SVM_Financial Planning_012519

Go Green to save money

Where People spend most

Insurance Policies

everyone should have

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PUBLICATION • JANUARY 25, 2019

Sauk Valley Media • January 25, 2019

| FINANCIAL PLANNING

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For immediate release:

The Harvard State Bank

Did you know?

Now Offering Investment Services Harvard, IL – The Harvard State Bank introduces The Harvard State Investment Services, a new division aimed at providing its customers and communities with the investment services they need at a hometown institution they trust. Financial Advisor Randy Golembeck will lead the new division.

The Harvard State Investment Services is ready to assist its clients with individual retirement accounts, employer-sponsored retirement plans, investment brokerage services, college savings plans, trust accounts, charitable giving solutions, life insurance and long-term care insurance.

As the financial advisor, Mr. Golembeck will work with clients to determine their financial goals and create individualized plans to help them reach those goals.

Mr. Golembeck, of Belvidere, graduated from the University of Illinois at Urbana-Champaign with a degree in economics. He has several FINRA securities licenses, as well as a state life and health insurance license. He is ready to assist individuals, businesses and not-for-profit organizations with their investment and insurance needs. His office is located in the 35 N. Ayer St., Harvard, branch of The Harvard State Bank. He can be reached at 815-943-4400.

“The Harvard State Investment Services extends our commitment to offering the quality, progressive services our customers need to attain their financial goals. We are excited that Randy is part of our team,” said Phillip Lehmann, President and CEO of The Harvard State Bank.

Founded in 1866, The Harvard State Bank has over 150 years of experience serving customers and its communities. As a full-service bank, it proudly offers the products and services often found at a big bank while keeping the best interests of its customers as a top priority. The Harvard State Investment Services is a part of that commitment.

The Harvard State Investment Services is a division of The Harvard State Bank (HSB). Securities are: not insured by the FDIC; not a deposit or other obligation of, or guaranteed by, the depository institution; subject to investment risks, including possible loss of the principal amount invested.

Securities, Insurance, and Investment Advisory Services are offered through Midwestern Securities Trading Company, LLC (MSTC).

Member FINRA/SIPC. MSTC and HSB are not affiliated. MSTC is a fully disclosed, introducing broker/ dealer, registered investment advisor, and insurance agency located in East Peoria, Ill. Submitted by The Harvard State Bank

Mortgages, Checking, Business Loans,

Credit scores are important factors when lenders determine if individuals applying for credit or loans are worthy borrowers. Credit is used when purchasing a new home, buying a car, opening a business, or applying for new credit cards. A credit score is a three-digit number that corresponds to a certain range. The standards were established by FICO®, and the higher the score, the better (scores start at 300 and move upward to 850). Various things can impact credit score, and some weigh more heavily toward the final score than others. The following are the factors that influence credit score in order of their importance, according to Wells Fargo bank.

• Payment history (making payments on time) • Current debts (carrying high balances) • Credit history • New credit application inquiries • Types of current credit (mixed forms of loans, credit cards, etc.)

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Work with your energy company.

Energy companies may work with their customers to incentivize conservation. For example, ConEdison, an energy company that serves roughly 10 million people who live in New York City and nearby Westchester County, offers as much as $135 in rebates to customers who purchase Energy Star®-certified smart thermostats and enroll them in a company-sponsored program designed to reduce strain on the local energy grid. People enrolled in the program allow ConEdison to make brief, limited adjustments to their thermostats during the summer, and users can override those adjustments at any time.

By enrolling in such programs, customers can save money and conserve energy.

Work with your neighbors and coworkers. Men and women who drive to their offices can conserve and save by organizing office or neighborhood carpools. Fewer cars on the road means fewer emissions, greatly benefitting the

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planet.

And by sharing driving duties with neighbors and/or coworkers, men and women can dramatically reduce their fuel costs. Parents can organize similar carpools with other parents to cut back on the emissions and fuel consumption associated with getting kids to and from school, sports practices and other activities.

Invest responsibly. Another way to go green and save money is to alter your investment portfolio to focus on socially responsible investments. Such investments include companies that emphasize environmental sustainability. According to the Global Sustainable Investment Alliance, as of 2016 there were $22.89 trillion of assets being professional managed under responsible investment strategies, including those focusing on protecting the planet. Speak with your financial planner about investing with companies that use the environmental, social and governance, or ESG, investing model. Investing in such companies may not cost any less than investing in other industries, but it’s a great way for investors to give back and feel good about the money they’re investing and making.

Embracing eco-conscious practices is a great way to protect the planet and benefit your bottom line.

• Advantages to working with a financial planner • Where people spend most • Insurance policies everyone should have • Get the best mortgage financing deal

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Marty Rapp Financial Consultant 815-622-3317

College Planning Retirement Planning Wealth Management Insurance Investments Located at Sterling Federal Bank Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates.

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Think you can beat the clock?

Do you trust your GPS or do you always assume you can get there just a little bit faster? Arriving to a birthday party a few minutes late isn’t usually a big deal, but overestimating your control can potentially lead to serious problems for you and your finances.

Many of us are guilty of overconfidence at one point or another. Say you check directions and see that it will take 17 minutes to get to your destination and think, “Okay, great. I can make it in 15.”

Sound familiar?

We all have subconscious biases, but that doesn’t mean they need to get in the way of your financial success. As a financial advisor, I can help you set up guardrails against your own biases and give you the tools and education you need to manage your hard-earned wealth with confidence.

In addition to providing personalized financial guidance, I also serve as a knowledgeable resource and accountability partner for my clients, helping them to stay on track for their long-term goals.

How can I help you reach yours?

Kelly Johnson, Financial Advisor CERTIFIED FINANCIAL PLANNER™

President, VIRTUS Capital Partners, LLC 117 S. Lafayette Street // Byron, IL 61010 O: 815.668.8062 // F: 815.915.0000 kelly.d.johnson@raymondjames.com virtuscapitalpartnersllc.com

© 2018 Raymond James Financial Services, Inc., member FINRA/SIPC. Securities offered through Raymond James Financial Services member FINRA/ SIPC. Investment Advisory Services offered through Raymond James Financial Services Advisors, Inc. VIRTUS Capital Partners, LLC is not a registered broker/dealer and is independent of Raymond James Financial Services. 18-BDMKT-3019 SM-ST1623947 01142019

• January 25, 2019

oing green is its own reward. A decision to focus on conserving energy, reducing waste and protecting the planet can pay both short- and longterm dividends, benefitting not only current generations but those to come as well.

Going green also can be a great way to save money. Whether you’re a retiree living on a fixed income and looking to cut costs, a parent hoping to reduce your family’s monthly expenses or simply an eco-conscious individual, the financial benefits to going green can be substantial.

The following are just a handful of the many ways to go green and save money.

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• Go Green to save money

FINANCIAL PLANNING | Sauk Valley Media

Go green to save money

• The Harvard State Bank Press Release

Sauk Valley Media • January 25, 2019

| FINANCIAL PLANNING

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Advantages to working with a financial planner

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nvesting requires some measure of risk. Risk understandably makes people nervous, especially in regard to their finances.

Investing is an important

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component of securing your financial future, and the risk involved with investing should never prevent you from putting your money to work. Many people, including both novice and

experienced investors, overcome their fears about investing and risk by working with certified financial planners, who can do a lot more than make suggestions.

Financial planners can make sense of complex products.

Financial jargon can be hard to understand for those who do not work in finance. Financial planners simplify the complex array of products available to their clients, helping them understand each of their options as well as which of those options is best for them.

Financial planners can expand your investment options.

Financial planners sometimes have access to products that are not directly available to everyone.

Some financial product providers work exclusively through intermediaries (i.e., planners), so working with a financial planner can give investors more options in regard to how to invest their money.

Financial planners do the legwork. Even seasoned investors with a firm grasp of financial products and services may not have the time to stay up on all

the latest investment options.

Financial planners do so for a living. A good planner will inform his or clients of the latest products available and then help clients decide if such products are right for them. That’s a lot of work that busy professionals often do not have the time to do on their own.

Financial planners are certified.

Investors should only work with certified financial planners.

Certification standards vary by country, but certified planners have been vetted by third party organizations and have met rigorous professional standards.

In addition, to maintain their certification, certified planners are required to provide their clients with straightforward advice and put clients’ needs ahead of their own. Those that don’t could be held financially accountable for providing misinformation or bad advice to clients.

Investing is complicated, and many investors find working with certified financial planners is an effective way to secure their financial futures.

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around $4,000 annually, while spending on dining out amounts to around $3,100, for a grand total of $7,100 each year. Statistics Canada notes that Canadian households spent an average of $8,784 in 2016 on food and that 26 percent of that spending was on dining out.

Cutting back on dining out can be a great way to save money, as can becoming a more sale-conscious

grocery shopper.

Healthcare, utilities and entertainment are the next most costly expenditures, respectively.

But each of those items are considerably less expensive than the top three. Therefore, making changes to where one lives, how one gets around and how one eats can certainly add up to considerable savings.

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• January 25, 2019

ho hasn’t tallied up monthly bills or looked at a credit card statement and pondered if they’re spending a little too much? The average person also may wonder how their expenditures compare to other people around the country and what they need to do to enjoy financial freedom in retirement.

According to the U.S. Bureau of Labor Statistics, the average American household spends just about $57,000 each year between necessities and luxuries. Canadians are spending even more than their neighbors to the south. Statistics Canada indicates that, in 2016, the average annual expenditure on goods and services per household totaled $62,183.

So how are people allocating their funds? The results may surprise

you and indicate where it’s possible to trim some fat and save big bucks.

Across North America, housing is the largest line item in people’s budgets. Various sources suggest that housing and shelter needs account for anywhere from 30 to 40 percent of most household budgets. By making housing decisions based on areas with the most efficient cost of living, individuals can save considerably over the long run.

The second largest expenditure category is transportation. This accounts for the cost to finance or lease a vehicle and insure it, and it also includes urban dwellers who rely on public transportation or ride-share services to get around.

Keeping transportation budgets in check can be great a way to save.

Food is the next largest expense.

While everyone needs sustenance to stay alive, how that money is allocated can make a big difference in saving versus spending. The BLS says that food at home costs

FINANCIAL PLANNING | Sauk Valley Media

Where people spend most

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Sauk Valley Media • January 25, 2019

| FINANCIAL PLANNING

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nsurance is something everyone needs but hopes to never use. Without insurance, already difficult situations could be made much worse and cause financial devastation.

Certain types of insurance may not be necessary for everyone, but other types are almost universally necessary regardless of the policy holder’s particular situation. The following are some examples of insurance policies everyone should have.

Health insurance Everyone needs health insurance.

The out-of-pocket costs for routine medical examinations can be quite high, and testing, hospitalization or surgery can take quite a toll on a person’s finances if he or she has no health insurance. In fact, a recent Harvard study noted that most people are statistically one serious illness away from bankruptcy.

Shopping around for adequate coverage and the most affordable plans for one’s situation is essential, as even minimal coverage is better than nothing when it comes to offsetting the rising costs of health care.

Life insurance Life insurance is something most people will never benefit

Insurance policies everyone should have

from personally, but it leaves a financial legacy for the people they love, providing for those they leave behind. Parents or men and women who are the sole breadwinners in the household can rest easy knowing their life insurance will keep their loved ones financially secure in the event of their death. According to the financial resource Investopedia, individuals need to factor in mortgage or rent payments, loans, funeral expenses, child care, and taxes when calculating how much life insurance coverage they need.

Experts suggest 10 times one’s yearly income.

Disability insurance Many people do not believe they will become ill or injured. But the statistics speak otherwise.

Data from the Social Security Administration show that three in 10 workers entering the workforce will become disabled before they reach retirement. Being off from work anywhere from a few weeks to a few months is enough to jeopardize one’s financial future.

Short- and long-term disability policies provide partial and complete income replacement depending on the policy chosen.

Auto insurance People who drive are urged to have auto insurance to protect themselves in the event of an accident or theft. Auto insurance also helps protect against any litigation as the result of accidents when a passenger or other driver is injured. Insurance is a wholly necessary expense that provides peace of mind and protection.

Maintain Your Family’s Quality of Life.

You’ll gladly pick up the tab for your loved ones, whether you’re paying for movie tickets or funding a cruise to the Bahamas.

When you’re no longer there to support your family, Transitional Life Insurance can help them maintain their standard of living.

A Transitional Life Insurance policy provides a high, level benefit during the years you need it the most, and it ends with a guaranteed, paid-up policy that remains for the rest of your life.

Ask your local Pekin Insurance® agent about a Transitional Life policy to protect your family in their time of need.

Learn more about our Life Insurance coverages at WWW.PEKININSURANCE.COM

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Get the best mortgage financing deal rate for you. Lenders may charge additional fees that can drive up the overall costs associated with getting a mortgage. Compare these fees as well so you can be sure you get the best deal.

Consider a mortgage broker.

Mortgage brokers will serve as the middle person in the transaction.

A broker’s access to several different lenders can translate into a greater array of loan products and terms from which to choose.

Learn about rates. Become informed of the rate trends in your area. Lower rates translate into significant savings amounts per month and over the life of the loan. Rate may be fixed, though some are adjustablerate mortgages (also called a

variable or floating rate). Each has its advantages and disadvantages, and a financial consultant can discuss what might be in your best interest.

Discuss points with your financial advisor and lender. Some lenders allow you to pay points in advance, which will lower the interest rate. Get points quoted in dollar amounts so they’ll be easier to compare. If you’re unfamiliar with points, discuss the concept with your financial advisor.

The vast majority of homeowners secured a mortgage to purchase their homes. Learning about the mortgage process can help new buyers navigate these sometimes tricky financial waters.

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• January 25, 2019

determining just how much bargaining power you have for lower interest rates on mortgage loans, according to the financial resource NerdWallet. The higher the credit score, the better. Well before shopping for a mortgage, manage your debt, paying it off if possible, and fix any black marks or mistakes on your credit report.

Investigate various lenders.

The Federal Trade Commission says to get information from various sources, whether they are commercial banks, mortgage companies, credit unions, or thrift institutions. Each is likely to quote different rates and prices, and the amount they’re willing to lend you may vary as well. Investigating various lenders can help you rest easy knowing you got the best

FINANCIAL PLANNING | Sauk Valley Media

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ew people are able to walk into a home, like what they see and then pay for a house in cash. In the vast majority of home purchases, mortgages make the dream of home ownership a reality.

Getting a mortgage requires research and some preparation on the part of borrowers if they hope to get the friendliest terms possible.

Homes are substantial, decadeslong investments, so it’s smart to shop around to find the best rates and lenders available. These tips can make the process of applying and getting a mortgage go smoothly, and may even help borrowers save some money.

Learn your credit score. Your credit score will be a factor in

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Leaving Your Employer?

Understand Your 401(k) Options.

Sauk Valley Media • January 25, 2019

At Edward Jones, we can explain options for your 401(k), including leaving the money in your former employer’s plan, moving it to your new employer’s plan, rolling it over to an Individual Retirement Account (IRA) or cashing out the account subject to tax consequences.

To learn more, call or visit your financial advisor today.

DIXON Wes Morrissey

STERLING Madeline Wold

ROCK FALLS Sam Meier, CFP®

DIXON Aaron Young

STERLING Mike Loos

324 West 1st Street 815-285-3930

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MORRISON Terry P Wilkens

116 East Main Street 815-772-3799

DIXON Chad M Weigle, CFP®, AAMS®

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302 S Galena Ave 815-288-3838

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316 First Avenue 815-622-7948

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