It’s a rainy Sunday, and there’s not much to do – no swimming, no basketball with my son, and we just enjoyed a wonderful lunch at The Great Grill Off supporting The Christian Children’s Home of Ohio, so I’m doing what I normally do, when there’s not much to do, thinking about retirement! Specifically because of the weather – where to retire! My friends at Ramsey Solutions wrote an article about the top 14 cities to retire in February of this year. Their data was based on things you’d expect them to consider, such as cost of living, quality of life, tax rates, housing costs, quality of healthcare, and climate. Of course, Florida towns dominated the list, which is wonderful. However, the state with the second most cities that were deemed best to retire into was the great state of Texas. Now I have a heart for Texas because my wife was born there and spent part of her youth there. We make the trek back to Texas as a family every few years, and I’m regularly there visiting clients and potential clients since we are a SmartVestor in Dallas, Austin, and San Antonio. Part of our job as Financial Planners and Advisors is to help you make your money last throughout retirement while making the most effective use of those dollars. For some, this may mean relocating once your career has come to completion. For others, because their children have relocated to parts of the west coast, they’re looking for means to create a closer connection with their kids and grandkids. If this is you, Texas may be an appropriate option for you. Nearly 1,000 people are moving to Texas daily, making it an increasingly popular option for seniors looking to spend their golden years in a warm and welcoming environment. With a low cost of living, favorable tax laws, and abundant recreational activities, Texas has much to offer retirees. This article will explore some of the benefits of retiring in Texas. Low Cost of Living A favorite saying of mine is this: “Retirement is the basic math equation of income = expenses.” Therefore, you can continue to save more to be in a position to generate more income or you can reduce expenses therefore putting less stress on the income side of the equation. This is one reason Dave Ramsey and Ramsey Solution’s plan is crucial for the retiree because debt can be a large expense, especially one’s mortgage. To this point, one of the biggest draws of retiring in Texas is the low cost of living. Housing, groceries, and healthcare costs are all below the national average. According to a recent Fidelity study, Texas has a cost of living that is 8.5% below the national average, and the average healthcare costs for a retired couple (two lives) come right in line with the average of around $430,561 during their retired years. Business Insider wrote a 2021 article titled “The 15 Best States to Retire for a Low Cost of Living in Your Golden Years” and ranked Texas as number 5, only behind Florida, Minnesota, Nebraska, and Ohio. They noted that Texas is very popular with retirees and affordable, minus the fact that you’ll need to pay more to purchase your property in the state because of its popularity. Favorable Tax Laws Another advantage of retiring in Texas is the favorable tax laws. The state has no income tax, meaning retirees can keep more of their retirement income. Florida (along with others) is a state known for their lack of income tax and they, like Texas, typically dominate the retirement destination choices, simply because of their wise decision to avoid taxation. Additionally, Texas allows for a Homestead exemption on real estate taxes, as long as the property is your primary residence and you have turned 65 on January 1st of the year you’re applying for the exemption. The exemption allows for as much as a $40,000 reduction in the value of your home. Meaning if my home were appraised at $300,000 and I qualified for a $40,000 exemption, then you will pay school taxes on the home as if it was only worth $260,000. You can learn more here at the Comptroller of Texas’s website. Mild Climate Texas is known for its warm and mild climate, which is perfect for retirees who want to avoid harsh winters. The state has plenty of sunshine, and the weather is generally pleasant throughout the year. This makes it an ideal destination for seniors who want to spend time outdoors and enjoy recreational activities such as golfing, fishing, and hiking. In the book, What The Happiest Retirees Know (ask your Financial Advisor for a free copy today if you’re a client of Whitaker-Myers Wealth Managers and retired or within five years of retirement), the author states that the happiest retirees have around 3.5 core pursuits. The least happy only engage in 1.9 core pursuits. Many of these pursuits involve activity and are outdoors. The problem with many northern states is that your ability to chase those core pursuits is much harder during the brutal months of December, January, and February. Wide Range of Recreational Activities Texas is a large state with diverse recreational activities for seniors to enjoy. Whether you enjoy spending time in nature or prefer cultural activities, Texas has something for everyone. From the beaches of the Gulf Coast to the rolling hills of the Hill Country, there are plenty of opportunities to explore and experience the beauty of Texas. A personal favorite of my family is Canyon Lake which sits in the hill country outside of San Antonio. You’d do yourself a favor to plan some time exploring God’s country up there – beautiful. Excellent Healthcare Facilities Texas has a thriving healthcare industry, with many top-rated hospitals and medical centers throughout the state. This means that retirees have access to high-quality healthcare facilities and services. Additionally, many medical professionals are choosing to relocate to Texas, which ensures that there is a large pool of doctors and specialists available to provide care. According to Newsweek’s, Best Hospitals in the World List for 2022, Texas has what they consider to be three of the best hospitals in the world in Houston Methodist Hospital, Baylor University Hospital and UT Southwestern Medical Center. Other states with as many or more were California, Illinois, Massachusetts, New York, and Ohio. Friendly People Texas is known for its friendly people. It's a state where people are welcoming and hospitable, making it easy for retirees to make new friends and feel at home. Additionally, Texas is a diverse state, meaning retirees can meet people from all walks of life. One needs to look no further than my beautiful wife, who hails from the great state of Texas, as proof that they produce some of the friendliest people in the world. In conclusion, retiring in Texas offers many benefits for seniors. With a low cost of living, favorable tax laws, mild climate, a wide range of recreational activities, and excellent healthcare facilities, it's no wonder that more and more retirees are choosing Texas as their retirement destination. Perhaps you have flexibility in how and where you can retire. If you do, you wouldn’t be unwise to choose a state like Texas. If you're considering retiring in Texas, be sure to explore all the state has to offer and find the perfect place to call home.

Vacation Mode With the weather warming up and the sun shining more, we all long for that next vacation. Whether heading to the beach for some sun and sand or loading up the RV for a trip to a National Park, we know the season for trips is among us. No matter the location, if you’re planning somewhere fun to head to during the summer – here are some simple money tips to consider while you prepare for that next vacation! Money Saving Tips and Tricks Budget Even though this is a vacation, create a budget beforehand and stick to it! If you have a plan, you can stay accountable for your spending. It is far too easy to overspend without a plan going into a vacation, so let’s start this trip on track! Be in control of where and how you spend your money. And *bonus* if you plan your budget months in advance, you can put money aside each month leading up to your vacation in a sinking fund, helping you save and not worry about how the additional trip will affect that month’s budget. Research Before heading out of town…research, research, research. With fluctuating gas prices, sometimes flying can be the cheaper option. That is not always the case, but sometimes. The best way to see which way to travel for you is most cost-effective is by looking up your desired flight, then comparing the price against the cost it would take to drive. Don’t forget to include any interstate tolls or overnight stays you may need when estimating the cost of the drive. Packing Be sure to pack the essentials. Most likely, wherever you’re headed, purchasing products like sunscreen, toothpaste, beach towels, etc., will all be more expensive once you get there. Figure out all the essentials you can bring to save on those extra expenses. Something as simple as bringing snacks in the car or your own water bottle on the airplane is a great way to save a few bucks. Excursions, Activities, and Day Trips In your vacation budget, plan out any day trips, boat rides, tours, shows, or any other activities you may venture into while on vacation. Once again, researching and knowing these prices can help you plan and stick to your budget. Staycations Most importantly, figure out what you’re capable of. You are allowed to say no. If a staycation is what you can afford this year, that is OK! Don’t get sucked into the comparison trap of watching others head south when this isn’t the year for you to make that happen. Instead, find ways to be content with what you have and where you are. Remind yourself of your financial goals! There is no need to get in debt because you’re trying to keep up with the Joneses. A staycation can still be a fun experience and a great way to save money. See what is open around you – museums, nature trails, farmer’s markets, zoos, etc. Most towns have a local Facebook page where you can see what is happening and what’s new or ask for suggestions from people in your area. Use this opportunity as a chance to explore your town. If you need to relax, take a break, or a total halt from everything going on – grill some food up at home and do an activity you enjoy but haven’t had the time for recently. Maybe it’s the woodworking project you are in the middle of, getting back into painting, spending some time out in the garden, getting some fresh air while exercising, or digging into a house project you have been putting off. Enjoying your time stress-free Vacations are meant to be a reprieve from work and be less stressful. Preparing a budget and sticking to it during your trip will give you peace of mind to relax and enjoy whatever vacation you choose, knowing you won’t be straining your finances to make it work. So, whether you are headed out of town or staying home, enjoy your time off this travel season! If you’d like to work with one of our financial coaches on creating a budget and seeing how you can plan for yearly vacations, contact one of them today for a meeting to get started!

Understanding the Costs of Daily Operations In recognition of Small Business Month, Whitaker-Myers Wealth Managers is partnering with our CPA and fellow small business owner, Kage Rush, to discuss the thought process and steps needed to open and continue to operate a successful small business or side hustle. Our first article covered things to consider when starting a small business, and our second article covered the different types of entities to consider when creating your small business. This article will discuss how to understand your business from a financial perspective better and how this understanding can help you in the day-to-day operations of your business. Reviewing Your Finances: The Reactive Approach Once the small business is up and running, entrepreneurs can become swamped with day-to-day operations and lose sight of their business’s financial side/health. Most often, entrepreneurs only look at the financials of their business for the following reasons: Filing their personal taxes during tax time Wanting to purchase a significant asset or employee hire Economic downturn has caused a cash flow issue in the business For the above reasons, entrepreneurs usually look at their financials from a reactive approach. This means the entrepreneur is looking at their financials because it’s tax season and there is a large tax due on their return, equipment breaks down in the business and needs to be replaced, or a sudden market change has occurred and caused an unplanned cash flow shortage in the business. The issues with using a reactive approach to the financial side of the business can be the following: We can’t go back in time to fix errors or spend money This approach can stunt the growth of your business You could lose opportunities to grow your business You could face unnecessary economic hardship Reviewing Your Finances: The Proactive Approach Successful entrepreneurs and business owners mostly approach the financial side of their businesses proactively. This means the entrepreneur is looking at their financials to plan for events to occur in the future, anticipate tax bills associated with their business profits, and try to factor current and future market conditions into their day-to-day business operations and long-term planning. The first step to taking a proactive approach to your financials is clearly understanding how your revenue/expenses are generated. Here are some questions to ask yourself about your revenue and expenses: How long does it take to get paid for services provided? For example, if it takes 30 days to receive payment for services provided to a client, you can expect services provided in February to be paid in March. When are my most significant expenses due, and what is the frequency of those expenses? For most owners, this could be payroll to employees paid monthly, bi-weekly, or twice a month. What causes a lag between services provided and payment received for services? How do you request payment for services provided? Do you request payment by just cash or check? Or do you provide ACH and credit card options? Do you bill for your services in advance, as the services are performed, or after the service has been completed? Completing step one is critical to understanding and growing your business because it can guide a small business owner to make decisions to improve their business model to collect payment faster from clients, offer additional methods of payment to improve cash flow, and adequately plan for expenses so you aren’t forced into a situation where cash flow is insufficient to cover the costs. Once you understand your revenue/expenses, you can create financial statements to help analyze your performance and strategize how to grow your business. Tools to use Two common financial statements used in a small business are a balance sheet and an income statement. A balance sheet looks at your assets (cash, accounts receivable, inventory, etc.) and liabilities and equity (accounts payable, loans, mortgages, net income, etc.) at a point in time (ex., May 31, 2023). An income statement reviews your revenue and expenses over a period of time (ex., May 1 to May 31, 2023). Both statements are suitable for evaluating your past performance and can be compared to a prior year, but they do not compare you to your current expectations. A third financial statement that can be used in your small business is a budget vs. actual analysis. An example of a budget vs. actual analysis statement would take your actual performance from May 1 to May 31, 2023, and compare that to what you budgeted for that same period. This can be useful for owners to know if the business is meeting their expectations set at the start of the fiscal year and if future expectations need to be adjusted based on actual performance. The keys to having a reasonable budget are the following: Your budget is reasonable based on market expectations, knowledge of the business, and past experience Your goals for the business are aligned with the expectations for the budget There are clear indicators for your budget that can guide success or failure Your budget is not static and can be adjusted as factors change, whether from external or internal sources Your budget has input from all sources of your company You have created a plan to implement your budget for your staff Small Businesses Impact I wanted to end this article with an interesting fact. According to the US Chamber of Commerce, there are 33.2 million small businesses in America (500 employees or fewer), which accounts for 99.9% of all U.S. businesses. Hopefully, this statistic opens your eyes to how much small businesses impact our economy and inspire you to join in with your own creative business to be successful. My hope with this three-part series is that these articles helped give you ways to understand your business better and valuable insight into starting, growing, and prospering with your own business one day. If you are interested in starting your own small business and have accounting questions or need accounting services, please contact your financial advisor or visit our tax website to schedule an appointment.

The Right Setup In recognition of Small Business Month, Whitaker-Myers Wealth Managers is partnering with our CPA and fellow small business owner, Kage Rush, to discuss the thought process and steps needed to open and continue to operate a successful small business or side hustle. Our first article covered things to consider when starting a small business. This article will discuss the different types of entities to consider when creating your small business, the tax implications and reporting of each entity, and what to consider when choosing an entity. What option is best for you After formulating a business plan to make your small business dream a reality, an owner is now tasked with deciding how to set up their business for legal and tax purposes. This decision can significantly impact your personal tax return and possibly your business partner(s) tax situation. Below is a list of the possible options for setting up your business and the federal tax reporting associated with each. Sole Proprietorship/Single Member LLC This is most often the setup for small businesses/side hustles or independent contractors (also known as Form 1099 employees). This business entity’s activity is most commonly reported on a Form 1040 IRS Schedule C. If the activity is related to rental real estate or royalties, the income could be reported on a Form 1040 IRS Schedule E. The due date is April 15th, which is reported with your personal tax return. A Sole Proprietorship is the default designation for a business with only one owner. You can file the legal forms for an LLC with an attorney, but for tax purposes, it is treated and reported the same. 92.35% of Net Income (Revenue – Allowed Expenses/Deductions) is subject to Self-Employment Tax (SE Tax or FICA Tax) of 15.3% tax (12.4% is for Social Security up to earnings of $160,200 for Tax Year 2023 and 2.9% for Medicare Tax). The Net Income is also subject to standard income tax (W-2 wages). This can lead to unexpected tax bills for new owners who are used to having FICA taxes taken out automatically by their employer. A sole proprietorship is easy to set up but can come with higher tax bills if not the owner is not saving back profits to pay estimated taxes. Partnership/Multi-Member LLC This is when two or more owners have a capital stake in the business. This business entity’s activity is reported on Form 1065 US Partnership Return of Income. The due date for the tax return is March 15th. A partnership does not pay taxes on Form 1065. Instead, each owner is reported their share of the income(loss) of the business on a Schedule K-1, and the tax liability is paid at each respective owner’s tax rate. Owners are unable to pay themselves normal W-2 wages. Instead, payments for work done on behalf of the business can be treated as Guaranteed Payments and are subject to the SE Tax on the owner(s) personal return. A partnership is required to have a signed operating agreement that dictates the breakdown of ownership in the business, how profits/(losses) are split amongst owners, what are the responsibilities of the owners, etc. A partnership can be helpful for owners who want to invest in a business or idea without borrowing from a bank or third party to fund the business. Potential downsides of a partnership could be the higher start-up costs required to start the business and the more complex accounting standards that are required to be followed. S-Corporation This entity can have only one owner but cannot exceed 100 owners in the business. There are also further limitations on who can be an owner in an S-Corporation. This business entity’s activity is reported on Form 1120-S. The due date for the tax return is March 15th. A s-corporation does not pay taxes on the Form 1120-S. Instead, each owner is reported their share of the income(loss) of the business on a Schedule K-1, and the tax liability is paid at each respective owner’s tax rate. Owners that are material participants in the business must pay themselves a reasonable W-2 salary. This is required because earnings reported on the Schedule K-1 from a S-Corporation are not subject to the SE Tax like a sole proprietorship is. S-Corporations are only allowed to have one type of stock. S-Corporations are required to have an operating agreement in place and require income(loss) and distributions to be pro-rata in accordance with the owner’s ownership percentage in the company. Single Member LLCs or Partnership LLCs can elect to be taxed as an S-Corporation by filing Form 2523, Election by a Small Business Corporation, if they meet the qualifications required for an S-corporation. S-Corporations can be great options for the owner(s) that want to pay themselves a salary from their business and can generate some tax savings on their personal return compared to if that entity was a Sole Proprietorship. S-Corporations can also be more strenuous to set up and are subject to more complex accounting standards than a sole proprietorship. C-Corporation This entity is the standard corporation you hear about in the news (Apple, Walmart, etc.) This business entity’s activity is reported on Form 1120 and is due annually by April 15th. A C-Corporation does pay taxes at the Federal level, unlike an S-Corporation. A C-Corporation can face double taxation if income is distributed to its owners as a dividend. Unlike an S-Corp, there is no limit on the number or type of owners that can invest in a C-Corporation. C-Corporations can have multiple levels/types of stock. C- Corporations can be great options if you bring in many different types of owners to crowdfund your business. The possibility of double taxation can be a downfall for C-Corporations and can be a turn-off for owners. Choosing the right option The business entity you decide to form must match your expectations for the business. Each entity has its positives and negatives regarding tax advantages, ease of setup, and accounting standards required to be followed. Our Whitaker-Myers Tax Advisors, Ltd. team can help guide you on the various entities and give you the tools to decide when setting up your small business. I hope this article helped explain the different options available to small business owners when forming your own business. The last article (Part III) in the small business series will focus on the financial side of the day-to-day business and how understanding your business’s finances can help guide you to grow and prosper in good and bad economic times. If you are interested in starting your own small business and have accounting questions or need accounting services, please get in touch with your financial advisor or visit our tax website to schedule an appointment.

Fresh Seasonal Choices Did you know shopping seasonally can save you money? Especially when buying produce! If you purchase what is currently in season, it will be cheaper than those out-of-season options. This is why buying strawberries in the middle of winter can seem astronomical, especially for not-great quality – simply put, it just isn’t the season for them yet! Venture out of your comfort zone and see what’s in season! With spring in progress and the “official” kick-off to summer starting this Memorial Day Weekend, a surplus of ripe, fresh fruit will be waiting for you at the grocery store. Be sure to look at prices the next time you go grocery shopping. It can benefit your budget to tailor your recipes around what is in season! You may surprise yourself with that delicious recipe you make in the fall with acorn squash and be equally satisfied with the fresh tomatoes for a Caprese salad come summer. Fresh Fruit If you haven’t noticed, pineapples are flooding the shelves right now, and peaches will be close behind! If you’re looking for a refreshing salsa to share with some friends or a topping for that grilled chicken or salmon, look no further. This pineapple peach salsa is sweet, with a tiny kick from the red onion. If you’re a heat lover and feeling bold, I suggest adding some chopped jalapeno to take it one notch higher. Are you having a taco night soon? Add this salsa to some tacos for a sweet, light addition. I guarantee you'll be doubling the batch the next time you make it! Pineapple Peach Salsa: Serving Size: 5-6 servings 1 Pineapple 4 Peaches 1 Red Onion ½ Cup Fresh Chopped Cilantro ½ Lime Peel and core pineapple, then finely dice Pit and finely dice peaches Finely dice red onion Combine pineapple, peaches, red onion, and cilantro in a bowl. Be sure to include any access juices from cutting the fruit! Squeeze some fresh lime juice on top and serve! Serve over grilled chicken or salmon as a topping on tacos, or enjoy with chips!

The impacts of life insurance A huge part of financial security is life insurance. Although it can often feel like another expense leaving your pocket each month, its impact on families is life-altering. A bad situation can become financial security through vehicles like term life insurance. The purpose of this article is to describe how something as simple as life insurance can impact a family for generations. Generation I Let’s say your parents are the first generation to have life insurance. Your mom and dad were very financially responsible. They each had $500,000 policies on each other, bought in their late forties, for 30-year terms. Your dad made it to 76, and his death benefit was $500,000 to your mom. Your mom invests that $500,000, changes the beneficiary from her husband to you, and makes you her beneficiary for her investment account as well. She dies a couple of years later, with one year before the term expires, and the $500,000 death benefit goes to you - Tax-free. Because she invested the other $500,000 and named you as the beneficiary, that $500,000 grew to $550,000, and with the step-up in basis, there are no taxes that you owe on that, and your basis in the investment account is $550,000 + $500,000 = $1,050,000. Therefore, because your parents bought $500,000 in coverage, and invested it between deaths, the beneficiary, which is you, is now over a millionaire in their 50’s. Generation II You are generation II. Let’s say you took your parent's advice and got life insurance when you were young. It is cheaper, you are healthier, and the payments do not change. You buy $1,500,000 in 30-year coverage for you and your spouse. You are paying very little for a good amount of coverage. This is very common. Towards the end of your and your spouse 30- year terms is when your parents pass away. You are glad to have the money as a nest egg in retirement and hope to be able to do the same for your kids. So, you both buy another round of 30-year terms at the same coverage level since your old term coverage expired. Although far more expensive now, you are in a place where the death benefit is more important for your kids than the money you both have now. You both live long, happy lives, but ultimately, like all of us, eventually, you both die. Not only will your children receive the $1,050,000 that grew for 30 years (not unreasonable to assume close to $4,000,000 now), but they will also receive the $3,000,000 in combined death benefits. In their 50s, each of your kids could now have a nest egg of well over $1,000,000, obviously depending on the number of kids you have. You can see where this is going. Generation III So far, the third generation is the greatest benefactor of their grandparents' and parents' decisions. Because of these decisions, they may start businesses, invest in start-ups, or be extraordinarily charitable. Life insurance was created to open all doors for the future and let them choose the path. With higher net worth people, something to consider is creating a trust from the insurance, otherwise known as an Irrevocable Life Insurance Trust (ILIT). This can help stipulate the terms and conditions of how the money will be available to its heirs. As the third generation, they are responsible for keeping this exponential growth of wealth alive. Not only can wealth be generational, but the only way for it to happen is for advice to be generational. That all starts with speaking with an advisor. The power of speaking with your advisor I would be happy to discuss your questions about life insurance and see what coverage would make sense for your specific situation. Please feel free to reach out to me with any questions. Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures. Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner.

Who we are: The Whitaker-Myers Group Thinking about all the services you need to ensure your financial house is in order can be overwhelming. You often hear from us about what you can expect from us at Whitaker-Myers Wealth Managers; however, we wanted to highlight the different divisions within Whitaker-Myers. By doing this, we hope to relieve a little stress for you so you don’t have to make multiple phone calls for these various items. Whitaker-Myers Group is uniquely equipped to help with many areas of your financial life, including Insurance, Benefits, Tax Preparation, Financial Coaching, Estate Planning, and of course, Wealth Management. I usually like to sum this up by saying, “no matter what you are looking for financially, one of our professionals at Whitaker-Myers can likely help!” Financial Coaches at Whitaker-Myers Wealth Managers If you follow Dave Ramsey, you have likely heard of his 7 baby steps. The Wealth Management division of Whitaker-Myers can help you no matter your baby step. Our Financial Coaching team helps clients walk through baby steps 1-3. This includes saving money, paying off debt, building a budget you feel confident in, creating a margin between your income and your expenses, and overall accountability and encouragement along the way. Think about a Financial Coach as you would a Fitness Coach, but one that won’t make you do jumping jacks. I say this because relating a Financial Coach to what a Fitness Coach does usually helps people make the connection if they have not heard of a Financial Coach before. You don’t hire a Fitness Coach to tell you that you should start eating healthy and working out. You already know that those are things you should be doing. But having someone keep you accountable and provide helpful tips along the way is well worth it. The same is true for a Financial Coach; they will guide you in achieving the financial goals that you are working towards. Financial Advisors at Whitaker-Myers Wealth Managers The Financial Advisors at Whitaker-Myers Wealth Managers are here to help you through baby steps 4-7 and beyond. We are a team of Ramsey Solutions’ SmartVestor Pros which means that they will provide you with advice consistent with what you hear on the Ramsey Show. We are one of the few National SmartVestor Pros, which means Dave Ramsey and his team have trusted us to help their fans across the United States. Many ask, “Am I going to be okay in retirement?” or “Am I on track to meet my financial goals?” Our Financial Advisors would be happy to help you discover the answer to those questions by building your financial plan. One thing that makes us unique is that our Advisors have the ability to manage the investments inside of your Employer-sponsored Retirement Plan (IE: 401(k)) while you are still employed. When you work with our Advisors, they will not only help you invest for retirement but will also ask you the appropriate questions to make recommendations that will help you be financially healthy overall. They will help you with baby steps 4-7 and beyond because even though not listed in the baby steps, having life insurance or an estate plan (will or trust) is something we all likely need. These are also areas they can help guide and share information on when making decisions. Whitaker-Myers Tax Advisors Having a CPA on our team means that when your investment questions flow over into tax questions (which happens a lot), we can call on Whitaker-Myers Tax Advisors to help provide you with sound advice and recommendations. Many of our Whitaker-Myers Wealth Managers clients use Whitaker-Myers Tax Advisors to prepare their taxes. It works well since they can pull your tax documents for you in relation to your investment accounts. Whitaker-Myers Insurance Whitaker-Myers Insurance is an Independent Insurance Agency that can help you find the best rate for your home, auto, or commercial lines policy by quoting several different insurance carriers. One of Dave Ramsey’s tips for saving money is to get a quote for your home and auto insurance through an Independent Insurance Agent, especially if it has been a while since you have had a quote done. Insurance can be confusing, so it is nice to have a trusted professional helping you. Whitaker-Myers Benefits The professionals that work on the Benefits side of Whitaker-Myers can help you with Health Insurance, Medicare, and Long-Term Care insurance. If you are self-employed, in between jobs, or need to sign up for Medicare, you will likely find it helpful to talk to someone that can assist you in finding the insurance plan that works best for your specific needs. Mission, Vision, and Core Values Our team at Whitaker-Myers Wealth Managers live and work by our mission, vision, and 7 core values. Having the heart of a teacher is listed as our first core value on purpose because we are passionate about educating our clients and helping them to feel confident about their current and future finances. To better understand who we are and what we value, please see our recent video sharing who we are as a company. If you have a financial question that you have been looking to answer or have had something on the to-do list for a while now, we would love the opportunity to work with you. Feel free to schedule a meeting with one of our Financial Advisors or Financial Coaches today. Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures. Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner. Whitaker-Myers Wealth Managers is not giving tax, legal or accounting advice, consult a professional tax or legal representative if needed.

In January of 2023, we say the markets take a positive turn with each of the three major indexes we track and discuss each week on our "What We Learned in the Markets This Week" video series returning 6.18% (S&P 500), 9.00% (MSCI EAFE) and 9.82% (Russell 2000) respectively. Then in February, it was a return to the 2022 narrative as good news equaled bad news, and the same indexes took a tumble of -3.24% (Russell 2000), -3.62% (S&P 500), and -3.93% (MSCI EAFE). Therefore with the February market reaction for investors, it may feel like déjà vu all over again as inflation and the Fed dominate market headlines on a day-to-day basis. After all, the numerous market swings last year were driven by ever-changing expectations around the Fed - both when investors believed the Fed was doing too little, and when they thought the Fed was tightening too much. With markets once again concerned about the direction of the Fed, what do long-term investors need to know about how the story is evolving? Goods inflation has improved but services are still a problem Only a month ago, at the Fed's latest press conference, FOMC Chairman Jay Powell stated that "the disinflationary process has begun." This is undeniably true across many parts of the economy as inflation has eased. However, recent data raise new questions around how quickly inflation is improving and whether the Fed will need to act more forcefully in the coming months. Not surprisingly, this has spooked markets. The challenge facing markets and the Fed is simple: textbook economic theory says that inflation is the result of an overheating economy. Thus, in order to beat inflation, the Fed may need to slow the economy to a crawl or even cause a recession as it did in the early 1980s. While it's unclear whether a recession will occur in 2023, most forecasts suggest that the economy will be flat this year, at best. This is the case despite a historically strong job market with unemployment of only 3.4%. Thus, the conundrum is whether the Fed will need to break the job market to beat inflation. There are many ways economists slice and dice inflation data to best understand the underlying trends. One common way is to compare overall inflation, also known as "headline" inflation, to inflation without food and energy prices, also known as "core" inflation. This is not because food and energy are unimportant to consumers but because these prices tend to bounce around as commodity prices fluctuate, making it difficult to understand the trajectory of inflation. Recent data show that headline inflation has been decelerating - hence, Powell's disinflationary comment - but core inflation remains stubbornly high. However, another useful way to break down prices is to consider goods versus services within core inflation. Goods are physical, tangible items that consumers buy including new and used vehicles, apparel, home appliances, and more. Services are everything else - rent, transportation services, medical care, etc. Goods and services are both important to consumers but can be driven by different factors. Many categories of consumer goods and services have improved In many ways, this breakdown more closely aligns with what consumers have experienced over the past few years. Early in the pandemic, goods prices skyrocketed due to shortages of everything from toilet paper to computer chips. Today, these prices have improved with core goods inflation running at only 1.4% year-over-year. Used vehicles, for instance, have experienced a price decline of 11.6% over the past year, as shown in the accompanying chart. The prices of core services, on the other hand, climbed 7.2% in January compared to the prior year. It's for this reason that economists worry about the red hot labor market, including wages that are increasing 4.3% year-over-year for all workers and 5.1% for hourly workers. Higher wages that translate into more spending on services could create inflationary pressures. Retail sales, for instance, surged in January after slowing late last year. The Fed is now expected to raise rates higher this year This takes us back to the conundrum mentioned above. While headline inflation is easing, core inflation is still far beyond the Fed's target due to the prices of services. Standard economic theory suggests that this is driven largely by a strong labor market. Thus, markets are concerned that the Fed may have to do more. Currently, market-based expectations are for the fed funds rate to rise to 5.25% or higher by mid-year. One item to note, as discussed in this week's video, is the fact that over the last two weeks, the odds of a higher rate hike than anticipated at the March 22nd meeting have risen from 0% to nearly 25%. If a 0.50% rate hike were to happen (current estimates are for only a 0.25% hike), this would be the first time in recent history that the Fed has gone from slowing down increases (or outright stopping them) to ramping them back up. The market's reaction to this, considering its lack of historical precedence, would be interesting to watch. For long-term investors, it's important to maintain perspective in this market environment. After all, the stock market has fluctuated wildly over the past year based on Fed expectations, with swings in both directions as investors and economists evaluate the constant flow of data. Inflation has been difficult to predict accurately, and both sides of the argument have been wrong at one time or another. Throughout all this, the S&P 500 has risen 14% since last October, and the bond market has done better this year as interest rates have been somewhat more stable. The bottom line? Headline inflation has improved since it peaked last June but core inflation, and services in particular, remain a challenge. The Fed will need to walk the line between fighting inflation and maintaining economic growth. Long-term investors should stay the course and not react to the inevitable market swings. Be like the tortoise, be consistent in every area of your life, including investing. Copyright (c) 2023 Clearnomics, Inc. and Whitaker-Myers Wealth Managers. 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. All reports posted on or via www.clearnomics.com or any affiliated websites, applications, or services are issued without regard to the specific investment objectives, financial situation, or particular needs of any specific recipient and are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not necessarily a guide to future results. Company fundamentals and earnings may be mentioned occasionally, but should not be construed as a recommendation to buy, sell, or hold the company's stock. Predictions, forecasts, and estimates for any and all markets should not be construed as recommendations to buy, sell, or hold any security--including mutual funds, futures contracts, and exchange traded funds, or any similar instruments. The text, images, and other materials contained or displayed in this report are proprietary to Clearnomics, Inc. and constitute valuable intellectual property. All unauthorized reproduction or other use of material from Clearnomics, Inc. shall be deemed willful infringement(s) of this copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. Clearnomics, Inc. expressly reserves all rights in connection with its intellectual property, including without limitation the right to block the transfer of its products and services and/or to track usage thereof, through electronic tracking technology, and all other lawful means, now known or hereafter devised. Clearnomics, Inc. reserves the right, without further notice, to pursue to the fullest extent allowed by the law any and all criminal and civil remedies for the violation of its rights.

As you can imagine, I’ve heard them all. Every story from everyone’s “in the know” uncle or someone who watched a Tucker Carlson special (by the way, I got nothing but love for Tucker other than his sensationalizing he MUST do for ratings) or the horror story from their neighbor. What specific story am I referencing? Stock Market projections. I can bet that at least once a day, I will hear someone tell me why the stock market will crash and never return. Yikes! Imagine my fear, considering mine and those of the 20 members of our team, depends on the growth of stocks over time. The fruit of the spirit is love, joy, peace, forbearance, kindness, goodness, faithfulness, gentleness, self-control, and fear. Whoops, wait a minute, one of those doesn’t belong. Fear or anxiety is often irrational because it’s based on a lack of knowledge; therefore, let’s dig into what the stock market is, how it works, and why it’s been one of the best wealth-building tools the world has ever seen! The stock market is a powerful tool for building wealth, and it has transformed the financial landscape of the world. It allows individuals to invest in companies and participate in their growth, providing an opportunity to increase wealth over time. At its core, the stock market is a platform for buying and selling shares in publicly traded companies. When an individual buys a share of a company, they become a partial owner of that company, and their investment increases or decreases in value based on the performance of the company. If the company performs well, the stock price will increase, and investors will make a profit. Conversely, if the company performs poorly, the stock price will decrease, and investors will lose money. What causes a stock to perform over time? There are four essential components to what causes a stock to go up or down over time. Earnings growth is one of the primary factors that can cause a stock to go up in value. When a company reports higher earnings, investors tend to be more optimistic about the future prospects of the company. This can lead to increased demand for the company's stock, which drives up the price. Well, John-Mark, my uncle said corporate earnings are going to fall off a cliff and stay there forever, shouldn’t I be worried? That has never happened. What is their rationale for that? Usually, it’s something political, and let me remind you, while I most likely adhere to a similar political ideology as you do, considering I have a total Biblical worldview with a belief in the complete inerrancy of scripture, it does the other party no good to crash the economy. Why so that China can be the world’s superpower and the one thing they long for power – they lose! Of course, not; they, as you do, want the economy to grow, and that’s why regardless of the political party, the stock market has delivered similar returns for Democrat and Republican administrations. Take a look at this chart right here – it’ shows the Earnings Per Share growth of the S&P 500 going back to 2007. A few political parties in there, and you’ll notice it has consistently gone up and to the right. Not constant because there is no perfection in this world, but there has been consistency. Wonder why the interest rate increases we saw last year, at a historical breakneck pace, were destructive to the stock market's value last year? If interest rates are low, investors may be more inclined to invest in stocks because they are the only game in town instead of bonds, leading to increased demand for stocks and driving up prices. However, when rates go up and normalize as they have today, you can purchase the Schwab Money Market with a current yield of 4.5%, short-term Treasury Bonds are paying in the high 4%, and brokered bank CDs (which are purchased through Advisors like Whitaker-Myers Wealth Managers) are paying slightly over 5%. Those levels of rates attract money out of stocks for a while, creating less demand for stocks, especially for companies without a compelling growth story. Financial Advisor, Jake Buckwalter just recently wrote an article about what to do with excess cash right now. Investor sentiment can also play a role in the value of a stock. Suppose investors are generally optimistic about the prospects of a company. In that case, they may be more willing to invest in its stock, even if the company's financial performance is not currently strong. This can create a "self-fulfilling prophecy" of sorts, where the positive sentiment leads to increased demand for the stock, driving up its price. Finally, supply and demand dynamics can impact the value of a stock. If a company has a limited number of shares available for purchase, and there is high demand for those shares, the price will increase as investors compete to buy them. History Is on Your Side and This Time ISN’T Different Over time, the stock market has proven to be one of history's most effective wealth-building tools. One of the key advantages of the stock market is its ability to generate long-term returns. Take a look at this chart from Prudential. What you’ll see is that over the last thirty years, which has included some significant drops (2001,2002, 2008, 2020, 2022), we’ve still returned 9.65%, with 80% of the years producing a positive return and an average gain of 18.34% and 20% of the years negative with an average loss of -17.10%. Ever wonder what it does daily? It’s 53% of trading days are positive, and 47% of trading days are negative. While the stock market has provided the necessary growth long term, the daily grind of it can be stressful, hence why a good Advisor will tell their clients not to pay attention to daily, weekly or even monthly movements and invest for their time horizon and risk tolerance. Another advantage of the stock market is its accessibility. Unlike other forms of investing, such as real estate or private equity, the stock market is open to anyone with a brokerage account and some disposable income. This means that individuals of all income levels have the opportunity to invest in the stock market and participate in its growth. 100 years ago, if you wanted to grow your wealth, you had significantly fewer options. Heavens, even 50 years ago, it was so expensive to invest that few people did it. However, this is one reason we appreciate Charles Schwab. If you read his autobiography, as I have, you’ll learn that he was a man on a mission to open investing to everyone. We can proudly say today the mission is accomplished because anyone with the will to improve their lives can seek out a good Advisor like, Whitaker-Myers Wealth Managers, who will help educate them to a blessed and fulfilled future. Additionally, the stock market provides investors with a diverse range of investment opportunities. There are thousands of publicly traded companies to choose from, ranging from small startups to large multinational corporations. This means that investors can diversify their portfolios and spread their risk across a range of different companies and sectors. Our friend Dave Ramsey recommends investors consider investing into four basic categories: Growth, Growth & Income, Aggressive Growth, and International. Financial Advisor Logan Doup, has written our most popular article of all time, Understanding Dave Ramsey's Four Categories, which you can read here. Overall, the stock market is a powerful tool for building wealth and has the potential to provide significant returns over the long term. It has democratized the world of investing, providing individuals of all income levels with the opportunity to participate in the growth of some of the world's most successful companies. However, it is the one thing that you must not allow emotions to control. When there is pain, you must not succumb to the pain and sell your investments. When there is gain, you must not get greedy and invest at the expense of other financial priorities such as paying down your home. That’s why we highly recommend clients turn off the news media and listen to our weekly “What We Learned in the Markets This Week Video” along with Ramsey Solutions suite of podcasts and media available for free wherever you consume content. Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures. Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner. Whitaker-Myers Wealth Managers is not giving tax, legal or accounting advice, consult a professional tax or legal representative if needed.

"This part of the crisis is over. Everyone should just take a deep breath." - JP Morgan Chief Executive Jamie Dimon On the morning of May 1, it was announced that First Republic Bank had been taken over by the FDIC and sold to JPMorgan Chase. Eleven major banks had previously infused First Republic with $30 billion in deposits to stabilize the bank after the failures of Silicon Valley Bank, Signature Bank, and Credit Suisse. This process found new urgency over the past week when First Republic revealed that uninsured deposits at the bank fell $100 billion in the first quarter. Thus, this deal has been in the making for several days, with a few large banks bidding on First Republic's deposits and assets. With ongoing banking turmoil creating market and economic uncertainty, how can long-term investors navigate the months ahead? Three FDIC-insured banks have now failed with a total of $368 billion in deposits The orderly sale of First Republic is good news, but its failure mirrors the other bank failures that occurred almost two months prior. These banks grew aggressively by pursuing deposits that proved to be unstable when the economy slowed, the tech sector faltered, and cryptocurrencies plummeted. While this alone would create stress for any bank, rising interest rates also resulted in unrealized losses in their bond portfolios, which normally don't need to be marked-to-market if they are expected to be held until maturity. However, falling deposits forced these banks to sell bonds and realize these losses. Thus, this banking crisis is the result of both a failure of risk management specific to these banks and the broader tightening of financial conditions due in large part to Fed rate hikes. However, banking crises are not new, and many of the biggest market shocks since the late 19th century have been due to tremors in the financial system. The Panic of 1873, for example, occurred when one of the largest banks, Jay Cooke & Company, failed due to bad bets on railroads. Others include the Panic of 1907, the 1929 crash, the Savings and Loan crises throughout the 1980s and 1990s, the 2008 global financial crisis, and many other international crises. What all of these historical episodes have in common is the availability of money, the expansion of credit, and the eventual tightening of financial conditions. Like a sugar rush, a rapid increase in money and credit through the global financial system can drive asset bubbles and risk-taking in a particular market or across a whole country. Sooner or later, however, there is a sugar crash as returns peter out, sentiment shifts, and conditions tighten. The banking crisis has been concentrated in specific regional banks This is sometimes referred to as the "Minsky Model," named after the 20th century economist Hyman Minsky. In short, as credit continues to expand, investors, businesses and individuals are willing to take on more and more risk. During the height of these market manias, investment returns feel easy to come by, leading to overconfidence and a fear of missing out. While this may be prudent at first, successes and gains motivate investors to take on more and more leverage until it becomes unsustainable (think the dot-com and housing bubbles). This ends when there is a "Minsky Moment" whereby some events shake investor confidence, causing it to all come crashing down. While the details naturally differ between episodes, this is what has occurred since mid-2020. More recently, this has ended with the failure of crypto companies, layoffs at large tech companies, and more. Thus, the question today is whether there will be broader economic instability or if the situation is contained. After all, there are many surface-level parallels to 2008 which are raising investor concerns, including JPMorgan Chase's acquisition of Bear Stearns in March 2008. As the nation's largest bank, it's not surprising that it would play a role in any financial crisis. The Fed had also raised rates prior to 2008 and the economy had appeared to be in good shape based on growth figures. However, while the phrase "this time is different" can be dangerous, there are many distinctions between now and the situation fifteen years ago. Perhaps the most important is the amount of leverage in the system. The global financial crisis of 2008 wasn't just about the housing bubble - the main issue was that banks and other institutions held significant leverage in the form of derivatives which magnified the impact of the housing market collapse. This means that even small upticks in default rates and bad loans were enough to cause large financial institutions to fail. If falling bond prices are seen as a parallel to falling home prices, there would need to be layers upon layers of leverage on these bonds to truly mirror 2008. This does not seem to be the case. The economy grew at a slower pace in the first quarter Additionally, interest rates have fallen from their recent peaks which will help shore up bond portfolios. The 5-year Treasury yield, which roughly aligns with the average bond maturity across bank portfolios, has declined from 4% at the end of 2022 to 3.6% today. Ironically, this is in large part because of the banking crisis which was worsened by rising rates. What's more, the Fed is only expected to raise rates once more this cycle, possibly at its May meeting, before pausing and assessing the situation. This is helped by improving headline inflation numbers. Finally, the broader economy continues to be stable, even if it does appear to be slowing. Last week's GDP report showed that the economy grew by 1.1% in the first quarter. This was slower than expected but was primarily due to a decline in inventories among businesses which reduced growth by 2.26 percentage points, a factor that could reverse later this year. Fortunately, this was offset by strong consumption spending which added 2.48 percentage points. Overall, a slowing economy is what the Fed expects to see in a tighter rate environment. To hear our weekly commentary on the markets, economy and so much more, please subscribe to our video series, "What We Learned in the Markets" this week, by clicking here. The bottom line? Long-term investors should continue to maintain perspective in light of the ongoing banking crisis. A combination of company-specific factors as well as the broad macroeconomic environment led to challenging conditions for these particular banks. However, parallels to 2008 and other historical episodes are premature. During times of market uncertainty, the best approach is to stay diversified and not overreact to news headlines. Copyright (c) 2023 Clearnomics, Inc. and Whitaker-Myers Wealth Managers. 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. All reports posted on or via www.clearnomics.com or any affiliated websites, applications, or services are issued without regard to the specific investment objectives, financial situation, or particular needs of any specific recipient and are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not necessarily a guide to future results. Company fundamentals and earnings may be mentioned occasionally, but should not be construed as a recommendation to buy, sell, or hold the company's stock. Predictions, forecasts, and estimates for any and all markets should not be construed as recommendations to buy, sell, or hold any security--including mutual funds, futures contracts, and exchange traded funds, or any similar instruments. The text, images, and other materials contained or displayed in this report are proprietary to Clearnomics, Inc. and constitute valuable intellectual property. All unauthorized reproduction or other use of material from Clearnomics, Inc. shall be deemed willful infringement(s) of this copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. Clearnomics, Inc. expressly reserves all rights in connection with its intellectual property, including without limitation the right to block the transfer of its products and services and/or to track usage thereof, through electronic tracking technology, and all other lawful means, now known or hereafter devised. Clearnomics, Inc. reserves the right, without further notice, to pursue to the fullest extent allowed by the law any and all criminal and civil remedies for the violation of its rights.

How do Mutual Funds and ETFs Differ? When it comes to investing in equities, it’s generally most efficient to buy mutual funds or ETFs (Exchange-Traded Funds), which are both “baskets of goods.” You can purchase equity in a variety of companies by simply purchasing shares of funds that spread your assets across those companies. This saves you from buying individual stocks and worrying about when to trade from those positions in favor of other companies. Mutual Funds and ETFs at their core, are similar, and generally serve the same purpose, but they have some distinct differences. In this article, we will look at those differences and highlight some critical features of each. How Are They Managed? A key difference between mutual funds and ETFs is that mutual funds can, and often are, actively managed by a fund manager. The performance of the fund is closely tied to the fund manager. If they have been managing the fund for an extended period, with a good track record, then the performance is a valuable tool for evaluating the fund. However, if the fund manager has left or been replaced, knowing that the fund’s track record should not be counted upon for reliable evaluation is important. On the other hand, ETFs are generally more process-oriented in their management style. They are passively managed and structured to compete with the performance of a particular index. Some mutual funds fit this description as well. How Are They Traded? Another critical difference between these two types of funds is how they are traded. Orders for mutual funds are executed once per day, with the price based on the Net Asset Value (NAV) calculated once daily. Each investor pays the same price as all other investors buying that same fund on that same day. As a result, you don’t see a price fluctuation intraday. ETFs trade like individual stocks. They are bought and sold on an exchange, reflecting lots of price fluctuation throughout the trading day. Because the price fluctuates throughout the day, your cost will likely differ from another investor buying the same fund on the same day. Are there minimum investments? Mutual funds do not have to be purchased in whole shares, making them a good option for people just starting to invest. ETFs do not require a minimum initial investment, though they can only be bought in whole share form at their market price. Because of this, buying ETFs for people who are just beginning to invest from zero can be tricky because you may not have enough capital to buy a full share. What are the costs? Mutual funds can be bought without trading commissions. But, besides their operating costs, they can carry other fees like sales loads or short-term redemption fees. ETFs have a bid/ask price spread and a premium/discount to the NAV. The price you pay for an ETF may differ from the value of the ETFs underlying holdings. ETFs generally have a cheaper expense ratio than mutual funds. These costs are baked into the price you pay for the fund and won’t be tacked on to your management fee. Also, the expense ratio is taken into account when looking at the performance of the fund. Which is right for me? The answer really depends on your situation and what accounts you have. As stated above, each has certain advantages, depending on how much money you’re investing or how long you plan to stay in each fund. Discussing your needs with a financial advisor to help you determine the right fit for your investment portfolio is important. Schedule a meeting with one of our advisors today if you’d like to learn more. Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures. Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner. Whitaker-Myers Wealth Managers is not giving tax, legal or accounting advice, consult a professional tax or legal representative if needed.

THE BENEFITS OF LONG-TERM DISABILITY INSURANCE Long-term disability insurance is a type of insurance that provides financial protection to individuals in the event of an illness or injury that results in a long-term disability. This insurance is designed to replace a portion of the insured person’s income, typically up to 60% or 70%, if they cannot work for an extended period. While many people believe that they will never experience a long-term disability, the reality is that it can happen to anyone at any time. In fact, according to the Council for Disability Awareness, one in four 20-year-olds will experience a disability before retirement age. This means that it is essential for individuals to consider the importance of long-term disability insurance. The Benefits of Long-Term Disability Insurance Income Protection The most significant benefit of long-term disability insurance is that it provides income protection. If an individual cannot work due to a long-term disability, the insurance policy will give a portion of their income to help them cover their expenses. Dave Ramsey tells the story of a man who approached him at a book signing and thanked him for his general advice to purchase long-term disability insurance. He was making about $100,000 at his place of employment, had a family, and the unthinkable happened. Luckily, he had long-term disability insurance in place so that he and his family could enjoy an annual income of $65,000 while he was not able to work. Peace of Mind Knowing that you have long-term disability insurance can provide peace of mind. If something were to happen, individuals could rest assured that they have financial protection. Employer Benefits Many employers offer long-term disability insurance as part of their employee benefits package. This means that employees can take advantage of this coverage at a lower cost than if they were to purchase it on their own. The Risks of Not Having Long-Term Care Disability Insurance Financial Instability Without long-term disability insurance, individuals may struggle to make ends meet if they cannot work due to a long-term disability. This can lead to financial instability, making paying bills and covering expenses challenging. Increased Debt Without long-term disability insurance, individuals may rely on credit cards or loans to cover their expenses. This can lead to increased debt, which can be challenging to pay off over time. Reduced Standard of Living Without long-term disability insurance, individuals may need to make significant lifestyle changes to make ends meet. This can include downsizing their home or making other significant sacrifices that can reduce their standard of living. A healthy piece to the financial puzzle Long-Term Disability Insurance is an essential component of a comprehensive financial plan. It provides income protection, helps cover medical expenses, and provides peace of mind. This is why we suggest considering long-term disability insurance to help you have coverage to protect yourself and your family. Luckily, Whitaker-Myers Wealth Myers is part of the Whitaker-Myers Group, which has a department that handles long-term disability insurance. If you have questions about long-term disability insurance, talk with your financial advisor. If you’re interested in a quote, they can put you in contact with a member of our insurance team. Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures. Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner. Whitaker-Myers Wealth Managers is not giving tax, legal or accounting advice, consult a professional tax or legal representative if needed.