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Congratulations to the winner of our thankful contest, Jamie! She is so thankful for her... Read More November 17, 2017
The holiday season puts you at risk for identity theft. Learn simple tips that can... Read More November 16, 2017
Warm up with some hot chocolate in branch this Friday! ☕️ Read More November 15, 2017
W’re hiring! If you are looking for an environment that encourages you to be the... Read More November 15, 2017
Save the date! Our blood drive is coming up soon. #savelives 💕 Read More November 14, 2017
This week is the last chance to enter to win a $100 grocery gift card!... Read More November 14, 2017
Get Adults at Kids’ Prices during one of the most popular times of year –... Read More November 13, 2017
This feast doesn’t have to break the bank! https://www.moneytalksnews.com/slideshows/7-ways-to-squeeze-savings-from-your-thanksgiving-celebration/?allFrugal doesn’t have to mean “cheap.” Here... Read More November 12, 2017
https://www.moneytalksnews.com/this-retirement-expense-is-rising-fast-have-you-planned-for-it/?utm_source=newsletter&utm_campaign=email-2017-10-11-am&utm_medium=email&subscriber=yesHealth care isn’t the only retirement expense that can run you six figures. Long-term care... Read More November 11, 2017
It’s #FeelGoodFriday don’t forget, we are holding a Food Drive at all three branches! Read More November 10, 2017

Featured

Thanksgiving Traditions

squash and pumpkins

Thanksgiving is right around the corner! This year, why not throw in one or two new activities and see how they are received by your guests? If they are enjoyed, you may have a few fun Thanksgiving traditions for years to come!

Here are some simple tradition-starting ideas that cost virtually nothing but can add a bit more meaning and a few more memories to your Thanksgiving holiday.

1. Give back before feasting – Whether it’s running a 5K Turkey Trot that sponsors food bank charities or volunteering to help prepare and serve a hot Thanksgiving meal for a local soup kitchen, giving back to your community has a way of kicking off the holiday season in its intended spirit and yields thankfulness for what you have.

2. Create a “What We Are Thankful for Tree” – Gather a few fallen branches from outside and place them in a vase so they resemble a tree. Cut out colorful pieces of paper into shapes of leaves and place them underneath the tree. Invite family and friends to write down anything they feel thankful for. Glue, tape or hang them from the tree and use it as a centerpiece for your Thanksgiving meal as a reflection on the year’s blessings.

3. Toast all the way around the table – Invite each person, young and old, to take a moment to toast to “what they are most thankful for this year.” This quickly floods Thanksgiving dinner with a strong sense of gratitude and helps the flow of conversation throughout the meal as special moments are shared, remembered and celebrated.

4. Get active after dinner – After the meal has been eaten, and possibly before dessert has been served, gather everyone in your Thanksgiving celebration to enjoy a bit of time being active outside. Grab a glass of hot cocoa, coffee or wine and take a nice, long walk around your neighborhood together. Or, host a competitive game of wiffle ball with your family and/or neighbors! It should help stimulate everyone’s metabolism and at the very least will create some great memories.

5. Celebrate “Friendsgiving” – Start a tradition with your friends to have a potluck party with all of your Thanksgiving leftovers the Saturday after Thanksgiving. Make it a competition to see who can have the best re-purposed leftover dish or turn the gathering into an annual board game tournament! This can be a fun time to reconnect with those close friends after the Thanksgiving holiday.

If you have any unique Thanksgiving holiday traditions that your family celebrates, we’d love to hear about them! Enjoy your Thanksgiving Day!

All the best,

Steve Lindquist

steveSteve Lindquist
stevelindquist@peakfns.com
Financial Consultant
9600 S McCarran Blvd
Reno, NV 89523
(775) 789-3140
http://www.gbfinancial.org/

Steve Lindquist is a registered representative offering securities and advisory services through Cetera Advisor Networks LLC, member FINRA/SIPC. Cetera is under separate ownership from any other named entity. Registered address: 9600 S McCarran Blvd., Reno NV 89523.
Investments are not deposits; not NCUSIF insured; and not insured by any federal government agency. No credit union guarantee. May lose value.

Investors should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. This information is found in the issuer’s official statement and should be read carefully before investing.
Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investing in any state’s 529 Plan.

Investments for Her

business woman

Many women are more involved with their finances today, but are they getting the most out of their investments?

To take full advantage of the markets and ensure your money matters are sound today and tomorrow, it is important to take control of your financial future. Here are a few tips to help you get started:

  • Be involved in your money matters
  • Develop the ability to manage your own assets
  • Do your homework
  • Put your needs first
  • Step outside your comfort zone

For more information on how to take an active role in your finances throughout the different phases of your life, check out this guide from NY Life/Mainstay Investments, Savvy Investments for Her.

Also, join us for a complimentary seminar on Retirement Issues Facing Women on October 12th. 

Please contact Steve Lindquist at 775-789-3140 if you have any questions or want to talk through these considerations today.

Steve Lindquist

 
Steve Lindquist 
stevelindquist@peakfns.com 
Financial Consultant
9600 S McCarran Blvd
Reno, NV 89523 
(775) 789-3140
Registered representative offering securities and advisory through Cetera Advisor Networks LLC (doing insurance business in CA as CFGAN Insurance Agency), member FINRA/SIPC.  Cetera is not affiliated with any other named entity. CA Insurance License #0G30574
Investments are not deposits; not NCUSIF insured; and not insured by any federal government agency.  No credit union guarantee.  May lose value.
 
Investors should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. This information is found in the issuer’s official statement and should be read carefully before investing.
Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investing in any state’s 529 Plan.

The DOL’s Fiduciary Duty Rule

laptop, phone and notepad

This is something you may already be aware of, the Department of Labor’s (DOL) Fiduciary Duty Rule or “Conflict of Interest” Rule, which applies to IRAs and retirement accounts subject to the Employee Retirement Income Security Act (ERISA). In February, the President issued a directive to the DOL requiring it to re-analyze the Rule to ensure that it does not adversely impact how Americans like you can receive financial advice. To facilitate this review, the DOL decided to roll back the implementation date from April 10 to June 9, and also determined that certain elements of the Rule would not go into effect until January 1, 2018.

I applaud the DOL’s delay to assess if further amendments to the Rule are warranted and to determine if certain requirements of the Rule should be further postponed. I am also encouraged that the DOL is actively calling for the Securities and Exchange Commission (SEC) to be part of the ongoing evaluation, and that the SEC has issued its own request for comments. My ultimate hope is that this process will benefit consumers and advisors alike in creating a fiduciary standard that applies equally to all investment advice and is also easy to understand.

As your financial advisor, I greatly support the goal of investor protection for all investor assets, not just retirement savings. [OPTIONAL for ADVISORY CLIENTS: Because you have entered into an advisory agreement with me, you know that I am required to act in a fiduciary capacity as a result of that agreement.] I strive to do what is in the best interests of my clients in every interaction and firmly believe all financial advisors should do the same. To that end, I wholeheartedly support appropriate regulation and full transparency for investors, and I take the responsibility of complying with regulations from several agencies, and that of providing financial advice to you, very seriously.

As the various elements of the Rule went into effect on June 9, you can expect that you may receive additional disclosures or other information, or that I may ask you for some additional information that will be required under the new Rule during the coming months as we discuss your investments. For the most part, this will simply be business as usual and I will let you know of any impact to you and your accounts. Please rest assured that as always, your best interests are my primary concern and the highest focus of our business relationship.

Thank you for allowing me the privilege of helping you achieve your financial goals. Please don’t hesitate to reach out to me if you have any questions.

Sincerely,

Steve Lindquist

 
Steve Lindquist 
stevelindquist@peakfns.com 
Financial Consultant
9600 S McCarran Blvd
Reno, NV 89523 
(775) 789-3140
Registered representative offering securities and advisory through Cetera Advisor Networks LLC (doing insurance business in CA as CFGAN Insurance Agency), member FINRA/SIPC.  Cetera is not affiliated with any other named entity. CA Insurance License #0G30574
Investments are not deposits; not NCUSIF insured; and not insured by any federal government agency.  No credit union guarantee.  May lose value.
 
Investors should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. This information is found in the issuer’s official statement and should be read carefully before investing.
Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investing in any state’s 529 Plan.

529 College Savings Plan: What You Need to Know

family in back of car

529 College Savings Plan: What You Need to Know

Many parents today suffer from sticker shock when they learn what it costs to send their children to college. The price for higher education in this country has grown astronomically to the tune of $33,480 for tuition at a private university and nearly $25,000 for out-of-state residents attending a public university, according to the College Board’s estimate of average 2016-2017 school year tuition and fees1. Tuition has increased almost four percent at private schools and nearly three percent at public universities—and those numbers are up nearly five percent over the last 10 years2. And, these fees do not include room and board, books, etc.

Whether you have a baby, high school-aged child or intend to help your grandkids, it may be time to get familiar with a 529 College Savings Plan. Interesting fact about the “529” part of the plan—which comes from that part of the tax code where the provision lives—is that some have dubbed May 29th “National 529 Day” (the fifth month and 29th day). While it’s no Cinco de Mayo, the cost of college can be a hard pill to swallow and this commonly used college savings plan has offered parents and their college-bound kids tax-free withdrawals to pay for college. Whether you decide to consider a plan on May 29th or any other day of the year, here is the information you need to know about a 529 College Savings Plan:

What is a 529 College Savings Plan?

Also known as a “qualified tuition program,” a 529 Plan allows an individual to save for higher education expenses for a determined beneficiary. Anyone—whether they are a family member or friend—can establish a 529 Plan for a designated beneficiary. A 529 Plan is provided by a state, an agency of the state or by an educational institution itself. Money invested in the plan accumulates on a tax-deferred basis and distributions used for higher education expenses are tax and penalty-free. Here’s the catch, the funds must be used for approved education expenses. We will want to talk before you invest in a 529 Plan to discuss the eligibility requirements. Some plans will only allow savings to be used to pay for college depending on the investor’s designated state, for example.

529 College Savings Plan vs. a trust

If you are considering establishing a trust for your child to pay for college instead, be aware that most trust funds may not be an effective means of sheltering this cash from the financial aid process—if your child will be applying for aid. It could actually backfire as trust funds can be counted in the financial aid process as an asset of the child. This could affect your child’s eligibility for aid. A potential work around could be established if the trust was restricted to withdrawing just the principle for the beneficiary.

What does a 529 cover?

While 529 Plans do have to be used for qualified expenses, it’s surprising how much they can actually cover. They can be used to help pay for undergraduate or graduate school, trade or technical schools, even cooking schools and some accredited schools abroad. They can also be used to pay for room and board, books, supplies or other fees.

Anything else I should know about a 529?

You are not relegated to using your state’s 529 plan and can shop around to find the right plan—you’ll just need to factor in fees and of course the performance of the investments. However, you may only be eligible for a tax deduction if you use your state’s plan. You can also open multiple 529 plans, meaning you could hold them in multiple states and won’t be required to consolidate or combine them. Some plans offer a variety of ways to invest including mutual funds, exchange traded funds as well as risk-based or age-based investment options. Finally, there is a high threshold to the limit of these accounts, even going as high as $400,000. In addition, there is no “use it or lose it” factor with these accounts. In fact, 529 owners can change the beneficiary anytime and without limitation.

Give Steve Lindquist a call today at 775-789-3123 to discuss savings and investment strategies to ensure you have the funds to send your child or grandchild off to the school of his or her dreams.

Registered representative offering securities through Cetera Advisor Networks LLC (doing insurance business in CA as CFGAN Insurance Agency), member FINRA/SIPC.  Cetera is not affiliated with any other named entity. CA Insurance License #0G30574

Investments are not deposits; not NCUSIF insured; and not insured by any federal government agency.  No credit union guarantee.  May lose value.

 

Investors should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. This information is found in the issuer’s official statement and should be read carefully before investing.

Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investing in any state’s 529 Plan.

 
1 http://www.collegedata.com/cs/content/content_payarticle_tmpl.jhtml?articleId=10064

2 http://www.savingforcollege.com/tutorial101/the_real_cost_of_higher_education.php

Retirement in 2017

Portrait Of Senior Couple In Park

We thought you might find the following information useful as it explains noteworthy changes to Social Security that both retirees as well as those currently paying into Social Security can expect in 2017.

  • Cost-Of-Living Adjustment– Based on an increase in the Consumer Price Index over the last two years, a Cost-Of-Living Adjustment (or COLA) will be implemented for Social Security income beneficiaries in 2017. This will result in a 0.3 percent increase in payouts, or approximately an extra $5 per month.1 A modest increase compared to a 14.3 percent payment increase back in 1980.2
  • Earnings limit increase– Retirees who plan to work and collect Social Security at the same time may have some of their benefit withheld if they exceed the new earnings limit. In 2017, the earnings limit for those aged 65 and younger will increase to $16,920 from $15,720. Those taking Social Security benefits, who earn more than the new amount, will have $1 in benefits held back for every $2 in earned income over the $16,920 limit. However, the earnings limit will go away once you turn 66 and Social Security payments will no longer be withheld if you work and receive benefits at the same time. Also, payments will increase to credit you for any part of your benefit withheld in the past, according to US News & World Report.3
  • Changes to double claiming– Often married couples age 66 or older have taken advantage of collecting spousal Social Security payments worth half of the higher wage earner’s benefit amount only to later opt to take payments based on the other spouse’s individual work history, which now would be higher due to delaying the claim. Yet in 2017, this will no longer be an option. Retirees who turned 62 on January 2, 2016 or later will no longer be able to double claim a spousal payment and an individual payment at separate times. Instead, they will now just receive the higher of the two benefit options.

Bump in full retirement age – Like the COLA, it may seem like a modest increase, however, this change could affect the Social Security payments that you may plan to receive. Seniors reaching the eligible full retirement age of 66 years old will now have to wait 2 months (age 66 and 2 months) in order to receive full benefits.

How will this impact retirees? Those planning to claim Social Security as early as possible—such as age 62—will see a larger reduction from their overall benefits (slightly larger than the one they’d receive for claiming benefits early) with the extra 2 months tacked onto the full retirement age.

Give our financial services department a call at 775-789-3123 if these changes have you thinking about your retirement strategy, or if you just want more information.

All the best,

Steve Lindquist
stevelindquist@peakfns.com
Financial Consultant
9600 S. McCarran Blvd.
Reno, NV  89523
(775) 789-3140
gbfinancial.org
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Registered representative offering securities through Cetera Advisor Networks LLC (doing insurance business in CA as CFGAN Insurance Agency), member FINRA/SIPC.  Cetera is not affiliated with any other named entity. CA Insurance License #0G30574

Investments are not deposits; not NCUSIF insured; and not insured by any federal government agency.  No credit union guarantee.  May lose value.