Ellis Financial Group

Stocks mixed, but retain most of first quarter’s gains

May 7th, 2012

Stocks dipped in the first part of April and then recovered somewhat, as strong corporate earnings contended with weaker than expected economic growth in the U.S. and the resumption of negative news from Europe. After advancing for six months straight, the Dow Jones Industrial Average eked out a tiny gain for April, although other major averages were down slightly. Repeating its pattern of the last two years, the market has paused after a strong rally (the S&P 500’s 12% gain in the first quarter of 2012 was its best in more than 10 years) as investors await clues as to the strength of the economy and the sustainability of corporate profits.

The major averages varied only slightly from where they finished the first quarter, as shown in the table below.

	3/30/12 Close	4/30/12 Close	Change	Gain/Loss
DJIA	13,212.04	13,213.63	+1.59	+0.01%
NASDAQ	3,091.57	3,046.36	-45.21	-1.46%
S&P 500	1,408.47	1,397.91	-10.56	-0.75%

According to the initial report from the Commerce Department, U.S. gross domestic product grew by 2.2% in the first quarter, less than many economists had expected. However, the advance quarterly reports are revised – sometimes significantly – before the final figure is computed, meaning that no firm conclusions can be drawn as yet as to the economy’s future strength. Consumer spending, which accounts for about 70% of GDP, rose more than anticipated in the first quarter, helped by mild weather and a surge in motor vehicle sales. However, consumer spending has outpaced disposable income by a wide margin over the last few quarters, suggesting the recent pace will be difficult to sustain. In fact, personal spending slowed in March, rising 0.3%, the Commerce Department said, just under the 0.4% growth forecast by economists in a Dow Jones Newswires poll.

Earnings season is in full swing, and so far, the news has been generally good. Of the 300 companies in the S&P 500 that have reported first-quarter earnings, some 70% have beaten analysts’ estimates, according to S&P Capital IQ. Profit margins also seem to be holding up.

Overseas, concerns grew about weakness in Spain’s economy, which contracted for the second consecutive quarter – the technical definition of a recession. The credit ratings of Spanish banks were downgraded Monday, and Standard & Poor’s lowered Spain’s debt rating by two notches last week. Fears that weakness in the Eurozone could spill over to the U.S. helped derail the market’s advance in 2010 and 2011, so investors are watching this area closely.

Going forward, the April jobs report – due out Friday, May 4 – will give some indication as to the direction of employment growth, which is crucial to the continuation of consumer spending. The weeks ahead also will provide a clearer indication as to whether corporate profits, a key driver of stock prices, will remain robust.

After rising roughly 25% since last October, stocks have reached levels well ahead of what many market analysts had predicted. While that alone may not be a reason to make any changes in your portfolio, it’s also a situation that bears watching. If you’d like to discuss that – or have any other questions or concerns – please give us a call.

Investing involves risk, and investors may incur a profit or a loss. Past performance is not an indication of future results. Investors cannot invest directly in an index. The Dow Jones Industrial Average is an unmanaged index of 30 widely held stocks. The NASDAQ Composite Index is an unmanaged index of all common stocks listed on the NASDAQ National Stock Market. The S&P 500 is an unmanaged index of 500 widely held stocks. The performance noted does not include fees or charges, which would reduce an investor’s returns.

Compliance approval M12-1588

Tags: 2012, Market Outlook, Professionally Speaking, Raymond James
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The Long-Term Care Dilemma: Insurers Leaving, Premiums Increasing

April 6th, 2012

If you’ve planned for long-term care, you’ve done well because there’s a pretty good chance you or your spouse will have a need for care at some point. According to the National Clearinghouse for Long-Term Care (www.longtermcare.gov), about 70% of people over age 65 will need some type of long-term care during their lifetimes and more than 40% will require care in a nursing home. According to the National Clearinghouse, in 2010 it cost an average of $75,000 per year for a semiprivate room in a nursing home, while one year of care at home costs about $19,700 per year.

You may have bought long-term care insurance (LTCI) to help cover the potential costs of long-term care. The Life Insurance and Market Research Association (LIMRA) estimates that over 7 million Americans have LTCI. However, the U.S. Census Bureau estimates that in 2010 there were over 40 million Americans age 65 and older. So only a small percentage of those who face the increasing prospect of long-term care have LTCI.

Companies leaving the business

In spite of the apparent need for LTCI, some of the largest providers of individual LTCI have either stopped selling individual LTCI or they’re planning to do so (although some of these carriers will remain in the group LTCI market).

So if the need for LTCI remains, why are some of the biggest insurers getting out of the individual LTCI market? There are a number of reasons, such as poor investment returns due to the chronic low interest rate environment, the fact that more policyowners are keeping their insurance instead of letting it lapse, the rising cost of long-term care, and the fact that people are living longer, leading to larger LTCI payouts.

If your LTCI carrier is getting out of the LTCI business, don’t worry–you’re still covered. Generally, insurers that leave the LTCI market must either continue to service existing policies or transfer that responsibility to another carrier.

Your LTCI premiums may increase

If you purchased your LTCI policy more than a few years ago, you could be in for a surprise when you get your next premium bill. Several states have allowed insurers to increase their premiums. If your premium does increase significantly, you may be faced with a dilemma: do you keep the insurance and pay the higher premium, or should you stop paying for the insurance altogether and lose not only the insurance coverage, but also all the prior premiums you paid? Here are some alternatives to consider:

Shorten the length of your insurance coverage. For example, if you have lifetime coverage, decrease it to 3 or 5 years. The National Clearinghouse estimates women need care on average for 3.7 years, while men need care for about 2.2 years.
Drop or change your inflation protection. This provision can almost double your premium in some cases. Depending on how long you’ve had your policy, your daily benefit might have increased enough over time to allow you to lower the inflation protection from say 5% compound to 3% simple interest (and lower the cost for that protection), or you might even be able to drop the inflation coverage completely.
Consider replacing a current costly policy with a new one. Even though you are older, you may find that today’s carriers offer policies with fewer “bells and whistles” and at a lower average cost. Also, some insurers now offer life insurance or annuities that also provide long-term care benefits. For example, many life insurers allow you to accelerate a portion or all of your death benefit to provide a monthly payment that you can use for long-term care expenses (although there may be an additional cost for this provision).

Compliance: 2012-003996

Written by Broadridge Forfield

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There’s Still Time to Contribute to an IRA for 2011

April 2nd, 2012

There’s still time to make a regular IRA contribution for 2011! You have until your tax return due date (not including extensions) to contribute up to $5,000 for 2011 ($6,000 if you were age 50 by December 31, 2011). For most taxpayers, the contribution deadline for 2011 is April 17, 2012. Normally, your tax return must be filed by April 15. However, the IRS has extended the deadline to April 17 this year because April 15 is a Sunday, and April 16 is a holiday in Washington D.C. (Emancipation Day).

You can contribute to a traditional IRA, a Roth IRA, or both, as long as your total contributions don’t exceed the annual limit. You may also be able to contribute to an IRA for your spouse for 2011, even if your spouse didn’t have any 2011 income.

Traditional IRA

You can contribute to a traditional IRA for 2011 if you had taxable compensation and you were not age 70½ by December 31, 2011. However, if you or your spouse was covered by an employer-sponsored retirement plan in 2011, then your ability to deduct your contributions depends on your filing status and whether your modified adjusted gross income (MAGI) is within prescribed limits (see chart below). Even if you can’t deduct your traditional IRA contribution, you can always make nondeductible (after-tax) contributions to a traditional IRA, regardless of your income level. However, in most cases, if you’re eligible, you’ll be better off contributing to a Roth IRA instead of making nondeductible contributions to a traditional IRA.

2011 income phaseout ranges for determining deductibility of traditional IRA contributions:
1. Covered by an employer-sponsored plan and filing as:
Single/Head of household	$56,000 – $66,000
Married filing jointly	$90,000 – $110,000
Married filing separately	$0 – $10,000
2. Not covered by an employer-sponsored retirement plan, but filing joint return with a spouse who is covered by a plan	$169,000 – $179,000

Roth IRA

You can contribute to a Roth IRA if your MAGI is within certain dollar limits (even if you’re 70½ or older). For 2011, if you file your federal tax return as single or head of household, you can make a full Roth contribution if your income is $107,000 or less. Your maximum contribution is phased out if your income is between $107,000 and $122,000, and you can’t contribute at all if your income is $122,000 or more. Similarly, if you’re married and file a joint federal tax return, you can make a full Roth contribution if your income is $169,000 or less. Your contribution is phased out if your income is between $169,000 and $179,000, and you can’t contribute at all if your income is $179,000 or more. And if you’re married filing separately, your contribution phases out with any income over $0, and you can’t contribute at all if your income is $10,000 or more.

Even if you can’t make an annual contribution to a Roth IRA because of the income limits, there’s an easy workaround. If you haven’t yet reached age 70½, you can simply make a nondeductible contribution to a traditional IRA, and then immediately convert that traditional IRA to a Roth IRA. (Keep in mind, however, that you’ll need to aggregate all traditional IRAs and SEP/SIMPLE IRAs you own (other than IRAs you’ve inherited) when you calculate the taxable portion of your conversion.)

Finally, keep in mind that if you make a contribution to a Roth IRA for 2011–no matter how small–by your tax return due date, and this is your first Roth IRA contribution, your five-year holding period for identifying qualified distributions from all your Roth IRAs (other than inherited accounts) will start on January 1, 2011.

Tracking #: 2012-003084

Tags: 2011, IRA, Tax Planning, Tax Related
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Stocks continue gains with Dow closing above 13,000

March 5th, 2012

Stocks continued their gains in February with the Dow Jones Industrial Average closing above the psychologically important level of 13,000 on February 28^th – the first time since May 20, 2008. The Dow slipped below the milestone on Leap Day, but still increased 2.53% for the month to close at 12,952.10. Broader averages followed suit, with the tech-heavy Nasdaq hitting 3,000 for the first time since December 2000 and increasing 5.44% during the month. The S&P 500 also advanced 4.06%.

	2/29/2012 Close	1/31/2012 Close	Change	Gain
DJIA	12,952.10	12,632.91	319.19	2.53%
NASDAQ	2,966.89	2,813.84	153.05	5.44%
S&P 500	1,365.68	1,312.41	53.27	4.06%

Since October 2011, investor confidence has risen alongside strengthening corporate profits and improvements in leading economic indicators — including jobless claims and the Institute for Supply Management (ISM) index. According to the Conference Board its consumer confidence index rose to 70.8 in February, well above the January reading of 61.5.

Contrary to positive sentiment, orders for durable goods in January declined by almost 4% to $206 billion, according to the Commerce Department — the biggest drop since January 2009. In addition, the Standard & Poor’s Case-Shiller Home Price Index cast new doubt on the housing market. The national composite for housing prices declined 3.8% during the fourth quarter of 2011 and 4.0% versus the fourth quarter of 2010.

On the European front, the 130 billion euro ($174 billion) second bailout package for Greece was finally approved. While the outcome for Greece and whether or not it will eventually default remains uncertain, the package is perceived to have more benefit than risk and will require the country to cut 3.2 billion euro from its budget. Today, the European Central Bank launched its second three-year long-term-refinancing operation to further ease balance sheet pressure. Banks are expected to take another 530 billion euros ($713 billion) in addition to the 500 billion euros borrowed in December.

With the Dow hitting 13,000 and the likes of Apple trading at a record high, investors want to know if stocks can move higher. While no one knows, historical comparisons are sometimes informative. Let’s look at the S&P 500 in 2011. The average started the year with similar momentum and peaked in April at 1,337 (more than a 6% increase). By the end of 2011, the S&P was down 1.1% after a fairly volatile late summer run. That said, stocks are trading at a 14% discount to their average price-earnings ratio over the past five decades, according to Bloomberg calculations, and equities certainly look appealing. Against this, of course, are fears about possible contagion from ongoing problems in the Eurozone, the U.S. budget deficit, rising energy prices and the ripple effects of a China slowdown. As always, only time will tell.

While a development like the Dow reaching the 13,000-level is welcome, investors should remain watchful of the many issues that generated volatility in 2011 and the newly mounting concerns like China that may tip the scale further. A carefully considered long-term strategy is the key. If you have any questions or concerns about your portfolio holdings, or your overall financial plan, please call us.

Tags: 2012, DOW, Market Outlook, S&P 500, trends
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Stocks Post Strongest January Since 1997

February 9th, 2012

Stocks staged their strongest January advance in 15 years despite absorbing negative news on the month’s last day of trading. Although the broad averages were little changed Tuesday, the S&P 500 has now rallied more than 200 points since its low point last October as investors have gained confidence in the domestic economy’s halting but nonetheless upward path.

Broad market averages had been well ahead early in the session after members of the European Union agreed to move closer to fiscal union and also approved a permanent bailout fund for the Eurozone. In addition, negotiations between Greece and its private creditors over a debt restructuring appeared to be moving toward an agreement. However, investors turned cautious after the Conference Board said its index of consumer confidence declined to 61.1 in January from a revised 64.8 in December. The new level was well below the 68.0 reading generally expected by economists. Adding to concerns was news that U.S. home prices fell again in November, according to the Standard & Poor’s Case-Shiller home-price indexes.

Despite a mixed session at month’s end (the Dow Jones Industrials declined 20.81, or 0.16%; the S&P 500 fell 0.61, or 0.05%; and the Nasdaq advanced 1.90, or 0.07%. equities finished January with robust gains.

	1/31/12 Close	12/30/11 Close	Change	Gain/Loss
DJIA	12,632.90	12,217.56	+415.34	+3.40%
NASDAQ	2,813.84	2,605.15	+208.69	+8.01%
S&P 500	1,312.40	1,257.60	+54.80	+4.36%

Shareholders were upbeat last week when the Federal Reserve Board said it planned to keep short-term interest rates at exceptionally low levels “at least through late 2014” and also signaled that the central bank may restart a bond-buying program meant to push down long-term rates. The Fed previously had said short-term rates would stay near zero at least until mid-2013. The Fed also adopted a specific inflation target – a 2.0% annual rate in the PCE Price Index, which is similar to the CPI, but adjusts for changing patterns of consumption – and reaffirmed its dual mandate of controlling prices while also achieving maximum sustainable employment. Fed officials have indicated that they believe the appropriate unemployment rate target is currently between 5.2% and 6.0% – higher than it was before the financial crisis.

The behavior of equities in January is closely monitored by market watchers seeking indications of how stocks will perform for the full year. However, a first-month rally does not always hold the promise of later gains. Last year, for example, the S&P 500 advanced more than 2% in January but finished 2011 essentially unchanged.

While a strong start to the year is certainly welcome, investors must remain vigilant as 2012 unfolds since many of the issues that generated volatility last year remain unresolved. As always, a carefully considered long-term strategy is the key. Please feel free to contact us with questions or concerns about your financial plan.

Investing involves risk, and investors may incur a profit or a loss. Past performance is not an indication of future results. Investors cannot invest directly in an index. The Dow Jones Industrial Average is an unmanaged index of 30 widely held stocks. The NASDAQ Composite Index is an unmanaged index of all common stocks listed on the NASDAQ National Stock Market. The S&P 500 is an unmanaged index of 500 widely held stocks. International investing involves additional risks such as currency fluctuations, differing financial accounting standards, and possible political and economic instability.

(Compliance approval M12-0828)

Tags: 2012, Interest Rates, january, markets, S&P 500
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Keeping Client Trust is First and Foremost at Raymond James

December 15th, 2011

By now you’ve heard of the collapse of MF Global Holdings Ltd. and its finance subsidiary MF Global Finance USA Inc. At present, the company and its executives, including former New Jersey Governor Jon Corzine, are being questioned by officials as to why the firm failed to keep customer money separate – as required by law – from company money used in failed investments in the euro-zone. The firm’s business model has also come under scrutiny.

Rest assured Raymond James is aware that public trust and confidence in our industry is one of the most significant concerns we face. That is why Raymond James operates a far more conservative business model; unlike many of the other firms that have incurred the kinds of problems that result in client distrust and ultimately business failure.

As a firm that celebrates financial pragmatism and prudent business practices, Raymond James has delivered 95 consecutive quarters of profitability. Raymond James has chosen not to be in the commodities business directly because it does not want to expose clients to the inherent risk and the potential for loss. And Raymond James does not put the stability of the firm at risk by incorporating high degrees of leverage on its balance sheet in order to enhance shareholder return, a practice that saw the company through the financial crisis of 2008 without having to take a bailout or lay off employees. Yes, Raymond James’ goal is to be profitable – but not at the peril of its business, investors or clients.

Raymond James is equally dedicated to high principles of honesty and business ethics. That means it meticulously adheres to SEC rule 15c3-3 that was put in place to protect clients and their funds from financial misfortune. In fact, in March 2011, in a survey that involved 673 companies from 32 countries, Fortune magazine ranked Raymond James Financial the fourth most admired securities company in the world because of its quality of management, products, services and social responsibility.

Our business and personal reputation rest confidently having a company like Raymond James behind us. And it is a confidence we do not bestow lightheartedly. The firm’s unwavering commitment to its founding core values of putting clients first, conservatism, independence and integrity is demonstrated each and every day. And we have the utmost confidence Raymond James will be as committed to protecting client trust in the future as it is today.

If you have any further questions concerning the stability of Raymond James or would like to discuss the many other issues facing investors today, please don’t hesitate to contact us.

Compliance approval M12-0435

Tags: 2011, Raymond James
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Year End Tax Planning: 10 Things to Keep in Mind

November 23rd, 2011

The window of opportunity for many tax-saving moves closes on December 31. So set aside some time to evaluate your tax situation now, while there’s still time to affect your bottom line for the current tax year. With that in mind, here are 10 things to consider as the curtain closes on 2011.
1. Deferring income to 2012 means postponing taxes

Consider opportunities you might have to defer income to 2012. You might be able to delay a year-end bonus, for example. If you’re able to push what would have been 2011 income into 2012, you may be able to put off paying income tax on the deferred dollars until next year.

2. Paying deductible expenses sooner may help you in 2011

Does it make sense for you to accelerate deductions into 2011? If you itemize deductions, it might help your 2011 bottom line to pay deductible expenses like medical costs, qualifying interest, and state and local taxes before the end of the year, instead of waiting until 2012.

3. Income tax rates to remain the same in 2012

The same six federal income tax rates that apply in 2011 will apply in 2012. So, depending upon your income, you’ll fall into either the 10%, 15%, 25%, 28%, 33%, or 35% rate bracket. And, as in 2011, long-term capital gains and qualifying dividends will continue to be taxed at a maximum rate of 15% in 2012; and if you’re in the 10% or 15% tax rate brackets, a special 0% tax rate will generally continue to apply.

4. Is AMT a factor?

If you’re subject to the alternative minimum tax (AMT), special rules apply. For example, the AMT rules can effectively disallow a number of itemized deductions, making it a potentially significant consideration when it comes to year-end planning. You’re more likely to be subject to AMT if you claim a large number of personal exemptions, deductible medical expenses, state and local taxes, and miscellaneous itemized deductions. If you’ve been subject to the AMT in the past, or think that you might be for 2011, you’ll want to make sure that you understand how the AMT rules might affect you.

5. IRA and retirement plan contributions

Employer-sponsored retirement plans like 401(k) plans and traditional IRAs (if you qualify to make deductible contributions) present an opportunity to contribute funds on a pre-tax basis, reducing your 2011 taxable income. Contributions that you make to a Roth IRA (assuming you meet the income requirements) aren’t deductible, so there’s no tax benefit for 2011–they’re still worth considering, though, because qualified distributions are free from federal income tax. The window to make 2011 contributions to your employer plan closes at the end of the year, but you can generally make 2011 contributions to your IRA up to April 17, 2012.

6. Special distribution requirements at age 70½

Once you reach age 70½, you’re generally required to start taking required minimum distributions (RMDs) from any traditional IRAs or employer-sponsored retirement plans you own. It’s important to make withdrawals by the date required–the end of the year for most individuals. The penalty is steep for failing to do so: 50% of the amount that should have been distributed. Barring additional legislation, 2011 will be the last year to take advantage of a popular provision allowing individuals age 70½ or older to make qualified charitable distributions of up to $100,000 from an IRA directly to a qualified charity (these charitable distributions are excluded from your income, and count toward satisfying any RMDs that you would otherwise have to take from your IRA for 2011).

7. Depreciation and expense limits to drop for business owners and the self-employed

If you’re a small business owner or a self-employed individual, you’re allowed a first-year depreciation deduction of 100% of the cost of qualifying property acquired and placed in service during 2011; this “bonus” first-year additional depreciation deduction will drop to 50% for property acquired and placed in service during 2012. For 2011, the maximum amount that can be expensed under IRC Section 179 is $500,000, but in 2012 the limit will drop to $139,000.

8. Last chance to deduct energy-efficient home improvements

This is the last year you’ll be able to claim a credit for energy-efficient improvements you make to your home (up to 10% of the cost of qualifying property). Improvements can include a qualifying roof, windows, skylights, exterior doors, and insulation materials. Specific credit amounts may also be available for the purchase of energy-efficient furnaces and hot water boilers. However, there’s a lifetime credit cap of $500 ($200 for windows). So, if you’ve claimed the credit in the past–in one or more years since 2005–you’re only entitled to the difference between the current cap and the amount you’ve claimed in the past.

9. Other expiring provisions

Barring additional legislation, this is the last year that you’ll be able to elect to deduct state and local general sales tax in lieu of state and local income tax, if you itemize deductions. This also will be the last year for both the above-the-line deduction for qualified higher education expenses, and the above-the-line deduction for up to $250 of out-of-pocket classroom expenses paid by education professionals.

10. Get help

Making effective year-end moves requires a solid understanding of the rules that are in effect for both 2011 and 2012. It also requires a comprehensive grasp of your overall financial situation. A financial professional can help you evaluate potential opportunities, and can keep you apprised of any last-minute legislative changes.

Approved Re:FX2011-1118-903/E

Tags: 2011, AMT, business owners, Contributions, deductions, income tax, IRA, self-employed, Tax Planning, Tax Related
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College Board Releases New College Cost Figures

November 18th, 2011

College Cost Trends

Every October, the College Board releases its Trends in College Pricing report that highlights college cost increases for the current academic year and trends in the world of higher education. While costs can vary significantly by region and individual college, the College Board publishes average cost figures, which are based on its survey of 3,500 colleges across the country.

To read the Trends in College Pricing 2011 report, visit www.collegeboard.com/trends.

Note that the “total average cost” figure includes tuition and fees, room and board, books and supplies, transportation, and a small amount for miscellaneous expenses. This figure is often referred to as the “cost of attendance.”

Public colleges (in-state students)

Tuition and fees increased an average of 8.3% from last year to $8,244
Room-and-board costs increased an average of 4.0% to $8,887
Total average cost for 2011/2012 is $21,447

Public colleges (out-of-state students)

Tuition and fees increased an average of 5.7% from last year to $20,770
Room-and-board costs increased an average 4.0% to $8,887
Total average cost for 2011/2012 is $33,973

Private colleges

Tuition and fees increased an average of 4.5% from last year to $28,500
Room-and-board costs increased an average of 3.9% to $10,089
Total average cost for the 2011/2012 year is $42,224

Student Aid Trends

The College Board also publishes an accompanying report every October called Trends in Student Aid that examines financial aid in more detail. To read the report, visit www.collegeboard.com/trends.

The College Board noted that last year, approximately 46% of all grant aid came from the federal government, 36% came from colleges, 9% came from state governments, and about 9% came from employers and other private sources. Grant aid is the most desirable type of financial aid because it doesn’t need to be paid back.

Source Broadridge Forefield. Compliance tracking number 2011-007935

Tags: 2011, College Expenses, College Savings, Education, Student Financial Aid, trends, tuition
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Social Security Increases Benefits by 3.6%

November 10th, 2011

For the first time since 2009, the Social Security Administration announced a cost of living adjustment (COLA) to recipients’ monthly Social Security and Supplemental Security Income (SSI) benefits. More than 60 million Americans will see the 3.6% increase in their payments by January 2012. The increase was put in place to ensure the purchasing power of these benefits isn’t eroded by inflation and is tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers.

This is good news for many, but I wanted you to be aware of another change, as well. Starting next year, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase from $106,800 to $110,100. Of the estimated 161 million workers who will pay Social Security taxes in 2012, about 10 million will pay higher taxes as a result of the increase in the taxable maximum.

Keep in mind, as of May 2011, new recipients of federal benefits – including Social Security retirement benefits – are required to establish direct deposit to receive their payments electronically; physical checks will no longer be issued. In addition, beginning March 2013, all federal benefits – new and existing – will require direct deposit. So if you’re already receiving benefits by this date, you will need to establish electronic transfers to your bank or financial institution. I’m happy to help you set up a cash management solution that will satisfy the new direct deposit requirements.

You may also like to know that we’re now in the annual open enrollment period for Medicare that happens each fall. This year, you have until December 7 to review your benefit choices and costs and elect new coverage, if you need to make changes. Please take the time to go over these important options. If you haven’t yet enrolled in Medicare, keep in mind you must do so within the seven-month period around your 65^th birthday. Please contact me if you have any questions or need assistance; I’m available to help.

Compliance approval M12-0202

Tags: 2012, Medicare, Social Security
Posted in Consumer Alerts, New Regulations | Comments Off

Listen for the Silence As the Nation Remembers 9/11

September 9th, 2011

At 8:46 a.m. on Sunday, September 11, the crowd in Lower Manhattan will fall silent. Seventeen minutes later, another silence. Images of the burning north tower of the World Trade Center may linger in the mind as the second silence reminds those at Ground Zero of the moment the second aircraft sliced into the south tower. Two more moments of silence during New York’s remembrance ceremonies will mark the horrific collapse of the two towers on that Tuesday morning a decade ago.

The national tragedy of 9/11 – it is remarkable how a simple date abbreviation has become a historic symbol that can call forth powerful emotions – will be recalled elsewhere, too. At the western side of the Pentagon in Arlington County, Virginia, at the spot where Flight 77 hit at 9:37 a.m., visitors will remember as they visit the National 9/11 Pentagon Memorial, which was dedicated on September 11, 2008.

And in southwestern Pennsylvania, the Flight 93 National Memorial is taking shape on hallowed ground where at 10:03 a.m. 40 passengers and crew lost their lives in an open field after thwarting terrorist plans to crash the hijacked aircraft into a building in Washington, D.C. On September 10, Phase I of the memorial will be dedicated and that evening volunteers will set out 2,982 luminarias, one for each life lost in those 9/11 attacks.

Each of us has private memories of that day 10 years ago. We tend to remember where we were, what we heard first, and how difficult it was to make sense of what had happened to the mostly civilian men and women who had merely gone to work that day or boarded a plane, expecting to take a business trip or enjoy a vacation.

At 1 p.m. Sunday afternoon (Eastern Time), there will be a national Moment of Remembrance. A Senate resolution asks us to stop work and other activity for just one minute to remember the totality of 9/11/2001. It is just one small gesture in honor of those who perished or whose lives were forever altered by the attacks.

We wanted to share these thoughts with you as the nation honors those we lost.

Compliance: M11-1810

Tags: Honor, Remembering 9/11, Symbols
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