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December 2024
CALIFORNIA DREAMIN’ A Family Road Trip Opens New Horizons
As families hit the road for holiday travel this month, I’m reminded of the marathon road trips from my childhood with my parents and my sister Bunny. One exceptionally long haul was our annual 1,100-mile trek from our home in Cheyenne, Wyoming, to visit my dad’s family in California. The trip took us from the boundless desert landscape of the Intermountain West to the big cities of Southern California. Early in those trips, I remember the occasional road sign with bullet holes, the absence of speed limits, and the vast open space. Near the end, we loved seeing the palm trees and the city streets. On trips like that, you gain a sense of how vast the world really is. My dad was a railroad engineer and had this unique ability to remain vigilant while driving at high speeds for hours. With just black coffee and a few bathroom stops, he could make the entire 16-hour drive without interruption. Most times, however, we stopped in Las Vegas because the rest of us needed a bed. Driving into Vegas at night was like seeing a little diamond emerge from the desert. My parents would quickly herd us through the casinos, but I still remember the sounds — the dinging and the clank, clank, clank of the machines. We felt kind of road-drunk. At a time of day when it seemed as if nobody should be up (especially children), we were WORKSHOP Have you (or your clients) “been meaning” to get a plan in place? It’s easy to get started with our 7 Hazards to Your Estate Plan Workshop . This free workshop explains the key planning concepts, documents, and the factors in selecting a plan that is right for you. Plus, workshop participants receive a complimentary consultation with no obligation to retain our services. The workshop is available on demand or in person, so stop thinking about a plan and create one. Register online at PromiseLaw.com/Estate-Planning-Workshop or call (757) 351-4017.
awake and immersed in this cacophony of sounds and lights.
In one hotel, we encountered a bunch of adults flitting around who weren’t gambling. I saw a sign about a swingers’ convention. “What are
swingers?” I asked. My mother’s reaction
was something like, “OMG, to your room!” She cut the conversation off so fast that I was left scratching my head, but it was clear I had hit upon a forbidden topic. The last part of that trek, from Las Vegas to Riverside, California, to see my aunts and uncles, was exciting. My dad’s five siblings and their spouses loved playing dominos, creating another type of cacophony. We heard the clack-clack of the dominos and people talking smack, just enjoying being together after a long while apart. My sister and I were the youngest members of that group, so we got pretty spoiled — running around Disneyland, Knott’s Berry Farm, and wherever we wanted to go. My uncle Jimmy’s backyard was a wonderland with some beautiful topiaries. One year, he trimmed a hedge to look like Snoopy to please Bunny and me. We loved jumping around among his lemon and orange trees. These were very different experiences than we had at home in Wyoming.
These memories are still vivid and deeply evocative for me. As we move through these holiday weeks, I hope you have a chance to explore some new horizons of your own. –Geneva N. Perry, Esq.
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CAN THE COURTS RESCUE SAVE? Legal Challenges Derail Debt Repayment Plan
As controversial government initiatives go, few White House actions have faced more scrutiny than the Saving on a Valuable Education (SAVE) Plan. The hotly debated design for student loan relief has long struggled to gain momentum due to legal challenges and political standoffs. Announced in July 2023 and touted by the Biden-Harris Administration as “the most affordable student loan repayment plan ever,” the SAVE Plan initially aimed to reduce undergraduate loan payments by 50%, prevent balances from growing due to unpaid interest, drop millions of monthly payments to $0, and expedite the repayment process for low-income borrowers. Addressing student debt had been a major focus of President Biden’s tenure. “The cost of education beyond high school has gone up significantly,” he noted in 2022. “The total cost to attend a public four-year university has nearly tripled in 40 years [...] An entire generation is now saddled with unsustainable debt in exchange for an attempt, at least, at a college degree. The burden is so heavy that even if you graduate, you may not have access to the middle-class life that the college degree once provided.” The White House’s efforts to address the debt repayment crisis faced considerable opposition throughout 2024,
“The SAVE Plan initially aimed to reduce undergraduate loan payments by 50%, prevent balances from growing due to unpaid interest, drop millions of monthly payments to $0, and expedite the repayment process for low-income borrowers.”
including an injunction by the 8th Circuit Court of Appeals to prevent them from proceeding — a move subsequently upheld by the Supreme Court. Forbes predicts that the fallout from these and other challenges will tie up the matter in courts well into 2025. In light of this potentially lengthy legal tug-of-war, payers already enrolled in the SAVE Plan have been granted forbearance until the matter is resolved. Interest will not accrue during this period, and any interim payments the borrower makes will be applied to future bills. Despite the delays and derision surrounding the plan, the current administration has steadfastly maintained its position. In an interview with CBS earlier this year, Education Secretary Miguel Cardona stressed that “student debt shouldn’t be a life sentence.” Conversely, Republican Senator Bill Cassidy of Louisiana has called the SAVE Plan a “scheme” that “only shifts the burden from those who chose to take out loans to those who decided not to go to college, paid their way, or already responsibly paid off their loans.” No matter which side ultimately prevails, it’s clear that approximately 8 million U.S. borrowers — with their payment plans now paused until the SAVE Plan is either rescued or rescinded — face an uncertain financial future.
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Are you tying the knot after 50? (Congratulations!) For older couples getting ready to walk down the aisle, there are unique financial considerations to take into account. Merging finances at this exciting stage involves retirement plans, adult children from previous relationships, and different priorities for the future. Get ready for the honeymoon phase as we explore how to merge marital finances in your 50s and beyond. Understanding Your Significant Other’s Spending At this point in your life, your financial habits and values are well established compared to 20-somethings still finding their financial footing. Being transparent about your income, savings, and spending with your partner is essential. You may even want to review each other’s credit reports. Discuss your hopes for retirement and what it will take to get there. You may be more set in your money mannerisms, so it will take planning to reach your shared lifetime goals. Combining Accounts Newlyweds who are 50-plus must decide if they will merge their accounts fully or maintain separate ones. At this age, you likely have more assets to consider. Maybe you’ll keep individual bank accounts and create a joint account for shared expenses like bills. Reviewing your estate plans together is essential to ensure your wishes for wealth distribution to heirs are clear. Embarking on this new chapter means more than just sharing a life — it’s about blending finances in a way that makes sense for both of you. Communicating about your finances and shared goals ensures your golden years together are filled with financial harmony and peace of mind. Merging Money After 50 HAPPILY EVER AFTER AND FINANCIALLY FIT
TAKE A BREAK
CARDINAL COCOA FROSTY GARLAND GENEROSITY MENORAH MITTENS PEPPERMINT PINECONES SNUGGLE UNITY YULE
Korean Steak Slaw
Inspired by GoodHousekeeping.com
Ingredients
• 2 tbsp gochujang or sriracha hot sauce • 2 tbsp soy sauce • 3 tbsp sesame oil, divided • 2 sirloin steaks, about 1 lb total • 1 daikon radish
• 1 large carrot • 1/2 red cabbage • 5 green onions, divided • 2 tbsp rice vinegar • 2 tsp sesame seeds, toasted
Directions 1. In a large bowl, mix gochujang, soy sauce, and 2 tbsp sesame oil. Set aside 1 tbsp of mixture to use for dressing. Place steaks in bowl with the remaining marinade and coat. 2. Julienne radish and carrot into strips. Shred red cabbage and slice 3 green onions. Mix the reserved marinade with the remaining sesame oil and rice vinegar, then toss with vegetables in a large bowl to coat. 3. Heat a frying pan until very hot. Fry steaks for 2 minutes on each side for medium rare, brushing with the marinade as they cook. Set aside to rest for 5 minutes, then slice into thin strips. Slice the remaining green onions and add to the slaw. 4. Serve sliced steak over the slaw and sprinkle with toasted sesame seeds.
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INSIDE THIS ISSUE
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Memories of Marathon Family Road Trips as a Child
Student Loans in Limbo
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Korean Steak Slaw
Combining Finances When Tying the Knot Later in Life
Unravel the Myth of the 16th-Century Rocket Cat
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CAT-APULTING INTO HISTORY The Feline-Flying Military Tactic That Never Took Off
Throughout military history, you’ll find strategic experiments ranging from the genius to the downright bizarre. But few can top the zany brainchild of Franz Helm, a 16th-century German artillery aficionado whose bright idea left historians — and cat lovers — utterly bewildered. Let’s set the scene with Helm’s magnum opus, the “Feuer Buech,” published in 1584, a treasure trove of ( literally ) explosive innovations in warfare. Imagine this: a battlefield in the Renaissance, not just filled with the clang of swords and the thunder of cannons, but also — wait for it — flying, flaming cats. Yes, you read that right. Franz Helm’s groundbreaking military tactic involved jetpacks for cats. Picture a kitty, strapped with a sack of gunpowder,
zipping through the air like a furry missile aimed at enemy strongholds. The hope? These feline projectiles would scamper back to their homes — presumably in enemy territory — and start a blazing inferno. One can only wonder about how they would train cats to become arsonists. The method was straightforward: kidnap an enemy cat, strap it into a gunpowder-laden backpack, light the fuse, and hope Mr. Whiskers doesn’t get cold paws about blowing up its evil overlords. Preserved for posterity at the University of Pennsylvania, the “Feuer Buech” reminds us of the lengths human creativity can go — especially when combined with a profound misunderstanding of cat behavior. As any cat owner will tell you, cats have
their own agendas. The chances of a cat completing
its fiery mission are about as high as it bringing you the morning newspaper. Thankfully, we have no evidence that this pyrotechnic plan ever came to pass. Considering cats’ notorious independence, we can rest assured that no self-respecting felines took part in these explosive escapades. So, next time you’re cuddling with your cat, be thankful its biggest inclination is to knock pens off your table rather than infiltrate enemy castles with fire.
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