Ms. Bass is a single mother with two children, earning between $80,000 and $85,000 each year. She wasn’t falling behind in her debt payments, but she felt she was living paycheck to paycheck. She was contributing to a 401K at work, but she would take out loans on her 401K savings to cover any shortfalls she incurred. She contacted Isakov Planning Group, asking, “How can I save money for the future?”
Americans are straining under the weight of their credit card debt, auto payments, housing loans, and student borrowing. Total household debt in the US had reached $14.5 trillion by the end of 2020. Home mortgages were by far the greatest contributor ($10.3 trillion).
When speaking with our clients, we often mention the term “financial peace.” What is it? Like the name implies, it means achieving a sense of security that your financial needs are being met today and will be met tomorrow. That is pretty much the same definition for everyone.
When thinking about investing over the long term, most people will say that financial independence is a key goal. However, simply earning money and paying bills is not the best way to achieve that goal.
This year has been a strange one for all of us! In light of the alarming events that we’ve experienced in 2020, this is also the anniversary of my 10th year at Isakov Planning Group! This year in particular, it is easy to overlook the true basis of business relationships—our connection to you. We are grateful for our close association with you! Thank you for your trust in Isakov Planning Group and for your past referrals.