Rick Meyer - My Planning Team

Rick Meyer - My Planning Team Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Rick Meyer - My Planning Team, Financial service, 6140 Village Drive Suite 2, Lincoln, NE.

What would happen if you gave low-income public school kindergarteners bank accounts with $50 earmarked for college? I j...
11/14/2023

What would happen if you gave low-income public school kindergarteners bank accounts with $50 earmarked for college?

I just read in the Wall Street Journal about how a kindergarten-to-college savings program in San Francisco did just this. Public and private donations funded student bank accounts with $50 balances and encouraged students to save money through various incentives, such as art competitions and scholarship opportunities.

The city matched deposits, which had to be used for college or higher-education-related expenses.

They found that early exposure to saving and financial literacy can impact children’s (and their families’) financial habits.

With all the doom and gloom we see, I thought this was worth a share. I hope other cities and states adopt similar programs to help more children learn about saving money and financial literacy.

What do you think of the idea?

This chart shows the 10-year Treasury vs. the Fed funds rate since 2000.The takeaway here is that there were only limite...
11/10/2023

This chart shows the 10-year Treasury vs. the Fed funds rate since 2000.

The takeaway here is that there were only limited periods during the past 20+ years in which an investor could have purchased a 10-year Treasury when it was yielding 4% or higher.

The chart shows that the 10-year did drift above 5% at some points in the 2000s; it also tested 4% (the red line) several times between 2008 and 2010 before falling each time.

If you’re looking for investment ideas, and you are comfortable tying up your money for as long as 10 years, you may want to take a closer look.

FMG created this content to provide insights into a topic and is not affiliated with a broker-dealer or investment advisory firm.

-Bills -Bonds

The market value of a bond will fluctuate with changes in interest rates. As rates rise, the value of any existing bond typically falls. If an investor sells a bond before maturity, it may be worth more or less than the initial purchase price. By holding a bond to maturity, an investor will receive the interest payments due plus the original principal, barring default by the issuer. Investments seeking higher yields also involve a higher degree of risk. The 10-year treasury performance is not indicative of the past performance of a particular investment.

I recently met with a client who was unfortunately going through a divorce. They had already lined up an attorney and we...
11/09/2023

I recently met with a client who was unfortunately going through a divorce. They had already lined up an attorney and were talking about next steps.

Even the most amicable splits can be financially complicated, emotionally taxing, and expensive. Too often, our team gets involved too late to manage any costly, avoidable mistakes.

If you know anyone going through a divorce, make sure they understand its financial implications and the common missteps. Some of the areas to consider include the following:

◾ Forecasting property division and alimony
◾ Advising on executive compensation packages and other performance bonuses
◾ Stress testing different divorce settlement scenarios
◾ Considering strategies to protect alimony payments
◾ Creating accurate budgets aligned with post-divorce realities

Divorce is difficult, but preparation can help those involved to go through the complicated and emotionally draining experience.

A quick reminder that daylight saving time ends this Sunday.Enjoy the last few extra hours of sunlight!
11/04/2023

A quick reminder that daylight saving time ends this Sunday.

Enjoy the last few extra hours of sunlight!

In September, the 1-year T-bill was yielding +1.2% than the 10-year Treasury! 🤯 The St. Louis Fed reports that short-ter...
11/03/2023

In September, the 1-year T-bill was yielding +1.2% than the 10-year Treasury! 🤯

The St. Louis Fed reports that short-term and long-term Treasurys started to invert in July 2022, and as of September, the 1Y Treasury had a yield of 5.42% compared to 4.25% for the 10Y.

CNBC’s 1-year Treasury chart shows that the last time Treasurys surpassed 5% was back in early 2000.

As the accompanying chart shows, rates in September were higher for shorter-duration Treasurys (6M, 3M, and 1M).

If you’re looking for short-term investment ideas, this chart can help shed some light on the yields offered by Treasury bills, ranging from four weeks to 52 weeks.

FMG created this content to provide insights into a topic and is not affiliated with a broker-dealer or investment advisory firm.

-Bills

The market value of a bond will fluctuate with changes in interest rates. As rates rise, the value of any existing bond typically falls. If an investor sells a bond before maturity, it may be worth more or less than the initial purchase price. By holding a bond to maturity, an investor will receive the interest payments due plus the original principal, barring default by the issuer. Investments seeking higher yields also involve a higher degree of risk. The performance of various Treasury bills, notes, and bonds is not indicative of the past performance of a particular investment.

No one likes taxes, and I don't think everyone knows that their taxes may change if the Tax Cuts and Jobs Act of 2017 (T...
11/02/2023

No one likes taxes, and I don't think everyone knows that their taxes may change if the Tax Cuts and Jobs Act of 2017 (TCJA) "sunsets" on December 31, 2025.

Passed in 2017, the TCJA lowered most individual income tax rates. For example, the top marginal rate went from 39.6 to 37 percent.

It also increased the standard deduction to $12,400 for single filers and $24,800 for married filers from $6,500 (single) and $9,550 (married) under the prior code.

What's scheduled to change according to the Tax Foundation?

The tax rates for individuals and married couples that were reduced in 2017 may revert to their values in 2016. Thus, after December 31, 2025:

◾ The 37% rate is scheduled to revert to 39.6%
◾ The 24% rate is scheduled to revert to 28%
◾ The 22% rate is scheduled to revert to 25%
◾ And the 12% rate is scheduled to revert to 15%

Preparing your taxes can be complex, and accidental errors can be easy to make.

Remember, even if you’re working with a tax professional, you are responsible for correctly filing your financial details.

This social post is for informational purposes only and is not a replacement for real-life advice. Consult your tax professional before modifying your strategy ahead of the TCJA adjustments.

FMG created this content to provide insights on a topic and is not affiliated with a broker/dealer or investment advisory firm.

My Financial Friday Tip is about the various ways in which to manage your estate.Many people are familiar with revocable...
10/27/2023

My Financial Friday Tip is about the various ways in which to manage your estate.

Many people are familiar with revocable trusts, but fewer understand the potential value of an irrevocable life insurance trust (ILIT).

An ILIT is designed to keep the death benefit of your life insurance policy out of your taxable estate. It can help individuals who anticipate their estate exceeding the lifetime exemption limit, but it may not be appropriate for everyone.

Remember, the Tax Cuts and Jobs Act of 2017 raised the gift and estate tax exemption, with the amount for 2023 reaching $12.92 million per person. However, these provisions are set to expire on December 31, 2025, and the exemption will be reset to $6–7 million in 2026.

For taxpayers with an estimated estate value approaching or exceeding the anticipated exemption for 2026, the time to explore opportunities is now. Consider speaking with a financial professional about ideas that may help.

Remember, the cost and availability of life insurance are affected by factors such as age, health, and insurance type and amount. Policies also incur expenses such as mortality and other charges. Surrendering early may result in surrender charges and tax implications. Consider insurability before implementing a life insurance strategy. Policy guarantees depend on the ability of the insurance company to make claim payments.

Also, before moving forward with a trust, consider working with a professional who is familiar with the rules and regulations.

I’m curious: Are you familiar with ILITs?

Do you think your tax rate will be higher in the future?Look at this chart by YCharts showing the historical tax rates f...
10/23/2023

Do you think your tax rate will be higher in the future?

Look at this chart by YCharts showing the historical tax rates for the lowest and highest tax brackets.

For the highest bracket, the historical average (not the high) is 57.69%, although we are currently at 37%.

Some believe that taxes may increase in the future. Here are the facts:

◾ Higher tax rates may be part of any proposed solution to the current U.S. deficit.

◾ The time to manage your taxes is when you understand the current rates.

Every person’s situation is unique, but as we approach year-end, a Roth IRA conversion for a portion of your retirement portfolio may be a strategy to explore a bit more.

A Roth IRA must meet a 5-year holding rule and occur after age 59 1⁄2 for the tax-free and penalty-free withdrawal of earnings. Tax-free and penalty-free withdrawals can also be taken under certain circumstances, such as the owner’s death. The original Roth IRA owner is not required to take minimum annual withdrawals.

This post is for informational purposes only and is not a replacement for real-life advice, so make sure to consult a tax professional before moving forward.

My Financial Friday Tip is about one strategy for charitable giving that is often overlooked: donor-advised funds (DAFs)...
10/20/2023

My Financial Friday Tip is about one strategy for charitable giving that is often overlooked: donor-advised funds (DAFs).

DAFs can be used to structure charitable contributions while providing tax considerations that you can manage.

A DAF allows you to make a charitable contribution and recommend grants from the fund over time. Once your donor-advised account is set up, you can decide which charities and causes you’d like the funding to go toward. Unlike other approaches, DAFs are not required to distribute money annually.

For all of you who are philanthropically inclined and interested in making the most of your giving strategies, a DAF is one choice to consider. This is the time of year to consult with a professional who can speak to charitable giving strategies.

Some DAFs are considered mutual funds and are sold only by prospectus. The prospectus will provide information on charges, risks, expenses, and investment objectives and should be reviewed carefully before investing. Investment companies can provide a prospectus, or you may prefer to ask your financial professional. Read the prospectus carefully before you invest or send money.

I’d love to hear what charities you support and are passionate about. Let’s give them some exposure by tagging them in the comments!

Address

6140 Village Drive Suite 2
Lincoln, NE
68516

Telephone

+14024340390

Website

Alerts

Be the first to know and let us send you an email when Rick Meyer - My Planning Team posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Rick Meyer - My Planning Team:

Shortcuts

Share

Category