No matter how the 2017 Tax Cuts and Jobs Act (TCJA) may alter your tax planning, we’d like to believe one thing will remain the same: With or without a tax write-off, many Americans will still want to give generously to the charities of their choice. After all, financial incentives aren’t usually your main motivation […]
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Every new year brings a new set of financial planning challenges and opportunities. With the passage of the tax reform bill at the end of 2017, the new year is no exception. These new rules represent the most sweeping change in the tax code in a number of years, with most of the new rules taking effect in 2018.
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Happy New Year! With 2017 in the rearview mirror, we’re pleased to reflect on – and share with you – a newly released 2017 Market Review. Download PDF Overall, the view is quite pleasant for most global and domestic returns alike, even though few financial forecasters were predicting this sort of slam dunk at the […]
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The start of a new year is always a good time to take stock (pun intended) of where you are. This certainly means a review of your investments in terms of your current asset allocation versus your target allocation.
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Happy New Year! Now that 2017 is a wrap, one of the best presents you can bestow on yourself and your loved ones is the gift of proper preparation for rest of the year. Want to get a jump-start on it? Here are 10 financial best practices to energize your wealth management efforts. Save today for […]
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What makes you happy? As we wish you and yours a Happy Thanksgiving, we’d like to take a moment to reflect on this timeless question. You probably already realize that piles of possessions by themselves aren’t enough. But it may be less clear what does generate enduring happiness and how we, as your financial advsior, might […]
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Eastman Kodak was one of the worlds most admired companies in 1996. Although Kodak invented the digital camera, their market dominance in film blinded them to the disruptive technology that they had created. By 2012 Kodak had filed for bankruptcy and in that same year, a 2-year-old digital photography company called Instagram with 13 employees sold for $1 Billion.
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We’ll wrap our series, the ABCs of Behavioral Biases, by repeating our initial premise: Your own behavioral biases are often the greatest threat to your financial well-being. We hope we’ve demonstrated the many ways this single statement can play out, and how often our survival-mode brains trick us into making financial calls that foil our […]
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We’re coming in for a landing on our alphabetic run-down of behavioral biases. Today, we’ll present the final line-up: sunk cost fallacy and tracking error regret. Sunk Cost Fallacy What is it? Sunk cost fallacy makes it harder for us to lose something when we also face losing the time, energy or money we’ve already […]
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So many financial behavioral biases, so little time! Today, let’s take a few minutes to cover our next batch of biases: overconfidence, pattern recognition and recency. Overconfidence What is it? No sooner do we recover from one debilitating bias, our brain can whipsaw us in an equal but opposite direction. For example, we’ve already seen […]
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