Two Key Concepts for Wealth Management and Beyond

Autor:	William Reichenstein, Stephen M. Horan, William W. Jennings
Rok vydání:	2015
Předmět:	Finance Economics and Econometrics Government 050208 finance business.industry 05 social sciences Asset allocation Taxable income Tax rate Principal (commercial law) Accounting General partnership 0502 economics and business Economics Key (cryptography) 050207 economics business
Zdroj:	Financial Analysts Journal. 71:70-77
ISSN:	1938-3312 0015-198X
DOI:	10.2469/faj.v71.n1.10
Popis:	Asset allocation is profoundly influenced by at least two underappreciated concepts. First, tax-deferred accounts—for example, 401(k)s—are like partnerships in which the investor owns (1 – tn) of the partnership principal and the government owns the remainder, where tn is the marginal tax rate when the funds are withdrawn. Second, the government shares in both the return and the risk of assets held in taxable accounts. The authors discuss these concepts’ implications for wealth management.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::686f4e989ffc189b169f80f479f53f19 https://doi.org/10.2469/faj.v71.n1.10 Zobrazit plný text záznamu Plný text ve formátu PDF