Financial Planning
Financial Dynamics’ Ricky Lafon Earns CFP® Credential
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…
Your Biggest Retirement Plan Assets
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…
High-Income Earners & Retirement Planning: How to Save More
As the coronavirus crisis has shown, the unexpected can happen at any time, threatening both health and finances. While that doesn’t mean you should panic, high-income earners may want to reassess their retirement planning so that they have more of a cushion and flexibility regardless of what happens later in life. In particular, consider saving…
Retirement Plan Contribution Limits for 2020
While the coronavirus pandemic and associated economic and stock market declines may cause you to consider putting retirement plan contributions on hold, it’s important to stay focused on your long-term retirement planning goals. If you have the means, you should generally continue to invest in retirement savings accounts, perhaps even to the 2020 retirement plan…
Financial Planning Tips for Down Markets: Refinance Your Mortgage or Other Debt
Although interest rates were low before COVID-19 sent our economy into a downturn, the Federal Reserve has slashed them to near-zero in response to the crisis. You may find that such low interest rates are an opportunity to save money by refinancing your mortgage or other debt. Refinancing can be a good option to reduce…
Financial Tips for Down Markets: Make Low- or No-Interest Loans
The economic decline from the COVID-19 pandemic may have a silver lining for lending: a rapid drop in interest rates. This can make it an ideal time to make low- or no-interest loans to your loved ones while minimizing tax impacts for yourself. Tax Implications for Low- or No-Cost Interest Loans It is natural for…
Financial Tips for Down Markets: Harvest Tax Losses
While a stock market downturn like the one we are experiencing now can leave investors anxious, you can help make the most of this challenging situation through a variety of financial planning strategies, such as tax loss harvesting. By “harvesting” the tax losses within a taxable investment account like your brokerage account, you can increase…
Financial Tips for Down Markets: Convert to a Roth IRA
As the impact of the COVID-19 pandemic sends shudders of uncertainty into our markets and economy, you may be feeling a lack of control over your investments. But while your retirement accounts have likely suffered recent losses, stock market corrections can provide financial planning opportunities that help enhance wealth when markets recover. One such opportunity…
What the CARES Act Means for Individuals
As we continue to delve into the CARES act and legislation here at FDAA, our advisors wanted to pass along the following summary around the potential benefits and impact this legislation may have on your financial affairs: As the health care community tries to get a handle on the coronavirus pandemic, the U.S. government has…
How a Local Financial Planner Can Help You Achieve Your Goals
As you grow your savings and start to think about retirement planning and personal financial goals, you might wonder whether a local financial planner can help. In many cases, financial planning includes components beyond investment management—such as tax and estate planning, which can be complex and time-consuming to manage on your own. Working with a…
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Speak with one of our financial planners today to learn more about how our comprehensive financial planning and investment management services can help you achieve your retirement and lifestyle goals.
