The Gift of a Sabbatical

By Deb Longseth, Client Service Specialist

Sabbatical: What does that mean? One definition is: “a rest or break from work; an extended period of time intentionally spent on something that’s not your routine job.” Traditionally, we think of a sabbatical as something college professors get every so many years to study abroad. But at Syverson Strege it is a benefit that each employee receives after every five years of employment. A gift! A huge blessing!

Syverson Strege’s Core Values: Positive Attitude

By Tracy White, Receptionist

At the beginning of the year, Syverson Strege’s leadership team challenged us to dive deep into our company’s core values. I immediately jumped at the opportunity to research Positive Attitude. I look at positivity as not only a mindset, but as a superpower that turns challenges into opportunities, setbacks into stepping stones, and dreams into reality!

Podcast

How to LIVE in Retirement

Have you developed a purpose for your retirement? Long-term satisfaction in retirement identifies the areas where you are passionate. Living well in retirement is the topic for this short Finance Moment podcast episode “How to LIVE in Retirement by Senior Financial Planner David Strege.” You can listen to the full episode here. 

Financial Update

Changes to Iowa’s 529 Plans

You may have heard that recent state legislation has increased the amount you can deduct when contributing to Iowa’s two 529 plans (College Savings Iowa and IAble).

Effective in 2024, the new annual state tax deduction is $5,500 per account. This means that a couple could establish two College Savings Iowa accounts and receive a deduction of up to $11,000 per child or grandchild. The previous deduction in 2023 was $3,785, so this represents an increase of more than $1,700 – the largest increase in program history.

In addition, the state approved the federal legislation from SECURE 2.0 to allow funds from a College Savings Iowa account to be transferred to a Roth IRA for the same beneficiary. The lifetime limit is $35,000, but the beneficiary is still subject to Roth IRA contribution rules, such as the annual contribution and income limits.

Please contact your planning team at Syverson Strege if you have questions about how the changes to Iowa’s 529 plan impact your situation.

Inside Look

Office Closure

Our office will be closed Monday, May 27 for Memorial Day. We will resume normal business hours on Tuesday, May 28. 

Events

You’re Invited!

• June 20: Power of Connection Women’s Series: Financial Prep + Meal Prep @ Syverson Strege Office; 5:30-7 p.m. (heavy appetizers, beverages and meal prep ingredients will be provided). Learn more and register here.
• Aug. 16: Older Iowans Day at the Iowa State Fair (ages 60 and older) – We are taking up to 20 clients to the Iowa State Fair for a day of fun, including transportation, entry ticket, $10 in food/drink coupons and a cup of Barksdale cookies! Limited to the first 20 to RSVP to Deb Longseth; first come, first served.
• Oct. 3: Client Appreciation Event @ Rewind Hotel in West Des Moines; 4:30-7:30 p.m. (heavy appetizers and beverages will be provided). Formal invitation to come.

You can also RSVP for these events to Deb Longseth at (515) 225-6000 or dlongseth@onlyworkforyou.com. 

Out and About

Unconventional Business Network

Jason Gunkel, Ben Geiger and Bobby Daniels attended the Unconventional Business Network Summit 2024 in Kansas City where they listened to a panel of speakers expound upon being a difference maker in today’s workforce. They were given tools, tips and solutions to integrate Christian faith at work and have influence in their professions and the lives of clients, co-workers and others.

Philanthropy

Junior Achievement of Central Iowa

Tracy White, Jerin Young, David Strege, Christina Gayman, Bobby Daniels and Cameron Pietzsch recently spent time mentoring young adults at Junior Achievement of Central Iowa’s Finance Park. They worked with the students on topics like following a budget, how to plan for paying for expenses and how to plan for their financial future. 

Iowa Clinic Healthcare Foundation Gala

Syverson Strege team members Lance Gunkel, Christina Gayman, Wayne Johnson and Bobby Daniels (and their spouses) attended The Iowa Clinic Healthcare Foundation Gala. The money raised at the gala directly supports The Iowa Clinic’s sports physical program and other critical nonprofit projects that benefit central Iowans. This year the funds will be used to support DMPS’ nurses with medical supplies and equipment that often go underfunded.

Healthy Birth Day Changemakers Luncheon

Syverson Strege is proud to support the Healthy Birth Day Changemakers Luncheon. Healthy Birth Day’s mission is to educate and empower expectant parents about the importance of fetal movement monitoring in the third trimester of pregnancy.

Syverson Strege employees Nicole Tripp, Megan Geary, Matt Roberts, Jerin Young, Kara Knaack, Lance Gunkel and Christina Gayman attended this year’s event.