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McKee's Weekly Economic Update 9-28-2020

In this week’s recap: Stocks have a mixed reaction to ongoing uncertainty; additional fiscal stimulus on hold.Weekly Economic Update
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McKee's Weekly Newsletter 9-28-2020 Could You Be Responsible for Your Parents’ N

Hopefully, some of you have an opportunity to try the Double-Apple Walnut Bread from last week’s newsletter.  This week we are going to learn about Somja’s Blueberry Scones.  Could You Be Responsible for Your Parents’ Nursing Home Bills?   In 26 states (and Puerto Rico), laws generally hold children financially responsible for certain debts of their parents. These laws are referred to as filial responsibility laws (or filial support or filial piety laws). The d
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McKee's Weekly Economic Update 9-21-2020

In this week’s recap: The tech sector slip continues for stocks; the Federal Reserve signals that interest rates will not be increased for some time.Weekly Economic Update  Presented by C. Brian McKee, RFC®, CKA®, September 21, 2020 THE WEEK ON WALL STREETStocks slipped as the technology sector remained under pressure and a mid-week announcement by the Federal Reserve failed to inspire investors.The Dow Jones Industrial Average declined 0.03%, while the Standard &
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McKee's Weekly Newsletter 9-21-2020 What Is Life Insurance and How Does It Work?

September is Life Insurance Awareness Month.  We all understand the value of having auto insurance, home insurance, health insurance, but sometimes overlook the importance of having the correct amount of Life Insurance and even knowing the correct type of Life Insurance for your needs.  Today is the best day to look at what you currently have and confirm it meets your needs.        What Is Life Insurance and How Does It Work?   So you’ve got
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McKee's Weekly Economic Update 9-14-2020

In this week’s recap: Stocks continued a downward slide in response to continued uncertainty; fiscal stimulus still delayed.Weekly Economic Update Presented by C. Brian McKee, RFC®, CKA®, September 14, 2020 THE WEEK ON WALL STREETStocks traveled a volatile path last week as investors appeared concerned about the upcoming elections, an uncertain economy, and more delays with additional fiscal stimulus.The Dow Jones Industrial Average slid 1.66%, while the Standard & Po
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McKee's Weekly Newsletter 9-14-2020

Building a successful business is an accomplishment.  What happens if today is your last day of running it?  Does it continue to function without you at the top?  Having a succession plan is one of the most important things you can do as a business owner.  I don’t care if you’re young, healthy, and plan on working for decades longer.  Things sometimes happen outside of our control that prevents you from ever coming into work.  At McKee we have a very ext
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McKee's Weekly Economic Update 9-7-2020

In this week’s recap: Stocks stall late in the week, thanks to tech markets slide. The jobs recovery makes continued progress.Weekly Economic Update  Presented by C. Brian McKee, RFC®, CKA®, September 7, 2020 THE WEEK ON WALL STREETA late week sell-off sent stocks broadly lower as investors took some profits after stocks reached all-time highs earlier in the week.The Dow Jones Industrial Average slid 1.82%, while the Standard & Poor’s 500 slumped 2.31%. The
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9-7-2020 Newsletter: Retirement Is a Beginning

We decided to add a new section to our newsletter, one that highlights notable dates coming up.  Who knows, it might inspire someone to allow the kids to take over the kitchen on September 13th, one to speak like a pirate on September 19th, or be a little more mindful of ones punctuation on the 24th of this month.  The month of September was originally the seventh month of the Roman calendar.  It came from the Latin word septem, meaning “seven”.  Source: https:/
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McKee's Retirement In Site Newsletter for September 2020

Monthly News and Information for Current and Future Retirees Presented by  C. Brian McKee, RFC®, CKA®  - September 2020 QUOTE OF THE MONTH“Elegance is not about being noticed. It's about being remembered.”GIORGIO ARMANI COULD YOU RETIRE AT 55?Suppose you suddenly had to, or the opportunity presented itself. This prospect would not call for disregarding your carefully considered retirement strategy, but it would create some challenges.Social Security, M
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McKee's Monthly Economic Update for September, 2020

In this month’s recap: Stocks prices surged in August as investors cheered positive news of a potential COVID-19 treatment and welcomed a month-long succession of upbeat economic data.Monthly Economic Update  Presented by C. Brian McKee, RFC®, CKA®, September 2020 U.S. MarketsStock prices surged in August as investors cheered positive news of a potential COVID-19 treatment and welcomed a month-long succession of upbeat economic data.The Dow Jones Industrial Average r
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McKee's Retirement In Site Newsletter for August 2020

 FIGURING OUT WHEN TO START YOUR SECOND ACT Many Gen Xers and baby boomers look forward to retiring on their terms. In such a circumstance, the key question becomes when to walk away from work. According to the Center for Retirement Research at Boston College, the average retirement age is now 65 for men and 63 for women. You may retire before or after that age, depending on a few critical factors, which can vary per individual. First, what do you see yourself doing in retirement? If you have
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McKee's Weekly Economic Update 8-31-2020

In this week’s recap: Stocks power higher, while the Dow makes a few changes.Weekly Economic Update  Presented by C. Brian McKee, RFC®, CKA®, August 31, 2020 THE WEEK ON WALL STREETStocks advanced relentlessly last week on positive COVID-19 developments, encouraging economic data, and a supportive policy shift in the Fed’s approach to its target inflation rate.The Dow Jones Industrial Average increased by 2.59%, while the Standard & Poor’s 500 jumped
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McKee's Weekly Newsletter 8-31-2020

Are We Really Headed for a Cashless Society?   Everywhere you turn right now, it seems like someone wants to chat you up about our world turning into a cashless society. Your neighbor’s talking about it, the frenzied news media is talking about it, your social media feed is talking about it . . . and there’s even a viral article on the internet about a cashless society that’s claiming Dave Ramsey wrote it (spoiler alert: he didn’t). So, why all the hype about a
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McKee's Weekly Economic Update for August 24, 2020

In this week’s recap: Stocks reached new highs, erasing steep losses from February and March.Weekly Economic Update 
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McKee's Weekly Newsletter 8-24-2020

In casual conversations it’s not uncommon to hear people talk about how much better things used to be.  Although there is some truth in that outlook, I can’t help but think how blessed we are today.  This week I thought it would be great to look at the progress that was made over the last 60 – 100 years. The past is not always as rosy as we remember… I might not be happy with everything in society currently, but I’m very THANKFUL to be making th
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McKee's Weekly Economic Update for August 17, 2020

In this week’s recap: stocks rise, and consumer prices jump; COVID-19 cases slow; Congressional talks stall.Weekly Economic Update
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McKee's Weekly Newsletter 8-17-2020 Debit or Credit? Pick a Card

Credit is a six letter word that is cringe worthy in a lot of circles.  Regardless of being for or against it, I think we could probably all learn a little more about the “perks” of using credit vs debit in certain circumstances.     Debit or Credit? Pick a Card Americans use debit cards more often than credit cards, but they tend to use credit cards for higher-dollar transactions. The average value of a debit-card transaction in 2018 was just $36, while credit-c
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McKee's Monthly Economic Update for August, 2020

In this month’s recap: stocks rose as better-than-expected corporate earnings and progress on a COVID-19 vaccine encouraged investors.Monthly Economic Update  
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McKee's Weekly Economic Update for August 10, 2020

In this week’s recap: Stocks rise as earnings season winds to an end; no results in fiscal stimulus talks.Weekly Economic Update 
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McKee's Weekly Newsletter: 8-10-2020 College Disrupted: Students Face High Costs

“I learned law so well, the day I graduated I sued the college, won the case, and got my tuition back.” -Fred AllenI think we can all find humor in comedian Fred Allen’s college experience, even if it is just a great one liner.   
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Weekly Economic Update For August 3, 2020

In this week’s recap: stocks have a mixed reaction to earnings, economic data, and a potential stimulus. 
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8-3-2020 Newsletter: Crisis Relief: Financial Lifelines for Affected Workers

“It ain’t about how hard you hit. It’s about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That’s how winning is done!” – ROCKYRocky’s advice is as relevant today as it was when he initially shared it with us.  As a country we have taken a few unexpected hits this year, but we have continued moving forward.  
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McKee's Weekly Economic Update for July 27, 2020

In this week’s recap: stocks slip after heavier jobless claims and U.S.-China strife.Weekly Economic Update    C. Brian McKee, RFC®, CKA®, July 27, 2020   THE WEEK ON WALL STREET  
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7-27-2020 Newsletter: Stay-at-Home Spouse? Consider a Spousal IRA

Stay-at-Home Spouse? Consider a Spousal IRA   An ongoing study of IRA accounts has consistently found that women, on average, have lower retirement savings balances than men (see chart). Though there may be multiple reasons for this disparity, the most fundamental are the wage gap between men and women and the fact that women are more likely than men to take time off to care for children and other family members.1 The wage gap is narrowing for younger women, and more men are stay-at-home d
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McKee's Weekly Economic Update for July 20, 2020

In this week’s recap: stocks see a mixed week, as COVID-19 cases rise, and news of vaccine emerges.Weekly Economic Update  C. Brian McKee, RFC®, CKA®,, July 20, 2020 THE WEEK ON WALL STREETStocks were mixed last week as investors reacted to positive economic data, progress on a COVID-19 vaccine, and the continued nationwide increase of COVID-19 cases.The Dow Jones Industrial Average gained 2.29%, while the Standard & Poor’s 500 rose by 1.25%. But the Nasdaq
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7-20-2020 Newsletter: SECURE Act Changes That Matter to Small Employers

SECURE Act Changes That Matter to Small Employers Many people who work for small businesses don’t have access to retirement benefits. The SECURE Act includes provisions that could make it easier and more affordable for business owners to provide retirement plans and help their employees save money for retirement. Here are some of the specific rule changes that could affect small businesses starting in 2020.   Retirement Plan Tweaks   To help workers track their progress toward r
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McKee's Monthly Economic Update for July, 2020

In this month’s recap: stocks notched a solid gain, overcoming the rise of reported COVID-19 cases and plans of a slowdown in economic re-openings. Monthly Economic UpdatePresented by C. Brian McKee, RFC®, CKA®, July 2020 U.S. MarketsStock prices climbed higher in June, as investors looked beyond an increase in COVID-19 cases as well as reports that several states planned to slow the pace of their economic re-opening.The Dow Jones Industrial Average gained 1.69%, while th
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McKee's monthly Retirement In Sight newsletter for July 2020

  HAS THE PANDEMIC AFFECTED THE RETIREMENT MINDSET? Each year, the Transamerica Center for Retirement Studies surveys baby boomers, Gen Xers, and millennials to gauge their perceptions about retiring. The 2020 survey, conducted in April, studied the impact of the COVID-19 pandemic and how it may have affected their outlooks. Overall, 53% of respondents said that their confidence about retiring remained the same during this spring’s economic turbulence. Twenty-three percent indicated they were le
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Mid-Year Is a Good Time to Fine-Tune Your Finances

Mid-Year Is a Good Time to Fine-Tune Your Finances The first part of 2020 was rocky, but there should be better days ahead. Taking a close look at your finances may give you the foundation you need to begin moving forward. Mid-year is an ideal time to do so, because the planning opportunities are potentially greater than if you waited until the end of the year.Renew Your ResolutionsAt the beginning of the year, you may have vowed to change your financial situation, perhaps by saving more, spendi
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7-6-2020 Newsletter: THE QUARTER IN BRIEF

In this Q2 recap: the economy measures the impact of the coronavirus threat; the stock market rises with help from a dovish Federal Reserve and a rebound in some economic indicators; oil prices and mortgage rates touch historic lows. Quarterly Economic Update A review of Q2 2020, Presented by Presented by C. Brian McKee, RFC®, CKA® THE QUARTER IN BRIEF As a new quarter begins, we look back on an eventful second quarter for households and investors – a quarter in whic
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Quarterly Economic Update for Q2, 2020

In this Q2 recap: the economy measures the impact of the coronavirus threat; the stock market rises with help from a dovish Federal Reserve and a rebound in some economic indicators; oil prices and mortgage rates touch historic lows. Quarterly Economic Update A review of Q2 2020, Presented by C. Brian McKee, RFC®, CKA® THE QUARTER IN BRIEFAs a new quarter begins, we look back on an eventful second quarter for households and investors – a quarter in which the economy took
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6-29-2020 Newsletter: Buying a Timeshare? Try These Alternatives

I’d venture to say at least a few of you are ready to sneak away for some rest and relaxation.  Please take a few minutes and read about some of the options worth considering this summer.     Buying a Timeshare? Try These Alternatives So you’re thinking about buying a timeshare.Hey, we get it! It’s your dream vacation spot, and you can enjoy all the benefits of a vacation home, without the hassle of owning one. It’ll be great!Yeah, right.That&rsqu
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Monthly Economic Update for June, 2020

In this month’s recap: stocks rallied in May, sparked by a supportive Federal Reserve, stories of states re-opening, and reported progress on a COVID-19 vaccine.Monthly Economic Update  Presented by C. Brian McKee, RFC®, CKA®, June 2020 U.S. MarketsStocks rallied in May, sparked by a supportive Federal Reserve, stories of states re-opening, and reported progress on a COVID-19 vaccine.The Dow Jones Industrial Average rose 4.2%, while the Standard & Poor’s 50
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6-22-2020 Newsletter: Can I Buy or Sell a House in 2020?

It’s hard to believe that June is coming to an end as July rapidly approaches.  This week we changed things up slightly.  We actually found a way to add more value to a newsletter we were already pretty proud of.  Today’s addition is actually a podcast: Mind Yo’ BU$INESS…  Can I Buy or Sell a House in 2020? So you want to buy or sell a house, but, well . . . coronavirus. This pandemic has probably kept you from doing a lot of things you want to d
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6-15-2020 Newsletter: Before You Claim Social Security

I feel like we are at the shock and awe phase of 2020 Can I Buy or Sell a House in 2020? So you want to buy or sell a house, but, well . . . coronavirus. This pandemic has probably kept you from doing a lot of things you want to do: You can’t go to the movies, you can’t go to the gym, you can’t watch any sports (besides marble racing)—you can’t even hug your mom!If you’ve already got all your ducks in a row and don’t want to put your housing goals o
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6-8-2020 Newsletter: Why You Need Some Fun Money in Your Budget

Do not undervalue the NEED for some fun money in your budget. Make sure you don’t skip over the history section of the newsletter this week.  We always find fun things to share, but this week might just surprise you.   Why You Need Some Fun Money in Your Budget   You work hard for your money. You’ve got money goals—and you’re knocking them out one monthly budget at a time. On top of it all, when your friends ask you to join them for dinner and c
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6-1-2020 Newsletter: OutThere Colorado celebrates 10 years as online adventure r

These past few months our articles have pretty much focused on things relevant to a life after covid.  We thought it would be fun to mix it up a bit as we start returning to society in our own little way and highlight the great outdoors.  There is a chance that some of you might know the person in this particular article.  Spencer McKee has found a way to excel at social distancing, sometimes it just requires being 14,000 above sea level on the face of a cliff.   OutTher
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5-25-2020 Newsletter: 20 Summer Savings Tips

I’m always looking for ways to save and spend less.  Hopefully, the article below will help us all save a little this summer.  20 Summer Savings Tips   It’s safe to say summer 2020 is going to be different than any other. “Make sure you stay at least 6 feet away from your friends in the pool, Timmy!” That is, if swimming pools are even open—who knows? One thing we do know is that COVID-19 has changed what your typical summer would usually
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5-18-2020 Newsletter: 12 summer reads to help you win with money

Thought we would switch this week’s newsletter up a bit.  Here are twelve great reads on helping you win with money.  12 Summer Reads to Help You Win With Money For most people, summer is best spent going on that long-awaited family vacation, soaking up every ounce of sunshine possible, and checking off all those fun activities from your summer bucket list. With some of the country still sheltering in place, that bucket list may not look like what you thought it wo
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5-11-2020 Newsletter: Does buying in bulk really save you money?

I would venture to say that buying in bulk has increased over the past few months.  Some things are better values than others when buying in bulk and the article below will hopefully help us all make the better choices.   Does Buying in Bulk Really Save You Money?   Does buying in bulk really save you money? There’s only one way to find out: Swing by your neighborhood warehouse store, eat the samples, and load up that shopping cart! Okay, we’re kidding. (But we a
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5-4-2020 Newsletter: Dealing With the Disappointment of Canceled Plans and Misse

I think we all had expectations for how 2020 would go.  I’m not sure even Eeyore could have predicted 2020 starting off as it did.  I’d venture to say that most of you reading this have had moments of are you kidding me over these past few months.  Please take a moment and read over at least the first article on dealing with the disappointment of canceled plans and missed milestone.   Dealing With the Disappointment of Canceled Plans and Missed Milestones &n
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Monthly Economic Update for May, 2020

In this month's recap: Stocks rebounded sharply, fueled by a flattening of the COVID-19 curve and positive results from clinical trial investigating a treatment for the virus. Monthly Economic Update Presented by C. Brian McKee, RFC®, CKA®, May 2020 U.S. MarketsStocks rebounded sharply in April, fueled by a flattening pandemic curve and positive results from a clinical trial investigating a treatment for COVID-19.The Dow Jones Industrial Average, which dropped 14% in M
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4-27-2020 Newsletter: 25 Free Online Courses You Can Start Today

The amount of ways to expand your mind are ever increasing, especially now. Please take some time and look at how amazing some of these opportunities are.   25 Free Online Courses You Can Start Today   So, you’re stuck at home. We know #socialdistancing may mean you’ve got more time on your hands. But instead of binging the latest reality show or staring out the window, what if you used this time to grow your mind and work on your goals? Here are 25 online courses you
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4-20-2020 Newsletter: 6 Coronavirus Scams to Avoid

I took a slightly different approach to this weeks newsletter.  I found two articles that would just seem wrong not to share together. The first is 7 ways to protect yourself from a coronavirus relief scam & 6 signs of a coronavirus relief scam.I’ve also highlighted Flipbooks on the McKee website.  Our Flipbooks are an amazing resource that cover a variety of financial topics and illustrate key financial concepts.    6 Coronavirus Scams to Avoid   If ther
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4-13-2020 Newsletter: Can I Deduct Medical Expenses?

Good afternoon! You should always consult your tax advisor when making decisions on what is acceptable to deduct on your taxes.  The following article will hopefully help you have a better understanding of what could possibly be deductible.  Things like your supply of Flintstone vitamins might not be deductible, but your trip to the dentist might be deductible. Can I Deduct Medical Expenses?  Let’s look at an example to clear this up. Let’s say that afte
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4-6-2020 Newsletter: 25 Free Things to Do With Kids During the Coronavirus Quara

Good afternoon! Social Distancing is something our society is working to excel at currently.  There are a lot of things that we’re not currently able to do, but thankfully we can still exercise our mind.  Yes, the list below starts out for those under five, but quickly advances to things adults will enjoy as well.      25 Free Things to Do With Kids During the Coronavirus Quarantine School is canceled, which means you’re now not only&
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3-30-2020 Newsletter: Key Provisions of the CARES Act

Good afternoon! The CARES Act is something that will have an impact on all of us.  This article will hopefully help us understand some of the opportunities we are now given.       Key Provisions of the CARES Act Distributions can be waived in 2020 for Inherited Accounts, 401(k)s, and IRAs.Provided by C. Brian McKee, RFC®, CKA® Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was s
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3-23-2020 Newsletter: Should I Refinance My Mortgage?

Good afternoon! According to Dave Ramsey, now might be a great opportunity to refinance your home.  He has some strong warnings and great suggestions if you’re considering it.  Should I Refinance My Mortgage? "Lock in a lower rate!""Refinance now and save!" Everywhere you turn right now, there’s a new wave of hype about mortgage refinancing. That’s all thanks to the Federal Reserve dropping interest rates by half a percentage po
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3-16-2020 Newsletter: What is a Power of Attorney?

Good afternoon! Having a qualified power of attorney can easily be overlooked, but it should not be.  Please take a few moments and look over the article below that Dave Ramsey shared with us.                       What is a Power of Attorney? Ally McBeal. Atticus Finch. My Cousin Vinnie. These were some of the most powerful attorneys ever to enter a court of law . . . wel
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3-9-2020 Newsletter: What Do Wealthy People Really Drive

Good afternoon! Society tells us that if were not driving a new fancy car, we must be poor.  There is nothing wrong with driving a new car, but Dave helps us understand the flaws in thinking rich folks are the ones keeping the new luxury car market alive.  What Do Wealthy People Really Drive What brand of car do you think wealthy people most often drive? Mercedes? BMW? Lexus?If you answered any of those models, you’re only partially right. That’s because, acc
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3-2-2020 Newsletter: What is the Gift Tax in 2020?

Good afternoon! This is a great Dave Ramsey article helping us all understand the gift tax for 2020.  What is the Gift Tax in 2020?It seems Uncle Sam can manage to take a cut of everything these days, but does the government really tax gifts? Yup (cue the eye roll). But don’t worry—there’s no need to put your generosity on hold.Let’s take a closer look at what you need to know when it comes to gifts and taxes so you’re ready to roll when you’re
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2-24-2020 Newsletter: Should You Care What the Financial Markets Do Each Day?

Good afternoon! There are a lot of emotions surrounding the market this week & rightfully so.  A great question to at least consider is if you should care what the financial markets are doing each day.  Hopefully, the article below will help answer that question or at least give you a different perspective.  Should You Care What the Financial Markets Do Each Day?Focusing on Your Strategy During Turbulent Times.Provided by  C. Brian McKee, RFC®, CKA® 
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2-17-2020 Newsletter: Retirement Is a Beginning

Good afternoon! Retirement is a new beginning, but is it right for you?  We've been trained that retirement is the goal, but there are many reasons you might choose to stay in the workforce a little longer than initially expected.  Take a moment and answer the four following questions, the answers might surprise you.  Retirement Is a BeginningSee if you are prepared to begin your retirement by answering four key questions. Provided by  C. Brian McKee, RFC&r
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