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F I N A N C I A L S E R V I C E S , L L C
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NOVEMBER 2021
LIGHTENING THE LOAD By Getting Rid of Old Documents
Eventually, the question will arise: What kind of paperwork should you keep?
is null and void. You don’t need to keep that paperwork, but you do need to keep your trust documents permanently. Never discard these, because you always want to have evidence of the original date when you started your trust. How do you update a trust? Well, it depends on the type of trust you have. For a living revocable trust, if there’s a lot of information that needs to be updated, including tax-sensitive information or family information, it’s much easier to restate your trust. This means that you can keep the original date and name on the trust, but update any other information any time you want. Some people have irrevocable trusts, which means that they’ve signed their assets into a trust and no longer have control over them. Since you’re giving up control, custody, and care over these assets for the rest of your life, you really want to make sure you’ve crossed all your t’s and dotted all of your i’s. Be sure to ask any questions you may have because the trust can never be changed. As you look at your filing cabinets and all of those reports you kept over the years, it may be time to lighten the load. Shredding all of the old paperwork disposes of your documents safely and ensures your information won’t be compromised. So, visit our shredding event and let us help you keep your records up to date. In the future, we’ll be talking about Generational Vaults. With this tool, you can keep important documents online so you don’t have to store them in your house. (Though you certainly can keep hard copies, if you choose.) I’ll discuss this with you individually as we meet, but if you
The IRS can look back at your taxes for any reason for three years, and they can go back up to five years if they suspect fraud. After five years, the IRS has no jurisdiction over your return. So, in simplistic terms, you could dispose of anything that’s more than five years old from the last filing date. We suggest actually keeping two more years of filings, or seven years total. After seven years, standing expires for some legal issues, and other information in your taxes may be helpful to have access to for a bit of extra time. The rules are similar for investment attempts. If you’ve ended an investment, you should hold your paperwork for 3–5 years because of the potential for an IRS audit. If you experience one, you will want to have all information available without having to track it down or request it from your supplier. After seven years, in my opinion, it’s clean- sweep time. Sort through everything and get rid of it! Those canceled checks you have from 20 years ago, affidavits, summons, taxes, and so on, lose their relevance after seven years. You can lighten your load, package up all the old paperwork, and bring it down next year when we have our shredding event. In terms of your trust paperwork or wills, it’s important to understand that the last instrument you sign and date will be the one held up in court. In other words, if you sign a new will today, everything you signed previously
have questions about storing documents online in your electronic vault, give us a call at 616- 514-3314 or 800-536-8907 or visit us online at MattsonFinancial.com. By the time you read this newsletter, we’ll have hosted our last event of 2021 — the new James Bond movie. This is the last Bond movie for Daniel Craig, and I have to say he hit it out of the park. He’s definitely a Bond I will miss. (I say this every time there is a new Bond and they do well. The only one I didn’t like is Roger Moore. Sorry, Roger.) As 2021 closes, we look forward to hosting many more events. You can always check our website to see what events are coming up. We appreciate you allowing us to be your advisor. Any time you have questions, please reach out to us so that we can give you the answers you need for a stress-free retirement.
–Gary Mattson
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THE FIRST THANK
W
Every Thanksgiving, we gather with our families and friends and pig out. Turkey, cranberry sauce, and stuffing, oh my! But did the Pilgrims actually eat all the same foods we do today? When we sit down at the Thanksgiving table, we are blessed with mashed potatoes, candied yams, green bean casserole, turkey, stuffing, and pumpkin pie. However, if we wanted to be historically accurate, we would need to change up that dinner spread a bit. Historians know of a few foods on the table that Pilgrims and Wampanoags shared at Plymouth Colony in 1621. Wildfowl, corn (in grain form for porridge), and venison were sure to be served at the first Thanksgiving. Wild turkey was also a common and abundant food source but wasn’t likely the main course as it is today. A few days before the first Thanksgiving, the colony’s governor put four men in charge of hunting for birds for the feast, and they very likely returned with some turkey.
COMPARISON SHOP LIKE A CHAMP During the Holiday Season
The holiday season can be expensive. Sure, you might describe this time of year with less cynical words like “magical” or “warm,” but unfortunately, most stores don’t accept magic or warmth as legal tender. Whether it be for gifts or for holiday meals and treats, most people want to get the most for their money while saving their time and energy. That’s what makes comparison shopping in the age of technology so worthwhile. In case you didn’t already guess its meaning, “comparison shopping” is simply when you compare prices of the same or similar products at different stores or online retailers. You’ve probably done comparison shopping without knowing you were doing it. However, once you truly embrace the concept, you can increase your savings. Plus, by using the bevy of online price comparison tools, you can do so without scrambling around to every store in town.
The best deal isn’t always the lowest price. If you’re buying gifts online, be sure to take shipping costs into account. They might end up making the cheaper option more expensive in the end. You should also take a look at the return fees, in case these could drive the price up significantly. Look at the per unit price for food. If you’re buying groceries for Thanksgiving dinner, sometimes the item that’s more expensive at face value is actually cheaper per unit. That can mean you’ll save money overall by buying in bulk. Be wary of markups . Black Friday can leave you feeling frenzied, and that’s not always when stores have their best deals. In fact, many of them mark up their prices (sometimes “discounting” them back to their regular price) in preparation for that day. It’s a good rule of thumb to be wary of massive “sales” at big retail locations. If you want to know where you can compare prices, take a look at any one of these apps: Google Shopping, PriceGrabber, Shopping.com, Idealo, Shopzilla, BuyVia, NowDiscount, ScanLife, or ShopSavvy.
If you want to comparison shop like a champ this holiday season, here are a few general tips.
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KSGIVING What Was on the Menu? However, as far as mashed potatoes are concerned, in the early 1600s, most Europeans and the Wampanoag had no idea what a potato was. They weren’t cultivated in North America until the 1700s. Likewise, cranberries were still very new to the Pilgrims, and they didn’t yet use them for food — instead, they used them to make dyes for fabrics! For dessert, pumpkin pie was not yet a thing either. Although the Pilgrims liked pumpkins, they didn’t have the butter and wheat flour needed to make pie crust. Instead, they hollowed out the pumpkins (just like Halloween!) and filled them with milk and honey to make a custard and then roasted them. Although our Thanksgiving meals have changed over the years, it still is a fantastic time to get together and celebrate. In the spirit of evolving traditions, don’t be afraid to innovate to add your own personal traditional twist to the holiday as well!
Upcoming Events Join us at one of our financial webinars or other fun events. Visit MattsonFinancial.com/events to stay up to date! TAKE A BREAK!
ABIGAIL’S
EASY PUMPKIN BROWNIES
If you have a hard time choosing between chocolate cake and pumpkin pie on Thanksgiving, this 2-for-1 treat will knock your socks off.
Ingredients
•
1 box brownie mix, plus other ingredients listed on box
• • •
6 oz cream cheese, softened
3 tbsp sugar
• •
1/2 cup chocolate chips 1/2 can pumpkin purée
1 tbsp pumpkin pie spice
Directions
1. Preheat the oven as directed on the brownie box, then make the brownie mix. Fold in chocolate chips. 2. In a medium bowl, combine pumpkin purée, cream cheese, sugar, and pumpkin pie spice. 3. Choose your pan as directed on the brownie box. Grease it if needed. 4. Pour half of the brownie mix into the pan and spread evenly. 5. Add the pumpkin mixture to the pan, evenly or in a pattern. Cover with the rest of the brownie mix and spread evenly. 6. Bake as directed on the brownie box, adding 10 minutes to account for the pumpkin. Test for doneness, and when your toothpick comes out clean, cool and enjoy!
Solution
Inspired by TheCookieRookie.com
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F I N A N C I A L S E R V I C E S , L L C
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INSIDE THIS ISSUE
1 2
Is It Time to Lighten the Load?
The First Thanksgiving Menu
Comparison Shop Like a Champ This Holiday Season
3
Easy Pumpkin Brownies
Mark Your Calendar!
Why You Should Visit New England for Thanksgiving
4
**Reminder: If you have any changes to your financial situation, please notify us as soon as possible.
Investment advisory services offered through Mattson Financial Services, LLC, an SEC-Registered Investment Advisor. Insurance and annuities offered through Lakeview Financial Group, LLC. Mattson Financial Services, LLC and Lakeview Financial Group, LLC are affiliated companies.
Why You Should Visit New England During Your Thanksgiving Weekend
Last year, travel restrictions kept many families from gathering together in their homes for Thanksgiving dinner. This year, it appears that people will be able to travel freely to most locations. While a “destination Thanksgiving” might not be something you’ve ever considered, for some families, it can mean the perfect blend of quality fun and family time in an exciting new city. So, why not take advantage and bring your family to visit New England, the part of the country where Thanksgiving began? If you need more reasons than just the origin of a famous holiday, consider the scenery. If you’ve never visited New England in the fall, it’s something that every person should do at least once in their lives. The variety of colors on display in the trees throughout the quaint downtowns and nearby forests is completely unique to that part of the country. There’s a
reason that “visiting Boston in the fall” has become not only a popular vacation but also part of the American lexicon as well. As for what you could do when you’re in New England for your Thanksgiving weekend, there are a few popular destinations you just have to see for yourself. First and foremost among these are the Plimoth Patuxet Museums. When you visit, you’ll be transported back in time to one of the earliest settlements in the United States, where the Pilgrims and the Wampanoag people shared the first Thanksgiving dinner. Other fun destinations in that immediate area also include wandering the quaint historic downtowns of Ipswich, Sturbridge, or several other colonial era towns. You can also find tons of fun shopping destinations in Beverly, Massachusetts. If you want your experience
to be a little more rural, you can travel out to Lake Winnipesaukee in New Hampshire, or Woodstock, Vermont, to experience a true traditional Thanksgiving celebration at Billings Farm and Museum. Even though your family might not be used to traveling for Thanksgiving, how many opportunities will you have to visit Thanksgiving’s birthplace during the season? It’s the kind of vacation you don’t want to miss!
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