RECORD HIGH—It’s the highest price ever paid for a piece of art. Picasso’s 1955 “Women of Algiers” painting just sold for $179.4 million (the previous record was $142.4 million). If you want to invest in art, don’t open your checkbook before reading Mark’s Creating Wealth essay, “Fine Art as a Long-Term Investment.”
TRAVEL BOOM—Hotels brought in a record $163 billion in 2013 (the most recent data available). They’re now at 70.4% occupancy nationwide… the highest level since 1996. PKF Hospitality Research expects occupancy rates to rise through 2016. It’s an important reminder: The American economy is not as bad as the scary headlines suggest…
DEBT SUFFOCATION—By 2035, federal debt will equal the size of the entire U.S. economy. That’s an increase of 115% from today (from $18.6 trillion to $40 trillion). Congress will either need to cut spending 7%, or increase taxes 7.5%. (We expect the latter.) Consider using whole life insurance policies to slash your tax bill, keep your assets private, and let them compound, safely.
DEMENTIA BEATER—The Wall Street Journal reports a handful of nuts and five tablespoons of extra virgin olive oil per day can increase memory function. They also reduce cardiovascular risk. Here are ten easy recipes to help add more nuts to your diet.