Monthly Tips

Monthly Tips

July 2020

 

TIP 1 Fireworks in NJ

In order to stay safe, our traditional fireworks viewing has been either postponed or cancelled by most towns. Some are celebrating a socially distant way, and Sussex county is actually having a drive-in fireworks show. NorthJersey.com has provided a listing of what different counties are doing here.

One way to celebrate and stay safe it to reread The Declaration of Independence. It provides inspiration, and has never stopped being applicable.

From all of us at Garden State Trust Company: Happy 4th of July!

https://gstrustco.com/resources/newsletters/

 

TIP 2 Reaction to Reality: Should I Reassess My Risks?

We all have a renewed sense of just how fragile we are, and are evaluating the steps we can take to reduce that fragility. Life insurance sales have increased over the last two months as we weigh options, and policies that can be offered in this environment may not look like they did before the pandemic.

Our latest blog Reaction to Reality: Should I Reassess My Risks? looks at some of the options to mitigate risk to create lasting financial security, and some of the free or inexpensive non-insurance steps that can be taken when considering our mortality.

https://gstrustco.com/investments/strategic-portfolio-management/

 

TIP 3 Imagining Money

We define things in terms of what is finite, yet we are able to imagine infinity and use the concept in mathematics and physics. Though conceptually we know what infinity means, as the numbers get higher, they get harder and harder to visualize. Richard Adams may have exaggerated this phenomenon in his classic novel, Watership Down, by having the rabbits counting be: One, two, three, four, many (or thousand, or a lot). Just like the rabbits, our minds just know that it’s a lot, and we stop trying to visualize it.

Can you imagine a billion dollars? How about a trillion? Here’s a website that puts that visualization in perspective.

https://gstrustco.com/investments/managing-preserving-wealth/

 

TIP 4 Special Needs Callout

We all have responsibilities throughout our lives, and challenges we face. For those that care for a Special Needs individual, they see first-hand just how different those challenges can be. They are caregivers, and should take pride in the difficulties they help themselves and others overcome.

Garden State Trust Company provides comprehensive Special Needs trust administration to protect the financial benefits for these individuals, and to ensure the quality of life continues should the caregiver meet their end. We take pride in being a leading provider of this service in New Jersey, and would be pleased to discuss what strategies might be appropriate for your family situation.

https://gstrustco.com/trusts-estates/special-needs-trusts/