How frightening it is to look at your ROTH, IRA Rollover, Brokerage Account, etc., and see a performance number with a dreaded minus next to it every quarter. Was it your choices that caused this? Or was it simply the market? Or, perhaps both. Should we put our money in our mattresses and have wonderfully peaceful and lumpy sleep? If you’re like the majority of Americans, you have, perhaps, had these feelings. Dread, second-guessing, loss of sleep. You are certainly not alone. In this article, we will dive into how an advisor should help educate the client in order to shift the mindset during a long down-market from scared, to opportunistic. The Mind and the Market If you’ve ever heard the saying “you should hate losing more than you love winning”, then you already understand how the mind works when it comes to money. It is a fact that people experience far stronger emotions when their account is in the red than when their account is in the green. Educating yourself is the best way to mitigate these feelings. We are here to help you with that task. What to feel as the market falls There are many emotions people naturally feel as the market falls, and there are always many questions. The worry is usually, how long and how far the market will fall, with fading hopes among the populous that it will ever return to its all-time high. It is your lucky day! I am here to tell you that the market always, since its existence, returned to its previous all-time high. Whether it takes 1 month after COVID to drop 37%, and come right back up, 1 year, 5 years, or even 10 years, the market always finds a way to claw back. The dot com bubble in ‘99 through the mortgage crisis of ‘09, the market had no gains, as there were two huge crises in just that time. Luckily, if an investor was continuing to buy into the market, they would've enjoyed around a 15% gain in 2010 alone. From the end of 2010 through 2020, the market enjoyed well over a 230% gain. It is always important to keep in mind, what is your time frame for this money? Will you be drawing income on this money in the next 5 years? Maybe 10 years? If it needs to be used during a down market, what are my options? Do not feel panicked, stressed, or anxious, by any means. Being uncomfortable is the greatest advantage you can have while experiencing a down market. Being uncomfortable leads to putting oneself in a better situation than before. Advantages of taking a capital loss If I sell now, wouldn’t I take Capital Losses? In an after-tax non-retirement account (brokerage, advisory, etc), if your stocks, bonds, mutual funds, etc, that make up your account value fall below their cost basis, and you choose to sell them, there would be a capital loss. A capital loss is not such a bad thing. Let’s say you’ve lost $40,000 in your account, and decide to ditch an old worthless mutual fund or stock, and reallocate into something that tracks with the market, like an S&P 500 index Exchange Traded Fund (ETF). There are two amazing benefits of capital losses. First, you can use $3,000 per year of capital losses that directly reduce your taxable income. That could lead to thousands of dollars in tax savings depending on your tax bracket. Secondly, and most importantly, it carries forward forever. Yes, forever. So, when your account comes roaring back and makes 25% over the next few years, and suddenly you have $50,000 in gain, there are now tax advantages. Let’s say you’ve used the losses for 3 years of income reduction, so you’re left with $31,000 in tax loss carry forward. When you sell your $50,000 of securities for a capital gain and want to deposit that into your account for a new car, down payment on a home, or help with your child's wedding, you will only have to pay a capital gains tax on just $19,000 of gains, rather than the full $50,000. Long-Term Capital gains tax is typically 15%, so that is a tax liability of $2,850 instead of $7,500. It is important to understand the benefits of losses during a down market because when the market is down, your assets are going to come back at some point, so you may as well take advantage of the capital loss carry-forward rule. Buy low… but how? As the saying goes, “buy low, sell high”. Well, congratulations, you’ve made it! … To a market that has lost 20% year to date. But what does this mean? The market, since its all-time high (January of 2022) has fallen 20 percentage points. This means most stocks and mutual funds have fallen by a percent in this range, perhaps better or worse, depending on the fund. There are many people who think the rich get richer because they can flood their accounts with cash when the market is low. Although this is certainly a tactic of people who hold onto cash for a long time, it all evens out in the long term, because they haven’t had the gains of the past either. The best way to get into the market is through forced savings. Weekly, bi-weekly, or monthly contributions into an investment account to buy shares as the underlying values are going up and down. This is a proven way to buy cheaper than the average price per share throughout time. If you have cash, and you’re investing regularly, this is the best-case scenario. Those with cash see a declined market as a black Friday sale, and all stocks are on clearance. When they secure the 20% sale, when the market just gets back to even, they are 20% ahead of everyone else. This is how you buy low. The power of speaking with your advisor As overwhelming as the stock market, timing, capital losses, and more can become, always feel free to use an advisor you know to just ask questions. One of our core values is to have the heart of a teacher which means it is our passion to help people understand these topics. When it comes to the life work of our clients and prospects, no decision is ever taken lightly. No account value is disregarded because all concerns and questions hold such a heavyweight in a time like this. We hope you’ve learned a great deal from this article, and more importantly, reduced some stress from your life today.

What is an “influencer”? Influencers are more of a modern term gaining popularity in the last several years, due mainly to social media. By simple definition: an influencer is someone present on social media, who has gained a reputation through their followers, is regarded as someone with authority or expertise on a certain subject matter, and engages with large numbers of people through their social media accounts. They gain popularity through the posts that they put on their feeds, and by sharing day-to-day usage of various said products they are promoting on their stories. They also incorporate personal interactions with their followers, telling them about their day, what’s going on in their lives, etc. to make you feel more connected to them, and invested in their opinions and suggestions. Those who follow this said person can then go and watch these videos, or see the photos they post on their own time. With that being said, an influencer can range the gamut of topics from sports and fitness, to nutrition and fashion, to beauty and budgeting. Yes, you read that one correctly, even budgeting. Social Media and Budgeting can go hand in hand There are two people that come to mind when I talk about social media and budgeting. These are @debtfree.mom and @thebudgetmom. Both of these ladies share information about their daily lives, and how creating and STICKING to budgets help with their busy households. They share ways to stay out of debt, and what to look for as triggers to impulse spending, and they also share tips on things they have found to help cut dollars from their own personal budgets, plus much, much more. One of these influencers was recently on vacation. She hadn’t been posting as much as she normally does, for obvious reasons (i.e., spending time with kids and family) but each day she gave a breakdown of what they had been doing, and what they had spent. Things she has included in these updates ran from food purchased for meals in, beach snacks, to meals out, ice cream treats, fun evenings of putt-putt to how much they are spending on gas. She even shared on her stories about how their emergency fund came into effect while on vacation because their car battery died and had to be replaced while traveling! What a great – unexpected lesson for all of her followers! They make learning about budgets and finances fun with not only their daily stories, but they have found fun, creative ways to explain things through their various posts as well. So outside of budgeting, how else can an influencer also affect my budget? Shockingly enough I share this as a tip to help you save money. Because, even though one of an influencer’s main job functions is to promote products and drive business to said product, which in turn usually means making impulse buys for you, they offer promotional codes for following them. Now, I say this is a tip for helping with your budget because if you have been eyeing a product of theirs that you have been wanting to try now for a while, or have been patiently saving up to purchase, these promotional codes could save you sometimes amounts of 15-30% off items. If you follow a beauty and skincare influencer and already use the products they are promoting, this is a great way for you to save. You can either buy ahead at this discounted rate, knowing you will be eventually using the product in the near future or even better, it’s perfect timing and you were about to repurchase it anyway! An account I was following just the other day had a promotional code for workout items, that when you bought the one, promoted item, you got the other promoted item FOR FREE using the promotional code the influencer was sharing. It was close to a $250+ savings by doing this! Of course, you had to want (or be in the need) both of these items for this to be beneficial for you, but if you had been contemplating getting either one of these promoted items, and were waiting for the right moment, that moment would have been with this promotional code for sure! Beware of the *Sale* I know I have fallen victim to it too, “But it was on sale!”. So be careful with these promotional codes. Make sure it is something you truly have been thinking about getting, or in need of, OR that you have been *BUDGETING* for, before making the purchase. Just because it is “on-sale” or you are getting a discount, don’t let this derail you from what your true priorities are, and the hard work you’ve been putting in to stay on budget! I am sure you are already following @RamseySolutions on social media but if you do not already follow @debtfree.mom and @thebudgetmom, check out their Instagram page today to be positively influenced when it comes to your budget! If you’d like to meet with one of our financial advisors, or our financial coach, visit our website and schedule a meeting with one of them today!

In high school, there was this thing called “high waters.” If your jeans or khakis showed any of your socks or, worse yet, the skin from your shins, there would be immediate laughing and name-calling. “Are you expecting a flood to come in tonight with those high waters on,” kids would jokingly reference. I was at my daughter's choir concert, and all the “cool kids” had the most prominent high waters you’ve ever seen. I guess that’s back in style and vogue. In investments, the trend is your friend, and things come in and out of favor based on markets, economies, government decisions, and on and on. This year an exciting surprise has been what we call an inverted yield curve with government treasuries. An inverted yield curve means you can earn higher rates on short-term government bonds (such as a two-year) than long-term government bonds (such as a 30-year). Thus, for a limited time, if you have funds you’d like to earn a fixed rate of return with a guarantee from the US Government, assuming you hold until maturity, treasuries may be an option worth considering. What is a Treasury? As a result of this being out of fashion for the last 15 years because of historically low-interest rates, you may not be familiar with what a treasury is, so let’s dive in. They come in three basic fashions: Treasury Bills which are marketable government debt instruments with a maturity of one year or less. Treasury Notes are marketable government debt instruments with two – ten years maturity. Finally, there are Treasury Bonds which are marketable government debt instruments that have a maturity of twenty years or greater. These debt instruments carry the full faith and credit of the United States Government. That means, if held to maturity, they will pay you back your total principal balance plus the interest quoted on the bond. What is Marketable? You may ask, “what do you mean by marketable?” When you think of buying a two-year bond, your mind most likely goes to the fact that you must keep the bond for two years. That is true if you want the government's guarantee, stating that they will pay back the bond's total value plus interest. However, because they are marketable, which means there is a market for them, a secondary market, you technically could sell the bond 13 months into your 24-month commitment to getting your money back. However, this is where it gets tricky. What you get back will depend on that bond's current value, which changes daily based on several factors, such as yield, maturity, and call features (if any). Let’s use a quick real-life example. Let’s say you bought a two-year treasury in December of 2014, which would have been paying about 0.30% at the time (yuck). Then one year later, the Federal Reserve raised the Federal Funds rate by 0.25%. That increase had the effect of decreasing the price (market price) of that two-year treasury note you bought. Thus if you tried to sell it a month later, in January 2016, you most likely would have sold at a loss. However, if you held to maturity in December 2016, you would have received all your principal plus interest payments with no loss. Thus, the price movements only affect you if you sell the bond early. If you hold to maturity, there is no problem at all. When is Interest Paid & is it Taxable? The interest is paid every six months and has unique tax benefits. The interest will be taxable at a federal level but exempt from state and local taxes. This makes the treasury a little more attractive if everything else is equal (credit risk, interest rate, duration) than a standard corporate bond because of the tax-free nature of a portion of the interest. Current Yields This is changing daily; however, to give you a feel for how unique the opportunity within treasuries is right now, check out the following charts to see the last ten years of yields on a 6-month, 1-year, 2-year, and 10-year treasury. The 6-month yield. **As of 10/21/2022** The 1-year yield. **As of 10/21/2022** The 2-year yield. **As of 10/21/2022** The 10-year yield. **As of 10/21/2022** Bond or Cash Alternative? Many clients have excess cash sitting in their checking, savings, or emergency fund. This is because they didn’t want to take risks with the money; however, they have no immediate need for these funds. They may consider a 3-month, 6-month, 12-month, or 24-month treasury as an alternative. If they're with a major bank, they’re probably getting 0.04% or less on their savings, and if they’re with a small or online bank, they may be getting 2-3% on their savings, and right now, even the 3-month treasury has an annual yield of over 4.00% (this changes daily so check current rates). With interest rates spiking this year, bond funds have had their worst year since 1842. That means your bond fund is more than likely taken quite the beating in 2022. Suppose your bond fund continues to carry a high duration (note Whitaker-Myers Wealth Managers does not invest in bond funds with a high duration). In that case, you should consider if rates continue to climb in 2022 and 2023, you may be better served in a Government Treasury.

It’s the super bowl for Financial Planners and Tax Planners! Ok, maybe that is a little extreme but every year the IRS announces changes to tax brackets, standard deductions, Roth IRA, 401(k), and other retirement plan limits. We received those this week and are very excited to share them with you so you can start making plans around your budget in 2023. With record employee raises coming to folks in 2022, we highly recommend that you recalibrate your Baby Step 4 goals to match your current income and current limits to retirement accounts. Ok, let’s dig in…… 2023 Tax Brackets & Standard Deduction I want to first start with the standard deduction. The standard deduction is the amount of money you don’t pay tax on as long as you don’t itemize certain expenses such as the giving, state and local taxes, and mortgage interest. Since the Jobs and Tax Act of 2017, most individuals and families now take the standard deduction, making their tax situation somewhat easier to understand. That jumps 7% in 2023 to $27,700 for a married couple filing jointly, and it will increase to $13,850 for individuals and married couples filing separately. This is an excellent jump because it will provide families with additional tax savings in that more income comes to you tax-free! Likewise, the pay ranges on the tax code seven marginal rates will almost jump 7% for the tax year 2023. You can click here to see the updated brackets for both single and married filers. 2023 Retirement Plan Limits The Roth IRA and Traditional IRA limits for 2023 have been increased to $6,500 per year for those under 50 and $7,500 for those over the age of 50. Your 401(k), 403(b), or 457 plan will now allow you to contribute $22,500 each year if under 50, and if over 50, that limit will increase to $30,000 with the $7,500 catch-up contribution. Those with a SIMPLE IRA with our firm will now be able to contribute $15,500, up from $14,000. The SEP-IRA will increase to $66,000; your HSA contribution has been increased by $200 for an individual to $3,850 and $450 to $7,750 for a family HSA plan. The income limits for becoming ineligible for a Roth IRA will increase by $9,000 for a single filer to $138,000 in 2023 and go up by $14,000 for married filing jointly to $218,000 in 2023. Finally, a lesser-known benefit is the Savers Tax Credit. If you are filing jointly, contributing to a retirement plan or IRA / Roth, and making less than $72,500 in 2023, you’ll qualify for a 10% tax credit! WOW. If your income is less than that, it gets even better. You will qualify for this special tax credit if you make $36,250 or less as a single filer. Please put your Roth or IRA contributions on your tax return if you're under these limits. Otherwise, the IRS will not know to give you those benefits. Here is a summary of all the changes 401(k), 403(b), 457 and TSP Contribution Limit: $22,500 (Increase of $2,000) Annual Catch-Up Contribution for Employees over 50: $7,500 (Increase of $1,000) Overall Contribution Limit (Employer + Employee): $66,000 (Increase of $5,000) SEP IRA and Solo 401(k) Limits: $66,000 (Increase of $5,000) SIMPLE IRA Contribution Limits: $15,500 (Increase of $1,500) SIMPLE IRA Catch-Up Contributions For Emp. over 50: $3,500 (Increase of $500) Traditional IRA and Roth IRA Contribution Limits: $6,500 (Increase of $500) Traditional IRA and Roth IRA Catch-Up Contribution $1,000 (No Increase) Health Savings Account Contribution (Single) $3,850 (Increase of $200) Health Savings Account Contribution (Family) $7,750 (Increase of $450)

Scam Calls Don't Have to be Scary! ‘Tis the season for all things scary and creepy. There are a lot of things to be scared of but getting a scam call should not be one of those things. In this article, we will go over the steps to help you or those you know that might be more susceptible to these scammers. As long as you take steps to ensure you are safe from identity theft and financial loss, scam calls should be on the back burner of your mind. A quick note: If you have fallen for a scammer’s tricks in the past be sure to give yourself grace and don’t beat yourself up about it. Over the years, scammer’s techniques have become very sophisticated. This article is to help inform you to take the steps that will ensure your safety as well as the safety of those you care about. 10 Ways to Avoid Falling for Scams 1. Know whom you are dealing with Do your research! Look up the company website and cross-reference it with the Better Business Bureau (BBB). If you cannot find any information, then the odds are likely very high that it is not a legitimate company. Most of the time, scammers will present themselves as employees of a large corporation like Amazon or Microsoft. Call the number provided on their official websites to inquire if this is a legit offer or not because likely you will find that those companies do not make specific phone calls. As Dave Ramsey always says, don't invest in anything (or buy anything) that you don't fully understand. 2. Guard your personal information Scammers pretending to be from companies you do business with may call or send you an email, claiming they need to verify your personal information. Working with various financial institutions, you can be assured that they will never call you for personal information. If asked, hang up and call the place you conduct business with to report this. Chances are you are not the only customer who received these scam calls. 3. Stay safe online Do not send sensitive information. Look for clues about security on websites. At the point where you are asked to provide your financial or other sensitive information, the letters at the beginning of the address bar at the top of the screen should change from “http” to “https” or “shttp.” Your browser may also show that the information is being encrypted, or scrambled so that someone who might try to intercept it can’t read it. But while your information may be safe in transmission, that’s no guarantee that the company will store it securely. It can be important to see what websites say about how your information is safeguarded in storage. 4. Be cautious about unsolicited emails They are more than likely fraudulent. If you are familiar with the company or charity that sent you the email and you don’t want to receive further messages, opt out of the emails by unsubscribing (there is usually a link at the bottom of the email to do this). Sometimes the best approach may simply be to delete the email, especially if you don’t know who it is from. One email you might want in your inbox to help keep you educated on important financial matters is our Whitaker-Myers Wealth Managers, "Better than I Deserve" weekly newsletter. We write the content ourselves and you can join our mailing list HERE. 5. Resist pressure Legitimate companies and charities will be happy to give you time to make a decision. It’s probably a scam if they demand that you act immediately or won’t take “No” for an answer. Some scammers may also demand you pay off a loan immediately or damaging consequences may occur, always take time to look into who is requesting the money before you pay up. 6. Don’t believe promises of easy money If someone claims that you can earn money with little or no work, get a loan or credit card even if you have bad credit, or make money on an investment with little or no risk, it’s probably a scam. Oftentimes, offers that seem too good to be true, actually are too good to be true. 7. Fully understand the offer A legitimate seller will give you all the details about the products or services, the total price, the delivery time, the refund and cancellation policies, and the terms of any warranty. Contact the seller if any of these details are missing, if they are unable to provide the details, it may be a sign that it’s a scam. 8. Get off credit marketing lists Credit bureaus compile marketing lists for pre-approved offers of credit. These mailings are a goldmine for identity thieves, who may steal them and apply for credit in your name. Get off these mailing lists by calling 888-567-8688 (your social security number will be required to verify your identity). 9. Check your credit reports regularly If you find accounts that don’t belong to you or other incorrect information, follow the instructions for disputing those items. You can ask for free copies of your credit reports in certain situations. If you were denied credit because of information in a credit report, you can ask the credit bureau that the report came from for a free copy of your file. And if you are the victim of identity theft, you can ask all three of the major credit bureaus for free copies of your reports. Contact the credit bureaus at: Equifax, 800-685-111; Experian, 800-311-4769; TransUnion, 800-888-4213. “Everyone can request free copies of their credit reports once a year. In addition to the rights described above, a new federal law entitles all consumers to ask each of the three major credit bureaus for free copies of their reports once every 12-month period. Go to www.ftc.gov/credit or call 877-382-4357 for more details and to see when you can make your requests. You don’t have to ask all three credit bureaus for your reports at the same time; you can stagger your requests if you prefer. Do not contact the credit bureaus directly for these free annual reports. They are only available by calling 877-322-8228 or going to www.annualcreditreport.com. You can make your requests by phone or online, or download a form to mail your requests.” 10. Check with a trusted professional If you are not sure if something is a good idea, checking with your Financial Advisor for a second opinion is never a bad idea. At Whitaker-Myers Wealth Managers our Advisors have the heart of a teacher and would be more than happy to answer any questions you might have.

Time flies! I was reminded of that saying this week as my wife began prepping for her 5th season of coaching high school girls' basketball. Girls she coached when she started in jr. high are now entering their senior year. Time doesn’t slow down. In the financial planning world, that means for a limited time; you have opportunities to take advantage of some deadline “deals,” if you will, regarding financial planning. Below are a few that we think you should consider. Bunching Charitable Contributions The Jobs and Tax Act of 2017 was my career's single most significant tax change. It nearly doubled the standard deduction, and many itemized deductions were capped or eliminated. However, charitable giving is still deductible for those that itemize and don’t take the standard deduction. In 2022 the standard deduction is $25,900 (married) and $12,900 for those filing a single tax return or married filing separately. With the standard deduction jumping to $27,700 (married) and $13,850 (single) in 2023, this may be the year to bunch charitable contributions. Bunching charitable contributions means: making your entire 2023 charitable contribution in tax year 2022 to make your charitable giving (along with any other itemized deductions) exceed $12,900 (single or married filing separately) or $25,900 (married filing jointly). Let’s use a quick example. Take a look at this chart. Susan and William Jones are happily married and filing their returns together. They make $120,000 / year combined and tithe $12,000 to their church, pay $4,600 in state and local taxes, and $3,000 in mortgage interest. As you can see from the example here, if this client were to bunch their contributions, meaning contribute for 2022 and 2023 in one year, it would provide them an extra $1,254 in tax savings. Let’s say they bunch 2022, 2023, and 2024 charitable contributions into one tax year, 2022. Now they create an extra $3,894 in tax savings, and in 2023 and 2024, they take advantage of the higher standard deduction rates. One additional item to high is that you could give appreciated securities held longer than a year to a charity. This allows a deduction up to the fair market value of the investment. This can be a great way to eliminate a concentrated company position, either because of company stock options or an excellent investment into a company like Apple, Amazon, or another stock that has appreciated. Evaluate Emergency Fund In light of the massive interest rate increases the Federal Reserve has punished the bond and mortgage markets with this year, it has provided savers a better option for their emergency fund. However, many big banks, already flush with liquidity, have not increased their interest rates accordingly. I looked at a top 5 bank in the US that I spent half my career with, and they are only paying 0.04% on their savings account, and The Fed has moved rates up about 3% already this year! That isn't nice of that big bank. We recommend our clients consider the Schwab Money Market Fund as an alternative. This liquid account provides clients with a 2.92% current yield (as of 10/18/2022) and has no minimum investment sizes and required investment periods. If my $30,000 emergency fund were earning 2.92%, I would have made $876 in interest as opposed to my bank savings, which at .04% would have earned $12. In terms of your emergency fund. Now could be a great time to determine if inflation has warranted a larger emergency fund. Typically, people have avoided increasing their emergency funds, even if they needed to, because rates have been so awful. Now that you can earn a respectable speed on these deposits, you should ensure that your emergency fund is adequate. The Wall Street Journal, just this last weekend, informed us that more than half their economist surveyed expect a recession in 2023. If one does come, you should ensure your “rainy day fund” is ready because it may rain. Roth IRA Conversions This is something you’ll find in every single year-end planning article. But this year, it is essential to consider. Why? As of the writing of this article, the S&P 500 is down in the range of 25%. The Nasdaq (more tech-heavy stocks) is down about 35%, and if you were risky (think ARK investors), you are down 70% YTD. During every bear market, you typically see the full recovery happen within 1.7 years. Please read my article Bear Markets, Normal Not Fun, for a more detailed explanation. But if this is the case, your Roth IRA conversion is now at least 25% cheaper than it would have been otherwise. Let’s use Susan Jones again as our poxy. Susan Jones had an IRA worth $100,000 on January 1st, 2022. She now opens her statements and see’s that it’s worth $75,000 in October of 2022. Since we know Susan and her husband make $120,000 / year, we could assume that she is in the 22% Federal Tax Bracket. If she had converted her entire IRA on January 1st, Susan would have paid $22,000 in federal income taxes to make the conversion happen. If she converts today, it will only cost $16,500. That’s a savings of $5,500, and based on historical results, it may only take a year and a half for her to see that recovery happen, all in under the benefits of tax-free growth and tax-free withdrawals of a Roth IRA. Become a Better You Goal setting can be such an intimidating task. There may be hurdles you don’t think you can overcome to achieve a goal, maybe the time to complete the task doesn’t seem possible, or perhaps Eeyore is your spirit animal, and you think too negatively. Well, my friends at Ramsey Solutions, Rachel Cruze, Dr. John Delony, and George Kammel, have teamed up to put together an incredible planner for 2023 to help you achieve your goals in three critical areas of your life: financial, relational, and spiritual. What are the things you want the most in your career? Your relationships? In your walk with Christ? What if I told you I would be happy to give those things to you for Christmas this year? You’d reply, John-Mark, are you, Joel Osteen? Are you the prosperity Gospel guy? No – I am the sowing and reaping guy. I am a guy who believes with hard work, anything is achievable. I am the guy the believes Galatians 6:7 – Do not be deceived: God is not mocked, for whatever one sows, that he will reap. To bring this full circle, I am the guy that watched his wife and her team, through hard work, go from 3-18 to 20–4 in two short seasons. Hard work is not a 100% guarantee of success, but it is the main ingredient. This year, if you have dreams of improving those three areas: financial, relational, and spiritual, then consider purchasing or asking to be gifted the 2023 Goal Planner from Ramsey Solutions. You’ll learn the five essential guidelines for goal setting so you can determine your goals in those three critical areas, and once you apply these guidelines, you’ll be amazed at how attainable your goals are. The reality, this is so much more than a planner. This will inspire and encourage you to focus on the most critical areas of your life. 2023 is Almost Here There are only two months left in 2022. The time will fly with Thanksgiving and Christmas but spend some time planning. If you would like to discuss any of the ideas discussed above with any of our Financial Planners and Advisors, please don’t hesitate to reach out and schedule a meeting with us here or call the office at 330-345-5000 or 419-524-4562.

How Facebook Groups can save you money, or make you take a hit on your budget. Have you ever been sent a Facebook invite to join a “deals” page? Or are you a current member? I think I belong to about 3 or 4 and will have to say, there are both benefits and cons to being in a group like this, especially when it comes to saving money. If you’re in a group like this, you know what I mean. You are inundated daily with multiple posts showing discounts, percentages off, or BOGO sales flying off the advertised sites. All of these could be definite cost savings for you or could leave your wallet hurting from an impulse buy. What are “deals” pages? There are several kinds of pages I belong to that could be considered deals pages so I will say the true definition is open-ended. However, I will say the two main ones I have found are either a discount advertising page or a silent, online auction page. Discount Advertising Page From what I have learned about these pages, the administrator of this group posts daily deals that they have either received notifications about from the direct seller or deals people within the group have found and told them about. A lot of these discounts come as an already marked-down percentage from the seller, or they give a promo code for you to enter and receive the item at the discounted rate. If you order through the page, using the link provided in the post, then the administrator to this group will receive a certain percentage and can make a commission off items sold through that link from the seller. Again, from what I have seen on these pages, most of these deals are coming from Amazon, Jane, and other larger online wholesalers. Once you go through the provided link, you order the item(s), and either enter the promo code provided or watch the discounts applied at checkout. Then the item is shipped to you. Silent Online Auction Page These groups/pages have a bit of a different approach. Usually, the administrator of the group is the one selling the items. In the group that I belong to the man does it as a side job, so the posts are not as consistent as the Discount Advertising Pages from what I have noticed. He is also local to my area so does not do any shipping; all sales are pick-up sales. How he runs the page is like a silent auction. He posts the item (with a description and photos) and will either say what the starting bid is in the caption or let the first-person comment on the post be the first to throw a number out. Then if you would like to make a bid, you just leave your dollar amount in the comments section. After 24 hours, if your bid has not been beaten, he messages you that you are the winner and shares details of how you can pick the item up. Most of the items he is selling are surplus things he has either bought himself or gotten from auctions as well. Most of the items that I have seen are in relatively good shape or brand new. A lot of the time coming in the box, and perhaps might have some cut in the box as the reason it went to surplus. He will also share if there are any issues with the said item so you are aware when purchasing and making your bids. The benefits of these groups You can get some major steals if you catch the right sale. On one of the advertising pages, they had a code provided that if you bought one shirt, at a discounted rate, you got a promo code that had free shipping AND a Bogo offer. So, I basically got two shirts for like $7.00. Granted, they were shirts I liked and had a use for so that was beneficial too. I wasn’t just buying two shirts because they were such a great price. Another “achievement” from being in the silent auction group, I recently purchased a Baby Bjorn travel crib that usually retails on Amazon for $299.95 (or on “sale” for $269.99) for $16!!! With baby #2 on the way at the time, this was a no-brainer when I first started to bid but had no idea, I’d get it for this cheap or what the seller called it as I was picking it up, “the steal of the century”. I have also gotten things for my daughter at amazing prices. From toys for birthdays and Christmas to everyday “just because” things (FYI - why I have a “spoil her” line in my budget!). My sister and mom belong to the group as well and many times we have sent each other the link or tagged each other in the post to *hint* that something may be a good idea for a gifting item to someone else in the family or even a friend group we have. The sites I belong to are not just for clothing items or toys either. A lot of the time they will have tools, car accessories, outdoor décor or gardening things, and household items featured on the page as well to name a few. Cons to these groups You can very easily get caught up in the “sale” of the items. Both on the discount advertising page and silent auction group. And just because it is a good deal, doesn’t always mean you need it. Or need it RIGHT NOW. You might not have even been in the market for something, but because you see it at such a discount, sometimes you feel compelled that you may actually “need” it. And when you are on the silent auction pages, sometimes it’s easy to get lost in the excitement of “I’m winning” with a bid you put down. But is it something you truly need right now? And what if you don’t have these items planned for in your budget? That is where the real trouble can start. Because, yes, you can get some great deals, but at the same time, if you are not planning for these expenses in your budget, the “great deal” in the end may end up being a bad decision. Ways to help keep you in check with these pages/groups: I have seen a lot of things while scrolling through those pages and have had to stop myself a lot of times from clicking the order button (or putting down a bid). I have developed and used some tricks to help keep myself in line and in check with these “amazing steals”: Add it to your cart and let it sit there for several hours to think it over more You’ll either decide no/yes, you truly don’t/do need it. Or you will forget about it, proving you really didn’t need it after all. Set a price point you are not willing to go over if you are placing bids Ask yourself these questions before buying it How long can I use this? Is it seasonal and only be used for a short time? How many uses will I get out of this? Have I been looking to purchase something similar or this specific item before seeing it on sale? Can this be used as a gift for someone – and they truly need or want this? How good of a price discount is this? How will this impact my overall budget if I buy this? Ask a friend their thoughts – but be mindful of whom you ask I suggest someone who is budget-minded like yourself to be your accountability partner with these purchases. Capitalize on these pages, but execute with caution As I have said throughout the article, you can find some amazing deals with these pages/groups. The key is to keep yourself in check, not go “add to cart” crazy, and think through things before impulse purchasing. I will admit I have a few items that looking back now, I got caught up in the “sale” or “deal” that they were. Thankfully they were not full-blown retail prices, but in the end, could I have saved my money and had that left in my bank account? The answer is yes. So, I suggest if you know you’re an impulse buyer and tend to splurge on shopping, then I would not join one of these groups so they do not tempt you. However, if you are looking for some great deals, and are diligent with how you are spending your dollars, I say join one and see how you can come out on top with your purchases! If you need help with setting up a budget or have never created one before, our Financial Coach Lindsey Curry can meet with you and help you decide the best strategies for creating one.

The Social Security Administration COLA The Social Security Administration is set to announce the 8.7% cost-of-living adjustment (COLA). The 8.7% COLA will boost the average monthly Social Security retirement benefit to $1,814 next year, up $145 per month from this year’s $1,669 average benefit. The 8.7% COLA increase is the largest adjustment to the benefit in 40 years thanks to high inflation. And to everyone’s surprise, a decreased Medicare Part B premium comes with it. First, let’s focus on Social Security and how they calculate the COLA and then how those both receiving the benefit and delaying the benefit are affected. COLAs have been calculated based on the CPI-W (Consumer Price Index for Urban Wage Earners and Clerical Workers). After 1983, COLAs have been based on increases in the CPI-W from the third quarter of the prior year to the corresponding quarter of the current year in which the COLA became effective. The CPI-W measures the changes in consumer prices to which certain workers are exposed. All of that to say, we have seen higher inflation since the Covid-19 pandemic and Social Security must accurately adjust the benefit in accordance with that inflation. If you are currently claiming Now how does this affect those receiving the benefits? If you are receiving Social Security benefits then you will begin receiving the updated benefit amount including the COLA in January of 2023. If you are not currently claiming The good news is, everyone eligible for Social Security retirement benefits will receive credit for all of the Social Security COLAs that occur after they turn age 62, regardless of when they choose to start drawing their benefits. So, there’s no need to rush to file for Social Security before January, go ahead and stick with your financial plan Medicare Part B Premiums Decline When Social Security recipients got a Cost-of-Living Adjustment of 5.9% in 2022, they were met with a 14.5% increase in their Medicare Part B premium up to $170.10. This year, Medicare Part B premiums will be reduced by $5.20 to $164.90 a month. This is due to lower-than-expected Medicare spending for an Alzheimer’s disease drug. In a year with a negative stock and bond market, Social Security recipients can see a glimmer of light with the cost-of-living adjustment and decreased Medicare Part B premiums. Remember, annual income affects Medicare Part B premiums as well. If you have questions specific to your financial situation and how this might impact that, please feel free to reach out to your Whitaker-Myers Wealth Managers Financial Advisor.

Inflation: What is it? Inflation is a word that is not spoken of regularly in our social circles. It has been mostly used in financial professionals’ communication for the last 3 or 4 decades. That has changed over the past few years and inflation is now a common topic of conversation for most Americans and most of the world as well. Wikipedia simply states that it is the general increase in the price of goods and services in an economy. Occasionally, inflation can be isolated to specific industries, for a variety of reasons, but why all Americans are keenly aware of inflation is because food and energy have increased broadly by over 10%. These are expenditures that Americans incur weekly, sometimes daily, so we are well aware that inflation is here and affects us all because these are necessary expenditures, not discretionary ones we can avoid. Overall inflation has ticked down from over 9% but currently is 8.52%. Inflation: How does it work? The classic explanation is simply summarized as too much money chasing too few goods. So, the recent unprecedented spending of over $5 trillion dollars on COVID relief combined with supply chain issues from mandated shutdowns and new restrictions and regulations has sparked inflation. Discussing the merits and necessities of the extra spending and the increased regulations and precautions are not the intent of this article; however, the clear facts are that the money supply (m2) has sharply increased since 2020, and the supply of most goods and services have dramatically decreased since 2020. See the chart here graphing the money supply over the last 5 years. If arbitrarily printing money had no consequences, then why shouldn’t every American just get a basic income of $100,000 every year? The answer is obvious, the value of our money is worth less, and inflation is ignited. Margaret Thatcher said, “The lesson is clear, inflation devalues us all.” So, the temptation of governments is to throw around “free” money as a quick solution to problems, but in the end, the standard of living will decrease, even if you have a little higher income. Economist Milton Friedman said, “Inflation is taxation without legislation”, so consumers have less disposable income and it is more difficult to make ends meet. So if the government, in conjunction with central banks, could keep the money supply from increasing beyond pre-pandemic levels, that is the first step in controlling inflation. The second government action is facilitating an economy that encourages making goods and services readily available. This is commonly referred to as supply-side economics. Fiscal discipline and a strong supply of products are a proven formula for a healthy growing economy, with low inflation. Ronald Reagan proved this to work and helped pull us out of a difficult inflationary environment, in the early 1980's. One challenge that we still face is that the money supply is still way above pre-pandemic levels, so shrinking the money supply or quantitative tightening still needs to happen, which will also be a blow to markets. Many people focus on raising interest rates to squash inflation, which is part of the medicine that our economy has to take, but shrinking the oversupply of money is part of it as well and will keep the US dollar from losing too much value. What can I do about Inflation? Proactive steps can be divided into 2 broad categories: How should I handle my budget and How should I invest in an inflationary environment? So, we will address budgets first. The first and most obvious step is to not increase your budget, compounding the sting of inflation. This is not the time to add an extra streaming service or finance items that are "wants". Although having at least one car is a necessity for a family, adding another car or buying a new car in this market for vehicles should be avoided. After confirming that there are no unnecessary increases to your budget, then be diligent about looking for ways to decrease your budget. Look at eliminating some subscriptions, start carpooling, and shop for groceries and consumable items at lower-cost grocery stores and dollar stores. Be creative, if you truly want to trim the budget somewhere, you can find a way. Also, if you are paying extra on a fixed-rate expense, like a mortgage, now is not the time to be aggressive in paying the balance down. You are actually paying your mortgage at a discount, because inflation can’t swell that monthly cost, like all other new purchases in our budgets. For items that have variable rate borrowing costs that are going up, those should be scrutinized and you should try to apply some savings or “found money” to those payments. Another way to potentially fight rising prices is to sell items around your home that you no longer need or use. Selling items online or doing an old-school garage sale is a way to add some extra dollars to the cash flow. Lastly, looking to work overtime or an extra side hustle can also be an effective way to address the dent that inflation is putting into your budget. The second phase of dealing with inflation is deciding if you should invest differently. This is a trickier one and not quite as obvious or as much of a science. Two principles to apply are to stay diversified and not abandon your investment plan if you were already regularly investing, pre-inflation days. In very difficult stock market environments, having some non-correlated assets might make sense for you. Typically, bonds are not as correlated to stocks as they have been recently, so traditionally having some bonds, particularly for shorter time horizons is a good idea. In the last year, bonds have not provided the safety that they traditionally have and bonds are currently correlating with stocks, which is down. I Bonds, REITs, Structured notes, Commodities, and Treasury Inflation-Protected Securities (TIPS) are examples of things you might want to learn more about. If you are a client of Whitaker-Myers Wealth Managers, your Financial Advisor would be more than happy to discuss your accounts and concerns with you. If you are not a client, please feel free to reach out to one of our Advisors and we would be happy to help you in feeling more confident about your retirement planning and saving. If you have cash sitting in a bank account above your Emergency Fund and are wondering if you should invest it, that is a very good question and one that can be specific to your goals and risk tolerance. Dollar-cost averaging is a great way to buy into the market and get the benefits of buying in over a period of time so that might make sense for you. If you want to hold off on investing it at all until the market isn't as volatile, that might be okay as well but just know that if that is money you are saving for longer-term goals, do not let your emotions get the best of you or overthink it. You will likely not want to wait too long to get it invested. This is because although it is painful to go through an inflationary environment that is disrupting markets, you likely still want to take some risk and be invested in the markets so that you still have a chance to beat these high inflation rates. If you sit in risk-free cash, CDs, or treasuries as a permanent strategy, then you are guaranteed to lose purchasing power. Although there is no magic pill for investors, it is important to seek out your advisor and talk through your current and future financial picture.

Why Charitable Giving Should be a part of your financial present and future As an investor, it’s up to you to decide what is important concerning your investment strategy. In all areas of life, decision-making boils down to Knowing your why. If your why includes giving toward a local non-profit or church, then charitable giving should be a part of your financial plan. The Bible offers a helpful illustration in Luke 8:1-3, where we see an account of three generous women who came alongside Jesus and his disciples as financial partners – funding the ministry. The book “Gospel Patrons” by John Rinehart, expounds on this idea as it highlights people throughout history whose generosity helped to change the world. I spent the last nine years working for a non-profit outreach ministry and saw first-hand the impact of charitable giving. Generous donors are the backbone of any non-profit organization and can have a high level of impact on a community. This article aims to give you just a snapshot of the benefits of including charitable giving in your plan to achieve a holistic financial strategy while supporting critical work. Bigger Impact with a DAF It’s always important to have a plan. Planning your Charitable giving can allow you to increase your impact by avoiding unnecessary taxes on your charitable funds. One way to do that is through a Donor Advised Fund (DAF). A DAF is a way to donate appreciated stock, and avoid paying capital gains tax on the money you’d like to donate. You receive an immediate tax deduction of up to 30% of your adjusted gross income for any gift of appreciated securities. That list includes real estate and mutual funds in addition to other assets. By simply donating long-term appreciated securities (securities held for more than one year) to a DAF, capital gains are eliminated, your marginal tax is decreased and more money will go directly to your organization of choice. The DAF then disburses funds to your designated tax-exempt organizations, and this can of course be updated as needed. A tool known as a Designated Fund is similar to a DAF, but it designates funds to one specific organization. Utilizing either a Designated fund or a DAF allows you the peace of mind that you are making an impact, and saves you both tax dollars and time. If you want to make an impact even after you’re gone, a Charitable trust is a great way to set up indefinite giving, so that your impact can be felt for generations. It’s important to note that once money is placed into charitable accounts it can only be used for giving. Consult with a tax professional to see if a charitable account might be right for you. Benefits of Giving If you aren’t ready for a DAF, you can still make an impact by giving cash. Churches and non-profits benefit from your charitable giving even in modest amounts. You can also benefit financially from giving, especially with quarter four drawing near, it’s important to be thinking about how today’s dollars affect your tax status at April’s filing deadline. If you plan to itemize your deductions, you can reap real tax benefits through your charitable giving through the end of the year. There are a variety of options to fit your needs, but if you’re at RMD age you could use a Qualified Charitable Distribution (QCD) from your taxable IRA as another beneficial mode for giving. Regardless of your income level or life stage, it’s important that you know your “why?” What is your “why?” At Whitaker-Myers, we care about our clients and their goals so please reach out to your Financial Advisor or Tax Professional today to get started on your financial and charitable goals.

Social Security is a benefit nearly 1/5th of the country is currently receiving and the majority of working Americans pay into it. How is something that affects such a large percentage of the population so easily misunderstood and complex? The goal of this article is to deliver the fundamentals of Social Security and develop a much stronger communication with your advisor around the topic. With all that being said, let’s jump right in. What is Social Security? In the midst of the worst economic downturn in modern times, the great depression, President Roosevelt signed the Social Security Act in 1935 that would forever change retirement. Social Security, known as the Old-Age, Survivors, and Disability Insurance (OASDI), is a federal program designed to provide partial income replacement to qualified adults, their spouses, qualifying ex-spouses, those who are disabled, and under special circumstances, children. Social Security encompasses multiple social insurances and social welfare programs, for the purposes of this article, I am going to focus on the issuance of Social Security benefits. Who Funds Social Security? So, who is funding Social Security? Well, you, the worker (unless you have a covered pension and are exempt from paying into Social Security). Social Security is a pay-as-you-go system, and the payments are made through a payroll tax. The payroll taxes are known as the Federal Insurance Contributions Act or “FICA”. FICA taxes are a tax of 7.65%, comprised of a 6.2% tax for Social Security funding and another 1.45% to fund Medicare. Of course, your employer must also match your contribution, and if you are self-employed, you must pay FICA taxes both as the employee and the employer (so go ahead and double up that 7.65% if you are running your own business). In fact, about 90% of the current funding of Social Security is made through payroll taxes. The other 10% is made through a combination of things: taxation of Social Security benefits being paid out to retirees, and interest earned from the current Social Security trust fund (where all the extra money accrued from payroll taxes exceeding payable benefits are stored). How Does One Qualify for Social Security? To fit the “fully insured” definition of Social Security, an individual must obtain 40 credits throughout their working lifetime. An individual can earn up to four credits in one calendar year. To earn a credit, the individual must have met the earnings threshold ($1,510 for 2022). These thresholds are updated annually for inflation. Do they Ever Stop the Taxing?!?!? Yes, the Social Security tax ends on your wages once you have hit $147,000 in earnings for the year 2022 and this number is adjusted annually with inflation. On the flip-side of this coin, because Social Security taxation caps wages for the payroll tax, they also have a cap on the maximum monthly payment one individual can receive. Now that we understand the fundamentals of Social Security benefits, let’s look into how your benefit is calculated and all of the fun with claiming a benefit. How is the Benefit Calculated? The Social Security Administration actively tracks your income (as well as indexes it) and the years you have paid into the program. Social Security then uses the 35-highest paid years of your working career to determine your average indexed monthly earnings or “AIME”. From your AIME, Social Security arrives at your Primary Insurance Amount or “PIA”. The primary insurance amount is the monthly amount that an individual can claim at their full retirement age. If you are curious what your full retirement age is, enjoy this not-so-complex graphic: Reductions and Increases to the Benefit Let’s look at a fictional character for this example, his name is Garfield. Garfield has had an excellent career as an electrician and was born in 1960. Garfield is now 62 and wants to begin planning his retirement. He downloads his Social Security statement and Social Security states his primary insurance from his highest indexed 35 years of earnings at age 67 is $2,000 a month. What Happens when Garfield Claims Early? Garfield can claim as early as age 62. Claiming Social Security early will permanently reduce the monthly primary insurance amount “PIA”. Garfield will receive a reduction in the following amounts: For every month he takes Social Security early within 36 months of FRA, his benefit will be reduced by .56% up to a maximum of 20%. For every additional month beyond 36 months, the benefit is reduced by .42% for up to 24 months for a maximum of 10%. The maximum reduced benefit will leave him with 70% of his PIA at age 62. What Happens when Garfield Delays his Benefit? Delaying Social Security after FRA will add an additional 8% annually to Garfield’s benefit. If Garfield, with an FRA of 67, delayed receiving Social Security until age 70, he would receive a benefit of 124% of his PIA. Garfield’s Social Security Amounts would look like this: Claiming Early Vs. Delaying Garfield has a tough decision in front of him regarding his Social Security, he likes the idea of claiming later for an increased benefit, but is worried that no male in his family has lived past the age of 76, and he could be leaving money on the table… (and that is why claiming Social Security needs to be decided and based upon each individuals’ financial goals, family health history, and retirement planning.) Garfield decided to pull the trigger on claiming benefits as early as he could at age 62 and take the reduced payout of $1,400. If Garfield would have waited until his full retirement age, 67, to claim the benefit, his breakeven point would be age 77! At that point, claiming at age 67 becomes a better strategy than claiming at age 62. If Garfield defied the odds on his family’s health history and lived until age 95, that would be a dollar amount of $222,729 that he would be giving up throughout his retirement years by claiming early at age 62. Working while Collecting Social Security Early retirees may have their benefits cut if they exceed the earned income threshold ($19,560 for 2022). The benefit will be reduced by $1 for every $2 above the threshold before an individual reaches FRA. For the year in which FRA is obtained, the benefit will be reduced by $1 for every $3 above the threshold ($51,960 for 2022). There are no earned income limits once FRA is obtained. Garfield was such a great electrician during his career, and like a lot of retirees these days, he decided to optionally work part-time to keep himself in motion. He started his own electrician business and did 5-10 house calls a week, Garfield was able to make $30,000 in his first year of retirement doing house calls, while only working 2 days a week (the rest he spent fly fishing). Because Garfield is below the FRA, the benefit will be reduced by $1 for every $2 above the threshold of $19,560. Garfield will have his annual Social Security benefit reduced from $16,800 to $11,580 for the year because he did not know of this earned income limit☹. Who Can Claim the Benefit? This is a common question we see as financial planners, while it can get overly complex, the typical claims to one’s benefits we see are the spouse (can claim 50% of the benefit at their FRA), an ex-spouse who was married to the fully insured participant for at least 10 years, and a surviving spouse who gets 100% of the benefit at FRA. If you do like getting into the weeds, here is a complex chart to go ahead and look through. Taxation of Social Security This is another topic that can get complex very quickly. I will stay short and sweet on this one, in 2021 if you filed single, the benefits are not taxable below an income of $25,000. Up to 50% of the benefits are taxed between $25,000 and $32,000 and up to 85% of the benefit is taxed with income above $32,000. If married filing joint, the benefits are not taxed with income below $32,000. Up to 50% of the benefit is taxed when income is between $32,000 and $44,00 and up to 85% of the benefit is taxed above $44,000. Here is the formula that determines how much your Social Security is taxable: ½ of Social Security Benefits + Adjusted Gross Income + Nontaxable Interest = Combined Income. Meet with your tax professional to discuss missing any Social Security “bump zones”, when extra income in retirement makes more of your Social Security taxable. Does Social Security Receive a Cost-of-Living (COLA) Adjustment? Yes! This is why Social Security is often referred to as the best annuity option in the world. I won’t go into detail on this, but I have already written an article if you are interested in reading through how the COLA works. Believe it or not, a lot of what this article discusses only scratches the surface of how complex Social Security can get in certain scenarios. It is important to understand the fundamentals of claiming Social Security and how it will impact your retirement income. Here at Whitaker-Myers, we are proud to have the heart of a teacher and continue to educate on this topic to our beloved clients. Social Security is something that should be reviewed and analyzed with your financial planning team prior to implementation. Please review with your financial professional/professional tax advisor.

Imagine living (in career terms) in a world where money is the focal point of everything. It’d be very easy to become vain and self-absorbed extremely quick. It’s one reason why you can’t attend a Financial Planning conference and look throughout the parking lot and witness a sea of luxury car brands. I promise you it’s not because they are all doing so well financially, but rather as my friend Dave says, they’re driving those cars to impress someone at a stop light or an industry conference they’ll never meet. Of course, I don’t have issues with luxury cars, but the point is valid: my vehicle is often bought for the wrong reason. It’s why one of the hardest things we must do is merge the following two issues: the Bible instructs us to save and invest and it instructs us to have a Kingdom mindset. A client once asked a Financial Planner I knew if their home, well into the seven figures in value, was too expensive for a Christian. The heart of his question was, “should I sell it because I feel guilty?” The Financial Planners' response was incredible! He answered, “Have you asked God what you should do with it?” The client responded that he had not and sought the Lord in prayer around this decision. He decided to sell, and a strange thing happened. The house wouldn’t sell. No one was interested in it nor could afford it. So, the family decided to begin figuring out ways they could use this impressive piece of architecture to further the Kingdom of Christ. Well, wouldn’t you know, this home would become a ministry tool over the next ten years like no other. When the family was willing to give up the house, God was ready to start using it for His glory and our amazement. My desire to be a Kingdom Advisor is centered around James 3:17, which says, "But the wisdom that is from above is first pure, then peaceable, gentle, willing to yield, full of mercy, and good fruits without partiality and without hypocrisy." God's word is sufficient in all areas of my life, including finances! Through this worldview and my extensive work with Dave Ramsey, I believe a faith-based Advisor will be able to advise families better about what the Bible has to say regarding finance. There is so much prescriptive teaching in the Bible that we can learn from to make a more significant Kingdom impact. The need certainly is great. In America, 7 out of 10 Americans are living paycheck to paycheck, and it isn't much better in the church. We know from recent trends that while wealth is growing in America, it's concentrated in the hands of a few. That’s not to say anything is structurally wrong other than our poor financial habits. Most 65-year-olds today are not financially independent, and the assets they own, they haven't even directed to who would receive them when they die (no will), let alone thought about how they could make a Kingdom impact with them. Additionally, most Evangelical Christians in America don't have a Biblical worldview, which extends to their views about money. Because of this, many are not tithing to their local church, making it harder for the local church to fulfill its mission to make disciples. I don't say this to say we are defeated. Quite the opposite! This is why Kingdom Advisors like those at Whitaker-Myers Wealth Managers are so important. Just as the blood of the Lamb has redeemed us, we, as Kingdom Advisors, are here to redeem money and finance in the church through the wisdom of the Bible! As a Kingdom Advisor, it is our (Whitaker-Myers Wealth Managers) commitment to our clients, our community, and Christ that we live our lives from a Biblical worldview with a passion for delivering consistent biblical counsel and wisdom as a competent and skilled professional. Additionally, our team is qualified and becoming better prepared through designations like the CKA® (Certified Kingdom Advisor) in charitable giving and life counsel so that our impact can be multiplied across my hundreds of clients. As a Kingdom Advisor, we teach five basic principles of money, which are: Spend less than you earn Avoid the use of debt Build liquidity and margin Give generously Set long-term goals The underlying theme within all the principles is the mindset that God owns it all; thus, we make decisions with that in mind. This consistent process allows our clients to understand our advice clearly and as Dave Ramsey always says, “to be kind is to be clear.” It’s often said that to fail to plan is to plan to fail. However, when planning is done right, it helps our clients create consistent behavior. I’ve often said the best book for financial planning is the tortoise and the hare because one needs to be consistent over a long period like the tortoise. I, like you, am a fallen creature with many flaws. My wife would be the first to confirm this. However, as we continue to pray for you, our valued clients, would you continue to pray for us? Pray that we, through the power of the Holy Spirit and the Word of Christ, can add value to people's lives through the advice we give, the investments we make, and the impact we all together can have for the Kingdom of Christ.