Tommy Mayo, Modern Woodmen of America

09/08/2026

One of the biggest misconceptions I see among business owners is thinking they don't have many retirement planning options. In reality, some business owners and self-employed individuals may have more retirement planning opportunities available than they realize.

If you're self-employed or own a small business, there may be even more options available.

A SEP IRA can allow business owners to make larger retirement contributions while keeping administration relatively simple.

A SIMPLE IRA can be a valuable option for small businesses that want to provide retirement benefits for employees without the complexity often associated with larger retirement plans.

For self-employed individuals and husband-and-wife businesses with no employees, a Solo 401(k) can be one of the most powerful retirement planning tools available.

Many business owners are surprised to learn that both spouses can often participate, creating significant retirement savings opportunities while maintaining control over their own business.

Beyond helping build retirement assets, these plans may also provide tax advantages depending on the type of plan and your individual circumstances.

For many business owners, retirement planning isn't just about preparing for the future. It can also be a way to potentially reduce taxable income while investing in themselves and their families.

The right option depends on the business, income, goals, and circumstances, but many business owners are surprised to learn just how many retirement planning opportunities exist outside of a traditional employer-sponsored 401(k).

"Tax issues are complex. Consult your tax professional before making a decision."

09/07/2026

Who is responsible for your retirement?

If you work for a company with a retirement plan, that's a great benefit.
But what if you don't? What if you're self-employed? A contractor? A business owner?
Someone who changes employers frequently?

Too many people assume they can't effectively save for retirement without a workplace plan.

The good news is that retirement planning isn't reserved for people with a company 401(k).

There are various strategies and opportunities that may help individuals work toward their retirement goals depending on their circumstances.

The key is taking the time to understand your options and putting a plan in place.

Because the best retirement plan is often the one you actually start.

09/07/2026

09/04/2026

No one expects a storm, flood or wildfire to upend their life. But when the unexpected happens, support can make all the difference.

Through the Financial Relief Fund, eligible members may have access to premium-payment assistance following qualifying hardships, including those caused by natural disasters. Because membership means having people in your corner when it matters most.

Learn more: https://www.modernwoodmen.org/my-membership/member-benefits/financial-relief-fund/?utm_source=facebook&utm_medium=1260765&utm_campaign=3313069

09/04/2026

Something that seems to be the same everywhere I go is the questions about someone's 401(k).

It doesn't matter if it's a young person just entering the workforce or someone starting a new job after years of experience.

The questions are usually the same: How much should I contribute? What does the company match mean? Can I afford to put money into it right now? I have a previous 401(k) and I'm not sure what to do with it.

One of the most common responses I hear is: "I can't afford it."

What many people don't realize is that contributing to a traditional 401(k) often doesn't reduce take-home pay as much as they think because contributions generally reduce taxable income. More importantly, they may be missing years of potential growth that can never be replaced.

The truth is that most people aren't avoiding retirement plans because they don't care about their future.

They simply don't know what they don't know. Nobody ever took the time to explain it.

That's why I believe financial education should be part of every new hire orientation.

Not a five-minute overview. A real conversation. A conversation about company matches, about compound growth, about how today's decisions can impact tomorrow's opportunities.

Because whether someone is 20 years old and starting their first job or 40 years old and beginning a new chapter in their career, understanding how a workplace retirement plan works can have a lasting impact on their future.

I've seen people miss valuable opportunities simply because they didn't understand their options. Not because they made a bad decision. Because no one ever explained the choices available to them.

And then years later, I hear something that breaks my heart: "I'm in my 40s, and this is all I have saved. I feel like I'm playing catch-up." Those feelings are real.

But many of those situations could have been improved with a little education and a few conversations earlier in life.

Financial literacy isn't something most of us learned in school. It's often learned through conversations, experiences, mistakes, and mentors willing to share what they've learned. And sometimes, one conversation is all it takes to change someone's financial future.

You don't know what you don't know. That's why these conversations matter.

09/03/2026

Why are savings so important for people who work rotations, swing shifts, or jobs with inconsistent income?

Because life doesn't care what your work schedule looks like. I've worked rotations ranging from 2 weeks on/2 weeks off to 4 weeks on/4 weeks off. My favorite was probably 3 and 3. Long enough at home to enjoy life, but not so long at work that I started getting aggravated at everything.

The schedule that required the most discipline with shift work was actually 4 days on/4 days off. With that schedule, there were periods where you didn't get any overtime at all, and those paychecks could get short in a hurry.

Then life happens. A vehicle repair. A hospital visit that turns into surgery with a high deductible. A layoff. A work transition that doesn't go according to plan. Or if you're anything like me, several of those things show up at the same time. When it rains, it pours.

That's why having savings set aside is so important. It's a relief that's hard to explain until you've experienced it. It's like an insurance policy that you're not paying someone else for.

Every person's situation is different, but even a little bit set aside can provide a tremendous amount of comfort.

And when the day comes that you need to use it, don't forget to replenish it.

I learned this lesson the hard way. As I've said before I broke my leg which required surgery. I was out of work for three months with no disability coverage and very little savings. That experience completely changed the way I thought about money.

What followed through the years were missed weeks of work for the birth of a child while working overseas, multiple layoffs, and several job changes.

The difference was that those situations no longer created the same level of stress because there was a plan in place.

That's why I believe in having different buckets for different purposes. One for spending, savings, for future goals, play, and retirement.

Every dollar should have a job.

Because financial peace of mind isn't found when everything goes according to plan.

It's found when things don't go according to plan and you know you'll be okay anyway.

09/02/2026

The Promise Bucket

Life insurance isn't for you. It's for the people who count on you. Your spouse. Your children. Your family. The people whose lives would be affected if you weren't here tomorrow.

Life insurance has a unique role in a financial plan because it's the only tool that can instantly create an estate that may take decades to build otherwise and it's the only one that you don't want to use.

Think about everything you're working toward: A mortgage being paid off. College funding. Retirement savings. A family legacy. Giving your kids the kind of life you want for them. Goals don't disappear simply because life takes an unexpected turn.

That's why life insurance can be an important piece of the puzzle. It's there to help ensure the people you care about can continue pursuing the future you were building together.

Because life insurance isn't really about death. It's about keeping promises. The promise to provide. The promise to protect a family's future. The promise that the people you love won't have to face financial hardship alone.

Investments are designed to grow. Retirement accounts are designed for the future.
Savings are designed for life's surprises.

Life insurance is designed to protect the people behind the plan.

09/01/2026

Contact me or learn more: modernwoodmen.org/memberprograms

08/28/2026

Let's take a poll! What community volunteer project would you be most likely to join?
a. Backpack-stuffing event.
b. Park or trail cleanup.
c. School supply drive.
d. Food pantry collection.

Vote in the comments with your choice!