Proudly Serving Bronx Communities Since 1988

Financial Focus: What do you want for free? The Investing Product or the Advice?

Neighborhood Notes: Free Immigration Service

By PROFESSOR ANTHONY RIVIECCO, MBA PFA

It’s been nearly 100 years in the making. For over 90 years, if one wanted to experiment with the financial markets, all one had to do was call their non-salaried “broker,” place a trade, charge a commission, and off you go. Until the commissions became too high. Then, by the revolution of financial planning in the 1990s, Wall Street mucky mucks came up with another idea: clients would pay financial “brokers” a fee for constructing portfolios and financial planning, typically a percentage of assets under management, and custodians collected interest on clients cash and margin, distribution fees from mutual funds and,

Financial Focus: Effectively Made Government-Assisted Payments

Neighborhood Notes: Free Immigration Service

By PROF. ANTHONY RIVIECCIO, MBA, PFA

I have always believed that the growth of government, in regard to social services, is irrelevant. However, I am a strong advocate on how specifically it is used. Some countries like The European Union treat social service payments differently than we do. The Working Family Payment in Europe, for example, works by giving a tax-free payment each week, to people on low incomes who have at least one child who lives with them and is financially dependent on them. The payment is linked to the number of children you have and the income you are in receipt of. If your income is less

Financial Focus: The Basics of Solving Your Financial Problems

Neighborhood Notes: Free Immigration Service

By PROF. ANTHONY RIVIECCIO, MBA PFA

We all want a better life! To have a good job or career. Make reasonable income. Be able to prioritize and budget. To be able to straighten out any debt or credit problems. Maybe buy a home or refinance a mortgage? To be able to save, invest, and retire, properly? How does one do that? Is their a magic formula? In short, yes. And it is called the financial planning formula. Or in short, ask yourself: Can you analyze where you are today? To get where you what to be tomorrow and the plan to get there for the future? Of

Financial Focus: How Did We Do Economically This Decade?

Neighborhood Notes: Free Immigration Service

By PROF. ANTHONY RIVIECCIO, MBA PFA

I get so tired of hearing it: President Donald Trump did this, he did that. Firstly, as my clients know, I do not integrate politics and finance together. Why? When it comes to personal finance, isn’t it about your money first? Thus, looking at the ending of this last decade, how are we doing? And if you wanted to play politics, who would have the answer? While many yell “fake news,” I tell my clients, “then try to read all news.” So, when you read stats from The U.S. Department of Labor, Goldman Sachs, Federal Reserve Bank, The Wall Street

Financial Focus: What Recession?

Neighborhood Notes: Free Immigration Service

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.

Financial Focus: New York Landlords to Lose 100% Profit Every 25 Years

Neighborhood Notes: Free Immigration Service

By PROF. ANTHONY RIVIECCIO, MBA PFA

Rent reform will be all the rage this summer as our elected officials will crow (now that tenants have the upper hand) about dealing with landlords. Yes, it is true. Now, landlords will have to find “new and innovative ways” to make money. Now, they can’t just throw you out or take advantage in the change of the Bronx. Yes, I mean the change! Not demographic, but from generational to transitional. For the last 25 years, the Bronx has become more of a transitional place where people move on. A borough president study from years ago shows that the average

Financial Focus: The Difference Between a Broker and An Advisor

Neighborhood Notes: Free Immigration Service

By PROF. ANTHONY RIVIECCIO, MBA PFA

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! Stockbrokers got paid, not based on their advice and expertise, but on the product they sold for a commission. Now is that in someone’s best interest? This was how Wall Street was born in the 1920s, but in the 1970s there was a “no commission” movement.

Financial Focus: Summer School Income Tax Planning

Neighborhood Notes: Free Immigration Service

By PROF. ANTHONY RIVIECCIO, MBA PFA

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. As I am sure you learned from your 2018 tax preparation, yes, your tax refund was probably lower! Remember, the 2017 tax reform changes effected many new things: lower individual and business tax rates,

Financial Focus: Competition Makes the Product Stronger and Cheaper

Neighborhood Notes: Free Immigration Service

By PROF. ANTHONY RIVIECCIO, MBA PFA

Editor’s Note: While this article is geared toward finance, it is also geared toward the love of wrestling fans. I should also disclose that I occasionally contribute (wrestling articles) to wrestling magazine 1wrestling since 1996. In 1964, 55 years ago, there was, a fourth wrestling organization created, The World Wide Wrestling Federation (WWWF). Vince McMahon Sr., jumping in the split pot, created by the National Wrestling Alliance (NWA) in 1956 (which spurred three other organizations prior) became the fourth, by having former NWA two-time (and the first WWWF) champion Buddy Rogers, lose to challenger, Bruno Sammartino and as the story