June 14th - Flag
is a day for all Americans to celebrate and show respect for our flag, its
designers and makers. Our flag is representative of our independence and our
unity as a nation...one nation, under God, indivisible. Our flag has a proud
and glorious history. It was at the lead of every battle fought by Americans.
Many people have died protecting it. It even stands proudly on the surface of
June 18th –
Father’s Day is a day to enjoy time with Dad and appreciate all he does
for you. What Dad really wants is healthy, happy and successful kids. And, he
wants you to spend a few moments with him on Father's Day. Today's life style
is busy for both dads and kids. So, a little time with dad on Father's Day is
just what he wants. A Father is more than the biological paternal source
of our being. It is the person who cares and provides for us. It is the man
who helps to set the standards, the family values and the example. So, add to
this group, step fathers and other men who willingly and eagerly accept and
cherish the role. Whether biological, adopted or informally, if they are the
father figure to you, give him some recognition today and don't hesitate to
call him "Dad".
21st - Summer Solstice is sometimes referred to as
"Midsummer" Litha". It's the longest day of the year. The
amount of daylight only goes down from here...for the next six months. Summer
Solstice is the meteorological start of summer. It's time to enjoy vacations,
great weather, pools, baseballs, and everything else that goes along with the
favorite season of kids and most adults. Grab your favorite beverage and
enjoy the season, because for many of us it is all too short.
Some people set a particular age when they want to retire. It
might be more helpful to look at your financial schedule to establish a
retirement date. Just because you want to retire on a certain birthday
doesn’t mean you’ll be quite financially ready to do so. After all, there’s
more to retirement planning than just paying off your mortgage.
Consider the following list of 16 things to do before the big
- Pay off all
major debt obligations, including auto loans, credit card balances and
the mortgage for your primary home and any vacation properties.
life insurance needs -- do you need a death benefit for your spouse, or
do you have enough for both of you in retirement income sources? Do you
want to ensure a legacy for your children or grandchildren?
long-term care insurance -- discuss your current situation and needs
with a financial professional to help determine the long-term care
insurance options that may be appropriate for you.
- Consider an
additional source of steady and reliable income, which may mean
repositioning a portion of your investment portfolio to protect those
assets from market risk and create a lifelong income stream through the
use of insurance products, such as annuities.
- Conduct a
house check -- see what major repairs may be needed at some point
during retirement, such as a new roof, water heater or HVAC system.
Have appliances checked out for an estimate of how long they may last.
- Do any
remodeling that’s been on your mind for a while; consider keeping a
spare bedroom for future live-in help.
- Get your
house outfitted to accommodate your needs in the future. It may seem
unnecessary now, but it’s best to make these upgrades before you’re on
a fixed income. Consider adding handrails to the porch stoop, grab
handles in the bathroom, rearrange kitchen cabinets so the things you
use the most are the easiest to reach, replace doorknobs and faucets
with lever handles that are easier to open; if your house has several
stories, consider moving your bedroom to the ground floor.
- Assess how
long your cars should last; consider trading in/purchasing a new one if
it looks like you might be saddled with repairs on an older car.
- Put together
an emergency fund to help cover costs likely to be incurred later on,
from replacing the roof to buying a new car. Even pad it for financial
support you may need to provide your children or grandchildren in the
- Work with a
financial advisor to conduct a full assessment of current and future
expenses to see what can be eliminated (work clothes and dry cleaning),
new expenses (taking up golf) and expenses that will “trade out” as you
age (travel budget for more health care spending).
- After you
figure out how much your expenses could potentially change over the
years, develop a budget for each phase of retirement.
- Work with a
financial advisor to help coordinate Social Security benefits with your
personal savings and investments withdrawal strategy. It’s important to
know that financial advisors are able to provide you with information
but not guidance or advice related to Social Security benefits.
downsizing now or in the future, based on lifestyle plans. For example,
if you plan to travel extensively, it may be easier to maintain a condo
rather than a large house. If you plan to settle in, garden and spend
time at home, keeping the family house may make more sense. However,
create a contingency plan for later years in case one or both spouses
need assisted or full-time care.
- Even if you
don’t downsize, consider making an inventory of your possessions and
getting rid of clutter you don’t need and passing on unused furniture
and housewares to your children.
- Work with an
attorney to establish an estate transfer plan and communicate it to all
family members. Review it every few years to ensure it’s still relevant
and reflects your wishes.
paperwork for medical directives and powers of attorney.
This is quite a laundry list, and it’s likely that once you
get started, you’ll think of other things you should do. But consider the
reassurance you’ll enjoy if you get most of these things done before you
Guarantees and protections provided by
insurance products including annuities are backed by the financial strength
and claims-paying ability of the issuing insurance carrier.
investor requests a distribution from his traditional IRA and then
contributes it to his Roth IRA within 60 days after the distribution,
investor asks the trustee/custodian to transfer traditional IRA assets
to his Roth IRA at the same or a different financial institution
properly rolled over within 60 days, assets are not subject to the 10
percent additional tax for early distributions
part or all of the distribution from the traditional IRA may be
included in the investor’s gross income and subject to ordinary income
the investor is required to take an annual minimum distribution (after
age 70½) from his traditional IRA, that amount may not be transferred
to the Roth IRA.1
If you are thinking about
converting your traditional IRA to a Roth, give us a call, and we can help
you determine whether this is the right step for you. We also can help you
with the conversion process itself.
June 13, 2016. “IRA FAQs - Rollovers and Roth Conversions.” https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-rollovers-and-roth-conversions.
Accessed April 6, 2017.
Microsoft co-founder Bill Gates reads about 50 books a year,
demonstrating his lifelong love of reading and learning.1 While
many people complain they’re too busy to read, retirement – and summer –
present an ideal time to stretch your imagination with books. Here are a few
recommendations for summer reads:
- “The Woman
Next Door” by Yewande Omotoso (Picador; 2017) – A female take on
“Grumpy Old Men,” this charming novel depicts the collapse of a feud
between two elderly women — one white, one black — in an upscale suburb
in Cape Town, South Africa.
- “The Old
Man” by Thomas Perry (Mysterious Press; 2017) – Crime fiction involving
a seemingly harmless retired widower who lives alone with two big dogs.
But as an ex-military intelligence operative, Dan has multiple driver’s
licenses, savings stockpiled in banks across the country, two Berettas
hidden in the bedroom closet and armed mercenaries out to kill him.
- “Autumn” by
Ali Smith (Pantheon; 2017) – The story of friendship between a young
art historian and an aging songwriter as they grapple with personal
predicaments in an increasingly perilous world.
for Older Eyes” by James L. Chen (Springer; 2017) – This guide is
written for aging backyard astronomers, providing keen insights into
lifestyle adjustments designed to help older adults enjoy star gazing
1 Katherine Rosman. The New York
Times. Jan. 4, 2016. “Bill Gates on Books and Blogging.” https://www.nytimes.com/2016/01/04/fashion/bill-gates-gates-notes-books.html?smid=tw-nytimes&smtyp=cur&_r=0.
Accessed March 29, 2017.
The first Father’s Day celebration was in Spokane,
WA on May 18, 1910.
Elvis Presley introduced his new single,
“Hound Dog” on June 5, 1956.
June 7, 1990, Universal Studios in Orlando
June 14, 1954, President Eisenhower signed the
bill that placed the words “under God” in the Pledge of Allegiance.
June 29, 2007, Apple release its first mobile
phone, the iPhone.