Woods Financial Blog

Various Types of “Economies”

July 31, 2018

As recently as five years ago, few people had heard of emerging businesses like Airbnb and Uber that allow proprietors to share their personal residences and cars to generate income. This business model is now commonly referred to as the “sharing economy.” 1 However, just as capitalism morphs, so does the concept of sharing. For…

Family Business Considerations

July 24, 2018

  Family businesses that manage to survive generation after generation leave not only a family legacy, but also the potential for tremendous wealth. For example, Arkansas-based Walmart is presently the largest business in the world in terms of revenue, earning more than $485 billion in 2017. In 1992, founder Sam Walton passed away and left…

The Psychology of Economics

July 17, 2018

  Countries with a longstanding track record of economic stability and security tend to have the happiest citizens, reports journalist Dan Buettner, who has studied what makes people happy. Education and health care are two primary reasons why, combining to create an upwardly mobile lifecycle.1 Mothers with higher education levels tend to have fewer children,…

For Some Retirees, Home is Where the Debt is

July 10, 2018

Today’s pre-retirees and retirees tend to have far more debt than those in years past. In addition to factors like credit card payments and medical expenses, this generation is seeing the effects of higher home prices and easily obtained low down-payment mortgages in the early 2000s.1 Between 2003 and 2016, Americans 60 and older nearly…

Medicare News

July 3, 2018

Earlier this year, Congress passed a last-minute budget deal that included provisions affecting Medicare benefits. Specifically, one provision will permit certain therapies to continue beyond the previous caps, subject to conditions. All therapy (physical, speech and occupational) must continue to be classified as “reasonable and necessary to treat the individual’s illness or injury.” 1  …

Consider Having a Backup Plan

June 26, 2018

When looking ahead in anticipation of Social Security benefits, many people expect to wait until an average age of 66 to make a claim.1   However, Nationwide Retirement Institute’s fifth annual Social Security survey found many retirees start drawing Social Security at the earliest possible age of 622 — frequently the result of being laid…

Technology Pros and Cons

June 19, 2018

Not all innovations are initially successful. Think about the driverless car. It sounded like a great idea — helping the disabled and elderly retain some independence — until the first pedestrian fatality involving a driverless car occurred in Arizona this year.1 Driverless technology may be a work in progress, but it may still have advantages.…

Notes on U.S. Infrastructure

June 12, 2018

The American Society of Civil Engineers has given the U.S. an overall infrastructure grade of D+. Throughout the next decade, it will take more than $4.5 trillion to fix our aging infrastructure — including upgrades to roads, mass transit, wastewater treatment plants and the electrical grid.1 We’ve reached the mission-critical stage. One industry analyst observed,…

Music Plays Instrumental Role in Healing Ailments

June 5, 2018

Hearing a familiar song from a happy period in your life, such as childhood, can instantly make you feel joyful. It’s as if you’re right back there — toe tapping, head bopping and singing along. Just as with our sight, smell and taste senses, positive auditory memories can enhance mood and transport us back to…

Demographic Differences

May 29, 2018

Consider these questions for a moment: Have your outlook and attitude toward politics and culture changed over the years? Or are you the same as always? If you were a conservative young adult, do you hold the same beliefs today? If you were a rebel as a youngster, are you still? Or have you mellowed…