Dos and Don’ts of Retirement Planning

By David Strege, CFP®, CFA, CKA®, Senior Financial Planner

The idea of retirement sounds enticing – waking up when you want and doing what you want without much care in the world. But have you ever taken four to six weeks of vacation in a row? That scenario can become tedious. If you don’t have a plan of action, retirement can become very boring.

Test-Driving Investment Vehicles – Non-Qualified Accounts, Traditional IRAs, Roth IRAs, and Employer Sponsored 401(k) Plans

By Jennifer Scheck, Associate Financial Planner

Which investment vehicle is right for you? It depends. Several variables will guide your route to determine which accounts are appropriate for your circumstances, including your Modified Adjusted Gross Income (MAGI) as a single or joint filer, whether your employer offers an employer-sponsored plan such as a 401(k), maximum contribution limits and the tax implications or benefits of different accounts.

Financial Updates

Schwab Transition

Schwab Login ID and Password Information/Instructions:

• To set up your Schwab Login ID and password, you will need to enter an account number from either an existing TD account or your new Schwab account (which will be included in the letter you receive from Schwab). If you have a Schwab Login ID and password, there’s nothing you need to do. You can log in with these credentials.
• Once you have your account information ready, as referenced above, go to Schwab Alliance (schwaballiance.com) and select New Schwab user, then follow the prompts. If you’d like to use your existing TD Ameritrade Institutional Advisor Client login as your Schwab Login ID, enter that information after clicking New Schwab user.
• At Schwab, login info is tied to an individual person. Each Schwab client has their own unique Login ID and password, which automatically groups accounts with the same owner together, and they can be accessed under one login ID. This means that spouses will each need to create an individual login. 

Important Transition Dates to Note:

• Sept. 1, 2023:
• Final day your account is custodied at TD Ameritrade Institutional.
• Note: You will receive paper trade confirmations for all trades placed on this date, even if you have opted to receive electronic trade confirmations.
• Sept. 1–5, 2023:
• Account information will be unavailable from 8:30 p.m. ET on Friday, Sept. 1, 2023, to 5 a.m. ET on Tuesday, Sept. 5, 2023.
• Sept. 5, 2023:
• You will be able to access your account on Schwab Alliance at 5 a.m. ET.
• Week of Sept. 18, 2023:
• You should receive your new Schwab checks and debit cards during this week. 
• Note: Schwab will continue to cash TD Ameritrade checks for 90 days after the conversion.

Inside Look

Holiday Notice

The Syverson Strege office will be closed on Monday, Sept. 4 in observance of Labor Day. We will reopen on Tuesday, Sept. 5.

Thank You!

We want to say thank you for all the treats our clients bring into the office for the Syverson Strege team to enjoy throughout the year; they are so appreciated! This beautiful (and delicious) Black Forest Cake made by a client a couple of weeks ago is no exception.

Events

“Is Real Estate Investing Right for You?” Luncheon

Tuesday, Oct. 17, 11:30 a.m.-1 p.m.

Syverson Strege, 4125 Westown Parkway, Ste. 104, West Des Moines

Considering real estate investing as part of your overall financial plan? This panel discussion will focus on what real estate investing is, what it looks like – the good and the bad, and how to go about implementing it as part of a financial plan.

Syverson Strege Financial Planner Bobby Daniels will facilitate the discussion and will be joined by Charlie Chedester (Midwest Family Lending Corp.), Jeremy Danilson (Danilson Law), Al Kaduce (Kaduce & Company, PC) and Chris Ranallo (Inhabit Iowa Real Estate Team).

Lunch will be provided. Register here.

RSVP by Sept. 15 for the Client Appreciation Event

It’s time to celebrate and thank you, our clients, at our annual Client Appreciation Event on Thursday, September 28 from 4:30-7:30 p.m. at Glen Oaks Country Club in West Des Moines, Iowa.

This year’s event is Hawaiian themed, and dress is resort casual. Heavy appetizers and drinks will be served. Come and go as your schedule allows from 4:30-7:30 p.m.

Please RSVP by Friday, Sept. 15 here or contact Deb Longseth at 515-225-6000 or DLongseth@onlyworkforyou.com. We look forward to celebrating with you!

UPCOMING EVENTS:

• Tuesday, Sept. 19: “Challenges of Aging: Avoiding Scams & Protecting Your Identity,” 11:30 a.m.-1 p.m. at the Syverson Strege office, 4125 Westown Parkway, Ste. 104, West Des Moines. Lunch will be provided. Register here.
• Wednesday, Oct. 4: Pickleball with a Planner (1:30-3:30 p.m.) – Enjoy pickleball, or want to learn to play? Join us for this free event at Smash Park in West Des Moines for camaraderie and friendly competition. Food and drink will be provided. Register here.
• Tuesday, Oct. 24: “Challenges of Aging: Cooking for 1-2 People& Disease State Shopping/Nutrition,” 11:30 a.m.-1 p.m. at Royal Flooring (demo kitchen area), 11801 Hickman Road, Urbandale. Lunch will be provided. Register here.
• Thursday, Nov. 9 (NEW DATE): Southeast Iowa Client Appreciation Event (3:30-6:30 p.m.) – Sonny’s Other Side, West Point, Iowa (details to come).
• Tuesday, Nov. 14: Schwab Overview: What Does an Investment Custodian Do and How Do We Work Together? This event will be held virtually via Zoom. The event is free, but registration is required. Register here.

For any of the above events, you can also register by contacting Deb Longseth at (515) 225-6000 or dlongseth@onlyworkforyou.com.

Philanthropy

Food Bank of Iowa BackPack Program™

To help support central Iowa children as they head back to school this month, Syverson Strege donated to the Food Bank of Iowa’s BackPack Program™ which was matched by Farmers Mutual Hail to enable us to provide backpacks for 200 students. The Food Bank of Iowa’s BackPack Program™ provides weekend food for 4,100 elementary children at 103 schools every Friday. We’re proud to support programs that work to provide food security in our community!

Junior Achievement Golf Classic

Syverson Strege is proud to support the JA Golf Classic as a part of Junior Achievement of Central Iowa. Sponsorship for Junior Achievement allows them to provide life-changing programs in the areas of financial literacy, entrepreneurship and work readiness programs at no cost for students in the Des Moines area.