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The Flyer:

by Propel Financial Advisors

News & Insights

Want to learn more about a specific area of finance, investing or tax? We'd love to hear from you! Contact us via email on Facebook or LinkedIn.

Propel's Strategies for Saving Thumbnail

Propel's Strategies for Saving

Saving money is a challenge for most people. In our experience, those with the most success set an intention around their spending. Then they create a plan that automates the savings so you don't have to think about it. Why save? Increased savings provides greater flexibility in your life, reduces stress by providing security for you and your loved ones, and increases your ability to give. Where to start? First, identify your money personality. Understanding your relationship with money can better focus your approach to adjusting your financial behavior. Recognize that changing habits around money takes dedication and time. Be patient with yourself and recognize that things won't change overnight. Savings strategies are never one-size-fits-all. Implement one or two from the list below and see how your life changes. That may provide you with the inspiration to try even more.

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Spread the Wealth:  Strategies for Efficient Use of Your Savings Thumbnail

Spread the Wealth: Strategies for Efficient Use of Your Savings

Many of us cannot choose when we retire. Some of us just like to work and others must work for financial reasons. Whether we choose to retire, or the choice is made for us due to layoffs or health issues, there will likely come a time when we must live off our savings. COVID notwithstanding, the United States has experienced an extended period of economic prosperity following the Great Recession of 2008-2009. That prosperity becomes evident when you look at the market value of your retirement savings. For many of us, that retirement savings is predominantly held in a 401(k) and/or traditional IRA. Those are pre-tax savings accounts, meaning all distributions will be taxed at regular income tax rates upon withdrawal.

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Crypto, Meme Stocks, and Other Shiny Objects Thumbnail

Crypto, Meme Stocks, and Other Shiny Objects

Over the course of the past year, during the Covid lockdowns and into the re-opening phase, we’ve seen a few key themes play out in the markets. One theme is what we refer to as “Shiny Objects.” Some of the shiny objects that siphoned a lot of funds and attention this past year were cryptocurrencies, meme stocks, NFTs (non-fungible tokens) and SPACs (Special Purpose Acquisition Company). Here I’ll focus on the bigger ones – crypto and meme stocks. First, I’ll cover some background to provide some context into how we think about these shiny objects.

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Personalized Advice from a Trusted Financial Advisor vs. Mass Market Retirement "Experts" Thumbnail

Personalized Advice from a Trusted Financial Advisor vs. Mass Market Retirement "Experts"

Recently, Christine Benz of Morningstar interviewed Ed Slott about recent legal changes that impact retirement and tax planning. Ed Slott (self-proclaimed retirement expert) discusses the impact of the SECURE Act and promotes his latest book on retirement. Propel Advisor Danielle Woods covered the impact of the SECURE Act in a recent blog post "Traditional Retirement Savings: Why Tax-Deferred Accounts like 401(k)s May Be the Wrong Choice for Some Taxpayers" and our Jan. 27, 2021 Webinar, "New Year, New Strategies: Rethinking Your Savings Plan".

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Traditional Retirement Savings: Why Tax-Deferred Accounts like 401(k)s May Be the Wrong Choice for Some Taxpayers Thumbnail

Traditional Retirement Savings: Why Tax-Deferred Accounts like 401(k)s May Be the Wrong Choice for Some Taxpayers

Did you know that the concept of saving for retirement has only been around for two generations? In 1940, the average life expectancy for men was 60.8 years. Women fared a bit better with an average life expectancy of 65.8. Historically, people typically worked until they died or physically couldn’t work any longer. In 1935, when the Social Security Act was signed into law, citizens had to be 65 years old to receive Social Security, which meant a small percentage of people ever received payment. Today, the average life expectancy for men and women is over 78 years, and non-disabled citizens can receive Social Security payments as early as age 62. On top of that, the desire to retire “early” is growing like wildfire. When considering the length of our lives and the cost of living compared with 1940, it’s no wonder we are having trouble keeping up with our retirement needs.

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Personal Finance in the Time of COVID:  Your Advisor is Your Best Untapped Resource Thumbnail

Personal Finance in the Time of COVID: Your Advisor is Your Best Untapped Resource

The irony of COVID happening in the year 2020 has not been lost on me. If we could ever hope to benefit from hindsight, that time is certainly now. While we have all spent years complaining about our daily grind, we suddenly miss it terribly; and the choices we once took for granted seem like luxuries. (I know that I am going through serious movie theater withdrawal.) Alas, changes must be made, and we humans have an incredible history of adaptability. I have been a financial advisor for more than 20 years, and I know there are positives even during tough times like these. From conversations with clients, friends, and family these past weeks, I would say that priorities have shifted. Most are missing family, some are cooking more, and many are recognizing that their personal finances cannot survive on autopilot. When I sat down to write this article, I immediately went to the thesaurus to look up alternatives to the word “plan.” Some people, like me, are natural planners. They make lists; they thrive on routine; they worry about what they may have missed. Others, quite literally, avoid any reference to the word. This article is for the latter group…and you know who you are.

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Rollover your 401(k) to Propel Financial Advisors: Our Six-Step Guide Thumbnail

Rollover your 401(k) to Propel Financial Advisors: Our Six-Step Guide

Propel Financial Advisors works with you to determine the best investment approach for your IRA rollover. We work with our clients to craft personalized investment portfolios; you get a custom fit. We keep up with the markets and investment strategies so you can spend your time on what matters to you. We stay in regular contact with you and are always available.

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News From the Control Tower - 05/06/2020 Thumbnail

News From the Control Tower - 05/06/2020

This week's reads feature: (1) Warren Buffet's realistic message to investors; (2) AMC's side of the dispute with Universal over the Trolls World Tour movie; (3) A labor success story for Domino's workers in Southern California; (4) How Coronavirus has infiltrated critical food factories, including a bread mix factory in Southern Illinois; (5) An in-depth look at the state of the concert business. It's not just fans hurting, but also the venues, their employees, bouncers, roadies, and more who work summer concerts and festivals; and a Bonus article on the increase of Americans without retirement savings moving in with their millennial children.

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