Campbell Wealth Management - May 2019

Campbell Wealth Management - May 2019

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CampbellWealth.com • (703) 535-5300 • 330 John Carlyle St., Suite 400, Alexandria, Virginia 22314

PUTTING LIFE INTO GREATER PERSPECTIVE

Early last month, I attended a conference in Denver where the organizers brought in Jesse Itzler as the keynote speaker. Jesse is the co-founder of Marquis Jet, a company he helped build

message is that you shouldn't live with regrets, and you shouldn't do things that lead to those regrets. Another part of his message centered on “living for today” and being present in your own life. People don’t realize just how short life really is. Jesse says he thinks about how many years he has left. At age 50, he considers that the average American male lives to 78, giving him about 28 years. This thought alone may not necessarily make a big impact on you, but when you start to put it into perspective, it can change the way you think — and the way you live. What do I mean by that? Don’t think about it in terms of years. You might instead say, “I have 28 more summers or 28 more Thanksgivings with my family.” This is something Jesse especially thinks about when he visits his parents. They’re aging, and Jesse reminds himself he may only have five more Thanksgivings with them. It’s not an easy thing to think about, but it really does put life into greater perspective. After hearing him speak, I’ve thought more about how much time I have left with my family. I think more about who I am, what I do, and what I can do to get the most out of that time. And while considering what Jesse said about living to 78, it occurred to me that I don’t want to live to just 78. I told my wife, Kim, I want Continued on Page 3 ...

from scratch only to sell it to Warren Buffett’s Berkshire Hathaway five years later. Jesse is also one of the owners of Zico Coconut Water and an owner of the NBA team the Atlanta Hawks. He is married to Sara Blakely, the founder of Spanx. Jesse brought a great message to his keynote speech. He spoke on taking risks and not looking back. A lot of people worry about what other people think of them. They worry about being embarrassed by what they say or do. To this, Jesse said, “How you do anything is how you do everything.”

One of his big life rules is to “remember tomorrow.” This means whatever you do today, think about how you’re going to feel about it tomorrow. What will the consequences of today’s actions be? If I eat a second helping of dessert, will I really be happy or will I feel guilty later? What will happen if I drink that second or third glass of wine with dinner? What will happen if I decide to skip out on a meeting this afternoon? Everything you do has consequences. Some are big, and some are very small. But too often, those consequences lead to feelings of regret when you think, “I shouldn’t have done that,” but you did. Part of Jesse’s

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Clubs: Not Just for High School

The Best Way to Stay Active in Retirement homeowners association. There are plenty of ways to engage with like- minded people while making a difference. Try Something New Don’t know where to start when looking for a group to join? Start online! Try searching “groups for retirees” and see what comes up. You might discover a travel group and start planning your trip to Asia. Or maybe you’ll have more fun mentoring young people in your professional field. Don’t be afraid to spend your retirement doing something new! There’s nothing wrong with enjoying your alone time, but don’t let your alone time turn into a lonely retirement. Joining a group can help you broaden your social circle, stay active, and maybe even learn something new about yourself.

Despite warnings and increased awareness, many phone scams are still going strong. One of the most well-known scams is the IRS scam. You get a call from someone claiming to be from the IRS, and they tell you that you owe money and if you don’t pay, they will have you arrested. These scammers use fear and uncertainty to coerce their victims. This is just one scenario that may play out, but the end goal is the same for every call:The scammer wants you to give them money. Sometimes they ask for a wire transfer or gift cards; iTunes gift cards, for example, are a popular choice among scammers. According to the Federal Trade Commission (FTC), consumers fell for phone scams to the tune of $488 million during 2018. So, the scammers’ tactics clearly seem to be paying off. The FTC also reports that people in their 60s are among those who have lost the most money to phone scams. In 2018, this age group lost $184 million. People ages 50–59 ranked second, with losses totaling $168 million. While it’s great not having your nose to the grindstone nine-to-five, leaving work also means leaving behind a lot of daily activities and social interaction. Eventually, having nothing but free time goes from relaxing to isolating, and that can be dangerous to your physical and mental health. When planning for retirement, it’s important to plan ways to stay active and engaged. Joining a new organization or club can be a huge benefit. Here are a few suggestions to help you stay active in retirement. Enjoy Your Hobbies Did you spend years dreaming about hitting the golf course every day? While it can be nice to spend some time alone on the green, consider joining a golfers club if you want to mix things up. Enjoy scrapbooking? Check for get-togethers at the craft shop. If you’ve always wanted to try pottery, look for a class at the rec center. It’s easy to find groups dedicated to just about any activity. Get Involved Think of the causes you’re passionate about and get involved! Animal shelters and soup kitchens are always looking for volunteer help. Book lovers of all ages can join their local Friends of Libraries chapter. To make a difference through politics, help with fundraisers or join an active campaign. If you want to stay closer to home, check out your local

PROTECT YOURSELF WHEN SCAMMERS CALL

Here are four tips to protect yourself if you get one of these fraudulent calls: 1. If you get a call from anyone claiming to be from the IRS, you can hang up right there. The IRS will never call you at home. Should the IRS legitimately need to contact you, they will do so throughmail. 2. If someone calls claiming to be from any government agency, such as the Social Security Administration, and asks for your Social Security number or other sensitive information, hang up. The SSA is another agency that will not cold-call you. They will reach out via mail first. 3. Any time you’re asked to send money via wire transfer or gift card, you know it’s fraudulent. No legitimate source, whether it’s a government agency or a business, will call you asking for money out of the blue. Scammers love gift cards because they are largely untraceable, and once the money is gone, it’s gone for good. 4. Finally, stay rational over the phone. Scare tactics are remarkably effective, and scammers prey on this fact. The second anyone attempts to use scare tactics —such as threats of jail time or lawsuits—hang up.

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Leaving a Legacy of Giving

MAKING CHARITY A PART OF YOUR ESTATE PLAN

Your estate plan is far more than just a set of documents. It’s a declaration of what you find most important and a roadmap of the legacy you’d like to leave. Not only does a proper estate plan ensure that your loved ones will be taken care of when you’re gone, but it also allows you

organization about what you are planning to give. Smaller philanthropies may not accept complex assets, such as stocks or real estate. On the other hand, some charities may specialize in specific assets. For example, if your home is considered a historic site within your town, you may want to gift it to a preservation society so that it stays properly maintained. DECIDE HOWTOGIVE There are different ways to structure a charitable bequest, giving you the flexibility to make sure your estate planning goals are met. If you have a set sum of money or a particular asset you wish to leave to a charity, you can make a specific bequest in your will. However, if you want to ensure your loved one’s needs are met before giving a portion of your estate to charity, you can make what’s known as a residuary gift. With a residuary gift, once debts have been paid off and your other beneficiaries have received their bequests, a specified percentage of your remaining estate will go to a charity of your choice. OTHER AVENUES Depending on your income level and the kinds of assets in your estate, more complex means of making a planned gift may be available to you. Talk to your estate planner to see if creating a charitable trust or establishing a foundation is the right move for you.

to make an impact on the wider world through charitable giving. Many avenues exist for making planned gifts to nonprofits, but here are some of the basics on how to make giving a part of your plan. NAME A CHARITY IN YOURWILL The most basic way to give to a charity is by naming it in your will. Simply name the charitable organization you wish to support among your beneficiaries, and specify the assets you wish to give. If estate or income taxes are a concern, ensure your chosen organization is a 501(c)(3) nonprofit. These are the charities the IRS deems tax-exempt. MATCHTHE ASSETS TO THE CHARITY Almost all charities will accept cash bequests, though it is always a good idea to notify an

Upcoming Events

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Taxes in Retirement Madison Community Center Wednesday, May 15 at 6:30 p.m. Smart Women, Smart Retirement

to live to 126. It’s about thinking what I can do to achieve that. I have to eat better, exercise, and take steps to live to the number I’ve set for myself. My challenge to you is to think about how many years you have left with your family. Think about those Thanksgivings or summer vacations. How might it make you think or act differently? If you want to chat about it, give us a call. We can help you figure out what it takes to live to your number, whether it’s 90, 100, or 126. It may be as simple as sketching out the future you want, or it may be about incorporating your ideal age into your financial plan. Consider it, and let us know your thoughts and how we can be a part of a better, brighter future. We are always working toward helping our clients live the ultimate retirement.

Fairlington Community Center Wednesday, May 15 at 1:30 p.m. Thursday, May 23 at 6:30 p.m. Income Planning Reston Community Center Tuesday, May 21 at 1:30 p.m. Wednesday, May 22 at 6:30 p.m.

Kelly Campbell

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CampbellWealth.com (703) 535-5300 330 John Carlyle St., Suite 400 Alexandria, Virginia 22314

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Do You ‘Remember Tomorrow?’ Which Club Is Right for You? The Phone Scams Continue Making Charity a Part of Your Estate Plan Upcoming Events How to Travel Sustainably

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Go Green GET OUT THERE WITH THESE ECO-TOURISM TIPS Securities offered only by duly registered individuals through Madison Avenue Securities, LLC (MAS), member FINRA/SIPC. Advisory services offered only by duly registered individuals through Campbell Wealth Management, LLC (CWM), a Registered Investment Advisor. MAS and CWM are not affiliated entities.

Vacations can come with great expense, and not just for your bank account. According to a 2018 study published inNature Climate Change, travel accounts for 8 percent of global greenhouse gas emissions. Cut through the greenwashing and do your part to lessen these emissions by traveling sustainably. Travel Green When possible, trains, hybrid buses, and carpooling are great alternatives to larger, more environmentally intrusive

woodsy cabins, and even entire countries have opted to make eco- tourism easier. If you’re looking for a region of the world committed to preserving nature, look no further than Iceland, Finland, and Sweden, which are ranked the three most environmentally friendly places in the world. Do Green Man-made attractions like the Egyptian pyramids and Machu Picchu are some of the world’s greatest wonders, but Earth itself is pretty

travel methods. Large cruise liners are detrimental to oceans, and airplanes emit large amounts of toxins into the air. However, you can cruise and fly with the earth inmind. Some cruise lines are working to reduce their impact by installing more eco-friendly lighting and materials, and flight experts recommend using “green” airports, choosing fuel-efficient airlines, staying longer, and traveling less. If anything, it’s an excuse to extend your European vacation! Stay Green Where you stay impacts the environment as much as how you get there. Hotels use copious amounts of

breathtaking. Check out natural attractions while hiking or camping in preserved forests, or soak up all the Caribbean has to offer by snorkeling, scuba diving, sailing, kayaking, canoeing, and paddleboarding. When you’re mindful of your surroundings and remain

unobtrusive, there are endless outdoor activities you can explore. Some locations even partner with environmentally conscious organizations you can donate to or volunteer with. Opt for a green vacation and know that while you relax, the earth is getting a little relief too.

water for bathing and laundry, and they struggle to reduce energy because guests leave their lights and televisions on. However, many luxury resorts,

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