Korean War Veterans Memorial, Washington, D.C.
“Heroes are ordinary people who make themselves extraordinary”
- Gerald Way
Have you traveled to Washington, D.C. and visited the architectural gems that line the National Mall? These symbols of American history tell our American stories. Among them is the Korean War Veterans Memorial pictured above. For me, this one is more than a group of statues, but a reminder of one of my first memories of war and loss.
When I was around nine years old, I remember a car driving up the road to our home with a crutch poked outside the window. It was carrying my Uncle Marvin who had survived a North Korean prison camp, starvation and punishment and a horrible wound to his leg. I remember that moment like it was yesterday. He weighed only 80 pounds.
Marvin and his brother, Ernie were with the US Army’s 3rd Battalion, 29thInfantry Regiment, which was newly formed with mostly inexperienced young men.
They were ordered to hold the pass near the South Korean village of Hadong. On July 27, 1950, they walked into an ambush resulting in heavy casualties including Marvin’s brother, Ernie.
At 91, Uncle Marvin remembers so much. On Saturday, while we were celebrating his birthday, he asked his son to show us the medal he received in appreciation of his service from the South Korean government.
The Korean War is said to be the forgotten war, but here we remember and honor our very special family hero.
Sarah Elise Berry – Celebrates a Special Birthday
When you meet Sarah, you know she’s is very special. Her financial planning skills, organization and follow through for client work is noteworthy. She grew up in Eugene, Oregon and Washington, DC. About 20 years ago she moved to Portland after graduating from the University of Oregon. She has a very active personal life raising her beautiful six-year-old, Bella.
She has been able to get back to some of the things she loves since COVID just on a modified scale. During the month of January, she was able to complete 16 Barre3 classes for the January challenge. Her love of spinning classes has now moved to Peloton which she does on days she can't make it into the studio. Bella is now in 1st grade and loving her school. Weekends are now spent at basketball games which will be baseball starting in the Spring. Sarah's favorite thing is to travel the world which has been a bit hard lately. Trips within the US this past year have included: Maui, NYC, Palm Springs, LA & Vegas. She is looking forward to finally putting that passport back to use in July for a trip to Paris with Cedric. Happy birthday, Sarah.
Financial Planning - Sharing Family Values
Some families avoid talking about money, but others find that family meetings can create some fun and provide meaningful conversations. The Institute for Preparing Heirs book Family Meetings, by Vic Preisser shares that over time sometimes through casual conversations, families come to understand their priorities. This can evolve to a Family Mission Statement around the purpose of family assets which can be more than financial. Here’s a checklist that can be used to establish family shared values for now and in the future:
Each one of these bullet points can be drilled down even further depending on your families’ priorities. Not everyone has the same interests, so even just talking about some of these things can help develop insights into how family members can manage their financial futures. Family meetings can be formal or informal. I’ve known clients who take a family vacation and make the family meeting discussions part of the agenda. You might start with the list above and keep the money conversation for a later time.
Raymond James Tax Documents
1099’s forms are being mailed to our clients and many are receiving two 1099 forms for their Raymond James retirement accounts. Both 1099 forms are valid are because Raymond James changed bank custodians during the year. Both banks are reporting the information while under their custody, therefore you will add the two together for the complete tax information showing all distributions and withholding. Next year, there should only be ONE for each account.
Form 5498 is the contribution summary for people who are contributing to their retirement accounts. This statement is most likely coming to you in two documents if you contributed throughout the year. Be sure to let us know if you have any questions.
Thank you for your patience as we work through tax season for you. We appreciate your patience and understanding.
Judith McGee, L.H.D., CFP®, ChFC®
Executive Vice President and Senior Lead Advisor
The next round of data on inflation begins this week with the release of the Consumer Price Index for January. Consumer prices rose 0.5% in December and 7.0% in 2021. Little change is expected in price pressure, at least through March, when the Federal Reserve is expected to raise interest rates for the first time since 2018 in what could be several such advances throughout this year.
Source: Broadridge Investor Communication Solutions, Inc.
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