The government has finally gotten around to helping the individual investor and rightfully so with the world’s equity markets just completing the worst yearly performance since the Great Depression with the Dow down 34%, the S&P 500 down 37% and the NASDAQ down over 40%. The government, in its efforts to allow retirement accounts to recover from this downturn, has established the Worker, Retiree, and Employer Recovery Act of 2008 (WRERA) which was signed into law by President Bush on December 23, 2008.

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2008: Lessons Learned

by Ana Maria Martinetti-Katz, CFP®,CPA, MBA, AIF®

Few will argue that 2008 was an eventful year not too soon forgotten. From presidential elections to corporate bailouts to plummeting home and stock prices, 2008 was flooded with noteworthy events. And just like we learned in our history class about such events in the past, so too will our grandchildren learn from what happened last year. Let’s reflect on the lessons these events can provide.

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Rethinking 529 College Savings Plan

by John Pitlosh, CFP®, MST

A conversation around dinner table USA…
Parents “Son….you know how you wanted to go to M.I.T., so you could become a scientist and start your own business to develop those fuel cells that can collect and store the unused energy from cell mitosis…”

Son“Yes indeedy I do! All that money I saved up from my internet paper routes which you and grandpa matched and doubled…I should be home free with that tax free 529 savings plan you guys picked…Right?”
Parents “Well………We wanted to talk to you about that ……..You see the market was down BIG last year and…And…Well…Unless you want to wait around for the market to bounce back, you are going to have to keep your paper route or take out loans while you go to school because your dad and I saw how long it would take to retire after we pay for college and…We took a shot, but we just can’t do both…SORRY.”

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