Welcome to MONTH-2-MONTH, an e-Newsletter from Alexander Financial Planning, Inc. MONTH-2-MONTH is intended to provide you with updates on AFP and timely financial planning and investment information on a variety of topics. You are welcome to forward this e-mail on to others.
As we are rounding the corner on "Tax Season" and Spring has officially arrived, now is a good time to address clutter. Do you have too much stuff? Many of us accumulate things without considering if we need or truly want them. Do you have space to store them? It is time to tidy up and purge. Consider donating unwanted items in good condition or selling valuables that don't bring you joy. If you're having trouble getting started, begin with a brain dump of your head and heart. Reflecting on your thoughts, values, and memories may help you to determine what tangibles you want to share with the important people in your life. Next step, get sorting.
Happening at AFP:
Yes, we've just updated the last tab on our new website - Communications. This needed a little more time so it did not get rolled out when we launched our new website on February 9th. If you haven't checked it out yet, please do! The link is below. You may also need to refresh the link if you had bookmarked it in the past. Let us know what you think - suggestions and comments are welcome!
Teri's World - March has been a whirlwind with non-stop hours in the office along with two short business meetings in Dallas and New Orleans. One meeting was related to the work being done as a financial transitionist. The second was with our NAPFA Mid-West Mixers Group which acts as a board of directors for our organization. Teri spent some time with her kids and grandchildren over this past weekend. Logan is just about ready to start crawling, Bryce is so close to taking his first steps and Jordan is in potty training academy! So fun to be a Nana! Beyond being in the office a bit more than normal right now, Teri has been hiking some and getting ready to run part of the Columbus Capital Run April 27th with other family members. The thought of planning her vegetable garden for the summer is not too far behind!
UPCOMING CLIENT EVENT
Save the date and mark your calendars for our next client event,
"Beyond Money: Leaving a Lasting Personal Legacy" on April 25th (Thursday). We will be doing this in a workshop format with two times to choose from 2-4 p.m. or 6-8 p.m. Both will be held at Our Lady of Victory Parish Life Center, 1559 Roxbury Rd., Marble Cliff, OH 43212. We've pulled a few strings to get Susan here and this is a not to be missed program. I've never heard a better speaker on this topic than Susan Turnbull. We will be sending Invites out next week, but in the meantime, here is a little bit about Susan and the topic.
National expert Susan Turnbull will explore legacy planning as a powerful complement to estate planning. The word "wealth" usually brings to mind tangible assets. But behind the legal documents and the dollars lies a wealth of intangibles - key relationships, stories to be remembered,
and a mosaic of values, visions and hopes.
||National Legacy Expert Susan Turnbull
To neglect the intentional communication of the intangibles, she says, may deny future generations the full value - in every sense - of the inheritance you plan to provide them.
This is an RSVP By Invitation Only Event. If you do not receive an invite and would like to attend, please contact us.
April is Financial Literacy Month. Why not read a book on cleaning and organization? Here are some suggestions. Click the links below to learn more.
by Margareta Magnusson
By Marie Kondo
t Bob? - Bob & Christine had an absolutely wonderful trip to Arizona with Bob's parents. They attended three Indians' games and got some really good autographs. They also made a day trip up to Sedona where they toured the city, drank Prickly Pear Margaritas and ate rattle snake and buffalo. Sedona had received about 8" inches of snow a few days before and there was still a good bit of it on the ground. It was very interesting to see snow in the desert. They are still getting used to the dreary Ohio weather and lack of sunshine that was so wonderful in Arizona.
Tracey's Time -
Despite rain and temperatures in the 40's, we spent an enjoyable week in northern Michigan. We stayed at Boyne Highlan
ds Resort and were able to get in 3 days skiing. The conditions wer
e much better than anticipated. No lift lines made up for any second thoughts about not choosing to head south to sunshine. We stopped in Frankenmuth for lunch at the Bavarian Inn and shopping at Cherry Republic. We returned home in time to enjoy a traditional Irish meal of corned beef and cabbage on St. Patrick's Day.
POINTS OF REFERENCE
(Current Economic and Investment Information)
- TRANSPORTATION - The US trucking industry moves 61% of the freight transported within the USA (measure by dollar value) and 65% of the freight transported to Canada and Mexico from the US (source: Bureau of Labor Statistics).
- US EXPORTS & IMPORTS - The United States exported $2.5 trillion of goods and services in 2018, the largest total in history and up +36% in the last 10 years. The United States imported $3.1 trillion of goods and services in 2018, also the largest total in history and up +22% in the last 10 years (source: Commerce Department).
- JOBS - The 12.8 million manufacturing jobs in the United States as of February 2019 is the nation's largest total since December 2008 (source: Department of Labor).
- US HOME VALUES - The average single-family home in the USA increased in value +5.7% during 2018. Home values in Idaho increased +11.9% (top state) while home values in North Dakota were flat (bottom state) (source: FHFA).
RENTAL RESTRICTIONS - Oregon Governor Kate Brown signed legislation on 2/28/19 that makes Oregon the 1st US state to impose statewide rent controls. The new law limits annual rent increases to "inflation plus 7%." New apartment construction is exempted from the restrictions for 15 years (source: Oregon Senate Bill 608).
ECONOMIC GROWTH - The Chinese economy grew by +6.6% in 2018, its lowest growth rate since 1990. The US economy grew by +2.9% in 2018, its best growth rate since 2005 (source: National Bureau of Statistics of China, Commerce Department) .
ENERGY - US field production of crude oil reached 12.1 million barrels a day for the week ending 2/22/19, the largest weekly total reported in the 99 years this statistic has been tracked (source: Department of Energy).
For the Record
Keep Those Important Documents
Distributed by Financial Media Exchange
Historically, The 1998 IRS Reform Act shifted the burden of proof from the taxpayer to the Internal Revenue Service (IRS) in certain situations. Does this mean that you can toss those records that have been taking up space in your office? Hardly. The rules will not apply if you cannot come up with the proper documentation.
Here is a sample of some common records and how long they should be kept. You may keep these records in a condensed format (tape, computerized, etc.), but you will need to have the means necessary to reproduce a copy when called upon. See the points below to determine how long your documents should be saved:
* Audit reports of accountants.
* Capital stock records.
* Canceled checks for important payments (i.e., taxes, purchases of property, contracts).
* Contracts and leases in effect.
* Correspondence (legal and important matters only).
* Deeds, mortgages, and bills of sale.
* Financial statements.
* General and private ledgers.
* Insurance records, current accident reports, claims, policies, etc.
* Minute books of directors and stockholders, including by-laws and charter.
* Property records including costs, depreciation reserves, end-of-year trial balances, depreciation schedules, blue prints and plans, and property appraisals by outside appraisers.
* Tax returns and worksheets, revenue agents' reports and other documents relating to determination of income tax liability.
* Trade mark registrations.
Keep At Least 7 Years
* Accident reports and claims (settled cases).
* Accounts payable ledgers and schedules.
* Accounts receivable ledgers and schedules.
* Canceled checks.
* Contracts and leases (expired).
* Expense analyses and distribution schedules.
* Inventories (products, materials, supplies).
* Invoices to customers.
* Invoices from vendors.
* Notes receivable ledgers and schedules.
* Payroll records and summaries, including payments to pensioners.
* Purchase orders (purchasing dept. copy).
* Sales records.
* Scrap and salvage records.
* Stock certificates (canceled).
* Subsidiary ledgers.
* Time books.
* Voucher registers and schedules.
* Vouchers for payments to vendors, employees, etc. (includes allowances and reimbursement of employees, officers for travel and entertainment expenses).
Keep For 3 Years
* Correspondence (general).
* Employment applications and personnel records (after termination).
* Insurance policies (expired).
* Internal audit reports (minimum 3 years).
* Petty cash vouchers.
* Physical inventory tags.
Keep For 1 Year
* Bank reconciliations and deposit slips.
* Correspondence (routing) with customers or vendors.
* Purchase orders (except purchasing department copy).
* Receiving sheets.
* Stockroom withdrawal forms.
"The objective of cleaning is not just to feel clean,
but to feel happiness living within that environment."
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