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Tax hikes won't cut business hiring

The myth that raising taxes on business owners will cost the country jobs continues to thrive.

Recently, Rep. Peter Roskam, R-Ill., made this claim on National Public Radio. Why? "Because," he said, "95 percent of all small-business owners pay taxes at the individual rate rather than a lower corporate rate."

What he meant was that they file as sole proprietorships, partnerships or Subchapter S corporations. Those owners all pay taxes based on the same rate that the rest of us pay -- a rate, by the way, that is already the lowest it has been since 1969.

Markets not only place to make profitable investments

Ten hours of sleep, according to a test study of the Stanford basketball team, can actually improve foul shot percentages. This proves that sleep is important, although we don't need to go overboard. Pawan Mehra, my erstwhile yoga instructor, used to say that all we really need is four hours. Anything beyond that is spent working out the conflicts in our lives. If we simply resolve all our conflicts, we can just bound out of bed after four hours and get a jump on the day. Imagine how much we could otherwise be accomplishing between 2:30 a.m. and 6:30 a.m.

Solar can give you tax-free electricity

This is not a column about solar energy savings. It's about how our financial decisions, all too often, never get beyond the outer layer of the onion. They are viewed through a framework that ignores the big picture.

For example, when Hank Paulson, the former Treasury secretary, was asked by reporters if his kids were going to inherit his reported $500 million, he said, "Why would I want to wreck their lives?" Clearly, Mr. Paulson was thinking beyond the traditional concept of providing his children with a little financial help.

Moving to assisted living a big step for all

Money, and having enough of it, is a challenging aspect of retirement, but far more demanding can be the communication and planning that goes into providing a comfortable retirement for our parents today and ourselves tomorrow.

My own parents are finally in an assisted-living facility that offers a very high level of care and attention. They are 91 and 95 and still in reasonably good health for people that age. However, I am dumbfounded by the amount of attention that they need. And, I'm amazed at what the living facility is able to provide.

CALPERS managers give little bang for buck

I was encouraged to learn that the California Public Employees Retirement System is almost back to its high water mark of $260 billion it reached in 2007.

After losing $70 billion in the crash, it is now within $30 billion of the top. Some of the $40 billion it gained would be attributable to three years' worth of annual contributions -- a total of about $10 billion -- but still that investment gain of $30 billion is nothing to sneeze at.

American retirement picture not so gloomy

The "Boomers" are all right. The latest information from Fidelity Fund and the Investment Company Institute, combined with a dose of common sense and deductive reasoning, leads us to the conclusion that the Baby Boomers are financially prepared for retirement.

We can forget the scare tactics perpetrated by the financial services industry which, naturally, thinks that everyone should save more money and hire them to manage it.

Second opinions on auto service makes sense

The value of a second opinion can never be underestimated.

I'm reminded of my friend, Anne, whose original back surgeon recommended that he operate from the front, which meant removing (setting aside) the stomach and intestines. She interviewed another surgeon who had developed a tool for a less-invasive approach by going in from the back.

She went with the second opinion and ended what had been her chronic back pain -- all the while avoiding what would have been a pit in her stomach.

Like fashion, housing poised to come back

If you hold onto your old clothes long enough, they'll come back into style someday.

Wondering how much longer I'll have to hold onto my pair of bell-bottom pants, I happened to pick up a 2006 edition of David Bach's book, "Start Late, Finish Rich." This book is an absolute classic when it comes to dispensing practical financial advice. It's aimed at middle-aged people who feel overwhelmed by financial pressures -- people behind the eight ball who have a sense that time is running out.

Full 401(k) disclosure has been long overdue

I'm always dumbfounded at the extent to which company owners and managers responsible for 401(k) plans succumb to "status quo bias" when they could be dramatically improving a retirement plan.

Thanks in part to my testimony back in Washington over the years, the luxury of doing nothing may be fleeting. New disclosure laws will force the vendors of 401(k) services to disclose what they are being paid and what they are doing for the money, decisions greatly affecting the nation's $3 trillion worth of 401(k) money.

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