Retirement Planning Strategies February 2019

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FEBRUARY 2019

HEALTHY, WEALTHY,

&Wise

1 Denver Federal Center Building 45, Entrance E-9, Room 1050 Lakewood, CO 80225

A Year-End Adventure HOW I CLOSED OUT 2018

Over the years, I’ve been astonished by the stories our clients share. Many of them undertake truly incredible things after they’ve retired, and we’ve featured several of their stories in this newsletter. While everyone approaches their post-career life a little differently, I’ve noticed that one type of experience shows up again and again: travel. Whether skiing with the blind in Norway, riding motorcycles across the United States, or exploring Gaudi architecture in Barcelona, visiting a new place seems to be one of the most rewarding experiences you can have. Inspired by our wonderful clients, I decided to plan a trip of my own. I took the advice offered by so many travelers to go somewhere that would be special to me. In my case, it was a river cruise down the Danube through parts of Germany and Austria. It’s a part of the world I’ve always wanted to visit, and we decided to go in December to have the opportunity to experience the one-of-a-kind Christmas markets in that part of the world. Full disclosure: I’m a Christmas fanatic, so that was a major impetus for our trip. After securing passage on a Viking Cruise, we packed our bags and headed to Germany. The trip began in Nuremberg,

which is home to the world’s largest Christmas market. You’d think that would be a recipe for a great start, but I have to admit that it wasn’t. Like many events in the “biggest in the world” category, the market of Nuremberg was bloated, commercialized, and not all that magical. It was a bit dispiriting, but we didn’t let the disappointment affect our expectations for the rest of the trip.

with energy; it’s the birthplace of Mozart and the setting of “The Sound of Music.” The Christmas market was the best we encountered, with endless rows of sellers peddling wares you can’t find anywhere else. We returned to the ship that night with full bags and tired arms, but it was more than worth it. wine, and visited many culturally and historically important sites. In terms of timing our trip, we were incredibly lucky because we were the first guests in a long time to navigate the Danube without needing to transfer boats. We had been told that a transfer was going to be required, so it was a pleasant surprise to hear otherwise just days before we were due to embark. I don’t always get to travel as much as I’d like, but I’m hoping to make it more of a priority in 2019. I guess you could say I’ve gotten the bug — the same one that affects so many of our clients. But unlike the other bugs many of us get this time of year, this is one I hope will stay in my system for as long as possible. –Ann Vanderslice The trip wasn’t all about markets, though. We ate delicious food, drank awesome

Soon enough, we discovered what we’d been looking for. As we traveled into Austria, we encountered town after town — each more charming and festive than the last. All of a sudden, we were no longer in marquee tourist towns and finally had the chance to experience the authentic culture. Salzburg, in particular, filled me with joy and wonder. Salzburg pulses

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Strength of Mind

TIPS TO KEEP MEMORY SHARP AND IMPROVE COGNITIVE FUNCTION

GET PHYSICAL Taking care of our physical health has also been shown to help brain function. According to a study by Sydney University in Australia, aerobic exercise is particularly good at jogging our memory. The researchers note that “aerobic exercise acts by preventing the usual decrease in neurogenesis associated with aging, thus resulting in greater retention of neural matter — particularly in the hippocampus.” In short, exercises like swimming and running keep the part of our brain responsible for memory from shrinking. SPEND TIME WITH FRIENDS AND FAMILY Humans are social creatures. Many studies have shown that being a part of a supportive social group can significantly benefit our physical and mental health. In fact, the American Journal of Public Health reports that people who have daily contact with friends and family cut their risk of dementia and mental impairment almost in half. Our mental diaries may be longer and fuller than they were in Wilde’s day, but if we fill those pages with hobbies, exercise, and close friends, our memories will remain sharp and vivid for the rest of our days.

Irish poet Oscar Wilde once called memory “the diary that we all carry about with us.” Of course, in Wilde’s time, the average life expectancy was less than 50 years old. As modern medicine

continues to enable people to live longer, these “diaries” tend to become muddled. Fortunately, there are ways to counteract the natural dulling of our memory that comes with time.

PUZZLE YOURSELF Just like any other muscle, our brain needs workouts to stay strong. As Dr. Celeste Robb-Nicholson of Harvard Medical School writes, “Challenging your brain with mental exercise

is believed to activate processes that help maintain individual brain cells.” Activities like solving puzzles, learning a musical instrument, or picking up a new hobby work wonders to keep your mind active and your memory sharp. These mental exercises are especially important after retirement often to make up for the loss of stimulating challenges that work used to provide.

HOW TO GET MORE FROM YOUR GLASS

Tips for Wine Enjoyment and Appreciation

Robert Louis Stevenson once described wine as “bottled poetry.” It’s a great description because it demonstrates what makes wine simultaneously special and delicious. For whatever reason, many people view the wine world as something with a high barrier to entry. Nothing could be further from the truth. “People

don’t explore, you will never truly know what you actually like. Far too many people stick to only California Cabernet and New Zealand Sauvignon Blanc because they think that’s what they’re supposed to enjoy. However, the wine world is bigger and more varied than ever before. Take the time to explore as much of it as you can. As a bonus, traveling off the beaten path will give you a chance to taste world-class wines at a fraction of the cost of their more celebrated counterparts. BE MINDFUL OF TEMPERATURE “It’s sadly an article of faith that many restaurants, and homes for that matter, will serve white wines too cold and red wines too warm,” writes New York Times wine critic Eric Asimov. In general, the more complex a wine, the closer to room

temperature you want to serve it. You may actually want to serve an unctuous white like Burgundian Chardonnay at a warmer temperature than you would a gulp-able light-skinned red. Tinker with serving temperatures and find what works best for a given wine rather than following some pre-prescribed rules. DRINK FOR ENJOYMENT Wine can be profound, yes, but it’s mostly just delicious. Don’t let anyone browbeat you into drinking anything other than what you enjoy. If you want to have a German Riesling with a steak, go ahead and do it. Life is too short to follow anyone’s “rules” for enjoying wine. Look to experts for guidance and suggestions, but let your palate be your ultimate guide.

should have fun with wine,” says sommelier Andre Hueston Mack. Here are some tips that will allow you to do just that.

EXPLORE A WIDE VARIETY An oft-repeated refrain when it comes

to wine is “I don’t know much, but I

know what I like.” The problem with this line of thinking is that if you

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Embracing ‘Spendophobia’

3 WAYS TO INVEST IN YOURSELF AFTER RETIREMENT

You’ve spent your entire life being told to save, save, save. Now you’re finally retired, so it’s time to spend some of that money — but you’re scared! This is only natural because it means breaking a lifelong habit of socking away money and refusing to touch it. You’re not alone. A recent study of retirees’ spending habits showed many people actually spend less than they can afford. They’re scared of the “what ifs” that come with living on a fixed income. However, at age 70 1/2, you have to start taking the required minimum distributions (RMDs) from your traditional IRA and 401(k) whether you want to or not. Instead of stressing over the fact that you’re pulling money out of these accounts, embrace the opportunity to do something for yourself. TRAVEL It can be tempting to hold off spending money as long as possible. After all, who knows how long you need your savings to

last? Travel, however, is one thing you can indulge in early without feeling guilty. Even the most leisurely trips can be physically demanding, so it’s better to see the world at 70 rather than wait until you’re 90. To keep yourself on track financially, use the bucket system to set up a separate savings account just for travel. INVEST IN YOUR HOME Once you no longer have to work five days a week, you’ll be in your home more often, so why not make it amazing? An in-ground pool or a private tennis court might be outside your budget, but new kitchen countertops or a deeper tub will add a touch of luxury to the space in which you spend the most time. Upgrading your home is almost always a good investment because it adds equity, which will pay off down the road. That extra cash will come in handy if you decide to sell later on to downsize or you plan to enter assisted living. Don’t forget to set aside money for

ongoing maintenance, such as a new water heater or roof repairs.

GO BACK TO COLLEGE It might sound counterintuitive to go to college when you’re not planning to go back to work, but continuing your education after retirement offers many benefits. Many individuals find themselves with more time on their hands than they’re accustomed to, and without a plan to fill this time, it’s easy to become depressed or isolated. Numerous studies have shown that continuing to exercise your brain has a positive impact on cognitive function, so taking a few classes can be the perfect way to stay busy and keep your mind sharp. Attending school late in life is also a great opportunity to indulge your passions and learn more about subjects in which you’ve always been interested. Many colleges offer free classes or reduced tuition to seniors, so check with your local schools and see what classes or programs they have available.

Train Your

BRAIN!

• 6 egg yolks • 3 tablespoons sugar • 1 pound mascarpone cheese • 1 1/2 cups strong espresso, cooled Tiramisu INGREDIENTS

Inspired by foodnetwork.com

• 2 teaspoons dark rum • 24 packaged ladyfingers • 1/2 cup bittersweet chocolate shavings, for garnish

DIRECTIONS

1. In a large mixing bowl, use a whisk to beat together egg yolks and sugar until thick and pale, about 5 minutes. 2. Add mascarpone cheese and beat until smooth. 3. Fold in 1 tablespoon of espresso. 4. In a small, shallow dish, combine remaining espresso with rum. Dip each ladyfinger into mixture for 5 seconds. Place soaked ladyfingers at the bottom of a walled baking dish. 5. Spread half of the mascarpone mixture on top of the first layer of ladyfingers. Top with another layer of ladyfingers and another layer of mascarpone. 6. Cover and refrigerate 2–8 hours. 7. Remove from fridge, sprinkle with chocolate shavings, and serve.

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issue INSIDE THIS Cruising Into 2019 PAGE 1

3 Ways to Improve Your Memory PAGE 2 A Guide to Drinking Better Wine PAGE 2

3 Ways to Invest in Yourself After Retirement PAGE 3

Prepare for an Adventure in Lapland PAGE 4

INTO THE ARCTIC CIRCLE Adventure in Swedish Lapland

If you’re eager for a new adventure in 2019, you’ll

Scandinavians cherish their public lands, and the trail systems are well loved. Hikers and backpackers can enjoy the stunning beauty in both late spring and summer, as well as a chance to see the midnight sun. Because of its far-north location, Swedish Lapland receives close to 24 hours of sunlight from June through early August. Between the boulder fields, mountains, and stunning glacial lakes, hiking here is a treat. While hiking, you may spot reindeer herds or lemmings (a small rodent similar to a hamster) racing around rocks. The Sami people have herded reindeer for thousands of years through this very land. In the summer, keep an eye out for blueberries, lingonberries, and brightly colored cloudberries. Because of the Arctic climate, weather conditions can change quickly from sunshine to rain and heavy fog, so it’s best to dress in layers and bring wind and rain protection if you plan to venture into the backcountry. The fantastic scenery of Swedish Lapland awaits you, no matter when you decide to take your trip. So what are you waiting for?

surely find it in Swedish Lapland. With trail systems that take you into the Arctic Circle, the

northernmost region of Sweden is home to national parks, glaciers, reindeer, the beguiling midnight sun, and spectacular night skies.

Though winters are cold, one benefit of traveling to the region in winter is to catch a glimpse of the night sky. The northern lights are visible from a few remote locations like Abisko National Park, one of the first established national parks in Sweden. Traveling to Abisko is an adventure in and of itself. From Stockholm, the fastest option is to take one of only two airlines that fly into Kiruna, then travel by train to Abisko. Despite the challenge of getting there, adventure-seeking visitors from around the world arrive each winter to experience the Arctic beauty. Winter attractions include ice skating, snowshoeing, and Scandinavian saunas (this last one is a must any time of the year). Befriend a Scandinavian and you might be treated to some pickled herring or even a princess cake, a raspberry-filled dessert covered in marzipan.

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