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The Savage Blog
In Employee News, Financial Planning, Investments, Savage News, Savage Team

Savage’s Frisch named to national advisory board

Curtis Frisch

Curtis Frisch, ChFC®, CFP®, Savage, has been named to the NextGen Advisory Board of the wealth management firm, Osaic Wealth. The 12-person board functions as a forum for financial professionals under age 45 to foster communication, strengthen relationships, solicit feedback, and advance the next generation by offering unique perspectives on industry trends through webinars, online networking, white papers, and more.

“We are thrilled Curtis was selected to this highly-impressive group of young professionals,” stated Russ Karban, ChFC®, CFP®, AIF®, vice president and managing executive, Savage and Associates. “He has outstanding knowledge and forward thinking, which will lend very well to the board.”

Osaic Wealth is part of Advisor Group, one of the largest networks of independent wealth management firms in the nation.

Located in Savage’s Findlay, Ohio, office location, Frisch has a Bachelor of Applied Science in Health Services/Allied Health/Health Sciences from Bowling Green State University. He and his wife, Breanna, have two sons, Harrison and Miles.

The Savage Blog
In Employee News, Insurance, Savage News, Savage Team, Working at Savage

Savage hires two area graduates

Savage and Associates announced the addition of two associates to the team – both with close ties to northwest Ohio. Lauren Hehl-Myers and Kirby McLoughlin will assist clients with saving, risk management, group health and protecting assets.

“Savage is excited to add new, energetic talent to our company,” said J.R. Toland, president and CEO, Savage and Associates. “We know Lauren and Kirby very well from their experience in our internship program last year, and we’re excited to keep them a part of Savage for years to come.”

Hehl-Myers, a Toledo native, attended Bowling Green State University, where she graduated this year with honors, achieving her bachelor’s degree in business administration with a specialization in finance.

Originally from Monclova Township, McLoughlin graduated from The University of Toledo this spring, completing his bachelor’s degree in business administration as well, majoring in finance.

Hehl-Myers and McLoughlin are neither registered, nor affiliated, with Osaic Wealth, Inc.

The Savage Blog
In Employee News, Savage News, Savage Team, Working at Savage

Savage recognized with community impact award

Savage and Associates has been named the recipient of the Maumee River Award from the Maumee Chamber of Commerce during their 46th annual Hometown Hero awards banquet.

“We are so grateful for this acknowledgment, especially knowing the impressive list of past recipients to receive this prestigious award,” stated J.R. Toland, president and CEO, Savage and Associates. “On behalf of our 130+ associates, we are humbled by this great honor.”

The award is presented to a company or organization that is making a tangible, measurable impact in the Maumee community through activities such as job creation, workforce development, volunteer efforts, board service, philanthropic support, or innovative business models that promote social goals.

Photo: Kristin Meyer (left), executive director, Maumee Chamber of Commerce, presents the nominations and letters of support from various businesses and organizations throughout the Maumee area, to J.R. Toland, president and CEO, Savage.

The Savage Blog
In Employee News, Savage News, Savage Team, Working at Savage

Savage hires five college students for summer program

Savage and Associates has hired five college students with northwest Ohio roots to join the advisor internship program this summer which provides formal training, access to mentors, opportunity to acquire professional licenses, and other valuable experiences.

Joining the program are the following students:
• Anna Brubaker – student from The University of Toledo, majoring in finance and minoring in professional sales (top left)
• Ryan Christie – student from The University of Toledo, majoring in finance and information systems (top middle)
• Jason Drees – student from The University of Toledo, majoring in finance and professional sales (top right)
• Chandler Fitzgerald – student from Pensacola Christian College, majoring in business management (lower left)
• Shawn Old – student from Ohio University, majoring in international business and business analytics (lower right)

“It is our honor, and long standing tradition at Savage, to work with some of the best and brightest students so they can begin their professional careers immediately after graduation,” stated J.R. Toland, president and CEO, Savage and Associates. “It’s a win-win for everyone involved, and we look forward to seeing them grow with us.”

Along with working to acquire their life and health license, the students will learn some of the basic risk products, meet regularly with industry experts, learn the importance of ensuring clients are well rounded in their portfolio of bank accounts, investments and insurance, as well as progress in several areas to enhance their industry knowledge. The internship program runs through mid-August.

Students interesting in learning about the advisor internship program should contact Liz Harmon, recruitment and practice development manager, Savage and Associates, at 419-725-7211 or [email protected].

The Savage Blog
In Insurance

The importance of preparation

We hear the word, “prepare,” in some form, quite often from clients.

“I wish I had better prepared.”

“Can you tell me how I can prepare for the future?”

… and so on.

It is not uncommon when something as catastrophic as a pandemic leaves the world thinking more and more about some basic necessities of life that are sometimes overlooked – and wishing they had prepared. COVID-19 has heightened our awareness in many ways. Many can lay claim to knowing someone who contracted the virus, whether a family member, friend, co-worker, etc. Maybe it was even our own first-hand experience!

It has turned the focus of many toward life insurance.

It is such an important piece in life, which also happens to be one of the services at Savage that is seeing an exponentially increased awareness.

There are those who think they are covered sufficiently through their life insurance policy at work. The reality is that may not always be enough.

In a study published in 2020 by LIMRA (an organization that helps 600+ insurance/financial services companies across 73 companies increase marketing effectiveness), and Life Happens (nonprofit providing information to consumers to help make smart insurance choices) held a study just last year. Some fascinating statistics:

  • Nearly a quarter of American households do not have coverage, and another 30 million do not have enough. (That’s roughly half of all households!)
  • The average coverage gap between what people have, and what they need, is about $200,000.
  • About 44 percent of households said they would face financial hardship within six months if the primary wage earner were to die prematurely. For 28 percent of households, financial hardship would hit within one month.
  • More than half say they haven’t purchased life insurance because they don’t know how much they need or what type to buy.
  • Six in 10 Americans say they have a heightened awareness of the importance of life insurance due to COVID-19.

    Kevin Baumeier

While these are alarming statistics, there is good news. Almost 30 percent of adults are more likely to buy life insurance over the next year. Are you one of them?

It’s more inexpensive than people realize, and to make life easier, we even accept e-signatures to ease the process.

If you already work with a financial professional at Savage, reach out to them for their insight. If not, and you would like to speak with someone about life insurance, contact Kevin Baumeier, CLU®, manager of risk services, at 419-725-7243, or [email protected].

Kevin Baumeier is not registered with Osaic Wealth, Inc.
The Savage Blog
In Employee News, Savage News, Savage Team

Savage leader honored with Pacemaker Award

J.R. Toland, president and CEO, Savage and Associates, was presented (virtually) the Pacemaker Award by the University of Toledo’s College of Business and Innovation. The award is the college’s highest honor, recognizing individuals for outstanding achievement in business, as well as contributions to the community and the University.

“We are proud to honor J.R. Toland as a Pacemaker, the criteria for which is ‘outstanding achievement in business or profession and service to The University of Toledo area,’” stated Anne L. Balazs, Ph.D., dean, The University of Toledo College of Business and Innovation. “Mr. Toland joins a long line of distinguished men and women from the Toledo area who are making a difference through their contributions to the community. This award dates back to 1963 and Mr. Toland is another shining example of an ethical and successful leader – a Pacemaker to celebrate!”

Toland joined the financial services firm in 1984, was named to the management team in 2000, and selected as a partner in 2012.

He is actively involved in his professional and local communities. He was recently chosen to serve on the board of Finseca upon the merger of AALU and GAMA (Association for Advanced Life Underwriting, and General Agents and Managers Association International), and is a lifetime member of the Million Dollar Round Table. He serves on the board of the YMCA of Greater Toledo, and previously was board chair for the Multiple Sclerosis Society and Central Catholic High School. In addition, he coached youth football for more than 15 years.

Toland earned his Bachelor of Business Administration degree from the University of Toledo in 1985. He has been married to his wife Beth for 31 years. They have four adult children, Nikki, Troy, Halli and Scott.

Qualifying membership in the MDRT is based on minimum sales production requirements and gross business generated within a year. Lifetime membership is achieved in the 10th year and this status is maintained in future years by attesting annually to having met current minimum production levels and by paying the required dues. Third-party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client’s evaluation.
The Savage Blog
In Employee News, Savage News, Savage Team

Savage names new partners

Vision statement on entranceway wall

Savage announced today the addition of new partners to our firm. Each with more than 20 years of experience with Savage, the new partners include:

  • Tony Desch, financial advisor
  • Jason Elchert, financial professional (Findlay)
  • Matt Holzemer, employee benefit consultant
  • Gary LeSage, certified financial planner
  • Steve Milewski, financial advisor
  • Steve Morr, financial professional
  • Pat Paule, employee benefit consultant (Bowling Green)
  • Lou Ramirez, investment advisor representative
  • Mark Smith, financial advisor

Savage sought to create a new structure that would create viability for a more robust future for the company. Just as the firm expanded from insurance to securities four decades ago, group benefits shortly after, added mortgage services nearly 20 years ago, and entered an exciting era when the new headquarters was completed in January 2019, evolution has taken place at numerous other milestones throughout the 64-year history.

The change ensures a bright outlook with continued advancement and progress in all facets of the firm.

“As Savage continues to grow, we have an even brighter future ahead as this partnership and relationship with these seasoned and very well respected professionals in our industry ensures the legacy of our firm will thrive for another 60 years,” stated J.R. Toland, president and CEO, Savage and Associates. “This is an exceptionally talented group of individuals, each with unique skills sets and areas of expertise, who will help us continue to provide great value to our clients. This partnership ensures that our independent firm, remains just that – independent years into the future just as we have been since our start in 1957. The partnership creates consistency, broadens the ownership structure, and helps us preserve the strength and future of the firm.”

Together, the new partners provide an extensive list of services and products to clients across the nation including specialization in investment and wealth management, trust and estate planning, financial wellness, tax planning, life insurance, retirement plans, employee and individual benefits, and more.

They join current partners, J.R. Toland (Savage President and CEO), Phil Johnson, Russ Karban, Kelly Savage, Mark Smigelski, Joel Tschantz, and Scott Walsh.

The Savage Blog
In Employee News, Savage News, Savage Team, Working at Savage

High five! Savage named a 2021 top workplace for fifth year in a row

Savage has been named one of the region’s top workplaces for the fifth consecutive year by the Toledo Blade.

Additionally, the company received a specialty award for exhibiting superior values.

“Savage is delighted to receive this honor for the fifth year in a row,” stated J.R. Toland, president and CEO, Savage and Associates. “I am so proud of our team of more than 120 associates, across four locations, as they carried on with such dedication and optimism amid the ongoing pandemic. Our continued growth is due to having so many high-caliber, energetic people that simply love serving others.”

Being named a top workplace is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage, LLC. The Blade partnered with Energage to conduct the anonymous survey that uniquely measures 15 drivers of engaged cultures that are critical to the success of any organization, such as alignment, execution, and connection.

“In times of great change, it is more important than ever to maintain a connection among employees,” said Eric Rubino, Energage CEO. “When you give your employees a voice, you come together to navigate challenges and shape your path forward based on real-time insights into what works best for your organization. The Top Workplaces program can be that positive outcome your company can rally around in the coming months to celebrate leadership and the importance of maintaining an employee-focused culture, even during challenging times.”

Savage has offices in Maumee, Bowling Green, Findlay and Glandorf, Ohio.

Third-party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client’s evaluation.
The Savage Blog
In Financial Planning, Retirement Plans, Saving

Will you have enough, when you’ve had enough?

Retired couple walking dog

“How much money will I need in retirement?”


It’s a question we get asked often, from people in all age groups, professions, income levels, and geographical locations. And from people with diverse spending habits.

Of course, lots of people stand ready to share a formula or fixed-target amount they’ve heard. One recent study found that average Americans believe they’ll need $1.7 million to retire. Another often-mentioned opinion suggests you’ll need 80 percent of your pre-retirement annual earnings after retiring.

But there is no cut-and-dry answer to the question. Therefore, our response when people ask us how much they’ll need for retirement is not what most expect to hear.

“You tell us,” we say.

The fact is, how much money you need for retirement depends on the lifestyle you want when you retire. And that requires asking yourself some questions.

Do you want to live in your current home, downsize, or move to a more pleasant climate? Are you planning to drive a similar car or splurge on that rebuilt 60s classic you’ve always wanted? Are you looking to travel more often and, if so, to where?

And those are the easy questions. Harder discussions involve how you plan to pay for healthcare, at what age you will begin drawing Social Security benefits, who else depends on your income, and how much debt you still have.

Only with answers to those and many more issues could we begin to project how much money you’ll need to set aside for retirement. So don’t be surprised when a professional financial advisor responds to your how-much-money-will-I-need-in-retirement inquiry with a list of questions for you.

The good news is that collecting answers to those questions enables your financial advisor to help you begin budgeting for retirement. So while we can’t provide a one-size-fits-all solution to determining how much you’ll need when you stop working, we can help prepare you to answer the question for yourself.

Talk to Steve

Prepared by The Creative Block, Inc. Copyright 2020.
The Creative Block, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual’s personal circumstances.
To the extent that this material concerns tax matters, is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
The Savage Blog
In 401(k), Financial Planning, Investments, Retirement Plans, Saving

What are catch-up contributions, and should you be making them?

Man review finances on tablet

Man reviewing finances on tablet

If you’re among the millions of Americans putting money into a workplace retirement plan, you probably know that IRS rules limit annual tax-deferred contribution amounts. For example, 401(k) and 403(b) participants can set aside a maximum of $19,500 in income on a tax-deferred basis in 2020. But if you’re age 50 or older, you could be eligible to contribute amounts that exceed the standard IRS limitations.

Catch-up contributions, as the name implies, allow workers to save more tax-deferred income as they get closer to traditional retirement age. Allowable catch-up amounts vary depending on the type of retirement plan. For our 401(k) or 403(b) example, the catch-up amount is $6,500 in 2020.

Catch-up contributions only extend the amounts workers can contribute to their plans each year. They do not increase employer-match limits.

The IRS updates annual contribution limits each year—including catch-up contribution amounts—for each type of retirement plan. A professional financial advisor can explain the rules that apply to your specific account to you.

Should you get in on this?

If you’re 50 or over and looking to grow tax-deferred savings for retirement, and you already max out your plan’s limits each year, making catch-up contributions might be right for you.

On the other hand, if a large portion of your retirement savings is in tax-deferred dollars, you could be facing a sizable income-tax burden when you retire and begin taking plan distributions. In that case, there might be better retirement savings options for you than increasing your tax-deferred contributions.

Because everyone’s financial needs and objectives are unique, we can’t over-stress the importance of consulting a trained financial advisor when planning for retirement. A qualified professional can help forecast whether you’re saving enough for the retirement lifestyle you want—and help you determine if you have any “catching up” to do.

Talk to Steve

Prepared by The Creative Block, Inc. Copyright 2020.
The Creative Block, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual’s personal circumstances.
To the extent that this material concerns tax matters, is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
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