Leaders & Legends Dinner

Pat Wynn, Joe Newberry, Deion Sanders, Terrence Clay

Leaders & Legends Dinner Goes “Prime Time” with Deion Sanders

Photos by Steve Babin

The Boys & Girls Clubs of North Alabama and presenting sponsor Hiley Automotive Group hosted the 2021 Leaders & Legends Dinner featuring special guest Deion “Prime Time” Sanders on July 8 at the Von Braun Center.

The annual event is one of the area’ s largest fundraisers, attracting some of the world’s most accomplished athletes, leaders and speakers. Over 1,000 people attended to support the Boys & Girls Clubs, which depends on proceeds from fundraisers to continue its mission to inspire and enable local youth to reach for their potential.

“This was our first major fundraiser in a year and a half, and we’re so humbled that everyone came out to enjoy the evening and support our kids. It means a lot,” said Patrick Wynn - CEO Boys & Girls Clubs of North Alabama.

Club Alumni and Hall of Fame Inductees Aaron Brazelton and Dr. Jeremy L. Williams opened the night up with inspiration and encouragement. Deion Sanders, a member of the Boys & Girls Clubs growing up, took the stage, adding his “Primetime flair” to the evening, telling the crowd that the Clubs “gave him a place to be real.”

Redstone Federal Credit Union President Joe Newberry ended the night by announcing a $2 million pledge supporting the organization’s Doors to the Future Capital Campaign, enabling the nonprofit organization to expand its services and impact. n

Mackenzie & Kathi Tew, Davie Bier, Lynn Carter

Karla Maranville, Jamarion & Shaquila Willie

Sherika Altipoe, Angela Humphrey Mike Kirkpatrick, TC Zimmerman

WORTHWHILE CONVERSATIONS

JUGGLING THE RETIREMENT PIECES…

Left to right: Phillip Hamman, CFA, CFP®; Chris Russell; Sheri Robinson, CPA, CFP®, AEP®; J. Harold Williams, CPA/PFS, CFP®

WHY THE JUGGLING ANALOGY?

Pop singer Elvis Costello said, “I feel like a juggler running out of hands.” That’s the mindset of many recently retired people with a good amount of savings. They oftentimes feel overwhelmed when coordinating the pieces necessary to replace what has been a lifetime of dependable paychecks. We’ve learned over 50 years that it’s challenging to transition from consistently saving for the future to living off accumulated assets.

NOT A BAD PROBLEM -- TO BE LIVING OFF YOUR ASSETS AND NO LONGER WORKING…

It IS a nice problem. But big dollars are at stake in getting it right. We worked recently with a retiree from a major defense contractor who decided to walk out the door at age 60. His situation is not uncommon. He and his wife have done a great job laying their foundation – Social Security, a pension, a 401(k) with company stock, and some after-tax savings. No worry about outliving their money; but they want to make the most of these assets in the long run for their family. They worry the varying tax impact associated with different decisions in drawing down assets can have widely different long-run outcomes. They want to get it right.

ARE THEIR CONCERNS VALID?

Yes. Our Wealth Planning Committee professionals (CPAs, attorneys, and others) work together to model out these alternatives for clients. In this case, skillful “juggling” of the drawdown of assets and their elections around Social Security and taking company stock from the 401(k) matter greatly. As Committee Chairman, Phillip Hamman, CFA, CFP®, stated it: “The projected difference in the ending asset values between the base case and the optimum case shows a 40% increase to heirs.”

WHAT SHOULD PEOPLE LOOK FOR?

The key is making sure you get the experienced and unbiased advice you have the right to expect. The majority of financial advisors out there are NOT 100% on a fiduciary business model. At Linscomb & Williams, we are a fiduciary for our clients, providing service and advice for a fee with no products to sell. Our team is ready to meet for a no-cost, no-obligation exploratory conversation at our office in Huntsville.

For more information, or a copy of our Form ADV, Part II, with all of our disclosures, call Chris Russell at 256.214.9713 or visit www.linscomb-williams.com.

Linscomb & Williams is located at 312 Clinton Avenue West in Huntsville, AL For more information call 256 214 9713 or visit www.linscomb-williams.com.