Check out the “BUZZ WORD” Trivia, Page 5!
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Money Matters
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IN THIS ISSUE FINANCIAL TRENDS ›››››››››› › Early retirement and who gets there › Tax season 2016 April 15 › Investing: Have I got a tip for you! › TSP - The year in review › The weight of debt › T he credit report: Your credit history,
MARCH | APRIL | MAY | 2016
Think you know the answer??
FINANCIAL TRENDS ››››››››››
th
the longer the better
RESOURCES ››››››››››
› Money and noney management don’t always go together › BUZZ WORD Trivia › Investing: The shift toward a more relaxed approach › My Money Matters BITS AND PIECES OF INTEREST ›››› CFS BOOKSHELF ›››››››››› › A Random Walk Down Wall Street: The Time Tested Strategy for Successful Investing
FINANCIAL TOWN HALL MEETING
Landlord/ Tenant Issues Thursday, March 10 @ 1:00 p.m. at Bldg. C9, Naval Station Norfolk
Whether you’re getting a place in town or a landlord yourself, learn the Federal (SCRA) and state laws that apply. Speaker: Leah Davenport, RLSO Mid-Atlantic.
CALL 444-2102 FOR MORE INFORMATION OR DIRECTIONS.
To owe or
not to Owe
A recent poll conducted by creditcards. com reveals a strong contrast in financial fitness. A growing number of Americans feel they will be forever buried in debt, but a nearly equal percentage are living debt free. The poll was conducted in November 2015 and included over 1,000 respondents. 21% said they have debt and they will never be rid of it, meaning they could never see a time in their life when they would be debt free. In the same poll one year earlier in 2014 the percentage of people who felt this way was only 18%. That works out to a 16% increase. However, 22% of those polled this year explained they were debt-free which was up from 14% a year earlier, which is an increase of 57%. Clearly the stronger trend in this polling is toward living without debt.
For anyone struggling with debt there are usually options to manage it and eventually have it paid off. But, a good first step is believing it can happen.
Other findings in the poll:
People who said they were not employed were more likely to say they had no debt than people with part- or full-time jobs. Of those without jobs, 32 percent said they had no debt -- twice as many as those with jobs. People without children were also more likely to say they were debt-free: 26 percent, compared with 12 percent of those with children. “TO OWE OR NOT TO OWE”, continued next page
“I always wanted to be somebody. I should have been more specific.”
Reproduction of this publication in whole or part is authorized and encouraged in PODs and unit bulletin boards.
1 | MONEY MATTERS A QUARTERLY FINANCIAL NEWSLETTER FROM FLEET AND FAMILY SUPPORT CENTERS MID-ATLANTIC
~Lily Tomlin
FINANCIAL TRENDS ››››››› Tax Season 2016 th April 15
Early retirement and who gets there Hoping to stop working at a fairly young age, maybe in your late 50s or early 60s? You’re probably going to need to start early building up a sizeable nest-egg that is large enough to carry you through a greater number of retirement years. If this sounds to you like a lifestyle reserved for the rich and famous, think again. Allianz Life Insurance Company recently conducted a poll of 4,500 Americans and asked if they were on track to retire early. There were some interesting common denominators for those who answered yes. First off, sufficient wealth building was not correlated to family background. Meaning, those who were planning to retire early were not necessarily from wealthy or affluent families. A successful marriage was a strong common thread. Marriages that end in divorce are often financially devastating events, but a person who stays married is far more likely to retire early. Another common denominator was being comfortable talking about money with your spouse. Those planning early retirement responded that it was “very easy or “somewhat easy” to speak with their significant other on the subject of money. Finally, having like-minded feelings about money was a powerful predictor. People who can agree on money issues and develop common goals with their money are far more likely to find themselves in a position to retire early. “You can be young without money, but you can’t be old without it”
~Tennessee Williams
Haven’t quite gotten around to getting your taxes done? Our suggestion is to set a date, get your papers together and get it done. Those in the military have some discounted and sometimes free tax preparation options.
Online Tax Preparation
Military One Source provides free tax preparation and filing services and tax consultations for military families. This service allows military members to complete and electronically file federal and up to three state tax returns. This is available for active duty service members, National Guard and Reserve, and spouses. Jackson Hewitt is offering a 25% discount on your online Federal and State tax return preparation. IRS Free File is a program available to taxpayers whose Adjusted Gross Income (AGI) is $62,000 or less. This program helps you find a Free File company that’s best for you out of the numerous companies that participate and offers fillable forms when preparing your own tax returns. TaxSlayer has a Military Edition for active duty service members to prepare federal and state returns online for 50% off. TurboTax offers discounts on its software that’s customized for members of the military. Service members with “TO OWE OR NOT TO OWE”, Continued from previous page
pay grades of E-1 to E-5 can get the software for free, while pay grades of E-6 through all officer pay grades can get the software at a discounted price.
Necessary Documents
Filing your taxes requires a lot of documents and personal information so make sure to collect everything you’ll need before you get started. The following is a list of some of those necessary records, but if you’re getting outside help, it’s best to call ahead to make sure you’re not forgetting anything. •P hoto ID/Military ID • Social security numbers for you and each family member claimed on the return • Wage and earning statement(s), such as Forms W-2, W-2G • Child care costs • Investment income forms (1099s) • Receipts for charitable donations • Receipts for deductible expenses • Your bank routing numbers and account numbers for direct deposit • Last year’s returns “Intaxication: Euphoria at getting a refund from the IRS, which lasts until you realize that it was your money to start with.”
~Anonymous
The average American believes he or she will be debt-free at age 54. People ages 18 to 29 are much more likely to believe they will pay off their debts than older people. Just 11 percent of people surveyed in that age range said they doubted they would pay off their debts, compared with 24 percent of those ages 50 to 64 and 35 percent of those 65 and up.
2 | MONEY MATTERS A QUARTERLY FINANCIAL NEWSLETTER FROM FLEET AND FAMILY SUPPORT CENTERS MID-ATLANTIC
FINANCIAL TRENDS ›››››››
Investing
Have I got a tip for you! The results of an investment study conducted in Europe may have application around the globe. The summary conclusion: When your stockbroker calls with a hot tip on an investment, hang up. The long-term study conducted between 2002 and 2005 studied the advice offered by over 400 financial advisors. It included over 10,000 clients and examined 75,000 stock trades. The lead authors of the study were from Zurich University in Switzerland, University of Mannheim in Germany, and the Swiss Institute of Banking and Finance. Clients of the bank had access to free advice from advisors when they opened
their accounts. The research examined trades made on the advice of the broker, as well as stock trades made without input from the advisor. The results? “Advisors do not help investors make superior stock purchases”. They noted “consistent evidence” that stock trades made in conjunction with an advisor under-performed benchmarks and also under-performed stock trades that clients made independently (without the input of their broker). It is notable that a trade placed on the advice of a broker carries higher brokerage fees than a trade made independently, typically through a discounted brokerage fee. This further erodes returns. One explanation offered was that the
advice given by a financial advisor is often biased by who the bank is doing business with. Advisor suggested picks tend to be right out of the mouths of the securities-firm analysts they profit from. On the flip side, those investors who had access to advisors tended to be more diversified and less likely to panic during sudden market downturns. The takeaway? Listen to the broad personal finance information an advisor has to offer, but as far as the hot stock picks go, your own selections or an index mutual fund will serve you better. “No bird soars too high if he soars with his own wings”
~William Blake
TSP - The year in review And the winner is…..the G Fund? It was a wild year for investors with a lot of ups and downs, but in the end, 2.04% was the best rate of return earned by any TSP fund. TSP (The Thrift Savings Plan) is the 401k style retirement account offered to servicemembers and government employees. Yearly contribution limits go up to $18,000 per person, per year (higher if a participant is over 50 or deployed to a combat zone). 2009 through 2014 had been one of the best 5-year periods in the history of the stock market, but all that ended with 2015. Here is a fund-by-fund recap. G FUND: Probably the best ultra-safe money market fund available anywhere, and at 2.04%, the best return of any fund for the year 2015. If you value stability above all and parked your money here, you made out better than anyone. Not that your reward was anything to write home about. F FUND: The bond fund tied to the Barclays Capital Aggregate Bond Index. The 0.91% return was the worst performance of this fund since 2013 when the return was negative. Bond
TSP returns for 2015 G Fund F Fund C Fund S Fund I Fund L Income L 2020 L 2030 L 2040 L 2050
2.04% 0.91% 1.46% (2.92%) (0.51%) 1.85% 1.35% 1.04% 0.73% 0.45%
values drop as interest rates rise. As the level of interest rates in the economy rises (which they did in 2015) this fund’s return will reflect that. Will interest rate continue their ascent? If so, look for more thin returns here. C FUND: The stock fund that tracks the S&P 500 Index. It was a wild ride, but had it not been for a lousy December the rate of return would have been twice the 1.46% return for 2015. The C Fund is the only stock fund to post a positive return for the year.
S FUND: The small stock fund that follows the Dow Jones U.S. Completion Index. This index reflects the performance of the entire US Stock market except the 500 largest companies. A tough December (not to mention a brutal summer) caused a return of (2.92%). Of course, the parentheses notate a loss for the year. I FUND: The international fund tied to the EAFE Stock Index. The index is heavily weighted in Europe and as that region has continued to struggle, so have the returns. The year ended with a negative return of (0.51%). L FUNDS: The target dated funds which are made up of the five above funds, which become more conservatively weighted as a participant gets closer to the date they intend to use their money. All posted positive returns for the year. The best performing L Fund was the L Income Fund with a 1.85% gain. “I have learned that the quickest way to get rich is not to try to get rich quick”
3 | MONEY MATTERS A QUARTERLY FINANCIAL NEWSLETTER FROM FLEET AND FAMILY SUPPORT CENTERS MID-ATLANTIC
~Dave Ramsey
FINANCIAL TRENDS ›››››››
The weight
of debt
A study recently published by the National Academy of Sciences suggests that a relationship may exist between physical and financial health. Researchers followed 1,000 children from birth to age 32 and found that kids
with poor “self-control” tend to have worse health and less wealth as they age. Poor self-control often translates into poor weight management. The study is one of the few to establish a link between weight control to debt control. Another conclusion was that weight problems beginning in childhood tend to be stronger predictors of future financial well-being than social class origins and IQ. “By the age of 32 years, children with poor self-control were less financially fit. Compared with other 32-year-olds, they were less likely to save and had accumulated more debt problems.” A similar 2005 study conducted at Ohio State University found that people who lose a small amount of weight don’t see much change in financial net worth, but those who lose a large amount of weight tend to “have a dramatically improved financial position”.
Other correlations relating to race and gender surfaced. For example, white females tend to demonstrate the greatest link between increased weight and higher debt burdens. The association was less pronounced for black women and white men, and didn’t appear to exist at all for black men, the study said. Another conclusion: While white women are hurt the most financially by being overweight, white men benefit the most from losing weight. White men who dropped their BMI by 10 points saw their wealth increase by $12,720, while white women experienced an $11,880 increase and black women’s wealth increased by $4,480. “You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.” ~Dale Carnegie
The Credit Report
Your credit history: The longer the better
When talking about credit scores the conversation usually revolves around making payments on time and keeping your credit utilization low. In other words, don’t be late and pay off your debt. But, the third most important category of the credit scoring model is the length of your credit history. While it only makes up 15% of the total score, this should not be overlooked. The length factor comes in a couple of varieties. Most people think of the length of their credit history as the duration between when they opened up the oldest account, to today. If you opened your oldest credit card account in 2010, you now have a credit history length of approximately six years. Simple enough. However, there is an additional calculation that applies: What is the average length of all your accounts? For example, let’s say you have four different credit accounts on your credit report as follows:
ACCOUNT
MONTHS
Car Loan
24
Credit Card 1
36
Credit Card 2
18
Personal Loan Average Age =
12 22.5 months
Now, let’s say you get a credit card offer for 0% APR. Even though you are going to pay off other credit card debt with the low interest card, look at what happens with the average length of all accounts:
ACCOUNT
Car Loan Credit Card 1 Credit Card 2 Personal Loan New Credit Card Average Age =
MONTHS 24 36 18 12 0 18 months
The length of time a consumer has been using credit has been found to be a good predictor of future risk. Longer history equates to lower risk. But don’t forget, average age also equates to lower risk. If a person has a very long history of credit, and the average age of all accounts is say, 15 years, the effect of opening a new account is considered far less of a risk factor. When a person has an already short history because they are just starting out, the effect of opening a new account can be far more harmful. “A person never discloses their own character so clearly as when they describe someone else’s.”
4 | MONEY MATTERS A QUARTERLY FINANCIAL NEWSLETTER FROM FLEET AND FAMILY SUPPORT CENTERS MID-ATLANTIC
~Jean Paul
RESOURCES ›››››››
Money and money management don’t always go together
Ever dreamed of being rich? Of course you have….all that money, financial stability, probably a great credit score to go with it. We hate to burst that bubble, but having money doesn’t always seem to translate into money management skills. At least not according to a recent creditcards.com analysis. According to creditcards.com the best states for money management were Montana and North and South Dakota. It just so happens that Montana ranks 38th in median income level. Maine is the fourth best state nationally for money management and ranks 32nd in median income.
Montanans are the best at managing their money while Marylanders are the worst. The analysis compares credit report data and income. Guess which state has the highest median income in the country? That’s right, Maryland, the last place state. Here are the best and worst money managers in the country: Top 5 1. Montana 2. South Dakota 3. North Dakota 4. Maine 5. Vermont
Bottom 5 47. Texas 48. Virginia 49. Alaska 50. Washington, D.C. 51. Maryland
To measure money management ability, creditcards.com compared consumers’ average credit scores, from the credit bureau Experian, to their median household income, per the U.S. Census. They then ranked the states by differences between the two: The top states had credit scores much higher than their income. In the middle, credit scores about match income rank. Poor performers had high income, but rela-
tively low credit scores. Differences in state job markets and the age of their population influenced their scores, but didn’t explain all the variations in money management ability. Incidentally, income is not a factor in either the calculation of a person’s FICO or Vantage credit score. FICO is by far the most popular credit scoring model used. Vantage is a distant second. The top money-managing states have in common a mostly rural demographic profile that lacks major cities. Low unemployment is a trait that many good money management states also share. Eight of the 10 states with the best credit scores had among the 10 lowest jobless rates. If you’re interested to see how your state ranks in money management skills, the full results can be found at the following site: http://www.creditcards.com/credit-cardnews/state-chart-money-management.php. “Money will buy you a fine dog, but only love can make it wag its tail”
~Richard Friedman
Think you know {BUZZZW } } D OORRODR } D the answer? {BUZZ WW
{BUZ
TRIVIA
All I did was answer the question! You can too!
From the Boston Tea Party, to taxes on whiskey, tobacco and sugar, there is a long a rocky history of taxes in the United States. The personal income tax made its debut to help pay for the Civil War, was eliminated in 1872, was revived in 1894, and then declared unconstitutional by the Supreme Court the following year.
In what year was the personal income tax made permanent in the US? Think you know the answer? Enter our contest for an FFSC Gift Basket give away. LOTS OF FUN STUFF! Submit a correct response no later than March 18, 2016 and you are in the running to win. *Please email responses to wally.barstow.ctr@navy.mil *If you win, you will need to come by the Norfolk FFSC to pick up the gift basket. Good Luck!
ADC Adrian Deherrera
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Contact Wally Barstow at 444-2102 or by email wally.barstow.ctr@navy.mil and start receiving “MONEY MATTERS” today! 5 | MONEY MATTERS A QUARTERLY FINANCIAL NEWSLETTER FROM FLEET AND FAMILY SUPPORT CENTERS MID-ATLANTIC
RESOURCES ›››››››
Investing
The shift toward a more relaxed approach Whether current fad or systemic shift, money is definitely moving away from actively managed mutual funds and into passively managed index funds. Financial research firm Morningstar reported that as of the end of November 2015, investors withdrew nearly $175 billion out of actively managed funds in the last year, with $35 billion coming out in November alone. Meanwhile, passive funds attracted close to $31 billion in November and have collected close to $435 billion in the last 12 months. A figure that represents a lot of new money.
Please stop managing my money
The continued shift toward passive management and index funds has been going on for some time. It may be recognition of the historical likelihood that actively managed funds have not out-performed the market. In the most recent revision of his long-time best seller, A Random Walk Down Wall Street, Burton Malkiel notes that in the last 40 years the S & P 500 has beat 60 to 70 percent of actively managed funds year-in, year-out (see book review on page 8). Rather than attempt to sift through all the financial data attempting to identify
My Money Matters
Having no plan might be a good plan! MA3 Devyn Garrett is on a pace to become a very wealthy man. But, good luck getting him excited about the prospects of just how much it may add up to one day. When the 19-year-old from San Diego, CA is asked why he decided to contribute 15% to traditional TSP AND 15% to Roth TSP, he responds “It just seemed like a good amount.” Mr. Garrett decided to join the Navy because the “pay seemed better than other possibilities at the time.” His stepfather, who is also in the Navy, was an influence, especially when it came to his involvement in TSP. A Dave Ramsey course in high school played a role as well. Well on his way to becoming a millionaire, Mr. Garrett just shrugs his shoulders when asked what he is going to be doing with the money one day. “It’s for retirement, other than that I don’t have any plans.” MA3 Garrett isn’t sure how long he’ll be in the Navy and sees himself eventually going back to California,
winners and losers, passively managed funds take a simple buy and hold approach. A very common type of passively managed fund is one that mirrors the S & P stock index which reflects the performance of the largest US companies. TSP’s C Fund would be an example. But, there are many examples of different indexes that are mimicked by funds which take a simple buy-and-hold approach. TSP’s F, C, S and I funds are all passively managed index funds. “A ship in harbor is safe, but that is not what ships are built for.”
~John Shedd
84
The percentage of taxpayers making less than $50K a year that receive a tax refund.
LAST ISSUE
BUZZ WORD TRIVIA ANSWER! QUESTION:
MA3 Devyn Garrett perhaps to become a police officer. In the meantime, he’s content to let the money accumulate as he begins to evaluate the various options of how to invest in the TSP framework. We don’t see this sort of commitment to wealth-building often, especially not from someone at such an early stage of his working life. However, we’re confident this financial story is going to have a happy ending.
Planning a big Super Bowl party? Don’t spend too much. In February 2015, Americans spent $8.7 billion on the sports world’s biggest single spectator event. According to the National Retail Federation, on which of the following annual occasions did Americans spend less money than they did for the big game? a. Back to School Shopping b. Mother’s Day c. Halloween d. Valentine’s Day e. Easter
ANSWER:
c. Halloween
6 | MONEY MATTERS A QUARTERLY FINANCIAL NEWSLETTER FROM FLEET AND FAMILY SUPPORT CENTERS MID-ATLANTIC
BITS AND PIECES ›››››››
Can we talk about something else please?
Women are willing to talk about a lot of things, but their financial situation apparently isn’t one of them, a Fidelity Investments survey reveals. 80% of the over 1,500 women polled said they refrain from talking about money with family, friends and financial advisors. All respondents were involved in a retirement plan (401K, 403b, etc.). By contrast 77% of women said they are comfortable speaking with a medical professional about health issues.
$61,530 and $106,540) child through age 18 is now $245,340. Variations also depend on which part of the country you live in. Housing, child care and food are the top three expenses. Please note: this does not include the cost of college.
$1,295 Can you live on this? Shouda, woulda, coulda
Is the dream slipping away?
In a recent NBC News poll, 59% of respondents noted they felt the American Dream is becoming unattainable, while only 34% said it was still possible. In the poll, the American Dream was described as “finding a good job, owning a home and having a great retirement”. The younger the respondent, the more likely the pessimism. Of those age 18 to 34, only 16% said the dream was still “very much alive”.
Home is where the net worth is.
Net worth is defined as assets minus liabilities. But, where do people keep the assets? Savings? Retirement accounts? Overwhelmingly, the answer is the home. According to the Census Bureau, for those age 45 to 54, the value of their home represents over 75% of their net worth. That figure jumps to over 80% by the time they turn 69. “Look at failure as a bruise, not a tattoo.”
~John Sinclair
This is going to cost you
The US Dept of Agriculture’s most recent estimate for the cost of raising a middle class (family income between
This means an investor who buys such a bond is expected to pay the government interest.
According to a survey of over 2,000 401k participants conducted by American Century Investments, the biggest regret people have is not contributing enough to their retirement accounts when they were young. Other choices for biggest regret: Being a better human being; working harder on personal relationships and working harder professionally.
According to the Social Security Administration the average monthly benefit is currently $1,295. Since there was no cost of living adjustment for 2016, that will be unchanged. Are you hoping this amount will be much higher by the time you collect Social Security? Please don’t. The nominal amount will go up over the years, but the inflation-adjusted (real dollar) benefit is likely to remain unchanged. So, if you can’t imagine living on this amount today, start saving.
How much we’re saving The Personal Savings Rate is presently at about 5.5% of disposable income which the government defines as total income after taxes. It has been lower, dipping to 2% in 2006, but historically, has been much higher. For example, in the 70s the savings rate was in the teens, and even got as high as 17% in 1975 according to the Federal Reserve.
“You cannot swim for new horizons until you have courage to lose sight of the shore.”
~William Faulkner
Think YOUR interest rate is low?
Saddened by the paltry returns on your CDs and savings accounts? There are bonds being sold In Germany and Japan that have a negative interest rate.
It’s been higher, it’s been lower
In June 2008 the average price of gas in America topped out at $4.10 a gallon. The current national average is less than half of that at $1.69 a gallon according to gasbuddy.com. However, by the end of 2008 the price was lower than it is today at $1.60 a gallon. “The best measure of a man’s honesty isn’t his income tax return. It’s the zero adjust on his bathroom scale.’’
7 | MONEY MATTERS A QUARTERLY FINANCIAL NEWSLETTER FROM FLEET AND FAMILY SUPPORT CENTERS MID-ATLANTIC
~Arthur C. Clarke
FFSC FINANCIAL CLASSES
Financial Bookshelf››››
A Random Walk Down Wall Street:
• The Art of Money Management • Banking and Financial Services
The Time Tested Strategy for Successful Investing
• The Basics of Retirement Planning • Car Buying Strategies
by Burton Malkiel
• Consumer Awareness • Command Financial Specialist Training
Now in its twelfth edition, this classic has been completely revised to revisit the most recent significant financial events as well as punctuate the most basic premise of the book, which is no one can consistently predict the direction of the financial markets. Mr. Malkiel insists that “advisory services, earnings forecasts and complicated chart analysis is useless,” and “a blind-folded monkey throwing darts at a stock listing could …do just as well as one selected by experts.” This is the basis of the “random walk theory”: the future cannot be accurately predicted by past events. The author, who is Chief Investment Officer of Wealthfront and a past dean of the Yale School of Management, is convincing with his arguments. Burton Malkiel joined John Bogle of Vanguard fame to begin the idea of passive index investing back in the 70’s. Considered foolish at first, the indexfund approach has caught on to make Vanguard one of the largest mutual fund companies on earth. The book is a mixture of historical explanations, technical analysis, academic theory and an occasional dose of humor. Those who feel active management can work are broken down into two camps. The technical analysts (those that study stock charts) and the fundamentalists, who, based on the true value of a company attempt to predict its earnings trajectory. The author rejects both approaches. There is a lot to enjoy about this book. If it is arcane jargon you seek, the chapters on Modern Portfolio Theory (diversification with the aim of selecting a collection of investment assets that has lower overall risk), “Smart Beta” (passively follow indexes while also taking into account alternative weighting schemes) and Efficient Market Theory will interest you.
• Command Financial Specialist Forum • Command Financial Specialist Refresher • Credit Management • Developing Your Spending Plan • Division Officer Financial
Leadership Seminar
• Don’t Bet Your Life On It • Financial Responsibility in the Military • Homeownership • How to Survive the Holidays
If you prefer straightforward advice, his “Fitness Manual” will suit you as the top to bottom basics of successful investing, which includes big sections on avoiding tax penalties, diversifying, and risk assessment. For those looking for quick riches, he is most adamant, “The only reliable route to a comfortable retirement is to build up a nest egg slowly and steadily.” As for the near future, he predicts a foreseeable period of somewhat depressed returns from both the stock and bond markets. A 7% return from stocks (the current dividend yield added to projected earnings growth) and a 2% return from the high quality bond market. This book should not be confused with his condensed version by the similarly named, “Random Walk Guide to Investing.” Mr. Malkiel’s investment beliefs were adequately summed up in a New Year’s Eve Op Ed that appeared in the Wall Street Journal wherein he acknowledged that we are in a challenging and expensive investment environment, but insisted “the timeless lessons—keep invested, don’t try to time the market, and diversify broadly— remain the best guide for investors”. It has been a winning strategy for many. “The less you talk, the more you’re listened to.”
~Pauline Phillips
Financially
• Identity Theft Protection • Insurance • Million Dollar Sailor • Savings and Investing • Smart Start Finances for Newlyweds • TSP-Your Key to Financial Independence For class schedules and to register for classes, call an FFSC near you, visit our website or scan this mobile code with your smart phone.
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www.cnic.navy.mil/navylifema Do you have comments about this publication, a topic you would like to see covered or a book to be reviewed? Contact Wally Barstow at (757)444-2102 or wally.barstow.ctr@navy.mil
8 | MONEY MATTERS A QUARTERLY FINANCIAL NEWSLETTER FROM FLEET AND FAMILY SUPPORT CENTERS MID-ATLANTIC