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Financial Guide RICE COUNTY

February 2019 | Faribault Daily News | Northfield News

Inside:

The Benefits Of Giving Plus:  Why Do I Need a Business Succession Strategy?  What’s Keeping You From Protecting Your Family’s Future?  The rising age of Full Retirement  And more

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RICE COUNTY FINANCIAL GUIDE

Wednesday, February 20, 2019

Investing is about more than money. At Edward Jones, we stop to ask you the question: “ What’s important to you?” Without that insight and a real understanding of your goals, investing holds little meaning. Contact your Edward Jones financial advisor for a one-on-one appointment to discuss what’s really important: your goals. Faribault Greg Lee

Cate Grinney, CFP®

Jacob L Womeldorf

1645 Lyndale Ave N Faribault, MN 55021 507-334-9936

404 Heritage Place Faribault, MN 55021 507-334-1666

318 Northwest 4th Street Faribault, MN 55021 507-332-2957

Jim Harding

Tom Klemer

404 Heritage Place Faribault, MN 55021 507-334-1666

200 8th Ave NW Faribault, MN 55021 507-334-3149

Brian T Panettiere

Christian Lockner, ChFC®

Greg Pierce, CRPC®

Financial Advisor

1250 South Highway 3 Northfield, MN 55057 507-645-0270

509 Division St Northfield, MN 55057 507-663-8809

Financial Advisor

Northfield Financial Advisor

205 West 3rd St Suite B Northfield, MN 55057 507-664-1191

Jon M Snodgrass, CFP®

Financial Advisor

158 North Water St Northfield, MN 55057 507-663-0325

www.edwardjones.com Member SIPC

Wednesday, February 20, 2019

RICE COUNTY FINANCIAL GUIDE

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The Benefits Of Giving BY DEE BJORK Executive Director The Faribault Foundation It’s the gift that keeps on giving. Simply put your contribution continues to give over time. When you contribute to your local nonprofit, you give that organization the opportunity to use your dollars to make a difference in your community. The Faribault Foundation is your community foundation that

works to promote and enhance the quality of life in the greater Faribault area. The Foundation awards Community Pride Grants each year, provides several organizations with fiscal sponsorship and are the eyes and ears of the needs in our beautiful historic city. Without the generosity of our donors we would not be able to fulfill the needs we see each year. If you are 70 ½ years old and are required by your IRA investment to take a portion of those

funds each year, you can donate those dollars tax free. Your financial consultant would direct those funds so the organization of your wishes, including your own church can prosper. Perhaps you might decide to do this on an annual basis with those required distributions. What a gift to give to a nonprofit near and dear to you and your family. As you plan your will think about the benefits of leaving some of your estate to a nonprofit. Its so simple to do at the

time you are drafting your final wishes. An endowment can benefit an organization and your gifts continue to give back to your community long after you are gone. Sir Winston Churchill once said, “we make a living by what we get, but we make a life by what we give.” As a citizen of Faribault and the Director of the Faribault Foundation I take great pride when I travel around the city to see the work we have done or been a part of. The Paradise Cen-

ter for the Arts, the 2nd Street Garden, Music in the Park, Cathedral Café, The Virtues Project, The Aquatic Center, The Tilt a Whirl Car Project or the Mentoring Project (partnering senior and teens to teach technology), The Security Bank Clock restoration, The Mural Society, are just a very few projects in which the Faribault Foundation has been involved As children we were taught to leave the world in a better place than we found it. Faribault

has been good to our family. We prospered in our businesses, we developed friendship in work, play and within our spiritual community. We enjoyed recreation, parks, events and a city well maintained. It is our responsibility to help continue those efforts in Faribault. Contribute your money, time and efforts to continue to give back to the community that has given so much to you and your loved ones. Leave Faribault in a better place through your generous donation.

Why Do I Need a Business Succession Strategy? BY Daniel Hummel close family. They’ll take care of Farm Bureau Financial Services everything when you’re gone. Northfield Office The fact is that less than a third of family-owned businesses It’s like a child to you. You’ve survive the transition from the nurtured it and watched it grow first generation to the second, and develop. You’ve put your and only 16.5% survive into the heart and soul into your family third.1 Even in the closest famifarm or small business … and it lies, it’s wise to have an airtight didn’t take days or weeks. It took strategy in place – especially if decades to build your operation you want to make sure everyone’s to the size, scope and value it treated fairly and your operation holds today. continues for generations to Creating a strategy for tran- come. Having a strategy in place sitioning it to the next genera- is one key to the future success of tion doesn’t happen overnight, your business. either. It takes careful planning and teamwork to finalize a sound Advantages of Business Succesbusiness succession plan. Maybe sion Planning you’re not ready to start the conAn effective family busiversation … or maybe you think ness succession plan offers you it can wait. Why do you even a great opportunity to maximize need a formal plan? You have a the value of your business assets,

Financial Guide RICE COUNTY

A special project of the Faribault Daily News 514 Central Avenue, Faribault, MN 55021 Publisher CHAD HJELLMING

minimize taxes, and continue the privileges of and potential for family business ownership. There are many other benefits to developing a strategy for the transfer of your business to the next generation: • Ensures a family business remains in the family, if desired • Preserves goodwill among the children, since heirs will be treated fairly • Can increase the likelihood of a more profitable business and more dependable retirement income for the business owner • If the business owner has a buyout in mind, the business heir can explore funding options during the planning process, including a bank loan, installment contract, sinking fund or life inA special project of the Northﬁeld News 115 5th Street W, Northﬁeld, MN 55057 Publisher CHAD HJELLMING

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surance • A succession plan can be structured to give the business heir an opportunity to purchase shares of the business from siblings not involved in the business • Investments and improvements made to the business will belong to the business heir in the future, eliminating the need to “buy them a second time”

liabilities • A description of the goals and objectives for the future of the business • Determination of your business successor • A buy-sell agreement or other transition document or agreement • Your retirement plan • Life insurance and longterm care coverage • Completed and updated estate preservation documents, such as a will, trust and powers of attorney • A timetable for implementation of the transition • Contingency plans

Elements of a Business Succession Strategy Every business succession scenario is unique. Your business succession team of advisers can help you bring all the elements of your business succession strategy together. Common elements in1 clude: http://www.ffi.org/resource/ • An evaluation of your resmgr/fbr_most_popular/fbr_ business, including its value and molly_familybusinesssucc.pdf

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Neither the Company nor its agents give tax or legal advice. Consult with your attorney and other professional advisers for tax and legal advice, and to determine the best solution for your specific situation.

Tips brought to you by Farm Bureau Financial Services. For more information about products and services, call DAN HUMMEL at 507-645-4212.

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RICE COUNTY FINANCIAL GUIDE

Wednesday, February 20, 2019

How to reduce vehicle maintenance costs

(Metro) Major repairs to a vehicle can be expensive. When unanticipated repairs are necessary, drivers’ budgets can be thrown out of whack, potentially causing a domino effect that compromises their ability to pay their bills on time. Whether your vehicle is brand new, a few years old or reaching milestones on its odometer with every mile driven, there are ways to care for the vehicle so you aren’t caught off guard by costly repairs down the road. • ead your owner s manual. A vehicle owner’s manual is a great resource that can help drivers keep their cars and trucks

running strong for years. Every vehicle, whether it’s purchased brand new from a dealership or preowned from a preowned dealer or private citizen, should come with an owner’s manual. Don’t worry if you purchased a preowned vehicle from a private citizen who lost the manual, as many manufacturers have manuals available for free on their websites. Print manuals may cost

some money. Drivers may be able to find their manuals elsewhere online on a site such as Justgivemethedamnmanual.com, which has thousands of manuals from various automakers available. Once you have the manual in hand or on your computer, visit the maintenance section to familiarize yourself with the manufacturer’s recommended maintenance guidelines. Adher-

ing to those guidelines is a great way to keep your car running strong for years on end, and it might just save you from the hassle of sudden expensive repairs. • Protect the engine e engine is arguably the most expensive part of your vehicle to replace, so protecting it should be a priority outine oil changes and oil filter replacements is a great way to protect the engine. Manufacturer guidelines vary in regard to oil change and oil filter replacement intervals, but such recommendations can be found in your manual. • one your DIY skills Drivers also can save money on

maintenance by doing some of their own minor vehicle repairs. You ube is home to many DIY tutorials that can teach drivers how to change their own oil and replace the filters on their vehicles outine repairs are relatively easy, and many tutorials can walk you through them step-by-step. Depending on how much you drive, learning to do your own minor vehicle repairs may save you hundreds of dollars per year. • Perform routine inspections. Older vehicles may or may not alert drivers via noises or leaks that they’re in need of repair outine inspections of

hoses, brakes and tires, which should always be properly inflated, can let drivers know if their vehicles are experiencing problems before those problems grow and become something costly.

Vehicle maintenance costs tend to be most expensive when drivers ignore routine maintenance or miss signs that their cars and trucks might be struggling. By adhering to manufacturer maintenance guidelines and paying attention to their vehicles, drivers can reduce the cost of keeping their cars on the road.

TAX-ADVANTAGED INVESTING

etro Investing has always been a means for people to grow their wealth and make their money work for them Investors know that protecting investment earnings is important, and that

often can be achieved through tax-advantaged investments. a -advantaged investing also called tax-efficient investing, allows investors to maximize the profits they can keep after taxes

are led Investment selection and asset allocation are important factors affecting returns, but minimizing taxes and other costs is also crucial, according to the chwab Center for inancial e-

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ere are some ways for investors to keep more of their assets. A qualified financial advisor can help navigate the waters of the best tax-advantaged options. When investing on an annual basis, there are some general accounts people can use to their advantages. •A k or b ese accounts are an ideal way to get ‘free’ money. Funds in these accounts are put away pre-tax. Because your adjusted gross income is lowered, so is your federally ta able income In addition, some employers may match contributions up to a certain percentage. Companies also may o er oth k plans which differ from traditional plans in regard to when you pay ta es ith oth plans you pay

and older in Canada and can be used for any purpose. • College savings accounts Investing in a plan can be wise for parents. While money is invested after tax, it is tax-free when withdrawn for qualified higher education purposes. • ealth savings accounts o get a ta deduction on health e penses an A is the way to go As are linked to high-deductible health plans and allow account holders to use the funds for qualified spending.

Working with a financial planner can help investors maximize their investments to be as tax-efficient as possible. Financial experts understand funding limits and the timeline in which to invest for tax advantages.

Christopher L. Kitzman CRC® Certified Retirement Counselor®

507-332-4620 MN Ins. License #20043625

Your source for 1Surrender of the contract may be subject to surrender charges. Withdrawals before age 59 1/2 may result in a 10% IRS penalty tax. Additionally, there is a charge for the Simple6 Income Rider once it is activated. Qualifications and restrictions apply for activation. Farm Bureau Life Insurance Company*/West Des Moines, IA. *Company provider of Farm Bureau Financial Services A141 (4-18)

taxes up front. When the money is eventually withdrawn, those withdrawals are tax-free. • I As Individual retirement accounts are similar to k plans in that they re ta deferred owever they generally offer greater freedom in investment choices oth I As like the oth k plans must be paid with after-tax dollars. But the advantages are higher contribution amounts, withdrawals that are tax-free and no mandatory withdrawals when a person reaches a certain age. • a - ree avings Account A Canadian investors can e plore As ese are accounts that do not tax any contributions, interest earned, dividends, or capital gains, and can be withdrawn ta -free It is available to individuals ages

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Located at State Bank of Faribault 428 Central Ave Faribault, MN 55021 Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates.

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Wednesday, February 20, 2019

RICE COUNTY FINANCIAL GUIDE

PAGE 5

What’s Keeping You From Protecting Your Family’s Future?

BY Greg Leel Edward Jones Faribault, MN

Think about your loved ones. What will their future be like? Can you picture them living in your house many years from now? Can you picture your children going to college? Can you picture your spouse or partner enjoying a comfortable retirement? These are all pleasant visions – but what if you weren’t in these pictures? If you were no longer around, you’d leave a gaping hole in the lives of your survivors. The emotional element would be tough enough, but the financial aspect – the permanent loss of your income – could be devastating to all the hopes you’ve had for your family members. Fortunately, you can help prevent this “worst-case” scenario from happening – if you have sufficient life insurance. Unfortunately, a lot of people don’t – even when they recognize the need. LIMRA and Life Happens, two organizations that provide education on life insurance, report the following: Only four in 10 Americans own an individual life insurance policy – although 85% say that most people need life insurance. More than one-third of all households report that they would feel an adverse financial impact within one month of

losing a primary wage earner’s income, while nearly half would feel an impact in just six months. What’s keeping people from providing adequate insurance for their families? Here’s a sampling of the most common reasons: “I just don’t want to think about it.” Let’s face it – like almost everybody, you probably don’t like to think about death. And consequently, you may well be inclined to postpone thinking about life insurance. But if you can just envision what your loved ones’ lives would be like without you, in terms of their financial situation, you will find it easier to address your insurance needs in a calmer, more analytical manner. “I have other financial priorities.” You will always have financial obligations – mortgage or rent payments, car payments, credit card bills, student loans, etc. You can’t ignore these expenses, but ask yourself this: Do any of them really take priority over the future happiness and welfare of your loved ones? Since the answer to this question is obviously “no,” you will likely conclude that maintaining adequate life insurance is one of the most important financial moves you can make. “I can’t afford life insurance.” If you think life insurance is prohibitively expensive, you’re not alone. In fact, 80% of consumers think life insurance costs

Making the most of your HSA Account!

more than it does, according to LIMRA and Life Happens, while nearly half of the “millennial” generation estimates the cost at five times more than the actual amount. In reality, some types of life insurance, such as term insurance, is highly affordable. “I don’t know how much insurance I’ll need.” To determine an appropriate level of coverage, you’ll need to consider a variety of factors, such as the number and age of your dependents, size of your mortgage, spousal income, amount of employerprovided insurance, and so on. A financial professional can help you calculate the amount of protection you need. As you can see, none of the reasons listed above should really keep you from adding life insurance to your overall financial strategy. So, take action soon to help ensure that your wishes for your family’s future will become reality.

Greg Lee I Edward Jones 1645 Lyndale Ave N. Suite 101 Faribault, MN 55021-2934 (507) 334-9936 Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P. and in California, New Mexico and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C.

“Providing Big Time Advice the Small Town Way”

SPONSORED BY Sandy Flom, CPA, CFP® 414 Central Ave., STE A Faribault, MN 507.333.3973 Sandy@FaribaultCPA.com

f you are like me, you have a health insurance policy a high deductible and, unfortunately, the premiums didn’t go down this year either. So, now are you not only stuck with the premiums, but you have to pay the whole deductible before the insurance company will pay anything. Maybe you bought the policy directly from the insurance company, or maybe you got it through work, or maybe you went through MNSure to get the coverage. In any case, the plan you have has HSA behind it, which means you are eligible to contribute to an HSA and take a front-page tax deduction for the amount that you contribute. To open an HSA Account simply go to your bank open another checking or savings account called an HSA, now you can easily transfer money from your regular bank account. This is one thing that many of our new clients are missing. They have a health insurance policy that allows them to contribute to a Health Savings Account (HSA), but they don’t actually put any money into the account, or they only contribute a minimal amount their employer is withholding from their paychecks, because they don’t understand how it works. But they are still spending more money out of their pockets to cover the medical expenses and don’t get any type of a deduction on the Schedule A for it. So the law is, if you have an HSA eligible insurance policy you can contribute money into an HSA Account which can be a savings or checking account. When the money is contributed into this HSA Account you take a tax deduction for the amount that you contributed on the front of your tax return. Then when you take the money out for medical purposes it is not taxable income. There are limits on the amounts that you can contribute depending on the type of coverage that you have, as well as your age. With single coverage, you can contribute up to $3,450 and up to $6,900 a year for 2018. Then, if you are over 55, you can add an additional $1,000 each year as a catchup. Contributions for 2018 need to be made by April 15, 2019. The best part of the HSA is that you contribute money each year but you don’t have to use it each year. It will carry over year to year until you need it, or when you turn 65 you can use the money to pay for your insurance premiums— unlike your flex accounts at work, which are a “use it or lose it” type of benefits, you can carry the HSA over. However, if you are like most people, you don’t have extra cash sitting around to do this. Instead, you make your contributions into your HSA right before you pay a medical bill. You can contribute all the money at once or you can make deposits into your HSA account as your medical expenses come up and you pay them.

Example: You go to the doctor and you get a bill for $250. Before you pay the doctor bill, you first put $250 from your regular account into the HSA account.This gives you the tax deduction, then, you pay the doctor from the HSA account.

TAX DEDUCTION Checking

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1225 Hwy 60 W, Faribault, MN 55021 | Phone: (507) 332-8012 Comprehensive Wealth Solutions LLC and Woodbury Financial Services, Inc. are not affiliated entities. Securities and Investment Advisory Services Offered Through Woodbury Financial Services, Inc Member FINRA, SIPC and Registered Investment Advisor

HSA Account

Medical Bill

Basically you play hopscotch with your money. Before paying a medical bill, you move money from your checking into the HSA Account then pay the bill from the HSA. Just remember that there is a maximum amount that you can contribute per year to the HSA account. Taxes, Investments, Business and maybe a little more Sandy Flom CPA, CFP® Investors should carefully consider the investment objectives, risks, fees and expenses before investing. For this and other important information please obtain the investment company fund prospectus and disclosure documents from your Rep/Advisor. Read this information carefully before investing. Registered Representative, Securities offered through Cambridge Investment Research Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Sandy Flom, LLC are not affiliated. Cambridge does not offer tax advice.

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RICE COUNTY FINANCIAL GUIDE

The rising age of Full Retirement

What it costs to raise kids today

(Metro) A 2017 report from the World Economic Forum recommended that the richest countries across the globe raise their retirement ages in order to prevent the collapses of pension systems. Full retirement age in the United States varies depending on when a person was born, though it’s currently between age 65 and 67. In Canada, eligible residents can begin receiving their full Canada Pension Plans at age 65. But longer life expectancies among today’s men and women as well as considerably longer life expectancies for babies born today is partly why the World Economic Forum recommended raising the age at which people can begin receiving their full benefits. Pension funds have been unable to keep pace as people are living longer but still retiring around the same age as they have for decades. That will create a considerable shortfall by 2050, when the World Economic Forum predicts eight countries, including the United States, Canada, India, and China among others, will face a combined pension fund shortfall of $400 trillion.

(Metro) A generation ago, it was common to see families with four or more children. But things are a bit different today. Pew Social Trends indicates that parents now have 2.4 children on average, a number that has remained fairly stable for two decades. In addition, since 1976, the share of mothers at the end of their childbearing years who have one child has doubled, from 11 percent to 22 percent. While shrinking families may be based on many different factors, including postponing having children until later in life, the rising costs of raising kids may have something to do with it as well. The U.S. Department of Agriculture says the cost of raising a child today has climbed to $233,610, which excludes the expenses of college. A 2011 article that appeared in the Canadian publication MoneySense estimated childrearing costs to be $12,824 per year, which adds up

MAP OUT YOUR Legacy

INVESTMENT FUTURE!

See Chris for help with a financial plan that is tailored to fit your needs, goals and objectives.

Retirement Income

Retirement Accumulation

College Savings

Wednesday, February 20, 2019

Make an appointment today!

to $243,656 by the time a child reaches age 18. It’s also well documented that more adult children are living with their parents for longer than kids used to stay with mom and dad. Pew Research has found that roughly one-third of women and half of men between the ages of 18 and 34 are still living at home, surpassing records set in the 1940s. This means expenditures on child-rearing may continue long after kids reach adulthood. As a result, it is easy to see how having multiple children can be a major source of financial stress for the average middleincome family. The financial planning resource NerdWallet estimates that the cost of raising a child today is higher than the DOA figures, coming in at roughly $260,000 and that is just for the basic essentials. Throw in tiered levels of care, including everything from more expensive choices for food and clothing, and extras for early

childhood care, sports lessons, music instruction, and electronics/gaming, and the cost can get as high as $745,634. Many different factors im-

pact the size of modern families today, and the rising cost of raising children may be the most influential of such factors.

Planning for your future doesn’t have to be complicated. Call me today to see how I can make it simple to help you meet your financial goals and objectives.

Daniel Hummel Financial Advisor 301 Division St Northfield (507) 645-4212

Chris Weber, CFP® Investment Executive

Securities and insurance products are offered through Cetera Investment Services LLC member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investment services are offered. Investments are: *Not FDIC/NCUSIF insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency.

507-645-1841 chris.weber@ceterais.com 1605 Heritage Dr, Northfield, MN 55057

Business Succession | Retirement | College | Estate Preservation Farm Bureau Life Insurance Company*/West Des Moines, IA. *Company provider of Farm Bureau Financial Services M130 (11-17)

Wednesday, February 20, 2019

RICE COUNTY FINANCIAL GUIDE

6 Ways Retirement Has Changed In The Past 8 Years

BY Daniel Hummel ing home prices, and investFarm Bureau Financial Services ment portfolio losses, so retireNorthfield Office ment has been delayed for many Boomers. Of those over 50, 44 Retirement funding can percent plan to work part-time seem like something to deal with in retirement and 33 percent later in life, but setting a strategy plan to delay retirement. Implein place in your early working menting a retirement strategy years is the key to a comfortable early can ensure you’re prepared life in retirement. Find out how to retire at an age you choose. we can help you determine the strategy that’s best for you! 2. You can’t rely on Social Security. The Social Security AdEight years ago the United States plunged into a financial ministration’s Trustees Report situation later dubbed the Great of 2015 states that total expendiRecession. Stocks plummeted, tures have exceeded non-interest home prices dropped, and un- income of its trust funds since employment skyrocketed. The 2010, and they anticipate that the comparisons to the Great De- cash-flow deficit will continue. pression of the pre-World War Depending on Social Security as II era came about quickly, but retirement income is no longer a the generations that lived and wise plan. It’s going to be up to worked through that recession individuals to ensure they have had a positive attitude about planned for their future financial needs. the outcome. Flash forward to today. The country is bracing itself 3. Selling your home isn’t a good for a shift in the workforce as way to get money for retirement. Many areas of the U.S. conthe Baby Boomer generation makes its move into retire- tinue to reflect home prices that ment. This shift makes way for have not recovered from the rethe highly-anticipated, even cent depression. The continually larger generation of the Mil- rising home values that retirees counted on in the past are no lennials. In 2015, the Millennials, longer guaranteed. Retirement who are between the ages of funding should consider this re18 and 34, became the larg- ality. est share of the American workforce. Raised by the Baby 4. Living a healthy lifestyle can offBoomers and old enough to set future healthcare costs. In a recent survey, responremember the impact of the recession, this generation has dents said they consider healthy an interesting set of beliefs that lifestyle habits such as a proper steer the idea of retirement in a diet, regular exercise, and prenew direction. See below for a ventive care as a means to reduce list of considerations Millenni- healthcare costs. Healthcare exals take into account regarding penses can be a major factor in retirement and how the Great retirement funding. Recession of 2008 is affecting 5. Realize that you will have to their retirement funding. withdraw money from retirement 1. People aren’t retiring as early accounts and savings accounts longer than you anticipated. as they used to. Life expectancy has inBaby Boomers have had to deal with job losses, fall- creased from 75.4 years in 1990

to 78.8 in 2013, so an increase in retirement savings will be necessary. Cutting back on non-necessities is one way to deal with needing additional savings, but healthcare expenses and other necessary costs aren’t easily reduced. With Social Security payouts in doubt for Millennials, it’s critical to start saving for retirement now. 6. It’s vital to take an active role in managing your own financial accounts and there are services to help. Don’t raise your hands in surrender to understanding financial decisions! We are here to help. Our Farm Bureau Financial Service agents know the ins and outs of which strategies will work for you. If you want to plan for your future, but you aren’t sure where to start, call Daniel Hummel at 507-645-4212. Sources: ht t p : / / m o n e y. u s n e w s . c o m / money/blogs/planning-toretire/2011/05/27/10-ways-therecession-has-changed-retirement http://www.forbes.com/sites/ samanthashar f/2014/07/30/ the-recession-generation-howmillennials-are-changing-moneymanagement-forever/ http://www.pewsocialtrends. org/2010/06/30/v-retirementworries/ http://www.pewresearch.org/facttank/2015/05/11/millennialssurpass-gen-xers-as-the-largestgeneration-in-u-s-labor-force/ Securities & services offered through FBL Marketing Services, LLC+, 5400 University Ave., West Des Moines, IA 50266, 877/860-2904, Member SIPC. Farm Bureau Property & Casualty Insurance Company+*, Western Agricultural Insurance Company+*, Farm Bureau Life Insurance Company+*/West Des Moines, IA. +Affiliates *Company providers of Farm Bureau Financial Services

PAGE 7

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RICE COUNTY FINANCIAL GUIDE

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Wednesday, February 20, 2019

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