Financial Success Blog: An Attorney's Guide to Financial Freedom
Creating a plan for student loans repayment.
July 12, 2023
Two weeks ago, the Supreme Court struck down the Biden/Harris Student Loan Debt Relief program, delivering a blow to borrowers who hoped to have up to $20,000 of their federal student loans forgiven. In conjunction with the ruling, the student loan repayment pause established during the COVID-19 Pandemic is set to end at the beginning of September 2023 with payments restarting in October 2023. Now that we know what’s ahead, how can you as a borrower better prepare for when the payments restart?
Read More
Creating healthy savings habits through budgeting
June 6, 2023
I can already feel the eye rolls through the screen of whatever device you are reading this on. I get it, for most of us, the word budgeting is cringeworthy.
Just stick with me for a few minutes. My goal with this blog post is not to show you how to pinch pennies. Rather, I want to illustrate that through budgeting, you can remove the stress of not knowing where your money is going and create better savings habits.
Read More
How to mitigate the risks of a long-term disability event
May 3, 2023
Did you know that one in four of today’s 20-year-olds can expect to be out of work because of a disabling condition before they reach normal retirement age?* I was shocked when I read that statistic from the Social Security Administration.
May is Disability Insurance Awareness Month (I know there’s an awareness month for everything nowadays!), so for this month’s blog post, I figured I’d dive into what disability is, the risks of becoming disabled, and how to plan for it.
Read More
How to manage your cash in the bank
April 5, 2023
This may sound like a simple task, but in the wake of bank failures like Silicon Valley Bank and Signature Bank, cash management should not be an afterthought. In this blog post, I discuss why one should keep cash in the bank (as opposed to investing it) and best practices on which types of accounts to use.
Read More
Why your credit score matters and how to improve it
March 6, 2023
Whether you're opening a new credit card, buying a new couch on credit, or applying for a new mortgage, the lender from whom you are borrowing is pulling your credit score to see if you are a good borrower and how likely you are to pay the debt back on time (i.e., your creditworthiness). The interest rate that you will be paying on the loan is largely influenced by your credit score, which will impact the total amount that you have to pay back. Keeping track of your credit score is critical, even if you have a good income.
Read More
How to fund a Roth IRA with the backdoor strategy
February 7, 2023
I’m sure at some point in your life, you’ve heard of the benefits of compounding growth. Roth IRAs can enhance compounding growth further because of their tax advantages. However, many individuals, especially attorneys, cannot contribute directly to a Roth IRA because their income is too high. Click on the link below to learn how you can invest in a Roth IRA even if you make above the income limits.
Read More
Seven-step process to buying a home
January 4, 2023
The last couple of years have been wild for the real estate market. From home prices skyrocketing during 2021 and the first half of 2022, to now a bust due to increasing interest rates and an overall economic slowdown, it has been a tough environment for home buyers, especially first-time buyers. Following this seven-step process will help you focus on what is in your control, so you are ready when the opportunity presents itself.
Read More
Ideas for your year-end bonus
December 12, 2022
As we approach year-end, some of you might be eagerly awaiting comp memos to hit your inbox. The question is, when that bonus gets deposited into your bank account, what are you going to do with it?
Read More
|
