Category: Tips
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.
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.
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.
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.
