If you are turning 73 this year, this message is for you. The IRS may require you to take your first Required Minimum Distribution (RMD) from pre-tax retirement accounts, such as a Traditional IRA. Missing an RMD can lead to costly penalties—so it’s important to plan ahead. What Is a Required Minimum Distribution (RMD)? A Required Minimum Distribution (RMD) is the minimum amount the IRS requires you to withdraw each year from certain retirement accounts once you reach the required age. RMDs apply because these accounts are generally funded with pre-tax dollars, meaning withdrawals are typically taxable income. Who Needs to Take an RMD at Age 73? If you’re turning 73 this year, you may need to start RMDs from pre-tax retirement accounts, including: Roth IRAs generally do not require RMDs for the original owner. First RMD Deadline: Don’t Get Caught Off Guard Your first RMD has a specific deadline,

Entering retirement is a major milestone. After years of saving and investing, your focus shifts from building wealth to protecting retirement savings and creating a reliable income. For many retirees, however, the early years of retirement introduce risks that are often underestimated—and can have lasting financial consequences. 1. Longevity Risk: Outliving Your Retirement Income One of the most significant retirement risks is longevity risk, or the possibility of living longer than your retirement savings were designed to last. According to the Social Security Administration, a 65-year-old today can expect to live, on average, to about age 84 or 85. Importantly, many retirees—especially couples and healthy individuals—will live well beyond that average, potentially into their 90s (SSA Actuarial Life Table, 2024). Research from the TIAA Institute shows that retirees often underestimate how long retirement may last, which can result in income strategies that fall short later in life. How to manage

The holiday season brings moments of reflection—gathering with family, sharing stories, and enjoying traditions that remind us what truly matters. Amid all the celebrations, there’s one meaningful gift many people overlook: Creating a plan to pass on your legacy. Legacy planning isn’t just financial—it’s emotional. It protects the people you love and ensures the life you’ve worked hard to build continues to support your family and reflect your values. For many in our community, where family connections and long-term stability matter deeply, legacy planning is one of the most impactful gifts you can give. Why Legacy Planning Matters for Local Families Whether you live along the Lakeshore, in the Grand Rapids area, or anywhere throughout our region, you’ve worked hard to build something meaningful. A thoughtful legacy plan ensures your wishes are honored and provides clarity for your loved ones by answering: The holidays naturally bring conversations about the future—retirement

If your certificate of deposit (CD) has recently matured—or will in the coming weeks—it’s time to make a strategic move. Across West Michigan, from Grand Rapids to Holland, Muskegon, Lansing, and Kalamazoo, many savers are discovering that Fixed Indexed Annuities (FIAs) and Multi-Year Guaranteed Annuities (MYGAs) can offer better yields, stronger guarantees, and valuable tax advantages compared to renewing a CD at today’s lower rates. Whether you’re planning for retirement or simply trying to make your savings work harder, understanding your post-CD options can help you protect what you’ve earned while setting yourself up for more predictable growth. Why Now Is the Time to Re-Evaluate Your CD Strategy When your CD matures, your bank gives you only a short grace period—typically about 7 to 10 days—to decide what to do next. If you don’t act, it often renews automatically, sometimes at a much lower interest rate than before. As interest