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Ottumwa Publishing
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of survey respondents (68%), say passing generational wealth onto your heirs is important to you, here are some things to keep in mind:
(REITS) and other purchases of property.
NOVEMBER 30, 2022
work with you and your estate planning attorney to ensure your will 4. Pass along financial facilitates your wishes wisdom for sharing generational Financial values are wealth. another important as1 – Ameriprise Money and Strategies for growing set to pass along to study (Money & Family: generational wealth heirs. Many families find Family A new study on generational it beneficial to discuss wealth) 1. Be a strategic saver. their financial decisions Rather than leaving with their adult children This information is being prowealth accumulation to and stepchildren. Clear vided only as a general source of information and is not inchance, strategic savcommunication can tended to be used as a primary ers set goals and work help establish realistic for investment decisions, to actively increase their expectations and avoid basis nor should it be construed as savings. They make surprises and conflicts advice designed to meet the regular contributions when it comes time to particular needs of an individuto savings accounts. pass along your assets. al investor. Generational saving curbs Wealth – What Is It Active Duane J Lusson, CFP, ChFC, spending and influences 5. Consider “Giving and How Can You earning behavior. They While Living” CLU, MSFS, is a Private Wealth Advisor with Ameriprise Create It? may defer purchases, Plans for sharing genFinancial Services, Inc. in Otwork longer, pursue erational wealth can tumwa, Iowa. He specializes in fee-based financial planning In a recent survey from higher-paying employinclude giving now and asset management strateAmeriprise Financial, ment, or make other rather than waiting to and has been in practice more than 3 out of four choices (and sacrifices) hand down assets after gies for 30 years. To contact him, Americans (78%) said to ensure their savings death. Beneficiaries are call 641-684-4200 or stop by they have taken at least goals are met. often adult children but one step to build gencan also include charierational wealth1 But 2. Invest in stocks. In- table organizations. Givwhat exactly constitutes vestors who are serious ing in the present can “generational wealth” about income growth satisfy the desire to help – and how can you utilize the stock market. now and enable you to achieve it? Most experts recomsee the impact of your mend a buy-and-hold generosity. That said, it The most common an- approach to optimize shouldn’t come at the swer (44%), according earnings over time. A risk of your financial seto survey respondents, risk-adjusted, diversicurity, so make sure you is wealth in excess of fied, and balanced port- have the means neces$500,000 that’s passed folio can help investors sary before writing a down to loved ones. meet their investment check to your favorite Depending on your goals. cause. financial situation, half a million dollars may or 3. Invest in real estate. Building generational may not sound like a lot Historically, property wealth is a lifelong of money. But one thing values have increased process. Along the way, is clear: no matter how over time, making an experienced finanmuch you intend to one homeownership a lead- cial advisor can help day bestow upon your ing method of wealth you develop a financial family and friends, it accumulation. Investors plan and set achievhelps to have a plan. may also diversify their able goals aligned to portfolios with Real Es- your estate planning If you, like the majority tate Investment Trusts needs. Your advisor can
his office at 527 W. Second in Ottumwa, Iowa. Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation. Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value. Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2022 Ameriprise Financial, Inc. All rights reserved. File # 5079617
NOVEMBER 30, 2022
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2022 BVC Fall/Holiday Event Schedule Comedian Chad Prather
Saturday, December 3 l 7:30pm BVC Theater l $29.50 l $34.50 l $49.50 l $99.50
Clint Black & Lisa Hartman Black Sunday, December 4 l 7:30pm
BVC Expo Hall l $50 l $70 l $80 l $100
ABBA-Solutely Christmas
Thursday, December 8 l 7:30pm BVC Expo Hall l $32 l $42 l $52 Groups of 10, Seniors, Students 16u, Active Military $5 off per ticket
Joseph Hall: Elvis Rock’n Remember Christmas Show
Saturday, December 10 l 7:30pm BVC Theater l $33 VIP $28 Reserved l $15.50 Students
The Magic of Bill Blagg LIVE!
Saturday, January 14 l 7:30pm BVC Theater l Starting at $29
For ticket information, visit
www.bridgeviewcenter.com
Ray’s Longbranch Homemade 1/2 lb. Tenderloins & Hamburgers Drakesville, IA • 722-3355
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NOVEMBER 30, 2022
Serving Bloomfield & surrounding counties for over 20 yrs.
Trophy Ridge
Timber Management Outdoor activities come in many forms. Some people like to camp and hike, which is fine for them. I prefer to have something more than a few sore muscles to show for my outdoor sports. I prefer hunting, fishing, or cutting firewood. A person generally has something to bring home from these activities. I have tried hiking for the entertainment of it but have come to the conclusion it is easier to ride a horse or a four-wheeler to remote locations. If I go hiking, it will be during deer or pheasant season, and I will be carrying a gun. If I do not get anything, we can call it hiking, otherwise it is hunting. Some people may not consider cutting firewood a sport, but I find it quite entertaining as well as giving a person that satisfaction of having accomplished something. Fortunately, I have a son and
TAXIDERMY
Mike & Cindy Tinkham
14955 293rd St. • Bloomfield, IA • 319-230-6215 trophyridgetaxidermy.net
grandson that also enjoy a nice outing into the timber to cut wood. With three people working at it, we can make a heck of a pile of firewood in short order. We also have the added benefit of clearing the timber of undesirable trees and removing the dead wood. Most of my timber consists of hickory, ash, and oak. There are a few honey locusts, also known as thorny locusts because of their horrible long thorns. There are a few other non-native species that compete for space and nutrition to the detriment of the hardwoods. A locust tree will grow extremely large, shading the young trees near it, stunting their growth. They will also broadcast a
million or so seeds per year. If not controlled, locust trees will take over an open pasture as well as choke out and ruin an established timber. I have found locust to be very desirable firewood. It has many of the characteristics of red oak in both ap-
pearance and heating value. Within a year of removing a huge old locust, nearby trees will be straighter, taller, and healthier. A big
tree like this will also yield enough wood to heat the average house for a couple of months. One of the great rewards of this type of timber management is shown the next spring. Where the big tree was removed, new fresh grass is growing in the middle of the woods. These areas become magnets for deer, turkey, and other wildlife that have spent the winter digging through the snow for acorns and hickory nuts. They can feed on the new growth undisturbed and protected by the remaining trees. Several trips per year to cut and clear will make a remarkable improvement to a stand of timber. Trails are cut through the brush and non-viable trees to get to big dead trees or locusts. What remains is cleared trails that could be used for hiking if a person so desired but work really well for four-
wheeler trails or motorcycle riding. More food and habitat are available for wildlife. It is also a wonderful physical fitness program. By fall, the trails will have young trees sprouting up providing fresh browse for the deer. Nuts will fall into these open areas making the following winter just a bit easier on the wildlife that has to scratch away the leaves and snow to find a meal. If a person is able to get a few friends or close relatives together for an afternoon outing, it is hard to beat timber management for good clean fun.