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Financial Resources

Our Fifth Principle | Think Long Term

When it comes to important financial decisions, it always feels like we should do something, but as Charlie Munger said: “The big money is not in the buying and selling … but in the waiting.” By designing repeatable processes, controlling our emotions, and putting the wind of time to the back of our sails, we maximize our potential to reach and surpass our goals.

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IRS Shuts Down State Tax Workaround

The IRS has released proposed regulations that would shut down some suggested workarounds for the new $10,000 limit on the deductibility of state and local taxes (SALT). The new guidance would close the door on a strategy offered by some states to circumvent the deduction limit by attempting to turn the taxes paid into charitable contributions not subject to the same cap.

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What Rising Rates Could Mean for Your Money

After years of keeping the benchmark federal funds rate at historic lows, the Federal Reserve has been raising it gradually. Near-zero rates were an emergency measure, and gradual increases reflect greater confidence in the U.S. economy. However, rising rates can affect you as a consumer and investor.

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Changing Market: Municipal Bonds After Tax Reform

January is typically a strong month for the municipal bond market, but 2018 began with the worst January performance since 1981, driven by rising interest rates and uncertainty over changes in the Tax Cuts and Jobs Act. The tax law changed the playing field for these investments, which could affect supply and demand.

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Our Fourth Principle | Maintaining Adequate Liquidity

It is imperative that we maintain adequate liquidity to provide for our needs during good times and bad. There is a certain amount of freedom granted by having set aside ready cash so that during times of emergency we are not left to count on the kindness of friends or strangers.

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Our Third Principle | Defining Risk

Spring is slowly approaching. As the harshness of winter recedes, volatility in both the markets and weather are picking up. While I can hardly speak to fluctuations in the weather, the fluctuation in the market is almost certainly a function of rising interest rates, though the madness of crowds is difficult to quantify.

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