Mattson Financial Services - August 2022

Mattson Financial Services - August 2022

FINANCIAL SERVICES, LLC

616-514-3831

www.MattsonFinancial.com

AUGUST 2022

ASK YOUR PHARMACIST FOR AN EXTRA PILL BOTTLE AND THOUGHTS ON THE RECENT BEAR MARKET

My stepfather recently called to report that my mother had fallen. She had hit her head and was bleeding. She is 98 years old and lives independently with my stepfather. Fortunately, she moved from Florida two years ago to Michigan to be near family, so I was only five minutes away. When I arrived, she was bleeding and very shaken. Though she needed some bandages and some ice packs, stitches were unnecessary. I relied on my emergency medical training from college. So thankfully, she is fine. But what if she wasn’t? And worse, what if I hadn’t been there? Being new to the area, they were not sure what hospital to go to or what the area offered for these unexpected but probable future emergency needs. After this experience, I suggest that every one of you write out an emergency plan of action. It should start with, “My name is Gary Mattson, my wife is Nancy, and our address is … our closest cross streets are ...” Write this out utilizing complete sentences and include your full name, (the person needing help) date of birth, current medications, past surgeries or implants, and full medical history. Then, ask your pharmacist for a large pill bottle with your name on it. Fold the statement, put it inside, and store it in the refrigerator where you’ll see it often and is easy to get to. Finally, tell family and friends about the statement so they’ll also know to look for it in a medical emergency. A few years ago, Nancy, my wife, had a heart episode and requested an ambulance. I was already on my way home, and I got there before the ambulance did because I knew our house was at the very end of the street. So include the nearest cross streets. You might find all this unnecessary, especially if you’re a calm person who reacts well under pressure as I usually am. But you never know what state of mind you might be in during a crisis. And while people who know me will tell you I’m never at a loss for words, I’ve learned that even I can find myself overwhelmed in an emotional moment. For our 25th wedding anniversary, Nancy and I went on a cruise with family and friends and planned, at my prompting, to renew our vows. During the ceremony, Nancy

read beautiful memories referring to index cards she’d neatly printed on. It was a wonderful and touching testament to our relationship. I wasn’t so prepared. I’d convinced myself that I’d remember what I wanted to say when the moment arrived. Instead, I got so choked up at Nancy’s words that I forgot everything I’d prepared in my “mind” to say. There was so much I wanted to share with her and our loved ones — but all I could choke out through tears of joy was, “I love you!” Sure, that covers it, but I wish I had my wits about me to say more and what she has meant to me over those 25 years. Trust me — you don’t want to have a mental lapse when it matters most. Get that pill bottle, write everything legibly, and keep it in the event of an emergency. Also update it at least semiannually, plus every time your medication or medical history changes. It will save you precious minutes and possibly you or your spouse’s life.

Speaking of your future, I also want to take some time to address the bear market we entered in June. Bear markets reflect a period where the

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SOMETHING’S PHI 4 Common Financial Scams to Avoid

Fraudulent Retailers On social media websites, you may have noticed suspicious online stores featuring deals that are too good to be true. At checkout, instead of being directed to a trusted third-party payment process, these merchants may ask for wire transfers or gift cards. Some of these online stores might not even provide contact information! Fake Debt Collectors Criminals will claim to be government representatives and urge you to settle a debt putting you at risk of being arrested, losing your home, or forfeiting your Social Security benefits. These scammers will ask you to pay the fake balance upfront to avoid any serious repercussions. Remember, government entities do not cold call, so you know to hang up or hit “delete.”

From dating swindles to Bitcoin and cryptocurrency hoaxes, it’s hard to tell the difference between honest offers and scams. Even worse, scams are becoming more creative every day. Here’s a list of some of the most common financial scams to be aware of. Cryptocurrency Scams Bitcoin and other cryptocurrencies have taken the world by storm. Because many don’t understand how they operate, it’s easy for cybercriminals to pull a fast one — or attempt to, anyway. To trick unsuspecting victims, scammers set up fake websites that mimic legitimate cryptocurrency platforms. These sites then either urge you to make investments or they will steal your information outright.

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market has dropped at least 20% from its most recent peak. Bear markets make people very concerned about their money and future income, so you might like updates of what we have been doing during the recent turbulence. Our first priority is ensuring you maintain your current income. We set up an income account for each of our clients to provide for their “Critical Income Need,” and we then refill this account from positions where there are still gains or minimum losses, even though stocks and bonds may be down. We diversify all of our portfolios, so we look at investments not currently experiencing a loss, whether it’s an annuity position or non-correlated assets like gold or real estate. This is where we want to be able to refill your income bucket from, as needed, during these drops in the market. The second action we take is to minimize losses. The markets are down more than 20%, but most of our firm’s overall portfolios have not seen losses approaching that number. It’s because we not only diversify the assets we hold in each portfolio, but we also diversify our investment strategies for investing in those assets. So we get diversified assets and diversified strategies. This gives you choices and opportunities as an investor. Next, we’ll take steps to reposition assets to take advantage of the current market downturns. As I write this, some NASDAQ stocks are down 30% or more. Other assets are down as well throughout multiple indexes. We determine which of those stocks still have value and invest in those risk areas. They will likely recover sooner and give us

a shorter recovery time and when they get back to their highest point, your portfolio has gains, instead of getting back to even. We want your portfolio to return to profit and better standing returns after the market recovers. Finally — and perhaps most difficult of all — we remain patient. Staying with your plan and being patient is one of the most important things you can do when you’re experiencing a bear market. Investing is a long-term prospect, and results don’t happen overnight. Further, rash decisions can lock in losses and worsen your overall financial outlook. Lincoln Financial recently released a notation sharing something important! By investing in the market when it is down 20% or more, those that are patient have an average cumulative return of 61% in five years and 85% in seven years. Of course, we don’t want to wait 5-7 years — that’s why we’re reallocating your assets now to take advantage of the market and get you to even sooner and higher returns after that. But this process takes time which requires being patient and prepared. As always, feel free to call us with any questions or concerns. We’ll be glad to discuss your specific situation in more detail as you wish. At Mattson Financial Services, we have two top concerns: getting you the income flow you need to enjoy retirement and taking advantage of the markets when they are presented.

So, sit back and relax as we get you through all of this noise. I like the Bible verse that says, “This, too, shall pass.”

–Gary Mattson

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ISHY

Upcoming Events Visit MattsonFinancial.com for more info!

Work-From-Home Scams As working from home has recently become the norm for many, this

hoax has become even easier for criminals to pull off. Cybercriminals will contact you, stating you can make hundreds of dollars a week doing nothing more than shopping online as a mystery shopper or another enticing task. They will then tell you that to get started, you’ll need to pay upfront for training materials — but once you do, you’ll never hear from them again. As a general rule of thumb, stay clear of any offers that seem too good to be true. Likewise, avoid transactions that don’t use a trusted third- party merchant, and always do your research! If something seems off, trust your instincts! In today’s world, you never know what hoaxes exist!

TAKE A BREAK!

MARY’S

TASTY BRUSCHETTA CHICKEN

Inspired by Delish.com

Ingredients

•

4 boneless and skinless chicken breasts, pounded to even thickness

• • • • • •

3 tomatoes, chopped 2 cloves garlic, minced 1 tbsp fresh basil, chopped Salt and pepper, to taste 4 slices mozzarella cheese Parmesan cheese, grated

• • • •

4 tbsp olive oil

2 tbsp lemon juice, divided

1/4 tsp pepper

1 tsp Italian seasoning

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Directions

1. Add chicken to a large resealable bag. 2. In a small bowl, combine olive oil, 1 tbsp lemon juice, pepper, and Italian seasoning. Pour over chicken and seal. Refrigerate for 30 minutes. 3. Turn a grill to medium-high heat and add the chicken. Discard the marinade. Grill chicken 5–7 minutes per side or until fully cooked. 4. Combine the remaining lemon juice, tomatoes, garlic, and basil. Add salt and pepper, to taste. 5. Before taking the chicken off the grill, top each breast with a slice of mozzarella cheese. Cover and cook 2–3 minutes, then serve topped with the tomato mixture and grated Parmesan cheese.

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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.

FINANCIAL SERVICES, LLC

3226 28th Street SE Kentwood, MI 49512

INSIDE THIS ISSUE

Protecting Your Future (in More Ways Than One)

1

2

Avoid 4 Common Financial Scams

Tasty Bruschetta Chicken Take a Break

3

Siri, What’s the Prettiest U.S. Restaurant?

4

**Reminder: If you have any changes to your financial situation, please notify us as soon as possible.

Investment advisory services offered through Mattson Financial Services, LLC, an SEC-Registered Investment Advisor. Insurance and annuities offered through Lakeview Financial Group, LLC. Mattson Financial Services, LLC and Lakeview Financial Group, LLC are affiliated companies.

WHERE THE VIEW IS PART OF THE MENU … 3 Most Beautiful Restaurants in America

When you go to a nice restaurant, you’re not just paying for food — you’re also paying for an experience. Decor might be the last thing on a guest’s mind, but with the right design, some restaurants are absolutely breathtaking. Here are a few of our favorites. Pink Cadillac Diner — Natural Bridge, Virginia Taking a step into this restaurant feels like stepping straight into the 1950s … in all the best ways possible. The diner’s bold, beautiful shades of bubblegum pink — including a vintage pink Cadillac parked in front — prompt nostalgia and delight. Accompanied with a classic burger and ice cream diner menu, this East Coast gem is a destination you won’t want to miss. Cecconi’s Dumbo — New York City There are plenty of gorgeous restaurants in the Big Apple, but you’ll always hear Cecconi’s Dumbo mentioned among the best. Located in Brooklyn Bridge Park, your table might have dramatic views of the bridge or a waterfront view of the Manhattan skyline. It’s the best

possible pairing with their classic Italian menu, complete with handmade pasta and high-end ingredients from Italy.

The French Laundry — Yountville, California If there’s a contest for the best food and views offered by a restaurant in America, this three-star Michelin restaurant just might place first. Run by Thomas Keller, its rustic, cottage-like setting in Napa Valley always turns heads with its surprisingly sophisticated design (as well as its exclusive tasting menus!). The restaurant’s gardens are beautifully lit and dotted with Japanese maple trees — a sight that will blow you away. Most people can have a good meal at home, so if you have the time and money, why not pay a little extra for a nice view? Go ahead and indulge. We won’t judge — we’ll even be a little jealous!

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