Wolf Retirement Navigation - March 2020



4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224

4711 US Highway 17 Suite C-5 Fleming Island, FL 32003

As seen on:

March 2020

46% Lucky

How to Prepare for a Lucky Opportunity

A while back, my dad got really intrigued with checking out Ancestry.com. He even took their DNA test. That’s how he found out he was 17% Irish. This was surprising because we had no idea. On the other side of my family, my mom has always been proud to say she’s 75% Irish, a fact she was able to back up when she took a DNA test as well. Now, I don’t trust those testing companies with my DNA. Some of their “terms of service” contracts have some pretty weird stuff hidden in the fine print. But since St. Patrick’s Day is coming up, I got interested in my own Irish heritage and decided to do a little math. I added my parents’ Irish heritages together, divided by two, and called it a day. If the luck of the Irish is a real thing, then it looks like I only have 46% of that luck. I don’t think we have to be Irish to be lucky. We are all miracles. In fact, I think every person alive, no matter his or her circumstance, is pretty lucky. Motivational speaker Mel Robbins once claimed that the odds of your being born are 400 trillion to 1. And the odds of being born in the United States and living with all the opportunities we have today — that’s nothing short of a miracle. Investment Advisory Services offered through Retirement Wealth Advisors (RWA), a Registered Investment Advisor. Wolf Retirement Navigation LLC 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

I do believe in luck. I think it’s something we experience every day just being alive. But that luck isn’t something we should count on. We used up our luck just being born, so if we want anything else out of life, then we need to be willing to make it happen ourselves. There’s an old saying often attributed to Roman philosopher Seneca: “Luck is what happens when preparation meets opportunity.” If you want to feel lucky, you need to put in the hard work so you are prepared to take advantage of those “lucky” opportunities. This is something I think about every day when helping people plan for their retirement futures. When it comes to retirement, you can’t hope to get lucky. Banking on winning the lottery or investing in a perfect stock market scenario isn’t going to give you the lifestyle you have always envisioned for a prosperous retirement. It’s better to put in the work to increase your odds of being successful. Increasing your luck is all about being proactive in what you can control. You can’t control what the market will do, how healthcare costs will rise, or what changes the government will make to the tax system. But you can control your finances. We have strategies designed specifically for you to get on top of your professional before making any investment decision. This information is designed to provide general information on the subjects covered; it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Wolf Retirement Navigation LLC and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.

finances. You can control your market downside losses by electronically monitoring your principal-protected savings. We will show you how to do this. You can control your fees/expenses by knowing what they are and reducing excessive fees, if any. We can definitely help you with that. You can control your federal tax bill by projecting current and future tax rates with how they apply to your situation. We are knowledgeable in this situation, too. When you are prepared, every opportunity feels lucky. Why make life harder by just going off luck and not planning your own future? Like I said, we’re already lucky to be here, so we have to do some of the heavy lifting ourselves.

-Adam Wolf, CPA, CFP ®

Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed Insurance and Annuity product guarantees are subject to the claims‐paying ability of the issuing company and are not offered by Retirement Wealth Advisors.

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