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The Most Valuable Asset is Yourself

Carl RichardsYears ago, my colleagues and I conducted a fairly large-scale research project. We interviewed a bunch of high-income professionals who provided professional services. This group included doctors, dentists and lawyers, and like most of us, they earned money only when they were working. In essence, they traded their time for dollars.

Our finding was this: Homes and retirements accounts aside, the most valuable asset they owned was the person staring back at them in the mirror each morning. Chances are, the most valuable investment you own is the investment called you.

A more technical way to think about it is that the most valuable asset you own is the present value of your future earnings. But here’s the problem: Despite what your spouse may tell you, the investment called you is getting less valuable with every year that passes.

It’s nothing personal. I’m sure you’re great. But this is simple math. Every year that goes by means you have one fewer year to earn money. If I were to sketch this for you, it would look like this.

Traditional financial planning spends almost no time on this issue. Instead, the traditional financial services industry focuses on getting you to take as much money as you can and put it into other investments, like mutual funds, stocks and hedge funds. That’s all fine and, to be clear, a very important part of your overall plan. But far more needs to be said about the investment called you.

One person doing some fascinating work on this topic is Joshua Sheats at his site, Radical Personal Finance. If you’re interested in this subject (hint: you should be), you might want to check out his more technical treatment.

But for this column, I want to focus three ways you can think about this.

The Beginning

Make your starting salary as high as possible. Remember that friend from high school who had a great summer job? At the time, he made what seemed like a lot of money. Everyone was jealous. Then when you headed to college in the fall, your friend’s summer job turned into a full-time job. Why would he quit making money to go to college? But you put in the time and graduated a few years later.

Now your friend is a supervisor, but you’re a doctor. By investing in education and training, you increased your starting point and initial value. Obviously, not all us of really want to become doctors, but you get the idea. In the beginning, don’t let short-term rewards get in the way of increasing your long-term value.

The Middle

Make more money each year. Yes, I know this advice is obvious. But rather than being satisfied with just the annual cost-of-living adjustment, look for ways to increase your value where you work. Pick up new skills. Take extra classes and projects that no one wants. Don’t settle for doing just enough. To borrow a phrase from the author Cal Newport, make yourself so valuable they can’t ignore you.

Outside of your 9-to-5 job, find a side gig if you can make time. What could you do to earn an extra $1,000 each month? What happens if you start earning enough to cover your mortgage? What happens if you build a business that earns more than your regular job? This phase reminds me of Aesop’s fable about the ant and the grasshopper. Do a little more today and avoid being the grasshopper.

The End

Make your working window longer. Look, I know most of us really like the idea of retiring, but it’s a myth. Most people don’t simply work their guts out until 60, then suddenly pull that plug and put on the golf shoes. People are living longer, and you might be facing a very boring 20 or 25 years without work.

You can only golf so much.

Instead, most people find they still want to be doing something. Contributing value to the world. Working. So plan on it (and invest in your health too, so you’ll still be physically capable of working).

But think of this side hustle as an opportunity to do something you love to do. Maybe it looks a bit more like this: You work at your day job until 55 and then slow down a bit. You do more of the work you love. Maybe you’ve always wanted to be a teacher, or perhaps you’d really love to become a guide at your local botanical garden. Whatever the work, it lengthens your overall line.

You may love the job you’re doing now, but your employer might have a set retirement age. Could your value be so great that they might consider working with you as a consultant for a few more years? Adding a little time at the end will give your line another upward bump.

These are just a few of the ways we can invest in ourselves. And by now, you’ve probably thought of a dozen things you can do that are unique to your own life. If you’re willing to share, I’d love to hear your ideas. You can find me on Twitter @behaviorgap or send me an email, carl@behaviorgap.com. Just don’t ever forget that more we invest in ourselves today, the more valuable we become over time and the less we need to worry about that line on the chart.

This commentary originally appeared December 14 on NYTimes.com

By clicking on any of the links above, you acknowledge that they are solely for your convenience, and do not necessarily imply any affiliations, sponsorships, endorsements or representations whatsoever by us regarding third-party Web sites. We are not responsible for the content, availability or privacy policies of these sites, and shall not be responsible or liable for any information, opinions, advice, products or services available on or through them.

The opinions expressed by featured authors are their own and may not accurately reflect those of the BAM ALLIANCE. This article is for general information only and is not intended to serve as specific financial, accounting or tax advice.

© 2015, The BAM ALLIANCE

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The 10 Most Important Things to Help Ensure Your Family’s Wealth and Well-Being

By Ross F. Hoffman

10-ThingsSeveral lifetimes ago, when I was a newly minted wealth advisor, I would often begin planning conversations by listing all the many ways that comprehensive money management could help families find personal excellence in their busy lives. Fortunately for all concerned, I soon realized that, in my enthusiasm to impart everything there was to know, I was sharing too much information in too short a time for it to have lasting value. As I gained experience, I learned to replace this information overload with a commitment to listening more, speaking less and reserving what I did have to say for the most important subjects. In that spirit, here are my 10 most important planning steps to help ensure you make meaningful financial choices for yourself and your family.

Important Thing #1: Make sure your will, living trusts, durable powers of attorney and durable powers regarding health care (also known as health-care directives) are in place AND recently reviewed.

A few years ago, a husband and wife met with me to sign some investment documents. I came to find out that the wife had lost much of her vision, and could not see where she was supposed to sign. The need for her husband to sign the document on her behalf became very apparent. I asked if they had durable powers of attorney for one another, and they affirmed that they did.

So far so good. Until we called their attorney’s office to secure the paperwork. The attorney’s assistant looked up the document and told us it had expired, and the couple would have to come in to update it. In short, the husband could not act on behalf of his wife without this document being current. Luckily, we were able to easily correct the situation, but in other circumstances, this detail could have caused serious problems. A little regular maintenance to your legal documents can make a big difference.

Important Thing #2: Develop a written master plan for your business and personal wealth designed to maximize value during your lifetime, prepare for your desired legacy and minimize income and estate taxes.

Imagine what would happen if you owned a business and you suddenly died or became totally disabled. Well, this actually happened to one family I knew. They owned a business and rented out most of their farmland. “Mom” and “Dad” had numerous pieces of property and nine adult children when Dad died in the late 90s, leaving Mom to run the ranch and make decisions that the two of them should have reached together when he was alive.

Not all nine children wanted to work the ranch, nor could it have supported nine families. You can see the dilemma. How do you divide the land so some family members could continue farming and the others could sell their share and get on with their lives?

To further complicate matters, Mom died suddenly last year, at age 84, of a major heart attack. She had standard estate planning documents in place, such as a living trust, pour-over will, durable powers of attorney and health-care directives. Unfortunately, they did not address other problems, specifically the payment of a $5 million dollar estate tax, valuation of the property and the division of the ranch. One of Mom’s goals had been to create harmony among her children. Instead, having never completed a written master plan, the surviving family was left doing the best it could under far less-than-ideal conditions, all while mourning the loss of both parents. It is well worth taking the time, particularly when complex inheritance issues exist, to prepare for the future with a comprehensive, integrated written plan.

Important Thing #3: An Investment Policy Statement (IPS) should be your guiding document. It should also help keep you and your investment advisor on the same page and mutually accountable.

I believe a comprehensive written plan that both connects you to your fiduciary wealth advisor and guides your strategy helps ensure positive investment decisions. An IPS helps you focus on what you can control, such as how you plan to: (1) Capture expected market returns according to your goals and risk tolerance, (2) Stay on course with your personalized financial plan, and (3) Minimize fees and taxes. When appropriate, it can also help build a roadmap for managing your income and spending with traded CD and bond laddering strategies.

Important Thing #4: Don’t try to play the market by picking individual stocks. Instead, use the science of evidence-based investing to participate in the market.

Nearly everyone I have ever met has wanted to make smart decisions with their money. For many investors, a “smart decision” means finding a way to dodge the stock market dogs and presciently pick the darlings. Unfortunately, it is impossible for you, your broker, some stock market “guru” or anyone else to consistently forecast or predict future returns, then overcome the trading costs involved when it’s tried.

Truly smart decisions come from becoming an informed investor and heeding the evidence on how to build personal wealth tax-efficiently in volatile markets. Focus on your asset allocation, your progress toward your long-term goals, the costs you’ve incurred and where gaps or overlaps may exist in your exposure to expected market returns. Build, and stick with, an efficient, low-cost portfolio customized for your personal willingness, ability and need to balance market risks and rewards. Leave the stock picking to those who want to gamble rather than prudently invest their wealth.

Important Thing #5: Review all your insurance coverage to make sure it is providing the appropriate benefits and protection.

Insurance is intended to be there when you need it the most, which is why I am surprised by how often I find families whose coverage is a patchwork of policies accumulated over the years. That can easily result in excessive, excessively priced or missing coverage. When it’s effectively implemented, in harmony with a family’s total and distinct exposure to liability, insurance can be a powerful estate-planning tool. It can address liabilities such as survivorship coverage, debt pay-off, disability income, long-term care, buy/sell agreement funding, key man protection, salary continuation, errors and omissions, business succession, automobiles, home ownership and estate taxes. A big-picture review from an objective wealth manager can bring your insurance needs into tighter focus.

Important Thing #6: Talk with your family about your wealth.

How long has it been (if ever) since you and your spouse or partner, and potentially your adult children, have had “that conversation”? You know the one I mean. What assets do you, as a family, own? Where are they? What would be the best thing to do with them should the unexpected occur? I frequently hear parents say they are leaving all of their assets to their children, while the children admit they have no idea how to handle them. Lacking any context or clarity, heirs sometimes just want to liquidate assets to cash as fast as they can. Too often, they are then at the mercy of some stockbroker, insurance agent or large bank (most likely its private wealth management department) and the hefty fees they extract for the disservice of disassembling a legacy that took a lifetime to build. Don’t let years of hard work be lost because of a few key conversations that never took place when the opportunity was at hand.

Important Thing #7: Your retirement planning should go hand-in-hand with your investment planning.

It is critical to establish your goals for retirement, because your investment plan will come out of those objectives. Most people randomly buy investments (such as a stock, a limited partnership, gold, commodities, hedge funds or a rental property) because it looked or sounded like a good idea at the time. I call this the “grocery-cart investment plan.” Have you ever gone to the grocery store without a menu in mind or a list of important ingredients you would need to serve a meal? You tend to walk down the aisles, picking things off the shelf that look or sound good in the moment. There’s no rhyme or reason; it’s all based on emotion and instinct. It does not have to be that way. In fact, emotions and instincts are your enemy when it comes to investing.

Important Thing #8: Do not buy annuities unless they fit, exactly, into what you are trying to accomplish and there is no other choice (such as other guaranteed fixed income or guaranteed interest rate).

What have I got against annuities? Mostly, it relates to their tax inefficiencies and other costs I consider excessive. On the tax front, they don’t get a step-up in basis on death. Rather, they convert otherwise lower-taxed capital gains into higher-taxed ordinary income and they produce (taxable) income in respect of a decedent. They also can have high costs and significant back-end fees that can trap you into the product for years. Yes, you can get up to 10 percent per year without a deferred sales charge from the insurance company, but if you are under age 591⁄2, you could be hit with a 10 percent penalty tax imposed by the federal government plus inclusion of any

growth as taxable ordinary income. In addition, you are required to take out the (taxable) growth first. Need I go on? Before signing on for an annuity, recruit a fiduciary advisor who has no skin in the game. That advisor can offer you an objective assessment of the product.

Important Thing #9: Never surrender or lapse a life insurance policy if you are over 65 without first checking the secondary life settlement market to see if the policy could be sold for greater value.

Here’s a handy tip that’s often overlooked: There is a special market where you can sometimes sell your life insurance for cash, assuming that it’s a policy you no longer need, you are over 70 and your health has changed since the policy was originally issued. Please note there are also some special tax rules, so it is important to work with someone who can give you all the information you require to make sure this strategy is in your best interest.

Important Thing #10: If you are a business owner and you offer any type of a retirement plan, consider delegating your investment selection liability to a professional advisor (in writing).

As a retirement plan sponsor, you are a trustee and fiduciary under the plan. You can be held personally liable for a breach of fiduciary responsibility. While you cannot delegate away all of your fiduciary obligations, the laws governing retirement plans do allow you, as the plan sponsor, to delegate investment selection liability to a professional advisor who is willing to accept the duty in writing. If you are paying someone to manage your plan for you, it only seems reasonable to ensure that the firm with whom you are working is taking on that obligation as part of the services it is providing.

Consider following-up on each of these 10 important planning recommendations, because if you knock off this handful — perhaps with the help of a fiduciary advisor — you’ll have already made an excellent start to safeguarding your family’s wealth and financial well-being.

About Ross Hoffman, President, Hoffman & Associates Financial and Estate Advisors, Inc., Ventura, CA

Ross F. Hoffman is President and Chief Executive Officer of Hoffman & Associates, Financial & Estate Advisors, Inc.. Ross helps business owners maximize the value of their businesses upon their exit into retirement or other ventures. Ross helps business owners to sell their company when they want, to whom they want, and for the amount they need to secure their income for the rest of their lives. With over 30 years of professional experience in financial and estate advising, Ross has earned the financial industry’s most respected professional designations, including the Accredited Wealth Management Advisor (AWMA®), Accredited Investment Fiduciary (AIF®), Chartered Financial Consultant (ChFC), Certified Financial Planner (CFP) and Chartered Life Underwriter (CLU) designations. Ross’ outside interests include enjoying time with his eight grandchildren, golf and traveling with his wife, Carolyn.

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The Advantages of a Well-Conceived Buy-Sell Agreement

If owners agree in advance of any transfer event about how to appraise business value, and about the terms of payment, they can avoid the heated and often damaging negotiations that can occur when one owner leaves the company.

We begin making our case by outlining several other advantages of a (well-drafted and recently-reviewed) buy-sell agreement.

Controls Transfers

A buy-sell agreement can control all transfers of business ownership to the benefit of both the owner wishing to transfer ownership and the other owner (or owners) wanting to acquire ownership. This agreement can assure a selling owner (or his/her estate) of a purchase for fair value and upon terms and conditions that are acceptable to all parties.

Further, the agreement assures remaining owners that any transfers of ownership must be at least offered to them. This eliminates the potential for an outside party or a co-owner’s spouse or children to assume ownership of the business, thereby diminishing management, control and value.

A Valuation For All Reasons

A buy-sell agreement sets forth an agreed-upon method of valuing the business that applies to all transfers.
Your idea of your business’s value may be much lower than the IRS’s or a co-owner’s. If you rely on a “stated value” or on a formula-based value, you may run into difficulties with both the IRS and with other owners because value in privately owned business- es changes often and rapidly. If your buy-sell agreement is not revised every year, its valuation formula will favor either the buyer or the seller and provide ample opportunity for disputes. Avoid this by requiring a value determination by a certified business appraiser—even that provision needs to be carefully drafted!

Similarly, if you are buying a living co-owner’s interest, the value of his/her interest will likely be lower in your opinion than his/hers. If, however, your buy-sell agreement requires the involvement of a business appraiser, you can avoid this impasse.

It is best to agree—today—upon a method of valuing the business when no owner knows on which side of the transfer table he/she will be sitting. Not knowing whether one will be a buyer or a seller tends to ensure that all owners work to protect the interests of both buyer and seller.

If you don’t have an existing, binding process for valuing the business, ideally using a credentialed business appraiser, you can expect disagreements when one of the owners leaves the business. We strongly recommend that you take the reins and de- sign a valuation appraisal process suitable for your company.

The Fine Print

In a buy-sell agreement, you can fix the terms and conditions of any transfer of ownership, including interest rate, length of buyout period and security. In addition, it is often possible to provide for the funding for future ownership acquisition at either lifetime or death.

Finally, Saving Income Taxes

Buy-sell agreements should be drafted to anticipate the likeliest transfer of ownership event: the sale of an ownership interest from one owner to another. While it requires additional planning and document drafting, intra-owner sales can be designed to save as much as 30% of the company’s cash flow from taxation. For example, if the purchase price is $1 million, the cash flow required to pay a departing owner could be reduced by $300,000 or more. To repeat, this does take additional tax planning—but the result is well worth it!

If you have any questions about establishing a business continuity agreement for your company or its role in helping you exit your business in style, please contact us to discuss your particular situation.

The information contained in this article is general in nature and is not legal, tax or financial advice. For information regarding your particular situation, contact an attorney or a tax or financial advisor. The information in this newsletter is provided with the understanding that it does not render legal, accounting, tax or financial advice. In specific cases, clients should consult their legal, accounting, tax or financial advisor. This article is not intended to give advice or to represent our firm as being qualified to give advice in all areas of professional services. Exit Planning is a discipline that typically requires the collaboration of multiple professional advisors. To the extent that our firm does not have the expertise required on a particular matter, we will always work closely with you to help you gain access to the resources and professional advice that you need.

This is an opt-in newsletter published by Business Enterprise Institute, Inc., and presented to you by our firm.  We appreciate your interest.

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Rising Rates Don’t Doom REITs

Swedroe-headshotAs we have discussed many times, much of the “conventional wisdom” on investing is simply wrong. For our purposes, we can define conventional wisdom as those ideas that become so commonly accepted that they go unquestioned. Today we’ll look at the idea that rising interest rates would doom returns to real estate investments, specifically the returns to real estate investment trusts (REITs).

This assumption, that returns from REITs will indeed tank if interest rates rise, is one I have been hearing a lot about lately as people speculate on the future actions of the Federal Reserve and projections for short- and long-term rates. This speculation seems to have reached even higher pitch (it that’s possible) ahead of the Dec. 16 meeting in which the Fed is expected to decide to raise interest rates.

As regular readers of my books and blog posts know, my writing isn’t based on my personal opinions, or anyone else’s for that matter. Instead, it is built upon findings from academic research, data and the historical evidence. However, before we dive into the data on interest rates and REIT returns, there’s an important point we have to cover, and that’s the difference between information and value-relevant information.

Information Vs. Value-Relevant Information

If you have information you think should impact the market—unless it happens to be inside information, on which it’s illegal to trade—that information is already embedded in the market’s prices. Thus, if the market expects interest rates to climb, the impact from rising interest rates is already reflected not only in the current yield curve, but also in the prices of REITs. It’s already too late to act on such information, because while it may be important information to have, it’s not “value-relevant” information.

To see evidence of the market’s expectation regarding rising interest rates, just examine the current yield curve. It’s about as steep as the historical average, with the difference between one-month bill rates and 10-year Treasurys now at about 2.3%.

With this understanding about the difference between information and value-relevant information, we can now turn to the evidence on the relationship between interest rates and REIT returns.

The Relationship Between REIT Returns And Interest Rates

To determine whether the conventional wisdom on the relationship between REIT returns and interest rates is correct, we can check the historical correlation of the returns between the Dow Jones U.S. Select REIT Index and five-year Treasury bonds.

For the period January 1978 to October 2015, the monthly correlation of returns was actually a positive 0.076. If we look at quarterly correlations, for the period January 1978 through September 2015, the correlation was 0.089. The semiannual correlation for the period January 1978 through June 2015 was even lower, at 0.023. And the annual correlation from January 1978 through December 2014 was lower still, at just 0.019. With correlations of close to zero, there’s really no basis for the belief in the conventional wisdom that rising rates are bad for REITs.

For another example of how the conventional wisdom associating rising interest rates with poor returns from REITs can be wrong, let’s look at some additional historical data. Specifically, let’s examine returns to the Dow Jones U.S. Select REIT Index during the last period of rising interest rates. The Federal Funds (FF) rate bottomed out on June 25, 2003, at 1%. Over the next several years, the Fed kept raising the FF rate until it peaked at 5.25% on June 29, 2006. On June 25, 2003, the five-year Treasury note was yielding 2.3%. On June 29, 2006, the yield had risen 2.9 percentage points to 5.2%.

How did REITs perform during this period of sharply rising rates? From July 2003 through June 2006, the Dow Jones U.S. Select REIT Index returned 27.68% per annum, providing a total return of 108.15%. During the same period, the S&P 500 Index returned 11.22% per annum, providing a total return of 37.57%.

Consider The Source

If rising rates are supposed to be bad for REITs (and for stocks in general), why did they produce such great returns? The reason is that the impact of rising rates on REIT returns depends on the sources of those rising rates. If rising rates reflect strong economic growth, then the expected returns to REIT investments might also be good.

This could be a reflection of stronger demand, as well as the likelihood of a falling risk premium, which causes valuations—for example, price-to-earnings ratios—to rise.

On the other hand, if interest rates are rising because inflation is growing faster than expected, the markets could become concerned that, in order to combat inflation, the Fed could begin tightening monetary policy. That would likely put a damper on economic growth, and probably cause a rise in the risk premium, which causes valuations to fall.

So we see that there are some periods where rising interest rates are more likely to be good for REITs, and some periods where rising rates are more likely to have a negative impact. That explains why the correlations have been close to zero over the long term.

The takeaway here is that, once again, we see that just because something falls under the conventional wisdom doesn’t make it correct. Hopefully, the lesson learned is to not simply accept the conventional wisdom as fact, but to question it and ask for the evidence supporting it.

This commentary originally appeared December 9 on ETF.com

By clicking on any of the links above, you acknowledge that they are solely for your convenience, and do not necessarily imply any affiliations, sponsorships, endorsements or representations whatsoever by us regarding third-party Web sites. We are not responsible for the content, availability or privacy policies of these sites, and shall not be responsible or liable for any information, opinions, advice, products or services available on or through them.

The opinions expressed by featured authors are their own and may not accurately reflect those of the BAM ALLIANCE. This article is for general information only and is not intended to serve as specific financial, accounting or tax advice.

© 2015, The BAM ALLIANCE

Jason No Comments

Avoid Caregiver Burnout During the Holidays

By Sylvia Nissenboim

Both caregiving for an elderly loved one and preparing for the holidays can come with a lot of joy, but also some unintended stress. As such, it’s vital that caregivers don’t overload themselves as they balance the day-to-day demands of caring for an older family member with the additional commitments that pop up around the holiday season. So what’s the best way to take care of yourself so you don’t burn out?

First a little background. Burnout is a state of physical, emotional and mental exhaustion that may be accompanied by a change in attitude, specifically from positive and caring to negative and detached. Sometimes we don’t even notice we are getting burned out until others tell us they see the symptoms. The most common symptoms of burnout are increased fatigue, stress, anxiety and depression. Taking care of an older family member can already deplete our stores of energy, and when the holidays come around, there’s sometimes nothing left to draw upon. Things that once brought pleasure (baking with the grandkids or decorating the table, for instance) now seem like chores.

Consider these tips to help minimize unnecessary stressors around both caregiving and the holidays:

First, recognize the signs of increased stress. Has your mood changed? Are you often down, irritated and angry? Are your sleep, attention and energy levels disrupted? Remember that stress is a supply and demand problem. It’s the result of too many requests and not enough resources (such as time, energy and attention) to meet them.

Second, try shifting your focus to what you can control. We can choose our attitude, and we can choose when we say “yes” or “no.” (Every “yes” is a “no” to something else when you are already loaded with responsibilities.) We have learned from scientific studies on the brain that a positive perspective increases energy, productivity and mood, so it’s important to focus on what’s appreciated and what we are grateful for. In addition, what you agree to do, or not do, can give you a sense of control in situations you often can’t direct. You can’t control, for example, the course of a family member’s condition, but you can control the commitments you make to others and ensure you are not overtaxing yourself. The holidays may be the perfect time to say “yes” to offers of assistance. A friend asking how they can help you out should be thanked and given a job, like picking up medicine or food the next time they go to the store.

And third, try honing the five resiliency skills taught by Al Siebert:

Prioritize safety and self-care. You can’t take care of others if you don’t first ensure that you are in good shape. Go to the doctor, go for a walk or get out with friends. Each of these things can be important to help sustain your own health and well-being.

Learn breathing and relaxation techniques. Relaxation breathing is a way to calm yourself when you feel particularly stressed or overwhelmed. Inhale through your nose for a count of three, and then exhale for a count of four (as if you were blowing out a candle). Complete four or five of these deep-breathing sequences, and you will be on your way to becoming calm enough to handle the task in front of you.

Communication is key. Talk with friends, family members, a counselor or a spiritual leader. Don’t hold everything in. You have more power when you let others carry some of the emotional burden.

Connect with different groups. Different networks of friends and acquaintances, whether they’re from the neighborhood, your book club or church group, refresh and renew us. Reach out.

Concentrate on optimism. Look for the good in the world. We feel what we focus on, so why not choose to see the positive qualities in the people around us? It’s easy to become inundated with bad news, so we have to work to keep optimistic, positive and grateful for what we have. This state of mind can help re-energize you and improve your attitude immeasurably.

The bottom line is that, to care for a loved one and make it through the joyous but sometimes stressful holiday period, we have to take care of ourselves. In doing so, we are making ourselves more emotionally available to the ones we love and care about.

Now, pass the pumpkin pie, please!

Sylvia Nissenboim, LCSW, is a licensed counselor and certified coach with more than 30 years of experience helping families care for aging parents through coaching, counseling and consultation services.

By clicking on any of the links above, you acknowledge that they are solely for your convenience, and do not necessarily imply any affiliations, sponsorships, endorsements or representations whatsoever by us regarding third-party Web sites. We are not responsible for the content, availability or privacy policies of these sites, and shall not be responsible or liable for any information, opinions, advice, products or services available on or through them.