I reached out to Marsha Mayfield at Modern Woodmen in Conway to discuss financials, retirement planning and living in Conway...
Homeward: How did you get started as a financial advisor?
Marsha: I have been in the insurance Industry for 23 years. 16 of those years with Modern Woodmen. When I began with Modern Woodmen I was hired as a life insurance agent. After some time with the company I realized that my clients needed guidance with their financial and retirement planning. I knew in order to be able to fully cover my client’s needs that I needed to get my securities license. I am so glad that I did and can now meet all of their financial and life insurance needs.
Homeward: What are some mistakes you see young people make when saving for retirement?
Marsha: The biggest mistake that I see young people make when saving for retirement is NOT doing it! Haha! I see so many people spending $5 on a cup of coffee every day or $2 on a soda. This adds up so quickly. Multiply by 365 and you are looking at $700 to $1,800 a year that could have been saved for retirement. I don’t want to only pick on the young ones. I see many people of all ages do this. We have to pay ourselves first and then we can spend on yummy things like coffee.
Homeward: If a 50 year old person hasn't saved anything for retirement yet, is it too late to start?
Marsha: There is no age that is too late to start saving for retirement. In order to meet retirement goals they may have to save more money in a shorter period of time but it is never too late to start.
Homeward: What different programs/services do you offer? Anything new that you want to share?
Marsha: I offer a free consult to anyone who has questions about their current retirement or that are wanting to just set some goals to get started saving. One of my favorite things is to help a client set goals for savings and then help them meet these goals. I can help someone just starting out saving, someone who has a 401k from a former job that they need to get moved, or business owners that want to start a retirement plan. Modern Woodmen offers many different retirement options for individuals and businesses. I also am very involved in the community. I invite my clients to help with service projects, matching funds and many social activities throughout the year.
Homeward: What do you love about being in Conway?
Marsha: I love Conway. I have lived here my whole life and have seen it change so much over the years. It has become a big city compared to what it was like when I was growing up here, but I feel like Conway still has a very small town feel to it. Every time I am out to lunch or making a run to the store in this town of 60,000 plus people, I still almost always run into someone that I know. My favorite thing about Conway is the community impact here. I am on the board of Bethlehem House and am involved in other nonprofits as well and the residents of Conway are so very generous. They volunteer, donate, and show support in many other ways. I wouldn’t want to live anywhere else!
If you have any financial concerns, future planning and/or obstacles you are wanting to tackle, I highly recommend Marsha Mayfield with Modern Woodmen.