Weekly Market Review
Michael Acho
Guardian of the Wealth of the Most Productive People on Earth | Creating, Protecting and Distributing Wealth for Clients
?Good afternoon,
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Hey, looks like you’ve spilled some snew on your shirt?
Snew? What’s snew?
Not much, what’s new with you?
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The only new stuff these days is simply old stuff recycled. I haven’t seen anything recently that is interesting or compelling which I haven’t seen before in some way, shape or form. We’ll briefly tackle a few of them today. Briefly, because that’s really about all the attention they deserve.
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First up, social security. Again.
?Social Security is a perpetual WMR topic of interest, if only because it affects pretty much everyone.
OMG! IF WE DON’T DO SOMETHING SS WILL RUN OUT OF MONEY!!
Is the same story that comes out every year. And here is this year’s version.
According to the article, SS will begin to run short in 2035. Which is one year later than previous estimates.
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Here is the official Social Security trustees report for 2024. And the news is consistent with what it’s been for the last decade or so. Unless they make some changes, the social security administration will have to reduce payments by about 20-25% or so beginning in 2034 or 2035. #mathwins.
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Without going into my full social security presentation, yes I have one, I contend that SS is not going away. There are several ways to fix the problem, which congress must eventually consider. For the time being, most clients simply want to know “when should I start it and how much will I get?” I can help you with that question. If you’re getting it now you will continue to receive it and I will wager that your benefits will not be reduced. Ditto if you’re close to getting it. If you’re farther away, say currently in your 20s, 30s, even 40s, you’ll still get it, but it may look a little different. And finally, SS was never designed to be your only, or even primary, source of retirement income. Therefore, it won’t be enough. Where will you get the rest of the money you’ll need? Call me and let’s find out.
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Next up, how do you feel?
?Are you living the dream?
This article says that only 4% of retirees are doing that. Hmmm, I wonder why the majority are not?
An equal and opposing 4% say they’re living a nightmare. That’s too bad.
Not surprisingly, money, or more precisely retirement income, plays a role in both outcomes of the study. Call me for your retirement analysis so you can live your dream.
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Speaking of dreams Mike, do you dream at night?
Me? Nah, I sleep like a baby. I wake up every 2 hours and cry for 20 minutes.
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And finally, certain areas of the economy are showing some weakness, which is nothing new.
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For example, Red Lobster is in hot water. Get it?
They’re closing 99 stores.
Soi much for all you can eat shrimp in those locations.
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In what has to be the most ironic story of the week, job search and recruiting website Indeed.com is laying off 1,000 people.
领英推荐
This joke writes itself.
?Disclaimer – Lincoln does not participate in the crypto currency markets nor does it endorse crypto as an investment strategy.?
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We’re coming up on bitcoin pizza day. What’s that you ask? That is when, on May 22, 2010 a Florida man paid for 2 Papa John’s pizzas using bitcoin. Recognized at the time as the first retail transaction completed in bitcoin rather than cash or credit card. How much did he pay for 2 pizzas? 10,000 bitcoin. Which at the time were worth about $41. Fast forward to today’s price and you get roughly $630,000,000. Hope he enjoyed those pies.
If it sounds like that might have been a mistake to let go of so much crypto, in fairness, they were large pizzas.
?Knowing my affinity for comedy, many friends have asked if I watched the Tom Brady roast live on Netflix last week. I confess that I did not. First, I don’t understand why Tom would agree to this. I mean, he’s TOM BRADY, the greatest NFL quarterback of all time, he’s got plenty of money, he’s handsome and single. Why would he subject himself to being roasted for 3 hours? What’s the upside? Isn’t a roast essentially sanctioned bullying? It’s people, many of which you don’t even know that well, saying mean things about you one after the other. I don’t get why he did it.
That said, I have seen a few clips that were pretty funny. Here’s a short bit from Nikki Glaser, one of many, that went viral. Safe for work. I may try to watch the rest of it eventually.
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?Here is another Netflix show that I attempted to watch, John Mulaney’s “Everybody’s in L.A.” I would review it if I had been able to make it entirely through any of the episodes. I tried, more than one, to watch and could only make it a few minutes each time. Just not funny. Don’t waste your time.
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?I don’t have any in person shows on the calendar for the immediate future so this week’s comedian review is Jimmy Carr’s latest Netflix special, “Natural Born Killer.” If you’re not familiar with Jimmy’s work, allow me to put it this way, he’s not for everybody. He likes to bill himself as “edgy,” but that is an understatement. He is irreverent, obnoxious, crude and over the line. He knows where the line is, hops over it and dances around for a while, delivers some cringey punchline, then hops back. His opening lines include “people say you can’t joke about anything these days, so watch me now.” There are occasional funny moments, but like many other “edgy” comedians, it feels like he’s trying too hard. He’s using his bits more for shock value than for humor, and it kind of backfires. I didn’t love this special. Didn’t hate it necessarily, but I can’t recommend it. If you are in search of cross the line comedians, I prefer Dave Chappelle or Anthony Jeselnik or Ricky Gervais. They seem far more genuine and IMO, much funnier.
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This week’s chuckle is 45 seconds of Anthony Jeselnik. He has a neighbor with alzheimer’s,
Safe for work.
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LF30 – “There is nothing new in the world except the history you do not know.” – Harry S. Truman.
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Have a great week and stay healthy.
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This material is for informational and educational purposes only. Opinions and forward-looking statements expressed are subject to change without notice.? Links to external content are provided for your convenience and for informational purposes only. They do not constitute an endorsement or approval by Lincoln Financial Advisors (LFA), nor does the firm receive compensation or remuneration for your access to such content. LFA bears no responsibility for the accuracy, legality, or substance of the external content or for that of any links within such content. The opinions expressed are those of Michael Acho and not necessarily those of Lincoln Financial Advisors Corp. CRN-6623570-051424
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Michael J. Acho, MBA, CFP? Private Wealth Advisor --------------------------------------------------- Lincoln Financial Advisors/Sagemark Consulting 20505 West 12 Mile Road Southfield, MI? 48076 248-948-5100 direct 248-948-5101 fax 248-933-4339 cell
947-258-0289 texts [email protected]
If you do not want to receive future emails, please call me at 248-948-5100, or email me at [email protected] or write me at 20505 West 12 Mile Road, Southfield, MI? 48076. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice.? You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances. Please do not send any trading or transaction instructions through this e-mail. They will not be honored or executed. Should you require immediate assistance, please call the Lincoln Financial Advisors Trade Desk at 1-800-237-3813. Michael J. Acho is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker-dealer (member SIPC), registered investment advisor and an insurance agency. Insurance offered through Lincoln affiliates and other fine companies.
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