904-232-8760 www.wolfretirement.com MONTHLY December 2017 RET IREMENT NAV IGAT ION
HOW THINGS CHANGE What Makes the Season of Giving Magical
During childhood, Christmas is all about receiving. We daydream about new toys, spend hours crafting the perfect wish list, and wait in long lines so we can talk to Santa Claus in person about our presents. I have great memories of waking up early Christmas morning and running to the tree to see all the brightly wrapped gifts. Of course, as we get older, we start to understand the holiday season isn’t a time for receiving; it’s a time for giving. I never appreciated how much work my parents put into the holidays until I had a child of my own. Isabella is four years old; and, to her, Christmas is pure magic. As her father, there’s nothing better than seeing her so full of excitement and joy. My wife Danielle, and I put a lot of work into making Isabella’s Christmas special. Of course, Santa Claus still gets all the credit, but that’s just part of the magic. Giving my daughter wonderful Christmas memories is part of what makes this season so special. I see now how much my parents gave to us during the holidays. In fact, they had to work even harder because my birthday is in December. Anyone else who shares a December birthday knows how people tend to try and lump in your birthday with Christmas. As a kid, you feel slighted! Luckily, my parents
took a stand on that subject. They always made sure I had separate birthday and Christmas celebrations because they wanted me to know they cared. Their efforts were probably one of the best birthday and Christmas gifts they ever gave me; though, as a kid, I was just happy I got extra presents. The little things we do for our loved ones are what make the holiday season so memorable. Danielle and I can run ourselves ragged sometimes trying to capture the “perfect” Christmas. But it’s not really about the decorations or the presents, is it? Christmas is about being with the people we love and reminding them of that love as we celebrate the most wonderful time of the year. At the office, I often get to see my clients express their love for their families as they plan for retirement. Much like Christmas, our perception of retirement tends to change as we get older. When we first enter our working years, retirement seems like a golden future. Once we reach it, we can finally get out of the rat race. While retirement does mean freedom from the responsibilities of a working life, a big part of successful retirement planning involves making sure we can take care of ourselves. No one wants to see family
members forced to put their lives on hold in order to take care of their retired relatives in the event of an emergency. Retirement planning can give us and our families a sense of peace and financial freedom. I want to take a moment to thank everyone who has allowed me the privilege to help them work through retirement over the years. I greatly appreciate the ongoing support and faith entrusted to me. May you and your family be blessed with optimum health, wealth, and happiness in the new year.
Merry Christmas and happy holidays!
–Adam Wolf, CPA, CFP ®
a. 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 professional before making any investment decision. This information is designed to provide general information on the subjects covered. Pursuant to IRS Circular 230, 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 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.
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The Benefits of Ride-Sharing for Older Adults
According to the Community Transportation Association, 26 million older adults rely on others for transportation. Between
If you’ve never tried ride-sharing before, here’s how it works. Using an app on your phone, you set a pick-up and drop-off location. In just a matter of minutes, a driver is at your door, ready to travel to your destination. Payment is automatically linked to your phone, so you don’t need to worry about having cash on hand. If you need help setting up the app, reach out to a tech-savvy friend or family member. Odds are they’ve used these services themselves. If you need help getting in and out of the vehicle, Uber even offers a special service called uberASSIST. Drivers in this program have special training and offer door- to-door assistance. Newer companies designed specifically for seniors, like SilverRide and Lift Hero, are expanding into new regions all the time.
a friend or loved one for transportation. Have a medical appointment? Getting there has never been easier. Looking to take a walk somewhere that requires a short drive? You can ride-share there and back. Going out for a bite to eat? With the touch of a button, you’ll soon be on your way. Ride-sharing offers increased independence, security, and efficiency, which far outweighs most other transportation alternatives. You might think of mobile technology as an industry aimed largely at younger generations who live their lives on their phones. Ride-sharing services, however, can offer just as much benefit to you as to those rowdy 20-somethings. If you need a quick, affordable ride, give these apps a shot.
the lack of autonomy and the fear of being a
burden, this dependency often leads to a decreased quality of life. Most seniors
don’t want to call a loved one every time they need a ride, and public transportation is often a hassle
at best. Recently, ride-sharing services like Uber and Lyft have offered older adults an alternative way to get where they want to go.
Ride-sharing offers a number of benefits to older adults who don’t want to rely on
Tune in every Sunday for the “Sunday
Morning Money Report” on CBS 47 at 9:05 a.m. for financial news and retirement tips in just 2 minutes.
Tune in every Monday from 11:00 a.m. to noon for “4 Your Money” on River City Live on Channel 4, The Local Station. Re-airs Mondays at noon on Channel 17, WCWJ “The CW,” and again on Tuesdays at 7:00 a.m. on “The CW.” Tune in to NBC 12 on Tuesdays for Jacksonville’s Retirement Coach, Adam Wolf, on First Coast Living, from 11:00 a.m. to noon and again from 2–3 p.m.
Every day, we’re grateful to our clients who continue to trust us as we help them navigate the road to financial security. It means a lot when you introduce your friends and family to us so we can help them too! Special thanks to: Marshall and Kristine K
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Is Your Financial Plan Naughty or Nice?
To a kid, there’s nothing more magical than a visit from Santa Claus on Christmas Eve. Adults get that same sense of wonder when they picture retirement. Similar to how naughty or nice behavior determined what gifts Santa brought us as kids, the “good” or “bad” status of our retirement plan will determine whether we lounge on the beach or work until we’re 90. It’s time to look at the success of your retirement plan by checking the “Christmas Financial Naughty and Nice List.” ‘Naughty: Winging It’ vs. ‘Nice: Having a Plan’ Proactive planning is necessary for successful retirement. It’s not wise to wait until the proverbial “tomorrow” to determine if you have enough to maintain your ideal lifestyle in retirement. If you’re on the path
or her own. Ask if the individual is a financial fiduciary or one who operates under the suitability standard. There are financial professionals who follow the suitability standard, which means they are under no legal obligation to make sure the products they recommend offer the best solutions for your situation. While the industry is moving toward a fiduciary rule for retirement assets, the stricter requirements haven’t been implemented yet. ‘Naughty: Excessive Fees’ vs. ‘Nice: Reasonable Fees’ All mutual funds, managed investment accounts, and annuities have fees and expenses. Not all fees are bad. However, excessive fees are the fastest way to drain your savings and put your retirement plan on the “naughty” list. Variable annuities, which we do not recommend or use, are guilty of excessive fees. They are sold for “safety” and “lifetime income,” but they have the potential to lose principal and cost 2%-5% annually, which I believe is way too much! If you are unsure what kind of fees you’re paying or if those fees are reasonable, reach out to us. Is your retirement plan “naughty or nice?” Talk to the elves — which, in this case means the team at Wolf Retirement Navigation! Call 904-232-8760, and we can help you get on the right foot by checking your retirement list … twice!
to running out of money during retirement, you want to know today, not when you’ve already run out of money. ‘Naughty: Suitability’ vs. ‘Nice: Fiduciary Standard’ If you enlist the help of a professional, be sure he or she will provide
recommendations and planning that put your interests ahead of his
Scrambling to find something for the holiday potluck? This fondue is sure to impress!
• ¾ cup dry white wine • 1 tablespoon cornstarch • 1 (8-ounce) package sliced Swiss cheese
• 1 clove garlic • Salt to taste • Foods to dip (apple slices, bread cubes,
roasted vegetables, etc.)
1. In a large bowl, whisk together wine and cornstarch. 2. Chop cheese slices into small, uniform pieces. 3. Rub clove of garlic all over the sides and bottom of a heavy- bottomed pot, then discard. 4. Heat wine mixture over medium-low heat in the pot until thick and bubbling. Add some cheese and slowly whisk. When nearly smooth, add more cheese and whisk gently. Repeat until all cheese is melted. If mixture seems too tight, add 1 tablespoon wine. 5. Season with salt and serve immediately. Keep pot on low heat to keep the fondue dippable.
(Recipe inspired by PinchofYum.com.)
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904-232-8760 www.wolfretirement.com 4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224
• What Will You Give This Christmas? PAGE 1
• The Benefits of Ride-Sharing for Older Adults PAGE 2
• Thank You! PAGE 2
• Will You Find Coal in Your Retirement Stocking? PAGE 3
• Easy Holiday Party Cheese Fondue PAGE 3
• Is January the Best Month for Disneyland? PAGE 4
Disneyland? January isn’t known for much — broken resolutions and Martin Luther King Jr. Day, mostly. But if you’re looking to escape the cold or take your family on a post-holiday adventure, next month might be the best time to travel to the Happiest Place on Earth. Is January the Best Month for
Tips forYourTripBack inTime
rides for maintenance during this time, but never more than one or two at a time. With all the open options, you won’t feel robbed.
such huge crowds if the weather wasn’t theme park-worthy 99 percent of the time.
Let’s Talk About the Weather Does January sound cold and rainy? Don’t worry. The average temperature is still a balmy 66 degrees, and January gets just as much rainfall as peak months like December (winter break) and March (spring break). Check weather reports since the rainfall varies greatly depending on the temperature of the ocean that month. But bear in mind, Disneyland is the No. 2 theme park on the planet, raking in 18 million visitors per year. It wouldn’t attract
The Best Crowds According to Disneyland’s own figures, the first full week of January through the middle of February is the slowest time of year at the park. Visitors report never spending more than 15 minutes waiting for a ride. The Fourth of July, however, finds visitors waiting over two hours for Star Tours and Splash Mountain. In Winter, Disneyland closes a little earlier. But if you have young kids, this won’t affect your plans much. They often close
So, what’s the best month to visit
Disneyland? It’s a trick question. The real answer is whatever month you go. Disneyland is magic! But if there’s a month
that’s better than the rest, we’ll say it’s January.
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