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JULY 2018
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PATRIOT WEALTH
KEYS TO A FULFILLING RETIREMENT
Being happily retired is a dream for many. Whether it involves work, leisure, recreation, or a combination of these, a successful retirement varies from one person to the next. However, despite the varying notions of what having a successful retirement means, what you should know is that it is achievable. With some forethought and planning, a happy retirement is absolutely within reach. The key word here is planning . It might not be our favorite thing to think about on a day-to-day basis, but the last thing we need in our lives is a retirement full of struggles and challenges that could have been prevented. That’s why it’s essential to take the time to plan out your retirement years from multiple angles: financial, social, and mental. The most obvious facet of retirement planning may be the financial aspect. Running out of money during one’s retirement years is a common and understandable concern. As a result, even if you don’t like thinking about money or just don’t have an aptitude for finance, it’s still worth your time and effort to devise a financial plan for your retirement. This can be done on your own or with the help of financial software if you have some expertise in this area. But for many of us, financial advisement will be a necessary part of the process. There’s no shame in seeking an expert in such an important area of your life. Even if you do have a level of expertise in finance, there might be possibilities that you haven’t fully considered — possibilities that an expert in the field can help you understand.
Social considerations are no less important for retirees. If you’re only considering the financial aspects and neglecting your social life, it will be difficult to have a happy, well-rounded retirement. Choosing a living space in a community of like-minded individuals is one way to address the social facet of retirement life. Perhaps a religious affiliation or joining a club, group, or sport can provide some necessary social interaction. If this is not feasible, then computer and phone technology can help to fill the gaps in your social life. Additionally, although this consideration is sometimes neglected, care for one’s mental health is important throughout retirement years. Aging in a healthy way generally means staying active and exercising your mind on a daily basis. If you have completed your work-related responsibilities, perhaps some hobbies or volunteer opportunities can keep your mind active. Reading and writing are also excellent activities that retirees can use to keep the mind active and healthy. When there are mental issues that cannot be dealt with alone, it is also a good idea to seek assistance from a mental health professional. There’s absolutely no shame in asking for help from an expert in this area. Being and staying happily retired doesn’t just have to be a dream; it can also be a reality. Thinking ahead, planning appropriately, and staying active are all ingredients for success for a retirement that is satisfying and enjoyable.
Investment Advisory Services offered through Retirement Wealth Advisors (RWA), a Registered Investment Advisor. Patriot Wealth and RWA are not affiliated. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.
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DEBT CAN RUIN YOUR RETIREMENT BUT IT DOESN’T HAVE TO
When people approaching retirement are asked about their biggest fears, debt consistently ranks near the top of the list. That’s with good reason. According to finance company Comet, roughly 80 percent of American adults have some amount of debt. Many Americans will retire with a mortgage, car payment, or some other form of financial obligation. Obviously, retiring debt-free is the best outcome, but it’s simply not realistic for many people. That said, a little planning can go a long way toward making debt manageable after your career is over. Ideally, paying down debt should begin while retirement is still far off on the horizon. High-cost consumer loans, like those on credit cards, should be the debts you tackle first. A good rule of thumb is to start with the debt that has the highest interest rate. The longer that debt sits, the more you pay in interest. Many of these debts are not tax-deductible, so there’s no point in waiting for the optimal time to pay them off.
mortgages are tax-deductible, you may be in for a significant rate decrease once you retire. While the best strategy for you may be different than your neighbor’s, there are a few principles that apply to all cases. You need to be sure that your payments during retirement will be manageable on your reduced income. You should also never cash in your 401(k) or other retirement accounts early to pay off your mortgage, because you’ll incur serious fees for an early withdrawal. As you transition into retirement, you should reevaluate your budget. The more expenses you can reduce, the longer your resources will last and the less stressful any outstanding debt will be. You should also set aside at least three months of emergency funds if possible so that you won’t need to use credit if something unplanned happens. Retiring without any debt may not be an option for you, but that shouldn’t stop you from proactively planning to decrease debt before you stop working. Like the proverbial monster under the bed, debt is a lot less scary when you’re willing to stare it straight in the face.
As you get nearer to retirement, you should take a look at your mortgage and be ready to do some math. Because
KEEP PRODUCTIVE MOMENTUM WHEN EMPLOYEES TAKE A SUMMER VACATION
How does your business keep up productive momentum when employees jet off for a week or two? Every summer, this is a question that businesses all over the country try to answer. It’s also a question that impacts businesses differently depending on staff size and organization. Some businesses have enough folks on hand at any given time that the absence of a single person isn’t a big deal. But during the summer, the dynamic can change when more employees decide to take time off, especially one after another.
encourages people to get time-off requests in early, leaving your team more time to plan for the absence.
Second, implement time-off request deadlines. When you know a lot of people are going to want to take a few weeks off during the summer, ask that they put in their requests as soon as possible. It allows everyone time to plan so any work is delegated accordingly. On top of that, remind your team to get the requests in before booking any travel arrangements. That way, no one has to play the bad guy when a time-off request gets denied and a hotel booking hangs in the balance.
When employees take time off, things are more likely to slip through the cracks and productivity can
Third, encourage taking vacation. Work-life balance is critical when you want a productive team. Sometimes you have to reiterate that vacations are important, as numerous studies have confirmed. Too often, employees don’t plan vacations because they don’t want to compromise their job in any way, or they feel guilty about leaving. But when people don’t take time off, that’s when productivity takes the biggest hit. The longer people work without taking time for themselves, the more likely they are to experience burnout.
take a hit. However, having well-defined vacation policies in place can prevent issues from developing in the first place. First, be clear about the time-off policy. If you have one department of six people, a reasonable expectation is that only two people from that department may be out at a time. The policy of “first come, first served,” is one of the best ways to approach this situation. It’s fair, and it
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If you’re young at heart and looking to stay (or get) in shape this summer, consider taking a trip to the mall. No, not to pick up some hot new exercise product or dietary supplement, but to walk a few laps. Safe and convenient, “mall walking” has become one of the biggest trends in senior fitness. THE EXERCISE VENUE THAT WILL KEEP YOU COOL AND FIT THESE MALLS WERE MADE FOR WALKING
COOL IN THE SUMMER, WARM IN THE WINTER
This time of year, heatstroke can be a real concern when exercising outside. But that doesn’t mean you have to be a homebody. Because malls are spacious and climate- controlled, they make great year-round walking venues, especially when summer temperatures spike. You don’t even need to put on sunscreen!
REST STOPS ABOUND
While the average American shopping center isn’t as scenic as the Appalachian Trail, they are far more convenient. Replete with bathrooms, cool drinking water, and plenty of benches, the mall lets you focus on exercising and removes all of the “what ifs” that come with aging. Most malls are also outfitted with EMT kits in the event of a medical emergency.
KIELBASA KABOBS
INGREDIENTS
SQUEEZE IN SOME SHOPPING
• 2 pounds fully cooked smoked kielbasa • 2 large onions • 2 green bell peppers
• 3 red bell peppers • 2 cloves garlic, minced • 1/4 cup olive oil • Salt and pepper, to taste
It is still a mall, after all. Why not check a few items off your shopping list or reward yourself with a new pair of sneakers? Getting things done as you exercise makes the experience that much more rewarding. Just remember not to overdo it. Carrying too many shopping bags can place undue stress on your back — and your wallet.
DIRECTIONS
1. Heat grill to medium.
YOU WON’T BE ALONE
2. In a small bowl, combine oil, garlic, and a pinch of salt and pepper.
Today, malls are the second-most popular places to walk in America, after neighborhoods. Mall walking has become so big that many communities and senior living centers have put together official groups to stride together. Your local mall may already open early to accommodate walkers. So if you’re looking to make friends in an active, fun-loving community, do some research. Chances are there’s a mall- walking club near you!
3. Cut pepper, onion, and kielbasa into 1-inch chunks.
4. Thread onto skewers, alternating ingredients.
5. Brush with oil mixture and grill, covered, 10–12 minutes.
[NOTE: If using bamboo skewers, soak in water for 30 minutes before threading to prevent burning.]
Inspired by Good Housekeeping
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INSIDE THIS ISSUE
How to Have a Successful Retirement PAGE 1
Manage Debt Before and During Retirement PAGE 2
Don’t Let Employee Vacations Sink Your Business This Summer PAGE 2
The Benefits of Mall Walking PAGE 3 Common Misconceptions PAGE 4
LIES YOU’VE BEEN TOLD FICTION THAT HOLDS TOO MUCH WEIGHT
Fallacies are fed to us on a daily basis, and some are more believable than others. Here are a few popular misconceptions.
human. It isn’t in our eight-legged friends’ nature to crawl into a person’s mouth.
YOU USE ONLY 10 PERCENT OF YOUR BRAIN
CRACKING YOUR KNUCKLES WILL CAUSE ARTHRITIS
Your brain is constantly in use. Every single action you perform, including digestion, coughing, speaking, thinking, and breathing, are all carried out by processes in the brain. There are levels of consciousness that cause parts of your brain to be less active than others, but there isn’t one singular area that ceases to work for any long period of time.
Studies show that there aren’t any dangers to cracking your knuckles, besides annoying someone with the noise. For a long time, many speculated that the cause of the cracking or popping noise was either the resetting of joints and tendons or the formation of fluid that lubricates the joints. Dr. Donald Unger was the first person to conduct an experiment with the hypothesis that cracking your knuckles doesn’t lead to arthritis. He cracked only the knuckles in his left hand for over 50 years. Later in life, both hands were arthritis-free.
THE GREAT WALL OF CHINA IS VISIBLE FROM SPACE
While the size of the Great Wall is truly spectacular, that doesn’t mean it can be seen from outer space. It’s not at all visible from the moon, and even from low orbit, it’s difficult to spot the wall with an unaided eye. According to NASA, the theory was first shaken by Yang Liwei, a Chinese astronaut, who said he was unable to see the Great Wall from space. Later, a camera with a 180 mm lens and a 400 mm lens captured the wall from a low orbit.
YOU EAT SPIDERS WHILE YOU SLEEP
You may have heard this chilling myth before, but it’s simply not true. Spiders are very sensitive to vibrations — they won’t willingly approach a breathing or snoring
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