Retirement Planning Strategies- May 2019

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MAY 2019

HEALTHY, WEALTHY,

&Wise

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

A Journey Out of My Comfort Zone AND INTO ANOTHER WORLD

Earlier this year, I had the chance to visit Cuba for a week to take part in a medical mission trip. “Wait,” you may be asking, “Are you a doctor as well as a financial planner?” While I’m definitely not a doctor, and I don’t have any medical experience to speak of, that didn’t stop me from contributing in whatever way I could. My role on the trip was as a team leader, so my organizational skills were put to good use. I did the trip through International Medical Relief, which is run by my old friend Shauna King. I sit on the board largely because I’ve been there since day one. Over the years, I’ve traveled to many distant locales. While I’m not providing medical and dental services directly, I like to think my efforts help the expert teams deliver care to as many people as possible. And just as exciting as the work itself is the chance to experience another culture firsthand. Never has the difference been more apparent than during our trip to Cuba. I’ve never been anywhere quite like Havana. In some ways, it’s like the city exists in two different eras. On one end of the spectrum, there are scores of old buildings

that haven’t been updated in decades. Everywhere you turn, you see laundry lines full of clothes blowing in the breeze. Despite this antiquated washing method, many people wear sparkling white shirts. How they are able to keep them so clean, I’ll never know. of other nations. As I’m sure you know, Cuba is one of the only countries that was “hermetically sealed” for a large portion of the 20th century. Ever since the Kennedy administration, there had been an embargo between the U.S. and Cuba. Today, relations with the U.S. are still tenuous, but the Chinese have significant investments there. With a decreasingly communist and increasingly capitalist China pouring money into the island, it’s impossible to predict what the coming years will bring. Although I grew up in a capitalist environment, I can still see the pros and cons of an alternative system. I consider it a positive to be somewhere free of excessive advertising. Also, it doesn’t seem like there’s much pressure for Cubans to On the other end, you have a country slowly opening up its walls to the influence

keep up with the Joneses. The negatives, however, are much more important to me. Consumer choice is minimal and Cuba is behind the times in so many ways. It’s nearly impossible to improve your station or provide a better life for future generations. While it was wonderful to step into a different country, you won’t find me pining for the end of capitalism anytime soon. More important than the differences in lifestyle, though, are the similarities that connect all humans. Meet people from anywhere, and you’ll quickly realize you have things in common. We all pine for a better life, and we all need a hand in getting there. To be able to lend that hand, if only for a week, is something I never take for granted. I urge you to ask yourself how you can make a difference in the lives of others this year. As my experience shows, it doesn’t have to relate to what you do for a living. Sometimes, you’ll even find that stepping out of your comfort zone makes the effort all the more worthwhile.

–Ann Vanderslice

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Leaving a Legacy of Giving Your estate plan is far more than just a set of documents. It’s a declaration of what you find most important and a roadmap of the legacy you’d like to leave. Not only does a proper estate plan ensure that your loved ones will be taken care of when you’re gone, but it also allows you to make an impact on the wider world through charitable giving. Many avenues exist for making planned gifts to nonprofits, but here are some of the basics on how to make giving a part of your plan.

MAKING CHARITY A PART OF YOUR ESTATE PLAN

charities may specialize in specific assets. For example, if your home is considered a historic site, you may want to gift it to a preservation society so that it stays properly maintained. DECIDE HOW TO GIVE There are different ways to structure a charitable bequest, giving you the flexibility to make sure your estate planning goals are met. If you have a set sum of money or a particular asset you wish to leave to a charity, you can make a specific bequest in your will. However, if you want to ensure your loved one’s needs are met before giving a portion of your estate to charity, you can make what’s known as a residuary gift. With a residuary gift, once debts have been paid off and your other beneficiaries have received their bequests, a specified percentage of your remaining estate will go to a charity of your choice. OTHER AVENUES Depending on your income level and the kinds of assets in your estate, more complex means of making a planned gift may be available to you. Talk to your estate planner to see if creating a charitable trust or establishing a foundation is the right move for you.

NAME A CHARITY IN YOUR WILL The most basic way to give to a charity is by naming it in your will. Simply name the charitable organization you wish to support among your beneficiaries, and specify the assets you wish to give. If estate or income taxes are a concern, ensure your chosen organization is a 501(c)(3) nonprofit. These are the charities the IRS deems tax-exempt. MATCH THE ASSETS TO THE CHARITY Almost all charities will accept cash bequests, though it is always a good idea to notify an organization about what you are planning to give. Smaller philanthropic organizations may not accept complex assets, such as stocks or real estate. On the other hand, some

MEET VIRGINIA BAERMANN

Our New Client Services Specialist

On the government side of things, Virginia is a proud veteran who served in the Army. Prior to joining us, she worked for a financial services provider. That experience makes her uniquely qualified to understand our clients’ needs. It has also allowed for a smooth transition into her new role. “It’s wonderful to be helping people in the public sector,” Virginia says. “On top of that, everyone here is incredibly positive and friendly. It’s a wonderful environment in which to work, and I’ve been warmly welcomed since day one. I really appreciate the effort everyone has put in to make me feel at home so quickly.” On a daily basis, you can find Virginia answering phones, scheduling appointments, and performing a slew of administrative tasks. She helps keep us honest and makes sure we’re running like a well-oiled machine. She’s also the friendly

face greeting our clients when they arrive at the office. “I’m really enjoying my new role,” she notes. “It’s a chance to do a little of everything, meet a ton of wonderful people, and make a real difference.” Outside of work, Virginia stays busy by participating in a “huge range” of activities. “I ski, snowshoe, backpack, camp, waterski, play tennis, and more,” she reveals. “No matter the season, you can find me outside enjoying the scenery and staying active.” That level of energy also serves her well at work, where she never fails to bring a cheery disposition and passion for her job. We are so happy to welcome Virginia Baermann to the RPS family. Please be sure to say hello to her the next time you’re at our office.

Virginia Baermann recently joined the team at Retirement Planning Strategies to serve as our new client services specialist. She’s only been with us for a few months, but she already feels like part of the RPS family. Perhaps that’s because Virginia has experience in both the federal and financial spheres.

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Clubs: Not Just for High School THE BEST WAY TO STAY ACTIVE IN RETIREMENT

GET INVOLVED Think of the causes you’re passionate about and get involved! Animal shelters and soup kitchens are always looking for volunteer help. Book lovers of all ages can join their local Friends of the Library chapter. To make a difference through politics, help with fundraisers or join an active campaign, or become more involved in your local homeowners association. There are plenty of ways to engage with like-minded people while making a difference. TRY SOMETHING NEW Don’t know where to start when looking for a group to join? Start online. Try searching “groups for retirees” and see what comes up. You might discover a travel group and start planning your next trip. Or maybe you’ll have more fun mentoring young people in your professional field. Don’t be afraid to spend your retirement doing something new! There’s nothing wrong with enjoying your alone time, but don’t let it turn into a lonely retirement. Joining a group can help you broaden your social circle, stay active, give back, and maybe even learn something new about yourself.

While it’s great not having your nose to the grindstone nine-to-five, leaving work also means leaving behind a lot of daily activities and social interaction. Eventually, having nothing but free time has a tendency to go from relaxing to isolating, and that can be dangerous to your physical and mental health. When planning for retirement, it’s important to plan ways to stay active and engaged. Joining a new organization or club can be a huge benefit. Here are a few suggestions to help you stay active in retirement. ENJOY YOUR HOBBIES Did you spend years dreaming about hitting the golf course every day? While it can be nice to spend some time alone on the green, consider joining a golfers club if you want to mix things up. Enjoy scrapbooking? Check for get-togethers at the craft shop. If you’ve always wanted to try pottery, look for a class at the rec center. It’s easy to find groups dedicated to just about any activity.

Inspired by SeriousEats.com Classic French Omelet INGREDIENTS

Train Your

BRAIN!

• 3 large eggs • Kosher salt and freshly ground white or black pepper • 1 tablespoon unsalted butter

DIRECTIONS

1. In medium bowl, beat eggs with disposable plastic fork until last traces of white are just mixed in. Season with salt and pepper. 2. In an 8-inch nonstick skillet, melt butter, swirling over medium heat until foamy but not browned. Add eggs, stirring rapidly with fork, tips of tines up, while moving skillet to agitate eggs. Ensure all curds are broken up, scraping from bottom of skillet as they form. Stop stirring as soon as eggs are very softly scrambled and creamy (but still loose enough to come together into a single mass), 1–2 minutes. 3. Using fork, gently spread egg in an even layer around skillet and scrape down any wispy bits around the edges. The top surface should be loose and creamy, but if it looks too liquid and raw, cook undisturbed for another few seconds. If still liquid, swirl skillet to bring raw egg to the edge where it will set more quickly. 4. Remove from heat. Tilt skillet up by handle. Using fork, gently roll omelet down over itself until nearly folded in half. Using fork, push omelet to edge of skillet so that lower edge of egg just begins to overhang. Use fork to fold overhanging edge of egg back over, closing omelet. 5. Turn omelet out onto plate. It should be either almond- or cigar-shaped, seam on bottom.

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issue INSIDE THIS What I Learned by Visiting Cuba PAGE 1

Making Charity a Part of Your Estate Plan PAGE 2

Spotlight on Virginia Baermann PAGE 2

Which Club Is Right for You? PAGE 3

How to Travel Sustainably PAGE 4 GO GREEN Vacations can come at great expense, and not just for your bank account. According to a 2018 study published in Nature Climate Change, travel accounts for eight percent of all global greenhouse gas emissions. There are many opportunities to do your part to lessen these emissions by traveling sustainably. TRAVEL GREEN When possible, trains, hybrid buses, and carpooling are great alternatives to larger, more environmentally intrusive travel methods. Large cruise liners are detrimental to oceans, and airplanes emit large amounts of toxins into the air. However, you can cruise and fly with the earth in mind. Some cruise lines are working to reduce their impact by installing more eco-friendly lighting and materials, and flight experts recommend using “green” airports, choosing fuel-efficient airlines, staying longer, and traveling less. What a great excuse to extend your vacation! STAY GREEN Where you stay impacts the environment as much as how you get there. Hotels use copious amounts of water for bathing and laundry,

Get Out There With These Eco-Tourism Tips

and they struggle to reduce energy because many guests leave their lights and televisions on. However, many luxury resorts, woodsy cabins, and even entire countries have opted to make eco-tourism easier. If you’re looking for a region of the world committed to preserving nature, look no further than Iceland, Finland, and Sweden, which are ranked the three most environmentally friendly places in the world. DO GREEN Man-made attractions like the Egyptian pyramids and Machu Picchu are some of the world’s greatest wonders, but Earth itself is pretty breathtaking. Check out natural attractions while hiking or camping in preserved forests, or soak up all the Caribbean has to offer by snorkeling, scuba diving, sailing, kayaking, canoeing, paddle boarding or just walking. When you’re mindful of your surroundings and remain unobtrusive, there are endless outdoor activities you can explore. Some locations even partner with environmentally conscious organizations with whom you can donate or volunteer.

Opt for a green vacation and know that while you relax, the earth is getting a little relief too.

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