McBeath Financial Group - March/April 2021

McBeath Financial Group - March/April 2021

MARCH/APRIL 2021

Financial Horizons Your Connection for Wealth, Lifestyle & Legacy

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15 Years Later Looking Back at One of the Greatest Days of My Life

On March 25, my husband Robert and I will celebrate our 15th wedding anniversary. The years have flown by — at least that’s what Robert says! But he’s right; in that same amount of time, we could be celebrating our daughter’s wedding! She’s almost 8, and it’s surreal when you realize she could be getting married just 15 years from now! The years really do fly by. Still, I remember our wedding day like it was yesterday. Robert and I got engaged in July 2005, and we spent the next nine months parsing out every detail of our wedding. (Robert’s favorite part was the cake tasting. I can’t say I blame him!) The result was a perfect day surrounded by our friends and family. We decided to marry in my hometown church, Lincoln Christian Church, where my faith was sculpted as a child. It is also the church where my grandfather had been a pastor and where my parents were married. It’s hard to explain how emotional it was to say my wedding vows in a place so sacred to my family. Our ceremony was officiated by my Uncle Gene Appel, a renowned pastor in his own right. And it’s hard to forget my cousin, who is like a sister to me, who stood by my side as my maid of honor — while she was eight months pregnant! There were so many cherished moments from the ceremony and the loved ones Robert and I shared it with. Afterward, we were whisked off to our wedding reception at Bloomington DoubleTree; this is where the fun really began! Among the most memorable moments were the entrances by our wedding party. The groomsmen indulged Robert by wearing gold-rimmed Elvis glasses as they danced into the room to the tune of “Burning Love”! (Robert swears it was his Elvis costume that first made me fall in love with him, but that’s a story for another time.) Of course, no one will forget the moment my dad dropped my mother on the dance floor! The DJ’s job was to shine a spotlight on a couple, who were then prompted to kiss. My dad decided to make a show of it, so he dipped my mom. But at that moment, he dropped her and fell right on top of her! You can’t script a memory like this! It was such a special, hilarious moment no one will forget.

to do it again, Robert and I would hire a professional wedding planner. It just wasn’t in our budget

at the time, but as a financial planner,

I’ve learned just how valuable having that third-party input and expertise is in planning for “the big moments.”

Much like the care that goes into planning a

wedding, planning for your retirement and future can be emotional. As a financial planner, my job is to listen. I don’t take on this

role lightly, and it’s my job to be empathetic to what you want and need. It can be taxing to consider all these options, and I often see this emotional stress while working with couples. One spouse has one goal, while the other has a very different goal. To find a compromise, I take time to understand your wishes and your spouse’s goals, so we can find a way to combine these into an effective plan. That communication and connection are so important when planning something this big — whether it’s a wedding or your retirement. These moments require careful, thoughtful planning. Even if some of the greatest memories of our wedding were not planned out 15 years ago, we know that even those moments would have never been possible without careful planning of the rest of the event. I would hate for anyone to miss out on the beautiful, natural things that happen in life simply because they didn’t have a good financial plan supporting their journey. That’s why I’m honored to do the work I do every day and to serve you and your goals. —Krista McBeath

All told, it was a great day, even if the tremendous amount of stress that came with planning a wedding was a lot to take on. If we had

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Improve Patience and Reduce Stress

WITH THESE 4 TIPS

Meditate A great way to increase your patience is by meditating, a combination of

In this fast-paced world, it can be easy to grow impatient. Things as small as waiting for a slow website to load or waiting in a long line for coffee can sometimes leave people feeling frustrated and anxious. Practicing patience helps reduce stress and helps you realize it’s okay if something takes a few extra minutes. If you find yourself feeling impatient, here are a few helpful tips. Breathe Deeply When you feel stressed, your breathing gets shallow, which amplifies anxiety. Practicing deep breathing can help reduce stress and frustration by relaxing your body and mind. This is as simple as taking a few quiet moments to inhale through the nose, drawing your breath into the belly and lungs. Count to four to help you focus as you inhale. Then exhale slowly through your mouth. After a few repetitions, you will find that your mind and body feel calmer. Switch Focus When agitated, it’s common for our thoughts to center on the irritant. Though it may feel difficult to do when you’re stressed out, switching your focus will help you calm down and be more patient. For instance, if you find yourself growing more and more frustrated by hitting red lights as you drive, try focusing on green instead. Looking for passing cars, signs, trees, or anything that is green will help break that hyper-focus and shift it from negative to positive. Soon, those red lights will be less bothersome. HOWWILL A BIDEN PRESIDENCY AFFECT YOU?

the first two tips — focus and breathing. Meditation helps people constructively manage

thoughts by allowing them to practice observing their thoughts from a neutral perspective. Regular meditation can reduce stress and improve patience throughout the day. Even just 5–10 minutes of daily practice can have a tremendous impact over time. Practice Acceptance While the above tips can help you improve your patience, sometimes you must simply accept that some things can’t be rushed. There will be times when we cannot control the outcome: A red light will change to green when it changes and no sooner. Learning to accept that can help people let go of their frustration, become more understanding of their situation, and greatly improve their patience.

Hi, everyone. Krista here, again. I don’t know about you, but I can’t remember a more controversial presidential election than what we just experienced. I think most of us — regardless of which candidate you supported — are just glad it’s over. I know we are all hoping for the best as we move forward. I also know many of my readers have concerns over how the Biden administration will affect them and their families. It’s no secret that, at the very least, tax changes will occur. So, the question is this: How will it affect you, and what can you do about it? The truth is that we cannot worry about something we have no control over. It’s futile. Tax increases or changes are

something that could happen at a national level, but rather than worry about what that could mean, it’s best to be as prepared as possible. This may include adjusting your financial strategy to account for any changes that may come. Remember, there will always be changes when new administrations take effect, and that often leads to fluctuations in the market. We cannot control the obstacles that come our way, but we must remember that for as many challenges as there may be, there will also be opportunities. Those who work with professionals attuned to these changes are able to adjust efficiently; this should provide some peace of mind to those who worry about their financial futures.

I want to leave you with this final thought: I’ve noticed that I have much more control over how my life goes than the president does. Like any other American, I’ve been excited about some presidents while there have been others who I’ve dreaded, but to be honest, I have yet to find a president who has had a direct impact on my personal successes and failures. I believe it is up to each one of us as individuals to make the best out of our personal situations. With the proper attitude, planning, and the execution of said plans, we the people are empowered for success — no matter who is in the People’s House.

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SUDOKU

Your estate plan is an essential tool that you will never personally use, but it could be vital to your family’s grieving process. Don’t put this off any longer. Get started on your estate plan in just three easy steps. Pro Tip: Consult with an estate planning attorney to create a plan that meets all the requirements set by the state you are filing it under. This will ensure your plans and wishes are met after your passing. No. 1: Create and file documents. There are a few moving pieces to an estate plan, but there are some main documents that should be included. You will need to create a will — and possibly set up trusts — to designate where you would like your assets to go after you pass. Although having a will won’t allow your estate to bypass probate, it is a document that everyone should have. This will allow you to document your wishes and control how your estate is inherited. Other documents include a living will and powers of attorney designations, which could aid your family should you become incapacitated. You should also consider a Transfer on Death Instrument for your home. No. 2: Review and consolidate. Regularly review your beneficiary designations. Do you know who will get what, and are those the people you would want to receive those assets should you pass away tomorrow? Review your plan and designations at least once per year and update these as needed. When doing so, create a list of debts and assets, which your heirs can use as a “map.” You should also consider the ways you can consolidate your retirement and bank accounts to streamline the closing process for your loved ones. I recommend Transfer on Death designations for all of your bank accounts. No. 3: Communicate your wishes to your loved ones. Discussing your death can be uncomfortable, but it is the only way you can guarantee your loved ones understand how to preserve your legacy. Start by choosing an executor — the person who will ensure your estate plan is followed to the letter — and confirm they are comfortable filling this role for you. Then, discuss your plans with all your heirs. Ensure they understand your wishes and take this time to highlight any causes you would like to support after you pass. If updating or creating your estate plan prompts any questions about your retirement or financial plan, don’t hesitate to call McBeath Financial Group at 309.808.2224. 3 Steps to a Better Estate Plan

SOLUTION ON PG. 4

“The pessimist sees difficulty in every opportunity. The optimist sees opportunity in every difficulty.” –Winston Churchill

—Krista McBeath

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I N S I D E

1

What I Learned From Planning a Wedding

2

How to Be More Patient and Less Stressed

How Will a Biden Presidency Affect You?

3

Create Your Estate Plan in 3 Steps

4

3 Irish Travel Destinations for Your Bucket List

SOLUTION

3 Irish Travel Destinations for Your Bucket List DON’T MISS THESE HISTORIC SPOTS! Advisory services are offered through Landmark Wealth Management Inc, dba McBeath Financial Group, an Illinois Registered Investment Advisor firm. Insurance products and services are offered through McBeath Tax and Financial Services, LLC. McBeath Financial Group and McBeath Tax and Financial Services, LLC. are affiliated. All content of this newsletter is for information purposes only. Opinions expressed herein are solely those of McBeath Financial Group and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual financial professional prior to implementation. Copyright 2021 McBeath Financial Group.

of Ireland groaned. The pub is famous for its Irish whiskey, music, and history, which stretches back to 900 A.D., far enough to earn it the title of “Oldest Bar in the World.” As of this writing, Sean’s is slated to reopen when it’s safe again, and considering it has already survived the bubonic plague and the Spanish flu, odds are good that it will make it through this, too! Soon, you’ll be able to raise a glass in the same rooms where the noblemen of nearby Athlone Castle shared drinks in the 12th century. Find more historical tidbits at SeansBar.ie.

as a test of strength. The survivor was named clan chief, and later Leap Castle was built on that very site — beginning its long and bloody history. Read more about its haunted priest’s house, murder hole room, and bloody chapel at LeapCastle.net and meet the many ghosts that haunt its halls.

A Famous Smugglers’ Shortcut Newcastle, County Down

Traveling to Ireland might not be an option for you right now, but like a leprechaun hoarding gold, you can still fill up your bucket list with all of the pubs, rolling hills, and lucky sites you’d love to see. This month when you’re planning your trip t o Dublin, Galway, or Cork, add these spots to your itinerary.

Get ready to tie up your hiking boots! This roughly 2-mile hike, called Hare’s Gap, is one of the most famous and beautiful routes in Ireland. When you climb through this pass in the Mourne Mountains, you’ll be rewarded with views of glacial cliffs, boulder fields, and ancient-looking stone walls. Legend has it that the pass was part of the Brandy Pad smuggling route, used to ferry goods like soap, leather, spices, and coffee.

Ireland’s Spookiest Castle Coolderry, County Offaly

If you’re a fan of thrillers and true crime podcasts, you won’t want to leave Ireland without visiting Leap Castle. This 16th- century haunt was built by the fierce O’Bannon clan, who famously ordered two brothers to throw themselves off a rocky cliff

The Oldest Bar in the World Athlone, County Westmeath

When Sean’s Bar closed because of the COVID-19 pandemic, the entire country

Safe travels, and ádh mór (good luck)!

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