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The Independent Investor: The More You Look, The More You Lose
By Bill Schmick,
01:05PM / Friday, August 26, 2016

How many times a day, week, month or year do you check your tax-deferred savings account? Did you know that the more you look, the higher your chances of losing money? For most of us, once a year is more than enough.

There are clients of mine that check their retirement accounts several times a day. To say they are addicted to doing so would not be an understatement. Some of them are retired and have nothing else to do each day but sit in front of the television watching financial channels. They are usually male, have control issues and have substituted watching TV and their investment accounts for their old job.

The sad facts are that the more you look, the higher the

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The Independent Investor: Health Savings Accounts a Good Idea
By Bill Schmick,
03:14PM / Thursday, August 18, 2016

Does your employer offer a health savings plan? Many do, especially if your company's health insurance has a high deductible. If you aren't taking advantage of it, you should and here's why.

Health Savings Accounts (HSA) were created as a way to help control rising health care costs. An HSA is an account, similar to a personal savings account or an IRA that you can open at work or on your own. Employers consider it a supplement to their high deductible employee health insurance plan (HDHP).

How do you know if your health insurance plan qualifies as a high deductible? Usually, HDHPs won't start paying out until after you've spent at least $1,300 (individual)

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The Independent Investor: Why the Nation's Productivity Matters
By Bill Schmick,
02:31PM / Thursday, August 11, 2016

The headlines paint a stark portrait of the amount of goods and services that American workers produce in any given year. We are in the longest decline of American productivity since the 1970s. That fact has economists pessimistic about the future chance of continued growth in this country.

Labor productivity has declined for nine straight months and fallen 0.4 percent over the last year. There is nothing complex about productivity statistics. Output per worker, according to the numbers, is drifting down when it should be going up. The last time this happened was in the 1970s, just before a nasty double-dip recession.

Increases in productivity are what makes America's

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The Independent Investor: Candidates & the Economy
By Bill Schmick,
01:29PM / Thursday, July 21, 2016

As the GOP political convention winds down and the Democrat convention gears up, we continue to hear a steady stream of economic "one liners" from the candidates. We all know that fixing the economy is one of the major issues of this campaign but so far the candidates are long on words and short on specifics.

"If I'm elected," promise both candidates, there will be more jobs, trade, wages and growth. According to them, all we need do is check the right boxes come Election Day and the rest will be a foregone conclusion. Historically, Wall Street and corporations vote Republican because the GOP is good for business, while labor, minorities and the "have

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The Independent Investor: Tax Breaks For College Savings
By Bill Schmick,
02:21PM / Friday, July 15, 2016

As the cost of college continues to soar in America, more and more states are offering tax breaks to families who are trying to save as much as they can for their kid's educational future.

The state of Massachusetts is deciding whether or not they will join the list this week.

The most commonly used vehicle for that purpose is the "qualified tuition plan," more commonly known as a 529 Plan. These plans are sponsored by states, state agencies or educational institutions and were originally authorized by Section 529 of the Internal Revenue Service Code. They are tax-free on a federal level and all but eight of the 42 states that have an income tax allow families and

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