Financial Amnesty for Existing Clientele

I’m concerned about your financial future. Not so much because of the ‘fiscal cliff’ but because we are all living so long. Check out your life expectancy on the internet. If married, look at joint life expectancy. Tom or Rob can help you find this, but as an example, a married couple who are both 65 years old have a joint life expectancy of 27 years. Consider how much your annual expenses run now and in the future. Figure in Social Security and any pension or annuity payments on the income side and estimate your investment income.

How does it look? We used to think that a married couple aged 65 with a $1 Million each of investable assets, a mortgage-free home and Social Security had it made. Because of longevity, I’m not so sure anymore.

Perhaps it’s just me, but I seem to see lots of folks my age working in grocery stores and restaurants. Longevity and the price inflation that goes with it threatens our financial security. What to do?

We manage at least some of your assets. Do you have other assets that should come to us? We have a proven record of growing your assets. Can you add to your assets by decreasing your spending or increasing your income? Should you stay in your job longer? At what age should you take Social Security?

FINANCIAL AMNESTY for current clients who have substantial ($100K and up) monies invested elsewhere, we welcome transfers to our care with no fees on that money throughout 2013. This is a one- time event which will not be repeated.

Increasingly, I hear from clients and others who seek ‘safer’ investments even at the cost of lower returns. I don’t want to preach, but if you have a doubt, call us now to discuss and determine if you are on your way to a personal ‘fiscal cliff’.

It looks like 2012 will end up as an ‘average’ year as far as our total return is concerned. Average return is akin to ‘normal rainfall’ or average temperature. It didn’t seem like an average year as it unfolded. It was a very unpleasant year as we had numerous setbacks. Now we must endure the political process ad nauseam before we know what the new ground rules will be. Our job will be to make any necessary adjustments to continue to bring you a fair return with reasonable safety.

A reminder to all tax clients that Mr. Rick Carlson will once again be preparing returns for you. We will assist Rick and review the completed calculations but he will sign them. If you are a tax client, it’s time to start accumulating your documents for submission in February.

Very Truly Yours,

Michael F. Cantlon