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Thank you for tuning in to another episode of the Mind of a Millionaire podcast. We present to you: 20 minutes of no coronavirus.
Well, 20 minutes without saying you-know-what (“COVID-19” counts too).
A large part of financial planning is focusing on the things that you can control. We, at Denver Wealth Management, cannot control the coronavirus. But there are a lot of things we can control and here they are:
The Denver Wealth Management Financial Planning Process [1:56]
How do we take advantage of this market opportunity? [3:40]
What should you own right now? [5:15]
Have some cash for potential opportunities [7:04]
Roth conversions [7:49]
Funding accounts [9:12]
Financial Planning To-do List [10:25]
- Set up your estate plan [10:42]
- Life, disability, dental, and vision insurance [11:54]
- Consider a college savings plan [12:25]
What would you do differently if you could go back to 2008? [13:20]
At this time, we cannot stress that we are here to help. We are monitoring the situation and we thank you for your continued trust in our team. Our goal is unchanged: to help you address your financial future.
If you have any questions, please don’t hesitate to call our office. We have been receiving a lot of communication recently, but we will get back to you as soon as we can.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Providence Capital Partners, Inc., a registered investment advisor. Providence Capital Partners, Inc. and Denver Wealth Management are separate entities from LPL Financial.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
No strategy assures success or protects against loss.
This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. Please keep in mind that insurance companies alone determine insurability and some people may be deemed uninsurable because of health reasons, occupation, and lifestyle choices.
All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
The Roth IRA offers tax deferral on any earnings in the accounts. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may results in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change.
Prior to investing in a 529 Plan, investors should consider whether the investor’s or designated beneficiary’s home state offers state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.