Wolf Retirement Navigation June 2017

Wolf Retirement Navigation June 2017

904-232-8760 www.wolfretirement.com MONTHLY June 2017 RET IREMENT NAV IGAT ION

DEAR OLD DAD My Father, the Frugal Saver

school for a while, and now works part time in the culinary department at a university. When someone decides to work during retirement, it’s usually because they need income. Luckily for my dad, who retired early at 60, this isn’t the case. All his life, my dad’s been a frugal person. He worked hard, saved hard, and rarely spent money on items he didn’t need. Years ago, when I helped him work on his retirement plan, we put together a strategy where he could live comfortably for the rest of his life. I’m not claiming this was an easy achievement. Most parents will always see their sons and daughters as kids, and my dad is no exception. I, too, will always think of my daughter as my precious little girl. Dad and I had to get over this hurdle at first, but it helped that he’s always been proud of how knowledgeable I am in the field and trusted my expertise. Years before he decided he was done working for AT&T, he let me step in and lend my know-how to put a plan in motion. That being said, my dad, like many other frugal people raised by Depression-era parents, found it difficult to transition from a saving

My mom and dad came from families that didn’t have a lot of means but always shared a lot of love. Both my grandparents grew up during the Great Depression, and they taught my parents the importance of hard work, a family value passed down through the generations. Raised in Delaware, Dad figured out pretty early that he wasn’t where he wanted to spend his whole life. After graduating high school, he enlisted in the Army during the Vietnam War. He spent three years in the Army before serving in the Naval reserve for another 17 years.

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to a spending mentality. However, if they are like my dad who saved well and created a solid retirement plan, then they really can have both. With a written plan in place to show how the retirement money is being used and what’s going to make it last, retirees can comfortably enjoy getting that new car or investing in a new hobby, like culinary school. I think he deserves to fully enjoy his retirement without fear. Happy Father’s Day to my dad and all the great dads out there! I know we owe a lot to your dedication. – Adam Wolf, CPA, CFP ®

All his life, my dad’s been a frugal person. He worked hard, saved hard, and never spent money on items he didn’t need.

Dad spent many years going to night school to obtain his mechanical engineering degree. My parents sacrificed a lot to support our family and always wanted to work hard. Even today, as Dad enjoys his retirement, he attended culinary

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The Possibilities of Broth

Why You Should Make Broth Part of Your Diet

benefits may be limited, the research into its nutritional value is not. We know it’s a great source of many of the nutrients our bodies need to function — and function well. Think of broth as a supplemental source of everyday nutrition. It’s certainly not a meal replacement. If you haven’t, give it a try. You may find it helps with our aching joints or digestion. As a beverage, it makes a great addition to any daily routine. Have a cup with lunch or dinner, or as an afternoon snack. Or, make broth- based soups a regular part of your diet. After all, there is a very good reason why so many people swear by the healing powers of chicken noodle soup. Discover it for yourself!

along with collagen and amino acids — everything a body needs. Broth has even been called an immunity booster and an inflammation reducer. When it comes to its effect on inflammation, it’s easy to see how it earned its reputation. It’s a source of many joint-friendly nutrients, including glucosamine. While broth is said to alleviate different kinds of inflammation — from joint aches to gastrointestinal discomfort — as well as shorten colds and even reduce symptoms related to allergies, the jury’s still out on the science behind it. Research into these benefits of broth is extremely limited. That said, this astonishing liquid still deserves a place in your kitchen. Though research into broth’s many

For centuries, broth has been a culinary staple among cultures the world over. You can sip it as a warm beverage, use it to make soups and sauces, or use it as a flavor enhancer for rice, vegetables, and countless other foods. Whether it’s bone, beef, chicken, or fish broth,

the possibilities are

practically endless!

What makes broth really special is the liquid’s remarkable nutritional content. The protein-packed brew is loaded with vitamins and minerals,

PASSING GRADE Retirement Educational Workshop Was a Huge Success!

If you missed our Retirement Educational Workshop, don’t worry! We’ll be hosting another one in the fall — details to come. Thanks to everyone who attended! We look forward to the next one.

At the end of May, we hosted our Retirement Educational Workshop at SJR State College in Orange Park. This comprehensive course tackled the “big picture” of retirement and educated attendees about how to plan their retirement income to fit their lifestyle, evaluate strategies to protect against the high costs of health care, take control of 401(k) plans and retirement accounts, avoid the 10 biggest retirement planning mistakes, and more. We enjoyed a wonderful turnout and saw plenty of new faces, as well as familiar faces from Jacksonville and from our new office in Clay County, which has proven to be a great fit for the residents of the community. Attendees included married couples preparing to enter retirement, single retirees already enjoying their golden years, individuals concerned about the future of tax rates in the United States, and even investors who were sick of the one-size-fits-all approach of banks, brokerage houses, and Wall Street firms. Unlike many other commercial workshops, our Retirement Educational Workshop focuses solely on education and doesn’t sell or discuss any specific financial products. Our qualified financial professional, Adam Wolf, instructed the course, sharing examples of real-life experiences and taking questions.

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HIDDEN COSTS

Women often spend less time in the work force. If a woman chooses to have children, trends show she will likely leave the workplace for at least a short period of time before or after childbirth, and may even take a few years to raise her children. Additionally, women may have to care for aging parents. In these times, women aren’t able to put money into their social security or a 401(k), which will create a greater burden on their retirement down the road. Women live longer than men. On average, women outlive men by at least five years. This means that even if a woman earns equal income and spends all her working years on the job, she will still need more in her retirement plan if she wants to avoid the possibility of outliving her savings, too. These are frustrating factors to overcome, but that does not mean planning for retirement is impossible. There are ways to navigate retirement planning using the resources you have at hand, and it’s never too late to start saving. Having a plan in place is the most important step. If you’re worried about saving for retirement or want to make sure you aren’t going to run out of money during retirement, then you need to take advantage of Wolf Retirement Navigation’s complimentary readiness review. Give us a call at 904-232-8760 and make sure your lifestyle won’t have to suffer during retirement.

Employee benefits consultant Aon Hewitt estimates 5 out of 6 women don’t save enough for retirement. This isn’t to say women aren’t saving for retirement, but there are factors which make retirement planning more challenging for women than men. Here are some of those factors.

On average, women earn less during their working years. The 2012 Survey of Income and Program Participation >Page 1 Page 2 Page 3 Page 4

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