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May Newsletter 2023

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Parable Financial Network


Parable Financial Network
Jan Clark
501 Gloucester St
Suite 205
Brunswick, GA 31520

May Flowers Newsletter

What Is God’s Calling for Mothers?

What Is God’s Calling for Mothers?

Have you ever felt, as a Mom, that maybe God just doesn't get what you are going through? How exhausting a day can be?


Isaiah 40:11 says, "He tends his flock like a shepherd: He gathers the lambs in his arms and carries them close to his heart; he gently leads those that have young." These tender words affirm that God sees the work that we are doing in our homes is seen and valued by our loving God. He promises to lead us on this wild ride of motherhood gently!


Here are a few places from the Bible that help show us what God is calling us towards as Moms:


1. Motherhood Is a Gift

Psalm 127:3 "Children are a gift from the LORD; they are a reward from him."


2. Motherhood Is an Honor

Proverbs 31:28 "Her children arise and call her blessed; her husband also, and he praises her."


3. Mothers Are Teachers

Proverbs 22:6 "Train up a child in the way he should go and when he is old he will not depart from it"


4. Motherhood Is Work

Proverbs 31:27 "She watches over the ways of her household, And does not eat the bread of idleness."




Time for a Spring Cleanup: Organizing Your Financial Records

The arrival of spring is always a good time to dust off the cobwebs that have built up in your home during the winter. It's also a good time to clean out and organize your financial records so you can quickly locate something if you need it.



Keep Only What You Need


If you keep paperwork because you "might need it someday," your home office and file cabinets are likely overflowing and cluttered with nonessential documents. One key to organizing your financial records is to keep only what you absolutely need for as long as you need it.


Tax records. Keep all personal tax records for three years after filing your return or two years after the taxes were paid, whichever is later. (Different rules apply to business taxes.) If you underreported gross income by more than 25% (not a wise decision), keep the records for six years, and for seven years if you claimed a deduction for worthless securities or bad debt. It might be helpful to keep your actual tax returns, W-2 forms, and other income statements until you begin receiving Social Security benefits.


Financial statements. You generally have 60 days to dispute charges with banks and credit cards, so you could discard statements after two months. If you receive an annual statement, throw out monthly statements once you receive the annual statement. If your statements include tax information (e.g., you use credit-card statements to track deductions), follow the guidelines for tax records.


Retirement account statements. Keep quarterly statements until you receive your annual statement; keep annual statements until you close the account. Keep records of nondeductible IRA contributions indefinitely to prove you paid taxes on the funds.


Real estate and investment records. Keep at least until you sell the asset. If the sale is reported on your tax return, follow the rules for tax records. Utility bills can be discarded once the next bill is received showing the previous paid bill, unless you deduct utilities, such as for a home office.


Loan documents. Keep documents and proof of payment until the loan is paid off. After that, keep proof of final payment.


Insurance policies. Keep policy and payment documents as long as the policy is in force.


Auto records. Keep registration and title information until the car is sold. If you deduct auto expenses, keep mileage logs and receipts with your tax records. You might keep maintenance records for reference and to document services to a new buyer.


Medical records. Keep records indefinitely for surgeries, major illnesses, lab tests, and vaccinations. Keep payment records until you have proof of a zero balance. If you deduct medical expenses, keep receipts with your tax records.


These are general guidelines, and your personal circumstances may warrant keeping these documents for shorter or longer periods of time.


Personal Document Locator


A personal document locator is a detailed list of your personal and financial information that can assist others in the event of your death or disability. Typically, a personal document locator will include the following:


A personal document locator typically includes personal information (e.g., date of birth, Social Security number); names and phone numbers of personal contacts; names and phone numbers of professional service providers (e.g., banker, physician, attorney, tax preparer, financial professional); online accounts, with usernames and passwords; and the location of important legal and financial documents.


Securely Store Your Records


You can choose to keep hard copies of your financial records or store them digitally. You usually do not need to keep hard copies of documents and records that can be found online or duplicated elsewhere. Important documents such as birth certificates and other proof of identity should be stored in a safe place, such as a fire-resistant file cabinet or safe-deposit box. You can save or scan other documents on your computer, or store them on a portable drive, or use a cloud storage service that encrypts your uploaded information and stores it remotely.


An easy way to prevent documents from piling up is to remember the phrase "out with the old, in with the new." For example, if you still receive paper copies of financial records, discard your old records as soon as you receive the new ones (using the aforementioned guidelines). Make sure to dispose of them properly by shredding documents that contain sensitive personal information, Social Security numbers, or financial account numbers. Finally, review your records regularly to make sure that your filing system remains organized.


Bank Failures Shine Light on Interest Rate Risks


Financial markets reacted turbulently to the collapse of Silicon Valley Bank (SVB) on March 10, 2023, followed two days later by the failure of Signature Bank of New York. With $209 billion in assets and $175 billion in deposits, SVB was the nation’s 16th largest bank and the second largest to fail in U.S. history.1-2



This news was alarming to savers who worried their own bank accounts could be at risk and investors who feared a wider financial crisis. To help restore confidence in the U.S. financial system, the federal government pledged to make all depositors whole and to support other banks that might face liquidity issues stemming from the rapid rise in interest rates.3


These events have drawn new attention to how banks operate and the risks they take to earn money on customer deposits, as well as the government’s role in regulating and supervising bank activities.



In calendar year 2023, the maximum allowable contribution amount to your IRA account for those under 50 years old is $6500. For those 50 years older and older, you qualify to add an additional $1000 using the “catch-up provision”, bringing your total maximum contribution amount to $7500 for calendar year 2023. While these amounts will apply to practically everyone, there are some exceptions, so be sure to check with us to review your situation.


Why is this information important to you? We're sure you have noticed that inflation has caused everything we buy to increase in price. Imagine what prices will be when you are ready to enter retirement! When it comes to your money, it is always better to have more than less. Let us share a couple of illustrations with you.


We are using a future value calculator Future Value of a Monthly Deposit Calculator ( (found on the internet) to determine the numbers.


Illustration #1. Assume a 30-year-old with a $10,000 current value, contributing $200/mo., earning a 10% average annual return, retiring at age 67 would give a value of $1,338,051 at retirement age. Now increase only the monthly contribution to $300/mo. The retirement value would be $1,807,917. But now assume maximizing the contribution to $541/mo. and the value at retirement would be $2,940,295.


Illustration #2. Assume a 50-year-old with $30,000 current value, not contributing any additional money at all, earning 10% average annual return, retiring at age 65. This person would have $133,617 at retirement. Now, it this person contributes the maximum allowable amount without the “catch-up provision”, they would have $359,714. However, using the additional $1000 “catch-up provision”, they would have $395,820.


Don’t let your inability to contribute the maximum amount to your IRA keep you from increasing what you can.


The ability to retire is, when you get right down to it, based more on the amount of your nest egg rather than the generally accepted age basis.



Among the lessons of the recent financial crisis is the need for virtually everyone - young and old - to acquire a basic knowledge of finance and economics.


- Ben Bernanke, Former Chairman of the Federal Reserve


These magazine-style flipbooks provide helpful information on a variety of financial topics and illustrate key financial concepts. Click below for Financial Management Insight-Strategies to Help Build Your Future.


At our firm, we have the client—and only the client—in mind.


Our mission is to get to know and understand your needs, wants, and long-term goals. We want to help you develop, implement, and monitor a strategy that’s designed to address your individual situation.


We understand the challenges families face today.


From managing debt to saving for college to retirement, these personal finance challenges can be overwhelming. Our commitment is to utilize all of our resources to help you pursue your goals.


We believe in thinking “out of the box” and we are not afraid to challenge conventional wisdom in our approach to investing and preserving wealth. All of our energy, commitment, and efforts are focused on you, the client, and your satisfaction.


PFN is a Kingdom focused organization that strives to serve others in all areas of talent maximization. PFN seeks to cultivate trust by deepening relationships, resolving concerns and reducing fear. Those that serve here will do so with intentional integrity and with open accountability.


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Many Blessings!!

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Check the background of this financial professional on FINRA's BrokerCheck