September 2020 – Now is the Time…
NOW IS THE TIME FOR ALL GOOD MEN TO COME TO THE AID OF THEIR COUNTRY
Our country is at a crossroad, in my opinion. Issues of government control vs liberty. Anarchy vs law and order. Socialism vs free market systems. Fear vs faith. Truth vs relativism and/or rewriting history.
Coming through the early days of COVID, it was important to extend a great deal of grace to those in power—because frankly, decisions needed to be made quickly with what seemed to be very limited solid information. I could not imagine making decisions for a nation, a state, or a local municipality. I was having enough trouble making solid decisions for my own household!! Now, months later, we are facing shifting information, varying test results, and political agendas and most people I know are weary of it.
Please understand me. I believe COVID is a real virus that has the capacity to kill. I don’t think we (especially believers in Jesus) should take someone else’s vulnerabilities lightly. We should be considerate and thoughtful of others.
What I am especially weary of is watching our nation lose its moorings. One glance at the nightly news is enough to turn my stomach for days. The “thought police” are working overtime to guide and control the narrative of the COVID virus. Mix in alarm over racial injustice and VOILA` - you’ve got “unprecedented” turmoil, anger, and disillusionment.
It seems that if you are looking for a cause, you could consider jumping on board with socialism, the protest movement, and/or anarchy (now being touted as a positive social change in Teen Vogue among other places.) Not!
I and most other folks I know believe in racial equality and wish we could get past judging anyone by their race or ethnicity. We have seen the effects of socialism and view it as a failed social and government experiment, truly intended to deposit power into the hands of a few.
“Now is the time for all good men to come to the aid of their country.” - Patrick Henry
If you want to change the narrative, you can pray for your country, fly your flag, work and invest and contribute to your community, honor your law officers and veterans, get your news from original sources, speak articulately about current news, show kindness and civility to those who think differently than you, get informed on platforms and policies before you vote this fall, VOTE this fall, and trust God above all else.
This is not a time to fear. It is not a time to hate. It is not a time to let others do your thinking for you. Be part of the solution you think this country needs. May God bless and restore and lovingly correct America.
How Much is Enough? -- From lifehappens.org
About 38% of Americans believe they would feel the financial impact from the death of the primary wage earner within a month of their passing. When you consider all the things that life insurance proceeds need to fund and how long the money will be needed, you begin to realize that your true need for cover is often 10-15 times your gross annual income, sometimes more.
Insurance Proceeds Can Fund Many Types of Expenses:
IMMEDIATE – funeral costs, uncovered medical expenses, mortgage, car loans, credit card debt, taxes, estate settlement costs
ONGOING – food, housing, utilities, transportation, health care, clothing, insurance
FUTURE – college, retirement
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Have things changed for you — new home, new phone number or email, new child, family changes? Do you need to change your beneficiaries? Please email rzimmerman@cfdinvestments.com
We may simply need to update our files, but certain types of information should also be reported to the companies who hold your investments. Let us help you stay up-to-date! If you don’t wish to receive this mailing, you can email the address above to opt out.
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In the same way you might downsize your home to reduce ’clutter’, it can also be wise to consolidate and simplify your finances. This makes details easier to keep track of and helps your spouse and/or heirs upon death. Ask us how to get started.
SIMPLE IRA
Are you a small business owner? Do you want to help your employees prepare for retirement while realizing tax benefits in the process? You might want to consider starting a SIMPLE IRA. A SIMPLE (Savings Incentive Match Plan for Employees) IRA is truly one of the most simple of all retirement savings accounts. It is an employer sponsored retirement plan offered by businesses with fewer than 100 employees.
For the employer:
- Compared to a 401(k), start-up & operating costs are significantly lower.
- The plan is easy to create and manage.
- Tax deductions are given to employers for their contributions.
For the employees:
- Employee must have made at least $5000 in one of last 2 years and will earn that much in current year.
- The option still exists to contribute to other IRAs. You can contribute to a SIMPLE IRA and still max out a traditional or Roth IRA as well.
You can either match employee contributions up to 3% of their pay OR you can do a “flat” non-elective contribution of 2% of their pay. If you would like to talk about your options and the ‘why’ behind a SIMPLE IRA, please call us at 419-358-4207 or email Orrie at orrie@myfaithinvestments.com
Illustration of the stack of files containing paperwork for an estate transfer case.
June 30—what’s in a day?
On June 30, 2020, rules from the SEC went in force to require financial firms to disclose significant new information through a written disclosure, Form CRS. Form CRS (Customer Relationship Summary) is intended to make consumers more aware of “services, fees, conflicts of interest, and the required standard of conduct for particular firms, and the differences between broker-dealers and investment advisers.”
The 564 page rule overview found at https://www.sec.gov/rules/final/2019/34-86032.pdf is very exhaustive and has placed a significant burden on our industry. Combine that with vague wording, other groups and legislators already proposing changes, and multiple agencies having oversight and/or involvement and the end result—in my opinion—does not help consumers become more aware or better informed.
We DO want you to be informed and to ask questions and to understand how we serve you. Please ask questions and seek understanding so you can make informed decisions. We believe you will be best informed that way, not by burdensome written disclosures. Note, the number of pages required to write a new piece of business has increased by approximately 35 pages since best interest regulations were passed. Honestly, it is hard for me to imagine that that results in better informed clients.
ARE YOU WONDERING ABOUT YOUR FINANCIAL FUTURE?
What does security mean to you? For many of our clients, security is found in the person of Jesus Christ. Hebrews 6:18b-20a reminds us “Therefore, we who have fled to him for refuge can have great confidence as we hold to the hope that lies before us. This hope is a strong and trustworthy anchor for our souls. It leads us through the curtain into God’s inner sanctuary. Jesus has already gone in there for us. He has become our eternal High Priest…” God’s love for us is a great anchor to our souls.
Another place of security can be in wise counsel. Even when the wind (or the stock market) blows here and there, we can rest assured knowing that we’ve sought wisdom from trusted advisers. Let’s be honest—sometimes things that we are considering make a lot of sense in our head until we say them out loud!! If you need a trusted adviser with whom to process some things out loud, we would be very happy to help.
There are some places that DON’T offer security. Money, in and of itself, is one of those. Politics is another. Religiosity is another. Anxiety, stress, anger.
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A financial conversation with us looks like this:
1) You contact us to have a conversation
2) We send you a simple questionnaire to complete that make the first meeting/call more productive and helpful
3) We meet together in person, over Zoom, or over the phone. You are allowed to ask any questions you have and we’ll give our honest feedback (or sometimes simply listen!)
4) If we have recommendations or insight, we will put that together and send it to you for you to review. We will answer any questions you have or provide further clarification as needed.
5) You are “in the driver’s seat” the whole time—to continue the conversation and make financial decisions or not.
We can help you move an old 401k or IRA, make plans for retirement or other life expenses such as college, know how to receive inheritance money without huge tax implications, apply for life insurance or long-term care, understand your Social Security options, and more. Let us help you feel secure about your future!
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God bless America, land that I love
Stand beside her and guide her
Through the night with the light from above…
-Irving Berlin
