Ideal Wealth Advisors's LTM E-Newsletter

Craig Lundquist and Kristin Becker photo

Craig Lundquist, MBA, ChFC^®, CRPC^®

VP of Wealth Management

craig.lundquist@lpl.com

651-773-2757

Kristin Becker

Senior Administrative Assistant

kristin.becker@lpl.com

651-773-2821

Ideal Wealth Advisors

Located at Ideal Credit Union

8499 Tamarack Road

Woodbury, MN 55125

CRPC conferred by College for Financial Planning

May/June 2025

Exploring Fixed Income

Investors nearing retirement typically move more funds into income-generating vehicles like bonds. This asset class encompasses a few different types of investments. Here's a look at some of them:

Diversify Your Investments

Mutual funds* and exchange-traded funds* (ETFs) are both baskets of individual securities that offer a variety of asset classes and niche markets that can help investors diversify** their portfolios. There are differences between them, however, that could make one option preferable for a particular investor.

Do You Need a Trust?

While trusts are often complex, they offer high net worth families and individuals tax advantages and more control over how their assets are distributed to future generations. One of the more common and effective trusts used to accomplish these twin goals is an AB trust, which is also known as a credit shelter or bypass trust. This type of trust begins as a revocable trust, when you can make changes, and ends as an irrevocable trust.

Work Together on Your Finances

It's not unusual for couples to have varying interests. But when it comes to your financial life, it is important to be on the same page.

Investing in Real Estate

If you're looking for another way to diversify* and grow your wealth, consider some of the most popular avenues in real estate investing.

Time for Your Insurance Audit

Summer is around the corner and wind, rain and firestorms will follow. Even if you understand the need for protection like property and health insurance, you may find yourself uninsured or underinsured for certain events.

Major Reasons Gen Z and Millennials Have Life Insurance

Here are five reasons why Gen Z and Millennials utilize life insurance.

How Much to Invest in a HSA

While more people are using Health Savings Accounts (HSAs) to help pay for rising healthcare costs, many of them are not familiar with the investing options they may have available to them. Should you put all your money into a cash option or into more aggressive 401(k)-plan types of investments? A lot depends on your health.

Balancing Saving for College an Retirement

Summer vacation is almost here. How many more summers until you have a graduate heading off to college? It always comes faster than we'd like. So does retirement. Will you be ready? When it comes to choosing between saving for a child's college education or saving for retirement, which one should be the priority?

The Work Opportunity Tax Credit Extended

Hiring people with significant barriers to entering the workforce could earn a tax credit for your business. The credit is for each qualifying hire and is available through the Work Opportunity Tax Credit (WOTC), which was extended through 2025.

Play the Long Game

As a successful business owner, you're obviously a hard worker. The time and effort you've invested in your business are paying off. But with so much to do, it is often difficult to plan for your financial future. If you haven't already done so, you might consider putting in place certain strategies that use business dollars to fund insurance and retirement benefits.

ABCs of HSAs

Although health insurance deductibles and other out-of-pocket costs continue to rise, one good thing has come out of this recent turmoil: Health Savings Accounts (HSAs). Consider taking advantage of this tax-saving opportunity to pay healthcare bills.

Estate Planning: More Than a Will

Your will is a basic estate planning document that specifies how you want your assets distributed when you die and names a guardian for any minor children. Additional essential documents most people should have include: a financial power of attorney, which gives someone the ability to make financial decisions for you, and a health care proxy, which designates another person to make health care decisions on your behalf, when you are not able to do so yourself.

May is Older Americans Month

A Presidential Proclamation designates May as the month for honoring older people in our communities. It can also serve as a reminder to ask older relatives about their health and finances. Consider talking with loved ones about:

Misconceptions Holding Young Women Back

Despite inroads working women have made in recent years, according to the American Association of University Women (AAUW), on average, they still earn 16% less than men — 84 cents for every $1 a male counterpart earns. The gap is wider for working mothers.

A Generation-Skipping Trust May Be a Smart Move

This unique trust allows you to transfer assets to beneficiaries two or more generations younger than you — your grandchild or great-grandchild, for instance (or anyone else at least 37.5 years younger than you) — in a tax-advantaged way.

Act Now to Avoid Retirement Savings Mistakes

Successful retirement planning takes more than simply putting money away in a tax-advantaged retirement plan account. It also includes periodically asking yourself these critical questions to avoid common retirement missteps:

Choosing a Health Savings Account

Health Savings Accounts (HSAs) are unique in that besides helping you manage healthcare costs effectively, they also offer triple tax advantages: Contributions are tax-deductible, growth is tax-free, and withdrawals for qualified expenses are tax-free.

A Rope or Quicksand?

With today's home prices, you may be considering helping your child with a down payment for their first home. It's a generous gesture that can be just the pull-up they need. But the decision shouldn't be taken lightly. Without forethought, a financial windfall of this amount might sink some offspring into a hole of bad financial decisions. Here are some things to think about:

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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. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:

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