Retirement planning services

We Are DWA

Dan White & Associates was founded in 1987, specializing in retirement and financial planning. We focus on addressing the distinctive financial needs of those nearing retirement and those who have already retired. Today, Dan White & Associates houses five financial professionals between our three offices located in Glen Mills, PA, Middletown, DE, and Lewes, DE. Within our offices, we proudly service over two thousand clients in the region.

Our main priority is getting a clear understanding of each client’s unique situation, by using a comprehensive questionnaire to aid us. Having full knowledge of our client’s situation ensures that we can better inform them about all of the possible financial strategies available to them. Next, we construct a plan together that will give our clients a clear path toward a safe and secure retirement. At our firm, we take a different approach than most advisors by priding ourselves in the educational aspect of retirement planning.

Find out how we can educate you and help make you more confident when it comes to making retirement decisions!

Complimentary Educational Seminars!

At Dan White & Associates, we conduct informational seminars throughout the Pennsylvania, Delaware, and Maryland areas. We typically host two or three seminars per week! These events cover a variety of financial and retirement planning topics, and can help educate you on the challenges you could face in retirement. Get advice from the professionals on our team that have expertise in retirement and financial planning.

The Latest From Our Blog…

Like A Redux of The Roaring ‘20s

May 13, 2024 In his 1859 novel, “A Tale of Two Cities,” Charles Dickens wrote, “It was the best of times, it was the worst of times.” He may as well have written that about today. We’ve heard from many sources how measures of net worth, stock prices, and housing...

May 13, 2024

Retired? It Could Be Time to Get a Job

May 06, 2024 The rising cost of living combined with restlessness is spurring older Americans to unretire. Are you retired? It could be time to get a job. More than four million Americans will reach age 65 this year, a typical retirement age. But many of them will...

May 6, 2024

Bubbles and Anti-Bubbles (Part Two)

April 29, 2024 This is a continuation from the first part of a two-part miniseries on bubbles and anti-bubbles. If we’re in a bubble now, what should you do about it? Acquire anti-bubble assets. Back in July 2021, buying energy stocks was an excellent anti-bubble...

Apr 29, 2024

Bubbles and Anti-Bubbles (Part One)

April 22, 2024 According to multiple experts, we’re in a bubble. One is portfolio manager Diego Parrilla, who wrote “The Anti-Bubbles: Opportunities Heading into Lehman Squared and Gold's Perfect Storm.” His book describes bubbles as the process by which asset...

Apr 22, 2024

Data Suggests the Labor Market Is Continually Cooling

April 15, 2024 The March 2024 jobs report showed how unemployment rose to 3.9% in February, up from 3.7% in January. It’s the highest figure since January 2022, when the rate was trending lower from the pandemic peak. The unemployment rate has incrementally moved...

Apr 15, 2024

Inflation is Always the Enemy of the Incumbent

April 08, 2024 Is it just me, or does the cost of pretty much everything seem to be on the rise? For instance, you used to be able to find deals at the grocery store. But not anymore. Now prices border on absurdity. Even Trader Joe’s is in on the act after...

Apr 8, 2024

An Increasingly Expensive Index

March 25, 2024 I’ve mentioned extreme stock market valuations before, and we seem to be in a similar situation now. A recent Wall Street Journal article showed how the S&P 500 is expensive using multiple valuation methods: The price-earnings ratio is above its...

Mar 25, 2024

“Magnificent” Concentration

March 18, 2024 Many market indexes weighted by market capitalization are top-heavy right now. A glaring example is the S&P 500, where the “Magnificent 7” stocks account for roughly 29.0% of the index’s total value. It’s interesting what has historically...

Mar 18, 2024

Companies Getting Lean and Mean

March 11, 2024 Struggling cosmetics company Estée Lauder’s stock is down more than half from its 2021 peak, yet it recently added $10 billion to its market capitalization. How did that happen? Well, the company posted solid earnings, beating analyst estimates. That...

Mar 11, 2024

Surprising Challenges Retirees Face

March 04, 2024 This may not seem obvious, but there are new, potentially surprising challenges retirees face when they stop working. Take stock market volatility. While you’re working, market gyrations aren’t noticeable. If they are, it’s not a big deal because...

Mar 4, 2024

Wall Street is Not on Your Side

February 26, 2024 It may seem hard to believe, but individual investors (so-called “retail investors”) should know that Wall Street is not on their side. The news media hardly mentioned it, but there’s been another recent example of Wall Street’s true relationship...

Feb 26, 2024

You Can’t Spend More Than You Bring In

February 19, 2024 How did our nation accumulate so much debt? This question is on the minds of many folks. Back in 2001, the Congressional Budget Office (CBO) estimated then-current policies would eliminate the national debt by the end of 2009. Instead, the...

Feb 19, 2024

Rate Cuts Could Be Further Down the Line

February 12, 2024 The Federal Reserve telegraphed interest rate cuts this year, which many people (including Wall Street) took to mean the cuts would commence quickly. But with gross domestic product at 3.3%, those rate cuts could be further down the line than...

Feb 12, 2024

“Groupstink” Feeding the Forecasts

February 05, 2024 Consensus almost seems universal that stocks will rise in 2024. Are the bears dead? Maybe they’re just hibernating. Don’t forget how wrong the confident consensus outlooks have been over the last two years. At the end of 2021, everyone was...

Feb 5, 2024

Today’s Signs of Corporate Stress

January 29, 2024 Throughout his history, legendary investor Warren Buffett and his company Berkshire Hathaway have raised huge piles of cash before bad economic times. Berkshire then deploys the funds at what it thinks is the right time towards the right companies....

Jan 29, 2024

Today’s Signs of Corporate Stress

January 22, 2024 Bankruptcies are bad. They certainly matter and aren’t looking good today. However, people often get too caught up with bankruptcies, especially when they’re only one piece of the puzzle. See, when companies are stressed, they have more options...

Jan 22, 2024

Nearly Impossible for Folks to Buy a Home

January 15, 2024 Higher interest rates have essentially stalled out the U.S. housing market. It could greatly damage the economy. Even after falling from a multi-decade high of 8.5% in October, the average 30-year fixed mortgage rate remains greater than 7.0%. And...

Jan 15, 2024

Masking Some Deeper Economic Challenges

January 08, 2024 While the outlook was doom and gloom for most of last year, stocks did great. The S&P 500 was up almost 25.0% in 2023. The popular “60/40 portfolio,” which consists of 60.0% stocks and 40.0% bonds, had a terrible year in 2022, losing 15.8%...

Jan 8, 2024

Stretched Well Beyond Their Means

December 26, 2023 Everyone from the government to everyday Americans seem to be spending like there’s no tomorrow. It’s led to annualized gross domestic product growth of 4.9% for the third quarter. There’s a problem though: the finances to back up the spending...

Dec 26, 2023

A Credit Market Freeze

December 18, 2023 It’s a bad time to need money. Case in point: for the second year in a row, high-yield bond issuances are falling. In 2022, issuances fell by more than $280 billion, or 12% of the total market size. This year they're set for another 10% decline....

Dec 18, 2023

The Corporate Borrowing Window is Closing

December 11, 2023 The Federal Reserve isn't trying to ruin the economy with its efforts. Still, it’s not willing to ease up on interest rates just yet. Fed chair Jerome Powell is more focused on the labor market than inflation at this point. He said he's willing to...

Dec 11, 2023

It’s Going to be an Ugly Quarter

December 04, 2023 Although momentum seems to be in equities investors’ favor, the Federal Reserve isn't budging on interest rates. Instead of easing credit availability, the central bank is holding strong at its tightest policy rate in quite a while. The Fed last...

Dec 4, 2023

The Indicator that Cried Wolf

Monday, November 27, 2023 The inverted yield curve is starting to resemble the tale of “The Boy Who Cried Wolf.” The yield curve is the difference between long- and short-term interest rates, often the 10-year and three-month U.S. Treasury yields. Normally,...

Nov 27, 2023

Four Major Triggers of a Recession

Monday, November 13, 2023 When it comes to the U.S. economy, it’s like we see one thing and hear another. For example, despite all sorts of concerning red flags, major institutions like Bank of America and the Federal Reserve are erasing recession from their...

Nov 13, 2023

The American “Sugar Daddy”

Monday, November 06, 2023 Every American financial crisis since the Federal Reserve’s inception in 1913 has seen the central bank bail out America's leading institutions when they needed it most. It’s like the Fed is the American “sugar daddy.” For instance, the...

Nov 6, 2023

It’s Better to Be Prepared Than Stunned

Monday, October 23, 2023 The most anticipated recession in modern history has yet to fully materialize. But I think it may still be coming. Interest rate hikes take a long time to work their way through economies. The Federal Reserve started hiking rates almost a...

Oct 23, 2023

Many Consumers Will Need to Make Tough Financial Choices

Monday, October 16, 2023 It could be time to review your budget. For most of the pandemic, Uncle Sam figured out ways to keep Americans spending. You probably remember. The stimulus packages kept spending strong, companies happy, employment high, and interest rates...

Oct 16, 2023

“Bidenomics” Doesn’t Seem to Be Providing a Cure

Monday, October 9, 2023 President Biden is seeking reelection, so the “good news” push is on. For example, his top advisors say the president has had many economic successes since he took office. They claim Mr. Biden's policies, dubbed “Bidenomics,” have created...

Oct 9, 2023

There’s No Law Saying Stocks Must Return 9% A Year

Monday, October 2, 2023 For the last 100 years or so, the U.S. equity market has returned about 9% annually. But that doesn’t mean it will do the same for the next 100 years. Of course, investment fund marketers say history will repeat itself. But I’m not so sure....

Oct 2, 2023

It’s Still Great to Be American

Monday, September 25, 2023 For all who say and think America is headed for the trash heap, take solace – the U.S. is still the most desirable place by several measures. For instance, our $25.5 trillion in gross domestic product (GDP) last year accounted for a...

Sep 25, 2023

New Territory for The Country’s Finances

Monday, September 18, 2023 U.S. credit card debt just topped $1 trillion for the first time ever. Balances grew by $45 billion in the second quarter alone, according to the Federal Reserve. On top of that, credit card delinquencies hit an 11-year high, meaning...

Sep 18, 2023

Why Are People Taking All This Risk?

Monday, September 11, 2023 There’s a rule of thumb to figure out how much stock you should own: subtract your age from 100 and the answer is the percentage of stocks that should be in your portfolio. Say you’re 60 years old, that means your portfolio should be...

Sep 11, 2023

It May Be Time to Moderate Your Market Optimism

Monday, August 28, 2023 Stocks are doing great. After a disastrous 2022, this year has been basically the opposite. However, I’m going to give you three reasons it may be time to moderate your market optimism. In my opinion, I think it’s safe to say at this point...

Aug 28, 2023

Another Brewing Crisis

Monday, August 21, 2023 Everyone thinks there will be a recession. I’m not sure because I think consumer spending could keep us afloat. But there is another brewing crisis that could plunge us into a recession: commercial real estate vacancies. During the first...

Aug 21, 2023

Public Policy is Having Some Ill-Intended Effects

Monday, August 14, 2023 Shelter costs are keeping inflation high. The housing market and tax policy aren’t helping either. The consumer price index (CPI) attempts to represent a typical U.S. household’s spending. Housing is the single biggest expense for most...

Aug 14, 2023

Trapped in Your Own Home

Monday, August 7, 2023 I saw in the news recently how there isn’t much housing inventory available for homebuyers right now because people don’t want to sell and get rid of their sweetheart mortgage deals. Homeowners got a 2% mortgage during our prolonged period of...

Aug 7, 2023

Bankruptcies are Skyrocketing

July 24, 2023 The Federal Reserve’s tightening is beginning to squeeze businesses as more than twice as many corporations filed bankruptcy this year than at the same point in 2022. Chapter 11 bankruptcy filings are up significantly – to the highest rate since 2010....

Jul 24, 2023

Older Americans Are Unretiring Due to Inflation

July 17, 2023 We know the Federal Reserve has been raising interest rates to get inflation under control. One result of these efforts is that many older Americans are unretiring due to inflation and worsening financial positions. According to a recent survey by...

Jul 17, 2023

The Very Definition of Narrow Market Breadth

July 10, 2023 For as great as the market rally has been in 2023, it’s been awfully narrow in terms of leadership. Most of the gains have come from mega-cap technology favorites, which returned 32.3% through the end of May. There was also a big assist from the...

Jul 10, 2023

To Really Judge a Market, It Takes Time

July 03, 2023 You may have heard we’re in a bull market. Apparently, the worst is behind us, risk is off, and we're ready to roll (please note my sarcasm). Look no further than the Nasdaq Composite Index from January to mid-June 2023. It was up 27.5% and logged six...

Jul 3, 2023

Not Rewarding the Right Behaviors

June 19, 2023 Americans with good credit are being penalized while bad credit habits are being rewarded. To impart more social justice into the home ownership market, President Biden has implemented a new policy which can penalize home buyers with good credit and...

Jun 19, 2023

Dollar Should Keep Its Place as World’s Reserve Currency

June 12, 2023 I’ve heard how people are worried about the U.S. dollar losing its status as the world's reserve currency. They point to changing dynamics, like oil market deals. I don’t buy it. There's long been speculation over the dollar, but it has strengthened...

Jun 12, 2023

Austerity Would Be Rare

June 5, 2023 The U.S. exceeded the current debt ceiling in January. Since then, “extraordinary measures” have been authorized to pay the bills, but they’re supposed to run out this month. That could mean default. The outcome is predictable. Democrats and...

Jun 5, 2023

Inflation is Decreasing, But America’s Going Broke

May 22, 2023 We’re in a good news-bad news situation economically. The good news is inflation dropped to 5.0% in March, which is down from its 9.1% high in June 2022. The bad news is the American credit bubble is back because of the Federal Reserve’s...

May 22, 2023

Too Many Americans Aren’t Taking Retirement Savings Seriously

May 15, 2023 There’s a retirement problem in America. That is, not enough people are adequately preparing for life after they stop working. Credit Karma did a survey recently that found almost 20% of Americans aged 59 and up have no retirement accounts. Even worse,...

May 15, 2023

There’s No Easy Way Out with Social Security Reform

May 08, 2023 Congress may increase the full Social Security retirement age to 70. What are the implications? When the retirement age was lifted in France, citizens protested. It remains to be seen whether that will happen here, but something must give because...

May 8, 2023

Should You Worry About Your Social Security Benefits?

May 01, 2023 In March the latest report on the financial health of the Social Security system was released. It’s officially called "The 2023 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust...

May 1, 2023

President Biden’s Re-Election Platform

April 24, 2023 President Biden introduced a $6.89 trillion budget proposal. Much of it was rejected last year by a Democrat-dominated Congress, so in a House of Representatives under Republican control, there is hardly any chance it will pass. In truth, it simply...

Apr 24, 2023

Crushing Inflation is Wreaking Havoc

April 17, 2023 The American middle class is under immense pressure from inflation (which the Federal Reserve is trying to fix, though causing collateral damage in the process). It wasn’t too long ago that a six-figure salary would provide a comfortable lifestyle....

Apr 17, 2023

Actions Have Consequences

April 10, 2023 When the Federal Reserve enters an interest rate hiking cycle, it’s said the bank continues until something breaks. Well, in the Fed’s quest to tame inflation through rate increases, something might have broken with banks. Last year was a tough one...

Apr 10, 2023

Student Loan Forgiveness Has Hit a Snag

April 03, 2023 Last August, the Biden administration announced it would forgive $10,000 in federal student debt ($20,000 for Pell Grant recipients) for borrowers earning less than $125,000 annually. The White House said the pandemic justified student loan...

Apr 3, 2023

Corporate Greed at Its Finest

March 27, 2023 We’re led to believe that shareholders benefit from corporate stock buybacks – when publicly-traded companies buy their own shares on the open market. However, despite Warren Buffett’s claims, firms’ own executives are the ones who really seem to...

Mar 27, 2023

You Might Live Long, But Your Money Might Not

March 20, 2023 Many Americans are living longer than expected. But there’s a difference between how long you’re likely to live, and the probability of living much longer. And if you’re unprepared, it can lead to financial regret. Sometimes people claim Social...

Mar 20, 2023

Good News, Bad News

March 13, 2023 I’ve been asked what’s happening lately with interest rates and inflation. To me, it’s a case of good news, bad news. The good news is inflation has fallen significantly since June 2022, as measured by the Consumer Price Index (see chart below). Many...

Mar 13, 2023

The Worst May Still Be Ahead

March 06, 2023 January featured rock-solid market performance, which led people to think the worst is behind us. But that may not be true. At the end of January, the Nasdaq-100, a stock index that includes the largest non-financial firms on the Nasdaq exchange, was...

Mar 6, 2023

New Law Allows Tax-Free Retirement Rollovers from 529 Plans

February 27, 2023 Last week we covered some major changes resulting from the new SECURE ACT 2.0 law. Now I’d like to dive deeper into one of the specific provisions – allowing rollovers from 529 college funds to Roth individual retirement accounts (IRAs) (I also...

Feb 27, 2023

Retirement Changes Ahead

February 20, 2023 With the late 2022 adoption of a $1.65 trillion omnibus package to keep the government funded, lawmakers made the SECURE ACT 2.0 the law of the land. The new law includes big changes to retirement account rules. Many of them affect workplace plans...

Feb 20, 2023

Household Debt Hits Record High

February 13, 2023 Personal finance company NerdWallet did a study on American household debt and credit card use. The results are a bit somber. For 2022, NerdWallet found the average American household has outstanding debt of $165,388. That’s up 7.65% from 2021 and...

Feb 13, 2023

Debt Ceiling – What’s the Point?

February 6, 2023 The U.S. debt ceiling is the maximum amount of money the government can borrow via issuing bonds. It is intended to maintain fiscally responsibility. But as it is today, the debt ceiling makes little sense. See, the government already hit the...

Feb 6, 2023

Is There a Limit to the Budgetary Madness?

January 30, 2023 As of this writing, the national debt stands at more than $31 trillion and it’s growing fast. Yet our fiscal budget deficit fell sharply in 2022. The national debt continued to rise because the government continues to spend more money than it...

Jan 30, 2023

The Spending Doesn’t Stop

January 23, 2023 Congress crafted a record federal spending bill for fiscal year 2023. The legislation totals roughly 4,000 pages (who actually read all that?!) and calls for $1.7 trillion in fresh federal government funding. It includes $772 billion for...

Jan 23, 2023

America’s Net Worth Plunged in 2022

January 16, 2023 Interest rates are up, and the stock market is down. Perhaps we shouldn’t be surprised then that America’s net worth plunged in 2022, per Federal Reserve data. The descent is primarily due to weakness in the economy earlier this year and a bear...

Jan 16, 2023

Rates, Recession, and Restraint

January 9, 2023 As we start 2023, everyone wants to know how high will interest rates go and if there will be a recession. Time will tell, of course. But a Federal Reserve official warned that the federal funds rate might have to hit 5-7% to get inflation under...

Jan 9, 2023

U.S. Markets Perhaps Taking Japanese Path

December 26, 2022 We might be in for quite a ride to nowhere with the stock market over the next several years. More specifically, I mean we might enter and remain in a sideways market. That’s when major stock indexes fluctuate up and down, but don’t create new...

Dec 26, 2022

Only the “Eye of the Storm”?

December 19, 2022 According to one prominent prognosticator, your savings are at risk of succumbing to another huge crash. Yeah, sure. Who is saying this? It’s someone to take seriously. It’s someone who predicted the collapse of the housing industry and resulting...

Dec 19, 2022

Flashes of Positivity, Though Strong Headwinds Endure

December 12, 2022 The latest stock market rallies could be more fragile than you think. As I mentioned last week, a positive dose of inflation news sent markets soaring, even though year-over-year inflation remains at its highest levels since the 1980s. Despite...

Dec 12, 2022

We’re Not Out of the Inflationary Woods Yet

December 05, 2022 There’s been positive news on inflation. Unsurprisingly, many stock traders and opinionators acted as if the “good ol’ days” of constantly rising markets were back. Peak inflation must be behind us, right? Well, a positive inflation reading...

Dec 5, 2022

Bear Markets Rally to the Bottom

November 28, 2022 September was bad for stocks. But an October rebound made everyone think all is well and it’s time to jump back in the market. That might be premature. While history isn’t guaranteed to repeat, there are certainly lessons to be learned from...

Nov 28, 2022

Strong Dollar Helps and Hinders

November 21, 2022 The Federal Reserve has been increasing interest rates to battle inflation. Unfortunately, it’s not evident yet if those efforts are working. The last few consumer price index (CPI) reports, which track prices consumers pay on goods and services,...

Nov 21, 2022

Rising Rates Cause Housing Shift

November 14, 2022 The Federal Reserve has been hiking interest rates for most of 2022. We’re now starting to see the nasty ripple effects of these moves. The average rate on the 30-year fixed mortgage, which is one of the most popular home loans, climbed to more...

Nov 14, 2022

Social Security Ups and Downs

November 7, 2022 The Social Security Administration announced a cost of living adjustment (COLA) of 8.7% for fiscal year 2023, meaning Social Security checks soon will rise significantly. There’s only ever been a larger COLA rise three times, all during the...

Nov 7, 2022

Downward Debt Spiral

October 24, 2022 We see a lot of comparisons between what’s happening today and what occurred in the 1970s because it was the last time consumer price inflation was anywhere near this high. But unless you were around (and probably driving) back then, it might go...

Oct 24, 2022

Rhetoric Hides Harsh Inflation, Employment Realities

October 10, 2022 We’ve been told inflation is at a 40-year high. That’s bad enough, but if it’s calculated using traditional methods, the outlook is even worse. At the end of June, the Consumer Price Index (CPI) stood at 9.1%. That was the biggest 12-month price...

Oct 10, 2022

The Dark Sides of Loan Forgiveness

October 03, 2022 President Biden’s student loan forgiveness plan wipes away $10,000 or $20,000 per student, depending on the type of loan, for people making $125,000 or less ($250,000 or less for married couples). It’s estimated to cost at least $400 billion but...

Oct 3, 2022

Headed back to Oz

September 26, 2022 See the man behind the curtain? Pay no attention to him. We’ve heard that one before, back in Oz, right? Well, as the government points to one month of favorable employment figures, it’s essentially telling us exactly that – we can’t be in a...

Sep 26, 2022

American Households Taking on More Debt

September 19, 2022 The nasty ripple effects of inflation can spread wide and we’re seeing it now with American households. The continual rising prices, especially on necessities like food and gas, are starting to eat into the average American’s finances. For...

Sep 19, 2022

Truth, Tightening, and Mistakes from the Past

September 12, 2022 In the movie “A Few Good Men,” actor Tom Cruise demands the truth from Jack Nicholson while on the witness stand during a heated trial. Nicholson then famously screams, “You can’t handle the truth!” Right now, it feels like the American people...

Sep 12, 2022

One of the Worst Market Stretches of All Time

September 05, 2022 The first half of 2022 was horrible for financial markets. It showcased some of the worst performance ever for both stocks and bonds. Both asset classes falling at the same time doesn’t happen often, especially for two quarters in a row (just the...

Sep 5, 2022

Where the Inflation Wildfire Began

August 22, 2022 When should a sitting president be held accountable for economic performance? It’s not an easy question, but I think right now could be such a time. President Biden said his policies haven’t caused the horrible inflation we’ve experienced. Yet,...

Aug 22, 2022

Clarifying the 2015 Social Security Changes

August 15, 2022 The Budget Act of 2015 was the last legislation that made major changes to Social Security. The main thrust behind the legislation was to forbid strategies that took advantage of spousal benefits (the use of these strategies was unforeseen when the...

Aug 15, 2022

Biggest Bursting Bubbles are Long, Painful

August 08, 2022 We’re experiencing a big asset bubble burst – maybe one of the biggest in history – and it could have longer to go. Over time, the largest bubbles in financial history didn’t end with anything like the S&P 500 Index’s six-month drawdown of 24%,...

Aug 8, 2022

2022: A First Half Recap

August 01, 2022 Let’s just be frank – the first six months of this year were awful for most stock and bonds investors. The S&P 500 has lost more than 20% of its value so far this year. That puts us in a bear market, which we haven’t truly experienced since the...

Aug 1, 2022

The End of “Easy Money”

July 25, 2022 I bet you can guess what one of the worst-case scenarios for the stock market, one that would make for deep losses. In fact, it’s happening right now. It’s rampant inflation. Inflation was cooking at an 8.6% annual rate in May, according to government...

Jul 25, 2022

Is Today’s Inflation Worse? It Might Be

July 18, 2022 In the 1970s, the U.S. experienced inflation to the tune of about 14%. Today we’re “only” around 8% inflation, so everything is fine, right? Not necessarily. Inflation now is coming far more quickly than in the 1970s. Consider that inflation began at...

Jul 18, 2022

Back Down to Earth, Swiftly

July 11, 2022 It’s ironic, but it seems economists are the last to the party when it comes to the economy. For instance, Treasury Secretary Janet Yellen recently acknowledged again her misdiagnosis of inflation as transitory last year. She also said expectations of...

Jul 11, 2022

How Do We Fix Social Security?

July 4, 2022 The financial report for the Social Security program was released recently and the results are grim. The purpose of the report is to communicate the financial condition of the Social Security system over the next 75 years. The report is aimed at...

Jul 4, 2022

When the Solution is Worse than the Problem

June 27, 2022 State governments are handing out tax breaks to residents to help with inflation. Not long ago the Canadian province of Quebec, which is like a large U.S. state, was handing out $500 to every taxpayer who earned less than $100,000 annually. But it’s...

Jun 27, 2022

A Tough Year for Billionaires

June 20, 2022 The number of billionaires in the world and their collective net worth dropped in 2022, according to Forbes. The war in Ukraine, COVID-19, and the stock market correction have all hit the billionaires big. I know, boo hoo. Please know, this isn’t an...

Jun 20, 2022

The “60/40” Investment Portfolio is Likely History

June 13, 2022 Stocks are having a terrible year so far. But bonds are doing worse. There's an old saying on Wall Street, attributed to Andrew Mellon, that says, “Gentlemen prefer bonds.” And over the past 20 years, bonds have been big winners. Well, it’s all...

Jun 13, 2022

Stocks Trail Bonds Over Past 20 Years

June 06, 2022 Here’s a shocker most people probably don’t realize – bonds have outperformed stocks over the past two decades. This is rare and unlikely to continue. I would argue the four-decade long bond bull market is done. Even worse is that some traditionally...

Jun 6, 2022

Confidently Incorrect for the Long Haul

May 23, 2022 The Federal Reserve should win the award for the best place to work. It’s so good at the Fed, people don’t leave! This is going to sound like I’m bashing the Fed and its governors, but that’s not my intention. I’m pointing out some observations and how...

May 23, 2022

Federal Eyes on Taxpayer Wealth

May 16, 2022 The federal budget for fiscal year 2023 unveiled by President Biden proposed a huge new tax increase on America's wealthiest citizens. The administration labeled it a “Billionaire Minimum Income Tax” and said it brings fairness to the tax code by...

May 16, 2022

Americans Say They’re Worse Off

May 09, 2022 According to a March 2022 poll by research firm tippinsights, many Americans say they’re worse off than a year ago. Keep in mind, we just enjoyed the strongest economy in four decades. In 2021, gross domestic product was up 5.7%, and wages grew 4.7% on...

May 9, 2022

Spending Stays Hot, Despite Inflation

May 2, 2022 We’ve talked about this before, but it just won’t go away – inflation. Americans are staring at sticker shock on pretty much everything. The dollar doesn’t go as far as it did even a year ago. So how is it affecting our shopping habits? We’ll examine...

May 2, 2022

Simple Rule for Bear Market Investing

April 25, 2022 It seems we’re headed for a bear market in stocks. The Federal Reserve must raise interest rates to defeat inflation, which is at a 40-year high. As a result, monetary policy will likely tighten, money will leave the market (or less will enter), and...

Apr 25, 2022

U.S. Household Debt is Soaring

April 11, 2022 American households added more than $1 trillion in new debt last year, the most in any year since 2007. Total household debt rose by $1.02 trillion in 2021, to $15.6 trillion overall, the highest total ever recorded. It was boosted largely by higher...

Apr 11, 2022

Nothing Normal About National Debt

April 04, 2022 Our national debt recently passed $30 trillion, and nobody cares. There was barely a blip in the mainstream media. Most Americans have no idea how much we owe or that it’s virtually impossible we’ll ever pay it off. In fact, I think the only way the...

Apr 4, 2022

Off Track with a Smaller Big Mac

March 28, 2022 There’s an old economic indicator called The Big Mac Index, which is a lighthearted analysis from The Economist that compares purchasing power parity via the price of a McDonalds Big Mac hamburger. The index compares the Big Mac price in different...

Mar 28, 2022

Retirees with Guaranteed Income Comfortable Spending More

March 21, 2022 When markets rise, the case for retirees spending more strengthens. Yet, many retirees are hesitant to spend. Why? We don’t want to run out of money! We don’t know how long we’ll live, how much things will cost, or how our investments will perform....

Mar 21, 2022

You Can’t Miss What You Don’t Have

March 14, 2022 There’s a secret to investing that’s followed by the best, including Warren Buffett, Charlie Munger, George Soros, Ray Dalio, and even Albert Einstein. What is it? Learn what to avoid. Most financial advice is positive because that’s what resonates...

Mar 14, 2022

Buy High, Sell Low, Don’t Diversify is an Unfortunate Reality

March 07, 2022 What’s given can be taken away. It’s certainly true in stock market investing. Take money inflows and outflows from active and passive exchange-traded funds (ETFs), as well as funds that track market indexes, for instance. Last year, net inflows into...

Mar 7, 2022

Interest Rate Hikes Could Sink Federal Budget

February 28, 2022 Federal Reserve Chair Jerome Powell said the economy no longer needs or wants highly accommodative monetary policies, so the Fed is going to raise interest rates to curb inflation. However, higher interest rates mean higher borrowing costs. As a...

Feb 28, 2022

Job Market on Fire

February 14, 2022 Choose any metric you’d like, it’s clear the U.S. job market is strong and getting stronger. The pandemic introduced a new set of labor dynamics. With the labor market being extremely tight right now, employers are hanging on to existing workers...

Feb 14, 2022

The IRS is a Mess

February 7, 2022 The IRS had a terrible 2021 and this year looks even worse. Millions of people experienced unusually long processing times last year. Lengthy waits, delayed refunds, and general confusion made interactions with the IRS more frustrating than ever....

Feb 7, 2022

A Possible Snap Back Ahead

January 31, 2022 A bullwhip effect may be coming to the U.S. economy. I’m talking about the full Indiana Jones whip crack treatment. In economic terms, that means distorted demand misinforms the supply chain, turning shortages into surpluses and “out of stock” into...

Jan 31, 2022

No Housing Slowdown in Sight

January 24, 2022 House prices rose almost 20% in 2021. What can we expect this year? Many buyers know about bidding wars. They were common last year. So, it’s not surprising to see a new record 19.8% increase in home prices between Aug. 2020-Aug. 2021. There’s been...

Jan 24, 2022

User Error Can Be Costly

January 17, 2022 Beginning in the 1990s, DALBAR Inc.’s Quantitative Analysis of Investor Behavior (QAIB) report is an annual report on individual investor behavior. It has been updated every year for 27 years to reveal the performance of the average annual equity...

Jan 17, 2022

Picking Stocks? You Have a 2.4% Chance of Winning Big

January 10, 2022 It’s the first post of the year and I’d like to provide some perspective, and depending on your point of view, some encouragement. You probably already knew this, but just in case, I want to make it clear how picking the best stocks is extremely...

Jan 10, 2022

A Common Concern Among Americans

December 27, 2021 To end the year, let’s take a look at America and the concerns of its citizens. In a recent poll, Americans were asked about their top worries and the answers were sorted by political party. I thought most people would worry about the same things....

Dec 27, 2021

Quicken the Taper to Shrink the Sheet

December 20, 2021 The Federal Reserve has started to “taper.” That means it is reducing its enormous buying of bonds by $15 billion per month ($10 billion in Treasury bills, $5 billion in mortgage-backed securities). The reduction should be complete around July...

Dec 20, 2021

Help Wanted Signs Everywhere

December 13, 2021 Take a look across the country. Almost everywhere, including Amazon, Starbucks, UPS, IBM, and many more, there is a labor shortage along with a resulting hike in wages aimed at attracting and retaining workers. McDonald's raised hourly wages by an...

Dec 13, 2021

The Holiday Travel Crisis

December 6, 2021 Recently, the busy travel period between Thanksgiving and New Year's Day kicked off. But the airline industry is facing a big issue – labor problems. We've all heard about American Airlines and Southwest Airlines cancelling thousands of flights....

Dec 6, 2021

The Ticking Taper Clock

November 22, 2021 The Federal Reserve should begin scaling back some of its extraordinary pandemic stimulus measures soon. It has foreshadowed a sunset on its huge bond buying program, which should help avoid another “taper tantrum,” like in 2013. Back then,...

Nov 22, 2021

Quick Economic Turn Invites Uncertainty

November 15, 2021 Unfortunately, the U.S. economy has taken a significant turn downward. The economy grew by a 4.3% annualized rate in the fourth quarter of last year, 6.3% for first quarter of 2021, and 6.7% in second quarter of this year. The growth since...

Nov 15, 2021

What is “Infrastructure”?

November 8, 2021 Unsurprisingly, the infrastructure bill boondoggle remains stuck. The Build Back Better Act is 2,466 pages long and aims to expand our social safety net and combat climate change. If it passes, it will be the largest government spending program...

Nov 8, 2021

A Costlier Christmas

November 1, 2021 Come Christmas, I wouldn’t be surprised to see gas around $5 per gallon and oil at 20 times that - $100 per barrel. Everyone will feel it, and in some parts of the country, they already are. This should surprise nobody. Once the economy got up and...

Nov 1, 2021

The Pandemic May Have Killed College

October 25, 2021 When the COVID-19 pandemic forced many colleges and universities to switch to virtual learning, it likely killed their business model. This spring, college enrollments dropped by more than 600,000, the largest decline ever. This means fewer...

Oct 25, 2021

Inflation, Scarcity, and the Costlier Burger

October 18, 2021 Inflation is all over the place. On top of that, you may have noticed some empty shelves in your local stores. My wife called me the other day and said she could hardly get anything at the grocery store. Well, as you may know, the first rule of...

Oct 18, 2021

Quick Economic Turn Invites Uncertainty

November 15, 2021 Unfortunately, the U.S. economy has taken a significant turn downward. The economy grew by a 4.3% annualized rate in the fourth quarter of last year, 6.3% for first quarter of 2021, and 6.7% in second quarter of this year. The growth since...

Oct 15, 2021

“Tax the Rich” Taxes Everyday Americans

October 11, 2021 A lynchpin in the hopeful passage of the $3.5 trillion infrastructure bill is that “the rich” will pay for it all. Well, I wouldn’t count on it. Tax-happy folks say it’s only fair to make wealthy Americans and corporations pay for everything. I’m...

Oct 11, 2021

Is the Government Running Out of Money?

October 4, 2021 The clock is ticking on the government’s cash balance. The debate on the federal debt ceiling, which is the government’s Congressionally approved spending limit, is an ongoing political game of hot potato. Congress gets dangerously close to the...

Oct 4, 2021

The Car Market is Insane

September 27, 2021 This is a terrible time to buy a car. Not only are dealer inventories low, prices for new and used vehicles are through the roof. The inflation in the automotive market is borderline astounding. A big reason is the industry has been hobbled for...

Sep 27, 2021

From Hypergrowth to No Growth

September 20, 2021 I’m not sure I want to know what would happen if the world, the global economy, businesses, stock markets, governments, and everything just stopped growing, though I may find out. I’m not a growth zealot. I like growth, but I also know it ebbs...

Sep 20, 2021

Trust, Common Ground, and Confidence in America

September 13, 2021 According to Gallup's annual survey that ranks confidence in some of our most important institutions – including police, churches, labor unions, public schools, television stations, newspapers, and even Congress – Americans are less trustworthy....

Sep 13, 2021

“Step Up Basis” Repeal Stepping Down

September 7, 2021 President Biden hasn’t been able to pass many tax increases. We should all be happy. One tax benefit that remains (for now) is the continuation of the so-called “step up basis” when inheriting an asset. If repealed, the economic consequences would...

Sep 7, 2021

Don’t Believe TINA

August 23, 2021 Today’s market often elicits the acronym TINA – there is no alternative – as in there is no alternative to stocks if you want to make money. I don’t agree. Taking on immense risk isn’t everyone’s cup of tea. To such people, I say take solace, there...

Aug 23, 2021

The Case for Health Savings Accounts

August 16, 2021 According to Fidelity, a 65-year-old, opposite-gendered couple retiring this year can expect to spend $300,000 in healthcare and medical expenses throughout retirement. For single retirees, it’s $157,000 for women and $143,000 for men. That’s a lot...

Aug 16, 2021

Is this Inflation Really Temporary?

August 9, 2021 The government keeps telling us the inflation is “transitory,” or temporary. But is it? The Commerce Department reported the consumer price index (CPI) jumped to an annualized rate of 5.4% in June, the highest level since August 2008. Core CPI, which...

Aug 9, 2021

The Assault on Wealth Continues

August 2, 2021 The quest to tax private wealth experienced two recent victories. First, at the G7 meeting in England, world leaders (including President Biden) endorsed the creation of a new worldwide tax regime, starting with a 15% global minimum tax on all...

Aug 2, 2021

Three Steps to Inflation

July 19, 2021 There’s a threat coming for your portfolio – inflation. Inflation hampers those who live on savings and generate income from wealth. If you planned to earn a certain amount of money per year from investments, that same amount is now worth less. For...

Jul 19, 2021

The Modernity of Money

July 12, 2021 Maybe you’ve heard of modern monetary theory. Basically, it argues that developed nations with their own sovereign currencies should be able to print as much money as they want, and federal deficits, however large, should not matter. In other words,...

Jul 12, 2021

Endless Debt

July 6, 2021 It’s time to discuss a question I've been asking for 40 years – when will our national debt create a financial crisis? This topic became interesting to me when Ronald Reagan was president because I was a big Reagan supporter. That is, I was a supporter...

Jul 6, 2021

Speeding Up the Trickle Down

June 28, 2021 While on one hand President Biden says America is ready to take off, on the other he seems to want to take from earners and redistribute that wealth to non-earners. The president wants the IRS to target high-earning Americans he thinks may be...

Jun 28, 2021

Taxation Driving Relocation

June 21, 2021 The average American will pay $525,037 in taxes over their lifetime, according to a new study by financial technology company Self. For the purposes of the study, income taxes, state and local taxes, property taxes, sales taxes, and taxes on...

Jun 21, 2021

Inflation Psychology is Not “Transitory”

June 14, 2021 Inflation is here folks. The latest inflation data show readings of 4.6% on the Consumer Price Index and 6.2% on the Producer Price Index, which are both huge jumps. Everywhere you read, the Federal Reserve said the inflation is transitory, as in it...

Jun 14, 2021

The Difficulty of Hiring

June 7, 2021 The April 2021 jobs report may be the most disappointing of all time. Analysts expected the U.S. to add a million new jobs, but it was a paltry 266,000. The mismatch between consensus expectations and reality was the largest since 1998. Worse yet, the...

Jun 7, 2021

Fumbling Deeper into Uncertainty

May 24, 2021 There is a confluence of potentially disastrous financial events ahead, and we seem to be barreling head-first into the storm without regard. Let’s start with business taxes. U.S. Treasury Secretary Janet Yellen’s call for a minimum global corporate...

May 24, 2021

Stepping On the “Stepped-Up Basis” Rule

May 17, 2021 It’s a bit odd when the party claiming to be for everyone – the Democratic Party – wants to eliminate a law from 1954 that benefits almost all Americans. But here we are. President Biden, along with Democrats in the House and Senate, want to eliminate...

May 17, 2021

We Can’t Withstand Another New Deal

May 10, 2021 The current policies of taxing and spending are like playing with financial fire – eventually you’ll get burnt. In 1933, with the country mired in the Great Depression, President Franklin D. Roosevelt set his sights on creating the most comprehensive...

May 10, 2021

Spending Could Exceed Output

May 03, 2021 President Biden must think his access to taxpayer money is limitless. According to the Congressional Budget Office, the federal budget deficit for fiscal year 2021 ballooned to $1 trillion in five months (October 2020 – February 2021), which is the...

May 3, 2021

Modern Debt Apparently Doesn’t Matter

April 26, 2021 As our post-pandemic world evolves, one thing seems clear – we are encompassed in what’s called Modern Monetary Theory (MMT). The concept behind MMT is debt doesn't matter for those issuing the world’s reserve currency. In MMT, the only thing that...

Apr 26, 2021

The Business Cycle is Broken

April 19, 2021 Companies have historically gone through a “business cycle” with periods of growth, contraction, stagnation, and so on. In the past, we’d have expansions and recessions, and authorities would generally stay out of the way to let nature take its...

Apr 19, 2021

Like Social Security for Kids

April 12, 2021 In a sky-is-blue revelation, it turns out Americans who are eligible for $1,400 direct payments under the American Rescue Plan support direct government payments to individual Americans. When including the latest nearly $2 trillion stimulus plan,...

Apr 12, 2021

Debt as Rocket Fuel

April 5, 2021 It seems the U.S. economy is set to take off. The Commerce Department reported in February that fourth quarter 2020 gross domestic product (GDP) rose 4.1 percent, which was stronger than anticipated. As a result, many forecasters are raising their...

Apr 12, 2021

Recovery Efforts Widen American Divide

March 22, 2021 We’ve discussed letter-based economic recovery patterns in the past. This is when a recovery path takes the form of a letter in graphical form. Currently we seem to be in a K-shaped recovery where the upward facing part of the “K” resembles mostly...

Mar 22, 2021

Panic, Euphoria, and Grandma’s Stock Picks

March 15, 2021 There is good news on the pandemic. Vaccinations are up. Cases are down, as are deaths. This brings hope for everyone. But for the stock market, it’s as if the pandemic never happened, save for a few weeks of plunging prices last spring. And now...

Mar 15, 2021

9 Million Reasons There Could Be Another Recession

March 8, 2021 Here’s one for the “this could never be good news” file. By the end of the year, a third of U.S. small businesses could close, according to the troubling findings of a Federal Reserve report on American small businesses. The Fed stated around 9...

Mar 8, 2021

The Worst Kind of Inflation

March 1, 2021 Not so long ago, retiring with a comfortable nest egg took time, but it was possible. From the late 1960s to 2007 the average interest paid on a 10-year government bond was 7 percent. So, if you worked hard and put your money away in a bond portfolio...

Mar 1, 2021

An Electrifying Bubble Waiting to Burst?

February 22, 2021 If you don’t think there’s a bubble brewing in the stock market, look no further than Tesla. The electric car maker’s stock opened 2020’s first trading day at a split-adjusted $89.40 per share. It closed on the last trading day of 2020 at $705.67...

Feb 22, 2021

The Exploding American Poverty Rate

February 15, 2021 As the COVID-19 pandemic spikes again and federal stimulus trails need, the U.S. poverty rate is exploding at a rate never seen before. In fact, nearly 8 million Americans have fallen into poverty over the last five months alone, a new study...

Feb 15, 2021

Airlines Creeping Back, But It’s a Long Haul

February 8, 2021 Many people travelled over the holiday period, prompting a rebound in U.S. air traffic. Looking at Transportation Security Administration (TSA) checkpoint crossings on a year-over-year basis, after initially dropping by more than 90 percent during...

Feb 8, 2021

The Outlier Year’s Outliers

February 1, 2021 For many reasons, 2020 won’t soon be forgotten. But it stood out in history because five events occurred that we’ve never encountered and may never see again (though nobody knows the future). Economic Whirlwind The decline in U.S. gross domestic...

Feb 1, 2021

The Misguidedness of Forgiving Student Loans

January 18, 2021 Want to hear a universally bad idea? Many of the most liberal Democrats want to give away $1.6 trillion in outstanding student loans. The average student loan debt is $35,000. President-elect Joseph Biden wants to forgive $10,000 of every student...

Jan 18, 2021

Five Reasons for a Rapid Rebound

December 28, 2020 To end the year, here’s some positive news – Joe Biden is about to inherit a dream economy. We’re led to believe President-elect Biden will be commanding a damaged, COVID-riddled economy that could take years to return to prosperity. And Mr. Biden...

Dec 28, 2020

Restrictions, Lack of Support Killing Businesses Nationwide

December 21, 2020 According to Yelp’s most recent economic impact report, more than 163,000 U.S. businesses have shut down due to the COVID-19 pandemic this year. That’s bad, but it gets worse. Yelp also reports 98,000, or 60 percent, of those businesses are gone...

Dec 21, 2020

Local Governments Face Big Problems

December 14, 2020 There is a budding issue in local and state governments. See, the economic balance that we saw in the summer seems to have run its course. I think we know why – the growth was mostly artificial, generated by money consumers received from...

Dec 14, 2020

A Tale of Two Senates

December 7, 2020 Joe Biden is going to be the president, and a lot of what I read indicates he could well enter office as the weakest president since Jimmy Carter. Now, presuming the Senate stays Republican (which is not a given because of two January runoff races...

Dec 7, 2020

Big Fish Get Bigger

November 23, 2020 COVID-19 unleashed a tsunami of destruction. Whole industries are transforming, and some are being wiped out altogether. The industry that’s perhaps been damaged most by the pandemic is the restaurant business. It’s been gutted. According to Yelp...

Nov 23, 2020

Social Security, Medicare Changes for 2021

November 9, 2020 There are important updates to Social Security and Medicare on the way – some good, some bad. Here’s a quick breakdown of what’s changing. In welcome news, Social Security checks will rise 1.3 percent in 2021. The cost of living adjustment (COLA)...

Nov 9, 2020

Dan White is an Official Ed Slott Master Elite IRA Advisor

As a member of Ed Slott’s Elite IRA Advisor Group℠ Dan White trains with Ed Slott and his team of IRA Experts on a continual basis. All members of Ed Slott’s Elite Advisor Group pass a background check, complete requisite training, attend semi-annual workshops and webinars, and complete mandatory exams. They are immediately notified of changes to the tax code and updates on retirement planning, so you can be sure your retirement dollars are safe from unnecessary taxes and fees.

Proud to be featured in: