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Archive for November, 2012

Be Thankful! Five Reasons Why Americans Should Celebrate

Posted By Michael Roby | Monday, November 19th, 2012

Thanksgiving 2012 finds many Americans out of hope, out of work. out of money, and out of dreams. We face many daunting challenges as individuals and as a nation. Selection_002Why should we be thankful with the looming specter of a Fiscal Cliff, a National Debt increasing without adding infrastructure, free enterprise being attacked as the problem, and not the solution, and a sense of resignation that hard times are the new normal?

  1. What happened on November 6, 2012 was an American Election, and not a military coup. We don’t have rioting or missiles overhead. We have natural disasters and still find the means to help others. Americans are still the most generous, compassionate people in the world. Our roots are sown in the seeds of tyranny and oppression and we won’t go back. Be a part of the American Solution, not part of the problem.
  2. The United States has resources and people to work and some of the best minds in the world. This is still the richest country in the history of mankind. We have natural resources, energy, cropland, technology, infrastructure, and the brains to make it happen. We can’t keep people from crossing the borders legally or illegally because we offer a better life and opportunity.
  3. You have a public platform to be seen and lead. A financial advisor in Illinois chooses a unique route to affecting change. He’s not ranting about the election or spewing hate. Instead of saying what he is “against”, he is showing what he is “for.” He is conducting seminars on becoming an entrepreneur. Creating your own job, not a position with another company or the government. Choose leadership over whining.
  4. People have financial problems, and you have financial solutions. Today people and businesses need you more than ever. Don’t try to be a sage. Advise using time-tested principles that always work. Your clients don’t need an order-taker; they need financial leadership.
  5. In the United Sates, we have a President with a two-term limit, not a monarchy or dictatorship. Small American Businesses may be getting the message that they can’t sit on the sidelines any longer. Get over worrying about “What will people think?” and take a stand for what is right. Have the courage. Get involved. Stand your ground. Serve others. Create jobs. You DO have the ability to affect change. And as always…

Work Hard And Have Fun!™

The Fork In The Road

Posted By Michael Roby | Monday, November 5th, 2012

Professional Advisors have become totally immersed in the upcoming Presidential Election, to the point of obsession, depression, and end-of-the-world-type visioning. This type of thinking scares me. You cannot advise others when you are living in a state of fear and confusion.

The emotional effects of the current economic recession sometimes result in emotional problems for clients…and their advisors. People often take the events of the immediate past and extrapolate them into the future, and many clients face life changing decisions as a result of the current effects of the financial tsunami which began in earnest in 2007.  People are afraid for their future and basic needs…like a job.

A 2003 study in the Journal of Epidemiology & Community Health found that “being unemployed was associated with a twofold to threefold increased relative risk of death by suicide, compared with being employed.”  In addition, a 1998 study in the British Medical Journal found “the link between suicide and unemployment is more powerful that other socio-economic measures.” Is there fear out there? You bet there is, but people need advice from those in emotional control.

Regardless of the outcome of tomorrow’s election (which has the potential to drag out for WEEKS if the polling data is accurate) you need to know what you believe. YOU MUST REMEMBER THAT YOUR CLIENTS NEED AN ADVISOR NO MATTER WHO WINS!

In order to provide advice, you need to have the following firmly in place:

  • An understanding of economic history
  • An understanding of exactly where we are today from an economic perspective
  • A list of Principles that form the bedrock of all recommendations
  • Strategies based upon the above for the most likely scenarios

Have a strategy for all contingencies based upon present fundamentals,  technical indicators, and other pertinent circumstances. They do what you do best…ADVISE.

Work Hard & Have Fun!™