Money Moment

This topic for this week is financial planning mistakes. There are many tax planning opportunities within a financial plan. Not having a plan for taxes is an often overlooked mistake.

This topic for this week is financial planning mistakes. In this discussion, I talk about the money you are missing out on if you aren't getting your company matching contribution in your retirement account.

This topic for this week is financial planning mistakes. The first mistake on the list is simple, but important. Nobody has ever said they are glad they started planning finances too late. In this discussion, I talk about the impact of starting too late with planning and investing.

As promised, your end of the week bonus episode. We often get caught up in cutting expenses or making money in the stock market. While these may be important, our most powerful thing we have is our ability to learn. Your human capital gives you unlimited earning potential. Money then becomes a tool to live the life you envision!

Federal student loan payments are suspended until September 30, 2020 under the CARES Act. This is good news for those that need the cash flow in the short term. It can also benefit those that are financially secure right now by making additional payments while not accruing interest.

As a result of the recent market volatility and government aid, there are many financial planning opportunities out there right now. This is a great time to review your liabilities and look for financial planning opportunities on loans. Interest rates are near all time lows which is generally good news for borrowers. Consolidating or refinancing into lower interest rates can result in less interest paid over the life of the loan.

As a result of the recent market volatility and government aid, there are many financial planning opportunities. If you contribute to a workplace retirement plan, such as a 401(k), you may be able to take advantage of stock market drawdowns by accelerating your contributions.

As a result of the recent market volatility and government aid, there are many financial planning opportunities. Because of the impact COVID-19 has had on the economy, this may allow some households to fund or convert traditional retirement money to a Roth IRA. Also, with the recent market drawdown, this could be an opportune time to perform Roth conversions.

As a result of the recent market volatility and government aid, there are many financial planning opportunities. The extended tax deadline is a tremendous advantage for those who haven't filed yet or owe tax. You can also still reduce your 2019 tax liability and stash money away into a Roth IRA.

Are you ready to invest? Do you think it is a good time to invest? Or just want to take advantage of a market downturn? For the next 6 episodes I will be discussing 6 things to consider before putting money into investments. You may be ready to invest in the current environment, but investing is only a piece to an overall financial plan. Be sure you are on solid financial footing before investing. In this final episode of this series, make sure you are still following your investment plan before taking on additional risk.