Take a look at our September newsletter!
FINANCIAL SERVICES, LLC
616-514-3831
www.MattsonFinancial.com
September 2024
How the Wrong Medication Cost Me 12 Months of Pain THE LOST YEAR
Some time ago, a client came to me saying he needed to withdraw over $80,000 from his IRA account to pay for medical care he received in Florida. He was rushed to the hospital after suffering a heart attack. Because he was treated outside the Michigan health care network, he was billed for a 40% copay of his medical bills rather than the normal 20%. I asked the client to come into our office to sign for this withdrawal and bring in his insurance claim paperwork. The client came into the office so we could review his information, and I asked him how he had been transported to the hospital. He explained that he had been at a mall and was taken by ambulance. We called his insurance carrier and discovered that because he had been experiencing an emergency, his bills would be treated as if he had been in-network. He didn’t owe that additional $80,000 after all! THE LOST YEAR As some of you know, I had back surgery a year ago and endured a heart attack in the recovery room. Thirty-three days later, I had quadruple bypass surgery and started a new medication regimen that I was told I would continue for the rest of my life. I completed the rehabilitation for my back and was almost done with the rehabilitation for my heart surgery. Walking was getting more painful every day. My hips, back, and shoulders from previous surgeries were
terribly painful with any exertion. I found myself using wheelchairs for long trips through airports and, after 30 feet, having to stop to relieve the pain. All my doctors stated I had very advanced arthritis and this would be my new normal. On a recent doctor visit, a nurse practitioner (NP) — not a doctor, an NP — went through my medications and asked why I was taking each one. I explained that I had been on Tramadol pain medication at such a high dose due to severe hip, back, and shoulder pain since past back and shoulder surgeries. She stated one of the drugs, Crestor, a statin, was known for major side effects of severe joint pain. I was skeptical that a drug was to blame because I knew I had some acute pain before my heart attack. The NP suggested I see my cardiologist and stop taking it and see what happens. The cardiologist suggested stopping the statins, adding, “If we go a week and you are free of pain, we’ll know it was the statin.” Sure enough, on the fourth morning after stopping the statin, I woke up a lot less painful. Each day thereafter, it was less and less till now; I’m pain-free except for the pain in my shoulders, which I’ve had for over 20 years. For more than a year, I had been experiencing pain so severe that I couldn’t walk more than 30 yards without stopping and sitting down to relax my back. When I was at Disney World with my family, I had to carry a portable stool, pick it up every time
we moved in line, and sit down again, just so I could be with my family. All the while, I was taking Crestor, which causes severe pain in the hips and shoulders of some people. I happen to be one of those people. That NP’s decision to question the standard treatment helped me recover in a way that I never thought possible. Just as happened with the client who thought his treatment was out-of-network, we found, by asking more questions, an answer that provided greater health. I was able to get rid of my pain, and he didn’t have to pay $80,000. AVERTING A TRANSPLANT Another client came in recently complaining about possibly needing a liver transplant. We encouraged her to get to a specialist immediately. After she asked questions of the specialist and gathered additional information, she found that she didn’t need a liver transplant. She needed to change her diet and medications. The point isn’t that drugs are bad or that medications should not be taken. However, if you’re in a situation that has NOT been treated and your symptoms are still negative for you, keep asking questions. Ask for a second opinion or to see a specialist. Get tests, try other medications, and convey that this is NOT where you want your medical journey to stay. You need
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How to Save Big and Secure Your Family’s Future
Navigating the world of estate taxes can feel like trying to find your way through a pricey maze. Luckily, with strategic money management, you can minimize the taxes on your estate, ensuring more of your hard-earned assets go directly to your loved ones. Here’s a quick guide on how to keep taxes at bay and safeguard your family’s inheritance. GIFTS CAN BE GOLDEN. Spreading a little wealth now can save a lot of taxes later. Known as “annual exclusion gifts,” you can give up to $18,000 to as many people as you like without incurring yearly gift taxes. If you’re feeling generous, doubling this with your spouse means you can give away $36,000 per person annually. This isn’t just a great way to reduce your taxable estate but a perfect way to see your loved ones enjoy their inheritance while you’re still around. STAY SECURE WITH A TRUST. Trusts are fantastic tools to manage asset distribution after you’re gone. You can exclude certain assets from your taxable estate by
setting up a trust, like an Irrevocable Life Insurance Trust (ILIT). This means they’re protected from estate taxes, creditors, and divorce proceedings — talk about a triple win! STEP-UP YOUR BASIS. Here’s a little-known trick: Hold onto assets that appreciate until your death and your heirs can benefit from a “step-up in basis.” This means they will only pay taxes on the gains made from the date of your death rather than the total gains from when you first acquired the asset. It’s like pressing the reset button on potential capital gains taxes, which can be a huge relief. Minimizing estate taxes doesn’t have to be a dreary affair. With these tips and proactive steps, you can ensure more of your estate goes where you want it to — without a hefty tax bill. So, chat with a savvy
estate planner and start building your plan. Your heirs will thank you, and your legacy will stretch even further!
Creating a Happy Family HOW TO FOSTER POSITIVE RELATIONSHIPS WITH STEPCHILDREN
According to the Journal of Demography, 37% of married couples have at least one stepchild. Despite the prevalence of the stepparent/
and be attentive to their hobbies and interests. However, it’s important not to come on too strong. You don’t want your stepchild to feel pressured to get along with you, so let them decide the pace and follow their lead. PLAN AHEAD You and your partner must be on the same page when parenting stepchildren. Taking a hard stance in the opposite direction can confuse and undermine your partner’s authority. You should cooperate when deciding how to discipline and care for the children and what boundaries to set. If you go in without a clear plan, you are planning for disaster. The last thing you want is for your parenting to drive a rift between you, your partner, and your stepchildren. LISTEN AND REINFORCE Be an active listener, and try repeating some of what you see and hear. Make it clear you are listening and understand where your stepchild is coming from. If they can rely on you to listen, they will be more open to talking to you and building a rapport. Moreover, take strides not to badmouth their biological parent — you want to be a positive influence. You won’t better your relationship with your stepchildren by worsening their relationships with others.
stepchildren relationship, it is often not as harmonic as it could be. Stepparents can play a vital role in the development of young children and be positive
role models to teens as well. As your relationship with your stepchildren grows, so will your relationship with your partner. Here are some tips to help you form a more positive
relationship with your stepchildren.
GROW COMFORTABLE When first introduced into a stepchild’s life, you often have to circumvent some initial animosity and awkwardness. This is normal. It may take a little while for your stepchild to warm up to you and build a rapport between you. Find things you have in common. Try to get to know them
With these tips, you can improve your standing with your stepkids and foster a more powerful and positive relationship as you move forward.
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October In-Person First Friday Event Oct. 4, 2024, 12–3 p.m. Lower Garden Level 3226 28th St. SE Kentwood, MI 49512 Don’t let Medicare confuse you! Join us in the office as we feature our licensed agent, Matthew Saidla, as he presents on the very important topic of Health Solutions. Additionally, Gary will share his much-anticipated labor of love, his debut publication, “What Your Parents Never Told You About Money.” Invite friends and family to hear Gary read excerpts from his book and stay for the Q & A. Wrapping up the event will be the LIVE market update featuring a portfolio manager from Gradient Investments at 2 p.m.! November Market Commentary Release Nov. 1, 2024, 12 p.m. The comfort of your own home! A recap on market performance and a current outlook will be presented by a Gradient Investments portfolio manager, with introductions by your Mattson team, sent via email.
to question what is going on until you get a solution. Don’t accept, “Because that’s the way we’ve always done it” or “That’s what is always done for this condition” as an answer. Everyone is an individual, and we react differently to different circumstances. So, physicians, please don’t call me and tell me you know what you’re doing. And pharmacists, please don’t blame me if more customers start asking about the side effects of a particular drug. I just pray that you ask those questions sooner than I did because I lost a year being in pain because of a medication. I am deeply thankful my NP took the time to investigate what I was taking and the side effects.
Medical care is still an art evolving daily with various medications, treatments, and individuals. That’s why they call it “practicing medicine.”
We do the same at Mattson Financial Services, LLC, for your retirement plan. We ask, plan, and ask again. We want it to be right the first time, but we know that circumstances change, and starting retirement is very different from being in retirement for 15 or 20 years. Your plan needs to adjust to you, not you adjusting to the plan.
–Gary Mattson
Beth’s
Baked Sausage With Apples and Fennel
Ingredients
• • • • •
2 apples
• • • •
2 tbsp fresh oregano leaves
1 fennel bulb
2 tbsp olive oil
8 raw, flavored sausages 2 red onions cut into wedges
2 tsp honey
2–3 oz dry white wine
1 tsp fennel seeds
1. Preheat oven to 400 F. 2. Cut apples into six wedges and slice off any core, leaving the skin on. Place in a roasting pan. 3. Slice fennel in half and remove the core. Chop and add to pan along with sausages and onion wedges. 4. Using a pestle and mortar, break up fennel seeds and sprinkle over the pan. Add oregano. 5. Next, drizzle oil, honey, and wine over the ingredients, then toss all together. 6. Roast for 40 minutes, tossing occasionally until sausages are golden and fruit and veggies are tender. Directions
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FINANCIAL SERVICES, LLC
106.9 FM and 1300 AM Saturdays from 10–11 a.m. Sundays from 11 a.m.—12 p.m.
3226 28th Street SE Kentwood, MI 49512
INSIDE THIS ISSUE
1
A Trio of Tales About Costly Health Care Missteps
2
Smart Strategies to Minimize Estate Taxes
Tips for Getting Along With Stepchildren
3
Baked Sausage With Apples and Fennel
Upcoming Events
4
Beyond Big Ben and Buckingham Palace
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. **Reminder: If you have any changes to your financial situation, please notify us as soon as possible.
Explore London’s Quirky Corners From Tea to Tombs
beverage than Twinings Tea Shop. Opened in 1706, the shop quickly became known for having the finest teas around and continues to serve tasty cups. Twinings has been the official tea supplier to the royal family since 1837, and its original logo remains on the building. HIGHGATE CEMETERY If you want to see the city’s spookier side, the Highgate Cemetery is one of the most impressive of London’s “Magnificent Seven” park cemeteries. The Victorian Gothic-style tombs and buildings were built in 1839, and it has a history of vampires, too! Multiple Hammer horror films were shot there in the 1970s, and two magicians famously challenged each other to find and kill a vampire there around the same time. Neither was successful, but it remains a popular site for lovers of the paranormal and the occult.
THE FIRST PUBLIC DRINKING FOUNTAIN London is home to perhaps the most fascinating water fountain in the world. This simple granite basin, built in 1859 and adorned with the words “Replace the cup,” was the first public water fountain. Before then, water was precious, monopolized by water companies, rare to come by, and undrinkable. As people pushed for public access to water, a philanthropist named Samuel Gurney created this fountain, attached to the gates of the St. Sepulchre-without-Newgate Church on Holborn Hill. It became an instant hit. An estimated 7,000 people would stop for a drink daily when it first hit the scene. The city has many hidden treasures, whether you hope to catch a vampire in one of London’s historic cemeteries or sip on a culturally esteemed drink.
Big Ben’s massive clock face, London Bridge’s walkway, and Buckingham Palace — London is known worldwide for its many historic landmarks. But tucked into all its layers of culture are truly unusual and lesser-known attractions to explore. So, brush up on your Monty Python, pack an umbrella for London’s rainy days, and set a course for the most unique experiences England’s capital has to offer. TWININGS TEA SHOP A trip to London wouldn’t be complete without tea time, and there’s no better place to explore the city’s historic love affair with this aromatic
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