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4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224
4711 US Highway 17, Suite C-5 Fleming Island, FL 32003
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March 2019
Ride of Your Life Do You Still Rely on Luck?
I n the month of March, I find myself thinking about luck. There’s St. Patrick’s Day, and everyone talks about four-leaf clovers and the “luck of the Irish.” My mom’s birthday is also in March (Happy Birthday, Mom!) — and I am lucky to have her in my life. But the biggest reason I think about luck in March is because St. Paul’s Annual Carnival is held on the Jacksonville Beach. My family attends the carnival and it’s always a lot of fun. Multiple city blocks are closed off for rides, games, food and fun. And who can say “no” to fried carnival foods? Nowhere is luck more prevalent than when you’re walking down the midway at a carnival. Hundreds of kids and parents are trying their best to snag those top prizes, and
There’s not a lot of security when you rely on luck to accomplish your goals. “
planned for the worst-case scenarios. They balanced risk and reward, looked for safety nets, and strategized their portfolios to survive a hit. The planners are those who made it through the Great Recession successfully. There’s not a lot of security when you rely on luck to accomplish your goals. Even people who are “lucky” know luck is fickle. It isn’t always on your side, so why rely on luck to deliver your dream retirement? When it comes to investing and retirement planning, it literally pays to be smart. The best thing you can do for your future is to be prepared. Don’t rely on what the market did last year to guide you into next year. Be proactive about your plan. Look at your goals and ask what you need to do to reach them. I love talking about this stuff, so feel free to ask me any questions you have about your portfolio or retirement plans. Your retirement is worth more than a cheap stuffed animal won at the carnival. It’s time to get serious about your future and save luck for the midway. -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.
no matter how skilled you are at darts, it’s usually luck that determines the winners at the carnival. This is completely opposite to how things work in life, especially when it comes to planning for and being successful in your retirement. It’s easy to blame bad luck when the market turns or look at those who are better off and think, “Well, they just got lucky.” But good fortune isn’t the whole story. Luck, good or bad, is what we call it when we don’t plan for the future. Retirement planning is a great example of this concept. In 2008, when the stock markets crashed and many people lost significant savings, many called it bad luck. But what about those who made it through just fine? They didn’t just happen to invest in different areas that were unaffected by the stock and bond markets. These are the people who professional before making any investment decision. 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.
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
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AN ONLINE AUCTION FOR A GOOD CAUSE How You Can Support TBI Survivors in Our Community
Bidding for Traumatic Brain Injury Survivors Presented by The Tony Meduri TBI Fund Inc. WHEN: Thursday, March 28, 2019 WHERE: Online auction. Place bids at Bit.ly/TBIFundAuction.
TBI Fund Inc. aims to ease the burden and build a community that supports TBI survivors. “Our main goal is to create a long-term care facility,” Anne Marie told us when discussing the future of The TBI Fund Inc. “Many TBI survivors are roommates, barely living off disability income. Their medical needs are financially exhausting; it only adds to their struggles. We want to give people a place to live comfortably. Right now, I want to build the fund so we’re able to grow and do more good.” Tony Meduri passed away on March 17, 2018. Anne Marie is continuing her work with The Tony Meduri TBI Fund Inc., and this auction serves to raise funding and to remember and honor Tony’s legacy. We encourage you to join this great cause and check out the auction at Bit.ly/ TBIFundAuction . Another way you can support The TBI Fund Inc. is by purchasing a reusable tote bag from Winn-Dixie during Brain Injury Awareness Month. TBI Fund Inc. has been chosen for the Community Bag Program. For every bag purchased between February 20 and March 31, 2019, The TBI Fund Inc. receives a $1 donation. Stop by Winn-Dixie, located at 12777 Atlantic Blvd. in Jacksonville, Florida, to grab a bag and support the cause. There are many more events lined up for this year. Visit TBIFundInc.com to stay up to date on the latest news and to look for opportunities to support TBI survivors in our community.
of our community can visit the auction at any time during the day, beginning at 7:00 a.m. to bid on some amazing items. A few items include:
I n 2011, retired police officer Tony Meduri was heading to a car show in his prized ‘34 Ford. While stopped at a red light, he was hit from behind by a drunk driver. The devastating accident left Tony in a coma for weeks. When he woke up, the doctors informed his family that Tony had suffered from a traumatic brain injury (TBI). It changed his life forever. Unfortunately, Tony’s tragic story is not unique. In Florida alone, 214,000 people are living with a brain injury, and 136,000 suffer from brain injuries every year. March is Brain Injury Awareness Month, a time to recognize this devastating reality and to look for ways to support TBI survivors in our community. For the last five years, Wolf Retirement Navigation has been a proud sponsor of The Tony Meduri TBI Fund Inc., a nonprofit founded by Tony’s daughter, Anne Marie Tucker. After witnessing firsthand the struggles TBI survivors face, Anne Marie started this wonderful organization to improve the lives of TBI survivors through awareness, financial aid, programs, and community events. One of these events is Tony’s Turkey Trot, a 5K run held on Thanksgiving every year. This year, the TBI Fund Inc. has plans for even more events, starting with Bidding for Traumatic Brain Injury Survivors, an online auction scheduled for Thursday, March 28, 2019. Members
• A 1-year family membership to the First Coast Family Brooks YMCA
• 12 months of free ice cream from Marble Slab Creamery
• Round of golf at Queen’s Harbor Golf and Yacht Club
• Financial/tax service package provided by Wolf Retirement Navigation
All proceeds from the auction go to Brooks Brain Injury Clubhouse and Rehabilitation, located in Jacksonville, Florida, the only acquired brain injury clubhouse in the state of Florida. This full-time day program helps care for TBI survivors, offering opportunities for social interaction, physical activity, and rehabilitation. Over the last two years, the TBI Fund Inc. has funded eight scholarships for TBI survivors to attend the clubhouse. With a TBI, life can change in an instant. The most common cause of a TBI is a fall, which puts older adults at the greatest risk. Sports injuries are also a common cause of TBIs and most readily impact children in youth sports. The challenges of overcoming a TBI are many, and they last a lifetime. Getting the necessary care for a TBI is expensive, and insurance doesn’t cover the long-term needs for TBI survivors. The
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Retirement and Tax Season
What You Don’t Know Can Hurt You
Investment Gains Just like during your working years, any gains you make on investments outside an IRA or a 401(k) will be subject to tax. In addition to being aware of what money is being taxed, retirees should be informed that since the Tax Cuts and Jobs Act went into effect for the 2018 tax year, there have been numerous changes to the tax code. For the most part, these changes mean most taxpayers in Florida will pay less in taxes after filing their 2018 returns. However, it’s important to keep in mind that the income ranges for the seven tax brackets have been adjusted for inflation, the personal exemption was eliminated, and the standard deduction for married couples filing a joint return jumped from $12,700 in 2017 to $24,000 in 2018. Also, if you are age 65 or older, depending upon your filing status, you get an additional $1,300 to $1,600 applied to your standard deduction. Depending on your situation, these changes could affect your tax plans during retirement. Though taxes can be complicated and frustrating, it’s important for everyone, especially retirees, to understand what’s going on with their money. Call 904-232-8760 today to learn how to protect your retirement and survive tax season.
Federal income taxes are most retirees’ largest expense in retirement. The Nationwide Retirement Institute found that 70 percent of recent retirees entered retirement without key tax-planning knowledge. For example, many retirees don’t realize that up to 85 percent of their Social Security benefits can be included as taxable income, depending on their modified adjusted gross income (MAGI). This can lead to some pretty unpleasant surprises come tax time.
In order to avoid such surprises, retirees should make note of what income is being taxed during retirement. Retirement Plan Withdrawals Withdrawals you take from your tax-deferred qualified retirement plans will be included as income and taxed accordingly. Those plans include traditional or rollover IRAs, 401(k)s, 403(b)s, and other tax-deferred employer plans. The amount of tax you pay on these distributions depends on your current year tax bracket. Taking very large withdrawals can easily push you into a higher bracket. Also, if your company offers you a “lump-sum” pension option, you are eligible to roll over the pension into an IRA and control distributions. Talk to us to determine if and how you might be able to avoid taxes on your pension.
SUDOKU
INGREDIENTS
• 12 whole juniper berries • 2 bay leaves, crumbled • 1/2 teaspoon ground ginger • 2 pounds ice • 1 5-pound beef brisket, trimmed • 1 small onion, quartered • 1 large carrot, coarsely chopped • 1 stalk celery, coarsely chopped make sure brisket is fully submerged and brine is stirred. 4. After 10 days, remove brisket from brine and rinse under cool water. In a large pot, cover brisket, onion, carrot, and celery with water. Bring to a boil, then reduce heat to low and gently simmer for 2 1/2–3 hours. 5. Remove, slice across the grain, and serve.
• 2 quarts water • 1 cup kosher salt • 1/2 cup brown sugar • 2 tablespoons saltpeter (potassium nitrate) • 1 cinnamon stick, broken into large pieces • 1 teaspoon mustard seeds • 1 teaspoon whole black peppercorns • 8 cloves garlic • 8 whole allspice berries 1. In a large stockpot, combine water, garlic, and all herbs and spices to make brine. Cook over high heat until salt and sugar are fully dissolved. Remove from heat and stir in ice. 2. Once water temp reaches 45 F, place brisket in a 2-gallon zip-close bag, pour in brine to cover, lay flat in a large container, and store in fridge. 3. Brine for 10 days, checking daily to DIRECTIONS
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
• Waiting on Luck to Fund Your Retirement? PAGE 1 • Will You Help Us Make a Difference? PAGE 2 • Will Tax Season Rain on Your Retirement? PAGE 3
• Homemade Corned Beef PAGE 3
• How to Make Your Sailing Dreams Come True PAGE 4
Set Sail for Vacation Take Your Next Trip Offshore
Tips forYourTripBack inTime
shops. If you want to make it a family experience, shops usually have 16-foot catamarans for rent as well. Catamarans have two hulls rather than one, making for a smoother, more spacious ride. If you’ve never sailed before, inquire about lessons. Most rental operations have instructors on hand who can show you the ropes. The great thing about sailing is that whether you’re in a 12-foot dinghy or
permit. If you’ve captained a boat and are familiar with the waters, you can apply for a bareboat charter. However, if you are inexperienced or simply don’t want a local guide at the helm, signing up for a day trip with a skipper and crew is a great option. DO A FULL CHARTER Short of owning your own vessel, chartering a boat for multiple nights is the closest you can get to living out your nautical dreams. Some of the most beautiful destinations on earth — from the Caribbean Sea to the Mediterranean — are best experienced from the deck of a sailboat. Letting the sea guide you to amazing snorkeling destinations, remote cays, and bustling harbors is the stuff of real adventure.
If you’re lucky enough to have been aboard a ship under full sail, chances are you know the thrill and serenity sailing can give you. If you’ve never been but have always wanted to know what it’s like to get out on the wind and waves, there are many great options available for beginners. Here are some ideas to inspire your next waterside vacation. START SMALL
a 60-foot sloop, the same basic principles, rules, and skills apply. TAKE A DAY SAIL Many day-sail charters exist for those who want to go out a little farther than a dinghy would
For those who dream of becoming a skipper one day, a great way to start is by sailing dinghies. These one-sail, beach-launch boats fit 1–2 people and can be rented at most water sports
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