Moving Checklist

Whether you’re moving across the country or to a neighboring town, just the thought of moving is enough to make anyone feel overwhelmed. 

When you’re ready to move, don’t forget that a plan is key.

As someone who has recently moved, I have put together this helpful checklist for you so that your experience can go as smoothly and quickly as possible.

Just click here, make a copy and add your own items, or just print it out or download as is!

 

Financial Journey LLC is a registered investment advisor offering advisory services in the states of Alabama, Virginia and in other jurisdictions where exempted. Information provided is for educational purposes only and not, in any way, to be considered investment or tax advice.

 

 

 

$10K Federal Student Loan Forgiveness Announced

This is going to be short post because we do not have the details yet. President Biden announced on August 24th that he is authorizing $10K of student loan forgiveness.

Here’s what we know:

To qualify for this forgiveness:

  • Income must be less than $125Kfor Singles or $250K for Head of Household or Married Filing Joint
    • We aren’t sure how they will define income—wages or adjusted gross income based on which tax year?
  • Must be FEDERAL loans—if you refinanced into a private loan, unfortunately this doesn’t count
  • There may be an additional $10K of forgiveness if you qualified for the Pell Grant

What we don’t know(the details!):

  • What year will this income threshold be based on?
  • The mechanics of getting this done—form, apply online, timeframe, etc.?
  • Will this forgiveness be taxable? Most loans that are forgiven are considered taxable. Currently the Public Service Loan Forgiveness program is not taxable.
  • If you have multiple loans, can you choose the one with the highest interest rate?

As soon as the details are worked out and more information becomes available, we will be sure to post another update so stay tuned.

 

Financial Journey LLC is a registered investment advisor offering advisory services in the states of Alabama, Virginia and in other jurisdictions where exempted. Information provided is for educational purposes only and not, in any way, to be considered investment or tax advice.

5 Questions You Should Ask When Hiring a Financial Advisor

Finding the right Financial Advisor for the job is so important! You need someone who is trustworthy, competent, and affordable. 

Questions To Ask Yourself

Before you interview a financial advisor, you need to ask YOURSELF a few questions: 

  • What are you looking for in a financial advisor?
  • What services do you need?
  • What are you willing to pay for them?
  • How often do you want communication (frequent in-person, occasional call, or email)?

Knowing your goals and communication style will help you to quickly determine which financial advisor is the right one for you.

Questions To Ask a Financial Advisor

  1. Are You a Fiduciary?

You want your financial advisor to say yes! Fiduciaries are financial advisors who are required to:

  • Put the client’s interests first
  • Disclose important information, including their fees
  • Reveal any conflicts of interest
  1. How Do You Get Paid?

Financial advisors can make their money in several different ways:

  • Hourly
  • A fee based on a specific service
  • A percentage of the managed assets
  • A sales commission on investment products

To avoid any conflicts of interest, look for an advisor who is “fee-only.” 

  1. What Services Do You Provide?

Different advisors may only support you in certain financial areas, such as:

  • financial plans
  • managing assets
  • investment advice
  • retirement
  • insurance
  • tax planning

Before you hire a financial advisor, know what services are offered and if there are any extra costs for additional services. 

  1. What’s Your Philosophy on Investing?

A good financial advisor should fit your needs. You want someone whose investment philosophy matches yours and uses strategies that you understand. This will help you feel more secure through the ups and downs of the market. 

  1. Who Are Your Typical Clients?

You want to work with a financial advisor who has experience working with people in your situation. 

Conclusion

A good financial advisor should expect questions like these. They understand how important the relationship is between the advisor and the client and want a good fit for both parties which is why you should interview more than one. 

Your financial advisor is an important person in your life. Take your time to consider all the candidates and choose the one who’s best for you.

If you are looking for a trusted partner to help you navigate financial decisions, we are here to help. Schedule a meeting with us today to see how we can help you with your own financial journey. 

 

Financial Journey LLC is a registered investment advisor offering advisory services in the state of Virginia and in other jurisdictions where exempted. Information provided is for educational purposes only and not, in any way, to be considered investment or tax advice.

Financial Planning-is it Easy?

Over the years I have gained lots of experience in financial planning with seeing so many different scenarios-not one person’s situation is the same. Also, the CFP(R) curriculum consists of an education piece that really lays out a great framework in the Financial Planning process. When you start with a good framework that has pieces that can be replicated and add real life situations to this framework, it becomes second nature.

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