Sycamore Middle School Interact Club members gave $1,506 to the Voluntary Action Center “Meals on Wheels” program as a result of their school year “change wars” fundraiser. Loose change they collected was turned into one large check with students posing for a photo that included club liaison Judy Sgarlata (far left).
Resource Bank Director of Trust and Investment Services Keith Akre breaks down three myths of financial management during this week’s Rotary meeting. Akre shared fact-based data to support a plan for wealth management that includes understanding the time value of investments and how regular updates to your financial plan are a necessity.
After its meeting to discuss the many applications received, the Sycamore Rotary Club Scholarship Committee awarded the following scholarship amounts to eight deserving graduating seniors from Sycamore High School:
$1,500 to AnaMaria Juarez, who plans to double major in Psychology and Pre-Medicine at Augustana College. AnaMaria was an Interact member.
$1,500 to Bruno Wilkerson, who plans to study Fire Science at Elgin Community College. Bruno was an EarlyAct member then an Interact member.
$800 to Johnny Lockbaum, who plans to study Physical Education at Kishwaukee Community College. Johnny was an Interact member.
$800 to Anastasia Churchill-Hammon, who plans to study Pre-Law at the University of Iowa.
$800 to Anya Berry, who plans to study Nursing at Marquette University. Anya was an EarlyAct member then an Interact member.
$800 to Phoenix Calabrese, who plans to study Software Engineering/Computer Science at Michigan Technological University or Northern Illinois University.
$800 to Grace Hegemeyer, who plans to study Nursing at Carthage College. Grace was an Interact member.
$800 to Kaitlyn Ryder, who plans to study Elementary Education at Utah State University. Kaitlyn was an Interact member.
Scholarship awards were announced at Senior Awards Night at Sycamore High School on Thursday, May 22. Congratulations to all recipients!
Keith Akre’s almost 20 years in banking has helped him understand the truth and fiction of various wealth management practices which he shared this week with the Sycamore Rotary Club. Akre is currently the Director of Trust and Investment Services at Resource Bank. He began his banking career at Northern Trust in Chicago.
Myth 1: You have to be ultra-wealthy to get good financial advice.
Akre said the reality is there are tiered financial services to fit multiple investor needs. He said these range from on-line broker platforms, to investment advisors, to wealth management firms. According to Akre, the two main things to keep mind are that the person you are dealing with is competent and that “they care” about you. This myth is busted.
Myth 2: Great investment advisors will make you rich.
Warren Buffett of Berkshire-Hathaway had an average return on investments of 19.9% from 1965 to 2024 and investor George Soros had a 30% return on his Quantum Fund of 30% from 1970 to 2000. Average market returns are 10%. But Akre says the real key is investment consistency. For example, $50,000 invested for 25 years at 10% yields $336,000, but a regular contribution of $2,400 during that time will net $794,000. You might be lucky with a good advisor, however moderate but steady investing over time brings more consistent results.
Myth 3: Once you figure out a strategy, no further management is needed.
Akre noted that this ignores life changes such as birth of children, insurance costs, tax law changes, retirement needs, and wealth transfer planning. Akre said surveys show that the largest, unexpected expense faced by couples is support for their adult children (such as help with buying a house, a car, a celebratory vacation, etc.). This myth is busted.
Even though he is a professional money manager, Akre says he has picked both winners and losers when it comes to the stock market. He noted that while involved with an investment club in college he was an early buyer of Apple stock, but at the same time he also invested in New Century Financial which was having a huge runup in value just before it became the first casualty of the mortgage financial crisis. His conclusion is that making informed decisions through consistent investing is the best way to handle wealth management.
May 18, 1897 – Hollywood director Frank Capra, known for “It’s a Wonderful Life”, “Mr. Smith Goes to Washington”, and “It Happened One Night”, is born in Bisacquino, Italy.
May 19, 1930 – Playwright Lorraine Hansberry, whose work “A Raisin in the Sun” was the first drama by an African American woman to be produced on Broadway (in 1959), is born in Chicago.
May 20, 1908 – Academy Award winning actor James Stewart (The Philadelphia Story), is born in Indiana, Pennsylvania. Stewart is also known for his portrayals in It’s a Wonderful Life, Mr. Smith Goes to Washington, and Harvey. He was also a decorated World War II Air Force officer and remained in the Air Force reserves after the war, retiring as a Brigadier General.
May 22, 1859 – Sherlock Holmes creator Sir Arthur Conan Doyle is born in Edinburgh, Scotland.
May 18, 1804 – Napoleon Bonaparte is proclaimed Emperor of France by the French Senate.
May 19, 1980 – The Mt. St. Helens volcano erupts in Washington State, its first major eruption since 1857, sending steam and ash eleven miles into the sky. It is the deadliest and most economic destructive volcanic event in U.S. history. A total of 57 people are killed and 200 homes,47 bridges, 15 miles of railway, and 185 miles of highway are destroyed.
May 20, 1927 – 25-year-old Charles Lindberg takes off in the “Spirit of Saint Louis” and becomes the first person to complete a solo non-stop flight across the Atlantic Ocean. On this same date in 1932 Amelia Earhart would become the first woman to complete a solo non-stop flight across the Atlantic.
May 24, 1844 – Samuel FB Morse taps out “What hath God wrought” in the first message from an official telegraph office located in the basement of the U. S. Capital building which was then received at a Baltimore and Ohio Railroad Station in Baltimore.
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BOARD OF DIRECTORS, 2024-2025
President – Steve Wilder
President Elect – Jonelle Bailey
Director (President Nominee) – Becky Springer
Director (President Designee) - Matt Nelson
Past President – Brandon Diviak
Treasurer – Dr. Michele Jurkovic
Secretary – Pat Shafer
Sergeant at Arms – Paulette Renault
Monthly Committees
July: Board of Directors
August: Brandon Diviak, Jeff Keicher, Pat Shafer
September: Dave Hamilton, Jeff Jacobson, Jim Stoddard
October: Paul Callighan, Matt Nelson, Paul Stromborg
November: Sue Emberson, Jeff Frank, Phil Meyer
December: Larry Berke, Ray Dembinski, Riley Oncken
Fellowship: Paulette Renault, Larry Berke, Sue Emberson, Dave Hamilton, Pat Shafer
Foundations:Paul Stromborg, Jim Buck, Sue Emberson, Matt Nelson, Jim Stoddard
Membership: Jonelle Bailey, Ray Dembinski, Brandon Diviak, Bob Hammon, Jeff Jacobson, Steve Kuhn, Phil Meyer, Matt Nelson, Riley Oncken, Jeff Petersen, Bob Wildendradt
New Generations: Chip Houdek, Julie Sgarlata, Becky Springer, Steve Wilder
Public Image: Bob Brown, Paul Callighan, Jeff Keicher, Joyce Klein, Tasha Sims
Scholarships:Tim Neubert, Don Clayberg, Ray Dembinski, Michele Jurkovic, Steve Kuhn, Julie Sgarlata
Service: Brandon Diviak, Alicia Cosky, Jeff Frank, Michele Jurkovic, Rob Mondi, Tim Neubert, Brendan Wilson
