Single Point of View

Single Point of View is our way to occasionally share planning ideas relating to personal finance. Our goal is to pass along concepts that you may not be exposed to on a daily basis.

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Year-End Tax Reform Planning

Given the passage in both the House and Senate of the Tax Cuts and Jobs Act, the stakes for year-end tax planning are higher than usual.  We do not know what final legislation will look like when it comes out of reconciliation but there are themes in the House and Senate tax bills that give us insight into beneficial tax moves to make prior to year-end.  We’ve highlighted some of the proposed changes and related planning opportunities to consider. Deductions Both the House and Senate plans agree on increasing the standard deduction amount, nearly doubling the current allowance:   Current (2018) House Senate Single $6,500 $12,200 $12,000 Married $13,000 $24,400 $24,000 Head of Household $9,550 $18,300 $18,000 On the flip side, the proposed legislation makes significant changes to expenses that are allowed as itemized deductions.  Some notable changes include: Medical expense deduction – the House bill eliminates the deduction completely while...
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The Conversation Project


Many of us will be enjoying the next few days surrounded by family and friends.  I'm thankful to have this time to spend with mine.  There will be conversations about kids, sports, work, and I'm guessing in many houses in America, politics (hoping to avoid the last one at our Thanksgiving dinner).  There is another conversation that most families avoid because it is very uncomfortable, however, it is an important one: Death.  Or better put, how we want to live at the end of our lives.  The care we want. The care we don't want.  Who is going to decide.  It's Estate Planning for the heart. There is a wonderful non-profit group, The Conversation Project, who are dedicated to helping people talk about their wishes for end of life care.  It's always too soon to talk about it, so they've tried to help make the conversation easier.    It's very hard for...
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Roll-BACK Your IRA?!

A quick Google search yields HUNDREDS of articles explaining why you should roll a 401(k) to an IRA – but as our Chief Investment Officer, Rene, alluded to in his recent post “The Twisted Logic of IRA Rollovers”, there may be reasons to keep retirement assets in an employer sponsored qualified plan (401(k), 403(b), etc.) or roll the balance to a new employer’s plan.  Depending on the plan, potential benefits of an employer sponsored qualified plan that are not afforded to Rollover IRAs include: -          Loan capabilities -          Additional creditor protection -          Access to funds without penalty as early as 55 -          Possible access to lower cost investments (typically via larger company plans) -          Roth conversions for nondeductible IRA contributions (avoid pro-rata tax treatment) -          Delaying required minimum distributions if you work past 70   Simply put, while a Rollover IRA may make sense in many situations,...
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Boston Business Journal Profile: Rene Jarquin

jarquin rene 24  We are very proud to see this profile of Rene Jarquin and SPP in this week's Boston Business Journal.  Hope you enjoy reading about him.   Outside the Box: Rene Jarquin builds social capital in wealth management Single Point Partners CIO says know the clients you are working for Nov 3, 2017, 6:00am EDT W. MARC BERNSAU Rene Jarquin, chief investment officer at Single Point Partners. Rene Jarquin Title: Partner and chief investment officer at Single Point Partners Age: 47 Education: Bachelor’s degree in economics, The Wharton School at The University of Pennsylvania, 1992; Master’s degree in business administration, Kellogg School of Management Northwestern University, 1997 Residence: Wellesley After 12 years at BNY Mellon, Boston-area financial executive Rene Jarquin has leapt to a boutique wealth management firm with a business model he describes as transformative. In March, Jarquin became partner and chief investment officer of Back Bay-based Single Point Partners, a 5-year-old wealth management firm that...
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The Twisted Logic of IRA-Rollovers

Rolling your 401(k) or 403(b) retirement balance into a broker’s ‘managed IRA’ program is too often the wrong choice done for the wrong reasons.  ‘Financial Advisors’ will justify the roll-over based on claims of broader choice, greater control and simplification at no extra cost.  More often than not, these arguments are based on incomplete disclosures of costs/benefits; and in some cases there is nothing more behind the ‘advice’ than just a revenue grab at the client’s expense.  After all, ‘gathering assets’ is the end-all, be-all in the brokerage business. In the last few years institutional retirement plans have come under massive legal pressure to offer their employees lower-cost investment options, mainly via Index-Tracking funds (‘Index Funds.’)  This is an immensely positive development for the investing public and a very negative one for the private wealth management industry.  Every major brokerage, insurer and bank has their eyes trained on this massive retiree...
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