Rumesh - SC Financial Group
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Financial Advisor, with a wealth of knowledge and a passion for helping people. Rumesh B. Senanayak Member FINRA/SIPC.
Securities and advisory services offered through LPL Financial, a registered investment advisor. www.finra.org, www.sipc.org
Third party posts found on this profile do not reflect the views of LPL Financial and have not been reviewed by LPL Financial as to accuracy or completeness. The financial professionals associated with LPL Financial may discuss and/or transact business only with residents
🌟 **Thought for Today** 🌟
"Someone's sitting in the shade today because someone planted a tree a long time ago." – Warren Buffett
As financial planners, overtime, we understand the power of long-term planning and the impact it can have on your future. Our role as guides and consultants is to help clients plant their financial trees, ensuring they grow strong and provide shade and security in the years to come.
Let's take a moment today to appreciate the importance of thoughtful financial planning. It's not just about numbers and investments; it's about building a legacy and securing peace of mind for you and your loved ones.
06/19/2024
96 days to hit $3 Trillion from $2!
A cash-out refinance did not make sense
Especially in their situation to add a mother in law unit to rent it out.
They are going from a really low mortgage rate to much higher one given the current rates…
Risks are:
- Higher interest rate
- Higher mortgage payment
- Higher cost for the remodel
- Negative cash flow early years
- Risk of time and occupancy
What else should they be thinking about?
06/12/2024
Why Estate Planning is crucial
And why It's more than just for tax purposes
06/10/2024
Making the leap from W2 to 1099 income?
5 essential financial planning tips:
1. Budget for Variable Income: Anticipate fluctuations and manage cash flow effectively.
2. Self-Employment Taxes: Set aside funds for higher tax responsibilities and quarterly payments.
3. Health Insurance: Research and secure your own health insurance plan.
4. Retirement Savings: Explore solo 401(k), SEP IRA, or other retirement plan options.
5. Emergency Fund: Build a robust emergency fund to cover unexpected expenses.
06/07/2024
Reduce your tax liabilty
Heard of tax loss harvesting!
Benefits:
- Reduces tax liability
- Improves portoflio performace
- Capital loss carryover
- Increases after rax returns
- Strategic rebalancing
Tax Loss Harvesting - a strategy used to reduce taxable income by selling investments at a loss to offset gains from other investments. This can lower your overall tax liability.
Personal finance can be a source of anxiety for many.
Here are five common fears people may have regarding their finances:
- Financial instability
- Debt
- Retirement insecurity
- Investment losses
- Lack of financial literacy
What else do you think?
05/31/2024
Considering purchasing a rental property?
Key things to consider before you assume the tenants! 🏡💼
Taking the leap into rental property ownership may potentially be a rewarding investment, but there are several critical factors to investigate before assuming the existing tenants. Here’s what you should look into:
05/20/2024
I love what I do - so why not share it with my community?!
We all know that we can be more
Impactful to others if you are in the same or similar season as they are…
I’m super excited to have the opportunity to be a part of Duvall Days Festival - a local festival that celebrates “Small Town/Real Life” community spirit.
If you’re around, come stop by my booth on Saturday, June 1st from 11:30 AM-4 PM by the Shell Gas station. 🙂
- City of Duvall
Should you frontload your savings to your 401k?
I’d say it depends on the season of life you are in. If cash flow can be flexible and your financial commitments are low, then I would say yes, why not.
However, if goals and responsibilities have changed then I would enourage you to reconsider having a streamlined approach when it comes to your savings. This way, you can create consistency among all your goals through out the year…
05/01/2024
Paying off studen loans from RSUs
Is what I recommended a client to do.
Specific to their own financial standings, they had enough and more cash flow to accommodate the monthly payment, but my question was why pay interest when we really do not have to.
The argument that can be made is if you invested it instead then overtime it could have made more, but that is not a certainty, but what is a certainy is that when you payoff the student loans, you:
- Free up cashflow
- No more interest payments
- Save on interest
- Debt to income ration is low
- Feeling accomplished
- Weight of your shoulders
- etc…
Cash flow should be like water
Agile. versatile. essenstial.
Adapting savings according to life's seasons is crucial. I strongly advocate channeling cash flow towards varying goals, just like water adapting to different landscapes.
For instance, I work with a client aiming to buy a home within a year. Currently, he's allocating an extra $6,000 monthly to his retirement account and company stock purchase plan.
Considering his financial trajectory, we've decided to redirect this monthly surplus towards his down payment goal.
This strategic shift will yield him approximately $60,000 in cash, serving a specific purpose.
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Address
1417 116th Avenue NE #202
Bellevue, WA
98005
Opening Hours
| Monday | 9am - 5pm |
| Tuesday | 9am - 5pm |
| Wednesday | 9am - 5pm |
| Thursday | 9am - 5pm |
| Friday | 9am - 5pm |