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Francis LLC

At Francis, we are proud of our conflict-free business model because it means American workers get to keep more of their hard-earned retirement savings.

Helping America's workforce achieve Work-Life-Money Balance with conflict-free retirement plan consulting and sales-free, workplace financial wellness services. Investment advisers with asset-based fees and retail wealth management services are conflicted. These conflicts have been demonstrated to increase fees, lower investment performance, and cost American workers $17 billion a year.* In an ind

ustry that’s out of balance, you can count on Francis to remain conflict-free to protect American workers, and their money.

12/18/2024

As the year draws to a close, it’s the perfect time to take stock of your financial health. Creating a year-end financial statement is a great way to understand where your money went this year, set goals for the coming year, and envision where you want to be in the years ahead.

Here’s how you do it:

1) INVENTORY YOUR FINANCIAL ASSETS --> Review the year-end balance of the following accounts...

--- Bank statements (include checking, savings, and any other accounts)

--- Investment accounts (gather records of 401(k)s, IRAs, brokerage accounts, or other holdings),

--- Loan statements (include mortgages, car loans, student loans, or personal loans),

--- Pay stubs or income records (account for all sources of income, including side gigs).

2) LIST LIABILITIES --> Account for what you owe...

--- Debt balances (list all credit card balances and interest rates),

--- Loans (record amounts owed on mortgages, car loans, or student loans),

--- Outstanding bills (include medical bills or any unpaid taxes).

3) SUBTRACT YOUR LIABILITIES FROM YOUR ASSETS TO DETERMINE YOUR NET WORTH.

Once you’ve calculated net worth, review trends and analyze where things are going. Is your net worth increasing or decreasing? Continue to calculate your net worth each year to see how the decisions you make each day are gradually helping you to build wealth over the long term.

08/21/2024

Last week, the team said goodbye to the office betta fish (and mascot), Vinnie 🐟

Macy brought Vinnie into our lives in February, and as Kevin said in his beautiful goodbye speech, "Whether it was during a stressful conference call or a quiet afternoon, we could always count on Vinnie to be there, gliding through his giant watery kingdom, reminding us to take a deep breath and keep swimming."

Though Vinnie was a betta, he will always be alpha in our hearts 💜

Coming later this week: a sorority

08/14/2024

Francis had a fantastic time hosting a table at Ashley Furniture Company's Family Day this past Saturday! 😎

Financial Planners, Kelli Send, Jamie Rybak, and Elizabeth Aidoo, were all hanging out, giving away fun prizes and treats, and connecting with our awesome clients.

Thanks so much, Ashley Furniture, for inviting us to this incredible event and championing your employees' financial wellness!

08/08/2024

Francis has officially become a member of the Defined Contribution Institutional Investment Association (DCIIA)!

DCIIA is a nonprofit institution dedicated to enhancing retirement security for plan participants across the nation and fosters a dialogue among the leaders of the defined contribution community who are passionate about this work.

Elizabeth Aidoo, our Director of DEI & Servicios en Español, will be serving on their Advisor Institute Council - a collaborative of advisors from across the industry that helps connect DCIIA's Retirement Research Center's work to the day-to-day lives of participants.

We're very excited to collaborate with industry leaders and be involved in this industry-shaping work!

07/26/2024

To HELOC or not to HELOC? That is the question.

With home prices on the rise in many parts of the country, the equity in your home may have increased as well. With social media ads and your financial institution encouraging you to tap into this equity, you might wonder if opening a HELOC makes financial sense.

A HELOC, or Home Equity Line of Credit, is a secured loan that uses your home's value as collateral, allowing you to borrow against your home equity. People often use a HELOC for home improvements or debt consolidation.
According to Investopedia, "Home equity loans have been around for nearly a century." However, in the 1980s, the term "second mortgage" was rebranded to avoid its negative connotation, and the HELOC became widely advertised by banks.
Tapping into your home equity can be an easy way to finance home improvements, but there are important considerations. Home equity lines of credit typically have a variable interest rate and may require a minimum amount to be borrowed, often starting at $5,000. This variable rate can be risky, especially if interest rates rise, leading to unpredictable payments and potential shifts in your budget.
An alternative approach, which can be more cost-effective but requires planning, is to set aside a portion of your home's value each year for maintenance and expenses. For example, saving 1% annually on a $250,000 home would mean setting aside $2,500 per year. If these funds go unused, they can accumulate for larger purchases, such as new gutters or a new roof, minimizing the need for borrowing.
A practical way to save this money, especially for W2 employees, is to automate the process through payroll deduction. For example, if you are paid weekly, you could set aside approximately $48 per week into a dedicated home expenses fund, at year’s end you’ll have close to $2,500. This “set it and forget it” savings approach helps ensure you have the necessary funds for home maintenance without needing to rely on a HELOC.

07/12/2024

There is no microwave in your financial kitchen.

I know, that sounds like the kind of sentence that might escape the lips of your crazy uncle after too much egg nogg on Christmas eve, but it carries with it the key to your financial success.

Living in America, we are used to getting what we want when we want it; it is built into our DNA. Recall the last time you had to sit longer than 5 minutes in a fast-food line. Remember how impatient you were? Never mind the fact that the restaurant was frantically assembling a Big Mac meal deal for you, a salad for your spouse, and happy meals with toys for each of your kids. In those terms, 5 minutes seems pretty quick.

The same can be said for your various financial priorities. You want to have a nest egg that will provide income for the length of your retirement. You want to have an emergency fund that will cover six months of expenses. You need to use a budget and get out of debt. All of these require one common ingredient – time.

Creating a budget takes time. The first time you build a budget with spending targets you will fail. You will undershoot some categories and overshoot others. This is common. Don’t throw up your hands in frustration. You are changing lifelong spending habits. Adjust your numbers, reevaluate your goals, and modify your behavior gradually to get within your goals.

Building an emergency fund takes time. If you want 6 months of net expenses saved but can only devote 10% of your income for savings, it may take you two or three years to get to your goal. Be patient. Enjoy each month your emergency fund is bigger than the last.

Getting out of debt takes time. You probably didn’t get into debt overnight; you won’t get out overnight. With the added friction of higher interest rates, it will take time to climb out. Set up automatic bank payments to cover your minimum payment due. Then direct all available cash flow freed up by your budget to pay down your debt. Be patient. Enjoy each month that your debt balance is lower than the last.

Building a nest egg takes time. How many times have you heard your financial planner tell you to start early? Don’t wait to start, even if you can only contribute a little due to other financial priorities. Start saving what you can, then gradually increase your contribution rate over time.

So, what does your financial kitchen have?

It does have a recipe; this is your budget. It gathers and guides all the ingredients of your financial plan. Follow it closely.

It does have measuring spoons; these are all the contributions you make to your accounts, and the payments you make to your debt. Add just the right amount of each priority.

It does have a mixer; this is the allocation of all your asset types. Blend it well.

And it does have an oven. Throw your plan in the oven, set the timer, and go enjoy life while your plan bakes.

Bon Appetite!

06/28/2024

Why Are Bond Funds Performing So Poorly?

Conservative investors have long valued the relative stability of bond funds over stocks. So, the decline in the value of both stock and bond funds in 2022 may have come as a surprise. However, the real shock for most has been the rapid recovery of stocks while bond funds remain in negative return territory.

While markets rallied into the end of 2021, 2022 brought the war in Ukraine and a surge of inflationary pressures which collectively sank equity markets. Concurrently, the Federal Reserve started raising interest rates to stop the inflationary run-up, and not just a little bit, but significantly over several months.

Since bond yields and prices move in opposite directions, higher interest rates make the yields on existing bonds less attractive. This rapid increase in the Fed Funds rate, therefore, is what caused bond funds to decline in value, and it is what is keeping them down today.

It's important to understand that these are not permanent losses. Over time, the decline in capital appreciation should be recovered by increased income from higher yields in bonds. However, this recovery will take time. Patience is key, as the bond market gradually adjusts to the new interest rate environment.

If these events caught you off guard, perhaps it’s time you met with your financial planner for an investment check-up.

06/20/2024

As summer approaches, we all start dreaming about lazy days by the pool, weekend barbecues, and fun vacations. But before you dive into relaxation mode, there's one more thing you should consider doing: taking a Financial Health Day. It might not sound as exciting as a beach day, but dedicating a day, or even a few hours, to tackle important financial tasks can significantly enhance your peace of mind and set you up for a stress-free summer.

First, let's talk about your 401(k). If you haven't looked at your retirement savings in a while, now is a great time to do it. Increasing your 401(k) contributions, even by a small percentage, can make a huge difference over time. Plus, if your employer offers a match, you're essentially getting free money. Who doesn’t love that?

Next on the list: subscriptions. We all have them—those pesky automatic payments that sneak out of your account each month for services you barely use. Take a moment to review your bank statements and identify any subscriptions you can cancel. Whether it's a streaming service you rarely watch or a gym membership you haven't used in months, cutting these out can save you a surprising amount of money.

Now, if you have kids or are planning to, setting up a college savings plan is another crucial task. The earlier you start, the more time your money has to grow. Look into options like a 529 plan, which offers tax advantages and can be a smart way to save for future education costs.

Finally, use this day to review your budget, pay off any lingering debts, and check your credit report. These steps may seem small, but they add up to a big impact on your overall financial health.

Taking a Financial Health Day might not be as fun as a day at the beach, but it's an investment in your future that can make your summer (and beyond) much more enjoyable. So, put on some comfy clothes, brew a nice cup of coffee, and get to work. Your future self will thank you!

06/14/2024

How to Purchase Your New Home

As we roll into the midpoint of the year, we are now entering the busiest time of year for the U.S. housing market. As you prepare to attend showings and make offers, consider the following seven steps to help get you from dreaming to walking through the front door of your next home:

1. Determine Your Budget: Before you start looking at homes, you should determine how much you can afford to spend. Consider your current income, expenses, debts, and credit score. You should also factor in additional expenses such as closing costs, property taxes, homeowners insurance, and maintenance costs. Typically, your upper limit for these expenses is 28% of gross income.

2. Get Pre-Approved for a Mortgage: Getting pre-approved for a mortgage can help you determine how much you can afford to spend on a home and can also make your offer more attractive to sellers. Shop around and compare rates and terms from different lenders to find the best deal.

3. Find a Real Estate Agent: A real estate agent can help you find properties that meet your criteria and negotiate the best deal for you. Look for an agent with experience in the area where you want to buy and who has a good reputation.

4. Shop for Homes: Use online listings and your agent's resources to find homes that meet your needs and budget. Visit open houses and schedule private showings to get a feel for the properties you are interested in.

5. Make an Offer: Once you find a home you like, make an offer that takes into account the market value of the property, any repairs or upgrades that may be needed, and your budget. Your agent can help you negotiate with the seller to get the best deal.

6. Complete Inspections and Appraisals: Once your offer is accepted, you will need to have the property inspected by a professional inspector to identify any issues that may need to be addressed. You will also need to have the property appraised to ensure that it is worth the amount you are paying.

7. Close the Sale: If everything checks out and your financing is in order, you will need to sign a purchase agreement and close the sale. This involves paying closing costs and signing a mortgage agreement with your lender.

Remember, buying a home is a big investment and it's important to do your research and make informed decisions throughout the process. If you’re wondering how much is too much when it comes to your housing budget, reach out to financial planners at Francis to give you a game plan that will keep your housing costs in check. Visit francisway.com to get started.

06/07/2024

Let's delve into the world of budgeting, which, let's be real, isn't always a walk in the park. It often involves resisting the urge for instant gratification, and that's no easy feat. But hey, here's a clever strategy: ever considered introducing a bit of friction into your budget? It's like setting up little hurdles to prevent impulsive spending on things you might not really need. You could automate transfers to your savings, opt for cash instead of cards, or simply wait a bit before splurging on big-ticket items. Take, for instance, implementing a 24-hour rule on purchases. See something you fancy? Wait a full day before hitting that "buy" button. By creating this barrier, you give yourself a chance to reconsider and possibly channel those funds towards what truly matters to you. Because at the end of the day, that's what budgeting is all about: ensuring you have the resources for what truly counts in your life.

For help creating and sticking to a budget reach out to one of the Francis Financial Planners using the Francis LLC app or your participant portal. They’ve got great tips to keep you on track to reach your money goals.

05/31/2024

When you think about retirement, it’s easy to get caught up in the numbers game—savings, investments, budgets. But there’s a whole other side to retiring that's just as crucial, and it's all about how you're going to live, not just how you'll pay for it.

Think about it. After decades of the daily grind, suddenly you have no meetings, no deadlines, just a wide-open schedule. It's both exciting and a bit daunting. Finding a new sense of purpose becomes key. Maybe there’s a passion project you’ve shelved for years or a hobby you’ve wanted to dive into. Now’s the time! And these aren’t just fun ways to fill your time—they keep your mind sharp and your spirits high.

Staying active is another big piece of the retirement puzzle. It’s not just about keeping busy, but really engaging with life. You could join a local club, start a garden, or even get into yoga. It's all about keeping your body moving and feeling good.
And don’t underestimate the power of hanging out with others. Retirement can feel lonely without your usual work crowd, so it’s crucial to keep up with old friends and make new ones. Whether it’s through community gatherings, regular outings with friends, or volunteer work, staying social is a lifeline during these years.

Speaking of volunteering, giving back is not only good for those you help but it’s incredibly rewarding for you, too. It keeps you connected to the community and gives you a worthwhile way to spend your time. Plus, using your skills for a good cause? That’s just icing on the cake.

Never stop learning either. Ever wanted to learn Italian or take up painting? Many places offer classes just for retirees, so you can explore any interest without the pressure of exams or grades. Keeping your brain engaged like this is a great way to ward off the mental cobwebs.

So, as you plan out your retirement finances, remember to plan for your life too. Balancing your budget is important, but so is filling your days with joy and purpose. Here’s to your next chapter being just as fulfilling, or even more so, than your working years!

05/24/2024

We’ve all felt the pinch at the grocery store since COVID, according to CBS News “supermarket prices are now 25% higher than in January 2020”. Below are spending tips that can help your wallet when shopping.

Tip 1 – Use Cash Instead of Plastic

Studies have shown that when you use cash, you're less likely to overspend compared to when you use your card. If you walk into the grocery store with $200, you've already mentally set your budget. If you exceed it at the cash register, you'll have to decide whether to return an item to stay within your budget. On the other hand, if you're using a credit card with a $1,500 limit, you might be more inclined to add extra items without much thought.

Tip 2 – Make a Grocery List

Creating a grocery list helps you keep track of what you need. Having a list gives you a roadmap of your necessities. Without one, those Keebler cookies or a six-pack of Spotted Cow might seem more tempting. It's not to say you shouldn't buy these items, but if they weren't on your list initially, purchasing them becomes an impulse buy, increasing your overall spending.

Tip 3 – Order Groceries for Pickup or Delivery

Grocery delivery services like Instacart can be a game changer and have made grocery shopping more convenient. While you may incur additional costs such as tips and delivery fees, you're also saving valuable time by avoiding trips to the store. Moreover, if you have small children, you won't have to worry about those little hands sneaking extra items like boxes of Capri Sun or sweets into the cart.

Tip 4 – Consider Shopping at Aldi or Wholesale Stores

If you've ever shopped at Aldi, you're familiar with the need for two things: reusable bags and a quarter. Aldi passes on cost savings to consumers through these measures. Additionally, Aldi carries many non-brand name items that you may not find at larger grocery stores, further contributing to your savings.
Shopping at wholesale stores like Costco or Sam's Club could be a viable option, especially for large families. These stores offer bulk household essentials such as toilet paper, paper towels, laundry, and dish soap, as well as certain grocery items. Plus, you'll often get the bonus of sampling new items they offer.

Please Note: Bigger quantities cost more and can bust the budget.

Address

19435 W Capitol Drive
Brookfield, WI
53045

Opening Hours

Monday	8am - 5pm
Tuesday	8am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	8am - 5pm

Website

http://www.francisway.com/

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