Smart Ways to Take Control of a Trust

August 14, 2018

Many successful families use trusts to minimize taxes, transfer wealth and protect assets from creditors and others. You may have already set up a trust, or you may hold an inheritance you received in a trust that was created decades ago. Trouble is, too many families relinquish more control over their trusts than they need to, basically hoping that the trustees they have put in charge will serve them well. They take a passive role in their trusts rather than an active or proactive role.

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July / August 2018 – Retirement Strategies Newsletter

August 6, 2018

Inside This Issue:

    Notes on Our Southern Culture
    The Bookshelf
    Gazpacho in 10 Minutes or Less
    A Little Laugh
    Flat David

Notes on Our Southern Culture

by David Shucavage

Recently, while walking our dog Dogma near Wilmington’s Riverfront Park, I read a plaque about Lippitt’s Ice House. It piqued my interest enough to do some research into the history of ice houses, only to discover that their history is entwined with that staple of southern culture – sweet ice tea. Of course, if you come from the north, you have probably discovered that stating “sweet” and “ice” is unnecessary in any restaurant order; “tea” says it all. It’s when you want an unsweetened or hot tea that you need to be explicit. Anyway…

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The Road Less Traveled: Taking Steps Toward Your Ideal Retirement

July 25, 2018

Have you given a great deal of thought about your “bucket list” recently? For most people, a bucket list consists of things we have always wanted to do and many of those things involve taking risks or traveling far away from home or exploring some other type of great unknown. I read an article recently in Financial Advisor Magazine that discussed regrets that people had as they aged. The article said, “Among the top regrets were: not following their dreams, not taking risks with their careers, not taking risks with their lives in general, and not being gutsy enough in the choices they made.”

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Practice and Courage: Why Retirement Is like Learning to Dive

June 21, 2018

Do you remember when you learned how to dive? Do you remember how you felt when you saw others doing it and you wished, hoped for the day when you would have the courage and agility to take that plunge and know that you’d land gracefully in the water? Do you remember how ungraceful that first attempt was?

I have this vivid memory of learning to dive. We went to this pool every summer during childhood and there were older kids and adults who used to take turns practicing their dives. From my perspective, each of them was better than the last. They would walk slowly up to the edge, look down into the water, bounce once with two feet on the board, then with just one– shooting their knee straight up in the air, then one final time before they raised their arms high over their head, and traveled in a perfect arc, making the most peaceful splash as they landed– arms, then head then torso and lastly feet into the water. I so desperately wanted to be able to do as they did. My dad, was eager to teach when I asked him to show me the secret. But he explained that there was no secret at all. What was needed was precision, an understanding of gravity and physics and, most importantly, courage. He explained that courage was most important, not because it would improve your dive, but because it would empower you to keep going until you perfected it.

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Emotional Investing and Consequences of Behavioral Biases

April 20, 2018

Distraction from the media, uncertainty or volatility in the markets, or pressure to buy and sell from friends, colleagues, financial “gurus” and other less than reliable sources for investment advice can directly challenge an investor’s ability to make consistent, rational and logical investment decisions. The barrage of information coupled with some inherent behavioral biases can make long-term investing a challenge for most people.

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The Rich History of Arlie Gardens

April 16, 2018

In our 30+ years in Wilmington, my wife, Sandy, and I have seen mind-boggling changes in the area as it has grown — some good, some bad. We’re so glad that there have always been people committed to holding on to those places and things that make Wilmington special. Airlie Gardens is one of those treasures, almost given up on a decade ago, but now a thriving part of our community

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Want to Promote Family Entrepreneurship? Consider a Family Bank

April 16, 2018

With that in mind, the Super Rich are embracing ways to develop the business acumen of inheritor family
members—as well as ways to support them in forming new ventures of their own.
One way the Super Rich are making that happen is through family banks. And increasingly, families that
aren’t as wealthy as the Super Rich are using these banks as well.

With that in mind, the Super Rich are embracing ways to develop the business acumen of inheritor family
members—as well as ways to support them in forming new ventures of their own.

One way the Super Rich are making that happen is through family banks. And increasingly, families that
aren’t as wealthy as the Super Rich are using these banks as well.

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How to Stress Test Your Financial Plan Like the Super Rich

March 27, 2018

The Super Rich (those with a net worth of $500 million or more) who have family offices typically engage a sizable lineup of professional advisors to help them create and implement financial plans. To help ensure those plans are both state-of-the-art as well as in line with their needs and wants, many of them regularly “stress test” these plans.

Here’s why you should join them in that effort—even if you’re not nearly as wealthy.

Asking “What if?”

Stress testing financial plans can be a very smart way to help make certain that the plan will deliver as promised. The fact is financial plans that might look great on paper all too often prove to be much less impactful once they are implemented. It is not uncommon for there to be unintended consequences that can even derail one’s agenda.

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January/February 2018 – Retirement Strategies Newsletter

March 5, 2018

Inside This Issue:

  • Savorez – A Must Try!
  • The Bookshelf
  • Sandy’s 5 Star Cider!
  • Saving Fuel in the Winter
  • Maintaining Winter Health
  • Upcoming Events in Wilmy
  • Winterize Your Home

Savorez – A Must Try!

If you’ve been reading our newsletter for a long time, you know that I’ve never used this space to hock restaurants. We are fortunate to have many wonderful restaurants in the Wilmington area, but I don’t fancy myself a food critic, in part, because I can only come up with so many sophisticated ways to say “Yummy!” It takes more than superior food to encourage me to write about a restaurant; it takes a level of personal bonding beyond taste and presentation. And that is exactly why this is the first time I’m writing about a restaurant.

I got the idea for this article when one of our favorite restaurants, Savorez, was named the top new restaurant in North Carolina by Buzzfeed and Yelp. And it’s ours, all ours, Wilmington! Are we lucky or what? Take that, Raleigh! Savorez is a charming little 36-seat restaurant at the corner of Chestnut and 4th Street in Downtown Wilmington. Its flavor palate is Central American, but you need only an appreciation for a good meal and the slightest touch of adventure in your soul to be delighted with Savorez. The staff is so friendly and upbeat that it doesn’t take long to feel like family (kind of like Mel’s Diner on a gourmet level).

Their regular menu is simple and delicious (Sam and David favor the Gatos Tacos while I ask for a spoon to capture every bit of the delicious sauce in the Langousta Y Coco—lobster ceviche), but you can never go wrong with one of the specials. It is with the specials that they exercise their creativity and allow their imaginations to soar. If you see a special you like, order it! You may never see anything quite like it again. Their cocktails are just as creative and unique.

We’re there a lot and, in fact, our family celebrated New Year’s at their first (annual, I hope) New Year’s Champagne Dinner. A great time was had by all. And the food was —you got it— yummy. And, of course, champagne!

The owner and chef of Savorez is Sam Cahoon (his father, coincidentally, is Larry Cahoon, a marine biology professor at UNCW, whom I’ve seen at a number of GenX forums advocating for our clean water). As a general rule, I can only see Sam’s torso through the narrow window into the kitchen, but he obligingly stepped out so I could take a picture. He has such a nice natural smile that I only needed to take one shot and it was just perfect.

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Three ‘Spy Secrets’ That Can Protect You, Your Family and Your Business

March 4, 2018

Imagine yourself in a vintage tuxedo, sipping a “shaken, not stirred” martini as you make eye contact across the bar with a beautiful secret agent who is about to covertly hand you a dossier with information that will help prevent World War III.

Okay—that’s almost certainly never going to happen to you. But you can use some of the same strategies employed by professional spies and operatives to prevent criminals from harming you, your family and your company.

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UPCOMING EVENTS

Senior student in class

Take the first step in planning for your financial future.

Register for an upcoming event.

Get started on your path to financial success. Attend a live event. Meet the Carolina Retirement Planners team and discover strategies and resources to help you begin planning for your financial future.

Next Event:

 

  • Mon
    27
    Aug
    2018

    Tax Workshop - UNCW

    6:30 - 8:00 pmUNCW, Center for Innovation and Entrepreneurship, 803-G South College Road Wilmington, NC 28403

    For individuals and couples between the ages of 50 and 75. Join us at the UNCW campus.

  • Wed
    29
    Aug
    2018

    Tax Workshop - BCC

    10:30 am - 12:00 pm.Brunswick Community College - Main Campus | 50 College Rd. Bolivia, NC 28422

    For individuals and couples between the ages of 50 and 75. Join us at the BCC campus.

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