The Prosperity People
Noteworthy News

We've scoured the internet so that you don't have to. Consider this our monthly roundup of relevant news articles to support your pursuit of prosperity.

Noteworthy News
Andy Pulsfort
You Oughta Ask with Andy Pulsfort

What are your tips and tricks for keeping medical bills in check?

Each month, Andy’s answering a question that he wishes more clients would ask him, addressing timely topics that he thinks are worthy of the spotlight.

You Oughta Ask with Andy Pulsfort

The Tariff Tiff | History Repeating Itself

The Tariff Tiff | History Repeating Itself

“History doesn’t repeat itself, but it often rhymes.” – Mark Twain

Financial crises have hit the global markets on a regular basis throughout history.  And it appears financial crises will continue to pop up at regular intervals into the future.  The first recorded speculative bubble was Tulip Mania in 1637, a period in the Dutch Golden Age during which the prices for fashionable tulip bulbs reached extraordinarily high levels only to dramatically collapse.  Today, we view stocks, bonds and commodities as our investments of choice and, as always, current events continue to cause the financial markets to fluctuate, sometimes dramatically. 

Here is a brief history of major financial crisis that have hit the globe in the past few decades.  Each time, the stock and bond markets have taken a beating.  And time and again, they bounce back to higher highs.   

Matt's Monthly Money Must Do's | July 2018

Matt's Monthly Money Must Do's | July 2018

The 4th of July seems like such an odd thing to celebrate.   We are really celebrating the most famous divorce decree ever written.  Don’t get me wrong, I love the document, but it was just a bunch of bitter guys generating a divorce decree with barely any input from the counterpart. 

From now on, I believe we should turn Independence Day into Financial Independence Day.  Start celebrating those who have hit financial milestones.

On to the To-Do’s…

Common Pitfalls of Comparing Investment Returns

Common Pitfalls of Comparing Investment Returns

I hear it all the time.  Having lunch with a friend, “My portfolio is up 15%” or from a friend at another financial firm, “Our portfolios are up 10%”.  My initial reaction is to do a quick back of the napkin comparison.  Reality sets in and I start asking questions to better understand what they are talking about.  What I realize is they are quoting raw returns.  The raw return is the return over a past time period (such as 6 months, 1 year, etc.), without adjusting for risk.   Looking at only the raw return can twist your perceptions about how your portfolio is performing and lead you to bad choices – i.e. taking on more risk or flip-flopping from one investment strategy to another. 

Kentucky Tax Update | 2018

Kentucky Tax Update | 2018

On April 13, 2018, Kentucky legislation passed a new tax bill into law. Instead of reading the thousands of pages of the new tax law, which I know many of you enjoy dearly, I thought a summary of some of the main highlights would be useful. This does not include every single change in the tax law and is only intended to summarize the changes that will have a wider impact.

1st Quarter Economic Update | May 2018

1st Quarter Economic Update | May 2018

Our economic indicators continue to run positive for the first quarter of 2018.  Consumer spending, business investments and residential fixed investments rose at a 4.6% annual rate.  Gross Domestic Product (GDP), a broad measure of the nation’s overall economic activity has shown consistent growth over the past three quarters; up 3.2% in 2017’s 3rd quarter, 2.9% in the 4th quarter and 2% in the 1st quarter of 2018.

While the economic news is positive, there is now a concern the economy is potential overheating.  The period of easy money has come to an end.  The Fed is raising interest rates, albeit slowly.  However, there are growing employment pressures which have impelled economists and market watchers to voice concern over the potential for rapid inflation.   In addition to this, global trade rhetoric and the risk of political gridlock, have marked the return of stock market volatility.

The Eurozone economy finished 2017 with a bang showing growth at the fastest pace since 2007.  Year-over-year, GDP in the region grew at a 2.6% pace with Germany and Italy having picked up the pace.  The German economy rose 0.8% on the quarter while France, the 2nd largest economy, and Italy both grew at 0.5% on the quarter and 2.2% annualized.  However, the economic machine has throttled back to neutral.  The tariff debate and other political concerns are primarily to blame.  Whether or not this is a passing condition remains to be seen.

Rediscover the Simple Things in Life

Rediscover the Simple Things in Life

Sometimes keeping up with the Jones’ can be exhausting.  It is human nature to often fall into the same traps as our friends and neighbors.  If they go on exotic vacations, I must go on an exotic vacation.  If they join the country club down the street, I must join.  Truth is there are many kinds of fun that don’t cost money–a lot of the things that people did years ago before the advent of 3D movies, gourmet restaurants, traveling soccer teams and endless consumerism.

Matt's Money Must-Do's | April 2018

Matt's Money Must-Do's | April 2018

April is Financial Literacy month in the United States.  In 2003, Congress finally supported the idea of financial literacy month.  Because it was officially recognized by Congress, a big push was made from various non-profits and government agencies (National Financial Educators Council, Financial Literacy and Education Commission, and National Endowment for Financial Education) generated tools and courses for families to utilize to improve your financial situation.