November/December 2020
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NOVEMBER/DECEMBER 2020 She told me recently, she feels like an A MESSAGE FROM KIRK, “adult” now because she had to pay her first utility bill. What it would be PAUL, & JOSH like to be 19 again! Ilana is taking her The Cassidy’s: Trae started school with high school classes online. Her favorite a Hybrid model. The virtual days are class, AP Psychology. Who would have long; however, he’s pulling all A’s. He’s thought? She recently made the Varsity been training for baseball with hopes Volleyball team at Skyline High School, of playing DI College Baseball. He’s ranked 3rd in the state last year. Pretty working with Harrison Wenson (former awesome for being 5’1” tall. Michigan Catcher and Burlington Bees The Jackson’s: Catcher which is the A League to the We officially have a 1 Los Angeles Angels) and enjoying year old. She celebrated as any 1 year KIRK CASSIDY PAUL METLER old should, with a few different cakes every minute of it. Sam is finally able to President, IAR President, Psy. D, train full time in gymnastics. We opted and some ice cream. Even though the MBA, IAR days are getting shorter and the weather for homeschool this year due to the Phone: uncertainty of school and she’s training is turning, she still loves to be outside as much as possible. Now that she’s 866-211-1904 in the gym 21 hrs. a week. Both kiddos Fax: are thriving and enjoying a change in mastered walking, she continues to find pace. We’ve all been healthy and look more things to get into which keeps us 248-327-0845 forward to returning to NORMAL. very busy. We’re not looking forward Email: to the cold weather when she will have [email protected] The Metler’s: Even though the to stay inside all day; prayers for a pandemic has made college difficult, smooth Fall and Winter are very much Mara was excited to go back to U of M appreciated. and to share an apt. with her friends. SENIOR PLANNING ADVISORS WWW.SENIORPLANNINGADVISORS.COM RICK REED, MLB #23 Remembering a Hometown Boy... We at Senior Planning Advisors extend in the Appalachian League in 1973. Another big thrill for Reed was our condolences to Rick Reed’s wife, Rick began his MLB umpire career in appearing in “For Love of the Game,” a Cindy, and their family. Rick was a the American League, and went on to 1999 movie that featured Kevin Costner client and a friend. become an MLB umpire crew chief in as an aging Tigers pitcher. Rick had a 1999 until he retired in 2010. He spent speaking role as the home plate umpire. Rick was a Detroit guy, a graduate of almost 30 years wearing number 23, Osborn High and Eastern Michigan working 3431 games. After he retired, for several years Rick University, and son of a long time continued to work for the league office, Detroit policeman. Sadly, the Detroit Rick was behind the plate for Game observing umpires, and was a regular News reported on July 20th of this 6 of the 1991 World Series in which in the Comerica Park press box. He year, “Rick Reed, a Detroit native and Kirby Puckett hit the walk-off home run also oversaw local officiating for the longtime major league umpire who to send it to Game 7. He also umpired Summit League in college basketball. worked the last game at Tiger Stadium in two All Star games and multiple Most recently, lazy cottage days in in the fall of 1999 and the first game post season games. He was on the field Oscoda, Michigan, where family at Comerica Park, Opening Day 2000, when Dave Righetti of the Yankees and and friend times flourished, filled his died last Thursday. He was 70.” Joe Cowley of the White Sox threw no- summers. hitters, and George Brett got his 3000th Rick first got interested in umpiring career hit in 1992 as Kansas City shut For Rick, it was always about the love while a student at EMU in the 1970s. out the Angels. of the game. As a hometown boy... He His professional umpiring career began represented us well. Advisory Services offered through Strategic Investment Advisors. An SEC Registered Investment Advisory Firm. Content prepared by Kara Stefan Communications and Advisors Excel. We are an independent firm helping individuals create retirement strategies using a variety of insurance and investment products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic financial planning strategies and should not be construed as financial advice. All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the 2 desired reference. That’s a reputation the National Club Association (NCA) is hoping to change. In an article, the NCA president and CEO reiterated reasons why country clubs became popular in the first place. He touts common interests among friends, philanthropic and community leadership, social activities that bring families together, an appreciation of beautiful acreages of well-preserved land and traditional THE GOOD LIFE architecture, as well as the value of in-person interactions among family and friends.2 America’s Country Club Culture 1 Charles F. McElwee. City Journal. June 7, 2019. “Death of the Country Club.” https://www.city- Some say the Great Recession killed membership rolls are no longer following journal.org/country-clubs. Accessed Aug. 10, 2020. the country club. Between 2005 and in the footsteps of their parents.1 2 2015, the number of golf courses and Henry Wallmeyer. National Club Association. July 31, 2018. “5 Myths About Private Clubs.” country clubs dropped by 5%. Money isn’t the only reason country https://www.nationalclub.org/news/2018/07/31/ clubs are on a downslide. Fewer young home_news/5_myths_about_private_clubs/. Despite having higher levels of couples are opting to have children, Accessed Aug. 10, 2020. education, many millennials are and there are a lot more options financially disadvantaged with lower now for recreation and exercise than wage growth, high housing prices and golf and tennis. Plus, there is the student loan debt. perception that private clubs represent an elitist, exclusionist lifestyle. This means the up-and-coming generations that generally backfill club HOW TO ... Discover Your Priorities Through Spending Habits Take a look at your past 30 days of spending and see if you spot any patterns. Our spending usually reflects our priorities — and you may be surprised to discover yours. How much do you spend in these areas: • Convenience — precooked meals, • Technology — phone, tablet, food delivery, personal trainers, house computer, headphones, video cleaning, yard maintenance, etc. games and equipment • Entertainment — cable TV, • Education — tuition, online classes, streaming channels, music, dining tutors, certifications, degrees, books out, season tickets, books, craft • Homemaking — cooking, supplies, toys, etc. gardening, decorating, furniture, • Recreation — fitness and sports flooring, window dressing, painting equipment, classes, camping gear, • Grooming — apparel, shoes, salons, season passes, club memberships, etc. hair products, cosmetics • Travel — airline tickets, hotels, vacation rentals, rental cars, taxi and Uber rides 3 DOLLARS & SENSE Pros & Cons: Pension or Lump Sum Payout? The 2020 pandemic has resulted in economic strain for many American corporations — even long-established entities. Therefore, it’s important for would-be pensioners to consider their • Pros: Guaranteed income for life • Cons: Market risk/risk of loss, employer’s long-term financial stability • Cons: Risk of guarantor financial variable income, risk of running out in light of the country’s circumstances. instability (and reduced benefit), no of money hedge against rising inflation, no Note that while the federal Pension death benefit for heirs As you can see in this hypothetical Benefit Guaranty Corporation (PBGC) example, a conservative rate of return may offer relief when an employer Lump Sum, Invested could work as long as the investor dies becomes insolvent, this guarantee works When offered a lump-sum option, by age 82. If he lives beyond that age, it much like filing for bankruptcy. In other the amount is generally lower than would be necessary to achieve a higher words, it may pay out only a certain 1 the expected total of lifelong benefits. sustainable rate of return. In today’s percentage of promised benefits. However, a lump offers the opportunity market, it can be tricky trying to find a to invest for a higher return over the long high-yielding income vehicle without The following hypothetical example haul. Note that if the retiree doesn’t direct taking on too much risk. gives you a snapshot of what you could the lump-sum distribution into an IRA or expect in terms of risks and benefits other qualified account, he’ll owe taxes Whether it’s best to take a lump sum or when deciding between pension income on the full amount in the year received. take pension income depends on your and a lump-sum payout. In this scenario, personal circumstances, and you should a single pensioner qualifies for $1,625 a Age 65, Lump Sum Distribution: speak with a qualified professional to month for life, or a one-time, lump-sum $300,000 invested for $19,500 annual help you make that decision.