Todd Schanel, CFA, CPA, CFP®

This is No Time to Abandon Diversification

One of the key investment principles we emphasize at Core Wealth Management is that investing solely in US large company stocks does not provide sufficient diversification. True diversification requires spreading investments across different asset classes that behave differently at various times. This means building a globally diversified portfolio that includes US large company stocks (such…

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Five Tax Concepts Central to Comprehensive Financial Planning

By strategically managing your tax payments, both in amount and timing, you can significantly enhance your chances of achieving your financial goals. This is why tax planning is such an integral part of financial planning. In this article, we will explore five essential tax concepts that the planners at Core Wealth Management consistently utilize. While…

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Investing versus Speculating

When it comes to determining how to allocate your savings, what is the difference between investing and speculating? Investing is characterized by: Productive capacity: An investment involves deploying capital in a company, property, or other entity that produces something of value. A stream of benefits: The value produced by an investment can ultimately be measured…

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Calculating the Payback Period on a Mortgage Refinance

As explained in our article on “How to Evaluate a Mortgage Refinance”, the decision to refinance comes down to evaluating the benefit of the interest savings against the costs of the refi.  A traditional approach to evaluating this tradeoff is to calculate a payback period, which is defined as the number of months it takes…

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The SECURE ACT’s “10-Year Rule” for Inherited IRAs

On Friday, December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law.  The broad intent of the legislation is to make it easier for families to save more for retirement, but it also includes several unfavorable provisions intended to offset the loss of tax revenue likely to result…

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What is Tracking Error Regret?

A central tenet of our investment philosophy is diversification. Furthermore, we advocate for “real diversification”, which means owning thousands of stocks in companies of all sizes (large and small), geography (U.S. and non-US) and investment style (value and growth).  This type of diversification represents the only “free-lunch” there is in investing. But real diversification also…

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