F I N A N C I A L S E R V I C E S , L L C
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www.MattsonFinancial.com
November 2017
Counting Your Blessings Family, Friends, and Finances
Often during Thanksgiving and the holidays, and especially when we get together with family and friends, we look around at all we have. We count our blessings, give thanks, and recognize our good fortune in life. Whether it’s our family, our health, or our finances, there is always something to be thankful for. Recently, a client told us about a transaction they made. Our client purchased a used car from a private seller, someone they happened to be acquaintances with. As part of the transaction, it turned out the client paid over market value for the car. While it doesn’t necessarily make financial sense, our client had a different perspective. From their point of view, not only were they upgrading from their previous vehicle, they were helping out another person who was going through a period of financial stress. For our client, overpaying made sense. Our client was also feeling blessed at the time. Their investments and assets had done well, and they felt comfortable spending a little extra money on this particular vehicle. At a glance, you could say the client did a good deed, but it’s important to remember this one piece of advice: What the market giveth, the market taketh away. What do I mean by this? It all comes down to looking at the long-term effects of any loan or monetary assistance you give to family and friends, regardless of your financial situation. In the moment, a few thousand dollars may seem like a reasonable amount to loan, but long-term, that loan or expense can have a ripple effect. There is a good reason why so many financial advisors suggest that you avoid lending money to family and friends. Money makes people funny. A loan today is possibly a loss of a future friendship or family member.
More to that point, it’s not that you shouldn’t. Essentially, better advice would be to say, “If you can’t afford to give it, you can’t afford to lend it.” In other words, if you find yourself in a situation where you are considering loaning money to a family member or friend, think of it as a gift first and as a loan second. If you can’t afford to simply give away the loan amount, you need to rethink the loan. But it’s not just about whether or not you can afford it in that moment — it has to do with the future, as well. Think about your own expenses, as well as your investments. If you loan $4,000 to a family member today, will you need that $4,000 next month? It’s like retirement planning. Your 401(k) and other accounts may ensure income for several years to come, but once you start planning all of your future expenses — from general living
expenses to health care — your total income starts to sound a lot smaller.
In terms of giving a loan or financial gift, you need to examine how that decision will affect your future income. If you never see that money again, will it represent a loss of future income? Our client may have been doing well financially at that point in time, but down the road, the markets may be telling a different story. Their financial situation may be completely different. As you enjoy your time with family and friends this Thanksgiving, and as you count your blessings, be sure to keep one eye on the rearview mirror. What the market giveth, the market taketh away. –Gary Mattson
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The Life-Giving Benefits of Saunas SWEAT THE YEARS AWAY
Colder weather is hard on our bodies for many reasons. The air dries and cracks our skin, freezing temperatures cause old injuries to flare up and joints to ache, and the conditions make it just plain hard to exercise. What’s a fair-weather bird to do? Head to the sauna! If you haven’t already adopted the regimen, you are missing out. Sauna use has been popular in Finland for thousands of years, and there are compelling reasons why. Not only are there many bodily benefits, but science is telling us it may also protect the mind.
cardiovascular health. Traditional saunas use heat to get your blood flowing and promote circulation, and the sweating that goes on during a sauna experience is said to release toxins from your body. It’s a rejuvenating ritual that releases stress along with endorphins. Now, the health journal Age and Ageing has found evidence linking sauna use to a lowered risk for Alzheimer’s disease and dementia. Men aged 42–60 who participated in frequent sauna bathing sessions were found to have lowered rates of dementia and Alzheimer’s. If feeling good and warming you up weren’t enough, a healthy mind is a great reason to sauna.
And while the simplicity of the traditional sauna is part of what makes it great, some facilities have added a modern twist: infrared rays. Infrared saunas, already hot in NewYork City and Los Angeles, are starting to pop up everywhere. Especially if you have trouble dealing with the heat of a typical sauna (average sauna temperatures are kept around 212 degrees Fahrenheit), this latest trend is for you. The average temperature for an infrared sauna is 150 degrees Fahrenheit, making it a more tolerable experience. One NewYork studio boasts infrared’s ability to stimulate collagen production, an added anti-aging benefit. Need another bonus? Infrared saunas are said to release up to 20 percent more toxins from the body than traditional saunas.
We’ve known for a long time that saunas can help with blood circulation, stress relief, and
DON’T FALL VICTIM TO THESE FINANCIAL SCAMS
Counterfeit Prescription Drugs Most commonly, counterfeit drug scams operate on the internet. Those who fall victim to this scam find themselves paying money for a drug that does not help their medical condition, and some run the risk of unknowingly purchasing unsafe substances. This scam can be hard on the wallet and the body. Telemarketing and Phone Scams Fake telemarketing calls are one of the most common types of scams. With no face-to- face interaction and no paper trail, they are incredibly hard to trace and identify. Also, once a deal has been made, the buyer’s name is then shared with similar scammers looking for targets. Examples of telemarketing fraud include ... The pigeon drop: A con artist tells the victim that they have found a large sum of money and are willing to split it if the person makes a “good faith” payment.
Financial scams often go unreported and can be difficult to prosecute, so they’re considered a “low-risk” crime. However, they can still be devastating, leaving you in a vulnerable position with little time to recoup your losses. Here are some common scams and what you can do to avoid them. Medicare and Health Insurance Scams In these types of scams, perpetrators may pose as Medicare representatives in order to obtain personal information. Sometimes they will go so far as to provide bogus services at makeshift mobile clinics, then use your personal information to bill Medicare and pocket the money. To avoid this scam, know that a legitimate Medicare employee would never ask for your personal information over the phone or via email, since they already have it on file. If you suspect that Medicare is being charged for a service you didn’t request, call the federal government’s official Medicare hotline at 1-800-MEDICARE.
Fake identity ploy: The con artist gets the victim to wire or send money on the pretext that the victim’s relative is in the hospital and needs money. Charity scams: The con artist solicits the victim for money for fake charities. This often occurs after natural disasters. If you have fallen victim to a scam, notify the police, the Better Business Bureau (bbb.org/consumer-complaints), and the Federal Trade Commission (1-877-438-4338). Further, obtain the contact information for the Adult Protective Services organization in your area by calling the Eldercare Locator national hotline at 1-800-677-1116 or visiting eldercare.gov and filing a complaint. You are not alone; there are people who can help.
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THE TRUTH ABOUT TURMERIC
For thousands of years, turmeric has been a staple in curries as well as a spice renowned for its ability to treat a vast number of ailments.
When dried and powdered, the turmeric plant turns a distinctive sunny yellow. Native to Southeast Asia, in recent years turmeric has become a sort of “spice-of-all-trades.” Throughout North America, people are adding turmeric to various foods and using it to treat everything from arthritis to heartburn. Anecdotal evidence suggests that the spice can treat just about every kind of inflammation in the body, whether it’s joint pain or a headache. Have a stomachache or nausea? Try turmeric. Have a mild rash or burn on your skin? Try turmeric. There are even a number of current studies looking into the effectiveness of turmeric as a treatment option for those with diabetes and dementia. When one substance is purported to have near-magical healing powers, you have to remember to take it with an additional dose of skepticism. Can one spice really cure everything that ails you? Let’s ask science. Researchers have identified over 20 distinct compounds that work similar to NSAIDs (such as aspirin and ibuprofen). Of those compounds, six are COX-2 inhibitors. COX-2 is an enzyme that causes inflammation and pain in the body. In short, these six compounds help block the enzymatic reaction that triggers inflammation. One of these compounds is called curcumin, which is often considered the active ingredient in turmeric. An article published in the medical journal Nutrition and Cancer found that, by weight, pure turmeric powder contains 3.14 percent curcumin. However, clinical trials of curcumin have produced less-than- stellar results. A comprehensive review of 120 studies of curcumin, published in 2017 in the Journal of Medicinal Chemistry, found no evidence that the compound produced positive results as an anti- inflammatory or antioxidant. In fact, researchers found curcumin to be an, “unstable, reactive, non-bioavailable compound.”What does this mean for people who use turmeric for its medicinal properties? If it works for you, continue to use it. If you’ve thought about adding it to your diet, give it a try. It’s safe to use and studies have shown virtually no toxicity, even in high doses.
Whichever type of sauna you decide to visit, the potential health benefits speak for themselves. If you don’t get to escape to Miami or Cancun this winter (and even if you do), it’s a relaxing way to warmup and ease winter ailments. Treat your body and yourself to a sauna experience!
LAUREL’S ROASTED PARMESAN PESTO POTATOES
Ingredients
• • • •
2 pounds red potatoes, quartered
2 tablespoons basil pesto Salt and pepper, to taste
3 tablespoons grated fresh Parmesan cheese
Directions
1. Preheat oven to 400 F. 2. In large bowl, combine potatoes and pesto. Toss to coat. Transfer potatoes to large baking sheet or shallow roasting pan. Season with salt and pepper, to taste. Roast 20 minutes and remove from oven. 3. Sprinkle Parmesan cheese evenly over potatoes and put pan back in the oven. Roast for additional 10–15 minutes or until potatoes are tender and crispy. Remove from oven and serve warm.
Recipe courtesy of TwoPeasAndTheirPod.com.
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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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Family, Friends, and Finances Sweat the Years Away Don’t Fall Victim to These Financial Scams Roasted Parmesan Pesto Potatoes The Secrets of Turmeric
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Iconic Macy’s Thanksgiving Day Parade Balloons
**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.
Iconic Macy’s Thanksgiving Day Parade Balloons
Thanksgiving is a holiday full of traditions, from turkey and stuffing to football and naps. Since 1924, the Macy’s Parade has grown to become not only a Thanksgiving staple but also the world’s largest parade. Over 3.5 million people attended the parade last year, with another 20 million tuning in from home. The main attraction is always the massive character balloons, which first graced the skies in 1927. Over the decades, some of these balloons have become nearly as famous as the character they depict. Felix the Cat When the Felix the Cat balloon appeared in 1931, it set the standard for all characters to follow. Sadly, the original balloon got tangled in wires and caught on fire, so it has been lost to history. Felix’s influence on the parade is so immense, however, that when Macy’s brought him back in 2016 for the parade’s 90th anniversary, they recreated his original design. Without Felix’s influence, the parade might look a lot different today.
Snoopy When it comes to balloon characters, none is more famous than the classic “Peanuts” beagle. His first balloon floated through the sky in 1968, and he’s been a regular fixture ever since. Charles Schultz’s famous pooch holds the record for most variations in a parade (eight) and most total appearances (40). Though Snoopy doesn’t come out every year, he usually closes the show when he does. Pikachu The Pokémon mascot didn’t appear until 2001, but he’s become a star attraction, showing up every year since. Bright, expressive, and impossible to miss, Pikachu checks off all the boxes for a successful balloon character. For 16 years, those who predicted that Pokémon was just a fad have gotten a big, yellow reminder of just how wrong they were.
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