Mayans and the ‘Fiscal Cliff’
Will the Mayan’s be right? Could this be the last newsletter from Wealthabundance? If the Mayan’s are wrong, continue to invest smartly 🙂
Will we fall off the ‘fiscal cliff?’ Probably doesn’t really matter. We are $16 trillion in debt, unemployment is really over 14%, and there are over 23 million people in need of work. There are over 47 million people on food stamps—– I’d say we’re already over the cliff. But here are some interesting numbers according to Kiplinger’s.
The most recent data from the IRS (2010 Tax Returns) shows that the top 1% of income earners reported adjusted gross income (AGI) of $369, 691 or more, according to Kiplinger. The number of U.S. taxpayers in this elite group totaled 1.35 million. This small group of people accounted for 37.0% of all the federal income taxes paid in 2010. The top 5% (AGI > $161,579) and 10% (AGI > $116,623) of all taxpayers accounted for 59% and 71% of all federal income taxes paid, respectively. The bottom 50% (AGI < $34,338) accounted
for just 2%.
So what should investors do? Ignore the media, the pundits, the ‘talking-heads’ and continue to focus on your life, your family, and your dreams!
Free Market US Fund 16.49%
Free Market International Fund 16.09%
Free Market Fixed Income Fund 2.12%
Dow Jones Industrial Avg. (13,135) 10.45%
S&P 500 (1414) 14.89%
NASDAQ 100 (2628) 16.85%
S&P 500 Growth 13.74%
S&P 500 Value 16.45%
S&P SmallCap 600 Growth 11.29%
S&P SmallCap 600 Value 15.17%
MSCI EAFE 15.95%
MSCI World (ex US) 15.51%
MSCI World 14.63%
MSCI Emerging Markets 16.74%
6-mo CD 0.47%
1-yr CD 0.71%
5-yr CD 1.36%
MLCD (Market-linked FDIC CD) -call for details. MLCD’s are paying around 4 times higher interest than traditional bank CD’s