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New Associate “Focus On You”: Melissa Heinemann

What is your role at Hiley Hunt?

I am a Client Service Associate at Hiley Hunt, where I am dedicated to supporting our advisors and fostering smooth interaction between them and their clients.

From keeping our office space tidy and replenishing snacks and drinks to preparing paperwork and entering data, I strive to ensure that our clients have a positive experience. I am also passionate about celebrating others and showing our clients how much we value their business and their trust. I believe that small tokens of appreciation can make a big difference, and I love finding ways to make our clients feel special. Whether it’s a handwritten note, a piece of chocolate, or another small gift, I am always looking for ways to show our clients that we care.

It is a joy to be a part of your story and do life together!

 

What did you do before joining Hiley Hunt?

I’m re-entering the workforce after staying at home for the past eight years to raise our four fun and amazing kiddos.  During my time at home, our days were spent enjoying playdates with friends, exploring parks and museums, attending library events and story times, and experimenting in the kitchen. Of course, no day was complete without a dance party!

Before starting our family, I worked in the non-profit sector for nearly ten years, supporting individuals and their families affected by autism spectrum disorder (ASD) and other related disorders. I have a lifelong passion for taking care of others, and I’m excited to bring that passion back into the workforce to make a positive impact in my new role at Hiley Hunt.

 

Where did you grow up?

I grew up in Vista, a city in North County San Diego, California.  The beach is our family’s happy place!

 

What do you do for fun?

Outside of work, I enjoy spending time with my family and friends, cheering our kiddos on from the sidelines at their various sporting events, trying new recipes and creating memories in the kitchen, and making flower arrangements. I’m also a big fan of volunteering in women’s and hospitality ministries at our church.

 

What is one of the most memorable experiences you have had?

One of the most memorable experiences I’ve had was a Habitat for Humanity mission trip I took to El Salvador with my husband before we had kids. We went with a team from our church to assist a family with the building of their new home. It was an incredible experience to witness their resilience and determination in the face of adversity. The people of El Salvador are some of the most hospitable, joyful, and welcoming people I have ever met. I learned so much from our time there (including how to make the national dish, pupusas, in a kitchen full of love, laughter and multiple generations!) It is a core life memory I will always cherish!

Bryce Koch Achieves Certified Financial Planner™ Certification

We are thrilled to announce a significant milestone in the career of our very own Bryce Koch. We are proud to share that Bryce has achieved the coveted Certified Financial Planner™ (CFP®) certification, marking a significant accomplishment in his journey as a financial professional.

Bryce’s dedication to the clients of Hiley Hunt and commitment to excellence in the field of financial planning have culminated in this prestigious certification. The CFP® designation is widely recognized as a symbol of competence, ethics, and knowledge within the financial planning industry. It reflects Bryce’s comprehensive understanding of financial planning principles and his ability to provide informed and tailored guidance to clients.

This achievement not only highlights Bryce’s expertise but also reinforces our commitment to delivering top-tier financial planning services to our clients. With his newly acquired CFP® certification, Bryce is poised to provide even more comprehensive and personalized financial advice, helping clients navigate their financial futures with confidence.

In the coming months, you can expect Bryce to continue his dedication to providing valuable insights, strategic planning, and exceptional client service. His accomplishment serves as a testament to his unwavering commitment to the financial well-being of our clients, and we are excited about the positive impact he will continue to make.

Join us in congratulating Bryce Koch on this outstanding achievement. We look forward to the continued growth and success that this certification will bring to both Bryce and our valued clients.

Stay tuned for more insights, updates, and financial guidance from Bryce and our team. Thank you for entrusting us with your financial goals and aspirations.

Introducing the Hiley Hunt Client Portal App for iPhone and Android

We are thrilled to announce a significant enhancement in our client services at Hiley Hunt! Our firm is now more accessible than ever with the launch of the Hiley Hunt Client Portal App, available for both iPhone and Android users. You can easily find and download the app from the App Store by searching for “Hiley Hunt.”

This new app simplifies and streamlines your experience with Hiley Hunt, making it more convenient to access your accounts and collaborate with our team. The best part? Your login information remains the same as your existing Client Portal credentials, ensuring a seamless transition into this improved platform.

Key features of the Hiley Hunt Client Portal App include:

  1. Easy Account Access: Gain instant access to your accounts, financial information, and documents on-the-go.
  2. Real-time Updates: Stay informed about your investments and financial progress with real-time updates and notifications.
  3. Document Sharing: Easily upload and share important documents, reducing the hassle of physical paperwork.

We are committed to providing you with the best tools and resources to manage your finances effectively. The Hiley Hunt Client Portal App is a testament to our dedication to enhancing your client experience.

Download the app today and experience the future of financial management with Hiley Hunt. We look forward to your feedback and are excited to continue serving you with excellence.

Stay tuned for more updates, and thank you for choosing Hiley Hunt as your trusted financial partner.

Empowering Women: The Importance of Planning Your Estate

Everyone should plan their estates, but it is especially crucial for women. Whether you are a single woman, a mother, or a wife, planning your estate can provide peace of mind and ensure that your loved ones are taken care of after your death.

One of the main reasons why women need to plan their estate is that they often outlive men. This means that women need to be prepared for the possibility of living a longer life without their spouse or partner. Estate planning can ensure that you have enough financial resources to live on and that your assets are protected and distributed as you wish.

Different roles and responsibilities for women

Another important reason for women to plan their estate is that they often have different roles and responsibilities than men. For example, women are more likely to be the primary caregivers for children and elderly parents. 

Women have traditionally been underrepresented in the financial industry and may need more money management experience. Estate planning can be a way for women to take control of their financial future. By planning your estate, you can take steps to understand your financial situation and make decisions that align with your values and goals.

Leaving a legacy

Lastly, estate planning can also be a way for women to leave a legacy. Whether you want to leave money to your children or grandchildren or donate to a cause you are passionate about, estate planning can help ensure that your legacy lives on after you are gone.

Overall, estate planning is essential for women at any stage of life. It can provide peace of mind, ensure that your loved ones are taken care of, and give you control over your financial future. Don’t wait; start planning your estate today. Contact us to get started if you’re ready to discuss your financial future. 

How Widows Can Protect Their Assets During Market Fluctuations

*This article is intended as informational and should not serve as advice regarding your specific financial situation. 

Investing can be daunting for anyone, but it can be especially challenging for widows. Losing a spouse can bring financial and emotional hardships that make it difficult to think about the future. Therefore, it is essential for widows who want to secure their retirement to engage in financial planning.

Part of financial planning is looking ahead and planning how best to protect your investments during market fluctuations. A variety of investment strategies can be tailored to your individual situation. A financial plan can help you identify and plan for potential risks while providing guidelines to ensure that your assets are adequately protected. Additionally, having the right support system is essential in helping you manage your finances and confidently make decisions.

 

Understanding Market Fluctuations and Retirement Planning 

Retirement planning should include an understanding of the various investment strategies available and a plan that considers potential risks and ways to mitigate them. A financial advisor can help develop a strategy tailored to your individual needs and objectives. It is essential to keep an eye on the markets and be aware of any changes in the economy that could affect your retirement plan. While the stock market can be unpredictable, understanding the risks associated with market fluctuations is key to successfully navigating the markets. By understanding how markets fluctuate, you can make smart decisions about your investments and ensure that you can retire comfortably.

 

Investment Strategies for Widows

When it comes to investing, widows might look for low-risk investments that offer steady returns over time. This could include dividend stocks, bonds, and income focused mutual funds. These investments can provide steady income while also protecting the principal investment. Widows should also consider investing in a retirement plan such as an IRA or 401(k). These plans offer tax-advantaged growth and can help widows save for retirement.

It is also important for widows to maintain an emergency fund in case of unexpected expenses. This fund should be kept in liquid assets such as savings accounts or money market funds. This fund can give widows peace of mind that they can pay for any unexpected costs.

Widows should create a comprehensive financial plan that includes short-term and long-term investments. With a sound investment strategy, widows can ensure their financial security for years to come.

 

Protecting Assets in Retirement 

Protecting your assets in retirement is an important part of financial planning. This includes creating a retirement account and taking advantage of any government programs that may help. 

Additionally, widows should be wary of scams or any other financial risks they may be exposed to. When in doubt, they should seek the advice of a financial planner or a retirement planning expert. Ultimately, the key to protecting assets in retirement is to plan ahead and be prepared for any potential risks. With the right retirement plan and some vigilance, widows can ensure their assets are well-protected, and their financial future is secure.

 

Conclusion

With the loss of a spouse comes all sorts of financial and emotional hardships that can make it challenging to think about the future. As widows continue to age, they may worry that they will be unable to adequately support themselves through retirement. A well-structured financial plan can help you to achieve these goals. Contact us today to get started.

The Importance of Women Planning Their Estate

This article offers general information about estate planning. Please consult with an estate planning attorney about how best to plan your estate.

Estate planning is an essential part of financial security that all women should consider. You need to take proper steps to plan your estate to avoid finding yourself in a situation where your assets are distributed according to your wishes or to the people who may depend on them. Proper estate planning ensures that your loved ones will be taken care of financially while allowing you to choose who will manage your estate after your death.

Estate planning is an important part of ensuring financial security. Estate planning can help to protect assets from taxes, lawsuits, and creditors. Yet, many women do not take the time to plan their estates. Fortunately, there are simple steps that can be taken to get started. The first step is to identify all the assets that need to be included in the estate plan.

 

What to include in your estate plan

Every woman should have these primary documents in place:

 

Why should women plan their estates?

Everyone should plan their estate regardless of their net worth or marital status. Let’s look at four critical reasons this is especially important for women.

Women usually outlive men

An effective estate plan is essential for any woman who wants to ensure that her financial assets are protected and distributed as she wishes after her death. Women tend to live longer than men and therefore have a longer time frame to consider when estate planning. It is important to review your estate plan frequently and ensure that the documents are up-to-date and reflect your current wishes. An estate planning attorney can provide guidance and help create a comprehensive plan that meets your individual needs.

Women are more likely custodial parents

With 84% of custodial parents being women, it is essential to adequately plan for the care of any minor children in the event of their death or incapacitation. Providing a guardian to ensure that your children are raised according to your beliefs and values, as well as providing trust funds to finance their upbringing until they are of age to make their own decisions, are just a few steps in the estate planning process that should be taken into account when developing a comprehensive plan. A thorough and organized estate plan can ultimately protect your children’s future and provide peace of mind.

Women contribute to the workforce

Whether they are the top earners in their households or not, career-driven women contribute to their household’s income and should be involved in the decision-making of the estate plan. Career-driven women can have peace of mind knowing that their goals and objectives have been met by having a comprehensive plan that covers both their personal and financial futures. 

Some women sacrifice their careers for family

Not all women have an uninterrupted career history. Some women take a break from work to raise children due to family responsibilities. This break in work can reduce the savings these women accumulate for retirement. Therefore, an organized estate plan can help with transferring of assets. 

As trusted financial advisors, we want to help empower women to make these important financial decisions. If you don’t know where to start and are looking for guidance, don’t hesitate to contact us today.

What You May Not Have Known About Required Minimum Distributions

This article serves as a general overview of RMDs and what you might not know. Regarding tax laws and the IRS, it is always best to review the most up-to-date information available on their website about required minimum distributions. We also highly recommend working with a certified tax accountant who can advise you on the most current information.

 

Defining required minimum distributions

A required minimum distribution (RMD) is the amount of money that owners and qualified retirement plan participants must withdraw from employer-sponsored retirement plans, traditional IRAs, SEPs, or SIMPLE IRAs once they reach retirement age. You will usually have to calculate the RMD for each account separately if you have more than one.

 

What purpose do RMDs serve? 

Because traditional IRAs and 401(k) plans use pre-tax dollars, the IRS imposes RMDs to prevent individuals from avoiding paying the deferred tax liability owed on those contributions. In short, RMDs safeguard against people using a retirement account to avoid paying taxes. 

 

When do RMDs start?

Individuals must take minimum distributions from qualified retirement accounts at age 72. Before the year 2020, the RMD age was 70½. The SECURE Act of 2019 changed the distribution rules for some inherited IRAs, effectively eliminating the “stretch IRA”—an estate planning strategy that extended the tax-deferral benefits of IRAs.

IRS penalties apply if you do not take your RMD after 72. The amount not withdrawn will be taxed at 50%.

 

Inheriting an IRA

A person inheriting an IRA must take the same RMD as the account owner for the year of their death. For years following the account owner’s death, however, your RMD will depend on your identity as the designated beneficiary. 

 

You may still need to take RMDs even if you’re still working

If you continue working past age 72, you must take an RMD from your IRA. However, you may qualify for an exception from taking RMDs from your current employer-sponsored retirement accounts, if:

You may delay taking an RMD from the account until April 1 of the year after you retire if you meet all the criteria above. Some qualified plans allow certain participants to defer the start of their RMDs until they retire, even if they are older than 72. Qualified plan participants should check with their employers to determine whether they are eligible for this deferral. This would not apply to IRAs or other accounts you may have with former employers.

 

Retirement planning

Planning for your inevitable retirement can be a complex and overwhelming task. Helping people plan for their retirement is what we do. If you’re looking to start investing in your retirement, want to change your strategy, or need some guidance as you approach retirement age, we’re here to help. Contact us today to get started.

How to Balance Investing with Real Life in Your 30s

As financial advisors, we will shout from the rooftops the importance of investing as early as possible. But we also understand life circumstances don’t always make that a simple task.

In your 20s, you’re working your way out of college, often with a lump of debt. Your first thought isn’t likely to start putting your money into an investment vehicle. 

And by the time you reach your 30s, it seems like life is really picking up its pace. This period of your life is often filled with significant and expensive life events such as getting married, buying a house, and starting a family. 

 

Prioritizing Your Goals

In your 30s, you’re likely settling into your career and earning more money than in your 20s. Your 30s require a delicate balance of investing for your future and holding onto your cash for current life events. You must determine what you need now and what can be invested later.

To do this, you have to identify your goals. For many people, financial goals can be divided into these general categories:

 

  1. Take care of your immediate needs first — these are your daily recurring expenses, such as food, housing, clothing, and transportation. An emergency fund should cover at least six months of these costs.
  2. Ensure your family’s needs are met — in the event of your death, you want to ensure your family will be taken care of and have access to the wealth you’ve accumulated. This is done by completing a will and trust and purchasing life insurance.
  3. Invest for your future — Saving for retirement with your employer’s 401(k) or IRA and your children’s college funds are important investments
  4. Plan for significant events — Want to take a family vacation? Buy a house? Purchase a new car? These are major purchases that need to be saved for.
  5. Finding the Right Advisor

 

When you sit down and decide on what goals you want to save for, it can be overwhelming to determine how you can reach those goals. The role of a financial advisor or wealth manager is to help you create an investment strategy that works for your current situation. As time progresses and your life events fluctuate, your advisor will recommend new strategies to keep you on target. 

At Hiley Hunt, our clients are individuals and families looking for a partner to provide personalized, unbiased, and coordinated advice. If you’re new to investing or are looking for a new partner to help you reach your financial goals, we’d love to chat with you. 

 

Planning Your Estate? Here’s What to Consider

Estate planning is the preparation of tasks that serve to manage an individual’s asset base in the event of incapacitation or death. 

Anyone who owns assets, regardless of their size or value, should plan their estate. By planning your estate, you determine who will receive your assets upon your death or if you are incapacitated. The planning includes transferring assets to heirs and settling estate taxes. Most estate plans are set up with the help of an attorney experienced in estate law. In order to ensure the fulfillment of your wishes, it is important to choose who will manage your estate. It’s also crucial to identify and estimate the value of your assets when deciding who will receive them. Listed below is what to consider when planning your estate.

Tangible vs. Intangible Assets

Your tangible assets are your physical possessions. This includes property, such as a house or land; automobiles; coins, trading cards, and other collectibles; furniture, clothing, and other personal belongings.

Intangible assets, however, are not physical items, but financial accounts, for example. This includes checking and savings accounts; individual retirement accounts (IRAs) and 401(k)s; mutual funds, stocks, and bonds; policies that cover life insurance; business ownership; and a health savings account.

Calculating the Value of an Asset

After identifying your assets, you need to estimate their value. To assist with estate planning, recent appraisals of your real estate and financial statements of your accounts can be useful outside valuations. If you do not have these valuations, estimate the value of these items or how your heirs will value them so that you can divide your assets accordingly.

Estate Tax Planning

Before assets are distributed to beneficiaries, federal and state taxes can significantly reduce their value. The death of a family member can result in substantial tax liabilities, necessitating generational transfer strategies to reduce, eliminate, or postpone taxes.

Individuals and married couples can take significant steps to reduce the impact of these taxes during the estate planning process. Your estate planning attorney can advise you on strategies to mitigate estate taxes.

Estate Debts and Judgments

Remember to keep track of any unpaid debts or judgments you may have when planning your estate. Your estate has the right to collect repayment on a loan or judgment proceeds if you lent or won money.

If you’re looking to reach your financial goals, we’d love to help. Our team can help you plan for your ideal retirement or build wealth for future generations. Get in touch with us today to schedule an introductory consultation.

How the Power of Language Shapes Investment Decisions

In an industry that revolves around data and numbers, it’s surprising how powerful words can be in wealth management and investing.

Right now, the word “recession” is being shouted from media outlets across the U.S. And that word holds powerful sway in the decisions of investors. 

In the world of finance and wealth management, we use the terms bear and bull markets to describe fluctuations in the economy.

Right now, we’re in a bear market. Let’s take a look at what that really means.

Defining Bear and Bull Markets

When the S&P 500, Dow Jones Industrial Average, or even an individual stock, has fallen 20% or more from its recent high for a sustained period of time, it is called a bear market. Why attribute it to a bear? Because bears hibernate, representing a market that is retreating. When the stock market is surging, it’s called a bull market because bulls charge.

Interest rates are the current challenge. They are rising as a reaction to inflation. This will slow the growth of the economy by making it more expensive to borrow money. The war in Ukraine has also put upward pressure on inflation by raising the price of commodities.

“With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future.” — Carlos Slim Helu

Investor Psychology

The market’s behavior is influenced and determined by the perception and reaction of individuals. There is a direct correlation between stock market performance and investor psychology (how investors view the market). Investors participate in bull markets in the hope of making a profit. In a bear market, investors move their money out of equities into fixed-income securities as they await a positive move in the stock market. When stock markets decline, investors stay out of them. Share prices drop as a result. 

What Do I Need to Know About the Current Economy?

In order to make an informed investment decision, you should understand what the market is doing during both bear markets and bull markets. The terms, however, are lagging terms that describe what happened in the past. While in the middle of a bull or bear market, it is impossible to predict where it will go. Investing is a long-term strategy. It is important for every investor to consider his or her time horizon. One of the best indicators of success is the ability to maintain an investment strategy over time. 

Terms like “inflation,” “recession,” and “interest rates” can cause a lot of anxiety for investors. But it’s important to remember they are just words. The economy ebbs and flows, and bears come out of hibernation to see bulls charge ahead. However, unlike Mother Nature, we can’t predict when one season ends and another will begin.

What We’re Reading This Summer

Summer is in full swing, and we’re hoping our clients are finding some time to relax, unwind, and have a little fun. 

Summer is also a great time to pick up a book (or pop in some earbuds), so we put together a list of what we’re reading this summer in case you need some suggestions!

What Andrew’s Reading

Andrew has been enjoying listening to audiobooks this year. Here’s what he recommends:

Greenlights by Matthew McConaughey

The audiobook is narrated by McConaughey and recounts his thoughts on his life so far. It’s moments of joy and sorrow, successes and failures, and everything in between to hopefully inspire readers to catch more “greenlights” in their life. It’s a #1 New York Times Best Seller and named one of the best books of the year by The Guardian.

Atomic Habits by James Clear

If you’re into self-improvement books, Atomic Habits provides a framework for improvement every day by one of the world’s leading experts on habit formation, James Clear. With an audio runtime of just over five and a half hours, this could be a great listen for a road trip. 

In the Blood by Jack Carr 

What’s summer without an exciting political thriller novel? In the Blood is the latest book in the thriller series featuring James Reese — a former Navy SEAL. The first novel, The Terminal List, comes out as an Amazon Prime series this summer, which Andrew is looking forward to watching.

A Promised Land by Barack Obama 

Politics aside, this autobiography read by President Obama is a great reminder of a season full of change and trials. This book brings Andrew straight back to his 20’s. 

Bryce’s Reading List

The newest associate at Hiley Hunt, here’s what Bryce is reading this summer.

Think Again: The Power of Knowing What You Don’t Know by Adam Grant

With all the recent changes we have experienced in the world, Bryce is hoping this book helps him obtain a new understanding of how to rethink and unlearn currently molded thoughts and beliefs, ultimately allowing himself to build new perspectives and continue to be a lifelong learner.

Game: An Autobiography by Grant Hill

Bryce loved playing basketball and watching Grant Hill, so he’s excited to learn more about Grant Hill’s personal story.

Endure: How to Work Hard, Outlast, and Keep Hammering by Cameron Hanes

As an avid outdoorsman, this part memoir, part motivational book is one Bryce is sure to enjoy. If you’re looking to push beyond your limits, this could be a good choice.

Jason’s Picks

Hyperion by Dan Simmons

A fan of classic science fiction, this one is at the top of Jason’s reading list. 

Hymns of the Republic by S.C. Gwynne 

Jason is also interested in history, and he’s taking a break from World War II history to learn more about the Civil War in this epic account of the dramatic conclusion of the Civil War.

Just Keep Buying: Proven Ways to Save Money and Build Your Wealth by Nick Maggiulli 

This is the first book by a finance blogger that Jason has enjoyed reading. It includes pretty timely advice given the recent returns of the market.

That’s what’s on our summer reading list this year! We’re always looking for new books to read, so drop us a suggestion if there’s something we should check out!

Advice to Remember During Scary Markets

As a financial advisor, one of the most common questions I receive is, “How will this market affect my investments?” Watching the markets fluctuate can be difficult. During times like these, I like to circle back with clients to remind them of some key advice. 

Remember the evidence.

The long-term trajectory of the market is upward. There will be peaks and valleys as the market makes its way up that we must endure. We can tolerate the irrational behavior of the stock market because of the returns they yield in the long run. For money you may want in the near term, options like bonds and savings accounts are where you want to keep this money. These accounts don’t endure the ups and downs of the stock market and are a safer option for short-term investments.

Manage your exposure to breaking news.  

Turn off the news, log off your social media, and get out into nature or watch something funny on TV. Modern-day media is designed to shock or scare you to get your attention. Everything is a crisis. We know stocks go down; it happens regularly. It’s not a glitch in the system, but a feature of the stock market. Find a way to limit your exposure to sensational news and trust the historical evidence of markets recovering. 

Talk to us. 

The thing about the stock market is it doesn’t provide an accurate timeline of when it will take a turn. We never know how severe it will be or how long it will last. But we do know markets inevitably tank now and then, and we also fully expect they’ll eventually recover and continue their upward trend. 

 

graph

 

Visuals can be very helpful during times like these. I love this chart because it explains why we invest in stocks for the long term. Given time, the U.S. stock market has consistently produced gains for investors that can stay the course. 

If you have questions about your investments or are ready to build a successful investment portfolio, please feel free to reach out to us. To learn more about what you can do during down markets, read this article.