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Author Archives: Ike Trotter

TROTTER: What lessons can be learned from Detroit?

On July 18, Detroit became the largest American city to file for Chapter 9 bankruptcy. A city once having a population of some 1.8 million has whittled down to less than 700,000. What will happen to the pensions of its 20,000-plus retired public employees? There is for sure the distinct possibility they could be reduced substantially or even eliminated. In ...

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TROTTER: Where did inflation run to?

Consumer inflation, according to the Federal Reserve’s inflation gauge, just hit a 50-year low according to the Personal Consumption Expenditures (PCE) price index, which is maintained by the Bureau of Economic Analysis.1 Besides tracking consumer inflation, the PCE price index measures data like household purchases, a major factor in GDP growth. The core PCE index does the same thing without ...

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TROTTER: Big spenders vs. big savers

You stand at your window and look across the street. Nice house, you think. Nice landscaping. Nice sports car. Nice driveway. New bikes for the kids. Wow, if only you had that kind of money . . . . On the other hand, the plain home down the street with the older model sedan parked out front pales in comparison. ...

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TROTTER: Has your identity been stolen?

According to data compiled by Norton, cybercrime hits over 74 million Americans annually. You know you have been victimized when you get that courtesy call or email from a bank or credit card issuer – but is there a way you can tell prior to that moment?1 There are, however, certain warning signs to cybercrime. Watching out for them just ...

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TROTTER: Social security claiming strategies

Today almost half of those filing for Social Security benefits do so at age 62, the earliest age to which the law makes eligible. Some choose to delay benefits and postpone using their retirement savings as an income source. Others apply out of necessity; their financial situation leaves them little choice. Weighing everything involved, what are your thoughts to this ...

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TROTTER: Spenders and savers are linked by asset conservation

For this article, we will discuss those areas of estate and financial planning for the age group I will refer as “age 50 and older.” Obviously, we’re dealing with a wide age span for people in this group that pairs those of the World War II generation along with the Baby Boomer generation that followed behind. And, it is an ...

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TROTTER: Dealing with the issues of debt

A couple of years back, an article in Business Week caught my attention by stating that older Americans -those identified as 55 and over, are filing for bankruptcy at a faster rate than the general population today. Even more surprising in this category would be the inclusion of those raised during the Depression and World War II and generally recognized ...

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Where is the Dow Jones headed?

Next stop, 15,000? As the Dow Jones Industrial Average settled at a new all-time high of 14,253.77 on March 5, the psychological lift on Wall Street was undeniable — the market was finally back to where it was in 2007. Or was it? 1 For many, the Dow “is” the stock market, and the stock market, in turn, is a ...

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Putting your tax refund to work

According to a recent TD Ameritrade poll, 47 percent of U.S. taxpayers expect a refund this year. The important question to ask is: What do they plan to do with the money? The answers may surprise you. While 15 percent of the survey respondents indicated they would spend their refunds on discretionary purchases, 47 percent said they would save the ...

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Why it is wise to diversify

Most all of us know of friends and neighbors who try and “chase returns” with the stock market today. Throw in to that mix day traders and others who are constantly hunting for the next hot stock, endlessly refreshing browser windows in search for breaking news and tips from assorted gurus. Is that the path to making money in stocks? ...

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