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Big Life Changes = Time To Review Beneficiaries!

Posted by State Bank of Cross Plains

By: Alyssa Chance, Vice President & Trust Officer

Congratulations! Your estate plan is set, your beneficiaries are named ... you’re done, right? Not so fast. In the oft-quoted words of the Greek philosopher, Heraclitus: “Change is the only constant in life.”

If you’ve had a big life change, it is a good time to review your estate planning documents, to ensure your plan continues to reflect your wishes. It also makes sense to review life insurance or investment accounts where a list of beneficiaries has been made. Here are a few life events that could trigger a review of your documents.

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Topics: Wealth Management, Estate Planning, Retirement Planning

Look Before You Leap: Retirement Isn't For Everyone!

Posted by State Bank of Cross Plains

By: Dan Savage – Senior Vice President and Senior Trust Officer

Ask someone why they’re happily anticipating retirement, and you’ll likely hear plans about unlimited time for family, golf, travel, reading, biking, yoga, the health club, morning coffee, evening cocktails, freedom from stress, and much more. While these happy, idyllic scenarios unfold for some, they don’t for everyone.

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Topics: Financial Planning, Retirement, Retirement Planning

Estate Planning: Why Bother?

Posted by State Bank of Cross Plains

By: Dan Savage – Senior Vice President and Senior Trust Officer

Estate planning is defined as the process by which an individual plans for the acquisition, use, conservation, and disposition of property or wealth. The National Network of Estate Planning Attorneys offers a clearer explanation:

I want to control my property while I am alive and well, care for myself and my loved ones if I become disabled, and be able to give what I have to whom I want, the way I want, when I want, and, if I can, I want to save every last tax dollar, attorney fee, and court cost possible.

You Can't Have Everything ... Where Would You Put It?

Posted by State Bank of Cross Plains

By: Jeff Supple, Vice President & Trust Officer

Steven Wright’s quintessential, dry-witted line about excess probably doesn’t do much for most of us, other than cause a chuckle. We probably aren’t looking for a deeper meaning or applying it to our everyday life. However, I thought it might be interesting to examine a few well-known idioms/quotes/sayings and explore how we might use them to make practical applications to our personal finances.

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Topics: Financial Planning, Wealth Management, Retirement, Stock Market, Economic Outlook, Retirement Planning, Saving, Budget

Just How Good Is Your Company's 401(k) Plan?

Posted by State Bank of Cross Plains

By: Dan Savage, Senior Vice President and Senior Trust Officer

Business owners know that a high-quality 401(k) plan is an essential fringe benefit, valuable to both company and employee alike. Some also believe that offering 15 to 25 mutual funds, daily valuation, online statements, reasonable cost, and perhaps a few slick online planning tools somehow make their plan “first-rate.”

We disagree. We believe that the above-listed attributes, while important, are insufficient to qualify a plan as first-rate.

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Topics: Financial Planning, Wealth Management, Retirement, Retirement Planning, Saving

Back To Basics: Diversification And Asset Allocation

Posted by State Bank of Cross Plains

By: Mark Drachenberg, Vice President and Senior Portfolio Manager

The following article – republished here courtesy of Broadridge Investor Communication Solutions, Inc. – contains sound advice for investors of any age and level of expertise. Regardless of one's market savviness, employing a back-to-basics approach can help keep things simple and provide perspective on one's goals and how best to achieve them.

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Topics: Financial Planning, Wealth Management, Retirement, Stock Market, Retirement Planning, Saving

Succession: Both An Art and A Science

Posted by State Bank of Cross Plains

By: Jordon Geiger, Vice President and Trust Officer

What is a legacy? Is it the continuing operation of your business? It can be. Your personal wealth? Your family’s wealth? The brand image and reputation you’ve built? The lifestyles and careers of your children or other successors? Yes to all.

There is no formula a business owner can use to address the emotional side of succession. But there are strategies and leading practices an owner can use to confirm that his or her legacy isn’t left to chance.

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Topics: Wealth Management, Succession Planning, Retirement, Business Plan, Business Valuation, Retirement Planning

2019 IRS Retirement Contribution Limit Changes and the Race to the Retirement Finish Line

Posted by State Bank of Cross Plains

By: Jeff Supple, Vice President and Trust Officer

Cost of living increase will kick in during the 2019 tax year which means individuals can save more money in tax-advantaged plans prior to their retirement.

Here are some key numbers:

Read More: 2019 IRS Retirement Contribution Limit Changes and the Race to the Retirement Finish Line

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Topics: Financial Planning, Wealth Management, Retirement, Tax, Retirement Planning

Banknotes

Big Life Changes = Time To Review Beneficiaries!

Look Before You Leap: Retirement Isn't For Everyone!

Estate Planning: Why Bother?

You Can't Have Everything ... Where Would You Put It?

Just How Good Is Your Company's 401(k) Plan?

Back To Basics: Diversification And Asset Allocation

Succession: Both An Art and A Science

2019 IRS Retirement Contribution Limit Changes and the Race to the Retirement Finish Line

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