5 Smart Things You Can Do With the Money You’re Saving During Covid-19

Available for Interviews: Lauren Moone

Lauren Moone is an Executive Vice President at Mirador Capital Partners and has been providing investment advice for individuals, families, and institutions for over 13 years.

 

What Lauren Moone can say in an interview
on Investments and Elections:
 

With vacations on hold, commuting costs down, and home-cooking on the rise, many US households are finding themselves with a handful of cash. Here are the smart things to do with the money you are saving during the pandemic.

1. Pay down debt

Any financial advisor will tell you that high interest debt is the one of the first things you should get off your back. This will have a positive effect on your credit score and free up funds for investing in other areas of your life.

2. Maximize Your Retirement Accounts

If you haven’t maximized contributions to your retirement accounts and do not plan to by year end, this is a great opportunity to take advantage of the magic that is compound interest.

3. Add to the emergency fund coffers

A part of any good financial plan is having 3-6 months of emergency funds that you can access quickly. If you find yourself without an income, you will be proud of yourself for having the discipline to save this money.

4. Save for a post-COVID vacation

If you had a vacation planned for 2020, chances are those plans have been scrapped. Here’s an opportunity to make the next one extra-special. Saving for a future date is a great way to fantasize during an otherwise dreary time and can be an effective way to boost morale around the house!

5. Invest in a brokerage account

Again, take advantage of compound interest by buying stocks or bonds in your investment accounts. This will pay off in your future and is one of the smartest ways to spend discretionary income.

 

Interview: Lauren Moone

Lauren Moone specializes in complex financial planning and customized portfolio construction. She advises clients on vital financial matters including pre-IPO planning, employer stock option optimization, wealth transfer strategies, and concentrated equity strategies. Lauren is a native of Seattle, Washington and moved to California to attend Claremont McKenna College, where she graduated with a degree in Economics and Accounting. Lauren is a CFA® charterholder, a Certified Financial Planner (CFP®) certificant and a Certified Private Wealth Advisor(CPWA®) professional. Lauren currently resides in Pleasanton, California with her husband and three children.

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