The Center Teams Up With Challenge Detroit

Contributed by: Melissa Joy, CFP®

We are pleased to announce that The Center is participating in the fourth year of Challenge Detroit. Challenge Detroit is a nonprofit organization dedicated to bringing tomorrow's leaders to Detroit for a year.

Challenge Detroit is a leadership and professional development program. Each year approximately 30 talented college graduates work for a Challenge Detroit Company and work with other fellows to serve Detroit-based nonprofits. As a company participant, we will be hiring a Challenge Detroit fellow for the next year. Fellows were selected from a group of hundreds of applicants with final interviews in May.

I had the opportunity to meet Challenge Detroit’s executive director, Deirdre Greene-Groves earlier this year. The work Challenge Detroit is doing is inspirational. We’ve wanted to give back to Detroit and our community and this seemed like the perfect fit.

For more of an introduction to Challenge Detroit, here is a video about the mission of the program. We’re excited to introduce you to our fellow soon. Stay tuned!

Raymond James is not affiliated with and does not endorse the opinions or services of Challenge Detroit.

How Millennials Approach Financial Planning

Contributed by: Nick Defenthaler, CFP®

Last month, I visited Dallas, Texas for a unique “conference” – the Financial Planning Association (FPA) NexGen Gathering.  FPA NexGen is exclusive to those who are under the age of 37 and active in the financial planning profession.  As a board member for the FPA of Michigan, I learned about the NexGen group several months ago and was intrigued and very excited that there was a dedicated group connecting and sharing information among younger planners.   

Millennials Don’t Want “Conferences”

From the very moment I arrived, I could feel the positive energy.  As the “gathering” began (apparently calling it a “conference” was too stuffy for us Millennials), everyone gave a brief introduction, said where they had come from and one thing they hoped to come away with by the end of the weekend.  Even with a group of 108, you could truly feel the passion each person had for helping others with money.  For the next hour or so, we developed and voted on several lists of discussion topics that would be the focus of breakout sessions the following day.  No speakers.  No single voice preaching their view on a particular topic.  These were CONVERSATIONS between professionals with an open, casual, yet extremely respectful format. 

Starting Conversations & Building Relationships

The following day there were 6 breakout sessions, each with 4 topics to choose from to attend the round table discussions.  It was so difficult to just pick one because so many great ideas came out of the previous day’s brainstorming session. I came away with several great ideas to immediately put into practice both professionally and personally, which in my opinion, is what attending “conferences” and participating in professional development opportunities is all about.  I’ve also found that the relationships you develop while away from home at events such as the NexGen Gathering with like-minded peers does nothing but help you progress and become a better planner and professional.  It’s amazing what you can learn from others if you keep your mind open and challenge the way you normally think. 

Overall, the NexGen gathering was a great experience and I truly enjoyed spending time with the current and future leaders in the financial planning profession. I can tell you, they truly love what they do each and every day – helping others live great lives.  I look forward to attending the Gathering again next year and coming away with a new sense of energy like I have this year!

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc. Nick is a member of The Center’s financial planning department and also works closely with Center clients. In addition, Nick is a frequent contributor to the firm’s blogs.

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Any opinions are those of Nick Defenthaler, CFP® and not necessarily those of RJFS or Raymond James. Raymond James is not affiliated with and does not endorse the opinions or services of the Financial Planning Association (FPA). Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

“My Social Security” Online Account Access

Contributed by: James Smiertka

Did you know you can now take advantage of the My Social Security benefits site? When you visit, you simply sign up for an account. It is a free service, and as of May 29, 2015 more than 19 million accounts have been opened.

The Benefits

If you are currently receiving benefits and/or have Medicare, you are able to:

• Get your benefit verification letter if you need proof of income, Medicare coverage, retirement status, disability, or age
• Check your benefit & payment information and view your earnings record
• Change your address and/or phone number
• Start direct deposit of your benefit or change your direct deposit info
• Get a replacement Medicare card
• Get a replacement SSA-1099 or SSA-1042S for taxes

If you do not currently receive benefits, you are able to:

• Review your Social Security Statement including estimates of your future retirement, disability, and survivor benefits
• Review your earnings once annually to verify the amounts are correct
• Review the estimated amounts of social security and Medicare taxes you have paid
• Receive a benefit verification letter if you need proof that you have never received Social security, Supplemental Security Income (SSI) or Medicare

How to Create an Account

Below is a screenshot of what you can expect to see when you visit the website:

When you select “Create an Account” you will be re-directed to the following page:

Since you are a new user, click on the blue  “Create An Account” and enter your personal information:

On the following page you will confirm some information that is provided, such as your mortgage company, auto loan company, license plate, and current vehicle, etc. The confirmation of this information is used to verify your identity.

Next you will create your username & password as well as choose your password security questions:

Now you are ready to sign in to your My Social Security account. Below you’ll see an example of the information you can access when you sign in (included are the Overview & Estimated Benefits pages):

Keeping Your Information Secure

It is always important to keep your information safe and secure. Here are some important things to keep in mind:

• Emails about “My Social Security” and other government agencies always come from a “.gov” email address. Use extreme caution if the email you received is not from a “.gov” sender.
• Links, logos, & pictures will always direct you to an official Social Security website
  • Examples: http://www.socialsecurity.gov/ or https://secure.ssa.gov
  • Hover over a link or picture until a text box appears showing the destination address
• DO NOT respond or click any links when dealing with a phishing scam email message
  • You may forward the scam email to the U.S. Computer Emergency Readiness Team at phishing-report@us-cert.gov
•  Look for poor grammar, wording, phrasing, and/or spelling in all email correspondence
•  Look for outlandish claims that could not possibly be true
  • If a “foreign prince” emails your from overseas offering to share his gold bullion reserves in exchange for you wiring him a few hundred dollars now for safe border passage between war-torn countries, it’s probably not a legit email
  •  If an email includes the name of a business and/or contact information, such as telephone number or website link, you can attempt to verify the legitimacy via a search engine like Google
• Speak to friends and family members if you are questioning the validity of a strange email
• DO NOT respond with any of your personal information if you believe the email may be a scam

I hope this information will be useful for signing up and realizing the benefits of a “My Social Security” account, as well as keeping your information safe. If you have any further questions, you can utilize the www.ssa.gov website or contact your local Social Security office directly.

James Smiertka is a Client Service Associate at Center for Financial Planning, Inc.

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The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

Why Financial Planners are a lot like Personal Trainers

Contributed by: Matt Trujillo, CFP®

I recently had the opportunity to work with a personal trainer at my local gym. My wife was kind enough to purchase some sessions for me, and it was her gentle way of letting me know I’ve added on a few pounds! When I sat down with the trainer at my initial session I couldn’t help but notice the similarities between what I do for a living and what personal trainers do.

Personal Trainer's line of questioning: (I’m paraphrasing)

Trainer: What were you hoping to accomplish over the next 8 weeks?

Me: I would like to develop some good habits so I can get back on a systematic workout routine.

Trainer: Ok, I can certainly help with that…anything else on your mind?

Me: Yes I would like to lose 10 pounds.

Trainer: That’s definitely doable, but you’re going to have to push yourself in the gym as well as practice disciplined eating habits outside of the gym. Losing weight is a science and your body is a machine.  Most people lack the mental discipline and have a hard time reaching their goals because of their behavior.

When I left the gym I couldn’t help but think about his comments the whole drive home. At The Center, our entire focus is on goals-based financial planning.

Our initial line of questioning with our clients is very similar to a personal trainer:

We Ask: How can we help you? What were you hoping to accomplish? What matters most to you with regards to your finance and money?

We Get Answers Like: I want to retire at 65. I want to be financially independent by 60. I want to leave a financial legacy.  I want to make sure my family is taken care of if something were to happen to me. I need help with my investment decisions.

These are just a few of the most common answers. Our mission is to provide world class service in helping our clients achieve their goals.  We do this by practicing a disciplined investment approach and by looking at all facets of a client’s financial life. 

If you haven’t taken the time to establish specific financial goals then I strongly encourage you to do so. Financial planners can help you identify and define those goals, just like your personal trainer can help you build and define your muscles.

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.

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Any opinions are those of Matthew Trujillo, CFP® and not necessarily those of Raymond James. Investing involves risk and investors may incur a profit or a loss.

Women & Investing: How to get more Engaged with Finances

Contributed by: Laurie Renchik, CFP®, MBA

How does a busy, multi-tasking woman make sure the important financial stuff does not get missed? A statistic in a 2015 Fidelity Investments study recently caught my attention.  According to the study:

83% of women would like to become more engaged with their finances within the next year. 

Working with women over the last 20 years has taught me that the first step is usually the most difficult.  Once the decision is made to pull a financial plan together, the pieces start to fall nicely into place. But getting over that initial hurdle of getting started can seem daunting.

Here is some practical advice to get you started:

• Give your personal financial life the attention that is needed. If you feel like life is whizzing by, take time to step back and ask, “Am I on the right track?”

• Start creating a mental picture of your goals. You probably have at least a vague picture in your head of what you want in the future.  The beauty of the financial planning process is that it makes conversations happen especially with the help of a financial planner who serves as a thinking partner.

• Pull a team together.  Your financial planner, tax preparer and attorney can help you keep your arms around the different aspects of your financial plan. They’ll also help you make important course corrections when necessary and chart the progress as you go.

Practical advice to keep you on track:

• Continue to ask questions. Financial planning means asking, “Where do I want to be in 3 years?, 10 years?, 20 years?” This may change as you go along.

• Stick to your plan.  Good financial habits are a foundation you can build on for a lifetime.

• Stay focused on your priorities. A good plan will help you remind yourself what is most important in your life and decide how your financial resources can help you get there. 

The future is not the finish line; it is just the beginning if you have the resources to lead the life you want.  Is there a better reason to become more engaged with your finances and put your plan together? 

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 was named to the 2013 Five Star Wealth Managers list in Detroit Hour magazine, is a member of the Leadership Oakland Alumni Association and in addition to her frequent contributions to Money Centered, she manages and is a frequent contributor to Center Connections at The Center.

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Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Laurie Renchik and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Investing involves risk and investors may incur a profit or a loss regardless of strategy selected.

Green Money: Tracking the Socially Responsible Investing Trend

Contributed by: Laurie Renchik, CFP®, MBA

The concept of using investment dollars to support environmental and societal initiatives is not a new idea.  For decades socially responsible investing, also called SRI, has been recognized as a broad investment category spurred on by religious values, social movements and concerns about health and the environment. Today the SRI landscape is changing.  There are new strategies that fall under the responsible investing umbrella with differing objectives, more exposure to a wider range of asset classes and a growing number of investment dollars being put to work.  This is good news for investors who have personal and financial goals to incorporate responsible investment strategies into their portfolios.

Navigating this emerging landscape is nuanced because there is no single term that describes the multiple approaches evolving from the original concept of responsible investing. Socially responsible investing (SRI), ESG investing (environmental, social and governance) and Impact investing make up three main categories. There are some distinct differences between the three.

At the most basic level, here are the philosophical guideposts:

SRI Investing:  Creating a portfolio that attempts to avoid investments in certain stocks or industries through negative screening according to defined ethical guidelines.

ESG Investing:  Integrating environmental, social and governance factors into fundamental investment analysis to the extent they are material to investment performance.

Impact Investing:  Investing in projects or companies with the express goal of effecting mission-related social or environmental change.

What does responsible investing mean to you? 

Incorporating responsible investment strategies into your portfolio is not a one-size-fits-all solution.  Your goals are specific to you and your objectives for the future.  Talk with your financial planner to better understand the opportunities available today to integrate responsible investment strategies in your portfolio.    

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 was named to the 2013 Five Star Wealth Managers list in Detroit Hour magazine, is a member of the Leadership Oakland Alumni Association and in addition to her frequent contributions to Money Centered, she manages and is a frequent contributor to Center Connections at The Center.

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Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Laurie Renchik and not necessarily those of Raymond James. Investing involves risk and investors may incur a profit or a loss. Every investor's situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

The Best $115 I’ve Spent This Year

Contributed by: Nick Defenthaler, CFP®

As some of you may have seen on past blog or social media posts, my wife Robin and I are expecting our first child in August.  Since we found out the amazing news in December, we have both been beyond excited to become parents and meet our bundle of joy.  A few weeks ago, we had the opportunity to have a 4D ultrasound. I have to say it was one of the coolest things I’ve ever experienced!  For us guys, it can be tough to fully appreciate what’s really happening when the woman you love is carrying your child.  We aren’t going through the physical changes and it’s sometimes hard for us to even fathom that we’re going to be a dad in a few short months. 

When my wife suggested we have a 4D ultrasound completed, I was all about it.  I’ve seen those incredible pictures and videos from people I know.  As cool as I thought they were, nothing could have prepared me for the amazement I felt when Robin and I could clearly see our little man’s face for the first time.  Sure, we had an ultrasound when we found out the baby’s gender, but the clarity, as most know, was very poor and muffled.  For about 20 minutes, the ultra sound tech was able to show us multiple angles of our son and she got some incredible pictures and video.  Needless to say, I lost the battle of fighting off the tears.  When we left, I had a completely different mindset and feeling.  The struggle of actually feeling like this was “real” dissipated and I felt like a father immediately. 

As time progresses and his due date gets closer and closer I’ve come to realize how much of a miracle having a child truly is.  The journey we have been on the past 7 months has forever changed my life and I can’t imagine the joy I’ll feel when he arrives.  If you or anyone you love and care about are expecting, I would highly recommend the 4D ultrasound, especially for the guys out there.  Although not covered by insurance, it was hands down the best $115 I’ve spent this year. 

The next few months will be very exciting and Robin and I are so ready to meet our son.  Stay tuned for Baby Defenthaler’s arrival and debut as the newest Center team member!

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc. Nick is a member of The Center’s financial planning department and also works closely with Center clients. In addition, Nick is a frequent contributor to the firm’s blogs.

Part 6: A Year of Lessons on Money Matters for your Children and Grandchildren

Contributed by: Matthew E. Chope, CFP®

When it comes to keeping track of finances, my advice for the young is to keep it simple and straightforward and get qualified help if needed. That starts by finding a way to track your money without making it an obsession. Begin by tracking your finances at least once a month.  To do this, simply add up what’s coming in and then look at where it’s going. Once you’ve established that you are indeed living within your means, it is time to establish two kinds of savings accounts that you contribute to each month:

1. Build a “Save to Spend” account

2. Build a long-term financial security account (i.e. 401k or IRA)    

The Save to Spend account is where you park money for the short term to be spent on things that lead you toward the 100 things you want to accomplish in life (read this blog if you don’t have your 100 things list yet).  The long-term security account is for financial independence, which will eventually allow you to work because you want to not because you have to.

Investing does not need to be overly complicated either. For some good reading to help you build knowledge about investing, here are a few books I recommend:

• The Wealthy Barber by David Chilton

• A Random Walk Down Wall Street by Burton Malkiel

•  A Little Book of Common Sense Investing by John C. Bogle

• The Investment Answer by Daniel C. Goldie & Gordon S. Murray

• The Millionaire Next Door by Thomas J. Stanley & William D. Danko

Once you understand the basic principles -- like diversification, pay yourself first, don’t miss a match, maximizing deductions and credits, and dollar costs averaging -- and if you have the interest to follow those principles, then do it on your own but keep it simple.  Remember to review my previous blog about using time to your advantage (start early – start now!). It might make sense though, to consider getting qualified help managing your money, especially if this is something you’re not interested in doing. If you’re looking for help, here are 7 key components to help you find the right person.

Matthew E. Chope, CFP ® is a Partner and Financial Planner at Center for Financial Planning, Inc. Matt has been quoted in various investment professional newspapers and magazines. He is active in the community and his profession and helps local corporations and nonprofits in the areas of strategic planning and money and business management decisions. In 2012 and 2013, Matt was named to the Five Star Wealth Managers list in Detroit Hour magazine.

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Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Matthew Chope, CFP® and not necessarily those of Raymond James. Investing involves risk and investors may incur a profit or a loss.

Dan Boyce Offers Insight Ted Talk-Style

Contributed by: Center for Financial Planning, Inc.

Dan Boyce, founding partner of Center for Financial Planning, has a passion for doing things the right way. And often doing things the right way comes down to doing them in the right order, he told the audience at the Raymond James National Conference. He was asked to deliver an insightful Ted Talk-style speech of things he’d learned in his 28 years with Raymond James. For instance, is it a successful business that makes for a successful life or does living a successful life open the doors for a more successful business? In the late 1980s, when Dan had been in the business about eight years, he met a fellow advisor who managed to take three months off each summer to spend time traveling or camping with his wife and kids. It was then Dan decided he would design the kind of business strong enough to serve him, instead of him simply serving the business. So he planned ahead to make it a possibility – and determined that there were three principles to get him from where he was to where he wanted to be.

Dan’s Key Takeaways: 3 Principles to Help You Succeed in Life (and in Business)

1. Strive to grow; strive to know.

Seek and embrace honest feedback – Dan sets aside two hours a week to meet with his partners and have honest discussions. Their commitments to each other are inviolate and as important as their commitments to their clients.

Develop intellectual curiosity – At one time, Dan hired the wrong people. He now realizes his staff must be as curious about best practices, best research, best ways to do things as he is, and he won’t hire them unless they demonstrate that curiosity.

Become a better person – It is the only way to become a better advisor. Reflect each day to see if you lived up to your values or fell short. Study your experience – it can lead you to be better.

2. Focus on the inputs – don’t focus on success as a goal, focus on the behaviors, attitudes that make for success.

Dan is a big-picture guy. He realized 15 years ago that he wanted a team that gelled in order to generate growth, so he put in writing how he would approach professional development – from support staff to partner. He oriented incentive compensation around behaviors that lead to outcomes – not simply the outcomes themselves. And he began tracking the activities that drove results – e.g., public speaking, contact with centers of influence, client contacts, print exposure and social media. His team also tracked outcomes such as new clients, added revenue and greater profits, but incentivized based on the activities – they focused on the inputs.

3. Be yourself and be true to yourself – be awake to feelings, talents, strengths and weaknesses – know what you want and who you are.

Dan believes it is very important to be true to yourself – to know your core values and to act on them. He encouraged the audience to take the values of “have,” “do,” “be” and turn them around to “be,” “do,” “have.” Determine who you want to be. Then figure out what you need to do. Then decide what you can have.

Why Age Matters with Michigan’s Pension Tax: 2015 Update

Contributed by: Laurie Renchik, CFP®, MBA

In the three years since Michigan’s Pension Tax was enacted, many more baby boomers have reached retirement age and started to tap into their pensions. It’s no secret that tax law is complex and we are not surprised that Michigan retirees have plenty of questions when it comes to the MI pension tax rules.  Even though the pension tax for Michigan retirees was enacted back in 2012, the subject continues to generate interest from retirees and pre-retirees alike. 

The rules for retirees vary based on age:

• Tier 1:  You were born before 1946

• Tier 2:  You were born between 1946 and 1952

• Tier 3:  You were born after 1952

Special Note:  For joint returns, the age of the oldest spouse determines the age category that will apply to the pension and retirement benefits of both spouses, regardless of the age of the younger spouse. 

Taxpayers born before 1946

If you were born before 1946, there is no change in the income taxes for your pension income.  This means your social security income is exempt and so is income from public pensions.  You don’t pay taxes on the first $49,027 ($98,054 if you’re married and filing jointly) from private pensions.  You also get a senior citizen (over age 69) subtraction for interest, dividends and capital gains.

Taxpayers born between 1946 and 1952

 If you were born between 1946 and 1952, your social security income is exempt and so is income from railroad and military pensions.  You don’t get a senior citizen subtraction for interest, dividends and capital gains.  Before age 67, you don’t pay taxes on the first $20,000 ($40,000 if you’re married and filing jointly) from private or public pensions.  After age 67, you can subtract $20,000 ($40,000 if you’re married and filing jointly) from the amount you’ll pay taxes on unless you take the income tax exemption on military or railroad pensions. 

Taxpayers born after 1952

 If you were born after 1952, your social security income is exempt and so is income from railroad and military pensions.  You don’t get a senior citizen subtraction for interest, dividends and capital gains.  Before age 67, you are not eligible for any subtractions from your income from private or public pensions.  After age 67, you can choose to continue to have social security and railroad or military income exempt or you can choose to subtract $20,000 ($40,000 if married and filing jointly) from the amount you’ll pay taxes on. If you choose to keep your social security and railroad or military income exempt, then you can claim a personal exemption.

If you need help sorting through the pension guidelines, please give us a call or email me at laurie.renchik@centerfinplan.com.

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 was named to the 2013 Five Star Wealth Managers list in Detroit Hour magazine, is a member of the Leadership Oakland Alumni Association and in addition to her frequent contributions to Money Centered, she manages and is a frequent contributor to Center Connections at The Center.

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Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Laurie Renchik, CFP® and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. 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 matters. You should discuss tax matters with the appropriate professional.