Wealth From Wisdom's online newsletter for February 2018
www.wealthfromwisdomradio.com | 866-485-8505 You Haven’t Failed UNTIL You Quit Trying
RADIO
February 2018
Scott Toms on the Importance of the Client Relationship THOSE WHO MATTER MOST
After all, it’s the clients who make it all possible for any business, including Cornerstone Wealth Management Group. the ear they have come to rely on, as well as a financial navigator. I have no doubt we have a great year ahead of us. There are many things I’m looking forward to this year in addition to developing and deepening these relationships. For instance, one of my big goals is to be more active in the community. I’m currently on the board of directors with a few nonprofits, including CASA, Inc. and Star Community, Inc. I’ve been involved in some major projects with these organizations, and it’s my goal to devote adequate time and energy to ensure these projects can really take off in the months ahead. On the Cornerstone side of things, I’m looking forward to our ongoing workshops. We have a number of educational events for clients and people within the community. These workshops cover many financial topics, and I always enjoy sharing my knowledge and insight with others.
February is the month of relationships. It’s when people share their appreciation of those who matter most in their lives; friends and family, spouses or significant others. But it’s also important to highlight the professional relationships in our lives, such as the relationship between business and client. Cornerstone Wealth Management Group. It’s the trust you place in us and the expertise we share with you that makes the relationship work. One of Cornerstone’s core values centers on the premise of putting clients first. It may seem like a simple value, but there is a lot that goes into it. That’s because it’s not just a Cornerstone value. It’s a personal value that I and every member of the Cornerstone team hold dear. We all live and work in a complex world. The smaller financial world can be just as complex to navigate. After all, it’s the clients who make it all possible in any business, including
People come to us because they know we have the expertise to guide them. They put their trust in us to guide them toward their financial goals, whether those goals are personal or related to their business. As part of my own process in helping clients navigate the financial world, I try to keep it simple. It’s about making everything accessible and easy to understand. I get to chart a course through the financial high seas while you focus on what really matters most to you. It’s also about being there when you need us most. If you have a question, we’re here with an answer. If you have a concern, we’re here to ease that concern. Your interests come before our own. With any relationship, communication is key. And a huge part of the communication process is listening. Sometimes, it seems like good listeners are few and far between, but we recognize just how important listening is. That’s why we listen more than we speak. We listen for every detail. You may have a concern you didn’t even realize you had, and we might pick up on it during a conversation. It happens more often than you’d think. As I look toward the year ahead, I’m excited to continue to develop relationships with my clients — to be
Here’s to a great new year and to building our best relationships yet!
– Scott Toms
www.CornerstoneWealthGroup.com | 1
Published by The Newsletter Pro . www.TheNewsletterPro.com
Be Social Media Savvy and STAY CONNECTED
help you gather the people you want to keep in contact with in one centralized location. Here are a few things to remember for keeping your digital friendships enjoyable. Social Media Isn’t a Diary No one wants to see a feed clogged with posts from the same person. Your friends might like reading about exciting vacations or days with the grandkids, but they don’t need updates about your wait in line at the grocery store. Sharing TMI (too much information) will put you on the fast track to losing friends. It’s Okay to Hit Unfriend Likewise, if you find yourself sick of Judy’s moment-by-moment updates of her dog’s kidney stone, feel free to cut ties. That might entail unfollowing (you remain friends, but no longer see their posts in your feed), unfriending, or blocking a person entirely. There’s no reason to keep in touch with
someone whose very profile picture makes you angry.
Check a Source Before Sharing Just because something is online, that doesn’t make it true. It’s just as easy for someone to post a lie about a celebrity or politician as it is for Judy to post about her dog. If you read a news story that gets a rise out of you, double check the facts before you hit share. Googling the article’s claims and main points will bring up similar articles — if those claims are true. This will help you determine if it’s breaking news or a big hoax. Just 10 years ago, snail mail and expensive long-distance calls were the only way to keep in touch with the people we couldn’t see every day. Thanks to social media, we can stay connected to our loved ones around the world. Now that’s something that deserves a like.
I t’s time to break the bad news to your grandkids: Social media isn’t just for them. A study from the Pew Research Center found that 47 percent of baby boomers are using social media. Facebook in particular proves to be an excellent resource for adults moving through the later stages of life. This social media platform helps keep you in touch with friends, family members who live far away, and workplace acquaintances who you don’t see during retirement. Social media can
Who Needs an Estate Plan? What You Can Accomplish With a Plan for the Future
While it’s easy for people to put estate planning on the back burner due to busy schedules or thinking they have plenty of time to get around to it, doing so can result in property and financial assets passing to unintended heirs in unintentional ways. Additionally, people fall into the belief that estate planning only benefits the very wealthy, but nothing could be further from the truth. It’s something everyone needs to engage in, regardless of age, estate size, or marital status. If you have a bank account, investments, a car, a home, or property, you have an estate. More importantly, if you have a spouse or minor children or other dependents, an estate plan is critical for protecting their interests and their future income needs.
An estate plan is also important if you want to leave behind a legacy for your family for years, if not decades, to come.
An estate plan can help you accomplish the following goals.
you appoint to act as your proxy in settling your estate and distributing your property. Avoid probate — the court process for proving that a deceased person’s will is valid and administering a descendant’s estate. Document the type of life-prolonging medical care you do or do not wish to receive should you become incapacitated. Express your wishes and preferences for funeral arrangements and how related expenses will be paid.
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Name the family members, loved ones, and organizations you wish to receive your property following your death. Transfer property to your heirs and any organizations you’ve named in your estate planning documents in an expedient manner with as few legal hurdles as possible.
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Minimize or eliminate estate taxes.
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Name your executor and/or trustee — the individuals or institution
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Are You Ready for the Next MARKET CORRECTION? Highlights of Wealth From Wisdom Radio
“Be fearful when others are greedy and be greedy when others are fearful.” –Warren Buffett For the last eight-plus years, the stock market has been on an absolute tear. As it stands, it’s currently the second-longest bull market in history. As a side effect, a lot of people have become complacent. But while everyone has become complacent — by expecting the stock market to go on like this forever — this is when, as Buffett said, you should be fearful. In fact, this is when you should take action to protect yourself. If you don’t, you could be putting decades of hard work and sacrifice on the line.
change and there is a correction, you may not be able to recover. There are people who never recovered from the last correction or the correction before that. Think back to the dot-com bubble or the 2008 financial crisis. Think about how devastating markets can be. As much as we want it to be true, the markets do not care about your livelihood, your retirement savings, or your future. They are emotionless and dispassionate. You are the one who has to take action. You are the one who has to put complacency aside and remember that every bull market has a bear market. This is just a fact of modern life. It’s not a matter of if , it’s a matter of when .
be, no one knows. Regardless, there is only one question that matters: When it comes, what are you going to do about it? To that end, how can you protect yourself and better position your investments? You can start by speaking with your financial adviser. Find if they have irreplaceable capital strategies — strategies that don’t care what the market does. Speaking with a financial professional is simply one of the best things you can do in planning for your financial future, especially in the face of uncertainty. This is just one way you can protect yourself. For much more, be sure to tune in to the Wealth From Wisdom Radio podcast dated Oct. 17, 2017, at wealthfromwisdomradio.com and prepare for whatever the future holds.
For many people, especially those at or near retirement, if market conditions
When the market correction will take place, no one knows. How big the correction will
SWEET AND ZESTY DETOX SALAD
Sudoku
INGREDIENTS For the Salad: •
For the Dressing: •
3 cups chopped kale leaves 2 cups chopped broccoli florets 2 cups chopped red cabbage 1 cup matchstick carrots 1 cup chopped cilantro 1/2 cup toasted slivered almonds 1/3 cup sliced green onions
1 large carrot, roughly chopped 1/4 cup rice wine vinegar 2 tablespoons olive oil 1 tablespoon finely chopped ginger 1 tablespoon white miso 1/2 teaspoon sesame oil Salt and pepper, to taste 1 tablespoon honey
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1 diced avocado
INSTRUCTIONS 1. To make the salad, add all ingredients to a large bowl; toss to combine. 2. To make the dressing, add all ingredients to a blender or food processor. Pulse until smooth. Season to taste with salt and pepper or add extra honey for a sweeter taste. 3. Drizzle dressing over salad and serve immediately.
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(Recipe inspired by GimmeSomeOven.com.)
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INSIDE
• Scott Toms on the Importance of the Client Relationship PAGE 1
• Don’t Commit a Facebook Faux Pas PAGE 2
• Is the Future of Your Estate Planned For? PAGE 2
• Prepare for the Next Market Correction PAGE 3
• Whip Up This Winter Salad in a Flash! PAGE 3
• The Most Romantic Destinations on Earth PAGE 4
Valentine’s Getaways THEBEST
TOFANTASIZEABOUT
Valentine’s Day is for fancy dinners, heart-shaped boxes packed with subpar chocolates, and fantasizing about the magical places you and your beau would have escaped to — if only you had the PTO. So, grab a glass of bottom-shelf cab sauv, cuddle up next to your special someone, and try to make them feel bad for taking you to Chili’s instead of whisking you away to one of these picturesque fantasy lands. Udaipur, India These days, meandering through the cobblestone streets of Paris with your loved one is très passé. All the real high-rolling romantics are migrating southeast to the famous Oberoi Udaivilas hotel in western India. Set in a traditional Mewari palace, visitors will feel like royalty as they stroll
around the labyrinthine gardens that surround the elaborate cream-colored structure. Travelers can relax beside one of the many glassy pools sprinkled throughout the estate, all of which are enthusiastically attended by an unparalleled service staff. Positano, Italy More than perhaps anywhere in the world, this place looks like it was lifted straight from a sappy romance novelist’s imagination. You and your partner can kick back on a balcony overlooking the entirety of this seaside town, taking in the century- old multicolored Italian architecture perched precariously on the verdant mountainside. Too small to accommodate swarms of tourists, it’s the perfect place to while away the hours ambling from
shop to shop, sampling the delicious local cuisine, and maybe taking a dip along the 300-meter beach. The Maldives From a water villa smack dab in the midst of the glassy, ultra-blue Indian Ocean, you and your main squeeze can enjoy utter seclusion. Sip champagne in the shade of a palm overlooking an otherworldly sunset or get a little more adventurous, strap on a mask, and check out the abundant aquatic wildlife. Many hotels in the area even include access to an array of boats, perfect for your own private excursion along the mild waves. Of course, you could also always just stare, dumbfounded, into the horizon, wondering how such a place could actually exist on Earth.
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