When I was 13 years old, I wanted to learn how to play the drums. I didn’t just want to play the snare drum alone, that’s boring. I wanted to rock out on the whole kit! When I first sat down and tried to play a full drum beat, it was overwhelming – how in the world am I going to get all my limbs doing different functions and actually have it sound good? The music teacher just told me to take a small step of practicing just 10-15 minutes a day. I started with just playing the hihat with my right hand and played that for a while until my brain put it on “auto-pilot” of sorts. Then I could add in the bass drum with my right foot. When playing the hi-hat and bass drum together started to become comfortable, I finally, after a bunch of tries, got the snare drum added with my left hand. I was playing a full beat! While I didn’t wake up a recording artist the next day, it was amazing how the small step of playing 10-15 minutes a day helped me achieve my goal! When we meet with new clients, they often share that their goal is to save enough money while working so that they can retire. We often hear, “how much should I be saving for retirement to be “on track?” While that prompts more questions like – how old you are now, what age do you want to retire, how much do you want to spend in retirement, will you earn some income in retirement, etc, a good number to target is at least 15% of your gross income. Why 15%? A recent study by Fidelity showed that if individuals invest 15% of their gross income into retirement, they can retire or stop having to earn an income at 67. A few questions might be coming to your mind right now….

1.) I have been investing, but I don’t know what percentage I have been using. How do I know if I am on track?

That same study by Fidelity shows a glidepath (in the chart below) for how much you should have saved by different ages to retire by 67. For example, by age 45, they suggest having 5x your income saved for retirement. By 50, 6x your income saved. How did they get to those numbers? They took 15% of the investors salary over their working years and added in an 8% growth rate.

https://www.fidelity.com/viewpoints/retirement/how-much-do-i-need-to-retire

2.) The second question on your mind might be - I know I am behind.

If you are behind, we would likely recommend saving more than 15% to start catching up. It is certainly easier said than done! Cutting back a little spending now so you can invest more goes a long way with the power of compound growth. There are a lot of ways to “catchup” - employer-sponsored plans, individual retirement accounts, HSAs, brokerage accounts, and insurance products. If you are 50 and over, the government allows some options for making additional catchup contributions for some employer-sponsored plans and Individual Retirement Accounts in a tax-deferred or post-tax manner. Depending on your income, it might make sense to make those retirement investments in a before tax or after-tax manner. Would you benefit from knowing what small steps make the most sense for you right now? Let’s chat. Wherever you are on your retirement journey, taking small steps towards your goal leads to big results…over time

Securities and Investment Advisory Services offered through M Holdings Securities, Inc., a Registered Broker/Dealer and Investment Advisor, Member FINRA/SIPC. Rose Street Advisors, LLC is independently owned and operated. File # 5595458.1

Jeremy Heavey

AIF ® | FINANCIAL ADVISOR

Jeremy is passionate about partnering with individuals and families to identify what is important in their lives and creating a comprehensive financial strategy to help them reach their life goals. This holistic approach allows Jeremy and the wealth management team to ensure the specific needs of the client are front and center as they make investment recommendations and collaboratively design custom-tailored financial plans. Jeremy has a professional track record starting, leading, and managing for-profit and non-profit organizations. He is a graduate of Taylor University and has completed business programs at both Hong Kong Baptist University & Harvard Business School. Jeremy is also formally trained and certified in behavioral assessment, conflict management and life coaching. Jeremy, his wife Kim and their 4 kids reside in Kalamazoo. They love spending time exploring the outdoors, fixing up their farmhouse, and living life with friends and extended family. Fun fact: Jeremy has been playing drums since he was 13 years old and made callbacks for the Blue Man Group.

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In June of 2020, our family was on the hunt for a large vehicle that could fit our 4 growing kids and tow our camper. We found the perfect late model Yukon XL posted by a private owner on Facebook Marketplace in Chicago. After a test drive, inspection and asking questions about it, it seemed to check out, drive well and had lower miles and a better price than others we saw online. On the way home to Michigan from Chicago, the check engine light started blinking…when a light blinks, that is usually not a good thing. We immediately pulled over and had the car scanned to learn the reason for the blinking and learned…the transmission was going out. Yikes. Apparently, the car had to warm up more than a 20-minute test-drive to present the problem. We called the person we bought it from to get some context and he replied, “We sold it as is. We gave you a good deal on it.” Yikes. We have purchased many cars over the years and never had this experience. When we meet with new clients, we often get questions like, how much should I be saving on a regular basis? Certainly, each client’s situation is unique and requires a different strategy, but a great number to shoot for is 10% of your gross income into a high-interest savings account. Why?

1. It prepares you for when the unexpected happens.

You never know when an unexpected expense pops up. It is also great to have savings because unexpected opportunities (deals on a vacation spot, a chance to see your favorite sports team, etc) might pop up. Having the money in a separate account typically takes 3 business days to get into your account, causing you to really consider whether you want to spend the money before calling in the reserves!

2. It protects you in the event that you lose your income.

We like to see clients have 4-6 months of their bare-bones expenses saved. If you lose a job, it allows you the opportunity not to rush into taking the first job that comes your way because you can live off your own savings – paying yourself. When you calculate bare bones expenses, include your housing, food, car payments, insurances – car insurance, health insurance, homeowners, life insurance and other basic expenses.

Securities and Investment Advisory Services offered through M Holdings Securities, Inc., a Registered Broker/Dealer and Investment Advisor, Member FINRA/SIPC. Rose Street Advisors, LLC is independently owned and operated. File # 5492217.1

Jeremy Heavey

AIF ® | FINANCIAL ADVISOR

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You may have read about the SECURE Act 2.0 that passed in late December as part of the Consolidated Appropriations Act. This is the most extensive retirement plan legislation we have seen in years. The main objectives include increase the availability of retirement plans, help people save more, streamline retirement plan rules, and help individuals preserve income in retirement. The SECURE Act 2.0 has a plethora of provisions, some major and some minor; some mandatory and some optional; some retroactively effective and some won’t be effective for years to come. And some with unanswered questions. Below are the provisions we believe to be the most impactful and it’s now time to begin planning. However, there is a lot more guidance we need from the IRS and Department of Labor before we can fully give analysis of the nearly 90 provisions and how they may impact you as an individual investor on a day-to-day basis. If you are a participant in an employer sponsored plan, guidance from record keepers and plan administrators is also required on how several provisions will be implemented. Now it’s time to begin planning for provisions currently effective along with those slated for the coming years. Our list of the most impactful provisions listed by effective date is as follows.

Effective Immediately - 2023

• New exclusions to the 10% early withdrawal penalty - qualified disaster, qualified birth or adoption and terminally ill • Employee may self-certify hardships • Employers may permit Roth match • Required Minimum Distributions (RMD) bumped to Age 73 • Simple and SEP Roth contributions allowed

Effective 2024

• Tax & Penalty Free Rollovers from 529 to Roth IRA - capped at $35,000 and account must be opened for 15 years. • If earning > $145k, catch up contributions must be Roth (Note: a significant technical error in bill, if not fixed, would eliminate the ability for 401(k) participants to make catch-up contributions in 2024. Treasury Department have been altered) • IRA catch-up of $1,000 begins to index with inflation • Employer may match student loan payments • No RMD for Roth 401(k) and 403(b) • Retirement Savings Lost and Found • New exclusions to 10% early withdrawal penalty - Emergency Distribution of $1,000 AND Domestic Abuse

Effective 2025

• Catch up contributions increased for savers ages 60-63

Effective 2026

• New exclusions to 10% early withdrawal penalty - Qualifying Long Term Care Insurance Premiums

Effective 2027

• Refundable Savers Credit - max of $2,000 for low-income savers. Credit deposited into retirement savings.

Effective 2033

• RMDs bumped to Age 75 We continue analyzing the provisions and will share comments as guidance is received. In the meantime, please reach out if you have questions.

The tax and legal references attached herein are designed to provide accurate and authoritative information with regard to the subject matter covered and are provided with the understanding that Rose Street Advisors is not engaged in rendering tax, legal, or actuarial services. If tax, legal, or actuarial advice is required, you should consult your accountant, attorney, or actuary.

Rose Street Advisors does not replace those advisors.

Securities and Investment Advisory Services Offered Through M Holdings Securities, Inc. A Registered Broker/Dealer and Investment Adviser, Member FINRA/SIPC. Rose Street Advisors, LLC is independently owned and operated. File #: 5442889.1

Scott Higgins

AIF®, CFP®, CPFA® | Financial Advisor

Since 2012 at Rose Street, Scott has been responsible for helping the firm’s individual wealth management clients with income strategies for retirement and consulting with employers with their employee retirement plans. In free time, he enjoys golf, biking, skiing, cooking, and traveling. Fun fact, Scott has a hobby of filling growlers with coins!

Jeremy Heavey

AIF® | Financial Advisor

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Can you picture your last day of work? What will you be feeling? What will you be thinking? What will be the look on your face when you leave work for the last time? My dad, John W Heavey, started as a firefighter on Sept 3, 1974 and worked hard for 33 years until he retired at the top of his game as Fire Chief on Sept 3, 2007. The picture above is on his last day as Fire Chief. From delivering babies, cutting people out of crushed cars, pulling people out of houses on fire, providing fire safety instruction to kids in schools, putting on SCUBA gear for water rescues, buying fire trucks and leading teams, he made a big impact! What an awesome career! While he was working, he was also emotionally, vocationally, and after meeting with a financial advisor, financially preparing for retirement. On his last day, he was content, grateful and confident, looking forward to the last day of work and the FIRST DAY of the rest of his life. He is now continuing his impact and legacy while enjoying his 16th year of retirement.

When we meet with clients, we often hear, “Do I have enough? How much should I be saving? Where should I be saving - should I just put my money in a target retirement fund? When can I retire? When should I take Social Security?” When you get to your last day, can you IMAGINE waking up with a grateful, humbly confident smile, knowing that you have worked hard and made a difference, AND are also financially prepared; ready to tackle that next season?

When we guide our clients through the Rose Street Advisors’ 7 Step Financial Life Planning Process, we have heard that they feel more confident, energized about the direction they are headed financially and have more peace, knowing a CLEAR path forward. Our team loves to FIGHT for our clients, developing plans and tax-efficient strategies to maximize every dollar they own. Are you over 50? Are you nearing retirement and would appreciate the confidence that comes from a complimentary review on your current financial life? Our team just kicked off Jan 2023 making a few tweaks to a client’s financial strategy and was grateful to share with the client that the changes would add hundreds of thousands of dollars to their net worth. It would bring us great joy to roll up our sleeves alongside you to develop a plan for the FIRST DAY of the rest of your life.

Securities and Investment Advisory Services Offered Through M Holdings Securities, Inc., a Registered Broker/Dealer and Investment Advisor. Member FINRA/SIPC. Rose Street Advisors is independently owned and operated. #5434779.1

Jeremy Heavey

AIF ® | FINANCIAL ADVISOR

Jeremy has a professional track record starting, leading, and managing for-profit and non-profit organizations. He is a graduate of Taylor University and has completed business programs at both Hong Kong Baptist University & Harvard Business School. Jeremy is also formally trained and certified in behavioral assessment, conflict management and life coaching. Jeremy, his wife Kim and their 4 kids reside in Kalamazoo. They love spending time exploring the outdoors, fixing up their farmhouse, and living life with friends and extended family.

Fun fact: Jeremy has been playing drums since he was 13 years old and made callbacks for the Blue Man Group.

4. Alphabet Inc. Class A (GOOGL)

5. Alphabet Inc. Class C (GOOG)

6. Tesla, Inc (TSLA)

7. Berkshire Hathaway Inc. (BRK.B)

8. Johnson & Johnson (JNJ)

9. UnitedHealth Group (UNH)

10. NVIDIA Corporation (NVDA)

Source: https://www.slickcharts.com/sp500 This information is for general and educational purposes and not intended as legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Information obtained from third-party sources are believed to be reliable but not guaranteed. Investors cannot invest directly in indexes. The performance of any index is not indicative of the performance of any investment and does not take into account the effects of inflation and the fees and expenses associated with investing. #4823893.2 Securities and Investment Advisory Services Offered Through M Holdings Securities, Inc., a Registered Broker/Dealer and Investment Advisor. Member FINRA/SIPC. Rose Street Advisors is independently owned and operated.

Scott Higgins

AIF ® CFP ® CPFA ® | FINANCIAL ADVISOR

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Let Us (Re)Introduce Ourselves

To the many friends of Rose Street Advisors, As we embrace this new year, we are more committed than ever to living out our core values and our mantra "What We Do and How We Do It Matters". Enjoy this glimpse into the people and the heart of Rose Street Advisors from the team themselves. With humble appreciation for our clients and our people,

Rob Hunt

LIC, CLU | PRINCIPAL & CHIEF EXECUTIVE OFFICER

As Principal and CEO, Rob spearheads the vision, drive for growth, and pursuit of excellence at Rose Street Advisors. Rob loves being outdoors with his wife Erin and kids. He has slalom skied for the past 35 years, never missing a season. He also enjoys spending time at the lake and on the golf course.

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