(312) 337-1040

Resource Center

  • Older Couple Looking At Tablet, social security, Getting Strategic with Social Security

Getting Strategic with Social Security

2025-03-26T08:16:45-05:00September 25, 2019|Categories: Resource Center|Tags: , |

Getting Strategic with Social Security

Getting Strategic with Social Security

While social security should be just a portion of your overall retirement strategy, it’s an important part to get right.

Social Security is a crucial component of your retirement plan, and understanding how it works is essential. Signed into law by President Roosevelt in 1935, the system provides retirement income funded by taxes from current workers. The amount you pay into Social Security during your lifetime determines your benefit, with the Social Security Administration (SSA) using your 35 highest-earning years to calculate your monthly payments. The more you contribute, the higher your benefit will be.

You can start receiving Social Security as early as age 62, but your monthly benefit will be reduced by about 0.5% for each month you claim early. Conversely, if you wait until your “full retirement age” (which varies based on your birth year) or beyond, you can earn …

  • Suit Separates Hanging On Hanger, Boss Ladies of Chicago

Boss Ladies of Chicago

2025-03-26T08:21:00-05:00September 12, 2019|Categories: Resource Center|Tags: |

Boss Ladies of Chicago

Boss Ladies of Chicago

Chicago is the third largest city in the U.S. but has the highest concentration of women founders. With such a large population of boss ladies in our great city, we thought it was time to celebrate the work being done by six of these visionaries.

Chicago, the third-largest city in the U.S., is home to an impressive concentration of women entrepreneurs and business leaders who are making waves across various industries. With its dynamic and gritty culture, the city has become a hub for female-led businesses. Here are six standout women who are leading the charge in Chicago’s entrepreneurial scene.

Jennifer Brandel is the founder of Hearken, a platform that allows journalists and the public to collaborate in creating relevant news stories. With a background in journalism, Brandel has worked with top organizations like Thoughtly Crew, Zebras Unite, and has freelanced for Vice and The …

  • Ultimate College Checklist

Ultimate College Checklist

2025-03-26T08:24:23-05:00July 12, 2019|Categories: Resource Center|Tags: , |

Ultimate College Checklist

Ultimate College Checklist

With summer in the air, it means fall is just around the corner. And, for many, that means kids heading off to college.

Sending your child off to college is an exciting and emotional milestone for families, but many details require attention. At CTS Financial Group, we’ve helped families navigate this transition, and we’ve created a checklist of 13 essential tasks to ensure your child gets the most out of their college experience. Here are some key items to address:

Finances
College is expensive, so review your finances and consider using accounts designated for higher education, like a 529 Plan. If money is tight, a Home Equity Line of Credit (HELOC) could be a good option, but consult a financial advisor before making that decision. You should also evaluate your car insurance policy to determine if adjustments are needed due to your child’s new living situation.

Health
Check if your …

  • Thriving In The Gig Economy

Thriving in the Gig Economy

2025-03-26T08:25:43-05:00June 21, 2019|Categories: Resource Center|Tags: , , , |

Thriving in the Gig Economy

Thriving in the Gig Economy

Approximately 57 million Americans participate in the gig economy. While the gig economy has been around forever, the number of freelancers has increased exponentially. The need for these freelancers and side hustlers to save for retirement is greater than ever.

The gig economy, which includes independent contractors and freelancers, continues to grow rapidly. With over 57 million Americans participating in this type of work, it’s clear that the shift toward gig work is here to stay. While this model offers flexibility and good income, it also presents challenges in managing finances, particularly when it comes to retirement savings, taxes, and insurance. Fortunately, freelancers can take several proactive steps to improve their financial future.

First, gig workers should secure health insurance and consider opening a Health Savings Account (HSA). The HSA offers a tax-friendly way to save for medical expenses, and after age 65, …

  • Identity Theft - Man Looking At Laptop In Dark, Identity Theft. Eight Steps to take if you are a victim.

Identity Theft. Eight Steps to take if you are a victim.

2025-03-26T08:31:08-05:00May 31, 2019|Categories: Resource Center|

Identity Theft. Eight Steps to take if you are a victim.

You’ve spent years building, managing, and securing your financial life. But what happens if your identity is stolen? Unfortunately, it happens regularly. In 2018, over 5.5% of consumers had their identity stolen.

Identity theft is a growing concern, affecting millions of Americans each year. There are two main types: conventional identity theft, where criminals impersonate you using your personal information, and synthetic identity theft, where they combine your data with fake details to create a new identity. Methods like dumpster diving, phishing, hacking, and data breaches are commonly used to collect this information.

If you become a victim, take immediate action by contacting your financial institutions to shut down any compromised accounts. Review statements for fraudulent charges, request a copy of your credit report to spot new accounts, and file reports with the Federal Trade Commission and local police to create …

  • Astronaut On Moon, 59 ½. Why is this age so important?

59 ½. Why is this age so important?

2025-03-26T08:34:36-05:00May 16, 2019|Categories: Resource Center|Tags: , |

59 ½. Why is this age so important?

59 ½. Why is this age so important?

If you’re 59½ and believe you’re not financially equipped for retirement, there’s still hope. The IRS grants those at that age special allowances to help bolster their retirement savings.

As you approach your 60th birthday, significant milestones in your retirement and healthcare journey are on the horizon. At 59½, you can begin withdrawing from retirement accounts without incurring early withdrawal penalties, and you’re also eligible to contribute more to your IRA. In 30 months, you can claim Social Security benefits, and in 66 months, you’ll be eligible for Medicare. The decisions you make now regarding retirement savings, healthcare, and financial planning will shape your upcoming golden years.

For many nearing retirement, financial concerns are common, with many Americans falling short of having enough saved. However, at 59½, the IRS allows catch-up contributions to retirement plans, helping to …

  • Six Steps to a College Internship

Six Steps to a College Internship

2025-03-26T08:36:03-05:00April 25, 2019|Categories: Resource Center|Tags: |

Six Steps to a College Internship

Six Steps to a College Internship

Higher education has been in the news a lot recently – both because of March Madness and the College Admissions Scandal – so we wanted to explore the topic further and share insights on how to land a summer internship that can build a student’s personal brand the right way.

Landing a college internship is an important step toward building your career. Start by thinking long-term, but remember, you’re not locked into a single path. Internships allow you to explore different career options while gaining valuable experience, even if you’re unsure of your future job goals. They can help you develop key skills like decision-making, collaboration, and time management, all of which are essential as you transition into the workforce.

Gathering the right application materials is crucial. Along with your resume, which should be concise and data-driven, clean up your social …

  • Budgeting & Beyond, Woman drinking coffee budgeting

Budgeting & Beyond

2025-03-26T08:37:58-05:00April 11, 2019|Categories: Resource Center|Tags: , |

Budgeting & Beyond

Budgeting & Beyond

Ready to get serious about budgeting?

Budgeting is an essential practice for everyone, regardless of income, to ensure financial stability and success. It’s about managing your cash flow, saving for the future, and making sure your spending aligns with your financial goals. Whether you’re new to budgeting or refining your approach, these four tips can help you get started and set yourself up for financial success.

1. Get a Handle on Cash Flow The process of budgeting and managing cash flow can begin at any age. While many people start focusing on it in their peak earning years (ages 40-60), it’s never too late to begin. Baby boomers and Gen Xers, in particular, often find themselves carrying higher credit card debt during this time, so learning to budget effectively is crucial. To get started, consider using a cash flow analysis worksheet, which you can get for free …

  • Apps and Life Hacks

Apps and Life Hacks

2025-03-26T08:39:55-05:00March 29, 2019|Categories: Resource Center|Tags: , |

Apps and Life Hacks

Apps and Life Hacks

While tax season has nearly come and gone, it’s always nice to have a few ideas to help you close out the current tax season and plan for next year.

Managing your finances can be a lot easier with the right tools, and there are several apps available to simplify budgeting, saving, and investing. For example, Mint is great for millennials, helping manage everything from bills to budgets with ease. If you’re new to investing, Acorns makes it simple to start with spare change, while Stock Twits helps track stocks and connect with other investors. These apps help you stay organized and save for the future, making tax season more manageable.

Additionally, tools like Qapital and Honey offer ways to save money, whether through personalized budgeting or automatically applying promotional codes to your purchases. For business owners, QuickBooks Intuit helps with budgeting and invoicing. New …

Go to Top