The Big Picture

AUGUST 30, 2023

1 The Executive Summary gives you the flavor of the timing issue: “The persistent gap between the returns investors actually experience and reported total returns makes cash flow timing one of the most significant factors—along with investment costs and tax efficiency—that can influence an investor’s end results.

Assets 243

Assets Investing Investments Taxes 243

The Big Picture

OCTOBER 27, 2023

For the decade1 from 2012 to 2022, 10-year Treasuries yielded less than 3% and averaged closer to 2%. Muni bonds were yielding 2-3%, a tax equivalent (depending on the state you lived in and your tax bracket) of ~4-5%. Equities did well, averaging ~14% during the 2010s, but Bonds, not so much.

Portfolio 144

Portfolio Government Wealth Management Taxes 144

The Big Picture

NOVEMBER 27, 2023

This is before we get to the issue of capital gains taxes, which create a hurdle of (minimum) 20% on those pesky profits just to get to breakeven. Not only are the odds stacked against you, but very often systems that have successfully timed the market have been simply lucky, and do not succeed in out-of-sample tests.

Marketing 300

Marketing Marketing Math Retirement Planning 300

The Big Picture

MAY 21, 2023

We collect a much smaller share of our GDP in taxes every year. ( New York Times ) • Justice Thomas Ethics Review Questioned by US Court Leader in 2012 : Thomas faced complaints in 2011 over reporting wife’s income Judiciary leadership member objected to lack of information.

Insurance 293

Insurance Healthcare Nonprofit Ethics 293

Calculated Risk

AUGUST 31, 2023

Disposable personal income (DPI), personal income less personal current taxes, increased $7.3 The following graph shows real Personal Consumption Expenditures (PCE) through July 2023 (2012 dollars). The BEA released the Personal Income and Outlays report for July: Personal income increased $45.0 billion (0.2 billion (less than 0.1

Food 84

Food Taxes Economics 84

Nerd's Eye View

OCTOBER 30, 2023

As someone who has been speaking at 50–70 conferences a year for 18 years myself, I've seen the good and bad of our wide range of industry events, from the industry associations to the broker-dealers and insurance companies and RIA custodians, the rise of vendor conferences and media-driven events, private company events, and more.

Financial Advisor 234

Financial Advisor Numbers Budgeting Financial Planning 234

Calculated Risk

NOVEMBER 30, 2023

Disposable personal income (DPI), personal income less personal current taxes, increased $63.4 The following graph shows real Personal Consumption Expenditures (PCE) through October 2023 (2012 dollars). The BEA released the Personal Income and Outlays report for October: Personal income increased $57.1 billion (0.2 billion (0.3

Food 67

Food Taxes Economics 67

Calculated Risk

JUNE 30, 2023

Disposable personal income (DPI), personal income less personal current taxes, increased $86.7 The following graph shows real Personal Consumption Expenditures (PCE) through May 2023 (2012 dollars). The BEA released the Personal Income and Outlays report for May: Personal income increased $91.2 billion (0.4 billion (0.4 billion (0.1

Food 92

Food Taxes Economics 92

Calculated Risk

DECEMBER 22, 2023

Disposable personal income (DPI), personal income less personal current taxes, increased $71.9 The following graph shows real Personal Consumption Expenditures (PCE) through November 2023 (2012 dollars). The BEA released the Personal Income and Outlays report for November: Personal income increased $81.6 billion (0.4 billion (0.4

Food 67

Food Taxes Economics 67

Calculated Risk

JULY 28, 2023

Disposable personal income (DPI), personal income less personal current taxes, increased $67.5 The following graph shows real Personal Consumption Expenditures (PCE) through June 2023 (2012 dollars). The BEA released the Personal Income and Outlays report for June: Personal income increased $69.5 billion (0.3 billion (0.3 billion (0.5

Food 52

Food Taxes Economics 52

Discipline Funds

JUNE 27, 2023

Back in 2012 I wrote a short piece about how the ETF world was in the very early stages of eating up the mutual fund world. But this hyper tax efficient factor in ETFs is still widely misunderstood and underappreciated. At that time the ETF world had just 12% of the share of the fund world’s assets (chart via Ben Johnson ).

Retirement Planning 52

Retirement Planning Engineering Retirement Marketing 52

Brown Advisory

SEPTEMBER 12, 2016

Proposed Tax Law Changes Prompt Estate Planning Review achen Mon, 09/12/2016 - 06:00 A plan to maximize a family’s financial legacy usually saves the most tax by leveraging the longterm compounding of investments outside of the taxable estate. million in gift and estate taxes was paid in connection with this planning.

Estate Planning 52

Estate Planning Taxes Planning Clients 52

Brown Advisory

SEPTEMBER 12, 2016

Proposed Tax Law Changes Prompt Estate Planning Review. A plan to maximize a family’s financial legacy usually saves the most tax by leveraging the longterm compounding of investments outside of the taxable estate. We undertook productive planning in 2012 when it appeared that gift and estate tax exemptions were about to shrink.

Estate Planning 52

Estate Planning Taxes Planning Clients 52

Random Roger's Retirement Planning

MAY 28, 2024

I've been very actively volunteering since 2003 and the chief of our department since 2012. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. I won't post 47 selfies of me at a desk but I will include a couple of fire truck pictures.

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Harness Wealth

AUGUST 3, 2023

Transitioning From Employee to Entrepreneur Establishing Your New Business Marketing Your Firm: How to Find New Clients Technology and Tools: How to Run a Modern Practice Harness Tax: A Trusted Partner for Your Journey Opportunity Awaits: Why Should You Go Solo? The tax industry is changing.

Accounting 52

Accounting Taxes Clients Planning 52

Investing Caffeine

MAY 2, 2022

No information accessed through the Investing Caffeine (IC) website constitutes investment, financial, legal, tax or other advice nor is to be relied on in making an investment or other decision. Please read disclosure language on IC Contact page.

Electronics 59

Electronics Economy CFP Government 59

Random Roger's Retirement Planning

JULY 22, 2022

Of course it was more expensive than that because of the tax and penalty. We bought our current cabin in 2012 and sold the first one in 2014. We bought our current cabin in 2012 and sold the first one in 2014. Like I said, we took calculated risks. So return on investment.

Investing 71

Investing Investments Taxes Retirement 71

Trade Brains

JANUARY 3, 2023

Separated from the Minda Group in 2012, can this be a multi-bagger as well? The group was split in 2012 with NK Minda getting control of Minda Industries and Ashok Minda receiving Minda Corporation. Separated from Minda Industries, Minda Corporation was listed on the stock exchanges in March 2012. over the last five years.

Planning 52

Planning Manufacturing Startup Taxes 52

The Big Picture

MAY 9, 2024

Not if you spend tax season on a boat! I doubt he’s run the real numbers of being invested in the stock market tax deferred with an additional company match. There is lots more: A slew of bad tax advice likely to get-you-sent-to-jail-for-tax evasion: Live on a boat during tax season! Want to earn more money?

Media 335

Media Taxes Math Investing 335

Random Roger's Retirement Planning

OCTOBER 19, 2023

From the start of 2012, Yahoo has APO up 609% and PSP up 22%. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. If you ran this using Blackstone (BX), the test goes back just as far and the result is reasonably close the the portfolio using Apollo.

Asset Allocation 56

Asset Allocation Portfolio Assets Taxes 56

Cornerstone Financial Advisory

JANUARY 9, 2023

An Offer in Compromise is an agreement between a taxpayer and the IRS that settles a tax debt for less than the total amount owed; this is a genuine service offered by the IRS. This information is not intended to be a substitute for specific individualized tax advice. Fast Company, August 22, 2012. ” – Winston Churchill.

Marketing 59

Marketing Marketing Economics Taxes 59

Yardley Wealth Management

SEPTEMBER 14, 2022

2017: The year-end Tax Cuts and Jobs Act (TCJA) upends U.S. 2012: The U.S. Civil unrest rides high across a gamut of socioeconomic concerns, and a divisive U.S. presidential election looms large. 2018: Two U.S. government shutdowns occur—in January and again at year-end, with the latter lasting more than a month. 2013: A 16-day U.S.

Investing 52

Investing Investments Wealth Management Government 52

The Big Picture

APRIL 4, 2024

But what did people do in 2012 when they saw, wait a minute, my house price is recovering. And without that, you know, investment in the economy, we weren’t going to get the economy forward. So they cut rates to zero to force that money. My stock portfolio is recovering. My net worth is starting to go back up. They felt better.

Portfolio 157

Portfolio Management Assets Economy 157

Trade Brains

MARCH 31, 2023

By 2012, Kingfisher Airlines was declared as an NPA by SBI. Finally, the grounding of Kingfisher Airlines in 2012 and the cancellation of its license in December 2012 ended the Kingfisher journey. The airlines in India were hit harder due to the taxes and levies imposed by the government. What went wrong with Kingfisher?

Banking 52

Banking Transportation Taxes Ethics 52

Random Roger's Retirement Planning

OCTOBER 1, 2023

This back test can only go back to 2012 and you can see that VBAIX blows the other two away. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation.

Portfolio 53

Portfolio Management Risk Management Taxes 53

Good Financial Cents

DECEMBER 22, 2022

2012: 13.41%. From there, you’ll pay a 0.25% annual investing fee to access multiple portfolio options, advanced tax-savings tools, automatic portfolio rebalancing, and other perks. While not always the case, some states even offer tax breaks for contributing to a 529 plan. 2020: 16.26%. 2019: 28.88%. 2018: – 6.24%.

Investing 108

Investing Investments Risk Tolerance Accounting 108

Brown Advisory

MARCH 1, 2016

Kennedy’s will included a little known technique at the time—called a Charitable Lead Trust (CLT)—to provide a longterm benefit to charity and her family, while minimizing her estate tax liability. It can be established during one’s lifetime or at death, with a goal of minimizing gift or estate tax. The Waltons are not alone.

Taxes 52

Taxes Estate Planning Assets Communication 52

FMG

MAY 22, 2023

So I chose to join the family business as an advisor in 2012 and continued on until becoming president and CEO in 2021. We’ve made several changes to our business since 2021, going from being a traditional investment advisor to becoming a holistic financial planner with a focus on tax planning, investments, and estate planning.

Wealth Advisor 52

Wealth Advisor Financial Advisor Clients Planning 52

Random Roger's Retirement Planning

OCTOBER 30, 2023

If you go back to 2012, BTAL's inception, Portfolio 2's outperformance narrows to 249 basis points and the standard deviation is higher than Portfolio 1's by 44 basis points which is actually pretty close.

Portfolio 40

Portfolio Management Numbers Taxes 40

Brown Advisory

NOVEMBER 12, 2015

As 2015 comes to a close, we remind our clients and friends of how important it is take time to review new tax rules, consider tax-saving opportunities and review investment and asset-protection plans before year’s end. In this letter, we outline a number of tax-saving and other opportunities to consider before the close of the year.

Planning 52

Planning Taxes Distribution Medical 52

eMoney Advisor

DECEMBER 5, 2022

It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. The Center for Nonviolent Communication , 2012. DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. Planning for Conflict in Client Relationships.”

Financial Planning 73

Financial Planning Planning Financial Planner Communication 73

Brown Advisory

SEPTEMBER 12, 2016

Unlike in 2011—2012, Greece is not on the verge of default and a handful of European countries do not require bailouts. Recent history suggests that interest rates should not be so low. The outlook for the U.S. economy is brighter today than in 2009, when 10-year Treasuries hovered around 3.2%.

Communication 52

Communication Banking Electronics Clients 52

Brown Advisory

SEPTEMBER 12, 2016

Unlike in 2011—2012, Greece is not on the verge of default and a handful of European countries do not require bailouts. Recent history suggests that interest rates should not be so low. The outlook for the U.S. economy is brighter today than in 2009, when 10-year Treasuries hovered around 3.2%.

Communication 52

Communication Banking Electronics Clients 52

Brown Advisory

SEPTEMBER 21, 2022

The idea has since been refined more quantitatively, first by Benoit Mandelbrot in his 1982 book, The Fractal Geometry, and more recently by Nassim Nicolas Taleb in his 2007 book, The Black Swan: The Impact of the Highly Improbable, and then again in his 2012 book, Antifragile: Things That Gain from Disorder.

Portfolio 86

Portfolio Manufacturing Financial Services Investing 86

The Big Picture

JULY 12, 2023

They also offer a suite of premium analytic mapping tools that cover: Over/Under Valued %, Value/Income Ratio, House Payment as % of Median Income, % Crash from 2007-2012, Shadow Inventory %, Cap Rate, Buy vs Rent Calculator %, Rent as a % of Income.

Sales 245

Sales Taxes Economy Marketing 245

Brown Advisory

SEPTEMBER 19, 2023

The idea has since been refined more quantitatively, first by Benoit Mandelbrot in his 1982 book, The Fractal Geometry, and more recently by Nassim Nicolas Taleb in his 2007 book, The Black Swan: The Impact of the Highly Improbable, and then again in his 2012 book, Antifragile: Things That Gain from Disorder.

Portfolio 52

Portfolio Financial Services Investing Investments 52

Brown Advisory

SEPTEMBER 19, 2023

The idea has since been refined more quantitatively, first by Benoit Mandelbrot in his 1982 book, The Fractal Geometry, and more recently by Nassim Nicolas Taleb in his 2007 book, The Black Swan: The Impact of the Highly Improbable, and then again in his 2012 book, Antifragile: Things That Gain from Disorder.

Portfolio 52

Portfolio Financial Services Investing Investments 52