In an ongoing series exclusive to ThinkAdvisor, Joe Elsasser, CFP® and Ron Piccinini, PhD provide readers with two distinct perspectives on the same topic. Check out the most recent installment, "How New Tax Law Affects Investment Portfolios."

In this edition, we asked both Joe and Ron what kind of impact tax reform has on investment portfolios.

Joe's response included:

"Rather than thinking only of the “investment” implications of change, we should be thinking on two levels—first, how does the change impact the assets that comprise the portfolio and second, how does the change impact how people should use their portfolios?"


And Ron's response included:

"This is a very tricky question! Taxes directly impact portfolios in two major ways. The first is through the direct taxation of capital gains, which reduces the power of compounding. The second is through the rate of appreciation of the stocks and bonds held in the portfolio."


See the full response from both Joe and Ron in ThinkAdvisor.