Resource Center Archives - Page 7 of 9

Women & Investing

jmuch2025-03-26T08:43:32-05:00March 20, 2019|Categories: Resource Center|Tags: investing, women|

Women & Investing

Women investors face special challenges that make financial literacy and advanced planning especially important. For example, women are more likely to outlive their husbands or have divorce disproportionately affect them, making long-term financial strategies especially critical.

Women face unique challenges when it comes to investing and managing their finances. They often outlive their husbands, which can create stressful situations, especially if the husband has managed the finances. Studies show that many women are not actively involved in financial planning. For example, only 24% of women in their 50s have a financial plan in place. On top of this, women earn less than men and are more likely to take time off for caregiving, both of which impact their ability to save for retirement.

Women also tend to be more conservative investors. This cautious approach can help protect their assets, but it may result in lower returns over …

6 Steps for Early Retirement

jmuch2025-03-26T08:45:02-05:00March 7, 2019|Categories: Resource Center|Tags: financial planning, investment, retirement|

6 Steps for Early Retirement

6 Steps for Early Retirement
We’ve gotten a lot of questions recently on what it takes to retire early. While leaving the workforce may sound appealing, the people we work with want to make sure they have enough money saved and their portfolio is positioned for the road ahead.

Retiring early can seem like a dream, but it comes with its own set of challenges. Your savings must last longer, and the last thing you want is to run out of money. With careful planning, early retirement is possible, and there are six key steps to make sure you’re prepared. If you want more detailed guidance or help with your specific financial plan, reaching out to your team at CTS Financial Group is a great next step.

The first step is to create a budget. Retirement looks different for everyone, so it’s important to understand what your lifestyle …

FSA vs. HSA

jmuch2025-03-26T08:48:26-05:00February 14, 2019|Categories: Resource Center|Tags: insurance, taxes|

FSA vs. HSA: Health Savings Account vs. Flexible Spending Account

FSA vs. HSA

A Health Savings Account (HSA) or a Flexible Spending Account (FSA). Which one should you choose? With several key differences between them, it literally pays to get this decision right.

When choosing between a Flexible Spending Account (FSA) and a Health Savings Account (HSA), it’s important to understand their differences. Both accounts help you save money for medical expenses, but they serve different purposes. Your decision depends on your healthcare needs and financial goals.

An FSA is set up by your employer, allowing you to save money through pre-tax payroll deductions. You can use these funds for deductibles, copays, and other out-of-pocket healthcare costs. However, the “use it or lose it” rule means that any unused funds at the end of the year are forfeited. Some employers may offer a grace period or let you carry over a small …

Key Takeaways of the SEP IRA

jmuch2025-03-26T08:52:31-05:00January 17, 2019|Categories: Resource Center|Tags: retirement, taxes|

Key Takeaways of the SEP IRA

Key Takeaways of the SEP IRA

April 15th will be here in a blink of an eye. Are you self-employed or a small business owner?

A SEP IRA (Simplified Employee Pension IRA) is a retirement account for self-employed individuals or small business owners. Business owners, whether they have employees or work independently, can use a SEP IRA to save for retirement. This account stands out because it offers higher contribution limits than traditional and Roth IRAs, making it a popular choice for those who want to save more for retirement.

The SEP IRA’s main advantage is its high contribution limit. For 2018, the maximum contribution was $55,000, and business owners can contribute up to 25% of each employee’s pay. Self-employed individuals face a more complicated calculation, as their contributions are based on net profit, using a rate of approximately 18.6%. These …

See What’s Cooking with Max Lukawski

jmuch2025-03-26T08:55:40-05:00November 16, 2018|Categories: Resource Center|Tags: chicago, taxes|

See What’s Cooking with Max Lukawski

See What’s Cooking with Max Lukawski

See what’s cooking with Max Lukawski, CTS Financial Group’s Director of Tax Services. Max took a crack at the Proust Questionnaire, revealing what he likes to do when he’s not crunching numbers.

When asked about his idea of perfect happiness, Maxim shares that it’s simply spending a quiet night at home with his wife and a glass of wine. He confesses that his greatest fear is spiders, admitting it’s an irrational fear. Maxim also speaks candidly about his anxiety, acknowledging that he often struggles to balance being a good husband, dog dad, and excelling in his job. On the other hand, he dislikes dishonesty in others, as he prides himself on always being truthful.

Maxim greatly admires Sal Khan, the founder of Khan Academy, for his mission to educate the world, believing it will shape a better future. His greatest extravagance …

CollegeWise Webinar – Harvard, Stanford or Bust

jmuch2025-03-26T10:35:45-05:00October 10, 2018|Categories: Resource Center|Tags: college education, taxes|

CollegeWise: Harvard, Stanford or Bust – a Webinar

CollegeWise Webinar – Harvard, Stanford or Bust

Just what does it take to get into the top colleges and universities in the country? How do you identify the school that’s the best fit for your student?

On October 24th, join us for a webinar with CollegeWise, the nation’s largest college counseling organization. We’ll debunk college admission myths and show you what the college admissions process looks like from the inside.

We’ll also give you an overview of college savings options and how you can begin to financially prepare for your student’s amazing college adventure. Register here: http://bit.ly/2zU5AgA

if you enjoyed this resource, check out our resource center here.

The Proust Questionnaire Journey Continues with Christopher Much

jmuch2025-03-26T09:02:29-05:00September 7, 2018|Categories: Resource Center|Tags: chicago, investing, wealth management|

The Proust Questionnaire Journey Continues with Christopher Much

The Proust Questionnaire Journey Continues with Christopher Much

Christopher Much steps up to the Proust Questionnaire plate today, giving us some visibility into what makes him tick. Did you know that when he’s not crunching numbers and consulting with clients, Chris throws on a Gi and can be found studying the art of jiu-jitsu?

Maxim Lukawski, Director of Tax Services, enjoys financial planning because it blends data analysis with helping clients. He feels fulfilled when he sees the relief in clients’ eyes as they create a solid plan.

He views his greatest trait as tenacity, though his wife might call it stubbornness. He never gives up on tough tasks and pushes forward until he succeeds. Maxim values generosity in his friends. He believes it’s essential for being a good person.

Maxim admires Batman for his skills and humility, and Bruce Lee for his contributions to martial …

Empower Your Future

jmuch2025-03-26T09:04:31-05:00August 23, 2018|Categories: Resource Center|Tags: financial planning, investing, retirement, social security|

Empower Your Future

Empower Your Future

Today, fewer than 1 in 4 employees have a pension – and that number is falling. Social security is changing too, as the retirement age to receive full benefits rises. Younger generations can no longer rely only on the system for retirement savings. It’s up to you to provide for yourself, and to prepare to do so sooner rather than later.

From a young age, we learn the importance of saving and investing for the future. Without a solid plan, our goals may never be realized. Today, this message is more important than ever. Responsibility for retirement savings has shifted from employers to employees. A generation ago, 84% of retirees had income from employer pension plans. Today, fewer than one in four employees have a pension, and Social Security is providing less support.

Millennials can no longer rely on the system for financial security. Two-thirds of millennials …

Urban Exploration

jmuch2025-03-26T09:11:39-05:00August 10, 2018|Categories: Resource Center|Tags: chicago|

Urban Exploration: Take only photos, leave only footprints

Urban exploration is the pursuit of a time gone by, involving the documentation of abandoned man-made structures and the not-usually-seen components of the man-made environment. Digital images and traditional film allow us to stop time and memorialize a way of life – before demolition, erosion and looting take their toll.

Urban exploration captures history through abandoned buildings and forgotten spaces. It preserves these remnants before time, decay, or demolition erases them. Through photography, we glimpse once-bustling places now silent and decaying.

St. Stephen’s Church was built in the early 1900s as a Christian Science Church. In the 1980s, a new congregation took over. By the late 1990s, financial struggles led to the church’s sale to a developer. The 1917 façade was preserved in the redevelopment to honor its history.

The Joliet Correctional Center operated from 1858 to 2002. It’s famous for its appearances in The …

Jonathon Much Takes the Proust Questionnaire

jmuch2025-03-26T09:16:35-05:00July 12, 2018|Categories: Resource Center|Tags: chicago, wealth management|

Jonathan Much Takes the Proust Questionnaire

Jonathan Much Takes the Proust Questionnaire

In the late 1800’s, the Proust Questionnaire emerged as a popular parlor game and a way for friends and associates to better get to know one another.

The CTS Vice President values the balance between work, family, and martial arts training. He finds happiness in watching his daughters grow and spending time with his family. His biggest fear is not having enough time to visit every country he wants to see with his wife. He admires Bill Gates for his work as a technologist and philanthropist, and he strives to be loyal and respectful.

He also values loyalty and respect in others and dislikes being late. He treasures his grandparents’ wooden and glass bookcases, which are rare and irreplaceable. He doesn’t see any place better than Chicago and believes life without love would be unbearable.

In terms of talents, he’d like to …