Tax planning involves searching for and taking advantage of legitimate opportunities for tax reduction. As clients seek to reduce their tax bite, a common question is, “Should I move to another state to reduce my taxes?” For those on the East Coast, the move might be from New Jersey to Florida. On the West Coast, Californians may consider moving to Nevada.
Tony Robbins promotes fiduciary model
Tony Robbins’s book “MONEY: Master the Game” has met with mixed reviews. Some critics believe it is contradictory and confuses readers, while others believe Robbins’s book moves the ball in the right direction. One thing is for certain, it is increasing inquiries to fiduciary financial advisors.
In The Community: French Toast and Finance
The Millenial Generation is rising strong. They are graduating high school, entering college, and changing the face of the workforce. Some have called them “entitled” and “high maintenance,” but many millenials are smart, hard-working and college-bound. Millenials now make up one third of the American workforce, and the question is: What have we done as their predecessors to prepare them for […]
A lesson, from Prince to you
The fight for Prince’s estate has begun. Prince Rogers Nelson, the artist known as Prince, died in his home on April 21, 2016. During his life, the musician sold 100 million albums, with the album “Purple Rain” topping the list. His earning potential does not stop with his death. If his estate follows the pattern set by Michael Jackson, the money may continue to […]
The Only Goal That Matters is Yours
“Begin with the end in mind, put your goals in focus, and move your ideas into the real world.” Stephen Covey, Habit 2, The Seven Habits of Highly Effective People “We all have goals. Some of our goals are big, some small, but most importantly, they are ours. We run into problems, however, when we start comparing our goals to everyone else’s […]
New Ruling Holds All Financial Professionals to a “Fiduciary Standard”
The fiduciary standard is receiving significant press in light of the U.S. Department of Labor’s (DOL) approved expansion to the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA). In broad terms, fiduciary duty means putting the interests of the client first, ahead of profits. It means that the advice a client receives serves the client’s best interests, […]
Quarterly Market Review – Q1 2016
For an in-depth look at the world capital market performance and a timeline of events during the past quarter, here is our Quarterly Market Review: About Christopher Jones Christopher Jones is the Founder and President of Sparrow Wealth Management, a fee-only financial planning and investment management firm. Before entering the investment field, Chris was a management consultant for Deloitte Monitor. […]
Client Letter – Q1 2016
During the past quarter, the best performing asset classes were U.S. real estate, emerging markets, and inflation protected bonds. The following chart shows the 3-month, 5-year, and 10-year performance of many DFA funds (representing different asset classes) compared to the S&P 500 Index: Market Returns for the period ending March 31, 2016 DFA Fund / Index 3 Month Return 5 […]
Do You Need a Financial Advisor?
“It’s the best check my wife writes every quarter.” That’s what Professor Ken French says when asked why someone like him would need a financial advisor. French is the head of investment policy and a member of the board of directors for Dimensional Fund Advisors. He is also the Roth Family Distinguished Professor of Finance at the Tuck School of Business at Dartmouth […]
Why Should You Diversify Internationally?
Given how poorly international markets have performed relative to U.S. markets during the last 6 years, some investors may be wondering about the benefits of investing internationally. The simple answer is that different countries perform well at different times, and it reduces your risk and increases your long term returns when you’re broadly diversified across all of the world markets. While it’s very tempting to look […]
