Wendy and I were grocery shopping at our local Kroger. We ventured into the frozen food aisle, where I will typically pick up 2-3 individual microwaveable meals as a backup when I need something quick and easy to make.
I was reaching for a couple of my typical go-to Lean Cuisine meals when out of the corner of my eye I noticed a different brand right next to them. It was labeled “Dolly” in big letters and had a cute cartoon picture of Dolly Parton right next to the name.
I turned to Wendy and asked whether she knew that Dolly Parton had ventured into the frozen food business. She shrugged her shoulders and indicated that the cartoon picture of Dolly was cute.
Key Blind Spots Addressed
Gosh, I have always liked Dolly Parton. I remember watching the movie “9 to 5” when I was young and most recently when she sang “Rocky Top” at a Tennessee Georgia game only to be rudely overpowered by the University of Tennessee marching band.
The meal wasn’t on sale, but I felt an instinctive obligation to give it a shot anyway because I didn’t think Dolly Parton would ever try to sell me something that wasn’t good. As we went further down the aisle, we also came across a variety of Dolly Parton frozen desserts. I then hesitated for a second and wondered whether Dolly was overplaying her hand.
Nonetheless, I proceeded with my purchase of the frozen meal.
It was the Chicken & Dumplings meal. I ate it the next day and it was good, but not much different in packaging and in taste than some other brands I have had in the past. I probably could have gotten something similar for less money.
I was on fire - almost
4. Managing Surcharges on Investment Income: Even small income changes can trigger surcharges on long-term capital gains or qualified dividends. We work to keep clients below those thresholds whenever possible.
5. Georgia Retirement Income Planning: For Georgia residents, we help develop a plan to fully take advantage of the state’s retirement income tax exemption starting at age 65.
6. Bracket Management for Retired Couples: With retired spouses, we often maximize the Georgia exemption while keeping total income within the 12% federal tax bracket—creating tax-efficient income streams.
Final Thoughts
There is an excess of investment product available to consumers. These products are often given names that imply a winning outcome or that suggest a new and exciting strategy. These products appeal to our positive instincts, making us feel good about purchasing them. However, many of them will not be a match with our investment objectives. They may be too expensive, too risky, or not liquid enough. Just looking at a name will tell us nothing really. It is important to look under the hood and research these products extensively or ask an advisor you trust to help do that for you.
I paid an extra dollar to try a Dolly Parton frozen meal. The goal was to appeal to a consumer’s positive instincts towards the name, and I was one of their target markets. I don’t let positive emotion lead your investment decisions as the cost of a bad decision is significantly higher.
Our motto is “we can help you with that.” We will collaborate with you on any financial decision you make, engaging other subject matter experts when necessary. We will not stop until we get things right. We encourage you to reach out to us for assistance in making important financial decisions and we always appreciate you recommending us to others.
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And Now …
Today, 10 years later, our practice has grown considerably. We have phenomenal clients, a great team, and our practice is still part of the Integrated Financial Group. During this time, we have helped individuals and families with their estate planning, investment planning, executive compensation planning, retiree tax planning, and insurance planning. These are just a few of the areas we focus on for our clients.
I eventually got my drivers’ license (at the ripe age of 27), married my lovely wife, Wendy, and purchased a home in Woodstock GA complete with a fire extinguisher on each floor and a built-in sprinkler system.
Working with my amazing team to best service you has been the ultimate privilege. Our team will continue to expand our range of offerings with the goal of responding to all your financial planning needs. We will also make sure to do so without ever letting up on our service and responsiveness to you.
Thank you so much for being part of this journey.
Most investments are meant to be long term. Always evaluate whether the time horizon required for an investment to succeed matches your timeline for liquidity.
Imagine in mine and Wendy’s case if the doors and the windows locked just as we were trying to leave or that someone came down the stairs just as we were wandering around the main level.
Our motto is “we can help you with that.” We will collaborate with you on any financial decision you make, engaging other subject matter experts when necessary. We will not stop until we get things right. We encourage you to reach out to us for assistance in making important financial decisions and we always appreciate you recommending us to others.
by Hetmayar
Authored by Gary Alpert
Tracking ID: 828495
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