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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.

Did you make New Year’s Resolutions? If you did, you are in great company. Approximately three out of every ten Americans make resolutions. Goals related to saving money, eating healthier, and exercising more are the most common areas of focus. The bad news is that as January passes, most will fizzle out and forget about their intention. While New Year’s Resolutions are a great idea, it can be frustrating to have another year pass without making any headway. We’ve compiled a few ideas for sustainable financial goals that can help you save more money and establish habits that will help you to grow your personal wealth. Expect the Unexpected People really underestimate the power of having cash that is easily accessible to use when things pop up. An unexpected illness, car repair or other emergency could have you reaching for your credit card without a plan to pay it off. It is a good idea to keep at least three months’ worth of living expenses in savings. If you do not currently have cash reserves, set a small goal. Work on saving $1000, then when you have that, keep going until you have one month’s reserves. Once you have enough for one month’s expenses, work towards two months of expenses. Before you know it, you will have enough cash to avoid a financial calamity if faced with the unexpected. Check your Spending Do you have automatic charges for apps, websites or streaming services? It’s a great idea to take inventory of these types of pay services. If you don’t use them enough to justify the ongoing cost, cancel them. Be aware that some memberships and apps renew automatically. Be aware when they are set to bill again and cancel them before they automatically renew. Are there other places you could avoid overspending? Whether it is making coffee at home, bringing your lunch, or shopping out your home and auto insurance, it is a good practice to know how your money is spent and eliminate spending that doesn't provide value to your lifestyle. Freeing up cash flow can give you more money to do things that matter to you. Checkup on Savings The beginning of the year is a great time to evaluate your savings. The new tax year may mean opportunities to increase savings in your IRA, Roth IRA and Employer Sponsored Plans. For 2025, IRA and Roth IRA limits remained the same, however 401k limits were increased from $23,000 in 2024 to $23,500 in 2025. If you reach age 50 in 2025, you will be able to take advantage of catch-up contributions. IRAs and Roth IRAs allow for an additional $1,000, while most employer plans (401k, 403b, and 457 allow for an additional $7,500. New in 2025, participants who are ages 60-63 and will not reach their 64th birthday are eligible for an even larger catch-up. Even if you cannot afford to maximize your contributions, there are still opportunities to improve your long-term savings strategies. Aim to save 15% of your wages in retirement. If you are below that, increase your savings by 1 or 2% annually until you reach 15%. Know that most people started small and increased savings over time and small changes can really add up.  Make (or update) your Plan According to Schwab’s 2024 Modern Wealth Survey, only 36% of people have a written financial plan. While you may not have given formalized planning any thought, having a plan can help you know what to save, how to create tax efficiency, plan for inflation and give you an idea of what your money might be worth at retirement time. It’s important to get on top of your future well in advance. Most people don’t plan to fail in retirement, they fail to plan for retirement. If you have a formalized plan in place, congratulations! You are ahead of the game. Regular reviews and updates to your plan will show your progress and allow you to make changes as you go. Not sure where to start? Our team of trusted advisors can help you to set your goals and monitor your progress. Contact us today to get started.   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.

The leaves have all but fallen and there’s frost on the pumpkins. The costumes are tucked away and most of us have eaten all the candy. While it’s tempting to deck the halls and turn on the cheesy holiday movies, we invite you to pause a moment and take in all that Thanksgiving has to offer this November. Here are our best tips for making Thanksgiving memorable and affordable this year. Exercise Gratitude As financial planners, we spend a lot of time talking to people about saving and wealth accumulation. While this is important, it is also important to take time to be thankful for the blessings in our lives. It is easy to take things like food, shelter, health, family and friends for granted. Take time this Thanksgiving to ask kids and elders what they are thankful for. The answer may surprise you. Not all wealth can be tallied up on your balance sheet. Organize A Plan To Give Back During The Holiday Season Thanksgiving is a great day to focus on giving back. For some, this may mean planning to donate gifts to those in need. For others, this may mean donating time ringing bells or serving meals at a local shelter. Think outside the box for ways to make a big impact. Consider bringing a meal or holiday treat to an elderly neighbor or organizing a caroling event for those in a nursing home. Take a moment this Thanksgiving to determine a way to give back. Remember that there are plenty of ways to impact your community without spending money Thanksgiving is a great time to plan out monetary gifts for the holiday season and beyond. For those retired and needing to take a Required Minimum Distribution from an IRA, you may have an opportunity to do a Qualified Charitable Distribution. Be sure to speak to your trusted advisor to see if this is right for you. Money Mindfulness Thanksgiving is the kickoff to the season of spending. The coming weeks will be filled with shopping, baking, entertaining and all things merry. Understanding how this will affect your budget can help you not only be less stressed during the season, but less stressed in January when the bill comes. Get off on the right foot by starting strong with Thanksgiving. Look for ways to save on your holiday gatherings by stocking up on non-perishable items or items with a longer shelf life when you see them on sale. Compare the specials at different stores and substitute store brands when possible. If you typically throw away leftovers, make a smaller meal or avoid waste by sending to-go containers with guests. If your guests ask if they can bring something, say yes. They are usually thrilled to help, and this can take pressure off hosting a gathering. Black Friday Basics While the deals for Black Friday, Cyber Monday and Travel Tuesday seem to show up early, some people love to plan out gift giving on Thanksgiving. When it comes to gift giving, set a budget and stick to it. Be aware of Black Friday deals. Not all deals are truly a deal. Sometimes price leading items are meant to entice shoppers into the store. Be aware that retailers may have overpriced items placed strategically near the deal. Make sure that it’s not impulse. Look for good deals on name-brand quality items. Make a list of people you want to buy for and include how much you want to spend. Using gift cards is a sure way to avoid overspending. Don’t be afraid to give your time or handcrafted items. Think outside the box such as experiences which can create memories and give you quality time with those you love. Thanksgiving is a time to celebrate family, friends and food. We hope that as you gather with those you love, your table is filled with blessings and gratitude. This Thanksgiving, our team is thankful for all of you! It is an honor to serve our clients and communities. On behalf of our Advisors Management Group family, thank you and have a wonderful Thanksgiving and holiday season. 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.

Spooky season is upon us and if you are like most Americans, your little ghouls and goblins are preparing for a night of harvest time fun. According to Stata.com, Americans plan to spend $104 per person on Halloween related items. While this is a lot, this is nearly $5 less per person than last year. From candy to costumes, Americans spend a notable amount on Halloween and Fall Harvest festivities. If you are feeling the pinch, we’ve got you covered with some ideas & facts about Halloween spending and a few ways to save money this fall.   Pumpikinflation  The price of pumpkins has steadily risen from an average of $4.18 in 2019 to $5.24 in 2023. While this year’s price will be calculated after the completion of the harvest season, it is expected to be well over $5.00. Factors such as weather, energy costs, labor and cost for seeds and fertilizer all factor into the price of pumpkins. If costs are up and demand is high, expect to pay a little more for your trip to the pumpkin patch.   Instead of pumpkin carving, consider a Halloween themed craft for little ones using items from your local dollar store or things you already have at home. If you are fond of using pumpkins for décor, you may want to invest in reusable ones that are readily available at your local craft store instead of throwing away pumpkins at the end of the season.  If you do opt for natural pumpkins, when you are done with them, bring them out to the woods to feed wildlife.  Candy-nomics  According to the National Retail Federation’s survey, 2023 candy sales checked in at $3.6 billion in 2023. This was a whopping 15% increase over 2022 candy sales. While it would be reasonable to assume that the 2023 cocoa shortage was a big contributor to this increase, 5 of the 10 most popular candies in the US were in fact not chocolate based treats. Love it or hate it, candy corn saw a huge increase in demand for 2023.  If you are looking for ways to spend less on candy, look to buy variety bags with more than 200 pieces which usually cost less per ounce. Buying candy mid-week prior to Halloween will offer the best prices and most opportunity for sales.  Mix up your bowl. Choose options that are not made with cocoa or mix in a bag of filler candies with chocolate-based treats.   Dressing Your Spookiest for Less  Costumes from stores can range from $50-$100 and up. This cost can easily take the biggest bite out of your Halloween budget. Consider using things you already have or buy things that can be repurposed and used for other things. Pajamas, leggings, sweatpants and plain t-shirts can often be used for the base of costume but can be worn again. Add cardboard, aluminum foil, plastic, pool noodles, paint and imagination and the options are endless.   Thrift shops and resale stores are a great place to find a costume that is ready to go. Children’s costumes can be found at rummage sales. Do you know people who always have amazing costumes? See if you can borrow or buy their old ones.   All Treat, No Tricks  Food is an important part of any holiday and Halloween is no exception. After a night of trick or treating, you may be tempted to take the kids out for dinner. Dinner at home is always a thriftier option. Why not make a Halloween themed dinner? Spooky treats don’t have to break the bank and kids like getting involved in food prep. Consider making a pumpkin shaped pizza from refrigerated pizza dough, creating jack-o-lanterns quesadillas or mummy-dogs from hot dogs and refrigerated crescent dough.    Halloween is a favorite time of year for many people and is a major contributor to the retail and entertainment industries. While it may be filled with tricks and treats, it is also generating billions in economic impact for America’s economy. This can really add up for families who are participating in the festivities. The good news is that there are a lot of ways to keep your budget in check while enjoying everything the season has to offer.    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.

As summer comes to a close and September arrives, Americans begin thinking about their favorite pastime, football. In the U.S., football is a major contributor to the economy. Statista.com estimates that in 2023, the NFL generated nearly $20 billion in revenue, and College Football generated nearly $1.3 billion. Considering the crazy amount of money spent on football in this country, how do you plan to spend (or minimize spending) during the football season? Here’s our starting lineup of tricks and tips for fun this football season. Avoid Gameday Grifters When looking for tickets for game day, be sure to buy from trusted sources. Avoid buying tickets on social media sites or from private parties you don’t know. Avoid people selling tickets on the street outside the stadium. Instead, buy directly from the venue or buy from authorized brokers. Legitimate brokers will guarantee the validity of your ticket. As a rule of thumb, the more desirable the ticket, the more potential for fraudulent tickets. Consider Watching from Home In 2023, the average cost of an NFL ticket was $377. Add parking, tailgating, concessions and souvenirs inside the stadium and it’s easy to fumble your budget. Enjoying gameday at home can save you hundreds of dollars while staying warm and comfy. Being an “armchair quarterback” has its perks. Feel the need for a fan experience? Watching from a sports bar is a fun experience and will cost a fraction of what it will cost to attend in person. Friday Night Lights While NFL and College Football get all the glory, don’t forget to support your local high school teams. Between cheerleaders, marching bands and cheap popcorn, small town games offer a lot of fun for a very small ticket price. It’s a great opportunity to have a fun night out while supporting local students. This is also a great opportunity for families with children who may find attending an NFL or college game out of reach. Tips for Gameday Goodies Football, friends and food are a match up made in heaven. If you find yourself entertaining for game day, you may be thinking about how to stretch your dollar. Stock up on non-perishable snacks when they are on sale. Check local ad circulars for specials. Visit your local wholesale stores for deals and steals on linebacker sized packages and pre-made appetizers. Cut and arrange your own fruit and veggies instead of buying pre-made deli trays. Host a Soup-er Bowl. A pot of soup or chili is a great low-cost option for feeding a crowd. Don’t be afraid to host a potluck party or encourage BYOB (bring your own beverage). A Word on Sports Gambling In 2023, the sports betting industry produced revenue of nearly $11 billion. Nearly half of Americans have placed a wager on football in the past year. Online sports betting platforms have made sports gambling accessible from nearly everywhere. While it may be tempting to participate in gambling, the odds are never in your favor. Know the difference between responsible fun and risky behavior. While Fantasy Football is a game of skill and not chance, this can be a slippery slope for those with addictive personalities. Always practice responsible gambling habits such as setting a limit and walking away from losses without trying to win your money back. Football season is a great time to spend time with friends and family cheering on your favorite team. Whether you are cheering for your favorite high school, college or NFL team, we hope you have a great time celebrating football season this year. 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.

Identity theft can happen to anyone at any age. In fact, 1/3rd of Americans reported that they have been victims of Identity Theft. The most common age demographic is those in their 30’s, however senior citizens report the largest financial loss. While it feels unimaginable, even children can become victims of identity theft. For those who have their identity stolen, repercussions range from frustrating to costly. With this type of crime being so common, how can you protect yourself from falling victim? Be Aware of the Signs Unfamiliar Transactions - Be aware of your account activity. Look at your bank history and credit card statements.  Follow up on anything that doesn’t look familiar. Report and dispute activity that does not belong to you.  Immediately lock down lost or misplaced cards. Unexpected Mail – While it is easy ignore and cast junk mail aside, do open all your mail. For some victims, finding a bill or otherwise unfamiliar mail is the first indication that identity theft has occurred. Victims of identity theft may receive notices from unfamiliar employers, collection agencies, tax notices or even information from unknown medical providers. If you notice an unexpected decrease in the amount of mail you are getting, be aware that someone could have forwarded your mail to an alternate address. Be Diligent – Be aware of your own spending patterns. Use tools provided by your credit cards and monitor your credit regularly. Check your statements and follow up on unfamiliar charges.  Be sure to securely shred or otherwise destroy documents with personal information printed on them. Consider opting out of pre-screened offers by visiting optoutprescreen.com or calling 888-5-optout Creditor/Collection Calls - If you get bills or collection calls that don’t seem familiar, don’t just ignore them. This could be a sign that someone has used your good name to run up a bill. Help for Victims If you find yourself a victim of identity fraud, don’t panic. While it is possible that someone could assume your identity and make a whole series of transactions, most incidences are small and isolated. The Federal Trade Commission reports that the median loss is $650. The longer a perpetrator uses your identity or the higher the financial theft, the more likely they are to be caught. Most make a purchase or two on a stolen account and move on to the next victim. There are actions you can take to fix the situation. First, contact the three major credit reporting agencies (Equifax, Experian and TransUnion) by phone or web. Request that a fraud alert and credit freeze be put on your credit immediately. Obtain a copy of your credit report and determine if there are any accounts that do not belong to you. You are entitled to a free copy annually.  Dispute anything that does not belong to you directly with the credit reporting agency. Contact any creditor that you do not recognize as soon as possible and report the fraudulent account. What will this cost me? In most cases, you will not be held responsible for financial losses due to identity theft. You will need to prove to the creditor that you did not make the transaction. That is why acting quickly is the most important thing to do if you are a victim of identity theft. Anything reported to your credit report that is inaccurate, incomplete or unverifiable must be removed within 30 days. While most people can clean up identity theft quickly, those victims of extensive or sophisticated crime may spend weeks or months fighting to recover from identity theft and may spend a lifetime trying to prove they are who they say they are. File an Identity Theft Affidavit with the Federal Trade Commission at Identitytheft.gov or by calling 1-877-FTC-HELP. 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.

Whether you are a college student, career person or retired, you may be looking for ways to increase your income. Side hustles or gig work are becoming an increasingly popular way to bring in extra money, but what should you consider before jumping on the bandwagon? By understanding how to evaluate income opportunities, you can choose what makes sense for you and what is better to avoid. Consider your long-term goals. Are you hoping to work for yourself someday? Can your part-time gig work become your full-time income someday? A side hustle can be a great way to ease out of the rat race and into being your own boss. Not interested in going into business? Consider casual job opportunities to add extra income. Try something new or do a job that allows you to meet new people while doing things you enjoy. For some, retirement will become a time of “reHIREment”. More people are choosing to open businesses or work in their own industry as a consultant. Doing this offers retirees a chance to work on their terms as much or as little as desired. This is a great opportunity for those who want the freedom of retirement but are not willing to hang up the career they have spent years building. Working for yourself in retirement can create retirement income that can be a great supplement to other sources of income such as Social Security, pensions or retirement account withdrawals. Setting Yourself up for Success If you decide to get moving on a side hustle, it is important for you to set yourself up for success. Do your research. Research similar businesses. Find out what has made them successful or what has caused them to fail.  Plan to carve a niche and learn the art of networking yourself and your business. Be mindful of the realistic potential for income. While some businesses are wildly successful, small businesses have a high failure rate. It is important to understand what the business will take to get off the ground and when you can expect to turn a profit before investing your time and money. Be mindful of tax implications. If you make money, you will owe tax. If you are your own employer, you may need to pay into Social Security and Medicare on your own behalf or make estimated tax payments. Consider startup costs and ongoing business expenses. What equipment, materials, or inventory are needed? What other costs have you not considered such as accounting software, or marketing. Be sure to consult with a tax professional or accountant to set your business up legitimately. Avoiding Schemes Seeking out extra income can make you valuable to “get rich quick” schemes. Be aware that pyramid schemes and multilevel marketing (MLM) business models are designed to create a lot of income for those at the top, while those at the bottom often make very little. You may be required to buy products ongoingly that are often more expensive than purchasing similar products elsewhere. These companies entice members to get others to sign up to offset the cost of the products they require you to purchase. They also promise passive income earned on products sold by the people you get to sign up. The Federal Trade Commission estimates that only 25% of MLM participants ever turn a profit. Investment schemes are often advertised for those hoping to earn passive income. Some entice people to buy classes on real estate, crypto currency, stock market investing with the promise of you being able to become a successful and wealthy investor. Some of these business models may even entice people to invest their own money with promises of big returns. As a rule of thumb, if a business or investment opportunity sounds too good to be true, then it probably is. Also, while an income opportunity may be legal and legitimate, it will not guarantee a profit. Some opportunities are simply opportunities for others to make money at your expense. A Note on Passive Income The term “passive income” is often used in the context of side hustles. True passive income is income that you do not have to work for. After the initial set up, it just keeps re-occurring and growing exponentially. You don’t need to start a business to create passive income. Investments such as stocks, bonds, CDs, and savings create passive income in the form of interest and dividends. You get paid for owing these assets. Other assets can help you earn passive income as well. Owning rental real estate, franchises or vending machines can help you earn passive income. If you do not have the capital to purchase an asset for creating passive income, consider creating your asset. Creating online courses, stock photography, or monetize social media to create streams of passive income. Ready to explore your options? We can help. Whether it is setting up your business, evaluating your tax situation or creating investment income, our team of business consultants and advisors is ready to help you create your plan. Visit our website or contact us today.   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.

From the pandemic era to hyperinflation, the last few years have created a trend of people looking for ways to get back to the lifestyle of yesteryear.  While many of us love the idea of getting back to our roots, it may not be practical, with today’s busy lifestyle. You don’t have to be raising backyard chickens or nurturing a sourdough bread starter to do things to save money and live a simpler life. By being intentional and by making a few tweaks to your current lifestyle, you can save a few bucks and even reap some health benefits. Here are a few tips for living a simpler life. Get Some Fresh Air Power down your devices and get outside. We all need a break from non-stop technology. As spring and summer months are approaching, it’s a great time to pause your streaming plans and other memberships and focus on doing things that don’t cost anything. Take a walk, go for a bike ride, or play yard games with the kids. Have a backyard camp out or plan a beachside picnic. Explore your local parks and nature preserves instead of opting for entertainment like going to movies or other venues that charge admission. If you do choose some sort of entertainment that costs money, seek out low-cost opportunities and try to get the best bang for the buck. Consider a yearly state park sticker or family season pass to your local public pool. Fresh air and exercise are great for the body and the wallet. Cook Outdoors Is your Friday night usually a dinner out night? How about rethinking dinner at a restaurant and moving the party outside. Think beyond just grilling out. Use a backyard fire pit to make campfire creations such as pie iron pizza or foil packet dinners. Let kids assemble their own walking tacos with corn chips or tortilla chips. Use an outdoor griddle to whip up a hibachi style stir fry. Whether it is at a campsite or your own backyard, get your family involved with preparing food in the great outdoors. Food cooked at home is a cost-effective alternative to dining out and it can be healthier too. Bringing food outside just adds to the experience and helps you create fun memories with friends and family. Ditch Excess Packaging and Unnecessary Plastic Do you find yourself buying single serve items for lunches and snacks? Any consumable item that is packaged for convenience typically will cost more than it would if you were to portion the food yourself. Additionally, single use packaging creates more environmental waste. Consider using reusable containers to portion out your food and snacks. Avoid single use plastic bags when possible. Consider repurposing glass or plastic containers from products that you buy. Fill a water bottle or make to-go coffee at home instead of buying a beverage while running errands. If you are already in the habit of taking your cup with you on the go, resist the urge to buy the latest cup or water bottle that is trending on social media. You likely have plenty of options at home already. Instead consider using an old mason jar and a reusable straw for a little shabby chic appeal. You will be surprised at the financial and environmental impacts of being mindful about the containers you use for drinks and snacks. Get Your Green Thumb Growing You don’t need to have acres of land to grow your own food. In fact, you can grow delicious food at home without a lot of space or elaborate equipment. If you love the idea of having raised garden beds, but don’t want to spend the time or money, think smaller. Many items that you have lying around the house can be converted to a patio garden. Consider plants that grow well together. Create a salsa garden with tomatoes, jalapenos and cilantro in an old plastic tote. How about using kitchen herbs in flower planters? If you have a little more space, think outside the box. If you have a fence, hang a shoe organizer on it and plant strawberries in the pockets. Or perhaps grow potatoes in a laundry basket lined with an old burlap sack. Make sure that plants have proper drainage, water and adequate sunshine when growing your garden. Now is the perfect time for planting this summer’s healthy harvest. By reusing things you have, you can save money and scratch your itch to get your hands in the soil. Today’s fast paced, highly stressed lifestyle really can leave people looking for opportunities to get back to basics. There are many physical and financial benefits to taking a step back and enjoying the simpler things in life. Avoiding waste and stepping back from the hustle and bustle just makes “cents” and can help you to have a little bit more cashflow to your financial goals. We encourage you to consider what you can do to spend less but create a life with simplicity and significance.   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.

Many American families dream of that once in a lifetime vacation or enjoy an annual trip. What most people don’t realize is that these types of trips can really set you back. According to USA today, Airfare prices on domestic flights average $367.79 per person. Popular locations at peak season times can cost far more. According to GoGo Charters, the average family of four can plan on spending a whopping $7,936. For some families, this is simply more than what they can afford. With the cost of family vacations escalating, many are finding the vacation of their dreams out of reach. Rest assured, you can still create meaningful memories and spend quality time with your family without breaking the bank. Maximize Your Budget Determine what you can afford. Avoid spending money you don’t have. The only thing worse than seeing your vacation end, is finding a big credit card bill in your mailbox when you get home. When you have determined what you can afford, do some research to find out how to maximize your dollars. Price out different lodging options at different times. Warm weather destinations are much more affordable in mid-October than they are in mid-March. Consider working with a travel agent who may have access to lower pricing or may know the tricks of the trade to make your money go farther. Don’t assume using a travel agent adds cost. It may be just the opposite. Consider all your options for transportation. While it may sound better to jet set off to your destination, if it is possible, driving can trim thousands of dollars off the cost of your trip. Take into consideration the time, number of people traveling and the distance. Will you need to budget for meals or a roadside hotel along the way? Can you trim off these costs by driving longer hours and taking a cooler along? What is the expected cost of fuel? These details all factor into your overall cost. It may be cheaper for a couple to fly, but a family of 4 may save a lot of money by driving. Slay the Staycation If you are looking for a smaller budget option, consider what sort of things your family would love to do on vacation. How many people have talked about booking a fancy vacation for their kids and the kids only wanted to swim in the hotel pool? If this is your family, your kids may have been excited to just stay in a hotel close to home and swim in the pool. Also be sure to check out rental properties that can be the main event of your vacation through Airbnb and Vrbo. Cottages and Cabins could be available only a short drive away from where you live. Perhaps there is a destination that is closer to home that you have never been to. Consider attractions that are within a few hours’ radius. By looking at your own town or state, you may just find a gem that you have overlooked. Natural wonders, museums, baseball stadiums and theme parks in your area can make a great place to visit with your family. Turn “we should do that sometime” into “we can’t wait to do that again”. Go Where the Wild Things Are Vacations focused on nature are a great way to get back to simpler times and can be very affordable options for families. Consider national and state parks as a fantastic opportunity to see this beautiful country we live in. Whether you drive far or stay closer to home, a 1-year car pass for national or state parks generally costs less than $100 and gets your whole family in for the whole year. For those interested in national parks, if you are permanently disabled, or an active or retired armed forces member, you can qualify for a free National Park Lifetime membership. Discounted memberships are available for those over 62 or for families with 4th grade children. National Park memberships grant access for not only national parks, but also national monuments and federal fee recreation areas. While lodging in national park areas can be pricy, it can swing significantly and be more affordable in shoulder seasons. If you are of the adventurous variety, you may want to even consider options for camping. State and Federal camping sites can be very low cost. They do fill up early, however sometimes last-minute cancellations will create booking opportunities. If you are set on camping, you can book up to 12 months in advance. No RSVP, no problem. Most National forests allow for free camping in undeveloped areas. Be sure to check out rules about dispersed camping areas at www.fs.usda.gov. If you have an RV or camper, be sure to check out the rules for boondocking (disbursed camping for RV units). There is really a vacation option for every family on every budget. By getting creative and focusing on what matters, you can create a memorable family vacation. While you won’t remember how much or how little you spent, you will remember the memories you created with those you love.   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.

How to save more money…What does this mean to you? Does it mean that you actively are looking to increase your savings? Does it make you think of starting a 401k, saving an emergency fund or tucking money away for a major purchase? Or does it mean saving money on groceries, making your paycheck go farther or not feeling stuck in the rut of trying make ends meet. While this same question can have two different meanings, the root of the question comes down to cash flow management. If you are getting established, you might feel like you are trying to make it from paycheck to paycheck. If you are in the middle, you may be looking for ways to increase your savings. If you are in the thick of retirement planning, you may find yourself focused on which expenses you bring into retirement and how to turn your nest egg into a cash flow to cover your monthly expenses. No matter your stage in the game, cash flow is part of equation. Cash flow management is the backbone of all financial planning strategies. Unfortunately, many people overlook the importance of evaluating where your money is going. It can be assumed that if you aren’t having issues managing your money, you don’t need to evaluate your spending. Evaluating cash flow can help you determine retirement spending needs, help you determine what expenses you will carry into retirement, and plan for inflation. Let’s break down some tips for maximizing ways to save more money. Foundational Years If you are just getting yourself established, pay yourself first, then set your lifestyle budget around what is left over. Setting up savings strategies like 401ks, Health Savings and emergency fund as soon as possible will help save more over the course of your working years and can get you on the road to wealth building sooner. It is harder to start these strategies later especially as responsibility grows. Avoid the urge to keep up with Joneses. Social media and other influences have painted an image that you need the latest and greatest of everything. Instead choose to live within your means, keep debt in check, keep emergency funds available and plan for major purchases. Don’t overextend yourself on housing or vehicle payments. Only make major purchases that you can comfortably afford and leave yourself some wiggle room so that you are able to handle unexpected emergencies. While the grass may look greener on the other side of the fence, the grass is truly greenest where you water it. If you are coming late to the game paying yourself first, start small and work your way up. It’s easier to save $1000 to your emergency fund than it is to save 6-12 months of income. If you feel you can’t save for retirement, start small and work your way up. Try to contribute enough to get any match your employer offers. If that seems like too big of a commitment, start by saving a percent or two and then increase every year. If you get a pay increase, increase savings again. By taking small steps towards your goals, you are creating good habits and moving in a positive direction. Wealth Building Phase Focus on increasing savings. The 50/30/20 rule is a very effective strategy to balance your short-term spending needs with your long-term savings goals. 50% of your income can go towards your necessities, 30% of your income can go to discretionary spending and 20% allocated to saving. The 20% that you save should be broken down between long-term goals and short-term goals. For example, if your employer matches up to 6% of your income, you may put 6% into your 401k, but then may fund a Roth IRA up to the maximum, while also putting money into a Health Savings Account and/or taxable brokerage account. The mix of savings can be customized to meet your goals and create tax efficiency. It’s a good rule of thumb that of the portion designated for saving, at least 10-15% will be allocated to retirement. Retirement savings should be left untouched to maximize growth and avoid unnecessary tax and penalty. Retirement Years While some people still save for their goals in retirement, most people’s focus is more on being mindful of how they spend their money. Projecting cash flow and expenses before you retire will help you to determine if your nest-egg will provide the income you will need to cover your expenses. For some people, annual spending needs will decrease because you can eliminate the portion you allocate to retirement income. Additionally, many people will have eliminated debt prior to retirement, which can lower retirement income need. As a rule of thumb, you should be drawing 4% or less of your retirement savings to avoid spending through it prematurely. This is just a general rule, you should consult with your investment advisor representative for what is right for your situation. Investments that generate income such as interest and dividends can be important to help replace the money you spend. If saving money in retirement means spending less, retirees can find lots of great discounts allowing them to spend less in retirement. Retirees can take advantage of discounts on retail purchases, travel, memberships, and pharmacies. Some retirees may even seek out places to reside with favorable tax situations to help them save money in retirement. Final Thoughts Regardless of where in the financial planning process you are, cash flow is an important aspect of evaluating your situation and planning for your future. Thinking beyond budgeting; your cash flow is the most important tool for building long term wealth. If you are not sure where to start, meeting with a trusted financial advisor is a great first step. Our team of fiduciary advisors can help you to determine where you are now and how to accomplish your goals. 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.