Mattson Financial Services - July 2022

FINANCIAL SERVICES, LLC

616-514-3831

www.MattsonFinancial.com

JULY 2022

HISTORY REPEATS ITSELF INFLATION AND RATIONING ARE NOTHING NEW

When I’m driving to work or on a road trip, I listen to a program on Sirius XM called “Radio Classics.” It plays old radio shows that mostly aired before television existed and were common in most households. It even plays newsreels and old commercials from that time, and it provides a fascinating glimpse into our past. As you may recall stories from our elderly grandparents, there was severe rationing toward the end of World War II. It wasn’t too long after the Great Depression, so people of this generation were used to feeling deprived and possessive of whatever they could get their hands on. We’re still dealing with the fallout today because many people who lived through those times collected things most of us would consider unusable and, quite frankly, trash. One client told us about a loved one who converted a bus into a motorhome and traveled around the United States over several years. When he passed away and it was time to sell the bus, they cleaned it out and found a collection of used depleted containers, along with many other items that appeared to have no value. We all have a junk drawer or even an attic we never quite get around to clearing out, but this was something else. This person essentially had an enormous box of trash they carried around for years. I can’t help but wonder what that cost them in gas mileage. Rationing was supposed to be a thing of the past. But supply chain issues persist, war is being waged, and other economic pressures like spiking gas prices bear down on our economy. Many families are back to rationing

Mattson Financial, we’re watching the markets closely, and we’re expecting to see a lot of volatility in the third and fourth quarters, if not through the first half of 2023. In my world, unpredictability has become the new norm. We hope it won’t last, but we have to work within it which we are doing on a daily basis. No one wants to be left without funds in retirement, but if you’re already retired, that’s probably not your problem. The struggle is that all the things’ people want to do in retirement — travel, eat out, and entertain the grandkids — will all cost more in the foreseeable future. But none of this is anything new. We saw high inflation in the 1970s and ‘80s and rationing in the ‘30s and ‘40s. Many people get emotional and start to believe the sky is falling, but there will always be peaks and valleys or traffic jams that take a while to unplug. The key is to avoid getting on a freeway that’s already stopped. My wife and I have scheduled a cruise to Alaska three times now. Each time, it has been canceled. We didn’t want to change our planned destination, but we also haven’t stopped traveling. We’re booking alternative places that weren’t our first choice but remain attractive. Some things have slowed down, but that doesn’t mean your life has to stop. You just need to remain flexible and realistic in your short-term goals. In the coming months, I hope your freeway is clear and unencumbered. And as workers go back and the supply chain gets refilled, we’ll have much smoother sailing. –Gary Mattson

food and other supplies as a result. The world right now is a bit like a freeway when there has been an accident. In the U.S., you might sit stuck in traffic for an hour or two. In China, freeway stoppages can sometimes last several days! So, despite the hardship, we should be grateful that we’re only out of a few things and aren’t facing more substantial disruptions. We’re all in this boat together. And while rationing is not something anyone enjoys; it’s how we help unplug the freeway and get traffic moving again. When I visited Thailand, I learned a famous saying in the country. “Order the food you want, and eat the food you get.” It applies now to our situation. For a while, we’re going to be paying a bit more for the items we buy, and sometimes, the shelves won’t have the product we want. We’re going to have to be a little more flexible in our choices. While this approach may work for your grocery shopping, you don’t want to compromise on your retirement dreams, goals, and desires. Stocks and bonds will, at times, go negative — so you want to have other investments in your portfolio that will not go down with them. At

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BUSINESS IS A NEVER-EN

How Do You Play This Infinite Game?

“The Infinite Game” by Simon Sinek is among the greatest motivational books you can get your hands on. He gives readers an inside scoop on the importance of adopting an “infinite mindset” while “playing the game” of business. Let’s look at some of the chapters that can help you and your business. Chapter 1: Business Isn’t a Finite Game The first chapter discusses why running a business isn’t a finite game. It focuses on how profit and income aren’t the only ways to measure success. Profit means nothing if you’re unable to survive current and future difficulties. This is why business is an infinite game — you don’t want to create

something to “win” (finite); you want to build a foundation that will remain for future generations (infinite).

Chapter 2: Essential Practices Sinek explains the strategies you need to play the infinite game. These skills include developing a “just cause,” creating trusting teams, studying your rivals, preparing for flexibility, and showing courage to lead. He follows up with examples of companies that embody all five of these principles: Victorinox, the creator of the Swiss Army knife, Bill Gates and Microsoft, and the GPS company Garmin.

Chapter 5: Building a Culture of Trust A healthy work culture is based on trust. If your workers sense

‘TEST-DRIVE’ YOUR RETIREMENT SPOT THE PROS AND CONS OF LONG-TERM STAYS

Have you heard? There’s a new trend for pre-retirees: test-driving retirement destinations, just like new cars! Thanks to remote work, many folks in their 50s and 60s can spend weeks or months immersing themselves in potential retirement destinations. With a long-term rental or RV (and good Wi-Fi), you can soak up a place’s culture, weather, and way of life. This strategy worked perfectly for Rutgers professor Barbara O’Neill. According to AARP, O’Neill left her home in New Jersey to test-drive the community of Ocala, Florida, several times over three years. She spent nine months there on sabbatical and working remotely before falling in love with Florida and buying a home. Of course, that doesn’t mean test-driving retirement is right for you. You’ll experience the perks and pitfalls of your retirement spot. A Google search of “Palm Beach, Florida” can give you a bulleted list of the city’s pros and cons, but it can’t let you experience them. Is the coffee actually good? Is the humidity annoying or just downright unbearable? You’ll only know if you make the trip yourself. • You’ll see past the “vacation bubble.” As one wealth manager told AARP, “When you’re living there full time, it’s a different lifestyle than when you’re on vacation.” • You’ll build confidence. You’ll find out for sure if your retirement spot is right for you. The Pros •

The Cons •

Test-driving is expensive. Airline tickets and gas can be pricey and so can testing all of the “experiences” of a new place like restaurants and excursions. If travel isn’t in your budget, this strategy may not be for you — yet. • Not everyone has work flexibility. If you or your spouse has a career where remote work isn’t an option, test driving may not be feasible. Instead, consider waiting for retirement, then using an RV to visit multiple locations before buying a home. If you think test-driving your retirement is for you, schedule several extended stays in different seasons (Airbnb and Vrbo are your best friends). Consider your spouse’s reaction, the weather, cost of living, tax situation, health care options, and distance from family. Ultimately, getting ready for retirement should be fun, not stressful!

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NDING GAME

Upcoming Events Visit MattsonFinancial.com for more info!

a lack of trust, that affects efficiency, since no one will feel comfortable voicing their concerns or mistakes. Ford Motor Company is a perfect example. Before 2006, the now-former CEO would reprimand and penalize workers who brought him bad information. This caused an unhealthy work environment and led to lower productivity. Sinek offers tips on how to create a culture where your employees are comfortable and confident. “The Infinite Game” teaches you that business is an endless game where you have to overcome many challenges. Successful businesses play the infinite game, constantly improving the business to become better. Sinek provides tips, solutions, and examples of how your business can thrive while playing the game. To get your hands on “The Infinite Game,” visit your local bookstore or online retailer.

TAKE A BREAK!

LAUREL’S

SUMMER CRAB AND LEMON CARBONARA

Inspired by FoodAndWine.com

Ingredients

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12 oz bucatini pasta

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3 oz Pecorino Romano cheese, grated 1/2 cup fresh chives, thinly sliced 8 oz fresh crabmeat

1/2 cup olive oil

2 tbsp garlic, finely chopped 1/4 cup drained and rinsed capers, chopped 1 tsp coarsely ground black pepper 6 large egg yolks, beaten

•

• • • •

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1 tbsp grated lemon zest 1 tbsp fresh lemon juice Sea salt or kosher salt, to taste

•

Solution on pg. 4

Directions

1. In a pot of boiling water, cook pasta until not yet al dente. Drain and reserve 1 cup cooking liquid. 2. In a large skillet over medium heat, cook oil and garlic until lightly toasted. Add capers and black pepper, then stir for 2 minutes. 3. Add reserved cooking liquid to skillet and bring to a boil over medium heat. Stir in pasta and cook until al dente. Remove from heat. 4. Stirring constantly, pour egg yolks quickly into the mixture. Add cheese and chives, stirring well until sauce is creamy. Add crab, lemon zest, and lemon juice. Toss together and season with salt.

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FINANCIAL SERVICES, LLC

3226 28th Street SE Kentwood, MI 49512

INSIDE THIS ISSUE 1

With Rationing and High Inflation, History Repeats Itself

2

Don’t Rely on Profit to Measure Success Should You ‘Test-Drive’ Your Retirement?

3

Summer Crab and Lemon Carbonara Mark Your Calendar!

4

3 Summer Food Festivals Worth the Trip

**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.

Traveling for the Food?

According to AAA, millions of Americans take “culinary-focused vacations” every year. We’ll travel to Philadelphia for cheesesteaks, Texas for barbecue, Louisiana for gumbo … you get the idea. Our culture loves to eat! If you’re a traveling foodie, you are in luck: Add these three summer festivals to your must-visit list for this summer or future food-finding trips. DON’T MISS THESE 3 FESTIVALS

with jerk chicken, enjoy whole fish, and drink icies straight from hollowed-out

pineapples. Six celebrity chefs will make appearances this year to compete in food contests and show off their Jamaican roots and/or

Pierogi Fest (Indiana) July 29–31; PierogiFest.net

dishes. When attendees aren’t eating, they can relax at a musical or cultural performance.

The Polish pierogi is a humble food: mashed potatoes and cheese wrapped in soft dough and either fried, baked, or grilled to perfection. But simplicity should be celebrated! In Whiting, Indiana, Pierogi Fest is a three-day affair that brings in more than 300,000 people for events like a Polka Parade, a pierogi toss, and, of course, pierogies stuffed with everything from cheese to alligator meat. Of course, there’s also a beer garden, because as the organizers put it, “Beer and pierogies go together as well as peanut butter and jelly.”

Key West Lobsterfest (Florida) Aug. 11–14; KeyWestLobsterfest.com

This year is the 25th annual Key West Lobsterfest! Seafood lovers come from all corners to enjoy the crustacean-crazed festival, which includes a cinematic lobster boil at sunset, a lobsterfest pool party, a pub crawl, and an all-you-can-eat-and-drink lobster brunch. Head to the website to learn more and score delicious lobster recipes — even if you can’t attend! Want more food festival intel? We’ve got you. Visit Insider.com and search “food and drink festivals” for a list of 28 top food attractions, ranked by Yelp reviews.

Grace Jamaican Jerk Festival (New York) July 31; JerkFestivalNY.com

Yes, New York City is home to fantastic pizza and bagels, but it’s also a Caribbean food hub! At this festival, visitors can stuff themselves

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