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Year End Tax Planning: 2016 and Beyond

global investingTax cuts are likely, but what form will they take? Corporate, estate, income, all of the above? While taxes will probably be lower in 2017, we focus on what we have control over right now. Here are some tactics we are currently employing on behalf of clients throughout the year, as well as over the final few weeks of 2016.

Those in higher tax brackets generally have the most to gain by taking advantage of these tactics, but middle-income taxpayers, including retirees, should also consider taking some of these steps now in order to save some extra money in the event of a tax cut.

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The Active Passive Powerhouse

Robo ImplementationMany of our potential and existing clients tend to ask if our investing strategy is active or passive. For years it has been assumed that you have to be one or the other. It is also assumed (depending on which camp you’re in) that one is better than the other. In our opinion, the argument over active vs passive management can be put squarely to bed.-- The answer to which investing strategy we use is…Both. It is called factor based investing and it is a strategy used by a company whose funds we use ---Dimensional Fund Advisors (DFA).

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Uncertainty and Reality

111416bucks carl sketch master768 v2“It turns out that the job of a real financial adviser involves helping people make important decisions in the face of irreducible uncertainty.” – Carl Richards
Time and again we are reminded that uncertainty is the one thing we can always count on. It is why we plan. We plan so that we can have some type of control in even the most uncertain of times. My mother always says, hope for the best and plan for the worst. While that sounds a bit morose, it offers sound advice to us as financial advisors and to you as those seeking the advice of experts when it comes to your finances, or life in general for that matter.

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Freakonomics Podcast | The Folly of Prediction

Fact: Human beings love to predict the future.

Fact: Human beings are not very good at predicting the future.

Fact: Because the incentives to predict are quite imperfect — bad predictions are rarely punished — this situation is unlikely to change.

But wouldn’t it be nice if it did?

We recently listened to this podcast since it is so apropos in the aftermath of our election and the Brexit vote. All predictions said there would be no Brexit and that Trump would lose. Both of these predictions were based on staggeringly small margins, yet people really counted on them. And people were really shocked when the predictions that were so narrow did not come to pass.

Take a listen.

Having the Confidence to Take a Chance on Your Dreams

retire at seaWhen Bob and Diane came to see us for the first time they had all the makings of the ideal client. They had diligently saved for their retirements and had a great deal of options in what they might be able to accomplish in terms of their retirement goals. It was clear to us however, they they weren’t as confident as we were.

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