FinPowered Female

Here’s the truth no one likes to recognize, life doesn’t care how organized your calendar is or when it might be a good time for you to drop a bomb on what you have going on.

One day, everything feels stable. Next, you’re navigating something you never saw coming. That. is. life.

Divorce. Burnout. Losing a loved one.
An aging parent who suddenly needs care.
Or even something good like receiving an inheritance, but having no idea what to do with it.

Financial planning isn’t necessarily about predicting every twist and turn that might enter your path. But it is about being prepared for it, so when life shifts, you don’t lose your financial footing...and your mind.

It’s about flexibility, clarity, and peace of mind.

Because when you're in control of your money and have a good understanding and plan for the “what-ifs,” you won't respond in fear and react to what's happening around you, you'll already understand what needs to be done.

And that’s an absolute gamechanger.

✨Comment "Gameplan" and I’ll send you my free financial planning guide that gives you step by step instruction around what you need to create a plan for YOUR money.

Follow for all things money and building wealth with confidence.

I know you might be thinking WHAT?! Why does everyone tell me to contribute to an IRA then. Let’s talk about it...

If you’ve got an employer provided retirement plan AND your income exceeds the IRS thresholds, contributing extra money to a Traditional IRA may not be the right move. Here’s why...

You May Not Get a Tax Break – If you have access to or you’re already putting money in a 401K or similar plan and your income exceeds the IRS threshold, you’re not getting the tax benefit from a Traditional IRA like you think you are.

Potential Tax Issues Later – Many people aren’t reporting Traditional IRA contributions properly, which means they could face paying taxes on it twice (today and in future) when they take the money out. Sounds terrible!!!

Roth IRA Wins – If you qualify to contribute to a Roth IRA, why contribute to a Traditional IRA to be taxed later when you can throw that money into a Roth IRA and let it grow tax-free...?!

Brokerage Account Flexibility & Potential Tax Savings – If you’re not getting the tax benefit today from the Traditional IRA, a taxable brokerage account might give you more flexibility and better tax treatment (depending on how you invest) today and further down the road due to capital gains taxes vs being taxed at ordinary income tax rates in retirement.

Are you contributing to a Traditional IRA?

If so, I want you to understand if you’re getting a tax benefit today. Are you reporting the contributions correctly on your tax return? Are you eligible for a Roth instead?

Hope this helps my friends -

Victoria

For more tips on how to build wealth type MILLION and I’ll send over 25 dynamic ways to build meaningful wealth for your future!

Feeling the sting when you peek at your portfolio lately?
You’re not alone — and no, you’re not doing anything wrong.

Markets are shaky at best, headlines are full of doom (because fear gets clicks), and your brain might be screaming “Do something!!”

But let me offer some perspective — because this isn’t the first time I’ve had these convos with clients (or felt it myself).

Every generation has had a moment that felt like the end of something.

Every time, we thought, “This is different.”

And in some ways, it was.

But every single time, markets came back. Often stronger than before.

Let’s rewind real quick:

📉 1929 – Great Depression
Market down 89%. Took years, but we recovered.

📉 1974 – Oil Crisis
48% drop. Followed by one of the strongest bull markets in history.

📉 1987 – Black Monday
23% gone in a day (insert regulations to make sure this never happens again). Market fully recovered in less than 2 years.

📉 2008 – Financial Crisis
Down 49%. Brutal. But those who stayed invested? Saw massive growth over the next decade and were rewarded big time.

📉 2020 – COVID Crash
Markets dropped 34% almost overnight. Back to all-time highs by year-end.

And now? We’re in another hard chapter. A lot of uncertainty. Inflation, rates, trade wars, etc.

BUT — here’s what I want you to notice:

👉 From 2000–2010, the S&P 500 basically went nowhere. A whole decade of flat returns. Ugly.

On the flip side?

From 1980 to 2024, the S&P 500 averaged 10.6% annually.

✨ So yes — the S&P 500 is still a strong core holding.
But it’s not the whole story. It doesn’t represent the entire global economy.

Diversification matters.

Because what underperforms one decade? Might crush it the next.

Bottom Line: Don’t make permanent decisions based on temporary fear.

Fear is the greatest deciding factor of a losing portfolio.

It’s that time of year again - tax time!

The only people excited about this are those getting refunds 🤣

But here’s the thing, this tax deadline comes around every single year at the exact same time.

If you have a CPA and will be leaning on them to file your tax return, please don’t wait until the final hour to send them your stuff.

This cheat sheet should give you a good breakdown of what to look for and what to expect to come your way in the weeks to come!

I’ll follow up with another post soon about other nuanced changes in your life that are worth sharing with your CPA for tax purposes!

Follow for all things money and building wealth with confidence!