DJH Capital Management, LLC.
Financial Planner | Wealth Advisor
Dominique J. Henderson, Sr. began serving in the financial industry in 1998. He is founder and managing member of DJH Capital Management, LLC. a registered investment advisory firm providing comprehensive financial planning and wealth management to high-net worth individuals and entrepreneurs.
Professionally, Dominique has spent nearly two decades in financial services building a diverse skill set in data analysis, investment research, portfolio management and financial planning. Prior to founding his firm, he spent years in institutional fixed income trading circles where he co-managed a multi-million dollar municipal bond strategy producing annualized returns in excess of 7%.
Dominique uses his expertise to build financial plans and investment portfolios that help his clients find greater financial contentment in their lives. He crafts custom plans to meet the diverse needs of each client in investment, tax, or estate planning. He deeply desires to see people “win” with their hard-earned capital.
Dominique’s financial advice has been featured in such publications as US News & World Report, GoBankingRates.com as well as, as his weekly podcast, Experiencing Financial Contentment. He uses the podcast as a medium to help promote financial literacy, economic empowerment and personal development.
Dominique is also an active member of the National Association of Personal Financial Advisors (NAPFA).
Master of Security Analysis & Portfolio Management, Creighton University
BA, Finance, Prairie View A&M University
Assets Under Management:
Ready to upgrade to Life 2.0
Creating a Roth When You're Over the Income Limit
Worldview and Philosophy
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I'm sorry to hear about the predicament you find yourself in. You may try the following:
- If you itemize your deductions on your tax return, try completing the back side of the W-4 worksheet. It may be that you are having too much withheld for taxes every paycheck. This may put more money into the monthly cash flow;
- Also, look at your auto insurance policy deductible. Usually these are $500 and lower which cause your monthly premium to be higher. If you can raise the deductible you can save some extra cash there;
- Lastly, I'd advocate trying to create more streams of revenue by putting your content in other places. Websites like UpWork have job offers for content writers all the time or you may even decide to create your own blog (through WordPress) that you can start to monetize. You may also consider moving to a larger town where there will be more opportunity and greater pay for the type of work you do.
Tax reduction (if possible), insurance policy check, and creating a side hustle should hopefully help you get some traction.
The context could probably be pretty broad, but here are some guidelines:
1) Debt to total assets should be less than 30%. For every dollar of assets you should have 30 cents or less of total debt payments.
2) Housing debt should be less than 28%. For every dollar of gross income (for the household) your principal and interest (for your mortgage) should be at or less 28 cents. If you combine all debt payments you would ideally want those to be 36 cents or less (per dollar) of your gross income.
Again, these are just best practices guidelines. But they allow for you to save at least 10% of your gross income for future savings goal (e.g. retirement, education, etc.) So anything within those guidelines would correspond to a "good" debt ratio.
Hope this helps!
In addition to the extremely helpful video from Investopedia, keep in mind:
Whenever an asset is exchanged or sold, the IRS considers that event "realization". Usually whenever realization occurs, "recognition" (the inclusion into taxable income) must occur unless there is an exemption. As long as assets aren't exchanged or sold there is no realization therefore the term "unrealized".
Example: You buy XYZ stock for $1 on Jan 1st and on July 22nd it is worth $10. You have an "unrealized" gain of $9.
Hope this helps!
Good question. Let’s first distinguish between penalty and a taxable event.
The penalty is assessed when you make a withdrawal or distribution from the qualified plan (e.g. 401(k)) before retirement. Here are the exceptions to avoid the penalty:
- Death or disability
- Attainment of age 59.5
- Taking substantially equal periodic payments
- Medical expenses >10% of AGI
- Qualified domestic relations order
- Qualified public safety employee separated from service
- Attainment of age of 55 and separation for service.
If you don’t meet one of those, your withdrawal from your 401(k) will be assessed the 10% penalty. As a general rule, if you receive the penalty the withdrawal is likely taxable. How much the tax consequence will be is determined by when you file your taxes since the entire distribution is included in your adjusted gross income.
That being said, it is likely that a school loan in your name or the child’s name is the cheaper alternative. It will likely have more generous terms than your 401(k) loan especially if it is subsidized and you won’t have to pay it back in 5 years. Especially if you don’t want to read through the plan documents for your 401(k)!
Because of the potential ramifications of making an incorrect choice, I’d highly recommend seeking the advice of a tax professional.
I hope this helps.
No they are not unfortunately. You may want to look at registering them through a registrar like Computershare. Registered shares in electronic form will be much easier to sell if there is a willing buyer.