DMJ Wealth Advisors

Holistic financial planning and investment guidance for successful businesses and families.

[DMJ Wealth Advisors @DMJWealth]

Investment Advisory Services offered through DMJ Wealth Advisors, LLC, an SEC Registered Investment Advisor.

Representatives may transact business only in state(s) in which they are properly registered or licensed.

[Hon. Vickie Paladino @VickieforNYC]

My official statement on the budget, as read in chambers this evening, before I was muted:

"I’ve been a member of this city council going on five years now. And I’ve voted yes on the budget every year so far. All of them had problems. All of them contained things I didn’t like or agree with. But I’m not here to demand perfection, I’m here to work with what we have — within reason.

Unfortunately, this year is very different. And I must vote no.

Even in the context of our dysfunctional city government, this year’s budget represents a complete departure from reality, spending more money than we’ve ever spent — precisely when we can least afford it.

We have never seen a larger single-year increase in spending in the history of this city. Requiring not only new taxes from Albany, but pension deferrals and an eight billion dollar bailout from the Governor. And even still, the revenue projections are optimistic at best.

This isn’t a ‘balanced budget’ — it’s budget by bailout. A ticking time bomb.

And it’s the beginning of a fiscal death spiral that our current leadership will not be able to pull us out of, because they lack both the experience and the seriousness to do so.

What will we do next year? And the year after?

The only responsible way for our city to spend more is to grow the economy. New businesses, new private economic development, major investment. That’s how you grow an economy, and get more money into the city budget.

But we’re doing the opposite. Deliberately chasing away everything our city needs to sustain our spending with childish political attacks on very people we need most.

Our tax base is isn’t growing. It’s leaving.

The middle class, the financial sector, and businesses of all sizes are choosing to go elsewhere. And they’re being replaced with low-income foreigners and transplants who require significant subsidies just to survive here.

We’re trading investment banks and small businesses for delivery app drivers on welfare, and nonprofit workers whose paychecks ultimately come from government spending. That isn’t growth.

And when ordinary New Yorkers complain, they’re told to shut up and leave if they don’t like it. And that’s exactly what many are doing.

This is obviously unsustainable. But nobody in this chamber really seems to care.

And what are we getting for our money? We already spend more in real dollars AND per capita on everything from schools to housing to healthcare than anyone else in the country.

We can’t even build a public bathroom for less than three million dollars.

Why would anyone believe that shoveling even MORE money into this broken system will improve anything?

It won’t. I guarantee that we’ll all be sitting here again a year from now, with the exact same problems, listening to the exact same lectures about how the city needs even MORE money, AGAIN.

At what point do we, as a City Council, start to demand results before we allow more spending? When do we demand accountability?

The answer seems to be never. Because this spending isn’t really meant to fix anything. It’s meant to keep the machine going, keep the money flowing into the special interests and nonprofits and the political allies of the Mayor, with no real consideration for anything else.

I realize a lot of people don’t want to hear this, but we are a municipal government, not a sociology experiment or a political slush fund or the United Nations.

We are here keep the lights on, keep the water running, pave the roads, and put criminals in jail. That’s it. And we would be very well advised to get back to basics. Because we’re failing on nearly every count, other than our peerless ability to hand out free money.

Shame on this Council for pretending this budget is anything other than a disaster. I know that my single vote ultimately doesn’t matter here, but nonetheless I won’t put my name on it. I respectfully vote no."

[Financial Planning @finplan]

Talent identification and retention act as key drivers in many M&A deals and recruiting moves across the industry.

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[Ray Dalio @RayDalio]

I have seen some people who have repeatedly failed at something hold strongly to their opinions of how it should be done, even when their opinions are at odds with those who have repeatedly done it successfully. #principleoftheday (1/2)

[Jeff Levine, CPA/PFS, CFP® @CPAPlanner]

💡Planning Thought💡

Re: New 5219-to-Roth IRA transfers

If a change in beneficiary won't start a new 15-year hold period (seems that's the case), wealthy 529 plan owners should generally consider leaving a small balance in a 529 plan, even if education costs > $ in the 529...

[Beacon Pointe @BeaconPointeRIA]

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[DMJ Wealth Advisors @DMJWealth]

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You taught them how to read and how to ride a bike, but have you taught your children how to manage money?

[DMJ Wealth Advisors @DMJWealth]

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Should I pay off my mortgage before I retire? The answer is more complicated than you may think.

[DMJ Wealth Advisors @DMJWealth]

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What are the critical estate documents that you need in your personal life?

[DMJ Wealth Advisors @DMJWealth]

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What are some of the different strategies to help manage cognitive decline?

[DMJ Wealth Advisors @DMJWealth]

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Diversification and asset allocation are approaches to help manage investment risk.

[DMJ Wealth Advisors @DMJWealth]

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If you have been meaning to get around to addressing some part of your financial future, maybe it’s time to develop a strategy. Don’t let procrastination keep you from pursuing your financial goals.

[DMJ Wealth Advisors @DMJWealth]

Asset allocation is a critical building block of investment portfolio creation. Having a strong knowledge of the concept may help you when considering which investments may be appropriate for your long-term strategy.
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[DMJ Wealth Advisors @DMJWealth]

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The business cycle – also known as the economic cycle – refers to fluctuations in economic activity over several months or years. Tracking the cycle helps professionals forecast the direction of the economy.

[DMJ Wealth Advisors @DMJWealth]

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Systematic withdrawals do the precise opposite of systematic investments by selling fewer shares when the price is high and more shares when the price is low. Take a look at what the best option is for you.

[DMJ Wealth Advisors @DMJWealth]

If you’re uncertain about your estate strategy, it may be a good time to review the approach you currently have in place.
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[DMJ Wealth Advisors @DMJWealth]

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[DMJ Wealth Advisors @DMJWealth]

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[DMJ Wealth Advisors @DMJWealth]

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[DMJ Wealth Advisors @DMJWealth]

It is almost TAX Time again. What better time to give your household budget a checkup. https://t.co/hh5DumuYcy