Wolf Retirement Navigation August 2018

Wolf Retirement Navigation August 2018

904-232-8760 www.wolfretirement.com MONTHLY RET IREMENT NAV IGAT ION

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August 2018

A Woman Who Changed My World

Raising a Glass to My Wonderful Wife

In the recent April newsletter, I talked about one of my favorite days of the year: my daughter’s birthday. Now that August has rolled around, I want to shout out another important day: my wife’s birthday! My life has turned upside down since meeting Danielle, in all the best ways. I have a beautiful wife, an amazing daughter, and an advisory practice Danielle and I worked so hard to build together. Danielle was a real workaholic prior to having Isabella, and that honestly hasn’t changed much. For years, she worked with me to build this company while simultaneously taking care of our daughter and her own mother and sister. During the first three years of our practice, Danielle worked from home, handling a lot of behind-the-scenes matters. Her background is in marketing, sales, and helping people, so Danielle played a big part in getting Wolf Retirement Navigation off the ground and becoming successful. The love and support I have from Danielle cannot be overstated. She’s my best friend and partner. “

After Isabella got a little older, and responsibilities with Danielle’s mother and sister ended, Danielle decided she was ready to leave the home office to come to work in our office. We figured out pretty soon that working together in the office every day wasn’t going to work out. Like a lot of couples who try to work together, we discovered spending all the time at home and at the office with your significant other can create some friction. Ultimately, Danielle decided she wanted to go back to the workforce and find a career about which she was very passionate. Today, she’s helping businesses and government agencies build safer communities by providing them with training software that empowers them to better handle crisis prevention, bullying, and first-responder situations. Danielle and I are celebrating our ninth wedding anniversary in November of this year. The love and support I have from Danielle cannot be overstated. She’s my best friend and partner. I understand how some of my older clients can still be crazy about their spouses after decades together. What I don’t understand, though, is how some older couples drop the ball when it comes to finances and retirement planning. It’s important for couples to be on the same page financially throughout their relationship, but especially as they This information is designed to provide general information on the subjects covered; it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Wolf Retirement Navigation LLC and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.

approach retirement. When both partners are aware of their financial state, it’s easier to make those big decisions and plan for the amazing things they will do together once they are no longer working. But communicating about finances is important for another serious reason. If one spouse becomes physically incapacitated or passes away, his or her partner should be allowed to mourn, not struggle alone to figure out the finances. Communicating about finances helps couples be more secure in the long run. When you love someone, you want to make sure he or she is going to be able to survive, no matter what happens. And if you’re lucky like I am, you know you will always have that special someone looking out for you too! Danielle, I love you so much. I appreciate everything you do for our daughter and our family. Happy Birthday Blessings and Celebration! –Adam Wolf, CPA, CFP ® Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed Insurance and Annuity product guarantees are subject to the claims‐paying ability of the issuing company and are not offered by Retirement Wealth Advisors.

Investment Advisory Services offered through Retirement Wealth Advisors (RWA), a Registered Investment Advisor. Wolf Retirement Navigation LLC and RWA are not affiliated. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.

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THE BENEFITS OF OPEN-SKILL SPORTS WANT TO IMPROVE BRAIN HEALTH? GRAB A SWORD!

Did you know fencing is making a comeback? No longer just for

activities defined as “open-skill sports,” like fencing, can do more to improve brain health than “closed-skill sports.” Open or Closed? The difference between an open-skill sport and a closed-skill sport lies in the dynamic nature of the activity. Going for a jog is great for your heart health, but your body is doing the same thing during the entire workout. This makes it a closed- skill sport. The same goes for swimming; you might have different strokes to choose from when you jump in the pool, but your brain is focused on repeating the action while doing your laps. Open-skill sports require players to respond to unpredictable circumstances in unpredictable ways. Fencing is a great open-skill sport because, while you have to learn the right way to hold the saber and move your body, you also have to

think on your feet and react quickly to your opponent’s attacks.

heartsick gentlemen of the Regency era, fencing is increasingly being taught in public schools, displayed in the pages of popular indie comics, and practiced among seniors. Plenty of

Researchers from the Foro Italico University of Rome believe that it’s the required adaptability that makes open-skill sports so good for your brain. You challenge your body with complex motor movements and your mind with fast decisions. In the study from PSE, the researchers reported that “the open-skill athletes used less brainpower to do the same thing than the closed-skill exercisers did.” What’s the Best Open-Skill Sport? If fencing isn’t your thing, there are plenty of other great open-skill sports, including tennis, badminton, basketball, and racquetball. What are you waiting for? Swing by your local rec center and find out what open-skill sport will be your new favorite pastime!

baby boomers are picking up swords, or

“sabers” — and it’s not because they’re preparing to

fight dragons. Exercise is important no matter your age, but some activities are more beneficial than others. Research published in the journal Psychology of Sport and Exercise (PSE) suggests

ROBIN’S RECOMMENDATIONS Have You Heard About the Sing Out Loud Festival?

We are fortunate to live in an area where so many awesome things are happening all the time. Some of these great events are widely promoted, and then there are those many hidden gems just waiting to be discovered. For example, something I am really looking forward to is the upcoming Sing Out Loud Festival. Scheduled for the first three weekends in September 2018, SOLF is a massive music festival held in our beautiful neighboring city of Saint Augustine, Florida. There will be more than 100 local bands and artists playing alongside world-famous acts. Personally, I am super excited to see The Decemberists, an American indie rock band. The festival features a wide selection of musical talents and genres, from modern folk and Americana to hardcore punk. Each weekend, dozens of bands perform at different venues across Saint Augustine, so not only could you find your new favorite band, you might also find a great new place to hang out. Last year’s Sing Out Loud Festival was canceled due to Hurricane Irma, so fingers are crossed for clear skies this year. All the festival performances are free to the public, except for the September 22, 2018 showcase featuring Jason Isbell and The 400 Unit, The Decemberists, and Lucero at the St. Augustine Amphitheatre. As the only ticketed event of SOLF, this show is a benefit concert for the Betty Griffin Center of St. Johns County,

with proceeds donated to helping end domestic violence and sexual abuse in our local community.

The Sing Out Loud Festival is awesome for many reasons. Not only is it a lot of fun, but it’s also a wonderful event that celebrates our community and supports local artists. Plus, since most of the shows are free to attend, it’s a great opportunity for everyone to gather together and enjoy some great music.

You can check out the full schedule and find venue locations at singoutloudfestival.com. I hope to see you there!

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Healthcare Costs Continue to Rise …

Do You Need to Worry?

Fidelity Investments estimates that a 65-year-old couple retiring today will spend approximately $280,000 on healthcare during retirement. This is an increase from their 2016 estimate of $260,000, and it highlights the fact that healthcare costs are likely to keep rising as time goes on. If the price of healthcare can increase by $20,000 in just two years, how is the average retiree supposed to afford these kinds of costs? Believe it or not, the situation isn’t as hopeless as it might first appear. First, there are many different types of accounts you can use to cover healthcare costs. Think 401(k)s, health savings accounts (HSAs), flexible spending accounts (FSAs), and even Roth IRA accounts. Plus, there are many investments that could also fit the bill, including life insurance and certain annuities. With a knowledgeable retirement-focused fiduciary advisor, identifying a plan that will work for you is the easy part. The challenge comes in committing to a budget that will cover current and future healthcare costs. Advisors suggest at least 5 to 15 percent of any money you contribute to a long-term retirement account be earmarked for healthcare expenses.

Medicare might not cover your every health need, but it’s a big help. At Wolf Retirement Navigation, we strongly encourage clients to enroll in Medicare when they become eligible. Most people can apply for Medicare six months before they turn 65, which means they can start receiving Medicare benefits on their 65th birthday. Medicare Part B premiums for new enrollees start at $134.00 per month and can be as high as $428.60 per month, depending on your income earned that year. Many Medicare supplemental and advantage plans are available as well to help offset costs that parts A and B don’t cover. What’s more, the annual wellness visits and health screening covered by Medicare can do a lot to help you stay healthy. Addressing minor health issues before they escalate into major problems can save you a pretty penny in the long run. Your team at Wolf Retirement Navigation is equipped to assist you with your retirement needs, including planning for healthcare costs and long-term care, all with the goal of reducing or hedging your overall burden of insurance costs and premiums. The secret is a smart plan and to

plan well in advance. Give us a call at 904-232-8760 and let us introduce you to innovative products that will help you cover all your bases during your retirement years.

In addition to utilizing the right accounts, there are many proactive ways you can save money on healthcare costs.

Adam had the distinct pleasure of speaking to the Calvary Missionary Baptist Church in Palatka, FL, as part of their six-week long series about being financially fit. As Jacksonville’s Retirement Coach, Adam educated and empowered the attendees with

INGREDIENTS

• 4 boneless, skinless halibut fillets, about 5 ounces each • 1/4 cup olive oil, plus extra for drizzling • 1 lemon

• 2 pounds mixed tomatoes, sliced • 1/2 cup hearts of palm, drained

• Basil leaves, for garnish • Kosher salt and black pepper, to taste

Adam with Pastor Demps

DIRECTIONS

1. Lightly oil grill grates and heat grill to medium. 2. Grate 1 teaspoon lemon zest onto halibut fillets. Drizzle with olive oil and season with salt and pepper. 3. Grill halibut, turning just once, for about 5 minutes on each side. 4. In a mixing bowl, combine tomatoes, hearts of palm, juice from lemon, and oil. Season with salt and pepper. 5. Garnish salad with basil. Spoon salad over grilled halibut. Serve.

current information regarding the importance of successfully preparing for retirement — financially — with the goal in mind of a rewarding and enjoyable retirement lifestyle. If you know of a group, church, or other association that would like to host Adam, please call Robin at the office for details and further information. 904-232-8760

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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411

904-232-8760 www.wolfretirement.com 4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224

INSIDE

• Happy Birthday, Danielle PAGE 1

• Fence Your Way to Better Brain Health PAGE 2

• Robin Recommends: Sing Out Loud Festival PAGE 2

• Healthcare Costs Increase Again! PAGE 3

• Summer Grilled Halibut PAGE 3

• Safe Sailing This Hurricane Season PAGE 4

Book a Caribbean Cruise Safe Sailing This Hurricane Season

Tips forYourTripBack inTime

Safety and Savings Much like resorts and airfare, cruise lines discount their Caribbean fares significantly during peak hurricane season, from August to October. However, unlike a traditional hotel, these massive ships have the luxury of navigating out of a storm’s path with ease. For all their ferocity, hurricanes move slowly across the Atlantic and have relatively predictable trajectories. Meanwhile, modern cruise ships carry the most sophisticated weather-tracking instruments, allowing them to bypass even small storms and inclement weather. Flexibility Is a Must The flipside of this ability to dodge storms is the fact that your ship may not be able to stick to its original itinerary. You may have to anchor at an island you weren’t expecting to or miss out on seeing a port you were supposed to visit. If you have

After last year’s devastating storm season, would-be tropical travelers are undoubtedly hesitant about purchasing those discounted plane tickets to the Caribbean Basin. No one wants to face a possible evacuation during their vacation — or worse, be forced to weather a hurricane at a beachfront resort. If you want the most bang for your buck while enjoying the turquoise waters of the Caribbean this fall, consider booking a cruise. Cruise-ship travel is a fun and adventurous way to explore any time of year. After all, what could be more magical than a floating hotel room where you fall asleep in one country and wake up in another? This charming mobility is also what makes cruise travel the safest option for visiting the Caribbean and the coast of Mexico this time of year.

your heart set on seeing a specific location, cruise travel this time of year may not be for you. But if you are simply looking for a safe, affordable vacation to a beautiful region, then it doesn’t much matter which white-sanded beach you wake up to next. While unpredictable weather will always be a concern for any vacation, the safety and variety cruises offer make them great options for anyone looking for a Caribbean getaway before the holiday season. So if you have a flexible schedule and a healthy sense of adventure, it’s time to call your travel agent, pack your sunscreen and bathing suit, and head to paradise!

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