108 episodes

A semi-monthly podcast that brings you advice and interviews with experts on various important topics to help you make better and smarter financial decisions in order to improve or maintain your financial situation.

Financial Freedom Podcast Steven J. Richardson, Esq.

    • Education

A semi-monthly podcast that brings you advice and interviews with experts on various important topics to help you make better and smarter financial decisions in order to improve or maintain your financial situation.

    Why the Pandemic Makes Estate Plans Critical

    Why the Pandemic Makes Estate Plans Critical

    The COVID-19 pandemic has now reached over 3.9 million cases in this country (with over 179,000 in New Jersey) and has caused over 144,000 deaths (with over 15,000 in New Jersey). Even those who have survived the illness have had a tough time, with many having lengthy hospital stays.
    This taste of our own mortality has been sobering for all of us; something like this hasn’t happened for over 100 years! But that doesn’t mean we shouldn’t be prepared for its eventual arrival. Way back in Episodes 18 and 21 I talked about the importance of having an estate plan and how to go about doing it. But with all that is going on in the world today, I thought I would revisit the subject, as the pandemic has emphasized its importance.
    In this episode you will learn:
    Why it is important to have an estate plan The documents you need to create to have one What you need to think about to prepare them Federal and NJ tax issues

    • 30 min
    Virtual Assistance for Your Business with Connie Gray

    Virtual Assistance for Your Business with Connie Gray

    Due to the pandemic, lots of people are either working from home or have lost their jobs because they cannot be done from home. Those in the latter group may be looking for a job that allows them to do so. On the other hand, many small businesses are looking for help, but are unsure whether hiring someone (and taking on the payroll and other administrative tasks that go along with doing so) is the right move.
    That’s why in this episode of the podcast I talk with Connie Gray, the owner of Virtual Solutions 4U on how to be a virtual assistant, whether that’s the right career for you as an employee, and whether taking one on is the best move for your small business.
    In this episode you will learn:
    Things you should consider in whether to hire a VA or an employee for your business The tasks that VAs can perform for your business The skills you should have if you want to become a VA  

    • 41 min
    Student Loan Strategies When the Government No Longer CARES

    Student Loan Strategies When the Government No Longer CARES

    On March 27, 2020, the CARES Act was signed into law to help people deal with the devastating economic effects of the coronavirus. Many of the provisions help student loan borrowers, and while they provide some welcome relief, the law doesn’t address all of the problems that student loan borrowers face.
    In addition, these provisions are set to expire on September 30, 2020, so the relief is a short-term solution. Therefore, anyone with student loans, whether they are federal, state, or private, need to act soon to have a plan by the deadline. That’s why in this episode of the podcast I talk about some strategies you can look into to use this breather as an opportunity to get your loans back on track!
    In this episode you will learn:
    Ways to get out of default on federal and NJ CLASS student loans How to get an affordable, income driven loan repayment plan How to pay off your loans sooner if you are a public employee

    • 14 min
    Tax Traps for Telecommuters

    Tax Traps for Telecommuters

    Social distancing orders in light of the coronavirus pandemic have forced companies to send workers home and have them work remotely. The trend might continue. According to a Gartner survey of 317 finance executives on March 30, 3 out of 4 chief finance officers and finance leaders are considering moving at least 5% of their on-site workforce to remote positions permanently after the pandemic.
    In addition, many people have reported an increase in quality of life and a shift in the work-life balance after having worked from home for a while. But all of this can raise tax issues for you that could come back to haunt you. That’s why in this episode of the podcast I wanted to talk about those issues, so that if you’d like to make your kitchen, your spare bedroom, or your beach house  your permanent office, you will know what it might mean for your taxes.
    In this episode you will learn:
    What bordering states have reciprocal tax agreements How being taxed by two states can work for or against you The good and bad news about home office deductions

    • 13 min
    Dealing with Financial Stress with Dr. David Weiman

    Dealing with Financial Stress with Dr. David Weiman

    Being in debt is stressful, no question! It can weigh on your mind with constant worry about how you will ever be able to pay the debts and avoid bankruptcy. It can have you afraid to open your mail or answer the phone.
    But there are helpful and constructive ways to deal with this stress, which is why in this episode of the podcast I talk to psychologist Dr. David Weiman on how you can address that stress head-on and keep it from ruling your life!
    In this episode you will learn:
    How financial stress can affect your health and mental state Key steps to lowering financial stress What you can learn from people who handle stress well How knowing your risk tolerance can lower stress in retirement planning

    • 39 min
    Student Loan Solutions During the COVID-19 Pandemic

    Student Loan Solutions During the COVID-19 Pandemic

    The COVID-19 pandemic has caused a huge disruption in our economy, as millions of people experience job loss or pay reduction, leading to great difficulty (or outright inability) to pay their bills. Congress responded with the CARES Act in March that gave aid in several different sectors, including student loans.
    As a student loan attorney, I have been following these developments and was encouraged by the help given in that area by this legislation. But as the assistance provided in the CARES Act doesn’t solve everyone’s problems, I wanted to talk in this episode about what you need to do during the pandemic to keep your student loans on track, whether they are federal or private.
    In this episode you will learn:
    What the CARES Act covers and what it doesn't How to deal with federal loans not covered by the Act How to deal with your CLASS loans from HESAA How to deal with your private loans

    • 17 min

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