Intown Magazine Offers Business Advice During Pandemic

houstonintown.com

MAY + JUNE 2020

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The Village of Southampton offers programs that keep you engaged with always something new to learn or do. It is a great place to meet new-found friends with likeminded interests who are just as eager as you to continue to broaden their horizons. Take off as a group on one of our many adventurous outings and leave the driving to us. Wake up to a dip in the heated pool and spa or try integrating a new innovative exercise program into your daily routine in our state-of-the-art fitness center. No matter what exercise you choose, your health and wellness are our primary focus. Our community areas are designed with you in mind. Relax in the outdoor oasis with lounge seating, flower boxes and view of the Houston skyline. Prepare your pallet for an exquisite dining experience as you retreat for lunch or dinner in our beautiful dining room. If you are on the go with no time for formal dining, grab a quick snack or sandwich in the Bistro. Enjoy conversation with friends and family while you unwind from a busy day of adventure with a glass of wine in the Sky Lounge. Once you settle into your new home at The Village of Southampton, the sounds of the city and hustle of the world seem to fade away. It’s where you love the possibilities that each day offers.

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Hurry! Pre-opening pricing ends May 2020 and apartment homes are going fast.

We are still selling homes during the days of COVID-19 Listings Pending or Sold March/April 2020

17910 Country Hills/Tomball $799,500 MLS# 15451121

13201 Tracewood Cove/Parkway Villages $649,900 MLS# 25014065

8653 Green Kolbe Ln/Kolbe Farms $435,000 MLS# 66661494

Home Buyer Activity In March/April 2020 5238 Calle Cordoba Pl Houston, TX 77007 $820,000 Non MLS 1917 Rosewood St/Museum District $499,900 MLS# 28998343

808 Woodcrest #A/Lowell Heights $359,500 MLS# 66621846

1919 Rosewood St/Museum District $499,900 MLS# 19475566

808 Woodcrest #D/Lowell Heights $364,500 MLS# 69915982 806 Woodcrest #D/Lowell Heights $359,500 MLS# 32114902

3481 Crystal Creek Dr Sugar Land, TX 77478 $600,000 MLS# 37885524 6815 Scarlet Sagebrush Katy, TX 77449 $190,228 Non MLS

Day 50 of the COVID-19 Pandemic Shutdown as I write.

So many business and individuals have been negatively a ected, but real estate has remained open for business.

We stopped holding open houses during the Stay Home Stay Safe restrictive period, but we are still showing homes. I have got 9 properties under contract since the restrictions began and have listed 3 more homes. All companies associated with real estate have remained working – mortgage and title companies, builders, contractors, inspectors, etc.

If buyers or agents are concerned about catching COVID, they can wear gloves and masks while touring homes. I simply turn on all the lights, open up doors to all the rooms and keep my distance from the buyers or renters looking at the home. If Sellers are concerned about having people in their home, they can provide shoe covers and a trash can near the front door, then wipe down door handles and common touch points with a sterilizing cloth.

As we head into May, restrictions will be lifted for other businesses, and hopefully soon our economic machine will be fully back up and running. We can all get back to work if we use good judgment and best practices as we share space with others.

David Michael Young Broker Associate

713-320-6453 2001 Kirby Dr Ste 600 Houston, TX 77019 david.young@elliman.com www.youngrealtyhouston.com

2001 KIRBY DRIVE, HOUSTON, TX 77061. 281.652.5588 © 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY.

10 Magnolia Woods Dr/Kingwood $3,750,000 MLS# 50130592

845 E Friar Tuck Ln/Sherwood Forest $1,999,000 MLS# 68603547

11406 Chartreuse Court/Royal Oaks CC $1,495,000 MLS# 23495530

2619 Newman St/Upper Kirby $849,000 MLS# 63293249

4019 Driscoll St/Montrose $819,900 MLS# 66254848

608 W Saulnier St/Montrose $599,000 MLS# 19570947

14510 Tivoli Dr/Terraces on Memorial $599,000 MLS# 66293976

4010 Childress St/West University $489,000 MLS# 7161863

5718 Winsome Ln/Galleria Area $469,000 MLS# 3073589

2316 Beall St/Shady Acres $379,000 MLS# 79964966

3814 Center St/Washington Corridor $319,000 MLS# 18208693

10902 Memorial Dr/Hunters Creek $1,995,000 MLS# 46885169

Proven Performance – Year After Year

Over 17 years experience working with buyers and sellers of residential real estate in the Greater Houston Area.

David Michael Young

713-320-6453 david.young@elliman.com www.youngrealtyhouston.com

ather than words to fill this space, Intown decided that pictures tell a better story. Houstonian and professional photographer Barbara Perlick is using this time in quarantine to capture incredible images around Houston. A picture is worth a thousand words, holds true especially during times of struggle and uncertainty.

A few questions for Barbara Perlick Int: What were you looking for in telling your Covid-19 story through your camera lens?

BP: I’ve been really touched by the images of healthcare workers selflessly helping others. It shows Houston’s strength and sense of community. My desire was to capture a different side of the story. I wanted to show the effects of COVID-19 on the city from the average person’s perspective. I wanted to point out that to experience the full impact of these black and white photographs, it is imperative to know that they were taken mid-day during the week.

Int: Why were so many of your photos in black and white?

BP: Black and white is my signature style. I am drawn to it because I believe it creates a stronger emotional connection and lends itself to timelessness. The black and white images reflect the serious and somber emotions during COVID-19.

Int: What did you feel or learn during your many days of shooting this remarkable collection of Houston photos?

BP: When I first became interested in photography, my goal was to document where I was so I could always look back and remember how I felt in a specific moment.

My first photoshoot was difficult for me to digest. There was emptiness where there is typically congestion, and lines where they never existed. It was overwhelmingly sad, and this new reality hit me hard.

Houston is an amazing city. I’ve always found that difficult times can bring out the best in people, which is why I felt it was necessary to show the positive outcomes of this experience as well.

I began to photograph these situations in color because I wanted to demonstrate that there is a bright side to this seemingly grim time. I’ve been so impressed by the ingenuity of both children and adults as they have developed creative ways to still celebrate life’s important moments and help others.

For more go to www.houstonintown.com or www.barbaraperlickphotography.com Intown Magazine is published bi-monthly by SNS Media. Articles are welcome and will be given careful consideration for possible publication. Intown magazine does not assume any responsibility for unsolicited materials. Materials submitted will be returned if accompanied by a stamped, self-addressed envelope to Box 980757 Houston, TX 77098. You can also e-mail intownmagazine@gmail.com or call 713.525.8607. Copyright 2020 by Intown magazine. All rights reserved.

Content may not be reprinted or reproduced without permission from Intown Magazine.

ConCierge

SERVICE

Catherine Van Zutphen cath@cathvz.com 843-276-5271

Claudia Hellmund Chellmund@kw.com 832-309-9390

Colette Franz colettefranz@kw.com 713-416-4257

Genevieve Rowland genevieve@ rowland-properties.com 281-904-7014

James Selig james@theseliggroup.com 409-256-1274

Bell Property Team teambellsells@kw.com 214-763-2762

Jen Tran jentran@kw.com 832-646-2674

Lauren Taylor teamtaylor@kw.com 713-465-6105

Melonee Piperi mel@movinghouston.com 713-705-6029

Montse Foster Montse@kw.com 713-965-3019

Tara Kordula Anderson tarakordula@gmail.com 713-202-4101

The Property Joes joseph@diosanagroup.com 281-650-4658

Keller Williams Memorial 950 Corbindale Rd #100, Houston, TX 77024 Phone: (833) 533-6400 Fax: (713) 467-6226

Business

FOCUS

CORONAVIRUS Business Impacts

Understanding Business Loss Insurance - - What business owners should consider when they are told their losses are not covered

B

eing a business owner right now is difficult. Between Coronavirus damage and orders from state and local governments, most businesses have shut down. While businesses are closed, fixed expenses (e.g. rent, utilities, insurance) drain cash reserves. As commerce in many sectors of our nation’s economy has ground to a halt, most businesses have been forced to close, and for some, the only option has been to furlough employees.

Many business owners were diligent, purchased insurance, and paid premiums for years in order to have coverage for business losses. Often insurance agents and brokers promoted the insurance by describing the policy as a “safety net” in case there was a business interruption. But now when the coverage is needed the most, insurance companies and agents are telling businesses that their losses are not covered. One thing is certain: when it comes to protecting policyholders against business losses associated with the Coronavirus Pandemic, business owners are finding out 8 | Intown | May + June 2020

of the legal precedent interpreting insurance policies. When it comes to insurance coverage, the specific language of the policy makes a difference. While some policies have formidable exclusions that arguably eliminate coverage, there are many variations in the policy language and some policies may not exclude coverage.

In connection with most business loss claims associated with the Coronavirus Pandemic, three things that to look for in a commercial property insurance

By Rob Ammons policy are (1) business interruption covThe Ammons Law Firm erage, (2) civil authority coverage, and (3) that the insurance industry is not a good microorganism coverage or exclusion. neighbor and not on their side.

Business Interruption Coverage Despite what businesses are being Business interruption coverage entold, there may be insurance coverage sures a business for losses caused when for losses associated with the Corona- its normal business operations are disvirus Pandemic. Whether a business is rupted. This coverage is usually bundled covered for the current interruption in with other types of coverage under a its activities is a question that requires business owner’s policy, but some busian analysis of the specific language of nesses may have separate policies that the insurance policy including all exclu- cover business-interruption losses. sions, a review of the government order A feature of business interruption closing local businesses, and knowledge coverage you will want to be aware of

WORTHWHILE CONVERSATIONS

WHEN CAN WE UNBUCKLE THE SEATBELTS?

J. Harold Williams, CPA/PFS, CFP®, and the L&W professional team discuss the Fiduciary Standard and placing the client’s best interest first.

THE LAST 4-5 MONTHS WERE FULL OF TURMOIL IN FINANCIAL MARKETS. IS THIS UNUSUAL COMPARED TO OTHER MARKETS L&W HAS OBSERVED OVER 49 YEARS? In our 49-year history, we’ve seen a lot of markets that created financial uncertainty, which makes planning difficult. The “flavor” of each dish offered up by a market is always distinct, but the basic ingredients are the same. The key to a successful outcome in personal financial health is not unlike following a healthy diet – get sound ongoing advice from someone who has your best interest at heart.

WHAT DO YOU MEAN, “…YOUR BEST INTEREST AT HEART”?

Linscomb & Williams has a longtenured executive client who was recently and unexpectedly forced to retire early from the hospitality industry. We explained it this way:

Ask someone, “What should I eat?” and you likely won’t get the same recommendation from your neighborhood butcher as from a Registered Dietician. Your butcher might recommend the pork spareribs that just arrived, knowing you’ll find that recommendation appealing. The dietician, on the other hand, insists on a balanced program that will achieve your ultimate health goal, though it includes items you might not like.

WHERE’S THE CONNECTION TO FINANCIAL ADVICE DURING MARKET TURMOIL? Much of what passes for financial “advice” today is equivalent to the butcher selling you the pork spareribs.

The pork spareribs are what he has on hand to sell; he thinks they will work OK for you and that you’ll be happy.

He’s not that concerned whether it is the best option for your long-term health. The majority of financial advisors today still operate outside a pure fiduciary standard, and are under

no legal obligation to put your best interest above their own.

PRESUMABLY, L&W FOLLOWS A DIFFERENT APPROACH? At Linscomb & Williams, we are like that Registered Dietician. Following the fiduciary standard, we are obligated to put your interest ahead of our own. This is always important, but most especially, in times of market turmoil -- times when it makes sense to get a second opinion from an experienced firm with no products to sell. We have an experienced team to deliver that second opinion right here, right now.

For more information, or a copy of our Form ADV, Part II, with all of our disclosures, call Grant Williams at 713 840 1000 or visit www.linscomb-williams.com.

Linscomb & Williams is located at 1400 Post Oak Blvd., Ste. 1000 in Houston, TX For more information call 713 840 1000 or visit www.linscomb-williams.com.

Linscomb & Williams is not an accounting firm.

is the standard policy language in most policies that limits coverage to losses caused by “direct physical loss of or damage to property.” Based on the claim denial letters business owners are receiving, it appears that the insurance industry is taking the position that a virus in a business that attaches to surfaces, lives for days, is highly contagious and potentially deadly does not constitute any damage to the business owner’s property.

While no Court has yet ruled on whether the Coronavirus causes property loss or damage in a COVID -19 case, there are comparable situations where Courts have found the requisite property damage to invoke business interruption coverage. The language of the Harris County Judge’s Order that closed businesses should also be helpful to businesses when they challenge the denial of their insurance claims. Specifically, Harris County Judge Hidalgo’s Order states: Whereas the COVID-19 virus is contagious and spreads through person-to-person contact, especially in group settings; and Whereas the COVID-19 virus causes property loss or damage due to its ability to attach to surfaces for prolonged periods of time; and https://www.readyharris.org/Stay-Home

Based on this declaration, it can be argued that all businesses that are normally open to the public have suffered the type of property loss or damage necessary to trigger coverage under standard business interruption policy language.

Civil Authority Coverage Many businesses have insurance policies that include “civil authority” coverage—a type of coverage for lost business income that should be available when your business is closed by order of a government entity. Seems clear. However, when it comes to insurance coverage issues, very little is black and white.

Insurance companies and their armies of lawyers are very creative when 10 | Intown | May + June 2020

it comes to finding ways to deny coverage to businesses and policyholders.

For example, after September 11, 2001, airspace was closed by the government.

Airlines, hotels, restaurants, and other hospitality businesses were devastated by the loss of business they suffered due to the lack of airline travelers. Even though these businesses had civil authority coverage, insurers denied their claims, arguing that the government orders did not order that those businesses close. The same thing happened to businesses in Louisiana after hurricane Katrina. In those cases, the Courts sided with the insurance company claiming that the businesses were never actually ordered to close.

But Coronavirus is different. The position that the insurance companies took in the wake of these past disasters can be used against them now! The same court decisions that favored insurance carriers in these past disasters can be used to make a strong case that civil authority coverage directly applies for business losses caused by government-ordered business closures due to the coronavirus.

Microorganisms Since the outbreak of SARS in 2003, some insurance policies explicitly exclude damages caused by microorganisms. A standard insurance clause excludes payment “for loss or damage caused by or resulting from any virus, bacterium or other microorganism that induces or is capable of inducing physical distress, illness or disease.” Other policies, however, only exclude from coverage losses caused by bacteria, but not viruses like Coronavirus. Here again, a careful reading of the policy is crucial.

Insurers will likely also argue that standard policy language that bars coverage for damages caused by “pollution” or other exclusionary language applies to business losses caused by Coronavirus, and different courts have interpreted these provisions differently. So it is important that the specific policy language be reviewed by a lawyer familiar with the court decisions interpreting these provisions of the business insurance policy.

Finally, at least some policies that target the restaurant, gym, movie, healthcare, and similar industries industry explicitly provide coverage for losses caused by “communicable or infectious diseases,” without the need to show that the loss was the result of actual physical damage to property.

Conclusion When business pay premiums for business interruption coverage, they expect to be covered if they are unable to continue normal operations. Business losses caused by Coronavirus are staggering. Business owners can expect the insurance industry to use every imaginable excuse to avoid covering these losses.

A prudent business owner should not rely on an insurance company or anyone beholden to the insurance industry to interpret the policy language or to tell them whether their business loss claim is covered. At the same time, it makes little sense for struggling business owners to incur more expense paying lawyers hourly fees to review their insurance policy language.

The Ammons Law Firm is currently reviewing business insurance policies under a contingency fee arrangement that requires payment only if a recovery is ultimately obtained for the business owner. This means that a business which has already lost revenue due to the shut down does not have to incur any out-ofpocket expense. Given the hefty premiums that business owners have paid for business loss insurance and the uniform way in which insurance companies are denying the claims, it cannot hurt to have a qualified lawyer review the policy language to determine whether payment may be owed for Coronavirus-related losses.

Rob Ammons is a business owner and the Founder of The Ammons Law Firm.

He has been representing business owners and consumers in claims against insurance companies for over thirty years.

Your Advocates

During the Coronavirus Crisis and Beyond H DEDICATED TASK FORCE H LAWYERS WITH EXPERTISE H EXPERIENCE WITH SIMILAR CASES

LET US HELP YOU WITH YOUR BUSINESS INTERRUPTION CLAIM Contact: THE AMMONS LAW FIRM Covidclaim@ammonslaw. com (866)-808-0690 www. ammonslaw. com

HOUSTON I DALLAS I CORPUS CHRISTI I McALLEN

ME D I CAL

PE R SON

‘20

OF

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YE A R

CEO in The Trenches of A Pandemic Houston Methodist’s Dr. Marc Boom 2020 Medical Person of The Year

By Virginia Billeaud Anderson

A

pestilence out of the mouth of Hell had strangled hospital operations, and forced Dr. Marc Boom, President, and CEO of Houston Methodist, to scramble to save patients and protect the lives of employees. A critical administrative duty was to construct Highly Infectious Disease Units for COVID-19 patients. Far more difficult was to restrict family visits, which caused Richard Steubinger to die without his children and grandchildren present. Richard’s nurse, Tabatha Ketner, however, filled in and acted like family. Wearing personal protective gear that required shouting through a face shield, Ketner flashed family pictures, and transmitted messages of love.

Boom began every day with a 7 am conference call to the CEOs of the other Texas Medical Center institutions, he told Intown. Their war room sessions hashed out strategies like finding ventilators.

At every turn, his attention shifted with new mandates. In mid-April, Governor Abbott green-lighted diagnostic surgeries such as biopsies, with elective surgeries soon to come off lockdown.

Boom didn’t need his Wharton School MBA to know the importance of revving up services. Days before, Methodist began administering the antiviral drug Remdesivir in clinical trials, and several weeks previously led the nation in transfusing blood plasma from recovered COVID-19 patients into sick COVID-19 patients. Further, Methodist hooked up with VGXI Corporation to develop a COVID-19 vaccine. But Boom’s most fundamental duty was to inspire the beleaguered staff, which he did in a video message.

12 | Intown | May + June 2020

In it, Boom framed the virus era as historical. “Future generations will look back at this point in history and recognize it as one of our finest hours.”

And emphasized duty. “Like other first responders, health care professionals have chosen these bedside roles with the understanding that they come with certain risks. Throughout history, whether during wartime or natural disasters, physicians, nurses, and other clinical personnel, and the teams who support them have recognized their profound duty to do what is necessary to care for patients. We all must now be ready to act. It’s hard work, but the rewards are priceless, as we are all given the sacred

privilege of caring for patients in their most dire hour.”

A colleague told Boom he looked tired on video, so he fessed up to it in an email. Yes, tired, Boom wrote, but he wasn’t complaining or looking for sympathy, it was a blessing and a privilege to lead the organization, and his employees were tired. “I wish I could promise you that this will be over soon and that things will be back to normal. But I can’t. What I can promise you is that I will continue to pray for guidance and strength. And I will continue to come to work every day and strive to be unparalleled at my job so that you can be unparalleled at yours. Never forget that we are all in this together.”

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Bayou Island Park homes average 25 years newer and $250,000 less than their 77024 neighbors.

$1,100,000 1135 Bayou Island Drive Stunning, recently updated home in the prestigious Bayou Island Park gated community. Zoned to Spring Branch ISD's acclaimed Memorial High School, Memorial Middle School and Frostwood Elementary, this is the place to live. From the beautiful curb appeal to the open kitchen and living space, this home has it all. Recent updates include new roof (March 2020), new lighting, new paint throughout, new flooring, updated kitchen and landscaping.

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ccantele@remax.net May + June 2020 | Intown | 13

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Boom’s email revealed he had been blindsided. “Our battle against COVID-19 is something I’ve never experienced before as a physician or administrator.” A telling admission for a guy who watched Tropical Storm Allison wallop the most significant medical complex in the world. Unfamiliar terrain, yet Methodist was favorably positioned. Early in his career, Boom developed a hankering to work in the business side of medicine, so as CEO, he championed tech innovations that served patients and reduced costs. During the virus, telemedicine and virtual care helped operations to continue.

“We must all be ready to sacrifice,” he said on the video. Indisputably, the CEO included himself. “I felt the need to speak from the heart to acknowledge the difficult situation we were about to face and to let everyone know I would be right there with them fighting day in and day out,” Boom told us.

Aware that long hours and the stress of disrupted child care from school closures compound the threat to those in the virus trenches, we asked Boom about his situation. Boom’s wife Julie is a pediatrician at Baylor College of Medicine and Texas Children’s, and school closures have their three children home, Kathryn and John from universities, and Janie from eighth grade. The entire family worries about “both Mom and Dad in a health care setting each day.”

How does he stay healthy during the virus? He walks two miles every evening with Tessa and Major. His hounds are bouviers. For reinforcement, a morning walk too. “Tessa and Major think they’ve died and gone to heaven!”

Dr. Marc Boom (b.1966) has been the CEO for nine years. He administers eight hospitals, outpatient facilities, emergency, imaging and orthopedic annexes, a research institute, residency program, and affiliated, and specialty and primary care physicians. Boom also helps to reign in gifts such as the $21 million by the Jerold Katz Foundation for medical research. Surprisingly, he also sees patients. Last year, Houston Methodist celebrated 100 years.

Connected for you. Connected to you.

At Kelsey-Seybold Clinic, we have a forward thinking, interlinking approach to healthcare. Our medical staff works closely together on your behalf to deliver the most personalized treatment.

Isn’t it nice to know you have connections?

kelsey-seybold.com/cares January + February 2020

| Intown |23

3 Common Risk Tolerances:

E

by Jessica Banitt, CPA, CFP®

Wealth Advisor, Linscomb & Williams

16 | Intown | May + June 2020

verything in life has risks. For example, when you go to an interview, you risk not getting the job. When you ask someone on a date, you risk rejection. Exploring a new business venture brings the risk of failure. When it comes to investing, risk is not a “one size fits all”. Just because you may consider yourself a risk-taker, your financial future may not be an area where you want to gamble.

The best way to find your true investment risk tolerance is to assess your situation, so let’s take a look at the types of risk tolerance and how they guide your decision-making process.

First, what is risk tolerance? “Risk tolerance” represents the variability an investor is willing and able to take in their portfolio. The answer drives how you should invest.

Your risk tolerance is highly personal and is likely influenced by several key inputs: • Age: When you’re young, you may be willing to shoulder more risk because

you have more time to ride out any volatile market “waves”. Retirees may want to be more conservative.

• Goals. Calculate how much you need to reach your financial goals. Then, find an investment strategy that has potential to produce the needed returns to attain the goal.

• Timeline. How soon will you need your money? What could cause you to need it sooner than expected?

• Comfort level. How does stock market volatility make you feel?

Simplistically, risk tolerance can be: low, medium or high.

Those with a low risk tolerance tend to have a conservative investment strategy.

They shy away from stock market volatility and favor investments with predictable yields. An example of a conservative portfolio might be 20 percent stocks and 80 percent bonds. Historically speaking, you might expect an average return of around 6.1 percent, or a bit less than 3 percent after inflation. A $100,000 investment is worth $234,284 after 30 years in this portfolio.

Where Do You Fall?

Investors with a medium risk tolerance may split their money into 50 percent large-company stock mutual funds and 50 percent bonds. Such a balanced portfolio historically has returned 8.2 percent, or about 5 percent after inflation. $100,000 would be worth $429,731 after 30 years.

Finally, investors with a higher risk tolerance tend to be more aggressive and hopefully remain steady through inevitable swings in the market. An aggressive portfolio for this type of investor may be 80 percent stocks and 20 percent bonds, returning on average 9.4 percent, or about 6 percent after inflation. $100,000 in an aggressive portfolio would be worth $604,340 after 30 years.

Important as well, though, is to determine what can change your risk tolerance. Merely walking through life can call for changes to investment philosophy and risk tolerance for most of us.

Financial

For example, marriage and combining finances can be tricky. You and your spouse may likely have different financial goals as a married couple than you did when you were single. Does one of you have a higher risk tolerance than the other? Do you plan to start a family or build a home?

When buying a home, how you invest your down payment money depends on when you plan to buy. For a purchase in three years, you may need to be more conservative than you would if you were buying in ten years. Determining this timeline is the first step to figuring out your risk tolerance with those savings.

When you have a baby, it may be important to increase your cash reserves, buy a bigger life insurance policy and start a college fund. Start with a discussion with your financial advisor surrounding what your goals are for your family.

FOCUS

When your kids are grown, your income is likely at its highest, and your expenses may be lower than they were with children on the payroll. In this phase of life, focus on maxing out your retirement account contributions each year and saving as much as you can each month.

Approaching retirement, around age 50-55, can be a good time to see if you’re on track for your retirement goals. If you’re way off the mark, consider what changes you need to make to get on track. Again, discussion around your objectives is the first step.

Linscomb & Williams is a Houstonbased wealth management firm established in 1971.

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17113 Katy Fwy | Houston, TX 77094

Class Lamar High School 2020

Lamar High School Class of 2020

A tribute to your sacrifice

May + June 2020

| Intown | 19

Class Lamar High School 2020

Email us for a PDF of this tribute at intownmagazine@gmail.com

Beverly Smith

CLHMS Lake Conroe Specialist

Coldwell Banker Realty

(713) 569-2113 www.lakeconroebeverlysmith.com

10 Magnolia Woods Drive | Deer Ridge Estates

254 Pinerock Lane

Grand 12,708 SF estate on 3.85 acre lot in guard gated Deer Ridge Estates with guest house and pool house. Backyard playground features a large pool, secluded hot hub, many covered patios, 2 outdoor kitchens, fountains, fire pits, palapas and walking trail through the woods.

David M. Young | Douglas Elliman Real Estate | 713-320-6453

Must see to believe home in a private enclave on a corner lot in Bentwater! Open floor plan with a sleek chef ’s dream kitchen with an Oriental jade glass overlooking a gorgeous pool. Stunning custom art niches. Master retreat has its own private veranda. Stunning home built for privacy.

Beverly Smith | Coldwell Banker Realty | 713-569-2113

List Price $3,750,000 | MLS #50130592

List Price $1,495,000 | MLS #10538526

Moira Holden

Realtor, MSc, LHMS, GRI, MCNE Certified Relocation Specialist

BHGRE Gary Greene Realtors (281) 460 9402 www.moiraholden.com

516 W. 9th Street | Heights

List Price $899,000 | MLS #31427356

Mediterranean stunner in the heart of the Heights, walking distance to renowned shops & dining.

This gem stands out from the rest with sky-high ceilings, 8 ft wooden doors, and striking archway details. The inviting front porch opens through rustic double doors to a luxurious layout designed for entertaining. Formal dining, chef 's kitchen & 2-story living centered by a gorgeous wrought iron spiral staircase.

Michelle Hinton | Compass Real Estate | 832-795-2246

845 E. Friar Tuck Ln | Sherwood Forest List Price $1,999,000 | MLS #68603547

Classic 4 bedroom home with on fully fenced interior ¾ acre lot in Sherwood Forest, which has 24/7 security patrol. Outdoor entertainer’s paradise with resort style swimming pool, multiple covered lounge & dining areas, water features, sound system, mosquito misting system.

David M. Young | Douglas Elliman Real Estate | 713-320-6453

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CARRIE OUSLEY | 832.681.5020

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Unmatched service. Sound advice. And peace of mind knowing your money is well cared for. Now, how can we help you today?

Visit us at our River Oaks Financial Center, 2443 Westheimer or call at (713) 388-1059.

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