How to Make the Federal Funds Rate Work for You

Contributed by: Kelsey Arvai, CFP®, MBA

It is worth reviewing how interest rates work and how you might consider adjusting your saving, spending, and investing strategies. Please always consult your CFP® professional regarding your specific situation and what is right for you. The Federal Reserve interest rate (also known as the federal funds rate) is the interest rate at which banks and credit unions borrow from and lend to each other. It is determined by the Federal Reserve System (also known as the Federal Reserve or simply the Fed). The Fed is the central banking system of the United States, and the federal funds rate is one of the key tools for guiding US monetary policy. The federal funds rate impacts everything from annual percentage yields (APYs) you earn on your savings to the rate you pay on credit card balances.

The Fed was first created in 1913 with the enactment of the Federal Reserve Act. A series of financial panics, specifically a severe one in 1907, led to the desire for central control of the monetary system to alleviate financial crises. The Fed is composed of several layers governed by the presidentially-appointed board of governors (known as the Federal Reserve Board or FRB). Historical events such as the Great Depression and the Great Recession have led to the expansion of the roles and responsibilities of the Fed. One of the functions of the Fed is to manage the nation’s money supply through monetary policy. Three key objectives have been established by Congress for monetary policy in the Federal Reserve Act – maximizing employment, stabilizing prices (prevention of inflation or deflation), and moderating long-term rates. The Fed largely implements monetary policy by targeting the federal funds rate – typically by adjusting the rate by 0.25% or 0.5%. The way it works is when you deposit money at a bank or credit union, those deposits provide banks with the capital needed to extend loans and other forms of credit to clients. Banks are required to keep a certain percentage of their total capital in reserve to help guarantee their stability and solvency.

The current federal funds rate is between 4.50% and 4.75% as of early February (part of the effort by the central bank to control inflation and maintain a stable economy). When interest rates are rising, make sure you look for high-yield savings opportunities, pay down credit card debt, and, if you’re looking for a car or home, make sure your interest rate reflects the current rate.

If you have a credit card, the most important strategy to focus on right now is prioritizing paying it off. While changes to interest rates will not affect your current fixed-rate loans, such as your car loan or mortgage, if you carry a balance on a credit card, the rate you owe on that money will continue to rise alongside short-term rates set by the Fed. If you cannot pay down your debt quickly, consider moving your debt over to a balance transfer credit card that could ensure you will pay no interest on your balance for a number of months.

On a positive note, rising interest rates create savings opportunities. Even though interest rates on deposits tend to correlate with the rise of the fed funds rate – you will likely earn next to nothing on your regular savings account, which typically is around 0.01%. If you have accumulated a large amount of cash in the bank above your current cash needs and emergency savings (three to six months of expenses), you might consider looking to a high-yield savings account, a money-market fund, or a one year Treasury bill (T-bill). Rates have increased quite a bit lately; the one year bill is now at 5.07%, and the two year is around 4.65%. Interest on T-bills is not taxable at the state level. Not a significant impact for Michigan residents, but if you live in a high-income state such as California, these become even more attractive. Our team has identified several money markets funds offering yields of around 4.5% (more than you would typically see at the bank).

The Federal Funds Rate is important to understand as the rate changes can impact your wallet. Ultimately, it is your own habits that are the main factor in determining your financial situation. As always, if you have any questions, feel free to contact our Team at The Center; we would be happy to help!

Kelsey Arvai, CFP®, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of the author and not necessarily those of Raymond James. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements.

Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment advisory services offered through Center for Financial Planning, Inc.® Center for Financial Planning, Inc.® is not a registered broker/dealer and is independent of Raymond James Financial Services.

An investment in a money market fund is neither insured nor guaranteed by the FDIC or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

Investors should consider the investment objective, risks, charges, and expenses carefully before investing. The prospectus, which contains this and other important information, is available from your Financial Advisor and should be read carefully before investing.

Financial Resolutions to Consider for 2023

Contributed by: Kelsey Arvai, MBA

As the year comes to a close, it is time to start thinking about the New Year and starting it off on the right foot. What better way to accomplish this than by improving your financial health in 2023? January is Financial Wellness Month and Wealth Mentality Month – which serves as a reminder to get our finances in order and plan out our financial strategies. It is also the perfect opportunity to check in with your Financial Advisor to ensure you are financially prepared both in the short and long term.

While planning your financial resolutions, remember to be specific about what you want and why. The key to success is being clear about your priorities and choosing a particular goal. Make sure your goals are attainable, write them down, and post them somewhere where you will be reminded of them often. You can ensure accountability by creating calendar reminders to check in on your goals throughout the year.  

For additional resources on Financial Planning tips going into the New Year, check out Sandy Adams' blog from last year. I have also provided some additional ideas below from a blog I wrote last year:  

Automate Savings & Debt Reduction

Establishing and maintaining a positive cash flow is a top-tier priority for your financial health. Automation is key to efficiency and effectiveness while working towards your financial goals. Prioritizing your savings contribution through automation helps hedge against the temptation to spend the funds elsewhere. Utilizing automatic payments for your credit card could help your credit score if the payment happens before your due date. After establishing an emergency fund through your automated savings, you might consider directing excess cash to your retirement and health savings plans.

Max Out Your 401(k) & Health Savings Account (HSA)

The beginning of the year is a great time to review your 401(k) and HSA contributions to ensure that you are maximizing your benefits and taking advantage of increased deferral limits for 2023. 401(k), 403(b), and most 457 plan limits are now up to $22,500 for elective employee deferral. The catch-up contribution limit for employees aged 50 allows for an additional savings of $7,500. Similarly, HSA contribution limits are up to $3,850 for individuals and $7,750 for family coverage, with an additional $1,000 for employees 55 for older.

It is estimated that couples retiring today will face $200,000-$300,000 of out-of-pocket medical expenses over their retirement years. Since HSAs are not "use-it-or-lose-it" accounts, and they can be spent on any expense without penalty after 65, it is advantageous to fully fund these accounts every year.

Plan for Charitable Giving

Most people wait until December to give, but we recommend not being in such a rush that you wait until the end-of-the-year deadline and lose sight of your charitable goal. The beginning of the year is a great time to develop a plan for your year ahead. Consider reading the following blog posts to help you get started by picking a charity that is fulfilling for you.

How to Pick a Charity…During a Pandemic Part 1: Important Documents

How to Pick a Charity…During a Pandemic Part 2: Commitment to the Mission

How to Pick a Charity…During a Pandemic Part 3: Resources

Invest in Your Emotional and Physical Well-Being

As you take stock of your financial health this year, carving out time for your physical health is equally paramount. There is a connection between health and wealth; each should be analyzed and reviewed professionally, at least annually.

Reach Out to Your Financial Advisor 

Working with your advisor, at least annually, can provide support to keep you on track while determining and working towards financial goals.

On behalf of all of us at The Center, we wish you a happy and healthy 2023!

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of the Kelsey Arvai, MBA and not necessarily those of Raymond James. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Center for Financial Planning, Inc. Center for Financial Planning, Inc. is not a registered broker/dealer and is independent of Raymond James Financial Services.

Giving Tuesday: What It Is and Why It Matters

Contributed by: Kelsey Arvai, MBA

Every act of generosity counts, and everyone has something to contribute toward making the world a better place. GivingTuesday was created in 2012 with one mission; to start a day encouraging people to do good. Since then, the movement is now global, inspiring hundreds of millions of people to give, collaborate, and celebrate generosity. 

The biggest celebration of generosity, GivingTuesday, is celebrated annually on November 29th. We welcome you to join the movement this GivingTuesday, every Tuesday, or every day - whether it's time, a donation, or the power of your voice in your local community. Check out this video on Three Tax-Savvy Charitable Giving Strategies to learn more.

The Center participates in giving year-round. The Center's Charitable Committee facilitates this framework for giving year-round. Our mission is to contribute time and donations to the following three areas – Financial Literacy, Community Needs (Metro Detroit), and Staff Involvement. 

Below are some of the philanthropic works we have done or plan to do this year. Additionally, The Center offers eligible employees up to two days off with pay per year for engaging in organized volunteer community projects and facilitating involvement in community activities. The Center also encourages employees to make gifts to charities of their choice. Each employee of The Center can request The Center to match their donation up to $100 annually. You can visit Giving Tuesday’s website to learn more about how you can give time, gratitude, or support to positively impact your community and create a better tomorrow.  

Upcoming Events

• Brilliant Detroit – Tuesday, November 1st through TOMORROW, November 30th

• The Charitable Committee is working with BrilliantDetroit to host a toy drive this holiday season! To ensure the success of this drive, we’re doubling down on our efforts. If you donate a toy in the next 48hrs (today, 11/29 or tomorrow 11/30) The Center will make a financial match to your donation! See more details HERE!

• BrilliantDetroit is a nonprofit dedicated to building kid success stories for Detroit families and providing proven, year-round educational programming for students in high-need neighborhoods.

• Baldwin Society – Friday, December 9th

• Center Team Members will help to assemble Holiday Hope Care Packages for low-income seniors.

Past Events

• Gleaners Mobile Grocery - March

  • Jeanette LoPiccolo, Mallory Hunt, Logan Dimitrie, and Tim Wyman volunteered with Gleaners Mobile Grocery to help local seniors in our community.

• Battle of the Brackets – A Center Spinoff Competition - March

  • To celebrate the National Basketball Tournament this year, we set aside our favorite teams and adopted asset classes instead. You may be thinking – that sounds kooky! It is a bit. Our celebration is a mash up of education, some charitable giving, and a bit of friendly competition.

  • Here’s how it works: Our investment portfolios contain mutual funds and ETFs from various asset classes such as U.S. Large Cap Stocks and U.S. Municipal Bonds. The asset classes are our basketball teams. Nick Boguth, our trusted portfolio manager, highlighted 28 different assets classes, then each was selected by a team member and entered into our brackets. The top four winners will receive a donation to their favorite nonprofit organization.

  • To kick off our competition, our amazing team members, Nick Boguth and Jaclyn Jackson led a presentation explaining which asset classes hold the largest concentration of investment dollars and how The Center’s investment team builds client portfolios. Each team member then selected their best guess to “win”. It was a volatile few weeks! Our lucky winners included Sarah McDonell (Real Estate), Matt Chope (Global Macro), Emily Moore (Municipal Bonds), and Raya Chope (U.S. Momentum Stocks). Center for Financial Planning is donating $1,000 total to help support 4 nonprofits of their choosing. Go team!

• Greening of Detroit - April

  • Jeanette LoPiccolo, Gerri Harmer, Logan Dimitrie, and Bob Ingram participated in a tree planting event with Greening of Detroit.

•  Michigan Council of Economic Education - April

  • The Center is delighted to co-sponsor the Michigan Council on Economic Education’s 2022 Personal Finance Challenge as it highlights the importance of making smart personal financial choices and the career opportunities in the financial planning industry.

• Money Smart Week is a national campaign by the Federal Reserve Bank to encourage good financial decision making by individuals and communities through free online education. To show our support for the Money Smart Week campaign, Center for Financial Planning Inc. is excited to co-sponsor the Michigan Council on Economic Education’s 2022 Personal Finance Challenge. High school students from all over the state of Michigan are invited to compete on April 29th. Teams of 3-4 students review a personal finance case study, then provide a presentation of their financial planning advice. The competition occurs before team of judges in-person at the Macomb Intermediate School District on April 29th. The winning team receives a $250 prize and will advance to a national competition.

• Miles for Money – September

  • Center Team Members logged their miles so that a nonprofit of their choice would receive money; a healthy WIN-WIN. For each one mile walked, biked, ran, jogged, etc. The Center donated $2 up to $100 or 50 miles for the month of September.

• Humble Design – October

• Center Team Members work with Humble Design to impact the lives of individuals, families, or veterans emerging from homelessness. Humble Design works to change lives and communities by custom designing and fully furnishing home interior.

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

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 Kelsey Arvai, MBA and not necessarily those of Raymond James.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc.

The History of Labor Day

Contributed by: Kelsey Arvai, MBA

We celebrate Labor Day to recognize the contribution and achievements of American workers. It unofficially marks the end of summer and is traditionally observed on the first Monday in September.

The history of Labor Day is somewhat grim. At the height of the Industrial Revolution, in the late 1800s, the average American worked 12-hour days and seven days a week to scrape together a decent living. To emphasize the dire working and living conditions, children as young as five or six worked in mills, factories, and mines across the country.

Most workers faced unsafe working conditions with insufficient access to fresh air, sanitary facilities, and break time. Because of this, labor unions first appeared in the late 18th century. Workers began organizing strikes and rallies to protest poor conditions and compel employers to renegotiate hours and pay. On September 5, 1882, 10,000 workers took unpaid time off to march from City Hall to Union Square in New York City, holding the first Labor Day parade in US history.

The “workingmen’s holiday” caught on in other industrial cities, and many states passed legislation recognizing it. Congress legalized the holiday 12 years after workers in Chicago went on strike to protest wage cuts and the firing of union representatives.

We can thank our labor leaders for the fact that we get to enjoy weekends off, a 40-hour work week, sick days, and paid time off. Thousands of Americans have marched, protested, and participated in strikes to create fairer, more equitable labor laws and workplaces – and still do today. So kick back, relax, and enjoy your long weekend!

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

The Basics of Series I Savings Bonds

Contributed by: Kelsey Arvai, MBA

Inflation has been steadily increasing, making Series I savings bonds (I bond), which are investments linked to inflation rates, a very attractive investment. I want to share some key points that will help you determine if it makes sense to consider adding them to your portfolio. 

I bonds are backed by the US Government and offered via Treasury Direct. I bonds earn interest based on both a fixed rate (0.0%) and a rate set twice a year based on inflation. The bonds earn interest until it reaches maturity at 30 years, or you cash it in, whichever comes first. 

Through October 2022, I bonds are earning an interest rate of 9.62%. Meaning that during the first six months that you own the bond, let's say from May 2022 through October 2022, your bond would earn interest at an annual rate of 9.62%. A new rate will be announced every six months based on your bond's fixed interest rate (0.00%) and inflation. The inflation rate is based on changes in the non-seasonally adjusted Consumer Price Index for all Urban Consumers (CPI-U) for all items, including food and energy.

I bonds are attractive but have many limitations and require a fair amount of legwork to acquire. The most significant restriction is that you can only buy $10,000 per year per person. You could also purchase $5,000 in a paper bond with your tax return if you're entitled to a return from the Federal government (although it's too late now unless you've filed an extension). 

To get started on purchasing an electronic I bond, you'd have to open an account with Treasury Direct online. Here is the website for more information.

There are some restrictions on who can own an I bond. You must have a Social Security Number and be a US citizen (whether you live in the US or abroad). You could also be a US resident or a civilian employee of the US, no matter where you live. Children under 18 are eligible for paper bonds as long as an adult buys the bonds in the child's name. Electronic bonds are available as long as a parent or other adult custodian opens a Treasury Direct Account that's linked to the adult's Treasury Direct account. If you'd like to see more about how to purchase a bond as a gift, you can watch a video here.

A few final notes to add, interest is compounded semi-annually. The bond's interest earned in the six previous months is added to the bond's principal value, creating a new principal value. Interest is then earned on the new principal. Rates can go up and down, but you must hold the bond for a minimum of one year, and if you cash out between the end of year one and year five, you could lose your prior three months of interest as a penalty. If inflation subsides, you could be staring at minimal interest rates. Zero is the lowest that the rate would go, so if we entered a period of deflation, there wouldn't be a negative interest rate. As always, consult your financial advisor before making any changes to your current portfolio.

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

The information contained in this letter does not purport to be a complete description of the securities, markets, or developments referred to in this material. 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 Kelsey Arvai, MBA, and not necessarily those of Raymond James. Expression of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. Individual investor’s results will vary. Past performance does not guarantee future results. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.

Providing the Best for Your Pets

Contributed by: Kelsey Arvai, MBA

**Register for our upcoming volunteer event at The Ferndale Cat Café HERE!

Did you know that May is National Pet Month? This month celebrates the joy that pets bring into our lives. In honor of our pets, The Center will spend the month of May promoting the benefits of pet ownership and supporting local non-profits who offer shelter and pet adoption services.

There are many health benefits of owning a pet. According to the Center for Disease Control (CDC), pets can help manage loneliness and depression through companionship and decrease blood pressure, cholesterol levels, and triglyceride levels through regular walking and playing. If you have a pet already, you probably have already experienced some of these benefits. However, if you are in the market to adopt a new pet, it is crucial to do your research prior and consider the following question: Do I have the capacity in my life to give this pet the proper home it deserves? To name a few factors to consider before increasing your family in size, think about how much exercise the pet will need, the type of food it eats, the habitat it will need to thrive, the pet’s size, cost, and life expectancy. 

There are also some financial planning aspects to consider, such as pet insurance and estate planning for your pets. Pet insurance can help cover the cost of medical care for your animals. Typical policies can cost around $50 per month for dogs and $28 per month for cats. Premiums will vary depending on your pet’s age, breed, cost of services where you live, and the policy you choose. Pet insurance is not suitable for everyone, but it is important to obtain it before your pet has an expensive diagnosis and you are potentially looking at $5,000 or more in medical bills.

Planning for your animals can be a challenge that is often overlooked. It is estimated that more than 500,000 loved pets are euthanized annually because their pet parent passed away or became disabled. It is possible to craft a plan to protect your pets using your will or by establishing a trust. When planning for your pet, it is important to first determine if your pet has a unique circumstance (i.e., health issue) and who you would like your pet caregiver to be if you can no longer take care of it.

Once you have confirmed that your choice is willing, you will want to determine a few things. This can include where you want your pet to live, what financial resources you will provide to ensure your pet is adequately cared for, and who you want to be responsible for administering your assets left behind to care for your pet. Using these elements to create a plan will ensure your pets are properly cared for when you cannot do so yourself.

Each week, The Center will be hosting trivia on our Facebook to spotlight local non-profits dedicated to finding loving, forever homes for animals. Be sure to follow us for a chance to win a $50 gift card for your pet!

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

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 Kelsey Arvai, MBA and not necessarily those of Raymond James.

The Power of Compounding Interest

Contributed by: Kelsey Arvai, MBA

Saving for retirement can feel like flossing your teeth; we know we should, but sometimes it is easier to keep putting it off. If you are young and have yet to prioritize your retirement savings, you are not alone. According to Investment Executive, only 58% of Millennials are actively saving for retirement. While this might sound as scary as flossing your teeth, time is your greatest advantage.

When comparing a 25 and 35-year-old who have each saved $10,000 in their 401(k)’s, the 25-year-old could build a $200,000 retirement fund by the time they are 65 without adding any more money (assuming an 8% rate of return). In contrast, the 35-year-old could reach $100,000 of savings by age 65 without saving another dime (assuming an 8% rate of return). Both are able to grow their savings massively, thanks to compounding interest. The 25-year-old has had more time (10 years) for their interest to compound, hence the $100,000 advantage over the 35-year-old. The lesson here is that the sooner you start saving for retirement, the more time you will have to take advantage of compounding interest.

Compounding happens when your savings are reinvested to generate their own earnings, those earnings create more, and so on. This is the key to helping grow your savings, and getting started early pays off. With time on your side, saving becomes much more pleasant and accessible. If you have access to an employer-based retirement plan, it is a good idea to make the most of it. Most employers will also match some of your contribution, and it is in your best interest to contribute at least that match, so you are not leaving any money on the table. For example, if your employer matches up to 3%, it would be most beneficial to you to defer at least 3% of your paycheck (pretax) so that you retain the full 6% (3% of your deferral + 3% employer match) of your income going into your retirement savings.

Since the deductions are pretax, meaning the savings happen before the check hits your bank account, you will likely hardly notice your money being put away once you have created the habit. The longer you wait to plan for your retirement, the more you will need to invest later on. In your twenties and thirties, a longer time horizon before you retire affords you the ability to invest largely in stocks, where you will be able to handle market losses and benefit from market growth.

An early start is only the beginning for retirement savings. It is important to stay consistent with your commitment to your retirement savings. The sooner you start saving, the better - reach out to us if you have any questions on how to get started! 

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

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 Kelsey Arvai, MBA and not necessarily those of Raymond James.

Tips to Help You Achieve Your Financial Goals

Contributed by: Kelsey Arvai, MBA

We hope your 2022 is off to a great start! As we all know, the New Year is an opportune time to reset and reevaluate your goals. With this in mind, we have come up with some simple yet effective strategies to position yourself for a prosperous year ahead.

Automate Savings and Debt Reduction

Establishing and maintaining a positive cash flow is a top-tier priority for your financial health. Automation is key to being efficient and effective while working toward your financial goals. Prioritizing your savings contribution through automation helps hedge against the temptation to spend the funds elsewhere. Additionally, utilizing automatic payments for your credit card could help your credit score if the time the payment happens is before your due date. After establishing an emergency fund through your automated savings, you might consider directing excess cash to your retirement and health savings plans.

Max Out Your 401(k) and Health Savings Account (HSA)

The beginning of the year is a great time to review your 401(k) and HSA contributions. In doing so, you can ensure that you are maximizing your benefits and taking advantage of increased deferral limits for 2022. 401(k), 403(b), and most 457 plan contribution limits have been bumped up to $20,500 for elective employee deferral.

HSA contribution limits have also been increased to a maximum of $3,650 for individuals and $7,300 for family coverage. It is estimated that couples retiring today will face $200,000-$300,000 of out-of-pocket medical expenses over the course of their retirement years. HSA balances can build and grow over time, and these accounts can be used to offset healthcare costs in retirement.

Plan for Charitable Giving

The beginning of the year is also a great time to determine your charitable goals and budget for the year ahead. We have written extensively on how to best pick a charity, so if you are unsure of which causes or organizations you would like to support, these blogs may be helpful!

How to Pick a Charity…During a Pandemic Part 1: Important Documents

How to Pick a Charity…During a Pandemic Part 2: Commitment to the Mission

How to Pick a Charity…During a Pandemic Part 3: Resources

Invest in Your Emotional and Physical Well-Being

As you take stock of your financial health this year, carving out time for your physical health is equally paramount. There is a connection between health and wealth, and each should be reviewed by a professional, at least annually.

Reach Out to Your Financial Advisor 

Working with your advisor on an ongoing basis can provide you support to keep you on track while you are determining and working towards financial goals. If you ever have any questions, please reach out to us. We are always happy to help!

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

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 Kelsey Arvai, MBA and not necessarily those of Raymond James.