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Financial Life Planning & Investment Strategies
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2011 MarketsThere have been some hints of good news lately. The U.S. unemployment rate fell to its lowest level in 32 months. Recent data suggests that the job market was stronger this fall than originally believed. Shopping figures were strong for both Black Friday and Cyber Monday. There is also no shortage of negative news: the uncertainties in Europe and the gridlock in Washington come quickly to mind. The housing industry remains mired in the backlog of foreclosures and home prices continue to fall. All of these factors, positive and negative, are nothing more than short-term factors over which we exert no influence. Mike and I often stress that we are all long-term investors. This is easy to say but harder to put into practice in difficult economic times. Many of you are disregarding the noise and following your financial plans—good work!! Please let us know if you have any last minute issues for us to handle before year end. We can help with IRA contributions to charity, harvesting tax losses and creating cash for spending in 2012. "My favorite things in life don't cost any money. It's really clear that the most precious resource we all have is time." Smart PhilanthropyIndividual donors research only about 1/3 of the causes to which they donate. Try these steps in your charitable giving to make your money count.
How to Avoid Telemarketing Fraud—Some TipsTelemarketing, phishing and spam are unfortunate characteristics of our modern age. We offer some tips below to protect you from unwanted fraud. Ignore Uninvited PitchesWhen you receive a sales pitch, a request for money or even a call from a company you patronize, be cautious. You do not know who is on the line. Do not do business with them. Ignore e-mails from strangers or anything from a friend who claims to be in dire straits. Many people have been hacked and unwittingly send you e-mails that direct you to a website. Recognize these as frauds and do not respond. Give Nothing AwayDo not respond to unwanted questions. You should not verify your name or address. Give no new information out on the phone or by e-mail. Scammers are looking for something they can use. Turn the TablesIf someone insists they need to speak with you, call them back. Do not use any number that the caller furnishes. Look up the number and call back the business, bank or credit card company. Never respond to pressureWhat's the big hurry? Do not give into any kind of pressure—just hang up or delete the e-mail. Scammers like to create false deadlines to elicit information, but don't fall for this tactic. Be Proactive
Mission StatementAt Wiiken & Gorman we pledge to use our expertise to help clients imagine a better financial future and develop a plan to experience more financial security and happiness in their lives.
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| Yearly MAGI Married Joint | Medicare Premium |
| $170,000 or less | $99.90 |
| $170,000-$214,000: | $139.90 |
| $214,000-$320,000: | $199.80 |
| $320,000-$428,000: | $259.70 |
| Above $428,000: | $319.70 |
Fund News
TIAA CREF replaced Fidelity as the new manager for the California Scholarshare 529 Plan. Total plan fees are lower and there are a few more investment choices.
Bill Gross issued a public apology for the recent poor performance of the Pimco Total Return Bond Fund. The fund shortened the duration of the portfolio and moved away from Treasury Bonds, both of which hurt its return. We continue to have confidence in this fund, but are watching its performance with interest.
Management
Wiiken & Gorman manages money in pension plans, IRAs, personal accounts, and trusts. We charge a retainer fee for portfolio development, monitoring and reporting. We also help with financial life planning issues that arise. Please call us if you would like to work with us in this capacity. The minimum managed portfolio size is $500,000 and we welcome your business and referrals.
ADV and Code of Ethics
When you became a client of Wiiken & Gorman you signed a contract and received a document known as the ADV form. The ADV is the form that we file regularly with the SEC. We revise this document annually, whenever there is a material change in our business and continue to give it out to all new clients.
If you are interested in seeing the current Wiiken & Gorman ADV, updated in 2009, ask for it the next time you are in for a review or send us a SASE and we will return the most recent version to you by mail. We also have our Code of Ethics available for review.
About Your Planners
Mike and Pat welcomed their healthy first grandson Gabe on November 25th. Gabe joins his three year old sister Abigail. The Gorman family is thrilled.
Paula's younger son Jesse finishes the Fire Academy this month and plans to continue his education in fire suppression. Her older son Matt will return from Afghanistan in early 2012.
Mike was quoted in the November issue of Northbay Biz.
Paula and Howard are traveling to Belize in late February on vacation. They plan to snorkle, stay at a mountain eco resort and relax.
Paula and Mike have successfully completed 60 units of continuing education for 2010-2011 and are proud to be members in good standing of NAPFA, the national fee-only financial planning group.