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Jean Wolfe, CFP®, CIMA®, CPWA®

Vice President

PHONE: 952-249-7617

TOLL-FREE: 888-831-6426

FAX: 952-249-7650

ADDRESS:  601 Carlson Pwy, Suite 950, Minnetonka,  MN  55305

Jean's Journal

Retirement Planning Today Course Offering  - Sept 25th/Oct 2 OR Sept 29/Oct 6
Retirement Planning Today (Sponsored by Edina Community Center)

This course provides you with key take away actions to motivate you to take charge and will get you moving in the right direction towards retirement! While learning with the 223 page text/workbook, you will review your current financial condition, where you are at with funding your retirement plan, and steps to improve it. You will explore your life plan “A” as well as possible plan “B” and their impact. You will learn how to estimate your retirement needs and your retirement timing. Learn about potential funding derailments or roadblocks and the strategies you need to get back on track. You will also review your different income sources once in retirement - your social security income, 401k/ IRA accounts distributions, pensions, and annuities and review how much you can spend based on your savings and the income tax impact from spending from retirement accounts. Partners/spouses can attend together for a single fee sharing one workbook.

Dates for the Fall offering - taught by Jean Wolfe and Kurt Kobes from RW Baird

Sept 25 and Oct 2 : 6pm to 9 pm Tuesdays
Sept 29 and Oct 6: 9am to Noon Saturdays


Edina Community Center
5701 Normandale Road, Edina MN 55424

Follow Links for More Information - This was from fall session but may link to updated new classes for March.

Class Brochure: Retirement Planning Today Brochure October 2017
To Register: Retirement Planning Today Registration

Individuals and couples, business owners, professionals seeking practical information on reviewing your retirement plan.

Improving your life plan by impacting the present and future in your current chapter:

1. Comprehensive Review –Priorities in your financial plan
2. Distribution planning – IRAs, Roth IRAs, Pensions, Social Security
3. Risk Management – Health and Life and Care Needs
4. Estate Planning- Financial Order, Management

Recommended Reading:
“Younger Next Year” by Chris Crowley and Henry S. Lodge, M.D.
“The New Retirementality” by Mitch Anthony
“The Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in your life” by George Kinder
“Decisive-Make-Better-Choices” by Dan Heath & Chip Heath

An Advisor to Business Owners:

CEPA – Certified Exit Planning Analysis – What and how can this help you?
Considering the future and where to go from here? A desire to review the bigger picture outside of the business? Big picture review of your business strategy – succession plan or non-succession plan and helping you to form sound strategies that work for you.
Team Management – Advisory Board Collaboration.
Concentration Risk, Insurance impact.
Resources: Value Acceleration by the EPI – how to build and extract more value.

Un Retirement Planner:

Considering a change in career, new business, part time employment with additional schooling? Creating your own “shift” or encore career and need to map out your financial strategy?

1. Comprehensive Review –Priorities in your financial plan
2. Income and Expense Management – Bridging financially into your next career
3. Risk Management – Health , Life, Disability, Liability
4. Self-Employment: Review the pros/cons - on all levels

Recommended Reading:

“Unretirement” by Chris Farrell
"The Encore Career Handbook" by Marci Alboher
Planning Concerns for the Aging Population: A Framework for Client and Family Discussions:

Six major areas that are affect seniors and their families:

Cognitive and Psychological
Legacy Link to Financial Planning Association article- FPA Aging Population

Getting on the same page – Jean’s Journal August 27, 2018

Investing and Projecting

Our firm as well as many others have cautioned on the market of late with risks and uncertainty rising – our stock market (S &P 500) continues to climb a wall of worry. Status quo and overconfidence – these are two behavioral biases that regularly appear with investment strategies. This year we are having one of those years where the status quo is being rewarded in the short term. Status quo investing in US large growth stocks over the past five years has rewarded investors with superb returns.  Because of this reward, many investors by virtue of “status quo” have not actively rebalanced or trimmed their overweight in these favored areas.  So by virtue of passive activity or not strategically rebalancing – you may find your portfolio over invested in the favored areas of the market.  Active management is the deliberate act of rebalancing your portfolio – so trimming or selling those areas of the portfolio and buying into lesser performing areas. This action is not easy, nor comfortable.
Overconfidence is generally thought of as extrapolating your investment returns from the most recent past into the future. As an investor, guarding against over confidence with near term success of investing (i.e. the prior paragraph on US large growth stocks or individual stocks) or assuming a continued higher level of return. Past performance is indeed no guarantee of future results. With retirement assets, risk management of your financial assets is extremely important. We guard against using assumptions from most recent period of time in our financial plans.  We guard against too low an assumption on spending as well as the impact of too high an assumption on investment returns.

 A few other observations:

Risk and acceptance of risk or price volatility is very personal and very specific; your risk acceptance is relevant to you and your financial plan. How your neighbor invests is generally theirs specifically as well.

Goals and time in the market have greater impact on the risk measure – remind yourself regularly as you close in on key dates relative to spending from investment savings vs. simply investing.  Your price loss acceptance should be framed on impact on a dollar basis of large loss.
Reconfirming your risk acceptance in good markets as well as poor markets should result in consistent risk appetite.  Being honest with your personal loss acceptance even from market price moves is relevant even when the market hasn’t corrected.
Investment is a long game strategy - factors and near term risks are consistently changing.  In closing – one of the best investors of our time – Warren Buffet frames why investing is less about headlines and more about the fundamentals of investment.