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June Anniversaries

These employees have reached the following milestones this month, and we celebrate and appreciate their longevity with us. Congratulations!
Doug Johnson – 50 Years, Dennis Shoemaker – 30 Years, Susan Flinn – 20 Years, Mary Sprague – 20 Years, Grant Davis – 4 Years, Steve Fyler – 1 Year.

Because Life Is More Than Money

All people need Jesus. They need a relationship with Him and His salvation. None of us can live forever without Jesus. None of us can do all the good for others that we are capable of without Jesus. The Bible from cover to cover tells us that Jesus is an absolute necessity for us. Some of us get that truth and live it out. Some unknowingly try to do life without Jesus. Some intentionally do life without Jesus. Some live like they merit Jesus’ salvation. No matter which, the truth and reality remains – we all need Jesus!

I want to have the attitude of the tax collector in this story that Jesus told and is recorded at Luke 18:9-13. “Then Jesus told this story to some who had great confidence in their own righteousness and scorned everyone else: ‘Two men went to the Temple to pray. One was a Pharisee, and the other was a despised tax collector. The Pharisee stood by himself and prayed this prayer: ‘I thank God, that I am not like other people-cheaters, sinners, adulterers. I’m certainly not like that tax collector! I fast twice a week, and I give You a tenth of my income.’ But the tax collector stood at a distance and dared not even lift his eyes to heaven as he prayed. Instead, he beat his chest in sorrow, saying, ‘O God, be merciful to me, for I am a sinner.’’”

Another aspect of this that challenges me is when God seems to be calling me to befriend a person with an attitude like the Pharisee in Jesus story. I would rather be friends with the tax collector type. The hard lesson is all persons need a friend who is a follower of Jesus. Whether that person thinks they are high and mighty and “Jesus is lucky to have me on His team” or the person is humble and doesn’t hide that they are sinners like the rest of us.

Happy befriending others in Jesus’ name.

Doug Johnson
President

Waiting Longer to Retire

Ephesians 2:10 We are God’s handiwork, created in Christ Jesus to do good works, which God prepared in advance for us to do.

Except for two blips, since 1991 the long-term trend has been an increase in the age the average American retires.  There are several reasons for this.  One is significantly negative, but the others are much more positive.  Let’s take a look at why this is happening.

Let’s get the bad one out of the way first.  Living longer and, mostly, healthier lives can be a double-edged sword.  If careful planning is not made during our working years to financially provide for our retirement years, we may have no choice but to work longer to support ourselves as we age.

Second, there are distinct financial benefits of continuing to have an income as we age.  Our retirement accounts can continue to grow.  Generally, those last few years of growth are the most significant years of growth.  Also, as we discussed several months ago, our social security payments will markedly increase every year we wait to start taking them until age 70.

Third, wise people learn from their failures; even wiser people learn from the failures of others.  The amount of experience in our work as we age can be a great asset for our businesses.  With age really does come wisdom.  We have had more opportunities than our younger counterparts and family to experience the best teacher of all: our failures.  Learning from the School of Hard Knocks is often what has led to our successes.  With this experience we can mentor our younger co-workers and family to help them be even more successful than ourselves.  To do that, we have to “stay in the game.”

Finally, for many people their work is what gives them purpose and motivation.  We were created to do good works.  Our workplace and our families are the places where we most often do those good works.  In turn, those good works give us purpose and motivation.  For many of us, jobs have pulled our families long distances away where we don’t have the daily opportunities to do good works for them.  But our jobs, whether they be on the farm or ranch, or in town, still provide us with a place to help those around us.

One concept which is new to my mind is that of slowing down instead of retiring.  It is simply a fact of life that, as we age, our stamina and strength are not what they were when we were in our prime.  That does not mean we have to stop…but it may mean we need to slow down or change what we do.  Numerous studies have shown continuing to work later in life has many physical and mental health benefits.

If you have questions about how slowing down as you get older instead of retiring can financially impact your life for the better, we would be happy to sit down with you and help you develop a financial plan for your later years.

Shannon McDowell, JD, CTFA
Vice President & Trust Officer

Without counsel plans fail, but with many advisors they succeed. Proverbs 15:22

 

 

I invite you to share your dreams with us. Successful retirement planning should reflect an understanding of the risks you face, how to balance your income and expenses, how and when to make withdrawal choices, and appropriate allocation and diversification of your investment portfolio. With proper planning and solid investment strategies and techniques, help you work towards making your ideal retirement a reality. Call the GSB Financial Resource Center at 888-738-4429 to schedule a time to discuss your dreams.

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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. 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 Deposit or Obligations | May Lose Value