Welcome to LifeTime Asset Management’s 2020 Q2 newsletter. Our sincerest hope is that you, your families, and your friends are staying safe and healthy. As always, and especially during this difficult time, please let us know if there are other topics you’d like us to address in our newsletters. Thank you for being part of the LTAM family!
Life at LifeTime Asset
Thoughts from Alan King
“The same boiling water that softens the potato hardens the egg. It’s about what you’re made of, not the circumstances.” Right now, our circumstances are challenging. But at LTAM, we’re determined to respond by focusing on you , our clients.
These past few weeks, we’ve worked hard to find the safest ways to serve you. As an essential part of your lives and the community, LifeTime has remained open, offering our complete range of services, communicating with you remotely, and continuing to process mail and deliveries at our office.
You can reach us by phone, e-mail, or our online scheduling tool. If you have something to drop off at the office, please call first so we can make sure someone will be able to meet you and take appropriate precautions for everyone’s health and safety.
We can’t control the circumstances, but we can control our response. And our team’s response is to work together, to focus on you, and to continue to serve you safely. Let us know if there’s more we can do to support you during this time.
Please join us in welcoming the Limmer Wealth Management office into the LifeTime Asset Management family.
LifeTime is proud to announce—we’re growing! Limmer Wealth Management, a financial services firm located outside of Atlanta, recently merged with LifeTime Asset Management. This expansion of our footprint and services means a bigger team to serve you, our LifeTime clients.
“We’re building something special at LifeTime,” said LifeTime Asset Management CEO Matt Glova. “This merger is exciting for our LTAM family because it helps to grow our team and services, and also because it proves that others want to be a part of what we’re creating.”
Please help us welcome Georgia-based team members Mark Limmer, Jonathan Shepard, and Joan Cox to the LifeTime family.
Check out the team (and click to see their bios and some fun family pictures!) at lifetimeasset.com/meet-the-team.
LifeTime Asset Trivia
The trivia question in the Q1 newsletter was “ Matt Glova has won many awards. What is his latest award from Forbes?” The answer: Matt was named to Forbes’ Best-in-State Wealth Advisors list for 2020.*
Now try this one: Who is the most recent addition to the LifeTime Asset Management office in Raleigh? The first 5 that respond with the correct answer will receive a $25 gift card for Panera or Amazon (your choice)!
News & Updates
Tips for Protecting Yourself and Your Finances from Scams
The number of stories about fraudsters taking advantage of unsuspecting victims seems to grow by the day. What can you do to avoid scams and keep your money and personal information safe?
This article, “Scam Alert! Protecting Yourself and Your Finances,” provides information on four of the latest scams to keep an eye out for. It also outlines strategies for protecting yourself and your finances, best practices for handling suspicious phone calls, and tips for avoiding scams online.
To learn more, please take a moment to read the attached article. If you have any questions about this information, please don’t hesitate to contact our office.
Click Here to view the Market Update for the Quarter Ending March 31, 2020.
The Weekly Market Updates are available on the LifeTime Asset Management website and on our Facebook page.
Client Spotlight on… Pat Wilund
Pat and Bob Wilund have been LifeTime Asset clients for over 25 years. Pat is an amazing artist, and here is her story:
Art has always been an activity that I have enjoyed but could never find the time to properly explore. Retirement in Sun City Hilton Head has finally offered me the teacher talent, art room and time to pursue my desire to paint. Watercolor has been my choice of medium because that was where the most teacher talent was when we moved here.
The beauty of the low country of South Carolina gives me most of my inspiration for my paintings. The waterscapes with or without boats, swamps with or without Spanish moss and birds or rookeries full of water birds stimulate my creative interests. My biggest challenge in art is human figures. However, some of my best art has had figures in it. I guess that is because those figures have usually been family members and my heart has guided the paint on the paper.
My composition for my paintings comes from photos. I am usually working with two or three photos. The result, I hope, is something that a camera couldn’t achieve in one photo.
I don’t get as much art completed as I would like to because retirement hasn’t simplified my life. People found out that I can also sew and therefore my time is split between painting and sewing. Our “smaller retirement home” has multi-purpose rooms. My spouse’s office has my five sewing machines set up in it. (He is generously allowed a 4’ x 5’ corner for his computer work — when I am not sewing.) Our open concept living area is also a four generation art gallery. On normal days the dining room table has art on one half of it and alterations or creative sewing on the other half. The guest bedroom is the “for sale” art gallery and changing room for alterations customers.
Besides in my home, my art can be seen in the Sun City art room, at the Society of Bluffton Artists gallery, Alexander’s Restaurant, in Palmetto Dunes and from time to time at the “Cottage” Restaurant in Bluffton and Palmetto Commons in Sun City. My art followers, when requested, get a preview of my newly finished work that is about to go into a show. Although I have done art commissions it is not something I usually do. I prefer getting clients ideas and then putting them on a mailing list and they can purchase my artwork through me or the venue that I am showing at.
If you visit the Raleigh LTAM office, you’ll see some of Pat’s beautiful art, from Guy Swain’s collection, hanging on the walls!
Where Will Your Path Take You?
At LifeTime Asset, we are passionate about helping you reach your financial goals. A big part of this process is understanding your priorities, your hopes, and your dreams.
For many of us, the novel coronavirus has caused us to cancel or postpone travel plans, even those “trips of a lifetime” that had been planned for months or years. Our sincere wish is that you will be able to fulfill those travel plans soon. Meanwhile, if you have some fond memories and pictures of trips from years past, you can post the picture to our social media, or send a photo and caption for us to post for you. Who knows, you may even be featured in next quarter’s newsletter!
Here are pictures from clients who were able to travel earlier this year.
LifeTime Asset Management Events
LTAM’s 2nd NextGen Financial Symposium
On the evening of February 27, LifeTime Asset Management hosted our second installment of the NextGen Symposium for a packed house of 25 young adults. While the attendees enjoyed a taco bar and beverages, Guy Swain presented on the topic of investment basics.
This presentation emphasized the importance of saving early to leverage the power of compounding, identifying savings goals and time horizons, an overview of different types of investment options, and the importance of asset allocation. Matt Hall followed up with a discussion of the various types of retirement savings accounts, the value of tax deferral, a comparison of pre-tax versus Roth after-tax contributions, and the advantages of saving through a retirement savings plan.
We have been encouraged by the popularity of the NextGen Symposium, and plan to continue offering these quarterly sessions as soon as it is safe to hold gatherings again. Future topics will include the importance of life and disability insurance, taking full advantage of employee benefit offerings and basic estate planning. Stay tuned!
SHRED for a Cause—LTAM Event Raises Nearly $2,000 for Boys & Girls Clubs
Once again, LTAM’s annual SHRED event offered safe, eco-friendly document shredding and technology recycling to our clients and their families. This year’s event also raised almost $2,000 for the local Boys & Girls Clubs.
Volunteers from the Boys & Girls Clubs of Wake County were on-site, helping us safely shred documents and recycle old electronics. They collected almost $1,000 in donations from event attendees, and LifeTime was proud to match those donations —totaling almost $2,000 raised for the clubs!
We look forward to offering this event again next year. Thank you to our clients and their guests for making this event a success.
Corny Jokes Contest
Having a sense of humor is difficult in hard times, but right now, laughter could be more important than ever. In that spirit, this month’s contest is a quest for the corniest joke. The winner will receive a $25 gift card to—what else?—Amazon!
Email anyone at LTAM with your entries, and the LifeTime team will vote to determine the winner. Bring on the laughs!
*The 2020 ranking of the Forbes’ Best-in-State Wealth Advisors list was developed by SHOOK Research and is based on in-person and telephone due-diligence meetings to evaluate each advisor qualitatively and on a ranking algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria (including assets under management and revenue generated for their firms). Overall, 32,000 advisors were considered, and 4,000 (12.5) percent of candidates) were recognized. This recognition and the due-diligence process conducted are not indicative of the advisor’s future performance. Your experience may vary. Winners are organized and ranked by state. Some states may have more advisors than others. You are encouraged to conduct your own research to determine if the advisor is right for you. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. SHOOK does not receive a fee in exchange for rankings. The full methodology that Forbes developed in partnership with SHOOK Research is available here.