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Scheduling an initial meeting with a financial planner can feel like a significant step, especially for those who have not gone through the process before. Questions about what to expect, what to bring, and how to prepare are common. While every firm may structure these conversations a little differently, most introductory meetings are designed to be informational and conversational. They provide an opportunity to share your current financial picture, discuss goals, and better understand how financial planning works. With a bit of preparation, individuals can approach this first meeting with greater clarity and confidence. What Typically Happens During An Initial Meeting An introductory meeting with a financial planner is usually centered around getting to know you and your financial situation. Rather than focusing on specific decisions, the conversation often begins with a general overview of your current circumstances and priorities. Topics that may be discussed include: Your current financial situation, including income, savings, and existing accounts Short-term and long-term financial goals Major life events that may influence planning Any concerns or questions you may already have The planner may also explain how their process works, including how financial plans are developed, how meetings are structured, and how ongoing communication typically takes place. This initial conversation is not about having everything finalized or figured out. Instead, it is a starting point for understanding how different pieces of your financial life fit together. Documents and Information That May Be Helpful To Bring Bringing a few key documents to your first meeting can help provide context and make the conversation more productive. While it is not necessary to have every detail organized, having a general picture of your finances can be helpful. Some individuals choose to bring: Recent tax returns Pay stubs or documentation of income Statements for retirement accounts, investment accounts, and savings Information about employer benefits, such as retirement plans or insurance Mortgage statements or other debt-related information Estate planning documents, if available These documents can help create a clearer view of your financial situation. However, if certain items are not readily available, that is generally not a barrier to having an initial conversation. The goal is not perfection, but preparation. Thinking Through Your Financial Goals Before your meeting, it can be helpful to spend some time thinking about your financial goals. These do not need to be fully defined or detailed. Even general ideas can help guide the conversation. Some individuals reflect on questions such as: What are my short-term priorities over the next few years? What does retirement look like for me, and when might it occur? Are there major life events I want to plan for, such as buying a home or supporting family members? Are there areas of my finances that feel unclear or uncertain? Having a sense of direction can help make the conversation more meaningful and ensure that the discussion reflects what matters most to you. Questions You May Want To Ask An initial meeting is also an opportunity to ask questions and better understand the planning process. Some individuals choose to ask about: How financial planning is structured and what the process looks like How often meetings typically occur What types of services are offered How communication is handled between meetings What information will be needed moving forward These questions can help provide clarity and give you a better sense of what to expect if you choose to continue the relationship. It is also a chance to understand whether the approach aligns with your preferences and communication style. Understanding The Role Of The Conversation For many individuals, one of the most important things to keep in mind is that the first meeting is simply a conversation. It is not a test, and there is no expectation to have all the answers. Financial planning is a process that develops over time, and the initial meeting is just the first step in that process. The purpose is to establish a foundation for future discussions. By sharing information, asking questions, and learning about the planning approach, individuals can begin to build a clearer understanding of how financial planning may fit into their overall goals. Creating A Comfortable Starting Point Feeling comfortable during an initial meeting can make a meaningful difference. Preparation can help reduce uncertainty and allow the conversation to flow more naturally. Even small steps, such as gathering a few documents or thinking through key questions, can make the experience feel more manageable. At Advisors Management Group, introductory meetings are approached as an opportunity to listen, learn, and understand each individual’s situation. These conversations are designed to provide clarity and establish a starting point for ongoing financial planning discussions. Taking The First Step For those considering meeting with a financial planner, taking the first step can feel unfamiliar. However, understanding what to expect and how to prepare can make the process more approachable. An initial meeting is simply an opportunity to begin a conversation about your financial life. With a thoughtful approach and a bit of preparation, individuals can make the most of their time and gain a clearer perspective on their financial picture. Over time, these conversations can help support a more informed and organized approach to financial planning, aligned with your personal goals and circumstances. Contact Advisors Management Group If you would like to discuss your financial goals or have questions about your current strategy, please contact us. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

Life rarely stays the same for long. Over time, careers evolve, families grow or change, and priorities shift in ways that may not always be immediately reflected in a financial plan. While financial planning is often thought of as a long-term process, certain life events can naturally prompt a closer look at how everything is structured. Periods of transition can offer a valuable opportunity to step back, review your current financial picture, and consider whether your plan still aligns with your goals and circumstances today. Financial Planning Is Not Static A financial plan is often built around a snapshot in time. It reflects your income, responsibilities, goals, and resources at that moment. As life moves forward, those elements may change gradually or all at once. Because of this, financial planning is not a one-time event. It is an ongoing process that may benefit from periodic review, especially during times of change. Even small shifts can influence how different pieces of a financial plan work together. Recognizing when to revisit your plan can help ensure that it continues to reflect your current situation. Career Changes and Income Shifts Changes in employment are one of the more common reasons individuals revisit their financial plans. A new job, promotion, career change, or transition to self-employment can affect income, benefits, and overall financial structure. These changes may also influence retirement plan options, healthcare coverage, and savings patterns. During these transitions, individuals often take time to review: Changes in income and how they affect cash flow Differences in employer-sponsored benefits Retirement plan availability and contribution activity Adjustments in short-term and long-term financial priorities These moments can provide a clearer understanding of how income and benefits connect to broader financial goals. Approaching Retirement As retirement becomes more immediate, many individuals begin to take a closer look at their financial plans. This stage often involves shifting from accumulating savings to considering how those savings may support future income needs. It may also include reviewing timelines, expected expenses, and lifestyle preferences. Common areas of reflection during this phase include: Anticipated retirement timing Current savings and account structures Income sources during retirement years Healthcare considerations Rather than focusing on specific actions, this type of review helps individuals understand how their current plan aligns with their expectations for retirement. Business Ownership and Changes For business owners, financial planning can be closely tied to the structure and performance of the business itself. Changes such as starting a business, expanding operations, bringing on partners, or preparing for a transition can influence both personal and business-related finances. These developments may also affect income variability, tax considerations, and long-term planning. During these times, individuals may choose to review: The relationship between personal and business finances Cash flow patterns and financial stability Long-term plans related to business ownership Potential transitions, such as succession or sale These reviews can help ensure that financial planning reflects both personal goals and business realities. Divorce Or Separation Significant personal changes, such as divorce or separation, often lead to a reevaluation of financial priorities. These transitions can affect income, expenses, asset ownership, and long-term planning considerations. They may also prompt individuals to revisit documentation and account structures. During this period, individuals sometimes take time to review: Changes in income and household expenses Ownership and division of assets Beneficiary designations and account information Short-term and long-term financial priorities This process can help individuals better understand their financial position as they move forward. Family Changes and Responsibilities Family dynamics can shift over time in ways that influence financial planning. Events such as marriage, the arrival of children, supporting aging parents, or changes in household structure can all play a role in shaping financial priorities. These changes may affect budgeting, savings goals, and long-term planning considerations. Some individuals choose to reflect on: Adjustments in household expenses Savings goals related to education or family needs Changes in insurance coverage Estate planning considerations These types of reviews help ensure that financial plans continue to reflect the needs of those who depend on them. Relocation or Lifestyle Changes Moving to a new location or making a significant lifestyle change can also prompt a review of financial plans. Changes in cost of living, housing expenses, and local tax considerations may all influence how a financial plan is structured. Even smaller lifestyle adjustments can have an impact over time. During these transitions, individuals may consider: Differences in housing and living expenses Changes in income or commuting costs Adjustments in savings or spending patterns Long-term goals related to lifestyle preferences Understanding how these factors fit together can provide clarity as individuals adapt to new circumstances. Why These Moments Matter Life transitions often bring both challenges and opportunities. While some changes are planned, others may happen unexpectedly. In either case, these moments can create space for reflection. Reviewing a financial plan during a period of change does not necessarily mean making immediate adjustments. Instead, it allows individuals to evaluate whether their current approach continues to align with their evolving goals. By taking time to review financial information, priorities, and documentation, individuals can gain a clearer understanding of where they stand and how their plan supports their direction moving forward. Keeping Financial Planning Aligned With Life Financial planning works best when it reflects real life, not just a fixed set of assumptions. As circumstances change, revisiting your financial plan can help ensure that it continues to align with your current needs and long-term objectives. Even if no changes are made, the process of reviewing can provide valuable perspective. At Advisors Management Group, financial planning is viewed as an ongoing conversation. Life events often serve as natural points to revisit that conversation, helping ensure that each plan remains aligned with the individual circumstances and priorities of the people it is designed to support. If you are experiencing a life transition or simply want to revisit your financial plan, connecting with a financial professional can help provide a structured approach to reviewing your current situation and understanding how it fits into your broader financial picture. Contact Advisors Management Group If you would like to discuss your financial goals or have questions about your current strategy, please contact us. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

Retirement planning is often discussed in broad terms, but many assumptions about it are shaped by incomplete information or generalizations. These misconceptions can influence how individuals think about saving, timing, and long-term financial needs. Taking time to understand some of the more common misunderstandings can help bring clarity to the planning process. Rather than focusing on specific actions, it can be helpful to look at how different factors interact over time and how expectations compare to reality. When Do Most People Start Saving? One common assumption is that retirement planning begins at a certain age, often later in one’s career. In reality, individuals approach retirement planning at many different stages of life, depending on their circumstances, priorities, and financial situation. Some may begin saving early, while others may focus more on retirement planning as their careers progress. Factors such as student loans, housing costs, or career changes can influence when and how individuals begin to prioritize long-term savings. There is no single timeline that applies to everyone. Instead, retirement planning tends to reflect a combination of personal goals, financial resources, and life experiences. Understanding this can help shift the focus away from comparison and toward individual progress over time. How Long Retirement May Last Another area where misconceptions often arise is the length of retirement. It is sometimes assumed that retirement will last for a relatively short period. However, increasing life expectancy has changed that perspective. Many individuals may spend several decades in retirement, depending on when they retire and their overall health. This extended timeframe introduces additional considerations. Planning for a longer retirement may involve thinking about how financial resources are used over time and how different sources of income interact throughout those years. Because longevity varies from person to person, estimating the length of retirement is not an exact calculation. Instead, it is one of several factors that can influence how individuals think about their financial plans. Understanding Income Sources in Retirement Another misconception is that retirement income comes from a single source. In practice, retirement income is often made up of several components. These may include Social Security, employer-sponsored retirement plans, personal savings, or other financial resources. Each source may play a different role depending on the individual’s situation. Relying on one source alone is not always how retirement income is structured. Instead, these elements often work together to support financial needs over time. Understanding how different income sources interact can provide a more complete view of retirement planning. This perspective also highlights that retirement planning is not just about accumulation. It also involves understanding how resources may be used and coordinated throughout retirement. The Role of Inflation Over Time Inflation is another factor that is sometimes underestimated in retirement planning. While inflation may seem gradual in the short term, its long-term impact can influence purchasing power over time. This can affect everyday expenses such as housing, healthcare, and general living costs. Surveys have shown that many individuals view inflation as a significant concern in retirement, as rising costs can influence how far savings may go over time. Because retirement can span many years, even modest changes in inflation may have a cumulative effect. Recognizing this can help provide context when reviewing long-term financial plans. Assumptions About Spending in Retirement Another commonly held belief is that spending decreases significantly in retirement. While some expenses may change, overall spending patterns can vary widely. For example, work-related costs may decline, while other areas such as healthcare, travel, or leisure activities may increase. Research indicates that many retirees report higher-than-expected expenses, suggesting that spending in retirement does not always follow a predictable pattern. Because of this, retirement planning often involves looking at a range of potential expenses rather than assuming a single pattern. This approach can provide a more balanced view of long-term financial needs. Misunderstandings Around Withdrawal Strategies Rules of thumb are often discussed in retirement planning, particularly when it comes to withdrawing savings over time. While these frameworks can provide a general starting point, they are sometimes interpreted as universal solutions. For example, commonly referenced withdrawal approaches are often based on specific assumptions about time horizons, market conditions, and individual circumstances. These assumptions may not apply equally to every situation. Because retirement planning is highly personal, these types of guidelines are often best viewed as general concepts rather than fixed outcomes. Understanding the context behind them can help individuals interpret them more effectively. Balancing Expectations With Reality Misconceptions in retirement planning often stem from simplified ideas about complex topics. Retirement involves a range of variables, including timing, longevity, income sources, and economic conditions. At the same time, individuals may find that their expectations evolve over time. As circumstances change, so can perspectives on retirement goals and financial priorities. Taking a step back to review these assumptions can help create a clearer understanding of how different elements fit together. Keeping the Focus on Long-Term Perspective Retirement planning is a long-term process that develops over many years. Rather than focusing on a single moment or decision, it often involves ongoing reflection and adjustments based on changing circumstances. Understanding common misconceptions can be a useful starting point for these conversations. It can help individuals ask more informed questions and consider how their plans align with their current situation. At Advisors Management Group, financial planning is approached as an ongoing process that evolves over time. As individuals review their financial picture, these discussions can help maintain alignment between long-term goals and the realities that shape them. While retirement planning can feel complex, taking the time to better understand common assumptions can provide valuable perspective. Over time, that perspective can support more informed conversations about financial priorities and long-term planning. Contact Advisors Management Group If you would like to discuss your financial goals or have questions about your current strategy, please contact us. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

During tax season, many households are gathering documents, reviewing statements, and preparing information needed for annual filings. While tax preparation is often the primary focus, the process brings together many pieces of a person’s financial life. Income statements, retirement account records, investment documents, and charitable giving summaries all appear at the same time. Because of this, tax season often becomes a checkpoint for reviewing your broader financial picture. Rather than looking only at numbers needed for filing, it can be helpful to pause and ask a few thoughtful questions about how your financial plan reflects your current situation. Over the course of a year, personal circumstances, priorities, and financial details can shift. Tax season offers a structured moment to revisit those elements and consider whether your financial plan still aligns with where you are today. This type of review does not require immediate changes or decisions. Instead, it is simply an opportunity to reflect on how different parts of your financial life work together. Why Tax Season Is a Natural Time for Financial Review Throughout the year, financial information often lives in separate places. Pay stubs, investment statements, retirement account updates, insurance documents, and household budgets may be reviewed at different times or not at all. Common Tax Preparation Documents Forms such as W-2s, 1099s, mortgage interest statements, and retirement contribution summaries provide a snapshot of income, savings, and financial activity from the previous year. Seeing these items side by side can help provide a clearer picture of how different financial components interact. For many people, this process prompts broader questions about progress toward long-term goals, the structure of current accounts, and whether existing plans still reflect current priorities. Looking at Cash Flow and Spending Patterns One useful starting point during a financial check-in is reviewing cash flow. Tax documents typically show the income received during the year, but they can also prompt a closer look at how money moved through a household over time. Examining bank and credit card summaries alongside tax records can provide helpful context about spending patterns. Questions that sometimes come up during this process include: Has household income changed during the past year? Did spending patterns shift due to life events or changing priorities? Are savings contributions occurring regularly? Are there areas where spending increased or decreased compared to previous years? The goal of this exercise is not to critique spending choices but to understand how day-to-day financial activity connects to long-term goals. Many people find that simply reviewing the flow of income and expenses helps clarify where they stand financially. Checking Retirement Contributions Retirement accounts are another area that often receives attention during tax season. Contribution records frequently appear on tax forms or supporting documents, making it easier to see how much was saved during the previous year. Reviewing these contributions can help provide perspective on how retirement savings are progressing over time. Some individuals review the following items during this part of the check-in: Employer-sponsored retirement plan contributions Individual retirement account (IRA) deposits Employer matching contributions Changes in contribution amounts compared to previous years Looking at this information does not necessarily mean making adjustments. Instead, it offers a moment to see how retirement savings activity fits within the broader financial picture. Because retirement planning often unfolds over many years, periodic reviews can help individuals stay aware of how their savings efforts develop over time. Reviewing Beneficiary Designations Another important but sometimes overlooked part of a financial plan involves beneficiary designations. Accounts such as retirement plans, life insurance policies, and certain investment accounts typically allow the account holder to name beneficiaries who would receive the assets in the event of the account holder’s passing. These designations can carry significant importance in estate planning. Life circumstances can change gradually, and beneficiary designations may not always receive regular attention. Tax season can provide a practical reminder to review these records. Some individuals choose to confirm: That beneficiary designations are still current That contact information for beneficiaries remains accurate That designations reflect current family structures or intentions This type of review simply ensures that important documentation continues to reflect a person’s wishes. Considering Long-Term Financial Priorities Financial plans are often built around long-term goals such as retirement, supporting family members, charitable giving, or preparing for major life transitions. Over time, priorities may shift as circumstances evolve. Tax season can provide a moment to revisit those goals. For example, someone might reflect on questions such as: Have my long-term financial priorities changed in the past year? Are there upcoming life events that may influence financial planning? Does my current plan still reflect the direction I want to move financially? These reflections do not necessarily lead to immediate action. Instead, they help ensure that financial planning remains connected to personal values and long-term objectives. Looking Beyond the Tax Filing While filing taxes is often the main task during this time of year, the process can also serve as a broader financial checkpoint. Reviewing income, savings, and documentation together may highlight areas that deserve additional attention later in the year. For some individuals, the tax preparation process simply reinforces that their current approach continues to support their goals. For others, it may reveal areas they want to explore further in conversations with financial professionals. In either case, taking a moment to review the larger picture can provide clarity. Keeping Financial Planning an Ongoing Process Financial planning is not limited to a single time of year. Circumstances change as careers evolve, families grow, and long-term plans develop. Regularly reviewing financial information can help individuals stay aware of how those changes fit within their broader strategy. Because many financial documents are already being reviewed, it becomes easier to step back and consider how different parts of a financial plan connect. A brief annual check-in can help maintain awareness and encourage thoughtful conversations about financial priorities. At Advisors Management Group, these types of discussions are part of the broader planning process. Taking time to review financial information, goals, and documentation together can help support alignment between a financial plan and each client’s evolving circumstances and long-term objectives. Each year, tax season brings an opportunity to gather documents and review your finances. Beyond filing your return, it can also be a practical time to revisit your financial plan and consider your next steps. Contact Advisors Management Group If you would like to discuss your financial goals or have questions about your current strategy, please contact us. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

The tree is trimmed, and the stockings are hung by the chimney with care. Children and investors are both waiting to see what Santa has in store for them this holiday season. The term Santa Claus Rally dates back to 1972 when the term first appeared in the Stock Trader’s Almanac, but what is this phenomenon and how might it affect you? Seasonal Patterns The week of Christmas may be one of the more notable times to keep your eye on the market, however it is not the only time you may see the market trend either up or down. Performance of NYSE Composite, Nasdaq 100, and S&P 500 indices all report some of the strongest performance over the past 20 years in April, July, and November. On the other hand, January, February, June, and September rank as some of the worst times for performance. December fails to be mentioned despite the common occurrence of a late December rally. While the market often experiences a lift near Christmas, the Santa Clause rally does not always mean that the market will end with a positive return for the year. What Drives Santa’s Sleigh It is not a team of reindeer pulling the market upwards the week of Christmas, but there are factors that contribute to the pop in the market that can occur in December. Holiday spending can be a major driver. Strong Black Friday and Cyber Monday sales can give companies an end of the year revenue increase resulting in increased stock price. Some investors may feel encouraged by what the new year will bring while others may just be feeling extra jolly with holiday cheer. Money changes hands quickly as people receive bonuses or gifts of money. Some investors are looking to do last minute tax planning and ranging from tax loss/gain harvesting and tax-deductible contributions. All of this can drive money into the market contributing to the Santa Claus Rally. While consumers may be moving more money around, professional traders and other financial professionals may take time off resulting in low trading volume. When less people are selling stocks and bonds, and more people are buying and spending, the market tends to respond positively. When Santa Leaves Coal While there is not a reliable way to predict what is in store for the market, a Santa Claus rally can be a positive sign for the coming year. While there have only been six times that the Santa Clause rally did not come since the mid 1900’s, in those scenarios, January was lower 5 of those 6 times. A lack of a Santa Claus rally can be viewed as a bad omen to those who study the market. A Word on Market Timing Since we spent some time talking about seasonal trends, it is important to remind investors that market timing only accounts for a small portion of returns. Instead of timing the market, investing for the long term, buying at low prices, and selling at high prices coupled with proper diversification and managing risk can result in better longer term returns than trying to time the market. A trusted advisor can guide your strategy to make sure that your investment strategy is appropriate for you. Not sure where to turn? Our team of advisors can help tailor a portfolio to meet your individual planning needs. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

When we leave home or college as young adults, the process of getting financially stable can be daunting. Establishing good habits from the get-go can be the difference between thriving financially or struggling. No matter how much money you have, there are things you can do to set yourself up for success. As your financial situation continues to become more stable, continuing your good habits will help you to pass through the phases of wealth accumulation and beyond. Expect the Unexpected When times are tight, something as simple as a flat tire or medical bill can be really a difficult storm to weather. If you are getting started, building an emergency fund is so important, but often feels daunting. It is recommended that you should have enough cash in your savings to cover 3-6 months of expenses. If that isn’t an option, you can start small. Work towards getting $500 in your savings and don’t touch it. When you have $500, try to save another $500 to get your account to $1000 and so on. Avoid using credit cards to pay for emergencies, unless you can pay the bill off right away. Mindset Matters Having the wrong money mindset can be costly. Be proactive about your finances. Set goals and evaluate your progress. Take responsibility for yourself and your situation. Understand that Rome was not built in a day and neither is wealth. However, taking small steps in the right direction can have big results over time. Don’t wait until you can afford to save, rather save what you can afford. Avoid comparing your finances to everyone else’s. Instead monitor your progress and celebrate your successes. Avoid instant gratification, which can lead to overspending and racking up debt. Instead plan for purchases and buy what you can afford. Pay yourself first by allocating your savings first and then live within your means with what is left. As your income increases, up your savings first then allow for increased spending with the remaining amount. Target to save 15-20%. If you can’t right away, don’t get frustrated, just increase a little each year until you get there. Credit Crunching Credit scores are based upon multiple factors including the types of debt (mortgages, installment, revolving lines of credit such as credit cards) and payment history. Credit scores range from 300-850 on the FICO system. Scores between 670-739 are considered Good, scores between 740-799 are Very Good and scores above 800 are Exceptional. If you find yourself below 670, don’t panic, instead look for ways to improve your score by paying on time, paying down credit cards or getting credit experience that you don’t already have. People do recover from mistakes, but it is important to address credit situations right away before it stops you from making a necessary purchase such as a car or home. People underestimate the importance of ongoing credit monitoring. Your credit score follows you everywhere. Not only do you want to do things that add up to a good credit score, but you also want to make sure that it is being reported correctly. Consider getting a copy of your credit report annually and make sure that things look correct. Consider signing up for free credit monitoring through the credit reporting agencies. There are free and paid subscriptions that help you to monitor your credit activities, get alerts about suspicious activities and get tips about increasing your credit score. Get a Pro on Your Team You may be wondering when you should consider meeting with a financial advisor. People in all stages can benefit from working with a financial advisor to set goals, implement savings strategies and monitor the progress of your plan. If you are ready to get started, reach out to our team of trusted advisors today. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

This is a common question related to retirement and retirement planning, and the answer might surprise you. While most people assume there is a magic account balance, for example one million dollars, that is not the case. The truth is that people retire comfortably with all different account balances because every situation is unique. Let’s look at factors that contribute to your retirement needs.  Spending Need Everyone’s spending needs are different. If you plan to retire with no debt and minimal monthly expenses, you may need less than someone who has a larger spending need. For those with minimal spending, Social Security may cover a good amount of their spending need allowing for minimal dependence on retirement savings. On the other hand, if your monthly spending needs are large or you anticipate travel or big-ticket discretionary spending, you will need to have more money available. Ask yourself what you would like your retirement to be like, what expenses you will likely bring into your retirement and what you envision your lifestyle to be like.  Replacing Income If the idea of living without your 9 to 5 paycheck causes you to feel stressed, you are not alone. When you start retirement, you will need to replace your paycheck with other sources. For most people, Social Security will be the base portion of your retirement income. According to the Social Security Administration, on average, Social Security payments will replace about 40% of your income. If you have lower income, this number will be higher, but if you have higher income, this amount will be closer to 25-35%  Anything that Social Security does not cover can be supplemented by your savings. IRAs, 401ks, Roth IRAs and non-qualified assets can be used to create a stream of income that becomes your paycheck in retirement. A professional financial planner can help to navigate how to spend your money to avoid spending it too quickly or paying too much in tax.  Pensions While only an estimated 15% of employees work for a company or entity that offers a pension, certain professions such as those in skilled trades, education or government likely offer a pension. If you are one of these workers, you will likely retire with less money in investments than your neighbor who works in the private sector. If you have worked in this industry for most of your career, you may have significant income that is not dependent on your personal savings. You may need far less money in savings to retire comfortably if you have a pension. The Case for Financial Planning The ins and outs of retirement planning can feel overwhelming. Financial planning can give you a look into the future and help you shed some light on your retirement future. There are a lot of factors that come into play when it comes to determining how much money you will need to save for retirement, and it is not a universal answer. It is easier to adjust your strategy earlier, then make compromises to your lifestyle later.  You do not need a lot of money to benefit from a financial plan; however, it can be the difference between having a comfortable retirement or not. Not sure where to turn? We can help. Contact us today to start planning for your retirement future.    Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin.   Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security.  Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses.  Please do not send orders via e-mail as they are not binding and cannot be acted upon.  Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation.  This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services.  Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.  A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

They say father knows best. In honor of Father’s Day, we’ve asked our on-staff dads to share their best money advice for kids of all ages. Tyler, our newest dad and the manager of our Tax Department, says that you should be sure to have an emergency fund. Having money set aside for a rainy day can help you out if you have an emergency or unexpected expense. It is recommended to keep at least 3-6 months’ worth of your expenses tucked aside, but if that seems impossible, start small. Even $500-$1000 can really save you in a pinch. Once you’ve saved your $500, try to double it, then double it again. Before you know it, you will have a good amount of money to fall back on. Adam, the head of our Business Consulting Team, says that money doesn’t grow on trees. It does, however, grow in other places. If you want to have wealth, you need to be smart about how you spend your money and create a plan to grow your wealth. Whether it is a personal financial plan to help you save for the long term, or a business plan to help your business succeed, it’s important to get a plan down on paper and execute it. Warren, COO and Investment Advisor Representative gives the advice that as soon as you can afford to invest, you should do so. If you have a retirement plan at work, you may be eligible to receive a matching contribution from your employer. Even a small amount of money saved on a regular basis can really add up over your working years. The money you save as a young person has the most opportunity to compound overtime. People who invest younger, typically have a larger nest egg than those who wait until later to invest. Nick, of our Investment Advisory team encourages you to spend less than you make. Pay yourself first and don’t succumb to the pressure to buy the latest and greatest cars, electronics and other material things. Society puts a lot of pressure on people to be consumers and spend money on things that are not necessary. These pressures can lead people to live outside their means and accumulate crippling debt. Last, but not least, Shay, head of our trading department, reminds you that money isn’t everything. Just because you have a full bank account or lots of material things doesn’t mean you are happy. Some of the best things in life can’t be bought at all. Cherish your time with family and friends and focus on creating meaningful memories instead of worrying about what you have or don’t have. On behalf of the staff at AMG, we wish dads everywhere a Happy Father’s Day! Make the most of your special day.   Rebecca Agamaite Investment Advisor Representative  Rebecca joined the firm in 2011 as an Investment Advisor Representative. In this role, she works with clients to manage their investment assets and help them obtain their financial objectives. Rebecca brings a great deal of experience to the team having worked for several years at Marshall & IIsley Bank and MetLife. She earned a Masters of Business Administration degree (with an emphasis on finance) from Concordia University. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin.   Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security.  Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses.  Please do not send orders via e-mail as they are not binding and cannot be acted upon.  Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation.  This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services.  Any subsequent, direct communication by AMG  with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.  A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

If you were to become suddenly very sick or to pass away unexpectedly, would your loved ones know what to do? It is not a pleasant thought, but it is important that you think about how you want your life, and your affairs handled if you cannot take care of them yourself. We tend to think about the obvious things such as wills, trusts and power of attorney forms, but sometimes we procrastinate going to an attorney to get them. There are things you can do in the meantime to protect yourself and your family if life takes an unexpected turn of events. Medical Matters When you visit your doctor or hospital, fill out forms such as Power of Attorney for Health Care, Advanced Directives and Living Will forms. These forms communicate with your care providers who can share medical information with and establish your wishes. Be sure to list your emergency contact people. Do note that the forms you fill out are only valid in that healthcare system. If you seek medical care elsewhere, they will not honor your forms. Financial Matters Visit your bank, financial advisor and any other financial institutions. Consider adding a beneficiary to any account that does not currently have one. Be sure that any existing beneficiary designations are current. Adding a beneficiary means that your accounts will pass directly to the person listed, and the money won’t be part of the estate or go through probate.  This can simplify things for your loved ones in the event you pass away. Most financial institutions will allow you to put Power of Attorney (POA) on your accounts without establishing formal POA documents with a lawyer. Much like the forms you fill out at your healthcare provider, putting POA on your accounts will only allow your designated person to make transactions for the accounts with POA designation. These are not general forms that will allow you to act as POA everywhere. Rather they are limited to the accounts that have this designation. Real Estate Check with your local Register of Deeds to see if your state allows for transfer of your home or other real estate to a beneficiary. While some states offer Transfer on Death, others offer a similar offering called a Lady Bird Deed. Your state may have specific rules or fees involved, so it is important to research how this works in your state. It’s also important to mention that if you are transferring property or other assets due to needing long-term care, you should consult an elder law attorney and understand how this may affect your future. Other Important Details Talk to your loved ones about how you would like things handled if you were to become sick or pass away unexpectedly. Jot down your wishes and leave a list of places where you bank, have investments, your health care provider and other important details so that your family knows what to do. While it is important to talk about the obvious things like your preference on hospitals or funeral homes, it is also important to talk to them about things they may not have considered. This is different for everyone, but it can be anything from how to care for your pets, your clergy person who should be called, or perhaps it is songs, poems or readings you would like included in your memorial service. While it is always best to have proper legal work such as wills and powers of attorney documents in place, it is possible to do things that help you be prepared for unexpected illness or death right away with little to no cost. It is still important, regardless of your age or amount of wealth accumulated, to meet with an estate attorney to customize an estate plan that meets your needs.   Rebecca Agamaite Investment Advisor Representative  Rebecca joined the firm in 2011 as an Investment Advisor Representative. In this role, she works with clients to manage their investment assets and help them obtain their financial objectives. Rebecca brings a great deal of experience to the team having worked for several years at Marshall & IIsley Bank and MetLife. She earned a Masters of Business Administration degree (with an emphasis on finance) from Concordia University. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin.   Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security.  Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses.  Please do not send orders via e-mail as they are not binding and cannot be acted upon.  Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation.  This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services.  Any subsequent, direct communication by AMG  with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.  A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

February is the season of love and it’s no secret that many Americans love their pet. What you may not know is that owning a pet can cost tens of thousands of dollars over the life of the pet. For those considering becoming a pet parent, you need to consider affordability and the ongoing costs. If you are already a pet parent, consider the costs that need to be part of your monthly budget. Acquisition Costs If you are considering getting a pet for your family, there are some upfront costs that you should be prepared for. Whether you purchase or adopt, you will surely have some costs to bring home your new pet. While these vary based upon the size or variety of pet, expect pay adoption fees, to have an initial vet visit, purchase food, toys, crates and other necessities. The ASPC estimates the average initial cost for getting a cat is $455 and $1030 for getting a dog. This is above and beyond the initial cost of your pet. Necessities For Your Furry Friend It goes without saying that if you have a pet, you will have a line item in your budget for ongoing expenses. TotalVet.com reports that the price of dry and wet pet foods has increased 45.5% from 2020 to 2024. That equates to over $20 per 40lb bag. This increase in feeding pets has caused an increase in in the number of pets surrendered to shelters according to The Humane Society of the United States. If you have an older or younger pet, you may need to budget for specialized expenses such as extra vet visits, medications or daycare/boarding. Some pets are more susceptible to certain medical conditions, while others require regular trips to the groomer. All these details factor into what you can expect to pay monthly to care for your pet. Is Pet Insurance Worth The Hype? Pet insurance is gaining a lot of market share, and you may be wondering if this is something you should consider. It can be easy to assume that it works just like your health insurance, but pet insurance policies can vary greatly in coverage and expense. It is important to understand what it covers, what exclusions apply and the costs of both the premium and out of pocket costs that would apply if you used it. Most plans will reimburse 70-90% of your bill after you have met a deductible, however you will still need to pay for your vet bill upfront. Pre-existing or elective procedures may not be covered at all. While you may think that all the caveats of pet insurance make it an automatic “no”, do consider that emergency vet care can run thousands and can be a life-or-death situation. Many pet owners report going into debt to save their pet. It is about balancing cost and peace of mind when it comes to the decision to buy pet insurance. Weighing Out Benefits vs. Cost While owning a pet may seem like a huge cost, there are benefits. Having a pet is shown to help people to be healthier and more active. Pets reduce stress and encourage you to be more social. People who own pets have routines and tend to be more responsible. Pets can be great for your mental health, reducing stress and loneliness and giving your life purpose. You simply cannot put a price tag on the joy of pet ownership.   Rebecca Agamaite Investment Advisor Representative  Rebecca joined the firm in 2011 as an Investment Advisor Representative. In this role, she works with clients to manage their investment assets and help them obtain their financial objectives. Rebecca brings a great deal of experience to the team having worked for several years at Marshall & IIsley Bank and MetLife. She earned a Masters of Business Administration degree (with an emphasis on finance) from Concordia University. Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin.   Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security.  Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses.  Please do not send orders via e-mail as they are not binding and cannot be acted upon.  Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation.  This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services.  Any subsequent, direct communication by AMG  with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.  A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.