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Thursday, October 1, 2020

The FAFSA (Free Application for Federal Student Aid) for the 2021-2022 year opens on October 1, 2020. The FAFSA is a prerequisite for federal student loans, grants, and work-study. In addition, colleges typically require the FAFSA...

 

Thursday, September 10, 2020

Well, of course, this is one of those questions that depends. Most everything in financial planning depends on your particular situation and your overall goals. One thing is for sure, over the next few weeks leading up to November, we...

 

Thursday, September 3, 2020

Any plan you make is outdated as soon as you finish it. Planning is a PROCESS not and EVENT. To be truly effective, any good plan monitors progress and adjusts to changing conditions. It’s very easy for families who commit to a...

 

Thursday, August 27, 2020

Once upon a time, a deposit to a traditional 401(k) gave you a powerful wealth building tool. Today, things are a little different. First, let’s review all the good reasons to participate in the 401(k) when it’s offered at...

 

Friday, July 31, 2020

In these crazy times, we have lots to think about. With the Great Pandemic raging and unemployment soaring, some of us find ourselves thinking about mortality and about the fragility of good health.

 

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Thursday, July 23, 2020

Have I Missed the Pandemic Rally? This has been a crazy year. Markets fell about 34 percent in 33 days bottoming out on March 23, 2020, then rebounded to post the best 50 days in history. And as of July 1, the markets celebrated the...

 

Thursday, July 16, 2020

As July kicks off, we mark the half-way point of the year, and I’m reminded of the Grateful Dead song that says, “What a long, strange trip it’s been . . . .” – Robert Hunter in the Grateful Dead song...

 

Thursday, July 2, 2020

These days there is no shortage of news and commentary about the Covid-19 pandemic and what it means. If you are like me, it can get to be a bit much sometimes. But, with unemployment around 14.7 percent and business profits disrupted...

 

Tuesday, June 23, 2020

Most of you know that the S&P 500 Index fell from an all-time high on Feb. 19 into bear market territory (a close down 20 percent from the high) in a record 16 days. And in less than five weeks, it closed down 34 percent from the peak...

 

Monday, June 22, 2020

When the market falls 6 percent in one day, it most likely feels like you need more cash on hand than usual. Conversely, when the market is climbing 45 percent in roughly 60 days you may decide you want to dump everything in the...

 

Tuesday, June 2, 2020

As a professional retirement planner, I go through the process of retiring approximately 12 times a year with my clients. I see firsthand the process and hazards that families deal with as they shift from working for a living to...

 

Thursday, May 14, 2020

Regular readers of this space know that one of my favorite answers to financial planning questions is, “It depends.” And, of course, the answer to “How much cash is enough?” is “It depends.” Cash...

 

Saturday, May 9, 2020

As I write this, the U.S. stock market is continuing the crazy swings we’ve been enduring during the COVID-19 pandemic. Although the market has continued sideways in May, we have just ended a historic market period. We had one...

 

Thursday, April 30, 2020

On April 29, the Bureau of Economic Analysis released an advance estimate of U.S. economic growth in the first quarter of 2020. The estimate showed a decline of 4.8 percent for the quarter. Remember that this analysis is based on...

 

Friday, April 24, 2020

It continues to be crazy time in America. In Minnesota, we have a “stay at home” order in place. No school for the kids. No face-to-face meetings. No in-person church. Things are challenging. We still don’t know...

 

Friday, April 3, 2020

I’m sure that you are dealing with ongoing uncertainty due to the global impact of the COVID-19 Coronavirus. Whether you’re concerned about your health, your employment, your loved ones, your retirement, or all of the...

 

Friday, March 6, 2020

I’m hearing more about telephone scams where the scammer is pretending to be a government employee. Scammers will try to scare and trick people into giving them their personal information and money. The scammers may threaten...

 

Thursday, February 6, 2020

Regular readers of this space know that the economic experts I trust are confident that we are on the cusp of a recession. The coming recession is a real challenge to your financial goals over the next 12 months. A recession is...

 

Thursday, January 23, 2020

We are about three weeks into 2020. If you are like most Americans, you may have already given up on your New Year’s resolutions. About 40 percent of Americans set a resolution and about 60 percent of them fail within six months...

 

Friday, January 17, 2020

We’ve been hearing conflicting reports about whether a recession is looming. A recent survey of 500 Americans shows many are worried about a recession and plan to adjust. If you’re in that category—or even if...

 

Thursday, January 9, 2020

The Setting Every Community Up for Retirement Enhancement Act of 2019 was passed by Congress and signed into law at the end of 2019. The SECURE Act, as it’s known, represents the most sweeping set of changes to retirement...

 

Thursday, January 2, 2020

“If you want others to be happy, practice compassion. If you want to be happy, practice compassion.” –The Dalai Lama As the year winds down, I find myself thinking of the year ahead and how to make it better. Regular...

 

Saturday, June 10, 2017

Many parents wonder whether they should use retirement funds to pay for college for their children. If your child is looking at attending college in the near future and you’re looking for ways to help your child with their...

 

Saturday, September 24, 2016

When is the last time you reviewed your estate plan? If it has been any longer than about 3 years ago, it is time for you to dust off the cobwebs and evaluate your existing estate plan. Although it is easy to forget about your estate...

 

Thursday, September 22, 2016

Sometimes as we think of moving out of the workforce into retirement, we think that we won't need much to live on. It's easy to be wrong, especially when it comes to health care costs. Recent studies show that retirees will need $130...

 

Saturday, September 17, 2016

When you get serious about retirement, one important question is, "How much savings will I need?" Even if you plan to rent out farmland for retirement income, you still need a nest egg. Part of the challenge to answering the "how much...

 

Thursday, September 15, 2016

When you decide you need advice to meet your financial goals, be sure to keep these keys in mind as you select your advisor. Currently there are very few common standards in the financial service industry, so it's easy for someone to...

 

Thursday, September 8, 2016

In order to be successful in retirement start early and count it down carefully. 10 Years Out from Retirement When you get within 10 years of your target retirement date, it's close enough to be real. You can actually imagine...

 

Tuesday, September 6, 2016

Whether you are 65 or 35, these keys will help you lay the groundwork for a retirement plan that wins for you. Things just aren't like they used to be. No more of simply graduating high school and off to the factory. Then 40 years...

 

Friday, September 2, 2016

When is the last time that you reviewed your estate plan? Here at Dunncreek Advisors, we believe it is important to take a look at your plan at least every 3 years, or any time an important life event has occurred in regards to any...

 

Thursday, September 1, 2016

When you have a family business, there are plenty of decisions to make. In all honesty, your employees rely on you for their well-being. Their wellness is in your hands. So as you make your day-to-day decisions within your business,...

 

Friday, August 26, 2016

Farm business transition requires careful consideration. These questions help. This is part two of our list of questions that can help you decide if the time is right for a farm business transition. Are the parents willing to provide...

 

Thursday, August 25, 2016

When you ask good questions, sometimes you understand the issues better. Am I ready for a farm business transition? When is the best time to start? How do I know when I'm ready to start?When you ask good questions, sometimes you...

 

Saturday, August 20, 2016

The passing of a close family member is never easy. While our focus should be on the enjoyable memories that we had with our loved one, our mind often gets overwhelmed as one deals with a loved one’s estate. The best way to...

 

Friday, August 19, 2016

Legacy planning is a part of the financial preparation process that seldom gets enough attention. Individuals are taught from an early age the importance of a legacy plan. When you ask your friends or coworkers about if they have a...

 

Tuesday, July 26, 2016

Recently my dad and I were discussing the amazing advances in crop production he’s seen over his lifetime. It’s something many of us take for granted. People outside agriculture don’t even see it. But it’s truly...

 

Wednesday, July 20, 2016

With any small business, one significant measure of long-term success is exiting the business on your own terms. Many people are surprised when they learn that exiting a business was unsuccessful. Others are surprised when they learn...

 

Monday, June 20, 2016

Whether it’s the 4th of July or President’s Day, Martin Luther King Jr. Day or Memorial Day, there is a lot of discussion about legacy and what each of those days and people mean to our country. We think there should also...

 

Thursday, September 10, 2015

As we talk about transitioning the business to new management, we must create income for the outgoing owners. The retirement income plan needs to provide adequate income for rising needs over time.

 

Thursday, September 3, 2015

Life is funny.Today, by chance, I was reminded of a speech I heard in November 1978 in Kansas City, Missouri, at the National FFA convention when I was a Junior in high school and an FFA officer.

 

Thursday, August 27, 2015

As we talk about transitioning the business to new management, we must create income for the outgoing owners.