Financial Focus: General Articles

Financial Focus: General Articles

Written on 06/22/2019
Professor Anthony Rivieccio, MBA, PFA


Financial Focus: The Path to a Bigger Tax Refund for 2021 (Part 1 of 7) - Norwood News

Most people mistakenly think that tax preparation is tax planning time. But by thinking this way, they think they could "erase" or "add" things that happened in 2019 when it is now 2020. So in short, if you did not plan in advance, that's why it's called tax planning, folks!

Financial Focus: Getting a Loan While Al Capone is Doing Your Taxes? | The Bronx Chronicle

By PROF. ANTHONY RIVIECCIO, MBA PFA Twenty five years ago, we woke up to the phrase rapid refund! And many of the big income tax preparations companies advertised this misleading phrase-and the people ran there-to find out it was not a refund but a loan instead.

Financial Focus: Work? Rich in Money or Rich in Life? - Norwood News

So what is the purpose of work? To take care of yourself? To take care of family? To build a career? Is having a job the same as a career? And does it provide you the same satisfaction?

Financial Focus: Ranked Choice Voting: 10+1=101?. Nov 9th 2019 By: Professor Anthony Rivieccio MBA PFA

Over the course of the last several years in New York City. we have seen a moving change in our citizeny. We have become, as some would say, much more Progressive, than in any time in our City Governance. Others would say, we are going back in time!. Yes, an oxymoron has taken place this election season! We have gone back to the Future! Think of Abobtt & Costello 13 x 7=28 skit ( or go to YouTube), but this math coming up, is both real- and from the future of the past- and yes, it really does add up to 28, and it's called, Ranked Choice Voting. Last week, voters decided to amend the city’s constitution to operate under a new ranked-choice voting system, which allows voters to rank their top five candidates on the ballot according to preference. According to the NY Board of Elections, The new ballot structure will eliminate New York’s traditional runoff elections, which take place for citywide offices if no candidate garners at least 40 percent of the vote. The new ranked-choice system in primary and special elections for mayor, public advocate, comptroller, borough president, and city council begins in January 2021. Under a ranked-choice system, voters rank up to five candidates on the ballot. Voters would not be forced to rank every candidate -- they could still choose just one if they want. A candidate who receives a majority of first-choice votes would win the election.

Or, as in some cases, going as far back as 20 - 30 years ago, it can be manipulated for racism or elimination In 1999, a Ms. Trotta , for example, in the Northeast Bronx, received 1,644 of nearly 4,000 votes cast in the Board 8 school board ranked choice elections. According to The New York Times in their 1999 coverage , " three poll workers at one polling site in the 82d Assembly District in the largely white northern part of the district met in secret a half hour before polls opened and agreed to write Ms. Trotta's name on about 29 of the paper ballots. At another polling site, the complaint continued, poll workers added Ms. Trotta's name to 56 ballots. The voters at those sites actually cast the votes".

According to the US Justice report, at least 100 ballots had Ms. Trotta's name already written on them. The Federal complaint also found that poll workers gave Ms. Trotta's campaign literature to voters when they arrived to cast their ballots, in violation of election law. The famed Stancik report also noted that the son of one poll worker, Marie Bonnano, was listed as having voted for Ms. Trotta even though he told investigators that he had been out of town. And the Stancik report said Marie Pennini and Christina La Forgia, two poll workers at a center for the elderly in Throgs Neck, admitted to writing Ms. Trotta's names on several ballots. They told investigators that they overheard James Vacca, a former school board member and the district manager of the local community board, giving these instructions to somebody else. According to Newspaper Gotham Gazette, when covering old NYC School Board Ranked Choice Voting suggests it is a great idea " If you're seeking confusing ballots, narrow margins of victory, and hand-counted votes,look no further than the contests for New York City's 32 community school boards. It takes weeks to get the results, and many befuddled voters don't understand how to mark their ballots". The Gazette determined " The school board elections employ a proportional voting system. When they go to the polling place, the voters rank those running for nine at-large seats in order of their preference on paper ballots, marking a 1 by their first choice, a 2 by their second and so on up to nine candidates". According to New York State Former Assemblyman Steven Sanders, a Manhattan Democrat who chaired the Education Committee, at the time, said, "the proportional voting system was designed to prevent a majority, white or black or whatever, from controlling each and every seat on a school board."

Now not withstanding the " corruption" that took place in local school boards from the 1970s to the 1990s, The LA Times, in their reporting, realized, as early as 1986, that the " get in process- the ranked choice voting process", was easy to pass through. The Times said, " Only a handful of eligible voters participate in school board elections--a mere 6% in the last round, in 1986--which means local political organizations can easily marshal the several hundred ballots they need to put their candidates on the board" So, I think I know why, after this election, I will have so many people I speak to, that will be struggling with the math of retirement : They will think Abbott & Costello are right! Professor Anthony Rivieccio, MBA PFA, is the founder and CEO of The Financial Advisors Group, celebrating its 24th year as a fee-only financial planning firm specializing in solving one’s financial problems. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Co-Op City News, The Bronx News, thisisthebronX.info and The Bronx Chronicle. Mr . Rivieccio also pens a financial article called " Money Talk". Anthony is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University. Financial Focus Interactive is now an app and a place where one can: Read, Listen, Watch Talk & Learn about Financial Solutions with like minded people and a live financial advisor. Financial Focus Interactive app can be found on the Google Play Playstore or on or internet app at: https://www.financialfocus.app For financial assistance, Anthony can be reached at (347) 575-5045. 


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Financial Focus: How To Lose $2 Billion in Two Weeks October 28, 2019 By PROF. ANTHONY RIVIECCIO, MBA PFA

Money, sex. Those are the two most private things for most people,” so when trying to win new clients you need to be careful, said Mr. Kenneth Fisher, founder and chairman of Fisher Investments, according to a report by Business Insider. He said, “It’s like going up to a girl in a bar … going up to a woman in a bar and saying, hey, I want to talk about what’s in your pants.” Yep, Mr. Fisher said that! He said this too, according to a recording obtained by CNBC: “I mean the, the most stupid thing you can do, which is what every mutual fund firm in the world always did, was to brag about performance, uh, in, in a direct mail piece, which is a little bit like walking into a bar if you’re a single guy and you want to get laid and walking up to some girl and saying, ‘Hey, you want to have sex?’”

These statements are from a man that you might have seen on the TV or heard on the radio, offering his free Investment books. He’s been around for over four decades! In the last two weeks, the New Hampshire Retirement System voted to end its $239 million relationship with Fisher Investments. Fidelity also announced recently it also would end its relationship with Mr. Fisher. The firm had managed $500 million for Fidelity’s Strategic Advisers Small-Mid Cap Fund. Thus far, since these comments were made two weeks ago at an industry conference, over six institutions have let Mr. Fisher go as their plan sponsor. What might be a bit crazy, though, is since Mr. Fisher was managing up to $95 billion a month ago, sadly this only represents a two percent decline in asset value.


But enough in annual commissions, (roughly $400,000) for him to make a one-time statement: “Some of the words and phrases I used during a recent conference to make certain points were clearly wrong and I shouldn’t have made them. I realize this kind of language has no place in our company or industry. I sincerely apologize.” Now comes the real key: It looks like, according to the above chart that the radio and TV ads over the decades have worked well for him and his firm. Will individual investors get rid of him? Keep him? Or do they even understand what is going on? Or does it even matter?

For institutions, we see it does! For individual investors, it’s going to be interesting to see, which is why you will probably never see or hear another statement from him again, except for those TV, radio, and FREE books. Professor Anthony Rivieccio, MBA PFA, is the founder and CEO of The Financial Advisors Group, celebrating its 24th year as a fee-only financial planning firm specializing in solving one’s financial problems. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Bronx News, thisisthebronX.info and The Bronx Chronicle. Mr. Rivieccio is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University. Financial Focus Interactive is now an app and a place where one can: Read, Listen, Watch Talk & Learn about Financial Solutions with like minded people and a live financial advisor. Financial Focus Interactive app can be found on the Google Play Playstore or on or internet app at: https://www.financialfocus.app For financial assistance, Anthony can be reached at (347) 575-5045.

Financial Focus: What Recession? August 20, 2019 By PROF. ANTHONY RIVIECCIO, MBA, PFA

Like room temperature, economists like myself look at the economy to see if it is under- or over-heating, quarterly and annually. Most economists use many tools for their analysis. Underneath are some from the Bureau of Economic Statistics (BES). The GDP “growth rate” shows how much more the economy produced than in the previous quarter. The ideal rate is between 2 and 3%. In a healthy economy, unemployment and inflation are in balance. In 2017 current GDP increased 4.7 percent. It follows a 4.2 percent expansion in the previous period which was the highest since the third quarter of 2014.

Sixty to seventy percent (60-70 percent) of GDP is measured by Consumer Spending. Thus by the BES: Personal Income and Outlays, June 2019 as per BES: June 2019: 0.4 percent (personal income) May 2019: 0.4 percent (personal income) Personal income increased 0.4 percent in June. It increased the same in May and 0.2 percent in April. Twenty percent (20 percent) of GDP is run by government spending. According to the BES, government receipts and expenditures were as follows: Current receipts 2nd quarter 2019: 1st quarter 2019 at $5.7 billion Current expenditures 2nd quarter 2019: $7.2 billion 1st quarter 2019: $7 billion


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International trade and investment take about 10 percent of our U.S. economy: June 2019: –$55.2 billion May 2019: –$55.3 billion The U.S. monthly international trade deficit decreased in June 2019, according to the U.S.Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $55.3 billion in May (revised) to $55.2 billion in June, as imports decreased more than exports. The previously published May deficit was $55.5 billion. The goods deficit decreased $0.8 billion in June to $75.1 billion. The services surplus decreased $0.6 billion in June to $20.0 billion. So, is this “flat growth” seeping into our goods and services prices: GDP Price Index 2nd quarter 2019: 2.4 percent 1st quarter 2019: 1.1 percent

So, all of these are what’s called government stats. Now let’s do some simple math to further some analysis: Last quarter vs. this upcoming quarter: Consumer Spending is flat (0%) 65 percent of GDP Government spending up 16 percent 20 percent of GDP International Trade seems flat as well 10 percent of GDP A recession? Really? Really? I think many of these anti-Trump are putting crazy ideas into pundits heads all of a sudden, yelling recession. If you notice, the best number of all, signaling both expansion, and possibly over expansion is: the rate of personal income. It’s going up! That’s supposed to be good in a healthy economy, right? And it’s looks like it could be kicking in at around , annually 2.5%. What recession? While I am not a Trump fan, I am a fan of common sense. If you believe that we are going toward a recession, then you agree with Trump, that interest rates are too high? What recession?

Professor Anthony Rivieccio, MBA PFA is the founder and CEO of The Financial Advisors Group, celebrating its 24th year as a fee-only financial planning firm specializing in solving one’s financial problems. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Bronx News, thisisthebronx.com and The Bronx Chronicle. Mr. Rivieccio is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University. Financial Focus Interactive is now an app and a place where one can: Read, Listen, Watch Talk & Learn about Financial Solutions with like minded people and a live financial advisor. Financial Focus Interactive app can be found on the Google Play Playstore or on or internet app at http://www.financialfocus.app . For financial assistance, Anthony can be reached at (347) 575-5045.

https://www.norwoodnews.org/id=29290&story=financial-focus-what-recession/

Financial Focus: What Recession? - Norwood News

Like room temperature, economists like myself look at the economy to see if it is under- or over-heating, quarterly and annually. Most economists use many tools for their analysis. Underneath are some from the Bureau of Economic Statistics (BES). The GDP "growth rate" shows how much more the economy produced than in the previous quarter.



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The Difference between An Advisor & A Broker

Financial Focus: The Difference Between a Broker and An Advisor - Norwood News

When I graduated with my BA from college in Business Economics, I did what every person did in 1987: got a business entry desk job or a job in Wall Street. Starting on Wall Street from 1992 to 1997, I learned the "hidden secret" about how some can make" a million dollars real quick!

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Financial Focus: Income Tax Summer School

Financial Focus: Summer School Income Tax Planning - Norwood News

By the time you read this, summer school for colleges will begin. Yes, it's time for college seniors to either make up those last classes, or adults, to continue their education. Myself, I will be spending the summer in the Business Department teaching what I believe will be the most important class that one could take this year: how to lower their tax burden in perpetuity.

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