The news is exhausting – markets up and down, press conferences, statistics and more.   Today, Erik Garcia and Jag have a simple, easy-to-understand conversation around the financial opportunities that may exist for you during the pandemic.

After a quick explanation on AGI, we take a look at the tax rebate – those checks that are coming to us from the government soon (if you haven’t received yours already). If you’re still working, and still have a steady income, this could be a real opportunity to pay down debt or sock that cash away in savings.

We also look at other aspects of the CARES Act, including:

  • Student Loan Relief
  • New Charitable Deduction for those taking the standard deduction on their taxes
  • New Charitable Deduction rules for those taking itemized deductions – now up to 100% of your AGI!
  • Waiving of RMD’s in 2020

Next, we examine the relaxing of restrictions on taking money out of retirement accounts – and why, as a financial advisor, this makes Erik really nervous.

Other financial opportunities available right now for individuals:

  • Mortgage Refinancing
  • In-Service distributions
  • Revisit your tax return for withholding
  • Review Your Spending!


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About Erik Garcia

Hi there, I'm Erik. How you manage your money and other resources impacts practically every aspect of your life. I help individuals and families invest plan for a more secure and predictable financial future. Thanks for taking time on my site!

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