WHAT’S NE Spending time outside, Kyzlee’s new favorite word, and much more! Ally and Jeff hosted their annual Cinco de Mayo party, and it included homemade guacamole, cheese dip, and beef brisket. Edward arrived just in time to get a photo of Jeff shredding the brisket. Kyzlee loves being outside — even if it means that she has to do some yard work. There’s only one thing to do after a hard day of work … sprinkler time! Kyzlee enjoys playing with the sprinkler and getting wet! Oh, and did we mention Kyzlee’s favorite word is “NOooo”? She mostly uses it when she doesn’t want to eat her dinner and when she doesn’t want to come inside. Kellee and I just celebrated our third wedding anniversary. Many people follow the traditional wedding anniversary gift list, so this year would’ve been leather for us, but Kellee and I didn’t do it on year one and haven’t followed it yet. Each year, we work on being more mindful of each other and working together better as a family unit. Happy third Anniversary, Kellee!
The bulk of retirement planning is spent discussing how you will save money in the years leading up to the end of your career, but that’s only half of the picture. Once you enter retirement, your focus shifts to the smartest way to divest your money for both your own enjoyment and your continued financial security. There are countless ways to wisely spend your nest egg, such as taking trips, providing for the education of your grandchildren, and more. However, this article isn’t about good ideas. Instead, let’s talk about some of the worst ways to spend your retirement funds. TIMESHARES The appeal of a timeshare seems obvious. It’s a space of your own for a few weeks of the year, and you get to enjoy a nice change of pace from your regular environment. The problem is that these properties are full of hidden costs and have been outpaced by other vacationing options. In a world where you can book an Airbnb with just a few clicks, timeshares are poised to become a relic of a past age. ONLINE SCAMS Hackers and cyberscammers love to prey on the elderly. As gross as it may sound, they know that COMMON FINANCIAL PITFALLS BEWARE THESE RETIREMENT SPENDING MISTAKES
older generations tend to be less tech savvy than their younger counterparts. You should be wary of online offers that look too good to be true. If you have even the slightest doubt, have a loved one take a look at the offer to ensure you’re not being scammed. Never provide your private financial data to a source you don’t absolutely trust. TCHOTCHKES Many of us have walked into the house of an older relative to find a room full of American Girl dolls or a display case of Candlewick glassware. Collecting can be a rewarding hobby when done in moderation, but amassing junk simply for its own sake is a waste of money and space. Make sure you’re acquiring objects because you truly want to treasure them. RUSHED RELOCATIONS In general, real estate-based purchases can be extremely beneficial for retirees. The exception to this rule is a spur-of-the-moment relocation in order to be closer to your family or a retirement community. Because real estate transactions are so expensive, it’s best to approach them with extreme care and due diligence.
LOCAL BUSINESS SPOTLIGHT ZENO, POCKL, LILLY & COPELAND
ZPLC is a full-service firm interested in helping your business be more successful. Their highly qualified staff permits them to offer a wide array of services, including Accounting Services, Attest Services, Consulting/Training, and Tax Services. ZPLC is the perfect tax firm to help your business get to the next level. Give them a call at 304-233-5030.
This newsletter is for informational purposes only and no legal advice is intended. Be sure to consult with this law firm if you have a specific question about your situation. And remember that Edward and Jeff don’t take any unplanned inbound telephone or in-person meetings. We believe that each case deserves our undivided attention.
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