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205 - 384 - 6942 New Boat Showroom Landau Pontoon Boat Sales “Brand New 2022 Landau 232 Tri-toon rentals. Powered by 140 four-stroke . Powerful yet fuel ef- ficient. Online booking for pricing and availability.” Bennington Pontoon Boat Sales Call Michael 205-384-6942 for Pontoon Boat Sales • Dry Storage RV Park Area • Pontoon Rentals • Wet Storage • Ship Store • Boat Sales • Boat Service (Routine Service & Appointments) • Fuel 24/7 • R V Park (Applications Required) www.duskinpointmarina.com ~ 198 Duskin Point Road, Jasper, AL 35504 smithlakeliving.com I 3
Duncan Bridge Marina & rV retreat 55 Marina Drive Arley, AL. 35541 duncanmarina3@gmail www.duncanbridgemarina.com 205-387-1208 RV Retreat • Wet / Dry Slip Boat Storage • Public Boat Launch $ 10.00 Fee 205 - 387 - 1208 • Gas - 90 Octane Non Ethanol • Store - Boating Accessories & More • Beach Area - Picnic Tables Duncan Bridge RV Retreat offers long term parking on concrete pads up to 20’ x 50’. All pads have full hook-up and utilities (water, power, sewer, and wi-fi ). The park has year around water with a dock for easy access to water, bath house, and is very convenient to Duncan Bridge Marina. Pricing starts at $ 300 a month.. 4 I smithlakeliving.com
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• 7 Smith Lake Info / Water Level CONTENTS • 50 Cullman County Soil & Water Conservation District By Rachel Sweigard • 9 Impack of the Blueback Herring on the Rock the Boat - Fredricks Oudoor Smith Lake Fishery • 56 Smith Lake RV & Cabin Resort Smith Lake Lifestyles© By Rachel Sweigard Cullman Area Chamber of Commerce -Member Appreciation • 14 Sorace Ski School By Eddie Hand Buba Rito - A Family Affair By Kristine Bullock • 58 By Trish Hand • 20 Poor Man Poker Run Smith Lake Living™ 365 Vintage West Outdoors - By Eddie Hand • 64 “ One- Stop Shop” for Outdoor Furniture. • 26 Walker County Conservation District By Trish Hand Speegle’s Marina & Campground By Rachel Sweigard • 65 By Rachel Sweigard • 28 Winston County Natural Resource Conservation Service • 68 EVENTS Advertiser Index By Rachel Sweigard • 29 Ryan’s Creek Baptist Church- Car & Motorcycle Show By Pamela Boyd • 72 • 36 “It’s All About the Spigot” By Jeff Roberts • 74 • 78 Smith Lake Living™ { FALL 2022 } 14 58 SORACE SKI SCHOOL Cullman County Chamber of Commerce Member Appreciation Event Speegle’s 20 Marina & Campground 72 POOR MAN POKER RUN 68 CONSERVATION VINTAGE WEST OUTDOOR DISTRICTS www.SMITHLAKELIVING.com 26 , 28, & 50 6 | smithlakeliving.com
SMITH LAKE DAM Smith Lake Info: Elevation above sea level ( Full Pool): 510 feet Area: 21,200 acres Shoreline: 642 miles Lake level depth at dam: 264 feet Watershed drainage area: 944 square miles SMITH LAKE EMERGENCY BYPASS Smith Lake Dam Facts: Record High Water Level In service September 5, 1961 March 1973 .......... 521.2’ Two generators, rating 78,750 kilowatts each Record Low Water Level Type Rock-fill Length 2,200 feet October 1971 ........ 488.8’ Maximum height 300 feet Source Corps of Engineers Smith Lake is licensed by FERC with the following uses: energy, flood control, recreation and Lake Level - Auguse 15 , 2022 ............... 505.83’ economic opportunity, irrigation and drinking water, Rule Curve Lake Level August , 2022 .........510.0 ’ and fish/wildlife habitats. 0.03 Feet Above Rule Curve A.P.C. Shoreline Permit 4.17 Feet Below Full Pool Local Office (205) 384-7385 Historical Average Lake Level .................... 503’ www.apcshorelines.com The repair fees for Residential, Multifamily, and Commercial dock repairs or for major repairs. Call APC Shoreline for review of your plans. Water Temperature 88 degrees F August 15, 2022 smithlakeliving.com I 7
Smith Lake Living Smith Lake Living, LLC FALL 2022 Vol. XVIII No.3 788 County Road 97 Smith Lake Living had the pleasure of having a con- Bremen, AL 35033 servation recently with one of the Marine Police at Duncan Bridge Marina. The discussion was about water safety and Editor the improved boating traffic that has been observed be- cause people are following the rules of the waterways. The Kristine Bullock Marine Police thanked the support of the local judges for helping to enforce boating laws. Photography Thank you to all of the Smith Lake folks for support- Eddie Hand ing the numerous events on the lake. As we approach the start of school and football season, don’t forget that fall on Contributing Writers the lake is always special. * Kristine Bullock * Rachel Sweigard We have been blessed this lake season with very few * Trish Hand * Jeff Roberts * accidents. So, as you attend football parties and take fall Pamela Boyd * Eddie Hand * boat tours, remember to always have safety in mind. Smith Lake Living Magazine See you on the Lake ! Published by Eddie Hand Publisher Smith Lake Living, LLC Smith Lake Living Scan on your smart phone Advertising www.smithlakeliving.com “ a community magazine” For information about advertising in Smith Lake Living Magazine, please call ISSN 2150-3486 Eddie Hand 256- 287-1545 Issued by Email: [email protected] United States Copyright Letters Office Letters to the publisher are welcome, but must Library of Congress include the writer’s name and a daytime phone number. 101 Independence Ave. S.E. Washington, DC SUBSCRIBE TO S LLmIiVthINakGe Cover Smith Lake Living Magazine Justin Dyar’s Dock ONE YEAR SUBSCRIPTION AVAILABLE RYAN CREEK $ 25 check only POOR MAN POKER RUN (Make checks payable to Smith Lake Living LLC) By Eddie Hand Mail to: Smith Lake Living LLC 788 County Road 97 a community magazine Bremen, AL. 35033 All rights reserved. No part of the publication may be NAME: ________________________________________ reproduced without written consent of the publisher ADDRESS:_____________________________________ Copyright 2022 Smith Lake Living is a registered _____________________________________ Trademark owned Smith Lake Living LLC CITY | STATE | ZIP CODE SMITH LAKE LIVING MAGAZINE is distributed free of charge. PHONE: ______________________________________ EMAIL: ______________________________________FL 22 8 | smithlakeliving.com
IMPACK OF THE BLUEBACK HERRING ON THE SMITH LAKE FISHERY! By Rachel Sweigard Smith Lake attracts anglers from all over Thankfully, McKee cites, recent research the state, and even the country. These fisher- through a partnership between ADCNR and Au- men range from novices to professionals, but burn University conclude that there has been a they can all agree on one thing - Smith Lake slight improvement in the size of Alabama Bass is one of the best places in the Southeast to that are native to the lake. However, Crappie fish. Chris McKee, a biologist with the Ala- and Largemouth Bass are less abundant than bama Department of Conservation and Natu- they were prior to the Blueback Herring’s intro- ral Resources (ADCNR) and Supervisor of Dis- duction, and Striped Bass growth rates have also trict Three Fisheries, remarks that Smith Lake declined. McKee states that like other reservoirs is unique because of the amount of shoreline in the Southeast, the population of Largemouth that it boasts. The lake would likely take a life- Bass has been in decline since the Blueback time to fish! While fishing on Smith Lake is a Herring was introduced 12 years ago. He adds great pastime and memory maker for many, that the most recent sample of Largemouth Bass McKee advises anglers to be aware of the con- shows that there was a good spawn in 2021, so sumption advisories for fish caught in the lake he and others are hopeful that Largemouth Bass due to mercury levels. will trend upward on Smith Lake. McKee and his staff at ADCNR keep a As far as the Alabama Bass population on close eye on the fisheries on Smith Lake to Smith Lake is concerned, the research doesn’t make sure that the fish and lake are healthy. support that growth of the species has improved One way to ensure that fisheries stay healthy is since the Blueback Herring’s introduction, but to introduce various species of fish to the lake the survival rates of Alabama Bass have im- and observe the effects. The Blueback Her- proved. McKee also points out that the data ring is one such species that was introduced doesn’t support the improvement in Alabama to Smith Lake in 2010. Biologists knew that Bass populations solely due to the introduction of the Blueback Herring could have both positive the Blueback Herring; the Herring is considered and negative effects on the fishery on Smith an exotic species since it is not native to Smith Lake. Blueback Herring can negatively impact Lake, and introducing exotic species is illegal and sportfish populations by competing with sport- likely harmful in the long run, so McKee advises fish for food. On the other hand, Blueback against it unless there is an express reason. Herring can also support the sportfish popula- tion by serving as an additional source of prey. g hSmith Lake Livingtm smithlakeliving.com I 9
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Anthony (Tony) , Olivia (7), Nora(5), Elizabeth (20 months), Anna Sorace By Kristine Bullock When a passion in life is propelled to create something that will leave a legacy, that is often where true happiness can be found. The seed that was planted for the creation of Sorace Ski School came from a deep desire to share a love of watersports with anybody with a craving to learn. Sorace Ski School was founded in 2021 by Anthony and Anna Sorace. The couple has taught thousands of people of all ages the joy of watersports, and their goal is to continue to share this joy with as many people as possible. Anthony and Anna both grew up in Kentucky, and currently live in Home- wood, AL where they raise their three lake loving daughters. Not only did Antho- ny’s father introduce him to watersports at a young age, but he also instilled in him the aspiration to share watersports with others. Anthony began kneeboard- ing at just two years old, and progressed quickly to slalom skiing at the age of seven. By sixteen, he was competing in three event skiing. His success in the sport enabled him to compete with the Auburn University Water Ski team. Continued on page 16 15 smithlakeliving.com I
ANNA SORACE Having experienced a childhood filled with Lessons are available for all types of water- sharing the joys of watersports with others, it is sports including waterskiing and wakeboarding. As no surprise that the creation of Sorace Ski School demand for programming increases, Sorace Ski became a passion project for both Anthony and School hopes to offer winter clinics including off Anna. Currently, the couple is responsible for all water training and sport specific instruction. At facets of operating the ski school. They offer both this time, the ski school is only operating at Smith clinics and private lessons, which are available Lake, but the couple is willing to travel to other lakes throughout the year. Clinics typically run from should the need arise. Anthony operates under the March through October. Private lessons are a principal that everybody will experience success minimum of two hours, and cost $150 an hour. on the water when engaged in a private lesson or Clinics run in one hour increments per participant, enrolled in a clinic. Medals are even awarded to first and the cost $125 an hour. Their next clinics will time participants! be September 11th and October 2nd. Continued on Page 18 16 | smithlakeliving.com
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The lake lifestyle can often create the false perception that the popularity of watersports is much higher than it actually is. The reality is that there is still small percentage of people that actually have the opportunity to experience the excitement of waterskiing and wakeboarding. Anthony hopes that for every person Sorace Ski School introduces to watersports, that person can introduce a hand- ful of others. In that way, the love of the sport can be permeated through communities of people that might not have otherwise been touched by the joy that comes with experiencing watersports for the first time. For more information about Sorace Ski School, please visit their Instagram page at sorace_ski or contact them through email at [email protected]. g hSmith Lake Livingtm TESTIMONIALS: “Sorace Ski is amazing! They worked with our whole gaggle ages 4 to 9 on skiing and wake boarding. The kids didn’t want to stop, and ask daily to do it again.” “You guys are the best at teaching skiing! So impressed with how quickly you had our little girls up and truly enjoying it!!” -Becky Pittman -Jessica Sciacca “If Sorace Ski can get my daughters (ages 7 and 8) on the water and loving it, they “Sorace Ski is the best! He’s so patient with all the kiddos, and can get anyone out there” will have them all loving the water” - Christie Quade -Damaris Hamilton 18 | smithlakeliving.com
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By Eddie Hand On August 6, 2022, Alabama Lakewide Charities held their annual Poor Man Poker Run to raise funds for purchasing sonar equipment for local search and res- cue teams. There was a great turnout with over 600 poker hands played while travel- ing by boat to 19 different locations all over the lake. All the dock locations were deco- rated with different themes to greet participants as they drew their cards. Cards were turned in that evening at the after party held at Trident Marina. The after party featured a live auction which included donated prizes given by local sponsors to raise additional funds for the event. A winning dock was chosen, priz- es were awarded, and the winner of the poker run was announced. Continued on Page 22 20 | smithlakeliving.com
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Afterwards, everyone enjoyed music provided by The Wringers. Food and drinks were provided by The Grille at Trident Marina. Poker Run organizers extend gratitude to all the sponsors and volunteers that help to make this great community event possible. If you missed the poker run and still want to contribute, log on to www.lake- wide.org Alabama Lakewide Charities is a 501c3 non-profit organization. g hSmith Lake Livingtm POOR MAN POKER RUN 2022 AFTER PARTY & AUCTION 22 I smithlakeliving.com
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14538 County Road 222 Crane Hill, Alabama 35053 Connie Teems Broker / Owner Here at Integrity Real Estate, our goal is to assist our clients in the buying and selling process. We believe the best way to achieve this goal is with honesty and true commitment. Follow Us on @integrityrealestate2020 FACEBOOK www.teemupwithintegrity.com smithlakeliving.com I 25
WALKER COUNTY CONSERVATION DISTRICT By Rachel Sweigard In the Smith Lake area, there are multiple agencies and organizations in place to serve the community at large. These local agencies often partner with state and federal entities to work together for a common goal. The Walker County Conservation District (WCCD) focuses on conserving and promoting water and soil health in Walker County. Stacy Williams, the District Administrative Coordinator for WCCD, remarks that the WCCD is not a regulatory agency, but instead partners with community members to help improve area land and resources. Williams shares that they work directly with private landowners to address natural resource concerns, and develop conservation plans to help with issues such as soil erosion and water quality. The WCCD can provide cost-share assis- tance to help landowners put conservation plans into action. The District also partners with Alabama Extension, the Alabama Forestry Commission, and the National Resources Con- servation Service to provide education and outreach to the community so that more people will be aware of ways that they can better protect the areas around us. Williams says that there are many things that the average citizen can do to boost soil and water health in the area. First and foremost, practices such as community cleanups, recycling, and being mindful of pollutants such as herbicides and pesticides are easy ways to improve soil and water health. Consumers should always follow label instructions for application and disposal of chemicals such as fertilizers, herbicides, and pesticides. Pouring something down a drain is simply not the appropriate way to dispose of harmful substanc- es. Over time, incorrect use and disposal of chemicals leads to their leaching into the water supply and impacting the community at large. To improve soil health, landowners should try to minimize disturbances that wear down the soil and lead to erosion. The stronger the root systems of trees and grasses on a piece of property, the better the soil. For landowners with farms and livestock, crop and livestock rotations are vital to soil and water health. Williams urges everyone to be more mindful of their impact on the world around them so that it will stay healthy and beautiful for generations to come. g hSmith Lake Livingtm 26 | smithlakeliving.com
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WINSTON COUNTY NATURAL RESOURCE CONSERVATION SERVICES By Rachel Sweigard We are all blessed to be able to call this earth our home, but with great blessings come great responsibilities. One such responsibility is to be a good steward of the natural re- sources that surround us, including soil and water. While there are things relating to soil and water conservation that are out of our control, there are things that we can all do to improve and maintain the soil and water health in the Smith Lake community. Wade Hill, the District Conservationist for the Natural Resource Conservation Service (NRCS) in Marion and Winston Counties, shares that good, common sense is the best thing that the general public can do to preserve the natural resources around us. Hill states that landowners are ultimately the ones responsible for the soil health of their properties. The NRCS exists to partner with landowners to help implement best practices to support and im- prove soil health as soil health directly impacts water quality and health. For landowners who have livestock, Hill remarks that practices such as cross fencing to promote rotational grazing and limiting highly trafficked areas helps to keep soil from eroding. For the average home- owner, Hill says that the best thing to do is to keep lawns healthy with good, strong grass as the roots help to prevent erosion. Hill also shares that planting trees is a best practice for any type of property as their root systems work to combat erosion. Water conservation is regulated by county and state agencies. Various agencies sam- ple water on a regular basis. Currently, the water quality in Winston and Marion counties is very good. When a water sample comes back poor, the problem is immediately investigated and remedied as water quality directly impacts consumers. Hill remarks that average citizens can be mindful of their impact on water by not pouring pollutants onto the ground or into a body of water such as a river, stream, or lake. Soil is a natural filter for water, so Hill shares that citizens can see water health improve by simply being good stewards of the ground that they live on. Unfortunately, natural resources are impacted on a daily basis by all of us. With a little common sense, we can all work together to preserve our communities so that future generations can enjoy it like we have. g hSmith Lake Livingtm 28 | smithlakeliving.com
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Ryan’s Creek Baptist Church By Pamela Byod ANNUAL CAR & MOTORCYCLE SHOW Ryan’s Creek Baptist Church (RCBC) hosted their 1st Annual Car and Motorcycle Show on Sat- urday, July 30th. Despite a significant chance of rain only a few days prior to the event, God provided a beautiful, overcast day to host the incredible show. Approximately 49 show cars and motorcycles came out to share their beautiful rides. Amongst the extraordinary cars were a 1923 Ford Model T, a 1973 Ford Mustang Convertible, a 1930 Ford Model A, a 1964 Plymouth Barracuda, and a 1966 Honda 305 Dream. Over 250 attendees visited the show, enjoyed a hamburger and hot dog lunch, along with watermelon and cupcakes by Little Red Baking. The event was free to the public, and do- nations were accepted for the RCBC Food Pantry Ministry. Over 600 cans and boxes of food were col- lected, along with over $600 in cash to support the food pantry which serves the Brushy Pond Com- munity. Due to the generosity of 27 area sponsors, over 80 incredible door prizes were given away, and the first 37 people to register cars were given an awesome goodie bag. Interim Pastor, Brother John Hambright, delivered a great salvation message to the crowd, and Mr. David Bunn served as MC for the event. Trophies and plaques were given to Peoples Choice, Kids Choice, Best Rat Rod, Best Bike, and Best of Show. The event was so well attended that the 2nd Annual Event has already been scheduled for Saturday, July 29th, 2023. So, mark your calendars now, and follow Ryan’s Creek Bap- tist Church on social media for updates. Continued on Page 32 30 | smithlakeliving.com
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~ Specializing in cUSTOM BlinDS anD SHaDeS ~ Custom Sizes Professionally Installed - Call for a Quote Follow Us on Facebook Smith Lake Blind Company ~ Brian DeWitte Owner 205 873-1379 Natural Woven Roman Shades with privacy lining featured above are a big [email protected] favorite for Smith Lake homes. To learn more about Ryan’s Creek Baptist Church, please join them for worship on Sundays at 10:45 AM. The church will be having a Discover RCBC luncheon for those wishing to learn more about RCBC, as well as their ministries following the morning service on August 21st, 2022. Please contact the church office at (256) 287-1613, or email them a [email protected] to reserve a spot for the free luncheon. g hSmith Lake Livingtm 32 | smithlakeliving.com
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“ It’s All About the Spigot” One of the most interesting parts of my By Jeff Roberts career is getting to know how clients think about To grasp these two stages, picture a bucket, money. People are very different in that regard. which symbolizes our retirement nest egg, and So, it is important to understand each person’s money is the water we put in it. During our work- perspective if my team is going to be able to guide ing lives, we systematically place money into the them to joyfully steward their resources. We ask bucket to accumulate for our future. The more a lot of questions to people who visit us for the money we save, the more money we have in our first time. For example: “What are you trying to bucket, and the bigger bucket we are going to accomplish, financially?”, “How do you define fi- need. Hopefully, our savings is invested well so it nancial success?”, “What values do you consider grows and compounds over time as we continue when making money decisions?”, “What will be to contribute. Picture money (like water) going the largest purchases in your lifetime?” into the bucket during Accumulation. Whether by disability, employment termination, arbitrary That last question usually draws two re- retirement, or proper financial planning, most of sponses: car and house. If you really think about us will retire. Then, no more additions come into it, most of us will labor over the details of a car or the bucket, unless there is an inheritance, prop- house purchase like nothing else. These pur- erty liquidation, or lottery winning. chases are very large expenses and, if the money Hopefully, the bucket is full of money/water at re- is to be spent, we want to get it right. Yet, very tirement. For Distribution to begin, a lid is placed few people have ever come into our offices with on top of the bucket and a spigot is inserted on as much clarity on what is actually the biggest the side towards the bottom. You don’t need a purchase of their life . . . retirement. And, yes, PhD in physics to know what happens to the wa- retirement should be customized in great detail, ter level (the money level) if I were to crank the purchased with a precise amount of money, and spigot until it is wide open. Money would pour monitored meticulously over time to ensure suc- out the nozzle extremely quickly and, in short cess (before and after retirement occurs). order, no money would be left. The Distribution stage of life is all about spigot control. We must An important part of my job is to simplify turn the spigot handle just enough so it pours an complex financial conversations into terms people income that can sustain us but not so much that can understand. When referencing retirement, I our bucket stands a chance of running dry at any explain there are two broad stages in our finan- point in our lifetime. cial lives: Accumulation and Distribution. Accu- mulation is the period of our lives when we are Generally speaking, the rule of thumb is actively saving for the future (for example, college to keep your retirement income distributions to education for children or for our own retirement). 3.0% of your nest egg (annually) or less. Using Distribution occurs when we have accumulated the bucket analogy, the spigot handle can be enough savings to accomplish our goal(s), and turned enough to pour out 3.0% each year . . we are withdrawing money to do so. Most com- . 4.0% at the most. For example, if you have monly, “Distribution” equals retirement, which is $1,000,000 saved in your retirement bucket, when we are living off our nest egg to replace our you can safely carve off $30,000 in year one employment income or to supplement part-time ($1,000,000 x 3.0% = $30,000). You may be work, Social Security, or a pension in retirement. thinking, “I can’t live off $30,000 per year in re- Point being, there is a defined line when accu- tirement!” No worries, because if you have been mulation (savings) ends and distributions (with- contributing into Social Security for 40 quarters drawals) begins. People normally do not save into (10 years), then you may be eligible for Social their retirement bucket while withdrawing from it Security retirement benefits as well. If you are at the same time. thinking that still isn’t enough, then you simply cannot retire until you have more money in your 36 | smithlakeliving.com Continued on Page 38
Jeff Roberts ChFC®, CRPC®, CFS®, CKA®, BFA™, APMA®, AEP® Private Wealth Advisor | Founder and President MavenCross Wealth Advisors®, a private wealth advisory practice of Ameriprise Financial Services, LLC (205) 313-9150 * [email protected] * mavencrosswealth.com Financial Planning for 30 Years Ranks Among Alabama's Top Leaders in Financial Planning Dedicated to being \"the obvious choice for guiding clients to joyfully steward their resources.\" Barron's® Top 1,000 Advisors, 2009-2011 Barron's® Top 1,200 Advisors, 2014-2022 CA Insurance #0G34699 Barron's® generates its rankings from a formulaic analysis of surveys answered by candidates regarding assets, revenue, and quality of practice, including an advisor's regulatory and compliance record. Barron's® is a registered trademark of Dow Jones, L.P.; all rights reserved. This award is not indicative of this advisor's future performance. Neither Ameriprise Financial nor its advisors pay a fee to Barron's in exchange for the ranking. The Compass is a trademark of Ameriprise Financial, Inc. Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2022 Ameriprise Financial, Inc. All rights reserved. smithlakeliving.com I 37
It’s All About the Spigot bucket or can arrange some supplemental retire- Some people ask, “If my portfolio grows at ment income, like part-time employment. If you 6.0% for the year, why can’t I take all 6.0% as an think of your retirement nest egg as a fruit-bear- income stream in retirement?” You can but, if ing tree, we can pick a piece of fruit during retire- you do, then you are not leaving anything inside ment, but we can’t break a branch. If you break the portfolio for long-term growth and to keep up too many branches and we have a drought for your purchasing power over time. Remember, an extended period of time, your retirement tree there is that pesky thing called “inflation” that could die. Similarly, if you put too much strain on your portfolio is competing against. And, if you your investment nest egg when markets are down, are determined to carve off all of your investment you could permanently damage your retirement earnings every year, what are your actions when plans, start spending down your principal, and run the portfolio experiences negative performance? out of money. If the portfolio is down -10.0% one year, will you not take any distributions at all since you stripped But doing the math is only half the job; the all of the growth out in prior years. Or, better yet, other half is working with someone who has the will you put 10.0% back in the wounded portfolio moxy to steer you in the right direction, when to replace what markets have reduced? needed. I once worked on a case where the wife was fighting me on reining in her spending Using the 3.0% rule of thumb, you could in retirement. “We have $5,000,000. I don’t carve up to 3.0% off the portfolio value every understand why you get on me so much about year. Again, in the good investment performance what I spend.” To which I replied, “Because you years, you keep any growth above the 3.0% spend money like you have $12,000,000. I know distribution remaining inside the portfolio to help the long-term impact of that behavior, and I care grow (over time) and keep up with inflation. In enough to discuss it with you, even if you get mad the years of bad investment performance, you at me.” She squinted her eyes at me, and I think still carve off your reasonable 3.0%. But, like all almost snarled. But I could tell she was holding rules of thumb, there are exceptions. Typically, back a big grin. People, I’ll die fighting that battle the older you are, the more variability there can all day long. be. If an individual is 80 years of age, the life expectancy tables indicate a non-smoker has You may be thinking, “Hang on a second, are a 50% chance of living to age 92.(1) Over that you telling me I’m only going to make 3.0% on my unique period of time, a higher distribution rate money during retirement?” No, but don’t con- (over 3.0%) could be reasonable. Of course, if fuse what you carve off as an income distribution someone is terminally ill, the 3.0% might not ap- with your total investment return. For example, ply (unless there is a surviving spouse who will be assume you are retired, and you are comfort- dependent on the nest egg). Perhaps the biggest able with a moderate amount of investment risk exception to the rule falls under the one thing we throughout your years in retirement. Perhaps can’t always control, performance. your nest egg is positioned in a “Moderate” asset allocation portfolio consisting of 50% stocks and Unfortunately, brutal investment markets 50% bonds, alternatives, and cash. Let’s also are just a part of economic cycles. Even the assume such a portfolio averages 6.0% per year most diversified and well-managed portfolio will (hypothetically) over time. Of course, there are experience significant head winds in years like some years where the portfolio grows more than 2022. When your nest egg is down in value, due 6.0% and other years when the performance is to whatever reason, that is when it makes sense negative (like 2022 so far). You carve off 3.0% to be more conservative with any portfolio distri- whether the moderate portfolio is up +15.0% or butions. Try not to make large expenditures of down -5.0%. The excess you don’t take during any kind that will lead to portfolio withdrawals the good years adds cushion for the years when when your accounts are struggling with difficult investments are not performing well. market conditions. For example, if your portfolio Continued on Page 42 38 | smithlakeliving.com
Vaughn Sparks CFP®, CRPC®, APMA®, ADPA®,CFS®, AEP® Financial Advisor Financial Planning for Smith Lake MavenCross Wealth Advisors®, a private wealth advisory practice of Ameriprise Financial Services, LLC 31 Inverness Center Parkway - Suite 550, Birmingham, AL 35242 (205) 313-9150 * [email protected] * mavencrosswealth.com Dedicated to being \"the obvious choice for guiding clients to joyfully steward their resources.\" Not Federally Insured | No Financial Institution Guarantee | May Lose Value Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. The Compass is a trademark of Ameriprise Financial, Inc. Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2022 Ameriprise Financial, Inc. All rights reserved. smithlakeliving.com I 39
It’s All About the Spigot is down -12% due to market declines and you cash position rather than investments. And, when carve off your normal 3.0% income distribu- investment markets are expected to be disruptive tion plus another 3.0% for a large expenditure, for longer periods of time, you can carve off larger now your life savings is down -18%. If inflation chunks of cash (2 years). The idea is to have a por- that year is 3.0%, now it is like being down tion of your nest egg liquid and available for income -21%. If that happens early in retirement, it and give the rest of your portfolio time to bounce can have a devastating impact on your long- around and/or recover from volatile markets. When term financial health. So, it might be best meeting with your financial advisor on a regular to hold off on the new vehicle purchase, the basis, you can monitor and reload the cash when kitchen renovation, or the European vacation needed. Another great benefit to this strategy is it during challenging market and economic allows you (and your advisor) to be very selective of climates. You do not have to delay those where to pull from when reloading your cash. You expenses forever, just wait until things have a can harvest the dollars from the ideal spot at that chance to improve. In the last 20 years, most time. market downturns (at their worst) have been If any of this is confusing or you are not certain known to improve dramatically in just 12-18 what to do, just remember this, “Financial planning months.(2) is key to almost all financial matters.” For clients One way to protect yourself from drawing who are still accumulating for retirement, we use down on investments when they have declined planning to estimate what their monthly expenses in value is to work with your financial advisor will be the day they retire. And, whether you are and carve off your monthly income distribu- planning to spend $5,000 per month or $50,000 tion for many months in advance. Keep the per month (after-taxes) in retirement, financial plan- money in a liquid cash position, and pull your ning is the tool we use to determine exactly what monthly income need from cash vs. invest- size nest egg is needed to provide that distribution ments. For example, let’s assume you need lifestyle. Conversely, if you are retired and have a to supplement your Social Security income fixed amount of savings, we can tell you the amount and/or pension income with $8,000 per of money you can safely carve off your nest egg month from your investment portfolio. First, each year. Spigot control is something you simply your retirement nest egg needs to be around cannot get wrong. Regardless of which stage you $3,200,000 to sustain that kind of long-term are in (Accumulation or Distribution), it is extremely monthly distribution ($8,000 per month x 12 important to meet with your financial advisor on a months = $96,000 / 3.0% = $3,200,000). regular basis to make sure you are on track, given Next, you could liquidate 6 months, 12 the myriad of factors that can alter your path along months, or 18 months at one time and make the way. income distributions by drawing-down on the (1) MoneyGuide Pro g hSmith Lake Livingtm (2) JP Morgan, Guide to the Markets, page 4 (08/02/2022) The views expressed here reflect the views of Jeff Roberts as of July 28, 2022. These views may change as market or other conditions change. Actual investments or in- vestment decisions made by Ameriprise Financial and its affiliates, whether for its own account or on behalf of clients, will not necessarily reflect the views expressed. This information is not intended to provide investment advice and does not account for individual investor circumstances. Investment decisions should always be made based on an investor’s specific financial needs, objectives, goals, time horizon, and risk tolerance. Past performance does not guarantee future results, and no forecast should be considered a guarantee either. These illustrations are hypothetical and are not meant to represent any specific investment or imply any guaranteed rate of return. Jeff Roberts, ChFC®, CRPC®, CFS®, CKA®, BFA™, APMA®, AEP® is a Private Wealth Advisor with, and Founder and President of, MavenCross Wealth Advisors®, a private wealth advisory practice of Ameriprise Financial Services, LLC in Birmingham, AL. He specializes in fee-based financial planning and wealth management strategies and has been in practice for 29 years. To contact him, call (205) 313-9150 or visit his website at mavencrosswealth.com. Offices are located at 31 Inverness Center Parkway – Suite 550, Birmingham, AL 35242 and 1400 Jack Warner Parkway – Suite 5, Tuscaloosa, AL 35404. Not FDIC or NCUA Insured No Financial Institution Guarantee May Lose Value The Compass is a trademark of Ameriprise Financial, Inc. 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. Ameriprise Financial is not affiliated with any religion or faith-based financial advisor organization. Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2022 Ameriprise Financial, Inc. All rights reserved. 42 | smithlakeliving.com
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CULLMAN COUNTY SOIL & WATER CONSERVATION DISTRICT By Rachel Sweigard Humanity has a huge impact on the nat- vation Development Commission Program, which ural world. While planet Earth has a plethora of provides cost-share grants to landowners whose resources to sustain our lives, it is up to us to take land is being used for agricultural or timber pro- care of the world around us. This looks differently duction. depending on the area in which you live, and there are, of course, things that are completely out of The CSWCD also partners with various our control. Through the efforts of individuals and educational programs in the community. Each groups such as the Cullman Soil and Water Con- spring and fall, the Cullman County Forestry servation District, area resources will hopefully be Planning Committee sponsors Forestry Awareness available for generations to come. Week Now (FAWN) for students in the sixth grade to teach them about the importance of natural The Cullman Soil and Water Conservation resources in their lives. The Cullman County Wa- District (CSWCD) is a division of the state govern- ter Festival is intended for fourth grade students ment, and is in place to carry out soil and water to teach them about water and the water cycle in conservation efforts in Cullman County. A volun- a hands-on way. The CSWCD also partners with teer Board of Supervisors governs the CSWCD’s Future Farmers of America (FFA) at local schools activities, and the District employs a staff of four to assist in the various contests that are held each people to run daily operations. Like other similar year for FFA students, and offers continuing edu- entities, the CSWCD partners with the Natural cation classes for teachers so that they can take Resource Conservation Service to preserve the the latest information back to their classrooms. soil and water quality and overall health of Cull- man County. The Natural Resource Conservation The CSWCD is a vital resource in the com- Service is a branch of the U.S. Department of munity, and members urge citizens to be good Agriculture, and was formed in 1937 by Congress stewards of the land that they inhabit. To keep to help conserve natural resources as a response soil healthy, which in turn keeps water healthy, to the Dust Bowl that blighted the Midwest. The residents should be mindful of the health of their CSWCD also sponsors various programs such as grass and trees on their property as healthy root the Environmental Quality Incentives Program, systems prevent erosion and, in turn, allows the which provides financial and technical assistance soil to act as a natural filter for the water. To keep to farmers, and the Alabama Agricultural Conser- Continued on Page 52 50 | smithlakeliving.com
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