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Cheat Sheet Q&A:
Today’s Topic: How should you handle multiple outstanding retirement/investment accounts?:
Bottom Line: This is a question that comes up every now and again. If you’re the average adult you’ll change employers 3-4 times in your established professional life. That will likely mean that you will have that many investment accounts, a la 401k, outstanding if you don’t do anything with those accounts after leaving employers. According to Fidelity, fewer than 50% of Americans do roll over 401k accounts after leaving an employer. Also other life events such as a divorce could leave you with additional investment accounts to manage. You certainly should consider consolidating accounts.
There are a couple of different approaches you can take. You could hire a third party investment advisor who can assist you in managing all outstanding investment accounts. You also could indentify which company has the best combination of investment products and people that you’re comfortable with and roll all of your accounts into that brokerage firm. That’s a good place to start. Call advisors with all of the companies with which you have investments accounts. Interview them and see who stands out to you and consolidate to that company. You want to ensure you’re not leaving your investments and money to chance. Consolidation can help you feel less overwhelmed and can ease the process of monitoring the progress of your investments. There is a time and place for having accounts with multiple investment firms: Access to investment products, access to research, access to people, access to IPO’s, etc. but that’s a good idea only for the most sophisticated active self-directed investors.
If you have a topic or question you’d like me to address email me: email@example.com
Florida primary recap discussion:
Bottom Line: I want to pick up on a few themes I’ve identified based on the primary election results in Florida and specifically within Palm BeachCounty:
· While primary turnout was predictably low – Republicans were more motivated to vote
· There were more contested races that were competitive in our state than I can ever recall in a primary election
· Those who did vote generally seemed to come to their own conclusions rather than voting based on endorsements or recommendations by parties or organizations
· One issue that was narrowly defeated has restored some of my faith in humanity (ok I’m kidding a little, but just a little…)
Let me take those four themes… Turnout. There are 456,000 more registered Democrats than Republicans in Florida. So take the gubernatorial races in Florida. In the highly public and contentious Democratic primary Charlie Crist did win but with just 74% of the vote. Additionally 114,293 more Republicans voted in the Republican Gubernatorial race in which Ric Scott won with 88% of the vote. Clearly the Republican turnout significantly outperformed the Democratic turnout and there is more enthusiasm by Republicans at this point in the election cycle than Democrats. Additionally I had identified to Jim that if Nan Rich pulled 25% or more of the Democratic vote – that Crist would be imperiled in the general election. Not having the support of more than a quarter of the Democratic base (as Nan Rich won 26% of the vote) could be the difference in a Race that was decided by less than 1% four years ago (When Scott narrowly beat Sink).
Now the contested races… Even if there is someone who generally is viewed favorably as doing a good job in their elected office – I still believe they should be vetted in an ongoing basis and reminded that they are held accountable should they falter in honoring the public trust. Elections do and should have consequences – without competition to the seat we lose that important component.
As for voting based on endorsements… Well look at the Post and the outcome of races and I’ll leave it at that… But even beyond that situation… Its clear there wasn’t collective group think. Many hotly contested primaries had multiple candidates pulling significant vote totals (ie. GOP House races 18 & 22 or school board races). This is encouraging as it’ll force the candidates to continue to have to pay attention to their potential constitutes – imagine that!
& the issue I referred to was the Lake Worth bond issue. It’s encouraging that the residents of Lake Worth determined that an increase in property taxes rates (which are already nearly double that of the average total property tax rate in Florida) was not the right course of action.
Senate Republicans have created a free action oriented video game & its pretty fun... No really:
Bottom Line: It’s no secret that the GOP has lagged well behind the Democrats on using technology to connect with voters. They may have finally bridged that gap. In a cleaver move the US Senate Republican Committee Commissioned a retro style video and have made it available for free. It’s called Giopi.
You play as an elephant in an 80’s era Mario Bros. video game that’s fast & fun. You stomp of bad guys like “Taxer” which is a law looking critter with legs that tries to get you. It has four levels & you have four lives. When you stomp on the bad guys sound bites from key Democrats occur such as “You didn’t build it”.
Here’s the direct link to the game: http://www.missionmajority.com/
Sell your iPhone now & get the most money for it & trade it in when you have your new model:
Bottom Line: Umm… So how do you have your cake & eat it too? We know that every company that deals in mobile service from the wireless providers, to the all retail stores (physical & online) will buy our old mobile devices. We also know that you can always get more for your mobile devices when they are the most current model devices – especially will Apple products.
Historically we’ve seen a 20% drop in the resale value of previous generation iPhones once a new model has been released. But you can’t sell your current model until you have the new one. Until now…
Online company Gazelle will allow you to commit to sell them your current iPhone, and get today’s prices, and send them your iPhone when you have the new one. Pretty cool idea. Here’s a link to the program if you’re interested: http://www.gazelle.com/iphone