Seeing my favorite team play would be fun, but can I afford it? Sometimes, this is one of those discretionary spending categories we want to spend money on. Still, we are unsure if it is in the budget or what the priorities should be regarding non-mandatory spending categories. That category is live sports for me. Very few people can afford the money and/or time to see every pro or college game of their favorite team, but most passionate or even casual fans would welcome seeing at least a game or two live. If you have debated seeing a game live but are hesitant about costs, read along for the best way to see your favorite team. The first step in deciding if you can even afford to explore your options of attending in-person sports is making sure there are actual discretionary dollars in the budget to go at all. After you have answered yes and thought through other ways to spend your money and decide to prioritize going to a big game, let’s explore ways to make it more affordable. Money-saving tips that work in each of these categories for virtually any live game you attend: Purchasing Tickets Once you have selected a game or two you want to see, almost always your most significant expense is the tickets themselves, so exploring all your options to get the best price for tickets is always the best policy. Just like the stock market, you have two broad categories for buying tickets: the primary and secondary market. Buying directly from the team is the equivalent of buying in the primary market, and purchasing through a ticket broker or someone “off the street” is the same as going to the secondary market or buying through a stock broker or financial advisor. Similarly to stocks, you sometimes get a better deal on the primary market, or sometimes the secondary market will provide a cheaper ticket to go to the game, more affordable than many others at the same game. The primary market will only have one option, but the secondary market will have several. Shopping through Stub Hub, Seat Geek, eBay, and the team-endorsed secondary markets is best, as sometimes the prices vary a fair amount. It is always good to do your homework and check all options. If it is a high-demand game, going directly to the team (primary market) will probably be a lower price. If it is not likely a sell-out and is a lower-demand game, then you likely can find prices well below the face value of the ticket the team sets. One fun, entrepreneurial way to reduce your cost of tickets if you want to go to multiple games is to buy season tickets. Usually, you will receive a little discount without fees for a more significant upfront cost. Then, you can sell some of the highest-demand games at a profit, reducing the overall cost of the games you attend. This strategy usually works well if your team is very good and in a larger market. If your team is one of the worst in the league and in a smaller market city, this strategy is riskier and could make the tickets more expensive and sap more out of your discretionary budget than you intended. The night of the week or the team your team plays If the top priority is seeing your favorite team live, with the when and who they play as secondary concerns, then seeing them on an “off” day/night could be a possible option and should save you anywhere from 10% up to 100% of the cost compared to playing a good and popular team on the weekend. A random Tuesday game against a small market team will provide significant savings versus a game on a Saturday against the best team in the league. Avoiding National Followings Every sports league has teams with a national following, but some teams have larger followings than others. This means there will be fans who live in or near your city that will watch the opposing team, which drives up ticket prices for a game against your “home team” and the opposing out-of-town team. Some examples of teams with a larger national following are the Celtics, Lakers, and Knicks in the NBA, the Cowboys, Raiders, and Steelers in the NFL, and the Yankees, Dodgers, and Cubs in the MLB. So, if you want to see your team at a reasonable price, we suggest avoiding games against these larger (national following) teams, especially on the weekend. You usually pay significantly less for your game during the week against a less popular team. *Sidenote: Going along with this idea, a top-rated player in whatever league your team is competing in will drive up the cost of tickets, so you may want to avoid having to pay that premium. Parking This expense will rarely be as expensive as the game tickets, but similarly, the prices vary, and you are wise to do your homework on your options. This can be trickier to shop for because not all costs can be found online. Most of the time, parking garage prices can be found online, but there are sometimes cheaper options. On a side note, parking garages usually take the longest to get in and out of, so if you are pressed for time or impatient, you likely want to shop for an alternative. One general principle to apply is the further away from the stadium you park, the cheaper it will be, and as you get closer, the cost goes up. If you are not in a rush and don’t mind walking a distance, you may find spots on the street for free or need to put a few dollars in a meter. Finding an off-street lot medium distance (a quarter to half a mile) from the arena is the best value for many games. The best decision is usually the combination of a fairly safe, easy to get in and out of, and lower cost than right by the arena or in a parking garage. The cost range can vary by city and cost of living there, but generally, on the low end, it is $10 for a decent walk on a lower-demand game and as high as $60 for a high-demand or playoff game near the arena. Another universal cost saving to sporting events that usually applies is to use public transportation. Taking a bus or train usually costs only a few dollars and prevents you from sitting in traffic or driving around to find a parking spot. In some cities, this may be a better option than others. Still, this is usually an excellent option if you don’t have several young children or are uncomfortable with public transportation. Food/Concessions If you are not experienced with going to pro or big college games, this cost can sneak up on you. If you think it will cost similarly to going to the high school cafeteria for your son or daughter’s high school game, you are in for a rude awakening. Buying just a hot dog and soda to wash it down will cost at least $10. Going to a game hungry with a family of four could easily set you back $100 or more. One obvious cost savings is eating a hearty meal before taking off for your game, so buying concessions is unnecessary. Attending the game is to cheer on your team, not to sample average-tasting fast food. Coolers and book bags are not allowed to be brought into a game, but in most arenas, having a protein bar in your pocket and water or juice in a clear plastic bag is acceptable. This can have the same effect as enjoying a snack and not being overly hungry while providing significant savings. Occasionally, electronic tickets have loaded food voucher credits, so checking to see if they are loaded on your purchase tickets is worth checking. Go in a big group or look for discount or promo nights Most teams will offer group rates for at least ten people or more. Going in a big group may be more fun and save everyone some cost off their ticket. Some games may target specific demographics, so if it applies to you, look for family, ladies, or college night as examples of teams offering a discount. Watch your team’s minor-league affiliate If a pro game isn’t in your budget today, going to an affiliate (minor league) game could be a good alternative for a more reasonable cost for a similar experience. Baseball, basketball, and hockey all have minor league teams, usually reasonably close to the parent team you cheer for, making this a viable option for most fans. Watching your team's future stars while young could be a neat option and allow you to be more vested in watching their development. This can also be a good option for getting “good” seats for once because the stadiums are smaller, and you will likely be pretty close to the action regardless of where you sit. After all, even if it is in minor leagues, these are pro athletes who will display considerable size, speed, and talent, which is even more impressive from the closer view. Although football does not have direct minor leagues, they have alternative leagues, like the USFL and Arena football, which, although they may not be affiliated with your long-time team, for sports junkies, these games can still be fun and provide significant savings. Enjoying the Experience at a Reasonable Cost Of course, having friends or family over to watch a game on TV is the best savings, but going to just one game can help you feel even more connected to your team and bring the games you watch on TV even more to life. Like any other activity or item you want to save money on, getting the best pricing takes effort, research, and planning. The more times you go through the process, especially for the same teams and arenas, you will become more efficient and add more savings strategies. For those who take the time to implement these tips, the savings can easily be in the hundreds of dollars for families, leaving them even more satisfied with their pro sporting event experience. Outside of trying to cut down costs of the experience, if you are trying to budget and still enjoy a sporting event, perhaps some of these tips could be of some use to you. If you are trying to be more aware of how much you are spending each month, we have a financial coach who specializes in creating tailored budgets. Schedule a meeting with her today if you are interested in becoming more aware and understanding of how your dollars are being spent.

Investing Terminology Overview Getting started with investing can be intimidating for many people simply because they do not understand the jargon used in the investment world. News media hosts and financial advisors are notorious for using acronyms and terms that average or new investors are unfamiliar with. A common word for this is “Finglish” or “Financial English.” Whether it is to try and impress their audience or sound more intelligent than they are, using “Finglish” more often than not will turn a would-be investor away. As with all our advisors at Whitaker-Myers, my goal is to advise with the heart of a teacher. This article is intended for people new to investing or considering investing, but it might also be a nice refresher for the investor with more experience. Here are some different terms that should help you become more comfortable investing. Always consult a professional before investing so you understand the risks associated with investing. Investment Terms Security A security is a stock, bond, mutual fund, or other investment that can be traded. The Securities and Exchange Commission (SEC) regulates securities trading. In case you are wondering, gold is not considered a security. Asset An asset is anything that has economic value with a demand to buy. Stocks, bonds, cash, and real estate are all examples of assets. Asset Allocation Asset allocation refers to how investments in a portfolio are chosen to match the risk tolerance and goals of the investor. Blended asset allocations include stocks, bonds, cash, or alternatives like real estate or commodities. Proper asset allocation differs for each investor and can best be determined by speaking with a financial professional. Return Return is the profit or loss made from an investment. Investment Risk Investment risk is the degree of uncertainty and/or potential financial loss from an investment. All investments carry some degree of investment risk. Liquidity Liquidity is the ease of turning an investment into cash and how much it will impact the price. Examples of liquid assets include cash, stocks, mutual funds, and ETFs. Less liquid investments include real estate, annuities, and precious metals. Capital Gain A capital gain is the increase of the value of a capital asset, such as a stock, that ultimately has a higher value than when it was purchased. Ticker Symbol A ticker symbol is an abbreviation (usually one to five letters) used to identify a publicly traded company on a particular stock exchange. Ticker symbols are often used for pooled investments like mutual funds and ETFs. Here are a few examples of some publicly traded companies and their ticker symbols: Amazon (AMZN), Tesla (TSLA), Walmart (WMT), Coca-Cola (KO), and Alphabet (GOOGL). Stock A stock is a security that provides proportionate ownership in a publicly traded company. Stock is a broad term that can mean a single or multiple publicly traded companies. Stocks are bought and sold mainly on stock exchanges, a marketplace for these transactions. A share of stock is a specific number of units owned by the investor that represents their ownership percentage in the company. For example, as of this writing, there are 15,787,154,000 outstanding shares of Apple (AAPL). When you buy a share of Apple stock, you purchase it from another investor, selling it on the open market at a given price. If you buy one share of Apple stock, you become 1/15,787,154,000 owner of Apple. A company's stock price will increase or decrease depending on market conditions, economic conditions, company-specific events, etc. There is no guarantee that the investor will make money when investing in stocks, so they inherently carry more risk than other types of investments. However, buying the right stock at the right time can be highly financially rewarding. Bond A bond is a type of security that a company or government issues to raise capital (money). Essentially, a bond is a loan to the issuer, and you, the investor, are the lender. The bond issued is a legal obligation on the issuer to repay the principal loan, plus interest to the investor. Bonds carry less risk than stocks, but they are most definitely NOT risk-free. Interest rate risk, reinvestment risk, default risk, and liquidity risk are just a few risks associated with bonds. Bonds also have ratings that tell the investor the level of risk they can expect when deciding whether to invest. Lower-risk bonds typically have lower returns, and higher-risk bonds usually offer higher returns. Check out the table below to see different bond ratings and the level of risk they carry. Any rating below BBB is considered a “Junk” bond. Expense Ratio An expense ratio is the cost to the investor that a mutual fund or ETF charges to manage the fund. It covers all the fund's expenses, including management, administration, advertising, etc. The expense ratio is built into the fund's daily net asset value (NAV) and is not a separate charge to the investor. The formula to calculate a fund’s expense ratio is The Total Fund Costs divided by The Total Fund Assets. Net Asset Value (NAV) Net asset value, or “NAV,” is an investment fund’s total assets minus its liabilities. The formula to calculate the net asset value per share is Fund Assets minus Fund Liabilities divided by Total Shares Outstanding. Mutual Fund A mutual fund is an investment where pooled money from multiple investors gets invested in stocks, bonds, or other securities. Investing in mutual funds gives investors more diversification than they would earn from buying an individual security. A stock mutual fund, for example, might invest in all 500 companies that make up the S&P 500. Now, the investor is diversified across 500 companies instead of one, which can mitigate risk. Mutual funds are also managed by a Fund Manager (often an entire team) whose job is to attempt to achieve the goals of the fund they manage. ETF (Exchange Traded Fund) An ETF is like a mutual fund in that it is pooled money by multiple investors that gets invested in stocks, bonds, or other securities. One significant difference between mutual funds and ETFs is that a mutual fund only trades once daily after the market closes at 4:00 p.m. Eastern, and ETFs trade “intra-day” between 9:30 a.m. and 4:00 p.m. EST while the market is open. Also, ETFs tend to be more tax-efficient than mutual funds because of their structure. Large-Cap A company with a market capitalization value of more than $10 billion. If you are familiar with Ramsey Solutions, this will fall in the Growth or Growth & Income category of their 4 categories. Mid-Cap A company with a market capitalization value between $2 billion and $10 billion. Small-Cap A company with a market capitalization value between $250 million and $2 billion. Both Mid-Cap and Small-Cap would be considered Aggressive Growth in the 4 categories. This video on our YouTube Channel discusses the Ramsey Solutions 4 categories of Growth & Growth & Income (Large Cap), International, and Aggressive Growth (Small-Cap and Mid-Cap). We also give examples of stocks that would fall into those categories. Working with an advisor This list barely scratches investing terms' surface but is a good start. You do not need to know everything there is to know about investments to get in the market and start investing for your future. A great place to start would be to schedule a phone call with me or one of our other advisors. We are not the type of advisors that will “Finglish” you out the door. We aim to help you understand the importance of investing and planning and how crucial they are to help you reach your financial goals.

I'm going through the Certified Kingdom Advisor material right now. It's great - thought-provoking, Gospel-centered, and it's challenging me. Challenging me to think about things from more of a Kingdom mindset. Here are some things I've been mulling around: Giving While in Debt? You know the stat...... 7 out of 10 Americans are living paycheck to paycheck, and our recent bout with inflation has only exasperated those issues within the country. So how do we counsel the person in debt to deal with giving as it relates to their daily budget? In 1 Corinthians 16:2 the apostle Paul said, “On the first day of the week let each one of you lay something aside, storing up as he may prosper, that there may be no collections when I come.” We tend to think about giving as the last phase of our budget. But instead, the apostle Paul is telling us it must be at the top of our budget. It must be the first thing that we do. He is essentially telling us: WE SHOULD GIVE. Now, there are some practical ways to make this happen. First, it should be proportionate to the situation you find yourself in. Many times, if someone is deeply in debt, we may encourage them to give still, but being gazelle intense with paying off their debt will allow them to quickly get to a position where they can give a tithe, plus an offering, plus spontaneous giving. Second, it should be systematic, out of your income. Why does your electric bill never go unpaid? Why does your mortgage never go unpaid? Because they are highly important and you have a systematic process for them, or said another way, they are automatically paid. That is how you can be a more effective giver. First, determine what you should be giving and then make it automatic. Then it’ll happen, and just like everything else (mortgage, electric, etc.), you’ll force yourself to budget around it. Why Should a Christian Be Giving? Breaks The Power of Money Remember, giving can be challenging at first, especially when you feel like there are competing interests; however, there are benefits within your spiritual life that giving will help you master. The first of which is giving breaks the power of money. Money has no power over me when I freely give it. The Apostle Paul again says in 1 Timothy 6:10, “For the love of money is the root of all kinds of evils. Through this craving, some have wandered away from the faith and pierced themselves with many pangs.” Notice Paul does not say that money itself is evil – many with an unhealthy relationship to hating money will say this is so, but it’s not. It’s the love of money. How do I live out that I am not in love with money? I freely and generously give it away. In Matthew 6:19-24, Jesus further tells us, “Don’t store up treasures here on earth, where moths eat them and rust destroys them, and where thieves break in and steal. Store your treasures in heaven, where moths and rust cannot destroy, and thieves do not break in and steal. Wherever your treasure is, there the desires of your heart will also be. Your eye is like a lamp that provides light for your body. When your eye is healthy, your whole body is filled with light. But when your eye is unhealthy, your whole body is filled with darkness, how deep that darkness is! No one can serve two masters. For you will hate one and love the other; you will be devoted to one and despise the other. You cannot serve God and be enslaved to money.” Giving Helps Us To Recognize God's Ownership The difference between a Kingdom-based Financial Advisor and a normal (albeit good one) is that they recognize that God owns it all. 1 Chronicles 29:11-12 says, “Yours, O Lord, is the greatness, the power, the glory, the victory, and the majesty. Every in the heavens and on earth is yours, O LORD, and this is your kingdom. We adore you as the one who is over all things. Riches and honor come from you alone, for you rule over everything. Power and might are in your hand, and it is at your discretion that people are made great and given strength.” What a powerful verse. As I recite that verse, I can almost feel that power that God owns it all and everything is His and under His control. Thus, when we give, we recognize that God first gave to us His Son and then everything that is good and precious in our life, including any financial blessing. Thus, giving it back to him is just as if your mother made you a wonderful dessert and asked you as she freely gave it to you without stipulating if she could have a bite. You’d be crazy to tell her no. And we’d be just as crazy to not give back to God. Giving is An Act of Love It’s a natural, practical way to be the hands and feet of Christ on this earth. 1 John 3:17 says, “But whoever has the world's goods and sees his brother in need and closes his heart against him, how does the love of God abide in him?” When I think about Christian and non-Christian people in different parts of the world, through no fault of their own, having to work 10 times harder than any American to make 1/100th of what any American on minimum wage will make – that motivates me to not spend the next dollar on something that has no eternal impact when I can bless that brother or sister? This is why you should keep a $20 bill in your pocket and find a real practical way throughout the week to give it to someone in need. If you don’t find or run into one, consider that a sign from God that you should give that to a ministry that serves third-world countries. A favorite of mine is World Vision, which helps sponsor a child in poverty. They help that child and their community stand tall from poverty through the name of Jesus Christ. I know each week, I’ll be giving away $20 in some way, shape or form. Helps Gain Eternal Perspective & Gods Promises The following two I think of as a brother and sister benefit of giving. First, it helps me to gain an eternal perspective, which can be hard to do in a wealthy country. Jesus said in Matthew 19:24, “Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich person to enter the Kingdom of God.” Paul in 1 Timothy, 6:18-19 says, Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.” Second, God has promised me a blessing for giving. In Matthew 25:23, Jesus said, “Well done, good and faithful servant, you have been faithful over a few things. I will make you ruler over many things. Enter into the joy of your lord.” Now I should be very clear here. I’m not talking about a Joel Osteen type of love God, give to the church, and you’ll be happy, cured of cancer, and free to live your best life now! That giving mentality is undoubtedly from the pits of hell. I’m talking about your giving storing up eternal value for you, which you can’t quantify, and that’s ok, and where God quantifies it as much or little, I should be fine. Just as the parable of the workers in the vineyard in Matthew 20 – help me to not be like the servants that started early and were given just as much as the servant that started in the 11th hour. That’s not my decision, but God owns it all anyway, correct? I should count myself blessed to be part of His kingdom. Where Should I Give? You might have asked, where should I be giving to? The Bible is clear that giving should be given to the local Gospel-preaching church. You should support your local church to meet the needs of your local body of believers, the community they operate in, and for the furtherance of the Gospel and God’s love with that said community. As mentioned earlier, we should look for ways to give to the needy within our communities and the world. With the technology we have been blessed by through excellent entrepreneurs like Elon Musk (I love that dude!), we can now provide giving halfway around the world in seconds. Finally, we should give to further the Great Commission. Find a missionary, perhaps affiliated with your church, perhaps not. I have supported missionaries like The Starkey’s in Haiti, Daniel & Katie Hackett in Mongolia, and Ben & Jessie Simmons in a part of the world we can’t mention. Economic Benefits of Giving As a financial planner, I’d be remiss if we didn’t discuss the economic benefits of giving. While not the reason we ever start to think about giving, there are reasons from a monetary perspective that can improve your cash flow and tax situation. The most predominant thing we typically engage clients with is their required minimum distributions. Quit taking those, paying taxes on them, and letting them sit in your bank account. Do a Qualified Charitable Distribution and use that money for Kingdom purposes: your church, the needy or for the Great Commission. I wrote all about that here: TAX REDUCTION IN RETIREMENT - QUALIFIED CHARITABLE DISTRIBUTION (QCD) (whitakerwealth.com). Of course, many of you are too young to think about this particular strategy today, but it does help you to realize there are economic benefits to giving. Finally, as I think about my own personal thoughts on giving – I must admit – that I am a work in progress. But that’s why Kingdom Advisor training is so necessary! If you want to be good at something, like giving, that you’re not good at, you must be intentional, as we discussed above, and you constantly remind yourself of the overarching truth that governs all of this. GOD OWNS IT ALL. I need that reminder in my life in the morning, afternoon, and evening! I hope this was helpful as we together strive to be better members of God’s Kingdom, not the kingdom of this earth.

The term “money market” often gets brought up when discussing different savings options, but what exactly is a money market? There are two types of money markets: “Money Market Accounts” and “Money Market Mutual Funds”. So, what is the difference between these two? Money Market Accounts Money market accounts are almost a combination of checking and savings accounts. They offer interest rates like savings accounts, but they also provide debit cards and checks like checking accounts. Much like savings accounts, money market accounts rules and rates differ from bank to bank. Some banks require a minimum deposit for their money market accounts, whereas others do not. They are also FDIC-insured like most bank accounts are. Often times money market accounts have a lower return than money market mutual funds but are also slightly less risky due to being backed by the FDIC. Another advantage of money market accounts is that they are offered by the majority of banks, which allows you to keep those funds in the same place as your checking accounts. Money Market Mutual Funds Money market mutual funds act very similarly to standard mutual funds, with a few different exceptions. Money market mutual funds are slightly riskier than bank money market accounts as they are not FDIC-Insured. However, they are still significantly less risky than other mutual funds, because they invest in short-term, higher-quality securities. According to Charles Schwab, they are designed to provide high liquidity with lower risk, as well as stability of capital and they typically have higher yields than some other cash products. With Schwab’s money market fund currently paying 5.24% (as of the writing of this article on 10/4/2023), it can be an excellent investment for those looking to earn money while taking on very little risk. An advantage of money market mutual funds is that they are much more liquid than other mutual funds. Money market mutual funds combine the best of both worlds between mutual fund investments and money market accounts, offering a much lower risk than mutual funds and a better rate of return than money market accounts. This makes them a great choice for an investment to get safe money to grow, making it a solid option for a savings account. If you have a sinking fund because you are saving for a down payment for a house, saving for a vacation or other large expense in the future, or you have an “extra” emergency fund, you might want to consider putting that money in a money market mutual fund to earn over 5% (as of 10/4/23). Money Market Funds through Whitaker-Myers Since Whitaker-Myers uses Charles Schwab as our custodian, we can access the Schwab money market fund for those interested. If you are saving for one of the abovementioned expenses, having this in a brokerage account makes the most sense. If you don’t have a brokerage account, your Advisor would happily help you open one. If you have a question on which money market would benefit you and your specific situation, talk to one of the advisors on our team with Whitaker-Myers Wealth Managers. We are happy to help answer any questions you may have.

Breakfast is the most important meal of the day. You hear this all the time, right? If you are like me and loathe the sound of the morning alarm clock, breakfast is usually the last thing you focus on as you have timed your morning routine down to the minute to get yourself out the door. And after becoming a full-time working mom of two under two, the breakfast concept went right out the window. Then, if I were skipping breakfast, I would be starving by 10:00 a.m., eating any snack I could find, or, even worse, contemplating running through the drive-thru to get an overpriced breakfast sammie that was gone faster than it took me to wait in line. Making the breakfast change So, what was a girl to do? It boiled down to being intentional and planning ahead. I knew I needed to make a change for my waistline and my budget’s bottom line. I wanted (and needed) something that could be grab-n-go, with minimal packing effort, and easy to put together once at work. The first step was considering what my office had to offer (appliances) to help make these changes. We have a fridge, microwave, toaster, and coffee pot. I would assume most offices have these same options, but knowing what appliances you have available can help you create your morning choices. Planning ahead and finding the time to execute the prep work were going to be hard work, but knowing the benefits at the end would outweigh those is what forced me into making this a regular routine now. Compiling the Grab-n-Go menus Again, I wanted to keep it simple. In my opinion, from the grocery list to packing as fast as possible in the morning to the ease of putting it together once at work, mainstreaming it was the key to success. I wanted items that were not only healthy but would also help keep me full for a long time. I decided to focus on a few key ingredients that would help multipurpose several options and were things I use in my daily life for snacks or other recipes at home. Here are the menu items I came up with: · Banana blueberry muffins · Muffin Tin Eggs · Scrambled egg sandwiches · Cereal in a bag · Prepackaged oatmeal and peanut butter · Breakfast burritos · Egg Bake · Yogurt Parfaits The main ingredients list (grocery list items): · Bananas · Frozen Blueberries · Eggs · Ham (lunch meat slices) · Tator Tots · English Muffins · Bagels · Cereal · Oatmeal · Pre-packaged Oatmeal · Soft Taco Shells · Yogurt · Granola Prep ahead of time Again, one of the main keys to making all this work ahead of time is carving out about an hour over the weekend to prep ahead of time. This includes thinking through what items you want to make/take throughout the week. Then, making/baking or organizing those items for an easy morning grab-n-go. Banana blueberry muffins These take about an hour from start to finish (bake time included) for this recipe. You can make it as a bake as the recipe calls for, or we pour them into our muffin tin for easier grab-n-go in the mornings. Kids love these, and they are super simple to pack. *Note* these do need to be refrigerated. Muffin Tin Eggs This breakfast idea is actually a throwback to one of my roommates in my early 20s. We both traveled a lot for work and would make these for “Fun Breakfast Fridays.” They are great on their own, or add them to a bagel or English muffin for a fast breakfast sandwich (other ideas for this are below, too!). We liked to line the tin with a piece of lunch meat to add some more protein and added cheese on top. Or scramble it, add veggies, and make a mini omelet on the go. Scrambled egg sandwiches Again, use the muffin tin egg noted above and compile them with your favorite bagel and cheese slice while at work. Or if that isn’t an option, compile them at home, wrap them in press-n-seal, freeze them, and warm them up on a plate once at work (or before you leave the house to eat in the car). Cereal in a bag It's super simple prep. All you need is a lunch baggie and a water bottle. Portion out your favorite cereal in a lunch baggie, pour your desired amount of milk into a water bottle and head out the door. This can be done the morning of, or again, for grab-n-go, take a few minutes over the weekend to prepackage everything out. *Just make sure you have a bowl and spoon at work or pack one if needed! Prepackaged oatmeal and peanut butter Usually, I do not encourage purchasing prepackaged convenience meal options, but I see the benefit in this case. I grab the prepackaged instant oatmeal bag and my jar of peanut butter and have a fast, healthy breakfast. I use the hot water from the coffee machine at work or the microwave to warm up the water. Breakfast burritos This idea has been a favorite of mine to use leftover roasted veggies (potatoes, onions, sweet potatoes, carrots, and broccoli, to name a few). If I don’t have any leftover veggies, tater tots it is! I warm those up in the microwave and scramble an egg in a bowl that I bake in the microwave (yes, this is really a thing!), add it all together in a soft taco shell, and top with my favorite hot sauce I grab from the pantry at home. Egg Bake An egg bake is more than a Sunday morning brunch option. It’s a “middle of the work week, cut a square and go” lifesaver. Again, you will need to spend some time prepping and making this breakfast option over the weekend, but if you do, you’ll have more than a week’s worth of breakfast goodness with minimal work-week effort. Yogurt Parfait Let me preface I do not take the time to layer this. I scoop a spoonful or two of my favorite flavored Greek yogurt, top with some frozen berries (or fresh if we have some and they need to be used up) the night before in a spillproof container, and baggie up some of the granola to top in the morning once at my desk. Make it fast. Make it simple. Make it Easy. Hopefully, these ideas help make your morning routine a little easier so you are actually able to eat breakfast and help you avoid getting too “hangry” before lunch starts. Also, I want to note all these items can be used for easy breakfasts at home, too! They do not need to be working hours or office locations specific! Take these ideas and see how they can fit into your grocery lists and meal planning to help save on your budget. If you want to talk to someone about budgeting, we have a financial coach who specializes in making your money work for you by helping you create a budget to fit your lifestyle. Schedule a meeting today to see how this could benefit you.

We truly are blessed in America. A phrase we often say but it's meaning takes on a crisper form when you can compare how easy our lives are vs those that live in the midst of chaos and conflict every single day. Running to a bomb shelter is foreign to any American child but is standard operating procedure for children in Israel. On the morning of Saturday, October 7, Hamas launched a surprise attack on Israel killing hundreds and plunging the region into further conflict. Israel immediately declared war on Hamas, responded with air strikes, and called up 300,000 army reservists. The U.S. and many U.N. Security Council members have condemned the attacks by Hamas, which is designated a terrorist organization by many major countries, and are providing assistance to Israel, including the positioning of a U.S. aircraft carrier in the Eastern Mediterranean. The situation is evolving, and we all hope for a return to stability in the region, and especially for the continued safety of civilians and any friends and family that might be impacted. The impact of regional wars on markets depends on the economy Without minimizing or trivializing the severity of this conflict, especially the humanitarian consequences, many investors will naturally have questions and concerns about the impact on markets in the coming weeks. What does history tell us about regional wars and their implications for markets and the economy? Unfortunately, for long-term investors, geopolitical risk is unavoidable. Headlines on regional and global conflicts are alarming since they involve violence and the loss of life, and are therefore unlike the typical flow of business and market news involving earnings, valuations, and mergers and acquisitions. These events are also difficult to analyze and their outcomes challenging to predict. As a recent example, many of the predictions around Europe's access to oil and gas following Russia's invasion of Ukraine, fortunately, did not play out. So, while short-term traders may be tempted to guess the direction of oil prices, the S&P 500, and interest rates, it's often better for long-term investors to hold a properly diversified portfolio and stay level-headed as events unfold. Calling the history of the Middle East complex would be a vast understatement, making the current situation even more difficult for investors to analyze. Many diplomats have spent their entire careers attempting to broker peace, countless volumes have been written on the subject, and decades, if not centuries, of ethnic and religious history complicate relations between the region's nation-states. At the risk of oversimplifying matters, the numerous attempts at achieving peace by the U.S. since the mid-twentieth century have been largely unsuccessful. While the Camp David Accords in the late 1970s and the Oslo Accords in the 1990s did improve relations and helped to end conflicts at the time, violence has erupted many times over the past decade. Over long periods of time, markets have recovered from geopolitical conflicts From the perspective of investors, it's always important to separate feelings and beliefs around politics and global matters from portfolio decisions. As the first chart above shows, the impact that wars have on markets varies depending on the business cycle. Some events such as 9/11 and the ensuing wars in Iraq and Afghanistan were met with market declines. This was because these events coincided with the dot-com crash which, while unrelated, required years to stabilize. In contrast, most of the conflicts since the 2010s, including wars in the Middle East, the annexation of Crimea by Russia, and the on-going nuclear threats in North Korea and Iran, were against the backdrop of an expansionary economic cycle. While some of these periods experienced market declines over the following three to six months, economic growth tended to lift markets higher over longer time horizons despite geopolitical uncertainty. The history of strong bull markets in the 20th century across World War II, the Vietnam War, and the Cold War further underscores this point. Of course, last year's invasion of Ukraine by Russia is still ongoing and, so far, markets have not yet recovered their previous peaks. Again, this is largely due to the interaction with other economic forces, namely rising inflation, supply chain disruptions, and elevated market valuations following the pandemic. One direct impact of the Ukraine war and uncertainty in the Middle East is on energy prices. Oil prices did jump following the recent attack on Israel, with Brent crude rising from $84 per barrel to above $87, partially reversing the decline over the past two weeks from a high of about $97. However, this pales in comparison to the sharp rise in oil last year when prices approached $128. There was little direct impact on oil when Russia annexed Crimea in 2014, and even the 2019 drone strikes against Saudi Aramco by Iran and others, which knocked out 5% of global oil production overnight, saw only a short-lived reaction in oil markets. Thus, the impact on energy prices from Middle East conflicts is far from a sure thing. Oil prices have risen following the attack on Israel Perhaps the broadest implication for investors is the idea that markets depend on global stability, the rule of law, and business/consumer confidence. Regional conflicts, especially those that involve the United States and its allies, increase the "risk premium" on financial assets because the future becomes more uncertain. This uncertainty is the idea that even the possibility that markets and businesses could be affected is enough to hurt investor confidence. This is why many investors tend to focus on questions around global dynamics as the world shifts from the U.S.-centric, unipolar world since World War II to a multipolar one. Consistent GDP Growth Despite Regional Geopolitical Events Within a segment of our portfolios at Whitaker-Myers Wealth Managers, we have a tactical allocation to Israel within our international exposure. This is born out of the mindset that within international investing, alpha can be generated by strong and prudent country selection. We believe in Israel for many reasons, which can be tied back to their strong birth rates, consistent GDP growth despite having to run a security state because of their geographic placement in the world, being a beacon for democracy in the Middle East, where the normal is authoritative dictators killing in the name of a false god. Their economy is exciting and built for the future. Some of the sectors they have specialization in are technology, healthcare, defense, and financials. Have you ever wondered where the USB flash drive comes from? You guessed it - Israel. Israel has the nickname "start-up nation" because of its long history of innovation. With a young, highly educated workforce and a world-class technology industry, we see them being a heavyweight in the international markets for years. According to Van Eck, our provider on the ETF side, gaining our client's exposure to Israel's economy, the key strength to this economy is demographics. As is the common phrase, "Demographics equal destiny in terms of your economy." Van Eck goes on to point out, "Israel has one of the youngest and most educated populations amongst developed market countries. In 2022, 28% of the population was under the age of 15, with 60% of the country's population falling within the work age range." We remain firmly committed to our tactical allocation in Israel for all these reasons and more, despite the events that transpired over the weekend. Many of these issues are deeply challenging and often theoretical. As such, their impacts on markets, the economy, and corporate activity are far from certain. History shows that it's a mistake to make dramatic shifts in portfolios in response to geopolitical crises. Properly diversified portfolios, especially those built around long-term financial plans crafted in partnership with a trusted advisor, are designed to handle exactly these periods of uncertainty. None of this is to dismiss or detract from the severity of the conflict in Israel, especially from a humanitarian perspective. While the situation will be closely watched as events unfold, investors should avoid overreacting with their portfolios. The bottom line? While the hope is for stability in the Middle East, investors should maintain perspective when it comes to their portfolios. History shows that it's often better to hold onto a diversified, properly constructed portfolio than to try to time the market due to geopolitical events. So, while the war should have no impact on our investment decisions, let's commit to praying for the nation of Israel, the safe return of all those taken from their homeland, and the repentance of the wicked people inflicting this harm and their turning to the one true God, the God of Abraham, the God of Issac, the true Yahweh. Copyright (c) 2023 Clearnomics, Inc and Whitaker-Myers Wealth Managers, LTD.. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, or correctness of the information and opinions contained herein. The views and the other information provided are subject to change without notice. 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By a mile, the most asked question I get is, "am I ready to retire?" Retirement is technically the single largest expense you'll ever make in your life, even though in reality it is a series of many, many single different decisions one must make. And if I had to guess, the second most asked question I get is, "How do I save money on taxes?" That would then be followed somewhere in the top ten, I would like to own real estate, other than my primary residence one day, "How do I do that?". I wonder if there is a transaction that combines elements of all three: smart retirement planning, tax reduction on income, and private real estate ownership? One such answer (of many) could be the sale-leaseback arrangement within families. As we age, our financial needs and priorities often shift, especially for elderly individuals who may be living on a fixed income or have accumulated substantial home equity. One innovative financial option that elderly clients and their families could consider is a sale-leaseback arrangement. This unique financial tool offers several benefits for seniors and their loved ones, providing financial stability, peace of mind, and the opportunity to enjoy their golden years to the fullest. What is a Sale-Leaseback? A sale-leaseback is a financial transaction in which an individual, typically an elderly homeowner, sells their property to a third party, many times a family member like a child, and then leases it back immediately. In essence, they become a tenant in their own home. This arrangement allows the homeowner to access the equity tied up in their property while continuing to live in the same place. Many times the lease allows the tenant the right to live in the property for the rest of their life. Here are some of the common reasons why elderly clients might consider a sale-leaseback with their family: Unlocking Home Equity One of the most significant advantages of a sale-leaseback arrangement is that it provides immediate access to the equity built up in the property. This can be a valuable source of funds for seniors who have limited income and substantial home equity but do not want to sell their home outright. These funds can be used to cover healthcare costs, home improvements, travel, or to enhance their quality of life in retirement. Additionally, this extra cash can help with the sequence of return risks that so often create havoc for retirees during their golden years. For example, someone who is unlucky and must start withdrawing their portfolio right into a negative market that takes too many years to recover from would face the unfortunate reality that they are withdrawing funds at -10%, -20%, -30% values that can lead to much faster depletion of assets than would otherwise be realized. Hopefully, your Financial Advisor has hedged your portfolio in a way to help offset some of this risk but it is still a reality for most retirees. Financial Security For many elderly individuals, the cost of maintaining a home can become burdensome. Property taxes, maintenance, and unexpected repairs can strain a fixed income. By selling their property and leasing it back, seniors can free themselves from the financial responsibilities of homeownership. They can budget more effectively, knowing exactly how much they'll pay in rent each month, which can provide a greater sense of financial security. Aging in Place or Emotional Ties to Property Seniors who are emotionally attached to their homes may be hesitant to move to assisted living or other retirement communities. A sale-leaseback allows them to continue living in the comfort of their own home while also providing access to funds they may need for in-home care or renovations to make their living space more accessible as they age. Many families have had properties that for generations have been in the family. If this is the case the sale-leaseback scenario provides a confirmation, should the property be sold to a member of the family, that it will remain in the family for another generation. Simplified Estate Planning A sale-leaseback can be an excellent estate planning tool. By converting home equity into liquid assets, individuals can ensure a smoother transfer of wealth to their heirs. It can also help reduce the complexity of estate planning by simplifying the division of assets among beneficiaries. Tax Advantages In some cases, a sale-leaseback arrangement can offer potential tax benefits. It's essential to consult with a tax advisor, like our in-house CPA Kage Rush, to understand how this option may impact your specific financial situation. Let me give a quick example of how one might benefit from the sale-leaseback, within a family structure Example - Susie (Mother) & Johnny (Son) Susie who is 80 and a widow owns a $200,000 home. She also has a $2,000 monthly Social Security benefit and $300,000 in investment assets. She needs $4,000 / month which he investments and Social Security comfortably provide for her. She decides it would be in her best interest to sell her home to her son Johnny who will rent the property back to her for $1,500 / month (not quite market rent because a standard rule landlords will use is 1% of value, each month) but hey, it is Johnny's mother. Now Johnny, as the property owner will handle all the maintenance and upkeep going forward for his mother. Johnny is a Dave Ramsey and Ramsey Solutions fan so he has the cash and purchases his mother's home with no debt. If Susie were to earn 5.50% on those dollars (current yield on a 6-month Treasury bond) received from the sale of the home, the money would pay for the rent for 17 years or until she is 97. If she took more risk and built a structured note with a 50% S&P 500 Protection on the principal and 40% protection on the coupon payments, with a European style execution (which means she receives a loss if the S&P 500 is down 50% on the contract end date typically 5 years in the future), those typically pay around 8.00% and it would last somewhere around 27.5 years. Every investment decision should be made with the help of a qualified investment professional and with a full understanding of your entire financial situation Johnny receives the $1,500 but is able to depreciate the value of the property, write off the expenses, and also possibly have other business write-offs for expenses while managing his mother's property. If his mother had lived to 97 then he would have been paid $309,000 ($200,000 plus the interest it earned at the 5.5% rate), some of it not taxable because of the right-offs and he would own her $200,000 house that could have appreciated to $281,000 (2% appreciation rate). As a general rule, investment properties that take deductions have that reflected in their cost basis, so Johnny may have to pay the taxes back when he sells the property unless he does a 1031 exchange, which I have written about in the past. As mentioned above, I am not a tax advisor or CPA, thus we would highly recommend you discuss everything mentioned above with your tax professional. Flexibility Sale-leaseback agreements can be customized to fit the needs and preferences of the elderly client and their family. The terms of the lease, including the duration and monthly rent, can be negotiated, providing flexibility and peace of mind. But this also provides one of the greatest risks of a sale-leaseback transaction as well. The IRS will more than likely audit a transaction like this involving family members. Thus one should use excellent legal counsel, a trusted realtor to ensure proper value is given to the buyer and seller and your tax professional, whom will most likely be helping you when the IRS comes knocking. Another possible drawback could be that some states provide a spouse that enters a nursing home the ability to not have to use all their assets before Medicaid kicks in, so as to not improvish the non-nursing home-bound spouse. The husband goes into the nursing home and you don't want the wife to be left with nothing if the husband stays there too long. Many times it's a level of assets and the primary residence however if there is no primary residence because those assets are now in a liquid form (investments, savings, checking) then it would require the remaining spouse to not have a home that was paid for and providing housing utility for them. All this to say, I'm not an estate planning attorney nor an elder law attorney, so as discussed above, one should consult the entirety of their professional advisor team before making such large financial decisions. For elderly clients and their families, a sale-leaseback arrangement can be an attractive financial option that offers multiple benefits along with some drawbacks. It allows seniors to access their home equity, provides financial security, and enables them to age in place comfortably. Additionally, it simplifies estate planning and offers flexibility in tailoring the agreement to individual needs. However, it's essential to approach a sale-leaseback with careful consideration and seek guidance from financial advisors and legal professionals experienced in such transactions. While the benefits can be substantial, it's crucial to thoroughly understand the terms and potential implications before entering into a sale-leaseback agreement. With the right guidance and planning, this innovative financial concept can help elderly clients and their families enjoy a more comfortable and financially secure retirement.

As we head into Fall Weather, Football, Halloween, and the holidays, we are getting close to the 2023 Tax Filing Season. As this time of year seems to fly by, we at Whitaker-Myers want to ensure you are as financially prepared as possible. Within the Whitaker-Myers Group, we have an extension focusing primarily on tax advisory services. This article will discuss some items to review before year-end to prepare for a smooth, stress-free 2023 tax filing season. Reviewing Pay Stubs It is important to review paystubs to ensure proper withholding at work. Significant pay increases or changes to dependents can affect your tax withholding and cause you to under-withhold at work. Under-withholding at work can lead to surprise tax bills when it comes time to file in 2024 and can put households under unnecessary stress. I recommend consulting with a tax preparer to verify if you still qualify for the child tax credit or other credits you have previously claimed. By taking these steps – you can catch the under-withholding early and start planning how to fix the withholding before the tax filing. Reviewing Contributions Another essential year-end tax item to review is contributions to your retirement accounts (Roth IRA, Traditional IRA, 401(k)s, etc.). You want to ensure your retirement contributions to a Roth IRA are still allowed under normal circumstances. If your income in 2023 is above $218,000 for married filing jointly or $138,000 for single, your allowable contribution to a Roth IRA starts to be reduced. It is completely phased out at $228,000 for married filing jointly or $153,000 for single. If you end up over-contributing to a Roth because of income limits, detecting this early can help your Financial Advisor and tax preparer rectify the problem before filing the tax return. Failing to watch this can result in interest and penalties by the IRS. If you are contributing to a 401(k) – You can review your contributions to see how close you are to maxing out your contributions if you want to take advantage of that. New Financial Situations The most important item on this list is to discuss any abnormal financial situations with your preparer before year-end. Financial situations that can be considered abnormal can be selling your home, having any debt forgiven, starting a small business, investing in rental properties, opening up new investment accounts (IRAs, brokerage accounts, or money market), and receiving proceeds related to an inheritance. These financial situations can lead to new filing requirements with your tax return that you may not have had in any previous tax year. Meet with a tax advisor, and they can clarify for you what items they need to report the transaction properly on your tax return and help you plan for the tax ramifications of the transaction. Setting yourself up for a successful tax-filling Doing the above items will make you more informed about your financial situation and help you prepare for a smooth tax filing season. At Whitaker-Myers Tax Advisors, we pride ourselves on being there for all of our client’s tax questions and giving them peace of mind when navigating the complex tax environment. If you would like to schedule a tax consultation with CPA Kage Rush, please don’t hesitate to contact your financial advisor at Whitaker-Myers Wealth Managers or email Kage directly to schedule a meeting.

Timing the market refers to moving funds in or out of a financial market based on predictive methods. Active investors, who day trade and try to time the market, argue that they can receive additional gain compared to long-term investors. This is due to them making market-timed exits. These exits are not easy, and because of that, many active traders tend to underperform investors who remain invested. Make the change today, not tomorrow Timing the market is especially ineffective when investing for the long term. When funding our retirement accounts, we want to put money IN the market consistently. If we have a fixed contribution of $100, then some days, that dollar amount will buy us more and some days less, depending on whether the market is up or down. A bad habit to get into is pulling money out of the market and waiting for the “perfect” time to get back in. This causes you to lose potential gains had you been in the market. Charles Schwab said, “Sometimes my mistake has been hesitancy about acting on the decisions I’ve made. When’s the best time to invest? It’s today, not tomorrow.” Being in the market often and consistently William Sharpe, an American economist and Noble Prize winner concluded from his studies that an investor using a market-timing-based strategy would need to be right 74% of the time just to beat the benchmark portfolio of similar risk annually. That is a high mark to meet, especially when dealing with something as unpredictable as the market. If the task of timing the market is challenging for even the brightest of “market-timers,” then we as investors need to stick to our guns of consistently getting in the market. We can invest effectively by diversifying our portfolios and adjusting based on goals, retirement timelines, and life changes. More time in for more reward History has shown that the longer the time frame of investments — the higher the chance of a positive outcome. If you look at the past 94 years of the S&P 500 (through Dec. 31, 2022), 94% of 10-year periods have been positive. This number decreases significantly if you look at this over one year. One-year periods have a positive outcome of 73% and a negative of 27%. Fluctuations in the market are a guarantee. The key to success is our time IN the market and not trying to time the market. In the Ramsey Solutions National Study of Millionaires, 3 out of 4 millionaires said that consistently investing leads to success. Emotions tend to follow suit when the market seems to be going haywire. It is easy to want to pull money out and wait for that “perfect” time to buy in. However, the best time to put money in the market is when you have it. Your investment strategy is based on you and your needs. The best way to meet those needs is with consistency and making intelligent adjustments along the way. If you have questions about what is happening in the market or how it affects your situation, contact one of our advisors to help answer any concerns you may have. Source: Market Timing: What It Is and How It Can Backfire (investopedia.com) Stock-Yo-Yo.pdf (crestmontresearch.com)

Ohio recently expanded the EdChoice program to allow families of all income levels to apply for some scholarships to be used in grades K-8 and 9-12. The program provides state-funded scholarships to K-12 students who meet the eligibility criteria. The scholarship must be used to attend private schools that meet the requirements for program participation. You can find a complete list of the schools in your county by clicking the link here and selecting your county from the dropdown menu. Scholarship limits For 2023, the maximum voucher a family can qualify for in grades K-8 is $6,165, and for 9-12, $8,407. This maximum voucher amount is reduced as household income increases. Those in the highest bracket can only receive a maximum of $650 for grades K-8 and $950 for grades 9-12. The voucher amount is based on household income and the percentage above the federal poverty level. The federal poverty levels are adjusted for family size. You can find a complete breakdown of this in the chart below. Income brackets Use your household income and family members to find out your maximum voucher. Then, divide that number by the poverty guideline to get a percentage. For example, for a family of 4 making $140,000 a year, $140,000 / $30,000 is 4.66. Convert to a percentage, 466%, and use the following chart to see what voucher you would qualify for. So, in the above example, the family would be eligible for $5,200 for grades K-8 and $7,050 9-12. Anyone under 450% qualifies for the maximum voucher. Here is another chart that displays the scholarship eligibility based on income and family size: Applying for the Ohio EdChoice Scholarship If you meet the eligibility requirements and have chosen a school, you must complete a scholarship request. The process may vary by school, so check with the school Principal to be sure, but a general guideline of the application process is as follows: · Verify your income on the Ohio Department of Education’s website. Use the document below to guide you through the income verification process · Complete the EdChoice Request Form Application – your school will be able to get you this application. · Have a copy of your utility bill that shows your name, mailing address, AND service address. EdChoice is particular about it being a utility bill that lists mailing and service addresses. · Have a copy of your child’s birth certificate The application, utility bill, and birth certificate will likely get submitted to the school, and they will submit it to Ohio EdChoice, but just check with them on the process. Then, you must wait for mail confirmation from the Ohio Department of Education regarding the scholarship decision and/or if there are any issues in verifying your income and/or eligibility. Your school will also be notified. Qualifying for the Scholarships If you are close to reaching one of the income breakpoints and have access to an employer-sponsored plan, you may want to consider contributing pre-tax dollars to lower your yearly income. This will impact your annual income and scholarship eligibility for next year and might be a good option, especially if you have multiple children receiving the voucher. Your Financial Advisor would be happy to discuss this with you in more detail if you have any questions that are specific to your situation.

When searching for a Financial Advisor, here are some key things to look for Looking for a Financial Advisor can be a long and overwhelming process, from people trying to push Whole Life policies to advisors not returning your phone calls. To help make your search easier, here are a few simple questions to ask the Financial Advisors you are interviewing. What are the account minimums at your firm? Here at Whitaker-Myers Wealth Managers, it is an integral part of our mission to help people as they start the wealth-building process. This is one of the reasons why we use Charles Schwab as our custodian; they do not require minimal account balances or have fees associated with smaller accounts. This allows you, as a client, to open accounts starting at a $0 balance to slowly build that Roth IRA over time to help you win, just like the Tortoise over the Hare. It would be inconsistent with Dave Ramsey’s philosophy for us to say, “Now that you are on baby step 4, take $10,000 from your emergency fund to start your investments.” Are you a Fiduciary? This is an important question that many financial advisors try hard to avoid or downplay the answer to. For example, some financial advisors will claim to be fiduciaries, but they mean they are fiduciaries with financial planning. That means they try to keep your best interest in mind while building your financial plan. However, when they go to manage your money, they are putting you into funds that provide them with profit sharing or using proprietary products (funds that are developed by the company that is helping you manage your funds.) We do not use any of those funds or products at Whitaker-Myers Wealth Managers, which means we avoid that conflict of interest. Being a fiduciary is the highest standard in the industry, so the Financial Advisor you are interviewing must always be a fiduciary. How do you get paid? This is something you want to make sure your advisor can easily explain. At Whitaker-Myers Wealth Managers, we keep it simple and transparent. We charge based on a percentage of the assets managed, and that percentage only goes down the more you have, thereby making us more efficient as a firm. This fee structure is essential because it aligns the advisor's and client's interests, incentivizing the advisor and their team to grow your assets over time. Your success becomes your advisor's success, putting us on the same team. How do we communicate, and how quickly can I expect a response? Technology has dramatically enhanced our ability to communicate with clients. At Whitaker-Myers Wealth Managers, we try hard to make it easy for clients to communicate with us. When you do reach out, we strive to respond within the same business day, but if we cannot, for some reason, we will respond as soon as possible the following day. You can also access our online calendar on our website and schedule meetings with us at your convenience. How do I know what you are doing for us? This is an important part of our Whitaker-Myers Wealth Managers philosophy, which our Chief Investment Officer emphasizes. We provide you with weekly blog posts written by our team, also sent in our “Better Than I Deserve” newsletter. Most importantly, John-Mark Young produces a weekly video with a market update in the “What we learned in the Markets” video, and Amanda Sharratt produces a “Question of the Week” video answering a question from one of our clients. What do you provide to allow me to track the progress of my portfolio? A benefit to using Charles Schwab is that they provide you, the client, with a helpful app for your phone that allows you to track the daily progress of your account. If you make a contribution, you can know that we got it in the market within a timely manner, and it’s not just sitting 100% in cash missing the growth or ability to buy at a sale. In addition to Charles Schwab, we provide you with Morningstar, a 3rd party research firm. Morningstar provides you with a monthly report of all of your accounts. If you are married, you and your spouse’s accounts will be combined into one report. Not to mention, Morningstar also provides you with research on the funds we have in your portfolio to make sure we are not putting you in 1 or 2-star funds. We are happy to help We understand that finding a Financial Advisor you can trust can be an overwhelming process, but hopefully, this article has provided some helpful questions to ask when you are interviewing. If you want to discuss your financial questions, one of our Financial Advisors would happily help.

The National Bureau of Labor Statistics did a study in August 2021 looking at the number of jobs that people born between 1957 and 1964, essentially baby boomers, held from age 18 to 56. The report can be found and read here. Any guess on the number of jobs over a person's working lifetime? 12.7 - that's right, 12.7 jobs over their working career. To be fair, half these jobs were held from ages 18 to 24 when you're still trying to figure your place in this world. But that still means during the heart of their career, most people in this age range switched jobs 6 times. Do you think this will get any better with the current generation? Every one of these job changes creates a series of business transactions that one must think through. New benefit plans, new payroll cycles, new routines, and getting all the business from your former employer wrapped up. The least of which is your former employer's retirement plan. Although individual circumstances must be reviewed, many times, people opt to roll these former employer dollars into their IRA or Roth IRA, depending on the tax treatment of the monies. By the time you do your last rollover, this may feel routine however, the rollover prior to retirement (or around retirement) may be more critical if something called Net Unrealized Appreciation "NUA" is applicable to you. (Note - to be clear NUA can be taken advantage of not just at retirement but for purposes of this article, let's assume that's the most beneficial time to do so). What is Net Unrealized Appreciation (NUA)? NUA is a tax strategy that allows individuals to take advantage of potential tax benefits when distributing employer-sponsored retirement plan assets, typically company stock, from their 401(k) plan. This strategy applies when an individual holds employer stock in their 401(k) plan and is planning to roll over their 401(k) balance into an Individual Retirement Account (IRA) upon retirement or job change. The key concept behind NUA is to differentiate between the two components of your company stock within the 401(k): Basis: The original cost of the employer stock when it was purchased within the 401(k). Net Unrealized Appreciation: The difference between the current market value of the employer stock and its original cost or basis. Let's use a quick example: Johnny works for Tesla. When he started with Tesla in 2018 he bought stock in the company 401(k) plan through 2018 and 2019 but was worried about it becoming too large of a position in his 401(k) (not to mention the stock options he received) so after 2019 he continued contributing to his 401(k) but just allocated new dollars in other mutual fund options available in the plan. Johnny acquired 1,000 shares of Tesla, over the time his contributions went into Tesla stock inside of the plan, and the average price during that timeframe was $20.00 / share, so let's assume that was his average purchase price. Johnny would have a basis in his Tesla stock of $20,000. Then Johnny continued to work for Tesla over the next five years, and here is what happened to Tesla stock over that time frame. So today, Johnny has 1,000 shares, and the closing price is $244.45, thus, it has a market value of $244,450. That means our friend Johnny has net unrealized appreciation of $224,450 (Current Market Value - Basis). Why Consider Using NUA? Using the NUA strategy can offer several advantages for those with substantial employer stock holdings in their 401(k). Here are some compelling reasons to consider NUA when rolling over your 401(k): Tax Efficiency: Perhaps the most significant benefit of NUA is its potential to lower your overall tax liability. When you use the NUA strategy, you are only taxed on the cost basis of the employer stock at your ordinary income tax rate, at the time of the rollover. The NUA itself is taxed at long-term capital gains rates when you decide to sell the stock. In our example above, if Johnny decided to execute an NUA he would be taxed on the $20,000 (cost basis) at his ordinary income tax rate, but the gain would not be taxable until he sold and would be taxed at the capital gains tax rate. Long-term capital gains rates are 0%, 15%, and 20%, while federal income tax rates are: 10%, 12%, 22%, 24% 32%, 35%, and 37%. Estate Planning: NUA can also be advantageous for estate planning purposes. When you pass away, the NUA stock is included in your taxable estate at its current market value, potentially allowing your heirs to receive a step-up on the basis of the gains of the stock after the NUA was executed. This means any gains earned after the NUA would likely be tax-free to your heirs. However, any unused NUA gains would be treated as "income in respect to a decedent" and would still be taxed at a long-term capital gains tax when eventually sold by your heirs. Lower Required Minimum Distributions: Considering that an NUA strategy has you allocate the company stock dollars into a taxable brokerage (or bridge account as Dave Ramsey calls them), these dollars are no longer in your IRA, which is subject to a required minimum distribution somewhere between age 73 - 75 (depending on when you were born) and every year after. Required minimum distributions, if not properly managed, can push clients into higher tax brackets later in life, even creating issues where it would make Social Security and Medicare taxed at higher rates. How to Implement NUA To take advantage of the NUA strategy, you must follow specific rules and procedures: Qualifying Employer Stock: First, ensure that the stock held in your 401(k) qualifies for NUA treatment. It must be employer stock of your current or former employer. Distribution of Stock: Instead of rolling over the entire 401(k) balance into an IRA, you should request a distribution of the employer stock in-kind. This means that the stock itself is transferred to a taxable brokerage account in your name. Taxation: You will be taxed on the cost basis of the employer stock in the year of distribution at your ordinary income tax rate. The NUA itself is deferred until you decide to sell the stock, at which point it will be taxed as a long-term capital gain. IRA Rollover: After the distribution, you can roll over the remainder of your 401(k) balance into a traditional or Roth IRA. The NUA portion remains in the taxable brokerage account. Selling the Stock: You can sell the employer stock at any time, but it's essential to consider your tax situation and financial goals when deciding when to do so. Should You Consider NUA? Certified Public Accountant (CPA) at Whitaker-Myers Tax Advisors Kage Rush reminds clients, "While you should never let tax implications and decisions be the only factor when making investment decisions, some general considerations make NUA attractive to certain individuals." If you can answer yes to these conditions below, you may be a good candidate: Are you 59 1/2 (doing so before may open you up to a 10% early withdrawal penalty)? Are you taking Required Minimum Distributions soon? Is your current tax rate similar (or lower) to what it'll be in retirement? Will doing an NUA give you a compliment of tax-diversified assets (taxable, Roth, pre-tax IRA)? NUA Tax Treatment Rules There are some general rules you must follow to ensure that the stock moved into the taxable brokerage account is treated with the NUA rules. If not followed, this can cause your NUA election to be disqualified by the IRS, thereby making the entire distribution taxed at ordinary income tax rates. If you'd like to spend time in the weeds of the IRS publication like Kage and I have to write this article, you can visit that here. Below is a summary of the rules: You must have reached one of the following: A. Separation of service from the company with whom the stock is held. B. Death C. Disability (but this provision only applies to self-employed workers D. 59 1/2 - The typical retirement age or in-service withdrawal age for most plans 2. The entire vested account balance must be distributed within one year. Considering that the NUA transfer may happen first, you don't need to make the entire account distribution in one transaction, it just must be gone within one year. 3. You must distribute all assets from all qualified plans from the employer. This is even if any other plan at the company didn't hold company stock. 4. The transfer to the taxable brokerage must go in actual shares. You can't have the stock sold and turned to cash (and subsequently repurchased). Conclusion Net Unrealized Appreciation (NUA) is a valuable strategy for individuals who hold employer stock within their 401(k) plans. According to an article published by Fidelity in February of 2023, nearly 2 million of their customers hold stock in 401(k) or other workplace retirement plans. By understanding the potential tax advantages, diversification benefits, and estate planning possibilities that NUA offers, you can make an informed decision when rolling over your retirement savings. However, NUA is a complex strategy with tax implications, so it's crucial to consult with a financial advisor or tax professional before implementing it to ensure it aligns with your overall financial plan.