Posts by Eric Scott

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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What You Need to Know Before Enrollment Ends on March 31st

Medicare Open Enrollment ended in December, but there are two other enrollment options that began at the beginning of 2019 and are still in effect until the end of March: Medicare Advantage Open Enrollment and the Medicare General Enrollment Period (GEP). From 2011 to 2018, people were not given the option to switch to a different Medicare Advantage plan outside of the fall open enrollment period (unless they were enrolled in a Special Enrollment Period).1 Starting in 2019, the Medicare Advantage Open Enrollment Period has been placed into effect,2 which allows you to make different types of changes to your
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Are You Standing at One of These Retirement Crossroads?

At Eric Scott Financial, we’ve worked with people on their retirement planning for decades, and during that time, we’ve helped people make decisions at important points along their journey. Our retirement planning process encompasses what we call “The Five Crossroads.” Here is a brief summary of each one. Retirement Income Once you stop working and having a regular paycheck coming in, your income becomes a top priority. We look at optimizing your Social Security along with any pensions, and then we help you create income streams from the assets you’ve accumulated. Our goal is to set you up with reliable
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