On this episode of the Planned Solutions Incorporated Podcast, After 18 months of volatility the Federal Reserve Senior Loan Officer Survey appears to be signaling a normalization in the market for loans. Lenders tightened lending standards for both consumer and business loans in 2020 but are now loosening those standards to encourage more borrowers to apply. Meanwhile, demand for mortgage loans increased in 2020 but has since declined while the demand for consumer loans (auto, credit card, and personal loans) has recovered this year.

Also, Many people are leaving corporate life for the freedom and flexibility that may come from being self-employed. However, working as an independent contractor rather than as an employee may come with some additional taxes and expenses. It may also reduce access to a number of common employee benefits which should be taken into consideration.

And, When someone passes after setting up a trust to handle their financial affairs there are a series of actions that are required by law to protect the interests of all parties involved. Therefore, the successor trustee as well as the beneficiaries or other interested parties should be aware of the legal requirements in order to meet their fiduciary duty and protect their rights. This is especially important when there are disagreements about how the trust should be administered.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Planned Solutions will soon be sending out our tax engagement letters and organizers in early January. We will also be posting the organizers in SmartVault a few weeks before mailing the organizers.

At Planned Solutions, we have been engaged in training about cyber security.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

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www.PlannedSolutions.com

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