Captain’s Log

A Smart Move at Age 59½

Did you know that once you turn 59½, most retirement plans allow you to take what’s called an in-service distribution? In plain terms, this means you can roll money out of your employer’s plan and into an IRA—without leaving your job.

Why does this matter?

• Proactive Management: At Anchor Wealth, our investment committee meets quarterly to review portfolios and make changes right away when needed. In my experience, most clients only review their retirement plan allocations once a year—and often it’s been more than three years since their last update!
• More choices: IRAs typically offer a much wider range of investments than most 401(k) or 403(b) plans.
• Lower costs: Employer plans can have hidden fees. An IRA may be more cost-friendly.
• Greater flexibility: IRAs give you more control over how and when you use your money in retirement.
• Better coordination: Consolidating assets in an IRA lets us align your retirement dollars with your bigger financial plan.

If you’ve already reached age 59½, now is the perfect time to explore this option. Start by checking your retirement plan document to see if in-service distributions are allowed. From there, we can talk through whether this strategy makes sense for you and your goals.

Adam Ludwig, CEO/ Wealth Advisor

Help Your Child Plan for College Without Debt

College is one of the biggest milestones for many students and their families and one of the biggest expenses, too. With tuition costs climbing every year, it is easy to worry about how to pay for it all. Many graduates leave school with debt that takes years, even decades, to pay off. The good news? It doesn’t have to be that way. With some planning and the right resources, you can help your child build a strong financial foundation and pursue their education without the heavy burden of loans at the finish line.

CLICK HERE to finish reading Kirk Pearson’s Blog for September.

LAST CALL! A Final Push for Operation Christmas Child!

Christmas Child! As the deadline for our Operation Christmas Child donation drive quickly approaches, we would like to extend a heartfelt thank you to everyone who has already contributed. Your generosity will make a world of difference to children in need.

This is the final call for donations! Our last day to accept items is October 13th. If you haven’t had a chance to donate yet, there is still time to help. You can help by purchasing an item(s) from our Amazon wishlist.

Remember, a simple shoebox can bring joy and hope to a child who may be experiencing poverty, war, or disaster. It’s a small act that creates a big impact.

You can drop off items you have purchased elsewhere at the Anchor Wealth Management office at any of our three locations:

• Lanark Office: 126 N. Broad St., Lanark, IL 61046
• Freeport Office: 1013 Loras Dr., Ste. A, Freeport, IL 61032
• Rockford Office: 4949 Harrison Ave., Ste. 110, Rockford, IL 61108

You can also make a financial contribution to help cover shipping and other costs.

Thank you in advance for your generosity and support! If you have questions, contact Chris DeSchepper at (815) 201-5011 Ext. 1020.

Adam’s Nightstand…Your next favorite book is here

I am currently reading Inner Excellence: Train Your Mind for Extraordinary Performance and the Best Possible Life by Jim Murphy.

As a professional baseball player, Murphy’s sense of worth revolved around results—he was focused on achievement but also afraid of failure. That tension led to his research and, eventually, the writing of this book.

At first, I didn’t connect the dots that this is the same book that gained so much attention last football season when Philadelphia Eagles star receiver A.J. Brown was spotted reading it on the sidelines during games. That moment gave both the book and the author a huge public boost. Murphy makes the case that the pursuit of extraordinary performance and the pursuit of an exceptional life follow the same path. I especially enjoy his use of insights from the athletes he’s worked with and interviewed— being a lifelong sports fan, that really resonates with me.

This book offers practical wisdom that can put you on a path toward a more fulfilling and joyful life!

Would you like to read this book? You can find it on Amazon