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Building Smarter Plans and Lifelong Partnerships
4230 Pablo Professional Court Suite 101 Jacksonville, FL 32224
4711 US Highway 17 Suite C-5 Fleming Island, FL 32003
904-232-8760
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March 2024
Generations of Love From Grandparents to Great-Grandparents
Last month, I was focused and energized — and I still am! This month, I am also inspired. Spring is the season of new beginnings. Around here, new beginnings take on a special meaning with the celebrated birth of Aria Taylor, daughter of Andrea, our director of first impressions, and her husband Malcolm. With birth, new roles are also born — those of parents, siblings, cousins, aunts and uncles, and, of course, grandparents. It is such a thrill when our clients achieve these enjoyable and rewarding milestones. Some even embrace the title of “great-grandparents.” Whether you have one grandchild or great- grandchild, or a whole bunch of “littles,” whether you live nearby or far away, there is one common theme: The joy of grandchildren is measured in the heart. And, for all grandparents, this unconditional love is limitless. It is a common perception that grandparents spoil their grandchildren! I believe there is no such thing as a child being loved too much (by you or others); however, I am here to make sure you take smart steps when it comes to helping your grandchildren financially. Just like when we create your SMART retirement plan, we will do so, together, when you reach the status of loving grandparent. We want you to embrace grandparenthood in ways that make sense for you and in ways that will shape memories the younger generation will cherish and treasure all their lives. We know you have the best intentions when it comes to helping your grandchildren. We
just don’t want you to compromise your retirement funds, so we say to you to please make sure you take care of yourselves first, financially. We can review your plan and guide you accordingly. You can help your grandchildren and great- grandchildren through many life stages when it comes to financial support, including day care expenses, private school and post-high school tuitions, weddings, housing expenses, and everyday expenses. Then consider birthdays, holidays, and rewards for achievements/accomplishments. The list is plentiful, and opportunities are many. So, what are some of the ways you can help support your grandchildren? Florida pre-paid college plans have served well for many of my clients over the years. Robust state-sponsored 529 plans, primarily designed for higher education costs, have many beneficial components, including but not limited to tax-free growth and qualified withdrawals, K-12 private school tuition, transfer of funds to another family member, and converting unused funds to a Roth IRA. Superfunding a 529 plan is a terrific strategy for many grandparent clients. In addition to a multitude of savings accounts, other lesser-known means of contributing financially to the younger generation include life insurance policies (literally, a lifetime gift) and custodial UGMA/UTMA accounts (your control, with a high degree of flexibility).
You can match money your grandkids save throughout the years, which incentivizes them to save. This practice is an excellent illustration and lesson reflecting the principles and benefits of employer- sponsored plans later in life. I like to remind my clients they have many ways to help the younger generation without involving money. You are limited only by your imagination. Just think about what YOU remember about your own grandparents, and you will realize many memories do not even involve money at all. You have more time on your hands than you did when you were raising your own kids. Use that time to research ways in which your kids, grandchildren, and great- grandchildren can save money in various aspects of their lives. Money saved is money earned. Share your wisdom! We want you to realize, too, that YOU are “the gift” and that you are not a revolving piggy bank. Remember, guiding your grandchildren toward financial independence involves more than gifting money. Be a role model when it comes to fiscal responsibility and how money works. Let the wealth of your knowledge and real-time experiences, both wins and losses, shape their financial destiny — it is a legacy of empowerment and prosperity. Call us and let’s have a conversation. I look forward to hearing all about your grandchildren. Your family is our family. And don’t forget to bring the pictures!
-Adam Wolf, CPA, CFP ®
Investment Advisory Services offered through Coyle Capital, LLC, a Registered Investment Advisor. Wolf Retirement Navigation LLC and Coyle Capital, LLC 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. 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. Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Any references to protection of benefits or lifetime income generally refer to fixed insurance products. They do not refer, in any way, to securities or investment advisory products or services. Fixed insurance and annuity product guarantees are subject to the claims‐paying ability of the issuing company and not offered by Coyle Capital, LLC.
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Welcome to the new phase of life every parent faces, the empty nest. It’s that bittersweet time when the last child packs up and leaves only echoes in their once bustling rooms. Suddenly, the soundtrack of your life has shifted from a lively chorus to silence. For 18 years or more, school runs, sports practices, and the ever-present hum of family life framed most of your days. Now, your home feels a tad too spacious. It’s normal to miss the commotion and the constant interaction with your children. But you are entering an exciting new chapter in your life, just like your children are. Your role as a parent is simply evolving. You’ve been their guide, teacher, and protector for years, and those roles don’t just disappear — they transform. Your children will still look to you for support and guidance; this is your chance to be there for them in a new way. There’s no reason to be cut off from your children. Stay connected through texts, FaceTime calls, and good old-fashioned phone conversations. Discuss their new experiences and share your own. Arranging in-person visits can turn into new traditions for your family. Allow yourself to enjoy this different but equally rewarding aspect of parenthood. Now, let’s turn the spotlight on you. This is your time, a golden opportunity to focus on self-care and personal growth. Remember HOW TO ENJOY THE EMPTY NEST
those hobbies you shelved when parenting took center stage? Dust them off and give them a whirl! Painting, hiking, learning a musical instrument, or even skydiving — there’s no better time to explore old or new interests. With fewer responsibilities at home, you can pack your bags and explore. Whether across the globe or the state, travel refreshes your spirit and broadens your horizons, offering perspectives that can only come from stepping out of your comfort zone. Life doesn’t stop teaching, and we never stop learning. Your nest might be empty, but your life is full of opportunities waiting for you to seize.
Retirement is a legacy, and although one of our fondest clients, Diana (known and loved by all as “Mama”), is no longer with us, her legacy lives on in our memories and via this lovely picture shared with us by her daughter, Susie. We vividly remember every time she would come to our office, she would gleefully check out our stash of Ghirardelli square chocolates, with all the excitement in the world, like a kid on Christmas Day. First, she’d pick one — then she’d choose another flavor and then another flavor, and so on and so forth. Everything Diana did put a smile in our hearts. She was lovable and precious and had the most optimistic viewpoint of life. You couldn’t help but want to hug her. All 4 feet, 9 inches, of her were endearing and sweet. We have such wonderful remembrances of her. Even when Adam would visit Mama at home, knowing that the candies were her favorite, Adam would bring the Ghirardelli squares along with him — especially sea salt caramel, her favorite. We will always cherish the first time we met her in the spring of 2016 and then, later on, watching Mama delight in some of our client-appreciation events, such as Galentine’s Day. So, this year, as we celebrate a decade of milestones, we remember Mama as the true blessing she was — and is — to all of us. To know Mama is to love Mama! Thank you, Susie, for sharing Mama with us one more time! HONORING MAMA’S LEGACY Sweet Memories and Endearing Moments
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2 LOCATIONS TO SERVE YOU! Jacksonville & Fleming Island
ARIA HAS ARRIVED! A Precious Addition to the Wolf Retirement Navigation Family
We’re thrilled to announce the arrival of Andrea’s precious baby girl, Aria Taylor Buchannon, born on Sunday, January 21, 2024, at 12:01 a.m., the day before her older half-sister was born years ago. She weighed 7 pounds, 3 ounces, and measured 20 inches. Our hearts are overflowing with joy and gratitude as we welcome this new little bundle of happiness into the world and our Wolf Retirement Navigation family! “Immediately right after her birth, I kept thinking to myself how I couldn’t believe I just did that,” Andrea tells us. “As they placed her on me, everything fell silent. I was in total awe of her at that moment in time. My husband Malcolm and my mom were amazing cheerleaders and helped me to make it through this crazy thing we call ‘childbirth.’”
While it’s easy to assume that Andrea came up with Aria’s name from the popular “Game of Thrones” television series, Andrea surprises everyone when she tells them that she was actually inspired by the novel Pretty Little Liars many years ago, and she bookmarked the name for when her time came to become a mom. The past month has gone by way too quickly for Andrea as she hangs on to every special moment with her sweet baby daughter. “It’s quite something to finally get to hold her. I dreamt of her and imagined what she’d look like and act like, and now I have the opportunity to sit and stare at her while I take in all of her adorable facial expressions and little movements,” Andrea relays with a smile.
Andrea and her husband plan to take Aria on her first Disney trip sometime in the fall once the weather has cooled off a bit and Aria is a little older. We will be sure to update you all with photos and a recap of their magical trip to Orlando! Andrea and Malcolm, we are so excited for you! Welcome to the world, beautiful Aria!
Take a
Break!
St. Paddy’s Irish Soda Bread
Inspired by Epicurious.com
INGREDIENTS
• •
Nonstick vegetable oil spray 2 cups all-purpose flour, extra for dusting
• •
3/4 tsp baking soda
3 tbsp chilled unsalted butter, cubed
• • •
5 tbsp sugar, divided 1 1/2 tsp baking powder
• •
1 cup buttermilk 2/3 cup raisins
1/2 tsp kosher salt
DIRECTIONS
1. Preheat oven to 375 F. Coat an 8-inch round cake pan with nonstick spray. 2. In a bowl, whisk together flour, 4 tbsp sugar, baking powder, salt, and baking soda. Cut butter into the mixture with your fingers or a pastry knife until crumbly. Make a well in the center and pour in buttermilk. Gradually mix until dough comes together. Mix in raisins. 3. Using floured hands, form dough into a ball and transfer to pan. Sprinkle with remaining 1 tbsp sugar. 4. Bake bread for about 40–45 minutes or until golden brown and a tester stick comes out clean. Let bread cool in the pan for 10 minutes, then enjoy!
Solution on Page 4
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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
904-232-8760 www.wolfretirement.com 4230 Pablo Professional Court Suite 101 Jacksonville, FL 32224
Solution to puzzle from Page 3
INSIDE Legacy of Love PAGE 1 Embrace the Empty Nest PAGE 2 Celebrating Mama’s Legacy PAGE 2 Andrea’s New Baby Has Arrived PAGE 3 St. Paddy’s Irish Soda Bread PAGE 3 Exploring Sintra, Portugal PAGE 4
This Beautiful City Is Straight Out of a Fairy Tale ADD SINTRA, PORTUGAL, TO YOUR TRAVEL PLANS!
Pena Palace and Gardens The National Pena Palace and Gardens are absolutely stunning. The palace is adorned in primary colors, with intricately carved yellow, red, and blue buildings. It’ll cost you 10 euros to explore the grounds and a couple of extra euros to go inside, but it’s worth it! The carvings include many styles, including Neo-Islamic and Neo-Renaissance. Everything is opulent, and you’ll have a great time as you take in the extravagance. Some rooms are painted as an optical illusion, with doors and hallways looking three- dimensional when they’re just flat. Once you head back outside, the rest of the grounds are just as lovely. The enormous gardens have many trails, marked and unmarked. You can get lost in the beautiful oasis, and we encourage you to put aside at least half a day to explore the gardens.
Quinta da Regaleira Quinta da Regaleira is the city’s second significant castle boasting beautiful gardens, but its main draw is the initiation well. This 80-foot-deep well is a wonder as it sinks into the earth with mossy walls. We suggest you go early, as this is another big attraction for those visiting the city, and officials try to keep people moving as they arrive, mainly as it’s one-way traffic on the steps themselves. Once on the grounds, you can explore many grottos by following their main paths. The castle itself isn’t as opulent as Pena Palace, but it’s still a lovely location to visit. Sintra is perfect for any vacation, and though these are the main draws for the city, by no means are they the only ones. We encourage you to check out this city and see if it fits your travel plans.
As spring break nears, you might already have plans to travel to Punta Cana, London, Key West, Paris, or a similar destination city. One more to add to your travel checklist is Sintra, Portugal. This beautiful town rests on the hills of Serra de Sintra, just outside the capital, Lisbon. The two castles within the city are the main draws, and it’s easy to see why.
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