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F I N A N C I A L S E R V I C E S , L L C
616-514-3831
www.MattsonFinancial.com
November 2019
ONE OF THE MOST COMMON DISASTERS Faced by Retirees Today
You’ve turned in your notice, you have your last workday scheduled, and you’re set up to move your assets to a new advisor. The new advisor has assured you that your portfolio will perform, and you will not run out of money later in life. All set, right?
Wrong! You may have just accidentally set yourself up for disaster — you won’t be able to provide to your loved ones.
If you are one of the retirees who has hard-earned retirement assets of over a million dollars in your retirement account, these funds should be diversified to last you and your spouse through the good and bad times of the market. But, if you have the majority of the retirement assets in your IRA and your spouse has not been able to save as much as you, what happens if you need long-term care? Statistics show that one in two people who are 65 or over will use long- term care services sometime during their life. If it’s you with all these retirement dollars but now you have to spend them for your care, what’s left for your spouse? Nothing , especially if you live a relatively long time in care. Just seven years in acute care would wipe out most million- dollar retirement savings. What do you do? Your retirement is supposed to be yours and your spouse’s retirement. But this is only true in death. In death, your beneficiaries have access to all of your remaining retirement assets. However, if you are in long-term care and trying to pay for both a spouse’s lifestyle and acute care for yourself, you will strain your retirement beyond repair. But there is a solution. Look at a“second-to-die”permanent life insurance policy that has a rider that can be added for long-term care benefits. A second-to-die policy means that when the first person passes, no death benefit is paid. The added rider for long-term care will still be there for the remaining spouse. If you need long-term care, the burden to pay for that care is diverted from your retirement assets and placed on the shoulders of the insurance company. These types of policies are more affordable than you may think and are readily available in most states.
Generally, since this is a permanent life policy, the rates or premiums you pay will never rise. If you or your spouse, or even both of you, need long- term care, the benefits are paid for one or both of you. You can also tailor riders to make sure you never lose benefits and that it pays out for both of you for in-home, assisted living, and even acute care. The next question is this: What’s affordable? This is different for every plan. My best advice is to never go over 1% of your withdrawal rate to pay for long-term care coverage. If you are taking out 3%–3.5% from your total retirement accounts value for income, adding 1% more should be okay. If the premium is over 1%, this is too costly and may damage your portfolio for future income needs. We all know unexpected expenses or items come up at the most inopportune times. Making sure you have an insurance policy that is right for you means it has to be in force when you need it. Even a modest monthly income for long-term care is much better than no assistance at all. And in the end, if you don’t use the long-term care benefits, your heirs will have the death benefit tax-free!
Now go and enjoy your retirement, you both have earned it.
–Gary Mattson
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Tea Time
WHAT’S SWIRLING AROUND IN YOUR CUP?
Your Brain
Tea has been consumed for thousands of years and is the second-most popular drink in the world, with water being the first. It is the national drink of several nations, including China and India, and is an integral component of religious ceremonies the world over. Drinking tea has been known to reduce stress, promote relaxation, and improve sleep. In addition to these instant benefits, tea can also help improve a person’s long-term health through regular consumption. Your Heart According to Harvard Health Institute, several studies show that those who regularly drink black and green tea are at a lower risk of developing cardiovascular disease. These types of tea contain antioxidants and flavonoids, which are plant chemicals that help dilate arteries and reduce bad cholesterol. Studies also link tea consumption with improved vascular reactivity — how well your blood vessels respond to stress.
Flavonoids don’t only fight heart disease; these chemicals can also reduce any vascular damage to the brain. The National University of Singapore has conducted studies that link reduced risks of dementia in the elderly with regular tea consumption. The results speak for themselves:“The longitudinal study involving 957 Chinese seniors aged 55 years or older has found that regular consumption of tea lowers the risk of cognitive decline in the elderly by 50%, while APOE e4 gene carriers who are genetically at risk of developing Alzheimer’s disease may experience a reduction in cognitive impairment risk by as much as 86%.” Your Mood Tea leaves contain the amino acid L-theanine, which stimulates several feel-good neurotransmitters, like serotonin and gamma-Aminobutyric acid (GABA). These neurotransmitters help boost your mood and
‘BUSINESS LESSONS FROM A RADICAL INDUSTRIALIST’
How to Get Rich Without Hurting the Planet
In 2009, Interface created and sold over 83 million square yards of carpet without negatively impacting the planet or losing revenue. Anderson chronicles his journey from point A to point B in his book, “Business Lessons from a Radical Industrialist.” According to Inc. magazine, Anderson, who passed away in 2011, was considered “the greenest CEO in America.” His company mastered sustainable innovation, and its patents, products, and processes are revealed in his book, which is as much a guide for entrepreneurs of the future as it is for those of the present. One reader on Amazon reviewed the book as “Inspiring,” writing, “If only the world had more Ray Andersons. The fact that he turned a company reliant on the use of petrochemicals for the production of its core product into [a company] with sustainability as its core ideology and was able to improve his profits is outstanding. Any and every company can learn something from this book.” If you’re trying to lessen your business’s impact on the planet and tap into a market of environmentally conscious consumers, “Business Lessons from a Radical Industrialist” is the place to start.
As awareness about the global impact of climate change rises, consumers have started to vote with their dollars for companies that offer greener, more sustainable products and practices. Slowly, that groundswell has caused businesses to shift their priorities and take steps to track and reduce their environmental impact. But long before the green movement began in earnest, there was Ray Anderson — one man who decided to flip the script. In 1994, Anderson was 60 years old, the CEO of the modular carpet company Interface, Inc., and no more environmentally aware than his contemporaries. But when his customers started asking about the environmental impact of his carpets, he dropped into the rabbit hole of environmental research and emerged a changed man. He had a new goal for his $1 billion company: It would take nothing from the earth that the planet couldn’t replace.
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Dec. 7 Client Appreciation Movie Event Mattson Financial Upcoming Events MARK YOUR CALENDAR!
alertness. According to a study by the Huazhong University of Science and Technology in China, tea even has the ability to ward off depression. The study took 22,817 participants with 4,743 cases of depression over 11 studies, and 13 reports found that individuals who drank three cups of tea a day decreased their depression risk by 37%.
11:00 a.m. at Celebration! Cinema South 1506 Eastport Dr., Grand Rapids, MI 49508
For this year’s annual client movie event, we are excited to announce we will be seeing “A Beautiful Day in the Neighborhood,”where Tom Hanks stars as Mr. Rogers.
So, the next time you want a warm beverage that will do your mind and body good, reach for some tea and bask in all the health benefits as you sip.
Don’t forget to call our office to reserve your spot!
RSVP to 616-514-3831
BURNISHED POTATO NUGGETS LAUREL’S FAVORITE
You must be 18 or older to attend.
Jan. 3 NO First Friday Event
Inspired by Bon Appétit
There are countless ways to prepare potatoes, but not all are created equal. For irresistibly crunchy outsides and deliciously creamy insides, try this recipe. The result is sure to be the star side at your Thanksgiving table.
Ingredients
• • •
8 cloves garlic, crushed 2 sprigs rosemary Kosher salt, to taste
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5 lbs russet potatoes, peeled and cut into 2-inch pieces 1/2 cup extra-virgin olive oil
• •
1/4 cup vegetable oil
Directions
1. Heat oven to 425 F. 2. In a large pot, pour water over potatoes to cover by 2 inches. Salt water and bring to a boil over medium-high heat. Reduce heat and simmer gently for 10 minutes. 3. Thoroughly drain potatoes and let stand for 10 minutes. Toss gently and season with salt. 4. Meanwhile, combine both oils in a large pan and heat in oven for 10 minutes. 5. Remove pan from oven and add potatoes, turning to coat thoroughly. Return to oven and cook for 30 minutes, turning every 10. 6. Toss in garlic and rosemary and finish cooking for 8–10 minutes. 7. Drain and serve.
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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
106.9 FM and 1300 AM Saturdays from 7 – 8 a.m. Sundays from 11 a.m. — 12 p.m.
F I N A N C I A L S E R V I C E S , L L C
3226 28th Street SE Kentwood, MI 49512 INSIDE THIS ISSUE
SPECIAL NOTICE to clients who are 70 1/2 or older: We are sending you a friendly reminder that you MUST take your required minimum distributions (RMDs) prior to year-end on Tuesday, Dec. 31, 2019. If you have any questions about your RMDs, please contact our office via email or phone as our team is here to assist you.
Retirees are Facing This Major Disaster
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Spilling the Tea on Tea Is Going Green Good Business?
Burnished Potato Nuggets Mark Your Calendar!
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Stay in a Real Castle
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**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 Advisor 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.
Every year, tourists flock to Disney’s “Magic Kingdom” and marvel at Cinderella’s iconic castle. As fun as it is to see this Florida-based attraction, it would be even more magical to step back in time and visit a real medieval citadel. What if you could walk the same ramparts as Roman legionnaires and climb the same towers as French kings? If this idea gives you goosebumps, pack your bags for Carcassonne, France. A four-hour train ride from Paris, towering above the rolling vineyards of southern France, you’ll find one of the most intact, accessible castles in Europe. With sweeping, concentric walls and 53 elegant towers, the Cité de Carcassonne is a breathtaking sight. Once an impenetrable border fortress between the kingdoms of France and Aragon, the gates now stand open to anyone curious enough to walk its cobblestone streets. In fact, you can stay in the ancient city yourself. The five-star Hotel de la Cité Carcassonne occupies a former bishop’s palace and overlooks the inner ramparts of the fortress. With medieval tapestries and gorgeous woodwork in the hotel’s interior, you’ll feel like you’re living among French royalty. Of course, if you’d prefer lodging with the commoners, plenty of quaint bed-and-breakfasts exist just across the Aude river. Carcassonne THE REAL MAGIC KINGDOM
With rustic cafes, fresh crepes, and bustling crowds making their way down the twisting cobblestone streets, the surface-level experience of Carcassonne would be enticing to anyone wanting to explore the French countryside. But for those who want to delve into the history of this storied castle, grand narratives await you. Just walking the walls of Carcassonne paints a picture of the past. While the outer fortifications were built by Louis IX and Phillip III, a section of the inner wall is far older. The red brick used in this part of the construction dates back to before the existence of France itself. Roman troops first fortified the hillside town around 100 BCE, giving every stone of this site a story to tell.
If you’ve ever dreamed of experiencing medieval life for yourself, your adventure awaits in Carcassonne.
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