Gallup Sun

‘Perspectives’

“Warren Buffet once pointed out that when you do the math, it is obvious that inflation is far more destructive to wealth than any tax levied on us by the government.” - Lawrence Castillo

It probably hasn’t escaped your notice that consumer prices have gone rogue in 2021. Prices for goods and services are surging at the fastest pace in over ten years, threatening to squeeze households and squelch a potential post-COVID economic recovery. Economists, bankers, and pundits insist that inflation rates reflect pandemic-induced trends and are only temporary. However, many retirees, pre-retirees, and investors are concerned that prices will keep going up, stalling...

Suggests tax changes

ALBUQUERQUE - New Mexico Voices for Children released a policy brief Oct. 11 recommending that lawmakers protect future budgets by diversifying the state’s revenue sources.

The top five reasons are as follows:

1. New Mexico is dependent on the boom-and-bust cycle of the oil and gas industry.

2. A number of indicators show the oil and gas industry is in a long-term decline.

3. New Mexico needs to transition away from fossil fuels for the health and well-being of the children in the state.

4. The state already has unmet revenue needs and they are expected to grow.

5. Raising adequate and sustainable revenue can help promote equity in New Mexico...

Editor,

Every day is Indigenous Peoples’ Day. Even more so in the “Indian Capital of the World” where the Gallup City Council acknowledged the historical contributions of the First Nations who call “Turtle Island” home and met the challenge of celebrating the correct history of this misguided federal holiday.

On September 27, 2016, the Gallup City Council passed Resolution/Proclamation R2016–40, declaring the second Monday of October as “Indigenous Peoples’ Day” into perpetuity.  On October 17, 2017 the McKinley County Commission also approved Resolution/Proclamation No. OCT‑17–085 designating the Second Monday in October of each year as “Indigenous...

‘Layin’ it on the line’

What is the “sequence of returns” risk, and how can it negatively impact your retirement savings?

The “sequence of returns risk” or “sequencing risk” refers to the possibility that the timing and order in which you take investment returns may not be favorable. Bad timing results in your portfolio having less overall value, meaning you’ll have less money for your retirement. You should understand that if you aren’t investing regularly or withdrawing regularly, the order in which your returns occur has little to no effect on your outcome. However, once you start drawing down that money, you will experience the consequences of the sequence...