Abacoa & Alton Neighbors - January 2022

Are You Financially Prepared for 2022 and Beyond? By Richard Jankus, Wealth Management Adviser, It’s often said a goal without a plan is just a wish. And when it comes to planning your financial future, this couldn’t be truer. I’m usually in such a hurry when I need gas that I rarely have time to go into the convenience store to buy drinks or snacks. Except when I’m on a road trip. Don’t you just love going on road trips with your family over summer break? This past July I had the pleasure of going to Disney World with my fiancé, my two daughters, and my fiancé’s two nieces. Five beautiful girls in my SUV and me. I did the driving; they did the talking. As we made our voyage to Orlando, sure enough about halfway there we needed to take a bathroom break and fill-up. My fiancé went with the girls, and I filled up my tank. I then proceeded to go the convenience store and waited online to buy a drink and some snacks. I overheard a couple in front of me talking about the Florida Lottery and how great it would be if they got all the numbers in the Powerball. I must admit, I wondered what I would do with all that money if I bought a ticket and won. Would we have that destination dream wedding that my fiancé and I always talked about? What about my daughters? Could I now afford to send them to private school and any university they wanted? Even Harvard? What about my mom, dad, and other members of family? Could I now afford the best round the clock nurses and doctors to help my parents age gracefully and with dignity? Would I be able to retire right away? What would happen to my practice, my clients? Would I move to a new home? How much would I give to Christ Fellowship? How much and to which to charities? And I thought to myself, I’ve got 27 years’ experience as a financial adviser. I should have had the answers to these questions in my mind already. But I didn’t. I started thinking about all the planning that went into this Disney vacation. Arranging the dates that my fiancé could get off from her job. Making sure the girls could get off from summer camp and get back in time for the first day of school. Confirming our hotel was booked for the right dates and everyone had a place to sleep. Calling Disney and registering everyone for 3 consecutive days at the parks. Afterall this was the first days that all 3 parks were open consecutively because of the pandemic. I wanted to be safe but also ensure the girls would have an amazing experience. Budgeting enough money so we could have a great time, but not having to take out a second mortgage to pay for the trip. It took a lot planning! It was one of the most amazing and memorable vacations I’ve ever been on. And it really got me thinking about how prepared am I in my personal financial plan? Was I taking more time to plan this vacation, then my own financial plan? As we grapple with so many issues today, Covid-19, the Delta variant, the Omicron variant, supply chain constraints, the Great Resignation, inflation, higher fuel costs, labor shortages, the Fed and fear of the unknown, how can we make sure that we are financially prepared for 2022 and beyond? First, we pray. We ask God for love, kindness, inspiration, wisdom, joy, patience, protection, inner peace, guidance, compassion, knowledge, courage, comfort, and prosperity. God wants us to live in abundance, not scarcity. He put us on earth to have relationships with each other, help each other and love one another. Second, we plan. We write down goals, review our household finances, expenses, budgets, tax-returns, and legal documents. How are we doing? Are we on track with our emergency reserve fund, personal savings, retirement accounts, college savings plans, real estate, gold, and digital assets? Do we have adequate life insurance if we unexpectedly pass away? Do we seek the guidance of professionals that have the wisdom and experience to provide sound financial advice? Third, we execute. T. Boone Pickens once said, “A plan without action is not a plan. It’s a speech”. After meeting with your CPA or tax professional, Estate Planning Attorney and Financial Planner, it’s imperative to act on your plan. Reviewing tax-returns annually, making sure you have all your legal documents executed, updated, in a safe place and COMMUNITY CORNER MC ELITE MANAGEMENT SERVICES, LLC Home · Property · Lifestyle · Concierge Spend more doing what you love. We’ll handle the details. 561.344.9831 www.mcelitemanagement.com 12 Abacoa &Alton N E I G H B O R S | J a n u a r y 2 0 2 2