Jeff Steiner CFP CRPC, VP Wealth Consultant at Sterling Portfolio Managers

Dept of Labor today in testimony revealed:

-"25,000 people who are over 115 years old and have been collecting $59M in payments."

- "28,000 people between one and five years old have collected fraudulent payments to the tune of $254 million."

- "10,000 people who have not been born yet, 15 years into the future, $69 million, and they have not been born yet."

- "In one case, they will be born 129 years from now. The United States government sent them $41,000."

How does this even happen? Go and try to purchase an age restricted item (firearm, to***co, Sudafed) and the purchase is denied instantly if the birthday isn't appropriate for the product. How does a toddler get approved for social security checks, let alone how does $254 million go out the door to toddlers?

Interesting news on tariffs.

Exclusive-India eyes tariff cut on more than half of US imports to shield its exports, sources say India is open to cutting tariffs on more than half of U.S. imports worth $23 billion in the first phase of a trade deal the two nations are negotiating, two government sources said, the biggest cut in years, aimed at fending off reciprocal tariffs. The South Asian nation wants to mitigate the impact...

So any buyer gets the DNA data apparently.

With 23andMe entering bankruptcy, here's how to delete your genetic data Now that 23andMe has filed for bankruptcy, another company could take control of its genetic database.

Tax time is upon us. For those that get refunds:

'Where's my refund?' How to check the status of your federal tax refund If you've filed your tax return and you're eager for your refund, here's how to check the status of your payment. Find out when to expect your refund.

Interesting action after this week's CPI and PPI.

Bonds Rally as New Inflation Data Repair Damage Inflicted by CPI (Bloomberg) -- Treasuries rallied as a report on producer prices suggested that Wednesday’s selloff sparked by hot consumer inflation data was overblown. Most Read from BloombergWhy American Mobility Ground to a HaltSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterCan Portland Turn a ...

Many of these I have never heard of. And I suspect as things unfold over the years, this list will change drastically.

The 20 Coolest Cloud Software Companies Of The 2025 Cloud 100 Here’s a look at 20 innovative companies that are driving the evolution of cloud software across enterprise applications, business process management, and data platforms and analytics.

Interesting talk on tariffs.

https://www.cnbc.com/2025/02/06/how-the-us-has-used-tariffs-through-history-and-why-trump-is-different.html

e a hot topic.

Tariffshttps://smartasset.com/taxes/do-tariffs-favor-stronger-or-weaker-currencies

How Can Tariffs Affect Exchange Rates and Currencies? Tariffs can have far-reaching effects on exchange rates and currencies and these impacts can influence trade, investors and economics.

hot topic lately

How Can Tariffs Affect Exchange Rates and Currencies? Tariffs can have far-reaching effects on exchange rates and currencies and these impacts can influence trade, investors and economics.

Interesting info here about elections and market performance..

https://finance.yahoo.com/news/why-stocks-dont-care-whos-president-morning-brief-110007008.html

I'd be interested how this is calculated. Is this over time? Or a lump sum needed? Most people don't need this amount at retirement to live quite well. We plan for 1, maybe 2 car purchases during retirement, but I guess it all depends on if we are buying Ferrari's or a nice Toyota.

American Dream costs $4.4 million, Investopedia says The American Dream costs an estimated $4.4 million, according to a new report from Investopedia. Caleb Silver, Investopedia's editor in chief, sits down with Alexandra Canal on Wealth! to break down the report's findings and what it means for you. Silver says "$4.4 million sounds like a lot because....

Some of these yields seem quite high for a checking account. Always conduct due diligence, but maybe worth a look.

10 best high-yield online checking accounts for September 2024 The top high-yield checking accounts are often found online and pay up to 7% APY. Here's our ranking of the best high-yield online checking accounts today.