The current government shutdown means that for the first time in history, it may not be possible as of October 17th for the U.S. government to meet its financial obligations. How will this affect the debate on the U.S. debt limit? Will the U.S. government be able to pay its bills? We begin this week with some observations from Treasury Secretary Jack Lew. For individual investors, the future looks a bit brighter. Liz Ann Sonders, Chief Investment Stategist at Schwab, explains why. We close with an answer to the age-old question, “Can money buy happiness?” It turns out the answer is, “Yes, if you use it the right way.”
Lew: Shutdown Won’t Push Back Debt-Ceiling Deadline– The bills of the U.S. government can be as much as $60 billion on any given day. The recent government shutdown may mean that by October 17, we will have $30 billion left to cover our debts. Treasury Secretary Jack Lew shares his thoughts on the situation.
Schwab Market Prospective: You Never Know– Surprises come at any moment in the investing world, reinforcing the need to have both a long-term view and a balanced/diversified portfolio. Liz Ann Sonders, Chief Investment Strategist at Schwab, discusses her bullish, but cautious view of the current investment environment and what she sees as buying opportunities.
Money Can Buy Happiness– Extensive research has been done about whether money can actually buy happiness. Advisor Perspectives writes that the answer is, “Yes”, depending on how you use it.
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John R. Day, Bill Ennis and Stephanie Davidson.