August 2007
Did You Know
The trading volume on the New
York Stock Exchange last Thursday
(7/26/07) set an all-time record. The 5.87 billion shares that
were traded are equal to 251,000
stock shares traded per second
throughout the index’s 6 ½ hour
trading day (source: Wall Street
Journal).
Did You Know...the Ohio General
Assembly has enacted an expanded
homestead exemption that will provide additional property tax relief for
qualified senior citizens and permanently and totally disabled Ohioans?
The new act allows for any senior citizen 65 and older to shield $25,000 of
the market value of the property that
is their main residence no matter
what their income is. If the property
is in joint name they only need to
have one member to be over age 65.
In order to be eligible for this year
those who where not previously eligible must apply by October 1, 2007
You can obtain more information
about The Homestead Exemption Act
by visiting their website
at Www.tax.ohio.gov.
Did you know…a recent survey
by the change-machine operator Coinstar, Inc. revealed that 79% of
Americans favor keeping the penny
in circulation? According to the survey, most people still bother to pick a
stray penny up off the ground. Only
60% of those age 18 to 34 will, compared with 89% of those age 65 and
older. About 25% of those who pick
up pennies say they follow the superstition of only picking up pennies
that are facing heads up, while turning over those facing heads down and
leaving them for the next person.
When I arrived home from work last
night, my youngest, who is four, was
very excited to show me the money
he found today. My oldest, who is
nine, having worked hard in math
class this year to learn more about
the value of money, was not so
thrilled and remarked that it was just
a penny he had picked up. In response, I showed her that it only
takes about 3 seconds to pick up a
penny. That equates to 20 pennies
per minute, or 1200 pennies per hour.
There was $2.7 trillion in 401(k)
plans as of 12/31/06, an increase
of $1 trillion in the last 5
years. The average 401(k) balance is $58,328 (source: Investment Company Institute).
At that rate, she could be earning
$12/hr just picking up pennies.
When I asked her if she would like
$12, she was much more interested
and asked what she could do with all
that money. My answer, of course,
was to invest it! Now I just have to
figure out how to explain to her
about the tax advantages of a 529
college savings account. If you
would like to know more about college savings plans please talk to a
member of The Gildenmeister
Wealth Management Team.
Happy 45th Birthday Raymond
James!!!!
Few know the entire history of
locations Raymond James has
called home during its 45 years.
There are nearly 97,000 Americans on
a national waiting list hoping to receive
an organ donation, of which 72,000
people need a new kidney (source:
Organ Procurement and
Transplantation Network).
Important Dates to Remember
September 3 Labor Day
(Office Closed in Observance)
September 9 Grandparent’s Day
When the firm was established as With these requirements in mind, the
Robert A. James Investments in
Carillon office park was selected.
1962, a lone room in a St.
Petersburg motel (which
In July 1987 Tower I of the Raymond
happened to be owned by a James
James Financial Center was comfamily member) served as its
pleted. With 180,000 square feet of
office. While not conventional, it
space, it dwarfed Raymond James’
was convenient and inexpensive.
former 86,000-square-foot home.
The budding company quickly
outgrew the tiny space, moving
to 6090 Central Avenue in St.
Petersburg. As the staff grew,
additions were periodically
constructed until expansion space
ran out. In 1982, the firm moved
to its new home at 1400 66th
Street in St. Petersburg. The old
office at Central Avenue location
didn’t go to waste – it became a
Raymond James & Associates
branch office.
As the firm continued to grow, it
became clear that long-term firm
growth would need to be
considered for the new location.
Search officials knew the firm
must be convenient to the entire
Tampa Bay area and its vast
talent pool. Airport proximity
would also be convenient for
visiting clients and financial
advisors. was selected.
With continued growth, it was only a
few years before Raymond James began construction of the four-story,
128,000-square-foot Tower II, which
opened in March 1993. Tower III
opened in 1997, adding 276,000 square
feet and nine stories to the campus,
followed by the Raymond James
Bank and Trust building in 1998 and
Tower IV in January 2004.
Though born from modest beginnings,
Raymond James and its dynamic
home office campus continue to adapt
to the challenges and benefits of the
firm’s impressive growth.
106 S. Sandusky St.
Bellevue, Oh 44811
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Www.GildenmeisterWMG.com
Office of Supervisory Jurisdiction
1800 E. 9th St.
Cleveland, Oh 44114
Phone: 419-483-7900
Toll Free: 866-397-4082
Fax: 419-483-6900
“By constant self-discipline and
self-control you can develop
greatness of character”
-Grenville Kleiser