Garry F. Liday Corporation September 2018

Garry F. Liday Corporation September 2018

Call Us: (503) 620-3531 www.garryliday.com

SEPTEMBER 2018

Garry F. Liday Corporation FINANCIAL COACH

RETIREMENT ASSET MANAGERS, INC. A Registered Investment Advisory Firm (RIA)

My Journey on the Career Path A LIFELONG EDUCATION

My father, Ford, grew up during the Great Depression. He left home at 14, riding freight trains to survive and find a better life. Eventually, he settled in Oregon and started a family. We never went hungry as kids, and he found stable work, but the Depression-era outlook never left him. One of his favorite sayings was “We’re poor. You can’t do that.” I can still hear his voice saying those words. I was a curious kid, the type who’d take apart a watch or lawnmower just to see what was going on inside. I couldn’t always put them back together, but I always did my best. Mostly, I just wanted to take a peek into the inner workings of things. As I got older, I started applying that way of thinking to Dad’s saying. Why couldn’t I do certain things? What did being poor actually mean? How did money work? These questions were probably the first step on my path to a career in finance, though I didn’t know it at the time. After finishing up my service in the Marines, it was time to decide on a career. To be totally honest, I didn’t have anything resembling a plan. All I knew was that I wanted to help people and really make a difference in their lives. After asking around, I got the idea that assisting people with their financial planning would be a great way to pursue this goal. Money’s something everyone worries about — heck, my dad sure did — and it’s incredibly complex. So it ticked the “have a positive impact” box, as well as the “something you won’t get bored with” box. I got into this business on July 1, 1970. I did some research and made sure I got my start with a reputable insurance company. I wanted the best training and education I could find. They provided that in spades. Every two weeks, we’d have a meeting where we’d pore over a certain document, going line by line and explaining what terms meant and how the documents worked. In a sense, we were taking them apart, just as I had done with the lawnmower all those years before. Once I felt I had the knowledge and experience to open my own business, I went independent. While I couldn’t imagine going back

to a company now, I’m very grateful I started there. If I could do it all again, I would start on the exact same day at the exact same place.

49 years later, and I’m still learning. I did some calculations recently and discovered that, in the course of my career, I’ve completed 15,000 hours of education — and that’s not even counting the learning I’ve done on the job! In this business, if you stop learning, you get left behind or run over. That may scare some people, but it’s one of the things that makes my job so rewarding. The industry is always changing, and you have to keep up to provide the best service to your clients. As a lifelong learner, the ever-changing nature of my profession excites me. I learn something every single day at work. I get tips from young people, older folks, and anybody you can think of. And the best part is that it doesn’t feel like drudgery. I guess that’s the joy of finding a career that you’re passionate about. For as long as I’m doing this, you can bet I’ll do whatever I can to improve my craft. I just can’t see it any other way. Seven decades after I first opened up a watch, I’m just as curious as I’ve ever been. When you’re rich with knowledge and a desire to acquire more, you’ll never think of yourself as poor. – Garry Li day

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When Your Funds Are Lower Than They Should Be HOW TO BOOST YOUR RETIREMENT FUNDS

Having money saved is crucial for adults aged 50 or older who plan to retire in the near future. Some people are prepared for retirement, having saved a sufficient amount throughout their lives. However, there are people who, despite having tried to save, come up short in their retirement funds. This can send them into a panic. Women account for the largest percentage of people who don’t have enough money in their retirement savings by the time they reach the age of 50. A survey produced by the nonprofit Transamerica Center for Retirement Studies shows that many women who reach retirement age will not have adequate funds to support themselves. Despite having a higher savings rate, the average amount women have saved at the age of 50 is about $35,000, compared to $120,000 for men. What’s the reason behind this?

to work part time or stop going to work to take care of family members in need. By working less, women tend to earn less money, which prevents them from putting away sufficient funds for their retirement. This also affects whether or not they are covered by their employer’s retirement benefits, since most employees are required to be full-time in order to receive any benefits. If you’re nearing retirement age, don’t fret — you still have options available to you. If you’re working, look into your company’s retirement plan, especially if they offer a 401(k). According to the IRS, those who qualify (i.e., someone who joins the plan and is 50 years or older) can contribute up to $24,500 a year. To learn more about what options are available, call our office. By working with someone who understands retirement, you’ll create a solid plan and ensure that you successfully enter and enjoy your retirement.

According to the survey, women often have a large gap in their financial savings at some point in their lives. They are more likely

PREPARE YOUR GARDEN Autumn Steps for a Better Spring Garden

With fall just ahead, it’s a good time to think about your spring garden. For a beautiful garden next year, begin preparing this fall. Here are a few ways to get a head start! PLANTING BULBS If you want beautiful flowers in April, you should start planting bulbs now. Many flower bulbs need to be in the ground before winter settles in; this helps activate the bulbs’ biochemical process that allows them to bloom. Getting the bulbs into the ground before it freezes allows their roots to grow deep enough to protect them from the biting winter weather. Among the flower bulbs you should plant soon are tulips, daffodils, irises, and hyacinths. CHICKEN WIRE After you’ve planted your bulbs, there’s a risk that uninvited guests will dig them up. There are a few ways you can ensure that your bulbs remain undisturbed throughout the fall. One way is to place chicken wire over your

bulbs after they’ve been planted. This keeps rodents from digging them up and allows the plants to grow through the gaps in the wire.

KEEP YOUR GARDEN TIDY Once you’ve harvested your best fruits and vegetables, go back through and harvest the rest, even if you don’t plan to eat them. Make sure your garden is clear of old vegetables, fallen leaves, and weeds. Leaving decaying plants in or on top of the ground can spread diseases into the soil and attract unwanted pests to your garden. HEALTHY SOIL Pulling up weeds and all of your vegetables can help keep the earth free from rotting plants, but there are other steps you can take to ensure that your soil stays full of nutrients. Pick up a kit to test the pH levels of your soil. Most gardens thrive in soil with a pH of 6.5. Add compost to your soil supply now to give it time to break down during the winter months.

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Your Cast-Iron Skillet Cast-iron skillets have been utilized almost religiously for a long time, but they became especially popular at the beginning of the 20th century. In some families, HOW TO CLEAN AND PRESERVE

a cast-iron skillet is passed down from parents to children to grandchildren — and for good reason: When properly cared for, a good cast- iron skillet can last for generations. There’s nothing quite like a classic breakfast of bacon and eggs right out of the iron skillet. The problem is, once breakfast is over, you’re left with grease and other stuck-on food. But if you follow these steps, you’ll be left with a cast-iron skillet that’s good as new and ready for its next use.

The best way to clean cast iron is to use heat. If you’ve let the skillet cool after cooking, start by heating it back up

until you get a touch of smoke coming off the grease or stuck-on food. As the skillet heats up, turn on the tap and let it run as hot as possible. (Warning: Never run cold water over hot iron. You’ll crack the metal and ruin the skillet.) Rinse the hot skillet under the hot water. There will be a lot of steam, so be sure to lean back a little! Then, using a wood or silicone spatula (never metal — this will scratch the iron), remove all excess grease and food particles. They should come off like a breeze. If any food particles remain, it’s time to break out the salt. Once the skillet is cool, add about a tablespoon of coarse salt and one tablespoon of water. With a soft sponge, scrub away the leftover debris. Once the remaining particles are gone, rinse and dry thoroughly. To make sure your skillet is completely dry, set it back on a hot burner for a few minutes so that all leftover water drops evaporate. To maintain the nonstick surface of the skillet, you’ll need to complete a few more steps. Remove it from heat and use a lint-free rag to gently rub a tablespoon of vegetable oil (coconut and peanut oil work too) into the surface of the skillet. Cover all parts of the skillet, including the bottom and handle, with a thin layer of oil, and when you see that dull shine, it’s good to go!

Panzanella, a Tuscan favorite, is a salad that features hearty chunks of bread instead of leafy greens as its base. What could be better for a late- summer cookout? LATE- SUMMER PANZANELLA

Inspired by Food Network

INGREDIENTS

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1 small loaf French bread, cut into 1-inch cubes (6 cups) 3 tablespoons extra-virgin olive oil

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1/2 red onion, thinly sliced

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1 cucumber, sliced into rounds

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Every time you use your cast-iron skillet, follow these steps. It may sound like a bit of extra work, but your skillet will reward you with decades of delicious meals!

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20 basil leaves, chopped

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2 large tomatoes, cubed

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Salt, to taste

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2 red bell peppers, seeded and cubed

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Vinaigrette

INSTRUCTIONS

1. In a large saute pan, set to medium-low heat and add olive oil. Add bread and 1 teaspoon salt, tossing often, for 10 minutes or until toasted. 2. In a large bowl, mix vegetables and herbs. Toss in bread and your favorite vinaigrette and mix again. 3. Serve immediately or allow to sit up to 30 minutes for the flavors to meld together

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Garry F. Liday Corp. Retirement Asset Managers, Inc. A Registered Investment Advisory Firm (RIA) 15405 SW 116th Ave., Suite 103A King City, OR 97224

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Inside This Issue How I Learned About Money page 1 Women and Retirement page 2 Get a Head Start on Next Spring’s Garden page 2 Late-Summer Panzanella page 3 Get Decades out of Your Cast-Iron Skillet page 3 The 5 Best College Football Tailgates page 4

TAILGATING AT ITS FINEST 5 Tailgates so Good You Might Miss the Game

surrounding area are even better places to show your Badger pride. If you can’t get into the arena to jump around in the fourth quarter, you can still join the tradition anywhere in Madison where there’s red and white. 3. LOUISIANA STATE UNIVERSITY Geaux Tigers! LSU’s tailgate is something to be revered across the country because of its food options. While the jambalaya and barbecue are utterly fantastic, Tiger fans whip up something else when the University of Florida comes to town: alligator. 4. UNIVERSITY OF WASHINGTON The Huskies have a different take on tailgating than almost any other university in the country. While most schools gather in parking lots, Washington fans are out in the water. That’s right — this “tailgate” is known for the boats that pull into Union Bay right outside the stadium. 5. UNIVERSITY OF MISSISSIPPI On game day, the Grove at Ole Miss transforms from a serene 10-acre park with mature trees to a scene unlike any other. Tens of thousands of fans gather in their red, white, and blue to prepare for the Walk of Champions, where the entire team strolls through the tailgate on their way to the stadium. It’s 35 years of tradition that contributes something special to the scene.

There’s a slight buzz in the air as you walk through the parking lot. Your ears embrace the sounds of cheering and conversation. Smells of recipes that took years to perfect fill your nostrils as you navigate through a sea of tents and pickup trucks. Friends and family wait at your destination with a cold beverage. The crowds of people all sport the colors of the home team as you finally arrive for what you’ve waited for all week: game day. Tailgating is a college football tradition unlike any other. Schools across the country will claim to have the best, but few can back it up. Here are five universities that can talk the talk and walk the walk. 1. UNIVERSITY OF MICHIGAN Go blue! The tailgate in Ann Arbor is truly something to behold. “The Big House” parking lot opens at 7 a.m., and from then on, it’s all party, all the time. With one of college football’s biggest stadiums, it’s only natural that the tailgate follows suit. 2. UNIVERSITY OF WISCONSIN Walleye, cheese curds, and brats are just the beginning at Camp Randall. Wisconsin has great tailgating at the stadium, but the local hotspots of the

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