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Happy Election Day! (Whew … finally) Yes, we know many of you are still casting your votes and we don't yet know who the next president will be, but we feel completely confident saying this anyway: Your taxes are going up! We also know that both Barack Obama and John McCain have talked about tax cuts in one form or another, so you may wonder why we say this. Here's the truth: A weaker economy means lower tax revenues, which means less money to pay for all of the stuff the government has recently promised. And promise it has. Somebody has to pay for the $750 billion+ "bailout" of the financial industry. Like it or not, that somebody is you. (Don't assume we're done with government "bailouts" either.) We know the government isn't going to significantly cut spending to pay these bills, so there is no other alternative but higher taxes. That makes it more important than ever for you to take advantage of every opportunity to save on your taxes. You don't want to give Uncle Sam a penny more than what's required by law. Don't miss even one deduction! Start with these 11 Little-Known Tax Deductions that Can Save You a Bundle! Lost in all of the election headlines this past weekend was the fact that another bank failed. This time it was Freedom Bank in Florida, the 17th bank to go under this year. Understandably, many people are panicking about the safety of their money. We just saw the results of a Nielsen Claritas survey from October, which showed that 31% of Americans are either "extremely" or "very" concerned about the safety of their personal savings account. If that's you, take a deep breath. Chances are that your bank will be fine. However, you want to make absolutely sure that's the case. Thankfully, it's not that hard to do! Let us walk you through the simple process of how to protect your bank deposits. You'll learn how to make sure your money is backed by the government and how to check your bank's safety.
The bad economic news continued this week with the announcement that one key measurement of the nation's manufacturing activity hit its lowest level in 26 years, thanks to the ongoing financial crisis and Hurricane Ike. This comes on the heels of last week's report from the Bureau of Economic Analysis showing that our economy shrank in the third quarter. The brilliant conclusion by at least some analysts that we've seen quoted? We're in a recession. Duh. We've been saying that for some time, so we hope you've been smart with your money in these tough times. Make sure you're doing it the right way with our 9 Ways to Recession-Proof Your Life. Sincerely,
Ken & Daria Dolan |
We'll soon know! Two weeks ago, we asked whether you would vote for Barack Obama or John McCain for president. Your Dolans.com voting was extremely tight, with the winner being John McCain by the incredibly narrow margin of 51% to 49%. We'll be eagerly watching the results tonight to see how close you really were.
Have you heard about Ken Mink? He's a 73-year-old man from Tennessee … who played in a college basketball game last night! That's right. He's the world's oldest college basketball player. Good for him! Life doesn't have to stop anytime, whether you're 50, 70 or 90. In fact, if you're over 40 and looking for your next job, you're not alone. 
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