Episode 31: Securing Your Future With Long-Term Care Planning

Welcome to Everyday Business, Yeo & Yeo’s podcast. On episode 31, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Long-term care planning is important because it can help ensure that you have the financial resources to cover long-term care expenses without depleting your savings or burdening your loved ones. A variety of long-term care insurance options are available, and it is important to understand the different types of policies and how they align with your financial situation and preferences. If you are unsure where to start, it is advisable to seek guidance from a financial professional.

On episode 31 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss long-term care – what it is and why it’s important, the different types of long-term care insurance and how to get started with long-term care planning.

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. On episode 30, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Legacy planning goes beyond wealth and age; it’s crucial for anyone aiming to make a lasting impact by ensuring their values, assets, and priorities are passed on meaningfully and tax-efficiently. Regardless of whether legacy planning involves financial support for loved ones, education, charitable giving, or fulfilling personal values and life lessons, it is a fundamental aspect of financial planning.

Listen in as Pete and Matt discuss legacy planning, why it’s important and some strategies to consider when incorporating your legacy into your financial plan.

Yeo & Yeo’s Everyday Business podcast covers tax, accounting, technology, and financial topics to help you and your business thrive. The podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning Partners. Commission-based securities products are offered through Avantax Investment Services, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. On episode 29 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM and Andrew Matuzak, a Wealth Management Specialist in Yeo & Yeo’s Saginaw office. 

Charitable giving is a meaningful way to support the causes you care about and can also save you money on taxes. Several tax-efficient charitable giving strategies are available, such as qualified charitable distributions, donor-advised funds, gifting appreciated stock, and bunching. When determining which organizations or charities to donate to, it is important to consider your values and the causes that matter most to you, and research the charities to ensure they use donations effectively.

Listen in as Pete, Matt and Andrew discuss the significance of charitable giving and tax-intelligent strategies to amplify the impact of your generosity.

Yeo & Yeo’s Everyday Business podcast covers tax, accounting, technology, and financial topics to help you and your business thrive. The podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. On episode 28, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss the importance of year-end tax planning and tax-intelligent concepts to consider, including tax-focused investment strategies, retirement planning, family risk management, business planning, legacy planning, education planning, and cash flow management.

Yeo & Yeo’s Everyday Business podcast covers tax, accounting, technology, and financial topics to help you and your business thrive. The podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Saginaw, MI: Yeo & Yeo is pleased to announce that Tara Stensrud, CPA, NSSA®, has earned the Personal Financial Specialist (PFS) designation from the American Institute of Certified Public Accountants.

The PFS credential is awarded to CPAs with extensive training and experience in financial planning. To earn the credential through the experience pathway, CPAs must have at least 105 hours of personal financial planning education and 7,500 hours of planning experience within the previous seven-year period. They also must pass a comprehensive exam covering eleven topic areas and be a member in good standing with the AICPA, binding them to the AICPA Code of Professional Conduct and the Statement on Standards in Personal Financial Planning Services. This designation allows Stensrud to serve as Investment Advisor Representative (IAR) with Yeo & Yeo Wealth Management and AvantaxSM.

Tara Stensrud is a tax principal based in Yeo & Yeo’s Midland office. She is a member of the firm’s Manufacturing Services Group and the Consulting Services Group. Strensrud provides individual and business tax planning, consulting, compliance, and financial reporting to a broad range of clients with an emphasis on the manufacturing and agriculture sectors. She works with businesses and their owners, as well as individuals, on strategic and financial planning. She is a member of the Michigan Manufacturers Association and the Central Michigan Manufacturers Association. In the community, she serves as a board member of Shelterhouse and is a Midland Noon Rotary Club member. She joined Yeo & Yeo in 2006.

Stensrud said that earning the PFS credential has helped her elevate the level of service she can provide to clients. “The in-depth education and planning experience have given me a deeper understanding of their financial needs and allowed me to craft personalized strategies tailored to their specific situations.”

The PFS certification allows Strensrud to combine her tax expertise with her knowledge of financial planning to provide clients with comprehensive financial strategies.

Peter J. Bender, CPA, CFP®, leader of Yeo & Yeo Wealth Management, said, “Earning the PFS credential highlights Tara’s commitment to continuous growth and elevating the level of service we provide to our clients. This achievement reinforces Tara’s dedication to empowering our clients to make informed decisions about their financial future.”

 

About Yeo & Yeo Wealth Management

Yeo & Yeo Wealth Management (www.yeoandyeo.com) helps businesses and individuals with their wealth management and investment strategies. Working closely with Avantax®, a national wealth management company, Yeo & Yeo Wealth Management delivers a holistic approach that connects financial planning, tax strategies and insurance solutions. Wealth management services are offered in Yeo & Yeo’s offices throughout Michigan.

 Avantax WM HoldingsSM is the holding company for the group of companies providing financial services under the Avantax® name. Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member  FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.

Saginaw, MI: Yeo & Yeo is pleased to announce that Eric Sowatsky, CPA, CGMA, NSSA®, has earned the Personal Financial Specialist (PFS) designation from the American Institute of Certified Public Accountants.

The PFS credential is awarded to CPAs with extensive training and experience in financial planning. To earn the credential through the experience pathway, CPAs must have at least 105 hours of personal financial planning education and 7,500 hours of planning experience within the previous seven-year period. They also must pass a comprehensive exam covering eleven topic areas and be a member in good standing with the AICPA, binding them to the AICPA Code of Professional Conduct and the Statement on Standards in Personal Financial Planning Services. This designation allows Sowatsky to serve as Investment Advisor Representative (IAR) with Yeo & Yeo Wealth Management and Avantax®.

Eric Sowatsky is a tax principal based in Yeo & Yeo’s Saginaw office and leads the Saginaw office’s tax department. He is the Agribusiness Services Group leader and a member of the firm’s Tax Services Group. Sowatsky specializes in business consulting, internal control reviews, financial reporting, and tax planning for a broad range of clients, with an emphasis on agribusiness and family-owned businesses. He has extensive experience with the tax and financial challenges business owners face. Sowatsky is a member of the Michigan Agribusiness Association’s Grain Committee and the Farm Financial Standards Council. He is a regular contributor on the WSGW Farm Service 790 radio show. In the community, he is the past treasurer of Bethlehem Lutheran Church and coaches the soccer and basketball teams at Bethlehem Lutheran School. He joined Yeo & Yeo in 2004.

In speaking on the significance of earning the PFS credential, Sowatsky said, “The extensive training and experience in financial planning have allowed me to offer a more holistic approach to tax and financial challenges faced by businesses and individuals. It’s immensely rewarding to combine my tax expertise with comprehensive financial strategies, empowering our clients to make informed decisions.”

Peter J. Bender, CPA, CFP®, leader of Yeo & Yeo Wealth Management, said, “The PFS designation reinforces Yeo & Yeo’s commitment to delivering expert financial guidance, and I am confident that Eric will continue to excel in his role as a trusted advisor, helping our clients achieve their financial goals with confidence.”

About Yeo & Yeo Wealth Management

Yeo & Yeo Wealth Management (www.yeoandyeo.com) helps businesses and individuals with their wealth management and investment strategies. Working closely with Avantax®, a national wealth management company, Yeo & Yeo Wealth Management delivers a holistic approach that connects financial planning, tax strategies and insurance solutions. Wealth management services are offered in Yeo & Yeo’s offices throughout Michigan.

 Avantax WM HoldingsSM is the holding company for the group of companies providing financial services under the Avantax® name. Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member  FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.

Yeo & Yeo Wealth Management received the 2022 Growth Award and was recognized for the fourth consecutive year as a Top Wealth Advisory Firm in the large firm division* by Avantax Planning PartnersSM (Avantax).

The Growth Award celebrates the expansion of firms that have implemented a wealth management growth plan and saw exceptional year-over-year results. Yeo & Yeo was selected for this recognition due to the firm’s innovative marketing efforts, including a dedicated wealth management podcast series. This series provided valuable insights to listeners on a wide array of topics, including succession planning, social security and tax-smart investing.

“We are truly honored to receive the Growth Award, which reflects the incredible dedication of our team,” said Pete Bender, CPA, CFP®. “Their hard work has allowed us to serve a growing number of clients who benefit from our expertise, and the wealth management experience of Avantax. We are excited to continue delivering comprehensive solutions that help our clients achieve their financial goals today and in the future.”

Moreover, Yeo & Yeo Wealth Management has gone above and beyond in providing clients best-in-class planning and wealth management experience, leading to its recognition as a Top Wealth Advisory Firm for the fourth consecutive year.

“Combining the tax and accounting experience of Yeo & Yeo and the wealth management experience of Avantax provides a distinct advantage,” said Andrew Matuzak, CPA, PFS. “This unique approach empowers our clients to save money, make strategic investments, and ultimately move closer to their desired financial outcomes. We are committed to delivering personalized solutions that make a positive and lasting impact on their financial well-being.”

Yeo & Yeo Wealth Management works closely with Avantax, a pioneer in tax-smart investing, financial planning and wealth management, to provide a comprehensive approach to financial planning. Using a unique tax-focused perspective, Yeo & Yeo Wealth Management’s experienced financial planners develop strategies to help clients meet their overall financial goals and desired lifestyle for today and tomorrow.

“We look at wealth management through a tax-focused lens because we understand that tax information can reveal financial opportunities and vulnerabilities for our clients,” Bender added. “Often, financial professionals focus on a client’s wealth and fail to analyze their tax situation before making investment recommendations. We provide tools, like our 1040 Analyst and Guidance Planning Strategies program (GPS), to help clients find ways to strengthen their financial situation holistically.”

Awards were presented at the 2023 Avantax Elevate Annual Conference held in Indianapolis, Indiana.

*Award(s) are neither representative of any client’s experience nor indicative of future performance.

About Yeo & Yeo Wealth Management

Yeo & Yeo Wealth Management (www.yeoandyeo.com) helps businesses and individuals with their wealth management and investment strategies. Working closely with AvantaxSM, a national wealth management company, Yeo & Yeo Wealth Management delivers a holistic approach that connects financial planning, tax strategies and insurance solutions. Wealth management services are offered in Yeo & Yeo’s offices throughout Michigan.

Avantax WM HoldingsSM is the holding company for the group of companies providing financial services under the AvantaxSM name. Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.

Last week’s closure of Silicon Valley Bank (SVB) marked one of the largest bank failures in history and sparked fears over the health of the entire financial system. While the situation remains fluid, below you’ll find a high-level overview.

 Highlights

  • The collapse of Silicon Valley Bank fueled a sharp sell-off last week, with the S&P 500 falling -4.55%.
  • Over the weekend, the Treasury Department announced that it would fully protect all uninsured and insured depositors; however, it will not use taxpayer dollars to bail out the bank.
  • The Federal Reserve announced the creation of a new Bank Term Funding Program to prevent spillover to the broader financial system.
  • We believe this is largely an isolated event due to the unique circumstances of Silicon Valley Bank and its own risk management strategy.
  • This event illustrates why it is important to have a long-term financial and tax plan in place. Volatility is inevitable in markets, but a well-diversified portfolio and a solid tax plan can help smooth the bumps in the road.

Our Analysis

The situation with Silicon Valley Bank remains fluid and is certain to drive its fair share of volatility in the weeks to come. For now, we believe that what happened with Silicon Valley Bank is largely an isolated event, given its unique circumstances and unusual client base — it had very few typical retail customers.

The composition of Silicon Valley Bank’s balance sheet exposed the bank to larger shortfalls in the event of rising interest rates, deposit outflows, and forced asset sales. At this time, we view this as a unique or rare exposure within the current banking system, and the biggest ones, importantly, remain highly diversified with large balance sheets that are unlikely to be materially impacted by these events due to their hedging and risk management strategies. In the meantime, we believe the Federal Reserve will likely approach further interest rate hikes with more caution going forward.

What Happened

Turmoil in the financial sector led to a sharp sell-off in stocks last week after the Federal Deposit Insurance Corporation (FDIC) announced the closure of Silicon Valley Bank on Friday, March 10. The closure of Silicon Valley Bank marked one of the largest bank failures in history and sparked fears over the health of the entire financial system. The S&P 500 tumbled nearly 5% last week, and the financial sector fell by more than 8%. 

The U.S. Government’s Response

Following last week’s sell-off, the markets received some welcome clarity over the weekend regarding the fate of depositors and other institutions associated with the bank. On Sunday night, the U.S. Treasury, Federal Reserve, and FDIC released a joint statement designating Silicon Valley Bank as a systemic risk, giving the Treasury Department authority to unwind the bank in a way that will fully protect all depositors, both insured and uninsured.

The statement indicated that those with money at the bank will have full access to funds starting Monday morning. This is important since out of Silicon Valley Bank’s $173 billion of customer deposits at the end of 2022, $152 billion were uninsured (i.e., over the $250,000 FDIC insurance threshold) and only $4.8 billion were fully insured (JPMorgan).

Safeguarding Market Instability

In addition to back-stopping depositors, the Federal Reserve took decisive action to prevent this situation from spreading to other banks.

The Federal Reserve announced it is creating a new Bank Term Funding Program aimed at safeguarding institutions impacted by the market instability of the Silicon Valley Bank failure. The Fed facility will offer loans of up to one year to banks, saving associations, credit unions and other institutions. Markets initially reacted positively to the developments but fell in the pre-market trade Monday morning as markets were set to re-open for the week. 

About the SVB Collapse

The collapse of Silicon Valley Bank happened swiftly. On Wednesday of last week, the bank reported that “client cash burn has remained elevated and increased further in February, resulting in lower deposits than forecasted.” To shore up liquidity and reassure investors, the bank attempted to raise capital and liquidated approximately $21 billion of bonds at a significant loss. This had unintended consequences that spurred a run on the bank, leading to inadequate liquidity and insolvency due to the rush of withdrawals.

Silicon Valley Bank served a niche market focused on lending to and gathering deposits from venture capital firms. The problem didn’t stem from underlying credit risk issues but rather a severe duration mismatch between high-quality assets and deposit liabilities. In short, the bank had invested its deposits in low-interest rate bonds that it held on its books on a long-term “hold-to-maturity” basis.

That means that it did not have to mark-to-market those bonds until they were sold. If a bank does not need to sell “hold-to-maturity” assets to meet withdrawal requests, there is no problem. But if a bank is forced to sell these securities at a loss, that’s where the trouble starts.

In this case, many of the underlying bonds were purchased prior to the rapid spike in interest rates over the last year, meaning that they will have to be sold well-below par value (the amount the bonds would eventually be worth at maturity).

Many catalysts drive volatility in the markets, most of which are unknown until they occur.

Working with Avantax can help smooth inevitable bumps in the road by taking a long-term tax and financial planning perspective.

If you have questions, please consult your Financial Planning Consultant.

Avantax WM HoldingsSM is the holding company for the group of companies providing financial services under the Avantax® name. Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for 100 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 27 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Kevin Dement, Principal, Client Development, Avantax Retirement Plan ServicesSM and Matthew Cash, financial planning consultant for Avantax Planning PartnersSM. Listen in as Pete, Kevin and Matt discuss SECURE 2.0 and how many provisions of the act can enhance retirement plans.

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for 100 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 26 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss how SECURE 2.0 will expand employee enrollment in retirement plans, and how the provisions of the act will affect many individuals and their employers. 

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 25 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss Maximizing Social Security Benefits in the sixth in our series focusing on wealth management.

  • When should you start planning, and when should you start drawing Social Security benefits? (1:40)
  • Visit www.ssa.gov for information to help answer common questions. (3:39)
  • Can I earn more by waiting to draw from retirement past age 62? (5:00)
  • Is it always best to wait or are there cases when you should draw early? (7:20)
  • When does someone qualify for Medicare benefits? (10:40)
  • Ways to maximize Social Security benefits (12:45 )
  • The rules for claiming a former spouse (15:54)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Preview

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 24 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss important questions you should consider when building a succession plan, in the latest episode of our series focusing on wealth management.

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 23 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss Tax-Smart Investing and Planning in the fifth in our series focusing on wealth management.

  • How does tax-smart investing work? (1:44)
  • What kind of difference can tax-smart investing make on investment outcomes? (6:55)
  • How does tax-smart investing differ from tax-smart financial planning? (8:03)
  • Why don’t more financial planners offer more tax-smart investing strategies? (13:45)
  • What should a client look for in a financial professional? (15:49)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 22 of Everyday Business, host Peter Bender, tax principal, and leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss the tax-smart strategies for wealth transferring in the fourth in our series focusing on wealth management.

  • Different types of estate taxes (2:44)
  • How might a changing regulatory environment affect wealth transfer plans? (5:20)  
  • What are some strategies that can be applied now to help minimize state taxes? (8:23)
  • Contributing to a 529 education savings account and the bunching rule (11:23)
  • Donating appreciated property (13:18)
  • Differences in beneficiaries of a ROTH vs. traditional IRA (14:24)
  • When should someone look for an estate planning attorney? (15:56)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 19 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss the financial planning process in the second in our series focusing on wealth management.

  • The differences between investors and financial planning partners (1:55)
  • Financial advisor fee structure vs. commission-based structure (4:06)
  • Yeo & Yeo’s unique financial planning process with Avantax (7:20)
  • The differences in the types of investments (10:05)
  • The GPS (Guidance Planning Strategies) process (12:16)
  • Strategies to help clients make good financial decisions (16:33)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 18 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM.

Listen in as Pete and Matt discuss inflation and market volatility in the first episode in our podcast series focusing on wealth management.

  • Causes of inflation (2:10)
  • Why is inflation so much more impactful for those in their retirement years? (5:22)
  • Interest rate increases and how it will affect investors (9:00)
  • What can investors do to offset inflation in their portfolios now? (13:05)
  • What are some things investors can do in volatile times to offset changes in the market? (16:15)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Yeo & Yeo Wealth Management was recognized for the third consecutive year as a Top Wealth Advisory Firm in the large firm division* by Avantax Planning PartnersSM (Avantax). The award honors firms that go above and beyond to help businesses and families achieve their wealth management goals.

Principal and wealth management leader Peter Bender CPA, CFP® said the award acknowledges Yeo & Yeo Wealth Management’s commitment to clients.

“Combining the tax and accounting experience of Yeo & Yeo and the wealth management experience of Avantax provides a distinct advantage,” Bender said. “Together, our comprehensive financial services help clients save money while also investing in ways that can get them closer to reaching their goals.”

Yeo & Yeo Wealth Management works closely with Avantax, a pioneer in tax-smart investing, financial planning and wealth management, to provide a comprehensive approach to financial planning. Using a unique tax-focused perspective, Yeo & Yeo Wealth Management’s experienced financial planners develop strategies to help clients meet their overall financial goals and desired lifestyle for today and tomorrow.

“We look at wealth management through a tax-focused lens because we understand that tax information can reveal financial opportunities and vulnerabilities for our clients,” Bender added. “Often, financial professionals maintain a singular focus on a client’s wealth and fail to analyze their tax situation before making investment recommendations. We provide tools, like our 1040 Analyst and Guidance Planning Strategies Program (GPS), to help clients find ways to strengthen their financial situation holistically.”

Awards were presented on May 25, 2022, at the Avantax Elevate Annual Conference in Des Moines, Iowa.

*Award(s) are neither representative of any client’s experience nor indicative of future performance.

Avantax WM HoldingsSM is the holding company for the group of companies providing financial services under the AvantaxSM name. Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.

View this month’s market update video as host Ivan Gruhl, Chief Investment Officer of Avantax provides an update and discusses Russia, rates and resilience.

Disclaimer
Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

The return of market turbulence, heightened volatility, and geopolitical uncertainty have dominated the investment landscape as we begin the year 2022. Stocks and bonds alike are firmly in negative territory for the year, while the VIX (volatility index), has nearly doubled and the bond market’s companion measure of volatility, the MOVE index, has doubled from mid-2021 lows. As we discuss the primary drivers behind these recent market movements, we want to highlight the fact these types of pullbacks and the volatility associated with them are normal, considered healthy, and expected to occur from time to time.

Russia and Ukraine

For the past several months, Russian troops have been aggregating along the border in Ukraine. Recently, President Putin gave an ultimatum, stating Russia will back down once Ukraine gives up sovereignty, demanding Ukraine does not join NATO. He does not like the idea of NATO being on Russia’s borders. The fact countries are beginning to align to the West is seen as a threat, and in Putin’s eyes, Ukraine joining NATO is not an option. On Monday, Putin ordered troops into two breakaway regions of eastern Ukraine, undermining hopes of a diplomatic resolution with the West. In response, President Joe Biden recognized that Russia has begun “an invasion” of Ukraine, and he announced sweeping sanctions on the major Russian bank VEB and its military bank. Biden also announced sanctions on Russia’s sovereign debt, which will effectively prohibit Russia from raising money from the West. In addition, the Biden administration sanctioned three individuals with ties to members of Putin’s “inner circle”. If the situation continues to escalate, we could see further sanctions such as export controls restricting countries from selling products with U.S. content to Russia, along with blocking Russia from transacting in the SWIFT (Society for Worldwide Interbank Financial Telecommunications) payments platform.

A full-scale Russian invasion of Ukraine likely would cause serious disruptions to global energy markets. Russia is a huge raw material provider. Russia supplies 30-40% of Europe’s natural gas. In the broad commodities market, it supplies ~10% of the aluminum and copper and produces 43% of palladium. It also is the largest exporter of wheat and the second-largest exporter of oil. Recently, Germany halted the approval of the Nord Stream2 pipeline between Russia and Germany. Both countries are ultimately reliant on each other. Germany needs gas, and the pipeline itself would be worth billions to the Russian economy. Russia is a core part of energy markets, and any sort of sanctions will end up disturbing those flows.

Rates – The Fed & Inflation

Against the backdrop of strong economic growth, a robust labor market, and higher inflation, the Federal Reserve has adopted a much more hawkish tone in recent months. Inflation in the economy continues to run hot, with January’s headline inflation increasing to a 40-year high of 7.5%. Just last month, markets were implying between 4-5 rate hikes over the course of 2022. As of now, some are anticipating as many as 6-7 rate hikes between now and the end of the year. Shorter-term yields, which are very responsive to shifts in Fed policy, have risen much more than longer-term yields. This suggests more aggressive tightening early on, shifting to a more gradual pace as inflation cools. What’s important to note, however, is most Fed officials have pointed toward a steadier approach to higher rates. This leads us to believe the first increase in the federal funds rate in March will likely be 0.25% rather than 0.50%. If the Federal Reserve can facilitate a soft landing, the economy expansion is likely to continue, albeit at a slower pace.

The Global Economic Backdrop

COVID is winding down, geopolitical tensions are high, and monetary policy is in for a major shift. Despite these challenges, economic and financial system fundamentals are sound. On economic growth, last week’s January retail sales report suggested the Omicron wave had much less of an impact on the economy as initially feared. We expect this week’s GDP report to show a strong growth rate for the fourth quarter of 2021. In addition, as the pandemic continues to fade, we expect real GDP growth to remain strong as the services sector rebounds. Furthermore, inflation is likely to be a positive for stocks, particularly those with pricing power in industries like commodities and materials. Internationally, the UK and France recently reported their strongest economic growth in eight months, with their composite purchasing managers index rising to 60.2 and 57.4, respectively. Meanwhile, Germany had its best growth in six months, and Europe’s manufacturing lead times fell, a key sign that supply chain bottlenecks are starting to wane (JPMorgan).

The Bottom Line

The investment implications of the gathering storm in Ukraine depends largely on how far the Russian president is willing to escalate the crisis. For investors, it is important to note Ukraine tensions are a low earnings risk for U.S. corporations. Regardless of the negative impact Putin’s decisions will have on the people of Ukraine or the long-term negative results he simultaneously inflicts on his own country, the world economy will heal. Despite all that has gone on in the world over the past two years, and all that could yet transpire in 2022, markets continue to remain resilient. Overreacting to short-term market movement by panicking in the face of volatility is one of the biggest mistakes that investors often make. Investing in a diversified portfolio consistent with your objectives and risk tolerance is designed to help you reach your longer-term goals while smoothing the ride along the way. This is the best defense against our expectations for elevated volatility ahead. Time and time again the market has rewarded investors with long-term, disciplined approaches – this time will be no different.

Disclaimer
Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRASIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Yeo & Yeo is pleased to welcome Matthew Cash, CFP®, as a financial planning consultant through Avantax Planning PartnersSM.

In collaboration with Yeo & Yeo Wealth Management, Cash provides integrated planning and investment strategies for growing and protecting individuals’ and business clients’ wealth. He designs personalized wealth management solutions by bringing together estate planning, risk management, and retirement planning. Additionally, he supports business owners by reviewing their company retirement plans and optimizing them for tax efficiency, and assisting with business transition strategies. His focus is based on each client’s unique objectives and priorities.

“We are excited to welcome Matt,” said Pete Bender, CPA, CFP®, Principal and Yeo & Yeo Wealth Management leader. “He is a great addition to Avantax and Yeo & Yeo Wealth Management. His expertise allows us to continue to expand the range of wealth management and financial planning services that we can offer to our clients.”

Cash is a registered representative with Avantax Investment ServicesSM and a licensed health, accident, life and variable annuity agent. He holds a Bachelor of Arts in Economics from Ohio State University. He is a CERTIFIED FINANCIAL PLANNER™ and has FINRA Series 7, 63, 65, 9 and 10 securities licenses.

Yeo & Yeo Wealth Management works closely with Avantax, a pioneer in tax-smart investing, financial planning and wealth management, to provide a comprehensive approach to financial planning. Using a unique tax-focused perspective, Yeo & Yeo Wealth Management’s experienced financial planners develop strategies to help clients meet their overall financial goals and desired lifestyle for today and tomorrow.

Avantax WM HoldingsSM is the holding company for the group of companies providing financial services under the Avantax® name. Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.