The Center Helps Send Southfield Students Back to School

Co-Contributed by: Jaclyn Jackson and Kali Hassinger

On August 15th, Center team members, Kali Hassinger and Jaclyn Jackson, joined the Southfield community for a day of volunteering and fun at the Southfield Public Schools Back to School Summer Bash.  The event provided free school supplies, books, and pertinent information to families gearing up for the 2015-16 school year.  Featuring rides, ice cream, music, farm animals, and festival food, the picnic-style event proved to be great day for the Southfield community. 

“As we were organizing supplies to give away, you could see a long line forming. One of the volunteers even joked that it looked like a line for a Justin Bieber concert. You could tell parents and students were excited about the event,” Jaclyn said.   

The event reflects responsiveness to recent demographic changes of the school district. Today, sixty-five percent of enrolled students qualify for free or reduced lunch.

“It was such a positive event. It feels great to know that a student, who may not have the ability to buy those supplies otherwise, is starting the year prepared,” Kali explained. 

In addition to volunteering, The Center was an event sponsor.  Sponsorship and volunteer efforts are part of The Center’s vision for community partnering, which aims to contribute $100,000 in sweat equity, commitment, and financial contributions by 2020.  In just 3 hours, the Summer Bash distributed enough school supplies to fill a large school bus.  With continuing support from community sponsors, they hope to keep the annual event going.

 The Center wishes every student a successful and enjoyable 2015-16 school year!

Jaclyn Jackson is a Research Associate at Center for Financial Planning, Inc.

Kali Hassinger is a Registered Client Service Associate at Center for Financial Planning, Inc.

New Investor Access Tool: Account Aggregation

Contributed by: Nicholas Boguth

Investor Access has just added a neat new feature to the platform that allows you to organize your accounts so that they are easier to keep track of on the website.  If you are a subscriber to Investor Access, you are now able to create groups of accounts and aggregate them to different categories.  If you are not signed up for Investor Access, now is a good time to try it. You can take advantage of this feature in many ways, but here are a few ideas and examples to help you organize your accounts:

• Cluster accounts by account owner and/or by account type
• Separate your cash accounts from investment accounts
• Separate your savings accounts from your checking accounts
• Group your retirement accounts together
• Group your individual or trading accounts together

However you choose to use this tool, it should make managing and maintaining your accounts a little easier with better organization.

CLICK HERE for more detailed instructions on how to take advantage of this new feature.

If you are not familiar with Investor Access, follow the “Investor Access” link at the top of our website to find out more.  And as always, please contact any of our Center Client Service Associates with any questions!

Nicholas Boguth is an Investment Research Associate at Center for Financial Planning, Inc.

Tim Wyman: Now is the Time to Rebalance Your Portfolio

Contributed by: Timothy Wyman, CFP®, JD

The end of August for investors might have felt like a ride at Cedar Point. The downs were jarring, the ups exhilarating. In the midst of consecutive days of corrections, Detroit News Financial Editor Brian J. O’Connor interviewed The Center’s managing partner Tim Wyman.

“We investors have been pretty spoiled the last few years with low volatility, and these corrections are certainly more common than people think,” Tim said. “This latest correct is certainly nerve-wracking, but it’s common. This time it’s not different and a prudent, long-term focus will  prevail.”

Shifting investors’ focus from immediate headlines about China, Europe, the Federal Reserve and oil to the long-term may be easier in a bull market. But Tim says concerns should stiffen your resolve.

How Should I React?

When it comes to your next move, Tim told Detroit News that history suggests now is the time to rebalance your portfolio. Taking a look at your mix of stocks, bonds and assets on a quarterly basis is always a good practice, but doing it now makes sense.

“Research suggests that if you rebalance when there are large swings you get the biggest bang,” Tim said. “So this is an ideal time to be rebalancing. Some of that will mean increasing your stock allocation at this time. It’s hard to do, but we know it’s the right thing to do.”

Is the six-and-a-half year historic bull market over? The indicators aren’t pointing to a recession. But during this seesaw of the market, it is time to focus on the long term and consider rebalancing. If you’re ready to take a look at your portfolio, we’re here to help.

Timothy Wyman, CFP®, JD is the Managing Partner and Financial Planner at Center for Financial Planning, Inc. and is a contributor to national media and publications such as Forbes and The Wall Street Journal and has appeared on Good Morning America Weekend Edition and WDIV Channel 4. A leader in his profession, Tim served on the National Board of Directors for the 28,000 member Financial Planning Association™ (FPA®), mentored many CFP® practitioners and is a frequent speaker to organizations and businesses on various financial planning topics.

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The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Tim Wyman and not necessarily those of Raymond James. Past performance may not be indicative of future results. Diversification and asset allocation do not ensure a profit or protect against a loss. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Rebalancing a non-retirement account could be a taxable event that may increase your tax liability. You should discuss any tax or legal matters with the appropriate professional.

When the experts need financial perspective – who do they call? Center for Financial Planning of course

Contributed by: Center for Financial Planning, Inc.

Rod Meloni of Channel 4 visited with Tim Wyman, CFP®, JD on August 24, 2015 as he breaks down the market turmoil. 

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of speakers and Tim Wyman and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. The Dow Jones Industrial Average (DJIA), commonly known as “The Dow” is an index representing 30 stock of companies maintained and reviewed by the editors of the Wall Street Journal. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. The NASDAQ Composite Index is an unmanaged index of securities traded on the NASDAQ system. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. Past performance does not guarantee future results. Investing involves risk and investors may incur a profit or a loss regardless of strategy selected. Diversification and asset allocation do not ensure a profit or protect against a loss. Raymond James is not affiliated with and does not endorse the opinions of Rod Meloni. Investments mentioned may not be suitable for all investors. Prior to making an investment decision, please consult with your financial advisor about your individual situation. C15-034569

Post-Transplant Report on Tim & Kacy Wyman

Contributed by: Center for Financial Planning, Inc.

You may have heard that Tim Wyman was out of the office earlier this summer. He underwent surgery to remove a kidney, which was then transplanted to his daughter Kacy. Tim’s wife Jen Wyman gave us this update on how the recovery is going:

Tim and Kacy have just passed the 12 weeks post-kidney transplant mark …. a milestone of sorts. After a rough surgery and recovery for Tim, he is back to an almost normal version of himself, less a kidney, but otherwise feeling like himself.  While it has not been easy on him, he would do it over again in a heartbeat.  All he has to do is look at Kacy to know that.    

Kacy, despite the fact that she has a 12-inch scar, looks and acts as if nothing ever happened. She has completed 12 weekly uneventful transplant clinics with very few medication tweaks.  Her labs are stable and her health has been excellent.   She now will go to clinics every other week, 11 different medications will reduce to 8, and 40 daily pills will now be 34.   Still big numbers, but as the weeks and months go by, so too will the medications reduce.  Each week is a baby step in the right direction with no signs of rejection and a happy and healthy Kacy.  She just restarted her competitive swim schedule and is ready for her 7th grade year with her dad’s kidney and a new lease on life.   I have a new respect for Tim and Kacy having watched them endure this journey together.  Tim gave her the ultimate gift of life and Kacy’s body welcomed it as her own.  

Clare Lilek is Up for the Challenge

Contributed by: Center for Financial Planning, Inc.

As we told you last month, we’ll be welcoming a Challenge Detroit participant to The Center starting in September. Let us take the opportunity to introduce Clare Lilek in her own words. Clare is a University of Michigan graduate who spent the last year working in Peru as a volunteer. For more about Clare, here is her Challenge Detroit application video.

Raymond James is not affiliated with Challenge Detroit.

The Center Family has Grown

Contributed by: Nick Defenthaler, CFP®

After 9 long months of waiting, my wife Robin and I welcomed our son, Brek Lee Defenthaler into the world on Friday, July 31st!  He really gave his mom a run for her money but she was a rock star and is a hero in my book after enduring almost 18 hours of labor.  Everyone tells you that nothing can prepare you for the moment you meet your child for the first time, and it is so true.  Seeing our son's face for the first time was an incredible memory that will remain vivid for our entire lives.  Robin and I have been home enjoying our new addition for the past week and half and have truly enjoyed introducing Brek to our family and friends.  We are beyond thankful and feel so blessed with everything God has given our family. 

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc. Nick is a member of The Center’s financial planning department and also works closely with Center clients. In addition, Nick is a frequent contributor to the firm’s blogs.

6 Ways to Get Healthy AND Spend Less

Contributed by: Gerri Harmer

If you could choose one of these items in retirement, which would you pick?

1. A vacation home

2. Shiny red convertible

3. Good health

A younger version of yourself would have probably gone for option 1 or 2. But many of us find when we get to retirement, our priorities change.  Without good health, all the other choices are irrelevant if you can’t enjoy them. Many of us dream of living a very active lifestyle when we retire with some money in our pockets.  Wouldn’t it be amazing if we could have all the options? Wouldn’t it be even more amazing if it only took adapting just a few new habits to improve our long-term health?

Here are 6 ways to lean into better health while spending less:

1.     Start giving up that bad habit.  Most things that are bad for your health are bad for your wallet.  Smoking, junk food, fast food and pop can all be eliminated, adding money to your bottom line.

2.     Go outside.  Breathe the air and get fit by walking, gardening or bike riding.  Better yet, head to the park to toss a Frisbee, join in on a sport, or hit a trail. No need to pay fees for gym memberships during the summer.

3.     Buy local or grow your own.  Farmers markets usually have a great variety of organic fruits and vegetables.  You support your community and pay a fraction of the grocery store prices.  Better yet, start your own garden and save even more.

4.     Sleep 15 minutes more.  Give your body a little more time to repair itself.  Go to bed early or prep for your morning the night before so you can sleep an extra 15 minutes. 

5.     Drink water.  Experts recommend drinking 8 glasses a day. Before you allow yourself even a drop of anything else, drink a glass of water first. You’ll be surprised how much energy you gain while flushing all the bad stuff. Water is one of the least expensive beverage options especially when it comes from your filtered fridge instead of a bottle.

6.     Sit with nature.  Reset your stress levels by simply listening to the birds, taking in the scenery or feeling the breeze on your face.  It costs nothing and gives you peace and calm.

It might be difficult to change radically overnight, but leaning toward better habits may lead to a smoother, more permanent change in your health. And it doesn’t hurt that you’ll be saving money along the way!

Gerri Harmer is a Client Service Manager at Center for Financial Planning, Inc.

Live Your Plan: 35 Years of Printmaking

Contributed by: Timothy Wyman, CFP®, JD

There’s nothing more satisfying than seeing a client turn a dream into reality. To me, that’s what financial planning is all about. My clients Norm and Susan Stewart are a shining example. They turned creative talents into a successful 35-year printmaking business in Bloomfield Hills. At Stewart & Stewart, Norm is the Master printer and partner Susan is the graphic designer. If you have ever driven down Wing Lake Road between Maple & Quarton, you may have seen their workshop. Their collection resides not only in Michigan, but all across America and Europe.  And now they’ve been featured in the Journal of the Print World. I’m proud to serve folks like the Stewarts each day. On behalf of everyone at The Center – Congrats!

For another inspirational story of clients living their plans, check out this blog about two more of my clients who authored “A Poetic Life”. Their insight on living each day to the fullest could have you thinking about intentional living.

Timothy Wyman, CFP®, JD is the Managing Partner and Financial Planner at Center for Financial Planning, Inc. and is a contributor to national media and publications such as Forbes and The Wall Street Journal and has appeared on Good Morning America Weekend Edition and WDIV Channel 4. A leader in his profession, Tim served on the National Board of Directors for the 28,000 member Financial Planning Association™ (FPA®), mentored many CFP® practitioners and is a frequent speaker to organizations and businesses on various financial planning topics.

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Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

Raymond James is not affiliated with Stewart & Stewart.

The Center Teams Up With Challenge Detroit

Contributed by: Melissa Joy, CFP®

We are pleased to announce that The Center is participating in the fourth year of Challenge Detroit. Challenge Detroit is a nonprofit organization dedicated to bringing tomorrow's leaders to Detroit for a year.

Challenge Detroit is a leadership and professional development program. Each year approximately 30 talented college graduates work for a Challenge Detroit Company and work with other fellows to serve Detroit-based nonprofits. As a company participant, we will be hiring a Challenge Detroit fellow for the next year. Fellows were selected from a group of hundreds of applicants with final interviews in May.

I had the opportunity to meet Challenge Detroit’s executive director, Deirdre Greene-Groves earlier this year. The work Challenge Detroit is doing is inspirational. We’ve wanted to give back to Detroit and our community and this seemed like the perfect fit.

For more of an introduction to Challenge Detroit, here is a video about the mission of the program. We’re excited to introduce you to our fellow soon. Stay tuned!

Raymond James is not affiliated with and does not endorse the opinions or services of Challenge Detroit.