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YOUR FINANCIAL ADVOCATE 24 NOV
A Great Big Beautiful Tomorrow HISTORY REPEATS
“Four score and seven years ago, our fathers brought forth on this continent a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.” — Abraham Lincoln.
four distinct phases, with the fourth often culminating in some kind of major upheaval or revolution.
By the time you read this, at least half of the country will likely be upset by the results of the 2024 election, adding to the growing sense of outrage we’ve seen year after year. While things feel particularly polarized right now, it’s important to remember that we’ve faced similar challenges before. History shows us that humans go through periods of intense conflict and change, but these “spasms” are often part of a larger transformation. If we stay focused and grounded, we can get through these turbulent times and come out stronger on the other side. If you look back as far as the Bush versus Gore election, each cycle since has grown more contentious, with increasing outrage and division feeding into a sense of aggression. So, where does this lead us, and how does it impact you, my clients? Every day, I wrestle with how to best guide and advise my clients through what’s shaping up to be a turbulent period. The aftermath of this election will be telling, especially when it comes to the acceptance speech — regardless of who wins. I anticipate that about half the country will be enraged and navigating the fallout from that will be challenging for us all. What I do know is that the generation, or “first turning,” that comes after this period will approach things with a fresh perspective. Historically, whether it was after the Civil War or World War II, this new outlook has often been filled with optimism and renewal. As we navigate the current political and economic landscape, coupled with the incredible pace of technological change, I can’t help but think of that catchy Disney tune: “There’s a great big beautiful tomorrow shining at the end of every day.”
About 160 years ago, on Nov. 19, Abraham Lincoln delivered the iconic Gettysburg Address. As we now contemplate the 2024 presidential election, I find myself reflecting on our nation’s history and the striking parallels between Lincoln’s time and our current moment. The mood of the country during Lincoln’s address — marked by angst, uncertainty, fear, and division — feels eerily similar to where we are today. Just as Lincoln faced a deeply fractured nation, we, too, are grappling with widespread unrest and tension. His words resonate now as much as they did then and remind us of the enduring struggles and resilience of our democracy. I’ve been reading “The Fourth Turning Is Here” by Neil Howe, a fascinating book that looks at our nation’s history to help forecast its future. It explores cycles of history and how societies go through
Yes, things may get rough, but I truly believe that better days are ahead. Hang onto your seat!
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LAURA BLUMENSTIEL ESTATE PLANNING AND PROBATE ATTORNEY STAFF SPOTLIGHT:
WHAT DOES YOUR TYPICAL WORKDAY LOOK LIKE?
having fostered over 150 animals to date. I also serve as a transport coordinator for a local rescue, a role that resonates deeply with my passion for helping animals find their forever families. Outside of animals, I’m passionate about mental health and serve as a board member on the Delaware-Morrow Mental Health and Recovery Services Board. WHAT IS YOUR FAVORITE PART OF YOUR JOB? I love coming to work each day and really enjoy my job. Everyone who works here feels very supported, which makes us
My typical workday consists of meeting with clients and drafting estate planning documents. I also work on estates we administer through probate court. I consider it part of my job to help make that process as easy as possible for people who have just lost someone they loved. WHAT IS SOMETHING MOST PEOPLE DON’T KNOW ABOUT YOU? Outside of my legal career, I’m actively involved in dog rescue. I’ve been a dedicated rescuer for my entire adult life,
happy to do our jobs for the clients. My favorite part of my job is definitely working with the clients. I’m passionate about helping individuals and families plan for the future and guiding them through the probate process during difficult times.
WE APPRECIATE YOU
WHAT HAVE WE BEEN TALKING ABOUT IN THE PODCAST?
We want to use this space to express our gratitude to the following members of the community who have recently
EPISODE 36: “Take Control of Your Time: Don’t Let Time Control You” EPISODE 35: “How Attorneys Can Build Stronger Client Relationships and Enhance Their Practice With Ari Galper” EPISODE 34: “Understanding How to Plan for Required Minimum Distributions (RMDs)”
left us a review or have referred someone to our care. Thank you!
Ginny Kindberg David Cook Alex Kurtz Tracy McLaughlin
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Essential Year-End Financial Moves to Consider Now Ready for 2025?
While it may not necessarily feel like it, 2024 is rapidly coming to a close — hey, there, 2025! This time of year, it’s important to review your financial health. Whether you’re planning for retirement, managing investments, or preparing for tax season, the last few months of the year offer a great opportunity to make smart financial decisions. Let’s take a look at a few financial moves to consider before the end of the year. MAXIMIZE RETIREMENT CONTRIBUTIONS. If you haven’t already done so, now is the time to maximize contributions to your retirement accounts. For 2024, you can contribute up to $23,000 to a 401(k) if you’re under 50 and an additional $7,500 if you’re over 50. If you have an IRA, the contribution limit is $7,000, with a $1,000
catch-up contribution allowed for those over 50. By fully funding these accounts, you can reduce your taxable income and ensure you’re on track for retirement. REVIEW TAX WITHHOLDING AND MAKE ADJUSTMENTS. Before tax season arrives, take a look at your current tax withholding. If you’ve experienced any major changes this year, such as a new job, marriage, or additional income, your withholding might need adjusting. Keep in mind that if you’ve underpaid throughout the year, you can make a fourth-quarter estimated tax payment to avoid penalties. HARVEST TAX LOSSES. By selling investments that have lost value, you can reduce your taxable income and
improve your overall portfolio. This strategy is especially useful at year’s end when many investors review their portfolios to rebalance and plan for taxes. CONSIDER CHARITABLE GIVING. The holiday season is the perfect time to make charitable donations, not just for the good it does but also for the tax benefits. Donations to qualified organizations can reduce your taxable income if you itemize deductions. Taking these financial steps before the year ends can help set you up for success in the year ahead and minimize tax liabilities to ensure long-term financial stability.
SUDOKU
SPINACH, LENTIL, AND ROASTED BEET SALAD
Inspired by MinamalistBaker.com
INGREDIENTS
Dressing •
1/2 cup green lentils, rinsed clean 1 cup vegetable stock (or water)
• • • • • • •
1/4 cup tahini
3 medium leeks, chopped 1 medium beet, quartered
1/2 medium lemon, juiced
• • • •
2 tbsp maple syrup 3–4 tbsp olive oil
1–2 tbsp olive oil
1/4 tsp each salt and pepper 4 big handfuls of spinach
1 pinch each salt and pepper
DIRECTIONS
1. Preheat oven to 400 F and grease a rimmed baking sheet. 2. To a small saucepan over medium-high heat, add lentils and stock and bring to a boil. Reduce heat and simmer for 20–30 minutes uncovered until all liquid is absorbed. Set aside. 3. Add leeks and beets to the baking sheet, drizzle with olive oil, and season with salt and pepper. Bake 15–20 minutes. For crispier beets, bake for an additional 10–15 minutes. Set aside. 4. In a small bowl, whisk all dressing ingredients until combined. 5. In a larger serving bowl, combine spinach, beets, leeks, and lentils. Add dressing and toss to coat.
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YOUR FINANCIAL ADVOCATE A publication of Advocate Wealth Solutions, blending original and curated content, and is intended to educate the general public about investing, finance, estate planning, personal injury, and small-business issues. It is not intended to be legal or financial advice. Every situation is different. The information in this newsletter may be freely copied and distributed as long as the newsletter is copied in its entirety.
INSIDE
Lessons From Lincoln and the Fourth Turning PAGE 1
Staff Spotlight: Laura Blumenstiel
Our Podcast
Client Appreciation PAGE 2
Key Moves to Make Before 2025 Arrives
Spinach, Lentil, and Roasted Beet Salad PAGE 3
A Big Wintertime Playground PAGE 4
The Unique Allure of Big Bend National Park
Most national parks are full of visitors from spring through fall. Big Bend National Park turns that schedule upside down. The ideal time to visit this southwest Texas wonderland of wild river canyons and stunning mountain vistas is from October through May — the offseason for most national parks. But summertime temperatures in Big Bend soar to 105 degrees F or more, too hot for safe vacationing, while wintertime is mild and usually sunny. Many tourists and vƒacationers have recently discovered the park, driving visitation 16% higher since 2018 to more than 511,000 people annually. Big Bend offers a diversity of sights and terrain. Elevations soar from about 1,800 feet along the Rio Grande River to almost 8,000 feet in the Chisos Mountains.
Boating and rafting trips along the Rio Grande, which Congress designated as a free-flowing Wild & Scenic River, take visitors through the spectacular Santa Elena Canyon limestone cliffs. Options range from a leisurely float lasting less than a day to a seven-day wilderness adventure down the Lower Canyons. Big Bend is also a birder’s paradise, with 450 species sighted there on various occasions. The park also offers an abundance of family- friendly activities. A legal Port of Entry enables visitors who bring their passports to cross the Rio Grande River and visit the shops and restaurants of a rural Mexican village, Boquillas del Carmen. Families also enjoy stargazing at the Sotol Vista Overlook, scrambling over the boulders on the Upper Burro Mesa, and trekking the Grapevine Hills trails to see Balanced Rock, a giant boulder
seemingly teetering in midair between two smaller boulders. Kids can also see dinosaur remains at the Fossil Discovery Exhibit or explore the ruins of a mercury-mining ghost town, Terlingua. Five visitor centers are usually open through the winter. Construction of a new visitor lodge and water system will begin in late 2024, likely causing some disruptions. However, Big Bend has four developed campgrounds and many backcountry camping opportunities. Most campsites are filled six months in advance, so reserve a spot early for your winter camping adventure.
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