Posts by Eric Scott

Be On the Alert for Medicare Scammers

  Scams related to Medicare this year include low-cost or free knee or back braces, or great deals for genetic testing. This year, scammers may demand that you send a gift card or wire money in exchange for not suspending your benefits.   Just Hang Up. Medicare will almost never call you, unless you have called them first. Neither will the IRS. If you get a phone call seeking your personal information like your Medicare number, Social Security number or bank account information, just hang up, especially if they get demanding or they call back repeatedly. Of the 332,000 reports
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The four cornerstones of a strong financial foundation

  CROSSROAD #3: RISK MANAGEMENT In Eric Scott’s book The Five Crossroads, written to lay out the principles of retirement planning that he has developed over his 30 years of experience as a financial advisor, the third crossroad that pre-retirees Sue and John reach is the “Risk Management” crossroad. In the narrative, the Guide in the book explains that, “Risk management is about building from a position of strength and support so you can plan for the worst while hoping for the best.” There are several things that could happen to negatively affect your retirement dream. Things like health issues,
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Road Trips from St. George

  Looking for your next getaway adventure? Here are four options – fun in every direction! 7 Hours North: Bear Lake Nestled in the mountains between the Utah-Idaho border at an elevation of 5,923 feet, Bear Lake is a natural, freshwater lake called the “Caribbean of the Rockies” for its unique turquoise-blue color, which is created by the refraction of light on the water’s suspended limestone composition. With sediment cores dated back to 250,000 years, Bear Lake is known by geologists as one of the oldest lakes in North America; it’s possibly several million years old. There’s plenty of American
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TAKE ADVANTAGE OF THE NEW TAX LAW NOW BEFORE IT SUNSETS

  You have seven more years to potentially save yourself a lot of money in taxes As you know, the “Tax Cuts and Jobs Act,” changed the income tax rates and tax brackets for individuals starting with the 2018 tax year. What you may not know is that the changes for individuals are temporary and will expire in 2025, meaning that for the 2026 tax year, they will revert back to 2017 levels. You need to act now in order to potentially take advantage of current lower rates.   THE MYTH OF THE LOWER TAX BRACKET IN RETIREMENT Taxable ordinary
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Golf Tip: What’s Your Handicap?

What’s Your Handicap? Many golfers, when asked that question, won’t be able to give an accurate answer. If you play regularly it’s a good thing to know. The purpose of the handicap system has always been to attempt to level the playing field for golfers with various abilities. Terminology There are a few terms you need to know to truly understand the handicapping calculation. A Handicap Index, issued by a golf club or golf association compares a player’s scoring ability to a scratch golfer* on a course of average difficulty. This number reflects a player’s potential score and is based
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CLIENT HIGHLIGHT: GERY & PAUL BRYSON

  Gery and Paul Bryson have been married for 35 years. Gery officially retired from nursing in 2006, although she has started a new career as a one-of-a-kind jewelry artist. By choice, Paul is only semi-retired from the police force, having launched a computer forensics business in St. George in 2006. He also works as a realtor due to his lifelong passion for residential architecture.   ABOUT GERY Gery was a nurse and still has her RN license, working for insurance companies for 19 years in case management, and in a hospital for 11 years before that. She decided on
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Retirement Sins: Baby Boomer Edition

  How prepared are you for retirement? Since 2011, the Insured Retirement Institute (IRI) has conducted a study every year on baby boomers aged 56 to 72 to reveal their readiness for retirement. According to this year’s study on the generation, only 55% of boomers have any money saved for retirement1. Some of the mistakes made by the people of this generation can be referred to as the “7 Deadly Sins of Retirement” according to MarketWatch.com: Not saving enough money – or any money at all, for that matter Spending and/or tapping into your retirement savings Neglecting to calculate your
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Preparing for Your Legacy

Your legacy is what you leave behind to loved ones and heirs after you’ve passed on, including assets, life-lessons and possessions.1 Losing a loved one is difficult, and you could lessen the stress of your family members by implementing a plan that takes care of your inheritance prior to your passing. Legacy planning can include leaving instructions for funeral arrangements, health directions, late-life care, wills and trusts. A case study conducted by Merrill Lynch found that only about half of survey respondents ages 55+ have a will in place.1 Part of this delay is simply due to the fact that
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Culinary Corner: Salsa Verde Chicken Casserole

Ingredients: 2 cups shredded rotisserie chicken 1 cup (8 ounces) sour cream 1-1/2 cups salsa verde, divided 8 corn tortillas (6 inch) 2 cups chopped tomatoes 1/4 cup minced fresh cilantro 2 cups shredded Monterey Jack cheese Optional toppings: Salsa, avocado slices, thinly sliced green onions or fresh cilantro leaves Directions: Combine the chicken, sour cream and 3/4 cup salsa in a small bowl. Spread 1/4 cup salsa on the bottom of a greased 8-in. square baking dish. Layer with half of the tortillas and chicken mixture; sprinkle with half the tomatoes, minced cilantro and half of the cheese. Repeat
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9 Things You Must Know About Social Security

Did you know that the age at which you start collecting Social Security has a big impact on the amount of money you receive every month from the program? Waiting to collect your benefit could cause it to grow by up to 8% until the age of 70, but collecting before your full retirement age could result in as much as a 25% permanent reduction of your benefit amount. But there are other factors to consider rather than simply age alone.  When choosing the best way to file in order to maximize your lifetime Social Security benefit, you have more
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