The Year-End Financial Fitness Presentation Outline The purpose of - - PDF document

The Year-End Financial Fitness Presentation Outline

The purpose of the Year-End Financial Fitness seminar is to share tips on how to how to make it to

the new year with money in your pocket.

This seminar will review key year-end planning strategies:

• 1. Budgeting strategies for holiday spending
• 2. Tips to prepare for financial uncertainty
• 3. Year-end tax planning tips

*The moderator will open questions to the audience after each section of the presentation.

Meet Our Speakers

Luis Jara, Congressional Federal Credit Union

Luis is a Consumer Lending Manager with over 18 years of experience in the credit union/banking industry. He specializes in consumer lending solutions and is committed in helping credit union members meet their lending needs and financial goals. Luis has been managing the Consumer Lending Department of Congressional Federal Credit Union for 2.5 years.

John Moran, Congressional Financial Network

John is a Wealth Advisor with the Congressional Financial Network and has over 35 years of experience in banking and financial services. He has a Bachelor’s degree in Finance and holds his Series 7, 63, 65, and Life and Health Insurance licenses. He works closely with his clients to fully understand their personal circumstances, their overall financial situations, objectives, risk tolerances, and liquidity needs. He is committed to helping individuals and families work towards achieving their individual and unique financial

• goals. John believes the key to pursuing long-term financial targets is preparing for the future now.

Joseph Musumeci, CPA, Rowles & Company, LLP

Joseph is a CPA and partner at Rowles & Company, LLP. He oversees the firm's tax services and provides auditing and accounting services. In addition to being a member of several industry associations, Joe serves on the State Tax Committee of the Maryland Association of Certified Public Accountants. He has also worked as an internal revenue agent learning firsthand the nuances of IRS examinations. #FourthWednesdaySeminarSeries From Capitol Hill, 6.3100 | 800.491.2328 | 703.934.8300 www.CongressionalFCU.org

Personal Events that could trigger a need for financial analysis:

Multiple events can affect your financial analysis, including:

• Birth
• Inheritance
• College entrance or graduation
• Annual gift giving
• Preschool starting or ending
• Loans being paid off
• Bonuses
• CDs, Bonds, and T-Bill maturing
• Pay raises
• Marriage/Divorce
• Promotions
• Retirement
• Termination from work
• Payouts from trusts
• Death
• Gifts received annually
• Private primary and secondary school expenses

Securities offered through Securities America Inc., Member FINRA/SIPC, Mikael Hallstrom, Registered Representatives. Advisory Services offered through USAdvisors Wealth Management, LLC., Mikael Hallstrom, Wealth Advisors. Congressional Federal Credit Union, USAdvisors Wealth Management, LLC and Securities America are unaffiliated. Investments are not FDIC or NCUA Insured – Not guaranteed by any financial institution – May Lose Value

Identifying Key Financial Interests

Use the table below to indicate those financial interests you have in light of the dreams you’ve defined. These will further identify where you want to go.

CURRENT FINANCIAL POSITION INVESTMENT PLANNING DEBT MANAGEMENT PROTECTION PLANNING I would like to build on my current financial position by: ◯ Balancing my assets and liabilities ◯ Understanding my cash flow ◯ Building cash reserves for unanticipated events ◯ Other I am investing for a specific purpose: ◯ Buying a house or second home ◯ Starting a business ◯ Building an investment portfolio ◯ Other I want to provide for my children: ◯ School/college ◯ UGMA/UTMA gifts I want to manage my existing capital by: ◯ Balancing my investments ◯ Enhance the return on my investments ◯ Reduce the impact of inflation ◯ Other I would like to reduce my costs by: ◯ Consolidating loans ◯ Evaluating mortgage options ◯ Considering leasing vs. buying ◯ Other I want to ensure I have the right amount and type of coverage for: ◯ Disability or illness ◯ Premature death ◯ Meeting my financial goals ◯ Planning for business continuation ◯ Protecting my personal assets (property) ◯ Understanding current coverage and Social Security ◯ Health and nursing care ◯ Other TAX PLANNING* RETIREMENT PLANNING HELPING LOVED ONES* FACTORS TO CONSIDER I would like assistance: ◯ Minimizing income taxes ◯ Minimizing capital gains taxes ◯ Using tax advantaged investments ◯ Analyzing alternative taxation strategies ◯ Analyzing business owners’ tax strategies ◯ Partnering with a CPA ◯ Other I would like to ensure my retirement plan will help me: ◯ Project the impact of earlier or later retirement ◯ Build an investment portfolio ◯ Pursue hobbies, interests, and travel ◯ Buy a retirement home I would like to better understand: ◯ IRAs/SEPs/401(k)s ◯ Non-Qualified Deferred Comp ◯ Personal investments ◯ Accessing the capital in my home I will need to manage future capital from: ◯ Pension lump sums ◯ Inheritances ◯ Business assets ◯ Income distribution strategies ◯ Other I would like help expanding my legacy through: ◯ Reducing inheritance taxes ◯ Lifetime giving ◯ Trusts ◯ Charitable giving ◯ Partnering with an attorney ◯ Planning for the smooth transfer of: ◯ Personal assets ◯ Business assets ◯ Other The following factors concern me most about my investments: ◯ Stability of capital and/or income ◯ Rate of return ◯ Diversification ◯ Accessibility ◯ Tax efficiency ◯ Growth potential (hedging inflation) ◯ Flexibility ◯ Freedom from care ◯ Professional review ◯ Stress testing my portfolio (bad timing, asset class sensitivity, etc.) ◯ Other

*Securities America and its representatives do not provide tax or legal advice .

INVESTMENT PLANNING

• Identifying Capital, Contribution and

Return Requirements to Meet Goals

• Building Cash Reserves
• Educating on Alternatives Pros/Cons
• Asset Allocation: Attempting to Reduce

Risk, Enhance Rate of Return by Balancing Assets

RISK MANAGEMENT PLANNING

• Helping Clients with Game Plan for:

1. Disability or Illness 2. Premature Death

• Reviewing Current Insurance

RETIREMENT PLANNING

• Dealing with Lump Sum Distributions
• Projecting Early or Late Retirement
• Income Generating Strategies
• Minimizing Tax Liabilities

ESTATE PLANNING

• Protecting Privacy
• Preserving Family Wealth
• Charitable Giving

Financial Institution Services

• CDs, Savings
• Home Equity Loans

INVESTMENT PRODUCTS

• Money Markets
• Treasury Bills, Notes and Bonds
• Stocks
• Bonds (Taxable and Tax Free)
• Mutual Funds
• REITS (Real Estate Investment Trusts)
• Limited Partnerships
• Annuities (Fixed and Variable)
• IRAs, SEPs
• TSAs
• 529 Plans

INSURANCE PRODUCTS

• Individual and Group Life (term,

fixed/variable, universal)

• Disability
• Group Health
• Long Term Care
• Key Person Insurance

BUSINESS PRODUCTS AND SERVICES

• Qualified Plans: 403(b), 401(k), Profit

Sharing

• Pension Planning
• Deferred Compensation Strategies

◆

Seminars

FINAN CI AL SOLUT ION S

Member Name(s): ____________________ ____________________ e Nmber: ____________________ es me a: _____ M _____ M

Non-Qualified Deferred Comp

Your Financial Fitness Guide

Top Tax Tips | To do list for becoming financial fit for the year-end

• Develop expectations for your tax future (no right or certain answers here, but important to be mindful):
• Do you expect your taxable income to go up or down in coming years?
• Do you expect our tax system to be more favorable or less favorable for you in coming years?
• Evaluate your income tax withholdings (federal and state):
• Were you over-withheld (refund of overpayment) or under-withheld (balance due) last year?
• Has your tax situation changed since last year?
• What is your goal for this year's returns (refund, balance due, or near zero)?
• Consider retirement plan contributions:
• Tax-deferred (401k, 403b, TSP) to lower current year's wage income
• After-tax (Roth) to allow for tax-free earnings
• Some decisions can wait until April 15, but others must be made before year-end
• If you expect to itemize deductions this year:
• Make cash charitable contributions
• Make non-cash charitable contributions
• Make your mortgage payment due January 1 before the end of December
• Make any estimated state income tax payments due January 15 before the end of December
• If you DON'T expect to itemize deductions this year but might itemize next year…wait to do any
• f those things until January.
• Use any flexible spending account funds that would be lost after year-end.
• Create folders (tangible and/or electronic) to store important financial info (especially tax docs)

#FourthWednesdaySeminarSeries From Capitol Hill, 6.3100 | 800.491.2328 | 703.934.8300 www.CongressionalFCU.org

Seminar Evaluation

Name Email Are you currently a Congressional Federal member? m Yes m No Would you like to see more seminars ofgered? m Yes m No The content of the seminar was: m Too Introductory m Just Right m Too Advanced How did you hear about the seminar? m Email m Social Media m CFCU Website m Newspaper What do you feel were the most valuable topics covered?

Consultation Request

Are you interested in a complimentary consultation to discuss financial planning options? m Yes m No If yes, please provide: Address City State Zip What is the best way to reach you? m Day Phone: m Evening Phone: m Email: Thank you for your cooperation and participation. We look forward to serving you better in the future. We welcome your additional comments on the back of this form. #FourthWednesdaySeminarSeries From Capitol Hill, 6.3100 | 800.491.2328 | 703.934.8300 www.CongressionalFCU.org