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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Equifax Security Breach – What to do?!

Equifax – one of the three primary credit bureaus – announced last Thursday, September 7th, that they were the victims of a massive cyber-attack spanning from May – July 2017.  While cyber-attacks have unfortunately become more common in recent years, this attack is particularly notable as it is considered the largest breach of consumer data in US history, impacting approximately 143 million people in the US.  The most sensitive of personal data was compromised in this breach including Social Security numbers, birth dates, addresses, driver’s license numbers, and it is believed that around 209,000 people had credit card information stolen.       Here’s Our View on the steps necessary to remain protected from the ramifications of a breach of this magnitude.   Check to see if you were affected Equifax has set-up an online portal that allows individuals to check whether their personal data was compromised as part of the...
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Seth Corkin: SPP Welcomes New Personal CFO

Seth 3Single Point Partners is very excited to announce the addition of our newest Personal CFO, Seth Corkin. I was first introduced to Seth through a pro-bono financial planning initiative we are both engaged in.  Through these initial interactions, it was immediately clear to me that he is a highly talented individual with a passion for financial planning and a strong commitment to giving back by sharing his knowledge and expertise.  At one meeting the leader of the non-profit organization read aloud a testimonial from one of the participants in the program.  This person made an emotional statement about the respect he treated her with and how working with Seth had changed her life for the better.  Although this was through a volunteer engagement, he made her feel like an important client.  Seth then spoke from the heart about how meaningful the relationship was to him as well.  The point he made...
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When a "Dream College" Isn't So Dreamy

For a few weeks this summer we were once again lucky enough to have Liam Cronan join our office as a summer intern.  Liam has just finished his freshman year in college, he'll be spending the second half of his summer working on a political campaign.  While Liam was here he worked on a number of projects, the most prominent was building the framework of the Investment Expense Analysis tool which many of our clients have already seen the results of.   Liam had a very successful first year of college, from a grades standpoint.  However, he learned that Bentley University was not the right fit for him.  In the guest blog post below he shares his experience in coming to realize that he was at the wrong school, and the process he went through as a transfer applicant.   Almost every high school student who chooses to apply to college...
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Stock-picking Mutual Funds die hard… for now

The ability of traditional Mutual Fund stock-pickers to deliver out-performance has been decaying for 2 decades. A recent WSJ editorial by renowned finance scholar Burton Malkiel sites the most recent stats published by Standard-&-Poor's and they are absolutely ugly. •“More than 90% of active US managers under-performed their benchmark indexes over a 15-year period.”  •“Over 85% of small-cap managers under-performed the S&P Small-Cap Index.” •“Since 2001, 89% of actively managed International funds had inferior performance. “ •“Even in less efficient Emerging markets, index funds outperformed 90% of active funds” The total value of US public stocks is worth 25 Trillion dollars, and though active stock-picking funds still dominate with market share at around 67%, over the last 5 years their share has declined by 12%.  In terms of new money flows, the Market-Tracking index products have been taking 75-80% of the available dollars. This is partly a reflection of younger investors’...
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Making Your Estimated Tax Payments Online

With tomorrow being June 15th, we wanted to update this post from last year as a reminder to pay your quarterly tax estimates.  Below are the links to simplify things and make these payments online. For many of us who have income that is not subject to tax withholding (for example: earnings from self-employment, interest, dividends, rents, alimony, etc.) April 15th, June 15th, September 15th and January 15th represent a day of writing checks to the IRS. These are known as estimated tax payments.  If you've ever found yourself scrambling to find your vouchers, or, the address to mail them to on the due date there is a simpler way.   Did you know you could make these payments to the IRS using their "Direct Pay" service? For Federal payment, use this link for the IRS site: http://www.irs.gov/Payments/Direct-Pay   If you are in MA, you can also make your estimated state...
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