for the WEALTH of it!

We start early and stay late.

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Partners Wealth Weekly Report: Obama’s State of the Union and More

President Obama called for a +24% increase in the federal minimum wage during his State of the Union address.  The proposal would take the current level from $7.25 an hour to $9 an hour by the end of 2015.  The president’s recommendation stirred emotions from hourly workers nationwide of the daily struggles of living on a minimum wage.  Small business owners countered that complaint with the reality that when you add to the $9 hourly wage the various benefits that are either legally required (e.g., Social Security) or are provided to attract and retain workers (e.g., retirement plans and paid leave), the total cost per employee reaches $13 per hour (source: Department of Labor). 

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The countdown to the next debt ceiling debate sits at 3 months as of today.  The legislation signed by President Obama on 2/04/13 temporarily suspended the imposition of a debt ceiling limit until 5/19/13, at which point the debt ceiling will be reinstated at the actual amount of national debt outstanding as of that date.  Last week’s report that the government had produced a $2.8 billion surplus in January 2013, its 3rd surplus month in just the last 10 months, was welcomed news.  In the previous 3 ½ years, Uncle Sam did not have a single surplus month (source: Treasury Department).        

The possibility of currency manipulation was on the minds of the finance ministers that met last week in Moscow.  The question of currency devaluation has always been viewed through the prism of one’s own self-interest.  When the US Federal Reserve embarked on a 4+ year program of “quantitative easing” in November 2008 designed to lower interest rates domestically, the weakening of the dollar was seen as just a side effect.  However when Japan’s central bank implements a similar policy, Americans bark that Japanese exporters are the recipients of an unfair trade advantage (source: BTN Research).       

Notable Numbers for the Week:

1NOT BEHIND IT - Only 44% of Americans believe that our country has benefited from the free trade agreements that the USA has implemented with foreign countries (source: Hamilton Place Strategies). 

2WHO BENEFITS? - 19% of Americans (60.4 million in total) receive a monthly benefit check from the Social Security Administration (source: SSA). 

3SNIDELY WHIPLASH - US banks repossessed 50,572 homes in January 2013, an average of 1,632 homes per day.  The 50,572 in lost homes was the lowest monthly total in the country since February 2008.  87,648 homes were seized by banks 3 years ago in January 2010 (source: RealtyTrac). 

4.  RECESSION STAT - The United States has been in a recession only 34 months in the last 30 years (source: National Bureau of Economic Research). 

 *Partners Wealth Management, Inc. (PWM) is an independent wealth management firm dedicated to serving affluent clients by providing comprehensive, integrated planning and investment services. We act as advocates on behalf of individuals, families, and businesses who require highly specialized financial and advisory services.   LEARN MORE>

This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties.  Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Past performance does not guarantee future results.  The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.  Copyright © 2013 Michael A. Higley.  All rights reserved.

*Securities and Investment Advisory Services offered through NFP Securities, Inc. a Broker/Dealer, Member FINRA/SIPC and Federally Registered Investment Advisor. Partners Wealth Management is an affiliate of National Financial Partners Corp., the parent company of NFP Securities, Inc.

Filed under Partners wealth management Obama State of the Union Recession stats

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fastcompany:

Some energizing tips for you world-changers out there: 10 Resolutions for Social Entrepreneurs in 2013
1. Talk to your users.
2. Look upstream.“If you can solve the problem that’s causing the problem, you’ll be two steps ahead.”
3. Evaluate. Get feedback. 
4. Commit to impact, not the project. “You need to focus on the impact of your work… do what you must to serve the greater good.”
5. Embed and Affiliate. “The most successful among us embrace our connections to complementary ventures.”
6. Take care of yourself. 
7. Connect to where you live.
8. Volunteer. ”…your commitment to others will connect you to the world in surprising ways.”
9. Take a risk. ”Walk into the unknown and trust that the pathway will appear. You never know unless you try.”
10. Invent something. ”The world moves ahead when people create new things.”
Here are some of the social entrepreneurs that Fast Company is talking about:
Blake Mycoskie, CEO of Tom’s Shoes, the shoe brand famous for its one-for-one business model that gives away a pair of shoes for each pair purchased. 
Kjerstin Erickson, founder of FORGE, a non-profit that encourages entrepreneurship among African refugees. 
Don Harris, founder of the Nehemiah Corporation, a non-profit that provides down-payment assistance to new potential home owners. 
Ben Lyon, founder of micro-financing non-profit FrontlineSMS:Credit
Nancy Carstedt, Executive Director of the Chicago Children’s Choir 
Want more? Here’s 7 Young Entrepreneurs Changing the World with their Businesses.
Use the hash tag to #SocEnt2013 to add your own social entrepreneurship resolutions for 2013.
[Image: Lights by Shuttershock][Posted by M. Cecelia Bittner}

fastcompany:

Some energizing tips for you world-changers out there: 10 Resolutions for Social Entrepreneurs in 2013

1. Talk to your users.

2. Look upstream.“If you can solve the problem that’s causing the problem, you’ll be two steps ahead.”

3. Evaluate. Get feedback. 

4. Commit to impact, not the project. “You need to focus on the impact of your work… do what you must to serve the greater good.”

5. Embed and Affiliate. “The most successful among us embrace our connections to complementary ventures.”

6. Take care of yourself. 

7. Connect to where you live.

8. Volunteer. ”…your commitment to others will connect you to the world in surprising ways.”

9. Take a risk. ”Walk into the unknown and trust that the pathway will appear. You never know unless you try.”

10. Invent something. ”The world moves ahead when people create new things.”

Here are some of the social entrepreneurs that Fast Company is talking about:

  • Blake Mycoskie, CEO of Tom’s Shoes, the shoe brand famous for its one-for-one business model that gives away a pair of shoes for each pair purchased. 
  • Kjerstin Erickson, founder of FORGE, a non-profit that encourages entrepreneurship among African refugees. 
  • Don Harris, founder of the Nehemiah Corporation, a non-profit that provides down-payment assistance to new potential home owners. 
  • Ben Lyon, founder of micro-financing non-profit FrontlineSMS:Credit
  • Nancy Carstedt, Executive Director of the Chicago Children’s Choir 

Want more? Here’s 7 Young Entrepreneurs Changing the World with their Businesses.

Use the hash tag to #SocEnt2013 to add your own social entrepreneurship resolutions for 2013.

[Image: Lights by Shuttershock][Posted by M. Cecelia Bittner}

35 notes

nasdaq:


This morning’s leadership advice is courtesy of G.J. Hart, executive chairman, C.E.O. and president of California Pizza Kitchen. Check out all of Hart’s wisdom over at the New York Times’ Corner Office series, here. 

nasdaq:

This morning’s leadership advice is courtesy of G.J. Hart, executive chairman, C.E.O. and president of California Pizza Kitchen. Check out all of Hart’s wisdom over at the New York Times’ Corner Office series, here