Podcast | Season 1 | Episode 54

The Description

Charitable giving is one of our favorite financial topics; during this time of year, it seems to be on people's minds more.  

 Many of our clients here at Summit Wealth Group are charitably inclined, as evidenced by the spike in requests we see annually, to redeem investments toward the end of each calendar year so that they can give to their church or other favorite charity. 

The problem is most people don't know that instead of simply writing a check to a charity, there may be more tax-advantageous ways to give, which preserves more of the donor's wealth which, in turn, could be used down the road for additional philanthropic causes. Listen to hear Dave Noland and Stephanie Brinkman discuss some tax advantageous ways you can give. 

Hosts:
Dave Noland, CFP®, CRPSTM | Financial Advisor

Dave's career in the Financial Services industry began in 2000, working part-time at a large national commercial bank while pursuing his degree in Finance from Arizona State University. Upon graduation in 2002, Dave took a position with a credit union with a more client-focused approach than the big bank he'd previously worked for.

In the summer of 2011, after holding various branch-level positions with the credit union ranging from Personal Banker to Branch Manager, Dave decided it was time to pursue his true professional passion: financial planning. He left the banking world and joined the investment industry as a broker for a large wirehouse firm. Within a few years, he'd completed all requirements to obtain the CFP® certification and moved into an advisory position with the same firm. Dave has been blessed with the privilege of managing his client portfolios since early 2016, first with the large wirehouse firm and, more recently, with Summit Wealth Group. Dave was impressed with how Summit treated clients and staff like family and not like faceless names or numbers. 

With Summit, Dave partners with his clients to pursue their dreams by getting to know and understand their needs, wants, and wishes, along with the concerns and fears that may keep them up at night. With this knowledge, Dave can craft a tailored plan designed to give them the confidence to successfully realize their goals. He feels most fulfilled in his work as he sees these dreams become a reality over time.


 Stephanie Brinkman | Marketing Administrator 

Stephanie Brinkman joined Summit Wealth Group as the Marketing Administrator in February 2021. She has a Bachelor of Science in Marketing with a minor in Graphic Design from Southwest Minnesota State University in Marshall, MN. 
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Securities and Advisory Services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network.

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The Transcript

 Stephanie 

"David Lee, Certified Financial Planner and Vice President at Summit Wealth Group, is the host of today's mini episode."

David

"Hi, this is David Lee. I'm with the Memphis office of Summit Wealth Group. Today we're going to talk about steps to take in the event that you lose a spouse. First of all, don't make any quick decisions.

Take your time. If you have close family members whose advice you value, or a close financial advisor, or clergy member, anybody whose advice you value, spend time with that person. Don't feel under pressure to make any quick decisions. When you're ready to deal with it, Sit down with a financial advisor and or a close family member and take an inventory of the assets that you have available.

Your financial advisor can help you make a list of IRAs, 401ks, Pensions that you might be eligible for. What are the survivor benefits for Social Security? There may be a lot of moving parts here and don't get overwhelmed by it. Talk with somebody who's dealt with these things multiple times before and is able to help walk you through this in a measured manner.

The right financial advisor can help you look at the pros and cons of each asset and how best to use those. to make sure that you have the secure income you need for the rest of your life. Obviously, anyone dealing with this type of loss is experiencing a lot of grief. Sometimes that can lead to decisions that aren't the best, which is one reason to take your time.

It's another reason to work with a certified financial planner who is legally a fiduciary. That means that that certified financial planner has a legal obligation to put your best interests ahead of their own. Also, if you can, you should work with a financial advisor who has experience dealing with the types of issues that you're dealing with, who has dealt with people in similar situations.

and can help guide you through the decisions that you'll have to make to make sure you're using the assets in an optimum way. No one can really understand what you're going through right now, but we have worked with people in your situation many times. If you have questions about issues that you're faced with, or if you're ready to sit down and just take a look at the whole situation and decide what the next step should be, we'd be happy to have a complimentary consultation with you.

Just give me a call."

Stephanie

"Thanks for listening to a mini episode of the Reach Your Summit podcast by Summit Wealth Group. If you'd like to help support the podcast, please share with others and subscribe so you don't miss an episode. Thanks again."