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.

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.

National Debt With the new administration in place and past their first 100 days, we continue to see a moderate amount of clarity around what a second Trump presidency means for the country. A large focus has been on the deficit and reducing waste in the government, and rightfully so. In 2024, we unfortunately had a deficit of 1.8 trillion dollars in the US.   That is a lot of debt. Which means, Dave Ramsey and his team at Ramsey Solutions are not happy. To put that in perspective, there are 1,000 billion in a Trillion, and 1,000 million in a billion. The national debt currently sits at 36 trillion.   So, what’s the problem? The problem is in the weeds. In 2024, the US generated $4.9 trillion in revenue. And the US spent, among other things, the following: Social Security $1.5T, Medicare $865B, Medicaid $618B, defense $850B, and Interest on debt $881 B. The total is $4.71 trillion in spending annually.   These items seem to be untouchable, and rightfully so. All but defense fall under entitlements, which are mandatory pieces of our spending. That is not good; we have $200 billion left for everything else, like transportation, natural resources, education, energy, agriculture, and space.   The point is that we cannot cut enough discretionary spending to get to a balanced budget. We must grow our tax income through economic growth, increase tax rates broadly in hopes that the extra tax revenue doesn’t come at the cost of economic development, or reduce defense spending.   Efforts in Trying to Fix the Debt Problem There has been a recent push to remove excess government spending through DOGE efforts. They have found many areas of government that have waste and abuse, and have worked to correct these abuses. The goal is to balance the budget and eventually get to a point where we run a surplus, which hasn’t been done since 1998 under Clinton.   I believe DOGE's efforts have been somewhat effective in finding and eliminating waste. They are a great start; however, much like cleaning up personal finances, eliminating debt  can be a long and painful process.   The national debt is now roughly 7.3 times our annual tax revenue. Let's say your annual take-home pay is $75k. The equivalent personal debt would be $547,500. The outlook isn’t good. But if you are disciplined, you can get things paid off. It would require additional jobs, side hustles, and lowering your spending, but it is possible (sounds a little like Gazelle Intensity  for all the Dave Ramsey fans out there!).   This is the kind of approach we need to embrace as a nation if we are serious about reducing the national debt and securing long-term fiscal stability. While we haven’t yet seen comprehensive, solution-focused conversations that could realistically lead to a balanced budget, there is reason to believe such discussions are within reach. Entitlement programs and defense spending remain complex and sensitive issues, but with thoughtful leadership and bipartisan cooperation, progress is possible. Americans hold differing views on the role we play in global affairs and border protection, yet there is common ground to be found. The most promising path forward lies in strong, sustained economic growth that boosts tax revenues and reduces our reliance on borrowing. With innovation, responsible policymaking, and shared commitment to prosperity, we can meet this challenge head-on. The math may be tough, but so are we – and with the right momentum, a balanced budget is an achievable goal.   The Support of a Financial Advisor With times of uncertainty, which often create uneasy feelings about finances, having the guided help of a financial advisor  can create clarity and peace during choppy markets . If you do not have a financial advisor and would like to talk to one, reach out to a member of our team and schedule an appointment today.

When considering our financial plans, we often think about investments, retirement accounts, insurance, college savings, near- and long-term goals, and much more. However, the part that is often left to the wayside is the estate plan. According to this CNBC article , nearly two out of every three Americans have not completed an estate plan. When it comes to estate planning, many individuals are familiar with the idea of a will , but far fewer understand the critical role a revocable living trust  can play in streamlining the transfer of assets and avoiding probate. At Whitaker-Myers Wealth Managers, we often guide our clients through the estate planning process to ensure their legacy is preserved and passed on efficiently. A revocable living trust is a powerful tool and one that more than likely benefits many families—but it’s not a complete solution. Here’s what it does well—and where it falls short. Estate Planning is a part of a well-rounded financial plan What a Revocable Living Trust Does  Offer A revocable living trust  is a legal entity you create to hold title to your assets during your lifetime. You maintain control over the trust and can change or dissolve it at any time while you're alive. Here are the key benefits: Avoids Probate: One of the biggest advantages is that assets held in a revocable trust bypass probate court. This means your heirs can receive their inheritance faster, more privately, and without the added expense and delay of probate proceedings. Continuity in the Event of Incapacity: Should you become incapacitated, your successor trustee (whom you choose) can manage the trust assets without the need for a court-appointed guardian or conservator. This provides peace of mind and continuity in managing your affairs. Organizes Your Estate: A revocable trust can consolidate the ownership of your assets into one plan, which can simplify estate administration and ensure that your wishes are carried out exactly as you intend. Privacy: Unlike a will, which becomes public record through probate, a trust remains private. The details of your estate and how it's distributed are known only to your trustee and beneficiaries. What a Revocable Living Trust Does Not  Do While it offers many advantages, it’s important to understand the limitations  of a revocable living trust. Misunderstanding these can lead to costly mistakes. No Asset Protection: Because the trust is revocable  (you can change it at any time), creditors can still go after the assets inside. If you're sued, the trust provides no protection. It also does not shield assets from claims related to liability or bankruptcy. No Medicaid or Long-Term Care Protection: A revocable trust does not help when planning for Medicaid eligibility. Assets in the trust are still considered "countable" by Medicaid, which means they could disqualify you from receiving benefits for nursing home or assisted living care. No Tax Shelter: Revocable trusts do not provide any estate tax advantages. The IRS treats the assets as still belonging to you, so they remain subject to estate taxes if applicable. How to Protect What a Revocable Trust Can’t Thankfully, there are smart and accessible strategies to protect your wealth in the areas where a revocable trust falls short: For Asset Protection: Buy an Umbrella Liability Policy: An umbrella insurance policy adds an extra layer of liability protection on top of your existing homeowners, auto, or other insurance policies. For a relatively low cost, you can shield your assets from lawsuits and claims that exceed standard coverage limits. For Medicaid Planning: Purchase Long-Term Care Insurance: Long-term care insurance can help cover the cost of nursing home care, in-home care, and other services that Medicaid may eventually pay for—but without having to “spend down” your assets first. Work with an independent insurance agent, such as those at Whitaker-Myers Insurance Agency  , who can shop the marketplace and find a plan tailored to your health, finances, and goals. For Tax Efficiency: Combine with Other Strategies: While revocable trusts offer no tax shelter on their own, they can be used in conjunction with irrevocable trusts, charitable trusts, or gifting strategies to reduce your taxable estate. Conclusion: A Core Piece, Not the Whole Puzzle A revocable living trust is often a foundational piece of a well-crafted estate plan —especially if you want to avoid probate, maintain privacy, and provide continuity in the event of incapacity. But it’s not a magic wand. You’ll need additional tools to fully protect your wealth from lawsuits, long-term care costs, and taxes. At Whitaker-Myers Wealth Managers , we help clients think about and plan to work with their legal counsel to create a holistic estate and retirement plan that considers not just what happens after you're gone, but what could happen while you're still here .  With the right advisors around the table—your financial planner, estate attorney, and insurance professional—you can build a plan that provides security and peace of mind for every stage of life.

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.

In a global economy where international trade policies, such as tariffs, can heavily affect an investor’s portfolio, understanding how different types of companies will be affected by these shifts is valuable for investors to understand their portfolios. This article looks at Dave Ramsey’s four investment categories —Growth, Growth & Income, Aggressive Growth, and International—and examines how potential tariffs will likely affect each category.   Growth The Growth category consists of already large, well-established companies that expect to continue to grow. Examples include Apple, Amazon, Microsoft, and Ralph Lauren. A lot of Growth companies would also be considered blue-chip companies.   Of all four categories, the Growth category will most likely feel the weight of the potential tariffs the most. Due to the size of these companies, most have heavy international reach in one way or another. Whether companies get materials from foreign countries, build products in a foreign country, or sell the products in foreign countries, they will feel the impact of tariffs that may be put in place. At some point in their business process, these companies will be forced to pay higher prices for their products, which will inevitably be passed to consumers. Higher prices typically decrease sales of a product. Additionally, when U.S. products are more expensive in a foreign country, consumers of that country will be driven to the cheaper alternative, which will most likely be the products made in that country.   Growth & Income The Growth & Income category consists of large, well-established companies, but don’t expect to see rapid growth like the Growth category does. Because of this, these companies pay dividends to their shareholders as an incentive to invest with them. Some examples of this category are McDonald’s, Walmart, Exxon Mobile, General Electric, and more.   Much like the growth category, the size of these companies most likely expands into international business. However, the Growth & Income category is a highly diverse group of types of companies, and the degree of effect of the tariffs depends on the kind of company. A company like Walmart, which sells a large portion of imported products, will feel a significant hit due to the increase in product prices to sell due to the tariffs. On the other hand, a company like McDonald’s, whose international reach is simply having locations in foreign countries, has almost all of their products are sourced locally for the restaurant, meaning they do not import many, if any, products. Because of this, they will not feel much of an impact from the tariffs at all.   From the investor side, these companies are typically built to be good investments as they will try to continue providing dividends to their shareholders. There may be slight dips in stock price due to the tariffs, but the dividends will ease that dip. Additionally, you will not have officially lost anything until these stocks are sold, which means your account will continue to grow (although the dips may make it not seem that way) as you are paid the dividends from these companies.   Aggressive Growth The Aggressive Growth category includes smaller companies looking to grow in size. Some well-known examples of this are Chipotle, Roku, Hasbro, GAP, and more. Although these may seem like big, well-established companies, they are still relatively small compared to some other companies in terms of their market share.   Companies in the aggressive growth category are expected to do well if tariffs are implemented. Tariffs will make the products foreign companies send to the U.S. more expensive. Consumers are almost always driven to the less expensive product. Since U.S. company products will remain at the same price while foreign products will become more expensive, more consumers will be driven to the domestic products. This will increase sales and revenue for the U.S. companies.   It is also important to consider the smaller size of these companies. Most smaller companies are not built to have the same reach as the bigger companies. Although it is not a uniform rule across the board, most smaller companies do not have the international reach that big companies have, if they have any at all. Without the international pull, these companies will feel much less of the tariffs negatively, if they feel it at all. When factoring this all together, the companies in the aggressive growth category will feel little to no negative impact from the impact while simultaneously getting a boost in revenue as consumers are driven to their now cheaper products.     International The International category includes companies based outside of the U.S. There are around 54,000 companies located outside of the United States. In comparison, only around 10,000 companies are located inside the U.S. This means there is a lot more investment opportunity outside the U.S. than within. Many of these companies are unfamiliar to U.S. citizens, but some well-known examples include Sony, Nestlé, Samsung, and many more.   International companies are expected to do well in the wake of the potential tariffs being implemented. Tariffs will make U.S.-exported products more expensive in other countries. Since consumers are almost always driven to the less expensive product, more expensive U.S. products will drive consumers to the products produced in that country. International companies will likely see an increase similar to the aggressive growth category. They will likely see an increase in sales and revenue from these tariffs, and will likely perform well in these times.   It also helps that the U.S. dollar will most likely become weaker globally because of this. As the U.S. dollar weakens, foreign currencies will become relatively stronger for the most part. A stronger currency will be very beneficial for the foreign companies, as it will make their currency able to buy more.   This is why Dave’s four categories are so important to invest in over the long run. They are designed to minimize risk in uncertain times, mitigating dips in the market to feel less of an impact in your portfolio than if you were only investing in one category.   The Expertise of a Financial Advisor Knowing and understanding how current economic situations, such as possible tariffs , can affect investments can be confusing, overwhelming, or even scary at times . But that is why having the help and expertise of a financial advisor  is so beneficial.   If you would like to meet with one of our financial advisors to discuss this more in-depth, review your investments, or create a financial plan, reach out to a member of our wealth management team   today!

This week, my Co-Chief Investment Officer, Summit Puri , Tim Hilterman, CFP® , and I were able to spend about an hour with Meb Faber , who was in town for the Financial Planning Association All-Ohio Symposium , talking markets, US vs. International valuations, the incompetence of CALPERS, and 351 ETF conversions. Admittedly, Section 351 ETF conversions are not very well known. At the above-mentioned FPA All-Ohio Symposium, only about 5% of Financial Advisors admitted to having knowledge of this unique part of the tax code. Thankfully, I have had brief exposure to the strategy recently, while working through the material for my newest designation, I'm working on, the Tax Planning Certified Professional (TCPC™️) through the American College of Financial Services . Fortunately, some people amass great wealth in a single stock. With concentration can come quick and large gains. However, the same can be said in reverse. With great concentration, great wealth can be lost. Take a look at the chart below. As of the beginning of May, the S&P 500 is down 4.42% this year; however, you can see there are many employees and investors of Kohl's, Abercrombie & Fitch, Neogen Corp, & Nabors Industries that are having a much worse year than you, as it relates to their wealth. For many of those stocks, a nearly 50% loss. Ouch! The reality is that it could be any company, in any given year. Perhaps these names will rebound, but to the extent they don't, the investors and owners of these stocks could really have benefited from the section 351 ETF conversion. At Whitaker-Myers Wealth Managers, we understand the challenges faced by investors holding significant positions in a single stock—often due to stock options, RSUs, ESPPs, or ESOPs. While such holdings can be lucrative, they also expose investors to substantial risk. As Dave Ramsey advises, limiting any single stock to no more than 10% of your net worth is prudent to maintain financial stability. The Dilemma of Concentrated Stock Holdings Holding a large position in one stock can be risky. Market volatility, company-specific issues, or industry downturns can significantly impact your wealth. Diversifying your portfolio is essential to mitigate these risks and ensure long-term financial health. Introducing Section 351 ETF Conversions Section 351 of the Internal Revenue Code offers a solution: it allows investors to transfer appreciated securities into a newly formed corporation (such as an ETF) in exchange for shares, without triggering immediate capital gains taxes . This strategy enables you to diversify your holdings while deferring tax liabilities. For example, let's say you hold $500,000 of Apple Stock. You would like to diversify this holding into a broader investment structure like an ETF can provide. You could make a contribution to the Section 351 ETF being created. You'll get shares back of the ETF, which had many contributions from many different investors, like yourself with different concentrated stock holdings. After seven days, the investments in the ETF are sold and reinvested in a diversified manner, but because this was done in an ETF wrapper, you realize no tax gain. When you decide to sell the investment (which would most likely be in small pieces over time), at that point, you'll realize the tax gain. Therefore, it's important to remember that you are not eliminating your tax liability because of the exchange, but eliminating your single stock risk. To quote Ben Franklin, "Nothing is certain except death and taxes." Benefits of Section 351 ETF Conversions Tax Deferral : By transferring your concentrated stock into an ETF structure, you can defer capital gains taxes, allowing your investments to grow uninterrupted. Diversification : The ETF structure provides exposure to a broad range of assets, reducing the risk associated with holding a single stock. Liquidity and Flexibility : ETFs are traded on major exchanges, offering liquidity and the ability to adjust your investment strategy as needed. Eligibility Considerations To qualify for a Section 351 exchange, your portfolio must meet specific diversification criteria: No single security can constitute more than 25% of the total value. The combined value of the top five securities must not exceed 50% of the total portfolio . If your holdings are too concentrated, alternative strategies like exchange funds might be more appropriate. Aligning with Dave Ramsey's Philosophy Dave Ramsey emphasizes the importance of diversification and cautions against overexposure to single stocks. He recommends investing in a mix of growth, growth and income, aggressive growth, and international mutual funds to achieve a balanced portfolio . Section 351 ETF conversions align with this philosophy by facilitating diversification and promoting long-term financial stability. Taking the Next Step If you're concerned about the risks associated with a concentrated stock position, consider exploring a Section 351 ETF conversion. This strategy can help you diversify your portfolio, defer taxes, and align with sound investment principles. Contact our Chief Financial Planner, Tim Hilterman, CFP® by clicking this link . At Whitaker-Myers Wealth Managers, we're here to guide you through this process and tailor a strategy that fits your financial goals. Contact us today to learn more about how we can help you achieve a more balanced and secure financial future.

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 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!

Lifestyle creep has a way of quietly sucking away your wealth unless you understand how to manage it. The key to long-term prosperity is learning how to manage surplus money without relinquishing control over your finances.   Recognizing and Managing Lifestyle Creep You've found your first big-kid job or landed that great promotion—finally, financial independence! But before you know it, you're renovating your apartment, buying all-new clothes, or dining out every evening. Ring a bell? That's lifestyle creep  raising its ugly head. While it's okay to treat yourself, allowing your spending to increase simply because of your income can prevent you from ever becoming wealthy. In this article, we will discuss what lifestyle creep is, how to identify it, and how to avoid it while still living a fulfilling life.   What is Lifestyle Creep? Lifestyle creep occurs when your spending gradually increases in line with your income. What that means is that rather than investing or saving, you start spending more on current items or additional items, unintentionally. A bit of indulgence here, a pricey upgrade there, and before you know it, your bank balance isn't growing as it should.   Lifestyle creep occurs when your spending increases as your income rises, but your savings don’t.   A common sign is upgrading to a nicer apartment or car, or buying more clothes or accessories, simply because you received a raise, not because you actually need them. If you notice that you're spending more each month but not saving much, it could be a problem. You might also find yourself justifying impulse purchases by thinking, "I work hard, so I deserve this."   Another warning sign is using credit cards to buy things you don’t need, with the intention of paying them off later. Ultimately, if you’re still struggling financially despite earning more money, it’s a good idea to take a closer look at your spending habits.   How to Keep Lifestyle Creep at Bay Below are a few suggestions on how to spend less, save more, and stay on track.   Create Clear Financial Goals Before you continue to spend, ask yourself this: Where do I want my money to be directed? Whether it's towards a house, paying off debt , or creating an emergency fund , having a goal in mind will make it easier to resist unnecessary spending.   Automate Savings and Investments Make it simple to save. Automatically transfer money to savings or increase 401(k) or Roth IRA contributions when you get a raise. You won't even notice it.   Create a budget At Whitaker-Myers Wealth Managers , we suggest creating a Zero-Based Budget plan . This plan allows you to designate your monthly income, telling it where and how it will be utilized, knowing you are the one in control of your money.   Avoid Big Ticket Purchases Impulse purchases are the cause of lifestyle creep. Use the 24-hour rule—wait 24 hours before making a discretionary purchase, especially one of a significant dollar value. You will probably find that you don't need it.   Track Your Spending You can't fix what you don't measure. Utilize budgeting programs like Mint, YNAB, or Personal Capital to track where your money is being spent. Or our personal favorite from Ramsey Solutions, the EveryDollar Budget App .   Stop Comparing Your Life to Everybody Else's Social media causes your life to become too readily compared to everyone else's highlight reel. You don't need to go on the same luxury vacation simply because your best friend is going away. Stick to your budget instead.   Celebrate Victories Without Breaking the Bank It's okay to treat yourself—just be mindful of it. Rather than blowing your paycheck on new shoes or a designer handbag each time you receive a raise, consider buying something more worthwhile, such as a weekend trip or a delicious meal. Preventing Lifestyle Creep: Achieve Financial Success with Whitaker-Myers Wealth Managers Lifestyle creep is sneaky, but you don’t have to fall into the trap. By setting financial goals, automating savings, and being mindful of where your money goes, you can enjoy your income and build wealth for the future.   At Whitaker-Myers Wealth Managers , we specialize in helping young professionals create a financial plan that supports their long-term goals while still allowing them to enjoy life today. Whether you're looking to invest wisely, eliminate debt, or plan for the future, we’re here to guide you every step of the way.   Don't wait until lifestyle creep takes control—take action today! Meet with a financial advisor and start making your money work for you.

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.

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