Wolf Retirement Navigation MARCH 2018

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

March 2018

MAKE YOUR OWN LUCK How to Tell the Future … Without a Crystal Ball

Be Prepared

There is a crystal ball in my conference room. I use it to peer into the future to determine exactly what the market will do when I help my clients plan for their retirement. I’m kidding, of course. If I knew what the market would do, we’d all be relaxing on our own private islands. Planning for retirement does demand foresight, though, and my crystal ball acts as a reminder that there’s only one way to know what your future will hold: You have to plan for it. A lot of people look at those who are living their dreams and say, “Wow, aren’t they lucky?” You can be lucky too! No one is predestined to be lucky or have a great retirement. I believe it’s a person’s attitude and life choices that create “lucky” outcomes. Here are a few ways to make your own luck.

Speaking of the market, since 2017 was such a great year, it’s a good idea to recalibrate your overall plan now. After years of record-breaking increases, do you know what you’d do if it all went south? Some people would only be able to curse their bad luck. However, other people might be able to remark on how lucky they were to have a plan that saved their accounts even as the market dropped. The best examples of luck often occur when we are prepared to take advantage of a great opportunity. If you want to be lucky, you have to make it a point to educate yourself, reach out to experts, and give yourself the resources to have the best chance of success. Lucky people never say, “I’m waiting for my ship to come in.” A lucky person does the hard work and builds their own ship. Retirement can be seen as a waiting game as you count the days until you can finally kick back and relax. But you can’t sit around doing nothing and expect there to be a pot of gold at the end of your retirement rainbow. You have to be proactive and ready to make decisions regarding your future. An expert is invaluable for making the best decisions Don’t Wait for the End of the Rainbow

possible. You can find a pot of gold, but it will only be a pot you built yourself.

Think Positive

Did you know lucky people believe they are lucky? Meanwhile, people who claim to be unlucky tend to experience more “bad luck.” This is because a person’s attitude often acts like a self-fulfilling prophecy. Lucky people don’t dwell on their bad luck, because spending time in regrets might cause you to miss the next opportunity to enjoy good luck. I don’t mean you have to be cheerful if the market takes a sudden downward turn and you’re worried about your retirement plans. You are free to respond reasonably to any unforeseen situation — though if you’d listened to step one and prepared, this kind of turn wouldn’t be cause for worry at all. We can’t rely on luck or four-leaf clovers to grant us our dream retirement. The only way to successfully read your future is by putting in the work and planning right. –Adam Wolf, CPA, CFP ®

“

The best examples of luck often occur when we are prepared to take advantage of a great opportunity.

www.wolfretirement.com | 1 a. 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. This information is designed to provide general information on the subjects covered. Pursuant to IRS Circular 230, 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. 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. 2 LOCATIONS TO SERVE YOU! Jacksonville & Fleming Island.

Invest in Your

GRANDCHILD’S EDUCATION

There are many strategies out there for folks who want to invest in their grandchildren’s education. Different

these are treated favorably by financial aid assessors, meaning you won’t hurt your grandchild’s chances of receiving government grants. There are two broad types of 529 plans: college savings plans and prepaid tuition plans. Savings Plans College savings plans use one or more investment portfolios to grow your grandchild’s tuition fund. Each portfolio contains a diversified mix of investments curated by the plan’s money manager. Most plans allow you to select from a menu of portfolio options that best fit your goals and risk tolerance. Many college savings plans start aggressive and then become more conservative as your beneficiary approaches college age. The downside with these sorts of plans is that there will always be risk involved; there’s no guarantee on investment returns. Prepaid Tuition Plans States and some private institutions have 529 plans available that let you pay for your

grandchild’s tuition up front, well before they are ready to head off to college. Some plans guarantee to cover a set amount of future tuition expenses in exchange for a lump sum or payment plan. Other plans allow you to buy “units” or “credits,” which translate to a fixed percentage of an institution’s tuition. Essentially, you pay the cost of tuition today rather than what it will cost by the time your grandchild goes to college. Prepaid plans are far less risky than savings plans, but they aren’t as flexible. They often limit options to state schools or select institutions, though most plans offer some form of reimbursement option if your beneficiary decides to attend another school. College just isn’t as affordable as it used to be. Knowing your options and finding a savings strategy early in your grandchild’s life can help ensure the avenues of higher education stay open for them.

options may be more attractive than others

depending on your income bracket and

the needs of your family. Traditional

strategies, like life insurance policies or paying for your grandchild’s schooling directly, only work if

you have the capital. Furthermore, those methods can often negatively impact how much financial aid your grandchild qualifies for. Before you commit yourself to one of these paths, it’s worth exploring a third option: 529 saving plans. 529 plans are income tax-free savings plans specially designed to help you invest in a child’s higher education. In general,

THANK YOU!

Tune in every Sunday for the “Sunday Morning Money

Report” on CBS 47 at 9:05 a.m. for financial news and retirement tips in just two minutes.

TUNE IN!

Tune in every Monday from 11:00 a.m. to noon for “4 Your

Money” on River City Live on Channel 4, The Local Station. Re-airs Mondays at noon on Channel 17, WCWJ “The CW,” and again on Tuesdays at 7:00 a.m. on “The CW.” Tune in to NBC 12 on Tuesdays for Jacksonville’s Retirement Coach, Adam Wolf, on First Coast Living, from 11:00 a.m. to noon and again from 2–3 p.m.

Every day, we’re grateful to our clients who continue to trust us as we help them navigate the road to financial security. It means a lot when you introduce your friends and family to us so we can help them, too!

2 | 904-232-8760

2 LOCATIONS TO SERVE YOU! Jacksonville & Fleming Island.

A NOT-SO-CHARMING PRINCE

Protect Yourself Against Common Scams

“Maybe I should feel weird about giving a stranger my Social Security number, but the guy’s a Nigerian prince!”

a smaller upfront payment. Swindlers claim they need the upfront payment in order to obtain the larger reward. Today, cybercriminals love to run this scam through email, so your best bet is never to respond to messages from people you don’t know. Greeting Card Scams Email greeting cards can be a nice surprise in your inbox. Unfortunately, such emails usually end up being scams. You download malware or other malicious software after you click the link to view the card. Let’s be honest, no one sends email greeting cards anymore, so even if it looks like it’s from your sister, you can send that message straight to the trash. Scams come in different shapes and sizes, but they often share a few telltale signs. Remember to be cautious if you find yourself in any of the following situations: • Money is involved. • You’re being pressured to “Act now!” • You have been asked to share any personal information.

This line from the CBS sitcom “How I Met Your Mother” is just one example of Hollywood using the old Nigerian prince scam to make a joke about how gullible a character is. While audiences are sure to laugh, this scam and many others have successfully swindled people out of millions of dollars. Fake princes aren’t the only crooks scamming people out of their hard-earned savings. Here are some of the most popular scams and how you can avoid them. Phishing Emails Cybercriminals like to send you emails masquerading as messages from your bank or financial institution. The goal of phishing emails is to trick you into thinking you are logging in to your real account when, in reality, you are handing personal information to scammers. With this knowledge, criminals can drain your accounts or steal your identity. Protect yourself from this scam by never clicking a link to your bank in any email you didn’t request. Advance-Fee Fraud This scam has been around since the days of fax machines. Victims are offered a large sum of money in exchange for

Scammers are becoming more sophisticated, but if you practice a bit of caution, you should be able to avoid the worst offenders.

Sudoku

This simple and delicious one-pot recipe is perfect for a weeknight. It only requires about 15 minutes of hands-on work, but will taste like you spent all day building flavors. It’s a hearty comfort food that’s sure to delight eaters of all ages.

INGREDIENTS

• 1 tablespoon olive oil • 8 small bone-in chicken thighs • 1 cup low-sodium chicken broth • 12 radishes, halved

• 4 large carrots, cut into sticks • 1 tablespoon sugar • 2 tablespoons fresh chives, chopped • Salt and pepper

DIRECTIONS

1. Heat olive oil in a large saucepan or Dutch oven over medium- high heat. 2. Season the chicken with salt and pepper. Brown in pan for 6–7 minutes per side. 3. Remove chicken from pan and scrape off excess fat. Add broth and stir in radishes, carrots, and sugar. 4. Return chicken to pan, placing on top of vegetables. Gently simmer with lid on pan for 15–20 minutes. Finish with chives.

Solution

2 LOCATIONS TO SERVE YOU! Jacksonville & Fleming Island.

www.wolfretirement.com | 3

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

• Don’t Wait for the Pot of Gold PAGE 1

• Protect Your Grandchild’s Future PAGE 2

• Thank You! PAGE 2

• A Royal Investment or a Total Fraud? PAGE 3

• Braised Chicken and Spring Vegetables PAGE 3

• The 3 Best Places to See Beautiful Flowers PAGE 4

Flower Displays Spring is here, which means flora will soon be in full bloom. Flowers can be an easy pick-me-up or a great way to add color to your home, but some people take their flower obsession to the next level by planning botanical-themed vacations. Here are some of the most impressive gardens and flower displays in the world. The Netherlands Washington, D.C. Besides the monuments and historic buildings, one of the biggest attractions in Washington, D.C. is the cherry tree blossoms. Travelers who visit the Tidal Basin during the spring can witness 3,000 trees, which were a gift from Tokyo in 1912, flaunt their beautiful pink blossoms. The best time to see the spectacle is from the end of March through the end of April. Anza-Borrego Desert State Park Earth’s Most Beautiful

Tips forYourTripBack inTime

barren patch in the park, which is located just two hours from San Diego. In addition to flowers, visitors often spot bighorn sheep. Wildflower blossoms vary in intensity each year, but they typically begin to bloom in late February or early March. Next time you’re planning a spring trip, consider visiting one of the world’s most beautiful flower displays. No green thumb required.

Holland, most famous for its tulips, always draws visitors at the first sign of spring. One of its most famous destinations, Keukenhof, located in Lisse, is among the world’s largest flower gardens. The park is 79 acres and boasts approximately 7 million flowers each year. This colorful garden is open annually from mid-March to mid-May, but mid-April is the ideal time to see the tulips.

Desert lavender, flowering cacti, pygmy poppies, and rock daisies are just a few of the many wildflowers decorating Anza- Borrego Desert State Park. The various native species are often seen weaved together to form a colorful carpet over any

4 | 904-232-8760

2 LOCATIONS TO SERVE YOU! Jacksonville & Fleming Island.