By David Stanley Integrity Financial Services, LLC
Hurricanes to the weather can impact the U.S. economy. (pxhere.com)
Hurricane Ida, COVID- 19 and a February winter weather disaster in the United States and Mexico; many other catastrophes and worries abound. What issues currently confront the U.S. economy? The answer is multi-level but can be summed up as:
1) The collapse of an economy (potential)
2) Inflation
Are your important retirement dollars safe? If you have a fixed/indexed annuity, your money is still protected. Think of the simplicity the annuity brings to life. No fees, no loads, no market risk. It is not stocks, bonds, or mutual funds, which rely on fluctuating investment trends. It’s dependable fixed/indexed annuities that will fund Baby Boomer retirement.
Safety is not an issue with fixed annuities. The insurance company doesn’t borrow money to make risky or speculative investments. What keeps annuities safe? Think of it this way. Are you worried about your homeowners, auto insurance, life insurance company going under? No. Remember, annuities are not speculative investments, but deposit accounts backed up by cash on hand.
The insurance industry was “the last man standing” during the Great Depression when banks and investment firms failed. Then as now, this sector remains the last bastion of financial freedom. The fixed annuity company already has its portfolio to back these contractual guarantees.
Annuities provide a level of economic security that cannot be duplicated by other investments like stocks, bonds, CDs, etc. Annuities relieve the consumer of the need to set aside additional money to offset potential risk and fees for managing the account.
If fear of managing your retirement accounts paralyzes you and causes you stress, simply pass it to a risk bearer, an insurance company. Let the annuity provide you with a safe and secure income.
Dave Stanley is the host of Safe Money Radio WOOD1300 AM, 106.9 FM and a Financial Advisor and Writer at Integrity Financial Service, LLC, Grandville, MI 49418, Telephone 616-719-1979 or Register for Dave’s FREE Newsletter at 888-998-3463 or click this link: Dave Stanley Newsletter – Annuity.comDave is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management.
Graphic from City of Kentwood promotional material.
By WKTV Staff
The City of Kentwood and Georgetown Seniors are inviting community members to have lunch and celebrate successful aging by connecting with resources from as many as 50 vendors, as well as free health screenings, at the 23rd annual Spotlight on Seniors Expo on Tuesday, April 19.
The free indoor event will take place from 8:30 a.m. to noon at the Kentwood Activities Center, 355 48th St. SE. For more information visit kentwood.us/events. Vendor space is still available. For more information, contact Ann Przybysz at 616-656-5284 or przybysza@kentwood.us.
The vendors will include a variety of senior-oriented businesses, the free health screenings will include blood pressure, posture, grip strength and mental health, and there will be door prizes as well as free snacks and lunch.
“The Spotlight on Seniors Expo is a meaningful way for seniors and other community members to come together in celebration of successful aging and to learn about local resources that support healthy lifestyles,” Kentwood Recreation Program Coordinator Ann Przybysz aid in supplied material. “Our partnership with Georgetown Seniors and our event sponsors is key to the long-term success of this community favorite.”
Participating vendors include professionals knowledgeable in everything from physical therapy and assisted living to home improvement and health care.
“Staying active, healthy and connected is paramount to our senior neighbors,” Pam Haverdink, director of the Georgetown Senior Center, said in supplied material. “We are pleased to partner with Kentwood Seniors and we are grateful to the vendors who help make it happen.”
Lillian Vander Veen has been a business leader in the City of Wyoming for several years. She is the owner of Lenger Travel. (Supplied)
For Lillian Vander Veen, her career in the travel business started with a trip to Hawaii.
“It was our 25th anniversary and it was something that we really wanted to do,” Vander Veen said, adding that before the trip she had quit a job working at Northern Air, which had been located at the then Kent County Airport (which later became the Gerald R. Ford International Airport.)
It was on that trip that she would meet Sid and Bertha Lenger, a couple well-known for their travel tours and owner of Lenger Travel.
Sometime after that trip – which Vander Veen noted was wonderful – Sid Lenger approached her with an offer, would she be interested in working for the travel agency?
“I was surprised but Sid kept saying he knew of my previous work experience and thought it would be a good fit,” she said, adding she had worked for two different companies at the airport and was familiar with airline travel.
It not only was a good fit, but an opportunity to see the world, Vander Veen said, adding she has been able to visit Hawaii, Alaska, and Florida several times along with seeing parts of Europe.
“Lenger Travel was the first to book a DC 10 and a [Boeing] 747 for tour groups,” Vander Veen said.
Vander Veen would help to open an office at the now defunct Grand Village Mall that was located on Fairlanes Avenue in Grandville.
Lillian Vander Veen
The agency, which at one time had several offices in the Greater Grand Rapids area, went through some rough patches. The Lengers eventually retired from the business selling it to another couple who Vander Veen would purchased the businesses from.
“It was through John VanSingel that I was able to bring the agency to Byron Center,” Vander Veen said, adding that VanSingel offered her a spot in the bank he was operating. She eventually moved Lenger Travel to its current location at 2551 84th St. SW.
“You don’t get into the travel business to become rich,” Vander Veen said. “You do it because you love to travel. I think that for that reason it makes it more of a women’s field. It is often women who are planning the vacations.”
That isn’t to say that Vander Veen didn’t have challenges as a working woman in the 50s and 60s.
“The issue I had was not because I was a woman,” Vander Veen said. “Rather it was when I was living in Georgia at the time with my family. I was working for a company and I had befriended an African-American woman and it really bothered me that we couldn’t do anything together outside of work.
“We could only be friends at the office. It was 1953.”
Vander Veen still owns Lenger Travel and mostly oversees the books. Through the years, she has seen a lot of changes in the travel industry, but one thing remains constant: people like to travel. Lenger Travel has changed with the times, now offering assistance with destination travel to such places as Disney World and cruise ship adventures.
While Vander Veen is not in the office very much, she is active in the community she loves, the City of Wyoming, and attends many of the Wyoming Kentwood Area Chamber of Commerce events, including volunteering for Metro Cruise.
Susanne Ramljak, Frederik Meijer Gardens & Sculpture Park Chief Curator. (Supplied)
By WKTV Staff
Frederik Meijer Gardens & Sculpture Park has appointed a new Chief Curator: Suzanne Ramljak, “a seasoned curator and art historian,” and a graduate of University of Michigan who has worked at the Solomon R. Guggenheim Museum, the institution announced Tuesday, March 29.
Ramljak, who started work March 28, will oversee Meijer Gardens’ expanding exhibition programing and acquisitions for the permanent collection. She joins an art team at the Gardens which includes Laurene Grunwald, Director of Sculpture, Art Collections, Exhibitions. Jochen Wierich, Assistant Curator and Researcher, has resigned his position as of the end of April, according to Meijer Gardens.
“In this newly created position, she (Ramljak) will lead our efforts to acquire and site sculpture and to curate engaging sculpture exhibitions,” David Hooker, Meijer Gardens President & CEO, said in supplied material. “Ramljak is ideally suited to help us realize Fred Meijer’s desire to create a world-class sculpture program. In addition, in this role she will serve as an officer of the institution.”
Ramljak comes to Meijer Gardens from the American Federation of Arts in New York City, where as curator for 10 years she organized numerous traveling museum exhibitions. Her own exhibition projects have centered on modern and contemporary sculpture, including “Natural Wonders: The Sublime in Contemporary Art”, “Case Studies: Art in a Valise” and the forthcoming “Mark Dion and Alexis Rockman: Journey to Nature’s Underworld.”
Ramljak has also worked in the curatorial departments of the Guggenheim, as well as the Detroit Institute of Arts and University of Michigan Museum of Art.
“I am delighted to join the outstanding team at Frederik Meijer Gardens & Sculpture Park to advance the mission of inspiring appreciation of sculpture and the natural environment,” Ramljak said in supplied material. “It is my fortune to be arriving during a time of impressive growth at Meijer Gardens and at a moment in our culture when the bracing forces of art and nature are more essential than ever.”
Meijer Gardens recently underwent a major $115 million expansion project that adds new major architectural features and renovations to current facilities.
A Michigan native, Ramljak earned a Bachelor of Arts and Master of Arts in art history from the University of Michigan, Ann Arbor, where she also served as arts writer for the Ann Arbor News, according to the Meijer Gardens announcement. Ramljak pursued doctoral work and earned a Master of Philosophy in art history from the Graduate School, City University of New York, with dissertation research on the Venus de Milo in 20th-century art.
Along with her broad curatorial background, Ramljak has extensive publishing and writing experience. She was editor of Sculpture magazine for five years and held the editorship of Glass Quarterly and Metalsmith magazines. Ramljak has published widely on contemporary art.
Her writing on sculpture includes monographic essays on artists Louise Bourgeois, Michele Oka Doner, John Grade and Beverly Penn, among others. She has authored several books including “On Body and Soul: Contemporary Armor to Amulets” and, most recently, “Loaded: Guns in Contemporary Art”.
In honor of Dr. Seuss’ birthday, March has been designated as Reading Month. To celebrate and encourage reading, we are asking local officials, residents and WKTV staff and volunteers to tell us about a book that they enjoy. Happy Reading!
Today’s book selection is from TJ Norris. Norris is a financial controller for an international manufacturing company. She is also a serial volunteer for non-profit boards and organizations and loves seeing teams work together to accomplish amazing goals.
Book: Leaders Eat Last Author: Simon Sinek Genre: Business/self-help
In this era of “The Great Resignation,” retaining employees can make or break a company. Sinek’s book, though originally written in 2014, is as timely today as it was then. Filled with wonderful examples of what has worked for various companies, it’s not only a book about keeping your best employees, but it is also about keeping them happy, motivated and loyal. But read a little deeper. Substitute “company” for family, church group, or civic organization, and let the “aha! moments” kick in. This book is consistently on lists of the 10 best business books and, as the author himself states, “Leaps of greatness require the combined problem-solving ability of people who trust each other.”
Take the leap into making your team better, stronger, happier.
“Risk can be a hard concept to calculate, remember, it is not a calculated risk if you haven’t calculated it.” – Dave Stanley
Photo from Pxhere.com
In the 2009-2010 NFC Championship Game, the Minnesota Vikings and the New Orleans Saints were tied 28-28 late in the fourth quarter, with the Vikings close to field goal range. Vikings quarterback Brett Favre took the snap, rolled to his right, and saw about 30 yards of open field in front of him. Even though he had injured his leg in the third quarter, all Favre had to do was lurch forward for 10 yards, fall down, and have a first-and-10 inside field goal range.
Instead, Favre reverted to what has made him a legendary hero (and sometimes a goat) many times in his Hall of Fame career. He planted his foot and threw cross-field where Tracy Porter intercepted him at the 22-yard line. At that moment, Minnesota’s fine season, Favre’s great comeback, and Vikings fans’ hope for a Super Bowl were thrown away. The Saints ran out the clock and kicked a field goal on the first possession of overtime.
What happened? In a pressure situation, with everything on the line, instead of making the high percentage play, a superstar did what felt familiar and comfortable – not what was safe.
You see the analogy coming. Quarterbacking a football team and managing your retirement portfolio are wildly different activities. It is doubtful that we will ever achieve a “Brett Favre” status within your success. Yet, a failure on our part to “read the field” could be more devastating to a family than the shock and disappointment felt by the players, coaches, and fans after that heart-breaking loss.
It is common for us as individuals to be the “quarterback.” If that’s the picture we are projecting, who is the head coach and team owner? Making all of the decisions in your planning can be very difficult, but help is often needed.
We have moments when we cannot handle any more risk (take the first down!). We know we do not want to lose another dime (just get me into a good field position!). It does not make any difference if you are convinced you can choose the stocks, funds, IPO’s, REITs, or whatever will right their portfolio and make you look like a hero. Most of us may not be ready to take that step with you.
During that game, there were millions of people watching. Some of those people were former NFL players. Some were Hall of Famers. Some were even Hall of Fame quarterbacks. But, when Favre planted his foot, there was no one on the planet more comfortable than he was. A lifetime of training, conditioning, practice, big games – even Super Bowls, had prepared him for that throw. It was the most comfortable thing in the world until Tracy Porter.
We may have the knowledge and experience but being all things in all situations just isn’t possible any longer. We all need a “Coach” to make sure we call the correct play. The disappointment over a lost opportunity while “going for field position” will be nothing compared to the fury if you try to “force a throw” they did not want you to make in the first place.
In plain English, we should never be comfortable with risk unless we know and understand all your options.
Dave Stanley is the host of Safe Money Radio WOOD1300 AM, 106.9 FM and a Financial Advisor and Writer at Integrity Financial Service, LLC, Grandville, MI 49418, Telephone 616-719-1979 or Register for Dave’s FREE Newsletter at 888-998-3463 or click this link: Dave Stanley Newsletter – Annuity.comDave is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management.
The Grand Valley Metro Council is looking at access to the Gerald R. Ford International Airport. (Supplied)
How much does having busing services impact you when heading to the Gerald R. Ford International Airport? Do you find it easy to be dropped off at the airport? What improvements would you suggest for access to the Ford Airport?
These are just some of the questions residents and stakeholders are being asked to on an Airport Access Study survey hosted by the Grand Valley Metro Council and the Gerald R. Ford International Airport.
The project is in conjunction with the Michigan Department of Transportation, Kent Conty Road Commission, City of Kentwood, Cascade Township, and engineering firm AECOM. The study is designed to investigate ways to improve access to the airport as well as the surrounding local road and freeway systems. Rapids growth and develop at the airport, and in the Greater Grand Rapids Area, makes now an import time to consider how best to provide access in the airport area into the future, according to organizers of the study.
“While labeled ‘Airport Access,’ this study focuses on transportation through a broader lens, looking at what modes of transportation are needed, how people get to and from the airport and its surrounding area, and how it can be improved upon,” said Laurel Joseph, GVMC Director of Transportation Planning. “Dating back to efforts made in the 80s and 90s, we recognize the far-reaching impacts this project will have.”
The study will examine current transportation needs and changing travel patterns including airport passenger and cargo traffic, road connections and access, traffic operations and safety, bike and pedestrian circulation, transit service, railroad connections, airport security, and terminal access redundancy. The study also will evaluate different airport access alternatives, leading to a recommended alternative (or alternatives) and an accompanying implementation and action plan.
The start of this project will be the survey which will ask residents and stakeholders to consider the type of travel they did before the pandemic, how frequently they visited the airport, what modes of transportation they took, and the ease of access to the airport. Participants will be asked if shuttles, biking, walking or parking impact access to the airport. Participants also will have an opportunity to identify airport access areas they feel need improvement. Filling out the survey takes about five to 10 minutes.
“Out communities continue to grow and change, attracting national talent in various industries,” Joseph said. “ Our airport and its connecting transportation system need to not only meet our current needs but also projected growth. The goal is to find ways to improve the accessibility, functionality, safety, and efficiency of the transportation network for years to come. we cannot do that without the essential input of those traveling to, from, and through the area today.”
Joseph said the goal is to collect as much community input as possible. To help with that, survey participants many enter into a $50 gift card drawing. There will be two winners. The survey will be open until the end of April.
For more information about the project, click here. To take the survey, click here. (Survey is available in both English and Spanish.)
In honor of Dr. Seuss’ birthday, March has been designated as Reading Month. To celebrate and encourage reading, we are asking local officials, residents and WKTV staff and volunteers to tell us about a book that they enjoy. Happy Reading!
Today’s book selection comes from Nancy Jacobs, co-owner of the Apple Spice Box Lunch Delivery and Catering Co. Apple Spice is located at 701 68th St. SW and offers a variety of box lunches and catering services.
Book: Taste for Truth: A 30-Day Weight Lost Bible Study Author: Barb Raveling Genre: Self-help, Christian
I really love the message behind the book about how to lose weight you have to be in the right place. The book is designed to help readers face the lies that make people eat and focus on the truth that will help them be free of the control food has on them.
A spring bunny will be available for photos and visits at Woodland Mall starting this weekend. (Supplied)
By WKTV Staff
Photos with Santa are always a winter holiday family treat at Woodland Mall, and now a spring fling in the same vein is returning as starting March 26 photos with a big, fun “Springtime” bunny will be available through April 16.
And that is not all of the local family springtime events as the Mad Hatter Tea Party is set to return on Saturday, April 9.
“Seasonal family portraits are a beautiful way to capture memories of your loved ones,” Alyson Presser, marketing manager for Woodland Mall, said in supplied material. “You can either pose with the bunny or choose a spring-themed portrait area for a seasonal photo with your family, friends and pets.”
Pets can have their photo taken with a springtime bunny at Woodland Mall. (Supplied)
Bunny and family photos will be available in the Macy’s Court from noon to 7 p.m., Mondays through Thursdays; 11 a.m. to 8 p.m., Fridays and Saturdays; and noon to 6 p.m., Sundays. (For the last weekend before Easter Sunday, there will be extended hours of 10 a.m. to 8 p.m. on Friday, April 15, and Saturday, April 16.
Pets can join in for photos noon-7 p.m. every Monday. Feathered and whiskered pets of all kinds are welcome as long as they are kept on a leash or in a carrier at all times. (Owners must also sign a release.)
Reservations are encouraged and can be made online. Walk-up visits are permitted when space is available.
And that Mad Hatter Tea Party
On April 9 guests are invited to attend the Mad Hatter Tea Party from 10 a.m. to noon. The Alice in Wonderland-themed event will include special appearances by the Mad Hatter himself, as well as Alice and the Red Queen. There will also be spring-themed crafts, snacks and games.
The event is free and open to the public. Those who attend the tea party are encouraged to reserve their bunny photos the day of to win a $10 gift card to The Children’s Place, a children’s specialty apparel retailer.
“Our Mad Hatter Tea Party makes celebrating the arrival of spring and taking photos with the bunny all the more magical,” Presser said. “We welcome everyone to enjoy this fun and interactive take on a Lewis Carroll classic story with activities that bring out the child in all of us.”
Mall hours are 11 a.m. to 8 p.m., Monday through Thursday; 10 a.m. to 9 p.m., Friday and Saturday; and noon to 6 p.m. Sunday. For more information visit shopwoodlandmall.com.
Three years ago, Kristin Ruther found her niche at RE/MAX of Grand Rapids. (Supplied)
By Sheila McGrath WKTV Contributing Writer
Kristin Ruther has a word of advice for women who feel like they’ve somehow landed in the wrong job.
“You’re not a tree,” she said. “You’re not planted. You can move.”
Kristin Ruther and her husband John were college sweethearts, marring while Kristin was still in college. (Supplied)
Over the course of her working life, Ruther has found success in a variety of jobs that made use of her business development skills and her love of bringing people together.
These days, she’s a Realtor who leads the Ruther Daigle Team at RE/MAX of Grand Rapids. She has worked in real estate for the past six years, and as one of the top-selling agents in the area last year, became a member of RE/MAX’s Platinum Club.
But not every job she took over the years turned out to be a good fit. And when it wasn’t, she found a way to move on.
Ruther and her husband, John, got married while she was still in college. Their first child arrived before she graduated, so finishing college and starting a career were temporarily put on hold. Their family grew to include two more children, and she loved staying home with them when they were small.
After going back to school and finishing her degree in 2005, she took a job as a recruiter in Downers Grove, Illinois, with hopes of eventually becoming a human resources generalist.
But the hours were long – she left home at 6 a.m. and couldn’t leave the office until her boss left after 6 p.m. When the opportunity arose to join an architectural firm that specialized in building churches, she jumped at the chance.
“It was really fun to be able to think about architecture and design because that’s what I really enjoy,” she said.
When she joined the group in 2008, the firm’s average project size was $750,000. By the time she left six years later, she was director of strategic partnerships and the average project size had grown to $3 million.
But Ruther and her husband had decided to return to Michigan to be closer to family, and she was once again pondering her next career move. After thinking for a while about becoming a real estate agent, she began taking classes and got her license.
The kickoff to her new career didn’t go quite as planned, though – at her first job, a male colleague introduced her to the rest of her new team by saying “This is my girlfriend.”
“I’m nobody’s girlfriend,” she told him afterward. “It’s not a joke.”
Despite her objections, his behavior continued. So she got out and joined a different brokerage.
“There are so many places where you can feel empowered and strong, and that’s where you need to be,” she said. “I think it’s almost every woman’s experience: of pushing back and saying ‘That doesn’t feel right, I need to move away from that.’”
Three years ago, she joined RE/MAX of Grand Rapids after falling in love with their sleek, contemporary office space on Byron Center Avenue in Wyoming. She describes the office as a “big learning community” where there are always classes going on to help them grow as Realtors.
“There’s always something that you’re learning that they’re pouring into you,” she said. “There’s always something to learn about houses and what makes a good house for somebody, or what some of the red flags are.”
She loves the design aspect of staging houses and helping her clients get top dollar for their properties. And she’s honored by the trust they put in her.
Kristin Ruther and her husband John with their family. (Supplied)
“As agents, we are trusted,” she said. ‘You’re giving me the keys to your house. You’re trusting me with some very big financial things. So there’s a level of integrity you have to have.”
The team Ruther leads now includes her daughter, Lauren Daigle, who does all of her marketing and photography, and her son-in-law, Aaron Daigle, who joined the team as a Realtor.
Ruther said education has been a big part of her success.
“Education is the key. Every time you take a class you gain a little more confidence and a little more competence, and I think all of that really piles up.”
But she said for her, it was also really helpful to have a coach –someone who always has your back.
“There’s always something for you to learn from somebody who has been there, done that,” she said.
Those seeking the wavier can use the Kentwood’s 62-B court’s touch-screen kiosk for a contract-fee experience or talk to one of the clerks. (Supplied)
Kentwood’s 62-B District Court has jointed with Grand Raps’ 61st District Court and the 63rd District Court to offer a waiver program for individuals to comply with court orders by settling their debts without further penalty or incarceration.
Specifically, the program addresses outstanding warrants for non-compliance with a court order of fines, fees, court costs and any outstanding traffic or parking tickets that have gone into default or suspension. The waiver program will be effective April 1 – 30.
“This is an opportunity for people to settle past due fines with the court without penalty,” said 63rd District Court Chief Judge Jeffrey J. O’Hara. “Qualified applicants will be given fee waivers and have the ability to set up payment plans to resolve matters without the worry of additional penalties or incarceration. We all know the last two years have impacted people in many ways and as a court, we are pleased to offer this to the community during the month of April.”
62-B District Court Judge Amanda Sterkenburg. (Supplied)
“The 62-B District Court is pleased to be a part of this collaborating effort,” stated Judge Amanda Sterkenburg. “Individuals seeking to make payment can use our new lobby kiosk for a contact-free experience or speak with a clerk in person during business hours.”
The 61st, 62-B, and 63rd District Courts guarantee that those who pay in full will not be jailed because of the late payment. If the account is paid in full, the courts will waive all court-imposed late fees or warrant fees except for the $45 License Suspension Reinstatement Fees.
If an individual is unable to pay in full, but makes a significant payment, the courts will work with the individual to set-up a new payment plan regarding any outstanding balance and will not sentence them to jail for the inability to pay in full. Any existing driver’s license suspension will not be lifted until the account is paid in full. Payments must be made by contacting the 61st at 616-632-5525, 62-B at 616-698- 9310, or 63rd District Court at 616-632-7770 for further information.
“Planning to retire? Be sure you have your exit plan in place and remember, when you retire, you never have a day off.” Dave Stanley
Retirement is not likely to look anything like your parents’ retirement. The economic impact of government actions related to the pandemic, inflation caused by loose monetary policy, and stock market volatility have created craters in even the best-laid retirement plans. Many Americans are considering taking the money and running, opting for early retirement.
Joel along-haul trucker, says he was initially going to wait another five years before retiring. “Dealing with a lack of parts for my trucks because of supply-chain problems, frustrating and time-consuming regulatory changes, and inflation have made my life challenging. I’m retiring now instead of later,” he explained.
Retiring early is a decision many Americans have already made, mainly because their workplaces reduced or eliminated staff. Some workers were offered attractive incentives for taking early retirement by companies feeling the pinch of COVID lockdowns.
Regardless of whether your retirement plans look solid, it’s still a great time to review your portfolio’s balance and think about for how long you want to continue working. Fortunately, the basics of creating a secure retirement remain the same, except for perhaps a few additional COVID-related caveats. Here are a few things to consider:
Don’t count on working forever. Until COVID- working until you dropped seemed like a viable plan. However, results from a 2021 study by the Employee Benefits Research Institute (EBRI) confirm previous findings that indicate nearly 50% of all retirees left the workforce before the original target retirement date. This reality means that people in their 50’s and 60’s should have emergency plans solidly in place.
Reduce or eliminate as much debt as you can. It’s common sense to make debt reduction a priority. You don’t want to take a credit card balance, car payment, or student loan with you when you retire, especially when retiring in an unpredictable economy.
Have a health insurance strategy in place. If you find yourself retired before you are eligible for Medicare, you may have to find an affordable policy for those “gap years.” Even if you do get Medicare, you’ll need to plan for things like co-pays and uncovered expenses. One thing to consider is a health savings account, or HSA, which can help you grow a pot of emergency cash you can use when you retire. Ask your financial advisor to explain the many benefits of HSA plans and help you determine if starting one will work for you.
Finally, no matter what you decide about retiring, meet with a qualified retirement income planner. Ultimately, deciding when to retire may or may not be up to you. However, if you are thinking about leaving the workforce, you should sit down with your advisor and discuss every potential pitfall and how to avoid them.
Your advisor will suggest more strategies and recommend the right products to help you avoid running out of money when you stop working.
Dave Stanley is the host of Safe Money Radio WOOD1300 AM, 106.9 FM and a Financial Advisor and Writer at Integrity Financial Service, LLC, Grandville, MI 49418, Telephone 616-719-1979 or Register for Dave’s FREE Newsletter at 888-998-3463 or click this link: Dave Stanley Newsletter – Annuity.comDave is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management.
In honor of Dr. Seuss’ birthday, March has been designated as Reading Month. To celebrate and encourage reading, we are asking local officials, residents and WKTV staff and volunteers to tell us about a book that they enjoy. Happy Reading!
Today’s reading selection comes from Rosalie Kaser, who has been the co-owner of Kilwins in Gaslight Village for the past five years and an East Grand Rapids resident since 2000. Founded in 1947 in Petoskey, Mich., Kilwins is known for its chocolates, fudge, and ice cream. Today there are more than 140 Kilwins franchises in 25 states. To learn more, visit www.kilwins.com.
Book: The Phantom Tollbooth Author: Norton Juster Genre: Fantasy/children’s literature
“The Phantom Tollbooth” is a wonderful play on words that make you laugh at the main character’s, Milo, adventures and makes you think about the words we use.
YMCA lifeguarding training, and work, is for all ages. (Supplied/YMCA of Greater Grand Rapids)
YMCA lifeguarding training, and work, is for all ages. (Supplied/YMCA of Greater Grand Rapids)
YMCA lifeguarding training, and work, is for all ages. (Supplied/YMCA of Greater Grand Rapids)
By WKTV Staff
With many employment opportunities across the city and region, the YMCA of Greater Grand Rapids invites current and “future” lifeguards to join their team and launch a fulfilling career, according to a recent announcement.
And while most lifeguards are high school and college students, the ranks are also made up of professionals, retirees and stay-at-home parents.
Maybe the Y’s greatest lifeguarding success story is YMCA of Greater Grand Rapids CEO Scott Lewis. Lewis began his tenure at the YMCA as a lifeguard at a New Jersey YMCA in 1986 where the organization “invested in his leadership potential,” according to the announcement.
“The role of lifeguard is one that can launch a great career, and I know from experience,” Lewis said in supplied material. “Providing a safe and exceptional experience, working with a diverse customer base, problem solving, and having an exceptional attention to detail are all skills that serve professionals long term.”
YMCA lifeguard training at an outdoor, summertime venue. (Supplied/YMCA of Greater Grand Rapids)
The organization has increased wages, according to the announcement, now offering $14.61 to $16.44 per hour, opened free training opportunities, and “invested in creating year-round, flexible hours for these aquatic leaders to develop life-long professional skills.”
However, maybe the most rewarding work as a YMCA lifeguard is the satisfaction of knowing you actively make an impact in the lives of others, while working with and guarding a group of diverse individuals.
“Becoming a YMCA lifeguard provides you a support network to be successful from the day you decide to pursue the opportunity,” YMCA Human Resources Director Peter Reiff said in supplied material. “What’s more is that at the YMCA you are part of a larger team of leaders and health and wellness service providers that work together to meet the needs of the community year-round, every year.”
Brooklyn, NY-based Roll & Hill is know for its lighting and furniture design. (Photo by Sarah Elliott)With the addition of Alexis Manufacturing, Roll & Hill added furniture to its line in 2020. (Photo by Sarah Elliott)
The Right Place, Inc., in collaboration with the Michigan Economic Development Corporation (MEDC), announced that high-end lighting and furniture company Roll & Hill will be opening a second location in the City of Wyoming at 6192 Valduga Dr. SW. The $1.5 million capital investment will add 50 jobs.
Founded in 2010 by Jason Miller, Roll & Hill is a design-minded furniture and lighting company based in Brooklyn, New York. Each Roll & Hill piece is made one at a time by hand. The company expanded into furniture and in 2020 acquired Alexis Manufacturing, which was founded by father and son Ivan and Norman Alexis in 1946. By combining Alexis’ 75-year history of producing complex wood components and wooden seating with its design sensibility, Roll & Hill has produced, according to experts in the field, a timeless, high-quality collection of furniture. in 1974, Alexis was bought by Hekman Furniture Company and then later acquired by Howard Miller Clock Company.
Looking to enter the furniture mark, Roll&Hill purchased Alexis Manufacturing because by purchasing the company, “we’ll be able to enter the furniture category in a much shorter ramp-up time.” according to Miller, who is the creative director and CEO of Roll & Hill. However, Roll & Hill had to find a location for the company as its former home had been sold. The company worked with The Right Place and City of Wyoming to open its first production facility, located at 5765 Clay Ave. SW., and has steadily increased its presence in the region since the initial expansion.
“As Roll & Hill continues to expand, the City of Wyoming remains an excellent location for our growth,” said Roll & Hill Creative Director and CEO Jason Miller. “Our experience opening our first location in Wyoming was exceptional, and we’re looking forward to establishing our second. We’re thankful to the team at The Right Place and their partners at the City of Wyoming and MEDC for their partnership and collaborative support as we invest in our local production facilities.”
In 2020, Roll & Hill acquired Alexis Manufacturing and entered into the furniture industry. (Photo by Jonathan Allen)
The new location at Valduga Drive will house production of the company’s lighting. The site has visibility from M-6 and east of Burlingame Avenue. The building is under construction with Roll & Hill scheduled to move in June of this year.
The Right Place worked closely with the MEDC to ensure the company continued its growth in the region rather than out-of-state locations. With the approval of a $300,000 Michigan Business Development Program performance-based grant, the MEDC is supporting the expansion through the Michigan Strategic Fund. West Michigan Works! and Grand Rapids Community College will also be supporting the project with a workforce training package.
“We are extremely excited with the announcement of this expansion, which will bring 50 lighting and furniture manufacturing jobs to our City,” said Wyoming Director of Planning and Economic Development Nicole Hofert. “We look forward to the continued investment in the City of Wyoming, our residents and community members.”
“If you are within a couple of years of retirement, you will want to know the answer to this critical question.”- Dave Stanley
Photo from pxhere.com
Here in New Mexico, it isn’t unusual for someone ordering Mexican food to be asked, “Red or green?” In fact, “Red or green?” was adopted as the official state question in 1999. (Did you even know such a state question existed?) Chile is the fiery soul of New Mexican food, and everyone here has their opinion about which chile sauce goes best with which dish.
I like to ask my clients and prospects the same question regarding their retirement savings. “Do you prefer green money or red money?” Red money, I define as that portion of savings a person is willing to expose to market risk. With red money, you accept the possibility of losses, even significant ones. The desire to chase after market gains is perfectly understandable given our current low-interest environment that punishes savers. Nevertheless, risking your life savings in hopes of getting (often mythical) higher returns may not be the ideal decision for those who are within a few years of retiring. That’s because when you choose red money, your wealth is exposed to both upside and downside risk.
On the other hand, green money is the portion of your savings you want to safeguard. Green money is cash used to create income streams that provide you with more safety and peace of mind. Green money is for those who are unwilling to accept even small losses. Instead, green money people add products offering lower rates of return in exchange for low to no market risk. Real green money has no downside risk and only upside potential.
Choosing red or green is not black and white. Despite what you may have heard from your advisor or some TV money guru, neither red money nor green money is inherently bad or good. After all, you are an individual with your own level of risk tolerance and unique money goals. What you need your savings to do when you retire may be very different than what your friend, neighbor, or co-worker needs.
Knowing this, you shouldn’t be asking, “What’s better, red or green money?” but rather, “What percentages of each type should I have in my portfolio to achieve my goals?” “What portion of my cash am I comfortable with exposing to risk?” “What do I ultimately want this money to do for me?” If you’re wanting to move forward slowly and consistently, instead of getting caught in a cycle of two steps forward, three steps back, you’ll need to examine products that can help you accomplish that.
For example, certain types of life insurance and annuities offer you the possibility of creating predictable retirement income with little to no risk exposure. Exploring your safe money options is not only prudent but necessary as we continue to experience market upheavals and a precarious and unpredictable economy.
Summing it up: A successful retirement requires that you know with what percentage of risk you are most comfortable with, how much you can afford to lose during a market downturn, and what you want your wealth to accomplish. How much red or green money you put into your portfolio is a critical decision that every retiree needs to make. A seasoned retirement income planner can assist you in making that decision and ensuring that every one of your dollars does the work of three or four.
Dave Stanley is the host of Safe Money Radio WOOD1300 AM, 106.9 FM and a Financial Advisor and Writer at Integrity Financial Service, LLC, Grandville, MI 49418, Telephone 616-719-1979 or Register for Dave’s FREE Newsletter at 888-998-3463 or click this link: Dave Stanley Newsletter – Annuity.comDave is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management.
This May, City of Wyoming residents have the opportunity to raise more than $6 million for the city while lowering their property taxes through the approval of two proposals.
City residents will head to the polls on May 3 to vote on an income tax of up to 1 percent for residents and up to .5 percent for non-residents. According to the U.S. Census, about 34,400 non-residents work in the City of Wyoming, using the city’s roads and other amenities. With the passage of the income tax, a non-resident earning $60,000 would pay about $232 income tax to the City of Wyoming. City officials estimate that if all non-residents pay the income tax that would be an additional $6 million in revenue for the city.
A second proposal would reduce the city property millage more than half for city residents and business owners. For an individual who earns $60,000 living at a home with a taxable value of $100,000, the combined income tax and reduction of property tax would result in about a $226 in savings. Those savings could be more depending on the number of people living in the home.
Retirees may see substantial savings especially if their income is from social security and pensions which are not subject to income taxes. So a retiree in this situation would receive the property tax reduction which on a house with a taxable value of $100,000 would be a savings of about $690.
According to city officials, the main purpose of the proposals, which are tied together meaning both must past, is to shift the equity so that that non-residents using the city’s roads and services are contributing to the costs.
With the annual $6 million generated from the income tax revenue received from non-residents, the city plans to put $3.3 million toward its fire department to hire 27 additional firefighters; $2.1 million toward its police department for 13 additional police officers and 1 crime analyst; and $600,000 annually toward upgrade of the city’s parks, many of which are 25 years or older.
In honor of Dr. Seuss’ birthday, March has been designated as Reading Month. To celebrate and encourage reading, we are asking local officials, residents and WKTV staff and volunteers to tell us about a book that they enjoy. Happy Reading!
Today’s book selection comes from Katie Nugent owner of Jersey Junction, an ice cream parlor in East Grand Rapids. Started in 1963, Jersey Junction has become not only a popular spot but a famous one as well. We’ll let Katie explain why.
Book: The Polar Express Author: Chris VanAllsburg Genre: Picture book/Christmas story
Jersey Junction was established in 1963 by Doris “Chris” VanAllsburg, the author’s mother. When the movie premiered in Grand Rapids, Chris donated an autographed model of the Polar Express to Jersey Junction that is displayed in its dining room. Another model of the Polar Express can be seen running along the ceiling of the shop. The book is about a young boy who on Christmas Eve is whisked away on the Polar Express to meet Santa Claus.
Jersey Junction, located at 652 Croswell Ave. SE, officially opens for the season today, Friday, March 11. So take a few minutes to celebrate summer with an ice cream and to check out those trains. Hours are 3-9 Monday through Friday, noon-9 p.m. Saturday and Sunday up to Memorial Day and from Labor Day to Oct. 31. From Memorial Day to Labor Day, the hours are 11 a.m. to 10 p.m. Monday-Saturday and noon-10 p.m. Sunday.
Mayor Jack Poll hinted at it in his Feb. 7 State of the City address and today, Franklin Partners LLC made it official: Site 36 has been sold.
Franklin Partners, which is based in Grand Rapids and Oak Brook, Ill, has purchased a large portion of the site, 74 of the approximate 92 acres, from the City of Wyoming. The purchase became official at the end of February.
“Wyoming thriving business community continues to grow as well,” Poll said in his Feb. 7 address. “Nicole Hofert, director of planning and economic development has lead serval exciting initiatives.”
One of those initiatives has been the sale of Site 36, located at 300 36th St. SW, just east of Clay Avenue on 36th Street with an eastern border of Buchanan Avenue. The property has been vacant since 2009, when General Motors closed its stamping plant.
“The developer hopes to be announcing businesses that will be coming to Wyoming in the coming weeks,” Poll said.
City staff indicated the city has retained the northern portion of the site which includes the former parking lot which is separated from the main property by 36th Street. This is where Godwin Heights Public Schools recently added its new athletic entrance which was completed last year.
Franklin Partners, which has been the main marketer for the property, said in a news release that the firm is looking to build manufacturing plants on the site, ranging in size from 150,000 square feet to more than one million square feet. City officials stated that the site will be broken into four or five parcels for development.
The former GM plant, which started as the GM Fisher Body stamping plant, also known in its early days as Plant No. 1, was built in 1936 on the former site and helped to push the construction of much of the city’s infrastructure. At one point, more than 2,000 people were employed at the plant. After 72 years of operation, GM decided to close the plant in 2009 citing the plant was too far away from GM assembly plants, driving up shipping and related costs.
The site was cleared of the two-million-square-foot plant a few years after the plant closing, but much of the infrastructure was retained including onsite utilities and the railway. The proximity of the site to US 131 is another added bonus.
“The day has been a long time coming, and we appreciate the confidence and faith Don (Shoemaker) and his team Franklin Partners have shown in Wyoming, in manufacturing and in our greater West Michigan community,” Wyoming City Manager Curtis Hold said in a statement. “We have long recognized what a jewel this property is – and what tremendous potential it has to attract manufacturers looking for a place to expand or consolidate operations.”
For Abby Lininger, remaining true to herself has been the key in being successful. (Supplied)
By Sheila McGrath WKTV Contributing Writer
When you’re a woman working in a male-dominated field, it helps to have a strong sense of self.
After practicing as a financial advisor for more than a decade, Abby Lininger has definitely acquired one. But it wasn’t something that happened overnight.
“It wasn’t a short journey,” she said.
Lininger, 34, runs the Drake Financial Group office at 2034 84th St. SW in Byron Center. She helps young people open their first investment accounts, manages accounts for retirees, and meets with clients of all ages who seek her help getting their financial lives in order.
Although she believes things are changing for the better, the world of finance is still a man’s world, Lininger says. Even in 2022, men are often the financial decision-makers in a family. And when it comes to seeking help from a financial advisor, they’re likely to look to another man for advice.
According to the Certified Financial Planner Board of Standards Inc., women make up about 23 percent of financial advisors in the U.S.
Abby Lininger with her family. (Supplied)
But there are still a lot of clients out there for someone who doesn’t quite fit the traditional mold, she said. She loves the opportunity to serve a different clientele, whether it’s single, professional women, or young couples who got the brush-off from another advisor because they didn’t have a big enough bank account.
“I don’t look like most advisors you might have met before, but I’m OK with that. I don’t need everybody to be my client. I am looking for people who don’t want that stereotypical financial advisor,” she said.
Lininger graduated from Hope College in 2009 after studying international relations and Spanish. Although her father was a financial advisor, she didn’t see herself going into the same field.
But with the Great Recession making it hard for new graduates to find jobs in 2009, she decided to go to work for her father’s business after all. Her father, Mark Drake, started Drake Financial Group in Portage, where Lininger grew up.
As a new college grad who was also a woman in a male-dominated field, she struggled to gain credibility at first, she said. It’s a field where there’s a lot for anyone to learn – male or female. But she was also very aware of not looking the part of a typical financial advisor. She didn’t wear suits. She didn’t have straight hair. She jokes that she didn’t even sound like a financial advisor. People on the phone would ask her “How old are you?”
She made it through the early years by consulting with others in her office who had more experience, and always continuing to learn. And in time she learned to leverage her laid-back style into a strength. When she’s dealing with clients, she likes to be casual and relatable, using plain language to describe complex topics.
“I think the biggest thing was the realization that I don’t have to be someone else to be successful,” she said.
Lininger graduated from Hope College in 2009 and then joined her father’s business, Drake Financial Group. (Supplied)
She said that she does think things are changing. More women are taking charge of their own financial lives, and she thinks that she definitely has more female peers than her father did when he was starting his career.
Lininger opened the satellite office of Drake Financial Group in Byron Center in 2014 after she and her husband, Brad, moved to the area from Portage. Opening her own office has helped her pave her own path and establish her own credibility, apart from her father’s, she said.
“I’m here creating my own reputation, and I think that is a beautiful thing,” she said.
Kent County announced Wednesday, March 9, that the county Board of Commissioners had voted unanimously to approve a one-time waiver of 2022-2023 food licensing fees for all existing food establishments in the county.
The approximate $1.2 million funding to offset the loss of the fees comes from the county’s portion of the American Rescue Plan Act, according to the announcement. In late 2021, Kent County was awarded more than $127 million to support the continued response to and recovery from the COVID-19 pandemic.
Kent County Board of Commissioner Chair Stan Stek. (Supplied)
“We understand that restaurants are a major driver of our economy, and many establishments are still struggling to recover from the economic setbacks caused by the pandemic,” Kent County Board of Commissioners chair Stan Stek said in supplied material. “We trust this fee waiver will provide much-needed support to keep these businesses going and ensure that they can continue to serve our community.”
All 2,372 food service establishments in the county are licensed by the Kent County Health Department and license fees are based on the classification and type of operation.
“The restaurant business has always presented challenges and the pandemic made everything even harder,” Abby McClure, general manager at Walker Roadhouse, in Walker, said in supplied material. “We are grateful that our Kent County Commissioners voted to use these funds to help alleviate some of the pandemic related challenges we are still facing.”
Restaurants are required to submit a renewal application by April 30, 2022, which will ensure establishments remain licensed during the 2022-2023 operating period, according to the announcement. If an establishment does not intend to renew its license, the application still must be returned but include a signed note requesting its license be cancelled.
Annual renewal applications will be mailed to food service establishments by March 11, 2022.
“It’s fantastic if you inherit an annuity, but you need to understand the tax implications and how to make them more favorable.” – Dave Stanley
You cannot escape taxes if you inherit an annuity. Fortunately, though, understanding how inherited annuities are taxed can help you avoid paying more in tax than necessary. Your beneficiary status and how the payouts are structured determine tax liability for inherited annuities. You can do a few things to ease that tax burden and perhaps defer payment.
For instance, if you are a surviving spouse inheriting an annuity, you have a few options. You can choose to pay taxes on all the money right now or exercise what is called the “spousal continuation provision.” The spousal continuation provision is a tax strategy you use to avoid paying taxes now. You could also spread your tax payments over time by opting for non-qualified stretch payments based on your life expectancy. All of these options have their pros and cons, and you should always involve your financial or tax advisor in the decision process.
If you are a non-spousal beneficiary who inherits an annuity, the rules work a bit differently. Still, there are ways to help minimize your tax bill. For example, you could use what’s called a bonus annuity to help mitigate your tax burden or choose periodic payments. These types of annuities provide bonus money to incentivize you to purchase them.
You can also use other techniques if you have access to a tax planner. Your planner may recommend what’s known as a “1035 exchange,” in which you exchange an inherited annuity for a different annuity that is similar but could provide better benefits. The main reason you would even consider doing a 1035 is if a newer annuity offers you better benefits or more favorable terms. The main thing to remember with a 1035 exchange is that you can’t swap a qualified annuity for a non-qualified annuity to avoid paying taxes.
If you inherited the deceased annuitant’s IRA andthe annuity, you might be able to roll the inherited annuity into a personal IRA in your name. The roll-over option is only available to those who inherit both the IRA and annuity. If you could do a roll-over, you would have to follow the inherited IRA tax rules.
Qualified versus non-qualified annuities.
If you want to understand how an inherited annuity is taxed, two terms that are critical to grasp are “qualified” annuities and “non-qualified” annuities. An annuity is qualified if you purchase it with pre-tax dollars via a tax-advantaged account such as an IRA or 401k.
The IRS treats distributions paid to an annuitant from qualified annuities as taxable income in the year they are received. Qualified annuities are also required to follow required minimum distribution rules. Any withdrawals before age 59 ½ may be subject to the 10% early withdrawal penalty.
Non-qualified annuities arefunded with after-tax dollars in a fashion similar to a Roth IRA. There’s a caveat, though. Although contributions to a non-qualified annuity are not taxable, growth and earnings on the initial investment are tax-deferred. Tax-deferred means you will pay ordinary income tax on the earnings portions of your distributions. However, there are no RMD issues, and you won’t have that 10% early withdrawal penalty.
Summing it up: An inherited annuity can be a welcome windfall or a potential liability. If you inherit an annuity, be sure you find an expert who can help you navigate the rules and suggest ways to avoid paying more in taxes than you must. The key is in understanding how the IRS treats specific kinds of beneficiaries and annuities.
Dave Stanley is the host of Safe Money Radio WOOD1300 AM, 106.9 FM and a Financial Advisor and Writer at Integrity Financial Service, LLC, Grandville, MI 49418, Telephone 616-719-1979 or Register for Dave’s FREE Newsletter at 888-998-3463 or click this link: Dave Stanley Newsletter – Annuity.comDave is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management
Kent County Land for planned Sustainable Business Park, aerial shot that includes the property adjacent to the landfill, with the landfill in the background. (Kent County)
Kent County has announced that a Project Development Agreement has been approved for an “anchor tenant” at the county’s planned Sustainable Business Park in Kent County’s Byron Township, southeast of Byron Center, with the Department of Public Works set to “work with” Continuus Materials and Anaergia on “developing landfill alternative” businesses.
According to a Monday, March 7, statement, late last week the Kent County Board of Public Works approved a Project Development Agreement (PDA) with Kent County Bioenergy Facility, a joint venture between Continuus Materials and Anaergia, and the agreement is now fully executed.
The two companies partnered on a response to a Request for Proposals from Kent County for an “anchor tenant” at the Sustainable Business Park which is planned for 250 acres adjacent to the South Kent Landfill in Byron Township.
Dar Baas, director of the Kent County Department of Public Works, (center in yellow vest) discusses the proposed Kent County Sustainable Business Park in Byron Center with Liesl Eichler Clark, director of the Michigan Department of Environment, Great Lakes and Energy, (Center in orange vest) on a tour in October 2021. (Kent County)
According to the announcement, the PDA is the next step in developing a “multi-faceted mixed waste processing facility capable of handling 430,000 tons of municipal solid waste and recyclables each year to produce renewable natural gas, fertilizer, and recyclable commodities.”
Anaergia has a “proven track record” on four continents of turning organic waste into renewable natural gas and fertilizer using high efficiency anaerobic digestion, according to the announcement. Continuus Materials will produce a roof coverboard material, called Everboard, on site from low value plastics and paper. The plan calls for other recycling and waste processing companies to locate around the anchor tenant at the future Sustainable Business Park.
“We are excited to take the next step in a public-private partnership to help us achieve our goal of diverting 90 percent of trash from the South Kent Landfill by 2030,” Emily Brieve, chair of the Kent County Board of Public Works, said in supplied material/ “Approving the PDA is the culmination of several years of evaluation and due- diligence to find the right company that was a good fit for our community with proven technology. Now the real work begins to nail down costs, schedules and site plans.”
The PDA will guide the DPW and Kent County Bioenergy Facility over the next 18 to 36 months until the project can be fully contracted and financed. If all goes as planned, the facility could be up and running in about three years. The PDA process will also include “continued stakeholder involvement” in the project and to develop supporting policy.
The plan currently calls for Kent County to make a $70 million investment through a bond that would be repaid by tipping fees and shared revenue from materials produced at the park.
NOTE: For Women’s History Month we are featuring local female business leaders. We start our series with Nancy Jacob, who with her husband Mike own Apple Spice Box Lunch Delivery and Catering Co.
Nancy Jacobs is co-owner with her husband Mike of Apple Spice Box Lunch Delivery and Catering, Co. (WKTV)
When you meet Nancy Jacobs, you can’t help feel she is the neighbor you just want to have a sandwich and soda with while discussing the day’s ups and downs.
If that does happen, Jacobs can definitely supply the sandwich and beverage of choice as her and her husband Mike are the owners of Apple Spice, a box lunch delivery and catering company located off of 68th Street.
“We often joke that when Nancy goes out our sales go up,” said Mike Jacobs.
Nancy Jacobs is the face of the operation. She is the one who will load up with samples and then head out to visit with local businesses, encouraging prospective clients to try what Apple Spice has to offer.
“I think because many of the people I meet are often women who are the gatekeepers when it comes to planning events at the business, it is a lot easier for me to get connected with the right person,” Nancy Jacobs said, adding that about 80 percent of her contact is woman-to-woman. Jacobs’ husband agrees that for their business, Nancy Jacobs’ ability to network has helped to make Apple Spice successful.
Nancy Jacobs noted that teachers love the heavy duty box that Apple Spice’s box lunch comes in, using the boxes for a variety of purposes. (WKTV)
The Dream of Having Your Own Business
Mike and Nancy Jacobs started Apple Spice just before the pandemic. Mike had been laid off from his aerospace job and through a seminar his former company offered, came home with the idea of the couple starting a franchise.
“It was something that we had talked about in the past, starting a business,” said Nancy Jacobs, who was a nurse. “However, after the seminar, Mike thought that a franchise made for a reasonable way for us to do that since with a franchise the start-up work of creating the business had been done.
“Basically it is like starting a business but with training wheels.”
Through coaching, the couple narrowed it down to two possible franchises and after visiting both companies, opted for Apple Space, which is based in Salt Lake City, Utah. Food seemed like a natural fit for the couple, Jacobs said as the reason for the choice.
A peek inside one of the Apple Spice box lunches. (WKTV)
The couple selected its 68th Street location, in the same mall as The Dollar Tree and Blain Farm and Fleet, because of the space it provided for their business needs while being close to US 131.
Apple Spice offers primarily lunches, through box lunches and catering. Jacobs said they do offer breakfast and some late lunch/early dinner service. Delivery is available for five or more box lunches and catering. Those wishing to order four or less box lunches may pick up from the store front on 68th Street. She noted that it is the Apple Spice team that delivers the food, not an outside service. This is to assure that items are set up to the customer’s expectations, she said.
And things were going pretty well with the couple even adding their own sandwich, the Michigan Cherry Chicken, to the menu and coming up with a “bread flight” that features three of the catering company’s breads.
Then, the pandemic hit.
“We just watched as our catering business went from steady to zero,” Jacobs said. But the business had a second side, box lunches, which offered a solution to providing individual meals for groups.
“People wanted to help hospital workers or police and fire and they would call up to have box lunches sent to a certain floor staff or department,” Jacobs said. The heavy duty box, which Jacobs said teachers find all kinds of creative ways to use, includes a sandwich, pickle, cookie, and a choice of salads, chips or fresh fruit in the classic box. There are other options as well including salad box meals.
The box lunches helped the business through the pandemic, making up almost 95 percent of its business. The business is now seeing more of a 60/40 spited between its box lunches and catering. Of course, there have been supply demands, with the couple adding a storage container in the back parking lot which has allowed them to stock up on items when they do find them.
It takes two
“I like going to Wyoming Kentwood Area Chamber of Commerce events such as the B2 Outlet opening because it gives me the opportunity to network and meet new people,” Jacobs said. “The Chamber is a good resource for me.”
And while Jacobs maybe good at networking and marketing, she does have her weaknesses.
“I can’t work the computer,” she said looking hesitantly over at her work station. “I just learned one system and they changed it on me. I have to rely on Mike, my general manager and staff to help me.”
That is where having a partner has been key to the business’s success, Jacobs said, adding that Mike handles a lot of the operational needs while she focuses on promotions and networking.
“Sometimes I get a call from a customer and I just know it would be better if a man handled it,” she said. “That is when I can ask Mike if he can take it and sometimes, he gets a call and knows it would be better if a woman took the call, so he gives it to me.”
As for challenges of being a women in the catering world, Jacobs admits she has not had many. Husband Mike said he feels it is because the business they are in, food and catering, is fairly diverse.
“I think there would be more challenges if Nancy was say in something like manufacturing which is more male dominated,” he said.
Apple Spice is the couple’s retirement job as they look toward the future. Jacobs said they hope to get a recreational vehicle someday and travel. They currently do some travel as certified Kansas City Barbecue Society judges.
As for now, Nancy Jacob said the couple’s goal is to continue to build Apple Spice and on that note, as the promotions person, she didn’t hesitate to add to encourage people to connect and check out Apple Spice’s offerings.
Apple Spice is located at 701 68th St. SW. The phone number is 616-805-3288 or visit the website at www.applesauce.com.
Early renovation work at Phoenix Theatres, the soon-to-(re)open movie house at Woodland Mall. (Supplied)
By Philip Janowski, WKTV Contributing Writer
Old and new marquee sign at Phoenix Theatres, the soon-to-(re)open movie house at Woodland Mall. (Supplied)
High-quality moviegoing experiences — in sight, sound and all-reclining seats — will soon be coming to Woodland Mall as Phoenix Theatres has announced it will be opening its planned 14-screen complex on the mall’s south side in April.
The recently installed vertical marquee, spelling out PHOENIX, is sure to show moviegoers the way.
Phoenix Theatres owner Cory Jacobson, right, and local executive Jordan Hohman, in front of the new marque at the soon-to-(re)open movie house at Woodland Mall. (WKTV/K.D. Norris)
The marquee, composed of more than 200 light bulbs, was designed with a classical 1920s and ’30s style in homage to the Chicago Theatre, Jordan Hohman, local executive, recently told WKTV during a backstage tour. The building overall carries a refined art deco style that makes “going to the movies” special again, honoring “tradition” while still providing a “new, modern experience.”
“The theatre can’t just be a ‘box’. You really have to have some character, a face to this business,” Cory Jacobson, owner of Phoenix Theatres, said.
The location is expected to open to the general public Thursday, April 14, after special opening events early that week.
Nearly complete renovation work at Phoenix Theatres, the soon-to-(re)open movie house at Woodland Mall. (Supplied)
Construction is progressing rapidly, with carpeting almost completely fitted and reclining seats added on the daily. At the location there will be four large, three mid-sized, and seven small auditoriums. And, management says, those 14 screens at this location will be the most screens of any Phoenix Theatres location, and will be the 50th screen of the Michigan-based company.
“Like celebrating a fiftieth wedding anniversary,” Jacobson said.
Phoenix Theatres will screen films utilizing the powerful Dolby Atmos sound system, making for some of the highest cinema sound quality in the country, Hohman said.
Phoenix Theatres local executive Jordan Hohman checks out a newly installed camera at the soon-to-(re)open movie house at Woodland Mall. (WKTV/Philip Janowski)
From above, numerous speakers shape sound moving throughout the room. Below, subwoofer speakers in every seat bring the frequency of film audio directly to your chair. This extensive, detailed sound system makes Dolby Atmos the doorway to “improved immersion in films,” Hohman said.
Jacobson actually told a story that Douglas Trumbull, the famous photographic effects supervisor for the classic “2001: A Space Odyssey”, said Phoenix provided the best presentation of the film he had ever seen — and heard — in 50 years.
To promote its new place in the community the theatre is planning to have a ticket giveaway, which can be entered on the company website. First prize is a VIP ticket giving admission to 52 films in the first year, followed by second and third place prizes as well.
Phoenix management is also reaching out to news media and holding press conferences, to make a big initial spash.
When it comes to a grand opening, “You only get one bite at the apple,” Hohman said.
Phoenix Theatres owner Cory Jacobson, left, and local executive Jordan Hohman, check out newly installed seats at the soon-to-(re)open movie house at Woodland Mall. (WKTV/K.D. Norris)
Phoenix Theatres also plan to offer unique experiences through Fathom Events, including Turner Classic Movie showings, anniversary films like celebration of the classic “Casablanca” on its 80th anniversary, and live showings from the Metropolitan Opera.
Fathom is a good chance for many to “explore an interest in operatic shows that would otherwise be difficult to access,” Hohman said. Large sports games and other “live events” may also be shown.
The lobby will include self-serve drinks for faster service, as well as a new lounge with a grand piano. Additionally, the halls are to be lined with photographs of historic local theatres.
Despite advanced sound and video systems, and a retro aesthetic, Phoenix Theatres will carry “friendly” film prices.
“You shouldn’t have to pick between a trip to the movies or a trip out of town,” Hohman said.
For more information visit Phoenix Theatres’ website at phoenixmovies.net.
It is this consistency that will ultimately allow you to create more wealth both in and out of the stock market. (pxhere.com)
“The best way to measure your investing success is not by gains and losses but by whether you’ve improving your overall financial plan that is likely to get you where you want to go.” — Dave Stanley
On the most fundamental level, there are two different approaches to investing in the stock market: active and passive.
An active investor, relying on his or her personal skill, attempts to beat the market by investing in companies believed to have the most reliable long-term growth prospects. Such an investor may try and beat the market by jumping in and out at precisely the right times to maximize gains and avoid losses.
Passive investors, on the other hand, are looking to match market returns by spreading money around between different types of investments. How their money is allocated will affect their returns, but passive investors are interested in simply taking market returns and not trying to get an edge on everyone else in the market.
There is an obvious difference between the two strategies and, for most individuals, beating the market as an active investor is nearly impossible. Typical active investors, in fact, regularly underperform the market by 4-5%. Even professional investors have difficulty beating the market consistently. Most people wind up losing to the market.
That’s why, when discussing what course of action is best for an individual, financial guru Ben Graham stated that an individual “should act consistently as an investor and not as a speculator.”
Index Investing and the Single Investor
A stock index is a measurement of a segment of the stock market. These indexes are compiled from the prices of selected stocks, usually using a weighted average. Contrary to what you may think, an index (such as the S&P 500) is not the “pulse” of a market, but rather a tool used by investors and financial advisors to compare the returns on specific investments and to describe the moods of investors.
Indexes use a base value that represents the weighted average stock price of all the stocks comprising that particular index. The actual index number has much less importance than its percent change over time. It is this up or down movement that can give you an idea of how that particular index is performing.
Each index is calculated on an ongoing basis every day the market is open, and each reflects market conditions and the state of the economy differently. It is important to note, however, that the most referred-to stock indexes, like the NASDAQ and S&P 500 reflect only a portion of the actual market and not the whole market. So, while indexes give you a useful snapshot of market movements and the attitudes of investors and provide you with a better historical perspective, they are not as useful as forecasting tools. Indexes tend to be most helpful as a research tool when viewed over a long historical period to determine trends and changes in investing patterns. Using an index will provide an investor with a yardstick for comparison.
Far from being the refuge of the timid and inexperienced willing to earn less on their investments, index investing has proven itself to be an incredibly effective strategy that often outperforms similar active investing strategies. 80-90% of the time, taking market returns produced by index investing produces better results than similar active strategy.
Index investing allows even those who are not “bull market geniuses” or who do not possess degrees in finance to make smarter decisions when it comes to growing wealth. It is perhaps the very best way to participate in market gains without having to incur excessive exposure to risk and the many expenses of more active growth strategies. Index investing lets you simplify and streamline the investment process and become more consistent.
It is this consistency that will ultimately allow you to create more wealth both in and out of the stock market.
Dave Stanley is the host of Safe Money Radio WOOD1300 AM, 106.9 FM and a Financial Advisor and Writer at Integrity Financial Service, LLC, Grandville, MI 49418, Telephone 616-719-1979 or Register for Dave’s FREE Newsletter at 888-998-3463 or click this link: Dave Stanley Newsletter – Annuity.comDave is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management
It was only 8:30 a.m. and customers already were lined up outside the new B2 location at Rogers Plaza on the chilly morning of Thursday, Feb. 24.
Wyoming Kentwood Area Chamber President Keith Morgan (right) presents B2 co-owner Duane Smith a recognition certificate before the ribbon cutting ceremony for the store’s new Wyoming location. (WKTV)
The outlet store recently moved from a few spots down from 968 to 962, the former OfficeMax location. The space is three times more than its former location allowing the store to add furniture to the Wyoming location.
“This was something that we would not be able to have had in the old location,” said Rebecca Smith, who is the marketing and public relations manager for the B2 Outlet Stores.
Started in 2014, the B2 stores are designed around the concept of providing good deals to its customers while giving back to the community, said Duane Smith who along with his son Matt are co-owners of the stores.
“Hence the name B2,” Smith said. “It is to provide a benefit to customers while benefiting the community as well.”
Each B2 store partners with a local charitable organization. The Wyoming store has partnered with Lifeline Church. The stores also host a Mission of the Month program for nonprofit organizations that are aiming to help their communities locally and internationally. During a specific month that local organization is featured guests are asked if they would like to round up their purchase to support the organization.
B2 has donated back $1.25 million to local and global causes since 2014, helping more than 250 local organizations.
Shoppers finally get their chance to check out the new B2 Outlet Wyoming store. (WKTV)
There are now 23 B2 Outlet stores in Michigan and one in Illinois. The store sells clothing, home decor, gifts, food, toys, tools, household items, linens and pillows, cleaning supplies, back-to-school supplies, recreation goods, and seasonal items.
Brian Long is a local business forecaster. Credit: GVSU
Modest, steady economic growth continues in West Michigan, yet supply and personnel shortages are hindering normal business operations, according to Brian G. Long, director of Supply Management Research in the Seidman College of Business at Grand Valley State University.
Long’s report for January showed positive numbers for employment, new orders and production, although Long called pending interest rate hikes and a looming situation in the Ukraine “the elephants in the room.”
“If a serious war breaks out and Russia invades Ukraine, all bets are off,” Long said. “Domestically, the greatest economic threat remains inflation. The next two or three reports may rise to a rate of 8 percent or so, and then begin a gradual decline for the rest of the year.”
Other highlights from Long’s report: • Sales/new orders rose slightly in January to +18, signifying that new orders of raw materials or services will be made soon • The index of employment was down in January to +13, from +17 in December; the most significant personnel shortages are in hospitality and service industries • Production index was down slightly in January to +15, from +16 in December
The Institute for Supply Management survey is a monthly survey of business conditions that includes 45 purchasing managers in the greater Grand Rapids area and 25 in Kalamazoo. The respondents are from the region’s major industrial manufacturers, distributors and industrial service organizations. It is patterned after a nationwide survey conducted by the Institute for Supply Management. Each month, the respondents are asked to rate eight factors as “same,” “up” or “down.”
For an audio of Long’s complete report, click here.
From left, Ford Airport CEO and President Tory Richardson, Ford Airport Board Chair Dan Koorndyk, and Grand Rapids Mayor Rosalynn Bliss. (Supplied)
On Feb. 23, the City of Grand Rapids joined Gerald R. Ford International Airport officials to unveil the new home of an Alexander Calder model airplane built in honor of the nation’s Bicentennial.
Commissioned by Braniff International Airways and hand painted by the artist and sculptor who has strong ties to West Michigan, Flying Colors of the United States is gouache on resin-cast plastic. A gift to the City of Grand Rapids in 1975, the airplane features the stars and stripes flag waving in the wind with Calder’s bold signature on the tail.
The design from Calder, whose La Grande Vitesse has become a symbol of pride for Grand Rapids, was recreated on a Boeing 727. First Lady Betty Ford presided over the ceremony in the nation’s capital when the actual plane was dedicated Nov. 17, 1975 – the year before the celebration of America’s 200th birthday and the year of Calder’s death.
The model was presented to the City of Grand Rapids by Braniff two days later when the Flying Colors flew into Grand Rapids. The City is loaning the model, which has a wing span of 74 inches, so it can be viewed by residents and visitors who travel through Ford International Airport.
“We are incredibly pleased to unveil a second Calder piece for our growing collection, which underscores our commitment to both preserve the history of our community and to highlight its public art,” said Tory Richardson, president and CEO of Gerald R. Ford International Airport Authority. “We appreciate the opportunity to partner with the city of Grand Rapids to showcase this striking sculpture, which is a welcome addition to our entrance hall.
“As the gateway to West Michigan, we are honored to host Flying Colors at the Ford International Airport.”
Discussions around relocating Flying Colors began in 2019 as Ford International Airport was in the midst of the first phase of its Gateway Transformation project to upgrade the guest experience. The Airport Art Committee collaborated with representatives from Grand Rapids and others involved in the arts and historical preservation to develop an appropriate display prior to the move.
That process was interrupted for nearly a year by the COVID-19 pandemic, resuming in March 2021 as passenger volume began to increase. In September 2021, a painted wooden model of La Grande Vitesse was moved to the east end of the entrance hall as work continued on a display case for Flying Colors, which is located at the other end of the hall.
The La Grande Vitesse stabile, which sits on Calder Plaza in downtown Grand Rapids, was the first piece of public art in the nation to be purchased with a grant from the Art in Public Places program.
One of the entrances to Woodland Mall (on a nice weather day). (Supplied)
WKTV Staff
After frigid temperatures in January resulted in the postponement of the City of Kentwood’s Unity Walk to Honor Martin Luther King Jr., the city announced this week that the event has been rescheduled for Saturday, March 5, and moved indoors at Woodland Mall.
Residents of all ages are invited to gather at the food court inside Woodland Mall, 3195 28th St. SE, at 9:30 a.m., for a walk that will end at 10 a.m., in front of the inside entrance to Von Maur.
The Martin Luther King, Jr. Memorial. (Wyoming High School)
A ceremony will immediately follow and feature a proclamation, live music, coffee and cake. The event is free and open to the public.
Donations of canned goods and other nonperishable items will be accepted to stock Kentwood’s Little Free Pantry, which began as an MLK Day community service project to fill an immediate and local need. Since then, the city has continued to host food drives to keep the pantry well-stocked.
“While MLK Day serves as a timely, annual reminder of the life and work of Martin Luther King Jr., every day is a great day to celebrate his legacy and take part in activities that honor his values,” Mayor Stephen Kepley said in supplied material. “We’re grateful for the opportunity to host our Unity Walk to Honor MLK at Woodland Mall. It is the perfect local venue for us to be able to gather together, no matter the weather.”
Woodland Mall marketing manager Alyson Presser stated that the event is “in line with the spirit of the mall’s ongoing initiatives and events that encourage guests to support the Black community throughout the year,” according to the announcement.
“We are committed to celebrating and supporting the Black community beyond Black History Month and other annual observances,” Presser said. “We’re honored to work with the City of Kentwood to bring another meaningful opportunity for the local community to celebrate the historic achievements and continued advancement of Black Americans.”
Kentwood’s first Little Free Pantry opened in 2017 at the Kentwood Activities Center, 355 48th St. SE, where it remains available year-round during business hours. The second Little Free Pantry was opened last year at the Kent District Library – Kentwood (Richard L. Root) Branch for the community to visit during library hours. Anyone can utilize or donate to the pantry.
Woodland Mall asks all guests to follow CDC recommendations by using the hand sanitizer stations located throughout the mall and practicing physical distancing.
Sometimes a never-ending lifetime flow of income is a better option than a pile of money. (pxhere.com)
“A recent study by Oxfam explained the distribution of wealth which to many people is alarming. The report states that 85 individuals in the world have more combined wealth than the poorest 3.5 billion.” — Dave Stanley
It further states about our country: “In the US, where the gap between rich and poor has grown at a faster rate than any other country, the top 1% captured 95% of growth since 2019. During that time, 70% of Americans became poorer.”
The “rich get richer” as the old saying goes and the gap between rich and the number of poor widens every day. Of course, the obvious way to balance out the deficit would be to add all the money together and give each an equal share. If my memory of history is accurate, this has been tried in the past — it was called Communism.
I wish everyone on planet earth could have all their needs met and live a long and happy life. That being said, the rich will always have an advantage over the poor. Instead of discussing the variance between the rich and the poor, how about those of us in the middle, the other four billion here on planet earth? Those of us who work at a job, save money, and educate our children are the ones who are the middle class, so how do we get ahead?
In September 2020 a UC Berkeley study found that the wealthiest 1% of Americans saw their income grow by 31.4% between 2018 and 2020. Also, it was discovered that income inequality in the United States was the highest since before the Great Depression.
How did this all happen? How does such inequity occur? One actual reason why most in the middle class cannot move to a loftier position is our tax system. Workers are taxed at a different rate than investors — the difference between earned income and dividend and capital gains taxation is significant. If you work, your tax rate is higher than if you earn from your investments.
How do we accumulate more money? How do we become millionaires? My answer is simple: we don’t need to. Ask yourself, what good is a pile of money? Does it represent success? Does it acknowledge your efforts? Yes, it does, but it is not important.
What is important is cash flow, having enough money to live as well as you desire. Now I know there are those who desire to accumulate a large amount of money. To me, having an income that I cannot outlive is far more critical.
That being said, we in the middle class already have that option open to us, income we cannot ever outlive. It is called investing in an annuity.Sometimes a never-ending lifetime flow of income is a better option than a pile of money.
Dave Stanley is the host of Safe Money Radio WOOD1300 AM, 106.9 FM and a Financial Advisor and Writer at Integrity Financial Service, LLC, Grandville, MI 49418, Telephone 616-719-1979 or Register for Dave’s FREE Newsletter at 888-998-3463 or click this link: Dave Stanley Newsletter – Annuity.comDave is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management
Anyone who meets Dave Custer will probably eventually hear the story of faced with his father’s story closing, he was able to support the tuition at the then Grand Rapids Junior College.
“Grand Rapids Junior College had lower tuition and allowed me to stay at home and helped me get a start on a college degree,” he said in article from the Grand Rapids Community College. “And having that degree allowed for better opportunities of employment, which molded by career.”
Because of the difference that GRCC had made in the CEO and founder of Custer Inc., Custer and his wife, Karen, have dedicated their time and abilities to ensure current GRCC students get the same opportunities that he had.
This month, the couple is being recognized for their service to the the Greater Grand Rapids community as this year’s Frederik Meijer Service Above Self Award presented by the Rotary Club of Grand Rapids.
“We are pleased and excited to honor the Custers as the 2022 Frederik Meijer Service Above Self Award winners for their contributions to our community,” said Meijer, Inc. Executive Chairman Hank Meijer, who is the son of Fred Meijer. “Dave and Karen’s generous and gracious spirts embodies the true meaning of this award.”
The Custers have been involved in a number of organizations such as the WMU Foundation, Chairman of GRCC Foundation, Hope on the Hill Foundation, Clark Retirement Community Capital Campaign Chair and Board Trustee. Dave Custer is a member and past president of the Rotary Club of Grand Rapids, member and past chairman of the Grand Rapids Economic Club, member and past president of Cascade Hills Country Club and director at Irwin Seating.
“We are honored to receive an award that bears the name of Fred Meijer and believe that you should do all you can for others when you can and while you can,” Dave Custer said. “We are humbled by this recognition which is truly an honor to us.”
The Custers join City of Wyoming’s Marge Wilson, owner of Marge’s Donut Den, along with several others who have received the Frederik Meijer Service Above Self Award.
The Rotary Club of Grand Rapids will honor the Custers at the Frederik Meijer Service Above Self Award Celebration May 10 at 6 p.m. at The Cultural Center, 2250 E. Paris Ave. SE. Proceeds from the event will benefit the Rotary Club of Grand Rapids Charities Foundation. Tickets are on sale at grrotary.org or by calling 616-429-5640.
No one taught Dondrea Brown about money as a kid, and the last thing anyone around his kitchen table wanted to mention was the rising pile of bills. Growing up in a single-parent household, he admired how his mother juggled multiple jobs and raised his five siblings.
As Brown learned about money management later in life, he kept hearing people say, “I wish kids knew about this stuff, too.” While studying education at Kent State University in Ohio, he drew upon his experience of overcoming economic hardship to develop a financial literacy curriculum geared toward an audience between ten- to seventeen-years-old.
Dondrea Brown talks to a group of students in his Young Money Finances program. (Supplied)
This curriculum now forms the basis of Young Money Finances, a nonprofit providing financial education to more than 2,000 participants across West Michigan. The fast-growing organization has garnered media attention and significant sponsorship dollars for its innovative approach to removing obstacles to financial security for young people. Because of his work in teaching financial literacy, Brown, along with Henry Sapp from of Better Wiser Stronger and Cole Williams of the Delta Project, was recently invited to help launch the new collaborative initiative We Matter Now, which is designed to help guide and provide role models for young black and brown men.
“I want this to be the last generation to start from scratch,” Brown said. “My goal is to teach the next generation how to have increased control and awareness of their financial journey, not this perpetuated cycle of ‘oh, we didn’t know.'”
For many young people, the balancing act of caring for family members, finding a job, and keeping up with schools feels overwhelming. Those who lack a support network rely on misleading information from social media, seek instant gratification, and wind up in debt.
At Young Money Finances, participants learn how to address this balancing act by completing one or all three program paths: money management, investment, and entrepreneurship. After completing at least one of the paths, they can meet with a money mentor to discuss real-world spending and saving decisions and practice using the budgeting planner and flashcards in their money manager kits.
Even when sessions dive deep into complicated topics like the stock market, the team at Young Money Finances never forget to have a good time. Sessions use “fun police,” who remind instructors to use games and culturally relevant examples such as online sneaker sales when explaining complex concepts.
For some participants, the lessons delivered during these sessions have been life-changing. Quavon Hallman, a music enthusiast who spends his free time DJing and running sound for New City Kids and his local church, learned how to use a budget app and track travel expenses.
For some participants, the lessons delivered during these sessions have been life-changing. Quavon Hallman, a music enthusiast who spends his free time DJing and running sound for New City Kids and his local church, learned how to use a budget app and track travel expenses.
“I was broke, but I saved up $10,000 and bought my first car,” Hallman said. “I learned the difference between getting rich quickly and building wealth.”
Another program graduate, Thailin Johnson, found a simulation focused on building on a starting point of $500 in the bank and cutting frivolous spending habits to be helpful. The exercise taught Johnson the importance of making incremental progress toward achieving his life’s ambitions, including attending college to study sociology or international relations, leading community service projects, and traveling to foreign countries like Ghana and Israel.
“Pay attention and take ownership of your money,” Johnson said. “The training taught me how to break the cycle of the poverty mindset. Young people’s money matters.”
After class, Dondrea Brown sits down with a student to review the matierals. (Supplied)
Reginald Haynes, an athlete who enjoys basketball, football, and wrestling, developed an interest in videography during his time in the program. He records special events for Young Money Finances, with a highlight being a basketball game hosted in partnership with the NAACP.
“I want to help pay off my mom’s house and just provide relief,” Haynes said.
Hallman, Johnson, and Haynes represent the fulfillment of one of Young Money Finances’ goals to help program graduates find employment. Each of these individuals will receive internship credit for assisting with workshop presentations, curriculum development, and social media.
The rapid expansion of Young Money Finances excites Brown, who hopes to purchase a bus for field trips and a building with simulated stock market walls and bank teller stations.
The organization applied for and received grants from Heart of West Michigan United Way, the Grand Rapids Community Foundation, Huntington Bank, and Edward Jones. It also established partnerships with local universities, nonprofit organizations, and the Grand Rapids Public School system.
To learn more about Young Money Finances, visit the organization’s website or Facebook page.
Woodland Mall has announced plans to help those “looking to maintain your resolutions to stay fit and healthy in 2022” with a free Heath & Wellness Expo planned for Saturday, Feb. 19.
A dozen or more vendors will showcase their products and services from noon to 7 p.m., according to an announcement this week from the mall. From exercise equipment to better sleep, and workout clothing to healthy eating, shoppers will be able to connect with experts focused on promoting an active, engaged and healthy lifestyle.
“We’re all looking to improve our health and well-being,” Alyson Presser, marketing manager for Woodland Mall, said in supplied material. “We have drawn from our own retailers and invited a curated collection of West Michigan’s top organizations for this year’s Health & Wellness Expo, which can help shoppers keep their resolutions and live their best and healthiest lives.”
The event is free and open to the public. Booths will be set up throughout the mall.
Among the vendors expected to be at the Health & Wellness Expo are Aerie, Atman Collective, Black Impact Collaborative, CycleBar, EYEQ.ITY, Jamba Juice, JCPenney, Mayweather Boxing + Fitness, Offline by Aerie, Orangetheory Fitness and Tempur-Pedic.
The expo will also feature demonstrations by Mayweather Boxing + Fitness and CycleBar, along with a fashion show from Aerie and Offline by Aerie and several workout demonstrations.
Woodland Mall asks all guests to follow CDC recommendations by using the hand sanitizer stations located throughout the mall and practicing physical distancing.
Regular mall hours are 11 a.m. to 8 p.m., Monday through Thursday; 10 a.m. to 9 p.m., Friday and Saturday; and noon to 6 p.m., Sunday.
Woodland Mall is located at 3195 28th St SE, Grand Rapids. For more information visit shopwoodlandmall.com.
DIAs offer several distinct advantages over kinds of safe money products. (pxhere.com)
“Does a deferred income annuity have a place in your retirement plan? It might fit in your portfolio like a glove.” — Dave Stanley
If you’re looking for payments that begin on a future date and continue for the rest of your life, your spouse’s life, or for a specific period, you might consider a deferred income annuity (DIA).
DIAs offer several distinct advantages over other kinds of safe money products. You won’t need to keep your eyes on the stock market, track interest rates, or calculate dividends. If you desire lifetime guaranteed income that you can’t outlive, a deferred income annuity will accomplish that. Having a DIA can give you more peace of mind knowing you will have a predictable income stream available when you no longer work.
For some, DIAs are an excellent selection for their retirement portfolios because they help defer taxes until later when you could be taxed at a lower rate. Other types of annuities are front-loaded, meaning you pay taxes upfront, perhaps at a higher rate.
DIAs are guaranteed by the issuing insurance company’s assets and are not subject to the ups and downs of the stock market. Also, since deferred income annuities don’t have account management and additional fees, ALL of your premium payments go to your monthly income.
When you choose a DIA, you decide how frequently to receive payments. Typically, deferred income annuity buyers can set payments for every month, yearly or quarterly.
Although DIAs are a less complicated safe money product, they are still highly customizable. Improvements in the DIA product mean that you have options to make your DIA do more for your retirement.
One question about annuities is what happens to your funds when the annuitant dies? Does the insurance company stop making payments? Do loved ones lose all the money put into the annuity? Customization allows payments to continue to designated beneficiaries, so it will enable guaranteed income to continue. There are many other ways to customize your annuity, including extending coverage for a guaranteed period, adding a second person to the annuity, and others. An annuity specialist can help customize one just for you and your circumstances.
Tax issues:
How your annuity proceeds are taxed depends on how you fund it. For example, you can purchase a deferred income annuity with proceeds from selling stocks or bonds, a business, or a home. You might also use cash from a maturing CD or money you’ve saved in a deferred annuity account. When you fund a DIA with lump-sum distributions from a defined benefit or defined contribution plans, SEPs, IRAs, 1035 exchanges, or Section 403b plan, the annuity is now a “Qualified Deferred Income Annuity.” You could also use a lump sum from a tax-qualified account, such as a 401k or traditional IRA. Remember to talk with your tax expert since your plan has been growing tax-deferred, and your payments will be taxable income.
Non-qualified deferred income annuities have not been tax-sheltered. They are funded with monies on which you have already paid taxes. Examples of non-qualified annuity money can come from selling a house, mutual fund, business, or other investment. They might also make sense if you receive large inheritance or proceeds from an insurance settlement.
When you start receiving annuity payouts from a non-qualified annuity, a portion of each payment is considered a return of principal and excluded from taxation. The amount excluded is calculated according to an “exclusion ratio.” You can usually find the details of the exclusion ratio on any quotes you get. Be sure to have your annuity professional explain this to you carefully before deciding on any product or company.
The bottom line: Deferred income annuities are an option for people looking to create a pension-like source of reliable income. Like a variable annuity, you won’t access your money for a specific number of years, allowing it to grow. Like an immediate annuity, DIAs have fixed payouts for life. Customization options will enable you to solve other issues, including ensuring income for a spouse or beneficiary.
If you are looking into deferred income annuities, speak with your qualified local expert experienced with the many types of annuities available. They will evaluate your needs and goals to determine if a DIA will solve the most critical issues.
Dave Stanley is the host of Safe Money Radio WOOD1300 AM, 106.9 FM and a Financial Advisor and Writer at Integrity Financial Service, LLC, Grandville, MI 49418, Telephone 616-719-1979 or Register for Dave’s FREE Newsletter at 888-998-3463 or click this link: Dave Stanley Newsletter – Annuity.comDave is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management.
