Lucid Wealth Planning LLC

12/12/2022

Whether or not you prepare your taxes yourself, proper planning can help the process go more smoothly and may reduce the risk of costly errors.

Whether you meet with a tax professional or prepare your taxes yourself, proper planning can help the process go more smoothly and may reduce the risk of costly errors.

12/01/2022

Earned income isn't about what you make, it's about what you keep.

Check out our latest article, 2023 Tax planning considerations for employees, including 401k, HSA, FSA, and IRA contributions, changes to the Child Tax Credit, as well as the updated Social Security wage base and new tax brackets.

2023 Tax planning considerations for employees, including 401k, HSA, FSA, and IRA contributions, as well as the updated Social Security wage base and new tax brackets. Raleigh, NC.

06/29/2021

When deciding who should handle your finances, it's important to find the best financial planner for your unique situation. These 6 questions can help your search go smoother and provide you with more confidence in your choice. Raleigh, NC.

When deciding who should handle your finances, it's important to find the best financial planner for your unique situation. These 6 questions can help your search go smoother and provide you with more confidence in your choice. Raleigh, NC.

11/01/2020

Few would argue that 2020 has been a year of stress, worry, and uncertainty. It’s also been a year, however, that has brought to light the issues of social justice, social responsibility, and climate change. As a result, more and more investors are opting to align their portfolio with their social beliefs and ideals.

Few would argue that 2020 has been a year of stress, worry, and uncertainty. It’s also been a year, however, that has brought to light the issues of social justice, social responsibility, and climate change. As a result, more and more investors are opting to align their portfolio with their social...

06/12/2020

Are student loans an investment?

"There is no more profitable investment than investing in yourself. It is the best investment you can make; you can never go wrong with it. It is the true way to improve yourself to be the best version of you and lets you be able to best serve those around you.” - Roy T. Bennet

This investment can be in the form of time, sacrifice, or money. For those with student loan debt, it's likely all three.

Addressing student loan liability is no small feat. Considerations include, but aren’t limited to:

· Income-Driven Repayment Plan election
· Tax consequence of potential forgiveness
· Strategically managing your Adjusted Gross Income
· Advantages and disadvantages of refinancing
· Advantages and disadvantages of consolidation
· Tax filing status

Connect with me at lucidwealthplanning.com to learn more on how your investment can yield the greatest dividends by structuring the best repayment plan for your situation.

05/06/2020

Starting a new job or switching careers can be both exhilarating and downright scary.

The impact on your financial position is of no exception.

Questions that need to be addressed relatively soon include:

☑ How does the change of income impact your ability to reach your goals?

☑ Are there significant changes in employer benefits?

☑ How does your health insurance coverage change?

☑ Will you have access to an HSA?

☑ What do you do with your old 401k or 403b?

☑ How do you best structure the investments in your new 401k or 403b?

☑ How does the change of income and benefits affect your tax planning?

A financial planner can assist in helping with all of these questions, as well as the questions that have yet to be asked.

Once the planner understands the goals and objectives you and your family have, they can provide guidance on making the right investment choices in your 401k or 403b, suggesting tax planning strategies, and ensure you’re getting the most bang for your buck with employee benefit elections.

05/04/2020

Life happens and change is inevitable. Here are just a few of the changes my wife and I have faced since getting married 12 years ago.

💑 Get married
👶 Have children
🩺 Land a new job
📈 Get a promotion / raise
🏠 Sell an old home
🏡 Buy a new home
👶 Have another child
💰 Receive an inheritance
💵 Graduate from college with student loans

As the philosopher Heraclitus said, “The only constant in life is change.” Change happens all around us, all the time. Often, it’s subtle. Other times it’s sudden.

Most changes, whether they be personal taste, family structure or on the job, directly impact your financial wellness.

During these times it can help to get in touch with someone who isn't so close to the situation.

A financial planner can make it easier to see the situation objectively, so you can manage everything correctly. Next time change is brewing, contact a financial planner to help pave the path of intentionality.

05/02/2020

Turns out financial planning might be a good move for everyone. The reasons you should hire a financial planner may surprise you.

What return should you expect from investing in a financial planner? That answer will be as unique for you as your fingerprint. The return you should ...

05/01/2020

What could you accomplish if you were more organized, educated, and objective in your financial matters?

The answer to that question is entirely based on your potential.

Here are 10 common reasons you may want to hire a financial planner:

✔ Your financial situation has changed
✔ You’re constantly getting a tax “surprise”
✔ You’re worried about retirement
✔ Your account holdings feel overly complex
✔ You have student loans
✔ You want to create a legacy
✔ You don’t have time to invest
✔ There are changes in your family
✔ You’re changing jobs
✔ You have questions

The answer to the question this title poses is as unique for you as your fingerprint. The return you should expect from financial planning depends on what you’re looking to accomplish. Here are 10 common reasons you may want to hire a financial planner.

04/29/2020

Should you throw every last dollar towards debt? Stick with an IDR, or refinance? What loans should be paid first?

All this and more in our latest article dedicated to those navigating student loan debt from medical school.

Medical school can be a great investment, possibly one of the best investments you can make in yourself. This holds especially true in The Triangle, w...

04/14/2020

Student loan debt can affect every other financial decision you make. While refinancing may seem like a solution, the drawbacks shouldn't be overlooked. Here are 5 benefits and drawbacks of refinancing your federal loans.