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Young at Heart DECEMBER 2021

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December 2021 edition Special Advertising Supplement to the Santa Cruz Sentinel Young at Heart Young at Heart In Santa Cruz County Continued on page 2 Social Dancing for solos and couples Peggy Pollard, Teacher www.PeggyDance.weebly.com Santa Cruz Waltz & Swing In Class & On-line Dances & Lessons Waltz Tribe membership Grow your mind, body & soul Dance to music you love Sign up Now for up-coming Classes! Premium Hearing Healthcare Dr. Jeannine is the only board- certified audiologist in the Santa Cruz and Monterey area. She diagnoses and treats hearing loss and specializes in tinnitus. At Harmony Audiology, solutions are tailored to your needs and values with a focus on patient- centered care. www.harmonyaudiology.com (831) 854-2882 820 Bay Avenue, Suite 210 Capitola, CA 95010 JeanneAnne ("Jeannine") Ramacho-Talley, Au.D., CCC-A, CH-TM American Board of Audiology Certified Active Retirement for Active People Call 831.462.6257 to schedule a tour today! LIC.# 440708773 M a k e F i n a n c i a l P l a n n i n g Resolutions for the New Year By Tara Fatemi Walker It's almost the New Year and you know what that means: making resolu- tions! Of course, most resolutions involve im- proving oneself or one's life. For this article, we're going to focus on an area that's important for all of us: successfully managing our money. There are lots of local experts that can help with financial plan- ning, and I recently spoke to two of them. Let's address some com- mon myths. One is that hiring someone to do your financial planning is too expensive. "My response to people concerned with this is to seek out a 'fee-only' financial planner," says Certified Investment Man- agement Analyst Kris- tina Kuprina, President and Founder of Sequoia Wealth Advisors (sequoi- awa.com, 831-576-2731). "These types of planners charge a flat fee, usually based on complexity. This is what we do at Se- quoia; however, there are other firms who do this as well." A second myth that many people believe: Financial planning is only neces- sary if you're wealthy. "Regardless of your level of wealth or income, a financial plan can be in- valuable in creating your life plan, determining how you can live the best life for you and those you care for," says Kuprina, who adds that she often comes across people who mis- takenly think you need a certain amount of money saved, a 'retirement num- ber.' "People believe if you don't have this much then you will fail. Actual- ly, the amount of money you have saved has far less impact on a success- ful plan. It is the planning that matters because then there are more ways to ac- complish your goals than just savings or invest- ment," explains Kuprina. "For example, minimizing taxes or unnecessary costs and planning for surprises (these can be external like inflation or reces- sion or personal such as significant life events or changes). These can have far more of an impact on success than focusing solely on investment re- turns which has a level of risk and uncertainty." Many myths, says Ku- prina, sadly stop people from creating their plan. "One more is the false idea that you need to invest in a certain prod- uct, investment, or way in order to be success- ful. In my experience a carefully crafted plan or investment strategy that incorporates both your values and your purpose (which brings connection and confidence) is more important to success than the company, strategy or investment itself." Sequoia creates carefully customized plans and strategies for everyone they serve. "We have no products for sale or con- flicts of interest. We offer a menu of services, and you choose what is right for you and only pay for the services you want or need when you need them. There is no requirement to invest with us as part of the financial plan. We do not have an account minimum." There are different financial planning areas to focus on depending on your age. "Early on, it's more about when can you achieve your 'Work-Optional Lifestyle' (at Sequoia we call it 'Work-Optional' rather than Retirement, because not everyone wants to stop working at a specific age, but everyone wants to know when they can be free to choose the work they want to do—and not just for financial reasons). It is less about the age than what is important in your life now as well as what legacy you would like to leave," she says. "Regardless of your age, create a plan and review it periodically with your trusted advisors. Some- times laws change (estate, tax, etc.), sometimes your life changes, and sometimes new ideas may come." When it's later in your life, you should regularly check up on your plan. "Be sure the assumptions are still cor- rect to minimize the risk of running out of money or having options about where and how you would like to live." COVID-19 changed the world in countless ways. In the past, life events were the most common reason people did finan- cial planning. "Since the pandemic began so many people are rethinking their lives, how and where they want to live, what they would like to accom- plish and what REALLY matters," says Kuprina. "These times have really shown us how quickly life can change and also how fragile it can be. Never in my career have I seen this many people creating or updating their financial plans. The desire to see what is possible and live the best life." Kuprina is grateful to have the oppor- tunity to assist people with this. "Helping people and being in service to others is my life's purpose. Working with individuals, companies, and nonprofits all for the greater good. This may sound a bit unusual for a financial person. My highest inten- tion is to take away the fear, uncertainty and stress around financial planning and decision-making for those I serve so they can focus on the things that are truly important and bring joy!" Kevin Newhouse, As- sociate Advisor at Jacob Young Financial Services (jacobyoungfinancial.com, 831-722-3625), hears one myth more than others when he speaks to people: that as they approach retirement, they are supposed to adjust their investments from growth (or aggressive) to income (or conservative). "While this may be true for some investors, it probably isn't totally true for most in- vestors," says Newhouse. "We are seeing clients live longer now than ever before and yet the retire- ment age has remained at

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