07-11-2019 Columns

Life events can lead you to see a financial advisor

Over the years, you’ll experience many personal and professional milestones. Each of these can be satisfying, but they may also bring challenges – especially financial ones. That’s why you may want to seek the guidance of a financial professional. Here are some of the key life events you may encounter, along with the help a financial advisor can provide: New job – When you start a new job, especially if it’s your first “career-type” one, you may find that you have several questions about planning for your financial future, including your retirement. You may have questions about how much you should contribute to your employer-sponsored retirement plan. What investments should you choose? When should you increase your contributions or adjust your investment mix? A financial advisor can recommend an investment strategy that’s appropriate for your goals, risk tolerance and time horizon. Marriage – Newlyweds often discover they bring different financial habits to a marriage. For example, one spouse may be more of a saver, while the other is more prone to spending. And this holds true for investment styles – one spouse might be more risk-averse, while the other is more aggressive. A financial advisor can help recommend ways for you and your spouse to find some common ground in saving and investment strategies, enabling you to move forward toward your mutual goals. New child – When you have a child, you will need to consider a variety of financial issues. Will you be able to help the child someday go to college? And what might happen to your child, or children, if you were no longer around? A financial advisor can present you with some college-savings options, such as an education savings plan, as well as ways to protect your family, such as life insurance. Career change – You may change jobs several times, and each time you do, you’ll need to make some choices about your employer-sponsored retirement plan. Should you move it to your new employer’s plan, if transfers are allowed? Or, if permitted, should you keep the assets in your old employer’s plan? Or perhaps you should roll over the money into an IRA? A financial advisor can help you explore these options to determine which one is most appropriate for your needs. Death of a spouse – Obviously, the death of a spouse is a huge emotional blow, but it does not have to be a financial one – especially if you’ve prepared by having the correct beneficiary named on retirement accounts and life insurance policies. Your financial advisor can help ensure you have taken these steps. Retirement – Even after you retire, you’ll have some important investment decisions to make. For one thing, you’ll need to establish a suitable withdrawal strategy so you don’t deplete your retirement accounts too soon. Also, you still need to balance your investment mix in a way that provides at least enough growth potential to keep you ahead of inflation. Again, a financial advisor can help you in these areas. No matter where you are on your journey through life, you will need to address important financial and investment questions, but you don’t have to go it alone – a financial professional can help you find the answers you need. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

SW Michigan heard during State budget talks

This summer, the state Legislature is in the midst of budget negotiations to determine how the state raises funding and where it goes for the 2019-2020 fiscal year. Key topics I’ve heard across the district include funding for roads, education, clean drinking water, senior services, and the Governor’s proposed gas tax increase. Last time, I went into detail on the House road funding proposal and addressed concerns I’d heard regarding education funding and the gas tax. While there are many pieces to the budget, key features to highlight are that the House proposal does not include the Governor’s gas tax increase and instead puts every dollar already being collected from the existing gas tax to roads rather than shifting it to other things. With this in mind, it is important to note that the school aid fund will still be receiving an increase from last year’s funding, yet again. Protecting our seniors from fraud, abuse, and excessive medical costs remains a central focus of mine. That is why I have been working with my colleagues on the appropriations committee to specifically include additional funding for in-home senior services. On June 20, I introduced legislation to codify the Michigan PFAS Action Response Team (MPART) into law. Since Michigan took the lead on PFAS testing, MPART’s efficient communication and swift action has helped communities affected by PFAS, like Hartford, get the answers they need and quickly transitioned to safe water. While investigation and detection are only the beginning, they are important first steps in keeping families safe. With this plan, rapid detection and response will continue unhindered. As budget talks continue in Lansing, I am actively advocating for you and funding for our community so you don’t have to worry about the quality of the water coming out of your faucet. As always, please do not hesitate to contact my office with any concerns. Call 1-800-577-6212 or email BethGriffin@house.mi.gov.

A more connected future

Michigan is known to many for many things, but perhaps the two most well-known aspects of our state are that it is home to the auto industry and it contains abundant natural resources. These two things — cars and the outdoors — have played significant roles in the lives of generations of Michigan families. From the Model T to the modern crossover vehicle, our automobiles have helped connect us to nature in ways that we may not have otherwise been able to. The modern car is advancing; it’s more efficient and environmentally conscious. Chief among these advancements is the electric vehicle (EV), and as you are likely aware, manufacturers like Tesla, Nissan, Chevy and Ford all offer some form of a plug-in EV. But for all the benefits that these newer vehicles provide, one drawback most of them contend with is that of range. Range anxiety, as it is sometimes referred to, can hinder or even spoil a road trip due to a lack of EV charge stations along the way. And when it comes to taking an EV to a state park it can be even more of a challenge. For some of us in the Legislature, however, that challenge has been viewed as an opportunity. I was happy to join with a bipartisan group of senators and representatives to introduce an eight-bill plan that aims to establish the first statewide charging network in the nation, including and especially in Michigan’s 103 state park and recreation areas, like Grand Mere State Park and Warren Dunes State Park, for example. My bill would allow the state to install or lease space for electric charging stations in state parks, which in addition to aiding EV drivers, could also help generate revenue specifically for the park system. Other bills in the plan would: Create an Electric Vehicle Council within the Michigan Department of Transportation. The council, composed of experts in energy, technology, transportation, environment, economic development and other related fields, would be tasked with developing a plan for a statewide charging infrastructure in coordination with utilities and private companies; allow the state to install or lease space for electric vehicle charging stations at state park-and-rides; and, provide tax incentives for small businesses and multi-unit housing to install electric vehicle charging stations.

Sexual health

Taking care of your sexual health matters! It’s just as important as keeping the rest of your body and mind healthy. The Berrien County Health Department’s Sexual Health Clinic is here to help you plan for a healthy future. The clinic offers accessible, non-judgmental, and supportive services to women, men, and teens regardless of income, insurance status, background, or sexuality. Services are low or no-cost, are 100% confidential, and include birth control, STD testing, and annual wellness exams and testing for men and women. Services available are recommended annual wellness exams (pap smears, pelvic exams, breast exams, and testicular exams); STD testing and treatment; rapid HIV testing and counseling; pregnancy testing; birth control methods including the pill, the patch, Depo-provera shot, and emergency contraception; free condoms; immunizations, including the human papillomavirus (HPV) vaccine for men and women; education and support to help you plan for a healthy future and take control of your sexual health. Sexual Health clinical services are provided at little-to-no cost. Most major insurance plans are accepted, including most Medicaid plans. Costs are based on a sliding-fee scale determined according to your income and no one is turned away for inability to pay. Sexual Health Clinic services are available at all Berrien County Health Department locations (Benton Harbor, Niles, and Three Oaks) by appointment only. To make an appointment for any location or for more information, please call (269) 926-7121. More information about the Sexual Health Clinic can be found at www.bchdmi.org.

What I saw during my visits to southwest Michigan farms

Last week, I visited three farms in southwest Michigan and listened to the challenges facing our farmers. After what I saw at Russell Costanza Farms, Hood Dairy Farms, and Gibson Farms, here’s the bottom line – our farmers need help, and I am working hard to deliver that help for them. The extreme weather – from heavy snowfall, to the polar vortex, and now to record rainfall – poses enormous challenges for our farmers, growers, and producers. According to USDA, only 63 percent of Michigan’s corn was planted as of June 9 and only 43 percent of soybeans had been planted. And because of the challenges with harvesting and planting, livestock and dairy farmers are facing higher feed costs. Last Tuesday, I spoke with the United States Department of Agriculture and encouraged them to approve the Disaster Designation Michigan requested in June. If USDA approves this request, additional assistance would be made available to farmers in our part of the state and across Michigan. I will continue to fight for our southwest Michigan farmers and encourage USDA to step up to make sure our farmers have the assistance they need. To learn more about other important legislative issues, follow me on Twitter at @RepFredUpton or visit my website: upton.house.gov. You can also call my offices in Kalamazoo (269-385-0039), St. Joseph/Benton Harbor (269-982-1986), or Washington, D.C. (202-225-3761).