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August 3, 2011

The Debt Deal

There is a lot of commentary about the debt deal.  The more I read and hear about the debt deal, the more obvious it is that there is not enough known about the deal to act.  This results in more uncertainty.  That makes planning more important and difficult.
The situation in the rest of the world has an increasing impact on us.  Geopolitical and financial problems exist around the world.  This adds to the uncertainty and further complicates our plannings.
Before doing anything, review your situation.  You should look beyond your income sources, expenditures, assets and liabilities.  You also need to review your financial goals and prioritize them.  Beyond that you should consider other factors  including; your health, expected longevity and your realization of how much risk you can tolerate.  When thinking of risk, take note not only how much loss you can stand.  Also reflect on how you react to fluctuations in the stock market, interest rates, etc. 
This is not the time for knee-jerk reactions.  You must consider how the different aspects of your plan can be impacted by any action you take. 
A recent Smart Money article provies a summary of some of the areas you need to consider.   READ MORE  

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