Hopeful Followers,
As summer begins and we are outside more, especially in the early morning or evening on hot days, breathe in and out, as you explore the buzz of bees, the chirps of birds, and the sound of pulsing life. You are still here even though an important part of you is gone. May you find joy in each day, even if for a moment.
Carolyn
❝
““Everything you love will probably be lost, but in the end, love will return in another way. Embrace each day as a day of love and hope.”
Echoes of Insight
This Month’s Financial Tip
Importance of Risk Management
TIP: Understand what investments are best for you and how they work.
We are often asked how much income can I receive from my assets without risking my money to the market. We have a client, Jan, whose husband left her with a sizable retirement 401k. She is retired and needs income from the 401k (rolled into an IRA) to meet her living expenses.
Her biggest concern was that she did not want to deplete her account and the volatility in the market worried her. We designed a portfolio made up of “buffered” accounts linked to indexes and stocks. The big question is what are buffers – also called “defined outcome investments”? Buffers are investment tools that can protect against a specific percentage of losses over a set period. Buffers can protect against losses up to 100%. or as low as 10%. In the first 2-3 years of income need, we use 100% protection, followed by 40% protection for the next 2-3 years. After that, the portfolio is invested in stocks. The greater the protection, the lower the amount of return the account potentially receives.
Jan was delighted that she could have the income she needed while potentially growing her portfolio with less risk than she thought she would need to take.
If you want to understand how buffers can help manage risk and potentially long term income, please reach out for a conversation.
Check out the quiz to test your financial literacy against high school students.
Articles Worth Reading
As I mentioned in the May newsletter about Geraldine Brooks, Memorial Days – Geraldine not only is an acclaimed author of fiction and nonfiction, she had been a journalist for the Wall Street Journal and had covered conflicts in many parts of the world. Clearly, an accomplished woman.
In her book mentioned above and the last newsletter, she has an entire chapter on her lack of financial knowledge and the trauma it created for her. That chapter begins on page 115 of the Memorial Days – titled May 31, 2019 West Tisbury. The purpose of my discussing this book again is to give you hope in your financial journey. If you have been astute with your finances prior to the death of your person, congratulate yourself. If you have not, you have a lot of company.
If something you read today made you think of another friend or family member, share this newsletter with them
This Month’s Recipe
It’s Summer and Grill Time!
Lamb or your favorite meat Shish Kabobs
Ingredients
¼ cup olive oil
1-2 tablespoons rosemary (dried or fresh)
½ tablespoon thyme
3 tablespoons fresh lemon juice
4 cloves garlic, minced
½ teaspoon red pepper flakes for a quick
1 teaspoon sea salt
½ teaspoon black pepper 2 pounds of your favorite meat, lamb, beef, pork or chicken cut in cubes
Directions
1. Whisk all ingredients in a bowl or shake in a jar (easiest).
2. Pour over your favorite meat in a sealable bag or shallow dish.
3. Marinate in the refrigerator 2-4 hours or overnight.
4. Bring to room temperature for 30 minutes before cooking.
5. Lace the meat cubes with peppers, onion, tomatoes or your favorite veggies.
6. Grill on high for 10-15 minutes. Watch carefully.
Serve with rice, salad, and watermelon for dessert. Enjoy and stay cool.
