The greatest compliment you can give us is an introduction
to a loved one or friend.
2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
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VIP Personal Introduction
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
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Dear Introduction,
You have probably never heard of Copia Wealth Management and
Insurance Services and Copia Wealth Management Advisors, Inc., but
one of our top clients and mutual friend suggested I be introduced to
you. This booklet is meant to convey some of the unique services and
ideas we have developed for use with individuals such as yourself.
We have worked with your friends for a while now and built a great
relationship of trust with them and their family over time. Our
practice is selective and we work mostly with referrals from existing
clients.
I would enjoy the opportunity to talk with you about some of the
things we do at Copia and how those services might positively impact
your financial, retirement, and investment needs today or potentially
down the road. We want to educate and empower you to make
strategic financial decisions to improve your standard of living and
achieve financial independence.
Included in this booklet is information about our firm. We look
forward to hearing from you to reserve a time to meet in person.
Sincerely,
Elisabeth Dawson, President and CEO
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
Our Vision is to do great things for great
people, to create an amazing life by design
and not life by casualties.
Our Mission is to consciously analyze, strategize, find solutions and
support people in avoiding worry and emotional suffering that is
commonly attached to the psychology of money.
We Understand that money is the #1 cause for emotional distress in
a person’s life as an individual, in their relationships, in families, in
friendships, in business, in our country and globally. When there is
lack of full clarity on the relationship with money, anxiety and stress
overcomes a life of quality and happiness. That is why we are
passionate and caring on simplifying the complexity of money and
financial issues in all these areas of life. We care and take seriously
all coaching processes, reason being why we deliver a wide view of
money, great possibilities and precise strategies. This creates clarity
and gives back power over your finances, life and future.
In this society, it is a blessing when you have respect for money and
you value how you earn it, how you manage it, and how you
multiply it. It is our privilege and mission to support you on your
financial journey and freedom.
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2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
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2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
Empowering You to Achieve Financial Independence
Through Financial Coaching
Just imagine a complete plan, where all your insurance, financial, retirement
planning and estate planning needs are addressed and easy to understand. Our
comprehensive and coordinated approach ensures that your plan is developed
using a holistic view. Our experience shows that our clients’ needs are best met by
focusing on processes and most importantly, people.
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
We offer:
• Retirement Income Distribution
Strategies For Life
• Financial Coaching
• Life Insurance
• Disability Income Protection
• Beneficiary Review
• Retirement Planning & Analysis
• Pension & Defined Benefit Plans
• Cash Flow Analysis of Present and Future
Expenses
• Fixed Indexed Annuities
• Estate Planning
• Charitable Giving
• Asset Protection
Pg. 5
2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
What Keeps You Up at Night?
Will I outlive my money?
Can I afford to retire?
Can I pay my bills?
What if I have a major health event?
What Health Insurance option is right
for me?
What will Medicare cover?
Do I have enough money for a
down payment on home?
Can I afford to pay for my
children’s college education?/Wedding?
Who will take care of my children if I
pass away?
Can I afford to start my own business?
Can I afford to go back to school?
How do I Buy or Sell a Business?
How can I reduce or eliminate taxes?
The Copia Wealth Acceleration Pathway
COPIA Vision: Invent your ideal future
During this meeting, we’ll explore your dreams, hopes, and bigger game you want to play. We’ll show you surprising
strategies for making a meaningful transformation in your human, intellectual, financial and civic assets. By understanding
what’s possible empowers you to turn your ‘wish list’ into a ‘got it’ list.
COPIA Wealth Acceleration Pathway
You’ll learn about the key concepts, principles, and strategies for accelerating your wealth, starting rightfrom
wherever you are now. You’ll get clear about the steps to take to produce results that mean the most to you.
COPIA Discovery & Review
We take you through a structured, comprehensive approach for understanding your current
financial position, resources, strengths, and opportunities.
COPIA Present Plan: Your Current Financial Snapshot
After gaining an understanding of your current situation, we take a one-page look at
where you are financially, the products, tools, and strategies you have, and a list of
action items to complete.
COPIA Success Formula
This meeting ensures your understanding of necessary financial principles
and the recommended “success formula” for your financial and civic
assets. Some of the key areas include wealth transfers, recovering
lost opportunities costs, and getting one dollar to do the work of
many. We also discover hidden assets (money and other assets) and
find and plug money leaks
Copia Wealth Acceleration Strategies
We give you a clear numerical “x-ray” of your current economic environment; this
is the road you’re heading down. We’ll identify real and potential problems. Then we’
ll show you how to make more efficient financial decisions by re-directing your existing
resources.
COPIA Action Blueprint
The Copia Action Blueprint is a visual model that shows you a set of unique strategies for achieving
wealth and prosperity. This blueprint also provides mathematical calculations verifying that there is a
more efficient way to accelerate your wealth. These strategies create better benefits, more money supply,
and improved cashflow that enhances your lifestyle without spending any more you are currently spending
today.
COPIA Acceleration In Action
With all contracts, supporting documentation, and preparatory steps completed, your Copia team begins
implementing your wealth acceleration plan and making things happen! This is a very exciting time because all your
efforts are coming to fruition and now you get to see your money actually working for you.
COPIA Accountability Factor
To ensure you stay on track, we arrange private coaching sessions as well as monthly, quarterly, and annual review
meetings.
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2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
Meet Our Team!
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2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
Hello!
It is our pleasure to welcome you to Copia Wealth Management & Insurance Services and Copia
Wealth Management Adv. We choose our Team carefully and hold the quality of work we produce to
a level of excellence. Our team’s level of commitment and loyalty to our mission is what makes us
confident in being able to serve you in the way that we do. Please take a moment to learn a little
about what each of our team members are doing every day for clients like you.
ELISABETH DAWSON
President | CEO
for Copia Wealth Management & Insurance Services
and Copia Wealth Management Advisors, Inc.
Elisabeth is the founder of Copia Wealth Management & Insurance
Services and Copia Wealth Management Advisors, Inc. Her
macroeconomic approach begins with a comprehensive evaluation of
a clients “Wish List” and financial engineering strategies to achieve
successful results with minimized risk. Unlike other traditional
financial planning firms, COPIA Wealth Management & Insurance
Services with Elisabeth as President and CEO, will educate and
counsel you through every financial task and decision in your life.
Elisabeth specializes in working with entrepreneurs, small businesses,
individuals, couples, families and multi-generational legacy families.
Her financial areas of expertise include: insurance, various
investment strategies, income protection, tax mitigation strategies,
and wealth accumulation strategies
JENNIFER MILLER
HR Director | Executive Assistant to CEO | General Manager
for Copia Wealth Management & Insurance Services
and Copia Wealth Management Advisors, Inc.
Jennifer has been with Elisabeth for over seven years. As Elisabeth’s
right-hand lady, she wears many hats. Jennifer is our General
Manager, Human Resources Director, and the Executive Assistant to
Elisabeth. Using her experience and knowledge, she guides the rest
of the team to do their best for our clients every day.
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
Pg. 8
2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
KATIE STECK
Case Manager at
Copia Wealth Management & Insurance Services
Katie, our Case Manager keeps herself very busy
prepping and managing all ongoing cases. She is
the bridge of communication between Elisabeth
and our clients. She helps Elisabeth design plans
for our clients that lead them to success and to
achieve their goals.
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
MELISSA FLORES
Event Coordinator at
Copia Wealth Management & Insurance Services
As Event Coordinator, Melissa helps enhance our
visibility in the local community by assisting with the
development of our local marketing materials and
planning successful events. She is also on top of all
marketing initiatives. Her commitment to customer
service continues to be the priority.
BARBARA D’AGOSTINO
Marketing Director at
Copia Wealth Management & Insurance Services
Barbara is our Marketing Director. She is
responsible for planning and implementing sales,
marketing and product development programs,
both short and long range. Barbara also plans and
oversees advertising and promotion activities
including print, online, electronic media, and
direct mail.
Pg. 9
2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
RACHAEL SCHERBAUM
Executive Services Administrator and
Assistant to the General Manager at
Copia Wealth Management & Insurance Services
Rachael is the Junior Executive Assistant to our
General Manager. Under Jennifers wing, she assists
with the day to day responsibilities that keep the
office running smoothly. She not only keeps the
office organized, but helps monitor case
development and scheduling appointments while
eagerly learning the ins and outs of the financial
industry. Her commitment to customer service
continues to be the priority
STEVEN KIME
Customer Service Relations Specialist and
Executive Assistant to the Case Manager at
Copia Wealth Management & Insurance Services
Steven is our Junior Executive Assistant. He assists
with the day to day responsibilities. Through
monitoring case development and scheduling
appointments, he is eagerly learning the ins and
outs of the financial industry while also keeping
excellent customer service his number one priority.
Pg. 10
2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
Author & Entrepreneur
As seen and heard on…
Every Saturday morning at 7:00 a.m.
Culture|August 7, 2018By Nina Bahadur
What Financial
Planners Want You to
Know Before You
Donate to Charity
Give smart.
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ericsphotography/Getty Images. Graphic by Cristina Cianci
In the age of online giving campaigns, donating to charity has never been easier: Just a
few clicks can help make a tremendous difference to your cause of choice. According
to Charity Navigator, Americans donated $410.02 billion to charitable causes in 2017,
and a full 70 percent of that came from individual contributions.
While donating money may be a simple as clicking your mouse or texting the Red
Cross, there’s actually a lot to consider when it comes to what you can afford and
where you should direct your donations. We asked financial planners to answer the
most important questions about donating to charity. What’s the right amount to give?
How can you tell if a charity is good? Can you get a tax break for charitable
deductions? And do you really need that receipt from dropping off clothes at the
Salvation Army? Here’s everything financial planners want you to know.
Before donating anything, it’s
important to determine if you’re
financially ready to do so.
“Often we focus on helping others before we help ourselves,” Emily Boothroyd, a
private wealth advisor at Price Financial Group, tells SELF. “I’ve always been a fan of
the oxygen mask analogy: When you travel on a plane, you’re advised to put on your
own oxygen mask before you help others. Financial planning is the same waymake
sure you’re financially stable before you give back.”
According to Boothroyd, there are a few questions to ask yourself before you pledge
to making large financial charitable donations. Do you pay off your credit cards in full
each month? Do you have an easily-accessible emergency fund that will reasonably
cover expenses if there was an emergency or you lost your job? Are you saving for
retirement? If you can’t honestly answer yes to those questions, you may want to put
your money toward your own savings for now, and donate your time to causes that
matter to you until you’re more financially secure. “This way, you’re helping the
community, networking, and staying on track with your finances,” Boothroyd says.
If you’re in a good place to donate
regularly, the next step is to make a
budget in order to find out how
much you can afford to give.
Knowing exactly what your own financial situation is will help you determine how much
you can reasonably afford to donate. There’s no hard and fast rule about how much
anyone “should” be giving—it’s a very personal choice. Elisabeth Dawson, founder
of COPIA Wealth Management, suggests aiming to donate 10 percent of your
discretionary income—that’s what you make after taxes and necessary expenditures
on food and housing.
“Getting your own house in order allows you the freedom to feel like you can afford
to give,” Annette Hammortree, a financial planner with Hammortree Financial Services,
tells SELF. “In other words, the fear for most people is that they don't have enough
money for themselves for their own retirement or legacy to their family but the reality
is creating a financial plan will let them see they can do both.”
Make monthly and annual budgets to see what’s possible. Firstly, take a look at your
annual and monthly household income after taxes and paycheck deductions (like
retirement savings, which experts suggest 15 percent of each paycheck should go to, and
health insurance), and make a list of your non-negotiable monthly payments like rent,
bills, and student loans. Then track your spending for a few months to see how much
you typically spend on things like groceries, gas or transportation, clothes,
entertainment, and hobbies. (These budgeting apps can help!) How much are you
putting into savings? Do you have money left over at the end of each month, or are
you living paycheck-to-paycheck? Can you cut down on any specific areas of
spending to give yourself some more wiggle room? Once you know exactly what you
are spending, and on what, you can see whether or not donating 10 percent of your
discretionary income is currently possible, or if there are changes you can make like
ditching your expensive latte habit.
If you have a family, Boothroyd suggests getting your kids involved in helping to
budget for charity. “Ask your kids about causes they care about,” she says. “Give
them a charitable ‘allowance’ and ask them to get into the habit of researching
organizations.”
Research organizations before you
give so that you feel confident your
money will be used responsibly and
effectively.
Have you ever donated to someone’s birthday fundraiser on Facebook without really
looking into the charity, or run a 5K for a cause you don’t know much about? These
are generous acts, but if you want to take charitable giving seriouslyand donate
significant amount of money, or contribute regularlyyou want to be well informed
about the charities you’re giving to.
One good sign that a charity is reputable: It has an official tax-exempt status with the
Internal Revenue Service.
“Religious organizations automatically get tax-exempt status with the IRS, but all
others need to register,” Allison Youatt Schnable, assistant professor in nonprofit
management and philanthropy at the Indiana University School of Public and
Environmental Affairs, tells SELF. “A charity that isn’t IRS-registered or can’t
provide you with a tax-exempt number is a red flag. If you aren’t sure about an
organization’s status, you can verify it online.” Youatt Schnable recommends looking
up nonprofits on Guidestar, CharityWatch and Charity Navigator, which show you
information including a nonprofit’s financials, a rating of how transparent they are
about how the charity is run, and information on how much of the program’s funds go
towards programming.
Giving to a local organization can
have a different impact that giving to
a large national or international
charity.
“The best organization to give to depends on the kind of change you want to see in the
world,” says Youatt Schnable. “Local charities are close to the ground and can serve
local needs, and are best at building community. National charities can work on large-
scale advocacy, fund research, or have capacity to deal with major crises. But large or
small, any nonprofit organization should be transparent about where its money comes
from and how it’s spent. The organization should also have clear goals and be able to
tell you how it measures its success.”
Jeremy Straub, the CEO of financial planning firm Coastal Wealth, notes that you
might be more likely to see the visible impact of a donation to a smaller charity.
“Typically, when you donate dollars on a local level you will have the satisfaction of
seeing the dial move by the people that nonprofits services,” he says. But ultimately?
“It is better to give to a nonprofit that you feel is important, whether big or small.”
You might have financial assets
other than straight-up cash that you
can donate.
Straub says there are a variety of financial assets that you can use to give to charities
other than just taking cash out of your bank account. For instance, if a grandparent left
you some money, or if someone gave you stock as a graduation present, you can
contact the brokerage firm or bank holding the assets to ask them how you’d go about
transferring it to charity, which can be as simple as filling out a form.
Another option is to donate a physical asset, like an old car, if you don’t think you’d
get much money for it if you traded it in or sold it, or if you have a spare vehicle you
just want to get rid of. Actually donating a car to charity is usually simple: Just call
the organization of your choice, and they’ll come pick it up. Things get a bit more
complicated if you want to deduct the donation from your taxesthat means
subtracting the value of the donation from your income to lower the amount of taxes
you have to pay. You need to figure out the fair market value of your vehicle, and what
the charity plans to do with it. If they sell it, you can deduct the price they sell it for. If
they plan to use the car, you can deduct the fair market value. The IRS has a pretty
comprehensive pamphlet on vehicle donation that explains the process in more detail.
Even better for you and for the charity is if you donate something that has appreciated
in value, like a painting, R.J. Weiss, a certified financial planner and founder of
the The Ways to Wealth, tells SELF. “By doing so, one can avoid capital gains tax on
the profit of that investment,” which means you won’t be responsible for paying the
tax on the increased value of the asset. (We’ll talk more about taxes in a minute.)
“Say a family bought a piece of art from an artist for $500 and the artist became
famous, making the art worth $500,000,” posits Joshua Escalante Troesh, founder
of Purposeful Strategic Partners. Depending on how it’s used by the charity they give it
to, the family may be able to take a large tax deduction based on the fair market value
of the painting, $500,000.
When you donate items like
household goods and clothing, you
should always get an itemized
receipt. In fact, keep strong records
of any and all financial giving.
A donation receipt can be emailed or given on paper, and should include a bunch of
information including the donor’s name, the nonprofit’s name, the date the donation
was made, and how much was donated or the value of donated goods. These receipts
are required for donations of $250 and over if you want to claim them as deductions on
your taxes, but you should request them for anything, since it all adds up. That being
said, you have to have a lot of deductions to actually get a tax break…read on.
While charitable donations are tax
deductible, you may not get that
benefit on your federal tax returns.
When you file your federal taxes, you can deduct certain costs to lower your total
taxable income (and therefore the total taxes you have to pay on that income). There
are two basic ways to do this: by taking the standard deduction, or by doing itemized
deductions. The standard deduction is a set amount determined by the government. It
requires no math on your part and effectively lowers everyone’s taxable income by
the same amount based on filing status (like whether you’re filing on your own, or
jointly as a married couple). When you itemize deductions, you have to list each
onesuch as state and property taxes, mortgage interest, and charitable donations
which is beneficial if the total is larger than the standard deduction. The Tax Cuts and
Jobs Act passed last year makes things a bit different for this upcoming tax season,
because the standard deduction for individuals and couples is significantly higher than
before$12,000 and $24,000, respectively.
Roger Ma, founder of financial planning firm Lifelaidout, says that with such a high
standard deduction, many people may not have enough itemized deductions to make
itemizing worth it. “If you don't pay a lot of state taxes and don't own a home (so you
don't pay property taxes or mortgage interest), you may not itemize deductions at all
and instead may just take the standard deduction,” he explains. “In that case, your
charitable contribution wouldn't provide you with any tax savings.”
To be clear: Only taxpayers who itemize their deductionsdeducting over $12,000
for an individual or $24,000 for married a couple filing jointlywill get a tax break
for their charitable donations. (So if you lose that Salvation Army receipt, it won’t
make a difference unless you itemize your deductions.)
James Nevers, a financial planner at Soundmark Wealth Management, suggests getting
around this with a donor-advised fund. “DAF accounts allow you to ‘pre-fund’ several
years’ worth of donations today, thus receiving the tax deduction based on the lump
sum,” he tells SELF. “From there you can disburse your annual donations over several
years.” In order for this to work, you have to be able to part with multiple years’
worth of donations up front; some accounts can be opened with as little as $2,500 to
start.
Ultimately, just consider what you
can reasonably do to support
causes you care about, in whatever
way you can.
If giving money to charity just isn’t in the cards for you right now, that’s totally okay.
You can still make a difference by volunteering, calling your elected representatives,
attending a protest, or simply talking to other people about causes that matter to you.
SELF Culture|August 22, 2018|
By
Nina Bahadur
How to Make Sure
Your Charitable
Giving Is Going to the
Right Place
So, you want to donate money to a cause you care about. Maybe a news story got you
riled up, or a relative has a health condition you want to help spread awareness about.
If you’re in a position to make a financial donation, that’s great. But if you really want
to be sure your charitable giving is going to the best possible use, it’s best to do some
due diligence before clicking the Donate Now button.
The sad truth is that not all charities are created equal. “With social media part of our
daily lives, it is inevitable that we will be exposed to a charitable scam,” Catherine
Azeles, an investment consultant with Conrad Siegel, tells SELF. “Many scammers
use social media to pretend that they are acting on behalf of a well-known charity.
Others will use heartbreaking tragedies to create phony websites and solicit
contributions that will never make it to the victims.”
Even a legitimate, non-scam charity can have significant problems. A poorly run
charity may not manage donations well, lessening the chance that your gift is used for
the intended purpose.
We spoke to financial experts to find out what you should do to make your donations
count.
Pick a charity that feels right.
“You [want to] know your donation is going in the right direction, aligned with your
beliefs,” Elisabeth Dawson, founder of COPIA Wealth Management, tells SELF. “Do
your homework and read their mission statement and goals.”
Be sure to consider both large, national or international organizations as well as local
charities; one might be a better fit for your charitable goals, Patrick Huey, a certified
financial planner, tells SELF. He says that he always guides his clients to consider
both options. “They may find that the problems they want to tackle are large and
require national charities to address them. Or they may find that a local impact is more
important and smaller charities are their preferred method of creating change,” he
says, adding, “Neither approach is better than the other, they depend entirely on what
the client is trying to achieve.”
You can be choosy about how your
donations are actually put to use.
When you find a cause you want to support, look at the various organizations working
for the same cause and go with the one that approaches it in a way that resonates with
you.
Picture how you want your money spent and let that guide you. For example, if you
want to donate to an animal rescue charity, think about the specifics of where your
money could go: Transporting adoptable animals from areas of low demand to high
demand? Covering veterinary bills? Staffing shelters? Funding neuter and spay
programs? Providing animal feed and toys?
Or let’s say you are interested in donating money to an organization helping children
separated from their families at the border. Some organizations specialize in legal
representation for undocumented migrants, while others provide supplies for detained
kids or translation services during immigration proceedings.
Do some research to make sure a
charity is reputable and uses its
donations responsibly.
“Donors have an obligation to ask questions,” Gena Rotstein, a co-founder of Karma
& Cents Inc. who advises financial professionals and their clients on strategic giving,
tells SELF. “Similar to what you would do when considering an investment in a fund
or business, get a picture. Who else is operating in the space? What are the
qualifications of the leadership? How is the solution that is being presented going to
actually address the issue (as opposed to just continue to fund a problem)?”
Most reputable charities will have a ton of information available online about how
they are run, what they do, who oversees their programming, and how they protect
donor privacy. A little research can go a long way to being sure that any money you
give them will actually go to the cause.
You want to make sure that a charity is registered with the IRS—if it’s not, that’s a
red flag, Allison Youatt Schnable, assistant professor in nonprofit management and
philanthropy at the Indiana University School of Public and Environmental
Affairs, previously told SELF. They should be able to provide you with their tax-
exempt number, or you can verify it online.
“Take a minute to look up the charity of your choice or browse top charities on
websites such as GiveWell, Guidestar, or Charity Navigator,” Holly Mazzocca,
principal and wealth advisor at Bartlett Wealth Management in Cincinnati, Ohio, tells
SELF. These sites evaluate and rate charities on how they use donations and how well
the organizations are run.
“If you are really into the numbers, you can look up an organization’s Form 990 on
Guidestar, which is a financial report that most accredited nonprofits are required to
file with the IRS annually,” says Mazzocca.
Evaluating the financial health and business practices of a charity you’re considering
is 100 percent necessary, according to Huey. “If you aren’t an expert at reading
financial reports, find someone to help,” he says. Even if you are a financial whiz, the
whole thing can get a little confusing. What you specifically want to find out is how
much donated money goes to the cause you want to support, versus overhead
expenses.
But don’t fall for what Youatt Schnable calls the “overhead myth” that the less money
an organization spends on fundraising and administration, the better. “Research shows
that the most effective nonprofits invest in their staff and infrastructure so that their
programs can thrive,” she says.
But what you learn may affect your decision to donate. Consider a charity that runs
after-school programs for kids in need. The organization might use a large chunk of
your donation to pay salaries for the program staff. I you want to make a more
personal, direct impact on the kids, you might ask if the charity has an Amazon
wishlist or donation drive to provide backpacks and supplies for the studentsor find
another group to give to.
If you need help, chances are you have friends who are involved with charities: Ask
them about why they chose a certain organization and if they’re happy with where
their donations are going. Or if there’s a local charity you’re interested in, call them
up and ask to drop in for a volunteer event or meet some of the staff.
“People are truly passionate about the organizations they love and are always willing
to take the time to tell you more,” Mazzocca says.
Keywords
Charity, Money
Investment advice offered through Copia Wealth Management Advisors, Inc.
Copia Wealth Management Advisors, Inc. is a registered investment adviser.
What is enough? If you’re considering retiring in
the near future, you’ve probably heard or read that you
need about 70% of your year end salary to live
comfortably in retirement. This estimate is frequently
repeated… but that doesn’t mean it is true for
everyone. It may not be true for you. Consider the
following factors:
How Much Money Will You Need
In Retirement?
Will you have enough? When it comes to retirement income, a
casual assumption may prove to be woefully inaccurate. You won’t learn
how much retirement income you’ll need by reading this article. Consider
meeting with us and we will help estimate your lifestyle needs and short-
term and long-term expenses.
2333 Camino Del Rio South, Suite 240. San Diego CA 92108
(P) 619.640.2622 · (F) 619.640.2600 · www.CopiaWM.com
Health. Most of us will face a major health problem at some point in our lives. Think, for a
moment, about the costs of prescription medicines, and recurring treatment for chronic
ailments. These costs can really take a bite out of retirement income, even with a great health
care plan.
Heredity. If you come from a family where people frequently live into their 80s and 90s, you
may live as long or longer. Imagine retiring at 55 and living to 95 or 100. You would need 40-45
years of steady retirement income.
Portfolio. Many people retire with investment portfolios they haven’t reviewed in years, with
asset allocations that may no longer be appropriate. New retirees sometimes carry too much
risk in their portfolios, with the result being that the retirement income from their investments
fluctuates wildly with the volatility of the market. Other retirees are super conservative investors:
their portfolios are so risk-averse that they can’t earn enough to keep up even moderate
inflation, and over time, they find they have less and less purchasing power.
Spending habits. Do you only spend 70% of your salary? Probably not. If you’re like many
Americans, you probably spend 90% or 95% of it. Will your spending habits change drastically
once you retire? Again, probably not.
What if you or your spouse need long-term care? Genworths 2016 Cost of Care Survey says that the median cost
of a semi-private nursing home room was $6,844 last year. How many years of such care would you be willing to
pay for out of your savings? True, long-term care insurance has grown costlier. True, some people may never
need it. Even so, three or four years of such care for you, your spouse, or your elderly parents might draw
down your retirement savings more quickly than you would imagine. Think of how large those costs might be ten
or twenty years from now. Long-term care coverage may end up being worth every penny.
1
k
Insuring yourself against the above possibilities is only prudent. With such coverage in place,
you may go a long way toward insuring the quality of your retirement as well.
Citations.
1 - genworth.com/about-us/industry-expertise/cost-of-care.html [6/22/16]
2333 Camino Del Rio South, Suite 240. San Diego CA 92108
(P) 619.640.2622 · (F) 619.640.2600 · www.CopiaWM.com · www.CWMAinc.com
You plan for retirement with expectations in mind. You hope to
enjoy a certain quality of life, with sufficient income resulting from
smart financial choices. Ideally, your future unfolds as planned.
j
But what if the unexpected happens? Will you have the right
insurance in place to deal with it?
Insurance matters more in retirement planning than you may
think. It is seldom top of mindin retirement planning
conversations, but the right coverage could help you maintain some
financial equilibrium in the face of sudden money pressures.
Could Insurance Rescue
You in Retirement?
Certain kinds of coverage may help to sustain you financially in an emergency.
A life insurance payout could provide income for a surviving spouse. Thanks to late-night TV commercials
marketing small funeral insurance policies, many retirees associate life insurance benefits with paying off burial
costs. Benefits from larger policies can potentially accomplish much more.
k
Suppose a 75-year-old widow receives a $500,000 death benefit from a policy purchased by her late spouse. An
income stream could be arranged from that death benefit, with the widow receiving $20,000 annually from that
lump sum (or more) into her nineties. The payout could also be invested.
Liability insurance could help you out in retirement. As an example, say you are one of three drivers involved in a
multi-car accident that leaves a teenager with a disability. You are the only driver cited for a traffic violation, and
you happen to be in your seventies. You could now be a target for predators and creditors.Say you have some
neighbors over for a barbecue, and one of them stumbles on your patio and breaks an arm or a hip; a lawsuit
may be next. Few retirees think about or carry umbrella liability policies, but more may want to consider them.
Investment advice offered through Copia Wealth Management Advisors, Inc.
Copia Wealth Management Advisors, Inc. is a registered investment adviser.
On average, women outlive their husbands.
According to the Social Security Administration’s
estimate, the average 65-year-old woman will
outlive the average 65-year-old man by more than
two years, dying at age 86½. Averages aside, it also
estimates that about a quarter of todays 65-year-
olds will live into their nineties. Around 10% will live
to age 95 or beyond.
1
The Risk of Being a Suddenly
Single Woman
Contending with the possibility of widowhood.
Eyeing these figures, it is easy to deduce that some women may outlive their spouses by five
years or longer and contend with complex financial issues after age 85. There is one detail,
however, that all these facts and figures leave out.
The average age of widowhood in the U.S. is 59. A widow might spend 30 or more years
managing her finances. Is she prepared for this possibility?
2
Too often, conversations about money are male driven. A recent Key Private Bank survey
confirms this. The wealth management firm polled financial professionals, and the advisors
responding said that women took the lead in just 3% of their talks with married couples. More
than 80% of these advisors said that most of their female clients had no contingency plan to
respond to the risk of being widowed.
2
Women need to plan for the probability of someday managing their finances. Given the above
statistics, “probability” is not too strong a word. What steps should be taken?
Both spouses should be financially literate. Some women are extremely well versed in investing,
retirement planning, and personal finance matters.
A successive investment policy can be determined. A
widow may want (or need) to take a different investment
approach than the one stated in a couple’s investment
policy statement (IPS). This approach needs to be one
she is comfortable with, but it must not be so risk averse
that it jeopardizes her potential to sustain her standard
of living in the face of inflation.
An asset map should be prepared for a surviving spouse. Some widows must search for vital
financial documents because a deceased spouse left them in an obscure location. Other times, a
widow is left with only a hazy understanding of how many accounts there are, how they are
titled, and how to address the requirements of asset distribution or transfer. Each spouse should
have a copy of a document (or access to an online or brick-and-mortar vault) where this
information is kept. This is the information from which much of a widows financial future may be
planned.
With a clear understanding of where she stands, financially, a widow may evaluate her investment
and wealth management options and take steps toward the next phase of life with some
confidence.
Citations.
1 - ssa.gov/planners/lifeexpectancy.html [12/18/17]
2 - cnbc.com/2017/09/05/how-to-prepare-for-being-suddenly-single.html [9/5/17]
Sufficient insurance and a thoughtful estate plan
need to be in place. If a spouse dies, the death
benefit from a permanent life insurance policy may
ease some of the financial pressures that follow. Up-
to-date beneficiary designations, trusts, and other
estate planning mechanisms may help assets
transfer from spouse to spouse and within the
family without contention or undue delay. A good
estate plan clearly defines the steps of the asset
transfer process for a surviving spouse and other
heirs.
License #0C72164, 0G81294
Copia Wealth Management & Insurance Services
2333 Camino Del Rio South, Suite 240. San Diego CA 92108
(P) 619.640.2622 · (F) 619.640.2600 · www.CopiaWM.com · www.CWMAinc.com
Investment advice offered through Copia Wealth Management Advisors, Inc.
Copia Wealth Management Advisors, Inc. is a registered investment adviser.
Some people mistake investing for financial planning.
Their “financial strategyis an investing strategy, in
which they chase the return and focus on the yield of
their portfolio. As they do so, they miss the big picture.
Investing represents but one facet of long-term
financial planning. Trying to build wealth is one thing;
trying to protect it is another. An effort must be made
to manage risk.
Insurance & Investments
A good financial strategy is not just about “making money;” it is also about protection.
Insurance can play a central role in wealth protection. That role is underappreciated
partly because some of the greatest risks to wealth go unnoticed in daily life. Five days a
week, investors notice what happens on Wall Street; the market is constantly “top of
mind.What about those “back of mind” things investors may not readily acknowledge?
What if an individual suddenly cannot work? Without disability insurance, a seriously
injured or ill person out of the workforce may have to dip into savings to replace income
i.e., reduce his or her net worth. As the Council for Disability Awareness notes, the
average length of a long-term disability claim is nearly three years. Workers’
compensation insurance will only pay out if a disability directly relates to an incident that
occurs at work, and most long-term disabilities are not workplace related. Disability
insurance can commonly replace 40-70% of an individual’s income. Minus disability
coverage, imagine the financial impact of going, for instance, three years without work
and what that could do to a person’s net worth and retirement savings.
1
What if an individual suddenly dies? If a household relies
on that person’s income, how does it cope financially with
that income abruptly disappearing? Does it spend down its
savings or its invested assets? In such a crisis, life insurance
can offer relief. The payout from a policy with a six-figure
benefit can provide the equivalent of years of income.
Optionally, that payout can be invested. Life insurance
proceeds are usually exempt from income tax; although
any interest received is taxable.
2
2333 Camino Del Rio South, Suite 240. San Diego CA 92108
(P) 619.640.2622 · (F) 619.640.2600 · www.CopiaWM.com
Most people want a say in what happens to their wealth
after they die. Again, insurance can play a role. At a basic
level, those with larger estates may use life insurance to
address potentially large liabilities, such as business loans,
mortgage payments, and estate taxes. An ILIT may also
shield the cash value of a life insurance policy from
“predators and creditors.Beyond that, a sizable life
insurance policy can be creatively incorporated into an
irrevocable life insurance trust (ILIT), through which an
individual can plan to exclude life insurance proceeds from
Citations.
1 - nerdwallet.com/blog/insurance/disability-insurance-explained/ [6/27/16]
2 - tinyurl.com/knroq9u [3/27/17]
3 - thebalance.com/irrevocable-life-insurance-trust-ilit-estate-planning-3505379 [3/21/17]
Investment advice offered through Copia Wealth Management Advisors, Inc.
Copia Wealth Management Advisors, Inc. is a registered investment adviser.
his or her taxable estate.
3
Yes, the estate tax exemption is high right now: $5.49 million.
Even so, if a person dies in 2017 while owning a $5 million life insurance policy and a
$500,000 home, his or her estate would be taxed. An ILIT would be a useful estate-
planning tool in such a circumstance.
3
Why do people underinsure themselves as they strive to build wealth? Partly, it is
because death and disability are uncomfortable conversation topics. Many people neglect
estate planning due to this same discomfort and because they lack knowledge of just how
insurance can be used to promote wealth preservation.
The bottom line? Insurance is a vital, necessary aspect of a long-term financial plan.
Insurance may not be as exciting to the average person as investments, but it can certainly
help a household maintain some financial equilibrium in a crisis, and it also can become a
crucial part of estate planning.
2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 | FAX: (619) 640-2600 | CA LIC# 0C72164, 0G81294
Elisabeth@CopiaWM.com | www.CopiaWM.com
Pg. 35
2333 CAMINO DEL RIO SOUTH, SUITE 240, SAN DIEGO, CA 92108
PHONE: (619) 640-2622 FAX: (619) 640-2600
CA LIC# 0C72164, 0G81294
Investment advice offered through Copia Wealth Management Advisors, Inc. Copia Wealth Management Advisors, Inc. is a registered investment adviser.
The information provided in this document is for informational and educational purposes only. This
document is not investment advice nor is it intended to address the financial needs of any particular
viewer. The opinions expressed of this document are not intended to be an endorsement of any
particular investment strategy or service. You must make an independent decision regarding
investments or strategies mentioned throughout the document. Before acting on information in this
document, you should consider whether it is suitable for your particular circumstances and strongly
consider seeking advice from a financial or investment adviser.