Are student loans an investment?
"There is no more profitable investment than investing in yourself. It is the best investment you can make; you can never go wrong with it. It is the true way to improve yourself to be the best version of you and lets you be able to best serve those around you.” - Roy T. Bennet
This investment can be in the form of time, sacrifice, or money. For those with student loan debt, it's likely all three.
Addressing student loan liability is no small feat. Considerations include, but aren’t limited to:
· Income-Driven Repayment Plan election
· Tax consequence of potential forgiveness
· Strategically managing your Adjusted Gross Income
· Advantages and disadvantages of refinancing
· Advantages and disadvantages of consolidation
· Tax filing status
Connect with me at lucidwealthplanning.com to learn more on how your investment can yield the greatest dividends by structuring the best repayment plan for your situation.
Starting a new job or switching careers can be both exhilarating and downright scary.
The impact on your financial position is of no exception.
Questions that need to be addressed relatively soon include:
☑ How does the change of income impact your ability to reach your goals?
☑ Are there significant changes in employer benefits?
☑ How does your health insurance coverage change?
☑ Will you have access to an HSA?
☑ What do you do with your old 401k or 403b?
☑ How do you best structure the investments in your new 401k or 403b?
☑ How does the change of income and benefits affect your tax planning?
A financial planner can assist in helping with all of these questions, as well as the questions that have yet to be asked.
Once the planner understands the goals and objectives you and your family have, they can provide guidance on making the right investment choices in your 401k or 403b, suggesting tax planning strategies, and ensure you’re getting the most bang for your buck with employee benefit elections.
Life happens and change is inevitable. Here are just a few of the changes my wife and I have faced since getting married 12 years ago.
💑 Get married
👶 Have children
🩺 Land a new job
📈 Get a promotion / raise
🏠 Sell an old home
🏡 Buy a new home
👶 Have another child
💰 Receive an inheritance
💵 Graduate from college with student loans
As the philosopher Heraclitus said, “The only constant in life is change.” Change happens all around us, all the time. Often, it’s subtle. Other times it’s sudden.
Most changes, whether they be personal taste, family structure or on the job, directly impact your financial wellness.
During these times it can help to get in touch with someone who isn't so close to the situation.
A financial planner can make it easier to see the situation objectively, so you can manage everything correctly. Next time change is brewing, contact a financial planner to help pave the path of intentionality.
Turns out financial planning might be a good move for everyone. The reasons you should hire a financial planner may surprise you.
THINKFINANCE.IO
10 Reasons You Should Hire a Financial Planner
What could you accomplish if you were more organized, educated, and objective in your financial matters?
The answer to that question is entirely based on your potential.
Here are 10 common reasons you may want to hire a financial planner:
✔ Your financial situation has changed
✔ You’re constantly getting a tax “surprise”
✔ You’re worried about retirement
✔ Your account holdings feel overly complex
✔ You have student loans
✔ You want to create a legacy
✔ You don’t have time to invest
✔ There are changes in your family
✔ You’re changing jobs
✔ You have questions
https://lucidwealthplanning.com/insights/what-return-should-you-expect-from-investing-in-a-financial-planner
LUCIDWEALTHPLANNING.COM
What Return Should You Expect from Investing in a Financial Planner?
Few would argue that 2020 has been a year of stress, worry, and uncertainty. It’s also been a year, however, that has brought to light the issues of social justice, social responsibility, and climate change. As a result, more and more investors are opting to align their portfolio with their social beliefs and ideals.
https://lucidwealthplanning.com/insights/if-2020-has-ignited-a-passion-for-social-responsibility-and-climate-change-esg-investing-may-be-right-for-you
LUCIDWEALTHPLANNING.COM
If 2020 has ignited a passion for social responsibility and climate change, ESG investing may be right for you.
