The cost of living varies greatly from state to state. Even though a dollar is a dollar everywhere, you can’t exchange it for the same amount of gas in California as you do in New Jersey. The costs of selling that gas varies with local tax structures and distance from the source. Local competition could…
Year: 2023
ESG Investing
Dear Garden State Trust: What is “ESG investing”? Is it a good idea? Can it be used in a trust? —Novice Investor Dear Novice: Some investors hope to align their investments closely with their social values. Once upon a time, that might have meant not investing in tobacco or liquor companies, but now there is…
Quantifying Risk
Ronald Howard, A Stanford professor, introduced the “micromort” in 1980 to measure the impact that particular behaviors have on the risk of death. He assessed individual actions and decisions at a very small scale to see how it all adds up, by utilizing a microprobability (a one-in-a million chance of some event) to quantify how…
What Is a “Corporate Fiduciary”?
Dear Garden State Trust: I understand that you are a “corporate fiduciary.” What is that exactly? Aren’t you just a different flavor of stockbroker or financial planner? —Shopping For Advice Dear Shopping: “Fiduciary” is a legal term that describes the duties that one party owes to another in a business relationship. A fiduciary duty is…
SECURE Act 2.0
When a software creator such as Apple or Microsoft makes changes to their main platform or operating system, they either adjust the number before the decimal of the system or afterward. One might expect, when going from Windows 10.1 to 10.2, to have minor incremental changes, but going from 10 to 11 to have more…