Financial Planning

A New Way to Communicate

A New Way to Communicate

Entering 2023, we found there to be 2 types of financial information in video format:

1)     The long and boring videos that drone on and on in a level of detail that you don’t possibly need to know. They go into complexity that isn’t necessary for most people. You stop watching after 60 seconds.

2)     And the generic videos that last 3-4 minutes, but give you an explanation of a general concept. While it’s somewhat comprehensive, you don’t usually walk away with specific action points or ways that the concept relates to you.

We shake things up with our short videos. We bring value to the social media space and to your lives. It’s our goal to communicate financial planning strategies in a way that relates to you, your lifestyle, and your free time. Our videos are limited to 60 seconds so you can get a daily dose of financial planning, learn something new, and share information with your friends. You can find these short educational videos on YouTube, Facebook, Twitter, Instagram, and LinkedIn.

Thanksgiving Special - Financial Conversations with Family

Thanksgiving Special - Financial Conversations with Family

With Thanksgiving approaching, many people will see their families. When we love our family, we want what’s best for them. Sometimes this involves conversations about money. However, money can be a taboo topic in American society, just as health and politics can create “awkwardness” at the dinner table. We all know that feeling when someone brings up a political conversation at a family dinner (advocating for either left or right views) and their deep intent is just to spout their viewpoint with the goal of asserting their viewpoint’s supposed superiority. We internally cringe. We can get the same feeling when someone brings up health or criticizes some else’s weight. We lump this into either someone trying to elevate themselves above everyone else or denigrate others below them. The position of our heart is very important before bringing up “touchy” subjects. Money is no different.

Here are 6 tips for talking about money with family

How to Pay Down Student Loans

How to Pay Down Student Loans

Student debt is a real problem for many college graduates.  Over 70% of students will graduate with loans in 2015, according to the Wall Street Journal, and the average debt per borrower is an astounding $35,000.  What are some of the best ways to pay down that student debt as quickly as possible?

Roth VS. Traditional 401(k) - Calculators and Behavior

Roth VS. Traditional 401(k) - Calculators and Behavior

If you’ve been reading my blog you’d know that I think Roth savings are a great opportunity for many, many investors.  If you plan to max out your contributions this year you can effective save more by saving in a Roth, whether an IRA or 401(k).  Recently I’ve run across a common calculator available on the internet.  When a user puts in their details it is supposed to help you compare saving in a Roth 401(k) or traditional 401(k).  However, the default assumption is that when you decide how much to contribute you will reduce the amount you will be saving in a Roth by the amount of taxes you would have to pay.  That seems like something a rational investor would do, right?

Selecting Life Insurance? Choose Term.

In general, I think it is smart for young people to buy 20 or 30-year term insurance.  It takes care of the period where your family is most vulnerable.  You get coverage when you are young and healthy, because you don’t know what tomorrow will bring.  Then save and invest to build up assets to meet the needs you may have when the term policy runs out...

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Independent Financial Planning, LLC is a Virginia registered investment advisor.

Contact: 571-969-1458