Five Fact Friday – March 12, 2021


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Transcript Below!

Are we heading for Armageddon? Well, if you asked NASA, that might be the case since they’re putting together a program where they’re gonna fly into an asteroid just to nudge it off course in case we ever have one of those headed for earth. NASA is taking its tips from Hollywood and I guess we should be thankful that they’re not adopting the Road Runner thrust maneuver. What am I talking about? Well, we’ve got that link and more because I’m Victor Medina and this is Five Fact Friday.

Hey everybody, welcome back to Five Fact Friday. I’m so glad that you can join us. Remember, this is the only video newsletter hosted by the Medina Retirement Planning YouTube channel which is where you’re watching it right now. And I’m glad that you can join us because we have a special program that’s coming up next week that we wanna invite you to. We’re gonna be hosting a series of virtual webinars. It’d be really more like digital live presentations where we’re gonna be talking about taxes in retirement and what you could do to help improve your chances of having a successful retirement and not having that pesky retirement business partner call the IRS determining how much of your retirement they get to keep whenever they feel like it. So if you’re interested in registering for that, there’s a link in the email that’s related to that or in the description here on the YouTube video that you can register for the upcoming program.

Now let’s get to the links for this week. The first link is what I’m reading. And I got to tell you I’m starting to lose focus on the article since it’s all about the cost of beer in every country. And I think that the only way to maintain journalistic integrity is to try as many of these beers as possible. If you’re interested to hear why a beer in one of the countries in the Middle East is twice or three times as expensive as here in the U.S. you should follow the link and check that out.

What I’m watching is actually a link that I was referencing in the opening to this video and in fact, it’s true. NASA is gonna try to fly into an asteroid with what they call the DART. I got to tell you it doesn’t really sound to me to be all that powerful. I would probably not be throwing a dart at an asteroid I’d probably want something much bigger than that, but they’re gonna see if they can knock an asteroid off course so that if they ever had one of these ones that was gonna barrel towards earth, they’d have some chance of knocking it off. In fact, what they probably should do is contact Bruce Willis because that’s who solves problems like this as we all know in Hollywood.

The next link is what’s new in tech and it’s a link actually in honor of Women’s History Month and specifically last week we had International Women’s Day, and it is a list of unsung women heroes and specifically in the area of tech. The one that I wanna highlight for you is Donna Dubinsky and she was somebody who worked at Apple for the first PDA. No, I’m not talking about public displays of affection but a personal digital assistant. And it’s one of those things that we take for granted now that our iPhone or Android phones are, but back in the day having something that could keep your calendar and you could keep notes and then eventually be able to do email was something that was novel and Donna got that work done. In fact, she later left to start a company called Handspring and that developed the first smartphone by most accounts. So enjoy reading that link.

What’s new in legal is a review of the Biden administration’s plans to change the contributions for Social Security. And so you’ve heard if you’ve been following any of the proposed tax policy that he doesn’t want to increase taxes on anyone making less than $400,000. But what does it mean for people that are making somewhere between 128 and $400,000? And how does that affect your Social Security contributions? It might be a very important thing for you to watch and learn more about and I encourage you to follow the link.

The last link is what’s new in retirement. It’s one of the reasons why you might want to be nicer to your grandparents if you’re a grandchild or if you’re a grandparent, I’d encourage people to be nicer to you. And it’s actually a shift in the way that 529 plans that were created by grandparents for grandchildren are being counted for financial aid. We’re opening the door to having grandparents be able to take advantage of 529 planning in a way that doesn’t negatively affect the financial aid application of their grandchildren. This is a major shift because for a long time anything that grandparents had put together was counted as part of the calculation as to what the student needed to contribute or what was the family’s contribution for college. So if you’d like to learn more about this planning opportunity you can go ahead and read the link.

But of course, the best way to do that is to become a client of ours where we do retirement planning for all of our clients. And we put a plan together for everyone that comes through our doors. We focus on their income, their investments, their tax and in this case related to this link their estate and legacy planning. And it might be an important thing for you to go through if you don’t already have a plan for retirement. If you’re just looking at the investments as some bucket but you don’t really have a plan about how you’re gonna use that you might benefit by putting one together. The first thing that you can do of course, is reach out to us if you’re interested in doing that and give us a call at our office at 609 818 0068 or you could see what it would be like to learn from us by attending the upcoming webinar next week. The live digital presentation that I’m putting together. It’s gonna be all about taxes. We’re gonna focus on that one sliver of what we do in a plan. And if you’d like to learn more about what it would be like to be a client, that’s actually a great entry into what it’d be like to work with us. ‘Cause you’ll hear from me about what I do when we do planning for other people, what we think you should be thinking about when you do planning for yourself.

So let’s recap the links for this week. The first link on what I am reading, it’s all about the beers across the world, their costs in each of the country. What I’m watching is the real life version of the Armageddon movie and NASA trying to destroy an asteroid. What’s new in tech is a celebration of women in tech. What’s new in legal is Biden, the Biden administration’s plan for Social Security and what’s new in retirement, why grandparents are now the new favorites when it comes to college planning. As I mentioned before, if you want to join us for our next week’s live digital presentation, feel free to register. Thankfully, we don’t have any limitations on how many people can join. So if you wanna do it, know that there’s a space available to you. It’s just the link on the internet. In fact, it’s going to be a live stream on YouTube and you’ll get the specific link to do that but you won’t get if you’re not registered. So please go ahead and do that. Other than that, I hope you have a good couple of weeks and we’ll catch it on the next Five Fact Friday. Bye bye.