These employees have reached the following milestones this month, and we celebrate and appreciate their longevity with us. Congratulations! Jodie Gantz – 17 Years, Leah Henk – 8 Years, Molly Barrett – 7 Years, Cherie Nelssen – 5 Years, Lisa Pauls – 5 Years, Jeri Schlaefli – 1 Year.
Take comfort that no matter who carries the title of president or king or premier or any other earthly title that the Jesus of the Bible has authority over them all and the power to back up his authority. Jesus Himself tells us so in the Bible at Matthew 28:18 which reads, “Jesus came and told His disciples, ‘I have been given all authority in heaven and on earth.” And take comfort knowing that whatever earthly authorities there are they exist because God allowed them to. Romans 13:1 reads, “Everyone must submit to governing authorities. For all authority comes from God, and those in positions of authority have been placed there by God.”
God also in His word reminds us what to base our faith on. “That your faith might not rest in the wisdom of men but in the power of God.” That is recorded at I Corinthians 2:5.
Whether the government leader is or isn’t the one you or I voted for, we are ordered by God to pray for them. “I urge you, first of all, to pray for all people. Ask God to help them; intercede on their behalf and give thanks for them. Pray this way for kings and all who are in authority so that we can live peaceful and quiet lives marked by godliness and dignity.” That is at I Timothy 2:1-2.
No matter who is elected president, God is in control. Happy living in this assurance.
Doug Johnson
President
Proverbs 21:5 The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.
We began our discussion of saving money for long-term goals last month with Steps 1-4. Our aim is to trade stress over financial uncertainty for the peace of mind from having a plan to reach our long-term financial goals. Now, let’s look at the remaining steps:
Side Note: You should consider seeking input from a financial advisor concerning how to diversify and spread your investments across different asset classes with stocks, bonds, real estate, and mutual funds. Proper diversification can help reduce risk while enhancing long-term returns based on your individual comfort level (or lack thereof) for risk taking.
I said this was a 7-Step process, but once we’ve made our plan here are two follow-up steps.
Be disciplined and patient. Once we make a plan, stick to the plan. Having a plan will help us to avoid impulsive financial decisions and stick to our plan despite changes in the economy and markets. It helps us to stay focused on our objectives and remind ourselves of the long-term benefits of consistent saving and investing.
Regularly review our plan. It is also good practice to consistently review our financial progress and adjust our savings and investment strategies as needed. Life circumstances, market conditions and financial goals may change over time, requiring adjustments to our plans. I would suggest reviewing our plan at least annually.
Helping you make a financial plan, sticking to the plan, and periodic reviews to make changes as necessary are just a few of the many financial services Guaranty can assist you with. With our many services, we can be your one-stop shop for your financial needs. Feel free to visit us to find out how we can help you map out your route to financial success.
Shannon McDowell, JD, CTFA
Vice President & Trust Officer
Without counsel plans fail, but with many advisors they succeed. Proverbs 15:22
What is an RMD & does it affect me?
RMD’s (Required Minimum Distributions) are the minimum amounts that the IRS generally requires you to withdraw from your pre-tax retirement accounts. If you reached age 73 during 2023 and have a Traditional IRA, SEP IRA, SIMPLE IRA, SARSEP IRA, Rollover IRA, 401(k), 403(b) or a 457(b), you are required to take a distribution for that year. To ensure that you are not penalized by the IRS, make sure you have your RMD’s set up. For any questions concerning your RMD’s please call the GSB Financial Resource Center toll free at 888-738-4429.
Your Bank (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for those referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Guaranty State Bank & Trust Co and GSB Financial Resource Center are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using GSB Financial Resource Center, and may also be employees of Guaranty State Bank & Trust Co. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, GSB Financial Resource Center or Guaranty State Bank & Trust Co. Securities and insurance offered through LPL or its affiliates are: Not Insured by FDIC or Any Other Government Agency, Not Bank Guaranteed, Not Bank Deposits or Obligations, May Lose Value.