Moneywise
BUSINESS COLUMNIST
Martha Myron, JP CPA CFP (US) TEP specialises in independent fee-only cross border investment, tax, estate, and strategic retirement planning services for Bermuda residents with United States and multinational connections, and US citizens living and working abroad. She is a Master in Law candidate and the American Citizens Abroad Country Contact for Bermuda. www.americansabroad.org
Send an emailor email mmyron@patterson-partners.com 
296 3528
at Patterson Partners Ltd.
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May 18, 2013 7:38 amThe secret shame of elder abuse: No easy solution to a cruel and silent problem
Further commentary on elderly exploitation articles featured last week in The Royal Gazette.
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May 11, 2013 8:00 am
What should a 30-year-old’s portfolio look like?
Last in the series of young women and their money — that is, unless we receive more letters from readers.
And, now as promised, back to the last question from our young professional career woman.
Apologies for the sidetracking with other pressing commentary in the last few weeks. I hope this last article is worth waiting for. -
May 4, 2013 8:00 amFATCA: The large, unfriendly elephant in the room
The Elephant called FATCA is now in the room. This elephant is large, unfriendly, and will brook no dissent. The FATCA programme* and the accompanying US tax compliance issues have been discussed on many occasions over the last few years in Moneywise, some references below.
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Apr 27, 2013 8:00 am
Financial implications of moving abroad
Part 3 in the series on moving to the United States. Please see Part 1 Options for those who dream of settling in the US, March 23, 2013 and Part 2 The pondstraddlers dilemma, March 30, 2013. Part 4 will be directed to the investor treaty programme.
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Apr 20, 2013 8:00 amYou can benefit from Money Smart Week
Money Smart Week starts today at the Bermuda Library on Queen Street. The week-long event will provide information for individuals and families to make help them make better decisions regarding their financies.
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Apr 13, 2013 8:00 amChallenge for young women: Save $1,000+ a month for five years!
Part 2 of Young Women and Their Money. (Part 1 was featured on April 06, 2013 in the Royal Gazette.
Young women, Older women, Ancient women. This is the realistic picture of our lifespan from age thirty going forward. Thus, the answer to how much should you save or should have accumulated by age of thirty (30) is never easy, nor should it be passed off in the generic advisory phrase of three-six months of general living expenses. -
Apr 6, 2013 8:00 amFinancial advice for young female professionals
Last week, Moneywise received a letter from a 29-year old professional and Bermudian resident employed successfully in Bermuda. She asked us to consider answering some financial questions in order to assure herself that she is on track financially. While we cannot provide specific personal financial advice, however, we requested permission to place a sanitised version (scrubbed of personal information) of her queries into the public domain. We...
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Mar 30, 2013 8:00 amThe pondstraddlers dilemma
Illuminating the challenging choices investors, foreign property owners, and pondstraddlers make when crossing borders.
A pondstraddler is a person with multiple citizenships who has a foot in more than one country across the North Atlantic pond and whose heart is in both places. This group in particular have many issues to face. -
Mar 23, 2013 8:00 amOptions for those who dream of settling in the US
The recent ongoing serious commentary centred on the right to work and reside in Bermuda has seen a fierce uproar of feelings among many Bermuda citizens and residents. It is a vigorous debate: over term limit changes, suggestions of selling Bermuda residency to obtain much needed foreign cash infusions, and other proposals regarding the right to live, work, and / or become a temporary / permanent resident of Bermuda continues on.
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Mar 16, 2013 8:00 amInvest wisely during market highs
Absolute investment euphoria abounds. The Dow (Dow Jones Industrial Average Index) hits an all-time high this week as of late Thursday evening with the S&P 500 Index also hovering close to a record, according to Bloomberg reports.
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Mar 9, 2013 11:10 amReviewing your pension under the National Pension scheme
Bermuda’s economy is wallowing in the fifth year of a devastating recession. Local workers, who are employed, will have serious concerns about the viability of their jobs in a still uncertain future.
Workers made redundant may have had to use every resource at their disposal for financial survival, including pension hardship withdrawals. Their accumulated pensions may still represent a bright spot on the horizon of financial security. -
Mar 2, 2013 8:00 amFinancial reality is here - it’s time to put aside our differences
Financial Reality is here. We have seen the Bermuda Government budget for 2013*2014.
We, the people, represented by our politically-ruled Government, know what we can’t spend.
We know how much revenue we need to generate just to break even on our bare, bare bones budget. -
Feb 23, 2013 8:00 amAdvance thoughts on the Budget Statement
It is said that you cannot get blood out of a stone; nor, can you pull a rascally rabbit out of a hat; nor, generate new revenue by printing pretty money no one wants. Not here, not now on this tiny Island.
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Feb 16, 2013 7:58 amTime to check your pension
It is annual year-end pension review time again. The Bermuda National Pension Scheme 2012 fourth quarter / annual summary reports should have been received by all enrolled pension participants.
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Feb 9, 2013 8:00 amLIBOR scandal & you: Even small interest rate differential is significant over time
Liberation by LIBOR? Well, here we go again. Type LIBOR in any search engine on the internet these days to review current multiple jurisdictional investigations, now against the third global financial institution (in what appears to be a continuous line of scrutinised banking establishments) facing huge settlement penalty fines to both the United Kingdom and United States regulatory authorities and governments for their roles in the manipulation...
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Feb 2, 2013 8:00 amAre bonds the best investments for a low interest rate environment?
We revisit a bond investment discussion of twelve years ago — interest rates were low then, too. You are at a children’s playground in front of a giant see-saw; you know, the ones that have been immortalised in childhood memories.
Sitting on its very pivot point is Ed Striver Smith, CEO, of Creative Carpentry Products, a NASD publicly listed manufacturing corporation (CCP). -
Jan 26, 2013 8:00 amThe right information can make you an expert
In this day and age, can you tell me the item of most interest (on a daily basis) for most people? Yes, we know money is probably the first on the list — but besides that? The answer of course is information.
This is the ‘Information Age’ where immediate access to information is extremely important to most individuals. -
Jan 19, 2013 8:00 amState of Bermuda’s finances: Time to get tough on tax arrears, unpaid fines?
The State of our Economy: Anyone with business sense or intelligent intuition suspected, conjectured, and estimated that government coffers were routinely running negative by 250-300 BMD million a year.
And now, what an daunting task we have ahead of us to clean up our financial books, contracts, budgets, grants, and related expenditures in order to be fiscally solvent with unqualified (clean) audited report. -
Jan 12, 2013 7:53 amA good education: ‘Opportunity to invest in you always there’
Bermuda needs an educated workforce. And it’s that time again for many students on the island. They are struggling with those interminable university application forms with the excruciating wait to see if they’ve been accepted at the right school.
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Jan 5, 2013 10:00 amNew year, new goals
Martha Myron Harris
New year, new start, new government, new goals, or are we recycling the same old topics? Of course, we are!
Nothing changes that much in a year. What is expected, however, is that with the new year comes fresh perspectives and new initiatives on working through these agendas.
Country goals -
Dec 29, 2012 8:00 amIn making a New Year’s resolution ‘just do one small, simple thing’
Out with the Old and In with the New! This is the twelfth year of the New Year’s Day Resolution article.
It is a timely topic but a challenge to make the trite relevant in these difficult times.
This Old year looks back at times of many positive (and negative) changes.
Bermuda has new political leadership governing our country. We’ve lost the long-standing highly respected editor of our daily local newspaper. -
Dec 22, 2012 9:05 amA change of the guard
A true changing of the guard happened this week. The voters of Bermuda have spoken. We have selected the individuals who will represent us and our country for the next five years.
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Dec 15, 2012 8:00 am
Take the Politics Performance Indicator before you go to the polls
Freedom is the best term for democracy. Individual freedom to choose, free to be, free to express opinions, free to pursue individual goals and successes.
In two days, registered voters of Bermuda will tend to a virtual sacred rite. -
Dec 8, 2012 8:00 amFatca: How comfortable are you with government having access to your personal financial information?
Bermuda resident readers of the Moneywise column tell me that they like to read my articles (and I thank them for that) but they will inevitably point out that they aren’t too interested when I go off on United States tax tangents.
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Dec 1, 2012 8:00 amThe erosion of real jobs with real benefits
Everyone needs a job, from the time that a child is relatively small through to virtually the end of life. Everyone needs a job, a function to perform. Call it work, a career, vocation, avocation, a chore for an allowance, or just plain puttering around, it is still a job.
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Nov 24, 2012 8:00 amGreek bonds paying 16.75% per year: Risk or reward, you choose!
Bank deposit interest rates are still so low, so tedious in their predictability, and so discouraging for the fierce saver, it would seem that investors would be flocking to invest in equity markets.
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Nov 17, 2012 8:00 amOpen letter to those offered early retirement
This is an open letter to the financial institution employees offered voluntary retirement this week of November 10, 2012 as well as to all individuals who have been made redundant during Bermuda’s serious economic downturn.
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Nov 3, 2012 8:00 amOwning a business means knowing when to be bold, when to hold and when to fold
One of the questions that arise at all times is the following. How did the wealthy become so rich? And why aren’t they spreading it around?
The answers, if I may presume to speak for them, are: They earned their wealth (yes, well, a minority inherited but the forebears earned it). -
Oct 27, 2012 8:00 amImpact of unemployment on health insurance
Considerable commentary seen lately regarding the demographics of the potential continued domestic employee population in Bermuda. I say, potential, because it is a statistical fact that unemployment among Bermudian residents is high and continuing to escalate upward. Job loss for anyone is real, financially painful, and emotionally devastating. In most cases, redundancy reality means complete loss of those taken-for-granted employee benefits:...
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Oct 20, 2012 8:00 amOf trees and investment machines...
Clearing out the explosive jungle that constitutes part of the garden while enjoying fall, a favourite season in Bermuda, the parallels between the growth of plants and the appreciation and allocation of an investment portfolio seemed natural.
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Oct 6, 2012 8:00 amHow are your health insurance premiums being spent?
Bermuda residents — do you know how your health insurance premiums are being spent? There have been discussions, knowledgeable questions and in some cases, vague, obtuse answers about the state of the health of our country and its health providers in the news this week.
Public companies and private citizens have expressed deep concern about the ever-spiralling financial cost of healthcare and insurance. -
Sep 29, 2012 9:30 amYour biggest and best financial mistake
What was your biggest financial mistake? You know that one, where you took a hit you would rather not talk about. A financial blunder is not necessarily precipitated by a poor stock market choice; it can involve anything.
Often, the financial decision was carefully thought out, but it still proved wrong in the end because emotional choices over rode the rational process. -
Sep 22, 2012 6:00 amBrush up on your financial literacy
The United States Securities and Exchange Commission released their Study Regarding Financial Literacy Among Investors in the United States that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. (See www.sec.gov for the full report dated August 2012.)
The results are very discouraging as the overall message portends more difficulty for future retirees in achieving even marginal financial success. -
Sep 15, 2012 12:01 am
Bond values and interest rates explained
Bond values and interest rates related to government debt (called sovereign bonds) have been featured repeatedly in finance news for months. Headline focus has been eastward on Euro zone countries, such as Italy, which has been challenged with higher interest rates (and repayment) costs for borrowing on its debt.
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Sep 8, 2012 6:00 amWhat you need to know to grow financially
Investment markets took a sharp rise upwards on Thursday of this week in reaction to supportive moves from the European Central Bank, under president Mario Draghi, with the implementation of an unlimited buying programme of EU zone sovereign debt. Yesterday’s US unemployment report, although trending lower with payrolls rising only slightly - may affect the prior day’s rally although day-end market values not ascertainable as the...
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Sep 1, 2012 6:00 am
Dividends de Rigueur
Dividends de Rigueur. A basket of dividend-producing stocks used to be called the old people’s retirement portfolio. The stocks had certain characteristics, sort of like the retirees themselves: consistent payouts, relatively stable dividend yields, decent appreciation over the long-term, not too volatile but rather, boring, bland, unexciting, but here’s the best word, predictable.
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Aug 25, 2012 7:00 amThe Internet is our window to the world...of scams
For isolated islanders in Bermuda, the internet is our window to the world. Upset that comfort level with interruptions in internet service, and you will incur the wrath of the individually confined along with serious businesses.
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Aug 18, 2012 7:00 amIRS introduces new filing compliance procedures
By Martha Myron
New filing compliance procedures for non-resident US taxpayers
Effective September 1, 2012, a new procedure from US Internal Revenue Service will be available for persons listed above who are not aware of, or now seek to come into, compliance with their US tax obligations. -
Aug 11, 2012 8:00 am
Money laundering is dirty business
Part 2 — Money laundering series.
Money laundering has been a focus in the media of late, due to the alleged non-compliance with, and circumvention of US Anti-Money Laundering (AML) regulations by international banking institutions situated in the United States which provide correspondent services to other foreign financial institutions. -
Aug 4, 2012 8:00 amGambling and the illusion of control
Another Cup Match, another Crown and Anchor Tent featuring the game of chance. Not really gambling, you know, all in good fun, wink, wink, but so much anticipation that one business is featuring a video game of the same name available locally on your cell phone.
Are we gamblers? -
Jul 28, 2012 7:43 am
How international money laundering affects us
By Martha Myron
Part One — in a series on Illicit Funds Flows and Money Laundering
There resides a famous quote in the media sphere, lingering into perpetuity somewhat distorted, but generally attributed to Bob Woodward and Carl Bernstein from their expose, the Watergate Papers; if you want to know what is really going on in an organisation (Watergate), follow the money (flows). Follow the money! -
Jul 21, 2012 12:01 amLibor scandal shakes trust of small investors
Does the small investor have any trust left in capital markets? Trading market volatility still arises reflective of the ongoing Euro zone crisis, the upcoming US election, the US debt ceiling issues and contemplated changes in US tax rates and the effect of far eastern economy slowdowns. Notable investment advisers and money managers have been exhorting investors in media publications to think about the longer term, that sitting in cash...
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Jul 14, 2012 7:00 amGovernment bond offering is a snapshot of state of Bermuda’s finances
On the morning of Tuesday, June 26, 2012 at 9.55am, the Government of Bermuda announced in New York the sale of another large tranche of Bermuda bonds (called Senior Notes), some $475 million USD worth paying 4.138% interest annually, with a fifteen year maturity date of November 2023. $472 was realised, three million less than the total offering, net of expenses, however, that sum does not appear to include the amount paid to the lead...
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Jul 7, 2012 7:00 am
A closer look at Government’s bond offering
The Government of Bermuda recently announced the launch and sale of yet another large tranche of Bermuda bonds (called Senior Notes), some $475 million USD worth paying 4.138% interest annually, with a fifteen-year maturity date of November 2023.
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Jun 30, 2012 7:44 amHow dividend payments can augment your income
Dividend payments generated by ownership of company stock have been in existence since the first informal group of investors pooled their resources to start a company.
The formal definition of a dividend is a cash distribution from company earnings to common and preferred stock equity shareholders. -
Jun 23, 2012 7:00 amHappy 4th of July, tax man
This year’s celebration of the fourth of July 2012 in the United States represents 236 years of a strong world-dominant, independent nation, a nation built upon the US constitution and the Declaration of Independence, that “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain inalienable Rights, that among these are Life, Liberty and the pursuit of...
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Jun 16, 2012 7:00 amThe measure of a man
By Martha Myron
“The true measure of a man is how he treats someone who can do him absolutely no good.” — (Samuel Johnson) -
Jun 9, 2012 7:00 amWhat are you going to be when you grow up?
So you’ve graduated!
What are you planning to be when you grow up? Do you have a goal, a dream, a mission to fulfill?
What did you declare as your university concentration? Did you research the job employment potential of this concentration before you elected that academic route? Has your choice translated into real dollars, real money earned by you? -
Jun 2, 2012 7:00 am
It’s your responsibility to know whether employer is making your tax, pension and health insurance contributions
The Responsibility and Protection of Employee Benefits: The elderly gentleman limps quietly into office where as usual, there is a bit of a line. He is there to inquire as to his final monthly benefit payment derived from his career contributions to the Contributory Pension account.
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May 26, 2012 8:36 amGraduates: understand your employment options
It is graduation time here in Bermuda. What are you going to do with the rest of your life? University, trades, industry, service organisations?
Finally, finishing school is a major milestone: the beginning of perpetual independence, control over yourself, your future, your choices, your belongings, your lifestyle, your opinions, and dreams (but then they have always belonged to just you).
These ideals and dreams all take money.
- Should liquor stores be able to sell alcohol on Sundays?
- Yes
- 71%
- No
- 27%
- Don't Know
- 1%
- Total Votes: 2016
- Poll Archive