Wealth From Wisdom October 2018

Wealth From Wisdom October 2018

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October 2018

A Transformative Experience

Reina Sandler Goes Corporate to Cornerstone

I spent most of my career at a corporate office with 36,000 other people. I was working in insurance in what you might call the quintessential corporate job. Then, in 2017, I joined Cornerstone Wealth and gained an entirely new perspective. It goes without saying that there is a huge difference between a firm with 36,000 people and a firm with fewer than a dozen people. It was a culture shock, not only because of the way Cornerstone did business, but because of the office environment itself. It was a culture shock I very much welcomed. I remember when I was hired, everyone took part in the hiring process in some way. They wanted to make sure I would be a good culture fit and mesh well with the team. It’s a practice a lot of small businesses have adopted. Cornerstone wanted to make sure the team meshed in terms of personality and ethics. It really translates to how they do business with clients. It’s also a process that contributes to the idea of family. Everyone at Cornerstone feels like a member of the family. We each have our quirks and get along so well. This is not something you typically find in the corporate environment, where hiring practices are very different and that feeling of family and camaraderie doesn’t really exist.

Speaking of transformations, I’ve had a few in my own life. Over the past couple of years, I became a mother and got married! So much of my world revolves around my beautiful adopted daughter, Eleanor. She’s approaching 2 years old, and for the past 20 months, she has been my everything. I also got married shortly before adopting her. It’s been a very eventful two years! I love to travel and have been fortunate to visit 28 countries (so far). I already have my next trip planned. Next year, I’m off to Turkey, Egypt, and Israel. I do have to say that Israel is one of my favorite destinations and is very close to my heart — I’ve visited 10 times! There is just so much to appreciate in that corner of the world — the history, the food, the people, and the spirit of the area. With all of these big changes over the last two years, I’m looking forward to what the next couple of years have in store.

Interestingly enough, before I joined the team last year, I learned of the job opening from Amy Constable, who had shared the posting on Facebook. I was looking for a move out of the corporate world, and Cornerstone seemed like it would be a good fit — and I say that as someone who doesn’t have a background in wealth management. of my role as the transformation manager at Cornerstone. I typically work with smaller partner firms that are looking to incorporate the Carson platform. I help walk them through the process from the beginning all the way to full integration. It’s all about a successful transformation from their previous platform to the Carson platform. My background is actually in project management, which is a crucial part

Reina Sandler

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How to Rewind Life’s Clock Using Social Media

There’s an App for That?

O ne of the hardest challenges of aging isn’t coping with the physical changes or new limitations associated with getting older; it’s finding new groups of people with similar interests, especially for empty nesters. Many adults build their peer networks around their children, making them the focal point of conversations with other parents in similar situations. But as children grow older and eventually leave home, parents are forced to adjust to their dwindling social lives. While some adults thrive in meeting new people, many struggle to find ways to connect with their peers. Fortunately, there are apps for that. Easy Facebook for Seniors The mother ship of social media can sometimes be more of a maze than a way to connect with others. Facebook took notice of this and created a simplified version of the app specifically designed for those who want to avoid all the When wealth is transferred from one family member to another, the beneficiary is usually older than 18. However, some individuals choose to pass wealth to their grandchildren, nieces, nephews, or other underage heirs. This is often done to ensure that the family’s wealth is available to children. It is particularly useful for education-related expenses. It’s also done when there are strained family relationships to contend with. It is important, however, to be aware of the limitations on passing wealth to minor beneficiaries. When parents, grandparents, or other relatives name a child as primary or contingent beneficiary of an insurance policy, individual retirement account (IRA), or investment account, most policies and investments will not directly transfer to a minor. Instead, the policies

distractions. Ease of use makes the opportunity to connect with others who have similar interests simpler than ever. OurTime Dating in your 50s can be tricky, especially when many singles are looking for specific requirements in a partner. Some are seeking casual relationships, while others are looking for someone to grow old with. OurTime is a dating app that allows seniors to find partners with similar values, priorities, and passions. It’s a great way to find new people to share the golden years with. Skype You don’t have to wait for the holidays for your next group gathering; Skype allows you the opportunity to have video chats with anyone who has a smartphone. Maybe your conversation about the football game got cut short at church, or maybe you never finished your discussion at book

club. Whatever the occasion, Skype gives you the option to connect with the people around you, even when you don’t feel like leaving the comfort of your house.

Transferring Wealth to Minors What You Need to KnowWhen Beneficiaries Are Under 18

and investments must be received by a court-approved property guardian, a trustee of a guardian’s trust, or a revocable living trust beforehand. There are state laws in place to prevent anyone under age 18 from receiving large lump sums. There are also laws that prohibit minors from owning real property worth more than $2,500–$5,000 (limits vary by state) or receiving cash inheritances greater than that. Most insurers also do not distribute life insurance proceeds to minors.

In regard to guardianship, the individual you name as personal guardian for a child can be the child’s property guardian, though it’s not required. One person usually serves as both, but if the personal guardian lacks financial literacy or accountability, it may be necessary to appoint a separate property guardian to manage assets for the child until they turn 18. If you do not appoint a trustee or property guardian for a minor through your will or trust, the courts will decide who that trustee or guardian will be. In that event, a court must review the choice of guardian, and any inherited assets will be probated. A property guardian should be someone likely to live at least until the child turns 18. As the child approaches legal age, the terms of your will or trust should be reviewed and updated as appropriate.

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How Emotional Decisions Can Ruin Your Investment Strategy Insights From the Cornerstone Blog

When an investor reacts emotionally to a market decline, they often pull money out of the market, derailing their investment strategy and leaving them far less exposed to equity markets. Often, these moves are made very near the bottom of the market, and the investor leaves behind a substantial portion of return. This year, the S&P 500 raised the hopes of many by climbing more than 7.5 percent by January 26 and then dashed them by falling more than 10 percent in the next 13 days. When the S&P 500 approached the 10 percent threshold, some investors became nervous and reduced their risk by selling stocks and going to cash or bonds. This is the point where they started leaving money behind. Rather than continuing to drop, the S&P 500 has climbed and may

continue to trend upward. Unfortunately, once an investor derails their investment strategy and reduces their allocations to stocks, they don’t have a method for determining when to get back in. Rather than pulling money out of a portfolio of diversified investments, a better approach might be to use asset allocation strategies designed to manage or reduce risk during significant market declines. These approaches reassure investors that their portfolios are being adjusted to reduce risk while benefiting from a strategy that ensures minimal return is left behind. We see these strategies as potentially more beneficial to clients trying to balance an asset allocation in retirement. When a person can’t extend their career or increase retirement contributions, the ability to

recover from downturns becomes a bigger challenge. In a low-income environment, using systematic approaches to risk management can manage the downside without relying on the still-paltry income provided by bonds. Now seems like a good time to reassess risk. If you were able to hold on during the last decline but don’t want to experience something like that again, the recent rally has put you close to even. You’re unlikely to regret making a change right now. Most importantly, your portfolio will be better prepared for the next sharp downturn. For more from the Cornerstone Wealth Management Group blog, visit cornerstonewealthgroup.com/insights/blog .

Sudoku

Brussels Sprout and Kale Salad

INGREDIENTS •

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4 tablespoons fresh lemon juice 1/2 cup extra-virgin olive oil Kosher salt and fresh ground pepper, to taste

1 pound Brussels sprouts 1 bunch kale, destemmed and finely chopped 2 tablespoons whole grain mustard

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•

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DIRECTIONS 1. Trim stalks off of Brussels sprouts. 2. Using a mandoline, food processor, or very sharp knife, shred Brussels sprouts very finely. 3. In a large bowl, whisk together mustard, olive oil, and lemon juice. Add kale and Brussels sprouts and toss to coat with dressing. 4. Season with salt and pepper to taste. 5. Serve.

Answer on page 4

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Sudoku Answer

INSIDE

• A Transformative Experience With Reina Sandler PAGE 1

• Turn Back Time With Social Media PAGE 2

• What You Need to Know About Transferring Wealth to Minors PAGE 2

• Emotional Decision-Making and Your Investments PAGE 3

• Brussels Sprout and Kale Salad PAGE 3

• The Birthplace of Halloween PAGE 4

The Real Halloween Town County Meath, Ireland, Where Halloween Began

Halloween celebration. The Spirits of Meath Halloween Festival attracts thousands of guests from all over the world, and while this festival has only been celebrated since 2009, many of the traditions observed here date back to ancient times. The ancient Irish weren’t trick-or-treating or visiting haunted houses on Oct. 31, but they were celebrating the pagan holiday Samhain. Over 3,000 years ago, this Celtic festival was born in Meath and marked the end of the harvest. Samhain was celebrated with bonfires, offerings to fairies, and other rituals meant to keep evil spirits away. Many of these customs carried through the centuries and inspired Halloween traditions that are still practiced today. Today, Meath celebrates Oct. 31 with a blend of spooky thrills and traditional Samhain practices. The Spirits of Meath Halloween

Festival starts with the lighting of the first torch fire of Samhain in Athboy, which kicks off a month of fun activities. If you like your Halloween extra spooky, the scream park, Farmaphobia, is waiting for you. And if you’re not a fan of screaming your head off, you can check out the Halloween-themed Spookling Afternoon Tea for fresh-baked treats and spirited conversation. The motto of this all-ages festival is “Fun by Day; Frights by Night,” meaning all the really scary ghosts wait until after sunset to come out. There are plenty of ways to celebrate Halloween, from carving jack-o’-lanterns and eating chocolate to running for your life through a haunted corn maze. And in County Meath, you can celebrate Halloween in every possible way. For more info, visit www.Discoverboynevalley.ie/whats-on/ spirits-meath-halloween-festival-2018.

Fans of Halloween don’t need to look far to find somewhere to celebrate their favorite holiday. There are festive parties all over the world, from New Orleans to London, but if you really want to embrace the spirit of Halloween, there’s no better destination than the birthplace of the holiday: County Meath, Ireland.

Every year in Boyne Valley, the residents of County Meath throw a month-long

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