Anthony Schau/North Star Resource Group

05/14/2023

“No language can express the power and beauty and heroism of a mother’s love.” —Edwin Chapin

Thank you, Mom, for everything.

04/05/2023

Your retirement income can vary widely depending on what type of account holds your savings and what assumptions you make about return and tax rates during the accumulation and withdrawal periods.

Use this calculator to help compare employee contributions to the new after-tax Roth 401(k) and the current tax-deductible 401(k):

Use this free, no-obligation calculator to compare your retirement funding options.

03/29/2023

No one should have to retire with regret.

Preparing for retirement early is a way to set yourself up for a clear, confident, and comfortable future.

A new EBRI analysis shows retirees without major financial regrets tend to report substantially higher liquid financial assets, as expected, but there are ways to feel secure beyond accumulating excess assets.

03/22/2023

Retirement is continually the top financial concern for Americans (Gallup, 2022). Unfortunately, this worry doesn’t always translate to action.

A full 52% of American workers say their retirement savings are not where they need to be, and a further 16% are not sure whether they’re on track (Bankrate, 2021).

This data can be discouraging, but it shouldn’t be terribly surprising. Human brains simply aren’t designed for long-term thinking.

The future is abstract to us. We don’t relate to that future self, and it is easy to rationalize that we’ll solve that problem when we get to it.

To succeed with retirement savings, you need to make it immediate and tangible for your current self.

You need actionable goals at each stage of the financial journey to keep you motivated and on track for the future you desire.

This is where a financial professional can help. If you're interested in talking, I'm always available!

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SOURCES:
Saad, L. (2022, May 16). Americans’ financial worries tick up in past year. Gallup.com.
Royal, J. (2021, November 17). Survey: More than half of American workers feel behind on retirement savings. Bankrate.
Ariane Resnick, C. N. C. (2022, April 21). Why are people bad at long-term planning? Verywell Mind.

03/15/2023

The larger the loan, the bigger the interest rate differences make.

With refinancing, you can lower your rates by taking out a new loan with a private lender and using those funds to pay off your existing loan.

In fact, this strategy has helped many physicians save thousands of dollars over the life of their loans.

Keep in mind, there are some potential drawbacks, such as losing certain federal loan benefits, and each new loan will have a new set of terms.

Let me know if you'd like to meet to chat about if refinancing may be an effective strategy for you!

03/08/2023

For most of our lives, it feels like money controls us.

It affects the jobs we accept, where we live, the trips we take and don’t take, and how we feel when we open a bill.

Then in retirement everything is supposed to shift. The things we worked toward all our life get to become our reality!

But it’s hard to turn off that money as master mindset in ourselves…

I want something different for my clients. I want them to experience confidence in their finances *today*.

This doesn’t mean losing discipline when it comes to finance, but it does mean putting money back in its place as the servant. It means stating goals, creating strategies to reach them, and still enjoying life along the way.

03/01/2023

Will your business and succession plans help ensure your company’s long-term success?

Do you have business insurance solutions for your needs, budget, and risk areas?

Are your employee benefits set up to attract and retain top talent?

With a financial team specializing in business owner solutions, you can begin to start answering these questions confidently.

This is why I am so proud to work with the business support team at North Star: https://bit.ly/3IJieRX

Now, not only can I help my business owner and practice owner clients with their personal finances, but our team can maximize the financial solutions at their workplace as well.

If you’re looking for this kind of comprehensive, holistic approach to your money matters or know someone who is, please don’t hesitate to reach out.

Become a more confident, organized business owner with planning, insurance, and benefits solutions coordinated for you.

02/22/2023

The biggest mistake I see in financial goal-setting is not knowing which strategies to use for each goal.

Having dollars for short-term goals in long-term vehicles and long-term dollars in short-term strategies and vehicles can significantly LOWER your ability to accomplish your financial goals.

But this becomes more complicated when you aren’t sure…

Is this house a goal for the next two years or 10 years?

What strategy is appropriate for a medium-term goal?

How long-term goals will shift into short-term as time marches on?

I specialize in helping my client avoid this common investing pitfall and clarify the complexity by asking the right questions about goals and walking them through their strategies and “buckets” throughout the years to help them remain confident in their future.

Want to learn more? Visit my website for the specifics: https://bit.ly/41ntbkG

We create integrated financial plans that free your time and energy, leaving you with confidence your insurance and investments are working away on your behalf.

02/15/2023

Knowing your financial institution is a key element in remaining safe online.

When you have a personal relationship with someone managing your financial life—from investments to retirement to insurance—you can spot bad actors easier.

Likewise, if you receive a questionable request or email, you have an ally to turn to with your concerns.

If you need this kind of personalized service, don't hesitate to reach out!

We expect easy access to our finances. However, this makes info more accessible to others as well. Learn best practices to keep your money secure online.

02/01/2023

When life changes, so does spending.

Topmost income earners spent 30% more on entertainment and food away from home as the economy reopened last year (according to Bloomberg News).

If you're a budgeting guru, you may label this a big issue for financial wellness. Yet, who wants to go back to 2020 when all activities outside the house halted to a stop? It wasn't a banner year for "wellness" by any definition.

Life changes, and finances change with it. That's normal, and it's healthy!

In 2020, when you weren't traveling or getting out of the house at all, you may have had more money to put toward student debt or retirement.

In 2022, you may want to reallocate those funds back into a "fun budget." All power to you!

The only issue is when these things are not accounted for. If you're goals change, your financial strategy should too, and that's where I can help.

01/25/2023

While Fed rate raises have slowed, the Federal Reserve’s updated projections from December show that the majority of policymakers expected rates to exceed 5% in 2023.

What other areas may be indirectly affected by rising rates?

• The stock market could temporarily go down. It may be a good time to evaluate your investment strategy against when you need the money (i.e. money you need in the next year should be treated differently than your retirement fund with a long time horizon).
• New student loans and existing variable rate loans may have higher interest rates.
• Other new or variable rate loans and debt—mortgage, credit card, estate loans, HELOCs—may see increased interest rates.
• Savings account and CD interest rates may rise alongside the Fed rate. Although currently their rates our lagging the Fed increase.

What does this mean for you?

That depends.

What are your goals? What do your life and finances look like right now?

Headlines and news anchors will give you plenty to worry about when inflation, interest rates, and the markets seem volatile.

⇨ You don't need more stress.

You need someone to calm the crazy, listen to your specific concerns, and help design a game plan moving forward

⇨ That's where I can help.

Feel free to message me if you're interested in learning more!

01/18/2023

Have you ever done a task that was hard, yet important, work and no one noticed?

Some of us rely on positive affirmation more or less than others, but I think everyone likes to be acknowledged for a job well done.

When you submit that last student loan payment...
Add the final contribution to complete your down payment fund...
Secure that insurance policy that alleviates your nagging stress...
Send your kid to college with your carefully designed funding strategy...
When you discover your retirement fund is fully-funded and the world opens up...

Each time a client hits a milestone, I celebrate the victory with them.

My job is to create a strategy for financial health, yes, but it is also to motivate and inspire along that path.