Introduction If you’ve read our blog articles, visited our website, or watched our YouTube channel, you can probably surmise that we are all about the Ramsey Solutions  7 Baby Steps. We are committed to the Baby Steps because they work - I speak from personal experience, having gone through my own Baby Step Journey . One of the steps that I discuss frequently with clients is Baby Step 4: saving 15% of your income for retirement . Sounds simple, but there are better ways to achieve this than others. This article aims to provide a few different Baby Step 4 scenarios and the optimal way to structure retirement savings.   Recap of the Ramsey Solutions Baby Steps Step 1: Save $1,000 in a beginner emergency fund Step 2: Pay off all consumer debt using the debt snowball (smallest $ to largest $) (not including a mortgage) Step 3: Save 3-6 months of expenses in a fully funded emergency fund. Step 4: Save 15% of your income for retirement. Step 5: Save for your children’s college. Step 6: Pay your home off early. Step 7: Build wealth and give.   Credit: https://tinyurl.com/2f65asxd   Some FAQs When It Comes to Baby Step 4 Should I be saving 15% of my NET income or GROSS income? When we discuss saving 15% of your income, this refers to 15% of your gross income, not your take-home pay. One way to determine this is to add up your W-2 wages or refer to line 9 of the income section on your Form 1040 tax return.   Does my 401(k) or other employer-sponsored plan match count toward my 15% contribution? No. Your savings are your savings. If you have access to an employer match, that's essentially free money to add to your 15% savings.   Should I be saving more than 15%? This will depend on your goals, means, and discipline. Sometimes, people try to save more than 15% for retirement, which can harm their overall plan. You should follow the Baby Steps in order, and if there is money left to save after saving 15% for retirement, consider saving for your children’s college. Alternatively, if you don’t have children but own a home, make an extra payment to your mortgage. If these steps are all satisfied and you still have money to save, then saving in a brokerage account or maxing out your 401(k) or Roth IRA might make sense for your specific situation.   Should I complete Baby Steps 3 and 4 simultaneously? No. Baby Step 3 (fully funded emergency fund) is crucial to staying debt-free. Trying to tackle steps 3 and 4 more often than not ends in “something coming up,” and it sends you straight back to Baby Step 1.   Why shouldn’t I just save 15% of my income into my employer's 401(k)? Employer plans are great, but they limit you to the investments within the plan. Having an investment account outside of your plan, like a Roth IRA, opens your investment options to virtually any marketable security.   What is the order of savings for Baby Step 4? A simple rule of thumb for the order of retirement savings: Match beats Roth, Roth beats Pre-Tax .   Always start by contributing up to the match in an employer-sponsored plan. This is FREE MONEY!   Next, consider a Roth IRA, which is an account outside of your employer-sponsored plan. The funds added come from your checking or savings and have already had tax paid on those funds. The funds can be invested and grow tax-free, then withdrawn tax-free after age 59 ½. For 2025, you can save up to $7,000 ($8,000 for those aged 50 and above) in a Roth IRA per person. If you are married and file jointly, your spouse can also save up to $7,000 ($8,000 for those aged 50 and above) in their own Roth IRA.   If you have satisfied the match and maxed out your Roth IRAs, then you would return to your employer plan and increase your contributions to meet 15% of your gross household income.   I don’t have an employer plan, what now? Start with a Roth IRA. If you max out the Roth IRA option, consider a Taxable Brokerage Account to save the remaining funds. Taxable Brokerage accounts do not offer the tax-free growth that a Roth IRA does, and you would owe capital gains tax when you sell an investment, as well as potentially some interest and income tax each year, depending on the investments selected.   I make too much to contribute to a Roth IRA; what are my options now? If you do not have any funds in a Traditional IRA, you can use the backdoor Roth  contribution method. Essentially, you make a non-deductible contribution to a Traditional IRA and then convert it to a Roth IRA. This allows high-income earners to contribute to a Roth IRA even if they are not eligible to contribute directly to one. Alternatively, you could also save in a Taxable Brokerage Account.   Hypothetical Examples Now, let’s examine various Baby Step 4 scenarios and break down a savings plan.   Example 1: Single Professional with/ Employer Plan making $60,000/year In this hypothetical, let’s say this single professional makes $60,000 gross income per year and has access to a 401(k) with a 100% match up to 5% of salary through their employer.   $60,000 x 0.15 = $9,000 Savings Goal (15%) 5% goes to the 401(k) to get the full match or $3,000 $9,000-$3,000 = $6,000 left to satisfy 15% $6,000 goes into a Roth IRA   Example 2: Single Professional with/ No Employer Plan making $60,000/year In this hypothetical, let’s say this single professional makes $60,000 gross income but does not have an employer plan available to them.   $60,000 x 0.15 = $9,000 Savings Goal (15%) $7,000 goes into a Roth IRA $9,000-$7,000 = $2,000 left to satisfy 15% $2,000 goes into a Taxable Brokerage   Example 3: Single Professional with/ Employer Plan making $120,000/year In this hypothetical, let’s say this single professional makes $120,000 gross income per year and has access to a 401(k) with a 100% match up to 5% of salary through their employer.   $120,000 x 0.15 = $18,000 Savings Goal (15%) 5% goes to the 401(k) to get the full match or $6,000 $18,000-$6,000 = $12,000 left to satisfy 15% $7,000 goes into a Roth IRA $12,000-$7,000 = $5,000 left to satisfy 15% $5,000/$120,000 = 4.2% back to the 401(k) (increase 401(k) total savings to 9%)   Example 4: Married Couple filing jointly with/ Employer Plan making $120,000/year In this hypothetical scenario, let’s say a married couple has a single income of $120,000 gross per year and has access to a 401(k) plan with a 100% employer match up to 5% of their salary.   $120,000 x 0.15 = $18,000 Savings Goal (15%) 5% goes to the 401(k) to get the full match or $6,000 $18,000-$6,000 = $12,000 left to satisfy 15% $7,000 goes into a Roth IRA $5,000 remaining goes into a Roth IRA for the spouse   Example 5: Married Couple filing separately with/ Employer Plan making $120,000/year In this hypothetical scenario, let’s say this married couple has a total annual income of $120,000 ($60,000 each), gross, and both have access to a 401(k) with a 100% match up to 5% of their salary through their employer. However, they file separately.   $120,000 x 0.15 = $18,000 Savings Goal (15%) 5% goes to each of their 401(k) accounts to get the full match or $6,000 total between the two $18,000-$6,000 = $12,000 left to satisfy 15% Because they file separately, they make too much to contribute to Roth IRAs They would increase their 401(k) 10% to make each contribute 15%, or consider a Taxable Brokerage as a bridge account   Example 6: Married Couple filing jointly with/ No Employer Plan making $60,000/year In this hypothetical, let’s say this married couple files jointly, earns a gross income of $120,000, but does not have an employer-sponsored plan available to them.   $120,000 x 0.15 = $18,000 Savings Goal (15%) $7,000 goes into each Roth IRA, totaling $14,000 $18,000-$14,000 = $4,000 left to satisfy 15% $4,000 goes into a Taxable Brokerage   Conclusion As you have probably gathered from the above examples, many other scenarios can be created by reworking the math for each scenario. Keeping in mind that “Match beats Roth, Roth beats Pre-Tax” is a good starting point. Still, there are many nuances to finance, and having a professional in your corner can be an asset in avoiding common blunders when it comes to planning and investing. It is always recommended to consult with a financial advisor. If you do not have a financial advisor, please reach out to the team of financial advisors with Whitaker-Myers Wealth Managers . They have the heart of a teacher and are ready to listen to your questions and help get you on a path to fulfill your financial goals. This article is not meant to provide advice.

Managing Money Tammi and I have been avid fans of Dave Ramsey and Ramsey Solutions  for more than 30 years. We were married at age 20 and found ourselves in a challenging financial situation. Fortunately, we discovered Dave Ramsey, in fact, on a clearance rack cassette tape in an Indianapolis bookstore! We listened to his advice and were captivated; it changed our lives forever. This journey transformed our finances, our marriage, and redirected my professional career.   Today, I work as a Financial Advisor  at Whitaker-Myers Wealth Managers  and hold the additional designation of Certified Ramsey Solutions Master Financial Coach. Over the past 15+ years, I have had the privilege of helping many hundreds of clients with their money management and financial planning.   Many earn good incomes, yet we struggle to manage our God-given resources effectively. Who needs an effective budget and solid money management skills? We all do. A significant part of an effective budget is the Sinking Fund, which we use to pay for future needs and wants.    What is a Sinking Fund? Simply put, a sinking fund  is a strategic way to save money for future needs and wants.   Congratulations! You have completed baby steps 1 to 3. You have created a strong monthly budget, paid off your debt, and saved for your emergency fund. But how do you pay for future needs or wants? Some examples include car repairs and replacement, home repairs, clothing, gift-giving (for birthdays or holidays), medical co-pays, and more. We coach clients to build future needs and wants into their strong monthly budget. With summer just around the corner, and vacations on many people’s minds, let’s use vacation planning as an example of a future want.   How does our family go on a weekly vacation each year?  To help you get started on your vacation sinking fund experience, I share how my family has developed our plan for a vacation sinking fund.   First, our family creates a vacation plan together and executes it together.   I encourage you to start with a “staycation” the first few years as you get your budget in line, pay off debt, and establish your emergency fund. This “staycation” means taking advantage of free local attractions, such as state parks, while you save for your initial “going away” vacation budget. Have a conversation with your spouse or family members and decide on an agreed-upon amount to save monthly to achieve your desired vacation budgeting goal. For reference, our family chose to begin with two years of staycations while we built our initial vacation budget.   Once you have established your vacation fund, create a thoughtful plan together. Start by setting aside your travel expenses, such as gas and meals, for the trip to and from your destination. Next, outline a daily spending plan.   My family was accustomed to using the envelope system and applied it to our vacation. We placed a certain amount per day into an envelope, which we used to track and control our spending on activities, meals, and souvenirs.    An essential part of our plan is to go grocery shopping as soon as possible upon arrival at our destination to help reduce our weekly food costs. However, this is a suggestion, not a rule that you have to follow, as long as you build all food costs into your overall vacation sinking fund number.   We know everyone will be hungry, so we try to plan accordingly. Typically, we only purchase food for snacks and meals that will cover the first few days of our stay, which helps us avoid overspending on food. Remember, you can always return to the store and buy more as needed, but you can’t return uneaten food.   We also plan our daily activities, expenditures, and souvenir purchases in advance, gathering everyone’s input to make the vacation as meaningful as possible. This approach is a great way to have fun while staying on a budget.   Finally, we have learned from our vacation planning experiences and make yearly improvements. I highly encourage that this step not be skipped!   I’d like for you to know that it is possible to experience guilt-free spending, freedom, and peace while vacationing. Most importantly, you can have fun making memories with your family and friends!   Would You Like to Learn More Effective Money Management Ideas? As I mentioned earlier, one of my primary goals as a Financial Advisor is to help clients manage their finances more effectively. If you’d like to explore more, please use my calendar link  to schedule a complimentary session.

Over the last four years, you may have heard the many warnings of an impending recession. Despite media outcry, a recession has yet to hit, with a brief exception at the height of the pandemic. With the recent market volatility, primarily induced by current trade policy, let’s answer some of the questions we commonly hear regarding the word “recession.”     What is a recession? In short, a recession is defined as a period of economic decline. This means that rather than growing, the economy is shrinking. When an economy is shrinking, it means that consumers and businesses are spending less money. A more fiscally conservative approach sweeps across the nation as uncertainty leads people to pull back and focus on the bare essentials. The ripple effect can be wide as companies lay off employees and demand decreases for goods, bringing prices down. This can also mean investor sentiment declines and money floods out of equities and into less volatile investments like bonds .   What are some of the indicators of a recession? GDP: Gross Domestic Product is the total value of goods and services produced in a country during a year. This number can fluctuate, and a decrease in GDP is a primary indicator of a recession. A common measure of whether a country has entered a recession is two consecutive quarters of declining GDP. While it is a key indicator, it is by no means the only factor to consider.   It’s important to note that we likely won’t know we are in the midst of a recession while it's happening. GDP helps economists look back at what has taken place in the economy. When we look back, we’ll realize what we lived through, which brings to mind a poignant moment from The Office, when Andy Bernard says , “I wish there were a way to know you were in the good old days before you actually left them.” While a recession isn’t exactly “the good old days”, it’s the retrospective lens that allows us to see a moment in a way we simply can’t in the present. In other words, the lagging indicators are the ones that reveal the reality of a recession.   What are lagging indicators? While leading indicators  predict economic events and conditions, lagging indicators  are economic data points that pivot after the conditions of the economy have already changed, much like a tornado warning confirms that a storm is already underway. Lagging indicators would include things like interest rates, earnings from corporations, and the unemployment rate. The presence of these things alone does not mean a recession has taken place, but they do help paint the broader picture.   What will a recession mean for my investments? As mentioned above, a recession can mean that investors pull their money out of the stock market and put it in places subject to less volatility. In a recession, many investors are scared to stay invested and/or put more money into the market. In reality, as the value of investments drops, it presents an opportunity to “buy low.” That being said, everyone’s situation is different, so consult with a financial professional to see what is right for you when it comes to investing in a recession.   Despite what the pundits may be saying, we don’t know if a recession is coming, and there is really no good way to know for sure either, until we look back in time. Historically speaking, the market and the economy have always recovered from recessionary territory.   If you have questions about investing, reach out to your financial advisor to discuss these questions. Our team of advisors is always willing to help and offer guidance to reach your financial goals.

At first glance, these two ideas—getting rich and building wealth—might seem synonymous. After all, don’t both imply having a lot of money? However, as any seasoned financial advisor will tell you, there is a critical distinction not only in the definitions of these terms but, more importantly, in the mindset they represent. Understanding Wealth vs. Riches Let’s begin by defining wealth. According to Britannica , wealth encompasses the total value of an individual’s property, possessions, and financial holdings. A more precise financial definition, however, subtracts liabilities—what you owe—from your assets to determine your net worth. That’s the truest measure of wealth. Contrast that with the more casual definition of being “rich,” which often focuses simply on high income or large sums of liquid cash. Culturally, the image of a rich person is often associated with lavish lifestyles, big spending, and high-profile purchases. But high income does not automatically translate to lasting wealth—especially if it’s coupled with poor financial habits. Tangible Assets vs. Liquid Wealth Wealth is typically characterized by tangible and appreciating assets: real estate, business interests, precious metals, and investment portfolios. Those who focus on building wealth generally prioritize asset accumulation, diversification, and long-term value. Conversely, a “get-rich” mindset often prioritizes liquidity and immediacy—cash in the bank, flashy purchases, and sudden windfalls. The issue? This approach leaves little margin for error and can quickly evaporate under financial pressure. As Proverbs 13:11 wisely states, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.”  The pursuit of lasting financial security requires discipline, not shortcuts. A Strategy for Building Wealth A foundational strategy for long-term wealth is to invest early and consistently. For instance, purchasing a home early in adulthood often becomes the first major asset in a person’s portfolio. From there, modest but consistent surplus income—perhaps a few thousand dollars here and there—can be used to invest in: Diversified stock or mutual fund portfolios Real estate Small business ventures By your 30s or 40s, many individuals can begin branching out—acquiring rental properties, launching a side business, or increasing their exposure to alternative asset classes. Simultaneously, retirement savings through 401(k)s, IRAs, and brokerage accounts should be steadily built and maintained. A diversified portfolio not only enhances your potential for growth but also provides protection during economic downturns. For example, if a market correction occurs six months before retirement and you're overexposed to stocks without sufficient cash reserves, you could be forced to sell at a loss. However, if your portfolio includes real estate income, commodities, or other alternative income streams, you’ve built a buffer against such volatility. The Cost of a “Get-Rich” Mindset A fixation on quick wealth often leads to financial instability. Studies show that 70% of lottery winners are broke within three to five years. Similarly, professional athletes and entertainers who experience overnight success often find themselves struggling financially within a few years of retiring. Why? Because sudden riches without financial literacy, discipline, and long-term planning are unsustainable. By contrast, those who build wealth slowly develop essential character traits along the way—patience, discipline, humility, and self-control—traits highlighted in Galatians 5:22-23 and respected by individuals of all backgrounds and beliefs. The Silent Millionaire The most financially secure individuals rarely flaunt their success. As illustrated in The Millionaire Next Door , they live below their means, invest wisely, and avoid impulsive financial decisions. Meanwhile, individuals chasing the appearance of wealth often prioritize image over substance. Life Lessons in Discipline This principle isn’t limited to finance. Consider weight loss or physical fitness—quick fixes often lead to temporary results. True transformation happens through consistent, disciplined effort over time. The same applies to financial well-being. Whether it’s someone using steroids to gain muscle fast or crash dieting to shed pounds, these shortcuts are unsustainable and often harmful. Similarly, high-risk “hot” investments—unverified stock tips, unresearched real estate, or speculative collectibles—can lead to disappointment and loss. Discipline wins in the long run. Have a Plan, Not a Fantasy The get-rich mindset often lacks strategy. It’s reactive, emotionally driven, and rooted in impulse: “Spend now, think later.” In contrast, the wealth-building mindset is proactive. As Luke 14:28 advises: “For which of you, wanting to build a tower, doesn’t first sit down and calculate the cost to see if he has enough to complete it?” This mindset involves: Doing the research Educating yourself Seeking counsel Counting the cost Taking measured action Many people get stuck in “analysis paralysis,” saying things like “I almost invested in that property”  or “I considered buying that stock.”  Often, fear of failure holds them back. But the Bible reminds us not to fear or worry—365 times in fact. Eventually, you must act in faith and take calculated risks if you hope to grow your wealth. Final Thoughts: Gratification Deferred, Wisdom Gained One key differentiator between getting rich and building wealth is delayed gratification. We’re not discouraging dreams of a vacation home or a classic car. Dream boldly—but pursue those dreams in the right time and in the right order. With time and maturity, many people realize that the impulses they once felt so strongly fade with perspective. Waiting often brings clarity—and better decisions. It’s also crucial to distinguish between legitimate wealth-building opportunities and reckless gambles disguised as “investments.” Not all investments are created equal. A friend’s “can’t-miss” penny stock tip, a sight-unseen real estate flip, or a trendy collectible with no history of value are often more risk than reward. Mistakes will happen. Even the most successful investors stumble. But what sets wealth builders apart is that they learn, adjust, and continue moving forward with discipline and purpose. Let’s Build Together At Whitaker-Myers Wealth Managers , we’re committed to helping you take the long view—recognizing the dangers of a get-rich-quick mentality and guiding you toward sustainable, lasting financial success. You don’t need to chase riches. You can build wealth—steadily, intentionally, and with wisdom. And our team of financial advisors would be honored to partner with you on that journey.

How investor psychology influences decisions, especially during market volatility  In the world of investing, logic and data often take center stage. However, even the most seasoned investors can fall prey to emotions, instincts, and cognitive shortcuts that cloud judgment, especially during periods of market volatility . These psychological tendencies, known as behavioral biases, can lead to decisions that may not align with long-term financial goals.   Understanding these biases is a crucial step toward becoming a more disciplined and confident investor. Let’s explore some of the most common behavioral biases and how they might impact investment decisions.   Loss Aversion Most investors feel the pain of losses more intensely than the pleasure of equivalent gains. This can lead to overly conservative decision-making or panic selling when markets dip. For example, during a downturn, an investor might sell assets at a loss to avoid further decline, missing the potential for recovery.   Tip: Keep a long-term perspective and remember that market fluctuations are a normal part of investing.   Herd Mentality Following the crowd can be comforting, but it often results in buying high and selling low. Investors may rush into popular stocks or sectors simply because others are doing the same, especially when headlines fuel fear or euphoria.   Tip: Focus on your personal financial plan and risk tolerance rather than short-term trends or popular opinion.   Overconfidence Investors who believe they can consistently “beat the market”  may take on excessive risk or trade too frequently. This can lead to higher costs and lower returns over time.   Tip:   Diversification and discipline typically outperform frequent trading and market timing over the long run.   Recency Bias This occurs when investors place too much weight on recent events, such as a market rally or a crash, and assume those patterns will continue indefinitely.   Tip: Historical perspective and a balanced portfolio can help counteract emotional reactions to short-term news.   Anchoring Investors often fixate on a specific price point, such as the price they paid for a stock, and base decisions around it, rather than its current value or future potential.   Tip: Re-evaluate investments based on fundamentals and your overall strategy, not arbitrary price points.   Turning Awareness into Action Recognizing these biases is the first step; managing them is the next. Here’s how to stay grounded: Have a plan:  A well-defined financial plan provides a roadmap and helps guide decisions when emotions run high. Work with a professional:  An advisor can act as a sounding board and help keep your investment strategy on track. Review regularly:  Periodic check-ins help you stay aligned with your goals and make adjustments based on data, not emotions.   Final Thoughts Behavioral biases are part of human nature, but they don’t have to control your investment outcomes. With awareness, education, and support, you can navigate volatility with confidence and stay focused on what matters most: achieving your long-term financial goals. Want to talk more about your plan or how to manage through uncertainty? Connect with one of our SmartVestor Pros .

Concerns that a trade war could lead to a recession have rippled across global markets. Investors have been watching closely as China responded to recent U.S. trade actions with retaliatory tariffs, increasing the perceived risk of a full-scale economic standoff. As a result, markets in Asia and Europe declined alongside U.S. equities, and we’ve seen a familiar “flight to safety,” with bond prices rising and yields falling. However, on April 9th, 2025, the landscape shifted dramatically. In a surprise move, President Trump announced a pause on all tariffs except those targeting China—a decision that immediately changed the tone of the markets. I was on the phone with a client at that very moment, reassuring her that, in my view, an inflection point could come at any time, and when it did, we could see a sharp, unexpected rally. As our call wrapped up, I paused and said, “Something just happened—and it’s big.” The market had erupted into a massive rally right around 1 p.m., validating the very scenario we had just discussed. This moment serves as a powerful reminder: markets don’t wait for clarity—they respond to it in real time. Investors who remain disciplined and long-term focused are often the ones best positioned to benefit when sentiment and policy shift unexpectedly. Despite the rally, we don't know what tomorrow holds. My favorite verse I quote is from Ecclesiastes 11:2 - "Divide your portion to seven, yes even to eight, for you do not know what calamity may come upon the earth." So in light of the NCAA tournament that saw UCONN win a national championship on the women's side and Florida take home the prize on the men's side - let's talk about why your portfolio, much like these two impressive basketball teams, needs to be excellent in both it's offense and it's defense. Portfolio balance and financial planning are even more important today In sports, as well as investing, a winning strategy requires a combination of both offense and defense. Defense involves maintaining a portfolio that can withstand different phases of the market cycle. Stock market uncertainty and unexpected life events are inevitable, so always being ready to play defense is important. Going back to Feb 19th, while the stock market cratered, the bond market's return (using the Vanguard Total Bond Fund ETF "BND" ) was +0.83%. Comparatively, the S&P 500 returned -18.76%, the Nasdaq Composite Returned -23.77%, and the Russell 2000 returned -22.62% over that same period. That is the definition of lockdown defense. Offense, on the other hand, involves taking advantage of market opportunities that emerge from changing conditions. The irony is that while periods of market uncertainty may be unpleasant, they also represent times when asset prices and valuations are the most attractive. Ultimately, portfolios that are tailored toward financial goals need both offense and defense. How can investors position in today’s market environment to both protect from risk and take advantage of opportunities? Two of the key principles of long-term investing are diversification and maintaining a long time horizon. This is showcased in the accompanying chart which depicts the range of historical outcomes across stocks, bonds, and diversified portfolios. It also shows how these ranges change when time horizons are increased. For instance, it’s easy to see that over just one-year periods, the stock market can vary significantly, from gaining 60% in 1983 when the market recovered from stagflation fears, to -41% during the global financial crisis. Moving beyond just one-year periods and a stock-only portfolio underscores why these are powerful ways to think about investing and financial planning. Diversifying might reduce the maximum returns an investor can experience, but it also reduces risk. This is evident in the balanced portfolio consisting of 60% stocks and 40% bonds. So far this year, the S&P 500 is 13% lower, but a 60/40 mix of these indices has declined only 4.6%. After all, the goal is not simply to grow a portfolio at the fastest but most volatile rate, but to have the highest possible probability of achieving your financial goals. A diversified portfolio historically has a much narrower range of outcomes, allowing investors to better plan toward their goals. Similarly, extending your time horizon by even a few years can have a significant impact on the range of outcomes. History shows that, since World War II, there has not been a 20-year period in which any of these assets and portfolios have experienced annual declines, on average. The same is true over 10-year periods for many diversified asset allocations. While this is only illustrative and is no guarantee of future performance, it clearly shows the importance of thinking long-term. Volatility can create opportunities What about market opportunities? The accompanying chart shows that the VIX index, often known as the stock market’s “fear gauge,” can spike on a periodic basis. These peaks correspond to sharp drops in the market, such as in 2008 or 2020. These are times when markets are the most nervous and, in many cases, investors feel as if the situation will never stabilize. This chart, which is similar to a chart I showed on my recent YouTube Video , also shows the returns of the S&P 500 over the next year. As we discussed above, there is never any certainty about returns over any single year for the stock market. However, it’s clear that the greatest market opportunities often emerge when investors are the most worried. This is the heart of the famous Warren Buffett quote to “be fearful when others are greedy, and greedy when others are fearful.” This is especially true when markets face liquidity concerns rather than solvency issues. Liquidity problems arise when market downturns force leveraged investors—those using borrowed money—to sell off assets to cover their positions. This often leads to price declines even when the fundamentals of the asset remain solid. It’s a prime example of how short-term market moves can become disconnected from long-term realities, creating unique opportunities for patient, disciplined investors. As Dave Ramsey teaches, we should stay far away from debt—both personal debt and margin debt—because borrowing to invest adds unnecessary risk and can force investors into painful decisions during volatile markets. It's important to note that this is not an argument for market timing. Even when the VIX is high, there is no guarantee that markets will rebound quickly. Instead, investors should view this as additional support for taking a portfolio perspective. Market downturns often occur when valuations are the most attractive, and thus, it can make sense to shift toward – not away – from these assets. Of course, what makes sense for a given portfolio depends on the specific circumstances. Really, the most prudent scenario may be - just build a plan (baby step 4) and execute it. You'll probably execute it in good times and bad times, and that'll lead to some excellent entry points in your investment portfolio. Valuations are more attractive today So, which assets have helped this year, and which are more attractive today? Bonds have played an important role this year as interest rates have fallen, helping to balance portfolios and partially offset declines in other asset classes. Bonds are able to do this because they typically exhibit lower volatility than stocks and often move in the opposite direction. For this reason, investors often say that “bonds zig when stocks zag.” Holding the right balance of “uncorrelated” assets helps investors prepare for challenging times. Valuations, while potentially stretched for the S&P 500 (nearly 20X), which is why we recommend a more balanced and valuation-focused approach to your S&P 500 exposure, or growth and growth & income in Dave Ramsey's Vernacular , the valuations of the Russell 2000 (Aggressive Growth) are around 14X earnings, and the valuations of the MSCI EAFE (International) are around 14X, providing historically good ten-year forward-looking returns when you buy stocks at those (Russell & MSCI EAFE) valuation points. Indeed, they are more attractive today after this recent drawdown. While it is still unclear where earnings will settle after accounting for tariffs, we should get insight very soon as earnings season kicked off with Delta Airlines today, and Friday will include the big banks (JP Morgan, Citi, Wells Fargo). Some sectors, such as Information Technology, Communication Services, and Consumer Discretionary, have seen multiples decline more amid the broader pullback. Interestingly, assets such as gold, which often serve as safe havens, have struggled more recently. Gold prices rose to new all-time highs earlier this year, resulting in double-digit returns over the past year. Investors are typically drawn to this asset class for many of the same reasons they are interested in bonds – it can serve as a store of value in times of uncertainty. However, gold prices have also retreated as economic fears have weighed on all commodities. This highlights the importance of not focusing only on a single asset class, but viewing it from a holistic portfolio perspective. The bottom line? Offense and defense are both important in times of market uncertainty. They help investors manage risk and take advantage of attractive opportunities that may emerge

Have you ever noticed that licensed professionals like tax advisors, doctors, attorneys, or dentists proudly display their designations after their name (CPA, MD, DDS, or Esq)?  These titles can provide instant assurance of their qualifications.  However, when it comes to financial advisors, the initials after their name can be a head-scratching alphabet soup.  You may see any of the following CFP® , CFA, ChFC, CLU, CIMA, Series 65, Series 7, etc. Each has its own significance and certification, but are some better than others to have?   The Designation Has Meaning Not all financial designations are created equal, and that’s where the CERTIFIED FINANCIAL PLANNER® (CFP®) certification stands apart.    Backed by a nonprofit organization, the CFP Board  ensures that financial planners are competent, ethical, and committed to putting your best interests first.  The CFP Board highlights the often confusing landscape of financial advisor titles in lighthearted commercials.  It’s a humorous point, but a serious point nonetheless.  With three CFP® practitioners on the Whitaker-Myers Wealth Managers Team , here are 10 reasons we feel why hiring a CERTIFIED FINANCIAL PLANNER® professional is one of the smartest financial decisions you can make:   Top 10 reasons to hire a CFP® Professional 1.      Fiduciary Responsibility A CFP® professional is required to act in your best interest at all times as a fiduciary with no hidden agendas or conflicts of interest.   2.      Ethical Standards A CFP®  professional must adhere to a strict code of ethics and is held accountable by the CFP Board .  The seven major principles required to abide by are: Integrity, Objectivity, Competence, Fairness, Confidentiality, Professionalism, and Diligence.   3.      Education and Training A CFP® professional must have at least a bachelor’s degree, over 6000 hours of professional experience, and have passed a rigorous exam requiring extensive preparation.   4.      Holistic Financial Planning While other designations have expertise in specific areas, a CFP® professional takes a comprehensive approach to your plan, including retirement, investing, budgeting, insurance, tax, and estate planning.   5.      Trusted Industry Reputation The CFP® certification is recognized as the standard amongst financial planners.  It is viewed by the financial planning world as the top designation to hold because of its holistic knowledge, standard of excellence, and ethical standards.   6.      Objective Advice Advisors may be incentivized by commission-based products, like annuities, for example.  This could potentially lead to a client ending up with a product that they don’t need or comprehend.  A CFP® professional will take the time to make sure you understand what your dollars are invested in and why they recommend each product.   7.      The CFP Board Like the American Medical Association for physicians and the American Bar Association for attorneys, they have a high standard for their professionals and hold the power to revoke the designation from a CFP® certificant. They field consumer complaints about their members to ensure they are still worthy of using the designation. When your advisor says they are the best fit for you, is it just their word or a national board backing them up on that claim?   8.      Change Happens A CFP® professional has to stay up-to-date with these changes and the economy continually. Having a professional with a constantly updated body of knowledge is essential to keep your finances up-to-date.   9.      Peace of Mind A CFP® professional will help navigate complex financial decisions, reassuring you that your money is being managed wisely and your future is on the right track.   10.  Dedication The CFP® exam is known to be challenging and time-consuming due to its rigorous curriculum and low pass rate.  This deters many advisors from taking it, but those who do earn their CFP® mark demonstrate a commitment to expertise and knowledge that extends to a career of dedication to their clients.      Choosing the right financial advisor  can significantly impact your financial future.  While there are countless titles and certifications, a CFP® practitioner stands out for their extensive knowledge, ethical obligations, and commitment to putting your best interests first.  The ideal client-advisor relationship should last for decades,  yet it is wise to compare your options periodically  to ensure your plan is in the right hands.    Our experienced team at Whitaker-Myers Wealth Managers  focuses on building holistic and customized plans for individuals.  With some of our advisors having earned the credentialed CFP® certification, or others currently pursuing the designation, we would be honored to serve you on your financial journey .

We learned last week that Treasury Secretary Scott Bessent and United States Trade Representative Jamieson Greer were going to meet with a senior-level Chinese official in Switzerland to begin dialogues around trade negotiations. President Trump tweeted on Friday that 80% tariffs might be reasonable, setting the stage for a possible outcome of this meeting, and then news broke last night that progress was made and most of the tariffs would be paused. My guess was that markets would be soaring once the Sunday night futures opened, which was validated, and with that, all tariff-related losses have been erased. If you watched my video from earlier in April titled "The Markets Down, Now What?" , I pointed out with the help of Vanguard that most geopolitical stock market shocks are resolved quickly. Is this over? No, but it sure feels like it's trending in the correct direction. The recent trade announcement between the U.S. and China reverses many of the tariffs that rattled financial markets beginning in April. This agreement, which lasts 90 days, lowers U.S. tariff rates on China from 145% to 30%, and China’s rates on U.S. goods to 10%. Along with tariff pauses on other trading partners, and a newly announced trade deal with the U.K., markets are hopeful that a drawn-out trade war is now off the table. What does this changing market narrative mean for long-term investors? What markets dislike most are uncertainty and negative surprises. This is because markets often react to the worst-case scenarios immediately and adjust as more information becomes available. While the unexpected size and scope of the April 2 tariffs sparked a sharp market downturn, the recovery over the past several weeks has also been swift. Markets are close to where they started the year and slightly above their pre-April 2 tariff announcement levels. This is a pattern that follows many other historical examples in which recoveries can occur once there is greater clarity. Recent events are another reminder that maintaining a long-term investment perspective is important during periods of uncertainty. The U.S.-China agreement is a positive sign a broader deal can be reached Current total tariff rates and announced April 2nd reciprocal tariffs The latest tariff agreement between the U.S. and China is positive because it removes a significant source of market uncertainty. It sets the U.S. reciprocal tariff on Chinese goods to 10% while maintaining the 20% tariff related to the fentanyl crisis put in place earlier this year. While the situation is still evolving, this agreement paves the way for a longer-term trade deal between the world’s two largest economies and de-escalates tensions. So, while tariff rates are higher than in the past, the worst-case scenario is now less likely. With the benefit of hindsight, recent events mirror the trade tensions in 2018 and 2019 during the first Trump administration. In both cases, the administration’s goal has been to achieve new trade deals by using tariffs as a negotiating tool, with the stated aim of closing the U.S. trade deficit with major trading partners. Five years ago, this resulted in the “Phase One” trade agreement with China, the USMCA (United States-Mexico-Canada Agreement), and other deals. There are many intertwined objectives in these trade policies, including a focus on manufacturing jobs, protecting intellectual property, controlling immigration, and more. Today, the key difference is that the administration has gone much further with tariff threats than many investors and economists had anticipated. Still, the recently announced trade deal between the U.S. and the U.K. is evidence that previous patterns may apply here as well. That agreement sets a baseline 10% tariff rate on U.K. goods, with specific provisions allowing up to 100,000 imported cars at this level as well as exemptions for steel and aluminum. The economy has been resilient despite trade uncertainty Quarterly GDP growth rate (SAAR) and contributions Of course, new trade deals with China and many other countries are not yet final, and day-to-day headlines could continue to drive market swings, especially if previous tariff pauses expire. An important reason markets have focused so heavily on tariffs is the impact on inflation and economic growth. This was reflected in the first quarter’s GDP figure which showed a slight economic contraction as businesses stockpiled imported goods ahead of tariff deadlines. Greater clarity will likely help both consumers and businesses. In this environment, what else could go right? First, many economic indicators remain solid. The latest jobs report showed the economy added 177,000 positions in April, above expectations of 138,000. The unemployment rate held steady at 4.2%, continuing a period of stability that began last May. The strong job market helps to offset concerns that tariffs and uncertainty will impact consumer spending. Meanwhile, inflation continues its gradual deceleration toward the Fed's 2% target, with the latest Consumer Price Index figure coming in at 2.4% year-over-year. This deceleration has been supported by falling oil prices which recently reached four-year lows. Cheaper oil, driven in part by tariff-related volatility, helps to lower costs for consumers and can be a boost to the economy, all things equal. The recent U.S.-China agreement also reduces the pressure for immediate Fed policy changes. Market-based measures still expect the Fed to cut rates further this year, but these expectations have fallen to only two or three cuts, possibly beginning in July or September. The Fed, which recently kept rates steady between 4.25% and 4.5%, appears to be taking a “wait-and-see” approach, rather than reacting to near-term trade, market, and economic news. Market recoveries often occur when they’re least expected S&P 500 total returns since World War 2 While there are still many risks to the market, the last several weeks show how quickly the narrative can change. By their very nature, markets anticipate worst-case scenarios. During times of negative headlines and market pullbacks, it’s difficult to imagine that the market will ever recover. So, while understanding risks is always prudent, it should not come at the expense of long-term portfolio positioning. The accompanying chart shows how market corrections have behaved since World War II. While the average correction experiences a decline of 14%, it often recovers in as little as four months. Most importantly, it can often rebound when it’s least expected, as we’ve experienced following recent progress on trade negotiations. Those investors who overreact to early signs of volatility may find that they are not appropriately positioned, especially with respect to their financial goals. Finally, while markets are surging on news of the paused tariffs and improving trade negotiations, it's a timely reminder of a key Dave Ramsey principle: don't let fear drive your financial decisions. Just as Ramsey warns against reacting emotionally to debt or market hype, long-term investors should avoid panicking in the face of volatility. The recent market correction—swiftly followed by recovery—proves once again that staying the course, much like sticking to a debt-free plan or emergency fund strategy, positions you to weather storms and come out stronger. Ramsey often says, “Live like no one else now, so later you can live and give like no one else,” and that includes staying invested and focused even when headlines stir short-term anxiety. The bottom line? The latest U.S.-China trade announcement has lowered market uncertainty and recession concerns. For long-term investors, this reinforces the value of maintaining perspective during periods of market turbulence rather than reacting to short-term volatility. Have a plan, stick to your plan and when market uncertainty presents itself, should you have the desire to do something, talk to your Financial Advisor.

A few weeks ago, one of our excellent Financial Advisors, Jake Buckwalter , wrote a piece titled, The U.S. National Debt - Can it be Fixed? You can read that article here . The article inspired me, partly because I, too, have been thinking a lot about the national debt. There really isn't anything one person can do to try and fix this, and if there were one, he (Elon Musk) and the President are currently on a time-out with each other. However, it's my job to be optimistic and find the path forward even in bad situations. If the worst-case scenario plays out, it doesn't matter what advice I or Ray Dalio (the guy that got one big crash right and has been calling for more and more ever since) tell you, you're financially screwed! To be clear, economically and spiritually are two very different things, and that, my friends, is the actual safe harbor in the midst of the US collapsing because of its debt situation. Make sure today, yes today, that your relationship is right with Jesus Christ - that He is the reason your sins have been atoned - but I promise you, I highly doubt He will save you financially if the US government collapses, and that's ok - read Romans 8:28 - you probably already have and put it to memory like I have. So, back to being optimistic. It's my job to point you to the way that this all becomes ok for your kids and grandkids because most likely it's not a baby boomer problem. So, how does the famous Winston Churchill saying, "You can depend on Americans to do the right thing. But only after they have exhausted every other possibility," come to reality regarding the US debt situation? As Jake mentioned two weeks ago, news headlines are flashing with figures like $36 trillion in national debt and a 120% debt-to-GDP ratio; it’s easy to assume the United States is on the brink of a fiscal crisis. But dig deeper, and you’ll find a powerful counter-narrative: a bull case for America’s debt position that draws from the strength of our national assets, global leadership, and future productivity. 1. America’s Hidden Balance Sheet: More Than Just Liabilities Yes, debt is high. But we often forget the other side of the ledger. Only once in a conversation with my favorite private equity folks have I actually heard someone even bring this up. Why? Probably because this doesn't sell on CNBC and Fox Business. As Jake mentioned, our debt situation is like having a $75,000 income and a $500,000 load of debt. That's kinda crazy - although because the US is not a household and is a sovereign nation, some would argue it's not a good comparison because a sovereign nation technically never needs to save for retirement, pay down debt (just stop taking more out), amongst other significant differences. But then it's also like saying we have $1,000,000 of assets as well. It might be painful to release those assets, maybe they are better utilized (rent), monetized (oil & gas leases), or, if nothing else, just sold for housing (we are so short on housing and we need land to develop for housing). Just don't forget that all these assets below are significant in terms of their value. The United States holds an extraordinary set of tangible and strategic assets: Federal Land : Over 640 million acres of federally owned land, including energy-rich territories. Infrastructure : World-class highways, ports, and energy grids. Military Superiority : A global strategic asset that underpins international trade and reserve currency status. Intellectual Property : The U.S. dominates in patents, innovation, biotech, and semiconductors. These are real economic moats. They aren't all listed on a government balance sheet, but they add enormous intrinsic value to the country's long-term fiscal health. 2. The Coming AI Productivity Boom According to analysts like Tom Lee of FS Insights and Dan Ives of Wedbush Securities , the U.S. is on the cusp of an economic transformation driven by artificial intelligence. In a few short years, you're going to have a Tesla Optimus that will wash your dishes, tidy your bedroom, mow your lawn, replace your oil, and maybe provide companionship to those who need it. This is real Star Wars-type stuff here, and I'm not kidding, it's gonna be here before my daughter graduates high school (she is a freshman). How many of you, like me, actually enjoy flying because you can be productive (I won't lie, sometimes entertained) while traveling. What if your hour to and from work commute was now productivity time, because of self-driving? Take a trip to a place like Phoenix, and you'll see the future in action as self-driving cars are already shuffling us around. AI is not just a Silicon Valley talking point. It has real potential to: Automate white-collar work Raise GDP by 0.5% to 1.5% annually Improve corporate margins and tax receipts Much like the internet boom of the 1990s, AI could usher in a new productivity cycle that helps us grow out of our debt load. 3. The Dollar Remains the Global Reserve Currency Despite America’s debt, the world still trusts the U.S. dollar: It accounts for roughly 60% of global foreign exchange reserves U.S. Treasuries remain the safest and most liquid assets globally In times of crisis, money flows into  the U.S., not out This gives the U.S. an unparalleled borrowing advantage and flexibility that other nations simply don’t have. 4. Debt Service Is Still Manageable Even with higher interest rates, debt service costs remain around 3.1% of GDP, far below levels seen in the 1980s. Much of our debt was issued at low interest rates and locked in for the long term, giving us breathing room and time to figure this out. This is not a crisis today as some would have you think (I'm looking at you, Rand Paul), but fiscal discipline does need to reenter the halls of Congress. As inflation cools and rates normalize, the cost of servicing debt could stabilize or even decline. 5. Nominal GDP Growth and Policy Adaptation Post-COVID fiscal numbers are distorted by extraordinary stimulus spending. As the economy normalizes, tax revenues improve, and nominal GDP continues to grow, the debt-to-GDP ratio could plateau or decline without drastic policy shifts. The government also has options: spending restraint, revenue adjustments, or reforming entitlements. America’s adaptability is one of its greatest fiscal strengths. In Summary: A Nation Positioned for Resilience The debt is large, but so is the U.S. economy’s capacity to innovate, adapt, and grow. With unmatched assets, a dominant global currency, and the potential for an AI-driven productivity renaissance, the bull case for America’s debt position is real. This doesn’t mean we ignore fiscal responsibility. But it does mean we can view our nation’s debt through a more balanced and hopeful lens—one that prioritizes growth, innovation, and intelligent policy over fear. Proverbs 21:5 tells us, "The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty". I was in Atlanta a few months ago and, by way of chance, got to listen to a former Clinton finance cabinet member. He said, "You know how we balanced the budget under President Clinton? We just stopped spending more and let the economy catch up." Sentor Ron Johnson, is asking the right questions, how and why are we not able to return to a 2020 level of spending, considering the tremendous growth in tax receiopts we've seen since then? He says we need to sit down, go line by line, and spend time figuring this out, and stop passing bills we never read. Wow - passing bills you never read (because they are too long and given just hours before a vote) seems to be the definition of "everyone who is hasty comes only to poverty". Isaiah 33:6, "He will be the sure foundation for your times, a rich store of salvation and wisdom and knowledge; the fear of the Lord is the key to this treasure"

Whitaker-Myers Wealth Managers proudly announces that Kelly Taylor , our esteemed Chief Compliance Officer, has earned the Investment Adviser Certified Compliance Professional (IACCP®) designation. This achievement underscores Kelly's dedication to upholding the highest standards of regulatory compliance and her unwavering commitment to our clients' best interests. The IACCP® designation, co-sponsored by COMPLY and the Investment Adviser Association (IAA), is a prestigious credential for compliance professionals in the investment advisory industry. To attain this designation, candidates must complete 17 required compliance courses, 3 elective courses, submit an ethics assessment and statement, possess two years of relevant work experience, and pass a certifying examination . This rigorous program ensures that designees have a comprehensive understanding of investment adviser regulatory obligations and best practices. Kelly has been Whitaker-Myers Wealth Manager's longest-standing Chief Compliance Officer and is respected by her peers and coworkers. Her expertise and leadership have been instrumental in developing and maintaining our firm's robust compliance program. Earning the IACCP® designation further enhances her ability to navigate the complex regulatory landscape and reinforces our firm's commitment to a culture of compliance. At Whitaker-Myers Wealth Managers, we believe that a strong compliance framework is essential to delivering exceptional service to our clients. Our dedicated compliance team, led by Kelly, ensures that we adhere to all SEC regulations and industry best practices. This proactive approach to compliance allows us to focus on our clients' financial goals with confidence, knowing that we are operating with integrity and transparency. We congratulate Kelly Taylor on this significant accomplishment and look forward to her continued contributions to our firm's success and our clients' trust.

We are thrilled to announce that John-Mark Young, President and Chief Investment Officer at Whitaker-Myers Wealth Managers, has officially earned the Certified Financial Planner® (CFP®)  certification—one of the most respected and rigorous designations in the financial planning profession. John-Mark's achievement comes after an intensive 14-month journey of dedicated study and preparation. Passing the CFP® exam is no small feat; it is a testament to his unwavering commitment to excellence in financial planning and client service. The CFP® certification , administered by the Certified Financial Planner Board of Standards , Inc. (CFP Board), identifies financial professionals who have met high standards of competency and ethics. As a CFP® professional, John-Mark has demonstrated expertise across the core pillars of comprehensive financial planning, including investments, tax planning, retirement, estate planning, insurance, and more. According to the CFP Board, individuals who earn the right to use the CFP® certification marks must meet “rigorous professional standards and have agreed to adhere to the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism, and diligence when dealing with clients.” The CFP Board’s mission is to benefit the public by upholding the CFP® certification as the recognized standard of excellence for competent and ethical financial planning. John-Mark’s pursuit of the CFP® designation reflects the same heart and vision that guide Whitaker-Myers Wealth Managers—putting people first, operating with integrity, and delivering financial guidance that is both trustworthy and transformative. We are proud to celebrate this milestone with John-Mark and look forward to the continued impact he will make in the lives of our clients and our broader community. Congratulations, John-Mark!

At Whitaker-Myers Wealth Managers , we are proud to recognize Associate Financial Advisor Clay Reynolds for earning the prestigious Enrolled Agent (EA) designation  from the IRS. This milestone represents Clay’s continued dedication to serving clients with excellence and integrity and expands the depth of tax expertise available to those we serve. As an Enrolled Agent , Clay is now federally authorized to represent taxpayers before the Internal Revenue Service—an accomplishment that requires passing a rigorous three-part examination covering individual and business tax returns, ethics, and IRS procedures. This designation enhances Clay’s already well-rounded skill set, allowing him to help clients navigate increasingly complex financial landscapes with even greater confidence and clarity. Clay understands that truly effective financial planning requires more than just investment recommendations—it requires a tax-smart strategy that helps clients keep more of what they earn. Whether working on Roth conversion strategies, retirement withdrawal planning, or tax-efficient portfolio construction, Clay’s expanded capabilities will allow him to deliver even more value to the families he serves. As an Associate Advisor  and integral member of one of our Dave Ramsey-endorsed SmartVestor Pro teams, Clay brings a heart for service and a passion for teaching. A graduate of Mount Vernon Nazarene University , Clay studied Financial Planning and Business Administration through a CFP® Board-Registered Program. His time at MVNU, where he also competed in cross country and track, helped shape his disciplined, others-first approach to both life and advising. His commitment to ongoing professional development and his growing role at Whitaker-Myers Wealth Managers is a testament to the culture of excellence we strive to foster throughout our firm. Please join us in congratulating Clay on this significant professional achievement. We’re excited for the many ways this new designation will allow him to serve clients at an even higher level—because at Whitaker-Myers Wealth Managers, we believe in growing with purpose, so we can help others live with purpose.