DOGE’s most recent initiative to end identity verification over the phone, which was set to take effect March 31st, and had been pushed back to April 14th is now being reversed entirely. The primary misconception was that ALL Social Security services would require online or in-person verification. This is incorrect. The policy required online or…

Legacy Trust Chief Investment Officer Steve Doorn shares what has changed since the April 2nd announcement and why markets have reacted so negatively to the news, along with some key considerations for portfolios during these uncertain times.

Excited to share this insightful conversation between Brian M. Balke, CFP®, CIMA® and our President & CEO, Tracey Hornbeck! In this interview, Tracey highlights what makes Legacy Trust unique, the exceptional services we offer, and the incredible team we’ve assembled. She also discusses our deep commitment to the community and our vision for the future.

2024 ended the year with continued outperformance by the S&P 500, marking the first instance of back-to-back years of 20%+ returns since 1998/1999. The first quarter of 2025 has told a different story as investor sentiment has waned. Risk-off sentiment has been driven by concerns around macro softening and punctuated by volatile trade tariff headlines.…

During his campaign newly elected president Donald Trump proposed a range of ambitious and significant economic policies, signaling a bold new direction for the US economy.  Markets are mainly concerned about three key areas: Tariffs, Taxes and Deregulation.  So, what can we expect to happen after January 20th? Tariffs are coming back.  One of the…

The Roth IRA is a great retirement savings vehicle. It provides an option to avoid taxes upon withdrawal for those who have utilized one. However, given its relatively recent creation, some retirees did not have ample time to contribute to Roth IRAs or were above the income phaseouts to contribute. This has led to some…

October 31st is near and here at Legacy Trust headquarters we take Spooky Season very seriously.  While advisors and clients alike have enjoyed the ‘treats’ of strong equity market returns in both calendar year 2023 and year-to-date 2024, a word of caution about ‘tricks’ that may be looming. Data through market close 10/25/2024 We acknowledge…

Properly estimating the baseline cost of a retirement lifestyle and how to fund it is vital to success, however; the work does not stop here. To do this thoroughly, one needs to prepare for the inevitability of something going wrong. The common concerns for retirees come in the form of spending shocks like long-term care,…

Steve Doorn has been featured in the Crain’s Grand Rapids Business Wealth Management Guide for his article on; Why Target Date Strategies Miss The Mark. Check out the full Wealth Management Guide Here: https://www.crainsgrandrapids.com/wealth-management-guide-2024/ The saying “if it seems too good to be true, it probably is” could easily apply to target date strategies. Take…