DiversiFi Capital LLC - Financial Planning & Investment Education

Credit cards can have their positives and negatives. Make sure to watch last Friday's MMBs here on YouTube where we talked about credit cards and provided some very helpful tips and advice!

529 Plan Funds - I should use all 529 funding right away for college   

1. Have your child make a plan on how to fund their college expenses before coming to the bank of Mom & Dad.

2. Be aware of the EFC formula and which family members count for income and assets.

3. If you have 529 funding from grandparents, consider using it in the back half of your child’s undergraduate educational years.

Pre-Tax vs Roth 401(k) - Which is Better?

As long as I max out my 401(k), I am good to go for retirement!

Myth: As a business owner, spending money means I get to lower my taxes right? 

- Only a portion of the total expense is returned and not dollar for dollar.  

- Spend based upon what makes sense to run your business and do not spend more purely to get the deduction.  

- It is not as complex as people think to start a side business as a sole proprietor, does not always need to be an LLC.

Money Myth Busters: Myth: Interest rates are SO LOW, so I should refinance, RIGHT? 

- Lower interest and lower payments don’t always equal savings if you’re resetting the payoff clock.  

- Points aren’t always a bad thing if they buy you a big enough rate discount.  

- If you’re refinancing just prior to moving, watch out for lender enforced owner-occupancy requirements.

The MMB’s are going to debunk some common 401k myths and answer common questions.

Renting vs. Buy - I'm wasting money by paying someone else's mortgage. See the key points in our post. Make sure you know your sunk costs as you evaluate Renting vs. Buying.

Money Mythbusters - Bonus Income is Taxed at a Higher Rate?  

On a weekly basis, we dispel and talk through money myths. JOIN US every Friday at 4 PM on our FB page as we go LIVE!  Bonus Income, is it really taxed at a higher rate?  We dispel myths around bonus income and answer your questions.

We will dispell the myths about Restricted Stock Units (RSU) income and how it is taxed, as well as share tips on how to optimize it for your financial needs.