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Welcome to our blog. Here you can find views on the financial world and keep updated on the latest news.


With a long time passion for personal finance, Jonathan Henkels loves waking up every day with the opportunity to help others achieve their financial and life goals.  With a background in education, Jonathan believes in making certain that you not only have a plan that gets you where you want to go, but that you also understand why.  He listens to your goals and wishes, maps out a thorough financial plan tailored to you, and helps you keep the plan in motion so you can reach your financial and life goals.

Don’t Sabotage Your Finances

Don’t Sabotage Your Finances

How to avoid being your own worst enemy when it comes to your money and long term goals.

We all want to be better off, right?  Ideally, we would always make decisions that result in our best interest and help us reach our goals.  However, I think we know that isn’t always true.  Sometimes people sabotage themselves – eating that extra doughnut, hitting the snooze button when we are supposed to work out, letting Netflix keep playing the next episode, the list can go on and on.  Why we do this usually has to do with short term wants over long term well-being.   

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Are Traditional 401(k) Plans Obsolete?

Are Traditional 401(k) Plans Obsolete?

Given the new tax rules and rates, it may be time to reconsider your retirement plan options

There are many financial rules of them (don’t spend more than you earn, save 20% of your income, etc.) with one of big ones being to put money away in a pre-tax 401(k) if your work offers one.  The main incentive to do so is that these accounts have tax advantages – some of your earnings go in tax free, it grows tax free, and you then pay taxes later when you take withdrawals at hopefully a lower rate.

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Is Your Homeowners Insurance Strong Enough?

Is Your Homeowners Insurance Strong Enough?

Your home is often the most valuable thing you own; not only for sentimental reasons, but just for the sheer dollar amount.  I am guessing that while the vast majority of you have homeowners insurance, people often do not know or understand the coverage they have.  In some cases, this can be costly if a claim is made later.  Here are a few things to review in your homeowners’ policy that are common points of confusion.

 

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Why the SECURE Act Makes Life Insurance More Attractive

Why the SECURE Act Makes Life Insurance More Attractive

With the new restrictions for inherited IRAs for non-spouses due to the new SECURE Act, it may make sense to use life insurance as an estate planning tool.

With the passing of the SECURE Act last year, there is a significant change to inherited IRAs for non-spouses.  Rather than withdrawals being taken over the course of the recipient’s life, they must now be taken fully over 10 years.  This can cause creation of a higher tax burden as this money counts towards the income of each beneficiary.

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Retirement: Why to STAY in Chicagoland

Retirement: Why to STAY in Chicagoland

Many people consider moving when retiring.

 If you live Chicago or its suburbs, it may be a good idea to stay put.

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Three Things You Need to Know About the Equifax Settlement

What happened?’

In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories.

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