Last quarter, we invited you to “get curious” with us, and some of you have! We have received a few inquiries asking us, “What does the R.O.O.T.s stand for?”.
The idea for R.O.O.T.s came to us several years ago. A tree’s roots provide stability and serve as a pipeline to nourish the tree. The roots must be nurtured and protected in order for the tree to flourish and thrive. When we started kicking around the term R.O.O.T.s, we saw the link to the tree in our Family Legacy logo.
Beyond the metaphor with the tree, we viewed R.O.O.T.s as a fantastic acronym for what we hope to help you accomplish: Retire On Own Terms. To us, this concept encompasses the idea that you can live the life you desire on your own terms and retire when you are ready.
For some, R.O.O.T.s will mean socking away cash so they can retire at age 55. For others, R.O.O.T.s means enjoying a little bit more luxury in their working years and accepting that retirement may be a little later based on that choice.
For some, it is the optional work lifestyle - sufficiently funded to retire, but continuing to work based on their own desire to remain active or find satisfaction in their work.
Retire On Own Terms applies to everyone, no matter their age or demographic. Future retirement might not be the original driving force behind seeking an education, finding that fantastic job or squirreling away money. But, at some point, retirement will become a primary life focus.
The flexibility of R.O.O.T.s allows each of you to apply the concept to your own goals, to live the life you envision and have your money be a conduit to support you on that journey.
Thoughts on the Market
Banks, interest rates, the Fed, inflation, and many other parts of the markets have created more than enough headlines for the news to work with in 2023. Keeping with the ROOTS theme, how do these headlines impact you?? While headlines can be unsettling, it is important to read them through the context of your own situation.
Please do not hesitate to reach out to us if you have these concerns. We can provide you with an updated Goal Planning analysis to view the market volatility’s impact to your specific goals. For further market comments, read Raymond James' CIO Larry Adam's recent comments on the market here.
Estate Planning Reminders
Do you have Power of Attorney documents created in conjunction with your estate planning attorney? Have you updated your trust documents in the past few years?
t would be great to have a current copy of those documents on file. Having these documents in your file allows us to smoothly transition to working with your representative or trustee if events so dictate. You can drop them off, mail them in OR utilize our secure, digital storage platform: VAULT (accessed through your online account profile).
And if you have not updated these documents recently, here is your reminder to consider it! Estate attorneys recommend you update a revocable living trust every 3-6 years.
Have addresses changed? Have you acquired or divested any major assets? Are your current listed trustees alive and willing to serve? These items typically need updating periodically.
Check in with your estate attorney to determine if any of your estate planning documents require an update
The Vault
Need a place to securely store all your important documents?
From financial statements and legal agreements to passports and photos of valuable assets, the VAULT is a great place to store and share digital copies of your important documents, and the security of knowing each one is protected. It's a secure way to know you always have them on hand in case of an emergency. Click here to learn more about how the VAULT can support you.
FLWP Happenings
Employee Appreciation Week
We took an entire week to celebrate in our office! We have a fantastic team who deserve to be showered with recognition. With a daily theme, special treats, and creative paper plate awards, our team enjoyed a break from the normal weekly rhythm. We wrapped up the week eating and wearing the rainbow, which led to a colorful splash of cheer in the office. We’re not only colleagues, but family, and we appreciate their hard work and loyalty.
Day at the ZOO!
We are heading back to the Zoo to celebrate our Client Appreciation Day! Save the date for August 5th and join us and a few furry, scaly friends for a day at the zoo. More details to follow in the coming months.
Market Perspective
Our panel discussion at our Market Perspectives breakfast covered many topics from inflation, recession likeliness, and globalization! Thank you to our wholesale partners for their continued support to our practice with research, economist access, and portfolio analysis to really assure we are doing our very best for our clients. We look forward to putting together more events in the future that make our most trusted resources more accessible to you.
Community Involvement
Join us May 13th for a community park beautification! The team at FLWP will be planting flowers, mulching and pulling weeds at Smith Park at 10:30am! We would love to have you and the family join us. More details will follow. And, If you have a favorite organization we can support, please share it with us! We are actively finding new ways to get involved in our community.
Plymouth Calendar
Music In The Air- Friday Night Shows begin May 26 at 7pm
The Thursday Night Community Band Concert Series begins on June 1 at 7pm! Kellogg Park
Music In The Park- 2023 Wilcox Wednesday starting June 14 at noon. Kellogg Park
ART in the Park- July 7 thru July 9
