Retirement Planning Strategies - July 2022

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JULY 2023

HEALTHY, WEALTHY,

& Wise

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WHY ARE WE GOING SO FAST? FIND YOUR PACE ON YOUR TERMS

As I continue to share wisdom I’ve gained over the years, I thought I’d relay a goal I’m still trying to achieve; finding my pace. Our pace in life can vary, yet most of us seem to think that fast is better, but why? In the U.S., we’re movers and shakers, always trying to reach success as quickly as possible. However this isn’t always the right path and can even take a toll over time on our physical and mental health.

…YOU OFTEN HEAR PEOPLE SAY IT’S ALWAYS BETTER TO MEASURE TWICE AND CUT ONCE.

What happens when we’re always in the fast lane? We become restless, anxious, worried, and end up exhausted. That shouldn’t be normal! Moving fast might make you feel productive but can lead to subpar results – and not just in our work life. We can all benefit from slowing down in every aspect of our lives. Planning and reflecting may take time, but doing things right the first time tends to be worth it. Like in carpentry,

discover the balance between the two that will bring you closer to self-fulfillment. Of course, this doesn’t happen overnight. Take your time, experiment, and find what pace works best for you. Just slowing down is a step in the right direction. We are often tempted to quicken our pace to seem productive but often end up procrastinating on our goals. We live in a pressure-driven world where we feel the need to be productive and become “successful” as young as possible. However, many prominent figures in our society didn’t reach their goals until later in adulthood. For example, finance guru Suze Orman was a waitress into her thirties, and iconic actor Harrison Ford was a carpenter until his thirties! Mary Kay Ash, founder of Mary Kay, sold books and home goods door-to-door until she was 45. There’s no time or age limit on success. Let’s stop feeling pressured to move at a pace that doesn’t benefit us and think before you jump! Shake off that feeling to impress those around you. Sit down, breathe in, and breathe out. Take time to get to know yourself, your goals, and picture what life you want to live. You never have to take someone else’s path or their pace. I’d love to hear about when you needed to slow down! How did getting off the fast lane benefit you? –Ann Vanderslice

you often hear people say it’s always better to measure twice and cut once. Taking your time often gets better results. So why are we constantly

racing against the clock? The idea that we’re running out of time may force us to move unreasonably fast with no true sense of direction for the long run. Finding your pace can be how you focus on the best next step. There are times when you need to contemplate, and there are times to move faster. It’s up to you to

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SHOULD YOUR ADULT CHILD PAY THEIR WAY?

When to Close the Bank of Mom and Dad

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

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.

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

SIMPLE WAYS TO COMBAT RISING COSTS

These Strategies Can Save You Money

Amid rising inflation, it might seem impossible to save money. Costs are rising across the board: groceries, housing, energy, even transportation. According to the U.S. Bureau of Labor Statistics, we’re now paying six percent more for products and services as compared to March 2022. If more money is being spent on hiked-up prices, cutting costs where possible might be just the ticket. Try Fine Dining at Home We get it. Cooking every night can feel like a nightmare, especially if you’re accustomed to dining out regularly. Consider replacing pricey date nights with cozy at-home dinners where you amp up the atmosphere. Light a few candles, play relaxing music, sip wine, and cook a meal to remember. This will not only save money, but you might discover a new love for cooking! Cancel Any Unused Subscriptions If signing up for free trials and forgetting to cancel in time were a crime, we’d all be

guilty. Many don’t even fully know what paid subscriptions we have! Do an audit of all your subscriptions and cancel the ones you don’t need. You might find some prices have been increased without you knowing it. It’s shocking how much you can save by canceling unneeded or costly subscriptions, be it streaming, apps, or in- person memberships. Shop Strategically Amazon may be a fantastic convenience, but it isn’t necessarily the least expensive option. While you may be saving time when you shop online, you may not be saving money. Particularly in times of inflation, you should search for the best deals instead of taking the quick and easy way out. Renegotiate Your Bills Many times, all it takes is a call to a provider (cable, streaming, cellphone, and other companies) to lower your monthly bills. You’d be surprised how easy negotiating

your payment can be. These companies will do most anything to ensure you don’t leave, and they often give you a lower price without haggling! Times like these can be challenging, especially for those already counting their pennies. But with a few changes, you can help ensure that inflation won’t empty your pockets. All it takes is thinking outside the box, some budget planning, and sticking to it!

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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. 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. 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 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. Today, the Danish Protest Pig is recognized as its own breed but has a different name: the Husum Red 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.

Train Your

BRAIN!

Easy Chipotle Portobello Tacos

Inspired by FeastingAtHome.com

INGREDIENTS

Chipotle Marinade • 1 tbsp oil • 2 tbsp sauce from canned chipotle in adobo sauce • 1 garlic clove, minced • 1/2 tsp cumin • 1/2 tsp coriander

• 2 large portobello mushrooms • 1 red bell pepper • 1/2 onion • Salt, to taste • 14-oz can refried black beans • Vegan crema (optional) • Avocados (optional) • 4 tortillas

DIRECTIONS

1. Preheat oven to 425 F. 1. Slice mushrooms and bell pepper into 1/2-inch-thick slices. Then, cut onion into 1/2-inch thick rings. On a parchment-lined sheet pan, place all sliced vegetables. 1. In a small bowl, whisk marinade ingredients together. 1. Brush both sides of mushrooms with a liberal amount of marinade. Then, lightly brush the bell peppers and onions. Sprinkle salt on the mushrooms. Roast vegetables for 20 minutes or until mushrooms are tender. 1. Heat beans and prepare additional toppings if desired. 1. Spread refried beans on warm tortillas and top with mushrooms, bell peppers, onions, and any additional toppings.

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issue INSIDE THIS You Need to Slow Down PAGE 1

Wean Your Children Off Financial Support

Don’t Let Inflation Drain Your Finances PAGE 2

The Swine That Dared to Defy

Easy Chipotle Portobello Tacos PAGE 3

How a Byzantine Princess Introduced Forks to Europe PAGE 4

IN FORKS WE TRUST How Europe Eventually Stopped Eating With Their Hands

If you attend a dinner party, go on a date at a restaurant, or eat a plate of pasta, you’ll use a fork

move into her new house, including a case of golden forks. At the wedding, she pulled out one of her golden forks to partake in her wedding feast, and the reaction she got took her by surprise. The clergy lambasted her, saying things like, “God in his wisdom has provided man with natural forks — his fingers. Therefore, it is an insult to him to substitute artificial metal forks for them when eating.” However, this didn’t urge the princess to eat with her hands, and she stuck with her forks. Shortly after the marriage, the Byzantine princess, unfortunately, contracted the plague and passed away. Many believed this was “karma” for refusing to eat with her hands and bringing a fork to her husband’s home. But thanks to Maria Argyropoulina, Europe was introduced to the fork and never had to worry about eating spaghetti and meatballs — or any other dish — with their hands again.

without thinking twice. This is proper etiquette — and the cleanest and most efficient way to eat a meal! Could you imagine trying to eat a plate of spaghetti

and meatballs without one?

Wealthy people in other parts of the world, such as the Byzantine Empire and the Middle East, have been using forks since the 17th century. However, before that, forks were considered to be sacrilegious and rude to use at the dinner table in Europe! In fact, in the 11th century, a Byzantine princess was ridiculed for bringing forks into her new husband’s home. Maria Argyropoulina, the Greek niece of Emperor Basil II of Byzantium, arrived in Venice, Italy, prepared to marry Giovanni, the son of Pietro Orseolo II, the Doge of Venice. She brought all of her belongings with her to

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