Five Fact Friday – December 10, 2021

This week we’re talking about the many ways to pass property on to children. There are many options to consider, along with the legal and tax implications that go along with them….

We’ll also be talking about how melatonin may not be the answer to all of your sleeping problems.






Bonus – Annie Live!:

Full Transcript Below

I’m not really sleeping except one of the links this week talks about how to get better sleep. So I figured I could use it for an intro. I’m Victor Medina. This is Five Fact Friday. Hey everybody, welcome back to Five Fact Friday. I hope you found that intro at least the least bit amusing. Anyway, I wanna get to the links for this week but before I do, I have to let you know I have got a special bonus link for you. On December 2nd, they had a great presentation of Annie live. It was on TV and it was the musical Annie. The kids were fantastic. I’m actually including this as a bonus link, because if you wanna watch the full show, you have to be a member of Peacocks streaming network and the thing about it is it costs another monthly charge. I don’t know if that’s something you oughta do or not, but there are clips online and the link this week is actually to one of the clips online, where the kids are just fantastic, they’re onstage. If you can’t get excited about this, something wrong with you, but anyway, check it out.

Hey, let’s get into the links for this week and the first link is what I am reading. And it’s actually a really cool article talking about something that happened many Thanksgivings ago. You might’ve heard something about it. There was a grandma that re sent out a text message saying, are you gonna be joining us for Thanksgiving? And the reply back saying, I don’t know who you are, but I guess I’ll join you for Thanksgiving. And it turns out that the grandmother had texted the wrong individual, but found another young man who took her up on the invitation and it has been a feel-good story ever since. Well, turns out that there isn’t a good story out there that cannot be commercialized, this time in the form of a Netflix feature film. So there’s gonna be one coming out. It’s been a great story. They have by the way, gotten together almost every Thanksgiving since then and that’s another one that if you can’t get excited about, there just, there’s gotta be something wrong with you.

The next link is what I am watching and it’s actually the link that I got to in the front of this. I have been fascinated about the concept of sleep and specifically how to get better sleep. Maybe it’s because I don’t get great sleep. I end up wearing this ring that tells me how I sleep and every morning it tells me I slept poorly. Every once in a while, I’ll get above 80 on a scale of one to a hundred and I’ll feel like it was the best night’s sleep ever. But the point is this, I’ve discovered a great podcast by a sleep expert named Matt Walker and he actually talks about how much melatonin you should have. And by the way, melatonin is probably one of the most commonly referred to supplements that you should take. It’s like most people should know, hey, take some melatonin, but you might wanna learn a little bit more about it. It turns out that most of the melatonin that is available over the counter is way over the amount that your body naturally produces when you go to sleep. So if you’re wanting to know more about it, you could probably start to cut down on the amount of melatonin. I don’t take any melatonin at all, but I will tell you what I have been taking that actually seems to be helping. I don’t know, I just take these pills every morning. Tart cherry extract. There’s actually some research behind that. I take two pills in the morning. I’m getting slightly better sleep. I guess I’ll just keep taking them.

Anyway, the next link is a what’s new in tech. This one is so cool. Do you remember when Amazon opened up its Whole Foods that you could just walk in, grab whatever you needed, walk out and they would charge you for it? Well, Starbucks wants to do the same thing. They’re opening up a Starbucks walkout where you just can go in, grab something quick that you need and leave on your way out. Now, I don’t know how frequently this is gonna be used. Part of the whole process of going and getting a Starbucks drink is to order it a special way with all of your little things and then the barista goes in there and he or she makes it and you wait five minutes and you get a great cup of coffee. It’s not gonna be for that. They’re not gonna have these things just sitting there, but if you’re in there to get some chocolate covered espresso beans, or you just want a chocolate milk or something like that, then you can go in and walk out with it. Check it out and see if it’s for you.

The next link is what’s new in legal and it’s a question that we see so many times in our own practice. People will come in and say, hey, instead of doing this plan the way that you do, why don’t we just leave our kids this, this way? Maybe we would just leave them the home while we’re still alive, or maybe I’ll put their name on an account. And rather than listening to me, maybe you wanna read an article that will explain to you what the pros and cons are of leaving assets a particular way. Now, before you conclude anything in particular, you know that you’re gonna hear me say that you should probably engage an estate planning attorney, probably the Medina Law Group, to come and do your estate plan before you finalize on any particular strategy, but the idea is this, you should learn a little bit more rather than getting the advice that you’re gonna get from the hairdresser’s or from the barbershop where they just tell you to put your kid’s name on the account and all will be well. Probably won’t end up that way. You may wanna learn a little bit more about that.

The final link for this week is what’s new in retirement, and it is a topic that is near and dear to my heart. You all know that I published a book called Make It Last, Empowering Women In Retirement and really, we wanna make sure that we are providing women with the opportunity to overcome some of the traditional disadvantages that have been dealt to them in the investment world, but generally in life and around planning. And the book has been a wild success. I’ve been around to lots of different groups, speaking about it, giving away copies. In fact, if you’re interested in a copy, just let me know, and I’d be happy to send one just ’cause you watched this video, but you gotta reference this video if you want the free copy. The article that I’m referencing is actually one where they’re talking that about 50% of Americans recognize that there have been some disadvantages placed upon women in the world of investing and five things that you can do to overcome that. So if you wanna start with the article, start with the article, and then you can ask me for a copy of the book and I will give you a copy of the book, but you have to say in the email that you actually read or watched this video and then that was what the offer was. Listen, if you happen to be a member of a group, we would love the opportunity to come in, give a little book talk about this subject, and then also give the members there a free copy of the book for them as well.

Hey, so let’s recap for this week. The first link is what I am reading and that is an article that plays on the feature film that is been created of that missed text message between a grandma and a young boy that has sparked a friendship and relationship forever. The second link is what I am watching, and it is a video talking about the use of melatonin in sleep. What is new in tech is Starbucks new walkout, and what’s new in legal is different ways that you can leave assets to family members and what the right way might be for you. Finally, what’s new in retirement is disadvantages placed upon women and what we can be doing about it in the world of investing. Hey, we’re coming upon the holiday season. I just wanna let you know if you’re watching this far and you are a client of ours, we’re gonna be pulling up the ladder on December 17. That’s gonna be the last day in the office. We are giving everybody on the team a well-deserved rest. They’ve worked so hard for the last year. We wanna give them a couple of weeks off to be with their family and then we’re gonna hit the ground running in 2022. I think, 2022 is gonna be the best year ever and you get to help be a part of that. Thank you so much for everything that you do, but we’ve got a couple more of these videos yet to go in the year. We’re gonna try to keep you entertained with great new links. Until next time, we’ll see you soon. Bye bye.