Saving for college may seem like it starts as soon as you learn about a new addition to the family. With all the discussions about 529 plans to invest in future educational expenses, recent changes have actually made things better, for the most part.
In this episode, Tony Luckhardt, MBA, CFP®, CRPC®, discusses changes to rules around 529 accounts and how they relate to saving for college, and maybe even retirement expenses. He explains the basics of 529 plans, including their tax advantages and options for unused funds.
Tony shares more about:
How the Secure Act 2.0 plays into this saving strategy
A new provision that allows for a rollover of funds from a 529 account into a beneficiary’s Roth IRA
In a world where uncertainty lurks around every corner, humans have an innate desire to predict the future, particularly when it comes to things that may impact them negatively. Economic forecasting is one such endeavor, attempting to navigate the complex currents of financial markets and emerging economies.
In this episode, Luke Hail, MBA, CFP®, and Ryan English, MBA, CFA, CPA, CFP®, discuss the value of forecasting when it comes to the economy and the stock market. Drawing parallels to our primitive instincts, they delve into the desire to foresee economic developments that could either benefit or harm us.
Luke and Ryan share more about:
The difference between economic forecasting and stock market forecasting
When the tax deadline looms near and you find yourself in need of more time to complete your return, what steps should you take? It’s a common situation; about 12% of tax returns filed each year are extended! Maybe life got busy or perhaps you have a complicated financial situation and find yourself waiting on forms needed to file your return. Either way, there’s no need to stress! Tax extensions are available for a reason, and navigating them isn’t complicated.
In this episode, Emily Diaz, MAcc, CPA, CFP®, explains that a filing extension provides an extra six months to file taxes, but it does not extend the deadline for paying taxes. She emphasizes the importance of paying taxes on time to avoid interest and penalties, and how simple the extension form is.
Emily shares more about:
The simplicity of filing for an extension
How obtaining an extension can improve the accuracy of your return
Emily joined Foster & Motley with a CPA background, but her interest in client service can be traced back to her high school days when her mother, also a CPA, asked Emily to help a client straighten out their bookkeeping. Emily loved using her analytical and financial skills and developing a relationship with the client to solve problems together.
Soon after, Emily declared a major in accounting and graduated summa cum laude from Grove City College (PA) in 2013. She went on to earn her Master of Accounting degree from The Ohio State University in 2014. Upon graduating, she entered public accounting, joining Plante Moran’s tax team and obtained her CPA license. After exploring corporate and non-profit tax, Emily found her passion in serving individual clients, especially high net worth families.
As a Financial Planner at Foster & Motley, Emily draws on her tax expertise and experience with individual clients and families. While Emily has always enjoyed diving into details, she also thrives on looking at the big picture and figuring out how all the pieces come together to meet the client’s financial goals.
When not in the office, Emily can be found running, cooking, or swimming. She is also actively involved at her church and enjoys traveling internationally. At present, Emily lives with her husband, Dan, in Mason.
What is Property & Casualty Insurance and how do I make sure I have the right Coverage? With Rachel Rasmussen, MBA, CFA, CDFA®, and guest, Erin Blevins
Not all insurance plans are created equal, which is why having the right partner matters.
In this episode, Rachel Rasmussen, MBA, CFA, CDFA®, is joined by Erin Blevins from Oswald Insurance to dive into property and casualty insurance specifically. They discuss how to make sure you have the right coverage for your situation and the importance of planning for unknown risks.
Erin also shares about:
The difference between market value and replacement value in home insurance
The importance of umbrella coverage
Considerations you need to make when looking to purchase a home in a weather rampant area
Why insurance is necessary outside of legal requirements
The information discussed and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Foster and Motley. The content has been made available for informational and educational purposes only and is not intended to be a substitute for professional financial advice. Keep in mind that rules and regulations are subject to change. Always seek the advice of your financial advisor or other qualified financial service provider with any questions regarding your financial planning and investments. Foster and Motley is not affiliated with any third-party providers. Any mention of a third-party provider does not imply an endorsement of that provider. If you decide to utilize a third-party provider, you do so at your own risk.
About Our Guest:
Erin Blevins joined The Oswald Companies in early 2016 with more than 20 years of experience in Personal Risk Management in the affluent space. She has an extensive focus in Business Development and Relationship Management. In addition, has developed a specialized niche dedicated to high-profile clientele and multi-generational families.
EDUCATION AND PROFESSIONAL AFFILIATIONS
Erin attended Ball State University and The University of Cincinnati with a focus in Business Marketing. Erin has earned her Certified Insurance Services Representative (CISR) designation and is currently pursuing an additional designation as a Chartered Private Risk and Insurance Advisor (CPRIA). She has studied with various insurance carriers to complete sales and service training to provide exceptional service to her clients. Erin also serves on the board for her community’s youth football organization.
Are you curious about the role of bonds in an investment portfolio and how they react to economic shifts?
In this episode, Thom Guidi, CFA, and Sarah Conwell, CFA, delve into the crucial lesson of incorporating bonds into your investment strategy and what the benefits are. While bonds serve as a protective measure during bear markets and deliver a consistent income stream that is less influenced by economic and stock market risks, there are no gaurentees. In 2022 both stocks and bonds faced challenging times. Join us as we explore what happened and why bonds reacted the way they did.
Have you thought about supporting your children in purchasing their first home? With the increasing interest rates, there is a growing trend of parents stepping in to provide assistance with down payments or initial purchases.
In this episode, Joe Patterson, CFP, delves into the burgeoning trend of family loans and examines the various strategies parents can employ when considering this option to offer support.
Joe shares more about:
The rising cost of housed and the challenges of affordability for younger buyers
Strategies to provide assistance to your children while fostering their independence
Effective approaches for structuring loans when supporting your children
Key considerations when contemplating monetary gifts for your children
Joe Patterson remembers as a child going with his father, an estate planning attorney, to visit clients, many of whom were in chaotic or isolated situations. His father drilled into him that being there for people with integrity and consistency wasn’t just part of the job, but was what you built a career on.
Joe values face-to-face interaction and relationship building more than anything else, and he often does it with a laugh. After a ten-year career with other institutions, he knew that the unique approach of Foster & Motley, pairing an investment manager with a financial planner, would allow him to have more of the real conversations that lead to organized and holistic outcomes.
Joe became a shareholder in 2017 at Foster & Motley and finds a lot of purpose and inspiration in the long-term vision of the firm. He is also in charge of human capital at Foster & Motley, and he oversees employee matters ranging from benefits and hiring to planning fun, team-building events for our staff. At Foster & Motley, relationships with clients are the most important aspect of anyone’s work, and Joe knows that the wellbeing and happiness of his colleagues contributes to successful client relationships. Helping to provide a positive and engaging environment is right up his alley.
Joe and his wife Sarah have prioritized exposing their sons, Peter and Tate, to different cultures and experiences. One such experience was a trip to Spain, and they plan on undertaking many more small and large adventures with their family.
It is not lost on Joe that in any situation, whether with his family or in his work, getting face-to-face and having real interactions is always the first step to helping others.
We are traveling around the world with the individuals of Foster and Motley!
Join us as we traverse the globe, guided by the insights of Zach Binzer, CFP®, Niki Williams, Joe Patterson, CFP®, Rachel Rasmussen, MBA, CFA, CDFA®, Nick Roth, CFP®, Sara Young, CFP®, Zach Horn, MBA, CFP®, CMFC®, Tony Luckhardt, MBA, CFP®, CRPC®, and Betsy Wolking, MSM.
In this episode, a few of the employees at Foster & Motley transport us to their most cherished vacation destinations. From the enchanting landscapes of Spain to the cultural wonders of Cambodia and Thailand, team members share their personal anecdotes and unveil the essence of what made these voyages truly extraordinary.
The team shares about:
Unforgettable moments that will forever hold a place in their hearts
The remarkable impact of good company, elevating the entire travel experience to new heights
Key destinations they explored, inspiring you to add them to your own bucket list
In a world where tapping your phone on a credit card machine is the norm, it can be hard for kids to grasp and truly understand the value of money but, it’s important to teach them about money, and how to prioritize saving, spending, and giving so they have a healthy relationship with money as they get older.
In this episode, Rachel Rasmussen, CFA, CDFA®, and Tony Luckhardt, CFP ®, CRPC®, discuss the importance of teaching children good money habits at any age. It’s never too early or too late to start.
Tony and Rachel share more about:
Introducing financial topics to young children and how that message can evolve as they get older
How sharing your own financial successes and failures can help inform their decisions
Why talking about money now can prevent problems later
As you prepare to venture out into the world, it’s time to embrace real responsibility. Regardless of your current situation, taking the initiative to get essential estate planning documents is a crucial step for any young adult.
In this episode, Nick Roth, CFP®, emphasizes that turning 18 brings about a significant shift in legal recognition, with newfound responsibilities and limitations that may catch some individuals off guard.
Nick shares more about:
The four estate planning documents that every adult should have in place The reason for having estate planning documents in place at an early age
Born and raised in Cincinnati, Nick found a passion for the city and its people. He grew up on the west side where he developed a strong work ethic from his father, who owns and operates his own CPA business. Nick was brought up seeing what true client service is and that translated into finding the perfect fit at Foster & Motley where the client comes first.
Since he was young, Nick knew he wanted to be involved in wealth management. He purchased 5 shares of P&G stock when he was 13 and has been eager to learn more about the markets ever since. His desire for learning doesn’t stop there. During his time at the University of Cincinnati studying finance, he also engaged in other activities, including completing minors in Spanish and Information Systems, studying abroad 3 different times (on three different continents), and joining multiple honors programs/societies to further his education outside the classroom. Nick graduated from the Lindner College of Business magna cum laude in December 2017.
In addition to his career ambitions, Nick is heavily involved with his alma mater, Elder High School. As a member of the Alumni Board, he helps with fundraising efforts, organizing alumni events, and helps graduates stay connected to the school. He is also an avid bowler and enjoys coaching the sport. After bowling himself for 4 years in high school, he joined Elder’s coaching staff and began coaching the Junior Varsity team the year after he graduated. On a personal level, he regularly competes in tournaments and has placed as high as 4th in individual tournaments around Cincinnati.
In his free time, Nick enjoys relaxing with his friends, playing a round of golf, or researching his next travel opportunity. His next bucket list destination is Brazil, and his goal is to get there in the next couple of years.
You’ve taken care of your will, power of attorney, and established a trust, but there is one more document you should consider as you think through your estate plans: a family letter.
In this episode, Zach Horn, MBA, CFP®, CMFC®, emphasizes the significance of having a family letter as a supplement to your estate planning documents. A family letter can provide a personal touch to your last wishes and simplify the process for your loved ones.
Zach delves into several key topics, including:
How this letter can serve as a “catch-all” by containing personal contacts, passwords, healthcare information, and general financial account information
The benefits of having your personal information organized and accessible for your family
How Foster & Motley can provide a template for the family letter, organized for ease of use and to ensure all necessary elements are included – Download your template here.
Zach Horn, MBA, CFP®, CMFC®, knows that a plan communicated in a language people can understand, no matter how complex it might actually be, is possible in every situation and serves everyone involved in the best way possible. Zach has built many client relationships that are more like friendships and go beyond the normal aspects of planning and management. And that’s just the way he wants it.
Zach has a Bachelor of Business Administration degree in Finance from Ohio University and an MBA degree in Finance from Xavier University. Before joining Foster & Motley, Zach worked for Ameriprise Financial, Inc. as a financial advisor in Columbus, Ohio. He joined the firm in 2007 as the Securities Trader and a member of the investment team. Zach obtained the CERTIFIED FINANCIAL PLANNER (CFP®) and Chartered Mutual Fund Counselor (CMFC®) designations in 2012. He is now an Investment Manager and shareholder.
In addition to his duties as an Investment Manager, Zach is also the Managing Partner and President of the Board. In this role, Zach focuses on the long-term vision of Foster & Motley and how the day-to-day operations support that vision. His communication skills and initiative help keep our team focused, open-minded to change, and collaborative.
Zach lives with his family in Mason, Ohio. He enjoys sports of all kinds, but especially coaching his sons in baseball and basketball. In 2020, Zach was included in Cincinnati Business Courier’s Forty Under 40 class which recognizes the next generation of leaders and innovators in Greater Cincinnati. He recently joined the board of directors for the Ohio Valley Goodwill. Zach was impressed with the scale of the organization and their mission of helping those with disabilities and other challenges gain employment in the community and wanted to be part of its success.
