I
feel like I have a Christmas party to attend every week this month. Oh wait.
That's because I do. It's easy to suffer from fatigue and lack of enthusiasm
around this time of year as you try to accomplish all of your shopping, go to
work, have some me time, and on top of all that try to look good in social
settings.
Holiday
parties are the perfect way to get everyone together for some fun festivities.
This year I am staying away from the Ugly Snowman and Secret Santa parties.
Here
are some Christmas (excuse me, Holiday) theme parties I would like to attend:
The Worst
Present Party – Instead of spending money to outdo your friends on the best
present in a gift exchange, aim to have the worst. The problem, what to do with
them after.
Scrooge
Party – Sick
of all the holiday music playing since October 1, 24/7? Take a break with a
holiday party fit for a Scrooge with Chinese takeout, top forty songs, and no
sparkling lights in sight.
Christmas in
Vegas Party – Bring sin city to the holiday party with some poker and black jack
games. And remember. What happens at a Vegas-themed party stays at a
Vegas-themed party.
A Sexual
Harassment Training Christmas Party – Perfect for this time of year, enough said.
COLLEGE
CHRONICLES – The proposed Republican tax plan passed in both the Senate and the
House of Representatives this past weekend. Analysis from the Joint Committee
on Taxation found that the plan benefits the wealthy the most.
Ninety-one
percent of households that make between $500,000 and $1 million a year would see
a tax cut of at least $500 a year. In addition, households that make between
$100,000 and $200,000 a year would see the largest decrease in taxes. The tax
plan has all sorts of provisions that can and will negatively impact students
and their families.
Families
who work at colleges or universities are often able to send their children to
those institutions for reduced fees, sometimes with no tuition charge at all.
But under the new tax plan, that tuition waiver or reduction could be taxed as
income. In addition, families that earn below a certain income level can claim
a tax credit for their children who attend college, but the Republican tax plan
would reduce the value of this tax credit.
There
are also the changes that could affect graduate students. A Ph.D. candidate at
Massachusetts Institute of Technology estimated that taxes on graduate students
could increase by nearly 400 percent. Graduate students typically do research
for faculty members or teach undergraduate students in exchange for free tuition
and a living stipend. But the Republican tax plan proposes a tax on the tuition
waiver and the stipend that graduate students receive.
The
Republican tax plan is taxing people for money that they will never see. It is
hard enough for low-income families to send their children to college, even
with scholarships and stipends. Introducing these taxes basically erases any
relief that these scholarships may provide and introduces additional financial
burdens for students and their families to shoulder.
The
tax plan perpetuates the notion that college is for rich people who can afford
to go, instead of a place where people from all backgrounds can come together
and learn from one another. By introducing these tax plans, Republicans will
gravely harm the way that colleges foster an intellectual environment for
people from all backgrounds.
New tax bill
in a nutshell:
Jet
owners can write off jets.
Teachers
can’t write off school supplies.
INTERNATIONAL
STUDENT ENROLLMENT DOUBLED SINCE 2008 RECESSION - A new
report from the Pew Research Center finds that international student enrollment
has skyrocketed since the 2008 economic downturn. Per the report, from 2008 to
2016, the number of new foreign students at U.S. colleges and universities
increased 104 percent - "far outpacing overall college enrollment growth,
which was 3.4 percent during the same period, according to U.S. Census Bureau.
FINANCE FACT
- Number of
people who go bankrupt every year because of medical bills:
Britain:
0
France:
0
Japan:
0
Germany:
0
Canada:
0
USA:
643,000
HOLIDAY
SEASON BUCKET LIST - This holiday season, stuff your 401(k) as well as your turkey.
It’s
a good idea to take a look at your retirement plan during the holidays. 2017 is
drawing to a close and that means holidays, parties, turkey dinners, friends
and family. It also means being busy making lists, juggling schedules and maybe
even fitting in some holiday travel.
It
may seem like we’re asking a lot to add thinking about your retirement to your
year-end activities, but we believe there are some easy items to check off your
401(k) to-do list that will get you ready for the New Year.
1. Markets are
up, check your risk levels
Stock
markets have hit all-time highs this year. Good news, right? We agree, but make
sure to review your holdings, especially if you’re invested in stand-alone
stock funds. All-time highs may mean you may now be taking on more market risk
than you’re comfortable with. If so, consider rebalancing your holdings by
moving some of your money from stocks to bonds, or, to keep it even simpler,
consider moving to a target date fund, which takes care of the rebalancing for
you.
2. Look out
for your loved ones
Holiday
cheer is in the air, kids are home from school and the office is the last thing
on your mind, for good reason. That said, year-end is a great time to review
and update your account beneficiaries, especially if you’ve had a major life
event like a marriage or a newborn child. It may also be an ideal time to check
in with parents to make sure they’re on track with their retirement savings or
spending.
3. Whip out
the calculator
Not
sure if you’re on track for retirement? Consider using an online calculator to
give yourself a check-up. Retirement may seem far off, but it’s a good idea to
make sure the road ahead is well-paved. Surprises are meant for gift boxes; we
want to avoid them, when we can, in terms of retirement preparedness. And if
you are close to retirement, you might want to do an extra check to see the
potential income your savings could generate.
4. Take what
you can get
Make
sure to max out any 401(k) contribution that your employer offers to match.
Taking advantage of this corporate perk is often a big part of your final
retirement savings balance. What’s to lose when there is free money on the
table? If you’re falling short, consider boosting your final retirement
contributions of the year to meet the match level, if possible.
5. Add 1%,
and pat yourself on the back
If
you anticipate a salary bump next year, consider putting part of it aside by
signing up for a future contribution increase. If you time it to coincide with
a raise, you probably won’t even notice the difference in your take-home pay.
And, when invested and compounded over time, those extra savings can get you to
the finish line faster.
So
this season, add yourself and your loved ones to your list and give your
retirement a financial boost. Because who needs New Year’s resolutions when
you’ve got a great retirement savings plan in place!
SHUTDOWN
AVERTED ... FOR NOW - The House and Senate cleared a short-term spending bill that
will keep the government funded through Dec. 22nd but a White House meeting
between Trump and congressional leadership produced no break-through on a
two-year deal, setting up a big fiscal cliff just before Christmas.
Democrats
want a DACA extension, Republicans want wall funding. Democrats want domestic
spending parity for any military spending increase. Republicans don't. The
ingredients are there for a significant fight and potential Christmas season
shutdown.
UP AND AWAY - The U.S.
economy is headed into the final stretch of 2017 powered by one of the
sturdiest periods of growth in its nine-year expansion, helping drive
stock-market indexes to new highs. The Dow Jones Industrial Average crossed the
24000 threshold, just 30 trading days after passing 23000. Consumer spending,
home sales and business investment are among several recent indicators
exhibiting strength, and investors are also cheering the prospect of more
economic fuel in the form of tax cuts. The last two economic expansions
derailed when asset prices overheated—tech stocks in the late 1990s and real
estate in the mid-2000s. But investors aren’t fretting about that at this
point.
BIRTHDAYS
THIS WEEK
– Birthday wishes and thoughts this week to Sen. Susan Collins (R-Maine) St. Lawrence ’74 (65); N.Y. Gov. Andrew Cuomo (60); Rep.
Grace Napolitano (D-Calif.) (81).
HOMELESS - Top homeless
populations in US, source: U.S. Dept. of Housing and Urban Development.
1.
New York: homeless population, 76,501; unsheltered homeless, 5.1 percent
2.
Los Angeles: homeless population: 55,188, unsheltered homeless: 74.7 percent.
3.
Seattle: homeless population, 11.643, unsheltered homeless, 47.1 percent.
4.
San Jose/Santa Clara: homeless population: 7,394; unsheltered homeless 73.7
percent
5.
San Diego: homeless population, 9,160: unsheltered homeless, 61.4 percent
6.
District of Columbia: homeless population, 7,394: unsheltered homeless, 12
percent
7.
San Francisco: homeless population: 6,858, unsheltered homeless, 63.5 percent
MARKET WEEK - The Dow
industrials may have hit a new milestone but shares of U.S. industrial
companies continue to lag behind in the stock market’s rally.
That
may be poised to change. Analysts see a turnaround for industrials next year as
a firming economy stokes activity on the factory floor and prompts businesses
to ramp up investment spending.
S&P
500 industrial stocks are up 15% over the past 12 months, a robust advance but
one that is six percentage points behind the benchmark.
Some
weakness can be explained by a single stock, General Electric Co., which
dropped 43% over the past year. The conglomerate will continue to grapple with
its slowing turbine business and a broad restructuring effort. Throw out GE,
however, and the group is still a full three percentage points behind, notes
Thomas Lee, U.S. portfolio strategist at Fundstrat Global Advisors.
Mr.
Lee endorsed industrial stocks Friday, citing among other things economic data
that show corporate expenditures are poised to rise. Federal Reserve Banks in
Philadelphia, New York and Dallas all show brightening forecasts for future
business spending by manufacturers. A Friday reading on manufacturing activity
remained sturdy in November.
The
dollar is another big-picture reason to expect industrials to fare better.
Industrial stocks tend to outpace the S&P 500 when the U.S. dollar is weak,
since manufactured goods priced in dollars get cheaper for overseas buyers;
this year the opposite has been true. For Mr. Lee, the discrepancy should
revert, meaning industrial stocks could be overdue to bounce.
A
wild card is the tax overhaul circulating in Congress. The Senate bill would
lower the corporate tax rate starting in 2019. That time frame could prompt
companies to boost investment next year, since such spending could be deducted
against a higher marginal tax rate, according to economists at Barclays. The
flip side is that capital expenditure implications might be less pronounced
depending on the law’s final contours.
BUBBLE OR
REAL? - The
price of bitcoin reached new highs Thursday, jumping about 40% in around 40
hours and smashing through five separate $1,000-barriers to surge past the
$16,000 mark. Even for the notoriously volatile virtual currency, the upward
lurch was jarring, astounding outsiders and thrilling those who have piled in.
The rally has been sparked by the collision of bitcoin’s sudden faddish
reputation and the anticipation of institutional investors entering the market.
That momentum persists in the face of ever-present hurdles. A hack that led to
$70 million in stolen bitcoin raises security questions, while some big Wall
Street banks are hitting the brakes ahead of the debut of the first bitcoin
futures market on Sunday.
Bitcoin
was the first cryptocoin currency ever invented. No one knows exactly who
created it – cryptocurrencies are designed for maximum anonymity – but bitcoins
first appeared in 2009 from a developer supposedly named Satoshi Nakamoto.
Because
Bitcoin was the first cryptocurrency to exist, all digital currencies created
since then are called Altcoins, or alternative coins. Litecoin, Peercoin,
Feathercoin, Ethereum and hundreds of other coins are all Altcoins because they
are not Bitcoin.
One
of the advantages of Bitcoin is that it can be stored offline on a person's
local hardware. That process is called cold storage and it protects the
currency from being taken by others. When the currency is stored on the
internet somewhere (hot storage), there is high risk of it being stolen.
On
the flip side, if a person loses access to the hardware that contains the
bitcoins, the currency is simply gone forever. It's estimated that as much as
$30 billion in bitcoins have been lost or misplaced by miners and investors.
Nonetheless, Bitcoins remain incredibly popular as the most famous
cryptocurrency over time.
Cryptocurrencies
are just lines of computer code that hold monetary value. Those lines of code
are created by electricity and high-performance computers.
Cryptocurrency
is also known as digital currency. Either way, it is a form of digital public
money that is created by painstaking mathematical computations and policed by
millions of computer users called 'miners'. Physically, there is nothing to
hold.
'Crypto'
comes from the word cryptography, the security process used to protect
transactions that send the lines of code out for purchases. Cryptography also
controls the creation of new 'coins', the term used to describe specific
amounts of code.
Governments
have no control over the creation of cryptocurrencies, which is what initially
made them so popular. Most cryptocurrencies begin with a market cap in mind,
which means that their production will decrease over time thus, ideally, making
any particular coin more valuable in the future.
SIGN OF THE
TIMES - I
understand that in 39 states the highest paid public employee is either an NCAA
college football or basketball coach. The only thing crazier, is how much
they're paid when they get fired!
GREAT BARNS
- Legendary
Appleton Arena, 130 Miner Street at St. Lawrence University. Great place, great
history, don’t change it!
SWAMI’S WEEK
TOP PICKS
–
NFL Football
Pick of the Week – Sunday 12/10, 1:25 PDT, Fox: Philadelphia Eagles (10-2) vs. Los
Angeles Rams (9-3), perhaps a preview of the NFC title game. We like the
upstart Rams to win 27 – 24. (Season
to date 7-6).
College
Football Pick of the Week – Saturday 12/9, 9:00 AM PDT, CBS: Army (8-3)
vs. Navy (6-5), loser of this one gets to go to North Korea first. Army wins in
a wild one 40 – 38. (Season
to date 8-5)
D-III
Football Pick of the Week – Saturday 12/9, 3:30 PM EDT: NCAA D-III
National Semi-Final, #10 Brockport Golden Eagles (13-0) vs. #1 Mary
Hardin-Baylor Crusaders (13-0). An upstate New York surprise in this years’
tournament, can they beat the powerful Crusaders. No, 45 – 30. (Season
to date 8-4)
College
Hockey Pick of the Week – Saturday 12/9, 7:00 PM EDT: #3 Clarkson University Golden Knights
(13-3-1) vs. St. Lawrence University Saints (1-12-1). All is not well in Larry
Land, Coach Mark Morris is coming under attack from alumni and local fans, NCAA
is investigating the hockey program, stay tuned. On the ice they battle hard
but Clarkson prevails 4 – 3. (Season to date 5-4)
NHL Pick of
the Week – Saturday 12/9, 7:00 PM EDT (CBC): Toronto Maple Leafs (18-10-1)
vs. Pittsburgh Penguins (16-11-3), Hockey Night in Canada is in Pittsburgh this
week, Pens win 3 – 2. (Season
to date 5-2).
Season to Date
(91 - 67)
ON THIS DAY
- Former
President George H.W. Bush is now the longest-living president in U.S. history
at the age of 93 years and 166 days.
Bush
on Saturday November 25 surpassed the previous record held by Gerald Ford, who
lived to be 93 years and 165 days old before he died in December 2006.
Ronald
Reagan, the third-oldest living president, lived to be 93 and 120 days, 46 days
less than H.W. Bush.
Next Blog: Dear Rink Rats,
Jack Ass of the Month and it is that time of year again, student recommendation
letters.
Until
next time, Adios
Claremont,
California
December
8, 2017
#VIII-19-361
CARTOON OF
THE WEEK – Peanuts, by Charles Shultz
No comments:
Post a Comment