Partner with a professional to make the best financial decisions in the new year

By Sue Baldani

Our country’s economic climate is constantly changing. Some years are relatively stable and financially sound while others are fraught with upheaval and uncertainty. Many people find these fluctuations challenging and stressful when it comes to financial planning. It’s important to keep in mind that help is out there.  

Wealth advisors and certified financial planners are professionals who can help make planning for the new year and into the future both seamless and effective by taking into account their clients’ particular lifestyles, ages, and goals.

Laura Marie Raulinaitis, CFP®, a certified financial planner who, along with her husband Darius Raulinaitis, CFA, founded The Lake Avenue Group at Morgan Stanley in Westlake Village, are experienced professionals. “Your financial advisor is here to be your guide when you’re nervous or scared,” she says. “You call your financial advisor when you need advice, when you need handholding, and when you need guidance – we are akin to financial doctors. We aim to help keep your finances healthy and keep you from making bad decisions. When it comes to making healthy decisions in your portfolio, it’s hard to do without an experienced professional.”

Jennifer Strong, CFP^® a wealth advisor with MB&T Advisors in Westlake Village, is another such expert, and she agrees that having a financial partner is a necessity. She explains that when people try to develop financial plans on their own, they may not know what things are critical to take into account. Here are some common items she often sees missed:

1. Failing to consider life insurance or long-term care insurance when a person is young.  Premiums are much more affordable the sooner once implements life insurance.
2. Failing to include emergency funds for unexpected expenses.
3. Not factoring in inflation and taxes in making projections for the future.
4. Making unrealistic investment return assumptions.

When Jennifer first meets with a client, she usually begins by simply getting to know them, which is one of her favorite parts of the job. “I ask them to tell me about their work, family, lifestyle, current financial situation and habits,” she says. “What makes them happy?  How do they see themselves in retirement years – travelling? charity? hobbies? Where will they live? I ask how they feel about their current financial situation and how they envision their future. Have they set specific goals?” 

Once Jennifer has this information, she can work with clients to establish an appropriate, customized financial plan to target these goals. “This plan could include long- and short-term investment recommendations, estate planning recommendations, tax considerations, life insurance, long-term care insurance, and education savings strategies,” she says. “For business owners, this could include cash management, retirement plan implementation for employees, business succession planning and key man insurance.”

MB&T Advisors offers complimentary consultations with wealth advisors like Jennifer, mortgage loan officers, commercial loan officers, personal bankers and business bankers.

“I like the phrase ‘Jack of all trades, master of none,’” she says. “I truly value the relationship I have with my CPA, my realtor, my attorney and my hair stylist. Each of those people in my life have many years of experience and knowledge I could not possibly have and still be an expert in my own field, not to mention managing my family and personal life.

“When was the last time you cut your own hair, and how did that turn out? Each of those people are part of my team of trusted advisors and I am happy to compensate them for the value they add to my life, not to mention the time saved and mistakes avoided!”

As financial professionals, she and Laura have some great suggestions for 2024 that will help not only to maintain assets, but to help grow them. “Every year we should look at our financial plan or financial situation and work to make it stronger,” says Laura. “Take a good hard look at how much things cost today, including gas and groceries,” she says. “Most things are now more expensive than they were before.”

When it comes to groceries, many people, she says, don’t realize that while they may be paying the same price for something in the supermarket, the size of the packaging has become smaller. “Little things like that really start adding up and I think being aware of that is important.”

Something else that has changed dramatically and will still most likely be true throughout 2024 is the increased interest rate, which means CDs (Certificates of Deposit) and money markets are offering much better returns now than in the recent past.

However, this increase in interest rates can affect other financial aspects in a negative fashion. “It’s tough because the last several years we’ve had low inflation and very low interest rates and people aren’t realizing that now they can’t buy as much with the same amount of money,” she says. “For example, if they thought they could buy a million dollar house in the past, now they are realizing they can only buy an $800,000 house. Because of these higher rates, the cost of that house to the borrower is the same as a million dollar house was when interest rates were lower.”

Adds Laura, “I think 2024 is the year of rebuilding of the economy, so people are pretty legitimately back to being social and traveling. We’re seeing experiences as more important to people in society today versus items, so they should expect to plan for their next experience because those are the things that seem to matter more now. When their kids are going off to college, they’re going to be visiting them on parents’ weekend. Plus, the average college student is spending more money on experiences too. They’re not so worried about their wardrobes and things like that, so it’s changing the way that we spend money and the way that we think about material items.”

For those with debt, she encourages them to pay it off as quickly as possible, especially those with adjustable interest rates. “Pay down those credit cards with the highest interest rates first,” says Laura. “With these rates going up, a lot of people who may have been paying less for that credit card are now paying a lot more and it’s costing them a lot more to keep that debt.

“We are at the highest credit card balances of all time. We just rolled a trillion dollars in credit card debt  – that’s a really big deal.” The ever increasing cost of health insurance and college costs are also major influences on determining a workable financial plan.  

When it comes to savings, she’s worried that younger people are only going to see the fluctuations in the stock market versus that 5% interest rate and have reluctance to enter the stock market, which she’s seen after recessions in the past. “I would like to encourage all people to think longer term.”

Laura says it’s also necessary to realize that inflation can eat away your ability to pay for your child’s college education, to buy a house or car, manage the cost of the goods in your home and purchase other items.  “That means we need to invest in things that can make up an interest rate higher than inflation because inflation is our biggest risk.”

Adds Jennifer, “We experienced some anomalous conditions in 2023 to include high inflation and a fast and steady increase in interest rates. Recession was a looming concern. As a result, borrowing and spending slowed. The silver lining was that US Treasury short term rates skyrocketed to levels that became very attractive for those with extra cash on hand.

“Having said that, one can see that from year to year financial conditions change which could affect the trajectory of your financial plan. It is helpful to check in with your financial planner/advisor to ensure you are on track.”

In addition, she says, life events such as marriage, babies, divorce, job/employer change, geographic relocation, inheritance, loss of a loved one, sale of a business, and other changes may alter your original financial plan.. “For 2024, it would be helpful to be aware of changing interest rates as this may influence a real estate decision, obtaining a loan and effect returns on short-term and long-term treasuries and bonds.”

Another big change is AI, or artificial intelligence, which is also making its way into the financial sector. “AI is certainly changing the way that we will operate in this world,” says Laura. “It has been said that a robot can do my job by having you fill out a questionnaire and then giving out financial advice. That part may actually be true.

“However, the part that’s not true is that robots can’t exercise compassion and try and talk you through that big down day, or week, month, or year and keep you invested. They will only talk to you at a logical level. Of course, Morgan Stanley is definitely investing in AI and trying to help stay ahead of the curve in many ways.”

Laura also encourages everyone to be informed on topics and to get news from more than one source and then check those sources. There is a lot of misinformation out there that may lead to making the wrong financial decisions.

There are many brokers and institutions that people can turn to for financial advice, but before choosing someone to handle one’s assets and financial planning, Laura recommends going to BrokerCheck.finra.org/. “From an investment perspective, it’s more important than ever to know who you’re working with and to do your homework and then to take a long term approach.”

Laura and her team also believe in giving back and paying it forward. “The Lake Avenue team are members of the community and we get involved,” she says. “We think that it’s important to do that because we care.” At the end of each year, to plan for the new year, they decide on which causes they wish to support.

“There are a number of nonprofits that we are involved with as a team,” she says. “We decide where we want to show our support, where we want to get involved, and where we want to go. We have packed boxes for the local food bank and built houses for Habitat for Humanity. We are very involved in our yacht club and so we’re raising money for the Lahaina Yacht Club that burned down during the Lahaina fires in Hawaii.”

MB&T Advisors is also a key financial supporter in the local non-profit community through generous grants and sponsorships with over $2.3 million donated in 2022.

When it comes to helping others, Laura often thinks of this quote by Ralph Waldo Emerson. “Happiness is a perfume you cannot pour on others without getting a few drops on yourself.”

For more information, and to get expert advice and assistance for your financial health, go to Advior.MorganStanley.com/The-Lake-Avenue-Group and Montecito.Bank/Personal/Advisors.

Written for Conejo Valley Lifestyle magazine in California.

Laura Raulinaitis is a Financial Advisor with the Wealth Management division of Morgan Stanley in Westlake Village, CA. The views expressed herein are those of the author and may not necessarily reflect the views of Morgan Stanley Smith Barney LLC, Member SIPC. http://www.sipc.org. Laura Raulinaitis may only transact business in states where she is registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Laura Raulinaitis is not registered or excluded or exempt from registration. The strategies and/or investments referenced may not be appropriate for all investors.

Bringing comfort, compassion, and joy to the soldiers fighting in the Vietnam War

By Sue Baldani

After graduating from college in 1968, Debby Moore wanted to travel and see the world before following in her parents’ footsteps and becoming a teacher. Most young women would have chosen to go to London, Paris or some other swanky destination. Not Moore.

After learning that a civilian program through the Department of the Army lowered the minimum age from 23 to 21 for young, single, female college graduates, she went for an interview for a job with Army Special Services. Shortly after, she found herself heading to Vietnam, right into a war zone.

Moore’s mission, she came to find out, was operating recreation centers, or clubs, for the enlisted soldiers where they could relax and have time away from their officers and NCOs during breaks from combat. Here, they could enjoy coffee, punch, popcorn, games, cards, ping pong, pool tables, musical instruments and more.

She and the club’s director, Louise, planned monthly events such as movie nights, bingo, pool tournaments, and unit parties. They were the only two women serving over 1000 men and lived right alongside junior medevac pilots.

“Medevac pilots or ‘Dust Off’ pilots as they’re called, like my husband, are those who bravely fly into combat to rescue the wounded and dead,” said Moore. “These guys were great and adopted us like sisters.” Moore and Louise were also sometimes the last American girls these pilots would ever see.   

One of her favorite experiences in Vietnam was hosting orphans’ parties at the centers. Families of soldiers would send toys, clothing, and treats to support these events. “The children would sing and dance for our soldiers and our guys would simply melt at the sight of their smiles, temporarily forgetting the nasty side of the war.”

In addition to running these recreation centers, she and Louise were asked to learn about the missions of different units on their basecamps. “We would often visit their work sites where we would listen and empathize with their feelings about daily encounters with fellow soldiers, their superiors, local nationals, and, most importantly, the enemy!” she said.

While the soldiers were often in danger, so were the female civilians who were there to help them. Moore stated that 7,484 American women served in Vietnam during the war and 68 of them lost their lives there. Eight were military nurses and the others worked for the Red Cross, Army Special Services, and other organizations.

She herself lived through the terror of rocket and mortar attacks on her base camps while serving at Soc Trang, Cu Chi, and Dong Tam. Enemy forces even got onto the roof of her service club at Cu Chi during an incursion during Tet of 1969. The soldiers would always make sure she and Louise got into the bunkers safely.

After returning to the United States for good in 1970, Moore did go on to pursue a teaching career, but what she experienced during her two tours in Vietnam from changed her perception of herself and the world.

“I learned more about myself than I ever would have had I gone directly into teaching,” she said. “I value my time with those wonderful young soldiers and the Vietnamese nationals I came into contact with. I also learned a lot about our ‘world family’ and their cultures and understand that Americans can also learn valuable lessons from these encounters. Mostly, I think about the friendships we developed, however short, and I will always remember those I knew who served and gave ‘their all.’”

In addition to wanting to support these soldiers, another reason she went to Vietnam had to do with her father. “As the eldest of four daughters, I felt very close to my father who was a B-29 commander during World War II, flying thirteen bombing missions over Japan,” said Moore. “I’m so proud of his service.”

In 2016, she was asked to speak about the women who served in Vietnam at the Vietnam Memorial in Washington, D.C. on Veterans Day. “I’ve been to the Wall many times and always touch the names of the men I knew who lost their lives there, but each time I go, I stare at the Wall and wonder how many more of the thousands of soldiers I spoke with during my two years in Country have their names etched there. I will never know, but I’m so happy that I might have been a small part of their lives during our time there.”

In 2023, on Veterans Day, the Vietnam Women’s Memorial in D.C. celebrated its 30^th anniversary. Moore and her husband, retired U.S. Army Colonel Doug Moore, were there to honor the occasion along with the founder of the memorial, former Army Nurse Diane Carlson-Evans, and best-selling author Kristin Hannah.

Although the couple, who live in Haymarket, didn’t marry until later in life, they met long ago and far away. “In early January of 1969, a young major named Doug Moore flew me from Soc Trang to Cu Chi when I was transferred there,” she said. “I flew with him and his pilots for the next six months until I went home from my first tour. After that, I didn’t see him again for 45 years until we met at the Vietnam Women’s Memorial on Veterans Day in 2013. We were married two years later.”

Colonel Moore also served his country well. He was awarded the Distinguished Service Cross for heroism, only second to the Medal of Honor, along with two Distinguished Flying Crosses, a Purple Heart and many other awards. He has also written a book, A Bullet Through the Helmet, about his experience.

Although some of Debby Moore’s experiences in Vietnam were extremely difficult, she never regretted her decision to serve. “In the encounters I had with those incredible men, I learned more about the human spirit than I ever learned in all of my sociology and psych classes, and rarely a day goes by without my being reminded of their bravery, fortitude, and sacrifice. Even now, more than fifty years later, I still ache for those men and the choices they had to make.”

Written for Haymarket & Gainesville Lifestyle Magazine in Virginia.

How one mom is spreading awareness to help others

By Sue Baldani

Jodi Halem and her son Alek spoke everyday while he was away at college in Idaho, often multiple times a day, so when he didn’t respond to her texts and phone calls after speaking with him the morning of January 17, 2021, she became worried. The Thousand Oaks mom had a right to be concerned.

Later that evening, Alek’s roommates found him in his room. His heart had stopped. He was only 22 years old.

“He was honestly just the kindest, sweetest young man you’d ever meet,” says Jodi. “He was definitely an old soul. He was highly intelligent and would spend his free time researching everything.”

That morning, Alek did mention to his roommates that his chest was congested and he was going to see a doctor. In the past, he also complained about pain around his heart or that it felt like it was racing. Everyone thought it was just anxiety or stress. He was a young and apparently healthy young man.

“We came to find out it was sudden cardiac arrest,” she says. According to the Sudden Cardiac Arrest Foundation, sudden cardiac arrest (SCA) is a life-threatening emergency that occurs when the heart suddenly stops beating.

“There sometimes is a genetic predisposition, and after he passed, we did extensive DNA testing on him and on us, but we have absolutely no answer as to why it happened and probably never will,” she says.

If parents know there’s a family history of heart conditions or if their child is complaining of even the slightest symptom, Jodi encourages them to listen and do something about it. Take them to a doctor, and if the doctor doesn’t take it seriously, find another doctor. It doesn’t necessarily have to be a child. It could be an adult. Be your and your child’s advocate. And, get them tested for hereditary cardiac conditions.

“I think there’s a misconception and misunderstanding of the differences between cardiac arrest and a heart attack.  It’s important to know the differences.”

Her other advice is to learn CPR. While it wouldn’t have helped Alek since he was alone when his heart stopped, it can help many others. Jodi and her family recently hosted a free CPR event in October at the Yarrow Family YMCA in Westlake Village to honor her son and highlight Sudden Cardiac Arrest Awareness Month.

“They were nice enough to donate the space and we had a really great turnout and a lot of positive feedback. It was basically what they call sidewalk CPR or hands-only CPR. As long as you know the basics, you can actually save somebody’s life.”

People are often hesitant to start CPR for fear of doing it wrong or hurting the person, but if the person’s heart is no longer beating, it’s their only hope until medical help arrives. And don’t delay – get started right away. The sooner CPR is initiated, the higher the chances of survival.

“It’s better to do it than not,” says Jodi. “In the class, hosted by Safety Unlimited, they advised us not to worry about feeling for a pulse. If a person becomes nonresponsive, start CPR.” And call 911 right away.

The Sudden Cardiac Arrest Foundation states that SCA is the third leading cause of death in the U.S. Approximately 356,000 people of all ages experience EMS-assessed out-of-hospital non-traumatic SCA each year and nine out of 10 victims die. When bystanders intervene immediately by giving CPR, survival rates double or triple.

If there’s an AED (automatic external defibrillator) available, even better. They are easy for the average person to use and increase the chances of survival astronomically. This is why it’s important to have AEDs in schools, shopping centers, offices, and other places people gather.

Jodi currently has a Facebook page (Sudden Cardiac Arrest Loss) to spread the word about sudden cardiac arrest, and is also hoping to one day start a nonprofit organization to address it. “I’ve always wanted to do something to bring awareness, but it took a certain amount of time until I felt I could actually speak about it without completely breaking down,” she says.

While Alek’s death was a devastating blow to her family, she and her husband Elliott, 28-year-old son Josh, and 26-year-old daughter Tabitha are doing their best to move forward.

For more information, go to SCA-Aware.org and to find a CPR class near you, contact the Red Cross.

Written for Conejo Valley Lifestyle magazine in California.

By Sue Baldani

The Scotch Plains Rescue Squad Auxiliary is gearing up to host another amazing Pancake Breakfast on Sunday, February 25, 2024. To help make this annual get-together even more fun and exciting, donations are being collected for gift baskets that will be auctioned off during the event.

Only new items will be accepted, and no shoes, clothing or stuffed animals are needed. Please consider donating items for inclusion in the following themed basket prizes:

Baking – Wellness – Gardening – Sports – Pets – Health – Children – Scrapbooking – Coffee/Tea – Comic Books – Arts and Crafts – Italian Dinner – Games – Vacation – Holiday Items and Crazy Socks. Baskets and ribbon would also be very much appreciated.

We also encourage donors to put together their own gift baskets using the various themes above. This would be a great project for a family, a scout troop or other groups that would like to contribute to this worthy fundraiser.

The Auxiliary will be collecting donations on the following dates at the Rescue Squad building at 1916 Bartle Avenue:

Friday, January 5th                           Saturday, January 6th                        Tuesday, January 9th

Friday, January 12th                         Saturday, January 13th                       Tuesday, January 16th

Friday, January 19th                          Saturday, January 20th                      Tuesday, January 23rd

Friday, January 26th                          Saturday, January 27th                       Tuesday, January 30th

Friday, February 2nd                         Saturday, February 3rd                      Tuesday, February 6th 

Friday, February 9^th

The donation times on Tuesdays and Fridays are 7:00 pm until 9:00 pm. For Saturdays, the times are from 10:00 am until 1:00 pm.

Thank you for your support!

The Scotch Plains Rescue Squad Auxiliary meets once a month, and its grass roots function is to assist the Squad in many capacities – from holding fundraisers and providing meals during crises to performing outreach to squad and fellow auxiliary members. Members also attend town functions, such as fairs, concerts and holiday events, in order to connect with the community and promote Squad interests.

If you’re interested in becoming a member of the Auxiliary, come by the Squad building one evening to pick up an application, or go to ScotchPlainsRescueSquad.com/The-Auxiliary.

How one lawyer won the fight of her life

By Sue Baldani

As a family law attorney for 17 years and a partner with Fox Rothschild LLP in the Morristown office, Sandra Fava is used to fighting for others. More recently, she faced a much more personal battle.

“I was diagnosed with very aggressive breast cancer in September of 2020, and because of COVID, I couldn’t bring anyone with me to treatments and we weren’t allowing visitors at home,” she says. Fortunately, she didn’t have to go through her struggle alone.

“I’ve been married to Christopher for 13 years and we have three children. They would put on little shows for me and make me cards and pictures. There was a lot of special time with them, which I’ll forever cherish.”

Her mother also moved in to help. “My mom’s a phenomenal cook,” says Sandra. “I joke that I’m a cancer patient who actually gained weight.”

Another family member who gave her a lot of love has four legs. “We have a 16-year-old dog named Penny who was a rescue from a puppy mill. She’s my old lady and now I take care of her.”

Sandra also has a top notch medical team. “I received all of my treatment except for radiation at  Morristown Medical Center, Carol G. Simon breast cancer center. My breast surgeon, Dr. Leah Gendler, was just phenomenal and so was my oncologist, Dr. Ellen Early. Their care was above and beyond what I had ever expected.”

While going through treatment, she continued to be there for her clients, even though it was difficult. “I had the support of my team and did try to take medical leave, but it’s hard in my practice because people don’t usually hire a family law and divorce attorney based on the firm they’re with, but instead hire the person they feel a connection to,” says Sandra.

Until last October, she kept her medical situation private. “In my support group through the hospital, one woman, a retired executive, challenged me and asked, ‘Don’t you think with your career you have the opportunity to be a proponent of awareness and letting people know that it’s not just older women, or not just women, who get breast cancer?’ That really resonated with me.”

Since then, Sandra has done some speaking engagements and an annual breast cancer walk with her family. And since her diagnosis, she’s hosted an annual Pink Party fundraiser at her home. “All the money we raise goes to Play for P.I.N.K., which focuses its efforts on research, not only for a cure, but for treatments for people who are survivors.”

Sandra admits that she worries about the future and wants to be there for her family. “Even though you may ‘beat cancer,’ you’ll wonder for the rest of your life if it’s going to come back or come back in a different way. People look at me and say I look great, but the treatment you receive can have long-term lasting unseen effects. I have severe neuropathy and some arthritis now. I have issues from radiation with my range of movement on my right side. Those are things that I have to work on daily in order to feel well.”

It’s important to stay positive, she says. “I had moments when I thought I couldn’t do another day, but somehow I did. It’s hard to see yourself so differently. You think, I’m only 40 years old, but I feel like I’m 80. Keeping positive is something that helped me get through it all.”

Sandra always tries to find things to smile about, and being involved as a trustee of Court Appointed Special Advocates (CASA) is one. A nonprofit organization, CASA provide services for foster children and foster families to make sure they have whatever they need. This may be computers for school, backpacks with school supplies, funding for camp, or paying for extracurricular activities they’re interested in pursuing like sports or music. “It’s touched the lives of so many children,” she says. “The stories are beyond incredible about children who credit their life successes to CASA.”

Sandra is thankful for her family, friends, colleagues and team of doctors for helping her get through her cancer journey and for keeping her strong as a survivor. This allows her, in turn, to continue to help others.

To find out more about Sandra Fava and how she can help you and your family with your legal issues, go to FoxRothschild.com/SandraCFava; @AskSandraFava on Instagram; and @DivorceNJLaw on X.

Breast cancer resources:

Susan G. Komen Foundation

Komen.org

American Cancer Society

Cancer.org

Play for P.I.N.K. (Prevention, Immediate diagnosis, New technology, Knowledge)

PlayforPink.org

Written for Chatham & Short Hills Lifestyle magazine in New Jersey.