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Physical and Fiscal Fitness in 2015

January 21st, 2015

IMG_4420The New Year always brings new resolutions; maybe you want to quit smoking, eat a healthier diet or lose weight, but regardless of what you resolve to do differently in 2015, every resolution takes a certain level of commitment and some resolutions require a professional or team of professionals to ensure you stay on track. This month we sat down with two Hive members who happen to be partners and founders of Pro Medicus Wealth Management: Josh Heims and Kurt Fetter, to get their take on staying fiscally and physically fit in 2015 and beyond.

Heims and Fetter are professionals at achieving and maintaining fiscal “fitness”. They shared three of their expert strategies for Physicians across WNY to attain financial success in 2015 and into retirement.

1. By adding a Profit Sharing component to your partnership’s 401k plan, you may be able to put away additional retirement dollars and lower your taxable income this year. If you already have a profit sharing plan in place, consider a Cash Balance plan to allow for additional Tax-Deferred retirement savings in 2015.
2. By using beneficial tax strategies that come from the proper purchase and management of life insurance, you can put away savings dollars now that will grow tax-deferred for as many years as you need to eventually be withdrawn tax free in retirement.
3. Consider converting some of your 401k/IRA assets into a ROTH IRA. Most of our Physician clients cannot contribute to ROTH’s due to income limitations imposed by the IRS, however, there are no rules placed on conversions. We use strategies that help drastically lower the large tax bill associated with conversions.

Q & A

While Heims and Fetter realize the importance of fiscal “fitness”, they manage to stay on top of their physical fitness as well. We asked them a few questions about their active lifestyles, here’s what they had to say:

IMG_4414 Q: Have you always been active, and into fitness?

A: (Josh) Yes. I was an athlete when I was younger and that competitive drive has carried me through my career and life. I’ve been involved in lacrosse and skiing since high school and in turn, exercise has become a habit for me.
A: (Kurt) I’ve also been athletic my entire life. We both believe that if we aren’t healthy we can’t do anything else in life and that no matter what you have to take care of your body first.

Q: Why did you choose Hive as your gym?

A: (Josh) It’s not your typical big box gym, it’s clean, quiet and easy to maneuver.
A: (Kurt) There’s something for everyone at hive, it’s not like any other gym in the area.

Q: What is your favorite way to exercise?

A: (Josh) I like non-traditional workouts like rock climbing, and skiing, where fun is involved. If I had to pick a favorite body part to work out I’d choose shoulders.
A: (Kurt) I work out with Liz, a personal trainer at hive, and we do a lot of full body workouts, which I really like. When I’m outside of the club I snowboard, run and cycle.

Please consult a professional before attempting to employ any of the strategies mentioned above. Securities offered through United Planners Financial Services Member: FINRA, SIPC. Joshua Heims and Kurt Fetter are Registered Representatives of United Planners.

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