One of the common financial dilemmas in financial planning is whether the best strategy is for an individual to focus their free cash flow on paying down debt or investing for their future. There is no one-size-fits-all answer to this question, but rather a large number of factors that should be considered in order to make an informed decision. Therefore, it is recommended that Individuals discuss these questions with a knowledgeable professional in order to weigh all the pros and cons of each option.

The US jobs report shows that the US economy added 147,000 non-farm jobs in June. This total was better than expected and in line with the average over the prior 12 months. The same industries that have led job creation over the prior 12 months continued to fuel job growth in June, showing persistent trends in the labor market. In addition, the unemployment rate declined from 4.3% in May to 4.1% in June.

The two most often overlooked parts of an estate plan are the financial and health care power of attorneys (POAs). However, these are arguably the most important documents included in an estate plan, as they will have an impact on an individual while they are still alive, rather than dealing with their affairs after death, like a will and trust. For this reason, it is important to pay special attention to the terms of the POAs and update them regularly if things change.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board - Voice deepfakes happen when a hacker takes a recording of your voice, clones it, and then manipulates it. Unfortunately, hackers now have more access than ever before to our voices through videos, FaceTime chats, Zoom meetings, etc., that can be saved on any of our devices.

This type of manipulation can happen to anyone, including financial professionals and their clients. At Planned Solutions, Inc., we take cybersecurity and your privacy seriously. Over the years, we have enhanced our processes and procedures to make sure your information is safeguarded.

As part of our policies, we do not accept trade or distribution requests via email or text message. In addition, we will always call you to obtain a verbal confirmation of the request to make sure it is actually you making the request. In some instances, we may even request additional information or verification if the request seems out of the ordinary scope of our relationship. Keep in mind that the risks are constantly evolving, and we are working hard to stay current and adjust accordingly.

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

Chase Armer's book- Financial Planning Insights is now available at: ⁠⁠⁠⁠⁠https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠

⁠Intro 00:00

Pay Down Debt or Invest for the Future? 01:17

US Job Market Remains Strong 12:20

Power of Attorney 20:48

Bulletin Board 24:53

Planned Solutions, Inc.