Hi All,

Its looking like a bleak Wednesday for the nations economy, and likely some of this news affects your wealth one way or another.

1) Storage unit auctions are on the rise (yahoo).

2) The Feds are delaying the results of the bank ‘stress test’. (1) This is because bank balance sheets are weak and the government feels the bad news doesn’t need to be publicized.

3) Elizabeth Warren of the TARP oversight council says that the US may need to spend an additional 4 trillion dollars to prop up US banks (here). See above.

4) Commercial real estate is taking it on the chin (WSJ).

5) U.S. State and municipal employee pensions are underfunded to the tune of 40% (FT).

6) The Fed is pumping another 5 billion into AIG (FT). Why?

7) Talk of tax revolts is still simmering in California (Reuters).

8) The TARP bailout funds will be extended to selected life insurers (WSJ).

To keep things in perspective here are some cute puppies.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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