Good Neighbor Podcast: Cobb County
Bringing together local businesses and neighbors of Cobb County. Good Neighbor Podcast hosted by Milli M. helps residents discover and connect with your local business owners in and around Cobb County, Georgia.
Is your business serving the residents of Cobb County? Then, we need to talk! Visit gnpCobbCounty.com to schedule your free interview.
Good Neighbor Podcast: Cobb County
E49: Money Maven Rita Lakes: When Your Accountant Becomes Your Financial Superhero
Money matters can be overwhelming, especially when you're not sure where to start. Meet Rita Lakes, a financial expert who turned her own financial struggles into a mission to empower others. As founder of HJP Lakes Financial Solutions, Rita has spent over 20 years helping clients not just with taxes and bookkeeping, but with building true financial security and confidence.
"I was great at taxes, but I didn't understand how to create wealth," Rita confesses, sharing how she once found herself in debt and worried about her future despite working in finance. This personal journey transformed her business from basic accounting services into a comprehensive financial planning practice. Today, she helps clients protect their income, build wealth strategically, and navigate the complex world of retirement planning.
Rita debunks several costly misconceptions during our conversation. Did you know there are over 2,700 rules governing Social Security benefits? Without proper guidance, you could leave hundreds of thousands of dollars unclaimed. She also challenges the notion that financial advisors are only for the wealthy. "Planning is what helps you build wealth," she explains, comparing waiting until you're rich to seek financial advice to "calling a fitness trainer after you've already lost weight." Her firm serves clients of all ages and backgrounds—from parents with newborns to 85-year-olds preparing their legacy.
What sets Rita apart is her commitment to education and empowerment. As a certified long-term care specialist, registered Social Security analyst, and financial educator, she creates a safe space where clients can ask questions and take confident action. Her motto says it all: "We don't just do your taxes—we help build your future." Ready to transform your financial outlook? Connect with Rita through her website or schedule a free consultation to discover how you can retire with confidence.
This is the Good Neighbor Podcast, the place where local businesses and neighbors come together. Here's your host, Millie M.
Speaker 2:Hello everyone, Welcome to the Good Neighbor Podcast. I'm your host, Millie M. Are you in need of a thorough financial planner for your personal finances or your business? Well, one might be closer than you think. I have the pleasure of introducing your good neighbor, Rita Lakes of HJP Lakes Financial Solutions. How are you, Rita?
Speaker 3:I'm doing great. Thank you so much for having me, Melly.
Speaker 2:Absolutely. We're excited to learn all about you and your business. Tell us more about HJP Lakes Financial.
Speaker 3:Yes, absolutely. Once again, thank you for having me and I'm excited to be here Once again, thank you for having me and I'm excited to be here. My name is Rita Lakes and I am the founder and the owner of HJP Lakes Financial Solutions, a firm that I'm proudly led for over 20 years, and I specialize in accounting, bookkeeping, payroll, tax preparation and strategic financial planning. But my business is more than just numbers. It's about empowering people to take control of their finances and design a future they're excited about. About nine years ago, I realized something was missing, and I saw many of my clients working hard but struggling to get financially Right. They were earning money but not building wealth.
Speaker 2:Right.
Speaker 3:That's when I made a powerful decision to expand my practice into a comprehensive financial services that includes retirement income planning, insurance protection, annuities, long-term care solutions and financial education, and I earned certification that helped me better serve my clients. I become a certified in long-term care, registered social security analyst and certified financial educator. Now, HGAP Lakes Financial Solution doesn't just prepare taxes, keeping you know, crunching numbers. We help our clients protect their income, grow their money and retire with confidence and, of course, our mission is to provide a holistic, education-based financial strategies that make a difference for individuals, families and similar you know business owners like myself.
Speaker 2:That's a wonderful mission, because I think a lot of times people say I make a lot of money, but if they don't keep that or grow that or have a plan for the future, then it's really like just sand going through their hands. What are some of the myths and misconceptions about your industry or what you do in particular?
Speaker 3:Oh my, there are several misconceptions or myths about the industry and, honestly, these misconceptions are costing people a lot of money and peace of mind. One of the biggest myths is that you only need a financial advisor if you're already wealthy. Right, that could not be farther from the truth, you know. The reality is most people need financial guidance before they accumulate.
Speaker 3:well, you know, planning is what helps you build wealth yes right and awaiting until you've already made it is like calling a fitness trainer after you already lost a weight you miss the journey to get you there. Another myth is that taxes and retirement planning are a separate conversation. A lot of people file their taxes every year but never talk to anyone about how those taxes affect their future retirement income. Right, and that's dangerous, because when you start taking withdrawals from your retirement account we call it RMD, required minimum distribution and you start collecting social security or face, you know, as I mentioned the RMD, those taxes come back and they can shrink your income if you are not prepared.
Speaker 2:Right.
Speaker 3:And in fact, this Thursday, April 24th, I have a workshop about social security optimization. It's no cost to everyone, and also many people believe that social security is simple and the government will just tell you what's the best. The truth there are over 2,700 rules in social security. Yes, and without personalized guidance, you could leave 10 of thousands or even hundreds of thousands of dollars on the table.
Speaker 2:Your service is definitely, definitely needed, so do you so. Is your target customer someone who is heading towards retirement, or do you service multiple people in different phases of their life, multiple phases of life.
Speaker 3:Yeah, multiple phases of life. In fact, you know I am helping you know a parent. They have just newborn baby. Zero month old, yep. Up to 85 year old.
Speaker 2:Oh, wow. And how do you find your customers, or how do they find you?
Speaker 3:Well, I am conducting seminars or shops, and yeah, and just spread the word, you know how I can be, how I can able to help the community and the business owners as well.
Speaker 2:Absolutely so. Outside of work, what do you do for fun?
Speaker 3:Oh, my Lord. You know, outside of work, you know I really enjoy, you know, spending time with my family. You know, especially my children. I have two, which is third year college now in University of Georgia and majoring finance as well. Yes, son, you know, graduating this May in high school in South Cab. You know, family is everything to me and seeing them grow, succeed and thrive, you know, brings me too much joy and we love to have a meaningful conversation. You know brings me too much joy and we love to have a meaningful conversation you know, celebrate life milestone and you know I am also passionate about traveling.
Speaker 3:You know it helps me recharge, you know, and gain perspective of life, without you know whether it's a quick getaway or, you know, adventure or something like that. I love experiencing new cultures, meeting new people.
Speaker 2:Absolutely, absolutely. So let's switch gears a little bit. Can you describe a hardship or a life challenge that you overcame and how it made you stronger?
Speaker 3:Well, you know, one of the biggest hardship is I faced I was being financially illiterate right, despite working in the finance world. I was great at taxes, but I didn't understand how to create wealth right and how to protect my income and how to plan for retirement. That realization hit hard. There was a point in my life when I was in debt, worried about my future, unsure how to climb out. It's a scary feeling to look at your finances finances, my finances not to see a way forward right, especially when you're providing the family okay. But that hardship became a turning point. You know. I decided to learn, grow and change and I invested in my own financial education in my own financial education.
Speaker 3:I studied everything I could about income strategies, long-term care, tax-free retirement and wealth building. My journey for 20 years on this industry. I helped clients file bankruptcy and the common denominator is the medical cost. And's real. Yeah, it's real, you know, and that is why I earned my certification. I get mentors and I did the work. Right now and now, that experience is my great greatest strength. Yeah, you know, I understand my clients deeply because I've been where they are Right. I know the fear, the frustrations and the confusion, but also I know the transformation that's possibly with the right information and guidance.
Speaker 2:That is so inspiring, and being under that financial weight affects every other part of your life, from your mental health to your relationships, to how you deal with your children, how you show up at work, you know. So, to be able to give your clients that hope, I'm sure that they're very, very appreciative of that, yeah, so please tell our listeners one thing you would like for them to remember about HJP Lake's financial solutions you would like for them to remember about HJP Lake's financial solutions.
Speaker 3:Well, one thing that they want me to remember is if there is one thing I want people to remember at HJP Lake's financial solutions, we don't want to do your taxes. We help build your future right. We are very passionate about financial literacy, income protection, retirement, income planning and legacy creation. We believe that everyone deserves a chance to build wealth and retire with dignity Not just the wealthy, but everyday hardworking individual and family right. We provide a safe, educational and empowering environment with our clients and ask questions, get answers and take action with confidence right. Whether it's navigating social security, you know questions right how to protect the assets from long-term care costs or building tax efficiently retirement income. We're here to guide and support and empower you. Our motto is retire with confidence and everything we do is built around that mission.
Speaker 2:Wonderful mission and I'm sure a lot of our listeners would love to reach out to you to help build that confidence and their future. So how can they get in touch with you?
Speaker 3:yes, um, how you can in social media. But, you know, check check out only my, my, um, my website, and you can also, um, um, have a free consultation at calendlycom. Forward right to last hour links. Okay, you know I'm here to help you with the confidence and you know, don't wait, don't wait.
Speaker 2:It's too late. Do it now. Thank you so much, Ms Rita. I really enjoyed talking to you and hearing your story. Best of luck to you and your business moving forward.
Speaker 3:You're welcome and thank you so much as well.