The Consulate Journal: Our Financial Blog

The Consulate Journal is our written blog, dedicated to educating our audience on a wide range of topics.  Sometimes we’ll be sharing our financial planning philosophies, and other times sharing our views of money and its place in our lives.  Most often, we’ll be sharing specific and actionable financial planning strategies that we use with our clients. 

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The Snowball Effect: Investing in a Roth IRA

September 11, 2018

As a financial advisor, I know of no reason (other than lack of funds) why one should not invest in a Roth IRA. If you have available cash in the bank, then it would be a good idea to transfer…

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Enhancing Your Auto Coverage

August 21, 2018

As fiduciaries, we often see the common mistake of auto policies with liability coverages that are too low. One such problem with low liability coverage pertains to uninsured/underinsured motorist (UIM) coverage, which is insurance that protects you if you are…

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Temporary Guardianship

August 13, 2018

There is a certain legal document that is often frequently overlooked. Most people are ignorant to its importance, and most lawyers do not discuss it. The document is called the temporary guardianship/custody form and associated copy of a minor’s insurance…

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Roth Conversions

July 30, 2018

There has been a lot of talk about Roth conversions so I wanted to help bring greater clarity to the issue. First, we will discuss the differences between a Traditional Individual Retirement Account (IRA) and a Roth IRA. Second, we will…

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The Confusion of Mortgage Interest Deductibility

June 26, 2018

When clients provide me with a mortgage interest statement, they assume that all of the mortgage interest will be tax-deductible. This assumption was somewhat true under the tax laws before 2018, but since 2018, it will be true only on…

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Charitable Giving in Light of the New Tax Law

May 29, 2018

There is a new tax law that has changed everything for a while. One of the biggest changes is the new expanded standard deduction and the elimination of many itemized deductions. Before we discuss these changes, a good understanding of…

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The Tax Withholding Paradox

May 1, 2018

It is true that most people will see their income tax rates lowered in 2018, but is it possible that despite having their rates lowered, some may actually owe more in income tax? The answer, unfortunately, is yes, given that…

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