McBeath Financial Group - May/June 2022

McBeath Financial Group - May/June 2022

MAY/JUNE 2022

Financial Horizons Your Connection for Wealth, Lifestyle & Legacy

McBeathFinancialGroup.com

309.808.2224

Enjoying the Journey RETIREMENT IS WORTH THE WORK

Summer vacation is just around the corner, and if you have been following my articles for a while now, you know just what summer means for my family. Our daughter’s last day of school is on May 27, and afterward, we’re loading up the car — our 17-year-old (stinky) wiener dog and my in-laws will join us, too — and making the 10-hour trek to open up my family’s cabin in Minnesota. So, it sounds like an adventure, right? There’s no place like the cabin. It’s full of family memories that started nearly 70 years ago, and we enjoy every moment we spend in the quiet woods or playing on the lake. I’ve mentioned many times how it’s the highlight of my summer! But, there’s one particular part of the trip I NEVER talk about! If you’ve ever been on an extended family car trip, you know exactly what I’m talking about! I’ll give you a hint: “Are we there yet?” Sound familiar? No, not from my daughter; it’s actually what’s going through my head constantly through the stressful drive to the cabin. As I said, it’s a 10-hour drive — one way — but we always seem to need about 14 hours to get there. A drive up to the family cabin isn’t complete without an unexpected detour, whether road construction or a wrong turn (although, we should expect it by now.) No matter how well we prepare, how many times we’ve driven it, or how many times we consult Google Maps, we always seem to find ourselves a little lost. Robert and I joke that there have been car rides to the cabin where we needed to

bring a marriage counselor with us! But, as married couples learn, you just have to accept there will be mishaps and detours. We now expect to have hiccups along the way, and we calmly handle them and eventually end up back on track.

I guess we’ve learned we always get there, and there’s no reason to stress along the way.

What helps is that we focus on the destination ahead instead of the difficulties getting there. For generations, it’s been a sacred place to create family memories. I don’t know a better place to leave the world behind and grow together as a family. No matter how difficult the drive or how long it takes to get there, the serenity of the family cabin is worth each trip there and back. In many ways, the financial planning process may sound like a long road trip with detours, a packed vehicle, and a smelly dog on your lap. Okay, maybe not the smelly dog, but I know there can be some anxiety about the journey. Some people don’t know where to start; some may not want to deal with tracking down their financial records, others might want to procrastinate making family decisions, and others just don’t know where to start. The truth is that it’s a process but not overly difficult or painful, especially when your “traveling companion” is an experienced guide. And, in the end, the peace of mind is worth the investment of the efforts put into your financial security. I’ll admit to my readers (but not to my husband) that I may have had issues with Google Maps in the past. But, when it comes to the GPS for financial planning, I’m the co-pilot you want riding shotgun! No matter how much planning you do, life will have unexpected bumps, and it may require an alternate route or short detour. The important thing is to stay focused on the end destination: preservation of lifestyle, wealth, and legacy. As we guide our clients through this journey, we find the rewards are a small price to pay for the efforts to get to our destination. —Krista McBeath

Leave Us a Review!

Thank you to everyone who has bought, read, and shared their thoughts about my book, “The Generational Wealth System.” To ensure others read about this valuable information, I need your help! If you enjoyed my book, please scan this QR Code and leave a review.

Thank you for your support!

309.808.2224 1

Enjoy the Later Years in Life 3 VITAMINS AND SUPPLEMENTS FOR HEALTHY AGING

Growing old is an inevitable part of our lives. There isn’t a magic potion to drink or secret spell to cast that will turn back time, but we can do things to slow the effects of aging. Our life expectancy is longer than it used to be, so it makes sense that you would want to enjoy those extra years. While staying active and eating well play a huge role in healthy aging, there are also some anti-aging supplements and vitamins that will help your body stay strong.

contain compounds with medicinal properties with the most important being curcumin. Curcumin has great anti-inflammatory and antioxidant properties but is also believed to improve memory issues and lower your risk for heart disease. Using more turmeric in your dishes will increase your intake of curcumin. Vitamin C Vitamin C is an incredibly beneficial vitamin for people of all ages but becomes even more useful for those over the age of 50. A study by Frontiers in Aging Neuroscience found that older adults with higher blood levels of vitamin C performed better on tasks involving focus, attention, recall, and recognition. Additionally, vitamin C can also help with skin health and can even improve immune function in older adults. There are various things you can try to slow down the aging process, but if you’re unsure where to turn, give these vitamins and supplements a shot.

If you’re looking to try some anti-aging supplements but don’t know where to begin, give these a try.

Resveratrol Resveratrol is a class of micronutrients that plants make to survive drought or attacks from disease. It has fantastic antioxidant and anti- inflammatory properties, so it’s great at protecting you from diseases like cancer, diabetes, and even Alzheimer’s. Additionally, it can be used as a strong remedy for arthritis and skin inflammation. You can increase your intake of resveratrol by drinking red wine or by eating more peanuts, berries, and grapes. Curcumin For years, the spice known as turmeric has been used as a nutritional supplement with great benefits for your mind and body. As science has progressed, they’ve found that turmeric does

Why Many Are Postponing Their Retirement Reconsidering Your Best-Laid Plans

“Inflation” is the word on the tip of everyone’s tongue, and the phrase “market volatility” often closely follows. We’re in unprecedented times, and the uncertainty has caused many people to reconsider their retirement plans. So, should you wait until the market rebounds to leave your working days behind? The decision will be different for everyone, but most people will need to consider similar factors. While you’re still accumulating wealth, the “sequence of returns” has little importance. In other words, you may earn 7% some years, 20% during others, and even minus 5% in some instances. But over long stretches, those individual gains and losses aren’t relevant; your portfolio will generally balance out with a healthy annual return.

significance. Once you’ve sold a stock or other financial instrument at this lower price, it’s no longer available for you to benefit from any potential future growth. Many people who are newly retired or considering retirement worry that this could put them at a disadvantage or cause their funds to run out earlier than intended. We balance our planning for that type of risk. Typically, only a relatively small amount is withdrawn from a portfolio every year, so even a large market drop for a single year would have minimal impact on an overall portfolio over the course of a long retirement period. Further, you will probably have other income streams during retirement, like a pension or social security.

to retirement, thinking it will help avoid problems with the sequence of returns. But people are living longer, and some will be retired for 35 years or even more. So-called “safer” investments can prematurely erode purchasing power if they don’t keep up with inflation. We take all of these factors into account, balance the risks, and design portfolios for longevity. Only you can decide whether retiring in this climate is right for you. Market swings and inflation can certainly make retirement more hazardous. These are the times when it’s most beneficial to have a trusted financial advisor to help you navigate the risks. As part of our financial planning, McBeath Financial Group is a valuable resource in providing guidance towards the timing and strategy behind a more secure retirement path.

However, when you start withdrawing money, the sequence of returns can take on more

Many people reduce exposure to volatile investments as they get closer

2 McBeathFinancialGroup.com

Feeling Like a Million Bucks

SUDOKU

But Is It Enough?

A lot of us grew up dreaming of becoming a millionaire someday. It was the epitome of success, the definition of making it rich. National Be a Millionaire Day is on May 20. This unofficial holiday celebrates the dream of effortless wealth, and it got me thinking about the days when a dollar was worth a lot more. I had no idea how much (or little) $1 million really was ... times have changed. One million dollars isn’t what it used to be — no amount of money is. Inflation has risen to almost 8%. That’s the highest it has been in decades, and no one can predict where it will go from here. Once upon a time, $1 million was more money than most people could spend in a lifetime. Now, we live in an age where many retirees have concerns about whether it would be enough to last them through their lives without sacrificing their standard of living.

SOLUTION ON PG. 4

Where you live certainly contributes to how far your money will go. The cost of living can vary wildly across our great country. According to GOBankingRates*, $1 million at the start of retirement may last you 25 years in Mississippi but only 10 in Hawaii. Though their assessment makes many assumptions about growth and withdrawal rates, it’s helpful to see just how much the value of your wealth can change based on geography. Here in Illinois, $1 million will supposedly last approximately 22 years. Though that’s not bad, everyone’s needs and living standards are different; some people have costly health expenses, and others intend to move once they retire.

We have clients from many walks of life. Some are wealthy, and some are not, but many worry about running out of money, even if the fear doesn’t line up with reality. The idea of not being able to care for yourself is frightening, and no one wants to lower their standard of living. Also, many people want to leave something to their loved ones when they pass, creating generational wealth that can benefit their families for many years. It’s hard to know how to balance what you have and what you leave behind, especially since none of us know how much time we have left. Though a dollar may not be worth what it used to be, the most important thing is to ensure your wealth continues growing as times change. By having a solid plan and team of experts in place, you’re already on your way to feeling like a million bucks in retirement — whether your portfolio is worth less than that or much more.

—Krista McBeath

*GOBankingRates.com/retirement/planning/how-long-million-last- retirement-state/

309.808.2224 3

Published by Newsletter Pro • www.NewsletterPro.com

PRST STD US POSTAGE PAID BOISE, ID PERMIT 411

203 Landmark Dr., Unit A - Normal, IL 61761 - 309.808.2224

I N S I D E

1

Helping You on Your Retirement Trek

2

3 of the Best Anti-Aging Supplements

Should You Wait to Retire?

3

Who Wants to Be a Millionaire?

4

Hate Souvenir Shopping? Let’s Make It Easy

SOLUTION

Picking the Perfect Souvenir 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.

A way to preserve or share a piece of your trip is to bring home a souvenir, but choosing a souvenir isn’t always a stress-free experience. How do you pick the perfect souvenir and not just the

trying to bring home chocolate Kinder eggs — a specific kind that are illegal in the U.S. due to the potentially hazardous small toys inside.

Purchase a handicraft. Handicrafts — items created by local artisans — are awesome souvenirs! But make sure you buy where artisans actually sell their own goods, such as an open-air market. Unfortunately, while some popular tourist shops may sell “locally made goods,” many souvenirs intended for tourists are actually made by cheap manufacturers in other countries. Keep something from the adventure. Bringing a glass bottle to take home some sand is a popular way of creating your own souvenir from a beach vacation. But you can do this with almost any item! Whether it’s stones, ticket stubs from favorite shows and activities, or a handmade item from a class, make sure to look out for souvenirs that’ll remind you of great memories and experiences.

first thing you see in a tourist shop? Here are some tips for picking a truly meaningful gift for yourself or your loved ones. Who are you buying for? What are your recipient’s interests, or what do they spend the most time doing? If you’re buying for yourself and enjoy coffee, you might buy a local coffee blend to enjoy from home. However, if your recipient doesn’t enjoy coffee or rarely drinks it, that type of gift might not mean much to them.

Is it legal to bring home? Whether you’re traveling domestically or

internationally, there are many regulations that affect which souvenirs you can bring home. Even if you find the item in a tourist shop, that doesn’t mean it’ll be allowed into the country or even onto the plane. And the TSA does take this seriously. In 2012, two tourists were detained at the U.S. border for

We hope these tips will help you make the best choice. Bon voyage!

4 McBeathFinancialGroup.com

Published by Newsletter Pro • www.NewsletterPro.com