Which came first, the chicken or the egg? This age-old question can be adapted to many questions on origin, including financial planning. Financial planning’s “chicken and egg” question is: Is it about saving or spending less that brings forth financial…
For many years now, I have been promoting one of the greatest and most invaluable (but underappreciated) financial planning tools—the home equity credit line (HECL). An HECL is an agreed-upon balance that you can borrow from at your own choosing…
Financial Consulate aims to help lessen the worry and burden of wealth management and enhance financial wellness so our clients can pursue relationships and true fulfillment. Choose the professionals at Financial Consulate as your Certified Financial Planners™ (CFP®) to take…
At the time this article was written, the U.S. stock market had just lost 12 percent in the preceding 2.5 months. This type of market decline causes a serious amount of angst and worry among stock investors. Watching their account…
A broken sternum. It turns out that there is a significant amount of financial planning that results from breaking your sternum. One week after my wedding (and the day before I was to leave for my honeymoon), my mother called…
The bee seems like a simple insect, but without its ability to pollinate plants, we would most likely starve. Water seems simple enough, but it is the source of life to all living organisms. Air is nothing more than a…
The Internal Revenue Service (IRS) uses algorithms (i.e., computer program applications) to examine the data that it receives and then fires off notices to taxpayers to explain distributions from individual retirement accounts (IRAs) and other forms of retirement accounts. When…
My grandmother loved history, especially our family history. As a genealogist in the time before computers, she painstakingly researched our family tree, taking trips to the birthplaces of our ancestors, collecting history, and compiling it in her library. She was…
This article discusses a matter that we at the Financial Consulate recommend for nearly all of our clients. The subject matter will differ from what we have discussed in previous articles, in that as the author, I am going to…
When preparing for retirement, you may be faced with a decision that will launch you into the next chapter of your life: your company retirement plan may offer a lump sum or pension option upon retirement. Choosing the right option…