The Financial Pyramid Series: Cash Reserves Part 3

Building personal cash reserves will improve your financial security and prepare you for anything that comes up in the future. Whether you experience a medical emergency or want to make sure that you have something to pass on to your heirs, building cash reserves isn't difficult as long as you take the right approach. By utilizing the financial pyramid technique, you can more effectively reach your financial goals and increase your cash reserves.

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Saving Money by Creating a Budget

When the economy is struggling and inflation is high, the rising costs of goods can make it difficult to rein in expenses. Saving money during times of inflation might seem impossible when you need to pay for your mortgage, health insurance, food, and a car payment. These expenses add up quickly. It's possible, however, to save money during inflation by creating a budget. Here are some money saving tips to keep in mind while you make a budget.

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The Beginner's Guide to Cryptocurrency Investing

Whether you are new to investing or are someone who's spent years building an investment portfolio, one alternative type of investment is cryptocurrency. You may have heard of different types of cryptocurrencies, which include everything from Bitcoin to Ethereum. Unlike real estate and other stable investment opportunities, investing in cryptocurrencies requires you to take on a significant amount of risk for the potential of high returns. Before you put your money in cryptocurrency, you should have a better understanding of what this currency is and how it compares to traditional investments.

Understanding Crypto Investments

Cryptocurrency is a type of digital payment system that doesn't use traditional banks to verify the transactions that people make. This peer-to-peer system allows any individual to send or receive payments. Instead of using physical money that's carried around and placed into a bank, crypto payments are digital entries found on an online database.

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The Benefits and Downsides of a Roth IRA

The Roth IRA is a retirement savings plan that lets you save money for retirement while also paying tax on the income. You can contribute to a Roth IRA in any amount of your choosing, but there are limits on how much you can contribute each year and those limits change as your income changes.

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What if you won the Lotto?!

Everyone has big dreams of hitting the Lottery, especially now when the jackpot is so huge. What they do with those winning varies slightly from person to person but you can often hear the typical “I’d buy a house” or “A personal jet” huge purchases or the more practical “pay off all my debt”. Although, we all know the winning is taxable, less discussed is the payout options available to winners.


Lump Sum Payment

The lotto winner receives the entire value of the prize at once, taxes are due on the total amount when you file their taxes for that year. You can invest the money right away to capitalize on potential returns and you have access to liquid funds. This option is best suited for prudent individuals who can manage their money wisely.

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Student Loans Part 2

Student Loan Forgiveness Plan

  • On August 24, 2022, President Biden announced $10,000 of debt relief per federal student loan borrower for those who did not attend college on Pell Grants. He announced $20,000 for those who did attend college on Pell Grants.
  • The loan forgiveness is for individuals making under $125,000 a year and families making under $250,000 a year. Loans must have been taken out by June 30, 2022.
  • If you’re a current borrower and a dependent student, you will be eligible for relief based on your parents’ income rather than your own.
  • Borrowers for whom the Department of Education does not have accurate income information (the majority of borrowers) will need to apply for loan forgiveness. The application should be available by early October. It will take four to six weeks for the forgiveness to appear in a borrower's loan profile, so the government recommends borrowers apply before November 15 to ensure the relief is applied by the time payments resume in January 2023. Sign up at studentaid.gov to be notified when the application opens.
  • Borrowers will be able to apply for student loan forgiveness through December 31, 2023.
  • President Biden also extended the pause on student loan repayments that was set to expire on August 31. Payments will begin again in January 2023.
  • Something getting less attention than it should: If you made student loan payments during the pandemic pause, you can now receive a refund. Simply contact your loan servicer to begin the refund process.
  • Certain states will be taxing your forgiven loan, be sure to let your accountant know that you had a forgiven loan

Proposed Changes to Income-Driven Repayment Plans

The Department of Education has proposed changes to income-driven repayment plans:

Budgeting During Inflation

Bloomberg economists have estimated that the average household in the U.S. will be spending upwards of $433 more per month in 2022 than they did last year. This is a minimum of $5,200 per year if you make no changes to your style of living. If your budget has little room for additional expenses, you will need to make some difficult decisions about your budget.

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Recession or Blip?

You’re likely reading about an “impending recession,” which sounds kind of scary, especially for those of us who remember the Great Recession of 2008-9. The question right now is: are we already in a recession, or just experiencing another bump in the roller coaster?

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Pop Culture Investing Trends

Over the last year, and really since the start of the pandemic lockdowns we saw a pattern emerge. Cultural Trends were spreading like wildfire through society. With the help of Facebook/Meta, Instagram and Twitter hierarchical diffusion seemed to be on steroids. Hierarchical Diffusion is the spread of an idea from persons or nodes of “authority” or “power” to other persons and places. We entered the era of “influencers”, and they were talking about everything under the sun but especially investments.

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The CalSavers Program

If you are a small business owner in the State of California and do not carry a retirement benefit plan for your employees, the deadline for the CalSavers Program is quickly approaching. If you have 5 or more employees and do not currently offer a workplace retirement plan you must register by June 30, 2022.

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Address

5345 N El Dorado Street
Suite 5
Stockton, CA 95207

Phone Number

Hours

8:00am - 4:00pm
Monday - Thursday

8:00am - 1:00pm
Friday

Benefits Management for Businesses

Attentive Investments provides benefit plan and investing management for businesses of almost any size.

Financial Planning and Investments for Individuals

Attentive Investments provides a broad spectrum of financial services for individual investors.

Address

5345 N El Dorado Street
Suite 5
Stockton, CA 95207

Phone Number

Hours

8:00am - 4:00pm
Monday - Thursday

8:00am - 1:00pm
Friday


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