April is one of the best months of the year because spring is in the air and includes my favorite event of the year, the Drake Relays. Watching some of the world’s best athletes compete in Des Moines, Iowa is simply magical. Not only are world class athletes in attendance, but athletes from colleges and universities, high schools, middle schools, and even elementary schools. I grew up running the 100 meter...
Read More
I wish I had a dollar for every time I was told to “hold still” when I was a kid. I also wish I had a dollar for every time I’ve been asked if I was Dr. Rinderknecht’s son! I’d be retired if I got paid for either scenario! But you know, growing up is HARD! We had a lot to deal with…riding our bikes, climbing trees, playing basketball all...
Read More
Foster Group has a vision to “… encourage the pursuit of meaningful living and generous giving.” What does that mean to you? It’s a question worth pondering, and one with a wide variety of right answers. If your answer has anything to do with leaving a legacy in your community, I have an opportunity for you! The Endow Iowa Tax Credit Program was created by the Iowa legislature in 2003...
Read More
This year promises to bring change. Some good, some bad. What’s good and bad is simply a matter of one’s perspective. The Affordable Care Act is one item high on the list of potential changes. Those changes won’t come without much debate. What that means to physicians in the form of regulation, requirements, hours, lifestyle, liability, and revenue stream is yet to be seen. The ever-present threat of change really...
Read More
Recently, I flew to San Francisco for a tour of Coast Guard Island with two of my daughters. We had a fantastic trip, and left with a great appreciation for the significant role the Coast Guard plays in our nation’s defense. But that role is not an easy one – there is much turbulence in the water, the air, and the environment as they daily address hostile drug runners, uncooperative...
Read More
Simon Sinek’s well-known TED talk, “Start with Why” is centered around the concept that an organization should start with their “why” and encourages individuals and companies to ask themselves questions to identify their beliefs, purpose, and why they get out of bed in the morning. One statement Sinek made in his presentation that stood out to me was, “Very few people and organizations know why they do what they do.” As...
Read More
By Jay P. Syverson of Nyemaster Goode
Probate is the process by which a person’s estate is settled after death. Final bills are paid, final taxes are filed, and assets are collected and distributed to the beneficiaries. The entire process is supervised by the court, usually takes 9-12 months, and comes with expenses – court costs and attorney fees – that can exceed 4% of the estate. Additionally,... Read More
The concept is simple, but often gets overlooked, especially in our profession. As financial planners, we spend a lot of time discussing with clients how to pass assets (what they earned) to the next generation in the most efficient way. Typically, the goals are to ensure taxes and fees are minimized, assets are passed to the appropriate parties, and the individuals inheriting the wealth are financially mature enough to handle...
Read More
Gift with a tax deduction? In most instances, if you give a gift to a family member, you not only don’t receive a tax break, but you need to be mindful of the amount of the gift in case a gift tax return needs to be filed. Wow. That sentence just put me to sleep. Let’s try that again. I want to help my kids and/or grandkids prepare to pay for college. Is a...
Read More
For many years, Foster Group has approached asset allocation using an analysis we call our Lifeboat Drill. Setting a proper mix of growth assets like stocks or real estate, and preservation assets like bonds, begins with understanding our clients’ future cash flow needs. – First, we explore the minimum return rate you must earn on your portfolio assets to meet all of your anticipated future cash flow needs. Quantifying this return allows...
Read More