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WE A L T H
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(520) 325-1600 WWW.SHEPHERDWEALTH.COM
OCTOBER 2018
DEVELOP YOUR ‘JUST IN CASE’
Plan
Your Life Needs a Safety Blanket
A few weeks back, I met with two clients on the same day who had both recently lost their husbands. A week later, another client and a good friend I’ve known for over 20 years tragically lost his life in a bike accident. As I reflected on these events, I thought again about how these life-altering occurrences relate to our finances. I’ve come to realize that how we think about asset protection is just as important as growth. So much of the conversation surrounding money management is focused on building wealth, but what about protecting it and dealing with life’s adversities? Having a “just in case” plan for these moments is tremendously helpful, reassuring, and necessary. To put this in perspective, let’s reference the exercise we focused on last month. If you’re setting goals in five-year increments, is there a “just in case” plan on that timeline for the insurance, car insurance, life insurance, or long- term care insurance for some of those “just in case” issues. Saving for a lifetime, investing, and striving are all about having “enough” at some point. But here is what is unplanned for or maybe not discussed: “He/she handled all the yardwork/handyman tasks/car repairs/bills/ unexpected and unhoped-for adversity? Just in case … People use homeowners
shopping, etc. I wish I could discuss all of these important things with them.” When you lose a loved one, your entire life paradigm is completely torn to shreds by the complexities of loss and the burden of unpredictable emotions.
cancer herself. And now she is fully responsible for picking up the pieces and learning the finances. I’m glad we can help her. Without a “just in case” plan, processing grief is made even harder because you also have to worry about money. Working in wealth management means we help with your “just in case” plan by maintaining assets and prioritizing your financial well-being. But a “just in case” plan is not all that there is that you should be working on for your life. Eating right, exercising, and having fun should all be a part of your life’s preventive planning. Muscle mass is a key indicator for men living longer. 50 percent of people who break their hip die within a year because their mobility is now limited and sickness can lead more easily to pneumonia. Staying strong and confidently mobile is important for your health. Health complications and declines make your “just in case” plan even more important. The best “just in case” LIFE plan may come from a new quote I just found: “Set peace of mind as your highest goal and organize your life around it.” –Brian Tracey -Dave Shepherd
WHEN YOU LOSE A LOVED ONE, YOUR
I just celebrated our 38th wedding anniversary. I have no idea what it’s like to go through life without my wife by my side. The other day, I spoke with a woman who had been married for almost 56 years, and when she lost her husband, she lost half of herself. While one new client was dealing with the fallout of her husband’s cancer, she was diagnosed with ENTIRE LIFE PARADIGM IS COMPLETELY TORN TO SHREDS BY THE COMPLEXITIES OF LOSS AND THE BURDEN OF UNPREDICTABLE EMOTIONS.
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THERE’S AN APP FOR THAT? HOW TO REWIND LIFE’S CLOCK USING SOCIAL MEDIA
4 AREAS TO BE CONFIDENT ABOUT
In the cover, we focus on how developing a “just in case” plan will help not just you and your estate, but also those who have to navigate the emotional gauntlet after your passing. There is perhaps no more difficult situation to endure than losing a spouse. That’s why we wanted to take you through the four areas you need to be confident about after your spouse passes so that you can focus your attention on healing. FINANCIAL STABILITY Doubt about your money can immediately draw attention away from the memory of your spouse and add stress. Learn the details of your family’s finances ahead of time to ensure you are financially stable. Not having to worry about this area will help greatly. HEALTH Depression can derail your health faster than almost anything. In the tough times, it’s important to take care of your body and make sure you’re not ignoring warning signs that might lead to complications down the road. A proper, nutritious diet and exercise help tremendously. CHANGE IN RELATIONSHIPS Strive for and maintain supportive relationships. Death can change some relationships, causing new social situations that are unfamiliar. This can leave you trying to cope with grief without the support structure you have grown used to. Going through a loss of this magnitude is not a venture you can take on by yourself. Make sure to lean on those closest to you after going through a painful experience like this. PURPOSE Feeling like you’ve lost your purpose in the life the two of you had can be very disconcerting. Defining your purpose can be a challenge, but purpose is what gets you through life’s adversities. Without your partner, you will have to redefine how you view your life’s purpose. Wealth management is about helping you chart this path in the proper way so that you can live a successful life before and after tragedy. If you have more questions about any of these steps, reach out to us today and let us help. AFTER YOUR SPOUSE PASSES
One of the hardest challenges of aging isn’t coping with the physical changes or new limitations associated with getting older; it’s finding new groups of people with similar interests, especially for empty nesters. Many adults build their peer networks around their children, making them the focal point of conversations with other parents in similar situations. But as children grow older and eventually leave home, parents are forced to adjust to their dwindling social lives. While some adults thrive in meeting new people, many struggle to find ways to connect with their peers. Fortunately, there are apps for that. EASY FACEBOOK FOR SENIORS The mother ship of social media can sometimes be more of a maze than a way to connect with others. Facebook took notice of this and created a simplified version of the app specifically designed for those who want to avoid all the distractions. Ease of use makes the opportunity to connect with others who have similar interests simpler than ever. OURTIME Dating in your 50s can be tricky, especially when many singles are looking for specific requirements in a partner. Some are seeking casual relationships, while others are looking for someone to grow old with. OurTime is a dating app that allows seniors to find partners with similar values, priorities, and passions. It’s a great way to find new people to share the golden years with. SKYPE You don’t have to wait for the holidays for your next group gathering; Skype allows you the opportunity to have video chats with anyone who has a smartphone. Maybe your conversation about the football game got cut short at church, or maybe you never finished your discussion at book club. Whatever the occasion, Skype gives you the option to connect with the people around you, even when you don’t feel like leaving the comfort of your house.
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'WEALTH MANAGER' : TITLE OR RHETORIC? What a Financial Advisor Really Does
What’s in a job title? In some cases, titles are very basic and explain precisely what a person does. “Teacher,” for example, is self- explanatory; they teach and educate. In other cases, job titles are outrageously complex, and no one understands what the person does. “Wizard of lightbulb moments” is certainly a fun title, but what does the person actually do? The position “wealth manager” is used by many who don’t live up to the title. Just because the title implies that the person does more than managing your money doesn’t mean that’s what they are doing. Here are four major
achieve investment returns to meet your goals, but also help mitigate unforeseen losses from mistakes or market surprises as well as minimize taxes. WEALTH PROTECTION Life has a way of presenting challenges that can impact your money unexpectedly. Market swings, divorce, death, disability, lawsuits, accidents, or other events can subject your assets to losses or seizure. Wealth managers help in all these areas. WEALTH TRANSFER Most people aren’t building portfolios just for their own benefit. For many, passing on the fruits of your labor is just as important as growing your wealth in the first place. Making sure your holdings are passed tax-efficiently
and simplified is just as crucial as building and protecting them. A wealth manager can help balance all your priorities in these areas. CHARITABLE GIVING Donating to causes you are passionate about is just as much about managing money as making sure there is enough money to contribute. Many times, looking at your whole picture can find tax savings that can enhance where you would like to help. It’s pivotal to understand that these elements are all important and interact with each other. Always consult an attorney or tax professional regarding your specific legal or tax situation.
aspects of wealth management. WEALTH ENHANCEMENT
Asset growth can happen in many ways. Wealth managers help figure out how to
TAKE A BREAK!
Inspired by Saveur magazine
BRUSSELS SPROUT AND Kale Salad
DIRECTIONS 1. Trim stalks off of Brussels sprouts. INGREDIENTS • 1 pound Brussels sprouts • 1 bunch kale, destemmed and finely chopped • 2 tablespoons whole grain mustard
• 4 tablespoons fresh lemon juice • 1/2 cup extra-virgin olive oil • Kosher salt and fresh ground pepper, to taste
2. Using a mandoline, food processor, or very sharp knife, shred Brussels sprouts very finely. 3. In a large bowl, whisk together mustard, olive oil, and lemon juice. Add kale and Brussels
sprouts and toss to coat with dressing. 4. Season with salt and pepper to taste.
Investment advice is offered through Shepherd Wealth Group, a Registered Investment Advisor doing business as Shepherd Wealth & Retirement. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Registration as an investment advisor does not constitute an endorsement of the firm by securities regulators, nor does it indicate that the advisor has attained a particular level of skill or ability. Content should not be construed as personalized investment advice or as an offer to buy or sell, or a solicitation of any offer to buy or sell any securities mentioned. Certain content was prepared by a freelance journalist.
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It’s Time for a ‘Just in Case’ Plan
Turn Back Time With Social Media
4 Areas to Be Confident About After Your Spouse Passes
Is ‘Wealth Manager’ a Title or a Description?
Brussels Sprout and Kale Salad
The Birthplace of Halloween
The Real Halloween Town
COUNTY MEATH, IRELAND, WHERE HALLOWEEN BEGAN
F ans of Halloween don’t need to look far to find somewhere to celebrate their favorite holiday. There are festive parties all over the world, from New Orleans to London, but if you really want to embrace the spirit of Halloween, there’s no better destination than the birthplace of the holiday: County Meath, Ireland. Every year in Boyne Valley, the residents of County Meath throw a month-long Halloween celebration. The Spirits of Meath Halloween Festival attracts thousands of guests from all over the world, and while this festival has only been celebrated since 2009, many of the traditions observed here date back to ancient times. The ancient Irish weren’t trick-or-treating or visiting haunted houses on Oct. 31, but they were celebrating the pagan holiday Samhain. Over 3,000 years ago, this Celtic festival was born in Meath and marked the end of the harvest. Samhain was celebrated with
bonfires, offerings to fairies, and other rituals meant to keep evil spirits away. Many of these customs carried through the centuries and inspired Halloween traditions that are still practiced today. Today, Meath celebrates Oct. 31 with a blend of spooky thrills and traditional Samhain practices. The Spirits of Meath Halloween Festival starts with the lighting of the first torch fire of Samhain in Athboy, which kicks off a month of fun activities. If you like your Halloween extra spooky, the scream park, Farmaphobia, is waiting for you. And if you’re not a fan of screaming your head off, you can check out the Halloween-themed Spookling Afternoon Tea for fresh-baked treats and spirited conversation. The motto of this all-ages festival is “Fun by Day; Frights by Night,” meaning all the really scary ghosts wait until after sunset to come out. There are plenty of ways to celebrate Halloween, from carving jack-o’-lanterns and eating chocolate to running for your life through a haunted corn maze. And in County Meath, you can celebrate Halloween in every possible way. For more info, visit www.Discoverboynevalley.ie/whats-on/spirits-meath-halloween- festival-2018.
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