02/07/2005

Right Back Where They Started

Hello:

Index investors are right back where they started this year, possibly. In a climate of domestic decelerating earnings growth and merger mania, it is more important than ever, we believe, to maintain a highly diversified portfolio which includes, among other things, an appropriate allocation to international investments. We were not surprised by the Fed's 1/4 point hike in interest rates last week.

In your donors' meeting with their tax preparer, they may wish to ask him/her what is their marginal tax bracket. Perhaps the donor will become more aware of their social capital that can be directed to some extent to your organization.

More than 22 million American households - nearly one in four - report some form of family caregiving to older adult relatives or friends. Source www.aoa.gov.

Terri G. Millson, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager