Wolf Retirement Navigation September2018

904-232-8760 www.wolfretirement.com MONTHLY RET IREMENT NAV IGAT ION

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September 2018

Are You Ready?

Prepare Your Accounts Before the Holiday Season

4. Have you planned for rising interest rates? Do you remember the high interest rates of the ’70s and ’80s? They have been all but forgotten, thanks to the low interest rates of the past nine years. But interest rates have increased recently, lowering the values of many bonds and increasing rates for principally protected insurance and bank products. Variable loan rates have increased as well, which will reduce cash flows and budgets. Ask if you should reduce bond exposure; and, if so, what you should be investing in. 5. Do you have a plan at all? I’ve talked about this many times in the past, but it bears repeating. Winging it without a plan is dangerous. If you want to enjoy the retirement you’ve always envisioned, your goal should be to get proactive and eliminate or reduce the risks that are within your control before they occur. These are just a few tips to help you get into a good place before the holiday rush. Take advantage of this slow time right now, because it will be January before you know it. Our doors are always open to you to answer any and all questions you may have. Let us help you address all the above-mentioned items in order to build a smart written plan tailored for you so that you can enjoy the retirement lifestyle you so richly deserve! –Adam Wolf, CPA, CFP ® Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed Insurance and Annuity product guarantees are subject to the claims‐paying ability of the issuing company and are not offered by Retirement Wealth Advisors.

September is a weird month. With the kids and grandkids back in school, we’ve officially left behind the unscheduled and spontaneous months of summertime. But we’re not quite yet into the constant chaos and busyness of the holidays. We’re in a bit of a lull; and while it’s tempting to kick back for a moment and just take a breather, I believe September is the best time to plan your battle strategy for the rest of the year. for others, it might mean hammering out exactly where they’re going for Thanksgiving this year. I can’t give you any suggestions for your holiday plans, but I can say that your holidays will be a lot more relaxing if you don’t have to worry about what your financial accounts are doing. Here are a few retirement risks you should think about now, before you get too busy during the holiday season. 1. Does your portfolio have too much risk? Are you taking too much risk? Do you know what your returns are? Do you know what the worst-case loss scenario is in your portfolio? While focusing only on potential loss is counterintuitive to focusing on growth, knowing what your losses could be helps you to build a smarter plan that better balances your risks and rewards and establishes a Investment Advisory Services offered through Retirement Wealth Advisors (RWA), a Registered Investment Advisor. Wolf Retirement Navigation LLC and RWA are not affiliated. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. For some people, this might mean starting their holiday shopping now; and

safety net in the event of that worst-case scenario. 2. Are excessive fees eating away your accounts? We will dive deeper into the topic of excessive fees inside this issue, but the first step is to learn how much you are paying in management fees. Excessive fees can significantly reduce how much you keep and enjoy in retirement. Hundreds of thousands of dollars could go from your accounts into someone else’s pocket over the course of your retirement. Learn what your fees are and figure out how you can reduce them. 3. Have you planned for federal tax increases? The big story at the beginning of this year was how the new tax plan reduced federal taxes for many people. This is great news, but it’s probably not sustainable. Based on my research, the federal government will inevitably have to increase taxes to pay for our country’s bills. Seventy-five cents of every dollar in the $4 trillion budget goes towards paying Social Security, Medicare, Medicaid, and interest on the debt. The rest is borrowed. With 10 baby boomers retiring daily, this price tag will continue to increase. The government will have to increase taxes to pay for it. You need to be prepared for this.

This information is designed to provide general information on the subjects covered; it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Wolf Retirement Navigation LLC and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.

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A GUIDE TO PICKING A POST-CAREER HOBBY NEW AND REDISCOVERED PASSIONS IN LATER LIFE

Aside from financial

have fun doing.” Here are three questions to help you discover a hobby that’s right for you. Do you have a dormant passion? Work has a tendency to put our other interests on the back burner. Maybe you painted for pleasure during college but put the canvas away to focus on your career. Perhaps you were once a chess fanatic, and today you find your board gathering dust from lack of use. Now is the perfect time to rediscover those once- beloved activities. What have you always wanted to do? Discovering new hobbies is just as rewarding as rekindling old ones. Have you ever heard about a pastime and thought, “I’d love to do that, if only I had the time”? Former NFL quarterback Drew Bledsoe opened a winery after retiring from football. While you probably

don’t have the financial resources of a professional athlete, there’s nothing stopping you from pursuing a newfound passion at the same velocity as the footballs Bledsoe threw.

concerns, the No. 1

question that most impending and recent retirees struggle to answer is how

Is there a cause you want to support?

they will fill up all their time. While

Volunteer work can be incredibly fulfilling, especially when you have the time and energy to devote to it. Many older adults find that giving back to the community adds meaning and purpose to their lives. The best way to figure out how to donate your time is to think about a cause dear to your heart. From there, find a reputable organization that supports said cause, and see what you can do to help. Retirement is the perfect opportunity to throw yourself head-first into something you’re passionate about. So what are you waiting for?

spending time with family and relaxing are priorities for most folks entering the post-career chapter

of their lives, these aren’t enough to fill up the bulk of your newly acquired free

time. Cultivating a hobby is a great use of your time at any age, but especially during retirement. As Dick Van Dyke once said, “To me, retirement means doing what you

MARK YOUR CALENDARS!

New Days, Same Great Shows Adam’s finance shows on “River City Live” (Channel 4) and “First Coast Living” (NBC 12) are moving to new days! If you want to get Adam’s great retirement advice right in your own home, tune into “River City Live” on Tuesdays twice a month, or catch him on “First Coast Living” on Wednesday twice monthly.

Coming in October: Retirement Wealth Academy Are you prepared to not just adapt, but thrive in the changing retirement landscape? Adam Wolf can show you how! Make plans to attend the free Retirement Wealth Academy at the University of North Florida. Adam will cover new retirement techniques and the strategies you need to help prepare for a more successful retirement.

Here are the dates for this month’s shows: ‘River City Live’ Tuesday, Sept. 11 Tuesday, Sept. 25 11:00 a.m. to 12:00 p.m. ‘First Coast Living’ Wednesday, Sept. 5 Wednesday, Sept. 19 11:00 a.m. to 12:00 p.m.

One-Day Course Saturday, Oct. 6 10:00 a.m. to 1:00 p.m.

Two-Day Course Thursday, Oct. 4 and Thursday, Oct. 11 10:00 a.m. to 12:00 p.m., or 5:30 p.m. to 7:30 p.m.

Space is limited! RSVP today by calling 904-232-8760.

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TRUE SAVINGS

Are You Paying Too Much in Hidden Fees?

What’s the difference between a fair price and a hidden fee? To start, you typically know a fair price in advance and can decide whether or not the cost is worth what you’re getting. Meanwhile, most hidden fees make you want to pull out your hair. For example, you’re happy to pay the bill after a great dinner at an Italian restaurant, but if you look at the check and spot a “plate-sharing fee” because you and your spouse split an appetizer, you might have a few words for the manager.

Most people have no idea how much they are paying for their retirement accounts, let alone what they are paying for. This isn’t because people are willfully ignorant; it’s because they don’t know what questions to ask. Start by sitting down with your financial advisor and asking him or her to show you the total amount of your fees and what you are actually paying for. They legally have to disclose this information to you. Then, once you know what your accounts are costing you, do some homework. Go online and research exactly what it is you are paying for. Get a second opinion from another financial advisor, preferably a financial fiduciary who is focused on retirement and who will legally, ethically, and morally protect your interests. Ask if the service you are getting is worth the cost. Everyone’s financial situation is unique, and what works for some people may not work for others, but gathering information about your fees will help you make the right decision for your retirement future. Ready to take control of your retirement and get rid of unnecessary and/or excessive fees? Start by getting a Fee X-Ray from Wolf Retirement Navigation. Call 904-232-8760, and we’ll analyze your accounts, peeling back the layers to tell you exactly what you are paying each month. Get proactive and learn if these fees are worth the cost to your retirement plan.

Fees are everywhere, and retirement planning is no exception. In the

retirement world, 1.0% to 1.5% is a perfectly reasonable cost for managing an account. Unfortunately, an advisor might claim you are only paying 1.1%, but if you dig a little deeper, you may find a mess of hidden fees for other “perks” you never asked for. Turnover costs, marketing fees, and commissions are all common fees that can tack on an extra 1.2% to the overall price tag. Now you’re paying 2.3+% every year, which can add up to tens of thousands — perhaps hundreds of thousands — of dollars over the years taken from money earmarked for your retirement dreams and put into someone else’s pocket.

SUDOKU

INGREDIENTS

• 1 small loaf French bread, cut into 1-inch cubes (6 cups) • 3 tablespoons extra-virgin olive oil • 2 large tomatoes, cubed • 2 red bell peppers, seeded and cubed

• 1/2 red onion, thinly sliced • 1 cucumber, sliced into rounds • 20 basil leaves, chopped

• Salt, to taste • Vinaigrette

DIRECTIONS

1. Place a large sauté pan over medium-low heat and add olive oil. Add bread and 1 teaspoon salt, and toss often for 10 minutes or until toasted. 2. In a large bowl, mix vegetables and herbs. Toss in bread and your favorite vinaigrette and mix again. 3. Serve immediately or let sit 30 minutes to allow the flavors to meld together.

Answer on page 4

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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411

904-232-8760 www.wolfretirement.com 4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224

INSIDE

Solution to puzzle on page 3

• Holidays on the Horizon PAGE 1

• What Have You Always Wanted to Do? PAGE 2

• Important Events You Don’t Want to Miss PAGE 2

• The Real Cost of Hidden Fees PAGE 3

• Late-Summer Panzanella PAGE 3

• Have You Heard About Mauritius? PAGE 4

MARVELOUS MAURITIUS Have You Heard About Mauritius?

Tips forYourTripBack inTime

Just over 1,000 miles off the southeastern coast of Africa in the Indian Ocean lies the small island of Mauritius. The island is often overlooked by the rest of the world. Most people are more likely to have heard of the island’s most famous extinct occupant, the dodo bird, than the island itself. This is shocking when you discover how much fun there is to be had in this tropical wonderland. Adventure Awaits Looking for fun in the sun? Start your trip to Mauritius with a hike up the lush Lion Mountain, or take time to snap a photo of the Seven Coloured Earths, where volcanic soil has created sand dunes of seven distinct colors. And what’s a trip to an island without the beach? Beautiful coral reefs surround Mauritius, keeping sharks away from the pristine beaches. Island guests and locals can fearlessly

scuba dive around the brilliant reefs, swim with dolphins, kite surf, and find lots of other ways to enjoy the warm ocean waters. Walk Through History More than a tropical escape, Mauritius is an island full of history and culture, so there are plenty of opportunities to learn about the island’s layered past. You can visit one of the historical rummeries or explore Mauritius’ two UNESCO World Heritage Sites. You can also check out Aapravasi Ghat, the Immigration Depot, and Le Mourne Brabant. Taste the Memories A day spent playing on an island is always better with great food. Influenced by its French, Creole, Indian, and Chinese heritage, Mauritius offers a vast menu of delicious dishes to try, from curry to dim

sum. And the rich soil and bountiful ocean provide more than enough fresh fruit and seafood to go around. Despite its amazing vacation potential, Mauritius is all but unheard of to people in the United States. This means travelers can find amazing five-star resorts at unbeatable prices! With this in mind, isn’t it time you got to know the island of Mauritius?

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