When Frank began practicing bankruptcy law, his average client earned between $8 to $9 an hour. A decade later, his clients increasingly earn six-figure incomes. And Dave and Beth were one of Frank’s high-earning clients. At one point, the couple had amassed over $100,000 in credit card debt and were tapping their home equity line of credit to pay for a lifestyle their family simply couldn’t afford. Dave’s six-figure annual bonus was enough to cover a large part of his outstanding credit card balances, but the debt kept piling up, and they had little choice but to seek out Frank’s…

City streets had been flooded for hours before the hurricane made landfall in Louisiana on the morning of August 29, 2005. Levees all around New Orleans had collapsed, and by 5 a.m., the city’s largest canal, the 17th Street Canal, failed.

Over 1,800 souls lost their lives, and billions of dollars in damage was left in the wake of Hurricane Katrina. Scientists predict that once-in-a-generation natural disasters like this one may become more prevalent in the coming years, given the effects of climate change. Even so, President Joe Biden’s infrastructure plan intends to address this genuine concern.

The American Jobs Plan

In a speech…

Some investors today are worried. They’re asking, “is now the right time to get into the markets?” Their primary concern is putting money to work at the top of the market, only to see their precious savings decline in a selloff. And they have good reason to be concerned. Volatility in certain parts of the financial markets remains elevated while asset prices continue to drive higher and, by many measures, are disconnected from fundamentals. So, what should an investor do to avoid losses associated with investing at the wrong time in such an environment?

Maybe you’re sitting on cash and…

Let’s face it, no one wants to be the one person that missed out on what seems to be a once-in-a-generation investment opportunity simply because you’re trying to do the right thing. This decision is especially difficult at a time when making money in the markets seems so easy. Without a doubt, the fear of missing out on a great opportunity is so powerful that in the past it had encouraged otherwise rationale investors to put money into worthless tech companies in 2000 and prompted hairdressers in Florida during the housing boom to purchase three or four rental homes they…

This past year has been a period in history that many of us would like to simply forget. Concerns about our communities’ wellbeing led to a seismic shift in the way that we work, educate our children, socialize, and go about our daily routines. Without a doubt, 2020 has been a year that has tried our livelihoods, finances, health, relationships, and most importantly, our patience. Indeed, the one word that might best characterize an experience that happened to us is: survival.

Nevertheless, chances are good that the negative factors that have forced us to hunker down are likely to ease…

Financial markets have posted notable gains month to date. And market optimism concerning the US elections has been amplified this week by hopes for a COVID vaccine. A key question for investors now is whether news of a vaccine will be enough to push risk assets higher through year-end, even as accelerating COVID infection rates threaten an already fragile economic recovery.

Without a doubt, the news of a means to quell the spread of this year’s deadly virus is a positive development for our healthcare system, our economy, and the markets. However, of particular concern remains production and distribution obstacles…

The outcome of next month’s Presidential Election is likely to be of great consequence for the US economy and financial markets. Given former Vice President Joe Biden’s recent gains in the polls, it’s possible that the market narrative driving markets could turn if Biden clinches a victory in November.

This narrative shift means that investment strategies that may have worked over the past six months could struggle to maintain their momentum as we move into the coming year. …

Market volatility can have a way of derailing your best-laid investment strategy. So, what can you do to reduce risk when markets move against you? Stay invested and get back to the basics. As with most life situations, when circumstances put up roadblocks to your goals, your first response may be to double down on your current approach instinctively. However, doing more of what you already have done may not only deplete your resources, it may also exacerbate an already untenable situation.

That’s why when markets start moving against you, one of the best things you can do from an…

How certain are you that you’ll achieve your crucial financial goals? Even if you’ve had the most basic experience preparing for the long-term, you likely know that having the right financial target in mind for retirement, financial independence, or a big-ticket purchase is vital to a successful planning outcome. But did you know that basing your financial allocation decisions on a static, unchanging view of the world might leave you gambling with your financial future?

Indeed, understanding how your financial target may rise or fall based on shifting financial and economic conditions or varying lifestyle preferences is vital to the…

Is US dollar dominance poised to end, and what might it mean for your finances? Uncertainties surrounding US dollar strength have been top-of-mind for some individuals for many years and for a good reason. A significant decline in our nation’s currency could lead to higher prices for the goods and services you consume and make it more expensive to borrow money for big-ticket purchases like a house or a new car.

Today, there is a sensible argument to be made for a diminished worth of the US dollar. Ballooning government borrowing, massive central bank money printing, and the decline of…

Peter Donisanu

I am Chief Financial Strategist and President of Franklin Madison Advisors. I write about the markets and economy to help people get ahead in life financially.

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