Archives For Financial Planning

 

The Covid19 pandemic brought about quite a bit of change for everyone. Changes in how we interact with others, think about our healthcare and more. In addition, to all of that change it also brought about opportunities for you to win big within your retirement plans.

 

The United States Federal Government introduced The Cares Act in response to the economic fallout from Covid19. A majority of the headlines regarding The Cares Act centered around the money for Small Businesses and Citizens in this time of need. There were also some smaller, less talked about nuggets within the bill.

 

In the video above, David Bradford and I discuss one planning tool that everyone should take advantage of right now! Or at least before years end of 2020. We discuss how this bill allows each person the ability to withdraw up to $100,000 from a Qualified Retirement Plan. Qualified Retirement Plans include 401(k)’s, IRA, SEP, SIMPLE Plans, Keogh Plans, 457 Plans, 403(b) plans and others.

 

We discuss how this opportunity allows you to take advantage of our current low tax environment by spreading the tax out over three years beginning in 2021; thus avoiding the higher tax rate most will see during retirement.

 

Take a look at the video and let us know if you have questions about your personal situation. This is an opportunity of a lifetime that you should absolutely take advantage of right now!

 

Protect Your Money!

 

Contact me at todd.burkhalter@driveplanning.com or text: RETIRE to 470-243-1717 for more information.

FIRE

May 5, 2020 — Leave a comment
The much maligned millennials should get credit for creating a philosophy which is actually more sound than that of our parents or grandparents. F.I.R.E. was born from their lack of desire to conform to some of the old school methods that have frankly been beaten into Americans as the norm or as the responsible way to live.
Financially Independent Retire Early (FIRE) is based around the idea of living modestly early in life so that you don’t have to spend a majority of your life working. Pretty good right? I’ll say mostly.

 

The concept of not working our entire lives is one that myself and most anyone can get behind. It is the first part, the live frugally or modestly, that the average American says, “Whoa!!! Wait a minute!”

 

Let’s face it, as Americans we are trained to Super Size it, upgrade it or simply buy two of them whenever possible.     – Todd Burkhalter 

It’s that mentality which fuels our consumption and excessive lifestyles. That same lifestyle that makes it tough for most people to save any money. Therefore, most people never seek to learn about personal finances because they believe that it will only interfere with their enjoyment and lifestyle in which they REALLY enjoy today. 
Investment companies and traditional financial planning are largely to blame for this lack of understanding that there is actually a better way. I say they are to blame, not really. They are only doing what benefits themselves so blame is a strong word, lets choose self-serving. 
Traditional Financial Planning teaches us to stash away money into funds or accounts which we can’t touch for decades. So that, when that day finally comes (maybe we’re 65 or so years old) then we can begin to enjoy our hard earned savings; assuming it is still there and that it is a large pile to last. Assuming tax rates and inflation haven’t diminished the accounts value, assuming that the stock market hasn’t declined to a point where we have to wait even longer yet.
As you may have guessed, we teach a very different methodology. At Drive Planning we want to adhere to all of the facets which make up FIRE. Absolutely let’s be financially independent and certainly the idea of retiring early sounds great. Let’s even lose the aforementioned live modestly or frugally. We will replace that part with, live more freely and be less dependent upon a “real job” or W-2 if you will.
There is a way to create the lifestyle that you desire yet not be beholden to a 9 to 5 job or bound to ever increasing quotas and conference calls. In my book, Bullet Proof Your Finances I spell out over only 41 pages a step by step guide for designing the financial life that you desire, One that allows you to have the confidence to live freely.
For many, this is a life or lifestyle which can be achieved right now and for others it could take a couple of years. It depends on how quickly you get started and your ability to take action; not necessarily how much money you currently have in the bank! The book walks you through exactly what to do; but if you desire to have a guide by all means we are here for you.
I have done this personally and coached hundreds to being able to do the same.

 

It is time to light the FIRE within you!

The book, Bullet Proof Your Finances is a great starting point. I have reduced it to $1.99 for this offer. Less than a coffee:) If you know it is time for you to change, just say yes. It is cheaper here than on Amazon!

 

I Want The Guide Book!

 

Have you tried programs before without success? Maybe it was the program, maybe it was you. It is possible that you know yourself well enough to say, ” I won’t read the book” or “I won’t follow through”. It is possible that you need someone to help you. That is OK! You may need a personal guide. If you would like for me and my team to walk you through the program; step by step, we will gladly do that for you. In fact we will actually do much of the hard work for you whenever possible. You just have to say “yes, I’d like the help and click the link below.

 

Please Coach Me!

Either decision is a good one. A bad decision would be to Exit This Page and do nothing! Take the chance to learn a new way. New Freedom.
I encourage you to stay tuned to our social media. You can definitely gain knowledge through all of the free content that myself and team members put on-line. However, it is not nearly as valuable as an organized very methodical personalized approach.
Thanks for sticking with me this far. I look forward to meeting you!

 

If you have questions about our Coaching Program or want to discuss a payment plan, simply TEXT: Coaching to 470-243-1717

 

 

In our process at Drive Planning we always begin with identifying your Hopes and Dreams which leads to setting your financial GPS; To accurately plot your course we must find the answer to a few vital questions, four to be exact. 

Allow me to summarize the four questions.

 

The Vital Questions of Your Financial Life

 

Question 1: 

What Rate of Return should your money and investment bring, for you to retire in the Current standard of living and be Certain your money will outlive you? 

 

Question 2:

How much do you have to Save every year, for you to Retire in your current standard of living and be certain that your money will outlive you?

 

Question 3:

With your current method of working and saving, what Period of Time will it take for you to retire on your current standard of living and be certain that your money will outlive you?

 

Question 4:

If you are staying on this pace right now with what you are doing, how much will you have to Reduce your standard of living in order to retire and with the certainty that your money will last for a lifetime?

 

These questions are absolutely fundamental and will ultimately become the foundation to your strategic financial decision making process. Sticking your head in the sand and avoiding these questions will not make the often times hard truth to disappear.

Facing these questions will help you gain control and lead yourself to a successful retirement. 

Next Steps…….

Contact me directly via text at 470-243-1717 with inquiries or to get started. In addition, I’d like to invite you to “Like” The Life You Can Afford to Live on Facebook or follow along on twitter or Instagram.