Thursday, March 10, 2005

"Martinis with the Mayor" ,the smart ones got it and the stupid ones didn't ..No rhinoceros has a hide so thick and IRA rollovers

March 3 2005

Hello,

The Market at the moment is all about being moderate. Moderate inflation, moderate growth, moderate employment growth, moderate interest rates, moderate savings and the moderation never ends. No boom and then no bust, just moderate growth going out over the horizon and pretty soon that starts to add up to be real money.

It is no surprise or coincidence that the dollar has suddenly switched direction since the presidents charm tour of Europe. As I have said before a weaker dollar hurts Europe far greater than it hurts the US. I would also surmise that it has been done on purpose and has little or nothing to do with the “twin deficits”.

Several of my clients have noticed that there have been an awful lot of stories in the press lately about women, here are a few: Martha Stewart is out and about, sporting a new ankle bracelet, she thanked her fans, her employees and her stock holders, and two of the largest returned her compliment by selling all their MSO stock. The editor and chief of Play Girl Magazine Michele Zipp has recently come out as a Republican! According to Michele and I am paraphrasing Republican men are willing to fight for what they want which transfers into a very satisfactory experience in bed room. Rush Limbaugh commented on his radio show on Tuesday, “Perhaps that’s why most single women vote Democratic and married women vote overwhelmingly Republican?” Other women in the news, Teresa (shove it, you idiot ,scumbag)Heinz Kerry in the Seattle Post is claiming the election results were “hacked” by “right wingers” and terrorist sympathizer Italian journalist Giuliana Sgrena claims the US tried to assonate her ,like we don’t have any American journalist that are pro-terrorist? Betsey Hoffman President of Colorado University resigned. The university has been under fire for more than a year over allegations of sexual misconduct and alcohol in its football-recruiting program and more recently, bigoted statements by “Professor” Ward Churchill calling people who died on 9/11 little “Ikemans” after the Nazi War Criminal of the same name. Sounds just like the UN to me. And finally in a big blow to the women all across the country X-President Bill Clinton has returned to the hospital for a second hart operation, sorry couldn’t resist that one.

The following retirement plan limit increases for 2005: 401(k), 403(b), and 457(b) Deferral Limit $14,000 Age 50+ Catch-Up Contribution Limit* $4,000* 457(b) Pre-Retirement Catch-Up Limit $28,000 Annual Addition Limitation for Defined Contribution Plans $42,000 Annual Benefit Limit for Defined Benefit Plans $170,000 Annual Compensation Limit $210,000 Annual Compensation Limit for certain eligible governmental plans $315,000 Highly Compensated Employee Definition Limit $95,000 Key Employee "officer" Definition Limit $135,000

I have been swamped lately by collecting “rollovers” .Many clients after several job changes the last few years, have assets spread out all over the place. It is easy to consolidate these assets into one tax free account. You can move assets into an IRA rollover and invest the money in safer short term bond funds if you are concerned about market direction. Consolidation also gives you a better grasp of what you are doing, eliminating over exposure of a particular asset class or duplication of fund choices. Thru Bear Stearns which is the clearing house I use you can pick from over 400 equity or fixed income fund families, that’s about 8000 funds. Most investors only need 3 to 5.

Let me know if I could be of service,

James
1(888)599-1188
www.jamesfoytlin.com

1 comment:

Anonymous said...

Dear James,
On behalf of my brother, PFC Rob Jacobs, I'd like to thank you for your kind words. Although Rob is reading every email, he cannot personally respond to every one, but please know that he is grateful for the outpouring of support. God bless.
Christine