Wolf Retirement Navigation - July 2020
RET IREMENT NAV IGAT ION
MONTHLY
4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224
4711 US Highway 17 Suite C-5 Fleming Island, FL 32003
As seen on:
July 2020
LAND OF OPPORTUNITY
From Lemonade Stands to Steakhouses
Happy Fourth of July!
My long-time clients will know that I love to eat, so it’s not surprising that the best summer job I ever had was working at a Texas Steakhouse during college. Despite having a lot of previous experience, when I came into the kitchens, I was at the bottom rung of a team of five. There were five grill cooks, myself included, and 15 other cooks and staff. Within two weeks, three of those other cooks had left. Suddenly, I was responsible for running the kitchen during weeknight shifts. That was a pretty great summer. I was really busy with school and work, but I didn’t have to buy a lot of food because I was always eating at work. Plus, I suddenly found myself with a lot of friends who were hoping I could get them free food from the nice steakhouse, too. I learned a lot of lessons that summer. Managing a kitchen was far different than just working in the kitchens at my previous jobs. It was difficult, but not impossible. We had a high volume of work because a lot of components go into making 300 to 400 meals a night. On Saturdays, we had at least 12 people working in the kitchen, cranking out a lot of food for a lot of people. That said, most of the work was done before the restaurant even opened for the day. Investing time for prep work saved us a lot of time later when we were actually cooking the food. Fileting the meat, 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.
making the sauces, and prepping the sides — all those things were done in advance. It took teamwork to get everything done. If you have a great meal at a restaurant, don’t just send your compliments to the cook. It takes multiple members of the team to get the food out right, especially when you’re trying to cater to each diner’s different taste. Everyone wanted his or her steak cooked at a different temperature with different sides and dressings. There was a lot of work in that kitchen, but the part I dreaded most was cleaning at the end of the night. At every restaurant where I worked, cleaning the kitchen was always the most exhausting task. When you run the kitchen, you don’t have to stay late to clean the kitchen like everyone else. You’ve paid your dues. But I learned that you’ve still got to jump in and help get everything done so everyone can go home. Though I haven’t worked in a kitchen for years, I still look back on those times fondly. I saw firsthand the value of a strong team, hard work, and investing your time wisely. These are also the values the United States was built on, and they’re what I celebrate each and every year on the Fourth of July. 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. -Adam Wolf, CPA, CFP ®
It’s been a pretty rough year for our country in many different ways, so I am really looking forward to celebrating Independence Day. The United States certainly has had its ups and downs recently, but there’s no denying this is the greatest country in the world. We have so many opportunities and freedoms in the U.S., and we just have to be motivated enough to take advantage of those opportunities and protect our freedoms. Even as a kid, I was looking for opportunities. Every summer, I put up a lemonade stand to make a little extra money. When I was 10 years old, I started cutting yards and raking leaves for many folks in our neighborhood. I’ve always had jobs. As soon as I was old enough to get a “real” job, I mainly worked in restaurants. After school when I wasn’t in football season and most of my summers were spent working in the kitchen at some restaurant in town.
My long-time clients will know that I love to eat, so it’s not surprising that the best summer job I ever had was working at a Texas Steakhouse.
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
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THEY’RE STILL AROUND! Beware of These Coronavirus Email Scams
While it seems like the worst of the COVID-19 pandemic might be behind us, that doesn’t mean we should let our guard down completely — especially when it comes to internet scams designed to prey on the fear and uncertainty brought on by the pandemic. It’s no surprise that scammers have found ways to use the coronavirus scare as an opportunity to steal personal information from the vulnerable. Fortunately, you can spot coronavirus scammers using the same techniques that help identify otherwise run-of-the-mill phishing scams. Requests for Personal Information When the federal government started distributing relief checks, several scammers sent out unsolicited emails, disguised as legitimate instructions, asking for personal information from people in order to receive their $1,200. Since many people have now received their checks, this particular scam may become less common, but always be suspicious of emails that ask for personal
information, no matter the circumstances.
Suspicious Links and Email Addresses During the past few months,
people’s email inboxes have been littered with advertisements for fake
coronavirus tests and cures, fake alerts from government agencies like the Centers for Disease Control and Prevention, and fake coronavirus updates. If you get an email containing an unusual link in your inbox, do not click on it — even if the email address looks legitimate. Scammers use links to spread malware on computers, which helps them get your personal information. Spelling and Grammar Mistakes This is usually a dead giveaway. While genuine, official updates about the coronavirus will be meticulously checked for spelling and grammar, scammers aren’t as
careful. Missing periods, misspelled words, and wacky syntax errors are all hallmarks of scam emails. Make sure you carefully read any email you’re not sure about. If you can spot spelling and grammar mistakes, delete the email. Much like the coronavirus will remain in the American psyche long after cases and deaths have peaked, scammers will continue using it as a means to steal from honest, hardworking Americans. But, if we keep our guard up, we can make sure they get absolutely nothing from their efforts.
Great Outdoor Adventures in Northeast Florida MAKE TIME TO PLAY OUTSIDE
through different stretches of beautiful terrain. Family members of all ages, and their furry friends, too, are invited to explore the natural wonders of the arboretum. Located just minutes from downtown, the Jacksonville Arboretum is the perfect place to get in touch with nature without going too far from home. Princess Place Preserve Where: Palm Coast, Florida Website: FlaglerCounty.org/departments/ princess_place_preserve/index.php Protecting 1,500 acres of land in Flagler County, Princess Place Preserve was once the setting of a real Florida fairy tale. In the early 20th century, the land was home to Angela Cutting, widow of Henry Cutting, who founded the homestead and built a grand hunting lodge. When Angela married Boris Scherbatoff, an exiled Russian prince, she became a princess, and the homestead became known as Princess
Place. Today, the preserve still looks like something out of a fairy tale. Guests can hike through forested groves, fish in the saltwater marshes, and camp out under the stars. Anastasia State Park Where: St. Augustine, Florida Website: FloridaStateParks.org/anastasia Treat yourself to a breath of fresh ocean air on the unspoiled beaches of Anastasia State Park. This beautiful park protects 1,600 acres and offers a wide variety of outdoor adventures. Hike the ancient sand dunes, look for wildlife from a canoe, or go biking along the many trails. Few other places truly capture the natural beauty of Florida quite like Anastasia State Park. We hope these destinations turn into wonderful summer adventures. Be sure to check websites for operating hours and additional details.
Need a break from it all? Northeast Florida is home to some of the state’s most beautiful outdoor vistas. Here are a few of our favorites. Jacksonville Arboretum & Gardens Where: Jacksonville, Florida Website: JacksonvilleArboretum.org Step into nature and explore the trails and gardens of the Jacksonville Arboretum. Six different trails offer varying levels of difficulty and lead guests
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Your Future CAN Be Certain Stop Putting Off Your Estate Plan
One of the biggest and most common mistakes people make in their lives is believing that they don’t have enough assets to bother with when it comes to estate planning. When people who don’t have an estate plan pass away, their family is left dealing with an expensive, invasive probate process. If you have ever heard about a family torn apart after someone passed away, then it’s a good chance the drama was due to a lack of estate planning. Beyond keeping your family from becoming a soap opera after you pass away, estate planning is a comprehensive process that helps make the end of your life a little less frightening. Here are a few ways estate planning lends more certainty to your future. • Your care is planned for. Most people will enter a point in their lives when they cannot remain independent. When this happens, do you want to
remain at home with hired caregivers, move to a retirement community near the beach, or spend your days in a nursing home you’ve never heard of? Estate planning helps you determine what you want your future to look like and helps you budget for those costs. • You’ll know that you will be in good hands. Giving someone power of attorney means granting them the authority to make legal and/or health decisions on your behalf. Many people put off naming a durable power of attorney “until they need it.” However, in that case, if you find that you need a power of attorney to make decisions on your behalf, then you won’t be in a position to name someone. If you don’t have a durable power of attorney, then someone will be named as your guardian, which demands an expensive, drawn-out court process.
• Your loved ones will be cared for. If anyone relies on you, be it a child or a partner, then you need an estate plan, even if you do not have a lot of money you plan to pass down as inheritance. Creating an estate plan outlines guardianship for any children, details financial accounts your partner may not know about, and gives your loved ones one less thing to worry about when they are mourning your loss. Stop putting off creating your estate plan. If you need some help getting started, then give us a call now at 904-232-8760. We can help you factor estate planning in your retirement plans and recommend an attorney to help you address the legal matters involved with estate planning.
SUDOKU
This simple recipe can make any breakfast a little more fun. We recommend pairing your kebabs with your favorite kind of eggs.
INGREDIENTS
EQUIPMENT • 5 metal or soaked wooden kebab skewers
• 7 oz frozen, fully cooked breakfast sausage links, thawed • 20 oz pineapple chunks, drained • 10 medium-sized, fresh mushrooms
• 2 tbsp butter, melted • Maple syrup, to taste
DIRECTIONS
1. Cut sausages in half. Thread alternating sausages halves, pineapple chunks, and mushrooms onto kebab skewers. Brush with butter and syrup.
2. Grill over medium heat, regularly turning and basting with syrup, until sausages are lightly browned, about 8 minutes.
Solution on Page 4
Inspired by TasteOfHome.com
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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
904-232-8760 www.wolfretirement.com 4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224
INSIDE
Solution to puzzle on Page 3
• Lessons Learned in the Kitchen PAGE 1
• How to Spot a Coronavirus Scam Email PAGE 2
• Explore the Real Florida PAGE 2
• 3 Ways Estate Plans Secure Your Future PAGE 3
• Good Morning Breakfast Kebabs PAGE 3
• Enjoy July With These Fun Facts PAGE 4
What Do Julius Caesar and Buffalo Wings Have in Common?
Fun Facts About the Month of July
Most Americans associate July with Independence Day and everything the holiday entails, including traditional barbecue cuisine, fireworks, and summer vacations. However, in addition to the Fourth of July, this midsummer month has a rich history and offers fun opportunities for everyone to celebrate. ‘What’s in a Name?’ You’ve likely heard of Julius Caesar, the famous Roman dictator and general known for changing the Roman Empire’s political structure, innovating war tactics, and eventually dying after a legendary assassination. But did you know that July, Caesar’s birth month, wasn’t always called that? It was initially named Quintilis, which means “fifth” in Latin, because it was the fifth month of the ancient Roman calendar. Shortly after Caesar’s death, the month of Quintilis was renamed July in his honor. Of course, Caesar’s legacy didn’t end there. Before he died, he implemented the
Julian calendar, which he based off of the Egyptian solar calendar, and it remained in place for over 1,500 years until the Gregorian calendar was introduced in the 16th century. Red, White, and Who? Similar to the Declaration of Independence for the U.S., Canada’s Constitution Act of 1867, signed on July 1 of that year, marks the birth of Canada. The following year, Charles Monck, the 4th Viscount Monck and Canada’s first governor-general, signed a proclamation requesting that everyone in Canada celebrate their country’s independence on July 1. However, it wasn’t until 100 years later that the date officially
became Canada Day. Most celebrations include fireworks and red and white attire, much like how Americans celebrate the Fourth of July. Got Wings? While chicken wings are a staple of Southern dining, they actually originated in upstate New York. In 1964, Teressa Bellissimo, co-owner of the Anchor Bar, started cooking leftover wings dipped in hot sauce for her son and his friends. After receiving enthusiastic feedback, Bellissimo put them on the menu. Over the next few years, the recipe’s popularity spread, and in 1977, former Buffalo mayor Stan Makowski declared July 29 to be National Chicken Wing Day. The reputation of the famous Buffalo wings continued to spread nationwide, and in the early ‘90s, wings became an international hit when McDonald’s, KFC, and Domino’s Pizza began selling them in the variety of flavors we know and love today.
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