Wolf Retirement Navigation September 2017

Wolf Retirement Navigation September 2017

904-232-8760 www.wolfretirement.com MONTHLY September 2017 RET IREMENT NAV IGAT ION

Book Bags and Big Steps What ‘Back to School’ Means to a Dad

moment for me to see my daughter walk in to her first day of school.

“Back-to-school season” means different things over the course of one’s life. As a kid, back to school meant an end to the golden summer vacation and the start of spending eight hours a day trapped in a classroom. During college years, back to school meant you’re one step closer to finally getting your degree and starting your career. As a parent, I’ve learned back to school means realizing your baby is growing up. been in nursery school, but preschool is “the real deal.” When we took her to class on the first day of school, Bella saw some kids she recognized waiting around and was happy to play with them. When the classroom door finally opened, in her excitement, Bella was basically, like, “Mom and Dad who?” She skipped off without a second thought. It was very emotional for my wife, Danielle, and I’ll admit it was a big I started my own company years ago so I could have the flexibility to be there for the important occasions in my daughter’s life, as well as the everyday moments. My daughter Isabella just started preschool. For the last two years, she’s

I am so glad I get to watch her grow up and learn new things. Being a dad is awesome. I started my own company years ago so I could have the flexibility to be there for the important occasions in my daughter’s life, as well as the everyday moments. I chose my office to be in a location where I am able to drop off Bella at school in the mornings. Of course, I’ve learned I need to get my hug and kiss before she gets out of the car. Once the door opens, she’s running to the building, book bag in tow. I love the moments we spend together, and I wouldn’t ask her to slow down. She’s growing up fast, and I’m proud I get to be here to guide her through it. grows up, and I know I need to think ahead so I can take care of her if and when the unexpected happens. Many people work hard and make sacrifices not just to pay the bills today, but to save money for the future to take care of their families. Sometimes working hard means we have to put big family plans on hold. Part of what I love about helping people plan for and enjoy their retirement is that I am also able to help them take care Being a parent means you have to make sacrifices. I will be there as my daughter

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of their families. When we finally say goodbye to the workforce, we’re free to travel, visit with our family, do all the things we never had time to do while working. A smart financial plan will also make room to take care of your family. That could mean creating big memories on a vacation, being able to handle a medical emergency without draining your resources, or enjoying dinner together every Sunday. The right plan means we can enjoy retirement and still leave a financial legacy behind to take care of our family, even after we’re gone. We want to be there for our loved ones, and ultimately, that’s what life is all about.

– Adam Wolf, CPA, CFP ®

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A Celebration of Hard Work The History of Labor Day

Labor Day didn’t become a federal holiday, though, until a few years later. In 1894, the American Railway Union went on strike against the Pullman Company in what is now known as the Pullman Strike. President Grover Cleveland called in the Army and U.S. Marshals in an attempt to break the strike, and several workers in Chicago lost their lives. In an effort to quell tensions and garner union vote support, President Cleveland signed Labor Day into law just six days after the strike ended. Our country would not be what it is today without the immense effort of laborers. As you enjoy the last long weekend before fall, take a moment to acknowledge just what a difference these hardworking people make.

unions sprang up as a way to protect the rights of the common laborer. Workers in Canada didn’t fare quite so well because unions were illegal. In 1872, workers marched directly to the door of Canadian Prime Minister John Macdonald, demanding the right to organize. He relented, and the march became a Canadian tradition. As for who brought the tradition to our country, there are two competing candidates. Peter J. McGuire, a carpenter and member of the American Federation of Labor, witnessed the celebrations in Canada and proposed a similar parade to New York City’s Central Labor Union in 1882. That same year, machinist Matthew Maguire proposed a national Labor Day after a public demonstration by the Central Labor Union.

Americans work hard, and on the first Monday of every September we take a moment to acknowledge their efforts. Labor Day has

a fascinating history, and one that you might not expect.

The roots of Labor Day

stretch back to the Industrial Revolution, when jobs became plentiful, but not without a cost. As conditions worsened and work days grew longer,

Big Things to CELEBRATE at Wolf Retirement

TOP OF THE CHARTS Jacksonville Business Journal recently released their “2017 Book of Lists,” and we are proud to announce that Wolf Retirement Navigation ranked among the top Certified Financial Planner professionals. JBJ’s list isn’t a “pay-to-play” ranking; it’s the real deal. We’re honored to land a spot at number 24 and plan to continue providing great service into the future. SET YOUR DVRS Looking for something to watch while you enjoy your coffee Sunday morning? We are excited to announce that Adam will be starting a new TV show on CBS Sunday Morning News. You can catch “The Sunday Morning Money Report,” on Sunday mornings at 9 a.m., starting September 17. Set your DVRS to channel 47 for your financial news and retirement tips in just two minutes.

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WHEN THE GOING GETS TOUGH, HANG IN THERE?

works if a retiree already has safeguards in place for principal protection and reasonable growth potential.

The stock market couldn’t be better. We’ve spent almost nine years in a bull market, the second longest upswing in the history of the stock market. It might feel like the good times will never end, but remember every seven to 10 years since the Great Depression, stock markets have made large corrections. Basically, we’re overdue for market corrections. When that downturn inevitably arrives, many people may panic and look to their financial advisors for answers.

These safeguards include structuring your portfolio based on tactical asset management to help limit losses in bad times — with growth during the good times — having a portfolio monitoring system in place for market-based accounts to help protect gains against worst-case scenario losses; using fixed and/or fixed indexed annuities for 100 percent principal protection, reasonable growth potential, and/or guaranteed income that one cannot outlive, to name a few. There is no one-size-fits-all approach to retirement planning. The best advice for your future requires the following traits in your financial advisor. Your advisor should focus on retirement. Successful planning in retirement takes a different skill set than accumulating your savings takes during your working years. More importantly, you want to work with a financial fiduciary, someone who is legally required to put your interests before his or her own pocketbook. If you ask your financial advisor if he or she is a fiduciary and the answer is “no,” what the advisor is saying is he or she is under no obligation to act in your best interests. “Hang in there” shouldn’t be where the advice ends. When the market dips, you want your advisor to say, “Hang in there because there are specific safeguards that will protect your plan.”

“Hang in there,” financial advisors everywhere will declare. “Just stay the course. The market will always bounce back.”

While the market does recover, riding out the storm isn’t the best advice for everyone. In your working years — the accumulative phase of building your retirement plan — when the market dips, there’s time to recover. However, for retirees and those close to retirement, a bear market can mean reducing or losing retirement income or delaying retirement altogether. “Hanging in there” only

THANK YOU!

Watch Adam LIVE Mondays on Channel 4 at 11:00 a.m. and on the CW at noon and Tuesdays at 7:00 a.m.

Every day, we’re grateful to our clients who continue to trust us as we help them navigate the road to financial security. It means a lot when you introduce your friends and family to us so we can help them too! This month, we offer our special thanks to: Vickie D. Susie E. Barbara C.

Watch Adam every Tuesday at 11:00 a.m. and 2:00 p.m. on Channel 12.

Be sure to visit our website at wolfretirement.com

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904-232-8760 www.wolfretirement.com 4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224

INSIDE

• What ‘Back to School’ Means to a Dad PAGE 1

• A Celebration of Hard Work PAGE 2

• Breaking News! PAGE 2

• Should You ‘Hang in There’ When the Market Dips? PAGE 3

• Thank You for Your Referrals PAGE 3

• The Museum of What? PAGE 4

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The Museum of What?

The World’s Strangest Museums

The Museum of Bad Art Dedham, Massachusetts

Everyone knows the Louvre and the Smithsonian, but you might be surprised to learn about some of the stranger museums around the world. For nearly every passion, there is a building somewhere dedicated to it. Take a look at some of the weirdest.

There are plenty of museums dedicated to exceptional artwork from history, but only one dedicated to less successful artistic endeavors. The Museum of Bad Art, or MOBA, promotes itself as the home of “art too bad to be ignored.” A trip to MOBA will leave you smiling, laughing, and feeling a little better about the fact that you’re not Picasso.

wilder examples from around the world, you can even design your own packaging. Bring along some chopsticks, as there are plenty of samples to slurp up.

Sulabh International Museum of Toilets Delhi, India

The Kansas Barbed Wire Museum Rush County, Kansas

A functioning toilet is something everyone takes for granted until they don’t have access to one. In India’s capital, you can explore the fascinating history of commodes. Divided into three sections — ancient, medieval, and modern — you’ll be shocked at how much you can learn about history and culture through an examination of the ways a society flushes (or doesn’t).

Momofuku Ando Instant Ramen Museum Osaka, Japan

Plenty of museums are hands-off, but that’s usually to protect the precious objects held within. At the Kansas Barbed Wire Museum, not touching the exhibits is just sound advice. The development of barbed wire was instrumental in settling the American West, and this museum pays tribute to its invention and evolution.

It’s not just college students who love ramen. Since the invention of the instant noodles by Momofuku Ando in 1958, ramen has evolved into a beloved dietary staple from Japan to Jamaica. In addition to viewing some of the

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