Financial Planning
Should You Plan for a Retirement in Richmond—or Move?
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…
5 Retirement Excuses You Can’t Afford to Make
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…
COVID-19 and Your Retirement Plan: How to Get Back on Track
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…
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…
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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.
