James Kraatz • Shelby Township, MI
Faith Investment Services LLC • Peak Brokerage Services LLC
Our team of professionals creates comprehensive financial and retirement plans for clients that seek to preserve, protect, and grow their wealth, using a variety of investment and insurance products and services.
While we have a specialized focus on providing faith-based strategies that help align a client’s investment plan with their values and beliefs, we invite anyone sincerely looking to improve their financial lives to see if our firm is a good fit for their needs.
Several years ago, we recognized a growing need for more financial education for women. This realization began when a woman from my church lost her husband during the COVID pandemic. I sent her my condolences and a devotional book by Billy Graham. A few weeks later, she called me and said she was very concerned about her financial future since her husband had managed their finances. I came to realize this was a common issue.
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We began offering a one-hour financial-education workshop called “Women’s Retirement Roadmap.” It was designed for women, but we welcome anyone interested in attending. We use a third-party firm for targeted advertising on Facebook to spread the word about when we’re offering the workshop, which has been held at a facility that specializes in community-oriented events. We may also start offering them at a local community college.
The workshop includes the following sections, all of which are designed to raise awareness of the key issues women face in planning for their retirement:
- Women’s specific retirement risk and challenges: This introductory section sets the stage with several statistics that demonstrate how financial education can help women address some of the most common fears, challenges, and opportunities they may face in retirement planning.
- 4 things women need to know about Social Security: This section clarifies Social Security concepts important for women, especially spousal and survivor benefits and the impact of longevity.
- How taxes in retirement impact women: This section covers facts about inherited IRAs and required minimum distributions (RMDs), Roth IRA conversions, and tax brackets.
- Health care in retirement: This section looks at the realities of longevity and funding the expected need for long-term care.
- How to handle a market correction: Research shows that emotional investing by any investor—regardless of gender—diminishes returns. Following a well-constructed, long-term investment plan can prevent poor investment decisions.
The formal presentation is followed by a Q&A session, and then participants are invited to schedule a complimentary review of their existing retirement income plan—or the opportunity to create one.
Delivering financial education that enhances the overall retirement knowledge of the general public is very gratifying. This initiative has effectively enhanced our firm’s reputation in the community, expanded our network, and opened opportunities for more in-depth conversations with prospective clients.
Disclosure: Advisory services offered through Blackridge Asset Management, an SEC registered investment adviser. Securities are offered through Peak Services Brokerage LLC. Member FINRA/SIPC. Faith Investment Services LLC and Blackridge Asset Management are separate and independent entities from Peak Brokerage Services LLC.
Photography by Genevieve Devries
