Emmy Sand Castle

Our Marketing Director applies the same iconoclastic design and critical thinking skills to sand castle construction as she uses in retirement portfolio construction.


June - July - August 2023

Announcements, colorful commentary, and useful financial planning tidbits from John H. Robinson

Editor s Notes

Murphy's Law and the TD Amertrade-Schwab Integration...Let's just say it's not going as smoothly as Schwab promised. Financial Planning magazine reported that Schwab described the integration as a "snoozefest," - I haven't slept in two days. READ MORE...

Pro Tip

3 Pro Tips for Using the Schwab Alliance Website... Learn how to access your TD Ameritrade and Schwab statements, set account nicknames, and grant/receive viewing access to all accounts in your household. READ MORE...

NOTE: The TD Ameritrade login link on the Client Portal dropdown menu on the FPH HOME page has been replaced by the Schwab Alliance login link.

Aloha means goodbye

Our loss is Kamehameha School’s gain...It is with mixed emotions that I announce that Laurey has decided to leave the financial planning industry at the end of this month to return to elementary school teaching. She has been a valuable member of our team for the past two years and she will be difficult to replace. At the same time, we are happy for her as she has always said that her true passion is teaching. Laurey, we wish you the best.


Discretion is the Better Part of Valor...and Portfolio Management...This article explains why we will soon be asking all FPH clients to grant us discretionary trading authority in their Schwab accounts.


Yield Curve

How to Invest When Down is Up...At this time, interest on short-term interest-bearing investments, such as T-bills and CDs is higher than the rates paid on intermediate and longer-maturity bonds. For guidance on how to invest when the yield curve is inverted, READ MORE...


Blue Light Special...What's not to love about government agency bonds paying 6% interest state tax-free? In a word (actually two words), Call Risk. READ MORE...


Index Life and Annuity Products are Hot - Should You Buy? Let me be as clear as possible...


Related Article:
Stock Selloff Hits Life Insurer's Fastest Growing Product (Wall Street Journal)


Why AI Poses No Threat to Financial Planners... I wrote this meandering, satirical post to help pass the time on the five-hour flight from Oakland last week. READ MORE...

Great Reads1

This segment is devoted to educating FPH clients about important financial planning concepts through the sharing of timely articles.


I’ve tried hard to understand the arguments for crypto and figure out why people are so excited. I can’t find value there.
- Sekth Klarman, Co-founder of $30 billion Boston-based hedge fund, Baupost Group.

Seth Klarman calls crypto ‘seductive idea’ with little substance behind it(MarketWatch, 6/27/2023)


Broken Clock Theory Part II...In 2020, I wrote an article about a Nobel Prize-winning economist who was lauded for correctly calling the 2007-2009 severe bear market in stocks. In the post, I pointed out how he had been predicting a market crash for years before it happened and has continued to predict it will happen again for the 15 years since. A recent article in the Wall Street Journal reprises that story with a different lead character.

How to Get Rich and Famous From a Stock Market Crash (Wall Street Journal)


Let's Hear it for Retirement Savers ... In 2022, the total average contribution rate to 401(k) plans was 11.3% of pay, according to Vanguard’s latest How America Saves report. That’s including any company match, and it’s just shy of the 12% to 15% that Vanguard recommends workers sock away for retirement.

This respectable savings rate is notable given the market tumult that we saw last year. Rather than pull their money out, workers generally stuck with the program. Now, they’re rewarded by participating in the stock market's recovery.

Not Cowed by Losses, U.S. Workers Kept Saving at Record Rates in 2022 (Barron's, 6/15/2023)


NIIT is a Four-Letter Word... Many Americans are unaware that Uncle Sam has an extra tax that he reserves just for special people. The Net Investment Income Tax or NIIT may seem small at 3.8% but when added to existing marginal tax rates it gets "real" fast...and it is hitting more and more American investors who do not necessarily feel affluent.

The ‘You-Make-a-Lot-of-Money Tax’ Hits More Americans (WSJ, 6/23/2023)


Apropos of Nothing

Curious, sometimes humorous snippets of daily life that may or may not have anything to do with financial planning.

Tiger Shark

"The one that got away"...When people ask how it is that I live in Hawaii but do not surf, this video will serve as EXHIBIT A.

Expandable House

We Thought We Won

Maybe the coolest residential design concept since the Bauhaus Group...This $480K prefab cabin slides apart to reveal a glass-enclosed room.
Architect Caspar Schols has erected another of his ANNA designs, which features gabled structures on tracks that can be reconfigured. Click the button below to see the article and 21 photos:

J R Robinson 4111E

John H. Robinson
Financial Planning Hawaii
677 Ala Moana Blvd, Suite 605
Honolulu, HI 96813
(808)564-0654 or jr@fphawaii.com

Schedule an Appointment or Zoom Meeting


Securities offered through J.W. Cole Financial, Inc. (JWC) member FINRA/SIPC. Advisory services offered through Financial Planning Hawaii and J.W. Cole Advisors, Inc. (JWCA). Financial Planning Hawaii and JWC/JWCA are unaffiliated entities.

Fee-only financial planning services are provided through Financial Planning Hawaii, Inc, a separate Registered Investment Advisory firm. Financial Planning Hawaii does not take custody of client assets nor do its advisers take discretionary authority over client accounts.

The information contained herein is general in nature. Neither Financial Planning Hawaii nor J.W. Cole provides client-specific tax or legal advice. All readers should consult with their tax and/or legal advisors for such guidance in advance of making investment or financial planning decisions with tax or legal implications.

All FPH clients are encouraged to review the following plain English disclosure documents:
JWC Advisors Form CRS (Customer Relationship Summary)
J.W. Cole Advisors SEC Form ADV Part 2A
J.W.Cole Advisors, Inc. SEC Form ADV Part 2B - John H. Robinson (3/1/2022)
Financial Planning DBA Fee-Only Planning Hawaii SEC Form ADV 2A & 2B (Feb 2022)

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