ver.1
 
images

PAINT THE TOWN RED: Go out and enjoy oneself flamboyantly

Marquess of Waterford-2-350x350

The phrase “paint the town red” most likely owes its origin to one legendary night of drunkenness. In 1837, the Marquis of Waterford—a known lush and mischief maker—led a group of friends on a night of drinking through the English town of Melton Mowbray. The bender culminated in vandalism after Waterford and his fellow revelers knocked over flowerpots, pulled knockers off of doors and broke the windows of some of the town’s buildings. To top it all off, the mob literally painted a tollgate, the doors of several homes and a swan statue with red paint. The marquis and his pranksters later compensated Melton for the damages, but their drunken escapade is likely the reason that “paint the town red” became shorthand for a wild night out. Still yet another theory suggests the phrase was actually born out of the brothels of the American West, and referred to men behaving as though their whole town were a red-light district.(history.com). The origins of phrases continues to be a fascination for me.

Unknown

Being Jewish, I have often wondered why Christmas is inundated with the color "Red." Thus, as long as it is the Christmas season, I thought we should include "Why Red and Xmas go together?"

An early use of red at Christmas were the apples on the paradise tree. They represented the fall of Adam in the plays. Red is also the color of Holly berries, which is said to represent the blood of Jesus when he died on the cross. (whychristmas.com)

images

As long as we are on the "Red Theme," might as well throw in "The Lobsterbacks" of the American Revolutionary War.

Term used by American colonists used to mock british soldiers. Unlike the term lobster, which refers to the British soldiers' bright red uniforms, "lobsterback" refers to the scars on the soldiers' backs. Whipping or flogging was common in the British army, and used for pretty much any disciplinary problems. Almost all British troops had scars from numerous lashings.

Patriot: Nice scars, lobsterback.
British Soldier: Go to hell.

The red coats were adopted in 1645 by the Parliamentarians (also known as Roundheads; those who wanted to limit the power of the monarchy) in the English Civil War when a professional Army was formed under the name of the New Model Army. Previous to this armies were essentially part-time militias and lacked the discipline and manoeuvrability of a professional army. Foot soldiers in the New Model Army were equipped with red coats.
The reason that the colour red was used is due to competitive pricing needed to dress this new professional army. At the time Venetian Red was the least expensive dye to buy.

This also had the advantage of making your forces visible. This was before modern warfare, armies would line up and just sort of fire into each other. The Red color is easily visible and meant their troops could be seen in low light, through haze, and other such conditions easier. When guns became a big thing, this was very useful because blackpowder leaves white clouds of smoke everywhere. We will finish with Bruce Springsteen's stirring rendition of "Santa Claus Is Coming To Town."

Santa

images-1

In the accounting world, a company is either in the "Black" (i.e. they made money) or in the "Red" (i.e. they lost money). The U.S. Treasury is certainly in the "Red" with a total deficit (i.e. they owe an enormous amount) of close to $23 Trillion! If you have absolutely nothing to do over the holidays, you MIGHT want to take a gander at the CBO economic forecast for the years 2019-2029. Quite depressing! Deficit Unfortunately, the debt of the older generation (65+) has expanded exponentially in the last 20 years. Personally, I have college education loans from my sons that will most likely follow me to the grave. Though, I suppose I could start fracking in the back yard or play the Mega/Power Lotteries on a regular basis (Good luck with both of those thoughts!) Boomer Debt Tragically, the average American retiree will be frantically treading water in the unenviable position of not having enough income to survive without working (part/full time), and weighed down by the ever present debt load. But, what about all those "401(k) Millionaires" that I hear about on the news you say? I hate to "burst your bubble," but it really is an infinitesimal portion of the retirement savers' universe. Average 401k Balance Do yourself a favor and click on this "Motley Fool" link for a bit of reality.
Fool.

So what is one to do? It is best to have a game plan. Do not "jump into the pool" with your entire paycheck! "Crawl Before You Walk" Start with a reasonable percentage (everyone is different but anywhere between 6-10%) and you raise it 1% annually in December. Believe me, it works! Now, if you can do more than "Bless You Child!

I will not debate the merits of Pre-Tax or Roth contributions as that seems to evolve into a "Tax Question" which is best left for the tax professionals and/or financial advisors. However, you may find this link helpful with your decision making process. Roth?

The Personal Deferral Limits for 401(k)/403(b)/457 for 2020 are:

$19,500 (Pre-Tax, Roth, or Combination)

If you are 50 years old or will turn 50 in 2020, add another $6,500 (Pre-Tax, Roth, or Combination)

NOTE: YOU CANNOT "DOUBLE UP" BY PUTTING THE MAXIMUM IN PRE-TAX AND ANOTHER MAXIMUM IN ROTH. ONE ANNUAL LIMIT PER PERSON EVEN ( IF YOU CHANGE JOBS DURING THE YEAR).

Lest we forget: Merry Christmas, Happy Hanukkah, Joyous Kwanzaa, and a Happy, Healthy, Prosperous New Year!

Sanford Prizant (President) The Prizant Group, Ltd.
sanford@prizantgroup.com/847-208-7618
www.prizantgroup.com/@prizantgroup

Call, Email, Text, Twitter, LinkedIn, Carrier Pigeon, Smoke Signals, Naval Flags

Advisory services offered through Capital Asset Advisory Services, LLC. A Registered Investment Advisor.
Nothing contained herein is to be considered a solicitation, research material, an investment recommendation or advice of any kind.

Clem

images-2
 
     
 
Powered by Mad Mimi®A GoDaddy® company