Daily Data

Well, in this post-Independence day week, the news is normally pretty scarce, except for this year.  Seems like there's plenty to pay attention to.

Perusing the business news this morning, we find that initial jobless claims fell sharply last week, and this may have been impacted by fewer than expected layoffs in the automotive sector. However, continued claims of people still on jobless aid rose by 159,000 to a record 6.883 million for the week ending June 27.

In addition, stock futures are pointing to a positive open after a better-than-expected earnings report (read: the loss was smaller than expected) which may indicate that the worst of the recession is over.  For stock investors, the focus is now on corporate earnings, and signs of hope shown in improvements in the comparisons.

And, for those of you who watch the annual Nathan's Hot Dog Eating Contest from Coney Island, NY on July 4th, Joey Chestnut defended his title against Takeru "Tsunami" Kobayashi by eating 68 franks in 10 minutes - a new world record.  

Chestnut was quoted in the New York Daily News as saying "I've been practicing hard" and that "I knew it would be hard to beat me."  Kobayashi commented, "I wish I could have done better...it was a real bummer that I lost."

Chestnut is going for 70 hot dogs next year...stay tuned.

I have to admit that in the midst of all of the business, economic, and world news that hits us day-to-day, I'm glad we live in a country where we can still find entertainment value in the Nathan's Hot Dog Eating contest.  Although, I can't stomach watching it.

Independence Day

Here we are, Independence Day 2009 with plenty to reflect on for the first half of the year.  I am writing this from Captiva Island, Florida, where I am vacationing for the week with my family.  

As we pause and reflect on the meaning of this holiday, it's a time for us in the financial planning profession to consider what it is we are meant to do and be in this world.  Yes, our profession is a business, but most of the fee-only planners I know were drawn to it because we derive a lot of satisfaction from helping others achieve their goals and dreams.  For many clients, that means a degree of independence.  Independence from an employer or a job that doesn't excite them any more, independence from the world of work, independence to go live somewhere else, independence provided to their children through a good education, independence in the late stages of life.

The lessons learned from our nation's struggle for independence are applicable to our personal lives as well.  For one thing, our ability to separate from the mother country was no sure thing back then.  Our early leaders staked their lives, reputations, and personal fortunes on the outcome.  Nobody knew whether we would succeed, and when we did, very few had confidence that our republic would continue or thrive.

Yet here we are almost two and a half centuries later, still the beacon of freedom to the world.

Our own personal journeys of independence may not entail such a gamble, or risk.  But we are in a far better position today to succeed.  That is what we do.  We lead our clients through the task of declaring personal independence and ride at the front of the troops to bring them home to victory.  Sometimes the battles are difficult.  The enemies may be fortified.  But we will follow our strategy to achieve your goals.

Happy Independence Day!