EDWARD JONES

Are you on track to meet your financial goals?

 October is Financial Planning Month; consider taking these steps.

 Identify your goals. To know if you are making progress toward your goals, you first have to identify them. Of course, you will have a variety of goals in life, such as helping pay for your children’s college educations. More than likely, though, your most important long-term financial goal is to build enough resources to enjoy the retirement lifestyle you have envisioned. But we all have different ideas for how we want to spend our retirement years. Some of us may want to stay close to home, volunteering and pursuing our hobbies, while others want to visit the vineyards of Bordeaux or explore the pyramids of Egypt. So, name your goals and, as much as possible, put price tags on them. Once you know about how much your retirement is going to cost, you can create an investment strategy that may ultimately provide you with the income you will need.  Do not underestimate your cost of living. Even after you have identified some of your retirement goals, and estimated their costs, you still have not developed a complete picture of your future cost of living. You also need to take into account other potential major expenses, such as health care. Once you are 65, you will get Medicare, but that will not cover all your medical costs – and it might cover only a tiny portion of those expenses connected with long-term care, such as a nursing home stay or services provided by a home health aide. A financial professional can help you explore specific methods of dealing with these types of long-term care costs.  Locate “gaps” – and work to fill them. After you have had your investment strategy in place for a while, you may see that some “gaps” exist. Is your portfolio not growing as fast as it should to help you reach your goals? If not, you may need to review your asset allocation to make sure it is aligned with your risk tolerance and portfolio objective. Do you find that you own too many of the same types of investments? This over concentration could be harmful to you if a downturn affects one particular asset class, and you own too much of that asset. To help prevent this from happening, be sure to diversify your dollars across a range of investment vehicles. Keep in mind, though, that diversification cannot guarantee a profit or protect against all losses.  Protect yourself – and your family. Saving for your ideal retirement is certainly a worthy goal, but you have other ones – such as providing for your family in case you are not around or if you become ill or incapacitated and cannot work for a while. That is why you will need adequate life insurance, and possibly disability insurance, too. Your employer may offer you both these types of coverage as an employee benefit, but it might not be enough – so you may want to explore private coverage as well.  Financial Planning Month will come and go. But by following the above suggestions, you can create some strategies that will bring you a lifetime of benefits.

No drama – just results

 It was a big day last Saturday. Well, yes, it was “Buy Nearby” Day, Michigan hosted Wisconsin in a battle of top college football teams, and people visited our orchards to pick apples. All really good things, but it was also a significant day that passed by and very few people noticed. It was the start of the fiscal year for the State of Michigan. And for the sixth straight year, no legislators were sleeping on the floor of the Capitol in Lansing. There was not a threat of a government shutdown. No protestors ringed the Governor’s office. It was not always that way.  In 2007 and 2009 Michigan had brief government shutdowns as lawmakers and the Governor could not come up with a budget. That seems like a long time ago. This year, like every year since the election in 2010, the budget was done in early June. Signed… Sealed… Delivered.  The budget this year includes more money for roads and education, it pays down more debt. It comes after Governor Snyder made a proposal early in the year. What followed were months of hearings, meetings, some arm wrestling, some negotiations, and compromise. Our local officials knew before their fiscal years started what to expect from state government. That is how it is supposed to work.  What also does not get much attention is that Michigan has paid down nearly $20 billion in debt and unfunded liabilities in the last six years. That is good news for our kids and grandkids. So as the national debt continues to climb, the state debt is headed in the right direction.  So last Saturday was a big day. Not just for budget geeks, but for you and all taxpayers, and for future generations. With all of the dysfunction in the news and social media, I thought you should know that common sense does prevail.  As always, if you have concerns or ideas about state government, call us at 888-656-0079 or by e-mail at alpscholka@house.mi.gov.

Get fit this fall

 Autumn is a transitional time of year: the leaves on the trees change, it becomes darker earlier, and the temperatures cool down. It is a favorite time of year for many people. However, these same changes can also lead to stress for individuals who tend to fall off the health and fitness wagon during the transition. There are many enjoyable opportunities to remain fit, or even begin a fitness program in the fall that can work for everyone. Planning for seasonal changes, finding support from group exercise and embracing events and activities that the season has to offer are key factors in staying fit through the transition. Get involved: With the fall season comes many holiday themed local fun runs and events. Autumn group events like pumpkin picking, corn mazes, haunted trails, and building leaf piles are active options that can also be fun bonding experiences for family and friends. Avoid holiday candy: According to the National Institutes of Health, on average, non-obese adults gain about a pound a year around the holidays. In addition to creating unhealthy habits, accumulation of this weight over time can lead to obesity. Be sure to pack lots of healthy snacks to munch on throughout the day to help deter you from grazing on sweets that pop up in the office, at home or at holiday parties. Turn fall chores into a workout: Raking leaves or gardening can burn around 150 calories every 30 minutes. Turn these chores into a game by setting small, achievable goals to help pass time and burn away fat.  For more information on this and other topics, visit www.bchdmi.org or “like” the Berrien County Health Department on Facebook at facebook.com/bchdmi.

Rowing across Lake Michigan for childhood cancer research

 We have made great strides in the fight against pediatric cancer, yet cancer remains the leading cause of death by disease for American children.  While roughly 150 kids worldwide are diagnosed with pediatric cancer each day, less than 4 percent of the National Cancer Institute’s budget is dedicated to childhood cancer research.  I sponsored Senate Resolution 211 declaring September as Childhood Cancer Awareness Month in Michigan to help increase knowledge about pediatric cancer, recommit to curing it and support the young people fighting this devastating disease.  Saving lives through research is also why Jacob Beckley decided to row 65 miles across Lake Michigan from St. Joseph to Chicago.  Last year, Beckley ascended the second largest mountain in the Sierra Nevada range — climbing 36 miles and raising almost $6,000 for pediatric cancer research. This year, Beckley built a handmade boat to cross Lake Michigan to raise funds.  Residents can support pediatric cancer research by donating to Beckley’s row at Row4aCure.com or giving locally to the Alex Mandarino Foundation at  theAlexMandarinoFoundation.org.  The foundation provides vital funding for pediatric cancer research and was founded in 2013 by Tony and Katie Mandarino of St. Joseph to honor their son Alex, who passed away from neuroblastoma at age five.  God bless the amazing strength of the families of the children who are fighting this illness or who have lost their battle. Their ability to turn their grief or emotional toil into positive action for other children with cancer is truly inspirational.  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.

Boosting infrastructure and funding for Flint

 The big news last week was that the House and Senate came to agreement on a critical piece of water infrastructure improvement legislation. On Wednesday, the House advanced the Water Resources Development Act (WRDA) by a bipartisan 399 to 5 vote. This bill previously passed the US Senate 95 to 3 and now heads to the president’s desk for signature.  Critically, the legislation authorizes $170 million to provide assistance for the city of Flint through an amendment offered by US Reps Dan Kildee, D-Flint, and John Moolenaar, R-Midland. I helped champion passage of this important amendment on the House Floor.  I have long been a champion for funding for Flint. In February of this year, the House passed legislation sponsored by Rep. Kildee and myself that would force the Environmental Protection Agency (EPA) to alert communities when lead levels are too high. I also visited Flint in August with Rep. Kildee and saw firsthand the work that needs to be done.  We all know what happened in Flint was a tragic failure at all levels. But the Flint community now deserves answers, action, and results. That is exactly what we were able to come together and deliver.  This bipartisan bill also helps our Great Lakes by reauthorizing the Great Lakes Restoration Initiative and ensures funds are made available from the Harbor Maintenance Trust Fund for operation and maintenance of navigation projects in the Great Lakes.  To learn more about this and other important legislative issues, please visit my website: upton.house.gov.