Money & Relationships. Second marriages, even third and fourth marriages are not uncommon in todays age. While romance blooms the asset-relationship philosophy in the early stages of the 2nd, 3rd or 4th association should be, ‘What’s mine is mine and yours is yours.‘ It shouldn’t be the other person’s business what their partner has or plans on doing with what they have. Unfortunately not all people stick with that simple advice. I’ve told all my recently single clients this, ‘Don’t talk about your money, or what you own or owe for at least the first five years to someone you date or plan on spending a lifetime with. Don’t ask your partner for advice. Don’t let bank accounts, investment statements or check books lay about so they tempt someone to peek. If your in a relationship it should not be because of money.’ In my decades of experience I’ve seen too many tragic ends where one person has taken advantage of another because of money. In almost all those cases it was the woman who was the victim. And when the rule was broken the woman ended up with far less than when she entered the relationship. Not only did these women end up losing just about everything but some ended up owing money on bills incurred by their partner. If you want to keep the relationship and your independence don’t talk about your money. It’s just that simple. Here’s some other rules:
- You don’t buy property together until you are married.
- You keep separate financial advisors.
- Don’t co-sign other family member’s loans.
‘No Recession,’ Goldman Sachs Asset Management. Q4 2015 Report.
‘Chinese market turmoil, a Greek fiscal crisis, plunging oil prices, and the prospect of rising interest rates can put investors on guard. But we believe this year’s bouts with volatility are the sort which stir markets without shaking their foundations. Most significantly, the ongoing recovery in key developed markets, from the US to Europe, remains early to mid-cycle.’ Goldman Sachs Q4 2015 Report.
check the mirror’s name…
AMID THE WEAKNESS IN THE OVERALL S&P 500 THREE INDUSTRIES- RELATIVELY SMALL GROUPS- THAT ARE SURGING:
- Construction Materials
- Airlines
- Automobiles
These 3 industries with the largest expected earnings growth. CNBC.com 10/18/2015
MONDAY MARKETS ESSENTIALLY FLAT- OIL DOWN BIOTECHS UP. Investors note the old standby stocks slowly creeping back to pre-correction numbers. IBD reported Tehran put the world’s oil producers on notice it plans on reaching its pre-sanction production of 3.5 million barrels of oil within months of sanctions being lifted. Analysts scoffed saying at best the Iranians could get 300,000 to 400,000 barrels by the end of 2016 and a few hundred thousand barrels after. IBD 10/19
Bob Doll, CFA in his Weekly Commentary, 10/19: The rally continues but equities appear stuck in a trading range. A shift from growth to value with some areas of energy and materials assuming leadership. Retail, healthcare, equipment and services are all lagging on a relative basis.
Quick. Name the Newly Elected PM of Canada. Hint: He’s a former school teacher, liberal and has the last name of a former PM who shaped Canada for decades. His mother was a famously known first lady who loved to boogie at Studio 54. If you don’t know him I bet you even don’t know who the ousted PM was.
LOOOONG BOND? There appears to be a demand for ultra-long, high quality assets from institutional investors that match very long term liabilities.The British government has the solution by selling 50-year bonds last Tuesday. The offer was over subscribed by…a lot! The U.S. so far has turned a cold shoulder to such stuff while borrowing money at close to zero by offering short term Treasuries. The question many institutional investors are asking is why not have the U.S. borrow cheaply well into the second half of the 21st century? ‘By issuing 50 year bonds this,’ according to Randall Forsyth in Up and Down Wall Street, Barrons 10/21, ‘would be a good deal for taxpayers and their children.’ But the U.S. is reluctant to innovate even in the face of 2019 where hundreds of billions of dollars of assorted bonds will be coming due. Source Barrons.com 10/21/2015
There is a huge demand for long quality bonds from institutional investors such as pension plans, insurance companies and other governments.
Industrials are Back! For weeks the market absolutely hated industrials. They became oversold. Then big portfolio managers, in a blink of an eye, had a bullish view. This at the expense, said Jim Cramer, of what he believes is a split with health care. Industrials have gotten too cheap to ignore and the same investors now hate drug and health care stocks. CNBC.com 10/21/2015 Markets closed down on earnings.
IBD Reports Mutual Fund Capital Gains and Dividends Could Be Flat This Year. IBD 10/22/2015 This could be one of those years investors hate when they get a capital gain distribution they have to pay tax on and their fund has lost money. They scream foul but the rule is that active managed funds have to distribute their capital gains.
DOW & S&P 500 HIT 9 WEEK HIGHS. Thursday Markets rocked from the opening bell and there was no looking back. All sectors were up except healthcare! The DJIA closed over 300 points. There was surprises galore and even companies that had poor results had a little reversal. Source Reuters.com 10/22/2015
Questions call Paul @ 586 295 0430 or write him @ pstanley@westminsterfinancial.com. Share this blog with someone who cares about their money.
SECURITIES OFFERED THROUGH WESTMINSTER FINANCIAL SECURITIES, INC. MEMBER FINRA/SIPC.
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