Searcy Financial Services, Inc.

Tanner enjoyed participating in a service project with his family. His mom purchased kits from Amazon that the whole family could repackage into gift bags. This included items like pencils, stamps, stickers, erasers and more that will be handed out to children that otherwise might not get many gifts this time of year. This was a project that family members of all ages could enjoy!

According to the Social Security Administration, a 20-year-old has more than a 25% chance of becoming disabled before reaching retirement age. Not only would a disability happening early in life be devastating, think about it happening during your career. According to another source, 1 in 5 doctors will become disabled. Loss of income for such a duration has the potential to cause significant financial hardship. And while Social Security Disability Insurance may help, it’s critical to understand that about two-thirds of initial applications are denied and the average SSDI payment is only $1,534 a month. Read More: https://bit.ly/3UZ21Pi

Social Security Announces 2.5% COLA in 2025 - https://bit.ly/4fALOYp Social Security beneficiaries will see a 2.5% increase in their benefit payments in 2025, according to the Social Security Administration. The annual cost of living (COLA) adjustment will affect more than 72.5 million Social Security and Supplemental Security Income (SSI) beneficiaries. This year, Social Security beneficiaries will get a new one-page COLA summary that will detail the new benefits and the exact date the 2025 adjustment will start. Just how much of an increase will depend on the size of the Medicare Part B premium, which is projected to increase to $184 a month in 2025, up from $174.70. Typically, Medicare Part B payments are deducted from Social Security benefits in advance. Social Security plays an important role in retirement. In fact, the 2024 Employee Benefit Research Institute report found that three out of five retired Americans say Social Security is a major source of income in their retirement. While it’s been known for months that the 2025 increase would be smaller than the 2023 and 2022 increases, the final number may impact your overall financial picture. If that’s the case, please let us know as soon as possible. Your retirement income needs may change over time, so let’s not miss an opportunity to make any small adjustments needed to make you feel a little more comfortable as the calendar turns to 2025. If nobody is helping you plan for retirement or factor these adjustments in to your plan, we would be happy to help.

Have you read our latest newsletter? Wealth Matters Newsletter – October 2024 https://bit.ly/3YTfniB What's Inside? -- The 2024 Election and Your Investments -- Can Group and Private Disability Policies Work Together? -- Flowchart: Where Should My Next Dollar Go? -- Cybersecurity Awareness Month Tips -- Video:??Safeguard Your Digital Estate --Team News -- and more! #FinancialAdvisor #newsletter #FinancialNews #financialplanning #InvestmentManagement #election2024 #disability #digitalestate

Our team members in Utah recently gathered together for a service project. They helped make quilts at the Humanitarian Center for the Church of Jesus Christ of Latter Day Saints. Many of the quilts they have been making recently are being sent to Zimbabwe. At the Humanitarian Center, clothing, quilts, and hygiene and school kits are sorted, assembled, and sent throughout the world. These items are processed and shipped to more than 50 countries to aid people of all religions and nationalities. Every year, 300,000 hygiene and school kits, 12,000 quilts, and 8 million pounds of shoes and clothing are shipped from the Humanitarian Center to help people suffering from adversity and disaster around the world. In addition to preparing and shipping emergency supplies, the center serves as a training ground to help people—many of whom are refugees and immigrants—develop employable skills and learn self-reliance. Associates in the training program are assigned operation supervisors who help teach work and life skills. English classes are also taught on-site as part of the training program. Employment Services provide the associates with the help they need to find further employment opportunities.

Thank you to Dr. Katie Ervin for hosting Marc Shaffer, CFP?, AIF?, EA on her "The Path to Leadership" podcast. They discuss why human connections are vital in financial leadership and so much more. You can check out the episode here: https://lnkd.in/gUeXYQBJ

Setting Up a Roth IRA for Your Minor Child: A Smart Start to Their Financial Future As financial planners, one tool we discuss with parents is opening a custodial Roth IRA for their minor children. This strategy could provide significant long-term benefits and teach valuable lessons about saving and investing. Let’s explore why this might be a smart move for your family and how to get started - READ MORE: https://bit.ly/3TJFMfD #financialplanning #RothIRA #investing #overlandparkks #peoriaaz #kansascity

We are celebrating Ryan Brooke, CFP?, ChFC? and his 10 year anniversary with Searcy Financial. Ryan supports our clients by delivering financial planning advice and managing client accounts to help enhance quality of life. His mission is to help promote and improve financial literacy and services for people in all stages of life. He hopes to empower individuals to achieve their financial goals. If you want to get to know more about Ryan, visit https://bit.ly/47jPCKL. Ryan, thank you for your dedication and service. We appreciate you!

Ever considered writing your own Will? While you can draft a Will on your own, there are plenty of reasons why you may not want to go that route. Most people do it to save money, but they may overlook or forget to take care of some important details – details that could eventually cost them much more than the amount they could save. Some of the biggest mistakes include: Ignoring state law differences. Will kits and online Wills may not always take state laws regarding the administration of probate into account. An estate planning attorney can inform you of these state laws; a Will kit or website may not. Not revoking an earlier Will. Many Wills contain boilerplate language that automatically revokes any preceding Will. If you are writing your Will totally on your own (some people still do), you may not realize the necessity of such a clause. Assumptions. If you bequeath property to an heir, what happens if you outlive that heir? What if you bequeath an asset to a friend or relative today and that asset is gone when your Will is executed someday? These are important things to contemplate; things that most people who write their own Wills have not considered. Vagueness. Sometimes executors are not given enough power by the language of a Will. Sometimes a home will be left to a spouse, but with no one assigned to pay for upkeep of the home during the rest of that widow’s lifetime. Alternate executors are sometimes omitted from Wills, and names of nonprofit groups can easily be misstated or misspelled, inviting complication and possible dispute of charitable intent. ____________________________ Keep in mind this article is for informational purposes only and is not a replacement for real-life advice. You should consult a legal professional before making any changes to your estate strategy. Fortunately, many financial professionals have relationships with attorneys. Ask for a referral from the financial professional you consult.