August 15, 2017

The cheapest term life insurance policy may not be the best for you

August 15, 2017

There are many websites with term life insurance quote engines which may help you find the cheapest term policy. However, the cheapest is not always the best.

Jiyao (Jackson) Xu

August 8, 2017

Something you may not know about the credit scores

Jiyao (Jackson) Xu

August 8, 2017

It is widely understood the importance of one’s credit scores in the U.S. Articles and free resources are available online like this explaining the ins and outs of the credit scores. In this blog, I am trying to cover some common misconceptions and something you may not be aware based on my personal experience.

Jiyao (Jackson) Xu

August 1, 2017

Should you lease or buy a new car?

Jiyao (Jackson) Xu

August 1, 2017

Don’t get me wrong on this. I firmly believe that, in many cases, buying a used car and keep it for years is still the most economical way of owning a car. However, for those of you who prefer a new car, I hope this blog could help you decide whether to lease or buy.

Jiyao (Jackson) Xu

July 25, 2017

Financial Planning Checklist for Newlyweds

Jiyao (Jackson) Xu

July 25, 2017

Financial Planning Checklist for Newlyweds

This checklist will give you a good start of upgrading your individual financial plan to a joint one.

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July 23, 2019

Key Questions for the Long-term Investor

July 23, 2019

Dimensional Fund Advisors, one of our strategic partners, recently created a great piece of content for advisers like us to educate our clients. It lists 10 questions regular investors in the U.S. should ask themselves before investing, especially in the public market. The key takeaway fully aligns with our investment philosophy at X and Y Advisors, Inc. Focusing on what you can control including your financial goals, the cost of investing and your investing behavior could lead to a better investment experience and potentially a better result. Instead of only sharing with my clients, I would like to post this well-written article here and hope it would benefit all of you. Enjoy reading!

July 23, 2019

June 5, 2018

How To Create An Investment Plan?

June 5, 2018

Unlike a comprehensive financial plan which covers so many topics and can easily take an experienced professional many hours to create, an investment plan for a regular investor is relatively straightforward. This week I will give you some general guidance on how to create a simple investment plan for yourself. For people having someone managing their investments, it could also help you evaluate your current plan and see whether you are getting the knowledge and service you are paying for.

June 5, 2018

May 8, 2018

Tax Preparation VS. Tax Planning

May 8, 2018

Many people expect to save the most amounts of taxes by hiring a professional to prepare their tax return. However, you may be surprised to learn that you could probably get some additional tax savings after your professional tax preparer’s work. Recently, a fellow fee-only financial planner shared a story with us. He reviewed five tax returns prepared by an experienced CPA, and he was able to find extra tax saving opportunities from four out of the five tax returns. Other advisors and I also have the same experience. This week, I am going to explain the difference between tax preparation and tax planning, and how to get some real comprehensive tax planning advice.

May 8, 2018

May 1, 2018

PFIC: Why You Probably Do Not Want To Invest Funds Outside The U.S.

May 1, 2018

There are so many great companies and investment opportunities outside the U.S. If you read the article I shared on my blog before, you would know that I am a big fan of global investment. However, when it comes down to selecting investment companies and vehicles, you probably do not want to choose the ones organized outside the U.S. Without considering any potential country-specific currency risk, inflation risk, political risk, or liquidity risk, the most significant hurdle that the U.S. investors are facing is the punitive federal income tax treatment imposed by the IRS.

For those who currently have investment accounts in other countries, you could check out my previous blog here to figure out whether you need to report it and how to report it to the government.

This week, I will help you get some basic understandings of what investments are subject to the punitive income tax treatment, how bad the tax treatment is, and what you could do to make it less bad.

May 1, 2018

February 27, 2018

4 Simple Steps to Help You Understand What a "Financial Adviser/Planner" Really Is

February 27, 2018

Last year, I wrote a blog post to help people figure out whether you need to get some professional help on your finances and if so who you need. A couple of readers asked me afterward: What's the easiest way to identify the real "Financial Advisors/Planners" without contacting them directly? This week I will show you four simple steps to help you understand what a so-called "Financial Adviser/Planner" really is.

February 27, 2018

January 23, 2018

Is It A Good Idea To Use Life Insurance As An Investment? - Part 2

January 23, 2018

Today's post is the second of two parts. I will go through the pros and cons of the Indexed Universal Life Insurance (IUL), share with you my general opinion on using life insurance as an investment, and give you some questions to ask yourself to help you decide whether you should invest through an insurance product. If you haven't read the Part 1 yet, you could easily find it here.

January 23, 2018

January 16, 2018

Is It A Good Idea To use life insurance as an investment? - Part 1

January 16, 2018

Last year in 2017, apart from the Bitcoin question, another most frequently asked questions was "should you use life insurance as an investment". Even though investing through a life insurance policy doesn't have a good reputation among fee-only financial planners in general, I believe there is neither a bad investment vehicle by default nor a good investment product or methodology for everyone. It is to understand the pros and cons of all your options and then make an informed decision based on your specific situation. Hope this blog could help when you are approached by an insurance agent next time. Today's post is the first of two parts and covers the Participating Whole Life Insurance and the Current Assumption Universal Life Insurance.

January 16, 2018

October 10, 2017

How to reduce U.S. taxes on your foreign income?

October 10, 2017

Generally speaking, U.S. citizens and green card holders are taxed on worldwide income and subject to certain foreign assets reporting requirements as well. For your financial assets held outside the United States, there is not a lot of things you could do to reduce the burden of reporting besides transferring it over. However, for your foreign income, the following steps may help you save some taxes associated with it.

October 10, 2017