03-22-2018 Columns

Time for financial “spring cleaning” Daylight is longer and the temperatures are warmer – so it must be spring. For many of us, that means it’s time for some spring cleaning. But why stop with sprucing up your living space? This year, consider extending the “spring cleaning” concept to your financial environment, too. How can you tidy your finances? Here are some suggestions: “De-clutter” your portfolio. As you go through your home during your spring cleaning rounds, you may notice that you’ve acquired a lot of duplicate objects – do you really need five mops? – or at least some things you can no longer use, like a computer that hasn’t worked since 2010. You can create some valuable space by getting rid of these items. And the same principle can apply to your investment portfolio, because over the years you may well have acquired duplicate investments that aren’t really helping you move toward your goals. You may also own some investments, which, while initially fitting in to your overall strategy, no longer do so. You could be better off by selling your “redundant” investments and using the proceeds to purchase new ones that will provide more value. Get organized. During your spring cleaning, one of your key goals may be to get organized. So you might want to rearrange the tools in your garage or establish a new filing system in your home office. Proper organization is also important to investors – and it goes beyond having your brokerage and 401(k) statements in nice neat piles. For example, you may have established IRAs with different financial services companies. By moving them to one provider, you may save some fees and reduce your paperwork, but, more important, you may find that such a move actually helps you better manage your investments. You’ll know exactly where your money is going, and it could be easier to follow a single investment strategy. Also, with all your IRAs in one place, it will be much easier for you to manage the required minimum distributions you must start taking when you turn 70-1/2. (These distributions are not required for Roth IRAs.) Protect your family’s financial future. When cleaning up this spring, you may notice areas of concern around protecting your home – perhaps there’s a crack in your window, or your fence is damaged or part of your chimney is crumbling. Your financial independence – and that of your family – also needs protection. Is your life insurance sufficient to pay for your mortgage, college for your kids and perhaps some retirement funds for your spouse? Do you have disability insurance that can provide you with some income if you become ill or injured and can’t work for a while? Have you considered the high costs of long-term care, such as an extended nursing home stay? A financial professional can help you determine if your insurance coverage is adequate for all these needs. Consider putting these spring cleaning suggestions to work. They may help you keep your financial house in good shape for all the seasons yet to arrive. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

More road investments With the official start of spring earlier this week, I hope we can finally look forward to warmer weather in the coming days. The spring warm-up does, however, mean it is pothole season. I share your frustration about the condition of our roads, and I remain committed to increasing our road investments. To that end, the legislature recently approved an extra $175 million to provide more money for road maintenance and construction across Michigan during this construction season. I know that people are sick and tired of dodging potholes every time they drive and I want to take every opportunity to improve Michigan’s roads. That’s why I supported this investment and will continue to advocate for more road funding dollars in this year’s budget. Investing more in our roads and bridges is consistently near the top of the priority list when I talk with people in the district, and your priorities are my priorities. We had money available to give road repairs a boost right now, and we couldn’t afford to miss this opportunity. In addition to state projects, the bill includes money for county, city, and village roads throughout Michigan. Estimated local allocations include Van Buren County ($669,434), Kalamazoo County ($1.45 million), Bangor ($16,859), Bloomingdale ($5,438), Decatur ($15,706), Hartford ($20,464), South Haven ($41,315), Lawrence ($10,275), Lawton ($17,276), Mattawan ($20,619) and Paw Paw ($26,487), among others. This money is left over from a previous state government budget cycle and is already available, meaning no budget cuts or additional fees or taxes are required for the investment. The money included in the recently approved bill comes in addition to previous changes providing more funding for road and bridge projects across the state. The bill is now under consideration by the Governor. As always, please do not hesitate to contact my office with any questions or concerns. You can reach me toll free at 1-800-577-6212 or via email at BethGriffin@house.mi.gov.

Train prisoners to meet workforce demands I have put together a Senate workgroup to explore training nonviolent prisoners to prepare and serve meals at Michigan Department of Corrections (DOC) facilities. The governor proposed switching from privately contracted food services back to food service provided by state workers. His plan would require the DOC to hire and train more than 350 employees by August, when the current food service contract ends. Currently, there is a shortage of food service workers in both the private and public workforce. We should look at new ideas that could reduce taxpayer costs and help provide valuable on-the-job skills to low-risk prisoners. The food service industry makes up 10 percent of all Michigan jobs, and there are currently over 18,000 food service job openings throughout our state. By changing the way our state prisons provide food services, we have an opportunity to train prisoners to meet workforce needs when they re-enter society, while at the same time, drastically reducing costs. Michigan’s prison population is below 40,000 for the first time in over 20 years — illustrating that our efforts to reduce recidivism are working. The Vocational Village program at the Ionia correctional facility is an example of a program in our prisons that helps reduce recidivism by providing prisoners with useful skills. It makes sense to look at expanding it to food services throughout the prison system. We could reduce our prison costs, provide healthy meals and give prisoners a better chance at being successful upon their re-entry into society. A job is the most important factor in offender success after prison. As always, I look forward to hearing your comments and feedback on the important issues facing Michigan. You can contact me at 517-373-6960.

Results for Southwest Michigan Politics sure seems noisy these days, doesn’t it? It’s hard to keep up. Despite this, my focus remains on delivering real results for our corner of Michigan. There were two big results specifically this past week that I wanted to highlight: Affordable housing: The U.S. Department of Agriculture (USDA) recently announced two new investments in Van Buren County totaling $1.55 million. These grants will work to provide affordable housing to almost 100 local families. Affordable housing is critical for those looking to put down roots in our region. More than just basic shelter, the interior and exterior of the residential units will be beautified and made energy efficient – a real home for residents and their families. We’re all excited to see these projects move forward and the positive impact they will have on community pride. Relief for those affected by historic flooding: The recent, historical flooding has affected residents and businesses alike here in Southwest Michigan. I recently spearheaded a bipartisan letter to U.S. Small Businesses Administration (SBA) Administrator Linda McMahon in urging support for Governor Snyder’s disaster declaration request. These floods affected many throughout Southwest Michigan and were especially devastating to small businesses which lost equipment and inventory – putting them on the brink. These low interest loans will go a long way in helping residents and small business get back on their feet. I remain ever committed to delivering real results for Southwest Michigan – despite the noisy political atmosphere. To learn more about this and other important legislative issues, please visit my website: upton.house.gov or call my offices in Kalamazoo (269-385-0039), St. Joseph/ Benton Harbor (269-982-1986), or Washington, D.C. (202-225-3761).

Colorectal cancer awareness March is National Colorectal Cancer Awareness Month and a perfect opportunity to talk to your doctor about colorectal cancer screening. While colorectal cancer remains the nation’s second-leading cause of cancer-related deaths for men and women, the good news is that it can be prevented and found at an early stage. In Michigan this year, the American Cancer Society estimates there will be 4,570 cases of colorectal cancer and 1,640 deaths due to the disease. Adults age 50 and older should be regularly screened for colorectal cancer. Unfortunately, many people aren’t getting tested because they don’t believe they are at risk or they aren’t aware of the different testing or screening options. The importance of early detection cannot be overstated. This Colorectal Cancer Awareness Month, make it a priority to discuss the different testing options with your provider. Through proper colorectal cancer screening, doctors can find and remove hidden growths (called “polyps”) in the colon before they become cancerous. Removing polyps can prevent cancer altogether. Colorectal cancer risk increases after age 50. However, if you have a family history of colorectal cancer polyps, talk with your doctor about starting testing before age 50. Many cases of colorectal cancer have no symptoms especially early on when it can be more effectively treated. There are several screening options available including colonoscopy and simple take-home tests. Many health insurance plans including the Healthy Michigan Plan cover lifesaving preventive tests. Check with your health plan to find out the details of which colorectal cancer screening is covered. For resources for uninsured residents, and for more information about testing and prevention, visit www.michigan.gov/mdhhs.