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Wednesday, August 31, 2022

The changes you make today might be the benefits you need long-term. Today, many people find themselves inundated by a constant stream of financial news from television, radio, and the Internet.

Wednesday, August 31, 2022

Remember, early planning puts time on your side.Whether retirement is around the corner or decades away, there are more options than ever to help you plan for it. Let’s look at Individual Retirement Accounts (IRAs) and 401(k)

Wednesday, August 31, 2022

You may already be aware of the importance of having enough life insurance coverage to handle financial matters that could affect your family in the event of your death. However, determining the appropriate amount of coverage for your...

Wednesday, August 31, 2022

As a business owner, you may assume you do not need professional financial advice until you hit certain milestones such as $1 million in sales, having ten employees, or some other tangible measure. However, financial professionals may...

Tuesday, August 2, 2022

One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion

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Tuesday, August 2, 2022

In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride...

Tuesday, August 2, 2022

With approximately 94% of American workers covered by Social Security and 65 million people currently receiving benefits, keeping Social Security healthy is a major concern.1 Social Security isn't in danger of going broke

Tuesday, August 2, 2022

When it comes to saving for retirement, the options can seem endless. From 401(k) plans to IRAs, to Roth IRAs, health savings accounts, even life insurance policies, there are a variety of financial vehicles that allow you to set aside...

Thursday, June 30, 2022

Financial independence means different things to different people. For some, it might mean early retirement. For others, the ability to travel the world. It is the freedom to leave a job that is no longer personally or professionally...

Thursday, June 30, 2022

A regular program of disciplined financial practices can help you in the long-run. Many people realize that the best way to stay in shape is to develop an appropriate fitness regimen and then stick with it.

Thursday, June 30, 2022

When it comes to investing, having fewer investments might help streamline your portfolio to manage stress better. Here are some benefits of a simple portfolio and some ways to help you create one.

Thursday, June 30, 2022

The sandwich generation is a term commonly used to describe those between the ages of 40 and 59 who are responsible for raising their family and are also often helping their aging parents manage their ongoing needs.

Friday, May 27, 2022

In March 2022, the Consumer Price Index for All Urban Consumers (CPI-U), the most common measure of inflation, rose at an annual rate of 8.5%, the highest level since December 1981.1 It's not surprising that a Gallup poll at the end of...

Friday, May 27, 2022

Your retirement planning needs to incorporate more than just investments.Your open heart and your relatives can combine to threaten your retirement savings – savings you soon may need. Learn the true cost to your future

Friday, May 27, 2022

Although many things have changed in the financial world over the past 20 years, some nuggets of financial advice are timeless. Here are a few tips that have remained constant for several generations.

Friday, May 27, 2022

A life insurance policy is part of financial planning. Life insurance is there to help ease the financial trauma that comes with the loss of a spouse, parent, or partner. As you encounter different events in your life, you may need to...

Tuesday, April 26, 2022

Investing is stressful. It takes sound mental decisions to weather the ups and downs that come with the markets and investing in general. Whether you are managing your financial portfolio or making investments on the side, staying

Tuesday, April 26, 2022

Market volatility could spook even the most seasoned investor. If a precipitous week or two in the market has you ready to sell, you may want to reconsider your risk tolerance and asset allocation.

Tuesday, April 26, 2022

You may be retired and considering investing some of your retirement nest egg. Depending on your situation, it is crucial that investing in the stock market, bond market, or other investments does not jeopardize your retirement savings

Tuesday, April 26, 2022

According to the College Board, the most recently published figures of the average annual cost of tuition and fees at a public university for a school year was $9,970 for in-state students and $25,620 for out-of-state students.

Thursday, April 21, 2022

Myth: Social Security will provide most of the income you need in retirement. Fact: It's likely that Social Security will provide a smaller portion of retirement income than you expect.

Tuesday, March 29, 2022

Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2021. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2021.

Tuesday, March 29, 2022

What does an entrepreneur need to create a dynamic company? The right mindset is a big part of it. As an entrepreneur, you devote half your time or more to the daily hustle, making things happen and accomplishing goals.

Tuesday, March 29, 2022

Making sure your investments help you work towards your true life goals Too often during uncertain times, we inadvertently compare ourselves to the people around us – and that may lead us to make financial mistakes.

Tuesday, March 29, 2022

After a busy life on the farm, you may be looking at the next steps and addressing how you plan to pass on the property, land, and assets that you worked so hard throughout your life for. While many people may feel they do not need an...

Tuesday, March 1, 2022

Working in medicine may be challenging, especially with the strain placed on health care professionals throughout the COVID-19 pandemic.

Tuesday, March 1, 2022

With healthcare costs continuing to rise, there are ways to help lower the cost of healthcare for yourself by becoming a wise consumer of healthcare.

Tuesday, March 1, 2022

As Samuel Goldwyn once said, "The harder I work…the luckier I get!" 1 But when it comes to investing, luck may play a huge role in outcomes—no matter how hard you work.2 

Tuesday, March 1, 2022

Thursday, February 3, 2022

The calendar had barely flipped to 2022 and investors were reminded that even attractive long-term stock returns come with a cost: volatility.

Thursday, January 27, 2022

For some investors, it might be tempting to tap into your 401(k) to help pay down debts, purchase a home or take a once-in-a-lifetime vacation. However, doing so may seriously cost you, both now and in the future.

Thursday, January 27, 2022

Whether you're single, paired, or somewhere in between, Valentine's Day may present the perfect opportunity to show your bank account some love.

Thursday, January 27, 2022

Though the dental profession can be a lucrative one, many dentists don't have the traditional 401(k) option.

Thursday, January 27, 2022

Monday, February 28th, kicks off America Saves Week this year. The week is dedicated to bringing awareness and encouraging people to look at and make progress on their savings.

Tuesday, January 25, 2022

We think the most important thing to remember is that periodic stock market volatility is entirely normal. Historically, the S&P 500 Index has averaged three pullbacks of 5% or more per year and...

Friday, January 21, 2022

Saturday, January 15, 2022

Sunday, January 9, 2022

Friday, January 7, 2022

With the New Year comes new beginnings, new goals, new challenges, new friendships, and new opportunities. 2021 was an incredible year for the economy and investors, but to us the future remains bright for 2022 and beyond. Let’s...

Wednesday, December 29, 2021

Getting ready for retirement is both exciting and daunting. While you are likely looking forward to the enjoyment and relaxation that retirement may bring, you are also cautious about ensuring you have enough money to be able to retire...

Thursday, December 16, 2021

Preparing your home for a winter storm can be a hassle, especially when done last minute, so make sure to plan ahead and take these necessary precautions this winter season. Double check for supplies You may think you have shovels,...

Friday, December 10, 2021

Is that investment an innovation or an improvement on an existing product? As Christmas sales loom, we face an endless array of sparkly, shiny and occasionally innovative items. As an investor, you run into a similar phenomenon that...

Friday, December 3, 2021

With the holidays here, now is the time to get into the giving spirit and help to change others' lives for the better. Whether you are looking to make a difference in a specific person's life or the life of many, there are many ways to...

Tuesday, November 30, 2021

A well-crafted business plan can be a blueprint for entrepreneurial confidence. This multifaceted tool is as important to established business owners looking to grow their companies as it is to budding entrepreneurs. A business plan...

Thursday, November 25, 2021

Giving Tuesday is a day to extend the goodwill that the holiday season may bring to help others. With so many in need, the holiday season is a reminder to help those less fortunate. Whether you want to donate your time or contribute...

Thursday, November 18, 2021

American Express created Small Business Saturday in 2010 to provide small businesses with a holiday season boost on the heels of Black Friday. The day comes after one of the biggest shopping sales events and serves as a reminder to...

Monday, November 15, 2021

We are happy to announce that Scheffel Financial Services, Inc. is celebrating 20 years in the financial services community! We knew from the start that we had something special in providing independent, unbiased advice and wealth...

Wednesday, November 10, 2021

Overview For many affluent individuals, occasional gifts to a favorite charity may satisfy their charitable inclinations. The added incentive of an often substantial tax deduction, coupled with various estate planning benefits, is...

Thursday, November 4, 2021

The past year and a half have tested all of us, but overall, the economy continues to strengthen, COVID-19 trends are greatly improving, and this still relatively young bull market is alive and well. As the leaves turn colors and begin...

Friday, October 29, 2021

Today, many people find themselves bombarded by a constant stream of financial news from television, radio, and the Internet. Yet, does all this “information age” data really help you manage your finances any better now...

Sunday, October 24, 2021

More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet,...

Thursday, October 14, 2021

A well-structured estate plan can be invaluable to you and your family: It is common for people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that...

Sunday, October 10, 2021

Small businesses face many problems related to their size, capital, and capability, and for women-owned small businesses, the challenge is sometimes even greater. The good news is there are many professional organizations out there...

Friday, October 8, 2021

One constant in life is change. During the past year and a half, we have experienced more change than any of us bargained for. Change is disruptive—but also brings opportunities. For investors right now, there is no shortage of...

Sunday, October 3, 2021

In 2013, a Gallup poll found that only about one in every three U.S. households maintained a budget.1 A 2021 survey of 1,000 Americans found that 80% now say they have a budget.2 Americans are budgeting more due to the pandemic....

Tuesday, September 28, 2021

THOUGHTS ON ESTABLISHING A TRUST AND TIPS FOR AVOIDING INHERITANCE SQUABBLES REASONS TO CONSIDER A TRUST Should you set up a trust? Maybe you've been to a seminar where they scare the life out of you, convincing you to start one....

Sunday, September 26, 2021

There are nearly three-quarters of a million franchise businesses in the U.S, employing more than 8 million workers.1 Though franchises may take away much of the hassle and up-front cost of starting a business, essentially providing a...

Sunday, September 19, 2021

September 22nd is American Business Women's Day, and it may be the perfect day to celebrate women who have surpassed the glass ceiling and gone on to be leaders and inspirations for businesswomen everywhere. In honor of American...

Monday, September 13, 2021

Nine of every 10 U.S. families with children have at least one working parent.1 Though working parents make up one of the largest demographic groups in the country, they face many challenges—from the cost of childcare to...

Thursday, September 9, 2021

The bull market continues, with the S&P 500 Index now up seven months in a row. Stocks have impressively gained 20% year-to-date, with the S&P 500 making 53 new all-time highs before the end of August—another new record. All of...

Wednesday, September 1, 2021

Charitable giving is a term often heard around the holidays, or in some cases, around tax season. Nonprofit charitable organizations often rely on contributions from businesses and individuals to help them accomplish their goals and...

Sunday, August 29, 2021

Suppose, during the middle of the workday, you receive an urgent phone call. It is the local hospital informing you that your elderly, widowed father has been the victim of a serious car accident and lies unconscious in the emergency...

Thursday, August 19, 2021

It is estimated that about 40 percent of business founders were friends before they became business partners.[1] But while starting a business with a friend can be a great way to secure your financial future, it can also put new and...

Monday, August 9, 2021

As of 2017, about two-thirds of all nonprofit organizations in the U.S. had annual budgets of less than $1 million.[1] For these non-profit organizations where every penny has a purpose, having the services of a financial professional...

Friday, August 6, 2021

Six months and counting. That is the current monthly winning streak for the S&P 500 Index. To take that a step further, this key equity benchmark has posted gains in 13 of the last 16 months—dating back to the March 2020 low....

Friday, August 6, 2021

After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.(1) The interest rates on federal student loans are reset each year after the May...

Tuesday, August 3, 2021

There’s a simple word that has profound implications for savings and investing: compounding. Like a snowball that grows as it rolls down a hill, compounding provides the potential for your money to grow, reinvesting your...

Monday, July 26, 2021

For many people, turning 65 provides one of the keys to retirement: access to affordable healthcare. Whether you're enrolling in the Medicare program for the first time or have been a Medicare enrollee for years, it's important to stay...

Thursday, July 15, 2021

The COVID-19 pandemic has changed the way that Americans shop and travel, impacting our spending habits indefinitely. With stores, hotels, and restaurants trying to recover, many are choosing to purchase locally to help to support...

Monday, July 12, 2021

As a physician, you've devoted a lot of time to educating yourself, building a career, and providing top notch care that enriches your patients lives, and in the midst of all that, it can be easy to overlook your finances. To ensure...

Tuesday, June 29, 2021

Why do so many of us not use our vacation days? Salespeople talk about “leaving money on the table.” Well, employees leave vacation on the table. And the cost to us is significant. In fact, Americans leave 429 million...

Friday, June 25, 2021

There’s a subjective uncertainty associated with financial wellness. Are you financially fit? And if so, how fit are you? While there is no clearly defined threshold for answering affirmatively, much less grading your level of...

Monday, June 14, 2021

Dentists and their staff often spend their time processing insurance payments and explaining to their patients the benefits of the patient's own dental insurance. But what about the insurance products dentists need to protect...

Tuesday, June 8, 2021

As we move into June, a path to normalcy is coming quickly with stadiums allowing full capacity, restaurants filling up, and summer vacations in full swing. Meanwhile, the U.S. economy continues to recover remarkably quickly and the...

Friday, June 4, 2021

For many Americans, the home is the single biggest purchase made during their lifetime.[1] As a result, it's important to do everything possible to keep it in good condition. Even moderate or short-term neglect can be dangerous, as...

Tuesday, June 1, 2021

Many women have been a caregiver while raising children. Still, now many are caring for a loved one out of necessity as the older family member can no longer care for themselves. The Transamerica Center for Retirement Studies report,...

Sunday, May 23, 2021

If you own a business, you may have spent years dreaming of passing along the business to your children, nieces and nephews, or other family members after you retire. However, transferring a family business—and its ability to...

Monday, May 17, 2021

Retirement is inevitable, but knowing exactly when to do so is often unclear. No matter when you actually begin your retirement, you’ll benefit from planning your post-work life as early as possible. According to Gallup, the...

Monday, May 10, 2021

As the calendar has turned to May, the popular “Sell in May and Go Away” stock market cliché is getting a lot of airtime. This is the idea that the stock market tends to be weakest between May and October (and...

Monday, May 10, 2021

If you're a small business owner, many of the best practices employed by individual investors are also available to you (of course!), but you also have some additional options and factors to weigh while creating your investment plans....

Wednesday, May 5, 2021

Setting healthy financial goals is critical. Even more important is staying committed to those financial goals. Keeping yourself committed to your goals may be difficult, especially when times may be financially tough. But by staying...

Friday, April 16, 2021

Whether you've been wondering about boosting your investments' rates of return or are concerned that your financial affairs are a bit too complicated for your next of kin to handle, it may be time to seek advice from a financial...

Monday, April 12, 2021

When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even...

Monday, April 5, 2021

“The real key to making money in stocks is not to get scared out of them.” Peter Lynch They say April showers bring May flowers. Well, after a lot of showers and storms over the past year, flowers are starting to bloom and...

Thursday, April 1, 2021

Your financial professional can help you navigate the ever-changing IRS rulesTaxpayers of all ages may be able to claim a deduction on their 2020 tax return for contributions made to their Individual Retirement Account made through...

Thursday, April 1, 2021

As your retirement draws closer, you will probably start to have lots of questions such as: How much Social Security will I receive? When should I retire? How will I know when to retire? Do I have enough saved? What will I need to do...

Wednesday, March 24, 2021

Retirement planning is a complex process requiring as much support and time as possible to reach the desired end. Retirement planning at all ages is important – the more time put into the process, the less investment is necessary...

Friday, March 19, 2021

Watch the 10-year and oil because inflation eats away at retirement income The current job market landscape is a warning sign of how painful the U.S. economy is for many, as over 745,000 Americans filed for first time-unemployment...

Monday, March 15, 2021

Being a nurse comes with a lot of responsibility alongside a sense of pride in knowing that you are helping others. But while the road to becoming a nurse already involves a fair bit of course work, there unfortunately isn’t much...

Friday, March 5, 2021

For many women, working toward financial independence is more difficult. Obstacles women face include having a longer life expectancy than men which will require more savings for retirement, spending fewer years in the workforce than...

Friday, March 5, 2021

Whether you're a dentist about to start your own dental practice or you’re considering joining up with another dentist (or practice), you might be wondering about the most financially prudent path forward. After all, launching a...

Thursday, March 4, 2021

It’s now been over a year since COVID-19 first hit American shores. While the pandemic has affected everyone to varying degrees, we can all agree that everyone’s life is different today than it was a year ago. It’s...

Friday, February 26, 2021

Being a doctor comes with a lot of stressors, but planning for taxes should not be one of them. As a doctor, you have been through years of hard work and may be looking for ways to help limit your tax liability and preserve as much of...

Friday, January 29, 2021

Most people who decide to purchase stocks, bonds, mutual funds, or other investment vehicles do so understanding that there are risks associated with investing, but believing that the potential growth they may realize over time...