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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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What a job looks like has changed for many people since the recession. In general, things are looking up: Both unemployment and jobless claims are falling. But a good chunk of job creation has come at the highest and lowest ends of the spectrum, a trend that has only recently started to change with gains for middle-wage earners. Many people who lost well-paying jobs have found work, but for less money, doing hourly retail and food services jobs. These new hourly workers not only make less money, but they have much less predictable schedules than hourly workers had before the recession, according to a new study from the University of California, Davis. “The jobs replacing the ones that were lost after the recession ended were a lot of low-wage hourly jobs with really variable schedules,” said Ryan Finnigan, an assistant professor at U.C. Davis and one of the researchers who worked on the study.

Source: Worker Hours Are More Unpredictable Than Ever – Bloomberg

Increasingly, there are two ObamaCares.There’s the one in coastal and northern areas, where the marketplaces include multiple insurers and plans. And there’s the one in southern and rural areas, where there is often little competition, a situation that can lead to higher premiums.”There’s really two kind of stories that are playing out,” said Cynthia Cox, who studies insurer competition at the Kaiser Family Foundation.The trend is likely to be accelerated by the departure of Aetna and UnitedHealthcare from ObamaCare marketplaces in 2017. The loss of those insurers won’t affect all parts of the country equally, experts say. “The combined effect of these exits is mostly concentrated in southern states and particularly rural counties within those states,” Cox said. According to an analysis from the consulting firm Avalere, as of now, there will be just one insurer offering ObamaCare coverage next year in seven states: Alabama, Oklahoma, South Carolina, Wyoming, Alaska, North Carolina and Kansas. It is possible that more insurers could enter these markets before next year.In one county in Arizona, there might not be an ObamaCare plan available at all.

Source: How ObamaCare is splitting in two | TheHill

Liberals are amping up their opposition to the Trans-Pacific Partnership (TPP) on and off of Capitol Hill, amid escalating concerns that the package will get an 11th hour vote after the November elections. Republican leaders in both chambers have said it’s unlikely the mammoth Pacific Rim trade deal will reach the floor this year. But the accord remains a top priority for President Obama in the twilight of his final term, and the critics — leery of pro-TPP members in both parties — aren’t taking anything for granted. Liberal TPP opponents this month have launched a new wave of petition campaigns and fundraising drives; a free concert series is touring the country through the summer; and lawmakers on Capitol Hill are vowing to do “everything we possibly can,” in the words of Rep. Rosa DeLauro (D-Conn.), to block a vote this year.  “Make no mistake about it, Speaker [Paul] Ryan and the administration are working hand-in-hand to plot a path for the TPP in a lame duck session of Congress,” DeLauro, who’s among the loudest TPP critics, said this week in an email. “They will do everything possible to try to pass the TPP after the election.”  Fueling those concerns, Obama on Friday sent notice to Congress that he intends to deliver TPP implementing legislation to Capitol Hill later in the year — a maneuver dictated by the fast-track trade resolution Congress passed in 2015.

Source: Liberals rally to sink Obama trade deal | TheHill

EXCLUSIVE: Heat Street has compiled evidence of the media’s growing willingness to touch the forbidden question of the Democratic nominee’s health. Does she need to release those medical records to be straight with the public? What’s going on with Hillary Clinton’s health? That’s a question many people are asking these days. There’s a lot we still don’t know about the mysterious health scare Clinton suffered in December 2012, when she was hospitalized for what was later described as a blood clot on her brain. The event was shrugged off as a minor scare, and Hillary eventually returned to work as secretary of state, sporting a pair of very thick spectacles. However, in 2014, Bill Clinton revealed that his wife’s “terrible” health episode “required six months of very serious work to get over.” Some of Hillary’s behavior over the course of the campaign has been described by observers as ‘erratic’ … leading some critics to raise questions about her current health.

Source: HEALTH WATCH: Hillary Clinton’s Erratic Behavior Raises Questions | Heat Street

U.S. stocks traded higher on Monday, with the three major indexes hitting new records, as investors kept an eye on oil prices.”The market is being driven by the same theme,” said Bruce Bittles, chief investment strategist at Baird, referring to low interest rates around the world and the “hunt for yield.””Until we get some optimism, the path of least resistance is higher. Nobody likes this market,” he said.The benchmark S&P 500 and the Nasdaq composite broke above previous intraday highs of 2,188.45 and 5,238.54, respectively, shortly after the open. The Dow Jones industrial average also posted a record high, rising past its previous high of 18,638.34. These records were all set last week, despite the indexes posting just slight weekly gains.

Source: US stocks trade at record highs; oil jumps more than 2 pct

Stocks closed higher Thursday, with the three major indexes closing at new record highs, amid sharp gains in oil prices and strong quarterly results from retailers. “I think there are two main drivers here. One of them is oil,” said Mariann Montagne, senior investment analyst at Gradient Investments. “The other part is this retail rally.” Thursday also marked the first time since 1999 the Dow, S&P and the Nasdaq posted record closing highs on the same day, according to Bespoke.

Source: All major US stock indexes post record closes; oil rallies

Macy’s beats on top and bottom line   7 Hours Ago|01:30 ‹ 01:30 Macy’s beats on top and bottom line   7 Hours Ago 02:37 Macy’s CEO: Benefiting from online spending   7 Hours Ago 02:46 Macy’s CEO: No second thoughts on leaving Macy’s   7 Hours Ago › Macy’s reported Thursday fiscal second-quarter sales and earnings that topped analysts’ expectations, as shoppers responded to the department store’s steep discounts. Yet with sales still on the decline, the retailer said it will shutter 100 locations to focus on its best-performing stores. The company’s shares shot more than 16 percent higher in early trading. “Whenever there’s been a setback in our company, we’ve been first in the industry to take a very aggressive stance at moving us forward,” CEO Terry Lundgren told CNBC’s “Squawk Box.” “That’s just part of it. By closing 100 stores… we’re getting out in front of this.”

Source: Macy’s reports second-quarter earnings

Many of America’s athletes who win Olympic gold, thus receiving a $25,000 check from the U.S. Olympic Committee, will be required to pay more than a third of that straight to the Internal Revenue Service. For example, swimmer Michael Phelps has won three gold medals, and would be scheduled to receive $75,000. However, since he is most likely in the top tax bracket, the IRS will claim 39.6 percent of his winnings, or about $29,000. The so-called “victory tax” has been opposed in Congress, but so far the bill to make Olympic prizes tax free has not passed Congress.

Source: 11 Americans Win GOLD at Olympics, But All Received BAD NEWS Right After…

The next president could be dealing with an ObamaCare insurer meltdown in his or her very first month. The incoming administration will take office just as the latest ObamaCare enrollment tally comes in, delivering a potentially crucial verdict about the still-shaky healthcare marketplaces. The fourth ObamaCare signup period begins about one week before Election Day, and it will end about one week before inauguration on Jan. 20. After mounting complaints from big insurers about losing money this year, the results could serve as a kind of judgment day for ObamaCare, experts say. “The next open enrollment period is key,” said Larry Levitt, senior vice president of the Kaiser Family Foundation. The Obama administration has struggled for several years to bring young, healthy people into the marketplaces, which is needed to offset the medical costs of older and sicker customers.

Source: Next president faces possible ObamaCare meltdown | TheHill

Macy’s beats on top and bottom line   2 Hours Ago|01:30 Macy’s reported Thursday fiscal second-quarter sales and earnings that topped analysts’ expectations, as shoppers responded to the department store’s steep discounts. Yet with sales still on the decline, the retailer said it will shutter 100 locations to focus on its best-performing stores. The company’s shares shot more than 15 percent higher in early trading. “Whenever there’s been a setback in our company, we’ve been first in the industry to take a very aggressive stance at moving us forward,” CEO Terry Lundgren told CNBC’s “Squawk Box.” “That’s just part of it. By closing 100 stores… we’re getting out in front of this.”

Source: Macy’s reports second-quarter earnings