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HAPPY BIRTHDAY, AMERICA! The Bicentennial Celebration Was Huge!
Happy Independence Day, everyone! While you’re more than likely reading this newsletter after the Fourth of July, the entire month is dedicated to our country’s fight for independence. After all, the Revolutionary War took place for years, not just on one day! As we reflect on America’s freedom and everything we get to do because of those who fought and risked their lives for us, we can’t help but return to 1976 for the Bicentennial Celebration. We’re sure many of you remember these celebrations and all the events across the country. The Bicentennial Celebration honored the 200th anniversary of the signing of the Declaration of Independence. The celebrations kicked off a couple of months before America’s 200th birthday — on April 1, 1975, President Gerald Ford went to the Old North Church in Boston, Massachusetts, where he lit a third lantern to recognize America’s third century. He also delivered an address at Lexington and Concord (the first battle of the American Revolution) to memorialize the special occasion. Then, the American Revolution Bicentennial Administration (ARBA) coordinated and supported 66,000 events to commemorate the 200th anniversary of the signing of the Declaration of Independence. There were dozens of picnics, ceremonies, presentations, and festivals scattered throughout the country — did any of you attend these events? We would love to hear about your experience! Another important event in July 1976 in honor of America’s 200th birthday was that Queen Elizabeth II and Prince Philip of Great Britain toured Philadelphia, Washington D.C., Virginia, New York, Connecticut, and Massachusetts. Then, on behalf of the British people, the Queen gifted the U.S. the Bicentennial Bell — a replica of the Liberty Bell in Independence Hall. I bet the Patriots and British soldiers who fought in the Revolutionary War would’ve never thought the Queen of England would gift America As we reflect on America’s freedom and everything we get to do because of those who fought and risked their lives for us, we can’t help but return to 1976 for the Bicentennial Celebration.
something to honor their departure from British rule! As we reflected on the patriotic and nostalgic events that took place in 1976, we couldn’t help but look into some other facts regarding the Revolutionary War. Here are some of our favorites.
Our history textbooks only talk about soldiers and what they did during battle. But they didn’t fight for 24 hours straight — they had breaks in between! So, what did they do with their free time? According to New York Public Library, British soldiers decided to try their hand at performing. During the war, tons of theaters were scattered across the colonies, and British soldiers would conduct plays. It may come as no surprise that most of the plays they acted in were by William Shakespeare — a prominent British playwright. However, the soldiers also made political remarks during their scenes by using improv and changing their lines to talk about pro-British sentiments. Another interesting fact we discovered was that there were 200 original copies of the Declaration of Independence! You read that right — 200! Historians are unsure why there were so many copies; we’re assuming it’s the same reason why we like to make copies of our essential documents today: to store them! However, out of these 200 copies, only 26 are still around today. No one knows where the remaining 184 copies are! There are dozens of other interesting facts about the American Revolutionary War — such as the woman who dressed up like a man to fight alongside the Patriots, how Paul Revere was also a dentist and was one of the first people to use dental forensics for identification, and how Patriots used invisible ink to communicate with one another. We can’t believe these facts weren’t in our textbooks! Hopefully, during the semiquincentennial year in 2026, when we celebrate the 250th anniversary of signing the Declaration of Independence, these facts will come to light during the events!
Here’s to you and your freedom!
–Lenore and Scott Mizenko
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WHAT IS THE MEDICARE DONUT HOLE? Your Prescriptions Could Be Affected! If you’re receiving your medications under Medicare Part D, then it’s vital that you understand the “donut hole.” The donut hole, otherwise known as the coverage gap, is one of the stages you can encounter as a part of Medicare’s Part D prescription drug plan. Here’s what you need to know. WHAT IS THE DONUT HOLE? Many of the medications you get are covered in some sort of drug plan. If you’re getting your prescriptions from Medicare Part D, you may be required to meet a deductible. While deductibles vary between Medicare drug plans, no plan can have more than a $505 deductible in 2023.
While young adults of previous generations were usually left to sink or swim after leaving home, it is now commonplace for parents to provide financial support to their adult kids. A 2018 Merrill Lynch Age Wave survey found that 79% of respondents help their adult children financially, providing an average of $7,000 annually. Many parents feel it’s a moral obligation. But how much should you support your adult child — and how do you know when it’s time to stop? Modern parents have good reasons to help their kids into adulthood. Housing prices have increased, entry-level jobs often pay poorly, and many young adults struggle with student debt. Parents often support their kids temporarily until they get on their feet. But months can turn into years without significant progress toward self-sufficiency. One way to tell it’s time for a change is by looking at your own finances. Are you meeting your own goals? If you’re struggling to pay bills, racking up credit card debt, or failing to save for retirement sufficiently, you’re helping your children to your own detriment. Further, you risk reversing the arrangement, thus relying on your child for financial support in the future. So, confirm your retirement goals are on track and that your contributions are affordable. It’s also worth considering whether you’re preventing your adult child from learning important life lessons. If they struggle to budget or habitually misspend money, regularly bailing them out hurts them more than it helps. And don’t forget about the emotional component of your financial support. If you feel like your kids are taking advantage of you, then something is wrong and needs to change. Whatever your reason for reconsidering, prepare for a challenging conversation. You may feel guilty, and your child may become very upset. Take time to understand your reasons for ending or reducing your support and plan what you want to say. Most importantly, give your child time to process the news financially and emotionally. Avoid ending support suddenly if possible so they have time to prepare for their future finances. Wanting to help your kids is normal, and it can be hard to let go or watch your children struggle. But limiting your support, saying “no” to monetary requests, and putting your needs first is okay. Especially if your assistance has put your financial, mental, or emotional health at risk, it’s time to reconsider what works best for the entire family. SHOULD YOUR ADULT CHILD PAY THEIR WAY? When to Close the Bank of Mom and Dad
Once you meet your deductible, your initial coverage stage will start, and Medicare Part D will help pay for a portion of your prescription costs. However, once you and your plan pay $4,660, you will enter the coverage gap, aka the donut hole.
HOW DOES THE COVERAGE GAP STAGE WORK? If you end up in the donut hole, then there’s a temporary limit on what your drug plan will cover. If you’re buying generic drugs , you must pay 25% of the cost plus the dispensing fee. Your Part D plan will cover the remaining cost (75%). If you’re purchasing brand-name drugs , you will pay 25% of the cost and the dispensing fee. However, the drug manufacturer and your drug plan will share the remaining costs. The manufacturer will pay 70%, and your drug plan will pay 5%. It’s important to note that the amount you and the manufacturer pay for brand-name medications will count as out-of-pocket spending. Once you’ve spent $7,400 out-of-pocket, you will be out of the donut hole and enter into the final phase of your Part D plan coverage, the catastrophic coverage stage. CAN YOU AVOID THE DONUT HOLE? If you’re at risk of reaching the coverage gap, there are several solutions you can consider. Look into a prescription assistance program, low- income subsidy (LIS) (known as extra help), using generic prescriptions over name brands, or reviewing your drug plan each year to ensure you’re getting the best coverage possible for your medications. To learn more about the coverage gap and your options regarding Medicare Part D and medications, please call your friends at The Medicare Authority! We can help you find a plan and solution that works best for you and your needs.
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ATTENTION TO THOSE ENTERING OR IN RETIREMENT!
Don’t Make These 3 Mistakes!
FAILING TO INVEST Investing is one of the best ways to accumulate and preserve your wealth. However, now that you’re older, you may not be able to invest as aggressively as you could have when you were younger. But that doesn’t mean you must stop altogether. Consider taking the conservative investment approach by investing in mainly lower-risk assets like fixed interest and cash and a few higher-risk assets such as property, shares, and private equity. One of the best ways to avoid these pitfalls is by working with someone who can ensure your plan is strong and perfectly fits your needs, wants, and goals. That’s why you should consider working with The Retirement Authority! To book an appointment with Scott Mizenko, go to BookLTCcall.com. You can also email him at Scott@scottmizenko.com or call 844-633-5239 .
When planning for your retirement, you may have a lot of things circulating in your mind. Then, as the time finally comes for you to enjoy your golden years, you may think your preparation is complete! However, retirement planning doesn’t stop once you retire. Whether you’re working toward retirement or you’re already retired, it’s vital to avoid these three pitfalls if you want your retirement goals to remain on track. UNDERESTIMATING COST AND LENGTH OF RETIREMENT According to a 2021 survey by Nationwide Retirement Institute, more than half of retirees are concerned they may not have enough money to cover unexpected medical expenses. The average retired couple will spend around $315,000 on medical fees and long-term care.
Furthermore, 70% of retired folks may need additional care at some point during their lives. Since people often tend to live longer than they expect and need more care, you want to ensure you have enough money saved to cover these expenses. Many advisors suggest saving enough money to last 25–30 years. APPLYING FOR SOCIAL SECURITY BENEFITS TOO EARLY It’s imperative that you carefully consider when to file for Social Security. You can start receiving Social Security benefits at 62, but by enrolling early, your monthly earnings will be reduced by 30% for the remainder of your time on Social Security. While everyone’s situation is different, please speak with your retirement advisor before enrolling. They can see if any options are readily available to you in the meantime.
Inspired by Delish.com
TAKE A BREAK
GRILLED STEAK SALAD WITH PEACHES
This summer salad is both hearty and healthy!
INGREDIENTS
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1 lb skirt steak, fat trimmed 1/4 cup balsamic vinegar
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Black pepper
1/4 cup extra-virgin olive oil
1 clove garlic, minced
1 large lemon, juiced 6 cups baby arugula
1 tbsp light brown sugar
1 tbsp vegetable oil
2 ripe peaches, thinly sliced
Kosher salt
1/3 cup crumbled blue cheese or feta
1. In a large resealable plastic bag or baking dish, combine steak, vinegar, garlic, and brown sugar. Marinate 20 minutes at room temperature. 2. Remove steak from marinade, coat with vegetable oil, and season generously with salt and pepper. 3. On a grill or pan set to high heat, cook steak until desired doneness. Rest 5–10 minutes, then thinly slice against the grain. 4. In a small bowl, whisk olive oil and lemon juice to make dressing. Season with salt and pepper. 5. In a large serving bowl, add arugula, peaches, blue cheese or feta, and steak. Drizzle with dressing and gently toss. DIRECTIONS
Barbecue Concert Fishing Fourth Independence Larkspur
Park Pool Shade Stargazing Travel Vacation
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Do You Remember the Bicentennial Celebration of 1976?
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These Donut Holes Aren’t Found in a Bakery!
Wean Your Children Off Financial Support
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Retirement Planning Doesn’t Stop at Retirement
Grilled Steak Salad With Peaches
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The Swine That Dared to Defy
AN UNCONVENTIONAL ‘BACON’ OF HOPE
The Story of the Danish Protest Pig
In the 19th century, Denmark and Prussia couldn’t agree on where to draw their border. Both countries refused to concede or couldn’t reach an agreement on which country would ultimately control Southern Jutland, which today is Germany’s northernmost state called Schleswig-Holstein. This refusal to compromise ultimately led to war, and in 1848, Denmark won control. However, their victory was short-lived, as roughly a decade later, the Second Schleswig War was underway. This time, though, Prussia was victorious.
as the Danish flag. These pigs were red in color, with one white vertical stripe and one white horizontal stripe. The farmers named their new pigs Protestschwein, or the Danish Protest Pig. This protest pig quickly became the mascot of Danish cultural independence, and their efforts didn’t go unnoticed by Prussian authorities. In 1881, a local Prussian police station sent communications back to the government in Berlin that farmers were breeding strange-looking pigs. However, while they could not prove that farmers were knowingly breeding the pigs to look like the Danish flag, “it was believed that the farmers were well aware of this and that this pig represented an affront to the Prussians,” according to records from the Red Holstein Breeders Association.
After their victory, the Prussian authorities slowly began to move into the peninsula, implementing new laws over the Danes living there. These new laws prohibited anything Danish, including all uses of the Danish flag. Needless to say, the Danes were not happy — especially the farmers.
Today, the Danish Protest Pig is recognized as its own breed but has a different name: the Husum Red
These Danish farmers knew they had to protest this oppressive Prussian government, but they couldn’t just publicly wave the Danish flag. So, they got crafty. Danish farmers began to crossbreed their pigs to create a new breed, one that had the same markings
Pied. And, the now-German state of Schleswig-Holstein supports the protection of this pig due to the cultural significance it offered its Danish ancestors so many years ago.
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