GOOD NEWS ON AGING: Two research reports published in the April edition of the American Sociological Review conclude that the happiest Americans are the oldest. Among the findings: Older Americans have learned to be content with what they have.  They are more socially networked. 75% of people age 57 to 85 engage in one or more social activities at least every week (e.g., socializing with neighbors, attending religious services, volunteering, etc.). Those in their 80s were twice as likely as those in their 50s to do at least one of these activities. In general, the odds of being happy increased 5% with every 10 years of age. DEATH OF THE DEATH OF THE ESTATE TAX?:   John McCain said that if elected he will raise the estate tax exemption to $5 million and reduce the tax rate to 15%.  Both Hillary Clinton and Barack Obama said that they would set a $3.5 million exemption and leave the tax rate at 45%.  John McCain would index the exemption amount to inflation. Neither Democrat candidate would do so. None of the three would eliminate the estate tax.  It tooks like we will be living under a federal estate tax regime for a long, long time….the only question is the rate of tax and the amount of the exemption.  In any case, the credit shelter trust strategy (which is in so many existing estate plans) will continue to be an effective way to reduce overall estate tax for a married couple who are both U.S. citizens. HELPFUL BUDGETING/CASH FLOW WEBSITE:   I checked out www.mint.com this weekend, and I am very impressed with what I have seen so far.  This software is a good way to organize your cash flow and budgeting. There are two very attractive attributes to this software:  It is 1) fast and easy, and 2) free. THE MARKETS:  The roller coaster was moving up this past week. The Dow Jones Industrial Average was up 4.25% (down 3.13% for the year) and the S&P 500 was up 4.31%  (down 5.31% for the year)  [Past performance does not guarantee future results.] Some of the upward movement was driven by positive earnings reports from, among others, Caterpillar, Intel, IBM, Google and Honeywell. Each exceeded expectations. On the other hand, Citigroup and Merrill Lynch reported massive write-downs on their housing-related debt and other debt instruments. Both companies saw their share prices increase. The U.S. dollar slid again and commodity prices increased. These views are provided by my good friend and business associate Doug MacGray. Doug is a certified financial planner. If you need the assistance of a great financial planner, please let me know and I will get you in contact with Doug.

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713