When was the last time you updated your legal documents? Many worry about setting up a will, trust, power of attorney, or medical directives due to the impact of COVID. Unfortunately, some of these folks found themselves in a tough situation without having properly executed estate planning documents. This could have resulted in legal tie…
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The year 2020 had the record for the highest volume in mortgages due primarily to record low interest rates. Refinancing is making up roughly 70% of all mortgage transactions and it is a very busy purchase market as well. Sometimes refinances are necessary and other times it’s just a matter of convenience with interest rates…
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When it comes to minimizing taxes, it could be advantageous to work with a fiduciary advisor along with an accountant or CPA when creating a tax plan that’s right for you. A fiduciary advisor will review your tax and financial documents, evaluate your current financial situation, and design a plan that is tax wise with…
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The best way to maximize your tax savings is to get started well before Tax Day comes. Whether you’re in a high tax bracket or a lower one, you can benefit from getting a head start on collecting documents, assessing your financial situation, and making a plan for tax season. Let’s take a look at…
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You’ve heard of 401(k)s and IRAs as retirement savings vehicles—and you may already have a solid investment strategy using one or both of these account types in your retirement plan. But have you considered including a health savings account (HSA) in your retirement strategy? Let’s take a look at the advantages of an HSA and…
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One of the most difficult decisions about retirement is deciding where to spend it. Whether you live in Richmond already and are deciding whether to stay, or you’re considering moving to Richmond for your retirement plan—the fact remains: Anyone who values living in a booming, diverse place with the amenities of a big city and…
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Are you making excuses to avoid thinking about retirement? Sometimes people say they’re not ready to retire because they’re afraid they can’t afford to retire. Even if you really don’t want to retire anytime soon, don’t let these five retirement excuses stand in the way of making your retirement plan. 1. “I’ll Be Bored in…
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Has the coronavirus pandemic affected your retirement plan? Like many Americans, you may be worried about your ability to retire on time (or at all) because of the health and economic impacts of COVID-19. If you have experienced adverse financial effects, you can still take action to improve your future finances. These actions include: Earmarking…
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Virginia native has provided financial planning at Midlothian firm for over 5 years. MIDLOTHIAN, Virginia—Financial Dynamics & Associates is proud to announce that Advisor and Retirement Planner Ricky Lafon has earned the CERTIFIED FINANCIAL PLANNER™ (CFP®) certification. The mark is one of the highest-regarded credentials in the financial services industry, given its rigorous requirements for…
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With the stock market experiencing volatility due to COVID-19, and with economic uncertainty high, you may be concerned about the health of your retirement plan assets. Yet rather than looking at the situation abstractly, it’s important to scrutinize the different areas that make up your retirement plan assets to get a sense of where you…
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