The Summers family is excited to announce that after 14 years, they have rejoined forces and will be celebrating the grand opening of Seasons Wealth in Devine this April. Todd Summers and Jenn Saunders will join Kris Summers and the team at Seasons Wealth.
A full-service financial planning firm, their two primary categories of services are investing and financial planning.
“Within the financial planning category, we help with retirement planning, education funding and planning, life insurance, long term care expense planning, estate planning, debt management, and budgeting,” Kris Summers said.
The new office will be located in Devine at 203 B E College Ave.
“One of the advantages of working with someone in our local office is that we have a Certified Financial Planner professional on staff. We are able to offer services and a standard of care that is not usually found in a town the size of Devine. In addition, most of our team has roots in Devine so we understand our clients and their needs,” Summers said.
What are some things people often misunderstand when it comes to investments?
“The most concerning mistakes an investor can make when they don’t engage the services of an advisor are tax mistakes. While we are not CPAs, we often work with a client’s CPA and we must be very familiar with tax regulations so that tax bills are minimal. It is easy to make mistakes that could bump a client up into a higher tax bracket when investors go it alone,” Summers said.
“A second mistake is simply to not realize the complexity of the investment world. With the availability of information and the perception that it’s easy to invest on one’s own, investment decisions can appear to be easier than they are. When we make a recommendation at Seasons Wealth, we utilize our team’s more than sixty years of combined experience and a vast array of investment choices, always keeping in mind taxes and expenses” Summers adds.
Any tips about retirement planning?
“People have gotten better about understanding the compounding of interest and the need to start early, however, with the current level of spending and the wealth of the country, people still make mistakes by not putting enough away. One way to explain it is that if, by using debt, you’re spending 150% of what you make, it’s not going to work, if you’re setting aside 5% of your income, yet want to retire in your 50s. The math just doesn’t add up.”
Any other tips?
When choosing a financial advisor, do not overlook the advisor’s record which can easily be checked on BrokerCheck. We do not recommend hiring an advisor without looking at their length of time in the industry and disciplinary history on BrokerCheck. Lastly, be sure you’re comfortable asking questions throughout the business relationship and, when questions are answered satisfactorily, make sure you take your advisor’s advice. If you often find yourself at odds with your advisor, you probably don’t have the right one.”
The idea of investing can seem intimidating to some who have never done it. What is the minimum amount you need to create a worthwhile investment?
“Investing can be intimidating but it shouldn’t be if you’re working with a good advisor. Matter of fact, the most important thing we do for clients is to give them confidence in their future. The minimum amount that you need for investing to be worthwhile is $1. In other words, you’ve just got to get started. Look at your budget and decide how much you can set aside even in a bad month. Start there and you won’t miss it. Then re-evaluate every six months and try to increase the amount at least by a little, maybe even $10. Before you know it, you’ll have a good start on the nest egg that you’re going to need if you ever plan to retire. And this strategy will work for any financial goal, not just retirement planning.”
Check out their ad on page 2 this week, and their weekly ad in The Devine News.