Financial News and Articles with Gary Cates in Bloomington IL | Thrivent

Insights

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Did you know? Nearly 60% of small businesses have no succession plan. (Source: Walden University) Imagine building a thriving business… and one unexpected event changes everything. Before 2026 hits, ask yourself: ✅ Do I have a tax-smart exit strategy? ✅ Is my business ready for transitions? ✅ Am I building wealth for myself too? 💡 Quick Tip: Review your business insurance and key-person coverage before year-end, it’s one of the easiest ways to protect your hard work. Your business isn’t just numbers, it’s your legacy. 💬 What’s your #1 priority for 2026? 👉 DM me to talk about planning strategies for the new year. #SmallBusinessPlanning #BusinessStrategy #SuccessionPlanning #TaxSmart #FinancialPlanning #BusinessOwnerTips #PlanAhead2026 #LegacyPlanning #EntrepreneurLife #BusinessGrowth Source URL: https://www.waldenu.edu/programs/business/resource/top-five-reasons-every-business-should-have-a-succession-plan For important information, visit thrivent.com/disclosures

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📋 Small business owners & self-employed professionals, before you wrap up 2025, here are a few planning points that could help set you up for success: ✅ Review retirement plan options (SEP IRA, Solo 401(k)) ✅ Check contribution limits for HSAs and other accounts ✅ Evaluate year-end purchases that align with your business goals ✅ Make sure your financial plan reflects both short-term needs and long-term growth These aren’t one-size-fits-all, but they might help improve efficiency and keep your plan on track. 💬 What’s one financial question you’ve been meaning to ask before year-end? Drop it in the comments or send me a message...I’d love to help you think it through! 📌 See thrivent.com/disclosures for important disclosures

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🚗💨 Is your retirement on cruise control...or on the shoulder? Think of retirement like a road trip. 🛣️ You wouldn’t start a long drive without checking the gas ⛽, tires 🛞, and map 🗺️...so why start retirement without a plan? Ask yourself: -Are your savings enough to reach your destination? 💰 -Are unexpected expenses accounted for? 🏥📊 -Are you using every “shortcut” to make your money last longer? ✨ -A quick pit stop now can make sure your journey is smooth, no SURPRISES ahead! 🛑 💬 Where do you see your retirement journey right now....smooth highway or a bumpy road? See thrivent.com/social for important disclosures.

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💸 Your business might be leaking profits, and you don’t even see it. Most owners focus on revenue growth but miss the hidden drains: -Taxes quietly eating your cash flow -Inefficient benefit plans -Idle money that could be working harder I help business owners find the leaks and use the right tools to plug them...protecting your income and building long-term wealth. No pressure, just a 30-minute conversation. Worst case: you see where money is slipping away. Best case: we patch the leaks and your dollars start working smarter. 👉 Message me to grab a spot. See thrivent.com/social for important disclosures.

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💭 Roth Conversions: Pay Now or Pay Later? Uncle Sam always gets paid… the real question is when...and how much. 🧾 Roth conversions can be a powerful tool in your retirement game plan. But timing and strategy are everything. 👀 In Q3 and Q4, you still have time to: ✅ Fill lower tax brackets ✅ Shift taxable income ✅ Potentially reduce RMDs in retirement But here’s the kicker, not everyone benefits from a conversion, and there’s no one-size-fits-all. 🔍 Curious on learning more? Let’s break it down with your full picture in mind...not just numbers in isolation. #PlanAhead #TaxEfficiency #RetirementPlanning See thrivent.com/social for important disclosures. State tax rules may differ from federal rules governing the tax treatment of Roth IRAs and there may be conflicts between federal and state tax treatment of IRA conversions. Consult your tax professional for your state's tax rules.

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Yeah… didn’t think so. 😅 Most retirees unknowingly keep the IRS as one of their biggest beneficiaries...simply because they didn’t plan ahead. The truth? ⬇️ 🔹 Tax brackets 🔹 Required withdrawals 🔹 Timing of income …all work against you if you’re not proactive before retirement hits. 📆 Q3 is a smart time to start looking ahead, while you still have options. Let’s talk strategy now so your future self isn’t writing checks you could’ve avoided. 📍No pressure, just clarity. Let’s find a tax-smart approach together. See thrivent.com/social for important disclosures. 📌 #RetirementRundown #TaxSmartRetirement #PlanAhead

🚗 Is Your Financial “Car” Protected from Unexpected Bumps? 🚧 You wouldn’t drive your car without insurance — so why risk your income without protection? Nearly 1 in 4 people face a disabling injury or illness before retirement, and a short-term disability can seriously impact your cash flow and financial goals. Just like you wouldn’t ignore a “check engine” light, it’s smart to review your income protection options early — like disability insurance — to keep your financial journey running smoothly. Don’t wait until the road gets rough. Protect your income and keep your future on track. See thrivent.com/social for important disclosures.

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Thank you to the men and women who gave their lives to protect our freedom. Let’s honor their sacrifice today and every day.

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Sending love and gratitude to all the moms and mother figures who made us who we are today. Happy Mother’s Day!

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Happy Easter to you and your family! Hope your day is filled with celebration and special moments.

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Spreading love can be as simple as sharing a warm smile or a kind word. Happy Valentine's Day.

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Purchasing life insurance for children can help protect their future in a variety of ways. Learn more: https://bit.ly/3XV0A4Y

A guide to charitable giving strategies & their tax advantages

A guide to charitable giving strategies & their tax advantagesThere are ways you can help maximize tax benefits when giving. Learn more about different charitable giving strategies and their tax advantages.

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Today we recognize the life and leadership of Dr. Martin Luther King Jr. What acts of service can you do in your community to honor his legacy?

How to start an emergency fund—the right way

How to start an emergency fund—the right wayPlanning ahead for emergencies can help reduce your stress as they happen. 💡 Here are tips to start an emergency fund.

Living within your means: What it is & how to do it

Living within your means: What it is & how to do itTrying to get your finances on track? Learn more about healthy financial habits you can start doing today to avoid overspending and live within your means. ⬇️

How to save more money in 2025: Tips, goals & accounts you can use

How to save more money in 2025: Tips, goals & accounts you can useMake a plan to thrive in 2025 👏

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Happy New Year! Wishing your family a very blessed 2025.

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Merry Christmas to you and yours! Hope your day is filled with special moments and all your favorite traditions. 🎄

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Happy Thanksgiving! Enjoy your day and give thanks for the blessings in your life.