Lotic Financial Planning LLC, founded by Daryl Varney, provides Advice-Only project based or hourly financial planning services to women, particularly women in technical and scientific fields. Underlying the financial services provided is the education and empowerment of women to manage their own finances.
The Lotic Story
I started Lotic Financial Planning LLC because I saw my fellow women engineers and STEM professionals making good salaries, but not having the financial education to effectively make their money work for them. I heard questions like:
- How do I fund my child’s college education?
- How should I invest my 401(k)?
- Can I afford to buy a house?
- I need help organizing my finances. I have opened many accounts over the years, but I am not sure what each account does or how to simplify my finances.
- I am moving to a new company. What benefits and accounts can I move out of my old company?
- Should I rollover my 401(k) account to an IRA after I retire?
- How should I rollover 401(k) accounts from former employers? I don’t want to make a mistake and get hit with unexpected taxes.
- I just inherited an IRA, but I understand the rules have changed in how long I have to take the money out of the IRA. I don’t want to make a mistake and have to pay tax penalties.
- Should I do Roth conversions of my IRAs. Does that make sense for me?
- Why do I need an Estate Plan, I don’t have enough money to need an estate plan?
- I really don’t know if my savings are on track to meet my future retirement goals. How do I figure that out?
- I don’t understand the investment options offered in my 401(k). How do I choose?
- My parents are getting older, but I don’t know if they have a plan in place to cover their future health care needs or an estate plan if they die.
- I am just starting a new job. Should I invest in my companies 401(k) or Roth 401(k) plan?
I earned my MBA degree at the same time as my MS in Electrical Engineering. I always had an interest in personal finances, so why not expand my personal interest and expertise to help others. I went back to school and received my Financial Planning Certificate and later obtained my FINRA Series 65 License so I could open my own Registered Investment Adviser (RIA) firm. I meet virtually with clients located in Illinois as well as across the country.
Coming from an engineering background, I understand that you could dig down and research this yourself, but you may not have time with career and personal demands. As an Advice-Only planner I can focus on everything that matters in your financial life, not just investment management. A holistic approach in helping guide you down the river of your financial life. No asset fees or minimums and no financial product sales. More details on Advice-Only at Lotic here.
Daryl Varney is the founder and President of Lotic Financial Planning LLC.
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