Broker Check

Inside Your Wealth - May 2021

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A Note from Marilyn and Ora 

May is the month where Spring is Blooming and we look forward to the Summer months! And we may be able to move around our communities, “masklessly”, according to the CDC’s recent guidelines for those who are vaccinated. With vaccinations, most of us feel that much “safer” and able to enjoy life, with family and friends without so much fear and anxiety. Would you say that we humans need connection? While Zoom/WEBEX/Facetime are nice technologies, the in-person hug/ elbow bump/ and wrist bumps make us feel that much better!

Here’s to the Summer of Hugs, where we can visit, eat from the same table, double-dip our guacamole, and maybe even sip your wine, just for a taste!

Enjoy this time, as we re-open, re-connect and re-imagine our lives and lifestyles the rest of this year. And while we may have some cautionary areas to observe, let’s look ahead to making 2021 the best year ever!

Best wishes and thrive,
Ora and Marilyn


Protecting Your Business from the Loss of a Key Person

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹  

While we know that life goes on regardless of the loss of any “indispensable” person, for a small business, the loss of a key person is not only a human tragedy, it can also represent the potential for significant financial loss. 

Though business owners cannot protect themselves from the unexpected and sudden loss of a key employee, they may be able to protect themselves from the financial consequences of such a loss through the purchase of what is called “key person insurance.”  Who’s Key?There is no legal definition for who a key person is, but he or she is someone whose loss, due to death or disability, would cause a material financial setback to the business. For example, a key person may be a top salesperson whose production would take considerable time to replace. Or perhaps it’s someone who is guaranteeing the business access to needed future capital. 

Key person insurance is a standard insurance policy that is usually owned by the business and whose pre-miums are paid by the business. 
These premiums are generally non-deductible. The benefits of the policy are paid to the business in the event that the insured key person dies or becomes dis-abled.² (Coverage for death and disability are separate policies.) 

Calculating Costs When considering the coverage amount the business owner should first calculate the financial impact of the loss of a key person. The next step is to ascertain the cost of insurance for that amount. With that information, the business owner will then be able to make a decision that balances his or her protection needs with what the business can afford. 

The proceeds may be used in any manner deemed ap-propriate. For example, the proceeds may be needed to meet day-to-day expenses, pay off debts, or to re-cruit new talent to the organization. For most businesses, their most important asset is their people. Yet, while they insure their other assets—such as buildings and cars—they often overlook the wisdom of doing the same for those individuals who are critical to their success. 

1. Brainyquote, 20172. Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments. #1-228719


Steps To Staying In The Zone 

Today, it can be hard to focus. How can you stay focused with all the distractions, anxiety, and uncertainty brought by the pandemic? Interestingly, the way to maintain your focus might be to unfocus your mind now and then. 

One school of thought urges us to overfocus. If we learn to intensely focus on one task, we can theoretically apply that focused intensity to multiple tasks and become more productive. Multitasking, though, is arguably a myth: our brains can only focus on one task at a time. As University of California-Irvine informatics professor Gloria Mark told NPR, "Every activity we do uses a different set of cognitive resources," and if we try to do two or three activities seemingly at once, we end up depleting our cognitive energy instead of focusing it. 

We can also do this through overfocusing, which is a conscious effort to rigidly absorb and perform every detail of a task. Paradoxically, cognitive researchers have concluded that a little idleness is good for our focus, and that our brains need the occasional break. Prof. Mark and Dr. Srini Pillay, a TED-talking neuroscientist and psychiatrist, offer six steps for optimal focus: schedule breaks in your workday; day-dream positively during the workday; block out distractions before diving in deep to something; schedule your most intense work for the time of day your brain and body seem to work best for you; allow your brain time to read, play, and engage in new hobbies; and take the occasional "digital sabbath" from being online.  #1-0532553 

Taking Control of Your Worth Re-Invention 

Each time a major shift happens in our lives—leaving a job or a relationship, moving, losing a loved one—we have to take control of who we are and who we want to become or we may risk not reaching our full potential. 

It is a choice to reinvent our-elves. It’s not an easy decision, but one that is made with deep consideration, planning and personal vision. Much like businesses reinvent themselves, we must also. It will take time and investment of energy, mindset and money. Make a plan, ask for support, and take action. Be fearless and know that the first step you take is the first result to re-invention. #1-327498 

Age is no barrier. It’s a limitation you put on your mind.  —Jackie Joyner Kersee 
The way to get started is to quit talking and begin doing. —Walt Disney 
Champions keep playing until they get it right. —Billie Jean King 

Grilled Pork Chops With Fresh Nectarine Salsa 

A zippy, sweet and spicy nectarine salsa goes really well with pork, particularly grilled pork, in this favorite summer recipe


2 nectarines, pitted and diced

1 ripe tomato, seeded and diced

¼ cup diced onion

2 tablespoons chopped fresh cilantro

2 tablespoons fresh lime juice

¼ teaspoon crushed red pepper flakes, or to taste salt to taste

1 teaspoon ground cumin

1 teaspoon chili powder

Step 1: Preheat an outdoor grill for medium-high heat. Lightly oil grate, and set 4 inches from the heat. 

Step 2: To make the salsa, place the nectarines, tomato, onion, cilantro, lime juice, and red pepper flakes in a bowl; toss to blend. Season to taste with salt. Cover, and refrigerate 30 minutes to blend flavors. 

Step 3: Stir the cumin, chili powder, salt, and pepper together in a small bowl. Place the olive oil in a small bowl. Brush the pork chops with oil, and season both sides evenly with the cumin mixture. 

Step 4: Place pork loin chops on the preheated grill. Cook until lightly browned and juices run clear, about 4 minutes on each side. Place pork chops on serving plates, and top with a generous spoonful of salsa.