Summit Investment Advisors

Summit Investment Advisors Summit Investment Advisors is a full service financial and investment advisory firm. Securities offered through LPL Financial, Member FINRA/SIPC.

Our financial consultants provide strategic investment management and professional advice for individuals, families, and businesses. www.finra.org and www.sipc.org Investment Advice offered through Summit Investment Advisory Services, a registered investment advisor and separate entity from LPL Financial. Third party posts found on this profile do not reflect the views of LPL Financial and have no

t been reviewed by LPL Financial as to accuracy or completeness. For a list of states in which I am/we are registered to do business, please visit www.summitinvest.com.

The IRS regularly publishes data security guidance for tax professionals, but the underlying principles apply to anyone ...
06/17/2026

The IRS regularly publishes data security guidance for tax professionals, but the underlying principles apply to anyone who stores sensitive financial information digitally, which at this point is nearly everyone.

Three practices stand out as particularly high-impact.

Antivirus software is the first layer of defense. It scans your devices for malicious software and catches new threats as they emerge, but only if the software itself is kept current. Running outdated antivirus protection is a bit like locking the front door and leaving a window open.

Two-factor authentication adds a second checkpoint beyond your password. When you log in, a code gets sent to a separate device, typically your phone, before access is granted. It's one of the more effective things you can do to keep accounts secure, and most financial platforms now support it.

Drive encryption converts sensitive data into unreadable code for anyone who doesn't have authorization to access it. If a device is lost or stolen, encryption significantly limits the damage.

None of these require a tech background to set up, and each one materially reduces exposure. If you have questions about protecting your financial accounts specifically, we're happy to talk through it.
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This information is not a substitute for individualized tax advice. Please consult a qualified tax professional to discuss your specific situation. Tip adapted from IRS.gov.

Stocks finished higher last week after a choppy stretch that tested investor patience before sentiment turned.The week o...
06/16/2026

Stocks finished higher last week after a choppy stretch that tested investor patience before sentiment turned.

The week opened mixed. Chip stocks drove gains for the S&P and Nasdaq on Monday while the Dow lagged, and Tuesday reversed that pattern, with the Dow climbing while tech stumbled despite falling oil prices. Wednesday brought a broader pullback when the May CPI report showed year-over-year inflation rising to 4.2%, a three-year high.

Then the picture shifted. Thursday brought encouraging updates on White House diplomatic efforts in the Middle East, and sentiment improved noticeably. The week closed on a positive note, with the largest IPO on record adding fuel to the rally heading into the weekend, carried in part by enthusiasm around AI.

For the week, the S&P gained 0.65%, the Nasdaq added 0.70%, the Dow rose 0.66%, and the MSCI EAFE advanced 0.92%.

The inflation number looks alarming at first glance, but investors had seen it coming. The 4.2% figure matched expectations, and core inflation came in at 2.9%, also in line with forecasts. Month-over-month CPI cooled slightly, which gave markets reason to believe energy-driven pressure may be leveling off. A portfolio built around long-term goals is designed to process weeks like this without requiring a change of course. We're always happy to talk through how your plan is positioned.
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Investing involves risk, including possible loss of principal. Past performance does not guarantee future results.

We are proud to share that Sean McDermott, CFP®, Founder and President of Summit Investment Advisors, has been recognize...
06/15/2026

We are proud to share that Sean McDermott, CFP®, Founder and President of Summit Investment Advisors, has been recognized on the 2026 Forbes | SHOOK Best-in-State Wealth Advisors list!

Sean’s #16 ranking is a reflection of the clients who have trusted us with their financial futures over the years, and it belongs to all of you as much as it does to us. Thank you for the referrals, the relationships, and the confidence you place in our team every day.

Since founding Summit in 2000, Sean has built this practice on one guiding principle: that financial planning should feel like a true partnership. From retirement income planning to tax strategy to estate planning, our goal has always been to help clients live the lives they've imagined, with clarity, confidence, and peace of mind.

We are grateful for 25 years of meaningful client relationships, and we look forward to many more.

06/11/2026

Retirement income planning tends to focus heavily on accumulation - how much to save, where to put it, how to grow it. The organizing question gets less attention, but it’s just as important.

A bucket plan divides retirement assets into three categories based on purpose. The first covers basic living expenses like food, housing, and utilities. The second covers discretionary spending, the travel, dining, and experiences you've been planning for. The third holds legacy assets, what you intend to pass on to family or charities.

Once the buckets are defined, you match the right assets to each one. Social Security fits naturally into the basic expenses bucket, longer-horizon assets belong in the legacy bucket, and the middle bucket often benefits from a mix of income and growth potential.

Organizing a retirement plan this way gives each dollar a specific job. It also tends to make it easier to actually spend the discretionary money, which is something a lot of retirees struggle with when everything feels like one pool they're afraid to draw down.

If you're approaching retirement and haven't thought through how your income will be structured, we're always happy to sit down and talk it through.
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Investing involves risk, including possible loss of principal. Diversification does not eliminate the risk of loss. This content is for informational purposes only and should not be considered individualized financial advice. Securities offered

06/11/2026

If you're in the wrong income zone, one dollar pulled from a retirement account doesn't just create one dollar of taxable income. It pulls another 85 cents of Social Security benefit into the taxable column alongside it.

Brian Carlson explains why in this clip. The concept is called the tax torpedo, and it's one of the most important things pre-retirees can understand before they start drawing from retirement accounts. At a combined rate of around 30%, the effective tax rate on that one-dollar withdrawal comes out to 55%.

Check out YouTube for the full episode for more.



The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for individualized tax advice. We suggest that you discuss your specific tax situation with a qualified tax advisor

Stocks finished the week lower after a strong start gave way to a sharp Friday selloff.The week opened with strong momen...
06/10/2026

Stocks finished the week lower after a strong start gave way to a sharp Friday selloff.

The week opened with strong momentum. All three major indexes hit new all-time intraday highs on Monday, and the S&P 500 closed above 7,600 for the first time on Tuesday. Midweek, rising oil prices and concerns about Middle East tensions pulled stocks back, with the S&P breaking a nine-day winning streak by Wednesday's close. The early-week gains were gone before Friday even arrived.

Friday made things worse. May's nonfarm payrolls came in at 172,000, more than double what economists had expected. Strong job growth is generally good news, but in a market still focused on inflation and the Fed's next move, it raised questions about whether rate relief is as close as some had hoped. The S&P fell more than 2.5% on the session and the Nasdaq dropped over 4%.

For the week, the Dow slipped 0.32%, the S&P fell 2.59%, the Nasdaq declined 4.68%, and the MSCI EAFE dropped 1.41%.

A week that touched new all-time highs on Monday closed in the red on Friday because of a single data release. A well-built plan is designed to absorb variability like this rather than react to it. We're always happy to talk through what the current environment means for your positioning.
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Investing involves risk, including possible loss of principal. Past performance does not guarantee future results.

06/09/2026

Most people assume their tax-free income stays tax-free in retirement.

It doesn't always work that way.

Municipal bond interest, even though it's not taxable income on its own, still counts toward something called provisional income. That's the IRS formula that determines how much of your Social Security benefit gets taxed.

The more income you have coming in alongside your Social Security, the larger the taxable portion of that benefit tends to be. For a lot of retirees, up to 85% of their Social Security income can become taxable.

It’s worth understanding before you retire.

Our latest Summit Talks episode shows how the formula works in practice. Check out the full episode on YouTube for more.



The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for individualized tax advice. We suggest that you discuss your specific tax situation with a qualified tax advisor

Most people planning for retirement have one Social Security question on their mind: when do I file?It's a fair place to...
06/08/2026

Most people planning for retirement have one Social Security question on their mind: when do I file?

It's a fair place to start. But the filing date is only one piece of what determines your actual tax bill in retirement.
Two things that don't get enough attention: provisional income and the tax torpedo. Together, they can push your effective tax rate higher than you'd expect, even on income that looks modest on paper.

Swipe through to see how these factors interact, and why coordinating your income sources before you file may be worth a close look.



The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for individualized tax advice. We suggest that you discuss your specific tax situation with a qualified tax advisor

06/05/2026

The question I hear most often from people in the years before they retire has nothing to do with portfolio allocation or withdrawal rates. They want to know if they're going to be okay. When we start talking Social Security, they're focused almost entirely on when to file.

In this Summit Talks episode, Brian Carlson walks through how Social Security income is taxed in retirement and why filing decisions interact with every other dollar of income you have. A case study shows how a retired couple at 65 saved roughly $6,000 in combined federal and state taxes by adjusting which Social Security benefit they turned on and when, without changing their total income target.

If you're self-employed or own a business and use your car for work, a portion of those vehicle expenses may be deductib...
06/04/2026

If you're self-employed or own a business and use your car for work, a portion of those vehicle expenses may be deductible. The IRS allows business owners to deduct costs tied to the business use of a vehicle, but only the portion attributable to business miles, not personal driving.

There are two methods for calculating the deduction. The first is the actual expense method, which adds up the real costs of operating the vehicle: gas, oil, insurance, repairs, registration fees, lease payments, and depreciation. The second is the standard mileage rate, a per-mile rate set by the IRS each year that's designed to reflect fuel and operating costs in a simplified way. If you own the vehicle and want to use the standard mileage rate, the IRS requires that you use it in the first year the vehicle is placed in service for business.

The standard mileage rate is set by the IRS and updated annually, so the current figure should always be confirmed before filing. A tax professional can pull the current rate and help you determine which method produces the better deduction for your situation.

If you mix business and personal use of a vehicle, keeping a mileage log throughout the year is the most reliable way to support the deduction at filing time.
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This information is not a substitute for individualized tax advice. Please consult a qualified tax professional to discuss your specific situation. Tip adapted from IRS.gov.

Address

3065 Centre Pointe Drive, Ste 2
Roseville, MN
55113

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

(651) 490-2939

Website

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