Campbell Wealth Management - October 2021

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Mapping Out the Keys to Financial Retirement Success The Secret Is in the Planning

October is National Financial Planning Month. At Campbell Wealth Management, our primary focus is to assist clients so they can realize their possibilities and work toward achieving their retirement goals. Over the years, I have worked with not only clients but also a number of financial advisors. I am always amazed at how few people practice financial planning as they enter retirement. More so, I am astonished to learn that a certified financial planner does not always do financial planning with their clients.

This must be done from both a financial standpoint and from a goal standpoint, because there is a difference! Everything requires planning — houses have blueprints and vacations rely upon maps or itineraries. Here in the office, we put together a process which we utilize for all of our clients. By using a one-page planning process, we get our plan down on paper, and this plan outlines the basics: income, investments, tax, and legacy.

When it comes to income, we take a look at where the retirement funds will come

Oftentimes, when financial advisors do participate in planning with their clients, they go through the effort to create the plan, but they never revisit that plan. To me, one of the most important things is planning at the beginning of the client relationship, highlighting what is important for the client to achieve, and mapping out how to achieve their goals.

from. Many have Social Security and pensions. If those income sources do not cover all of their income needs, then we take a look at our clients’ investments, whether they provide income or accumulation or a combination of the two. Next, we take a look at tax, one of the largest bills people have in retirement. If we can strategize to lower that expense, our client and their plan is in a much better position for the future. We also delve into legacy, which encompasses taking care of our clients’ families, and/or benefiting charities as efficiently as possible. This part takes little work, but it is work that needs to be done. Once the plan is discussed and mapped out, a process to achieve goals needs to be put into place, incorporating income, investments, tax, and legacy. The process we take starts with listing out all of the things that are important to the client (which often are financial based). For example, maybe they want to never worry about money or to ensure that their spouse is taken care of. Next, we get a little deeper and take a look at the emotional side of retirement, which I think is the most important. Possibly our client would like to travel to Greece or take their grandchildren to Disney theme parks.

Right on Retirement Formula

Income

Legacy

Investments

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Taxes

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Securities offered only by duly registered individuals through Madison Avenue Securities, LLC (MAS), member FINRA/SIPC. Advisory services offered only by duly registered individuals through Campbell Wealth Management, Inc (CWM), a Registered Investment Advisor. MAS and CWM are not affiliated entities.

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We may have shared this story in the past and it’s worth sharing again as it is extremely impactful and motivational. I met with a married couple many years ago. Upon our first planning meeting, I had asked what was important to them and what they wanted to accomplish. The wife stated that she wasn’t too fond of living in Virginia. Over the next few months, we planned out for them to spend the next few weeks, which then ended up being a much longer time, vacationing in areas that were away from Virginia. When I later asked the husband what his personal goals were, he blurted out that he wanted to skydive. His wife was not too thrilled about this, but he was set on it. I assisted him in setting him up with a plan and a location to do so. Unfortunately, his experience got rained out. The next time he was in the office, I got back on the phone and rebooked his excursion. Well, two weeks later, I ended up with a photo of him skydiving. A few years after that, he passed away, and at his funeral, there were a number of photos and memories. One of those photos was the same photo we have today in our office: his skydiving adventure. Plans, aspirations, and dreams are always possible! It all boils down to properly planning to make those dreams a reality. At Campbell Wealth Management, we are here, ready to help you to map out your road to a successful, relaxing, and fruitful retirement.

A list is a perfect tool to check things off one by one, like a chopping block.

After listing everything out, we detail the basics: income, investments, tax, and legacy. We mathematically prove to our clients how they can achieve those things and what is possible. Having a written plan in place allows us to set everything up from the beginning and to follow it on a regular basis, making necessary adjustments along the way. This provides efficiency in the process. Next, it is important for our clients to protect their finances. For example, if they have a 60% stock and 40% bond portfolio while the market continues to do well, their stocks may move up accordingly, but their bonds won’t do so well. As years go by, they may wind up having 90% of their money tied up in the stock market. This means that if the market turns downward significantly, they will be participating in that downturn, putting them at risk to lose 40%– 60% of their portfolio. The more we can protect their finances, the more we can prevent mistakes with any market. Lastly, resetting each year is paramount. Things change, and we always want to take time to see what else the client would like to accomplish and to add new things to their list. From there, we must build again to accomplish those new plans. It is a forever evolving process. We have been utilizing this process for years with clients, and it has brought significant success.

Kelly Campbell

Wealth Management Is Different for Women Identifying a Variance

Whether you are a single woman or married, it is important to understand that managing finances in the golden years and for retirement is different for women. But why? Women who are 55 years and older require a different wealth strategy than men do because statistically, women live 3–5 years longer than men. Due to this, the Social Security Administration estimates that roughly 75% of married women will be widowed in their lifetimes, thus they must be financially prepared.

accrued less over time. Women also invest differently than men. Men tend to put more money into

riskier investments while women are much more conservative on average. This may or may not be beneficial, but it must be balanced out and taken into consideration. It is essential that a wealth management plan considers these variables.

By covering all of their bases with a financial advisor, women can be sure that if they outlive their partner, they will be prepared and financially stable — free of worry. Whether women are married, divorced, widowed, or single, a written plan is necessary. And once it is written, it is even more important that it is followed and reviewed each year to account for changes and fluctuations. With a secure plan in place, the future is brighter!

Women tend to retire with less money in their retirement accounts compared to men, mainly because they typically leave work at some point in their lives to care for their children and generally

This is intended for informational purposes only and should not be construed as tax advice. Consult your tax advisor regarding your situation.

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The Tastiest Way to Save the Planet 3 Reasons to Eat Seasonally — Starting With Squash

The hashtag #SeasonalEating has been shared more than 140,000 times on Instagram, and it’s a movement that goes beyond social media. Chefs, farmers, and environmental activists are all jumping on the bandwagon! Here are just a few reasons why they might tell you to consider choosing fall produce at the grocery store this month. 1. It’s good for your taste buds. Imported produce is often picked green and gassed with ethylene to produce the signature color. So, it’s no surprise it doesn’t taste quite right! Eating seasonally will ensure that your produce is fresh and flavorful. 2. It’s good for your health . According to the Fairfax Times, studies have shown that foods grown and eaten in-season have better nutrient composition. “One study that examined vitamin C content

in broccoli found that broccoli grown in-season during the fall had twice as much vitamin C as broccoli that was grown out of season in the spring,” the paper reported. 3. It’s good for the planet AND your wallet. Foods grown in-season require fewer energy- and pollution-intensive inputs like heating and fertilizer, making them more eco-friendly. It’s also more likely to be grown in your area, meaning it traveled fewer CO2-producing “food miles” to get to you. For the same reasons, seasonal food is often more affordable for you to buy and for your local farmers to grow! The first step to eating seasonally is to look up seasonal foods in your area on a website like SeasonalFoodGuide.org or to visit your local farmers market. In many parts of the U.S., squash is one of the tastiest, most affordable

fall vegetables out there — and cooking with it is a great place to start.

If you can get your hands on butternut squash, try making the “Butternut Squash Soup with Crisp Pancetta” from FoodAndWine.com. If delicata squash is more your speed, check out LoveAndLemons.com for a great recipe for “Roasted Delicata Squash With Apples and Sage.” Last but not least, pick up a copy of “Squash: 50 Tried and True Recipes” by Julia Rutland for a full guide to cooking with squash. The crisp autumn sky is the limit!

Would you like to be a Campbell Wealth Management Ambassador? Would you like access to exclusive events?

Wellness & Wisdom Series

All you have to do is refer a friend.

Do you know someone who: • Wants to be better prepared for retirement? • Is looking for a second opinion regarding their portfolio? • Has gone through a major life event (death of a spouse, retirement, etc.)? Call us at ( 703) 535-5300 and let’s set up an introduction! If they are important to you, they are important to us.

Privacy Protection With Tim Cintolo Tuesday, Oct. 12 at 3 p.m. Normal Aging vs. Dementia With Lindsey Vajpeyi Tuesday, Nov. 9 at 3 p.m. To register, email us at Seminars@CampbellWealth.com.

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CampbellWealth.com (703) 535-5300 330 John Carlyle St., Suite 400 Alexandria, Virginia 22314

Inside

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National Financial Planning Month

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The Unique Benefits of Reading Fiction

Wealth Management Is Different for Women

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The Tastiest Way to Save the Planet

Save the Date!

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3 Haunted Destinations to Visit This October

Securities offered only by duly registered individuals through Madison Avenue Securities, LLC (MAS), member FINRA/SIPC. Advisory services offered only by duly registered individuals through Campbell Wealth Management, LLC (CWM), a Registered Investment Advisor. MAS and CWM are not affiliated entities.

Ghosts Across America 3 Haunted Spots Every Ghost Believer Will Love

October is one of the best months for travel in the U.S. With mild temperatures and gorgeous, colorful leaves everywhere, there’s no better time for a cross-country road trip. Add some Halloween flair to your October vacation with these three ghostly attractions. Visit the most haunted town in the U.S. —Waynesville, Ohio. Sure, New Orleans may have a spooky past, but it doesn’t compare to Waynesville. Many residents and visitors think this Ohio town is rife with ghosts. You may hear cries to “hurry up” at The Hammel House Inn, where many tunnels for the underground railroad came through, or you could see the apparition of a businessman from the 1800s who “never checked out.” Other sources report hauntings at the town’s historical society, Museum at the Friends Home, including a little girl who moves toys and sits on the porch. The society leans into the local fascination and hosts regular walking ghost tours and ghost hunting classes. Stay a while at Hotel Monte Vista in Flagstaff, Arizona. Guests at Hotel Monte Vista have often enjoyed long stays at the downtown Flagstaff, Arizona, hotel, but not everyone leaves. Constructed

in 1927, the hotel is host to a number of reported ghosts. The most well-known is an elderly woman who would spend hours rocking in the chair in her room. Today, her chair can be found moving on its own. Another popular visitor is the ghost of a bellboy who knocks on doors and announces that room service has arrived — only, no one’s there. Is there a monster in Pine Barrens, New Jersey? This one’s for those who love mysterious creatures. Pine Barrens is a mass of forested land that spreads across seven counties in New Jersey — and its most famous resident isn’t human. The Jersey Devil has a long, storied history and is said to be a combination of many animals: Its body is shaped like a kangaroo with wings. It has the head of a dog but the face of a horse. The creature is believed to have had a sickly start to life in 1735 and has stayed to haunt the forest’s inhabitants and even those who visit the area today.

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