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FINANCIAL SERVICES, LLC
616-514-3831
www.MattsonFinancial.com
OCTOBER 2022
WHEN SHOULD I BUY A LARGE PURCHASE? WISELY RESPONDING TO INFLATION
We’ve heard all summer about inflation, and now we’re talking about it well into the beginning of fall. It’s an unfortunate reality for the time being — and who knows for how much longer. So, what should you be doing to prepare for long-term inflation? Start by delaying purchases that are desires, not needs. For example, unless you have no choice, now is not the time to go out and buy a new car. I rarely claim to have a crystal ball, but in this case, I’m confident in the following. Car manufacturers have 2020-2023 model cars sitting parked in large lots, waiting for chips. When the system rebounds and chips become plentiful, they’ll need to do something with all those cars. I believe we’ll see brand-new vehicles that are 2-3-year-old models for sale. What does that mean? There will likely be steep discounts, no- interest financing, extended warranties, and possibly other incentives to prevent those cars from ending up in landfills. Otherwise, who would buy an old model 2020 car — even if it hasn’t ever been titled — for the same they’d spend on a new 2024 model? If you can accept having a brand-new car that is nonetheless 2-3 years old, you’d be wise to wait especially for the incentives that will come along with those models. The same goes for other expenditures — including travel, where we’ve seen significant price hikes. For better or worse, you might want to adjust some of the trips you planned in retirement, choosing those on your list that are closer to home. You can save costs by traveling on domestic vacations instead of international ones. So, enjoying those dream bucket destinations that are local, instead of later, while fuel prices are higher, may be a great way to save funds in the short run while still enjoying travel. Meanwhile, we’re adjusting your portfolio by bringing in investments that tend to do well in inflationary times, such as real estate and precious metals. Having added investments and rebalanced portfolios as opportunities arise, we’ve put our clients in an ideal position to take advantage of a market upswing. We expect to see increases of high single digits to upwards of double digit returns in some areas. That’s why diversification is so important! The only problem is that we don’t know exactly “when” this will take place. The hardest part of investing is patience. And right now, we’re definitely in the waiting game.
In the meantime, we encourage you to take care of other important business. Review your beneficiaries on all your accounts and confirm your trust information is up to date, especially if you haven’t reviewed it in the past three years. Have any circumstances of your family changed? It’s critical to update your legal documents along with these changes. We see cases where someone made their wishes clear to family members, but their documents outline something different. So, ensure your assets will go to whom you want — when you want — with as little taxes as possible. Review your retirement accounts, including those outside Mattson Financials’ purview, and work with your estate planner to protect your investments and reduce your tax liability. As we develop enhanced planning areas like long-term care planning and Medicare and Medicaid planning, we’ll unpack these different pieces of the puzzle in our upcoming First Friday events (FFE). We hope you’ll join us for market updates, long-term projections, and other information to help you make the best decisions. Remember, we’re in this for the long haul. Investing is a marathon, not a sprint, and it’s a marathon you can win with our dedication to the details. I hope everyone makes the most of autumn and enjoys the falling leaves. Feel free to contact me, but know I’ll likely be outside with my blower pack on high blowing those colorful leaves into manageable piles!
–Gary Mattson
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IS REMOTE WOR ‘The Nowhere Office’ Explor Think about your current work environment for a second. Is it the same as it was three years ago? Likely not, as the traditional workplace was overhauled
due to the COVID-19 pandemic, and now, many employees across various industries are working remotely. But can work return to the offices full time? Should it? Julia Hobsbawm answers these questions and more in her book “The Nowhere Office: Reinventing Work and the Workplace of the Future.” Now that pandemic lockdowns have been lifted, many business owners have attempted to push employees to return to the office full time. Hobsbawm believes that’s the wrong approach, as forcing employees back into an office could kill productivity, and writes that remote or hybrid workplaces can be more flexible for employers and employees alike while still allowing work to be completed on time.
But if remote work is the future, what will happen to the workplaces owned by businesses? Are they unnecessary? Not exactly, explains Hobsbawm. She believes that businesses still
Doing Good Does You Good Volunteering not only strengthens the community but also benefits the person who serves. For those who enjoy spending their time giving back, check out how volunteering opportunities can benefit you!
Build the Community Through Giving
Prevents Isolation and Promotes Socialization Many older adults face social isolation, and it can have negative impacts on their overall health. Volunteering is a great way to network with members of the community and meet new people. Likewise, after moving to a new neighborhood or leaving a career, it is difficult to find a new social group. But when you work with people toward the same goal, you may find you have common interests with other volunteers. You can even invite your family or friends to help, and then catch up while doing something good for the community. Gives a Feeling of Purpose Sometimes as life changes and you grow older, your sense of purpose may begin to fade. Volunteering can help recharge a zest for life and may even motivate you to set and accomplish new goals. You should volunteer for many reasons, whether it’s to give back to the community, help the environment, or satisfy your own personal needs. No matter why, it’s a great way to get out there and do some good.
Improves Mental and Physical Health When you do good, you feel good. Those positive emotions lead to emotional resilience, which helps you in the face of crisis or stress. They also decrease stress while increasing positive, relaxed feelings. Volunteering gives you a sense of meaning and appreciation, which can reduce the symptoms of depression and anxiety. Volunteer activities also keep people moving. Whether it is carrying donation boxes, walking around the neighborhood, planting a community garden, or even cleaning litter from the roads, this moderate physical activity can help strengthen muscles, reduce blood pressure, and even alleviate symptoms of chronic pain.
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RK THE FUTURE? res This Idea need physical workspaces, but how they are used will change. They will no longer be a place where employees spend their entire day. Instead, they will be designated for networking, training, and development. Hobsbawm also tackles the idea of how much employees should be working. She informs business owners that it’s okay to have employees work less, as it can lead to more productivity. She states that “work can and should be not only a source of raw income but also a purposeful life itself.” While your employees need to earn a livable wage, they should also find passion in their work, or they will quickly burn out and feel resentment toward their job. If your business has switched over to a remote or hybrid environment and you’re still trying to figure out how to successfully manage your team, “The Nowhere Office” will help you develop a plan.
Upcoming Events
Exclusive Client Movie Event: ‘Ticket to Paradise’ Oct. 22, 2022, 11 a.m. at Celebration! Cinema South 1506 Eastport Dr Grand Rapids, MI 49508
Call us at 616-514-3831 to RSVP. Limited to first 200, and only two (2) per household.
First Friday Event Nov. 11, 2022, 12 p.m. 3226 28th St SE, Kentwood, MI 49512
As we wrap up our First Friday events for the year, join us for snacks and beverages and stay for our featured speaker presentation by Michelle Rashid of Senior Placement Services of Michigan. Market Update at 2 p.m. December: No First Friday Event
SARAH’S
Visit MattsonFinancial.com for more info!
PUMPKIN PIE PARFAITS
Inspired by Kenarry.com
TAKE A BREAK!
Ingredients
•
3.4 oz instant vanilla pudding mix
• • •
1/4 tsp nutmeg
1/8 tsp ground cloves 1 cup vanilla sandwich cookies 8 oz whipped topping
• • •
2 cups cold milk
15-oz can pumpkin purée
1/2 tsp cinnamon
•
Directions
1. In a large bowl, whisk together pudding mix and milk. Let sit for 5 minutes, then stir in pumpkin purée, cinnamon, nutmeg, and ground cloves. 2. In a blender or food processor, crush vanilla sandwich cookies into crumbs. 3. In small jars or glasses, place cookie crumbs on bottom, then pumpkin mixture, then whipped topping. Repeat these layers twice and end with cookie crumbs. 4. Chill until ready to serve!
Solution on Pg. 4
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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
106.9 FM and 1300 AM Saturdays from 7–8 a.m. Sundays from 11 a.m.—12 p.m.
FINANCIAL SERVICES, LLC
3226 28th Street SE Kentwood, MI 49512
INSIDE THIS ISSUE
1
Inflation and When You Should Buy
2
Become an Expert on Remote Work Benefits of Volunteering for Older Adults
3
Pumpkin Pie Parfaits Upcoming Events
4
3 Picture-Perfect Destinations
**Reminder: If you have any changes to your financial situation, please notify us as soon as possible.
Investment advisory services offered through Mattson Financial Services, LLC, an SEC-Registered Investment Advisor. Insurance and annuities offered through Lakeview Financial Group, LLC. Mattson Financial Services, LLC and Lakeview Financial Group, LLC are affiliated companies.
3 PLACES TO TRAVEL THIS SEASON Fall in Love With the Scenery!
Fall is the perfect time to plan a scenic vacation. You can find lower prices and fewer crowds at many popular destinations right now. Best of all, the views are incredible. From the changing colors of leaves to sunsets and mountains — a picture-perfect getaway awaits you! Here are three popular destinations to fall in love with this season. 1. Asheville, North Carolina Everyone can find something to enjoy in the mountains of the Carolinas. You can drive the Blue Ridge Parkway or hike the Appalachian Trail for breathtaking views of mountains and sunsets. For history fans, get lost at the Biltmore Estate and learn more about the Vanderbilts. If you’re a fan of the nightlife,
Asheville is known as Beer City USA, with more than 30 breweries and over 100 local brews.
because the temperatures drop somewhat. If you love to see trees bursting with colorful leaves, hike the Baldwin Trail and Cookstove Trail. Sycamore, oak, and maple trees will shade you with their colorful canopies. Also, each year, the city holds a Day of the Dead celebration you can attend at the Tlaquepaque Arts & Crafts Village in late October. These are only three of the many breathtaking destinations you can visit this season. For more locations, go to TravelAndLeisure.com/ trip-ideas/fall-vacations/best-fall-vacations. So, what are you waiting for? Book your trip now, and don’t forget to pack a camera to capture the picture-perfect views!
2. Yellowstone National Park, Wyoming The wildlife in Yellowstone is active in the fall, so you’ll get a chance to see bison, elk, and eagles during your stay. You may even observe bears preparing for hibernation. If you love to be outdoors during the cooler months, then you will love biking, fishing, and hiking here during the fall. However, be aware that some roads will close for the winter in mid-October, so review park information ahead of time for accessibility. 3. Sedona, Arizona It may be too hot to visit Arizona during the summer, but the fall months are perfect
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