"# $&$ ''( ) & * +,- & &&. + / ( 0 "# $& $ '()*)+) $ ' $ ', ', ' ' $ # - ' '..., & ' $ ' / ' ' 0 Continued on page 2, Finite, ' 1 2)$ 34+)5/0 6##/ ' 6 01 +)5/0 1 7(589+9 1 : ; ' / ' $ 0& 6## 1 34 $ ' 1 <) ' ; '7())<92 : 7(589+9 7())<92 : = 758))): > ' 75))))) Continued on page 3, Protection Penalty
Continued from page 1, Finite ' : & ' '' 6 ' $ ' ' $?- ' ' ' : :, ' ' ' - ' : $ $ $ ' @$'@, 34 $ ;' & ' ' -A,, $, ' ' ; /0, :, ' : ' ', ' ;' ; $ :B;, -- $ & B.,$= There are various per mile tax deductions available based on the purpose of your driving. Here are the most recent amounts allowed for deductions in recent history expressed in cents. Use 2004 2002 2000 1998 Business.375.365.325.325 Charitable.14.14.14.14 Medical.14.13.10.10 Moving.14.13.10.10 The only conclusion I have is that the government pays for all auto related costs for employees and lawmakers. The price of fuel has just about doubled in the above referenced time frame and the deduction available for mileage has increased negligibly. It s high time for safe fuel cells to stop the abuses of the oil industry.
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'( The markets clearly don t like change. Your challenge this month is to find out how much the S&P 500 index rose or fell for the year immediately after election years since 1948 if the incumbent party won? What happened if they lost? Email, fax, call or mail your answers to the office. The first correct answer will win a free dinner or a free massage, your choice. + + Automobiles are basic transportation and certainly not an investment. If you are lucky enough to still own one of these old collectible cars, you have seen some recent gains. (in appraising the cars we are assuming restored condition and desirable original options) The key to this process is knowing which car to buy, garage and never use. Most of the cars that are out there depreciate immediately and rapidly. These cars certainly had some depreciation in the beginning but have now become collector s cars today and have significant value with substantial appreciation happening recently. 1972 Plymouth Roadrunner $31,310 1966 Ford Mustang Convertible $47,150 1968 Pontiac GTO Judge $48,060 1970 Oldsmobile 442 $23,726 1957 Chevy Bel Air $36,080 1953 Chevy Corvette $54,800 1970 Hemi Challenger $61,000 )')")* ") $ There is an amazing phenomenon in America today, brilliant people retiring broke or near broke. My definition of broke for this group is going from an annual income of say $500,000 during the working years to a retirement income of $125,000. (some of you may be saying, my heart bleeds, but when you become accustomed to the lifestyle, it s hard to change) I see this phenomenon in occupations where people are busy, highly educated and very intelligent physicians, attorneys, executives, scientists, etc. Here are several groups of people who operate at a high levels of brain power in their professions but fail to notice their weaknesses. So much time is spent refining the skills necessary to be an expert in the chosen field, when taken out of that realm they tend to be below average in other areas of life and cannot see this. It s a blind spot that unless addressed, can lead to disastrous results. A high I.Q. doesn t do you any good if you don t know much about a subject. When it comes to finances don t fool yourself. Its more about human behavior, habits, inertia and resistance than I.Q. Many people come to this country with a suitcase, work hard, hire experts and build empires. Many born here educate themselves, help the public, earn large incomes, retire broke or with a very small percentage of what they are used to having. Inertia hurts experts deeply. Since they are so intellectual and successful in their chosen specialties, the feeling is that success will transcend boundaries and that finances are so simple, they ll get to it. The issue needs to be addressed when you can affect the outcome, not a few years prior to the goal, whether it s college, retirement, business succession, etc. If as you read this you are saying to yourself this is me or this is my brother, father, cousin, neighbor, its time to get serious and address this issue. Is your current flight plan heading for a crash landing? Call the office and we ll give you a fiscal fitness checkup to be sure you re on the right path for you or anyone you love or care for. (
, ' @ " 6 F 1 ' &C' $ H > $' $ @ ;$', & '522 6 ; >? > " $ $ ' ' ' 1 " ' ', &$,' 6, ' ' ()) @34 ',' ', ' ' ':, ' &$' ' $ If anyone you care about would benefit from receiving this newsletter, tell us who they are and they will be included on our mailing list. I m sure they ll appreciate you thinking about them and having their best interests at heart. Name Address City State Zip Code Name Address City State Zip Code 0
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