Make 2020 The Decade of Financial Wisdom

Dec 19, 2019 | Uncategorized

It’s easy to find negativity around the world today, especially online. But we believe there is much to be optimistic about. With the right support system in your life, you can navigate pretty much anything. That’s what we are here for. 

I’m Jake Rivas a financial advisor in San Antonio, TX. I focus on helping clients navigate their financial lives. As a young person creating my own financial freedom, I am ecstatic about sharing that wisdom with you.

Today I am sharing 6 short audio episodes from my podcast “Jake of All Trades, ” where Every week I give my professional perspective on financial topics that impact your everyday life. 

The short episodes are called Fact Versus Fiction, where I take a common financial misconception and explain what is wrong with that way of thinking. These are under five minutes.

The FVF episodes are 5 minutes or less and packed with the type of advice I give to clients. The episode “Financial Windfalls” is slightly longer, but I explore different ways to utilize a windfall payment like an inheritance (or a bonus check.) 

Last up is a longer episode (around 20 minutes) with my Co-Host Kirk Barbera, where we discuss a news article from the Wall Street Journal about the 2017 tax reforms.

I’m so honored to be able to share these with my friend Shann M. Chaudhry, Esq!

Jake Rivas, CFP® is a financial advisor and CERTIFIED FINANCIAL PLANNER™ at i*financial located at 1901 NW Military Hwy Ste. 102, San Antonio, TX 78216. He offers securities and advisory services as an Investment Adviser Representative of Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. He can be reached at 210-342-4346 or by email at Tax Planning Services provided by Jake Rivas at i•file Tax Planning and Preparation. i•financial and Commonwealth Financial Network® are separate and unrelated entities.

Fact or Fiction: I always pay the minimum payment on my Credit Card and that’s fine.

​​On this episode Jake helps you understand how credit card companies work and how to have the right mentality with credit card payments.

Fact or fiction? You should always prioritize paying your student loans and mortgage off early.

​This is a common question Jake receives in his financial planning practice. In this episode he briefly explains both sides of the issues and discusses his views on the common advice given to young people today of “debt free debt free debt free!”

Is that always the best advice?

Powerball has offered opportunities to win  $1.6 billion. Let’s say you received a chunk of that money. We all know you will have taxes and such to pay. But after that, what you are left with would be called a “financial windfall.”

​Winning the powerball is unlikely. But, what is quite possible for you is to inherit money from the previous generation. The Baby Boomer generation is the wealthiest generation in the history of the world.

Some companies have a special feature attached to your retirement plan. The feature is called a profit sharing feature. 

In this episode Jake breaks down exactly what this feature is, how it works and what to do once you have it.

Not every company has this feature.

However, you should discover if you have this option available to you. It is one you may want to take advantage of.

MYTH: The Money in Your FSA Carries over every Year

In this episode, your host discusses Flexible Spending Accounts (FSAs). This is an arrangement through your employers that allows you to pay for many medical expenses with tax free dollars. Jake explains the how FSAs work and many of the common misconceptions surrounding them.

Jake answers:

  • What are FSAs?
  • How to use them?
  • Why use them?

Many people who were not expecting it were hit hard by the new tax reforms. Jake and Kirk discussed how most companies did not help their employees prepare with a proper withholding and also some strategies to ensure your company withholds the proper amount from your paycheck for 2020.





You may also like
May Is National Elder Law Month—Do You Have Your Plans in Place?

May Is National Elder Law Month—Do You Have Your Plans in Place?

May is National Elder Law Month! While the observance isn’t typically met with a great deal of fanfare (alas, there are no greeting cards for this occasion at Target), it’s a good reminder for all of us to stop and think about what kind of care we’d like in our later...

Why Every Business Owner Should Have an Estate Plan

Why Every Business Owner Should Have an Estate Plan

We plan for everything in business— new product launches, the perfect marketing strategy, the impact of upcoming trends on your business goals, and how many coffees we’ll need to power through afternoon meetings.  But one area often flies under the radar: estate...

Join the conversation


Submit a Comment