Cash Flow Management: Spending, Saving, Sharing in 5 Steps

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

Cash flow management involves developing a spending plan to tell your money where to go instead of wondering where it went. This is a key component of your financial plan whether you are younger and need to invest for your future or are retired and now need to keep spending within what your resources can support. You can direct your income in one of three directions: Spending, Saving or Sharing …

Building Wealth: When is the Right Time to Start Saving and Investing?

By Wayne Johnson, MBA, CFP®, AEP®, CAP®, Financial Planner

I think I’ve always been a “good saver.” At least, that’s the impression I get from my mother. I vividly remember Nestle’s Nesquik shaker cup that served as the piggy bank to hold my savings for my first bike – I was required to save $10 toward it. That takes a while on a 25-cent-per-week allowance …

Podcast

Unfortunately, elderly individuals have become the target of many scam artists. In this short Finance Moment podcast episode, Senior Financial Planner David Strege shares some ideas on how to assist older adults to avoid being the target of financial scams, as well as the importance of sharing financial information with a trusted family member or partner.

Listen here.

Financial Updates

Schwab Transition

As we get closer to the transition of our clients’ investment accounts from TD Ameritrade to Schwab scheduled to take place over Labor Day weekend, we wanted to provide a few updates for you:

• We have added a callout near the top of our website homepage that references the transition and links to Schwab’s Client Information Hub which includes information about the transition.   
• In the next week or two, investment management clients will receive a Negative Consent Letter from Schwab, in addition to a few other regulatory documents. There is no action needed on your part.
• We will host two Schwab Client Days at our office in August to assist any clients who would like help setting up new Schwab logins in advance of the transition (this will be part of the transition process and you will receive notification from Schwab when it is time to do this). We will be able to assist in person, via phone and via Zoom, if needed. Please make a note of the following dates:
• Wednesday, Aug. 9 (10 a.m.-3 p.m.)
• Thursday, Aug. 17 (10 a.m.-3 p.m.)

Inside Look

Holiday Notice

The Syverson Strege office will be closed on Monday, July 3 and Tuesday, July 4 for our team members to enjoy the Fourth of July holiday. We will reopen on Wednesday, July 5.

Events

REGISTER TODAY!

Syverson Strege Presents the “Challenges of Aging” Luncheon Event Series:

• “Challenges of Aging: The Art of Decluttering and Downsizing”

Thursday, Aug. 24 (11:30 a.m.-1 p.m.)

Downsizing can be much easier if you know how and where to get rid of your stuff. Anne Nieland with Smart Senior Transitions, LLC will help you explore how to declutter, where your unwanted stuff should go, and ways to make your donations more meaningful to you.

• “Challenges of Aging: Avoiding Scams & Protecting Your Identity”

Tuesday, Sept. 19 (11:30 a.m.-1 p.m.)

In this session, West Des Moines Police officers will provide practical tips on ways to recognize a scam, how to handle a scam and when you should notify someone. Additionally, Senior Financial Planner David Strege will share several ways to proactively protect your identity – and your finances – to help curb the potential of becoming a scam victim.

• “Challenges of Aging: Cooking for 1-2 People & Disease State Shopping/Nutrition” Tuesday, Oct. 24 (11:30 a.m.-1 p.m.)

In this session, Registered Dietitian Stephanie Labenz with Aging Resources of Central Iowa will discuss downsizing your meal preparation and cooking process, as well as provide resources for how to shop and cook to accommodate a diabetes- or heart health-friendly diet.

The events are free, but registration is required. Each session is limited to 30 registrants. Lunch will be provided for those in attendance. Visit www.onlyworkforyou.com/resources/events to register or contact Deb Longseth at (515) 225-6000 or dlongseth@onlyworkforyou.com.

Save the Date!

Be sure to save the date for the following events: 

• Sept. 28: Client Appreciation Event (4:30-7:30 p.m.) – Glen Oaks Country Club, West Des Moines, Iowa (details to come)
• Oct. 17: “Is Real Estate Investing Right for You?” Luncheon (11:30 a.m.-1 p.m.) – Syverson Strege Office (registration and additional information to come)
• Oct. 19: Southeast Iowa Client Appreciation Event (3:30-6:30 p.m.) – Sonny’s Other Side, West Point, Iowa (details to come)

Out and About

Volleyball Tournament

Senior Financial Planner David Strege recently competed on both the 60s and 65s teams at the Dallas USA National Volleyball Tournament. Both teams placed second, and David will compete at the National Senior Games in Pittsburgh, PA, in July and at the Huntsman World Senior Games in St. George, Utah, in October. Nice work, David! 

AFP Master Class

Our Associate Financial Planner team recently had the opportunity to attend a master class facilitated by Charles Anderson, Performance Optimization Coach with Uncommon Health Allies, LLC. Our team is constantly learning new techniques and ways to be our best, and this session focused on improving and enhancing both internal and external communications. It was an enriching today for all! 

DSM Magazine Feature

Syverson Strege’s very own Tyler Conley was recently featured in DSM Magazine. As president of Financial Planning Association of Iowa, Tyler shared the continuing education opportunities the organization’s bi-monthly luncheons offer for CERTIFIED FINANCIAL PLANNER™ practitioners. Read the full article here: As financial planning evolves, so does professional training.

Principal Charity Classic

A few Syverson Strege team members enjoyed an afternoon at the Principal Charity Classic in early June, including (left to right): Megan Geary, accounting assistant; Tim Schau, IT support associate; Jason Gunkel, chief investment officer; and Meri Grogan, director of finance and administration.