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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Coordinating Your Professionals

Financial Planning is often a term used colloquially to mean managing one’s money, but it isn’t exclusive to saving and implementing market strategies. It is also safeguarding those assets for the future through analyzing special financial needs (death, disability, job loss, monetary windfall), taxation implications, medical/health planning, and liability concerns. Most professionals offer a couple specialized services but not all.

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Understanding Inflation

Inflation causes prices of goods and services to increase. Consumers can purchase fewer goods per dollar, input prices go up and revenues and profits go down. If economic growth accelerates very rapidly, demand grows even faster, and producers raise prices continually. In all, this action, slows down the economy so that supply & demand can recoup and become stable again. So, we understand on a base level what this does to our pocketbook but what does it mean for our savings and investments.

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Socially Responsible Investing

Socially Responsible Investing (SRI) is the investment in companies that promote ethical and socially conscious ideals such as environmental sustainability, justice, corporate ethics and/or advocate against discrimination. This can be accomplished by either specifically including companies that are making positive impacts and/or can exclude others that are making negative or questionable impact.

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The Financial Pyramid Series: Insurance Part 2

Protecting your ‘Human Capital’

Human Capital refers to the monetary value of a worker’s experience, skills and working years available. Employer/state sponsored disability is inadequate or, at best, a limited solution to risk of loss of the ability to work. With that in mind it is important to acknowledge that every household faces the potential of unexpected disability or death and the loss of income associated with that. In order to mitigate that risk, individuals should consider certain additional insurance products to protect against loss.

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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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