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Monday, October 21, 2019

Over my 30+ years in the financial planning field, I have walked with my clients through many retirement challenges. A partial list of events our clients have witnessed and survived include two Persian Gulf wars, a presidential...

 

Tuesday, October 15, 2019

Over the years, I have had two groups of clients that had the biggest struggle to overcome in the early years of their retirement. The first group of clients retired in late 1999 or early 2000, right as the dot.com bubble was starting...

 

Monday, October 7, 2019

In over 30 years of helping people accumulate the resources needed to make the successful transition from work life to retirement life, there have been many challenges that we have faced. Natixis Investment Managers recently released...

 

Thursday, September 26, 2019

This year, Impel Wealth Management was honored to join other local businesses by attending the 18th annual Employee of Distinction Awards luncheon, presented by Goodwill. The luncheon honors nominees from local employers who are...

 

Tuesday, September 17, 2019

Clients are sometimes initially surprised when we ask them questions about their health care insurance premiums, prescription drug costs, deductibles, and dental expenses. However, as we delve further into their out of pocket medical...

 

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Tuesday, September 10, 2019

Over the next 14 months, leading up to the next general Congressional and Presidential election, you are going to be inundated with information and statistics. As I have listened carefully to much of what has been shared to this point,...

 

Thursday, September 5, 2019

I don't believe that anyone will ever mistake, "Live From Denver" with "Live From New York, It's Saturday Night". However, on the Tuesday morning of Cetera's recent Connect Conference in Denver, I had a new experience. I was...

 

Thursday, August 29, 2019

The teams at both Impel Wealth Management and our partners at Horizon Financial Group participated in a meaningful way at Cetera Financial Group's recent Connect Conference in Denver, Colorado. Connect is the annual education...

 

Tuesday, August 20, 2019

It's hard to believe that summer is almost over and it is time for kids to head back to school. For many of our clients, this means either getting kids ready to return to grade school, or perhaps even sending them off (or back) to...

 

Tuesday, August 13, 2019

A recent poll by UBS of 3,652 women around the world found the majority continue to defer the financial decision-making process to their spouse. There were over 2,200 married women with at least $1 million of investable assets included...

 

Tuesday, August 6, 2019

I am blessed to have so many clients that I enjoy spending time with. They share many deep and personal stories about what is happening with work, life and family. We take the responsibility of managing those relationships and...

 

Thursday, August 1, 2019

It may seem like a long time ago, however, on August 26 of 2014 the S&P 500 closed above the 2,000-point level for the first time ever. At the time there was much rejoicing as a new, major milestone had been set. On Friday, July 12,...

 

Monday, July 29, 2019

For the clients of Impel Wealth Management, there were many good things that came as a result of the 2017 tax law changes. The tax code was simplified, eliminating many deductions and loopholes. The standard deduction was doubled for...

 

Tuesday, July 9, 2019

I was recently honored to be able to attend Cetera's Circle of Excellence Conference. Only the top 15% of all advisors of the broker-dealer are invited to this prestigious annual event. This points to the caliber, accomplishment and...

 

Tuesday, June 25, 2019

In October 2018, interest rates on 10 Year Treasury Bonds peaked at approximately 3.25%. As of early June 2019, these rates have dropped to less than 2.10%. This is a dramatic move in interest rates in both absolute and relative terms...

 

Tuesday, June 18, 2019

For those of you who may not have seen the recent news, there are two important developments in the greater Akron and Summit County areas that we thought you should be aware of. First of all, GettingWiser.org is a website that was...

 

Tuesday, June 11, 2019

In late April, Mary Beth Franklin, a nationally known Social Security expert and author came to visit the Akron area. The University of Akron Foundation hosted her at Portage Country Club for an educational session which both Nathan...

 

Tuesday, May 21, 2019

Recently, the House Ways and Means Committee voted unanimously in favor of legislation which could have dramatic impacts on how people plan for and save for their retirement. A few key parts of the legislation include making it easier...

 

Tuesday, May 14, 2019

Ever since William Bendgen's article, "Determining Withdrawal Rates Using Historical Data" appeared in the October 1994 issue of the Journal of Financial Planning, advisors have been utilizing this study to guide clients on how much...

 

Tuesday, May 7, 2019

In light of the spring home buying and selling season kicking off here in Northeast Ohio, I recently wrote a blog post for Simplifynance, our next-generation financial planning service offering, on my wife Lauren and I's journey to...

 

Monday, April 29, 2019

Impel Wealth Management moved into our new home at the corner of Broad Blvd and 4th Street in Cuyahoga Falls in April 2017. As we come upon our two-year anniversary, we have much to celebrate. Impel Wealth has continued to grow. When...

 

Tuesday, April 23, 2019

Ever since George W. Bush was elected to a second term in office in 2004, there has been discussion that the nation's Social Security system needs attention in order to keep it as a viable and solvent social safety net for Americans,...

 

Monday, April 15, 2019

One of the things that many of our clients look forward to as they transition from their work life to their retirement life, is being able to start traveling more extensively and checking long dreamed of places off their bucket list....

 

Monday, April 8, 2019

According to a new report from Retirement Living, "Retirement Preparedness Study 2019: Baby Boomers vs. Generation X", it appears that Baby Boomers are much more confident that they will have enough money to live comfortably in...

 

Tuesday, April 2, 2019

For everyone who has been in my office, you know that I am a huge fan of Dr. Seuss. From my earliest days of reading before kindergarten, these books were a staple of my childhood. I loved the stories, the amazing illustrations and...

 

Tuesday, March 26, 2019

As Impel Wealth Management has continued to grow, we faced a dilemma in helping our next generation of potential clients. Many of our existing clients, who are mostly 50-80 years old, initially came to us wanting to be able to retire...

 

Monday, March 18, 2019

As I mentioned last week, our team came together in early January for our annual planning retreat. Each year as part of this event, we spend time reviewing our corporate goals. We decide which goals we will try to have accomplished by...

 

Wednesday, March 13, 2019

Early each year the team at Impel Wealth Management takes one of the federal holidays, when the markets are closed, to conduct our team retreat. This year's retreat was special and meaningful in a couple of different ways. First of all...

 

Tuesday, March 5, 2019

Recently, I had the opportunity to attend Cetera Advisors' "Fast Forward" conference in Houston. This annual event is an advisor-led conference, along with some of the key members of Cetera Advisors home office staff. The conference...

 

Tuesday, February 26, 2019

As many of our clients move into retirement, they start thinking about when they will downsize or move to a smaller place that is easier for them to maintain. For some clients, they want to get to a home that is all on one floor, so...

 

Monday, February 11, 2019

"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it...

 

Wednesday, February 6, 2019

Years like 2018, when markets are moving up and down hundreds of points a day, can make staying the course and being disciplined with our diversification a difficult and emotional proposition. These feelings are exacerbated by the...

 

Thursday, January 17, 2019

At Impel Wealth Management, we take pride in being students of the business. This takes place in many forms for our team. For me, it means reading 500-600 pages of economic and investment data monthly, roughly half of which is...

 

Wednesday, January 9, 2019

As many clients are approaching retirement they would like to know if they should pay off their mortgage? The goal is to cut monthly expenses by getting rid of principal and interest payments throughout their retirement years. This can...

 

Thursday, January 3, 2019

Personally, I have never been big on New Year's Resolutions. To me, if something is that important, then I would be doing it already in the first place (hopefully). However, this year I plan on trying to keep one, and thought I would...

 

Tuesday, December 18, 2018

I started in the financial planning industry in late August 1987, just a few weeks before Black Monday, when selling pressures in the stock market accelerated and by the end of the day the Dow Jones Industrial Average had dropped...

 

Tuesday, December 4, 2018

By now, I am sure you have seen the headlines: "The U.S. Student-Loan Debt Crisis Is Even Worse Than We Thought" - Forbes, May 24th, 2018 "Despite the economic recovery, student debtors' 'monster in the closet' has only worsened" -...

 

Wednesday, November 28, 2018

On November 1st, the IRS announced that there will be cost-of-living adjustments to the limits on employee contributions into retirement plans for 2019. The annual limit for employee contributions into 401(k)s, 403(b)s, most 475 plans,...

 

Monday, October 29, 2018

As we approach Halloween this week, it seems that global markets have gotten spooked by the perfect storm of economic chills. A trifecta of issues has caused fear and selling in stock markets around the world: 1) Trade/Tariffs Issues...

 

Monday, October 15, 2018

The World Economic Forum recently released its latest jobs forecast, and it is projecting substantial changes to the employment market over the coming decades. Machines currently do approximately 29% of all the hours worked in major...

 

Monday, October 1, 2018

Experts are closely watching the projected CPI/inflation numbers to get an idea of how much Social Security benefits could potentially increase in calendar year 2019. According to the Senior Citizens League, non-partisan advocacy...

 

Monday, September 24, 2018

According to a recent study by Fidelity, a 65-year-old couple retiring this year will need nearly $275,000 to cover health care costs during their retirement years. This unbelievably large amount is even more pronounced when you...

 

Tuesday, September 18, 2018

In the wake of the 2008-09 financial crisis, the Federal Reserve Bank cut rates to near zero and left them there for almost seven years. Since December 2015, the Fed has embarked on a campaign to normalize interest rates. In this...

 

Tuesday, September 11, 2018

Over the next 90 days, heading into the mid-term elections, you are likely going to be hearing much about immigration and its impact on our great country. This is not a new subject for Americans to deal with. The link to the video...

 

Thursday, August 30, 2018

The financial planning industry has spent significant time helping people appropriately spend and save so that they can build a large nest egg so that they will be able to retire comfortably. However, we need to realize that life is...

 

Monday, August 13, 2018

It's a sellers' market, so homebuyers need to be even more prepared than ever to confidently shop for, bid on and pay for a home. As with all things financial, planning is key. Whether buying your first home or downsizing to your last...

 

Monday, July 23, 2018

According to the Social Security trustees report of 2018, over the last 35 years, from 1983 to 2017, the Social Security program has taken in more money each year than it paid out in benefits. Total revenue each year includes FICA...

 

Thursday, July 12, 2018

For calendar year 2017 nearly 32 million tax filers claimed mortgage interest as an itemized deduction on their 1040 tax return. With the passage of the most recent tax law in December, that number is expected to drop to only 14...

 

Wednesday, May 16, 2018

In over 30 years of working with clients on their financial and retirement plans, I have noticed a very definite trend. Clients, no matter how much money they have, tend to spend those resources in approximately five major areas....

 

Tuesday, May 8, 2018

Nearly 1/2 of all Americans have had the experience of providing care for a spouse or parent, or they believe they will end up in this role in the future. According to a recent Northwestern Mutual C.A.R.E. Study released in March,...

 

Friday, April 20, 2018

For many people, the process of choosing a financial advisor can be both overwhelming and intimidating. There are hundreds of options available, and you’re trusting someone to manage not just your financial investments—but...

 

Wednesday, April 18, 2018

In 1996 Stanley and William Danko authored the book "The Millionaire Next Door: The Surprising Secrets of America's Wealthy." The book compared the behaviors of high income families that tended to live very affluent lifestyles,...

 

Wednesday, April 4, 2018

Each year Forbes Magazine creates a list of the Best-in-state Wealth Advisors. The 2018 list was released in February and I am very pleased and honored to say that I and the team at Impel Wealth Management were honored to be included...

 

Thursday, March 22, 2018

Today, many more young people are graduating college, moving into the workforce and having a harder time of obtaining the American dream of owning a home. The simple reason for this is that the amount of student loan debt they carry...

 

Tuesday, March 6, 2018

There is significant and increasing pressure on parents and even grandparents to try to help their children and grandchildren deal with the rising cost of financing their college education. Oftentimes, clients are torn between helping...

 

Thursday, February 22, 2018

I oftentimes get questions from clients about the issues surrounding the annual budget deficit, the U.S. debt, the shortfall in Social Security, and what this means to the future of the United States. A recent research paper and...

 

Tuesday, February 13, 2018

When planning for retirement, many people target specific age and income goals. However, a new research paper from the National Bureau of Economic Researchentitled "The Power of Working Longer" states that people should approach...

 

Tuesday, January 30, 2018

Many of our clients, as they create their estate plans, execute a number of documents including wills, trusts, a durable power of attorney for legal and financial issues, a medical or healthcare power of attorney, as well as a HIPAA...

 

Tuesday, January 23, 2018

In the first part of our discussion about increased life expectancy, we discussed how healthcare advancements are leading to people living longer lives. Today we want to discuss what that phenomenon means to clients trying to plan for...

 

Tuesday, January 16, 2018

Historical data from the Center for Disease Control shows that between 1950 and 2010, a period of just 60 years, life expectancy in the United States increased by approximately five years, 4.9 years for males and 4.3 years for females....

 

Tuesday, December 5, 2017

As was widely expected, the Centers for Medicare and Medicaid Services announced that the 2018 Medicare Part B premiums will increase for most Medicare enrollees from $109 per month to $134 per month, an increase of 23%. It will be the...

 

Wednesday, November 15, 2017

The Social Security administration recently announced that Social Security benefits for nearly 66 million Americans will increase by 2.0% in 2018, representing the largest increase in retirement benefits since 2012. The last several...

 

Tuesday, November 7, 2017

With markets sitting near all-time highs, many people are nervous about investing new money in the markets these days. It has been a number of years since we had had a significant pull back. The pull backs that we did have more...

 

Monday, October 23, 2017

Previously, we have twice discussed some unique facts about the Millennial Generation, who were born between 1980 and year 2000. We have talked about the fact that that they represent the largest generation in history, beating out the...

 

Thursday, October 19, 2017

In early July, the Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds. The trust funds are projected to become depleted in 2034, the same as they were...

 

Tuesday, September 26, 2017

We have not heard much about inflation recently, as it has been very subdued over the last 15 to 20 years. However, a recent study sponsored by Allianz Life of 1,213 US adults in July of 2017 noted that inflation is still a top concern...

 

Thursday, September 14, 2017

One of the questions I get on a very regular basis from clients is "How much money do I need to be able to retire successfully?". This is a very individualized and personal question, as it is significantly correlated to how much money...

 

Wednesday, September 6, 2017

In a previous blog, we explained the size and impact of the Millennial generation, the children and/or grandchildren of most of our clients. Many people have been impacted by the Baby Boomer generation over the last 50 years, since...

 

Tuesday, August 29, 2017

In 1997, I was one of three founding partners of a new financial planning and investment advisory firm. When we formed Millennial Group, the name was born out of all the discussion, excitement, and anticipation about the turn of the...

 

Wednesday, August 23, 2017

In 1994, I was meeting with a couple, and the husband had recently been offered an early retirement buy out from a local company here in Akron. At 57 years old, he had less than 30 days to decide if he was going to retire and take the...

 

Monday, August 7, 2017

For many years, there have been two different standards of care and conduct within the financial planning and investment world. There has been a less stringent "suitability" standard that applies to registered representatives, such as...

 

Tuesday, August 1, 2017

A unique trend is starting to impact people who are retiring in the United States. Retirees who are worried about running out of money are starting to consider retiring abroad. Some overseas locations will allow retirees to live a...

 

Tuesday, August 1, 2017

Planning for retirement is a relatively recent phenomenon that only began in the 20th century. Prior to this, most people's life expectancies were short enough that they typically worked until they passed away. The idea of accumulating...

 

Monday, July 10, 2017

June 20th was a special day for Impel Wealth Management. After months of work rehabilitating a 100+ year old building on the corner of Broad Boulevard and 4th Street in Cuyahoga Falls, we were able to celebrate a ribbon cutting...