Financial planning in public begins

Good morning!

Regardless of your feelings about President Biden's student loan forgiveness program, it's now a reality.

If you have children or grandchildren with college loan balances, you might want to share this student loan forgiveness calculator with them. It might prove helpful in figuring out whether or not they're eligible. [Thanks to my friend and fellow advisor Scott for sharing this calculator with me.]

And you might not have known that there has been a loan forgiveness program in place for some time now (since 2007), though it's only available to certain students.

It's called Public Service Loan Forgiveness (PSLF) program and if you meet the criteria and have made 10 years worth of monthly payments, you can potentially get any remaining loan balance forgiven. Here are the details.

Now, back to our regularly scheduled programming...

If you've been following along the last couple of weeks, I shared the concept of "financial planning in public" and introduced you to our fictional client, Lillian Lifestyle.

Well, here's the first video where I introduce what we're doing and where I begin to build Lillian's plan:

Click here to watch "Financial Planning in Public #1" on YouTube. It's about 8 minutes long. (you can also click the image below to watch)

And as I've shared the last couple of weeks, if you have any questions, suggestions, critiques, or any other feedback about how I can make this series valuable for you, please hit reply and let me know.

Thanks, and stay tuned for more...

Links & things

Did you know that if you need to assist someone (think aging parent or friend) with their Social Security, a power of attorney won't work. That's right, the Social Security administration won't accept a power of attorney. Instead, you'll need to establish a "representative payee." Thankfully it's pretty straightforward to setup. Learn more here:

• Advance designation of representative payee

Despite what feels like a never ending avalanche of bad news (inflation, recession, etc.), don't discount the ingenuity of entrepreneurs. In fact, I encourage you to read this article from Weston Wellington of Dimensional Fund Advisors to get a booster shot of optimism in the midst of all this doom and gloom:

• What drives investment returns? Start with ingenuity

Thank you, as always, for reading.

And if you have any questions or an idea for a future newsletter, blog post, or YouTube video, I'd love your input.

Just hit reply - I read (and appreciate) every email you send.

Until next Wednesday,

Russ

Retirement Planning for Women