2008 Market Trends

I had a great discussion the other day about the potential tax rebate all US taxpayers may be receiving. This opens up interesting political and economic questions and points of view. My thought is that if the point of the rebate is to have the taxpayer spend that money to inject it back into the economy, then I hope most people ignore the advice. With the savings rate in the US hovering around 0% and more and more foreclosures occurring, maybe taxpayers should simply pay down some debt and live to spend another day. Carrying too much debt and the continuation of the trend will just continue to drain the ability of consumers to spend in the future. How many tax rebates can the government do?

P.S. I heard from the owner of a large CPA firm in our area that the tax rebate might be taxed as income for 2008. How ironic.

Daily Money Management

Our firm recently joined the Association of American Daily Money Managers. This group has been growing rapidly in the past several years and we have followed it closely. We are proud to join becuase of the positive impact the association is having on our industry and public perception. AADMM is providing firms like ours the ability to better develop professionals and spread the word to the consumer about the importance of understanding and managing their daily finances.

We speak with financial professionals daily about the importance of up to date, well managed daily finances for their clients. Our hope is that a strong connection can be made between daily money management and long term financial planning. Making sure the two work hand in hand is critical to an individuals financial future.

To learn more about AADMM, go to http://www.aadmm.com/

Devin