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Stephen E. Covell, Louisiana estate planning attorney

Stephen E. Covell is an attorney with 32 years of experience in estate planning and is the managing partner of Covell Financial, LLC MORE...

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Louisiana Investor Blog - Most Recent Post

Is Gold a Good Investment?

August 21, 2010 — Steve (Views: 43)

gold investment Most people who follow gold have a mindset that gold is an inflation hedge. That is, that gold goes up when inflation goes up. Right now gold is at record highs and climbing, yet inflation is running at about 1.3% -so what’s going on?

The Wall Street Journal has an interesting article that points out that a better correlation exists between gold and how the dollar is doing, not how inflation is doing.

So here’s the bottom line: if you share the belief that the strength of the dollar is more relevant to gold prices than the inflation index, then you should be thinking about where you believe the dollar is going over the next several years. If you think the dollar will be stronger, than gold makes no sense. On the other hand, if you think we are trending towards a weaker dollar, than gold does make sense.

Filed under: Economics | Comments (1)

Market Myth

"No single factor has played a greater role in the destruction of people's wealth and retirement plans over the past quarter century than the investment return assumptions on which most advisers and financial services firms base their clients portfolios and their product pitches. The biggest myth is that the stock market returns, on average, about 10% a year. This figure was baked into so many retirement plans that you'd think it was a scientific fact..."
-Forbes Magazine, Feb. 2009

Latest on the Estate Tax

There are currently several bills in the Senate and in the House that are being overlooked by the media because of the health care debate.

We do not know what version of which bill will prevail, but it is beginning to look like the exemption may end up being somewhere between $2 million and $3.5 million per person.

An important change is to make the exemption portable between spouses. Currently, we have to use legal documents to make sure both spouses take advantage of their exemptions. If portability passes, then a surviving spouse will get any unused exemption from the deceased spouse.

For more information, see our ARTICLE on the subject.

Outliving Your Savings

A new study shows that 90% of Americans who do not have a source of guaranteed income other than Social Security will die broke. The study reveals that Americans who rely on savings and Social Security have very little chance of making it through retirement without running out of money. On the other hand, Americans who have created a private pension for themselves in addition to Social Security have only a 24% chance of dying broke. MORE...

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