Butcher Financial, LLC

Did you know that for every $100 spent at a locally owned business, $68 recirculates and remains in the local economy, according to a 2024 report by Sustainable Connections? By contrast, the study found that only $43 stays local when spent at a national chain. As we gear up for the holiday shopping season, remember that Black Friday is just around the corner on November 29, followed by Small Business Saturday on November 30! This weekend presents an opportunity to support our local economy. Why not kick off your holiday shopping by grabbing a coffee from that local café, picking up a unique gift from the boutique down the street, or trying out that restaurant you’ve been meaning to visit? What’s your favorite local small business? Give them a shout-out in the comments! #BlackFriday #SmallBusinessSaturday #ShopLocal #CommunityMatters

?? Watching some fascinating movements in this week's mortgage market! Even with rates reaching 6.90% (the highest since July), we're seeing an unexpected uptick in activity. Numbers tell an interesting story: The market showed a 1.7% increase in total mortgage applications, with refinancing soaring 43% above last year's figures. ?? Most noteworthy is the 7% jump in FHA purchase applications, suggesting that homebuyers are adapting to current conditions. Some markets show more available inventory, highlighting how real estate dynamics can shift even in challenging rate environments. ?? #MortgageMarket #HousingMarket #MarketUpdate #RealEstate https://lnkd.in/gxmH9rWZ

As Thanksgiving approaches, families gather to celebrate gratitude. But it's also an opportune moment for a crucial conversation: discussing finances with aging parents. As financial professionals, we've seen too many families postpone this "Money Talk." Sound familiar? Don't wait. Your parents will appreciate your concern, and addressing this now can benefit everyone in the long run. Here's our guidance to navigate this important discussion: 1?? Timing is Key: It's easier to discuss personal finances when there's no immediate pressure. 2?? Set the Right Tone: Frame the conversation around helping them maintain independence, not taking control. 3?? Come Prepared: Familiarize yourself with their potential concerns–healthcare costs and living arrangements. 4?? Use 'I' Statements: "I want to make sure I understand your wishes." To some, that sounds better than, "You need to tell me about your finances." 5?? Start Broad: Begin with general questions before diving into specifics. 6?? Be Patient: This may not be a one-and-done conversation. It may take several talks to build an understanding. 7?? Recognize Their Experience: Acknowledge the wisdom they've accumulated over the years. 8?? Suggest a Family Finance Day: Propose a day where the family openly discusses financial matters, making it a normal topic. Remember, the goal is to help your parents feel supported, not scrutinized. Every family's situation is unique, and there's no one-size-fits-all approach. For personalized strategies, our team can help guide these sensitive conversations. #FamilyFinances #RetirementTalk #ElderCare

As financial professionals, we're used to crunching numbers. But what if I told you the most valuable review doesn't involve a single spreadsheet? This year, I'm challenging myself (and you!) to conduct a personal year-end review that goes beyond finances. Here's a sneak peek at my top three reflection points: Celebrating wins (big and small) Skill evolution Gratitude check Why? Because true financial well-being is intrinsically linked to overall life satisfaction and personal growth. Want to join me in giving yourself a year-end review? Reach out to our office! #YearEndReview #PersonalGrowth #FinancialWellbeing

Important updates about Medicare Part B premiums for next year: The standard monthly premium is increasing to $185.00, up $10.30 from 2024. Key changes to know: Monthly premium: $185.00 (up from $174.70) Annual deductible: $257 (up from $240) This change affects both automatic deductions and manual payments. It's worth noting that these adjustments reflect typical healthcare cost trends and usage patterns. Higher-income beneficiaries may see different premium amounts based on their specific situation. Remember: These changes take effect in January 2025. If you're receiving Social Security benefits, adjustments will happen automatically. #MedicareCoverage #Retirement #HealthcareCosts #SeniorCare https://lnkd.in/ei5awa-k

Looking at October's inflation numbers, there's an interesting story unfolding. The overall rate hit 2.6%, but the shelter costs are raising eyebrows. They're still climbing and made up over half of the month's increase. ?? A few key insights worth noting: - Housing costs rose 0.4% in October, double September's increase - Energy costs have stabilized after recent declines - Food prices saw a modest 0.2% uptick - Used vehicle prices are trending up again The real story here isn't just in the numbers - it's about understanding how everyday costs continue to evolve in our economy. While some areas show improvement, others remind us why staying informed about economic trends matters for long-term financial confidence. #FinancialEducation #EconomicTrends #InflationUpdate #MoneyMatters #MarketInsights #WealthMindset https://lnkd.in/e2DyPdxe

?? Sometimes, the most incredible discoveries happen by chance. In Poland's Wdecki Landscape Park, what began as the recovery of a WWII soldier's grave transformed into an archaeological treasure trove. Beneath the soil lay centuries of history: delicate Neolithic pottery preserved as if frozen in time. Ancient Mesolithic tools—the oldest ever discovered in this protected preserve—tell stories of early human innovation. Among these relics, a scattered collection of 30 coins sparkled, and each one was a messenger from different epochs of European history, from the mighty Roman Empire to the Byzantine era. ?? Nature, it seems, has been the perfect curator, preserving these priceless artifacts in pristine condition for millennia. ?? The excavation continues, promising more chapters of history waiting to be uncovered in this remarkable site. #Archaeology #HistoricalDiscovery #CulturalHeritage #AncientHistory #EuropeanHistory https://lnkd.in/endT8x5f

As December 31 approaches, don't forget to check your pre-tax health accounts: 1?? FSA (Flexible Spending Account): ? Review your balance ? Consider using the remaining funds for eligible expenses ? Remember: many FSAs have a "use it or lose it" policy 2?? HSA (Health Savings Account): ? Check your year-to-date contributions ? Consider adjusting your contribution amount in 2025 if appropriate ? Remember: 1) HSAs roll over, and 2) contribution limits reset annually Any money withdrawn from your HSA for a nonmedical reason is considered taxable income and faces an additional 20% penalty. This penalty is void after age 65; however, withdrawals would still become taxable income. Remember, once you start Medicare, you can no longer contribute pre-tax dollars to your health savings account (HSA). 3?? DCFSA (Dependent Care FSA): ? Verify your balance ? Don’t forget to submit receipts for eligible expenses (you have until April 30, 2025, but it's best to stay on top of these things) Take a few moments to check up on any FSA accounts and HSA before the year ends. #HealthSavings #TaxStrategy #FSA #HSA #YearEndStrategy

?? 4 things you may not know about Social Security 1?? In February 2024, the average Social Security retirement benefit was around $1,862 per month or $22,344 per year, according to a May update from the Center on Budget and Policy Priorities. 2?? Depending on your circumstances, you may be eligible for Social Security benefits at any age. For example, if you are the spouse, child, or dependent parent of a deceased worker. 3?? Benefits can increase with age. You can increase your Social Security benefits by delaying benefits until age 70. 4?? It can get complicated: Understanding Social Security can be tricky due to factors like earnings limits, spousal benefits, and survivor benefits. Don’t take Social Security for granted. Understand the details and create a personalized strategy that works for you. A financial professional can help. #SocialSecurity #Retirement #FinancialProfessional

Here’s a surprising stat! Almost 1/3 of investors who had rolled over their 401(k) into an IRA still had their assets in cash or cash equivalents a year later! That was the finding of a 2024 Vanguard study reported in the July 22 edition of The Wall Street Journal. And get this… rollovers that are still in cash after the first year are likely to stay that way for at least 7 years! Younger investors (ages 20–29) are least likely to move out of cash, which is a bit concerning since they have the most to gain from the power of time. If you—or anyone you know—has switched jobs, take a look at your rollover and understand how it's invested. Make sure your retirement savings are working hard for you. Remember, once you turn 73, you must take required minimum distributions from your 401(k), IRA, or other defined contribution plans in most cases. Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59?. Also, remember that investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. #RetirementSavings #401kRollover #InvestmentTips #PersonalFinance