Retirement Planning Strategies - February 2021

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FEBRUARY 2021

HEALTHY, WEALTHY,

&Wise

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

NO MORE HORSE-AND-BUGGY A Year Later, What’s Changed?

I’m trying not to say “the new normal” to myself these days, but it’s hard to consider the effects of the pandemic one year later without those words coming to mind. Twelve months ago, we were just starting to realize that the COVID-19 virus was going to spread around the world from its origin in China. What we didn’t know was how serious the virus would be. Instead of another SARS or swine flu scare, we have all been affected by the most dangerous pandemic in a century. I don’t want this to be our “new normal,” and yet there’s no denying things have changed. If we can roll with these changes and still be thriving next year, I’d call that a victory. As much as I dislike the “new normal,” I admit it’s better than people talking about “getting back to normal.” As nice as that would be, “normal” has changed. There’s

no way to return to the pre-pandemic days and no way to know exactly how the disease will affect us in the years to come. But that doesn’t mean we don’t already know some of the ways “normal” has morphed, likely for good. Back in the day, no one talked about improving the horse- and-buggy after the automobile emerged in the 1920s. So, we need to accept the changes we can’t fight, even as we pine for “the good old days.” Not all the changes are bad. The ability to work from home — or work remotely from anywhere — has improved by leaps and bounds in the past year. Not only does this allow people to move closer to family or to travel more freely in the future, but it also frees up a lot of money in budgets that goes toward office space. The federal government is going to take advantage of that and the private sector has already begun. Delivery services, too, have found their niche during the pandemic. And our ability to receive and send documents is limited only by the devices that surround us at any moment, meaning we can sign, print, and scan without heading to the office or the nearest print center. Generally, the changes that make life easier will stick around after COVID-19 has passed into history, like online shopping has. Remember just a few decades back when many said nobody would ever give up browsing goods in person?

Rest assured, some of the best things in life are poised to return once it’s safe to do so. Travel will spring back without a doubt. Dining out will resume, which means you can treat that special someone in your life to a long-deserved date night, or go out with friends for wine and appetizers, or even host a party. And if you’re a fan of music or other live entertainment, the disappointments of the past year won’t go on forever. All of these things will return, even if they’re still a bit down the road right now. While we wait, I’ll keep reminding myself it’s not “the new normal,” just as Ford cars weren’t “the new normal” in the 1920s. They were just normal , with no going back to the horse-and-buggy. Our new technology and the ways we’ve adopted and adapted it can do a lot of good. I’m ready to embrace those changes. One thing the pandemic has proven is that you don’t have to live in our metro area — or even Colorado — to have access to an experienced federal retirement planner who has your best interests at heart. At Retirement Planning Strategies, we’ve expanded our virtual capabilities and we can help you no matter where you are.

–Ann Vanderslice

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Don’t Get Caught Napping!

FEBRUARY IS THE PERFECT MONTH TO PREPARE TAXES

We all know what Ben Franklin said about death and taxes, but just because they’re inescapable doesn’t mean they can’t be cleverly managed. Many Americans wait until the week — or day — before Tax Day to file, but you can be the exception and have yours finished far in advance. There are good reasons this year to get them completed early, more so than in years past. And no matter what, it’s a great feeling to not have to worry about them anymore. This year Tax Day returns to an April 15 deadline. As you may remember, last year the deadline was pushed far into the summer to make things easier while people coped with the onset of the pandemic. Don’t expect the same policy twice in a row. Even if we’re having a rise in COVID-19 cases at the moment, all signs indicate that you’ll have to do your taxes on time in 2021. Interestingly enough, the pandemic itself provides a good reason to make sure 2020’s taxes are filed as soon as you can. For some people, the COVID-19 relief checks are going to be tied to their adjusted gross income. We’re not sure exactly how this is going to

shake out, with many individuals not having received their second check and the jury still out on the third, but there’s a distinct possibility that both will be tied to your tax filings. Similarly, if you didn’t get the first check last spring due to making too much money, but your actual income fell short of that ceiling, you can get the first relief check when you file your 2020 taxes. Because retirement looks a little different for everybody, some readers may be waiting on a W-2 or 1099 from an employer to begin the annual preparation process. These documents should be in the mail very soon, if they haven’t already arrived. If you’ve not received yours, never feel uncomfortable calling and asking for them — it’s the business’s duty to provide them on time so you can get your taxes completed on time. Are you ready for Tax Day? There’s no reason you can’t be. Don’t be caught napping and call Retirement Planning Strategies with any questions about how taxes will work in your own retirement.

WARM UP TO THESE SMALL PROJECTS

For Better Home Insulation

Are you feeling a draft, even when you’re nestled on the couch? Even though good home insulation is important every part of the year, chances are you notice its absence much more in winter months. But before you call in a construction crew to tear down your walls and reinforce your insulation, try these simple, budget-friendly ways to keep heat inside your home.

the floor and door is wide, you can double up on weatherstripping. Plus, it can be easily removed when necessary!

INSTALL THICK CURTAINS OVER YOUR WINDOWS. If you have drafty windows, invest in some thick curtains. Thin curtains are great when the weather is warmer, but a good set of heavy curtains will keep the heat from escaping. For added insulation, you can also find curtains with thermal liners. However, if saving money is more important than aesthetics for you, you can also insulate your windows by blow-drying some plastic wrap onto the windows to fill any openings. KEEP UP WITH YOUR HVAC MAINTENANCE. Maintaining your HVAC system means changing out filters once a month, cleaning ducts regularly, and watching for leaks in the air duct system. (Some key indicators of leaks are higher energy bills during the summer or dust accumulating more in one room than in others.) You can also maintain your HVAC system by simply moving furniture out of the way of vents so it can disperse heat more equally throughout your home. The cold may be sticking around for a while longer, but with some proper insulation, you won’t have to be reminded of that when you’re indoors, all while saving a pretty penny.

WEATHERPROOF YOUR DOORS. If you can feel chilly air coming through the opening between the bottom of your door and

your hardwood floors, putting foam or rubber weatherstripping

at the base of your doors can stop the cold air from getting into your home and circulating through every room. Even if the space between

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Money Scams Are Skyrocketing

HERE ARE 3 WAYS TO PROTECT YOURSELF RIGHT NOW

Scammers have found a new way to get your attention and fleece you. As a result of COVID-19, federal financial relief efforts, and state- level relief efforts, scammers have found a few new ways to get into their victims’ pockets. Now, they’re using COVID-19, again, this time with the “vaccine scam.” Through this scam, they’ll sign you up for the COVID-19 vaccine in exchange for a fee. They are also using variations of the grandparent scam, in which scammers pretend to be a family member in trouble (this time they have COVID-19 or have lost their job due to the pandemic) and they need money. Scammers make phone calls, send text messages, and craft phishing emails, hoping you’ll take the bait.

also trying to scam you. Never say a word back to them. Cut them off and go about your day.

2. Sign up for Informed Delivery by USPS. This free service is a great way to monitor your incoming mail. Every morning, USPS sends you an email with scanned images of the day’s mail (this doesn’t usually include larger parcels). When you pick up your mail later in the day, you can verify if anything is missing. Scammers may prefer phone calls, but mail thieves are still very much on the prowl. 3. Sign up for an identity protection and fraud detection service. You never know who might end up with your personal information, but you can take steps to keep it safe. There are several services, like LifeLock, Identity Guard, and Intelius Identity Project, that offer comprehensive identify protection. They monitor credit cards, addresses, phone numbers, bank accounts, and more with the purpose of scoping out unusual or fraudulent behavior. Many services can be customized to fit your specific needs. This pandemic may be lulling many people into complacency, but know that there will always be people who want to scam you by any means. For your own health, keep safe and vigilant from the virus and scammers as well.

How can you protect yourself from these financial scams and more? Try these three different ways!

1. Shut them down. If you get a call from a scammer, hang up immediately (better yet, don’t answer unknown callers at all). At the same time, delete scam texts or emails the second you see them. If you get a call, text, or email from someone claiming to be with the government or a government agency, it’s a scammer. No one from any federal agency will ever call you out of the blue. Anyone claiming to have a cure or pretending to be in desperate need of money is

BRAIN! Train Your

Butter and Herb Baked Oysters

Inspired by TheSpruceEats.com

INGREDIENTS

• 3/4 cup panko breadcrumbs • 2 tbsp fresh chives, chopped

• Rock salt or uncooked rice (to coat your baking sheet) • 1 dozen fresh oysters, scrubbed and shucked • 1 stick butter, softened and divided into 8 tbsp

• 1 tbsp lemon juice • 1 tsp lemon zest • Lemon wedges and chopped parsley for garnish 5. In a small bowl, combine remaining butter, chives, lemon juice, and zest. 6. Top each oyster with a teaspoon of chive mixture and a sprinkle of sautéed breadcrumbs. 7. Bake for 8–10 minutes and serve garnished with lemon wedges and chopped parsley.

DIRECTIONS

1. Preheat oven to 425 F. 2. On a rimmed baking sheet, spread out a layer of rock salt or uncooked rice. 3. Arrange oysters on the baking sheet, meat side up. 4. In a skillet over medium heat, melt half of the butter. Add breadcrumbs and sauté until brown.

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Give us a call! 303-922-4304 www.AnnVanderslice.com FAX: 303-416-4358 Hours: 8 a.m. to 5 p.m. M–F

303-922-4304 • www.annvanderslice.com

PO Box 260787 Lakewood, CO 80226-0787

This does not constitute an offer to buy or sell any security. Investments in securities are not suitable for all investors. Investment in any security may involve a high degree of risk and investors should review all "Risk Factors" before investing. Investors should perform their own due diligence before considering any investment. Past performance and/or forward-looking statements are never an assurance of future results. Investment products, Insurance, and Annuity products are not FDIC Insured/Not Bank Guaranteed/ Not Insured by any Federal Government Agency/May Lose Value. Securities offered through Cabot Lodge Securities, LLC, (“CLS”) member FINRA/SIPC. Advisory services offered through CL Wealth Management LLC, (“CLW”) a SEC registered Investment Advisor. Cabot Lodge Securities, LLC and CL Wealth Management, LLC (“CLW”) are affiliated entities. Retirement Planning Strategies is not controlled by or a subsidiary of CLS or CLW and is an unaffiliated entity.

issue INSIDE THIS No More Horse-and-Buggy PAGE 1

Will Tax Day Catch You Napping? PAGE 2

A Few Ideas to Better Insulate Your Home PAGE 2 Protect Yourself From COVID-19 Scams! PAGE 3 The Deadly Revenge of 17th Century Chocoholics PAGE 4

THE ORIGINAL DEATH BY CHOCOLATE 17th Century Chocoholics Get Revenge

How much do you love chocolate? Would you be willing to die for a taste of your favorite confection? Would you kill for one? You’ve probably never thought to ask yourself these questions, but if tall tales can be believed, arguments over chocolate have, in fact, turned deadly.

Surprisingly, this crazy story isn’t the origin of the “death by chocolate” cake we love today. That dessert was created in 1993 by Chef Marcel Desaulniers, then-owner of The Trellis restaurant in Williamsburg, Virginia. Here’s the restaurant’s mouthwatering description of the seven-layer confection, which takes three days to make:

National Dark Chocolate Day and National Chocolate Fondue Day both fall during this month (on Feb. 1 and Feb. 5, respectively), and in honor of those tasty holidays, we investigated the original “death by chocolate” — an act of legendary revenge.

“The decadence begins with layers of moist chocolate cake, dark chocolate ganache, crunchy chocolate meringue, and an airy chocolate mousse. The cake is then coated in a glaze of dark chocolate and served on a pool of chocolate sauce with house-made milk chocolate ice cream, topped with a hand-rolled white chocolate truffle, and finally dusted with white chocolate powder.”

Rumor has it that the controversy started in the 1600s in Chiapas, Mexico, when a group

of chocoholic churchgoers started bringing their favorite sweet snack to services. This annoyed the bishop, who resorted to banning parishioners from eating chocolate during his services. As an article in Indian Country Today tells it, the chocoholics got back at the bishop by poisoning his daily cup of chocolatl , an Aztec chocolate drink. Who knew the ancestor of hot cocoa could be so deadly?

Is your mouth watering yet? The original version of death by chocolate might be a bit complex for the average chef, but if you’re craving a slice, you can find more accessible recipes at Delish.com and SugarGeekShow.com. Just remember that we don’t live in the 1600s, so you should probably restrain yourself from poisoning anyone who steals a bite!

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