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What to Do With a Sudden Windfall | Financial Planning

What to Do With a Sudden Windfall | Financial Planning

Eric Maldonado, CFP®, MBA
Charitable Giving, Financial Planning, Legacy Planning, Sudden Money

Whether it's from an inheritance, legal settlement, business sale, or unexpected bonus, a sudden windfall can happen in different ways. Sudden wealth can also leave you feeling unprepared to deal with it emotionally and practically. We've all heard the stories of the lottery winner who ends up worse off than before. Or the superstar professional athlete who goes broke a couple of years after retiring. There's, of course, a smattering of reasons for this, some preventable, some not. However, we can all agree that a little strategy can go a long way.

In this guide, we'll discuss thoughtfully approaching a sudden financial windfall, from the initial mindset to long-term financial planning strategies.

Secure Act 2.0 -- Updates You Can Use

Secure Act 2.0 -- Updates You Can Use

Eric Maldonado, CFP®, MBA
Financial Planning, Retirement Planning

Happy New Year!

After months of debate, Congress finally passed some significant changes to retirement laws at the end of 2022. (1)

The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 changes are numerous, complex, and will roll out over several years.

So let's focus for now on some changes for 2023: (2)

1. The age at which required minimum distributions (RMDs) begin increased to 73 in 2023.

Join Our Live Webinar! Faith-Based Principles for Managing Your Money

Join Our Live Webinar! Faith-Based Principles for Managing Your Money

Eric Maldonado, CFP®, MBA
Webinar, Financial Planning, Faith-Based

Zoom Registration Link: https://us06web.zoom.us/webinar/register/9216681928992/WN_h4qLHbzQQ-mvKocq2n2CYg

When: December 13 @ 12:00 pm - 1:00 pm PST

On December 13, Eric Maldonado, CFP®, MBA, CKA® will speak at a live webinar titled, “Faith-Based Principles for Managing Your Money.” Some financial advice assumes making money is your biggest priority. But many of us are looking to do good with the things we have rather than placing them as our ultimate goal. This webinar will address principled investing, charitable giving, responsible financial planning, and more. People of faith will appreciate the insights in this event.

Exploring Different Types of Retirement Accounts

Exploring Different Types of Retirement Accounts

Eric Maldonado, CFP®, MBA
Retirement Planning, Investing, Financial Planning

A good retirement savings strategy often includes several different types of accounts. By using the tax benefits of one type or another, it can be possible to save more than you could in a single account. This webinar addresses traditional and Roth accounts, IRAs and 401(k)s, and brokerage accounts. Eric Maldonaldo, a Certified Financial Planning practitioner, is presenting. Whether you’re close to retirement or still decades away, this informative webinar can help you optimize your retirement savings.

AP News Interview Feature: How to balance competing savings goals

AP News Interview Feature: How to balance competing savings goals

Eric Maldonado, CFP®, MBA
Cash Flow Planning, Financial Planning, Goal Setting

We were recently featured in an AP News article entitled “How to balance competing savings goals”

See the article here: https://apnews.com/article/a12838a96a99b4d2b3273c246bc61e2a

Here’s one excerpt from the article:

“Now more than ever, people are understanding the importance of a rainy day fund,” says Eric Maldonado, certified financial planner and owner of Aquila Wealth Advisors in San Luis Obispo, California. “It’s good fundamentals to have cash in case stuff starts costing more.”