Candid Money with Ashley Bales

Scott’s granddog, Bruiser, made an appearance at the office today and I wanted to smuggle him into my laptop bag and take him home. He’s the sweetest little office mascot! 😭

I shared this nine years ago on my personal page before I was even an advisor and it popped up in my memories today! 🥰 It’s a good reminder that my path was my path for a reason and I’m super thankful that it has led me to where I am now. Sometimes in the middle of the race it’s hard to see the finish line. ❤️

Take some time today to do something for YOU!

Although I’m not much of a golfer, I do enjoy my time networking on the course during local tournaments. It was a BEAUTIFUL day on the course at Terre Du Lac and it was a pleasure talking to everyone that came by to see me! 😀

I LOVED our pre-K providers for both of my girls, but I would be lying if I didn't say that I was happy when Karli went to Kindergarten this year! Excellent childcare is an INVESTMENT, but it could be a barrier to those wanting to start a family in the future. Thoughts?

"...[childcare] now accounts for about 10% of a married couple’s income, the report said, despite the US government’s recommendation that child care shouldn’t top 7% of a family’s income. The average price for one child in care in the US was $11,582 last year, a 3.7% increase from the year prior, the report said."

Child Care Is More Expensive Than Rent for the Average American Family Child care costs have surged so much that researchers say having more than one kid in care is pricier than rents in every US state.

I was on a call with my business coach today and we were discussing “time management” (which I’ve been struggling with). I told her my daughter, Karli, had a field trip today and I couldn’t decide if I should stay at work or take a detour to the field trip - as I’ve been pretty covered up lately. She said “You should definitely go to the field trip.”

She was right. 😭 I would have totally missed this moment (and this smile) had I not taken some time to go see Karli at the park.

I love my career as a financial advisor but my position as MOM will always be number one! ❤️

Happy (early) Mother’s Day to all my clients, friends and family! 👩‍👧‍👧

Today, I visited two locations to provide 401(k) education for employees, and then co-taught a Money Smart for Small Business Owners workshop at Southeast Economic Development Fund, Inc. with Steven Brewen on retirement & succession planning.

My whole day centered around planning financially for the future - like WAYYY down the road for some. It can be easy to get overwhelmed by how long and how many dollars it may take to reach future retirement goals. But nothing will *ever* happen if you don’t start! A small step is still a step, and no one is going to save for your retirement besides you! 🙌🏻

Happy Administrative Professionals Day to this awesome gal who works hard behind-the-scenes to do all of my paperwork, schedule client meetings, etc. You’re the real MVP! 😍

The theme for my table at the Rise to Inspire Her event in Bonne Terre was… 🥁…

“A Man is not a Retirement Plan” 👏🏻

According to a 2021 Fidelity Women and Investing Study, only 31% of women feel confident planning for financial needs in retirement. If you’re in the 2/3 of women who are feeling less-than-excited about your planning in this area, I’d love an opportunity to sit down and discuss ways we can work together to increase that financial confidence! 💪🏻

Here’s the full study results:https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/about-fidelity/FidelityInvestmentsWomen&InvestingStudy2021.pdf

Tired of shredding everything with those tiny shredders at home? Have a pile of confidential documents that need to be destroyed? Bring them by our office on April 19th and let Summit Shredding take care of it for you! 😍

🎉Exactly one week from today! Bring your box of old/outdated financial documents and let Summit Shredding do the rest! They will be on-site at our office in Desloge, MO, from 11:00 a.m. to 1:00 p.m. or until the truck is full! 😊 We look forward to seeing you there!

It was a fun day for community events!

✅ Table decorating for Desloge Chamber Awards Dinner (of course, mine was dog-themed) 🐕
✅ CASA of the Parkland house Ribbon Cutting
✅ Desloge Chamber Awards Dinner to recognize our local community champions

Feeling thankful for those who make the world go-round today. So many people do SO much (and volunteer their time) to make our little piece of that world a better place! Remember to show your appreciation when you can! 🌍❤️

FRIENDLY REMINDER (bc IRS letters are not very friendly😉)

Estimated taxes are due by the 15th of this month! ⏰

Last week, I traveled to Nashville for my first financial advisory conference of the year with Cambridge, called RPM (Real Practice Management). This event focused on the advisor side - creating strong business plans, understanding client base, etc. It was a great experience!

Following the conference, we explored Franklin and Leiper’s Fork, TN. Leiper’s Fork is an adorable little town surrounded by acres and acres of beautiful horse farms. 😍 Highly recommend a visit there if you’re in the Nashville area!

Here ya go, small business owner friends! 😀

Whose ready for a vacation?!

Kidding... Kind of😉

Year end can be so stressful and overwhelming. You have to have your books up to date to issue 1099's, employee files correct for W2's, and your books reconciled and ready to submit to your tax pro. Whew.. 💨

After talking to a few small businesses DIY'ing their books, I decided to put together this checklist to help them along the way and simplify year end.

I think it is only fair to share it with any other small business owner that is burnt out after this month! Don't let 2024 year end beat you up!

Comment "Me" below and I'll send this checklist directly to your inbox!

I truly believe that the majority of us get caught in the first "action" of making money and stay stuck there... Put in the hours, collect a paycheck, pay bills - and then do it again tomorrow.

BUT... it has been said that personal finance is 80% behavior and 20% knowledge. So how do you shift from doing the same action every day to creating new behaviors and habits that help you to keep and grow your money?

Start by committing to ONE new positive money habit. Ideas:
- Choose a small amount weekly or monthly to "pay yourself first" in a high-yield savings account (check out the rates!)
- Set a monthly budget date with a significant other to review finances together
- Commit to paying $50.00 extra on your smallest debt each month

A small success will give you mental and emotional momentum for larger things down the road (major debt pay-offs, 3-6 months of emergency savings, learning more about investments, etc.). 👊

I have met with some SUPERWOMEN 💪🏻 over the last several months who are single or recently divorced and let me tell ya - having their own IRAs, a feeling of control over their workplace retirement plan (if they have one), and an understanding of their current financial picture - is a game-changer as they navigate into their future.

The picture perfect relationship with a partner is always sunny until it’s not, and then it’s every man (er… woman) for herself.

Not sure where you stand financially on your own or with your significant other? Let’s talk! 📞

Saw this infographic from the Empower Financial Happiness Study and I was a bit surprised by the top items that make people financially happy:

1️⃣ Paying their bills… I know people love to pay their bills (🤪) but I did not expect that to be a top contributor to happiness… I believe it closely corresponds to 3️⃣ which is enjoying comforts (electric, groceries, AND the occasional iced coffee etc.) without worry.
2️⃣ STAYING debt-free (y’all must be doing the work getting out of debt!)
4️⃣ Paying for friends and family… we are giving beings whether we like to think so or not! Making others happy makes us happy too! ❤️

Anything surprise you from this list?

Client meetings in the beautiful Arcadia Valley today so I made a pit stop at AV Coffee Company for some local brew. ☕️

How old were you when you started drinking coffee? 🤔

I didn’t touch the stuff until I was 33 and now I usually have a cup a day. I feel like coffee gets a bad rap these days in the budget world…

What’s your opinion: Is a $7 coffee a day too much or not a budget breaker?

Do not work your butt off this year and end up with nothing! Life is too short!

If you haven't taken the time to sit down with a trusted financial advisor, 2024 is your year. So what can we do for you?

🤩Financial Planning: Assess your current financial situation, goals, risk tolerance and timeline; provide advice that considers major items in your life such as birth/adoptions, large purchases, life events, career changes, etc.

💲Investment Management: Review employer and individual investment accounts to tailor a portfolio strategy to your objectives

👩‍👧‍👧Estate Planning: Discuss estate planning options and assist in helping you to set up a strategy that will manage and distribute assets according to your wishes

✍️Tax Planning: Provide guidance on tax-efficient ways to minimize tax liabilities

💻Risk Management: Insurance advice and protection strategies

📙Education Planning: Help you to build a legacy for your children and their possible future education needs

I'd love an opportunity to learn more about you and your family and how we can work together to create a financial plan that gives you peace of mind in 2024 and beyond! - Ashley ❤

Whether you are planning to relax on the couch or go out on the town, I hope you enjoy the last evening of 2023! Wishing all of my family, friends, and clients a joyful and prosperous 2024! 🥂

For my small business owner friends:

Did you know 💡

The 3 most common goals for any small business are:
Financial stability and profitability📈
Customer acquisition and retention🤍
Operations efficiency and productivity📊

Hiring a bookkeeper can help you hit all 3 goals; here’s how:
Up to date financials make reviewing profitability easy on a job, customer, or even class basis. In fact, your bookkeeper should be able to share your profitability and make suggestions on how to improve whether it be cutting unnecessary expenses, increasing your pricing to better compete with industry average, or something else.
If you are using a software like QBO, your bookkeeper should be able to share with you a customer list. You can use this list to request testimonials/reviews on current customers. You could also review the list and reach out to anyone that is no longer a current customer and gauge their interest on resuming your services.
If you are using a time tracking system, your bookkeeper should be able to review and provide insight on tasks that are bottlenecking your systems. Maybe you spend 10 hours per week on social media content and you could be spending that on client work instead. In this situation, it may be a better idea to hire a professional to take that task off your plate so you can focus on increasing your client list.
If you are looking for a bookkeeper to help grow your business, I’m just a message away. ✨

Wishing you all a wonderful holiday season! ❤️

In Jackson today for client meetings in the morning + enrolling new employee participants in a small business retirement plan this afternoon. Had to make a pit stop for some CFA grilled nuggies in-between. 😅

I love when my clients are MOTIVATED… 😃💪🏻 I leave those meetings refreshed, excited for THEIR future and wanting to re-evaluate my own finances to ensure sure I’m consistently following the advice I’m providing! Now I’m going to sit in my car and go over my budget before my next appointment. 🤣✅

It is Giving Tuesday! There are MANY reasons and ways to give charitably. As a financial professional, I could discuss the financial benefits (i.e. tax deductions) but possible tax savings is only ONE reason that being charitable is an amazing thing!

💙 You can include your family and children, who learn the importance of serving others.
❤ You benefit organizations in your community that help families in need.
💙 It is scientifically proven to boost your mood!

From ClevelandClinic.org: "Giving can stimulate your brain’s mesolimbic pathway, or reward center, while releasing endorphins. That can lead to a “helper’s high” that boosts self-esteem, elevates happiness and combats feelings of depression."

What are some of your favorite organizations to donate or provide service time to?

A few of mine are:
- DonorsChoose.org (benefits LOCAL teachers/classrooms in your community)
- CASA of the Parkland (benefits LOCAL foster children and their advocates)
- SEMO Family Violence Council (provides for survivors of domestic violence)

I challenge you today to support (with donations, funding, or time) your favorite local charitable organization! ❤

Just sat in on a great webinar about 529 college savings plans! I highlighted some of the key points below, but here are some additional takeaways from the call:

📕 You can contribute up to $17,000 ($34,000 married filing jointly) under the annual gift tax exclusion to a 529 plan
📘 In Missouri, the state tax deduction is up to $8,000 per person ($16,000 if MFJ)
📙 Qualified distributions include the items listed below (+ a few more); Non-qualified distributions are subject to income tax and a 10% penalty (penalty only applies to earnings and not contributions)
📗 There are really no timing requirements on distributions; you can take the funds back out when needed
📕 Items that are NOT qualified expenses include: travel costs to/from campus, extracurricular activity expenses, sorority/fraternity expenses, health insurance costs
📘 Beneficiaries & Account Owners: beneficiaries are generally the recipients of the funds; they must be U.S. individuals and they do not have power to control the investments or to compel distributions - account owners can initiate distributions, make investment decisions, change beneficiaries and change owners
📙 Beneficiaries can be changed to eligible family members unlimited times (*there may be caveats to this)
📕 Missouri is a tax parity state, meaning that you can deduct contributions made to out-of-state 529 plans as well

Have questions or want to learn more? I'm a phone call away at (573) 561-4289 or send an e-mail to [email protected]!

We are in the last quarter of 2023 and year-end will sneak up quickly. Here are some financial planning items to consider for October through December:

✅ BUDGETING:
Spending areas that see significant increases in the next two months are meals/grocery, gifting and travel.

(*) Meals/grocery: Instead of planning the entire 🦃spread on your own, make it a potluck.

(*) Gifting: You don't owe anyone anything. If you are on a budget, suggest a name draw for gifts or a game instead of buying for everyone. Tell the fam you're on a budget, they should understand. If they don't, change families! 😃

(*) Travel: Plan ahead as much as you can. Fuel is high right now, consider "meeting in the middle" when possible and pack food/drinks for the road.

✅ ESTATE PLANNING:
This applies all year, but PLEASE update your beneficiaries on your Payable on Death (POD) bank accounts, retirement accounts, etc. Having your affairs in order before the holidays hit will provide comfort if the unfortunate would happen!

✅ TAXES:
If you had a side hustle this year or if you are a small business owner, it is a good time to think about the upcoming tax year - do you need to reconcile income/expenses and/or talk to your tax professional or financial advisor about tax strategies before the end of 2023?

✅ EMPLOYEE BENEFITS:
Should you increase your retirement plan contribution by a percentage? Do you need to choose your health benefits for the next plan year? Do you need to spend any funds in FSAs?

What else do you financially plan for at year-end?

“Love has no credit score.” -Izzy, Love is Blind

I CACKLED when I heard this. 🤣

On a scale of 1-10 (10 being HIGHLY IMPORTANT) how important would a credit score be to you when committing to a marriage with someone?

Life insurance can be very comforting to families in very difficult times. There are all kinds of posts in my newsfeed right now about it.… 😬 Be sure to do your due diligence when choosing a policy for you and/or your family! If you are unsure about information you have received, please speak with a trusted professional. If you already have a policy in place and have questions about policy provisions and terms, please speak with a trusted professional.

Choosing a policy that is not suited to your needs could be very costly.

A financial professional with your best interests at heart will consider all facets of your financial life when helping you to determine the best option for you!