1. University of Michigan’s Research Seminar in Quantitative Economics Executive Summary: November 2016

    On November 17, Jon Gardey attended the University of Michigan's 64th Annual Economic Outlook Conference in Ann Arbor where the United States Economic Outlook for 2017-2018 was presented and discussed. The discussion was very lively, coming just nine days after the unexpected presidential election results. While there were many opinions, there wasn't anyone at the conference-including forecasters,…Read More

  2. Life without lattes? Test-drive your retiree budget

    Susan Tompor, Detroit Free Press Personal Finance Columnist Most retirees -- but not all -- see household spending drop the first years in retirement. But the reductions might only be 5.5% to 12.5% in the early years compared with pre-retirement spending. Dorethia Kelly, author of "#MoneyChat," said people preparing for retirement need to start living on a fixed income before they retire. Story Hi…Read More

  3. University of Michigan’s Research Seminar in Quantitative Economics Executive Summary: September 2016

    Forecasting the economy is an area where much effort is placed and which has a fairly decent track record of providing reasonably accurate forecasts. The latest economic update from the University of Michigan’s Research Seminar in Quantitative Economics is this month’s newsletter. The forecast calls for muted growth of the economy this year but increased growth in the next two years. Download …Read More

  4. Planning Idea – Roth IRA for a Child

    Opening a Roth IRA for a child may be a wise investment choice. The longer anyone can keep money invested in a tax-free vehicle, the greater the wealth accumulation. There is no minimum age requirement to open a Roth IRA for a child. Many banks, brokers, and mutual funds will let you set up a custodial Roth IRA if you child is a minor (under age 18). The child must have earned income. This can com…Read More

  5. How to Protect Yourself From Phishing

    What is phishing? Phishing (pronounced: fishing) is an online-fraud technique that is used by criminals to lure you into disclosing your personal information. Unfortunately, as phishing attacks become more sophisticated, it is very difficult for the average person to tell whether an email message or website is fraudulent. That is why phishing schemes are so prevalent and successful for criminals. …Read More


    By Jon Gardey, President and CEO The recent Brexit vote and stock market reaction has dominated the news lately. On June 23, the citizens of the United Kingdom (England, Scotland, Wales, and Northern Ireland [otherwise known as the UK]) voted to leave the European Union (EU). The EU, based in Brussels, is a political and economic union of 28 European countries. The EU got its start in the 1950s as…Read More

  7. Charles Schwab Report Busts Nine Myths of Retirement Planning

    Misconceptions, misinformation and miscommunication are prevalent when it comes to retirement planning. Planning for retirement can be a stressful ordeal already, particularly for those over the age of 50. Add faulty understanding to the mix, and some retirees can actually destabilize even the most protected of financial plans. Brokerage house Charles Schwab recently released a survey of nearly 1,…Read More

  8. A New Breed of Con Artists

    Today's scammers are on the phone, at your door and online. Here's how to fend them off. by Joe Kita, AARP Bulletin According to a survey by True Link Financial, older Americans are criminally defrauded of $12.76 billion annually. This includes identity theft and all those crazy scams you hear about but smugly think will never work on you. Do you consider yourself friendly? Thrifty? Financially …Read More

  9. Why A Portfolio Should Contain Foreign As Well As Domestic Securities

    As little as 30 years ago, the bulk of the world's securities were issued within the United States. This situation has changed drastically since then, and this change has provided an important opportunity for portfolio management. Following are five reasons for including foreign securities in an investment portfolio: Diversification is a crucial part of prudent portfolio management, and the use of…Read More

  10. Profitt Report:Establishing Credit When You Have None

    When you’re first starting off in life, establishing credit can be a pain. It can be hard to even get a credit card without credit. UM-Flint student Colin Madsen just moved into his apartment and learned a lesson about credit the hard way. “They based your security deposit off what your credit score was I don’t have one built up, so I have the max deposit right now,” he explained. He’s n…Read More