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Business Ownership and Wealth Management

Dana Barfield

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Top Stories by Dana Barfield

FINRA (Financial Industry Regulatory Authority) has just published an article on Avoiding Investment Scams which is available below: FINRA Avoiding Investment Scams This article is six pages long, and depending upon your perspective, either teaches you how to run an investment scam or how to recognize one. It however, does not teach you how to avoid one in the first place. Here is a reprisal of the earlier piece we did on how to AVOID an investment scam: This is what you have with The Barfield Group and what you can tell your friends: It is very simple, but oh so effective: 1) Have the assets held in custody at an independent, well recognized custodian (Ameritrade, Schwab, Fidelity, E-Trade etc). 2) Make your checks out to the name of your account and make certain you have a segregated account titled in your name (i.e. Tom Jones IRA or Tom Jones Brokerage Account) 3) Mak... (more)

Unemployment – Causes and Consequences

Somewhere on the internet last week, mention was made that unemployment for high income people was (essentially) non-existent, while extremely high for low income earners. I was able to track down that data for the fourth quarter of 2009. Here it is by income: As you can clearly see the lower income levels are experiencing the greatest difficulty finding jobs. Interestingly enough, this data is not making its way into the mainstream. But even more interesting is the set of “circumstances” that has caused this, or at least occurred in the same approximate time frame. Minimum Wage... (more)

The Time to Check This Out is Before Hand

So I’m reading the news today and I discover an article about a father whose child needs additional medical care that his insurance company does not want to pay for.  Most people’s response is one of horror and anger and “this is why we should have ‘ObamaCare’”.  But some very interesting facts get omitted in the bombast and rush to judgment. First, the insurance company is a Dutch insurance company, obviously headquartered in Europe.  As you have no doubt seen, heard, and read (ok, you’ve been inundated) there are tremendously stressful financial and economic issues going on in ... (more)

A Little Encouragement...

I am not sure the origination of this quote, but it certainly is timely: "Hard work: All hard work brings profit; but mere talk leads only to poverty. Earnings: Never depend on a single source of income. Spending: If you buy things you don’t need, you’ll soon sell things you need. Savings: Don’t save what is left after spending; Spend what is left after saving. Borrowings: The borrower becomes the lender’s slave. Accounting: It’s no use carrying an umbrella, if your shoes are leaking. Auditing: Beware of little expenses; a small leak can sink a large ship. Risk-taking: Never test the dept... (more)

Christmas Could Never Get Started Today

This time of year is a favorite for children of all ages – I happen to be one of these kids – in part because of the television programs that are shown around Christmas. A Charlie Brown Christmas, Santa Claus is Coming to Town, Rudolph the Red Nose Reindeer, and How the Grinch Stole Christmas, have been favorites of mine since TV went from exclusively black and white to poor quality color. This is no coincidence as these programs were made in the mid 1960’s. As I was watching this year, it occurred to me that if at this time in history Christmas had not yet been established, if so... (more)