Economy | 100% Virtual Certified Financial Planner in Ramona and San Diego | Fiduciary Advice | Retirement Planning and Investment Management

Keeping a long-term focus in face of short-term challenges

July 27, 2021/in Behavioral Finance, Economy /by Jamie M. Lima, MBA, CFP®

As we start to emerge from the COVID-19 pandemic, and life shifts back toward “normal” for many, I have a lot of folks telling me they’re struggling with thinking about long-term planning.

And that makes sense, since we’ve seen how quickly our long-term plans and goals can be turned upside down, and we’ve spent the past year or so dealing with a lot of short-term changes.

So how do we bring the long run into focus without getting derailed by the short run?

One way is by thinking of the long term as a series of short-term challenges, rather than one uninterrupted straight line.

Here are three simple strategies that can help you train your mind:

Inflation is here. 3 Things You Need to Know About It

June 10, 2021/in Economy, Financial Planning, Retirement Planning /by Jamie M. Lima, MBA, CFP®

Small Business Tax Opportunity

April 16, 2021/in Economy, Tax Management, Taxes /by Jamie M. Lima, MBA, CFP®

I wanted to reach out to give you a heads up about the most recent stimulus. In it, there’s a small business tax credit, called the Employee Retention Tax Credit, or ERTC, that you will probably find important. If you qualified for PPP before, you’ll definitely want to know about this.

Welp, it’s official. Here’s what you need to know about the tax filing deadline extension

March 22, 2021/in Economy, Tax Management, Taxes /by Jamie M. Lima, MBA, CFP®

One year into the pandemic, Americans are continuing to strike a balance between staying safe and handling their day-to-day responsibilities. One major challenge we all face this time of year (pandemic or no pandemic) is filing our taxes on time. On March 17, less than one month until Tax Day, the IRS announced an extension for the 2021 tax filing season. Here’s what you need to know about filing your 2020 taxes.

The Third Round of Stimulus Checks Are Coming: Here’s The Rundown

March 15, 2021/in Economy /by Jamie M. Lima, MBA, CFP®

One year into the pandemic, individuals everywhere are experiencing emotional, physical and economical implications. In an effort to ease the pandemic’s detrimental effects, the federal government has recently passed a third stimulus package called the American Rescue Plan Act.

Eligible individuals and families will receive stimulus checks up to $1,400 per person. As a reminder, here’s what you need to know about your third stimulus check.

Does Impeachment Impact the Markets? A Quick Historical Look At Past Proceedings

January 18, 2021/in Economy, Election, Stock Market /by Jamie M. Lima, MBA, CFP®

On Jan. 13, President Donald Trump was impeached for a second time by the House of Representatives – a first for our nation. Trump was impeached for his part in inciting violence against the United States government.¹ This move comes days before Trump is set to leave office, but it still begs the question – does an impeachment of the President of the United States have a direct impact on the stock market? To answer this question, we’ll take a look at past impeachments – starting with Trump’s first impeachment in 2019.

Inauguration Day Is Coming: What Financial Challenges Could High Earners Face During the Biden Administration?

January 4, 2021/in Economy, Election, Financial Planning, Tax Management, Taxes /by Jamie M. Lima, MBA, CFP®

With one of the most contentious elections in history behind us, President-elect Joseph R. Biden, Jr. is set to take office on January 20. In anticipation of a new administration, high earners especially are left wondering – how will the Biden presidency affect me financially? Until Biden takes office and begins enacting changes, we won’t know for sure what to expect. But based on his official campaign platform, past interviews and projections, we can better prepare ourselves for the potential changes to come.

Now that Inauguration Day is on the horizon, what challenges could this bring to high earners during a Biden administration?

The Housing Market Could Be Heading For a Decline in 2021. Is Now the Time to Buy, or Should You Keep Renting?

December 26, 2020/in Budgeting, Economy, Financial Planning /by Jamie M. Lima, MBA, CFP®

There comes a point in nearly everyone’s life when they begin to wonder if they should continue to rent or make the step of purchasing a home – but throw a global pandemic, low mortgage rates and a crazy housing market into the mix, and it makes the choice a whole lot more complicated. Furthermore, since January 2020, home sales have been steadily increasing.¹

The first thing to remember: don’t let the circumstances make this an emotional decision. Buying a home is a decision that should be made based on your finances, as well as your preparedness for owning a home. Before you make any real estate purchase, you should strongly evaluate your options to figure out if you are really ready to buy.

2020 Is (Finally!) Coming to a Close. Here Are 7 Financial Moves to Make 2021 Less Stressful

December 11, 2020/in Behavioral Finance, Budgeting, Economy /by Jamie M. Lima, MBA, CFP®

2020 has been quite the year, to say the least. With only one month left, everyone is ready to put the year behind us and try to start fresh. From the coronavirus pandemic to economic shut downs, many have felt the financial strain. If you are looking to start 2021 off on a better financial note, these seven moves will (hopefully) help make your year less stressful.

Most CARES Act Benefits Are Ending on Dec. 31st. Are You Prepared?

November 30, 2020/in Economy, Financial Planning, Tax Management, Taxes /by Jamie M. Lima, MBA, CFP®

The CARES Act was passed on March 27, 2020 amidst the onset of COVID-19 in America. The package included over $2 trillion in economic relief for businesses, workers, families and governments.¹

Now, the year is almost over – and some benefits included in the CARES Act are expiring. Many Americans have relied on these benefits to make ends meet throughout the course of the pandemic, and there’s widespread uncertainty about benefits coming in the future.