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Market Minutes with KC Mathews

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Chief Investment Officer KC Mathews recently completed a two-day media briefing in New York City, where he shared his thoughts on current market conditions with CNBC Power Lunch, PBS Nightly Business Report, Bloomberg TV and Bloomberg Radio.

Listen and view the brief broadcast segments below to learn more about what KC is expecting as we move into the last quarter of 2017 and into 2018.

Also, check out other recent economic insights for more information on where we’ve been and where we’re headed.

Follow UMB and KC Mathews on LinkedIn to stay informed of the latest economic trends.

Interested in learning more about our Private Wealth Management division? See what we mean when we say, “Your story. Our focus.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Finding a career to ‘invest in for the long haul’

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In honor of Hispanic Heritage Month, SVP/chief information security officer, Sara Flores, shares her experience with the Hispanic/Latino resource group for associates. Sara is a member of this group, referred to as “SOMOS.” Somos is translated to mean “we are,” conveying the unity UMB business resource groups aim to create.

In the following Q&A, Sara discusses her career with UMB, involvement in SOMOS and her favorite cultural tradition.

How long have you been with UMB?

I joined UMB in 2010. My dad worked for the same cement company for more than 40 years, and I always wanted to find a place I could invest in for the long haul like he did. UMB has a great reputation in the community. Once I saw how many associates had been here 20, 30 and even 40 years, I knew this would be a great next step in my career.

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How do you spend your time outside of work?UMB associate, Sara Flores, with her son

I’m a certified soccer mom. My son plays competitive soccer year-round, so I spend most of my free time organizing our soccer calendar, traveling to games, washing uniforms or helping track down the occasional missing shin guard.

What interested you in joining SOMOS BRG?

Business Resource Groups (BRGs) were just an idea at UMB when I started. I’d seen how successful these types of groups had been at other companies and I was excited to join the discussion about a Hispanic resource group at UMB. Almost eight years later, SOMOS is more than I think any of us in those initial discussions would ever have imagined! SOMOS, and all the BRGs, are so much more than the networking groups of years past and are now great resources for not only associates, but our customers and the community.

What is one cultural tradition that is important to you?

Making tortillas. I have the fondest memories of my mom making piles of homemade tortillas using an old iron disk my grandpa found in the rail yard. They were always perfect and never lasted long! My grandma passed away very young, and she made sure to teach my mom how to make tortillas, tamales, mole—all my dad’s favorite foods—before she died, so that my dad would still have all the tastes of home.

My mom passed these recipes on to me and my sister, and each time we make them, it brings back fond memories of the kitchen and being around the table. It also makes us feel close to all the members of our family who did the same in the past.


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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American Banker’s 25 Women to Watch honoree: ‘People matter most.’

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We are proud to announce that Begonya Klumb, UMB Healthcare Services CEO, has been named one of the 25 Women to Watch in banking by American Banker for the third consecutive year. This award recognizes the banking industry’s most powerful women identified by not only her exceptional career, but through her inspiration to the industry, community and within her company.

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People matter most. This value was instilled in Begonya from an early age by her grandmother, who is one of her biggest inspirations. In the video below, Begonya shares the impact her grandmother made on her life. This video was recently shared at the American Banker Honoree Reception held in New York.

Under Begonya’s direction, UMB Healthcare Services has grown to be one of the nation’s foremost administrators of health savings accounts and related products. Last year, UMB Healthcare Services out-paced the industry with 37 percent growth compared to the industry standard of 22 percent.

View other recent posts to learn more about healthcare industry trends:

Learn more about UMB Healthcare Services, which ranks fifth in total accounts and seventh in total assets among all HSA providers.  


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Monthly Media Update – September

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Our CIO discusses how proposed tax legislation could affect the economy with CNBC, UMB’s Healthcare Services CEO is named one of American Banker’s “Women to Watch,” five tips to improve cash flow‡ from our executive vice president of small business sales, eight reasons to revisit your estate plan, and a Q&A with our Colorado Springs market president. Read these articles and more in our September media recap.

Stay informed on industry trends and noteworthy company news by visiting our UMB in the News section on umb.com, which is updated weekly for timely viewing.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

 

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Diversity & Inclusion: 5 tips for getting outside of your comfort zone

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There is no secret formula for creating an inclusive workplace. However, there are some ways everyone can help foster and grow this type of environment.

We have a history in society of certain groups of people being underrepresented in the workplace. While simultaneously addressing that underrepresentation in our organization, it’s our Diversity and Inclusion mission to ensure everyone is empowered to do his/her best every day– that all, regardless of race, religion, gender, orientation or other diversity dimension, feel fully encouraged and can do their best work every day.

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This sounds great on paper, but we know it’s not always easy. As human beings, we often have the best of intentions, but might feel uncomfortable asking certain questions or are unsure of how to build relationships with people who are different than us.

Getting outside of our comfort zone is challenging and perhaps a little scary. However, in my experience, the advantages far outweigh any uneasiness.

Here are a few suggestions I usually pass on when people ask me what they can do

     1. See others through their lens instead of through your own.

You never know what people are going through. It’s important to acknowledge that all of experiences are different and to try to see other people, and their lives, from their perspective.

     2. Realize your own potential by pushing your boundaries.

Recall what it felt like when you first learned how to ride a bike or when you went on your first date. It’s awkward and uncomfortable at first, but it can blossom into something beautiful. You can build wonderful relationships and accomplish many things by pushing yourself.

     3. Find an inclusion role model.

Reaching out to people who are different than us doesn’t come naturally to everyone, despite our best intentions. Identify someone who it does come naturally to and observe them, ask questions, or go to events together so you can meet new people. We all have hidden biases based on our individual experiences that we’re often unaware of. Meeting people outside of our regular circles helps us overcome those biases and assumptions.

     4. Celebrate others for what makes him/her unique.

Diversity and inclusion is all about celebrating what everyone brings to the table. At UMB, we want to recognize the whole associate, not just what you bring to work. We know people perform better at their jobs when they feel comfortable and at home. What makes each person different doesn’t need to divide us; it should bring us together.

     5. Participate in opportunities to meet new people.

At UMB, we have found that encouraging people to be their whole selves at work is a great starting point. To encourage this, many associates participate in Business Resource Groups (BRGs) which focus on unique internal audiences, such as race, ethnicity, gender, sexual orientation, veteran status, disabilities and more.

Our BRGs promote inclusion among all associates and provide a talent resource, volunteer and development opportunities and contribute to the company’s strategic business objectives. To us, it’s important that every associate feels that they’ve found a second home at UMB.

Learn more about UMB’s Diversity and Inclusion efforts here and check out the many career opportunities available.


Abby Wendel joined UMB Financial Corporation in 2008 and is executive vice president and chief strategy officer, with responsibility for leading the company’s corporate strategy and development functions. She earned a Bachelor of Arts degree in political science from the University of Colorado at Boulder and a master’s degree in business administration from the University of Colorado at Denver. She completed the ABA Stonier Graduate School of Banking curriculum at the University of Pennsylvania and the Greater Kansas City Chamber of Commerce’s Centurions Leadership Development Program.



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Happy Anniversary, Marquette Transportation Finance: Q&A with Rich Voreis, CEO of Marquette Transportation Finance

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We recently sat down with CEO of Marquette Transportation Finance Rich Voreis to talk about the company’s 15-year anniversary. Check out the below Q&A to learn more about the company and its evolution.

Tell us about Marquette Transportation Finance and how did the company started? 

We are industry leaders in providing working capital financing to companies as an alternative to traditional bank financing. We help businesses do several things such as:

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  • Drive growth by improving working capital
  • Fund acquisitions and recapitalizations
  • Improve liquidity
  • Fund restructures
  • Serve as a bridge lender until a company is able to receive traditional bank financing

We opened the doors to Marquette Transportation Finance (MTF) in September 2002. The story to how we got there is very interesting. Initially, I worked for Marquette Financial Companies, at the holding company level. After several years, I left to join a transportation finance company. When the company was sold, Marquette asked me to come back and start a transportation finance company for them.

In 2002, we had five people working for us and closed our first deal in October of that year. At the end of 2003, we started our 10-year growth trajectory. As of June 30 this year, we reported $160.7 million in factoring balances with an average balance for the quarter at $155.5 million. Factoring is a volume business and the receivables are often more important than outstanding balances. In our fifteen year history we have purchased approximately $15 billion in receivables.

Along the way, we added Marquette Commercial Finance to the family, and we merged the two together in 2012 to become one large subsidiary of Marquette Financial Companies’ Meridian Bank. In 2015, Marquette was acquired by UMB Financial Corporation, which is where we are today as we get ready to celebrate our fifteenth anniversary.

 

 

How has the industry changed?

Our industry has experienced a great deal of change over the past 15 years. First and foremost, the biggest change has been technology. Since we deal with large trucking companies that are delivering products, daily we received reams of paper to support our purchase of our client’s receivables. Each day we would receive an overnight package from every one of our clients containing this paperwork. Today, we do everything electronically, which allows us to be more efficient and standardized in our processes.

We have also seen a lot of change with our competitors and pricing. Initially, the competition was relatively small, but now more banks are adding a factoring division to their offerings. We also have to stay competitive with our pricing and rates, which is directly impacted by what’s happening economically. As we continue to rebound from the recession, we are experiencing more competition in this area.

However, we do feel our service and experience continues to be a differentiator for us. As both our company and the industry continue to grow and evolve, I’m excited about the opportunities we have in offering our clients the best service possible with the best products in the market.

What does the future hold for MTF?

I believe we have a lot to look forward to in the coming years. We are thrilled to be a part of UMB, because now we are able to offer even larger financing to our clients. With UMB’s support, we have been able to expand our offerings and use all the resources that come with UMB’s breadth and expertise.

It is truly an exciting time to be a part of Marquette Transportation Finance. I can’t wait to see what the next 15 years holds for us.

Marquette, a subsidiary of UMB Bank, n.a. located in Bloomington, Minn., is a leading provider of accounts receivable financing solutions, serving companies with annual revenue from $2 million to $400 million. Marquette assists companies in meeting their working capital needs to drive growth, fund acquisitions, improve liquidity and fund restructures. Marquette is small and nimble, which allows it to control how it manages and offers its services, yet it’s also backed by the strength of its parent company, UMB Financial Corporation, which allows the company to extend larger financing packages.


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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UMB Healthcare Services: providing data to increase wellness strategies

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As the market continues to grow for HSAs, so does the importance for education around accountholder behavior and how employers can use segmentation data to create engaging benefit strategies that will ultimately increase financial wellness.

Through segmentation data and account behavior analysis on its more than 1 million active health savings account (HSA) accountholders, UMB Healthcare Services is offering specific partner data and employer data* similar to what is found in the below infographic.

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Education on how HSAs can be used as a long-term investment strategy is also important in increasing financial wellness among accountholders. In the segmentation data, UMB found that accountholders who invest in their HSAs have a larger balance overall in their deposit account.

Key findings from the 2017 segmentation data include:

  • Savers (UMB accountholders whose HSA balance was greater than the amount spent) represent the largest segment for the fifth consecutive year.
  • On average, UMB HSA accountholders have had their accounts open for a little more than two years, funded accounts have an average account balance of $1,792 and have received a $438 annual employer contribution.
  • Mean average household income of a UMB HSA accountholder is $57,108.
  • Top three occupations: administration management, professional technical, tradesperson.

*UMB’s HSA Data Analytics Tools, HSAWorks®, EngageCore™ and EngageAdvanced™, examine trends in account balances, individual and employer contributions, distributions, invested assets and account-owner demographics.

Learn more about UMB Healthcare Services, which ranks fifth in total accounts and seventh in total assets among all HSA providers (Source: 2017 Midyear Devenir Report).


Ms. Klumb serves as CEO, UMB Healthcare Services. Previously, she served as executive vice president, chief strategy officer. She joined UMB in 2003, after completing her MBA at Yale University. She also holds an MA from Hochschule Fulda and a BA from the Universitat d'Alacant. Ms. Klumb is actively involved in the community. She was appointed by the mayor to the Summer Youth Employment Commission, she chaired the Mattie Rhodes Center board, and she was a co-chair a for Academie Lafayette's successful capital campaign.



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UMB Together: associates unite for unique event

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UMB associates recently participated in a new annual event called UMB Together. The event involved diversity and inclusion workshops and activities across the company’s footprint for associates in branches and regional offices. The intent of these activities is to increase associates’ understanding of each other’s differences and to encourage having conversations about these topics. With that in mind, UMB Chief Diversity and Inclusion Officer, Vanessa Sims, explains that UMB Together is about more than one day.

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UMB Together is a collaborative effort among our Business Resource Groups, with a number of the ideas for the event day coming from associates. UMB Together creates experiences for associates to engage and learn about each other and become the best we can be as people, an organization and as a society.

However, UMB Together extends past one day. We encourage each person to think about what this means every day. We’re providing ongoing resources for associates to utilize in approaching difficult situations, getting to know someone different from themselves and more.  Even though we are always working to build a diverse workforce, it’s only when we create an inclusive workplace that we realize ongoing progression toward that goal.

At UMB, we want to continue to cultivate an environment where it’s okay to believe what you believe and to express yourself in a respectful way. UMB Together provides a platform for associates to learn more about each other and how we can all play a role in making the world a safer and better place for all.

UMB Together is also meant to convey a feeling of unity. You never know what your co-workers, neighbors or acquaintances are going through. As associates often describe our company as a family, we want to make it clear that no person is alone in the unique struggles he/she might face. We are together in the effort of conveying understanding, empathy and kindness in all that we do.

We’re working to turn “talk” about embracing diversity and inclusion into action. We believe each person has the power and ability to impact the world in which we live, whether it be at work, in our community, or elsewhere. We encourage everyone to help send a message that working together from a place of kindness and understanding is powerful.

“We can learn to see each other, and see ourselves in each other and recognize that human beings are more alike than we are unalike.” – Maya Angelou.

Learn more about UMB’s diversity and inclusion efforts on our Careers page.


Vanessa Sims joined UMB in 2007 and is senior vice president and executive director of UMB’s Diversity and Inclusion (D&I) strategy. In this role she is responsible for D&I strategy integration, and its alignment with UMB talent and business objectives. She earned a Bachelor of Science degree in organizational communication from Central Missouri State University, in Warrensburg, Mo., and a master’s degree in management and leadership from Webster University, in St. Louis, Mo.



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Historic Auction Returns to Fort Worth

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If you asked someone who had no experience with longhorn cattle to describe them, the words “friendly,” “affectionate” and “tame” probably wouldn’t come to mind. However, for those that have grown up around them, such as UMB Fort Worth Commercial Lending Officer Brady Beal (pictured right), these are qualities that he may never forget to include.

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“My family became involved with longhorns about 30 years ago when my mother and stepfather built one of the premier longhorn herds in the country here in Texas,” says Brady. “They are remarkable animals. They’re resilient, very well adapted to Texas conditions, and surprisingly tame.”

“In fact, there was actually a longhorn bull that I helped halter break many years ago, named Funny Face,” Brady continued. “He always wanted to be pet on the top of his head like a dog. It was a lot of fun, but I can also tell you that having a longhorn that is so friendly and affectionate can be a little dangerous. Imagine a dog that comes up and wants to be pet, but has two feet of horn sticking out each side of his head. I was accidentally wacked on more than one occasion. I don’t think Funny Face ever realized he was a longhorn.”

UMB is proud of its long history as a lender to both ranchers and farmers alike (recently recognized as a top 20 ag lender in the United States) and many of our associates, like Brady, have deep connections and understanding of the industries they’re involved in, including commercial, industrial and agriculture. This enables them to better understand and serve a wide range of customers and their needs.

“I like being able to drive around North Texas and see a customer’s place of business and reflect on the stories, how they began, how they expanded, grew and adapted. I think this is the most interesting part of the job. I enjoy getting to know these people as I try to help them with their businesses – I become personally and emotionally invested in the success of these companies.”

Just as Brady continues to build relationships with his customers, UMB also continues to build its relationship with the Fort Worth community, which includes sponsoring the signature Hudson-Valentine Fort Worth Stockyard Auction on September 22.

“The stockyards and Longhorns are big part of Fort Worth’s culture,” says Brady. “This sponsorship helps preserve the rich history of the Fort Worth Stockyards by bringing back the same type of cattle auction you would have seen in the area over 100 years ago.”

While Brady will be there on the first night of the longhorn auction, his days of working with cattle are now limited to attending the auction and helping his mom with the few head of cattle that she keeps at her place in Aledo, Texas.

“Oddly my work with cattle inspired me to choose a banking career. Ranch work is HARD. It’s a 24-hour, seven-day-a-week job, and you still never get it all done. My work with cattle pushed me to know that I wanted a position, where I could help people. At UMB there is an entire culture from the top down that cares about its employees and its customers and wants what’s best for all involved.  In my opinion, the feel of UMB ‘s culture is that it is a family owned organization, which sets it apart as an employer and for our customers.”

Learn more about commercial lending at UMB and our growing presence in Fort Worth.

Learn more about what ag means to UMB and see some of our clients in action.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Financial planning is a marathon, not a sprint

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Whether you have just started the race and you are at the beginning of your career, or you are closing in on the finish line of retirement, you should stay on track with your financial planning. Much like running a marathon is different than a sprint, planning long-term financial goals is different than simply paying your bills every month. A knowledgeable financial partner can coach you through this and make the process seem less daunting. Similar to a mile marker showing you what point you are at in a marathon, certain life events signal when and how you should financially prepare.

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Just starting out

Start saving as soon as possible to set the pace for this long-distance run. Consider opening a savings account and set aside whatever you can from each paycheck. With most banks, you can set up an automatic transfer from your checking account to a savings account so you won’t even have to think about it. Also consider a retirement fund—either a 401(k)‡ or similar employer-sponsored plan, or an Individual Retirement Account (IRA)‡ separate from your current job.

Planning for a family

Thinking about starting a family? This is an important decision and one that you must be prepared for financially. Much like training before you run a marathon, adjusting your budget and saving for having kids is important. Paying for medical bills when the baby is born or financing adoption fees is no simple task. Not to mention childcare and other expenses related to children once you have them—bottles, diapers, clothes, toys can all add up quickly.


Children’s education

If your children plan to pursue higher education after high school, you will need to save for that expense. A four-year degree is estimated‡ to cost $442,696 for students enrolling in 2035 if tuition increases seven percent per year. Does that number make you nervous? Planning ahead and starting to save when your children are born will help with some of that anxiety.

Pre-retirement

As you see the retirement finish line in the distance, it is important to meet with your financial partner(s) to understand when you can retire and feel comfortable with your finances at that time. Ask how your retirement fund(s) is/are performing and whether or not you need to increase/decrease your contributions. Want to spend your retirement vacationing at that lake house you have always dreamed of? It doesn’t have to be a dream if you start budgeting now.

Post-retirement

Now it’s time for the post-run cool down and stretch. After you retire, it is more important than ever to monitor your finances. You aren’t contributing to a retirement fund or planning to pay for your children’s college; instead you are now working on a fixed income and have to ensure that it will last for the rest of your life.

Marathon runners train very hard for a long time to prepare for those 26.2 miles. Often they don’t do it alone and will work with a trainer who helps them through the preparation. Utilize the expertise available at your bank and start preparing for the long-term so you can reach the finish line when and how you want.

Interested in learning more about our Private Wealth Management division? See what we mean when we say, “Your story. Our focus.

Follow UMB‡ on LinkedIn to stay informed of the latest economic trends.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


You've worked hard to get where you are. But, you are more than just your net worth. You have a style, an outlook, a story. At UMB Private Wealth Management, we know that understanding your personal story is the key to helping you write your next chapter. Learn how our experienced advisors can tailor a financial plan based on your unique goals.



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