Planstrong Financial Forum 12/3/2016
Dec 8, 2016|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
From the plan strong broadcast studios he would still play in strong financial forum where your host. Ken Murray and the president Roh plans strong investment minimum. Full force in its time Bruce Morton investing. Simply fall. And I am Ken carver is the anchor desk along with the ball Parsons and our. It's time to play a strong financial forward Paul this is a big exciting program this week we've gotten a lot of stuff wow. First involve courses there's a general news you always like to cover the business news now just an idea is we cover every single week we will get to those. But you also have a new paper that you do just put together enough and moll and a lot yeah it's always something. Well let's even back up from the air Kenny I was I was starting to think rule you know like most investment managers I like to do I radeon and outlook for the coming year men and and reflecting on that arm and balls some other things that are happening most notably the fact that. Other results of the elections and her mom has has entered the picture what really hit me was. How many people really a year ago would've thought that this is where we are today and let me just summarize that can you think about where we are you know early December 262015. Now a year earlier early December 2016 must change as far as your outlook is concerned how many people would have said that the S&P 500 would be 2200. Yeah and how many people how many people said that the dials going to be 191200. Now probably not that many right. More how many people would have thought that Donald. The incoming president elect of the United States and the Republicans. Hold the senate and the house yeah most people did not see your account I don't think so no right. And you how about just how many people saw the price of oil. At over fifty dollars a barrel with a target of sixty dollars a barrel by the Saudi peace how many people saw that urge you to see. You you're go who's in that in the twenty you're exactly right now so you think about that and then you think yourself how many people have made adjustments to their portfolio. Either are anticipating these events or as these events have evolved over the last sponsor mosques and I have to tell you it. I think Dirk awful lot of people out there that have the exact same portfolio the exact same portfolio strategy. That they had a year ago. That they have today and you say to yourself that is truly crazy friend and just start when an easy one interest rates. How many people would've thought. They interest rates would have dropped this past year from 2.3 percent down to one point 4% all the way back up to almost 2.5 percent right now. Now I'm OK so let me put another way just in the month of November due to what happened the value of a ten year US treasury which is supposed to beat Barry. Quote unquote safe for a stable investment are supposed to move much or what happened lost almost 5% of its value how can this a sign that people body. As as truly kind of that if you world of CN guard a safety there's nothing more or quote seed first stable then US treasury in a ten year treasuries kind of a cornerstone of all that that lost almost 5% of its value in the last month so if you are still saying yourself you are like my bond strategy and then you're crazy. I mean if you hadn't made any of adaptations based on our things were happening. As we move along through. This election cycle what's just happened with OPEC and a whole bunch of other things so you're just talking about just. The last thirty days if you haven't looked at your portfolio and see if your ready for a trump presidency and of the year are possible. Changes huge changes to the tax code. Well and that's what the papers about a nanny is just you know let's just take the first one which is that with the advent of a trump presidency and and the reason I said everything I just said about leading up to this in my investment outlook was. There are a lot of people who haven't made. Any changes to their investment portfolio in the last year and I would argue that circumstances have changed incredibly dramatically in the outlook has changed dramatically in twelve months time and if you're one of those people you should call me and talked to me about. What changes we've made as we migrated as we've evolved through this process over the last twelve months because we don't look the same as what we look like a Europe. And let's look at the thing that's during his right in the face and no not even before we get to the term presidency would get the end of the year what we've got to where you get 1231 here we are in December now that's right so there's some stuff you really have to look at between now in the end of the year. And that's something I get a giggle out of two is. I've heard a lot of kind of conventional advertisements on the radio lately that say oh don't forget your rents coming up and you'll make sure you do that IRA contribution in general selling your losers also other stuff right. And I think to myself wait a minute guys you are missing. They're one of the biggest events to occur in the last sixty year smile and that is that for but for the third time. In sixty years our lifetimes in our yeah that's exactly right now for the third time in our lifetimes Kenny in sixty years we have a president. Who was committed to lowering marginal taxes significantly. OK and what that means is not just okay this is great for me I'm looking forward to next year when my tax bill slash well but you also have to look at. Are there are moves on need to make it this year in anticipation of that ash to maximize. The benefit I get in reducing my taxes this year as well. They're also somethings for higher on Ers out there Kenny that you may lose the ability to do. Once 2016 occur and I'm gonna talk through some of those today refute what here's the key I wrote a paper on this. It's about four pages of tax and it's got. As usual meat to grass I scrap a one graph one jar and on and it's real simple loaded explains the people. Some of the things that you should be thinking about doing both for the end of the year and associated. We've. This other event it truly a once in you know a generation type of act which is a significant reduction in marginal taxes and it means that there are things you need to do this year and in less than the next thirty days. And not just. Tax morals but also investment moles and I'm gonna talk through that because the investment moves need to be integrated with the tax moves let me just give you an example -- you may wanna consider. Selling some securities and may make sense and I'll get into that minute but identifying which security issue self should be based on what your outlook is for the investment out as well asks what the tax considerations are those securities consult. The points pretty straightforward first step. Call our office get a copy of the paper read the paper and then. Call our office and asked to sit well thus sometime as soon as you can but certainly not in the last week of the year if you can possibly do it in the next week or so I can guarantee we can get to a reasonably calm. Decent appointment time but if you wait till the end of the year it's gonna be much less likely sort what I would strongly suggest you do caller office asked for copy of the paper and take a look at what the contents say about this once in A generation. Tax reduction that's coming and changes you need to make both for the end of the year before it even goes into play. So stir it up from three weeks' time that we just give you Paul shall free number it's ADD 89727526. And you want to ask for the paper give your information is nobody's the office to answer the phone and you call to sleep your information email. And your phone number and your name and they'll just shoot right out to you but the Compaq and set up an appointment and make sure you do that before the end of the year due this week because. This is important and use this into the pond that's what you write your client apps and European available to our listeners because it meets the end of the year old war. Implementing the strategy for our Klein sure actually reaching out to our clients about all of this but what I'm saying to those others out they are the art. I haven't currently engaged thus is this is really important stuff and too many view this could be certainly thousands or tens of thousands of dollars. That you could over pay in taxes. And you could also make. Pour investment decisions that wouldn't be your best interest both of those things are really important and it's I guess the best way I can describe it is this is not your typical year ran not this is an incredibly unusual circumstance this is a once in a generation. Circumstance and not how I can say once in a generation because. John Kennedy did it in 1963 was implemented in 64 LBJ took over after Kennedy was killed and and then Reagan did it twice in 8182. And then again in 86. That's you don't think about that that's why this will be the third time in sixty years that's our generation. Guys think about that let's read this I mean Paul. Think it's most important paper you've ridden since June I've been doing this program. In the seven years or so sir doing this every urgent so let me just give folks the number get eighty Dade 9727526. 808897. To plan the papers free of charge of course. Kidded emailed to you read it. Then you can call Paul ADB 9727526. 888972. Plan or go online to plan strong dot com send an email. And who have leaking get that ball rolling your roadway on Monday morning and routine gets right back to everybody. While there is a lot to talk about this week there assuring ended before we go to the break tell us just look at the market start partners what happened stock and bond market. Well the markets were relatively flat the stock markets where we are very very close to all time highs. Or I've hit all time highs in all three major stock indexes in the United States. In the last couple weeks OK so I would say things are looking pretty good yeah price. What's fascinating though is that the outlook continues to improve this well and also some of the data that we're getting now is I can finally say is less encumbered we're seeing optimism probably them the biggest piece of data I saw this week that really express expressed the optimism that I've been yearning for for yours deceit was actually consumer confidence number I'm a consumer confidence number came out this week with a reading of 107. Now that's the highest reading since 2000 shaft. OK and my guess is early to. Exactly right but what it all also was a demonstration of who was this was that that reading was done aft skirt trump was elected it's not political do you feel good or not it's how do you feel about the economy and how do you feel about how the markets are gonna do him as a result and what consumers are saying is they're likely gonna spend more because their confidence is up if they spend more that's gonna generate more GDP which is gonna flow through the economy and help a lot of people feel a lot better about their work. And they're earning. Sure that's happening rated Christmas Island culture they're doing shoddy and got when we come back who looks more of those numbers the bonds oil prices won it all means of course we'll talk more about this paper aided in 9727526. Balls number it's a plant strong financial four. This just all Parsons president of planned strong investment management and you're listening to them planned strong financial performance WRKO. Boston's talk station. If you like what you hear on our show and what do you take a look at your investments and retirement plan. Called my office of 8897275260. That's 888972. Plan. Securities and investment advisory services opportunity for metro group member to her as I can see classroom mismanagement and filling in this nation grouping concluded that the Washington street domestically. Six. Don't find out the hard way figure investments are riskier than you thought they. Today's interest rates are just historically low they're pathetically low. This has created a price bubble for many bonds and dividend paying stocks. What's supposed to be conservative. Is actually quite risky. You can avoid major setbacks and meet your investment goals if your portfolio was positioned properly. Call me Paul Parsons of plans strong investment management for second opinion of your investments let us help you navigate the hidden risks in today's environment. Call 8889727526. It's 8088972. Plan. Or contact us online at plans drawn dot com. Securities investment advisory services opportunity mentioned briefly a member Finneran the same BC plans for investment management is not the food at next mutual grouping and is located at 92 Washington street Dedham mass. Trend WRK you know the voice of Boston hi this is Avi Nelson. People use different strategies to acquire enough money for retirement some try to do it themselves others buy insurance for investment products though sometimes will benefit the seller more than the buyer. What makes sense is to hire an advisor with first rate credentials and why do investment management experience should have a fiduciary obligation to act in your best interest and be paid the same amount the matter watcher invested in if these things matter to you. Call Paul Parsons had planned strong investment management to learn more call 8889727526. Hiring the right advisor could be your best investment that's 888972. Plan or vision plan strong dot com. Securities and investment advisory services offered through next financial group and member former SIPC plans to investment management is not an affiliate of next mention grouping and is located and I need to wash street. It's. Okay. It's. Bogey on strong broadcast studios of the epicenter of capitalism this is the plan's strong financial forum would hold Parsons president until I'm stronger investment management. Yeah I'm getting Garber in the anchor desk once again Paul still free number 8889727526. Or your lender plans strong dot com and request polls new paper. It's it's really exciting debris darn devoted the first segment it talks are the biggest tax cut new generation nonsense about how this year will be this is that. And it's not just what should you do once it happens. It's what moves you need to make now before him I don't think a lot of people get that I think this is one of the most under reported stories how appear that if you don't act now you you will actually leave money on the table you wanna take action. I hate yeah. It's not horrible feeling is and so to meet up it just absolutely hit me. That there's a lot of conjecture around what is the trump tax plan to look like night but I gotta tell it dark awful lot of things that are if you will already. To quote Al Gore settled science okay there are a lot of people who within both the trump group as well as the Ryan group strongly believe what this thing should look like including what the tax brackets could should look like and a whole bunch of other aspects to an. What I did was I looked at just the individual income tax on idol the business tax audit looked at a for our list there okay nice for our listeners. Are actually a bunch of changes coming that are gonna directly impact you and by the way there are moves you need to make now Howell. Before the end of the year because if you don't you're gonna kick yourself for having missed the opportunity and overpaid. Taxes between this year and next year and then at the same time you have to make sure that you're investment strategy. Is consistent with that tax strategy and will talk you through that once we out get together but. It's actually mandatory that you understand both of those things are incredibly important. Let me just remind listeners doubles and Paul first of all your papers are easy to read this is four pages that has more pages plus tour grows so grow up exactly with which I used to do you know when the teachers satellite the grandstand page you gotta go to ground and I just I think people like pictures in color is older I don't adapted does have to tell the story so it's easy to understand is something that really. Paul does tell the story clearly and simply and he also shows how important it is so that's number one the number two I got appalled I don't hear anybody else right now nobody's talking about things you need to do before year end. That will help you. When the tax cut kicks and yet this is I mean this isn't. Your usual year around this you know I've heard the usual commercials out there and discussion out there about. Oh well what year and time again and you know don't forget some attacks won't she meet you this that's not what this is about OK that's the closest we Iran. We are on the costs. Of one of the biggest tax changes in sixty years OK there have been this this will be deferred. Major tax rate reduction in sixty years this just isn't your typical year this is once in A generation. You get an opportunity like this and what it means is actually have to do things now before it happens as well as after it happens how to take advantage of it the best. Also remember once again 8889727526888972. Plan. And just leave your information leave your phone number your name and your email address and they'll just ship that ran onto a Monday or ignore want to plans strong dot com and request the paper. And and just as this strategy is something new for you that you probably haven't thought through yet based on the fact that Donald Trump was just elected our president elect in the last several weeks like three or four weeks now right right and I think it took people probably a week just to get over the shock value that you're right but then on information started to become more stable is related to especially his tax plan. And and really the likelihood of it being an act. Acted on and that was the first step towards us recognizing that this is real and it's gonna happen it's gonna happen soon but what are also reflected was it was a material change in the way that we wanted to approach the end of the year and on that seemed the other thing I wanted to say and I started to show this I just wanna sit this one more time and that as. Think about where you were a year ago a you know right before Christmas last year you know you're you're one more year left them in the out Obama presidency. We were hoping that GDP growth was gonna be somewhere between one and a half and 2% to. You know we are current whole lawn looking for opportunities. Are in the investment arena and you you fast forward. A year later and Britain has voted to Levy a European Union. Arm Arnold's got to know Donald Trump is going to be the next present United States. Pomp oil which was down at thirty bucks a barrel last Christmas is now at fifty and the and the saudis and OPEC just signed a deal. Essentially to try to drive the price up to sixty bucks a barrel mark so you think through these things and my point is very simple if you you have the same investment strategy that you had last year at this time you are woefully. Out of deep at this point you have to make changes to your portfolio to maximize the potential benefit your portfolio to adapt east. These no one will argue. I don't think anybody seen it would argue that this is an a materially. Different world a year earlier than where we were a year ago and I don't know how you can go into that with the same investment strategy and say gum sat and good point bow to request that paper. No obligation free paper 8889727526. That's a BB 972. Plant it's the same number to call to set up unemployment to go women's seed Paul and his team you'll sit with Paul and his team to see if your portfolio is ready for trump presidency are you prepared for what's to come tax wise investment why. And there are moves you have to make before the end of the year and please don't call me the last week good haircut because our I did just won't do them any appointments available what I'm really hopeful is that people hear this they'll call for their paper and able immediately scheduled appointment with us because. That will give me the most time. To analyze your portfolio. To understand your personal circumstances and to help you both from attacks planning perspective as well as an investment planning perspective and recognize I'm not eight licensed tax professional but I do understand the basics of what this incoming tax plan as an arm co located with a terrific CPA and and not and his firm and we get horrific advice from them and I always encourage or we bureau tax professional for the first step. Is to understand what's coming and understand what moves may be appropriate for you or circumstances. 8089727526. Or normal on to plan strong dot com and sending email. And get that ball Roma are always looked in the stock markets a little bit now below the bond market. Well you know if if the stocks have done quite well over the last are much are Munson and certainly since the president of the on election occurred Murdoch can. The US stock markets were up you know three or 4%. It just in less than a month think about that now OK I mean that's a huge old friend and overall. We're looking at. On the major. US stock markets being up about 8% year to date somewhere in that ballpark 8% purity including dividends. While international stocks are about flat unity so if you don't think there was a difference between saying oh I'm gonna invest in international vs domestic. You just you missed out big time right and by the white bonds on the other hand. Are actually in in the middle of a sell off right now because it's stocks are going up if people are interested in taking more risk. Then guess what the corollary usually holds that bear interest at Dan in selling our bonds and putting that money to work in stocks and that's exactly what we're seeing and so just to give you an idea. Before. The election occurred. The tenure US treasury was paying about one point 8% it's now paying. 2.4 5%. And before you say it's not that big change 18245. That big a difference right. If you loan to ten year treasury if you bought a ten year treasury on November 1. And you looked at box price of that exact same security on December 1. You just lost four point 7% year value you can feel OK and by the way it had a coupon of about 2% a year for the next ten years so I get some bad news for your underwater. And you're not feeling real good about what was supposed to be a relatively conservative and doesn't like another and that's what we're seeing we're seeing. The fact that our interest rates are going up and and if you're wondering why are arch streets going up it's actually pretty straightforward it's a sign first off confidence and I in the market that are there will be more economic growth. I'm in intermediate or longer term bonds at this point you're not having a good time Bryant went of the US dollar Paul that's still strong it is at it continues to be quite strong and make and the reason is because. It's kind of you look at the US economy and it's GDP growth and we just got another piece of news I was gonna go through was the second. Our estimate of Q3 GDP growth came and it was increased to 3.2 percent now that's up from two point 9% which was the original estimate 3.2 percent is the first time we've used the three water which sometime are and we are hoping we get to three blew in over a short came all right. Right yeah this says that's a pretty good number and so if we're the best game in town with a over 3%. IGP real rate of growth and then. What happens is people that might invest in other countries say no aren't I wanna invest in ninety economy that's growing faster and so it is they spent they you know they buy our currency and drives up the price of the dollar that's why the dollars gotten stronger against a basket of currencies and oil prices soon we'll all know this is the big news and other really big news of the week was. Arms in and you talked about this for how many months now opener getting together and saying do you think we can get a deal together of cooperation. Were we limit our output somehow someway and here's the deal OPEC right now produces around 33 point seven million barrels a day action know that number in my sleep for a candidate and I don't and aren't but here's the deal they agreed to cut about one and a half million barrels a day from their output and they also agreed to all of the entities would within OPEC would share in that and it's not just the saudis doing it also included Iran and Iraq and you haven't heard me say that more help you know right they have not willing to law not been willing to drink the cool you know what they did early sign up and not only did OPEC countries agreed that but also Russia. And others are nonopec countries also said we will voluntarily cut our output the net impact of all of that is the price of well rebounded this past week from the bill look you know kind of 44 dollar range shot up over fifty dollars a barrel for west Texas and 51 a 52 a barrel. For for Brett the other thing that we're seeing is that there's an expectation. A target by OPEC deceit can we drive the price of well off closer to around sixty dollars a barrel relatively shown and the reason they wanna do that is because they are starting to find problems within their own country as it relates to being able to fund their own government activities and the are worried about unrest in their own country. Always come back more about energy including a story involving Canada and pipelines when we return it's a classroom financial form this is. Paul Parsons president of planned strong investment management. And you're listening to them plans strong financial performance WR KL Boston's talk station. If you like what you hear on our show and what media take a look at your investments and retirement plan. Called my office at 808897275260. That's 888972. Point. Securities and investment advisory services opportunity for an integral member to go as I can sequence from investment management clinical and business financial group we concluded the Washington street Damascus Tuesday. News and information you need and a place to talk about it at WRK you know the voice of Boston and. Have you heard about investments that are guaranteed to not lose money or some almost too good to be true ever wondered what they're not telling you don't. In spite of the marketing of these investments are absurdly complex understanding the fine print very in the contract is virtually impossible. These investments often paid big commissions to the person selling them and watch a feast of the insurance company issuing them. The leftovers goading you. It's time you get the whole story from investment professionals who acts solely in your best interest. Call me Paul Parsons president of planned strong investment management to schedule an appointment. Call 8889727526. And that's 888972. Plan called me to find out what they're not telling you. Securities and investment advisory services opportunities financial group picked number cameras and PC play a strong business management is not an affiliate of residential roofing and is located at 980 Washington street cinema. Yeah and the voice of Costa six. 937 FM HD till hi this is on the Nelson if you're fifty or older here's a suggestion. Commit to getting your financial house in order. Over the years you worked hard took chances made sacrifices. And built up as much wolf as possible so you'd never run out of money and retirement. Well now it's time to get organized and to make sure you have a financial plan that will protect your retirement. If your financial act together. Call Paul Parsons had planned strong investment management to schedule financial check up. Call 8889727526. That's 888972. Plan. Commit to getting your financial house in order call 888972. Plan. Or vision plan strong dot com. Securities and investment advisory services officer next financial group linked member former SIPC plans to investment management does not affiliate of investment group and local candidate ninety Washington street demands. Says financial talk and do your signing and informative. Leeson's informative it's black and strong financial forum would hold portions president's bold plans stronger investment management. I didn't carburetor the anchor desk along with Paul Carson. And I just wanna remind you the poll has its new paper it's available to you now he's implementing it with his clients but he knew he available to our listeners right now. It's free of charge 8889727526. Is the phone number for this paper he's talking about the biggest tax cut in a generation mutant did you or copy because there are things you need to do now before year end let's look at the calendar policy or three weeks it's got to move. Fast and it's not your typical year round I mean that's a thing that's. I'll listen our round obviously says other television shows and and radio shows and and nobody is emphasizing the fact that not just what should you look forward to next year but they're actually moves you can make it this year so that the amount that you pay in taxes combined between this year and natural be less than if you just focus on next year it's really important to make some moves this year and in that context you also have to make some investment Mowlds. I admit that some investment decisions. To support those tax malls and we will walk you through all of that and then finally. I would guess there are a lot of people out there whoever made a lot of adjustments to their portfolio in the last year and I would also argue as I haven't the last two segments of the show that. Anybody who thinks that. Where we are today looks like what we thought we were looking at your gold this crazy. Right I mean unless you really have a crystal ball and you consider yourself ya a year ago I saw that Don truffles and become president that Britain was gonna leave the European Union. That Tom. That to our oil our which was thirty dollars type is gonna rebound in less than a year to fifty dollars a barrel and may be equal to sixty in the next few months. And and I'd go on and on to all and by the way we'll have the biggest tax cut in each generation. And consumer confidence will be higher than it's been a long time and GDP is over 3% so nobody's nobody saw that coming -- British say I have argued out there are very few people look where that pressure that they are boy I'd like to I'd like to know what he leaves early on echoes those are some very good T lead so the portfolio you have for last year a year ago at this time. Is probably not going to be the one you want for today Welty user real estate term it's outdated approach things like yeah I mean it's really very because. You know the thing I think about the things that. And people were looking at a year ago to try to squeeze fibers right percent taper to Aaron our homework Foley that's what we're talking about right mr. snow how do we possibly squeeze some return on these at this point and look forward now you've got consumer confidence at a 107. Yeah you know I got to tell here. You're not talking about squeezing at this point man and already you're seeing sectors that were badly beaten up by recover quite nicely with frankly even better outlook in your you know what's gonna just fighting outlook. Dour earnings are gonna get better because they're not gonna pay as much in taxes for example to gonna have fewer regulations I have a several stories in this a this week show up by ever can get to them about different sectors that look all of a sudden to look much more attractive I'm because of what some of the incoming administration is talking about doing to impact that sector. Post over and number 80889727526. Call and ask for this paper it's free of charge 888972. Plan. Where the online to plans strong dot com. And it just ask for the paper and that's also the time to schedule appointment because you don't have much time three weeks before the end of the year you want to give in their talk to Paulson with Paul and his team to see if your portfolio is set up for what's to come chances are it is an apologists explain please don't. Call me on the I don't if you have to call me the week before the end of I don't mind I know you try to get people that will do but happy if you call us this week coming up I can tell you that there's so much the and we can do this in a civilized that I don't know Daria and more importantly I think you'll get real comfort by what were what were talking about doing. And it won't be at such a rush so I would strongly advise you call us now get a copy of the paper it talks specifically about the biggest tax cut in a generation. And I'm you know I'm not exaggerating I think that this way the last time that there was a major tax cut was 1986. OK that is thirty years ago I a lot more here. For years and horrible act and that's sort of yours is each generation price and yield a bit the biggest one was before that 196364. Camden which was in about 24 years rising tide who saw both design and and and it was a major tax cut again and our parents benefited from that is correct but I guess where I'm going with us is it's incredibly important not just to say OK I'm gonna get ready for what's coming in the coming New York. You actually there are some moves you need to meet before the end of the year. Read once again to 889727526. Or planned strong dot com. A ball before the break Pretoria devote some energy story and the fact that oil is it's a great week right around fifty bucks a barrel I would just see fifty bucks a barrel magic number there at Charlotte seeing you know one. OPEC finally for the first time in forever or do pierce I think it is speech came up with a an an output agreement comes a limiting their output and output cap if you well armed and at the same time Russia and some others weren't even part of OPEC agreed to go along with that. All of that's very good news for the price of Welch and again if you own energy from investments and that's good news for you are most likely okay. In a related story about energy speaking of good news. I candidates opt for our prime minister Trudeau. Actually approved two new pipelines in the past week one of them is owned by armed Enbridge and the other is owned by Kinder Morgan or proposed and owned by Kinder Morgan and here's the deal would list. Alberta a bit the big oil producing state in Canada was literally at Max capacity on their pipelines so what's the point where if they didn't build more pipelines to to get some of this oil that's coming out of the Canadian oilsands. If they didn't build incremental capacity on these pipelines what was gonna happen was. You have to either shipment by truck or sugar by -- that would make it expensive up and one of two things would happen either they would delay other projects and kill employment opportunities in Canada touch and to war have more accidents because compared to pipeline. I'd much rather well go through a pipeline and she true some vehicle on a set of of of rail on ice or icy roads in Canada exact storm force and so I think that's that was really a lot of motivation those warm many of the of the incentives for them to prove launch at the same time. They got some concessions from Alberta as it related to you know push eventually of moth balling their coal fired up power plants which was it a good thing from our. In on environmental perspective and that also odd declined. I wanted to and breaches. Tom proposed pipelines so was it you're afraid to deal. But I would say you know we certainly if you're Kinder Morgan shareholder it was a pretty good week for you are and average was more mixed or. So Dave it is Kamal appalling it's interesting you mention of course the GDP number earlier that's now shut but the second estimate of Q3 GDP came out at 3.2 percent vs the preliminary estimate of two point 9%. And you know prices rose by about one point 4% annualized down slightly from the first estimate that's not as good. Armed but the second estimate depended less on inventory build and more on consumption increases remember why such that that two point 9% number was kind of not as good as a headline nine number of gasoline at first something well gee that's almost three that should be a great number right but you are true that as I said wait a minute some of that is because they did a lot of inventory build during the per diluted and Seles might try to rush well in fact the second estimate had less inventory build and more consumption more sales are fair so that now we're talking real GDP growth OK and as a result. I tell you it's a pretty good story and speaking of pretty good stories. Home prices showed good appreciation in September vs August the Case Shiller Index came out five point 1% year over year increase not bad. The probably the other big. Positive story there were two other big positive stories this week one consumer conference we've talked about that already at one almost seven that's the highest level it's been since 2007. And it's just a bullish indicator on how well this holiday shopping seasons and grandpa actually actually good news for Q4 GDP from that perspective of the fed always likes to look. Personal income how that's going galleries those kinds of things what are we seeing there again pretty good news there are not personal income was up big in October sup point 6%. And consumer spending grew about point 3% that means people's shaved some of that and they spent some of the increase on the inflation front. It was up around one point 7% year over year again that's probably the most important number in that entire report that the Fed looks like because their concerns still would inflation not growing fast enough rank but. I gotta tell you once sevens get a lot closer to 2%. And most importantly I didn't see anything in this report that would suggest or trigger the Fed backing away from read increase in the December meeting. Now what about motor vehicle sales ball not a pretty good story the number came in summer two and seventeen point six and seventeen point nine million. Cars and light trucks and number that's the same as what it was last month. On and by the way it in it actually didn't include as many fleet sales this time so this end user sales. Another pretty good story almost all of the manufacturers were up with one exception our Fiat Chrysler was down a substantially because of fleet sales not being high. And on the other hand on a really good news side GM had an excellent Amman today were up over 10% the other manufacturers were our show sales increases somewhere in the range of four to 7% again. Very very good numbers and by the way the mix of vehicles were more light trucks and suvs as opposed a mini cars drive and you know what that does for the profits of peace of the auto companies more profit they are sprite and so but good news there. Initial jobless and was a no no number that came out another really good week Kenny you know it it came in at like 26265. But the other big news was manufacturing you're not talked about manufacturing for months and months saying gosh it's really the last hey you don't teach it hasn't really come through but over the last couple once we started seat come alive in fact in November we saw more expansion are done prior months in The Who major readings in manufacturing saw I think probably the first time at our radio history inch are certainly on this radio station if not for the last six or seven years. We actually almost have consistently solid. Growth stories for our economic data this. So if you read it is the first our poll we come back. We're don't look a little deeper at the new paper see what exactly what's inside will learn a little above it and talk about it and so close why they need to act and act quickly before you around once again postal free number eighty 89727526. It's a blast from financial four. This is all Parsons president of planned strong investment management and you're listening to them plans strong financial performance WRKO. Boston's talk stations. If you like what you hear on our show and what you need to take a look at your investments and retirement plan called my office of 8897275260. That's 888972. Planes. Securities and investment advisory services opportunity for them to group member and as I can see Clinton mismanagement and including mismanagement repentance and visited the Washington street dimension through. The music for many years following the Great Recession investors enjoyed widespread stock market gains but recently investors have weathered two unsettling corrections and understandably wonder what's next at plants strong we think the economy and market still have room to -- but results will be uneven with the winners and losers we also believe that we are on an extraordinary period of innovation and wanted to capitalize on investment opportunities of the future we don't expect to rising tide lift all boats as a result it's time to choose wisely we've written a paper that outlines our current investment strategy and you can get your copy by calling plans strong investment management at 80889727526. You can also request to meet with an investment professional to discuss your portfolio call 888972. Plan. Securities investment advisory services off its financial group think finreg SIPC went through investment management is not the food makes mention grouping and is located at night leaving Washington street Dedham mass. Wait rustic guest traffic and weather whenever. On the WRK a lap hi this is Avi Nelson. People use different strategies to acquire enough money for retirement some try to do it themselves others buy insurance for investment products though sometimes those benefit for shell or more than the buyer. What makes sense is to hire an advisor with first rate credentials and why do investment management experience should have a fiduciary obligation to act in your best interest and be paid the same amount no matter what your invention and if these things matter to you. Call Paul Parsons had planned strong investment management to learn more call 8889727526. Hiring the right advisor could be your best investment that's 888972. Plan or vision plan strong dot com. Securities investment advisory services offered through next financial grouping member former SIPC players like investment management does not affiliated residential Ruben and his we'll give you and I need to Washington's. He didn't pass ground zero for your financial news and economic commentary. This is just the plan's strong financial forum where all Parsons and President Obama plans stronger investment management and it's. Only about Dan Garber the anchor desk along with all its quest confidential informant real or just giving you a lot of information things you need to know. Today and before the end of the year or one of them has been about falls paper that's available to you right now free of charge. Just call Paul's office and requested eighty 89727526. That's ADB 972. Plan. And if there's someone in the office just leave your name your email and telephone number and go get that thing out yeah Monday we can drop an email to plans strong dot com discourage parent is linked to the emails. And you can just say please send me the paper please it's also a time when you really need to think very clearly about. Calling Paul and his team for an opponent before the end of the year. You do want to read the paper first fine or you can do both the same phone call fine. But I think you'll agree once you take a look at that paper. That you'll need to sit with Paul and his team before year end because there has full explained very clearly we're gonna go into little bit more. This stuff you need to do before year end to really take advantage of the upcoming tax cut. And your friends of grid prosumer die in three weeks here. And this just once in a generation I mean that's the amazing thing -- this isn't you know this is that your typical you're and where you just makes him normal spores you know dust off a couple things this just something where you're we're gonna have a very material change meetings with the amount of taxes that most Americans pay and you might so what's good news from me you can't wait for next year right I'll bring it on earth but they're actually things you should do this year when tax rates are high you're. To also take advantage of make sure you pay the least amount of taxes not just next year but. This year also and that's what this is all about is that it's the biggest. Change in a generation. And you have essentially less than thirty days to make sure you get all of the benefit that you could get from this impending change means less. I'm we can remember would've been at the Reagan years was Ernie 8586. That's right there Reagan did to weeded one and 8182 and another one and 8586. And before that it was Kennedy Johnson Kennedy in 1963. Unfortunately as you know he was killed and and Johnson enacted it 1964. Rent and death and that's it out in our lifetimes you and I and that. Who were awfully close to the Joseph 60 right we are absolutely right only we can only weed I only know of two other presidents have done such things so. This is not very opposites a major. Change guys RH can't say will lead to the next one now that's probably true or we hope we can well like Truman or not. Let's on this one while we can't exactly and and so anyway and it's not just tax moves its investment pools and it's it's making sure that the way either you execute these tax moves takes advantage of the right investments in your portfolio. Based on your. Our outlook and we're the best places are to be going forward and by the way. Think about a year Raquel. What you what you thought was gonna happen a year ago and and and how you position your investment portfolio. Vs where you are today and if you haven't made changes to that in that timeframe. Then I would argue that you you are not. I'm proactively or your investment manager isn't proactively manage your account knew early enough. Once again postal for number 8889727526. Or go online to plan strong dot com and send an email so bold as we look at walked Donald Trump is proposing. I mean obviously nothing is a sealed in stone right now but what are we see in the horizon. Well sure let's to a couple things first of all the you know there are all. This is gonna be a major tax change for the first time a long long time and what. A president trump for president elect trump has said he's gonna do he's the first was published tax plan there and at the same time. A house speaker Ryan has also recently. Op published tax plan and what were really digesting as a combination of the two of those as we anticipate what will be the end results at the beginning of this year but it's already been spent mentioned by the Treasury Secretary. That this is something that's gonna come out right away this is gonna be a top priority of this administration here and so we're gonna see this and it's gonna come out quickly so cures what the deal the president elect has published the tax plan that promises to simplifying. And lower income taxes being paid by most Americans first. So simple find. And the net result is you pay lacks you know and the idea is you get to keep more of the money that you earned and the hope is that true leader in faster or you'll spend. I'll catch the second thing is he wants to eliminate the estate tax and so. That is a very big change as well and I've heard that arm not digested properly also -- or you're both in TV and radio date on both the Ryan plan an. And the trumpet on talk about eliminating the estate tax the trump plan however has something for people with the states and sari with assets with capital appreciation in excess. Of ten million dollars from a couple that is. That's a lot of capital appreciation I hit that so it's a lot more than 60 we have ten million dollars in assets you have to have ten million dollars in capital appreciation. Untaxed depreciation breath before all now you may have something subject to taxation. Okay and finally. Trump has also committed to repealing and replacing me Affordable Care Act obamacare. And its associated tennis sort okay confront and so you really have the trump plan would we have -- civil fine lower taxes. As well as eliminating the estate tax. And then. You have a limp a repealing and replacing BACM or obamacare and its associated taxes so let's talk just for shock about what some of those changes are. From a tax rate perspective. It's highly likely will go from seven brackets down to three. Well you know there's a simplification to the vast sums of altercation in the second thing. Is that the deductions. The standard deductions for most Americans are gonna go up dramatically. In other words right now. Not a single pass a deduction of around 6000 dollars that's gonna go grow by two and a half falls to 151000. Dollars okay and for Koppel it's gonna be 30000. Us. It's a very very big change from 121000 dollars for couples today what it means. Is that for you even to be in these new tax brackets is gonna take a lot more income because you're gonna do a lot more of a deduction to sharply okay the marriage penalty is gonna be eliminated. Kerry price and an art by the way if I can go back to reruns in which marriage penalty our usual our tax dollars I don't know what you're talking about a I'm sorry America exactly showed it should bad check her out for for hot by the way on rates for the highest in commerce those in the 39%. Tax bracket and you're actually gonna see a significant rate reduction. It's a bit dare rate is gonna come down from 39 point six down to 33%. Tops where it's gonna be 33%. So if you're fortunate enough and skilled enough to beat pulling in our taxable income of call 415. To 470000. Dollars single vs couples. In your actions your marginal tax bracket come down dramatically as well and by the way he Macy attack. On your deductions so the opposite of what the armed law or you don't cut middle Americans are saying where again more deductions you mace for higher. And people. Hire an income people and you may see fewer deductions allow out because of a Kaplan notes Marcus. And as I said that the marriage penalties gonna go away so people will not be favored from taxation perspective from being singled vs being married. Capital gains will probably be taxed pretty similarly. To the waiter tax tee today except. On TV the difference is with the Ryan plan the reits actually might come down. And both plans would eliminate the Medicare surtax it was that three point 8% normal lapping it is a big number. That will go away with the repeal the affordable care so that's a big change. Another big thing as I said earlier the way the taxable incomes even gonna be calculated. This isn't different it's really important as what it means is if you're middle income person the amount of taxable income you're gonna pay is very likely going to be less than the amount taxed on is gonna be less because you're gonna get higher deductions. On another big thing that's out there is the Alternative Minimum Tax which by the way hits when he 7%. Of the people. Who final. With incomes between I think it's 20500000. Dollars. That's gonna go away and finally as I said a state in gift taxes are gonna be eliminated under the plans. If if you happen to have capital gains in excess of five million dollars at your death as a single or ten million dollars are at your death. As a couple vendor might be some additional income tax implications for you under the truck plant but not under the Ryan plan. Those are some big changes in those especially if you stay in the gift tax hold double taxation thing where people say wait a minute I pay tax on this already right now I'm holding on could not fight. Give it to a family member a loved one if I die and he goes to them. That and being taxed on again this has set stuck in my craw a whole lot of folks who wanted to transfer money. And you know and rightly argue rightfully so and by the way under any of these scenarios small businesses and farms would be excluded. Off from a tax on their on again a really good situation there that the whole point of the paper though is I go through four moves to consider making and by the one additional one. I hope to make and you'll have to read the paper to see bats aren't out. And then finally I also talk about not just what tax move she wanna make but also what investment moves may make sense as well and arm in the end what really means is call for the paper now take a look at the paper also asked to see us and we'll try to get to win and to talk through what your portfolio looks like now and to guide you with what tax moves you should make and the associated investment loans to support that that are consistent with our outlook for next year I have to tell you the outlook for next year looks a lot different than it did six months ago. Are certainly once again balls toll free number and is the same number to call for the paper or to schedule an appointment with Paul instincts and number eighty need. 9727526. That's 888972. Plan. Where you go online to plan strong dot com eighty 89727526. Paul this was chock full program and a lot of fun to do because there's so much going on and it's pretty up. Each stop we've got three or four weeks to go you gotta get it done before hand to maximize your savings and I promise next week I'll have some additional new business stories that are also very important as it relates to investing ideas. In this coming year. Tick tock tick talk of this is not your usual you're and but the year end is coming and it's time to get all paper. Call all for an appointment 8889727526. It's a plan strong financial form. This is Paul Parsons president of planned strong investment management and you're listening to them planned strong financial forum on WRKO. Plus news talk station. If you like what you hear on our show and what you need to take a look at your investments and retirement plan called my office of 889727526. That's 888972. Plan. Securities and investment advisory services opportunity for a -- group member finger as I think she's classroom investment management and filling them essentially rethink this whole business in Washington and Damascus and central investment management is located at nine meeting Washington street Dedham mass or to go to six and be reached at 88 incident 27526. Securities investment advisory services offered through next financial grouping number fender SIPC classroom investment management has not affiliate of nuts financial group think this radio show is for informational purposes only and is not a solicitation recommendation that any particular investor should purchase or sell any particular security. The information contained herein is obtained from sources believed to be reliable in its accuracy and completeness or not guaranteed.