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F I N A N C I A L S E R V I C E S , L L C
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April 2018
April Showers Bring May Flowers
“April showers bring May flowers” is a nice springtime rhyme, but when it comes to your financial situation, it may have a deeper meaning. What do I mean by that? Just like April showers, you set the stage for abundance and vitality during retirement by planning and preparing ahead of time. Once we finally retire, we reap the rewards of all our hard work, just like the May flowers that bloom. It’s a rosy picture, but the reality is that life throws curveballs to disrupt our plans. Suddenly, we have to look at our goals in a new light, and in some cases, those goals are now out of reach. Financially speaking, things aren’t adding up. That is to say, April showers do not always bring May flowers. When it comes to retirement, clients have different notions of what it means to live life to the fullest. Some clients plan to retire close to home in Michigan. Others plan to head to warmer climates on a permanent basis. There are also folks who want to split their time between Michigan and a warmer locale. Then comes the next big question: Do I rent, or do I buy? This decision can be what determines whether you get your “May flowers” in retirement.
A lot of people are of the mindset that buying your own property is the way to go. That way, you’re not making payments on someone else’s property; you’re making payments on your own. You’re in control, and it just makes more sense. Or does it? It depends on your goals and how those costs affect your financial future. Sometimes, it makes more sense to let others worry about the details of a property, whether it’s maintenance, general upkeep, or the various costs that go into a home. To expand on this further, for some of the clients I work with, buying a home with its insurance costs, upkeep, taxes, and monthly payments doesn’t make sense financially. Why maintain a 2,400-square-foot home when you only use 1,600 square feet? Or why buy a second home you’re only going to use three months out of the year? In these instances, it may serve you better to sell (or avoid purchasing) and shift to a rental. Let someone else deal with the payments, the maintenance, and everything else. This idea holds true when looking into a vacation or seasonal home. Initial costs for a second home can be prohibitive for most
people in a full retirement situation. But as I mentioned prior, they feel they should buy rather than rent, because then they truly own it. But look at it this way: If I rent a motor home and use it for a four-week period at $2,000 per week, I limit my total cost to $8,000. In an ownership situation, between the insurance, maintenance, and other miscellaneous expenses, my costs could easily exceed $8,000 per month. So, when it comes to these kinds of luxury items, you want to ask yourself this important question: Does spending a bulk of my assets and locking them into real estate prevent me from enjoying the retirement I planned? Or, coming back to my initial sentiment, do April showers bring May flowers? I always suggest trying before buying. Rent for at least two seasons in the area you’re interested in before making a final purchase decision. And, whether it’s a second home, a condo, an RV, or another car, look at all of the associated expenses first and make sure you will be financially able to enjoy your retirement to its fullest. –Gary Mattson
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Don’t Miss Out on the Benefits of Pets
We tend to picture energetic dogs and cats thriving in young families with children, but animals are often happy to live with older, less active adults. These kinds of homes are especially suited to older animals that might otherwise have to spend their last days in the pound. Depending on your schedule and mobility, you might not want to adopt a large dog. But small lap dogs, cuddly cats, and even birds can make a great addition to your home. As long as you do not suffer from allergies, having a pet can be great for your health. The American Heart Association says pet ownership, particularly dog ownership, may be linked to a reduced risk of cardiovascular disease. Researchers found evidence to support this claim when they discovered that registered dog owners in Sweden had lower rates of cardiovascular disease and a lower risk of death than individuals without dogs. Physical fitness is far from the only benefit of pet ownership. The love and companionship our animal friends offer can alleviate depression or loneliness. Linda Anderson, founder of the Angel Animals Network in Minneapolis, says, “Older pet owners have often told us how
incredibly barren and lonely their lives were without their pet’s companionship, even when there were some downsides to owning an active pet.” Caring for a pet takes work, but for many people, the benefits greatly outweigh the challenges. An energetic dog encourages you to leave the house and go for walks, a talkative parrot makes time spent alone less lonely, and a soft cat curled up on your lap helps alleviate a stressful day. If you can’t have a pet in your home due to lease restrictions or mobility challenges, you don’t have to miss out on the benefits of being around animals. Consider volunteering at a local animal shelter. You can help care for cats, dogs, and other animals while they wait for their own forever home. There are thousands of pets in shelters across the country waiting for someone to care for them. If there’s room in your retirement plan, why not invite one into your home? You might discover both you and your new friend have something to gain.
ANNIE DUKE’S ‘THINKING IN BETS’
What a Poker Pro Can Teach You About Risk
at UPenn and has consulted for a number of companies, takes the decision-making lessons she learned at the poker table and applies them to the hard choices we have tomake in business. To emphasize the nature of her work, Duke begins with an introduction called, “Why This Isn’t a Poker Book.” She writes that the process of thinking in bets “starts with recognizing that there are exactly two things that determine how our lives turn out: the quality of our decisions and luck.” When youmake a decision, you rarely have perfect clarity regarding all the factors at play. This imperfect picture is what makes every business decision risky. Duke argues that ignoring inherent risk results in dangerous outcome-based thinking. As an alternative, she proposes that you acknowledge that not every decision will be the right one. This way, you can investigate the nature of your decision-making process and improve it without being blinded by lucky (or unlucky) results.
howmuch poker you’ve played, you never knowwhich cards the other players hold. You canmake educated inferences based on the information you gather, but there is always going to be a risk in calling a bet. The process parallels howwe decide what’s best for a company. We analyze all the information we have at hand andmake a projection about the best option. Until the decision plays out, we won’t know the outcome. Though Duke knows more about poker than just about anyone, she doesn’t limit her examples to gambling. She writes with equal skill and depth about everything fromCEOs to football coaches.“Thinking in Bets”is a comprehensive overview of risk assessment that provides countless tips on how to improve your decision-making. Even if you have no idea whether a flush beats a straight, you’ll find“Thinking in Bets”a valuable addition to your leadership library. Entrepreneurship requires makingmillions of decisions. Don’t you want tomake thembetter?
Annie Duke may seem an unlikely business consultant given that she’s best known as a professional poker player. But the lessons in her new book,“Thinking in Bets,”extend far beyond the felt. Duke, who studied psychology
Poker provides a fertile analogy for this concept. It’s a game of imperfect information. Nomatter
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Like most stereotypes, describing baby boomers as “techilliterate” doesn’t tell the full story. Bill Gates is a baby boomer, after all. While not everyone in the “golden generation” is on Facebook, that doesn’t mean they can’t use technology. These three mobile apps are perfect for tech-savvy boomers looking to achieve their financial goals. ACORNS. Acorns is the best way to make your spare change work for you. Every time you use your debit or credit card, Acorns will round up the spare change of that purchase to the next dollar and then invest it. Take that $2.30 cup of coffee from this morning, for example. This app rounds that transaction to $3.00, places the $0.70 extra into a fund, and invests it. This strategy, called “microinvesting,” may not seem like much, but remember that a mighty oak tree starts as an acorn! ROBINHOOD. For many Americans, investing is either too intimidating or just downright costly. And no matter how well your portfolio does, you always lose a chunk of earnings to fees and commissions. Robinhood is an app that removes all fees associated with stock trading and gives you free rein to buy and sell as you please. With seamless money transfers, Robinhood is a great way to build a large portfolio. It can even function as a small invested savings account. VENMO. While it used to take weeks to transfer money by Western Union’s horse-drawn carriages, it now takes seconds with Venmo. This app gives you the ability to send money to friends and family via your phone. With a user-friendly interface, it’s quick and easy to set up an account and link bank accounts or credit cards. Once you’re up and running, sending money is as simple as pressing a button. If you’re intimidated by learning how to use mobile apps, connect with a family member or friend. All of these apps are designed to be intuitive and easy to learn, so with a little time and practice, you can be savvy technologically and financially! FINANCIAL TECHNOLOGY FOR THE GOLDEN GENERATION
MARY’S ROASTED ASPARAGUS WITH LEMON BREADCRUMBS
Ingredients
• 2 pounds asparagus • 1/3 cup plus 2 tablespoons extra-virgin olive oil • Kosher salt • Freshly ground pepper • 2 garlic cloves, minced
• 1 cup panko breadcrumbs • 1 tablespoon flat-leaf parsley, chopped • 2 teaspoons lemon zest • Juice of one lemon (not packaged lemon juice)
Puzzle Your Brain!
Directions
1. Heat oven to 425 F. Toss asparagus with 2 tablespoons olive oil and season with salt and pepper. Place on baking sheet and bake for 20–26 minutes, turning asparagus halfway through. 2. When asparagus is nearly done, heat remaining olive oil in a small skillet over medium heat. Add garlic and cook for 1 minute. Add breadcrumbs and cook for 5 minutes, stirring frequently. Remove from heat and fold in parsley and lemon zest. 3. Transfer asparagus to serving platter, drizzle with lemon juice, and top with breadcrumb mixture.
Recipe inspired by Food andWine Magazine
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Do April Showers Bring May Flowers?
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Fit Pets Into Your Retirement Plan Entrepreneurship Library: ‘Thinking in Bets’
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3 Must-Have Financial Apps for Baby Boomers Roasted Asparagus With Lemon Breadcrumbs
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3 Places to View Natural Wonders
**Reminder: If you have any changes to your financial situation, please notify us as soon as possible.
Investment advisory services are offered through Mattson Financial Services, LLC, a Registered Investment Adviser in the state of Michigan. Insurance products and services are offered through Lakeview Financial Group, LLC. Mattson Financial Services, LLC, and Lakeview Financial Group, LLC are affiliated companies.
One-of-a-Kind
NATURESCAPES
BIOLUMINESCENT PLANKTON IN JAMAICA
NORTHERN LIGHTS IN SCANDINAVIA
If you’re lucky enough to be in the right place at the right time, you might see rare magical sights — baby turtles scuttling toward water, glowing lagoons, or a shimmering sky. But when and where do you need to be to catch these natural wonders?
Imagine looking out at the water as the sky gets dark and seeing it turn a bright, glowing blue. That’s the sight you might be treated to at Luminous Lagoon in Jamaica, where dinoflagellates, microscopic organisms in the water, lend their glow to the lagoon. These tiny organisms thrive in areas where salt water and fresh water meet, making the lagoon in springtime an ideal place to see them.
One of the most elusive natural
wonders, the aurora borealis, can only be seen on dark nights in the most northern parts
SEA TURTLES HATCHING IN HAWAII
On Oahu’s North Shore, head to Turtle Beach, which gets its name from the many turtles that nest along its shores. During late spring and summer, the waves subside, allowing turtles to crawl onto the beach to lay their
of the world. That makes Sweden and its Scandinavian
neighbors a great place to see the phenomenon. From December through April, you’ll have your best chance of seeing the northern lights. Sightings are dependent on solar activity, so it’s impossible to predict the exact timing and location, but they’re easier to see during the longer, darker nights of winter and early spring. ECO TIP: Book your trip through a responsible travel company, such as those that practice a fair-trade policy.
ECOTIP: To ensure this
eggs. Baby turtles hatch at night and make their way to the water by the light of the moon. If you do head to the beach at night to see this spectacle, don’t use white light, as it can disrupt the turtles’ progress (that means no flash photography). ECO TIP: Look, but don’t touch! It’s illegal to touch a sea turtle in Hawaii.
magical sight will remain for years to come, always go with a“pack it in, pack it out”mentality. Take all of your belongings with you when you leave and be respectful of the beautiful environment that is yours to enjoy.
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