Broker Check

March 20, 2006

Obtain Your Credit Report

     If you want to order your credit report, it is as simple as going to, dialing 877-322-8228 or mailing a request to the address you can find on the website.  You can get an annual credit report for free.  Be careful if you use another service by either the Internet or through a telephone or mail solicitation. Although some of these companies are legitimate and they offer your credit score for a fee, others may not have the best intentions in mind.  The best way to ensure that your personal credit history is safe is to get it from the central source.

     If you find an error on your credit report, correcting the mistake may take a long time.  First, contact the credit rating agency that reported the erroneous information and let them know you want to contest the error.  You may also have to contact the credit company that gave the mistaken information to tohe credit rating agency.  This correspondence should be in writing.

     Once the mistake has been corrected, ask for another credit report.  You are entitled to another free one during the one-year period if the mistake has been corrected.  Let’s Talk Money September/Octover 2005, p.4

Ethical Will

     Scholars generally agree the ethical will is predominantly of Jewish origin and typically credit the Biblical figure Jacob with its creation.  In Chapter 49 of the Book of Genesis, Jacob is famously depicted on his deathbed offering prophesies, blessings, and burial instructions to his sons.  Ethical wills were very popular in Jewish communities through the Middle Ages but their prevalence declined over time as ancient traditions fell by the wayside.

     Today, the ethical will resurgence is being nurtured in part by the easy availability of print and internet sources. Senior citizens and other local and national organizations offer ethical will workshops and seminars.

     Since it is not a legally binding document, generally, an ethical will will have no weight in a court of law.  There is no standard form and each will should reflect the writer’s own style or personality.  But your beneficiaries will get final guidance from you.

     For more information on ethical wills, visit and Bnai Brith Magazine Fall  2005 p. 50

Separate But Equal

     New York recently ratified the legal notice that a husband and wife can each have separate primary residences.  In the instant case, the issue involved the rent stabilization law where the couple had apartments in the Bronx and in West Palm Beach.  The husband claimed Florida as his primary residence and the wife claimed New York.  It was not disputed that the two spouses were rarely separated. Glenbriar Co. v. Lipsman, 5N.Y3d388 (10/28/05)

    If you want to claim a domicile separate from your spouse, please call me for a consultation.

Six Common Mental Mistakes Investors Make

Fear of Regret --The inability to accept that you have made a wrong decision which leads to holding on to "losers" too long or selling "winners" too soon.
Shortsightedness --The fear of losing money and the subsequent inability to withstand short term events and maintain a long term perspective.
Stubbornness --The inability to change your opinion after new eveidnce contradicts your baseline assumption.  Whether in the investment world, or the real world, people like staying in the comfort of a crowd, even if the evidence indicates the crowd is going the wrong way.
Overconfidence --The tendency to overestimate your own ability relative to individuals with greater expertise.
Anchoring --The tendency to give too much credence to your most recent experience and a reluctance to adjust your current belief.  Hence, you tend to become too pessimistic when the  market declines and too optimistic when the market rises.
Representativeness --The tendency for people to see pattern within random sequences.American Skandia Brochure-6 Common Investor Mistakes

     If you want suggestions for professional money management, please call me.

     If you have any questions about the foregoing or any other financial matters, please call us. 

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