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The Independent Investor: A Tale of Two Charities
By Bill Schmick,
05:47PM / Thursday, June 22, 2017
As Senate Republicans unveil their version of a new health care law replacing the Affordable Care Act on Thursday, Democrats are already crying foul. But while politicians are busy back-stabbing each other, there are real people out there who are sick and getting sicker.   These are Americans who can't afford, or can no longer find, insurance. Their stories are evidently not "newsworthy." Instead, the media prefers to accentuate the divisions among our lawmakers, while President Trump describes the House "Choice Act" as "mean." In the meantime, who is taking care of all those sick and elderly victims in this supposedly divisive

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The Independent Investor: A Tale of Two Charities
By Bill Schmick,
07:56PM / Thursday, June 15, 2017
We are a country divided. Washington is paralyzed. Half the country considers our president a joke and any and all legislation is dead on arrival, according to the TV talking heads. Social media is filled with outrage and despair. As a result, Americans are supposedly wringing their hands, or worse, hiding under the covers. Don't you believe it!   To hear the media tell it, on one side of this nation are the ultra-left, tree-hugging liberals, who want government to do everything by taking from the rich and giving to the poor. On the other side, are the red-necked conservatives, who despise government and its welfare programs. They want to whack the Muslims, build

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The Independent Investor: The Client Comes First
By Bill Schmick,
05:19PM / Thursday, June 08, 2017

As of Friday, putting a client's needs first becomes law.

Despite a bitterly contested battle by brokers, banks and insurance companies to kill it, the on-again, off-again Department of Labor fiduciary rule becomes effective June 9, 2017. Investors should cheer the news.

That's right — it is no longer just a slogan that slick marketers use to woo unsuspecting retail investors into their fee-based, commission-based, fee-sharing web of duplicity and immoral behavior. Since I am already a fiduciary, I tried over the years to advise readers on what is in their best interests since their advisers certainly were not. The new law changes all that.

If your adviser,

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The Independent Investor: Elder Care in an Age of Confusion
By Bill Schmick,
05:54PM / Thursday, June 01, 2017
Many Americans confess that they are confused when faced with the myriad Medicare choices available to them. Others are simply not planning, nor saving enough to meet the challenge of health care costs in old age. In response, a whole new industry has sprung up nationwide.   It's called "life care planning," an off-shoot and a natural progression for those practicing elder law. What, you may ask, is elder law and why has it become so important? Attorneys that practice elder law are essentially advocates for the elderly and their loved ones. They routinely handle a range of legal issues that usually accompany an older or disabled person.   Many of

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The Independent Investor: Ready For a 20 Percent Correction?
By Bill Schmick,
03:11PM / Thursday, May 25, 2017

As the stock market makes new highs, investors tend to get greedy. They also begin to believe that what has happened in the recent past will continue to happen in the future. Actually, history shows the exact opposite. It is time to give the potential downside some thought.

Hope burns brightly in the equity markets right now. Many on Wall Street believe that the Republican-dominated Congress, led by Donald Trump, "The working man's president," will usher in a golden era of strong economic growth and robust financial markets. The problem is that politics and investments make for strange bedfellows.

At some point, I expect that the two will part ways and when they

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