Retirement Planning Strategies - March 2020

Give us a call! 303-922-4304 Hours: 8 a.m. to 5 p.m. M–F

MARCH 2020



1 Denver Federal Center Building 45, Entrance E-9, Room 1050 Lakewood, CO 80225

ALL ABOUT THE SECURE ACT What Does It Mean for Your Retirement?

The SECURE Act was signed into law on Dec. 20, 2019, and went into effect Jan. 1, 2020. Since then, we’ve had a lot of questions about how it affects retirees or those planning to retire in the near future. The SECURE Act brings significant changes that will affect a large pool of people because it changes the options for how and when retirees and their beneficiaries are able to access their retirement money. So it’s important to understand the basics of this act. Previously, you had to begin taking your required minimum distributions starting in the year you turned 70 1/2. Calculating this strange age bracket has long been a point of confusion, but now, Congress has made things a little easier by changing the age to begin taking required minimum distributions to 72. If you’ve already begun taking distributions and you’re under the age of 72, this change, unfortunately, doesn’t apply to you because once you’ve started, you can’t stop. But if you were born on or after July 1, 1949, you may now wait until you’re 72 to start taking those required minimum distributions.

Additionally, people were previously required to take their minimum distributions at 3.65% of all their tax- deferred accounts. Now, you have to take them at 3.91%. So there is an upside in this scenario. But with every upside, there’s inevitably a downside. The second major change to retirement planning under the SECURE Act is how it affects beneficiaries. Previously, if your beneficiaries inherited your Traditional or Roth IRA, they had the choice to either accept the full sum of their inheritance at once and pay income tax on it in full or opt to stretch the account for as long as they saw fit and benefit from the tax advantage of an IRA. This was referred to as a stretch IRA and has served as a viable lifetime income source for many. But the SECURE Act has eliminated this option. Under the new legislation, a spouse, if they are your beneficiary, will still be able to accumulate your accounts into theirs, tax-free, and will then begin taking mandatory distributions when they turn 72. But if your beneficiaries are your children or grandchildren, they will be required to

accept the entire inheritance and pay the income taxes on it within 10 years of the original account holder’s death. This means they’ll have no choice but to distribute the money from the inherited account in much larger sums over a shorter period of time, which leads to increased tax dollars that go to the government. The intentions behind this new act seem pretty clear from where we stand. The SECURE Act gives many people a lot to think about when it comes to their retirement planning and what they intend to leave for their beneficiaries. If you’re planning on leaving your beneficiaries an IRA or a 401(k), it’s crucial to revisit and rethink your estate plan, especially if it’s been a while since you created it. In hand with current tax cuts, this may be a great time to start thinking about converting money into a Roth IRA and to officially do so before Dec. 31, 2025, when they would be set to expire. These are significant changes, but try not to let it get the best of you. Your estate planning attorney can help you reassess your plans, and Retirement Planning Strategies can help you figure out the dollars and cents of it all.

–Ann Vanderslice | 1

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Our new office coordinator, Maya Mogyorodi, is no stranger to the retirement or financial game. Prior to moving to Colorado with her fiancé in September 2019, she worked for a retirement firm as a financial advisor in Houston for five years. But before that, Maya’s story was a little different. After studying biochemistry at the University of Houston, Maya’s intention was to become a doctor. But as many of us know, things change, plans shift, and sometimes, you end up where you never anticipated,

and high stakes. If you think about it, there’s a lot of similarities to helping people figure out their finances.”

Maya has been our office coordinator since the beginning of January, and that’s exactly where she wants to be at this phase in her life. “After doing finances for five years, I was starting to burn out. Now, I’m really enjoying working behind the scenes and getting to watch fantastic people do amazing work,” she says. Maya has been streamlining many of our processes and operations, which is something we’ve been hoping to do for a long time, and we’ve finally found the perfect fit for the job. Retirement Planning Strategies is all about finding stellar talent to help our clients make the very best decisions. “Everyone is such a rock star and so dependable,” Maya says of her coworkers. “They’re caring and passionate about what they do. It makes for a really great environment.” Maya and her fiancé are settling into life in Colorado nicely. They just bought their first house together and adopted a dog, and they’ll be officially tying the knot this month in Houston. They love Colorado and all the outdoor adventures it offers, but on the days they stay indoors, they break out their favorite board games and try to one- up each other with careful strategy. Being such an integral team member at a place that’s all about strategy should give Maya the leg up she needs to be victorious.

like in financial advising. “I think being educated in the medical field prepared me very well for retirement and financial advising,” Maya says. “In the medical field, you’re talking to people all day, going in and out of appointments, and dealing with sensitive subjects

Title March Madness Fun for the Whole Family WHOSE PICKS WILL GO ALL THE WAY? TAGLINE

REWARD THE WINNERS WITH PRIZES. Offer prizes to each round winner as well as the overall bracket winner to get the whole family involved. Small prize ideas for each round can include a homemade dinner of the winner’s choice, a week’s supply of their favorite snack, or a coupon for getting out of a chore. Whoever wins the whole tournament (or makes it the furthest with their bracket) deserves a bigger reward. Offer them the chance to see a movie of their choice in theaters or to eat a meal at their favorite restaurant. CREATE A LEARNING OPPORTUNITY. Learning math or geography might not sound like your child’s idea of fun, but it can be when they learn it through the lens of March Madness. See if your kids would be interested in understanding the inner workings of the ranking system or studying where some of the qualifying colleges are located on a map of the United States. They may find it so interesting that they don’t even realize they’re learning valuable skills.

One of the greatest things about March Madness is that you don’t have to be a huge college basketball fan to get in on the fun. Kids of all ages can fill out brackets — or have a parent fill one out

for them — and watch their picks duke it out on the court. While healthy competition among family members can be fun all on its own, check out the following tips if you’re looking to go the extra mile and reap as much fun from March Madness as you can. TURN EACH GAME INTO AN EVENT. Not every kid may like watching basketball, but if they fill out a bracket, then they might gain at least a passing interest in who will win each game. To elevate their interest, turn each March

Madness matchup into a little party. It doesn’t have to be fancy; make fun snacks to eat while you watch or bet pieces of candy on who will have the most points to create great family bonding opportunities.

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Your Guide to Spring- Greening


It takes a special kind of person to enjoy spring-cleaning. For most of us, the satisfaction of a clean house doesn’t quite outweigh the hours of scrubbing, sorting, and slogging through heaps of unnecessary stuff. If you’re struggling to find the motivation to start your spring- cleaning, try flipping the paradigm: Instead of spring-cleaning, think of what you’re doing as spring- greening , and make some eco- friendly swaps along the way. Here are a few ideas to get you started. According to a Statista report, in 2019, the household cleaners market was worth more than $31 billion, and it’s continuously growing. You can save money on cleaning supplies by taking the green route. When your current stock runs out, try buying bulk cleaners or making your own. Both options will save plastic because you can reuse your bottles, and they can help you avoid the harmful chemicals found in most cleaners. Visit and read the blog post “Zero Waste Cleaning Supplies + Recipes” to get started. 2. EXPLORE ALTERNATIVE LAUNDRY DETERGENTS. If you’re used to using a plastic jug of liquid laundry detergent, it’s time to step out of your comfort zone. This spring, try 1. SWAP YOUR PLASTIC SPRAY BOTTLES FOR BULK OR DIY CLEANING PRODUCTS.

exploring greener alternatives like plant-based bulk laundry powder (Molly’s Suds is an excellent source). Or, if you’re feeling really adventurous, you can even try adding all-natural cleaners like soap nuts or English ivy to your laundry loads. For more on the former, search “soap nuts” on, and read up on ivy detergent at Ivy-Laundry-Detergent. 3. SAY GOODBYE TO PAPER TOWELS. Paper towels are a mainstay in American homes, but do we really need them when a good old-fashioned rag can do the job? According to the Ocean Conservancy, 13 billion pounds of paper towels are tossed out in the U.S. each year! This spring, quit paper towels and keep a stash of dish rags under the sink to do your dirty work. When you’re cleaning out your closet, you can even cut up old T-shirts and add them to your rag stash! If you’re brave, try giving up tissues, too — an old-school hanky does the trick. If you’ve made all three of these swaps, don’t stop there! To continue your green journey, visit any of the blogs mentioned above and start browsing.

Train Your


Pesto Chicken With Blistered Tomatoes INGREDIENTS Inspired by

• 1 tbsp unsalted butter, melted • 6 tbsp spinach pesto • 2 cups cherry tomatoes • 1 garlic clove, thinly sliced • 1 tsp red wine vinegar

• 2 1/2 tbsp olive oil, divided • 4 boneless and skinless chicken

breasts, pounded to a 1-inch thickness

• Salt and pepper to taste • 1/4 cup whole-wheat panko • 2 tbsp Parmesan cheese


5. Broil chicken for 2 minutes on high heat until browned. 6. In a skillet, heat remaining oil over medium-high heat. 7. Add tomatoes and cook for 6 minutes. 8. Add garlic and cook for 30 seconds, stirring constantly. 9. Season tomato mixture with salt and pepper, and add red wine vinegar. 10. Serve tomatoes with broiled chicken.

1. In a large ovenproof skillet over medium-high heat, add 1 tbsp olive oil. 2. Season chicken with salt and pepper, and add it to pan. Cook chicken for 5 minutes on each side, then remove pan from heat. 3. In a bowl, combine panko, Parmesan cheese, and butter. 4. Spread pesto over chicken and top with panko mixture.

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Give us a call! 303-922-4304 FAX: 303-416-4358 Hours: 8 a.m. to 5 p.m. M–F


303-922-4304 •

PO Box 260787 Lakewood, CO 80226-0787

This does not constitute an offer to buy or sell any security. Investments in securities are not suitable for all investors. Investment in any security may involve a high degree of risk and investors should review all "Risk Factors" before investing. Investors should perform their own due diligence before considering any investment. Past performance and/or forward looking statements are never an assurance of future results. Investment products, Insurance, and Annuity products are not FDIC Insured/Not Bank Guaranteed/ Not Insured by any Federal Government Agency/May Lose Value. Securities offered through Cabot Lodge Securities LLC New York, NY 10281-- Member FINRA and SIPC. Advisory services offered through CL Wealth Management LLC-- SEC registered. Retirement Planning Strategies is not controlled by or a subsidiary of Cabot Lodge Securities LLC or CL Wealth Management LLC


How the SECURE Act Affects Your Retirement PAGE 1

Spotlight on Maya Mogyorodi PAGE 2

March Madness Fun for the Whole Family PAGE 2 3 Eco-Friendly Home Swaps to Make During Spring-Cleaning PAGE 3 Stay Stateside With These Little-Known St. Patrick’s Day Celebrations PAGE 4

STAYING STATESIDE FOR ST. PADDY’S? Celebrate With These Little-Known Festivities

There’s no place quite like Ireland on St. Patrick’s Day. What was once a purely religious holiday to honor the legend of St. Patrick chasing all the snakes out of the country has turned into a global celebration. But if a trip to Ireland isn’t in the budget, check out these three little-known stateside destinations that are just as festive. SHORT AND SWEET IN ARKANSAS Thanks to the clever thinking of some Irish friends meeting for a pint at a bar on one of the shortest streets in the world, Bridge Street in Hot Springs, Arkansas, the First Ever 17th Annual World’s Shortest St. Patrick’s Day Parade will travel 98 feet once again this year. Don’t assume the turnout isn’t robust just because the distance is staggeringly low. The parade lasts for hours, drawing thousands of people to watch celebrities, musicians, bands, floats, and Miss Arkansas glide by. The event also features a Blarney stone kissing contest and a parade king and queen. A LITTLE LUCK IN AMERICA’S HEARTLAND O’Neill, Nebraska, is home to the world’s largest shamrock and more unique St. Patrick’s Day traditions. This Irish community doubles

down on its heritage every March with a traditional parade, music, and Irish dancing. But the town also hosts a popular dodgeball tournament and donkey basketball. What could be better than pummeling your opponents in dodgeball and outpacing the competition while riding a donkey in the school gymnasium? Perhaps enjoying a pint or two with your teammates afterward. And O’Neill is just the spot to do it. OHIO’S LITTLE PIECE OF IRELAND You may not be able to fly to Ireland, but you can visit a little piece of it right in the U.S. Head to Dublin, Ohio, this St. Patrick’s Day for a traditional celebration sure to put a wee bit o’ pep in your step. Partake in a traditional Irish breakfast or enjoy a parade complete with bagpipers and Irish dancers. Boasting one of the largest celebrations in the U.S., Dublin is an affordable alternative for those looking to celebrate the Irish way.

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