Plan Wisely with Erik Garcia

Planning Opportunities as a Result of COVID-19


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The news is exhausting - markets up and down, press conferences, statistics and more.   Today, Erik Garcia and Jag have a simple, easy-to-understand conversation around the financial opportunities that may exist for you during the pandemic.

After a quick explanation on AGI, we take a look at the tax rebate - those checks that are coming to us from the government soon (if you haven't received yours already). If you're still working, and still have a steady income, this could be a real opportunity to pay down debt or sock that cash away in savings.

We also look at other aspects of the CARES Act, including:

  • Student Loan Relief
  • New Charitable Deduction for those taking the standard deduction on their taxes
  • New Charitable Deduction rules for those taking itemized deductions - now up to 100% of your AGI!
  • Waiving of RMD's in 2020
  • Next, we examine the relaxing of restrictions on taking money out of retirement accounts - and why, as a financial advisor, this makes Erik really nervous.

    Other financial opportunities available right now for individuals:

    • Mortgage Refinancing
    • In-Service distributions
    • Revisit your tax return for withholding
    • Review Your Spending!
    • Resources:

      Erik's Website

      Erik's YouTube Page

      Email Erik

      Call Erik's Office at 504-218-5479

      ...more
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      Plan Wisely with Erik GarciaBy Erik Garcia

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