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Independence Day Greece Wrap Up

We celebrated Independence Day in the USA this past weekend; but are we truly free any more?  So much is happening so fast, I’m not sure how anyone can keep up with the changes, much less the news.

Greece may be the headliner these past few days, but it is hardly the only issue at hand.  China, Supreme Court decisions, riots, murders, foreign negotiations, trade agreements, presidential politics, etc. all cast a pall over the market.  We saw it last Monday in a big way with the worst day on Wall Street in many months.  Yet Tuesday and Wednesday were solid up-days.  What should an investor do?  Probably not much; at least not yet.

Most of the news lately is not, in my opinion, anything that requires undue concern for investors.  Greece is a minor player in a larger production, but the large players seem to desire a solution that will preserve not only the EU, but the Euro in Greece as well.  While austerity may be a tough sell to the voters in Greece, it seems inevitable.  Voters are being asked to pay a higher sales tax, modify the pension system, work longer, and so on.  Since everyone has a little skin in the game, the integrity of the Euro benefits the entire EU, but no one is very happy.

Meanwhile, the U.S. can’t lose big in the Greece problem unless there is a great calamity, as we are looked to as the safe haven for investors when the going gets rough elsewhere.  On a positive note, there is quite a bit of speculation that the FED may be more reluctant to raise interest rates while the turmoil abroad continues.  The Market likes that thinking.

This weekend we started talking on the radio show (Van Wie Financial Hour, AM600 and FM100.3, 10:00a.m. to 11:00 a.m. Saturdays) about Inherited IRAs.  We looked at all sides of the issue (I think there are about 4.5 sides to it, which I explained Saturday), and what responsibility each side has to assure that the IRA ownership transition goes as desired.  It is a complex subject, and almost everyone can learn something from the discussion.  We had several excellent calls this weekend, so the topic will be continued starting next week.

As always, if you’d like to direct any of the show’s content, you can do so by calling us during the show at 222-TALK (904-222-8255) with your questions or comments.  If you can’t get a good radio signal, you can listen over the Internet at 600wbob.com and clicking “listen live” or on TuneIn Radio in the internet.  Podcasts of prior shows are available on the WBOB website, as well.

We hope you have had a great holiday while you celebate the birthday of the greatest nation in the history of man.  Let’s all remain dedicated to preserving the traditions and freedoms we have come to enjoy and cherish.  Our children and grandchildren will be better off for our efforts.

There are many reasons to use a qualified, fee-only Certified Financial Planner for your long-term relationship.  If you aren’t using a fee-only CFP, and if you think that you could benefit from a no-obligation consultation, our office number is 904-685-1505, or book online right from the main page of this website.  Be sure to “like” us on Facebook, and follow us on Twitter @vanwiefinancial.