Broker Check

Inside Your Wealth - February 2021

A Note from Marilyn and Ora 

Best Wishes as We Celebrate February! 

We hope your year is off to a good start and that you have many reasons to celebrate this month: Ranging from Superbowl Sunday, Chinese New Year (the Year of the Ox), to Valentine’s Day, Lincoln’s and Washington’s birthdays, Ash Wednesday, to the beginning of Mardi Gras among others!

This month is also designated American Heart Month which is a great reminder for you to live a heart-healthy lifestyle. It’s also Black History Month, established by Carter G. Woodson, a pioneer in the studies of African American History.

We have many reasons to enjoy this winter month, and we hope that you see more reasons to smile and enjoy these next 28 days!

Best wishes, Marilyn and Ora 


Eight Mistakes That Can Upend Your Retirement 

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible 

  1. No Strategy: Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get there—and if you’ve even arrived. Creating a strategy may increase your potential for success, both before and after retirement. 
  1. Frequent Trading: Chasing “hot” investments often leads to despair. Create an asset allocation strategy that is properly diversified to reflect your objectives, risk tolerance, and time horizon; then make adjustments based on changes in your personal situation, not due to market ups and downs.1 
  1. Not Maximizing Tax-Deferred Savings: Workers have tax-advantaged ways to save for retirement. Not participating in your employer’s 401(k) may be a mistake, especially when you’re passing up free money in the form of employer-matching contributions.2 
  1. Prioritizing College Funding over Retirement: Your kids’ college education is important, but you may not want to sacrifice your retirement for it. Remember, you can get loans and grants for college, but you can’t for your retirement. 
  1. Overlooking Healthcare Costs: Extended care may be an expense that can undermine your financial strategy for retirement if you don’t prepare for it. 
  1. Not Adjusting Your Investment Approach Well Before Retirement: The last thing your retirement portfolio can afford is a sharp fall in stock prices and a sustained bear market at the moment you’re ready to stop working. Consider adjusting your asset allocation in advance of tapping your savings so you’re not selling stocks when prices are depressed.3 
  2. Retiring with Too Much Debt: If too much debt is bad when you’re making money, it can be deadly when you’re living in retirement. Consider managing or reducing your debt level before you retire. 
  3. It’s Not Only About Money: Above all, a rewarding retirement requires good health, so maintain a healthy diet, exercise regularly, stay socially involved, and remain intellectually active.



 Top New Digital Tools for Small Businesses 

Technology has not only shrunk the tools we use, but it has also given small businesses the power to operate like big businesses. Technological tools can help small businesses get better organized, efficiently manage their finances, or support customer service and win new business. 

New Digital Tools that Can…Organize You 

Evernote: For the creative mind, this app allows you to capture great ideas and track them to completion. This tool can help you collect, discuss, and present information important to you, your staff, and your clients. 

Tripit: This app consolidates all your disparate travel itinerary information in one place, regardless of what website you used, or how many you used, to plan the trip. Tripit also provides delay alerts, weather updates, maps, and directions.  

Managing Finances 

Expensify: This app keeps track of business expenses and mileage and can file receipts and expense reports with the click of a button. 

InDinero: This tool syncs up your bank accounts and credit cards and provides a real-time financial dashboard to help track cash flow and manage finances.

Build Your Business 

LocalVox: LocalVox is a marketing app that helps you build your brand online. It allows you to publish to online channels and optimizes organic searches. 

Perka: This app helps local businesses promote and reward customer loyalty. This site helps you keep a pulse on your customers and work with your staff to track and respond to customer issues. 

And Stay Connected to Those Closest to You 

Couple: Business owners can sometimes forget about their first love. Use this app with your spouse or partner to stay connected and remember important events. 



Raising Healthy Children

"The attitudes and habits formed in childhood can determine your child’s health in his or her adult years. Here are some ideas for parents who are looking to raise healthy children that grow up to be healthy adults."

 One of the greatest legacies any parent can give a child is a framework for living an enduring healthy lifestyle.

It is hard to underestimate the power parents have on their children’s development, which is why parenting is such a profound responsibility. 

Start Early: Good eating, sleeping, and exercise habits should begin early in childhood. It’ll save you (and your adult child) from the difficulties of breaking bad habits later on. 

Be Family-Centric: Make healthy living a family affair. Consider the impact even small actions can have. Did you know that kids who eat more frequently with their families tend to choose healthy foods like fruits and vegetables over sugar-sweetened beverages and fried foods? Likewise, kids who eat more often with their families generally have a lower rate of eating disorders and less weight concerns in the future.1 

Be Healthy: Plan for Healthy Meals and Snacks. Modern lives are busy, but try to plan ahead by stocking healthy foods and snacks in the house. You may even want to cook a few meals during the weekend for the week ahead.

If you’re looking to improve dieting behaviors, be sure to move slowly with these changes. The less the kids notice, the more effective the transition will likely be.

Expose your child to different foods by pairing them with foods he or she already likes. 

Be Active: It may be harder than ever to tear children away from the phone, computer, and TV, but it’s crucial that children engage in active play. It doesn’t have to be an organized event. Challenge your child to a push-up contest, or offer to play goalie so he or she can practice soccer kicks. Connect physical activity to a positive experience. 

Be a Role Model: Lessons are difficult to teach if the teacher is not practicing what he or she preaches. Be sure to lead by example.



Wealth Tip - Wealth Preservation   

Building wealth for your retirement is but one step. Keeping it for the next generation(s) is yet another goal. We all want to take care of our families first. However, if there is a ‘surplus” is there a cause that you care about deeply? 

The Giving Pledge

is a group of ultra-wealthy families like Warren Buffet, Bill and Melinda Gates, and Michael Bloomberg, who have gifted or plan to gift much of their wealth to charitable causes, upon their passing. They have taken care of family with meaningful gifts, but not enough to keep them from being active citizens.

What are your wealth preservation goals and objectives?  Do you have your estate plan in place? 

Are your documents updated for changes in your family situation? 

“We make a living by what we get, but we make a life by what we give.”

Winston Churchill

 “If you’re in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”

Warren Buffett 


Movie Night Munchie Mix

Streaming movies and binge-watching videos have become a pandemic era past time. Watching shows at home has some advantages. For one, if hunger strikes, you can snack. The Gaston Gazette provided this indulgent recipe for a sweet and savory spin on an old favorite: movie theater popcorn.5

3 cups Corn Chex cereal
3 cups Rice Chex cereal
5 tablespoons butter, cubed
3 tablespoons white cheddar popcorn seasoning
1 package (3.3 ounces) butter-flavored microwave popcorn, popped
2 cups of your favorite bite-size chocolate candies
1 cup red licorice bites

In a large microwave-safe bowl, combine the two cereals. Place butter in a small microwave-safe bowl and microwave on high for 20-25 seconds or until just melted. Whisk in popcorn seasoning until smooth. Pour butter mix over cereal; toss to coat. Microwave, uncovered, on high for 2-3 minutes, stirring after each minute. Immediately spread onto waxed paper; cool completely. Stir in popcorn and your favorite bite-size chocolate candies.

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