Wealth From Wisdom April 2018

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April 2018

The Long-Term MINDSET

Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”

Have you planned for the next 10 years? What about the next 20? As you may know, my philosophy toward life rests on six pillars: spirituality, family, health, career, philanthropy,

second quarter of 2018, I’ve turned my attention to my health.

I’m 45, and as I get older and continue to work toward balance, I look for mentors in all areas who are older than me. These are folks who have been around the block and have identified what works for them and what doesn’t. When it comes to the pillar of health, two individuals I’ve learned a lot from are Jerzy Gregorek and his wife, Aniela. Together, they developed “The Happy Body,” a book and health program. The Gregoreks have developed an incredible way of thinking about health and fitness, and their story is just as incredible. The couple immigrated to the United States from Poland in 1986. They were political refugees during the Solidarity movement, a time of political upheaval in Poland. After coming to the U.S., Jerzy won four World Weightlifting Championships. He and Aniela went on to establish UCLA’s weightlifting team. These two are truly a power couple and nothing short of inspiring. This year, my wife and I have been practicing a lot of what the Gregoreks discuss in “The Happy Body.” Jerzy is 20 years older than me, yet he’s more in shape than most 20-year-olds. He’s figured out what’s necessary to live a fit lifestyle. In “The Happy Body,” they discuss flexibility, strength, speed,

leanness, ideal body weight, and good posture — something a lot of people don’t realize is important for good overall health. There’s a story in which an out-of- shape man in his 60s went to Jerzy. The man had very little flexibility. Jerzy laid out a long-term plan for this gentleman. A decade later, the man (who was then well into his 70s) was in extraordinary shape. He could lift his body weight and had completely restored his flexibility. He followed Jerzy’s long-term plan and found success. When it comes to your health, major improvements are not going to happen overnight, over a month, or even over a year. You can accomplish a lot in the span of a year, but think about what you can accomplish over 25 years. True success is found when you take small steps over the long term. You don’t want to just work toward better health for a little while. If you do, you’re likely to slip into old habits. You may find that those long-term goals stay out of reach. Playing the long game comes with a lot of benefits, including the development of positive habits. Even better, though, you can apply the long-term mindset to all areas of your life, such as your career or your finances.

in these six areas, that’s when you’re happiest.

To find balance, however, you have to think in the long term. In a recent article discussing the future of health care, Amazon CEO Jeff Bezos said, “Success is going to require talented experts, a beginner’s mind, and a long-term orientation.” He was talking about what is necessary for change and what is required to find success following that change. I agree with this sentiment. If you look at major players throughout history, you’ll find that they share one common trait: They have a long-term mindset. This is the mindset I’ve adopted. When I plan for the future, I don’t look one year out; instead, I look at the next 25 years. People drastically underestimate what can be accomplished within one year. By the same token, they often overestimate what can be accomplished in 25. Every quarter, I take a look at what is out of balance in my life. I think about each of the six pillars and identify which area isn’t working or which area is being neglected. If one is out of balance, other areas will be affected. Going into the

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A Small Token With a Big Message KINDNESS IS CONTAGIOUS

that these small tokens might make other people feel better, too.

Maybe take the kids for a trek to a nearby park or beach.

Megan’s friend, one of the first to pick up a rock Megan had left behind, sent her an encouraging message after finding it: “If you did drop this rock, you made my day.” Since then, Megan has inspired others with randomly placed messages of kindness. She finds a rock, paints a kind message on it, and leaves it on the beach for others to find. And the idea has spread. As the project has grown, so have people’s stories about finding kindness rocks. When people find a kindness rock, they get a boost to their day, but they also feel inspired to pay the kindness forward.

Once you have your rocks, use nontoxic paint or spray paint to color them. Use bright colors so that others can spot them. After the paint has dried, use paint pens to write your messages on the rocks. These can be as simple as one word or as big as an inspiring quote or verse. After you’ve written your message, use a clear, nontoxic sealant to protect your artwork so it will be there when others find it. Find an outdoor space to leave your rock — maybe even in the original spot you found it. In a world that often seems dark, your message of kindness will serve as a beacon of hope for others. “One moment can change a day, one day can change a life, and one life can change the world.” –Gautama Buddha and long afterward. While tax planning is a common reason to create a trust, family planning, asset preservation, and protection from creditors are among the many reasons people create trusts. Trusts also provide protection for family members who may be unaccustomed to dealing with financial matters or for family members with special needs. They can offer certain protections in the event of divorce or other litigation, or they can help ensure funds are available for specific needs, such as education, health care, or charitable interests. For most people, the primary objective in establishing a trust is to help ensure that assets are protected, managed, and distributed in accordance with their wishes when they are no longer able to do so themselves due to incapacity or death.

H ave you ever had one of those days when nothing seems to go right? You wake up late, you can’t find your keys, the kids aren’t ready, and the day continues to unfold in a negative fog. Those difficult days are the reason Megan Murphy started the Kindness Rocks Project. After her parents passed away, she found comfort in finding heart-shaped rocks and sea glass on the beach. She realized

How to Make Your Own Kindness Rocks

If you want to spread kindness, start with a few smooth 3- to 5-inch rocks. Part of the adventure is in finding the rocks, so take the time to explore outside to find them.

WHEN AWILL IS NOT ENOUGH Why Trusts Are Critical to Your Legacy

A will is an important estate-planning tool that serves many families well, but it can lack certain protections found in a trust. For one, a trust can be set up to include an “incapacity clause.” This clause states who should manage your affairs in the event that you are unable to. A will defines who receives assets outright, while a trust can designate how and over what time period you want to share assets with heirs. For example, a specific age can be specified as to when the assets are dispersed. These features are critical when beneficiaries are minors or if you want specific parameters on the amount of assets adult heirs may access over a given time period. Trusts can also be used to help ensure proper management of your assets during your lifetime.

As long as you’re alive, you are the trustee of your trust. You’re free to manage the property or assets in your trust in the manner you choose. A trust created and funded during your life is generally called a “living” or “revocable” trust. Should you be incapacitated, a trust can help ensure that your needs continue to be met and that your finances are kept in good order for your benefit. Upon your death, a trust becomes “irrevocable,” and your assets are managed and distributed by your trustee in accordance with your instructions throughout the trust’s existence. Trusts can provide comfort in knowing that you have a plan in place to provide for the management of family assets and to direct their use in accordance with your wishes during your lifetime —

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What You Need to Know About Withdrawing Money in Retirement Wealth From Wisdom Radio Highlights

Do you have a strategy in place for every withdrawal you make from your retirement accounts? Well, it turns out a lot of people don’t, and that is a costly mistake. In this month’s Wealth From Wisdom Radio highlights, co-hosts Ron Carson and Paul West discuss what you need to know about withdrawing money and how you can maximize the money you earned over a lifetime. We all know how easy it is to contribute to your IRA and 401(k). Whether you contribute through your employer or independently, it’s all relatively straightforward. Things change when it comes to withdrawing money from these accounts. It can get confusing, especially if you don’t have a strategy. Without a strategy, you can trigger an avalanche of taxes, penalties, and fees, not to

mention higher taxes on Social Security (remember it’s another account you’ve contributed to). The last thing you want is a financial surprise that could lead you to a lower standard of living. Many people don’t take the time to think about this holistically. Are you going to be one of the few who take the time to develop a holistic strategy so you only pay the minimum required by law? Or are you going to end up contributing more than you really need to? Right now, a lot of baby boomers are grappling with required minimum distributions (RMDs). It’s the amount you must take from your saved retirement funds, required by law. The first baby boomers are turning 70 1/2 — the age when RMDs kick in. The penalty

of not complying is 50 percent of what you were required to take.

When you save and sacrifice your entire life, this can be a huge blow to your savings. People pay huge penalties for skipping their RMDs. But why do RMDs even exist in the first place? Well, the IRS still wants to collect taxes. They don’t want people to put money away in tax-deferred accounts forever and never pay anything. Strategize to avoid this, just as you can avoid the many taxes and penalties attached to the account resulting from a mistake. For more strategies, click over to wealthfromwisdomradio.com to listen to the podcast dated 05/27/2017!

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PASTA WITH TURKEY AND BROCCOLI

For instance, when it comes to finances, a long-term mindset helps you weather volatility.

Earlier this year, the markets were hit with wave of volatility, which was completely normal. We witnessed one of the largest point drops in history. If you look at the big picture, though, it was far from the largest percentage drop in history. The markets are a very different landscape than they were 25 or even 10 years ago. When it comes to the financial pillar of your life, we don’t want you to worry about the short-term volatility of the markets. That’s why we do what we do. We’re here to help you navigate the ups and downs so you can focus on what’s important to you. We want you to find balance in your life. Before I sign off for the month, I do want to mention that April is Financial Literacy Month. As a member of the Society for Financial Awareness (SOFA), I like to remind everyone

INGREDIENTS •

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2 cloves garlic, chopped 1/2 teaspoon crushed red pepper

3/4 pound pasta (shells or orecchiette) 2 cups broccoli florets 3 tablespoons olive oil 1 pound ground turkey

• • •

• •

Salt

Parmesan cheese

INSTRUCTIONS 1. Cook the pasta according to package directions. Add broccoli when pasta is 1 minute from done. Drain both and return to pot. 2. Heat 1 tablespoon olive oil in a skillet over medium-high heat. Add the turkey, garlic, crushed red pepper, and a pinch of salt. Cook while breaking up meat with a wooden spoon for 3–5 minutes. 3. Combine turkey with pasta and broccoli mixture, adding the remaining olive oil as you stir. Serve in bowls topped with Parmesan cheese.

www.CornerstoneWealthGroup.com | 3 to do what they can to be as financially aware as possible. It’s always important to monitor your financial situation, ask questions, and stay informed. – Scott Ford

(Recipe inspired by realsimple.com)

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INSIDE

• Find Balance With a Long-Term Mindset PAGE 1

• The Message Behind Kindness Rocks PAGE 2

• Do You Need to Establish a Trust? PAGE 2

• Stop Overpaying Taxes in Retirement PAGE 3

• Pasta With Turkey and Broccoli PAGE 3

• 3 Places to View Natural Wonders PAGE 4

Naturescapes ONE-OF-A-KIND If you’re lucky enough to be in the right place at the right time, you might see rare magical sights — baby turtles scuttling Bioluminescent Plankton in Jamaica Imagine looking out at the water as the sky gets dark and seeing it turn a bright, glowing blue. That’s the sight you might be treated to at Luminous Lagoon in

toward water, glowing lagoons, or a shimmering sky. But when and where do you need to be to catch these natural wonders? Sea Turtles Hatching in Hawaii On Oahu’s North Shore, head to Turtle Beach, which gets its name from the many turtles that nest along its shores. During late spring and summer, the waves subside, allowing turtles to crawl onto the beach to lay their eggs. Baby turtles hatch at night and make their way to the water by the light of the moon. If you do head to the beach at night to see this spectacle, don’t use white light, as it can disrupt the turtles’ progress (that means no flash photography). Eco tip: Look, but don’t touch! It’s illegal to touch a sea turtle in Hawaii.

Jamaica, where dinoflagellates, microscopic organisms in the water, lend their glow to the lagoon. These tiny organisms thrive in areas where salt water and fresh water meet, making the lagoon in springtime an ideal place to see them. Eco tip: To ensure this magical sight will remain for years to come, always go with a “pack it in, pack it out” mentality. Take all of your belongings with you when you leave and be respectful of the beautiful environment that is yours to enjoy. Northern Lights in Scandinavia One of the most elusive natural wonders, the aurora borealis, can only be seen on dark nights in the most northern parts

of the world. That makes Sweden and its Scandinavian neighbors a great place to see the phenomenon. From December through April, you’ll have your best chance of seeing the northern lights. Sightings are dependent on solar activity, so it’s impossible to predict the exact timing and location, but they’re easier to see during the longer, darker nights of winter and early spring. Eco tip: Book your trip through a responsible travel company, such as those that practice a fair-trade policy.

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