Our New Financial Planner: Bob Ingram

Contributed by: Nick Defenthaler, CFP® Nick Defenthaler

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The Center recently welcomed a new team member: Bob Ingram.  With nearly 15 years of experience in the profession, Bob is thrilled to join a team where he can collaborate with other professionals to further enhance his role as a financial planner. 

Prior to joining The Center, Bob helped clients achieve their financial goals at a large, national investment and financial planning firm. 

In addition to meeting with clients, Bob will be an active member within The Center’s Financial Planning Department.  If Bob looks familiar, it might be because you’ve seen him speak on various personal finance and investment related topics as the “Money Man” for Detroit’s WXYZ Channel 7. 

Bob is not only excited to join our team, but happy to be on yours as well.  Next time you’re in the office, stop by and say hi to our growing team!

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc.® Nick works closely with Center clients and is also the Director of The Center’s Financial Planning Department. He is also a frequent contributor to the firm’s blogs and educational webinars.

Required Minimum Distribution Update

Contributed by: Timothy Wyman, CFP®, JD Tim Wyman

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As tough as it is to admit, sometimes after practicing for 26 years I take things for granted. I should know better!  One such instance was working with one of the firm’s long term clients facing their first Required Minimum Distribution (“RMD”) from her IRA. As our client shared, “Since neither of us have experienced this life experience before, we know nothing about it.”  The good news is that The Center has been helping clients satisfy their RMD requirement and integrating it into their financial planning for years. What I forgot was that what may appear a routine exercise for us as professionals may not be for folks experiencing a RMD for the first time.

Center partner Laurie Renchik, CFP®, provides a quick outline of the rules in the following blog post: http://www.centerfinplan.com/money-centered/2013/2/7/the-magic-age-of-70-and-your-required-minimum-distributions.html?rq=rmd

While the rules may be considered somewhat straight forward – as usual there are many nuances. More importantly, sometimes the issue is simply how one actually takes the money.

Need the money for living expenses? We can transfer to your bank account or send a check. This can be done monthly, quarterly, or even as a lump sum during the year.

Don’t need the money? We can transfer the after tax amount to a taxable investment account and reinvest for future use. Remember, the tax man wants to get paid (via income tax withholding) before the transfer.

For example, Mary’s RMD amount is $20,000 and she is in the 25% marginal income tax bracket for federal income tax purposes.  We would request a gross distribution of $20,000 and send the IRS $5,000 for income tax withholding and the $15,000 balance could be reinvested in Mary’s taxable investment account.  I should note, the State of Michigan in Mary’s case wants their share and therefore we would withhold another 4.25% in most cases.

Additionally, while not necessarily a RMD rule, those over 70.5 and subject to a RMD may also consider how a Qualified Charitable Distribution (“QCD”) might be beneficial.  My colleague Nick Defenthaler provides a great recap here:

 http://www.centerfinplan.com/money-centered/2017/9/8/qualified-charitable-distributions-giving-money-while-saving-it-1?rq=rmd

The ease of giving and potential income tax benefits makes this an attractive option for many.    While not a substitute for professional assistance, please find a summary of the major provisions for your consideration:

Donor Benefits of the QCD include:

  • Convenience: An easy and simple way to support your favorite cause

  • Lowers Taxable Income:  The donor does not have to include the qualified charitable distribution as taxable income – whether the donor uses the standard deduction or itemizes deductions.

  • Ability to make larger deductible gifts:  A donor is not restricted to 50% of adjusted gross income by using an IRA for charitable gifts.  Therefore, a donor may make larger charitable gifts.

  • Income tax savings:  The donor may save substantial income taxes not otherwise available due to deduction floors and phase-outs at higher income levels.   

You have worked to save money for the future and tax deferral via IRA’s for most has been an important component. At age 70.5 IRS regulations dictate that a minimum amount must be withdrawn whether you actually need the money for living expenses. The Center is here to assist you in your RMD planning and to ensure that they are integrated into your overall retirement planning.

Timothy Wyman, CFP®, JD is the Managing Partner and Financial Planner at Center for Financial Planning, Inc.® and is a contributor to national media and publications such as Forbes and The Wall Street Journal and has appeared on Good Morning America Weekend Edition and WDIV Channel 4. A leader in his profession, Tim served on the National Board of Directors for the 28,000 member Financial Planning Association™ (FPA®), mentored many CFP® practitioners and is a frequent speaker to organizations and businesses on various financial planning topics.


Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person's situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

Webinar in Review: 2018 Medicare Open Enrollment

Contributed by: Kali Hassinger, CFP® Kali Hassinger

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Medicare Open Enrollment began on October 15th and lasts until December 7th, which is why The Center was excited to be joined by two Medicare professionals, Michelle Zettergren and Jim Edge, from Health Plan One (HP One) during our recent Webinar.  Michelle and Jim provide a crash course on Medicare and explain how HP One’s partnership with Raymond James can assist our clients during the Open Enrollment period.  Whether you’re new to Medicare or thinking about changing your current coverage, HP One can work with you to determine which Medicare options will best fit your needs.

We have covered Medicare Open Enrollment and basics in the past, but the supplement options and landscapes are ever changing, which makes it important to review your coverage before you’re locked in for another year.  HP One works with Raymond James & Center for Financial Planning clients to make the Medicare process as easy and straightforward as possible with no cost to the client.

You can contact HP One at their dedicated Raymond James line by calling 844-269-2646 between the hours of 8:30 AM and 8:00 PM (EST).  If you prefer to do some research and review options online, you can visit their website at http://hporetirees.com/raymondjames

You can also review some Medicare basics on our website at: http://www.centerfinplan.com/medicare-faq

Here’s the recorded webinar in case you missed it!

https://youtu.be/taxlFqWXuLA

Kali Hassinger, CFP® is an Associate Financial Planner at Center for Financial Planning, Inc.®

Three New Faces on the Client Service Team

Contributed by: Lauren Adams, CFA®, MBA Lauren Adams

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It’s been one year since I last introduced new members of the client service team, and exciting things continue to happen within this department at The Center. We’ve added another three members to the team in the last few months. It’s my privilege to introduce them to you here, and I hope you’ll join me in giving them a very warm welcome to The Center Family!

Abigail Fischer joined us after recently graduating with a degree in Economics from Whitworth University in Spokane, Washington. She caught the financial planning bug from a young age and was heavily involved with financial education projects on campus. Most notably, she co-founded a counseling and financial workshop program—that was available to 2,000 students—with the goal of helping her peers build a foundation for a lifetime of financial well-being. She recently moved to Michigan to be closer to family, and we were lucky enough to snag her for a client service position this July. In addition to client service work, Abigail also helps manage The Center’s social media presence, and she loves to hear from clients and friends of The Center regarding blog topic ideas (or even just a Facebook Like or Share!).

Andrew O’Laughlin also came onboard at the end of July and joined our team after several years of experience at another advisory firm—experience he’s already putting to excellent use in his first few months as a client service team member. In addition, he earned his undergraduate degree from the University of Vermont and has completed a Masters of Business Administration at Wayne State University. If that wasn’t impressive enough, he has also obtained licenses in insurance and securities, and plans to continue to pursue more in the future (all with two little ones at home, by the way). He’s a great example of The Center’s “Continuous Learning and Personal Growth” Core Value, among others.

Joining us at the end of September, Sarah McDonell is our most recent addition to The Center’s client service team. Sarah graduated from University of Michigan with a degree in English Literature. Sarah also joined us from another financial advisory team and was attracted by The Center’s commitment to excellent client service, continual education, and strong work ethic. Speaking of which, she hopes to begin studying for the Series 7 license in the near future. Sarah also enjoys marketing and social media, as well as striving to WOW clients on a daily basis—a mindset we, of course, love.

Please join me in welcoming Abigail, Andrew, and Sarah to The Center Family! We’re so thrilled to have them onboard, and they can’t wait to meet all of our clients and friends soon.

Lauren Adams, CFA®, MBA is Director of Client Services at Center for Financial Planning, Inc.®

Raymond James Women’s Symposium Recap

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It is no surprise that women represent more than 50% of American population.  What may surprise you is the number of female financial advisors in the US:  less than 16%.  The goal of the 23rd Annual Raymond James Women’s Symposium was to connect female financial advisors with each other, to share successes, learn from each other, and inspire women who are considering a career as a financial planner.   From our office: Melissa Joy, CFP®, Laurie Renchik, CFP®, Kali Hassinger, CFP® and Jeanette LoPiccolo, CRPC® attended the 3 day conference in Tampa, FL.  

The Symposium presented a number of great speakers who shared their stories and discussed how the critical decisions in their lives paved the way to their later successes.  The Center’s own Melissa Joy, CFP®, lead an inspiring conversation with Dr. Lissa Young, Associate Professor, West Point on the subject of “Being your Authentic Self”.  Dr. Young reminded the audience to embrace and encourage each other to be their genuine selves.

Jeanette LoPiccolo, CRPC® is a Client Service Manager at Center for Financial Planning, Inc.®


Dr. Lissa Young is not affiliated with Raymond James.

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Investing vs. Paying Off Debt

Contributed by: Matt Trujillo, CFP® Matt Trujillo

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You can use a variety of strategies to pay off debt, many of which can cut not only the amount of time it will take to pay off the debt but also the total interest paid. But like many people, you may be torn between paying off debt and the need to save for retirement. Both are important; both can provide a more secure future. If you're not sure you can afford to tackle both at the same time, which should you choose?

There's no one answer that's right for everyone, but here are some of the factors you should consider when making your decision.

Rate of investment return versus interest rate on debt

Probably the most common way to decide whether to pay off debt or to make investments is to consider whether you could earn a higher after-tax rate of return by investing than the after-tax interest rate you pay on the debt. For example, say you have a credit card with a $10,000 balance on which you pay nondeductible interest of 18%. By getting rid of those interest payments, you're effectively getting an 18% return on your money. That means your money would generally need to earn an after-tax return greater than 18% to make investing a smarter choice than paying off debt. That's a pretty tough challenge even for professional investors.

And bear in mind that investment returns are anything but guaranteed. In general, the higher the rate of return, the greater the risk. If you make investments rather than pay off debt and your investments incur losses, you may still have debts to pay, but you won't have had the benefit of any gains. By contrast, the return that comes from eliminating high-interest-rate debt is a sure thing.

An employer's match may change the equation

If your employer matches a portion of your workplace retirement account contributions, that can make the debt versus savings decision more difficult. Let's say your company matches 50% of your contributions up to 6% of your salary. That means that you're earning a 50% return on that portion of your retirement account contributions.

If surpassing an 18% return from paying off debt is a challenge, getting a 50% return on your money simply through investing is even tougher. The old saying about a bird in the hand being worth two in the bush applies here. Assuming you conform to your plan's requirements and your company meets its plan obligations, you know in advance what your return from the match will be; very few investments can offer the same degree of certainty. That's why many financial experts argue that saving at least enough to get any employer match for your contributions may make more sense than focusing on debt.

And don't forget the tax benefits of contributions to a workplace savings plan. By contributing pretax dollars to your plan account, you're deferring anywhere from 10% to 39.6% in taxes, depending on your federal tax rate. You're able to put money that would ordinarily go toward taxes to work immediately.

Your choice doesn't have to be all or nothing

The decision about whether to save for retirement or pay off debt can sometimes be affected by the type of debt you have. For example, if you itemize deductions, the interest you pay on a mortgage is generally deductible on your federal tax return. Let's say you're paying 6% on your mortgage and 18% on your credit card debt, and your employer matches 50% of your retirement account contributions. You might consider directing some of your available resources to paying off the credit card debt and some toward

your retirement account in order to get the full company match, and continuing to pay the tax-deductible mortgage interest.

There's another good reason to explore ways to address both goals. Time is your best ally when saving for retirement. If you say to yourself, "I'll wait to start saving until my debts are completely paid off," you run the risk that you'll never get to that point, because your good intentions about paying off your debt may falter at some point. Putting off saving also reduces the number of years you have left to save for retirement.

It might also be easier to address both goals if you can cut your interest payments by refinancing that debt. For example, you might be able to consolidate multiple credit card payments by rolling them over to a new credit card or a debt consolidation loan that has a lower interest rate.

Bear in mind that even if you decide to focus on retirement savings, you should make sure that you're able to make at least the monthly minimum payments owed on your debt. Failure to make those minimum payments can result in penalties and increased interest rates; those will only make your debt situation worse.

Other considerations

When deciding whether to pay down debt or to save for retirement, make sure you take into account the following factors:

  • Having retirement plan contributions automatically deducted from your paycheck eliminates the temptation to spend that money on things that might make your debt dilemma even worse. If you decide to prioritize paying down debt, make sure you put in place a mechanism that automatically directs money toward the debt--for example, having money deducted automatically from your checking account--so you won't be tempted to skip or reduce payments.

  • Do you have an emergency fund or other resources that you can tap in case you lose your job or have a medical emergency? Remember that if your workplace savings plan allows loans, contributing to the plan not only means you're helping to provide for a more secure retirement but also building savings that could potentially be used as a last resort in an emergency. Some employer-sponsored retirement plans also allow hardship withdrawals in certain situations--for example, payments necessary to prevent an eviction from or foreclosure of your principal residence--if you have no other resources to tap. (However, remember that the amount of any hardship withdrawal becomes taxable income, and if you aren't at least age 59½, you also may owe a 10% premature distribution tax on that money.)

  • If you do need to borrow from your plan, make sure you compare the cost of using that money with other financing options, such as loans from banks, credit unions, friends, or family. Although interest rates on plan loans may be favorable, the amount you can borrow is limited, and you generally must repay the loan within five years. In addition, some plans require you to repay the loan immediately if you leave your job. Your retirement earnings will also suffer as a result of removing funds from a tax-deferred investment.

  • If you focus on retirement savings rather than paying down debt, make sure you're invested so that your return has a chance of exceeding the interest you owe on that debt. While your investments should be appropriate for your risk tolerance, if you invest too conservatively, the rate of return may not be high enough to offset the interest rate you'll continue to pay.

Regardless of your choice, perhaps the most important decision you can make is to take action and get started now. The sooner you decide on a plan for both your debt and your need for retirement savings, the sooner you'll start to make progress toward achieving both goals.

Matthew Trujillo, CFP®, is a Certified Financial Planner™ at Center for Financial Planning, Inc.® Matt currently assists Center planners and clients, and is a contributor to Money Centered.


You should discuss any tax or legal matters with the appropriate professional.

This Just In: Cost of Living Adjustment

Contributed by: Nick Defenthaler, CFP® Nick Defenthaler

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In recent weeks, it was announced that monthly Social Security benefits for more than 66 million Americans will be increasing by 2% starting in January 2018.  Who doesn’t love a pay raise, right?  This cost of living adjustment (COLA for short) is the largest we’ve seen since 2012.  To put the 2% increase in perspective, 2017 benefits crept up by a measly 0.3% and 2016 offered no benefit increase at all. 

Unfortunately, as many can attest to who are still in the work force, your “raise” may be partially or fully wiped away due to the increase in cost for medical insurance through Medicare – enter the "hold harmless" provision.  Medicare premiums for 2018 will be announced later this year. 

If you’re like many, this will probably cause some frustration knowing your increase could very well be going right back out the door in the form of medical premiums.  However, it’s important to remember that Social Security is one of the only forms of guaranteed fixed income that will rise over the course of retirement.  For those lucky enough to still have access to a pension, it’s extremely rare to have a benefit that carries a COLA provision. 

While Social Security checks will be higher in 2018, so will the earnings wage base you pay into if you’re still working.  In 2017, the first $127,000 was subject to Social Security payroll tax (6.2% for employees and 6.2% for employers).  Moving into 2018, the new wage base grows to $128,700 a 1.3% increase.  This translates into an additional $105 in tax each year for those earning north of $128,700. 

Social Security plays a vital role for almost everyone’s financial game plan.  If you have questions about next year’s COLA or anything else related to your Social Security benefit, don’t hesitate to reach out to us.

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc.® Nick works closely with Center clients and is also the Director of The Center’s Financial Planning Department. He is also a frequent contributor to the firm’s blogs and educational webinars.


This information has been obtained from sources deemed to be reliable but its accuracy and completeness cannot be guaranteed. Opinions expressed are those of Nicholas Defenthaler and are not necessarily those of Raymond James.

A New Season: Empty-Nesters

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This year the fall season took a different turn than the past eighteen and it wasn’t associated with the weather.  My youngest child was college bound for his freshman year.  How did that happen?  It was a mad rush from high school graduation festivities in June to college move in day in August.  The reality of an empty nest began to set in as my husband and I drove home leaving our son to settle into his new digs.  Our conversation took many expected turns reminiscing about the past and looking forward to the future.  

This new chapter we surmised was as an opportunity to put some additional focus on our life goals including a “catch-up” sprint to shore up retirement savings. More questions than answers surfaced.  Should we downsize, take a big trip, save more, spend more, double up on mortgage payments, or put a finer point on our expectations for the future?  Perhaps you can relate to this milestone in life. 

The following Empty Nest Checklist can help to organize thoughts and prioritize action steps:

  1. Revisit the big picture.  Make time to talk about lifestyle changes you’re thinking about, along with their financial impact. Think of it like a test drive for your retirement years. While you are at it, give your financial plan a fresh look. Celebrate successes, clarify goals and identify potential gaps.

  2. Consider your finances.  Updating your monthly budget is a good first step.  Putting money you were using to support children toward larger financial goals like paying down your mortgage and boosting retirement savings may be an option with surprising benefits.

  3. Review investments.  The status quo may not meet your future needs.  Your financial advisor can help with a review of retirement savings accounts.  Learning how your savings can generate income in retirement helps financial decision making during this new chapter. 

  4. Update your goals and need for insurance.  The bottom line is to make sure that existing insurance policies still make sense for your situation.  If your mortgage is paid off and dependents are now independent you may want to reassess your coverage.

Goals change at every stage of life, so regularly reviewing your plans is an important step. Revisiting the basics can build confidence as you plan for tomorrow. Reconciling your next steps as empty nesters is essential to enjoying all that is to come. Don’t forget to celebrate each milestone you’ve achieved along the way and put in place a plan for what comes next.

Laurie Renchik, CFP®, MBA is a Partner and Senior Financial Planner at Center for Financial Planning, Inc.® In addition to working with women who are in the midst of a transition (career change, receiving an inheritance, losing a life partner, divorce or remarriage), Laurie works with clients who are planning for retirement. Laurie is a member of the Leadership Oakland Alumni Association and is a frequent contributor to Money Centered.

BrainStorm: A Workout for the Mind

Contributed by: Sandra Adams, CFP® Sandy Adams

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According to the Alzheimer’s Association, mental decline as we age appears to be largely due to altered connections among brain cells.  But research has found that keeping the brain active seems to increase its vitality and may build its reserves of brains cells and connections – maybe even enough to generate new brain cells!  You don’t have to turn your life upside down or make extreme changes to see the results.  Just ask the folks at Wayne State University’s Institute of Gerontology who recently presented their Brainstorm! Program for nearly 100 Center clients and guests! 

Brainstorm! is a research-based wellness program developed by the Institute that addresses multiple facets of brain health, as well as physical, emotional and spiritual health.  The presentations were filled with hands-on activities, humor, and social interaction designed to target key cognitive skills. 

Four Key Tips from BrainStorm:

  1. No Strain, No Train. Activities must be challenging if you want the brain to grow new cells and make new connections. Concentrate, focus and pay attention. If crossword puzzles are easy for you, try math problems or vice versa. Force your brain to stay awake with daily surprises like brushing your teeth or eating dinner with your non-dominant hand or placing framed photos upside down. The brain responds to novelty, but will get lazy and fall into ruts if you let it.

  2. Gather with Others. Socializing is a major brain stimulant. We talk, listen, interpret social cues and sometimes share an activity - all at the same time -- quite a positive brain challenge! Regular social activity also deepens friendships, calms anxiety and lifts our mood. Depression and loneliness take a tough toll on memory, so open your door (and heart) to others for a healthier, happier brain.

  3. Sleep Deep. At least four consecutive hours of deep sleep a night lets us organize the thousands of thoughts and experiences we have every day. Without deep sleep, our brains start to look like a hoarder's house with clutter piled everywhere. When this happens, we can't find the mental information we're looking for (like the name of the neighbor who is now at the door). Sleep well and let your brain get organized. Aim for seven to eight hours a night and make four of those uninterrupted.

  4. Move. A healthy brain needs a strong oxygen supply for all its cells - it uses 20% of all the oxygen we breathe in. Keep arteries open and flowing freely with 30 minutes of aerobic exercise three times a week. Aerobic means you're breathing more heavily and your heart is beating a little faster. Aim for 30 minutes of aerobic exercise three times a week. Your physician can tell you what's safe, but most folks are fine with a brisk walk. A healthy brain needs a healthy body to sustain it.

Our job is to make sure that financial resources support you for your lifetime and that you have a strong financial partner to guide you along the way.  Helping you to achieve an excellent quality of life (including great brain health) to allow you to enjoy those years and meet all of your life goals is something else we would like to accomplish.  All it takes is a little help from you! 

Sandra Adams, CFP® is a Partner and Financial Planner at Center for Financial Planning, Inc.® Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.


Raymond James is not affiliated with Wayne State University Institute of Gerontology.

Investment Commentary: 3Q 2017

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This summer came and went with no shortage of topics for investors to worry about.  Low inflation, natural disasters, and geopolitical tension kept the headlines busy.  Despite all of this, the quarter ended on a positive note.  The uptick in markets was spurred on by a wide-spread pick up in global growth.  Recession risks continue to remain muted as dovish global central banks continue to inject liquidity in the system, or only very slowly begin to pull back on the injections.  In general, economic data remains strong.   We remain watchful for a slowing, particularly in manufacturing, business and consumer confidence, as these are early indicators of the tide of the economy turning. However, they are still positive.

Diversification is coming back into style as international and emerging markets continue to perform stronger than their domestic counterparts this year.  The S&P 500 Index ended the quarter returning 14.24% through the 30th of September.  International markets are truly the bright spot with the MSCI EAFE returning 19.96% and the MSCI EM Index returning 27.78%.  Bonds ended the third quarter with a respectful 3.14% return coming from the Barclays US Aggregate Bond Index.

Rates remain unchanged

In September, the Federal Reserve (Fed) kept rates unchanged, but also announced additional information on how it will begin to unwind the $4.5 trillion balance sheet in October. 

The Committee intends to gradually reduce the Federal Reserve's holdings of treasury securities and agency securities--agency debt and agency mortgage-backed securities (MBS)--by decreasing the reinvestment of the principal payments it receives from securities holdings. Each month, such payments will be reinvested only to the extent that they exceed a pre-specified cap. The caps will rise gradually at three-month intervals over a 12-month period and the maximum value of the caps at the end of the 12-month period will be maintained until the size of the balance sheet is normalized. (https://www.federalreserve.gov/monetarypolicy/policy-normalization-qa.htm)

This plan to shrink the balance sheet seems to reflect the Fed’s positive view of the U.S. economy.

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Proposed tax changes being debated

Political stakes are high for President Trump to score a legislative win on what remains of his campaign promises.  In late September, he unveiled a proposal to slash taxes for individuals and businesses.  To simplify the tax code, Republicans have proposed condensing from seven tax brackets down to three (12%, 25% and 35%), doubling the standard deduction to help tax payers eliminate the need to itemize, and “significantly increasing” the child tax credit while also adding a new tax credit for the care of non-child dependents (elder-care situations).

Currently, many taxpayers use itemized deductions, claiming write-offs for things like charitable contributions, interest paid on a mortgage, state and local taxes. If the standard deduction becomes larger, fewer taxpayers will need to itemize, reducing the incentive to hold a mortgage or contribute to charity.

President Trump is also proposing to cut the corporate tax rate from 35% down to 20%.  A new tax rate would be established for pass-through entities which represent about 95% of businesses in the United States.  Generally when corporate tax rates are cut, markets perform very well in the year following the tax cut. The chart below demonstrates that after the rate cut for corporate taxes (Orange area below the line), the following 1 year returns on the S&P500 are quite positive (blue bar above the line).

Michigan 529 plan changes

In September, the Michigan 529 Advisor Plan, transitioned its program from Allianz Global Investors to Nuveen Securities, LLC.  Account numbers stayed the same and investments mapped over to similar strategies; if you had one of these accounts, the transition was seamless.  Some of the benefits of the change include an expanded investment line-up, more leading edge investment managers and lower fees.  If you have any questions don’t hesitate to reach out!

After several years of equity volatility near historic lows, this quarter we again experienced the speed and scale at which geopolitics can possibly move markets. We remain committed to the view that managing volatility is at the heart of proper portfolio design.  It is a responsibility we take very seriously and we thank you for the continued trust you place in us to help you with these decisions!

On behalf of everyone here at The Center,

Angela Palacios, CFP®, AIF®
Director of Investments
Financial Advisor

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Investment Pulse: Check out Investment Pulse, by Nick Boguth, a summary of investment-focused meetings for the quarter.

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Investor Basics Series: Nick Boguth, Investment Research Associate, talks about exchange rates.

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Of Financial Note:  Jaclyn Jackson, Portfolio Coordinator, shares a look at the asset flow for 3rd quarter.

Angela Palacios, CFP®, AIF® is the Director of Investments at Center for Financial Planning, Inc.® Angela specializes in Investment and Macro economic research. She is a frequent contributor The Center blog.


This information does not purport to be a complete description of the securities, markets, or developments referred to in this material; it has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete. Any opinions are those of Angela Palacios and are not necessarily those of Raymond James. This information is not a complete summary or statement of all available data necessary for making and investment decision and does not constitute a recommendation. Investing involves risk; investors may incur a profit or loss regardless of the strategy or strategies employed. International investing involves special risks, including currency fluctuations, differing financial accounting standards, and possible political and economic volatility. Investing in emerging markets can be riskier than investing in well-established foreign markets. Asset allocation and diversification do not ensure a profit or guarantee against loss. Past performance is not a guarantee of future results. The MSCI EAFE (Europe, Australasia, and Far East) is a free float-adjusted market capitalization index that is designed to measure developed market equity performance, excluding the United States & Canada. The EAFE consists of the country indices of 21 developed nations. The MSCI Emerging Markets is designed to measure equity market performance in 25 emerging market indices. The index's three largest industries are materials, energy, and banks. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. The Barclays Capital US Aggregate Index is an unmanaged market value weighted performance benchmark for investment-grade fixed rate debt issues, including government, corporate, asset backed, mortgage backed securities with a maturity of at least 1 year. Please note direct investment in any index is not possible. Index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary.