Gigi Lavergne - TRI Planning

04/29/2024

04/28/2024

What determines a leader is at heart a philosophical – not a physiological – question. This may explain why a number of chief executives majored in philosophy.

03/09/2021

Bring your financial needs to the forefront and keep them there through the process of financial planning.

06/05/2020

Laid off and near retirement–what now?

Many who have unexpectedly lost a job become paralyzed by fear and don’t know where to turn. It’s a blow to one’s self-esteem, and we understand that unexpected obstacles have been put in your path. Job losses have skyrocketed. Some are laid off and others are furloughed, hoping to return to their jobs when the lockdown ends.

I’ve had several clients take advantage of the CARES Act during this pandemic. What should you do if you are laid off? You will need a plan.

The ideas I’m providing give a broad-based outline. Your situation is unique, and we are here to assist as you hammer out a strategy. Perhaps your job is secure or you have retired, but please feel free to share our ideas with any friends or family members who have lost their job.

1. Assess your financial situation. What are your liquid assets outside retirement accounts? How long can these sustain your lifestyle? What are any outside sources of income you may have, whether yours or your spouse’s? Will you receive a severance and paid health insurance? All will play into your plan.

2. File for unemployment. Your company has paid into your state unemployment program and the federal government is supplementing with an additional $600 per through July 31 via Federal Pandemic Unemployment Compensation (FPUC) week (https://www.investopedia.com/federal-pandemic-unemployment-compensation-fpuc-definition-4802039) (https://govstatus.egov.com/ui-benefits/CARES ). You are out of work through no fault of your own? File! Receiving unemployment will provide you with additional income and cushion cash reserves.

3. Come up with a realistic budget. Add your savings, unemployment, and any additional income, which will provide you with your total cash available over the next six months. Then, divide your monthly expenses into total cash. You may realize that you have greater resources than you had expected.

4. Be sure to include health insurance in your calculations. Can you apply for Medicare?

5. Consider your options for Social Security. Does it make sense to apply for Social Security? Ask about our in-house calculation software.

Federal Pandemic Unemployment Compensation (FPUC) is a temporary program that provides an extra $600 a week on top of your regular unemployment insurance benefit.

05/12/2020

We are all concerned about the Coronavirus (aka COVID-19) and how it will affect us, our loved ones, and our country. Unfortunately, unscrupulous cyber criminals are already attempting to leverage the situation for profit.

The following are some reported scams in use:

Illegal robocalls targeting: Coronavirus treatments Work-at-home schemes targeting the recently unemployed

Action: If you receive a call, don't respond and don't press any numbers on your phone. Phony Websites offering: Vaccinations Treatments Home Test Kits Action: There are currently no effective Vaccinations, Treatments, or Home Test Kits. Don't fall for these fictitious items. Additional info: https://www.fda.gov/medical-devices/emergency-situations-medical-devices/faqs-diagnostic-testingsars-cov-2

Dishonest On-line Retailers Given the current shortage of medical supplies and disinfectants such as hand sanitizer, some on-line retailers may represent items as in-stock when they are not.

Action: Use only reputable on-line retailers.

Checks from the Government Scammers may say they can get "emergency" money from the Government for you. They can't.

Action: Don't believe anyone or any website offering assistance in getting emergency money from the Government.

Emails from the CDC or WHO Be suspicious of any email that appears to be from the Centers for Disease Control and Prevention (CDC) or the World Health Organization (WHO). They probably aren’t and are simply attempting to lure you to a malicious website or to place malware on your computer. Data from Check Point indicates Coronavirus-related websites are 50% more likely to be malicious than other websites. Since the beginning of January, more than 16,000 Coronavirus-related domains were registered. Action: Be suspicious of ALL Coronavirus related emails, especially those appearing to be sent from large health organizations. Use official websites to learn more about the Coronavirus.

Resources: CDC Website https://www.cdc.gov/coronavirus/2019-ncov/index.html WHO Website https://www.who.int/emergencies/diseases/novel-coronavirus-2019

04/20/2020

First quarter of 2020 took an unexpected turn, as the rise and spread of COVID-19 gripped markets and brought certain areas of the global economy to a halt. The Federal Reserve and the U.S. government responded swiftly with unprecedented measures. Just know that we are hear for you. We are working day and night to be your trusted financial health care provider as you make your comeback out of this crises.
Remember, you are braver than you believe, stronger than you seem, and smarter than you think.

04/16/2020

Coronavirus-related distributions:
A 10% penalty tax generally applies to distributions from an employer retirement plan or individual retirement account (IRA) before age 59½ unless an exception applies. Due to the coronavirus pandemic, the penalty tax will not apply to up to $100,000 of coronavirus-related distributions to an individual during 2020. Additionally, income resulting from a coronavirus-related distribution is spread over a three-year period for tax purposes unless an individual elects otherwise. Coronavirus-related distributions can also be paid back to an eligible retirement plan within three years of the day after the distribution was received.

04/13/2020

Are you nearing retirement? Do you need an income source that you cannot outlive? Call 972-546-0620 for more information.

04/08/2020

Socially distance yourself from COVID-19 scams
Whenever there is a natural disaster, there are always people who prey on those who want to help. Today, the disaster is a pandemic. Many are fearful, many are scared. It makes us especially vulnerable.

The FTC has warned Americans to beware of the potential scams that are proliferating. Here are some precautions to take that will keep you safer:

· Hang up on robocalls, and don’t press any numbers. Scammers are using illegal robocalls to pitch fraudulent COVID-19 treatments and work-at-home schemes. Press a number to be removed from a list and you’ll likely get more calls.

· Ignore online offers for vaccinations and unproven home test kits.

· Ignore texts and emails about cash from the government. Stimulus checks will be forthcoming, but, per the FTC, anyone who tells you they can get you the money now is a scammer.

· Be leery of emails that claim to be from Centers for Disease Control and Prevention (CDC) or experts that claim they have information about the virus. For the most up-to-date information about coronavirus, visit the websites of the CDC or the World Health Organization (WHO).

· On the same note, malware and phishing scams are on the uptick. Legitimate companies will never ask you to verify passwords or usernames via an email. Fraudsters will.

· Do you see misspelled words or grammatical mistakes? That’s a sure sign that the official-looking email originated from a suspicious source.

Here’s a warning from the Securities and Exchange Commission (SEC) that was updated on March 30:

Fraudsters often use the latest news developments to lure investors into scams. We have become aware of a number of Internet promotions claiming that the products or services of publicly traded companies can prevent, detect or cure coronavirus, and that the stock of these companies will dramatically increase in value as a result.

Please be aware of the substantial potential for fraud at this time.

Please be careful. We are living in uncertain times. While I am confident this will pass, uncertainty breeds fear, and there are criminals all over the world ready to cash in on your fear.

04/08/2020

Tax Refund: Spend or Save
About 72% of taxpayers received a refund in 2018 and 2019. Here's how consumers spent the tax refunds they received in 2018 and what they planned to do with their 2019 refunds.

Sources: Internal Revenue Service, 2019; National Retail Federation, 2019