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The Pros and Cons of Charitable Gift Annuities

By Lineweaver Financial Group
September 19, 2019 Category: Charitable, Annuities, Annuity, Charity, Donations

In past articles, weve discussed the pros and cons of private foundations and donor advised funds, but there are other options that can help people support their favorite charity while also providing income for themselves as well. One option is a charitable gift annuity, which is essentially a contract between a donor and a charity. As the donor, youd make a sizable gift to charity using cash, securities or possibly other assets, and in return, you become eligible to take a partial tax deduction for your donation, plus you receive a fixed stream of income from the charity for the rest of your life. When you make a donation to a single charity, the gift is set aside in a reserve account and invested. Based on your age when you make the gift, or ages if its both you and your spouse, youd receive a fixed monthly or quarterly payout for the rest of your life. Then, at the end of your life (again, as well as your spouses, if youre giving as a couple), the charity receives the remainder of

Planning for Long-Term Care

By Lineweaver Financial Group
August 29, 2019 Category: Longterm Care, Healthcare, Elder Law, Estate Planning, POA, Power Of Attorney, Retirement

Many people dont know that over 69% of people turning 65 this year will need some sort of long-term care at some point in their retirement. Our firm specializes in planning for and managing retirement for private and institutional clients, and our clients often require advanced planning to protect their assets. First of all, its important that you have an elder law attorney. Elder law is a niche area of legal practice covering estate planning, wills, trusts, retirement healthcare planning and protection of assets. A good elder law attorney can help advise you on all these areas. The right planning starts with the right documents, especially the Power of Attorney. The power of attorney law changed in Ohio in 2012 to the Uniform Power of Attorney Act, and many powers of attorney documents dont conform with this legislative change. We highly recommend for anyone with a power of attorney written prior to March of 2012, that you have that document reviewed to determine if it meets the new

Credit Unions vs Big Banks

By Lineweaver Financial Group
July 26, 2019 Category: Credit Unions, Pse, Big Banks, Savings, Checking, Banking

Often times, credit unions grow up around a community, or a place of business, and the PSE credit union is no exception. The PSE Credit Union has been around since 1955, and originally started as the Parma City Employees Credit Union, and now, anyone can become a member. Many people understand the difference between credit unions and big banks, but what is it specifically that sets them apart? At the PSE Credit Union, its that they are a not-for-profit business, as opposed to the big banks, which are for profit. Instead of having to appease their shareholders, their goal is to serve their members. In their eyes, whats best for a banks shareholders isnt always best for the customers as a credit union, whats best for theircustomers their primary goal. This can often translate to better service and member satisfaction. For example, according to the most recent annual American Customer Satisfaction Index, credit unions scored an average of 86% for customer satisfaction, while the average

Economic Commentary: Q3 2019

By Lineweaver Financial Group
July 02, 2019 Category: Economic Commentary, Review, Q3

Investment Directions - Staycation or Vacation? Sell in May and go away is an old maxim for investors. Evidence is mixed on its validity, but given this years rally, the temptation now is understandable. Our take: consider taking some profits and rotating into exposures that offer more resilience if volatility returns. Think of it as the investor version of a staycation and catch up on chores. With that in mind, our take on the major investor themes for the weeks ahead: U.S. Equities: Reverting to Technology We remain overweight U.S. equities, and one of our favored sectors is technology. Even with strong performance this year, we believe the sector remains appealing. Technology firms tend to have strong balance sheets and enjoy support from longer-term trends, attractive qualities in a late economic cycle. Furthermore, tech stocks have historically fared well through various yield curve regimes. Developed Markets: Europe Poised for Revival? Investors in Europe have had little reason

Healthwatch: Tips for Lowering Your Risk of Dementia

By Lineweaver Financial Group
July 02, 2019 Category: Dementia, Healthwatch, Health, Q3

Theres no effective treatment for dementia, which affects 50 million people worldwide, but the World Health Organization (WHO) says theres much that can be done to delay or slow the onset and progression of the disease. In May, WHO issued the following recommendations to reduce the risk of dementia globally, and combat cognitive decline: Regular physical exercise Dont use tobacco Drink less alcohol Maintain a healthy blood pressure Eat a healthy diet, particularly Mediterranean foods Avoid dietary supplements such as Vitamins B and E WHO said there are 10 million new cases of dementia every year, and this figure is set to triple by 2050. The disease is a major cause of disability and dependency among older people and can devastate the lives of affected individuals, their careers and families, the organization said. Although the report stressed that social participation and social support are strongly connected to good health and individual well-being, it said there was insufficient

Bipartisan Support in Congress to Make Retirement More Secure

By Lineweaver Financial Group
July 02, 2019 Category: Congress, Retirement, IRA

by LFG Tax Director, Mark Sipos On May 23rd, 2019, the U.S. House of Representatives voted overwhelmingly in favor of the SECURE Act, which stands for Setting Every Community Up for Retirement Enhancement. Most of the provisions in the act are designed to make it easier for more people to save for retirement, and for more employers to offer retirement plans for their employees. One notable provision in the bill would essentially end whats known as the stretch IRA. Under the current law, when a beneficiary inherits an IRA, the beneficiary can choose to have the IRA balance distributed in two ways: either in required minimum distributions based on his or her life expectancy, or during the five years after the original account holder passes. Making maximum use of the IRAs taxdeferred compounding like this is known as a stretch IRA. Under SECURE, in most instances an inherited IRA would have to be fully distributed within 10 years of the original owners death, although there are some exceptions. Some

Sell in May and Go Away: Two Market Myths to Avoid this Summer

By Lineweaver Financial Group
July 02, 2019 Category: Sell In May And Go Away, Market, Stock, Buy, Sell

by Jim Lineweaver, CFP, AIF Theres an old saying youve probably heard that says Sell in May and Go Away. But is that good advice? Whats the best thing for you and your investments over the historically slower summer months? The phrase sell in May and go away is thought to originate from an old English saying, and it turns out it did have some validity, at least from 1950 to around 2013. During that time, the Dow had an average return of only 0.3% during the May to October period, according to Forbes. But, since 2013 theres good reason to believe thats no longer the case. For example, the SP 500 rose nearly 7% from the beginning of May 2017 through the end of October, according to YCharts. The blue-chip index was up 5% during May through October of 2016 as well. Another common myth is the October Effect, which is the perception that stocks tend to decline during the month of October. Most statistics go against the theory. Some investors may be nervous during October because the dates

Utilizing Roth Conversions as Retirement Tools

By Lineweaver Financial Group
June 13, 2019 Category: Roth Ira, Roth Conversion, Traditional Ira

Many people close to retirement are unaware of the many reasons why a ROTH Conversion can be a great retirement strategy. A good example of someone who successfully used a ROTH conversion as a retirement tool is Max Levchin, one of the Founders of Paypal, and later Yelp. He placed around 3.9 million shares of Yelp into his ROTH IRA. The share values have previously been higher, but recently its been trading at about $36 per share, meaning he has over $140 million in the ROTH alone. That isnt just impressive because of the amount, but because a ROTH will allow it to continue to grow tax-deferred, and to later be accessed tax-free as well. A lot of people are asking themselves well why dont we have ROTHs too?, and it absolutely is something everyone should at least consider-- but the process itself isnt quite that simple. When it comes to choosing between a ROTH or Traditional IRA, there are a few things you should consider. One of the biggest concerns is your tax bracket. With a ROTH

Market Update: 2019 in Review

By Lineweaver Financial Group
May 30, 2019 Category: Market Update, Chad Roope

We spend a lot of time analyzing the markets history, the macroeconomy, and many other aspects of the financial markets; and while past performance doesnt always indicate future performance, there are a lot of good indicators that will help us to look forward. The fourth quarter of 2018 was the S P 500s third worst in history, while the first quarter of 2019 was the best first quarter in 21 years. The Feds complete U-Turn with interest rate policy and the massive Chinese stimulus of around $1T USD really has played a big part in that change in sentiment. Earnings have been a positive surprise so far this quarter as well. Earnings so far for Q1 have been generally good with 78% of companies reporting a positive EPS. But, to be fair, these numbers are coming on low expectations. Q1 was very good with all 3 months in positive territory. In the prior 22 times this has happened, the market was higher about 91% of the time during the next 9 months. So, history would suggest theres a decent

Were Your Taxes a Costly Surprise This Year?

By Lineweaver Financial Group
May 02, 2019 Category: Taxes, Trump, Portfolio

Theres been a lot of confusion this year, as we all file for the first time under the New Trump Tax Law. Some people are finding that their returns are lower, or that deductions theyve always depended on have gone away. The biggest cause that we see for a lower return is a lack of tax strategy and planning in advance most strategies have to be in place by the end of the tax year not at filing time. There are estate planning implications as well for example, if youre considering a ROTH conversion, which can be a great strategy, there used to be q do-over period you had in case something happened after the fact, or if you changed your mind. However, thats no longer the case. There are two parts to this; 1) being proactive, and 2) investing for tax efficiency, because taxes have the ability to take the largest bite out of your portfolio and your returns, and, its important to remember that its not what you make its what you keep. That means working with a team to build a portfolio

The Power of Coordination

By Lineweaver Financial Group
April 18, 2019 Category: Coordination, Tax, Legal, Insurance, Financial, Wills, Estate Planning, Taxes, Retirement

At the Lineweaver Companies, we believe a team approach to coordinating all your financial, legal, tax, and insurance needs helps save you time, money and worry. For example, we had clients who were both close to retirement, and unfortunately the husband had been diagnosed with terminal cancer. The first thing we did was to work with them to make sure his pension was triggered in such a way that the wife could receive a greater lifetime benefit - almost a million more dollars than she would have otherwise received. At the same time, in this sort of situation, you have to consider powers of attorney and other basic estate planning documents that everyone should have, like wills, and even if trusts make sense for your particular situation. There were also huge student loan balances of more than $120,000. But, because they kept the loans entirely in the fathers name, when he passed, the debt was forgiven. But what many people dont know is that the forgiveness of debt in this

Economic Commentary: Q2 2019

By Lineweaver Financial Group
April 02, 2019 Category: Economic Commentary, Q2 2019

Investment Directions - Spring Forward Once again, spring is near, a time of growth, renewal and restoration. But with concerns over slowing growth, uncertainty around economic and earnings outlooks, and ever-present U.S.-China and European political risks, investors should be prepared for potential spring volatility. Our take on the major themes for this quarter: U.S. Equities: The Healthy Healthcare Sector In an environment of slowing growth and less certain earnings outlooks, the traditional defensive qualities and resilient earnings growth of healthcare stocks are appealing. Plus, valuations broadly look reasonable compared to historical levels. Tactical investors may consider getting more granular with the medical devices industry. Developed markets: What Next for Brexit? With Theresa Mays Brexit plan resoundingly defeated, she must now renegotiate a deal. We believe the United Kingdom is likely to avoid a hard exit with an extension of the March 29 deadline to exit and gain time

HealthWatch: Keeping Your Mind Sharp in Retirement

By Lineweaver Financial Group
April 02, 2019 Category: Keeping Your Mind Sharp, Healthwatch

Seniors who stay active mentally may be able to help keep their mind sharp longer. When it comes to brain power, much like your muscles, the use it or lose it concept applies, says Dana Anspach, CEO and founder of Sensible Money in Scottsdale, Arizona. Retirees who engage in life-long learning keep their brain engaged by challenging themselves to learn new skills. Its important to find things youre curious about and dive in. And in retirement, you have the time to do it. Taking classes in retirement can also be a way to meet new people with similar interests and socialize. You can go lots of places to learn. You can purchase CDs or DVDs. You can learn from great teachers, Frank says. We have a sense of community. You will meet people in classroom and continue conversing after class. Were all teaching and learning together. Some colleges, including Pennsylvania State University and Colorado State University, allow seniors to audit classes tuition-free. Other universities, such as Boston

Spring Cleaning Your Finances

By Lineweaver Financial Group
April 02, 2019 Category: Sring Cleaning Your Finances, Letter From The President

As the weather in Cleveland (Hopefully!) starts to improve, many people are thinking about spring cleaning their homes and yards. This is also a great time of year to do a little spring cleaning on your finances as well. 1. Check in on Your Budget: Having a good budget is a huge part of a successful financial plan, so its wise to revisit it periodically. Look at areas where you may be spending, as well as areas where you have more budgeted than youre spending. The goal here is to track your finances without having to spend huge amounts of time every month. After all, you want to be as wise with your time as your money. 2. Check Your Tax Withholdings: Its tax season, and that big refund feels good! But essentially it means that youve given the government an interest free loan for the year, and so it may be wise to revisit how much youre having withheld. 3. Take a Home Inventory: If you have homeowners insurance, you need an inventory of all your possessions. An inventory will make it

A Visit to the Pro Football Hall of Fame

By Lineweaver Financial Group
April 02, 2019 Category: Pro Football Hall Of Fame, Anne Graffice, David Baker

This quarter we had a chance to film four episodes of The Financial QuarterbackSM on-site at the Pro Football Hall of Fame in Canton, Ohio. The interview scenes with President David Baker and Vice President of Development and Strategic Adventures, Anne Graffice, were shot in the gallery of busts, and it was a truly unique experience. We also learned quite a bit about the hall itself and its nomination process. For example, at the first level of nomination anyone can get involved. Any fan may nominate any player, coach or contributor who has been connected with pro football simply by writing to the Pro Football Hall of Fame. The only restriction is that a player and coach must have been retired at least five years before he can be considered. Theyre also making a lot of progress on the construction of Johnson Controls Hall of Fame Village which, when completed, is expected to be an $899 million-dollar mixed-use development of the Pro Football Hall of Fames campus. It will be the firstever

Economic Commentary - Q1 2019

By Lineweaver Financial Group
January 07, 2019 Category: Economic Commentary, 2019, Q1

Global financial markets experienced heightened volatility during the fourth quarter of 2018 as concerns surrounding higher interest rates here in the U.S., and uncertain trade and tariff relations worldwide, weighed heavily on investor sentiment. We present a few highlights from the 4Q18 below: U.S. equity markets sold off sharply during the fourth quarter in volatile and choppy trade, with large intra-day moves the norm. In this risk-off environment, the S P 500, the Dow Jones Industrial Average and the technology-heavy Nasdaq Composite traded sharply lower. On the economic front, U.S. economic data remained strong. However, there are potential international and domestic headwinds that could dampen growth, particularly uncertainty surrounding trade policy for U.S. businesses. Developed international equity markets posted steep declines in tandem with those here in the U.S. Financial markets in the Eurozone generally lagged those in the Pacific ex-Japan region as Brexit worries persisted.

HealthWatch: Healthy Cooking Habits

By Lineweaver Financial Group
January 07, 2019 Category: Healthwatch, Healthy, Cooking, Tips

3 Easy Tips for Healthier Cooking When it comes to healthy cooking, a lot of focus goes into choosing good ingredients loaded with the nutrients you and your family need. But the truth is, the way you prepare food can be just as important as what you buy. Certain cooking techniques will help maximize your foods nutrition, while others will minimize the intake of less healthy elements like added sodium and unhealthy fats. Here are three simple ways you can easily adjust your cooking for a healthier lifestyle! 1. Treat Your Vegetables Right Boiling and overcooking certain vegetables robs them of vitamins, minerals, and antioxidants. By steaming them instead, you will preserve more nutrients in vegetables than boiling, stir-frying, or even blanching. For canned vegetables, you can lower their sodium content by up to 40% by rinsing them in water. However, rinsing can also remove some of the Vitamin C from some canned vegetables. Using no- or low-sodium canned foods is an even easier way to

Letter From the President Q1 2019

By Lineweaver Financial Group
January 07, 2019 Category: Letter From The President, Jim Lineweaver, New Years Resolutions

5 Financial Resolutions to Make in the New Year Most major new years resolutions are pretty common, and often many of them are financial. 1. First things frst--the base of any good financial plan is insurance. You want to make sure all your insurance policies are in proper order. This includes life insurance, disability insurance, long-term care insurance (if you are retired), making sure your property and casualty limits are appropriate, and even an umbrella policy especially if you have kids or young drivers in the house. 2. The second is to pay yourself first. We generally recommend saving 15-20% of your gross income. First make sure some of this goes into an emergency reserve for you, which is usually 3-6 months of your after-tax income. Then try and maximize your pre-tax or ROTH contributions to get money tax deferred or tax free for retirement. 3. Number three is to ask yourself - are your financial goals on track? This can range from funding your kids education to buying that

Market Outlook 2019

By Lineweaver Financial Group
January 07, 2019 Category: Market Outlook, 2019, Market, Financial Goals

By Chad Roope CFA, Lead Portfolio Manager - Fundamentum The recent equity market correction has no doubt been uncomfortable. As of the end of year close, the SP 500 ended the year to date down 6.24%. Concerns about slowing global economic growth, worries that the Federal Reserve is pushing interest rates too far too quickly, fears around the US/China trade war and uncertainties about a US Government shut down have all combined to create downside volatility that weve not experienced in a few years. While we agree this is all concerning and that we are likely to continue to see more volatility in the shorter-run, we do not see an economic recession in 2019 based on the data we see today. US corporate earnings growth is likely to be reasonably strong in the first half of 2019, manufacturing data remains in expansionary readings in the US, US unemployment continues to be at historically low levels, and consumer confidence remains relatively high as well. Those are all good signs as well

The Importance of Diversification

By Lineweaver Financial Group
December 27, 2018 Category: Diversification, Portfolio, Investments, Stocks, Bonds

Many people think their investments are diversified, but when you dig deeper on any given portfolio, we find thats often not the case. In order to diversify your portfolio, you want to choose a variety of assets stocks, bonds, cash and others but you also want to choose ones whose returns havent all historically moved in the same direction, and, ideally, assets whose returns typically move in opposite directions to hold up your portfolio hold up better in down markets. That way, even if a portion of your portfolio is declining, the rest of your portfolio, hopefully, is growing, and you can potentially offset some of the impact of poor performance on your overall portfolio. Another important aspect of building a well-diversified portfolio is that you try to stay diversified within each type of investment. For example, in terms of your individual stock holdings, beware of overconcentration in a single stock. We usually advise our clients that a single security shouldnt account for

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