
Ahwatukee Foothills News by Dr. Harold Wong
It was not until taking Ph.D. level courses at UC Berkeley that I was exposed to the advanced concept of economic opportunity/cost benefit analysis. While attending hundreds of financial seminars over the last 50 years I have never heard any financial expert mention this concept.
Ahwatukee Foothills News by Dr. Harold Wong
Inflation in 2022 hit 40-year highs, so how can you retire well, even if we have continued inflation and a recession in the next few years?
Ahwatukee Foothills News by Dr. Harold Wong
The previous article, February 1, 2023, in the Ahwatukee Foothills News and newspapers was “Three Advanced IRA Strategies Aren’t Used Enough”. These strategies and the huge benefits become more understandable when one gives real-life client case studies.
Ahwatukee Foothills News by Dr. Harold Wong
There are three advanced IRA strategies that are rarely used. The Roth IRA allows tax-free income from your investments. The Multi-Generational IRA can double income for your heirs. The Self-Directed IRA allows you to invest in alternatives (such as direct real estate, equipment leasing, and private lending) to Wall Street investments.
Ahwatukee Foothills News by Dr. Harold Wong
Every year, the Gallup Poll asks Americans their opinions of the ethical standards of various professions. The results of the 2021 Gallup Poll, reported in a 12/23/2021 Moneywise article by Sarah Cunnane, found the following professions to be the most dishonest by these percentages:
Ahwatukee Foothills News by Dr. Harold Wong
As we approach the end of 2022, gas prices have doubled and we have 40-year-highs in inflation. The first six months of 2022 were the worst the stock market has had in 40 years. As of 11/28/2022, the S&P 500 Index is down 17% and the Nasdaq Index is down almost 30% in 2022.
Ahwatukee Foothills News by Dr. Harold Wong
In 2022, the US inflation rate hit the highest since 1981. According to U.S. Labor Department data published on 10/13/2022, the annual inflation rate was 8.2% for the 12 months ending in September, 2022, after rising 8.3% the previous month.
Ahwatukee Foothills News by Dr. Harold Wong
During the last 18 months, the US inflation rate has steadily increased and is at a 40-year high. The Federal Reserve Bank has two missions: fight inflation and promote full employment. These 2 missions are now in conflict. The Fed’s main tool to fight inflation is raising interest rates.
Ahwatukee Foothills News by Dr. Harold Wong
The Inflation Reduction Act (IRA) was recently passed and signed by President Joe Biden on 8/16/2022. According to Wikipedia, these are the main parts. The first is allowing Medicare to negotiate prices with drugmakers and limit out-of-pocket expenses to seniors on Medicare to $2,000 per year.