Mike Hunsberger, ChFC® and
Next Mission Financial Planning
in the News
That kind of community connection is what Michael Hunsberger is banking on to help launch his brand new advisory firm, Next Mission Financial Planning. Hunsberger launched his firm Nov. 1, the same day he retired after 25 years in the Air Force.
“Some of what I was looking for was flexibility and the ability to do my own thing,” he said. “I looked at my situation and figured my retirement benefits will help provide some cushion while I build a business.”
In essence, Hunsberger is living the kind of advice he hopes to impart on other veterans.
“It’s important to understand your VA benefits and how the transition to civilian life works,” he said. “Think about how you’re going to use your last leave before getting out, and then think broader than that you just have to go to work right away.”
The goal of a long-term oriented, diversified portfolio is to be able to weather short-term market gyrations. Making short-term moves based on the day’s latest headlines is typically a way to lose money. While some commentators are calling for higher energy prices based on the situation in Ukraine, crude oil has seen a significant increase recently so the market may have already reacted to the concern. When clients ask about the situation in Ukraine or inflation or any other news headline, I tell them they’re well-diversified and the best action is to stay the course and not try to time the market. I also explain that if we have a negative market reaction, they will be buying at cheaper prices which will help when the market recovers.
Before and after official stock-market trading hours, there may be fewer buyers and sellers in the market. If price is the outcome of supply and demand, that may warp a share price during this point in time.
“The volume of trading in the after-hours market is a fraction of what it is during the general market hours. This can lead to significant price distortions,” said Mike Hunsberger, owner of Next Mission Financial Planning in St. Charles, Mo.
When It Makes Sense To Wait
Financial planner Mike Hunsberger of Next Mission Financial Planning says there are two main scenarios where he might advise his clients to push off filing their taxes. The first one comes into play if clients owe additional money on their taxes this year. “When that is the case, I suggest clients get their returns prepared but not submit them until the beginning of April,” he says.
The second time it makes sense to wait is when clients are determined to file as soon as humanly possible but they don’t quite have all of their documentation lined up. Hunsberger says that investment companies may not provide all required documents until mid-February and sometimes even later. This year was notable with a lot of investment firms delivering documents late. “If some information is updated and the client has filed, they will need to go through the hassle of amending the return,” he says.
