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MARCH/APRIL 2022
Financial Horizons Your Connection for Wealth, Lifestyle & Legacy
McBeathFinancialGroup.com 309.808.2224 Get to Know Our Newest Team Member JULIE KARSTENS!
As you may remember from the last edition of the newsletter, among the accomplishments we achieved as a team in 2021, one of our favorites was the addition of Julie Karstens to the McBeath Financial Group team. This month, I’m handing over the reins of the cover article to Julie so you can see firsthand just what makes her so special.
Since joining McBeath Financial Group, I’ve discovered we provide an unparalleled service. The processes and software we utilize are some of the most sophisticated platforms, and our approach is so intentional and personalized. With Krista’s
—Krista McBeath
Hi, everyone! As Krista mentioned, I’m Julie, and I joined the McBeath Financial Group in 2021. I’m grateful to Krista and Robert for inviting me to join such a dynamic team, which has allowed me to grow as an advisor and fuel a passion I have had for as long as I can remember. Growing up in the small town of Teutopolis, Illinois, I always wanted to work in finance — so much so that I earned my degree in finance from Illinois State University with an emphasis on financial planning! About one year after graduation, I followed in my dad’s footsteps and went to work at a bank as a credit analyst. However, shortly after starting, I was approached about moving to the wealth management team at the bank. I completely fell in love with the world of wealth management! I really enjoyed creating relationships with my clients. When I started specializing in comprehensive financial planning at the bank several years later, I found it encompassed so much of what I enjoyed about wealth management — and more. I knew I had found my passion! Throughout my time in this role, I specialized in retirement planning, trust administration, and investment management. In 2021, a recruiting group reached out to me about this opportunity at McBeath Financial Group. I had known about McBeath Financial Group through the community; as you may know, this is a very well- known and respected firm! The prospect of furthering my career and working with someone as experienced and compassionate as Krista was too exciting for me to turn down, and after speaking and interviewing with Krista and Robert, I knew this was where I was meant to be. Their philosophies, practicing styles, and strengths aligned so well with my approach.
experience and our numerous touchpoint opportunities, it’s easy to form a strong, personal bond that helps us better use our nerdy, number-crunching
talents to serve clients. I have found this approach incredibly valuable in my career, and Krista is one of the best at it.
As I look toward the future of my career, I look forward to earning my Certified Financial Planner® (CFP) designation. (I’m currently a certified trust and fiduciary advisor.) It can take several years to earn this certification, but I’m ready to take on this challenge. Working toward my designation will mean adding one more task to an already busy personal life, however! My husband and I live in Normal with our two daughters, and we are small group leaders at Eastview Christian Church in Normal. In addition to my professional pursuits, our two girls, and working with the church, life is about to get a little more chaotic and exciting, too! My husband and I are expecting our third child and first son in May! We could not be more excited.
I want to thank those of you who have welcomed me to McBeath Financial Group with open arms and kind words, and that includes the
wonderful people I get to work with each day. It’s an exciting prospect to discover a job you love, only to learn the people you work with and for will make your dream career even sweeter. —Julie Karstens
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It’s OK to ‘Treat Yo’ Self’ WHY RETIREMENT PLANNING SHOULD INCLUDE FUN!
An excerpt from my Amazon best-selling book “The Generational Wealth System” highlights a commonly forgotten element in financial planning: the fun of enjoying what you’ve earned! “’Treat yo’ self!’ is one of my favorite lines from the television series ‘Parks and Recreation.’ Characters in the series repeatedly use this line to justify a day of unbridled pampering and spending. Sure, it was reckless to watch, but at the same time, it was therapeutic for the characters experiencing it. Despite the comedic element, there is some sound wisdom behind the phrase. You’ve probably earned the right to ‘treat yo’ self’ occasionally, and it should be part of the plan.” This was pulled from one of the chapters I most enjoyed writing, “Celebrate Abundance”! (If you don’t have a copy already, see the website Wealth-Book.com for more info.) Many traditional financial and retirement planning elements focus on expenses, long-term care, and emergency preparedness. While these are valuable and a large part of building security for your future, financial planning should also provide an opportunity for you to live your lifestyle — with all the treats and indulgences you want — without feeling guilty about it. It must be a process designed to fund your life, whatever that may look like.
As I write about in “The Generational Wealth System,” I encourage clients to plan for a “play”
check, which is money they can spend as they please, whenever they
want! Use this money to fund a day trip or an expensive date
night with your spouse. Take your grandchildren to the zoo, buy the item you have been eyeing for months, spend a few afternoons on the golf course, or spoil yourself with a spa day. Whatever the “fun” of life looks like for you, your financial plan can be built to include it. Remember, finances don’t always have to be serious. When you create a plan that is designed to protect your goals, provide you with support in an emergency, and supply a few funds for something fun each month, that’s how you know you’re planning with the right mindset.
If this article sparked a concern about your plan, please schedule a consultation with my team today.
Protect Your Identity and Kick Scammers to the Curb 5 Ways to Deal With Annoying Robocalls —Krista McBeath
According to the latest data, scammers and telemarketers make 1,528 robocalls to Americans every single second . No wonder they’re driving us all crazy! Some of these calls are legitimate reminders about doctor’s appointments and payment plans, but around 55% of them are just nuisances — and we can’t rely on the government to stop them. If you’re sick of hearing about “your car’s extended warranty” or the “student loans” you paid off 40 years ago, try these five tips to cut down on robocalls and outwit scammers. 1. Explore your carrier’s free tools. AT&T, T-Mobile, and Verizon all offer services to cut down on scam calls. Some of them are free and/or come with your phone, but others you have to pay for or activate. If you have Verizon, for example, you can download the “Verizon Call Filter” app from the Apple App Store or Google Play. Visit your carrier’s website or call them to learn about the tools they offer. 2. Download an ad blocker. For extra protection, you can download a separate ad blocker from the Apple App Store or Google Play. Hiya is a free app that will give you caller ID and block spam calls,
and Nomorobo is an award-winning option that’s free for landlines and costs $1.99 per month for cellphones.
3. When in doubt, let it ring out. If you don’t recognize the number calling, don’t answer. You can always call back if they leave a legitimate voicemail. 4. Suspect spam? Hang up. So, you accidentally answered a spam call. Whether it’s a person or a robot on the line, hang up immediately! Even saying your name or the word “yes” could set you up for identity theft. 5. Handle voicemails with care. If you get a suspicious voicemail, never call the number or visit the website given by the caller. Instead, Google the company or agency they claimed to be with and call that number. If the real agency has no idea about the call, you’ve just escaped a trap. By taking all five of these steps, you can protect yourself and your wallet from Ponzi schemes, identity thieves, and annoying telemarketers. For even more specific advice, visit AARP.com and search “The Definitive Guide to Reducing Robocalls.”
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It’s no secret that society appreciates a do-it-yourself (DIY) mentality. Scroll through your social media feeds, and you are sure to find a video of someone reupholstering a chair or a novice baker who tackled sourdough for the first time. There’s immense value and commitment that comes along with doing a project yourself, and I regularly commend the practice. Yet, DIY projects can get us into trouble when we try “the big stuff” on our own. For instance, if you’re a veterinarian, you may be well- versed in animal anatomy, but you may not be well-equipped to replace your home’s HVAC system. The same can be said for your finances. I often meet people and couples who have done their research when it comes to investments and savings plans. In doing so, many do well growing their wealth and creating a level of financial stability. Their success at that point may lead them to believe a financial expert’s guidance is unnecessary. But they don’t know what they don’t know! The Hidden Cost of the DIY Approach
SUDOKU
I have witnessed this scenario enough to know that this kind of thinking can be detrimental as a person nears retirement age. There are many risks one can face, but one that often goes unaddressed is the Goldilocks paradox . You have some who prefer to spend and enjoy their earnings with reckless abandon, leading to difficulty when it comes to preparing for the future. On the other side of the spectrum, you have those who are very thrifty. They set stringent limits on their spending, which may infringe upon the lifestyle they could be enjoying. Yet in both scenarios, a financial professional could provide the perspective and tactics they need for balancing safety against lifestyle rewards. The goal is to live the best life possible, without risking future needs! This is just one of many benefits that may be found with professional assistance. I cover this in much more detail in my new book, “The Generational Wealth System.” Here’s a noteworthy excerpt: “Financial advisors, accountants, and attorneys can often offer critical insights and guidance … But rather than justify the fees charged, the real question is, do they bring more value to your finances than they cost? If they are critical to achieving the financial goals, then probably. Additionally, if the fees are less than the added return they provide, or losses they circumvent, don’t the professional fees pay for themselves?”
SOLUTION ON PG. 4
P.S. Have you had a chance to get my book yet? I would appreciate it if you checked it out on Amazon.com. And if you have read the book, thank you! A review would go a long way in ensuring others find this valuable information. Thank you!
—Krista McBeath
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203 Landmark Dr., Unit A - Normal, IL 61761 - 309.808.2224
I N S I D E
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Meet Our Newest Team Member, Julie Karstens ‘Treat Yo’ Self!’ We Plan for Fun in Retirement
2
Handle Robocalls Like a Pro
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Do You Really Need a Financial Professional? Packing Tips to Save Your Back, Wallet, and Sanity
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SOLUTION
Advisory services are offered through Landmark Wealth Management Inc, dba McBeath Financial Group, an Illinois Registered Investment Advisor firm. Insurance products and services are offered through McBeath Tax and Financial Services, LLC. McBeath Financial Group and McBeath Tax and Financial Services, LLC are affiliated. All content of this newsletter is for information purposes only. Opinions expressed herein are solely those of McBeath Financial Group and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual financial professional prior to implementation. Copyright 2021 McBeath Financial Group.
Leaving on a Jet Plane?
3 ESSENTIAL PACKING TIPS
Many people are considering traveling this spring for the first time since the pandemic started. A lot has changed since 2020, but packing for vacation remains a hassle, and baggage fees haven’t gone anywhere. Here are some essential tips to keep your load as light as possible — physically and mentally.
it’s all on paper, you’re more likely to notice that you probably don’t need that many pairs of sandals.
Use your personal item for extra storage. Airlines generally allow travelers one carry-on bag and one personal item. The dimensions allowed vary by airline, but the general rule of thumb is that the personal item needs to fit under the seat in front of you. Don’t bring a small purse or a laptop bag when you can take a large tote or backpack. With the extra room, you can avoid checking another bag. Never check essential items. Lost luggage is the worst way to start a vacation, but it happens. If your luggage is misplaced, you probably won’t get it back that same day. So, you need to pack all essential items, like prescription medications or glasses, in your carry-on bag. Some experts even recommend tossing an extra shirt or pair of underwear in your carry-on in case your bag gets lost. You’ll be glad to have them if something goes awry. Packing smart will make for a less stressful journey. You can kick back, relax, and enjoy the trip knowing that everything you need is right there in your suitcase, and everything you don’t need is safe at home.
Make a list . It’s just as easy to forget things as it is to
overpack. Solve both problems at once by
creating a packing list in advance. Consider
in detail what you’ll need, and put it in writing. As each item gets added to the suitcase, check it off. Writing everything down creates a system to prevent leaving anything behind. And when
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