Wolf Retirement Navigation - September 2021

RET IREMENT NAV IGAT ION

MONTHLY

4230 Pablo Professional Court Suite 101 Jacksonville, FL 32224

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

As seen on:

September 2021

Labor Day 2021 will be a well-deserved day of rest for all of us here at Wolf Retirement Navigation and should be for all of our retiree clients too! Labor Day, created by the labor movement in the late 19th century, pays tribute to the efforts, achievements, and contributions of American workers. At Wolf Retirement Navigation, our team works tirelessly to help each and every client be successful in retirement — here, that means when you are able to be happy in retirement without worrying about money. Our team collaborates to help protect our clients’ money against significant market corrections and to assist clients in making wise investment decisions that will yield the potential for solid returns. We implement various tax strategies to keep our clients’ pockets fuller than Uncle Sam’s pockets and incorporate a variety of income planning schedules to keep the money flowing. I am a firm believer that it is the employees within a company who drive the success of that company. When I visit other businesses, I take a look at their associates and their demeanor, willingness to assist, customer service, skill level, and passion for the job; that tells me all I need to know about that business. The same is true here — my team is Wolf Retirement Navigation. They do a tremendous job day in and day out and complement one another to make our days productive, fun, and successful. They are the face of the business. When you are retired, every day can feel like Labor Day or a weekend, and that is a glorious thing! Retirees worked extremely hard to get where they are today; and, let’s be honest, retirement looks good on them. But what do they do all day? Observing Labor Day Pleasure in the Job Puts Perfection in the Work

One thing that I do, and I highly recommend it for our retirees, is to set new and improved goals for health, family, spirituality, wealth, and business. After 43 years, I have found that you must make yourself your own top priority in these aspects of life. If you are not number one in your own book, you cannot be your best for others, including your growing and aging family and friends who rely solely upon you. In my own situation, I have clients who have entrusted me with navigating their retirement. It’s my purpose and a position I value very highly. When my family and clients have health scares and I am their number one support person, my role is more important than ever. People rely on me, and I must be able to trust myself and rely on my own self before I can assist others. Setting aside time in your day to focus on building and developing yourself, your talents, your skills, and your hobbies will reap many benefits. There is never a time to stop learning and growing. We are dynamic beings, and change and development are good for us. Here at Wolf Retirement Navigation, we will continue to labor — just not on Labor Day — and we will have a fantastic time while doing it. We are heading in the right direction with continuous improvement and a very positive, glass-overflowing outlook on life! Cheers!

-Adam Wolf, CPA, CFP ®

Investment Advisory Services offered through Coyle Capital, LLC, a Registered Investment Advisor. Wolf Retirement Navigation LLC and Coyle Capital, LLC 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. 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 references to protection of benefits or lifetime income generally refer to fixed insurance products. They do not refer, in any way, to securities or investment advisory products or services. Fixed insurance and annuity product guarantees are subject to the claims‐ paying ability of the issuing company and not offered by Coyle Capital, LLC.

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Don’t Fall This Fall! 3 Tips for Fall Prevention

stiff. The best way to strengthen your reactions and improve your balance is to move your body. A physical therapist can help you develop a routine that targets your balance while strengthening your muscles and joints. Improve Your Home Your home just might be your biggest threat when it comes to falls, so improve it with a few changes! Install grab bars and railings on steps and in the bathtub for extra support. Grips on the bottom of the bathtub and on slippery surfaces can give you a secure footing, while lighting along the hallway and in stairwells can better illuminate walkways. Even something as simple as moving a table or decor item out of the hallway can be beneficial! Review Your Medicines Sometimes medication can influence balance and movement. Talk with your doctor about the side effects of your medication and adjust accordingly. You may need to consider alternatives, but if that’s not possible, physical therapy can provide assistance. It’s designed to help you improve your balance and get stronger — which can lower your risk of falling.

September marks the start of fall , but it also serves as an important reminder about falling .

Falling is one of the greatest dangers seniors face. As adults age, take more medication, and lose some mobility, it becomes increasingly difficult to stay upright or regain balance — even when tripping over the smallest object. The Centers for Disease Control and Prevention (CDC) estimates that 1 out of 5 falls cause serious injuries, including traumatic brain injuries. Falling can also increase a senior’s chance of falling again.

But for as common as it may be, falling doesn’t have to be your norm. You can lower your risk of falling and injury with a few simple steps. Move More Your body was designed to move! When you don’t move your body enough, which can happen when you age, your muscles and joints can become weak and

You can learn more about fall prevention and risks online at CDC.gov.

CONFUSION BE GONE

REQUIRED MINIMUM DISTRIBUTIONS EXPLAINED

or is considered to be tax free. Tax-free examples may be qualified distributions from a designated Roth account. It should be noted that RMD amounts cannot be rolled over into other tax- deferred accounts, and an excess distribution of an RMD for one particular year cannot be applied to an RMD for an upcoming or future year. If the account owner of a retirement plan that requires an RMD passes away before the RMD has begun on the account, the entire amount of the owner’s benefit is generally distributed to a qualified beneficiary. For more information or assistance with an RMD, call us today. We can simplify the process for you!

the required amount for the RMD, then you may potentially be forced to pay a 50% excise tax on the amount that is distributed, and then you must fill out forms to be submitted with your next tax return. If you own more than one IRA account that requires an RMD, you are able to take a distribution from each one or any one that you choose. However, an RMD must be separately calculated for each 401(k), 403(b), et cetera, that is not an IRA and cannot be combined with your IRAs in determining how much and which account to take the distribution from. If you would like to withdraw more than the required amount, it is important to keep in mind that the amount in excess will be considered taxable income except for any portion that was already taxed

The minimum amount that a retirement plan account owner must annually withdraw beginning when they turn 72 (70 1/2 if you turned 70 1/2 before Jan. 1, 2020) is known as a Required Minimum Distribution (RMD). But what kind of retirement plans have RMDs? All employer-sponsored retirement plans, including 401(k) plans, 403(b) plans, 457(b) plans, profit-sharing plans, traditional IRAs, and IRA-based plans, require RMDs. It should be noted that RMDs are required in Roth 401(k) accounts. However, while the account holder is alive, the RMD rules are not applicable in Roth IRAs. The amount of your first year RMD is approximately 4% of your year-end balance of your account, and the percentage increases each year.

In the event that you do not take any distributions, or if they do not meet

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How Are You Settling Into Retirement? YOUR RETIREMENT YEARS

couch and channel surfing while snacking uncontrollably. Pick a Hobby Now is the time to pick up those hobbies you never had time for because of meetings, your job commute, and family life. Have you always wanted to learn how to be an expert chef? Find a cooking class in your area. Were you convinced deep down you were a master woodworker? Now is your time to carve out some fun! Explore your creative side and pick up something new or polish up on your old passions you never quite had time for. Meet Up With Friends During your working years, you didn’t have nearly as much time to meet with friends as you do in retirement — and when you did, that time was short lived. Set up a regular time to sit down for coffee, lunch, dinner, or a game of cards to enjoy with

those friends. This will keep you busy, connected, and engaged with the people who matter the most to you. Whatever it is you choose, stay active! Make sure to find something you are passionate about to keep you involved and happy. The world is yours to explore!

You have likely thought about your retirement many times over the years, planning trips and dreaming up ways to spend all that free time you’ll have. However, you probably did not think of the emotional difficulties that may arise with it as well. Has the retirement lifestyle been a bit of a difficult adjustment for you? For many, it can be. Long gone are the days of early morning wake-ups and a mad rush to the office where you would spend eight long hours. There is no more sitting in rush hour traffic, waiting in long lines at the grocery store to pick up something for dinner. Your time is now officially completely yours. What to do with it all?! While this can be challenging for some, you can ease your way into the retirement lifestyle in a few ways that do not include spending all your days sitting on the

SUDOKU

INGREDIENTS

• 2 tsp Dijon mustard • 4 tsp olive oil, divided

• 1 1/2 lbs boneless, skinless chicken thighs • 1 tsp salt, divided • 1/2 tsp black pepper, divided • 1/2 cup apple cider

• 3 sweet apples, cut into 1/2-inch slices • 2 tsp fresh rosemary, chopped, plus more for garnish

DIRECTIONS

1. Sprinkle chicken with 1/2 tsp salt and 1/4 tsp pepper. Set aside. 2. In a small bowl, combine apple cider and mustard. Set aside.

3. In a large skillet over medium heat, warm 2 tsp olive oil. When shimmering, add chicken thighs top-side down. Cook for 4 minutes, then flip and cook for 4 more minutes. Transfer to a plate and cover with foil. Wipe the skillet clean. 4. Heat the remaining oil in the skillet, then add sliced apples, remaining salt and pepper, and rosemary. Cook for 5 minutes. 5. Return the chicken to the skillet and add apple cider-mustard mixture. Cook for 5 minutes, then serve sprinkled with rosemary!

Solution on Page 4

Inspired by WellPlated.com

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

INSIDE

Solution to puzzle on Page 3

• Observing Labor Day PAGE 1

• Celebrate Fall Prevention Month With These 3 Tips PAGE 2 • Required Minimum Distributions Explained PAGE 2 • How Are You Settling Into Retirement? PAGE 3

• One-Pan Apple Cider Chicken PAGE 3

• The Best Places to Visit in Croatia PAGE 4

THE BEST PLACES TO VISIT IN CROATIA Your Next Affordable Vacation Spot!

Split The second largest city in Croatia (the first being Zagreb) is Split, founded by a Greek colony in the second or third century B.C. Historically, Split enjoyed being an independent city-state many times, and that free spirit is very tangible, as Split is very different from any other city in Croatia. With well-preserved Roman architecture and a multitude of museums, it’s no wonder Split is also a UNESCO World Heritage Site. Although Croatia was among the first UN countries to open its doors to Americans, always be safe and check the newest regulations before booking your travel. Hopefully you enjoyed learning about this unique, wonderful country!

beautiful — and you’ll be able to explore many historic structures nearby. Nature also has plenty to offer, with secluded coves and beaches nearby for exploration. Plitvice Lakes National Park Near the border with Bosnia-Herzegovina, you’ll find one of Croatia’s oldest and most beautiful national parks and a UNESCO World Heritage Site. Although it’s quite the drive, you won’t regret it — the park has an outstanding and picturesque series of tufa lakes and caves, all connected by waterfalls. With over 16 interconnected cascading lakes, it’s unlike anything else you’ll see. If you get hungry, you’ll love the nearby National Restaurant Licka Kuca, which is famous for its traditional Croatian preparation of lamb under a cast-iron bell.

This gorgeous coastal nation will absolutely blow you away with its beautiful architecture, landscapes, and delicious blend of Mediterranean and Slavic cuisine. Even better, it’s a fairly affordable place to visit! While many travelers land in Zagreb, the beautiful capital city and cultural hub, you wouldn’t want to miss these destinations. Dubrovnik As the “Pearl of the Adriatic,” this coastal city is one of the most popular tourist destinations in the Adriatic Sea. It’s a beautiful city, featuring 13th century walls, marble stone streets, Gothic palaces, breathtaking churches, and an imposing fortress. There’s so much to do in the town square — one of Croatia’s largest and most

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