The Money Stash

Where did your grandparents/great grandparents hide their extra money?

Some hid it under the mattress. Others kept it in a jar in the freezer - always good to have "cold hard cash," many said.  My grandfather kept stacks of money in the gun cabinet.

Why? Safety and control.  Safety: Being protected from risk or danger. (Don't let mass media financial personalities talk you out of this one!)  Control:  The power to direct or influence. (Seems like each year government attempts to take more control.)

Grandpa's gun cabinet: the year -- 1963.  Way, way, WAAAAYYY before the Enron scandal of 2001 and the Bernie Madoff investment scandal in 2008. 

In Enron's case, as news reported Enron shares plummeting, top Enron executives sold their company stock prior to the company's downfall.  But lower-level employees were prevented from selling their stock due to 401k restrictions and many subsequently lost their life savings.

And lest we forget Bernie Madoff, the former stock broker and financial advisor, who defrauded thousands of investors of billions of dollars. If you only remember one thing, remember this.  Legislation does NOT make a financial advisor wise or honest! Although financial producers must be licensed and adhere to regulatory guidelines it is prudent to do your own research. Feel free to look at "What Others Say" on this website to read a few testimonies from longtime clients.

One thing is certain. . . we live in uncertain times.  Instead of risking your retirement in the peaks and valleys of today’s economy, consider alternatives with:

• The guaranteed protection of your principal.
• A guaranteed rate of return.
• An optional guaranteed income stream in retirement.

We offer no tricks, gimmicks or get-rich-quick schemes. There are diverse options and one that is sure to satisfy the needs of every household – including yours!

Holidays Ahead! Proceed With Caution!

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Stuff!  Hurry!  Buy more stuff!

Pause .  Take a deep breath. Don't forget to buy what's most important!  "What IS most important?" you ask. 

Can you name the gift you gave or received five years ago? two years ago?  last year?  Black Friday.  Cyber Monday.  And so it begins.  Let's briefly hit the MUTE button on all the advertising and clamoring.  In recent years, my wife has spent both time and money (using a professional organizer) to eliminate 'stuff' from our home and lives.  What do we want that we don't already have?  Nothing .. not one thing. 

In lieu of exchanging gifts this year our children welcomed the idea to support a local charitable organization.  Instead of shopping, wrapping and exchanging gifts we will spend time together as a family visiting local spots, such as the Plaza and Union Station.  To top off the holiday festivities we look forward to a night of cookie decorating (and eating.)

What is your favorite Christmas memory?  That awesome pair of socks -- NOT.  Another terrific tie -- which one?  For me, it is the first Christmas with my wife at her childhood farm. 

If you read the Thanksgiving blog post, you are familiar with the "over the meadow and through the woods to grandmother's house we go" Norman Rockwell picturesque setting.  In 1983, we made plans to travel to Illinois for our first Christmas together as a married couple.  Our car at the time was a rust bucket and warnings of snowmageddon were predicted the day of departure.  Quick decisions. Got off work early. Rented a car.  Hit the road for the 6 hour drive.  Good call!!  The rental car had front wheel drive which came in handy when we drove into a monstrous snow drift, turning the corner for the last mile to "Mom and Dad's." 

We found out the next day we were snowed in -- FOR DAYS!  Actually, we would have been snowed OUT had we been delayed just 30 minutes.  Nothing to do but enjoy one another, look at the beautiful white snowdrifts and eat all the goodies in the fridge and freezer.  Like hibernating bears we ate ourselves into a food coma.  Yes, Christmas 1983 was merry and white.

My point is this, before you pull out and swipe the card think for a few moments.  Are you creating a memory or feeding the "GottaHaveIt" creature within?

Forget the number of shopping days left.  Put the Merry back into Christmas.

To Grandmother's House We Used to Go!

Lasting memories!  Four things stand out to me when I see this Norman Rockwell masterpiece.  Simplicity.  Generations Interacting.  Eye contact.  And what's in the dish under that silver lid?

Simplicity.  The food displayed is turkey, celery, perhaps cranberries, fruit and whatever is under that beautiful silver lid.  (And worth noting:  Grandma's apron and Grandpa's suit and tie.)

Generations.  Grandparents, parents, children, aunts and uncles. Being together. Talking together.  Smiles.  Laughter.

Eye contact. No cell phones. No TV. Smiling faces.  Engaging in conversation. Leaning in. Enjoying one another's company.  Living in the moment.

What IS in that elegant dish?  Perhaps it is unknown because everyone can envision their own favorite dish.  Mashed potatoes, sweet potatoes, green bean casserole, fill-in-the-blank with your favorite.

Truth be told, this is a Norman Rockwell setting.  Real life scenarios may not be quite this perfect and picturesque.  One of the things I am most thankful for is the memory of traveling to my wife's childhood farm for the holidays.  It is by far the closest thing I experienced that resembled this Norman Rockwell setting.

I loved "Mom and Dad."  Their farm was in the Midwest, the heart of farmland country. A real 'over the meadow and through the woods to grandmother's house we go' scenario.  Peaceful. Refreshing. Plenty of home-cooked food. Lots of love.  From the minute we crossed the threshold we were treated to an abundance of pies, cookies and delicious food prepared with plenty of love.

Mom and Dad did not lavish us with monetary gifts, but their love and the memories made with them were priceless.  They passed away a few years ago, but their legacy of love lives on.  We miss them: the hugs, laughter, encouragement.  Nothing can replace them, but in planning for the future they both secured life insurance and left a small trust for their children. 

“We must find time to stop and thank the people
who make a difference in our lives.
— John F. Kennedy ”

Thank you, Mom and Dad, for the memories, your love and your legacy.

Happy Thanksgiving to all.

Fist Bumps and High Fives

Congratulations to the Chicago Cubs, 2016 World Series Champions.  Epic game seven! Home run by the lead off batter, home run by David Ross, the oldest player in Major League history to hit a home run in a World Series Game 7, and home run by Cleveland to tie the game in the 8th inning.  Gutsy, gritty yet classy teams playing with the skill of men, but with the hearts of young boys just loving the game! Reminded me of someone else . . .

2015 World Series World Champion Kansas City Royals

There is more to life than baseball.  But for now, let's enjoy these talented teams and savor the moments of victory!  There was a lot of hard work that went into these two teams' success.  Thanks for the memories!

CHOICE OR CIRCUMSTANCE?

I love seeing active older adults like 86-year-old Sister Madonna Buder, known as the Iron Nun, who has competed in over 40 triathlons. That motivates me to keep moving. 

Have you noticed lately an increase in the number of older adults still working?  By choice or by necessity?  Probably both are true. 

The reasons could be a result of economic conditions, reduction in government benefits or perhaps just being healthy enough to stay working. In many instances, people are choosing to retire later in life and may not completely exit from the workforce upon reaching retirement age.

What age would you like to retire? Is your money ready for this retirement age? At Schlappi Financial Group, we believe your retirement funds are sacred.

You depend on their stability and availability.  Going backward is not an option. How can we help you move forward?

CRYSTAL BALL . . not an option.

Live with COURAGE anyway!

By BRUCE SCHLAPPI

Oh, the wise decisions we would make if only we had a crystal ball to see the future.  Now that would be eye-opening.  

Knowing the future might alleviate pain, but -- wait a minute -- what about the thrill of discovering new opportunities.  And where would the fun be in learning from our mistakes?

“Your best teacher is your last mistake.”

— Ralph Nader

­­­­­­­­­­­­­­­­­­­­­­­What are some things we would do or would not do because we could see the consequences of our decisions and choices?  That's a loaded question!  Hindsight is always 20/20.

As convenient as it would be, a crystal ball is not an option so we must navigate through life doing the best we can to make wise decisions with the knowledge we have and insight we gain.

Although, we can't see into the future we can PLAN for it.  Question is, are you a planner or procrastinator? (When it comes to finances and family I am a planner.  Cleaning the garage, not so much - procrastinator!)  

Let's look at finances for a second. Here's an insider secret for you.  Having a plan is not as challenging as it seems!

It is much easier to take an hour once a year to make or review a financial outline than it is to spend hours and hours worrying about it.  Not convinced yet? 

Here is the simplest thing to do right now.  WRITE out one of the following statements on a piece of paper or in the note section of your mobile device, 'Prepare a budget' or 'Consistently add to my nest egg' or 'Start a financial plan!'

That's your homework for today!  That's it.  How easy was that?  Congratulations.  You just took a simple action to protect your financial future.  It cost nothing and only took a second.

Now the fun begins.  Look at that written statement over the next few weeks.  Let the idea simmer in your mind.  The big picture/the end result is a financial plan specifically designed for you.  No boilerplate plan.  YOUR plan. 

Write down one thing you can do to get the ball rolling. Make a phone call, download an app to track your budget and expenses, talk with a trusted friend who is satisfied with results from their own plan to find out what they are doing. (You can read some of our client comments a few clicks over on the page "What Others Say.")

Helping people set up permanent benefits and a savings plan they can count on both today and in retirement is what we do.  It may surprise you how painless it is.  If you like the idea of saving both time and money you will not want to put this off another day. 

A hundred mile journey starts with a single step.

He left BIG SHOES TO FILL but they were pointed in the right direction!

Who comes to your mind when you see this image? 

I think of my grandfather.  He taught me through his example the value of hard work, being respectful, treating people fairly and having a strong work ethic.

You know the expression,

“More is caught than taught.”

He was a man of few words, but his life spoke volumes. 

Raised by a single mother with 5 children, I experienced the struggle of living on a very limited income.  We were poor as church mice! But what allowed us to have some form of normalcy was the support provided by my grandparents.

More important than helping to put food on the table, they shared valuable principles that helped shape my growing inquisitive mind.  Grandpa would say, "Do an honest day's work for an honest day's pay.  Be on time.  Work hard. Do your best."

Everyone has the opportunity to leave a legacy, starting with their influence on family and relationships. It’s important that people have a legacy and not just live for themselves.

Our legacy also includes finances.  Retirement savings are a part of that.

Why do I do what I do? I grew up in a financially volatile home and I want to help others avoid that, plan ahead, weather the storms and thrive. 

For more about what I do visit the homepage just a couple of clicks over.

The Day We Will Never Forget

September 11, 2001. Is there a day in history that so dramatically changed lives in just a few moments?

Many families were suddenly confronted with the devastating loss of a loved one.  Words cannot adequately express the agony and grief. 

And yet, life did not stop for the survivors.  Children went back to school.  Spouses returned to work.  And no doubt it was  painful.

September is Life Insurance Awareness Month.  This is a month devoted to helping people focus on making a decision to protect their loved ones with life insurance. 

Life insurance can have many functions.  Perhaps you are most familiar with how it is used to help ease pain and worry in the event of unforeseen loss of a loved one. 

Life insurance does not replace a person, but it does provide much needed hope and financial security to navigate through the days and months following an unexpected death.

How much does life insurance cost?  Can a dollar amount be attached to peace of mind?

A customized plan for every family is DO-able!

In the weeks to come I will be highlighting some life insurance essentials for you. Let's take the "ho-hum" out of the equation and make it practical for you and your family.