Important Information from Andy About Home Mortgage

Andy discusses three aspects of the good ol' home mortgage that we may not often hear about -- or think about.

(Find more videos on our YouTube channel: www.youtube.com/tryonite.)

1 - CLIENTS: We are currently considering several technology initiatives, and we need your input. Please CLICK HERE to take a brief survey; you would be doing us a huge favor.  

2 - I was a bit hasty last week in announcing that our next Dinner and a Movie would occur next month. Michele pointed out that we've had a lot of events recently, and it might be good to wait a while before the next one. Therefore, our next client Dinner and a Movie event will take place on Friday, September 14. Save the date! 

3 - One of the more nettlesome financial topics clients often face is how to deal with their home mortgage. This week's video discusses three important things any mortgage-holder should bear in mind. 

Have a most excellent week!

~Andy

Celebrating Holiday Season Together

1 - Financial markets spent last week in a bit of a holding pattern as investors awaited the outcome of the European Union summit in Brussels. While most leaders of the 27 EU members reached a tepid accord (Great Britain demurred), they really did not appear to accomplish the big splash that investors had been hoping for.

2 - Economists are now talking openly about (1) the likelihood that Europe is already in a new recession, and (2) the possibility that the eurozone -- the 17 EU members who all use the common currency -- could come apart. The Wall Street Journal reported last week that member nations are tuning up their printing presses -- just in case they need to start churning out currencies of their own.

3 - We're gearing up for the end of the year: making sure all clients with annual required minimum distributions (RMDs) have taken them by the end of this month, clearing up lingering cost basis issues, and making sure client portfolios are properly positioned to ring in 2012. It is a busy time, but you know us: we're having fun doing what we do.

Have a wonderful week -- and please do your Christmas shopping locally!

-Andy

In case you missed it, On December 1 we hosted a holiday event for clients and their guests. We enjoyed a sumptuous dinner by Pat Strother, delectable cheesecake bars by Juliet, and Frank Capra's timeless film It's a Wonderful Life. Michele did a great job planning and setting up. For the privacy of our clients, our videographer Erik Olsen took care not to show faces (other than us worker bees). Enjoy this one-minute video recap.

How About a Roller Coaster Ride?

1 - The stock market finished last week strong -- the Dow Jones Industrial Average gained over two percent on Friday. But as has been the case for several months, the real story is daily, stomach-turning volatility based on continuing uncertainty in Europe. The recent habit of stocks to soar or plunge based on a single day's news, only to reverse direction following the next headline, is troubling to say the least. It's starkly obvious that investors know nothing beyond the present moment, so for a while at least, the present moment will dictate the movement of the markets. Clearly, caution continues to be the order of the day.

2 - The latest eurozone country to cause concern is Italy -- and this time we're talking about a major economy, the eighth-largest in the world. World markets reacted favorably to Prime Minister Silvio Berlusconi's resignation and replacement by economist Mario Monti, but that country's troubles are far from over. Read "Uncertainty Over Italy" below for a thumbnail description of the situation and its potential ramifications.

3 - Reservations for our upcoming Client Dinner and a Movie event are coming in fast. We already have about 35 RSVPs, and we're looking for more. You know that we're going to watch It's a Wonderful Life, but here's the twist: we're going to see the colorized version. Like many people, I generally enjoy seeing vintage movies in their original black and white, but I really think you'll enjoy the high-def colorized version. The colors are vivid and natural, and with a film as familiar as this one, the addition of color allows you to experience it in a whole new way. Come with an open mind, and prepare to be amazed. Click here to RSVP if you haven't already done so.

4 - Check out the video below; the topic is change, and it will leave your head spinning.

Have a glorious week!

-Andy

A Special Event for Special Guests

Items for your attention this week:

1 - Last Friday's Client Appreciation movie night was a rousing success. There were 56 clients and guests in attendance. The dinner was outstanding (although some folks had to wait for their pizzas, everyone took the delay with gracious good humor), and we received many comments that seeing the movie, Casablanca, in high definition on a big screen brought a whole new enjoyment to the experience. But I would have to say that the greatest compliments were reserved for Juliet's homemade Tiramisu. And for me, the best aspect of the event was certainly the company. It was a grand evening.

2 - The DVD of our recent Portfolio Resetting session should be available later this week. Please contact Juliet if you would like to receive a copy.

3 - The second panel discussion in our New Realities series, previously scheduled for September 20, has been postponed. Two of our hoped-for panelists have scheduling conflicts with the original date, so we are working on setting a date which will work for everybody. You will receive an email invitation as soon as plans are complete.

The stock market continues to be jumpy, driven largely by events in Europe. We are following events closely and mostly laying low for the time being. Times like these are why we diversify the way we do.

Enjoy the week!

-Andy

So What Really Happens to Your Tax Dollars?

1 - If, on this tax deadline day, you are wondering where your tax dollars go, here's a way for you to find out. Third Way, a centrist think tank, has developed an online calculator that tells visitors exactly how much of their tax dollars go for which programs. All you have to do is click on this link , enter the total amount you paid in federal tax for 2010 (including payroll and Social Security taxes), and press the "Calculate Receipt" button. You will instantly be shown -- in percentages as well as dollars-and-cents -- exactly where Uncle Sam spends your hard-earned tax money. Try it; it is very enlightening, and you may find some surprises.

2 - Our April 28 session on How We Invest Your Money is coming up next week. If you haven't registered yet and would like to register for the 2:00pm session, click here. To register for the 5:30pm session, call or email Juliet. If you know you're not going to make it to either session, click here.

3 - Please take special note of this week's recommended book. Several years after reading both volumes of William Manchester's magnificent biography of Winston Churchill, I have recently been revisiting volume 1, Visions of Glory. This time through, I am listening to the audiobook, and it is every bit as entertaining and enlightening as was the first reading.

The impetus for returning to Manchester's masterpiece came from a recent talk given by Tryon's own Paul Reid at Lanier Library (see photo below). Reid was hand-picked by a terminally-ill Manchester to write the third and final installment. Having recently completed his writing, he reports that the book is now in the editing phase at the publisher and should be available sometime next year. I, for one, can hardly wait.

Have a glorious week!

-Andy

Churchill Biographer Paul Reid

Springtime at the Depot

1 - You may recall that Juliet and I recently had to move our operation to the other side of the building for a few weeks following an unfortunate sewer backup. Today we're back into our regular configuration thanks to Mike Karaman and his team, who installed beautiful new flooring in a single week. By rights it should have taken three weeks, but Mike wanted to get us back to normal in time for tomorrow night's Chamber of Commerce Business After Hours event -- and he did it. The building looks better than ever.

The Depot is beautiful in the Springtime, surrounded by the Tryon Garden Club's handiwork as well as Mike's recent plantings. The Depot Garden is one of Tryon's best-kept secrets: a tranquil oasis in the heart of downtown.

2 - Just a quick reminder about our April 28 session on How We Invest Your Money. If you haven't registered yet and would like to register for the 2:00pm session, click here. To register for the 5:30pm session, call or email Juliet. If you know you're not going to make it to either session, click here.

3 - Clients should have received quarterly letters and reports last week. If you're missing yours, let us know.

Enjoy your week!

-Andy