Wolf Retirement Navigation - October 2020

Wolf Retirement Navigation - October 2020

RET IREMENT NAV IGAT ION

MONTHLY

4230 Pablo Professional Court Ste. 101 Jacksonville, FL 32224

4711 US Highway 17 Suite C-5 Fleming Island, FL 32003

As seen on:

October 2020

FACING YOUR FEARS What Are the Most Common Fears in America?

I think this fear comes from the fact that my daughter is growing up in a very different environment than I did. When I was a kid, my family had more love than money. The experience taught me to be grateful for what I had and to work hard. Meanwhile, Isabella has spent her six short years a few blocks from the ocean. I don’t want her to take the good things in life for granted. I can’t control her future, but I can raise her right and instill good values in her. To do this, I try to be proactive and lead by example. Isabella is still really young, but I’m already trying to teach her why we need to be grateful for what we have. Also, what Daddy has is his and not hers. Life doesn’t owe you anything. If you want something, you need to work for it. In addition to tackling my own fears I have as a parent, I’ve also had to learn how, as a retirement planner, to help allay other people’s fears. Much like how your fears change as you go through life, a person’s financial fears shift as they approach retirement. During the working years, our fears revolve around “Am I saving enough?” “Can I pay my bills?” and “Will I be able to retire?” Once you retire, especially without a plan, there’s usually just one big fear keeping you up at night: “Am I going to run out of money or have to change the lifestyle I am accustomed to?” Consult your financial professional before making any investment decision. 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.

It’s October, and with Halloween at the end of the month, fear is a common theme. When Chapman University conducted their annual survey on fear a few years ago, they found that the most common fear in the United States was glossophobia, or the fear of public speaking. This was followed closely by acrophobia (fear of heights), entomophobia (fear of bugs), and aquaphobia (fear of drowning). When I was looking at this list, I realized I’m a pretty fearless guy. I don’t have any major phobias, and while I’m not a fan of heights, that’s more of a safety thing. You won’t find me on a 20-foot ladder. That said, I have my fair share of worries, and those worries have changed throughout my life. The things I worried about as a kid are very different than the worries I have as an adult, and the fears I had before my daughter was born pale in comparison to the things I think about today. Pre-kid worries are all about yourself, but ever since Isabella came along, my worries are about her. Will she be safe? Will she be happy? Am I making some huge mistake that’s going to ruin her childhood? Above all else, I worry about what kind of world she’s growing up in. I don’t just mean the dangers of the world. My fear is that my daughter will grow up to be entitled, that she’ll feel like the world owes her everything. You can’t reverse that. 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.

I’m not going to sugarcoat it; retirees do have a lot of worries. Fortunately, much like how I address my parental fears with Isabella, retirees can alleviate their fears by being proactive. Since you can’t control your future, you can proactively look at your financial situation and plan for the future in order to put yourself more in control of where you are today. When you feel confident with your retirement plan, those financial fears won’t keep you up at night anymore. While crippling phobias can be a problem, fear does serve a purpose. It motivates us to take action and create the life we want to live. 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. -Adam Wolf, CPA, CFP ®

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DOES VITAMIN D HELP OUR BONES AND OUR MUSCLES? A Previously Unknown Benefit of Vitamin D

As the weather cools and the days get shorter, we can’t rely as much on the sun for our daily dose of vitamin D. The primary function of vitamin D is regulating the amount of calcium and phosphate in the body. These nutrients are necessary for strengthening our bones and teeth, which becomes increasingly important as we age and our bones naturally become more brittle. While these benefits of vitamin D are well documented, did you know that getting your daily dose of vitamin D can also contribute to healthier muscles? A few years ago, researchers published a study that seemed to show that vitamin D could potentially help people gain muscle mass. While the research team said their results weren’t conclusive, their findings were certainly interesting. Vitamin D enters the body in an inactive form. It doesn’t become active until it comes in contact with the right enzymes in either the liver or the kidneys. To learn more about what factors affect this vitamin’s rate of absorption and activation in the body, researchers observed the levels of inactive vitamin D in 116 women ages 20–74. What they found was that women with higher muscle mass had lower levels of inactive vitamin D, while women with lower muscle mass had higher levels of inactive vitamin D.

The conclusion researchers drew was that active vitamin D might help optimize muscle strength. While that conclusion is not ironclad, vitamin D’s other well-known benefits still make it worth getting your daily dose. It can aid weight loss, enhance mood, support cardiovascular health, boost the immune system, and strengthen bones, among many other benefits. So, its potential muscle-boosting properties are just another reason to get more vitamin D. To get more of this important vitamin in your diet, try adding salmon, mushrooms, and even canned tuna to your menu. Also, as winter approaches, it might be time to start taking a vitamin D supplement. Whether you’re 20 or 74 years old, it’s never too late to find ways to strengthen your muscles.

“THE SUNDAY MORNINGMONEY REPORT” ON CBS

Tune in Sundays at 9:05 a.m.

Wondering what the latest trends in finances are these days? Thinking about the smartest decisions you can make with your savings? Or have you ever thought about what you really need to consider when it comes to retirement? And are you frustrated you just don’t have the time to deep-dive into all these questions? Well, now you don’t have to be confused any longer! If you want insights on the most important need-to-know concepts of today’s financial status, then all you have to do is tune in to “The Sunday Morning Money Report” on CBS Channel 47 to catch our very own Adam Wolf on “The Money Report.” During this condensed segment that begins at 9:05 a.m. every Sunday, Adam shares overviews that everyone needs to know about their money and how the world today is influencing it all. These informative and engaging segments give viewers just

Be sure to tune in to CBS Channel 47 at 9:05 a.m. every Sunday or set your DVR ahead of time to record the show so you never miss the useful financial information Adam Wolf shares each week!

the right jolt of financial news and helpful retirement tips they need to jump-start their week with confidence. The segments are short and if you need any additional information specific to your situation please give us a call.

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2 LOCATIONS TO SERVE YOU! Jacksonville & Fleming Island

Are You in the Red Zone and Ready to Score? How to Make a Touchdown in Retirement

Think about health care. It’s common for employers to cover at least a portion of health care expenses, but in retirement, a married couple’s health care can be $1,300 a month if they retire before age 65 and are looking for health insurance on the open market. If you can’t afford your health insurance costs, then you haven’t reached the retirement red zone yet. Understand your investments. Many people enter the retirement red zone with enough money saved to last them throughout their retirement. If you want to enter the red zone, you generally have to be comfortable with two options: Invest and hope it pays off, or dial down your market activity and save the reserves. There’s no right answer, but in retirement, you should feel comfortable doing at least one or the other.

Recognize your reason for retirement.

Football season is here! While you’re cheering for your favorite team, you shouldn’t let worrying about how close you are to retirement distract you. If you want to find out if you’re in the red zone — in this case, within 5 to 10 years of retirement — then here are the essentials to think about if you want to sail into the end zone without getting tackled before the goal line. Evaluate your income and budget. Your sources of income will be changing in retirement. Evaluate what they are and if they’ll be enough to sustain the lifestyle you want. In order to do that, create a budget of your spending. With fewer fixed-income sources in retirement, different than your working years, the everyday expenses become much more important to your monthly equation. Know where every dollar is going so you know what your fixed costs are versus your discretionary costs.

Have you created a plan for what you will do to fill your time in retirement? If you haven’t, then don’t make your way into the red zone just yet. It’s important to have a game plan for this part of your life so the void of not working doesn’t get the better of you. Successful retirement doesn’t just happen — it requires careful planning, just like every play on the football field. If you think you’re close to retirement, call our office so we can coach you all the way to the end zone. Even if you are already retired, we can create a smarter game plan for you, too, tailored to your current and future situations! We like to think of that as our “Super Bowl” strategy!

SUDOKU

Pumpkins aren’t just for pie — they make delicious soup, too! This fall, try your hand at this healthy soup recipe and warm up with a bowl.

Inspired by MinimalistBaker.com

INGREDIENTS

• 1 cup canned light coconut milk • 2 tbsp honey

• 1 tbsp olive oil • 2 shallots, diced • 3 cloves garlic, minced • 2 1/4 cups pumpkin purée (homemade or canned) • 2 cups vegetable broth

• 1/4 tsp sea salt • 1/4 tsp pepper • 1/4 tsp cinnamon • 1/4 tsp nutmeg

DIRECTIONS

3. Transfer the soup to a blender and

1. In a large saucepan over medium heat, sauté olive oil, shallots, and garlic for 2–3 minutes.

purée. Pour the blended soup back into the pan.

Solution on Page 4

4. Cook over medium-low heat for 5–10 minutes. Taste and add additional seasoning as desired, then serve!

2. Add the remaining ingredients and bring to a simmer.

2 LOCATIONS TO SERVE YOU! Jacksonville & Fleming Island

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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

Solution to puzzle on Page 3

• Are You Afraid of the Dark? PAGE 1

• A Previously Unknown Benefit of Vitamin D PAGE 2 • Watch Adam Wolf on “The Sunday Morning Money Report” PAGE 2 • Are You in the Retirement Red Zone? PAGE 3

• Classic Pumpkin Soup PAGE 3

• How to Hang Wall Decor Perfectly PAGE 4

DON’T GET HUNG UP ON HANGING YOUR DECOR

10 Tips for Achieving the Perfect Look

4. If you’re hanging something above a

If your living space harkens back to your college days of naked walls or too many movie posters, then it’s time to up your decor game. One of the best ways to polish a room and bring everything together is by hanging items on your walls. But if you’re not sure how to go about it, you can end up with multiple holes, peeling paint, or potentially crooked pieces that you’re not even sure look quite right. Instead, follow these 10 steps to achieve the aesthetic you want. 1. Lay your pieces on the floor and play with their arrangement. You’ll get exactly what you want without having to create more than one hole in the wall per piece. 2. To fill a horizontal space, hang two vertical pieces next to each other. To fill a vertical space, hang one horizontal piece on top of another. 3. Hang your pieces at eye level, around 55–60 inches from the floor. If you have high ceilings, you can increase that height by a few inches.

piece of furniture, put it about 4–6 inches above the furniture and choose pieces that are about two-thirds its width.

5. If you have a piece that’s loud or

eccentric, put it front and center! Making it a focal point instead of hiding it in a corner makes it feel intentional instead of awkward. 6. Even if you’re creating a gallery wall, aim to display no more than five pieces to avoid overwhelming or cluttering the space. 7. When hanging multiple pieces, space them 2–3 inches from one another. The goal is to make the pieces feel connected, not like they’re floating around separately. 8. Align pieces that aren’t the same size by their center point, not by the top or bottom of their frames. 9. If it’s safe to do so, hang each item by just one nail. This makes it much easier to get the piece level.

10. Hammer your nail into the wall at an angle, not straight in. The nail gets a more secure grip this way. When it comes to actually choosing your pieces, find what speaks to you or represents who you are. Decor can be a great conversation piece, and it’s essential to the ambiance of your home.

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2 LOCATIONS TO SERVE YOU! Jacksonville & Fleming Island