Market Week: December 30, 2013

The Markets (as of market close December 30, 2013) Strong economic reports, particularly one that suggested that businesses are confident enough in the future to spend more on equipment, helped…

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End of The Year Tax Planning

There are only a couple of weeks left in 2013. It may seem impossible —that the year has flown by too quickly— but the calendar doesn’t lie. Here are seven…

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Do Coupons Make You Overspend?

What would you do to shave a few dollars off your weekly grocery bill? To many people, spending an hour cutting coupons from the Sunday paper sounds like the perfect…

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Social Security and Medicare Numbers for 2014

New figures announced The Social Security Administration (SSA) has announced that Social Security and SSI beneficiaries will receive a 1.5% cost-of-living (COLA) adjustment for 2014. According to the SSA's announcement,…

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A New Era in Wealth Management

Dear Valued Customers, Clients, Friends and Colleagues, We’re proud to announce that Kramer Financial is now Kramer Wealth Managers. As many of you know, the way we serve clients has…

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The Changing World of Personal Finance

The world of personal finance is changing and some financial service firms are changing with it.  For the thousands of firms that don’t change to keep up with the trends; I fear they will slowly become obsolete in the years to come.  And for firms like mine, firms that are indeed changing with the times, the changes we are making are important, they are not minor and they are incredibly exciting.  For consumers who are wanting and needing this evolution in financial services, they will see changes in the quality and style of service that better addresses a new set of priorities.

I believe this stems from five significant changes in our society that will begin a new era for personal finance.  These shifts are lasting, they are unexpected and they will transform not only the financial services industry, but also personal finance for generations of working Americans.


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Government Shutdown commentary

Our clients have received a lot of confusing information about what is happening in the global markets, economies and governments. For many people, this confusion has led to an uncertainty about where to focus, when to be concerned, and when to simply shut out the “noise” of information overload. We have been getting many inquiries from our clients who are concerned about the federal government shutdown and the upcoming debt ceiling decision. In consideration of general investors’ experiences with the bear markets of 2000-02 and 2008, we understand their concerns, and we are happy to offer our thoughts.

We believe that a short-term government shutdown will have a minor impact on the economy, and at the same time, no one can accurately forecast the consequences of a default on our debt. It does not matter what an investor reads from widely dispersed articles or sees on TV shows; forecasting is impossible and futile. At a conference for financial advisors last week, several of the Kramer Financial staff heard an update from Bob Benmosche, who is President and CEO of AIG, regarding his meeting with President Obama on October 2nd. Mr. Benmosche was optimistic that both sides understand what is at stake as it relates to the debt ceiling and are determined not to allow a default to take place.

It is important to remember that major financial and economic crises have happened over the years. For example, the following crises (just to name a few) occurred*:


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