Homeowners should take a total-balance-sheet view when evaluating options for their mortgage.

If higher inflation persists, at least two mechanisms represent an ongoing risk to achieving expected real portfolio returns: Inflation will erode nominal returns and it will inflict a tax drag on assets.

Style boxes and other constructs of the investment industry are meaningless when it comes to portfolio theory, according to financial economist John Cochrane. Instead, investors should focus on cash flows and market equilibrium.

This article demonstrates why the conventional wisdom of “stocks in taxable, bonds in tax advantaged” is not reliable.

How should clients use tax-advantaged accounts? By quantifying the tax benefits of those accounts, we can refine recommendations on asset location and the traditional-versus-Roth decision.

With fixed income yields stubbornly low, should clients prepay their mortgage instead of investing in bonds? I argue this question is based on a false equivalence.

Single-premium immediate annuities (SPIAs) can deliver superior retirement outcomes by reducing sequence-of-return and inflation risks if a portion of the monthly payments are systematically invested in equities.

The sharp decline in interest rates this year has created the opportunity to realize tax savings on appreciated fixed income positions even when clients are in a high tax bracket.