Author Archives: Curtis

Year of Generosity in Review

2019 has been Bare Wealth Advisors’ Year of Generosity. We find it helpful to create a theme each year to help us be more intentional in a certain area of our financial lives. Without intentionality in our lives we are prone to coast along with life reacting to life events and circumstances. This is true in our financial lives as much as in any area of life. As we wrap up another year, I thought it would be good to make one last effort to emphasize the importance of generosity in our lives and in the lives of others around the world.

In 2 Corinthians 8:7, the Apostle Paul tells us to excel in our acts of giving – similar to how we would want to excel in other areas of life such as our knowledge, speech, faith etc. If you are alive more than 12 years, you probably know that to excel or get better in something you need to work at it and plan for it to actually improve. Think of a professional athlete such as Michael Jordan-the best basketball player ever to play the game (sorry, Lebron James fans). Although he was naturally gifted as an athlete and basketball player, he was also the one that put in the most hours a day practicing and mastering his game. The same is true for financial management as well as our generosity. We may be naturally generous, having a desire to help other people.  However, with unlimited options on how we spend our time and money, we are often pulled away from using our resources for others in efforts to “better” our own lives resulting in more things or time commitments.

The only way to improve or excel in our effort to live a generous life is to plan, set goals, and take steps towards generosity. Begin by asking yourself: “What does generosity look like for me considering what I have been given?” The Bible tells us that to whom much is given, much is expected.  This means we have a great responsibility with what we manage. Many in America have been given much and,  we are the most generous nation in the world by many statistics. However, a deeper look into this says we have room for improvement. The average American gives about 2% of their income.  While this is slightly better at 2.6% for someone who regularly attends a weekly worship service, it still falls short in many ways considering the wealth we have in our possession. During the Great Depression, average giving percentage was 3.5% of income, despite extremely difficult times. There are many studies that show as our income increases, we give a lower percent of our income to help other people. Why?

Perhaps because we do not think about being intentional or how we can improve in this area like we do areas such as fitness, our jobs, parenting, etc. Why not set giving or generosity goals each year that push us forward from the prior year? Think about giving a bit more to help others or possibly one percent more of your income than the prior year. Think about how we can use our time to help those in need around us such as volunteering an hour more per week so we can physically help someone in a tough situation. A good exercise is near the end of the year pull out your calendar and your checkbook (or online account) and reflect on how you spent your time and money in 2019, does it align with what you most value in life? If not, set some goals in both areas to be more generous and others focused in 2020.

I read recently that if the average church attender gave 10% of their income (a tithe or tenth is often taught in the Scriptures) there would be additional resources to solve problems such as:  world hunger,  deaths from preventable diseases, the world’s clean water and sanitation concerns, all world mission efforts would be funded, and all illiteracy concerns would be solved.  Not only would these problems be solved but there would also be $100 billion left over to fund local needs in our communities. With this in mind, I could argue that if we all pushed forward with more generosity, we could drastically improve the lives of people around the world! In addition, when we take part in generous acts there is a supernatural joy and fulfillment that comes that cannot be matched by any earthly possessions.

To wrap up Bare Wealth Advisors. Year of Generosity, let me encourage and invite you to take part of generous acts of service in 2020 and beyond. Together we can move the needle of generosity from where we are today to where we can leave a legacy well beyond what we can imagine if we are intentional in this area of our lives. After 23 years of working with families such as yours in the area of financial management and decision making, I can honestly say I have NEVER met an unhappy generous person.

Medicare Insurance

by Jim Wahlberg

It’s that time again…mailboxes will be filling up, advertisements will be falling out of the newspaper, and every other commercial will announce it.  What is it?!? It’s Medicare enrollment season!  Ready or not, October 15th begins a new Annual Enrollment Period (AEP).  I get a lot of questions this time of year so I thought I would try to answer some of the most often asked questions in this post.

What is the Annual Enrollment Period?  The AEP is a timeframe that allows Medicare beneficiaries an opportunity to either enroll, disenroll, or change Medicare Advantage or Medicare Prescription drug plans.  This time period does not apply to Medicare Supplement plans.

What are the dates of the Annual Enrollment Period?  All changes need to occur between October 15th – December 7th.  We can begin meeting with people starting October 1st to discuss the benefits for the upcoming year.  However, we cannot accept any applications until October 15th and we cannot submit any applications after December 7th.  There are almost no exceptions to this rule.

Do I have to call or sign anything to keep my current coverage?  Generally, NO.  If your current plan is continuing into 2019, you’re satisfied with the way it worked, and you understand the upcoming changes in coverage, then you do not need to do anything.  A general rule of thumb is not sending your phone number to a mailer you have received unless you would like to receive calls from the source of that mailer.  If you do have question about Medicare coverage, feel free to call our office and we’ll be happy to answer any questions you have.

Is there any cost to meet with your office to sign up or make changes?  No!  You don’t pay anything to meet with us and you will not pay any more buying a product through our office compared to buying it directly from the company.  We are independent brokers representing most of the major insurance companies in our area.  We’re happy to discuss your current plan and make recommendations for change only when it benefits you.

Don’t let the Annual Enrollments Season overwhelm you.  Please give us a call if you would like a personal review of your coverage for 2019.