adults daily. The average cost is about $60 a day. Source: Wall Street Journal.
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Income Tax Rates for 2008
Married Couples:
Tax Rate Taxable Income
10% Not Over $16,050
15% Over $16,050 – $65,100
25% Over $65,100 – $131,450
28% Over $131,450 – $200,300
30% Over $200,300 – $357,700
35% Over $357,700
Individuals:
Tax Rate Taxable Income
10% Not Over $8,025
15% Over $8,025 – $32,550
25% Over $32,550 – $78,850
28% Over $78,850 – $164,550
30% Over $164,550 – $357,700
35% Over $357,700
Source: http://www.IRS.gov
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Financial FYI: Average Investors, Unsold Homes, Garage Full of Stuff, Googling Yourself, and The Price of Gold
Financial FYI: January 11, 2008.
Problems For The Average Investor:
According to investment research firm DALBAR, from 1984 through 2003, the return for the S&P 500 averaged 12.98%. Yet, over the same time period, the average investor produced a 3.51% annual return. The research suggests that the difference is a result of unproductive decisions on inaccurate estimations of potential gains and losses. Source: Bank Investment Consultant.
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Unsold Homes:
The glut of unsold homes sitting on the market is the largest since 1985 and sentiments among homebuilders are at there lowest levels in 22 years. US News & World Report.
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Too Much Stuff:
The storage and organization industry continues to grow as people continue to buy things. It’s estimated that it has become a $6 billion industry. A University of California, Los Angeles Study found that contemporary Americans control the largest amount of private housing space in the history of Urban Civilizations. Of 32 family’s studies, 75% had put so much stuff in their garage, they could not fit even one car into the space. Source: Wall Street Journal.
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Do You Google Yourself?
47% of adult Internet users said they had used google or a similar search engine to look for information about themselves this is up from 22% in 2002. Source: Time Magazine.
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The Price Of Gold:
The price of gold was up about 25% in 2007 – to just under $800 and ounce – and has more than tripled since 2001. The cost to mine an ounce of gold is also up. It has jumped from $250 in 2001 to $400 today as deposits have become harder to find. US News & World Report.
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Depression in 20-Somethings:
Today’s 20 somethings have a 1-in-4 lifetime risk of experiencing symptoms of depression including suicidal thoughts, fatigue, and joylessness compared with a 1-in-10risk of their grandparents generation. In fact Americans are 10 times as likely to have depression today as they were 60 years ago. US News & World Report.
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