Kirk Balin, CEP, ChFc LPL Financial

10/16/2025

Have you ever wondered if you should pay off your mortgage early or invest the money instead?

It’s one of the most common questions we hear from clients, and the answer often starts with one number: your mortgage rate.

🔍 If you're paying over 6 percent, that might feel high, but historically, it's actually close to average.

Since 1971, the median 30-year mortgage rate has been 7.71 percent. Rates only feel high today because the past decade skewed low, closer to 4 percent.

So, where do most homeowners stand right now?

📊 Your mortgage rate breakdown (Q2 2024):
• 21.6% of mortgages are below 3%
• 34.6% are between 3% and 4%
• 18.4% are between 4% and 5%
• 9.6% are between 5% and 6%
• 15.8% are over 6%

Understanding where you fall on that spectrum and how it aligns with your goals, cash flow, and risk comfort is key to deciding whether to pay down debt or put your money to work elsewhere.

It’s about making the right move for you.

📩 If you’re considering your options, we’re always happy to help you evaluate the trade-offs.

10/13/2025

Mortgage demand fell again last week, but borrowers still in the market are taking on more risk in search of savings.

Applications for new loans dropped nearly 5%, and refinances were down 8%, according to the Mortgage Bankers Association. Yet adjustable-rate mortgages (ARMs) are on the rise, now accounting for 9.5% of applications, up from 8.4% the week before.

With ARMs offering rates nearly a full percentage point below 30-year fixed loans, more buyers are choosing the lower initial payments despite the potential for higher costs later.

The trend underscores how affordability pressures are shaping borrowing decisions even as rates edge down slightly.

Mortgage demand weakened again but for those in the market, adjustable-rate loans are getting more popular, as they offer lower interest rates.

10/13/2025

Market swings and tax rules may shift, but smart, year-end preparation still holds.

Here are five strategies that may help you set the stage for 2026 and beyond:

1️⃣ Manage capital gains distributions
Some mutual funds have year-end payouts. Reviewing exposure now might help you manage taxes on “phantom income.”

2️⃣ Harvest losses
Selling losing positions to offset gains (or up to $3K of income each year) is one strategy to consider. Just be aware that the wash-sale rule may apply.

3️⃣ Harvest gains
In years where your income may be lower than average, realizing long-term gains could be a strategy to consider.

4️⃣ Retirement plan contributions
From IRAs to 401(k)s to defined benefit plans, higher contribution limits in 2025 create opportunities to manage current-year taxable income.

5️⃣ Consider Roth conversions
Converting IRA dollars to a Roth IRA can help you manage future taxes on growth and withdrawals, especially in years when income might be lower than usual.

📆 The clock is ticking on 2025 windows. If you’re considering any of these, we’re happy to help.

Consult your Tax professional before modifying your strategy.

Mutual funds and ETFs are sold only by prospectus. Please consider the charges, risks, expenses, and investment objectives carefully before investing. A prospectus containing this and other information about the investment company can be obtained from your financial professional. Read it carefully before you invest or send money.

Once you reach age 73, you must begin taking RMDs from your 401(k), traditional IRA, or other defined contribution plan in most circumstances. Withdrawals from traditional IRAs are taxed as ordinary income and, if taken before age 59½, may be subject to a 10 percent federal income tax penalty.

Roth IRA contributions are phased out for taxpayers with adjusted gross incomes (AGIs) above a certain amount. To qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must meet a five-year holding requirement and occur after age 59½. Tax-free and penalty-free withdrawals can also be taken under certain other circumstances, such as the owner's death. The original Roth IRA owner is not required to take minimum annual withdrawals.

10/10/2025

What if you received a call from a number that looked like a family member’s, only to hear them sobbing, claiming to have been in a car crash?

That’s what happened to a Florida mother this summer who received a frantic call from her daughter, saying she’d been in a car accident and needed bail money.

Convinced it was real, the mother wired $15,000. Only later did she learn the entire thing was a scam. The voice had been cloned using AI, according to News 6 in Knoxville, TN.

Scams like this are getting harder to detect.

According to the FCC, criminals are now using AI-generated voices, robocalls, and texts to impersonate loved ones, bank reps, and public figures.

Here’s how to help protect yourself and your family:

⚠️ Pause before responding to urgent requests based solely on a voice or text, even if it sounds familiar

⚠️ If a loved one claims to be in trouble, contact them directly through a number you know

⚠️ Be skeptical of videos or messages from public figures asking for purchases or donations—many are deepfakes

Cybercriminals are weaponizing emotion, trust, and familiarity.

Cybersecurity Awareness Month isn’t just about protecting passwords. It’s about staying alert at all times!

10/09/2025

Your tax-advantaged 529 education savings plan just got a major upgrade that most families might not know about yet.

Here's what changed (and why it matters):

👉 More qualified expenses:
529s now cover test fees, online learning materials, and even education-related therapies such as speech-language pathology and occupational therapy.

👉 K-12 limits expanded:
You can now withdraw up to $20,000 per year for qualified K-12 expenses—double the previous cap.

👉 Career-focused paths included:
Funds can be used for apprenticeships, tools, equipment, certifications, and certificate programs.

A heads-up: While these changes are in effect at the federal level, each state’s 529 rules may differ. Remember, before choosing a plan, it's important to consider not only the state tax treatment but also any associated fees and expenses. Availability of a state tax deduction will depend on your state of residence, as state tax laws and treatment may vary from federal tax laws. If you make nonqualified distributions, earnings will be subject to income tax and a 10% federal penalty tax.

These updates make 529s more flexible than ever. If you have one (or are considering one), these changes are worth understanding.

10/08/2025

Scientists are weighing their options regarding asteroid 2024 YR4, which has a roughly 4% chance of colliding with the moon in 2032.

Options being studied include nudging the asteroid off course or destroying it with a nuclear explosion before it gets too close. Both approaches come with risks:
🌙 Deflection would require precise knowledge of the asteroid’s mass.
🌙 A failed nuclear strike could create a dangerous debris field around Earth and the moon.

NASA says there are no immediate plans to intervene, but the James Webb Space Telescope will study the asteroid next year to refine its trajectory. For now, the research highlights how planetary defense ideas once reserved for science fiction are becoming serious considerations.

A paper from several NASA scientists and other researchers explores whether an asteroid with a 4% chance of hitting the moon in 2032 should be deflected or blown up.

10/08/2025

What’s one financial decision you’ve made that helped you feel more confident?

For many of the people we work with, it’s not a single investment or product—it’s having a strategy.

One that reflects what matters most and adapts as life changes.

Today is World Financial Planning Day, and a good reminder that financial preparation isn’t just for retirement.

It’s about organizing all the moving parts: income, family, giving, goals, and making more informed decisions along the way.

If you’ve been meaning to revisit your strategy or build one for the first time, this might be the reminder you need to start.

If it’s time to take a fresh look at your approach, we’re here to help.

10/06/2025

Private employers shed 32,000 jobs in September, marking the steepest drop in more than two years, according to ADP. Economists had expected a gain of 45,000.

The report is especially significant this month, as the government shutdown has delayed official Labor Department releases. Without those figures, ADP’s count becomes a crucial data point for policymakers and the market.

Job losses were widespread:
- Leisure and hospitality declined by 19,000.
- Professional and business services fell by 13,000.
- Trade, transportation, and utilities dropped 7,000.
- Construction lost 5,000.

Health care and education provided some relief, adding 33,000 positions. However, overall, the data indicate that hiring momentum has slowed heading into the Fed’s October meeting.

Private payrolls saw their biggest decline in 2½ years during September, ADP said.

10/04/2025

Almost all of us know someone who’s been affected by breast cancer.

Over the years, we’ve walked alongside clients as they faced this diagnosis, helping them adjust strategies, navigate uncertainty, and focus on what mattered most to them.

Breast Cancer Awareness Month is a reminder to be proactive: check in on the people you care about, keep up with your own screenings, and support the work being done in research, prevention, and care.

A little awareness, compassion, and early action can go a long way. 🎗️

10/02/2025

Would your parents know what to do if someone called pretending to be you and it sounded exactly like your voice?

That's not a hypothetical anymore. AI has made voice cloning and scam sophistication far more convincing and far more common.

In 2024 alone, global consumers lost over $1 trillion to scams. Among adults over 60, two in five were victims, losing an average of $3,590. Most never saw it coming.

The most common scams we're seeing include:

▪️ Fake tech support pop-ups asking for remote access
▪️ Phishing emails impersonating banks, the IRS, or even charities
▪️ "Grandparent" scams using cloned voices to request emergency money
▪️ Online shopping scams via ads that look 100% legitimate

We've put together a simple guide with practical ways to help you and your family.

🔒 Use strong, unique passwords
📲 Set up banking alerts and two-factor authentication
🧓 Add a trusted contact to your investment accounts
📵 Never act on urgent requests without confirming the source

These scams are no longer about carelessness; they're about emotional manipulation and highly personalized deception.

Awareness is the first defense.

If you want the full guide, send a message.

10/01/2025

Healthcare costs for seniors continue to climb, averaging more than $7,000 annually, even with Medicare coverage. Many turn to Medigap supplemental plans to bridge the gap, but switching plans later can be difficult due to medical underwriting.



That’s where the Medigap birthday rule comes in. In about 18 states, this rule lets beneficiaries change to another Medigap plan of equal or lesser value each year during a window tied to their birthday, without facing new health screenings.



Examples include:
➡️ California: 60-day window to switch to any plan with equal or lesser benefits.
➡️ Oregon: 30-day window to switch to a plan of equal or lesser value.
➡️ Idaho: 63-day window after birthdays to make changes.



While not available nationwide, the rule offers eligible seniors flexibility and potential savings. Understanding state-specific provisions can help Medicare beneficiaries make the most of their options.

This little-known rule tied to your birthday could help you switch your Medigap plans with fewer barriers.