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J. Michael Stolp

J. Michael Stolp is Managing Member of CFO Solutions LLC, founded by Michael in 1991. CFO is a registered investment advisory and boutique financial planning firm with corporate offices in Scottsdale, Arizona. He is based and resides in Scottsdale. CFO specializes in the unique planning needs of doctors, other professionals, and small business owners, and the economic issues facing them.

Keep Your Money Safe for Retirement! You’ve worked hard. You’ve earned your savings. Don’t lose it all now on risky investments. We can help you keep your money safe and create the retirement you want, when you want it. We charge no commissions, and no client of ours has ever lost a dime who followed our risk averse philosophy. Contact one of our CFO Financial Advisors today and find out how.

At CFO Solutions, we hear the following comments all the time, “I wish I would have started this process earlier in my life”, and “I wish I would have heard about you sooner”. It’s never too late, but when it comes to preparing for the future, the sooner you start the better. An earlier start will allow your investments more time to earn and mature.

Healthy retirement planning depends on asset allocation rather than on the performance of one single investment. For this reason, we recommend that you spread your investment capital around. However, don’t just spread your savings for the sake of diversification. Be sure your investments are safe and thoroughly discussed with a professional.

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As Donald Trump continues to hammer Hillary Clinton’s record on trade and economic policies, a blockbuster new POLITICO Pro-Harvard poll shows that a majority of Americans believe multinational trade agreements of recent decades have lost U.S. jobs and depressed wages. The poll seems to represent a stunning rebuke of the trade agenda of Washington leaders in both political parties, and may portend poorly for Hillary Clinton, who has a long record of being a vocal advocate of global trade. The poll “shows an across-the-board skepticism toward international trade,” Politico writes. By a five-to-one margin, Americans believe that trade policies with other countries have lost American jobs (65% believe our trade policies have lost the U.S. jobs versus only 13% who believe our trade policies have created U.S. jobs).

Source: Blockbuster Poll: Americans Reject Obama-Clinton-Ryan Position on Trade – Breitbart

Yahoo Inc was sued on Friday by a user who accused it of gross negligence over a massive 2014 hacking in which information was stolen from at least 500 million accounts. The lawsuit was filed in the federal court in San Jose, California, one day after Yahoo disclosed the hacking, unprecedented in size, by what it believed was a “state-sponsored actor.” Ronald Schwartz, a New York resident, sued on behalf of all Yahoo users in the United States whose personal information was compromised. The lawsuit seeks class-action status and unspecified damages. A Yahoo spokeswoman said the Sunnyvale, California-based company does not discuss pending litigation. The attack could complicate Chief Executive Marissa Mayer’s effort to shore up the website’s flagging fortunes, two months after she agreed to a $4.8 billion sale of Yahoo’s Internet business to Verizon Communications Inc .

Source: Yahoo is sued for gross negligence over huge hacking

SAN FRANCISCO — Yahoo announced on Thursday that the account information of at least 500 million users was stolen by hackers two years ago, in the biggest known intrusion of one company’s computer network. In a statement, Yahoo said user information — including names, email addresses, telephone numbers, birth dates, encrypted passwords and, in some cases, security questions — was compromised in 2014 by what it believed was a “state-sponsored actor.” While Yahoo did not name the country involved, how the company discovered the hack nearly two years after the fact offered a glimpse at the complicated and mysterious world of the underground web.

Source: Yahoo Says Hackers Stole Data on 500 Million Users in 2014 – The New York Times

Twitter moving closer to sale   2 Hours Ago | 04:03 Twitter shares surged Friday after sources said the ailing social media moved closer to being sold. The sources said the company has received expressions of interest from several technology or media companies and may receive a formal bid shortly. The potential suitors include Google and Salesforce.com, among other technology companies, sources said.

Source: Twitter may soon get formal bid, suitors said to include Salesforce and Google

Mohammed Idrees used to travel to London once or twice a year, but these days the Saudi civil servant is asking his wife and children to cut back on using the family car to save fuel and has installed a solar panel for the kitchen to reduce electricity costs. For decades, Saudi nationals such as Mr. Idrees enjoyed a cozy lifestyle in the desert kingdom as its rulers spent hundreds of billions of dollars of its oil revenue to subsidize essentials such as fuel, water and electricity. But a sharp drop in the price of oil, Saudi Arabia’s main revenue source, has forced the government to withdraw some benefits this year—raising the cost of living in the kingdom and hurting its middle class, a part of society long insulated from such problems. Saudi Arabia heads into next week’s meeting of major oil producers in a tight spot. With a slowing economy and shrinking foreign reserves, the kingdom is coming under pressure to take steps that support the price of oil, as it did this month with an accord it struck with Russia.

Source: Kingdom Comedown: Falling Oil Prices Shock Saudi Middle Class – WSJ

Democratic presidential candidate Hillary Clinton would levy a 65% tax on the largest estates and make it harder for wealthy people to pass appreciated assets to their heirs without paying taxes, expanding the list of tax increases she would impose on the top sliver of America’s affluent.The estate-tax increase and other new proposals that Mrs. Clinton detailed on Thursday would generate $260 billion over the next decade, enough to pay for her plans to simplify small business taxes and expand the child tax credit, according to the nonpartisan Committee for a Responsible Federal Budget, which advocates fiscal restraint.In all, Mrs. Clinton would increase taxes by about $1.5 trillion over the next decade, increasing federal revenue by about 4%, though that new burden would be concentrated on relatively few households. There is at least a $6 trillion gap between her plan and the tax cuts proposed by her Republican rival Donald Trump.

Source: Hillary Clinton Proposes 65% Top Rate for Estate Tax – WSJ

China’s holdings of U.S. Treasuries fell in July to the lowest level in more than three years, as the world’s second-largest economy pares its foreign-exchange reserves to support the yuan.

Source: China’s Holdings of U.S. Treasuries Fall to Lowest Since ’13 – Bloomberg

In a speech in New York, Mr. Trump offered few details about how he would pay for his ambitious agenda, beyond requiring allies to shoulder American military costs.

Source: Donald Trump Vows to Create 25 Million Jobs Over Next Decade – The New York Times

Donald Trump on Thursday expanded on his plans for tax cuts to stimulate the US economy and create jobs, relying on faster growth to limit the resulting increase in the budget deficit. Speaking to the Economic Club of New York, Mr Trump said: “If we

Source: Trump details plans for tax cuts to boost US economy — FT.com

Taxpaying New Yorkers are leaving in droves for other states. In 2014, 126,000 tax filers fled to other places in the US — more people than in any other state, according to a study posted on

Source: Taxpayers are fleeing New York in droves | New York Post