Business
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 ReliefNew Charitable Deduction for those taking the standard deduction on their taxesNew Charitable Deduction rules for those taking itemized deductions - now up to 100% of your AGI!Waiving of RMD's in 2020Next, 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 RefinancingIn-Service distributionsRevisit your tax return for withholdingReview Your Spending!Resources:Erik's WebsiteErik's YouTube PageEmail ErikCall Erik's Office at 504-218-5479