Fairtrust Financial - July 2015 Newsletter, Leaving a Legacy, News and More!
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Happy Summer!

Greetings! In July’s Newsletter you will find:

  • Article on Leaving a Legacy
  • In the News/Updates
  • “School’s Out!  Let the Summer Break Begin” Blog Post

Leaving a Legacy

When I start working with new financial planning clients, one of the first things I find out is if the client has a will or trust and if they do, I ask when was the last time it was updated. Typically, for most of my clients over the age of 50, the last time they had an update was when they had young children. It’s likely that your family and personal situation has changed quite a bit since then. And, many significant changes have occurred over the past 10 years to the tax code that could make a difference to your estate plan so it’s very important to revisit your estate plan every few years.

Is leaving a legacy important to you? If so, check out this quarter’s featured article to learn what you need to do to ensure that the assets you leave behind will continue to be a source of support to your loved ones and causes that are important to you.

Please click here to read Leaving a Legacy.


Our May 12 “Lifestyle Event” featured Cathy LeVahn, who presented - Attracting Butterflies to Your Garden.  Cathy is a University of MN Anoka County Master Gardener and she gave a fantastic presentation on why butterflies are important to us as pollinators and how we can attract more butterflies to our gardens.  We had an interactive discussion and she spent time at the end answering all of our questions about gardening and tree care.  Thank you Cathy for sharing all of your knowledge with our group!

On June 15, I was an Eagle Sponsor for the 3rd year at the ACEC/MN Scholarship Golf Tournament at the Oak Marsh Golf Course.  This year we raised over $18,000 to go towards scholarships for engineering students.  ACEC of MN is a professional organization dedicated to advancing the practice of consulting engineering.  It was an awesome day for golf.

School’s Out!
Let the Summer Break Begin

It’s a beautiful day in June. The grass is now green and it needs to be mowed. The flowers and vegetables have been planted and are starting to grow. I enjoy waking up to the sounds of birds chirping and singing bright and early in the morning through my open window. Every year, my kids, who are ages 9 and 12, look forward to the summer break. No school, no getting up early every day, no homework, and more free time to do what they choose. What could be better, right?

As in prior years, the first week or so is a settling in period. Any scheduled summer sports or activities have not started yet and there’s a huge amount of excitement and silliness that surround them wherever they go and whatever they do.

After the first few weeks are over, we settle into a routine of tennis, baseball, more baseball, and swimming, along with a few weeklong summer camps. The days go by fast and there’s always plenty to do, places to go, and friends to see.

But, by mid-August, the routine starts to get old, the activities are winding down, and I start hearing my kids say that there’s nothing to do. How could things have changed so drastically from just over a month ago?

For some people, entering into retirement can be a lot like summer break. At first, things are so exciting because you don’t have to get up every day and commute to the job you may not have cared for so much. There’s the list of things you always wanted to get done around the house, or going on a dream vacation or two that you always wanted to take, or maybe spending more time on the golf course. Many people are so stressed and overworked by the time they decide to retire, they just can’t wait for their working years to be over. They definitely are in need of time to recharge and relax.

But, once the initial excitement of getting up and doing nothing has worn off, the to-do list has been tackled, and they have been refreshed from the time spent away from their stressful job, many people become restless and feel a lack of purpose that they once had in their working years.

In 1955, the average life expectancy for Americans was 69.6 years old.  Today, it has increased to 78.9 years. The average life expectancy for men is now 76.5 years and for women, it’s 81.4 years. People 50 years ago spent much less time in retirement than people do today. But, the one thing that hasn’t changed nearly as much is our thinking about retirement and how we think we will spend our time.

Chris Farrell, economics commentator for Minnesota Public Radio and the author of Unretirement – How Baby Boomers Are Changing The Way We Think About Work, Community, and the Good Life, describes a new trend emerging amongst retirees. In Unretirement, Farrell writes about how people today are desiring and wanting more out of their life after work and are searching for a sense of purpose. Many people are finding encore careers in fields they are passionate about while using their skills from their working years. One of the things he noted in his book was that people wanted to contribute and be paid rather than to just be a volunteer. It wasn’t about the money in most cases, but the fact that the paycheck was recognition for their contribution.

Mitch Anthony, a frequent speaker and author of The New Retirementality, writes about purposeful retirement and calls retirement an unnatural phase in life. The idea of retirement today has changed dramatically since the days where a person retires with a pension and gold watch for their many years of dedicated service from their lifelong employer.

Anthony cites a Rand study documenting a diminishing law of returns on leisure that is spurring an emerging un-retirement trend. He writes, “Remove work, and leisure quickly becomes monotonous and boring.”

Anthony’s solution for retirees is to not look at ROI (return on investment), but at ROL -return on life – getting the best possible life with the money you have. I really like this idea and incorporate it into my financial planning practice when working with clients.

My primary goal when working with clients who are preparing for retirement is to make sure they have a good idea as to what they can spend annually while in retirement and to help them make sure that their goals fit their budget. Equally important is hearing about what’s important to my clients and to help provide resources to maximize their ROL and realizing it’s unique for each person.

There are 168 hours in the week.  How will you make it meaningful?

If you are interested in looking into resources for a purposeful retirement, I am in the process of updating my website with some neat websites and information at under the Resources tab.

I hope you enjoyed the newsletter. I always like to hear about topics that you care about that relate to planning for retirement and living a more purposeful life in retirement to use for future events and newsletter articles. Please email me at with your thoughts and ideas. Thank you.

“Feel the power that comes from focusing on what excites you."
Oprah Winfrey

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC.Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Fair Trust Financial LLC are not affiliated.

Copyright © 2015 Fair Trust Financial, All rights reserved.

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