Page 38 - Southern Exposure - February '20

Page 38, Southern Exposure

FinanCial FoCuS

Can You Improve Your Relationship With Money?

By Sally Sima Stahl

In your life, you will have importantly, they may lead you to make poor decisions. from an “accountability partner.” Too many people keep their
all sorts of relationships – with Emotions are obviously closely tied to money – but they financial concerns and plans to themselves, not even sharing
your family, your friends, your really should not play a big role in your spending, saving and them with their partners or other family members. But by
coworkers, and even with investing choices. being open about your finances to your loved ones, you can
civic groups and charitable • Develop a financial strategy. By developing a sound not only avoid misplaced expectations but also enlist the help
organizations you support. financial strategy, you can reduce money-related stress and of someone who may be able to help keep you on track toward
But have you ever considered help yourself feel empowered as you look to the future. A your short- and long-term goals. But you may also benefit
another key relationship – the comprehensive strategy can help you identify your goals – a from the help of a financial professional – someone with the
one you have with money? down payment on a new home, college for your children, a perspective, experience and skills necessary to help you make
Of course, this type of comfortable retirement, and so on – and identify a path toward the right moves.
relationship has several reaching them. Your financial strategy should incorporate a Like all successful relationships, the one you have with
aspects, such as saving, variety of factors, including your age, risk tolerance, income money requires work. But you’ll find it’s worth the effort.
spending and investing. And your fellow Americans clearly level, family situation and more. Here’s the key point: By This article was written by Edward Jones for use by your
face some challenges in these areas. For example, in a recent creating a long-term strategy and sticking to it, you’ll be far less local Edward Jones financial advisor. Edward Jones, its
survey by financial services firm Edward Jones, only 21 percent likely to overreact to events such as market downturns and less employees and financial advisors cannot provide tax or legal
of respondents reported that they feel happy when thinking inclined to give in to impulses such as “spur of the moment” advice. You should consult your attorney or qualified tax
about saving money, while 92 percent said they see room for costly purchases. And without such a strategy, you will almost advisor regarding your situation.
improvement in their financial health. Yet only one in four plan certainly have less chance of achieving your important goals. Call me for a free portfolio review at (561) 748-7600, Sally
to improve their spending habits. Furthermore, just 26 percent • Get an “accountability partner.” Your relationship with Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste. 106, Jupiter,
said retirement was a top savings priority. money doesn’t have to be monogamous – you can get help FL 33458.
If you share some of these concerns, what should you do?
Here are a few suggestions:
• Identify your money-related emotions. Try to recognize the
emotions you feel in connection with saving and investing. Do Hike Through History - Feb. 1
you get nervous about spending? Does putting away money Twilight Yoga at the Light -
for the future give you satisfaction or not? Do you worry Feb. 3, 10, 17, 24
that you don’t know how much you should be investing, or
whether you’re investing in the right way? Clearly, these Lighthouse Story Time - Feb. 4
types of questions can cause some anxiety – and, even more February Lighthouse Sunset Tour -
Events Feb. 5, 11, 19, 26

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it’S the law Jupiter Lighthouse Climb & Paddle -
Feb. 12
Jupiter History Trolley Tour - Feb. 26
Did You Know Lighthouse Luminary Luncheon -
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That, In Florida … Check website for times and to RSVP.
jupiterlighthouse.org/calendar
By Adam S. Gumson, Esq.
jupiterlighthouse.org 561-747-8380
In a divorce, the process 500 Captain Armour’s Way, Jupiter
whereby the parties engage
in the exchange of financial
information about each
party’s assets is called
discovery. In discovery, the
parties complete financial
affidavits evidencing their
income and expenses and
exchange copies of bank and
credit card statements, tax
returns and other financial Upscale Resale
information.
Probate is the court-supervised procedure for marshalling/
liquidating a deceased person’s assets, paying debts and taxes, Experience The Difference
and distributing the assets to the person’s beneficiaries. Living
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understanding of both parties regarding the material terms of
the deal. Both seller and buyer must agree and understand the
deal and the concept of both parties having such a common
understanding is known as a “meeting of the minds.”
A trust describes the relationship between three separate
parties: 1) the grantor, who supplies the assets/funds; 2) a
trustee, who agrees to hold and administer the assets/funds
according to the grantor’s wishes (which are spelled out in the
trust); and 3) a beneficiary, who receives the assets/ funds.
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