By the time you are in your 30’s you should be on the road to building a solid financial future. Whether you think you don’t have the means to save or continue putting it off and will “save later” keep this in mind; more than one-third of American’s don’t have anything saved for retirement. (US Department of Labor) Many of you that are younger may find investing interesting, but not sure where to begin. Below are six great ideas of what you should be doing to prepare for retirement as young as 30. 
 
1. Paychecks Save at least 15% of your income on an annual basis. You can even automate it, so saving is systematic. 
 
2. Guard against lifestyle inflation. As your career grows, your salary is likely to grow. Yet, just because you have more money in the bank, doesn’t mean you should spend it all. Each time you get a salary bump, increase the amount you save.
 
3. Start envisioning your retirement. Your retirement may be years away, but having an idea of the kind of life you want during retirement is extremely important. Do you want to travel the world or spend time with family? Really think about the things you may want to do and the lifestyle you want. Keep in mind that you are saving now for the life you want later. 
 
4. Pay attention to taxes. Taxes are not only a significant amount of your income, but they are a sure thing. Take a solid look at your accounts and options, and do the math. Paying taxes today rather than in the future may be more beneficial.
 
5. Rebalance your investments every 6 months. Invest in a well-diversified portfolio allocation based on your time horizon and risk tolerance. Every six months do a rebalance and make sure you are back in line with your intended allocation. Six months is a good check in to make sure you are sticking to your plan to reach your retirement goals.
 
6. Learn to negotiate. Research what similar companies and positions are paying as well as what added skills people in a similar position may have. Take the time to continuously invest and hone in on your skills. Negotiate and strategize with your employer to build the income you desire. Whether you have a salary of 30 or 300 thousand, the numbers will run the same. It is pivotal to not only start saving for retirement as early as you can, but to also understand how much you really need. Call today to meet with an Independent Financial Advisor for your complimentary review.

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Guest Sunday, 25 June 2017
Estate Planning and Probate: Is it possible to contest a Will or a Trust?
  Why would I contest a Will or a Trust?   If your loved one’s Will or Trust is not what he or she really intended, there are corrective actions you can take so that your loved one’s wishes are properly carried out. Who can contest a Will or a Trust? A beneficiary of a Trust, a devisee of a Will, or someone who would have inherited if the deceased died Intestate (without a Will/Trust) has standing to contest a Will or a Trust. Under Michigan Law, spouses, children, grandchildren, parents and in certain circumstances, siblings, are considered interested persons, if the deceased died Intestate. What consequences should I be concerned with if I contest a Will or a Trust? Most Wills and Trusts have clauses in them stating that any interested person or beneficiary who contests the Will or the Trust will forgo their rights in the same – commonly referred to as a “no contest” clause; however, under Michigan Law, a “no contest” clause is only given effect if there is no probable cause for challenging the Trust/Will. MCL § 700.2518. In other words, the consequences of a “no contest” clause will only kick in when there was no reasonable basis (probable cause) to challenge the Trust/Will. What facts give you probable cause to challenge a Trust/Will? The most common reasons for challenging a Trust/Will are: The deceased lacked capacity when the Trust/Will was made; Undue influence by another (oftentimes, a close family member); Fraud; The existence of a more recent Trust/Will; or The Trust/Will was not executed properly (not witnessed or signed properly). The Take Away. If your loved one’s wishes are not carried out as they intended, and you have a reasonable basis for that belief, per the common reasons above, you can challenge the Will/Trust.
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If You’re Listing Your House This Spring, First Get Your Equity Out
  By Jonathan Arnold Manager, Inlanta Mortgage Grand Rapids http://www.MichiganHomeLoanSolutions.com You've heard the Grand Rapids Real Estate market is on fire. You've been scheming and dreaming to trade up to your dream home. Or maybe you're going the other direction, selling the empty nest at peak profitability for a more carefree condo lifestyle. Either way, spring 2017 is a great time to list your house in Michigan. But before you start staging, cleaning out closets, or calling your real estate agent, have you thought about what's likely to happen the minute your house hits the market in this climate? The good news is, it will likely sell. The bad news is, it will likely sell -- immediately. Which means that finding -- and securing -- your dream home in a hot market becomes an exercise in stress-seeking behavior as you try to juggle finding just the right house, selling your existing house, and having somewhere to live in the middle. It Doesn't Have To Be This Way Savvy homeowners can save themselves time, trouble and possibly grief if they make just one call before listing their homes. That call is to the Inlanta Grand Rapids Mortgage Team to be connected with a lender partner to open a home equity loan before it's listed. Note: It must be before the house is listed! Traditionally, people facing the financial juggling involved in selling and buying a home have chosen among bridge financing, borrowing against their 401Ks, or proactively getting a home equity loan before listing their homes on the market. While the best option will depend on your individual financial standing, the team at Inlanta feels that in the current market, the HELOC offers more advantages and flexibility than other solutions, allowing the homeowner to get the jump on the home they want before putting their existing home on the market. Interest-Only HELOC - Home Equity Line of Credit If the house is not yet listed you can probably get a home equity line of credit (HELOC). With a HELOC, you can draw the amount you need for the new house, subject to a maximum draw.   The advantages include typically competitive rates, flexible terms and even Interest-Only products. The key advantage to the HELOC is that it allows a homeowner to access the equity locked up in the existing home before it's on the market. Bridge Financing - Too Reactive vs. Pro-Active In the old days, "bridge financing" was the instrument commonly used to help homeowners buy another home while selling their existing home. However, in the current mortgage climate, a bridge loan isn't usually available unless you have a binding contract of sale on the old house. This also means that you can't start looking until conditions are met. The sale agreement is the lender's security. Bridge loans differ from traditional real estate financing. Interest rates are higher than a fixed-rate mortgage loan, and closing costs can be as high as mortgage loans. At the end of the day, if you rely on a bridge loan secured on a sale, you may miss opportunities when the right house comes along. Do The Math on the 401K Some pundits recommend borrowing against your 401K as a low-risk way to finance a new home before closing on your existing home. But this makes no sense when the stock market is giving stronger returns than the interest charged on home equity loans. Money pulled from the market creates exponential losses over time. So if you're getting ready to enter the spring market, get a jump with a call to Inlanta for a referral to our partners who specialize in smart products like the interest-only HELOC. We'll help you map out the right amount to keep in reserve for commissions and closing, and get you started started on the happy trail to your dream home. Contact us for information on our HELOC partners. ===================================================== Jonathan Arnold has been working in the mortgage industry since 2003. He prides himself on taking the time with each and every client to evaluate not only what is best for them today, but also what will be best for their future. As the Grand Rapids Branch Manager at Inlanta Mortgage, Jonathan ensures that each client is confident in making their homeownership dreams a reality. Contact Jonathan at jonathanarnold@inlanta.com or follow him on LinkedIn (www.linkedin.com/in/jonathanarnold1 ) Visit the Grand Rapids Inlanta website at: www.MichiganHomeLoanSolutions.com Forest Hill Financial, Inlanta Mortgage and Securities America are separate entities
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Can a Trust own and manage my business?
Can a Trust own and manage my business? The short answer – yes, it can; however, there is more to it. Trusts can own businesses and manage them for the benefit of your heirs, but there are nuances to consider. S-Corp thoughts/considerations. For example, if your business is an S-Corp, you avoid corporate taxation, double taxation, because the shareholders receive the income and losses from the business (S-Corps are “pass through” tax entities). In other words, the business income gets treated like personal income for the shareholders, although certain exceptions apply. An S-Corp: Has fewer than 100 shareholders (family members and estates are treated as one shareholder); Does NOT have a shareholder that is not an individual (except for certain types of Trusts, and certain exempt organizations, such as a 501c3); Does NOT have nonresident aliens as shareholders; and Has only one class of stock. The take away. A Trust can own and manage a business for the benefit of your heirs; however, there are specific nuances to consider, such as limiting S-Corp status to certain types of Trusts. If you would like to consider Trust based ownership-management, meet with your Estate Planning lawyer to discuss the specifics.  
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What benefits should you be looking for out of your job? | A Millennials Perspective
Maybe you just graduated college and landed your absolute dream job. Or maybe you have been working with the same company for ten years now and are considering a change of career. Regardless of what your situation is, one main source of focus should remain a constant; your workplace benefits. Having benefits in your workplace, and better yet; understanding what those benefits are is a very important aspect you should keep in mind as you are looking to start your career or perhaps exploring the idea of changing jobs. After all, millennials are the “job-hopping generation.” There are numerous staples to your financial future that a workplace can offer, many of these unfortunately tend to slip the mind throughout the application process. Beyond the seemingly bare minimum 401k match, keeping in mind benefits such as healthcare coverage, flexible schedules & vacation time, student loan repayment, and career & personal development should all be taken into consideration! Your future is much more complex than the dollar figure of your paycheck every week.   In today’s world, having healthcare coverage through your employer is one of the most important benefits to consider, and a huge factor for deciding if you’ll take on a new role at a new company. The future of the current healthcare system remains uncertain, so having guaranteed coverage provided by your employer is beneficial in more ways than you may think. For starters, you get to keep more money in your own pocket; which can be huge for young families that are just starting out. Not worrying about finding coverage on the healthcare exchange and having deal with that headache can really save you stress in the event something was to ever happen. Finally, many employers want to keep their employees healthy and will often throw in gym memberships and health classes as an added bonus, brownie points for getting fit!   Another point to consider when looking into a new job, is work-life balance. In today’s day and age, it seems to be more and more difficult to manage the roles and responsibilities of being an exceptional employee, along with the health and wellness of your home and social life. There is a never-ending stream of “things to get done and places to be,” whether it’s with your spouse, work colleagues, children, family, or even just downtime with friends. If you find yourself constantly exhausted from a the seemingly never ending pull of your time and energy, a flexible schedule should be taken into careful consideration before signing the dotted line on your new job offer. Now that being said; most of us won’t get a “work when you can” type of job, but this thought process also pertains to vacation time. Two weeks’ vacation may sound great at first, but as you soon find out, that grandma’s birthday and your best friend’s Bachelor party have single handedly eaten through all your time off...you may find yourself reconsidering. Moral of the story here, understand the demands of your life and ensure before you sign that offer, that your personal life and emotional wellbeing won’t suffer as a result.   A sore subject among many millennials...student loans. Student loan debt is, and seems to continue to be a significant burden to the millennial budget. There are now more than 44 million college graduates who have amounted more than $1.3 trillion in student loan debt, yes you read that right...trillion. After making payments for months and even years, it seems like that loan burden will always be present. It is tough for millennials just starting out to balance finances when you hit the ground running backwards entering the workforce already owing, for some, tens of thousands of dollars. Working an entry level job because you don’t have experience all the while trying to make it on your own with high rent costs, student loan debt, credit card debt, and all the other bills you’re responsible for can make the future can look pretty glum. For many millennials, the reality of this has left them with very little (if any) money left over for anything else. Now, how does this fit into what to look for when applying for a job other than how big the salary is? One of the trending employee benefits for 2017 is student loan repayment, hallelujah! There is a light at the end of this tunnel! This benefit is monumental in helping young employees move forward in their early stages of life and is making jobs that much more competitive. Keep an eye for this up and coming benefit in the job market, it’s definitely one of the rising stars to making a company attractive to work for.   Your job is much more than just your salary or your paycheck. The people you work with become sort of like your second family, and your office your “home away from home.” You spend most your time with colleagues during the week, and most of the time they end up knowing you better than your best friends. You will grow close with your bosses and their desire to ensure you do well will increase as your relationship grows; after all...if you do well, the company does well too. You want to ensure that you will be setup to succeed and the people and environment you’re working in will be one that you can prosper. When your company invests time and money into you to help develop you as an employee, they have an incentive to keep you around and keep you happy. It is important to be challenged each day, so work to find a job you love, stick to it, and develop your skills to work your way up the corporate ladder! The people and the environment are a key component to your success!   Like I said in the beginning, we are the generation of job hoppers. With more and more college educated millennials entering the workplace, companies have had to get creative with their benefit packages to keep millennials from continuing the job to job trend. When looking for a new role or when negotiating your offer, it is ok to play hard to get! You are an asset to them...remember that. There are a lot of great benefit packages out there and it is well worth holding out for the one that best suits you. Understand your options and be selective in your decision, the choices you make today have a serious impact on your career and future.
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Let's Get Uncomfortable: The Dealings of Divorce, Separation and the Fear of the Unknown from a Banker's Perspective.
I suppose there are a lot of lighter topics that one could talk about on the dawn of a new year, however in my line of work every year around this time I find myself providing counsel to individuals and couples that have decided to go their separate ways. Generally, it's not the holidays or the new year that actually done the relationship in. Although the stress of the holidays coupled with unwanted conversations over politics with in-laws that may have over stayed their welcome certainly doesn't help a struggling couple find their way. Typically, the relationship has been broken or been breaking for a long time leading up to these conversations. It's never easy for someone to open up about personal matters such as this and quite frankly especially when there are children involved, it can be a very emotional conversation. I decided to lay out some of the biggest takeaways and advice that I could give to someone facing the breakdown of a relationship and the prospect of a divorce or separation. 1. Do not let the fear of the unknown prevent you from finding out what the state of your credit, finances and potential future options are. Knowledge is powerful, just knowing where things stand and what your options are will help alleviate some of your stress and fear. 2. If you are still in an amicable relationship and have yet to file a divorce, prior to filing it is highly, and I can't stress enough HIGHLY, recommended that you seek out a banker such as myself to lay out your potential paths. Once the divorce is filed there are a number of options that will no longer be available to you as far as home financing is concerned. 3. There is such a thing as a "win-win" when dealing with a divorce or separation. I know it can sound unlikely or seem impossible, but I've worked with numerous couples who as a result of an earnest effort on both sides, were able to find housing solutions that provided stability for the children and peace of mind for themselves. 4. Find a compassionate banker who is objective and excels at communication. This is such a touchy subject and charged with so many emotions. The last thing many people want to deal with when going through a separation is their finances. It takes a patient ear, an open heart and a lot of experience to be able to successfully guide someone through this tough time in their life. Choose your mortgage banker wisely! 5. The solution may surprise you and be something that you did not expect. Throughout the years ofworking with couples going through separations and divorces I have witnessed, structured and been a part of some very unconventional outside of the box solutions. The biggest thing that I can recommend is just having the conversation with someone who is knowledgeable and experienced in dealing with these types of situations.
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