Check out our July newsletter!
L J
FINDING OUR FREEDOMS In 1776, 56 men signed the Declaration of Independence. The men who signed this document weren’t just making a statement about their beliefs of freedom and equality — they were putting their lives on the line for it. At the time, just signing that document was treason. If the colonies lost the war for independence, all of those men would have likely been hanged. When we learn about the history of the American Revolution or see the Declaration of Independence beneath glass at Independence Hall, it can be easy to forget the true gravity of what that war was about. Our Founding Fathers were willing to fight and die for freedom and equality.
-
6 0
I believe I have been blessed to grow up in this country where life, liberty, and the pursuit of happiness serve as the foundation of our independence. We can choose where to live, what religion to follow, who we love, what career to pursue, and what we believe. We have a right to our own opinions and can voice them publicly. The commitment to freedom and the willingness to work hard for that freedom has allowed the United States to thrive. We enjoy many comforts and are able to make choices that people in many countries around the world don’t have access to. We can go to a national park with our family, eat ice cream or apple pie, and go boating or play golf. These are luxuries to be sure, but they exist because of our willingness to work hard for freedom. The human spirit tirelessly seeks freedom and independence. As a financial professional, I have come to realize that most people define freedom as living the lifestyle they desire. They will work to achieve this lifestyle by saving a portion of what they earn throughout their working years and investing that savings to build enough wealth to support their goals. This is not an easy task. While it’s certainly not the hard-fought battle of our forefathers, it cannot be achieved overnight or without hard work, discipline, and patience. Like the power of compounding interest, results happen gradually. Small incremental steps repeated over time can have a huge impact on your bottom line and your quality of life. If you expect instant results, you may never achieve them and may give
up too quickly. Freedoms, be they financial freedoms or social freedoms, are fought and won by those willing to do the hard work and put in the time. So be patient and reach for your dreams! Much has changed over the past few months, and I have found myself asking people what independence really means in 2020. Are independence and freedom still predominate desires? The answer is yes. We see people calling for personal freedoms and liberties to this day, but we also gave up many of our freedoms without question earlier this year. While it can be discouraging to think about how long it may take to restore these freedoms, it’s important to realize that the journey is the most important part of reaching one’s desired destination. On this journey, we will grow and learn much about our personal potential. The Founding Fathers knew that winning the war wasn’t the end of the journey. They worked to create a system of government to preserve and protect the rights of the people, limit governments’ power and created a representative form of government. Their efforts ensured that personal and financial freedoms are within any citizen’s reach, if they are willing to work hard, keep a positive attitude, respect the virtues of patience, and maintain a willingness to persevere until they reach their goals. That’s a battle worth fighting for!
—Deb Matz
1
DLJTAXSERVICES.COM • DLJWEALTHSERVICES.COM
How NHL Goalies Live in the Moment OVERTHINKING UNDERMINES YOUR SUCCESS
On Feb. 22, 2020, David Ayres was sitting in the stands next to his wife watching a Carolina Hurricanes hockey game. By the end of the night, this 45-year- old Zamboni driver would be the first emergency goaltender to record a win in the history of the NHL. After the Hurricane’s first two goalies were taken out of the game due to injuries, Ayres was called onto the ice. He stopped eight out of 10 shots, helping the Hurricanes claim victory. This isn’t the first time an emergency goalie has been called in to help win an NHL game. When Scott Foster, a 36-year-old accountant, was called in as an emergency goalie for a 2017 Blackhawks home game, he didn’t let a single puck
A good goalie cannot overthink anything. They must be able to assess the situation and react instantaneously to block a speeding puck. Physical training is only half the battle. Achieving true success means mastering the psychological game. This kind of mental fortitude can be valuable in business, too. “The key difference between those who get the gold medal and those who don’t is between the ears,” says Martin Turner, senior lecturer in sport and exercise psychology at Staffordshire University. “Business leaders can learn to develop robust psychological skills to help them fulfill their potential under pressure, and importantly, help others around them fulfill their potential.”
How can you learn to stop yourself from overthinking during high-pressure situations? Don’t view those high-pressure situations as life or death.
“It was wild; it was fun,” said Ayres after his historic win. “These guys were awesome. They said to me, ‘Have fun with it, don’t worry about how many goals go in. This is your moment — have fun with it.’” “Have fun” is exactly what Ayres did, and the Hurricanes won the game. When you find yourself overthinking a high-pressure situation, remind yourself that no matter what decision you make, it’s not the end of the world. That moment is just one of many opportunities you’ll be presented with. Above all else, keep a positive outlook. Win or lose, success or failure, being positive will always take you far.
past him. How are ordinary men like Ayres and Foster able to go from sitting in the bleachers to crushing it on the ice at a moment’s notice? They have the remarkable ability to thrive under pressure by not overthinking their situation.
LESSONS LEARNED FROM SUMMER JOBS
What was your favorite summer job? I had several different jobs over the
summers in my youth, but my favorite was working as a lifeguard on Lake Michigan. I spent my afternoon and evenings sitting on the beach, watching people play in the waves and enjoying the sunshine. As far as summer jobs go, that was an awesome summer gig. Over the years, I’ve noticed that fewer teenagers seem to be working during the summer. The Pew Research Center found that in 1978, 58% of teenagers had summer jobs. In 2018, that number had dropped to 34.6%. Is this a sign that today’s teens aren’t as hardworking as past generations? Not at all. The reality is simply that there are fewer low-skill, entry- level jobs available for teens to work during the summer. Additionally, many schools now end later in June or start before Labor Day, which removes them from consideration for many hospitality jobs. Also, employers are less likely to hire young workers who need to be trained and can only work for a few weeks.
a schedule, and how to work with others, especially people outside of our social circles. These early jobs can even give us a lifelong appreciation for how hard certain jobs really are. Paychecks from a summer job often provide young people with their first experience of managing money. Some young people aren’t getting this crucial life skill until they land a full-time job after they complete their schooling. At this point, the financial stakes are higher and the responsibilities greater. The lack of summer job opportunities for teenagers has not been holding young people back from getting valuable life experiences. Data from the Bureau of Labor Statistics shows that more teens are voluntarily taking high school or college classes over the summer, doing volunteer work, or taking unpaid internships. These are great opportunities, yet parents should be aware of what their teen might be missing by not working summer jobs, especially when it comes to personal finance. As parents recognize this fact, they are hopefully more likely to help their children understand the nuances of good money management and maybe even teach them how to avoid some of the lessons many adults have to learn the hard way. Did you have a summer job that you’re still telling stories about? Or maybe you were ahead of the trend and spent your summers volunteering. We’d love to hear about your experiences! Share your stories now on our Facebook page by searching DLJ Tax Services LLC at Facebook.com .
The decline of summer jobs for teens is troubling because youths miss out on an important life experiences to build future success upon. Summer jobs teach us responsibility, the importance of keeping 2 APPLETON: 920-944-6020 • NORTHEAST GEORGIA: 678-491-9744
DID YOU KNOW?
Basic Tax Information Everyone Should Know Right Now
6 STEPS TO SUCCESSFUL WEALTH GARDENING What do a good gardener and a successful wealth manager have in common? They both tend to have more green than they know what to do with! Gardening and wealth-building have more in common than people realize. Here are six steps to help successfully grow your garden and your wealth. 1. Start with a plan. When you start a garden, you shouldn’t just bury a bunch of seeds and hope for the best if you want a bountiful harvest. You need to have a plan. What vegetables grow well in your soil and climate? Where should your garden be located so your plants get enough sun? Wealth-building calls for a similar level of planning. Outline your goals, research investment options, and learn what must occur to reach your goals. 2. Water and fertilize regularly. Once seeds are put into the ground, they need to be nurtured to grow strong and plentiful. A healthy garden needs to be watered and fertilized. The same is true in wealth management. You need to be making regular contributions to your accounts, utilizing periodic investing principles, and fund an emergency account.
1. If you need to file an extension request until Oct. 15, the extension is merely
more time to complete your tax return, any tax payments are still due July 15. Taxpayers need to estimate their tax liability on the form and pay as much as they can by July 15 to avoid possible penalties and/or interest.
2. If you cannot afford to pay your full tax obligation, qualified taxpayers can choose to request an installment arrangement. Use the Online Payment Agreement application to set up a payment plan (IRS.gov/payments/online- payment-agreement-application), or request a payment agreement by filing Form 9465, Installment Agreement Request. 3. Haven’t received your refund? Check the status online. Go to “Where’s My Refund?” on IRS.gov or download the IRS2Go mobile app to get the most up-to- date information.
3. Consider cost efficiency. The most expensive and exotic plants or opportunities are not necessarily the best options. They tend to need more attention and still may not survive. In gardening, you need to be aware of your growing zone and soil conditions in order to grow strong healthy plants. Likewise, when building wealth, you need to identify your risk tolerance — your ability to weather market fluctuations — and willingness to prune back fast growers to create the wealth and financial security you desire. 4. Don’t underestimate diversity. In a garden, a variety of plants is often most pleasing to the eyes and appetite. But too many varieties make it hard to manage and maintain your garden. The same is true for your portfolios. Having a variety of investments can minimize risk and
4. If you want to check the status of your Economic Impact Payments, Go to the IRS.gov website and search for “Get My Payment” or use this link: IRS.gov/coronavirus/get-my-payment.
lessen the impact of a volatile market, but overdiversifying can dilute those advantages. Too much of any good thing can become harmful, just like too much water in a garden can drown the plants. So diversify strategically, not for quantity. 5. Commit to weeding and maintenance. Sometimes plants struggle to grow or weeds invade the garden. When this happens, you need to roll up your sleeves and start pruning. It’s not uncommon for certain investments to become like weeds in your portfolio. You need to keep an eye on your portfolio and be prepared to prune back fast growers and replace investments that aren’t thriving. You don’t want any investment to be more than 20% of your total portfolio value. Stick with your plan to balance potential risk with potential growth. 6. Practice patience. A good gardener knows the importance of being patient. You have to wait if you want anything to grow. Wealth doesn’t grow overnight. Make sure you’re prepared for the long haul and are aware you may need to weather many storms. As you get closer to retirement age, you can look closer at other strategies to protect your nest egg. Some people seem like they have a green thumb for gardening or investments, but even the best will tell you it’s not a matter of luck but of dedication. If you need help getting started on your wealth-building goals, give us a call! And if you need help with your outdoor garden, we suggest checking out GardeningKnowHow.com.
DLJ Wealth Services, LLC is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Advisory services are provided by DLJ Wealth Services, LLC. DLJ Wealth Services, LLC is a registered investment advisor. Tax advice is provided through DLJ Tax Services, LLC, a separate legal entity, but both companies are owned by Deb Matz.
3
DLJTAXSERVICES.COM • DLJWEALTHSERVICES.COM
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
APPLETON: 920-944-6020 NORTHEAST GEORGIA: 678-491-9744
DLJTAXSERVICES.COM DLJWEALTHSERVICES.COM
500 W. FRANKLIN, STE. E • APPLETON, WI 54911
Our Journey to Independence
NHL Goalies Can Help You Stop Overthinking
Whatever Happened to Summer Jobs?
6 Tips to Grow Your Wealth Like a Garden
Putting You In Control
The Power of the Golden Spice
An Introduction to Turmeric’s Health Benefits and one study even notes that turmeric seemed to work just as well as ibuprofen (Advil) for people with arthritis in their knees. Participants in that study took 800 milligrams of turmeric every day. Can it help the liver? Yes. One of the spice’s most notable characteristics is its powerful antioxidant abilities. Antioxidants play an important function in our bodies. The average person is exposed to refined and processed foods, smoking, environmental pollution, and chemicals found in pesticides and drugs. Turmeric can protect the liver from damage due to these toxins, which also aids those who take strong medications known to cause long-term liver damage. Can it decrease symptoms of hay fever and depression? Some symptoms, yes. The curcumin in turmeric can help reduce hay fever symptoms like sneezing, itching, runny nose, and congestion. When used in tandem with antidepressants, turmeric may help reduce symptoms of depression. There are many benefits to using turmeric in your weekly meal routine. Try out some Indian or Chinese recipes or prepare some Instagram- worthy golden milk. In whatever you make, enjoy the rich flavor combinations turmeric offers!
People have raved about many superfoods over the past few decades, but one that’s
garnered notable attention is turmeric. Fittingly known as the golden spice due to its orange-yellow hue, turmeric is famous for being a crucial part of Indian cuisine, ayurvedic medicine, and Chinese medicine. But does turmeric actually help people? And if so, how? Let’s start with the basics to find out. What’s in turmeric? First, it’s important to know what the spice contains and why researchers are so excited about it. Turmeric is packed with a chemical known as curcumin, which has been shown to provide anti-inflammatory effects, pain relief, antioxidants, and a decrease in the risk of cancer. Pro Tip: You should not consume excessive amounts of turmeric if you take medication that has blood-clotting effects, such as aspirin. However, a moderate amount typically doesn’t react with these or other medications and has many other benefits. Can it improve joint health? In many cases, yes! The Arthritis Foundation recommends taking a 400–600-milligram tablet of turmeric up to three times daily. Multiple studies cite turmeric’s ability to reduce inflammation and relieve arthritis pain,
4
APPLETON: 920-944-6020 • NORTHEAST GEORGIA: 678-491-9744
Page 1 Page 2 Page 3 Page 4Made with FlippingBook - Online catalogs