dsmWealth: September 7, 2023

BY STEVE DINNEN

Most people donate to charity by tucking a check into an envelope. Others prefer to slog through mud pits, haul logs and hopscotch through truck tires in the Wild Boar Challenge that raises money for Wildwood Hills Ranch of Iowa.

This year, hundreds are expected to head for the hills near St. Charles to run the muddy 5-mile obstacle course on Sept. 30, and registration is still open. The fee is $75 through Saturday or $80 starting Sunday — or more, if you’re in a giving mood — and includes some swag from sponsors as well as a post-race shower operated by the fine folks from Tommy’s Express Car Wash.

“A hundred percent of the proceeds go to kids,” said Matt Moeckl, executive director at Wildwood Hills.

The “kids” in this case are disadvantaged young people from across Iowa to the Madison County ranch to ride horses, learn life skills and sharpen their leadership skills in a faith-based program. Most of the camps take place in the summer, but there are monthly retreats for teenagers, and a horse-mounted drill team practices year-round. As participants grow up, their activities shift from “being served” to “serving,” Moeckl said, so they can practice how to “show up on time and work hard.”

Basically, Wildwood Hills Ranch welcomes children who have been stuck in a cycle of poverty, abuse and neglect and then helps lift them out of it.

Every year, the ranch works with about 1,000 youngsters who have experienced some sort of trauma. More recently, the ranch has also helped veterans who’ve struggled through the trauma of war. Participants of all ages partake in “equine-assisted therapy,” which can include riding horses, grooming them or even just walking with them. Moeckl said horses have a gait that is similar to a human’s, and they can help injured veterans regain mobility.

But all of this takes money. The ranch spends about $1.7 million each year on its programs and staff, including several who work year-round. And, of course, the horses eat year-round, too. Proceeds from the previous Wild Boar Challenges have defrayed the costs of maintaining the site’s ATVs and refurbishing a water slide — which will be put to good use on the day of the run.

At the ranch, cows help with lawn and the bottom line
BY STEVE DINNEN

Wildwood Hills Ranch is all about horses. Maya, Mr. Joe and the rest of the gang help all kinds of Iowans, from disadvantaged youth to veterans with PTSD.

So what’s with the small herd of cows? Why do they share the 400-acre property near St. Charles?

“I got tired of paying someone to mow perfectly good forage,” executive director Matt Moeckl joked.
He said horses can be finicky about the kinds of grass they eat, but cows — not so much. This lawn care strategy has diversified the program at the ranch, especially since one by one those cows eventually end up on the dinner table. The nonprofit has saved $3,000 by serving its own ground beef to visitors, and Moeckl said the ranch will soon add its own grass-fed, all-natural steak to the menu at the retreat center.

Here in Des Moines, Meals on Wheels also is diversifying. Soon its operations will move into new digs on University Avenue, into a kitchen that’s three times the size of the current setup. Also on tap: a hydroponic garden tended to by a staff gardener, and a restaurant that will serve the public.

Where to put your cash now: Tips for every income level
BY OYIN ADEDOYIN FOR THE WALL STREET JOURNAL

Stop dwelling on what you’ve lost to rising interest rates and take advantage of the opportunities they present.

High rates are expected to linger for a while and they are having a corrosive impact on some parts of our finances. Taking out a $500,000 mortgage to buy a home today will cost you about $400 more a month than it would have a year ago in a standard 30-year mortgage. That is not to mention higher rates on credit cards, personal loans and other products for borrowers.

The high-rate periods can also bring juicy, high yields on savings accounts, certificates of deposit and Treasury bills — that is, banks are paying you to let your money sit there. And anyone can take advantage, regardless of income.

Dena Bashri opened a SoFi savings account last fall. It now yields 4.5% a year. She wanted a higher return than she was getting at her local credit union.

Bashri, 25, is a senior director at a fundraising firm and makes roughly $92,500 a year. She saves money on rent by living with her parents in Virginia so she’s able to contribute about $4,900 each month to her savings account. She’s already earned close to a few hundred dollars in interest and hopes to continue building her rainy day fund, she said.

“Emergency savings offer me the flexibility to take risks but also financially anticipate any life changes that may happen,” Bashri said.

For a financial road map for making the most of great yields while staying on track with your short- and long-term money goals, continue reading the story here.

Three smart money moves to make this fall
BY TONY DRAKE FOR KIPLINGER

It’s hard to believe we’re already heading toward fall. Many of us spent the summer unwinding and relaxing, so now it’s time to check in on our finances and set ourselves up for success for the rest of the year. But where should you start? I have three important moves you should include in your autumn checkup.

1. Revisit your investments

Now is a great time to take a look at your investments. The stock market has seen its fair share of ups and downs this year, and you want to know how your money has been affected by it.

Are you comfortable with the amount of risk in your portfolio? As your investments moved up and down earlier in the year, did it have too big an impact on your master retirement plan? Your investments should always be diversified and have appropriate risk for your age and how close you are to retirement. I recommend running a risk analysis of your investments with your financial adviser. This will help you understand how much risk is appropriate for you at your current stage of life.

A common investing strategy I use with my clients is the rule of 100. With this strategy, you take your age and subtract it from 100. The resulting number should be the percentage of your portfolio that is in stocks. For example, if you are 40 years old, 60% of your portfolio should be in stocks. But if you are 60, then only 40% of your portfolio should be in stocks. This strategy helps clients get a clear picture of what their portfolio should look like.

2. Revisit your budget

When was the last time you looked at your budget? According to a recent survey by Cerulli Associates, retirees' biggest fear is outliving their assets. Proper planning through evaluating your spending habits and establishing a budget is the first step in addressing this concern. If you haven't taken a look at your budget since the beginning of the year, you may find that it isn’t working as well as you’d hoped it would. You may need to adjust based on an increased cost of living, inflation or rising interest rates.

My biggest piece of advice for anyone making a budget is always make sure you are earning more than you spend. Once you have become accustomed to spending less, you can then start focusing on long-term goals like saving for retirement.

3. Revisit your tax plan

Many people think about their taxes only as we get closer to tax season, but this should be something you are thinking about all year long. Proactively planning your taxes can help you maximize your savings and minimize your liability. The more you think about it, the better plan you can have in place when Tax Day arrives.

The first thing I recommend doing in a mid-year checkup is double check your withholdings. Income tax brackets have changed over the last few years, and many people haven’t updated their withholdings to reflect that. By adjusting your withholding, you are benefiting your finances year-round. You may not get as big of a tax refund, but you will get more money in each paycheck.

What type of retirement accounts are you contributing to? Tax-deferred accounts like your 401(k) and traditional IRA offer tax advantages now. You won’t pay taxes on these accounts until you withdraw money in retirement. On the other hand, tax-deferred accounts like Roth IRAs offer tax advantages later in life. Your money is taxed up front, so you withdraw it tax-free in retirement. If you’re not careful, taxes can sneak up on you, and you don’t want to get caught paying more than you need to.

Many people focus on their finances at the beginning of the year but fail to keep them at the forefront of their mind for the remainder of the year. Set aside time this month to review your finances, either by yourself or working with a financial adviser. With more than a quarter of the year left, there is still plenty of time to make any necessary changes before 2023 comes to an end.