The Insurance Doctor

Year: 2017

What is the Value of a Yankees Number?

I was one of the privileged Yankee fans to be at the game last month where Derek Jeter’s #2 jersey was retired meaning no other Yankee will ever wear that number.

Jeter is the 19^th Yankee to have a retired number and it’s the Yankees’ 18^th different number retired (both Yogi Berra and Bill Dickey wore #8), the most in Major League Baseball. There are no more Yankee numbers available from 1-10.

Jackie Robinson’s #42 is now retired from all MLB teams and there is lobbying to retire Roberto Clemente’s #21 from all teams as well.

When Ricky Henderson joined the Toronto Blue Jays in 1993 he gave $25,000 to Turner Ward for his beloved #24. In fact, I met Ricky in 2004 when he was playing at age 45 for the Newark Bears of the independent league. His response to a 10 year old boy was “Ricky Henderson don’t sign no autographs”.

When Brian Jordan joined the Atlanta Braves in 1999 he gave a $40,000 motorcycle to then 3^rd base coach Fredi Gonzalez for #33.

What happens when there’s no numbers left?

Supply and demand dictate that jersey collectibles will become more rare hence driving prices up for retired jersey collectibles.

It’s only a matter of time before they become a part of a well-diversified portfolio.

It’s only a matter of time before they become a part of a well-diversified portfolio. Contact Rob today for your free consultation.

June 6, 2017
8 Summer Travel Tips
Having touched foot on 5 of the 7 continents, I have learned a lot. With solid planning, I was able to do 3 weeks in Thailand, Myanmar, and Cambodia with 1 carry-on bag and 1 computer bag. My top travel tips are:
1. Call your credit card companies in advance: and tell them where you are going and what dates. I have had cards frozen because companies see a string of out of town charges and they think your cards were stolen.
2. Think in body sections when packing: I do this in the morning while getting work ready and start from feet to head. It can be stressful the last days before a trip so you don’t want to forget anything so do the same with the kids.
3. Pack a change of clothes in your carry-on bag: 29 million bags are lost/delayed each year. Be ready when it happens to you!
4. Buy a guide book if going overseas: Can’t stress this enough. Advanced research prevents issues which can ruin a trip. For example, my research told me that in Myanmar and Cambodia they accept US dollars however not with folds or wrinkles. I went to the bank in advance and withdrew $500 of new bills in 1’s, 5’s, 10’s and 20’s. I like “lonely planet” and “rough guides” the best. Look for the most recent edition.
1. Read negative reviews on hotels: I prefer trip advisor and Agoda for international travel.
2. If touring by car get a tune-up and GPS: Nothing worse than getting lost or having your car break down. GPS your destinations in advance for proper time planning.
3. Buy an off color suitcase: This way you can spot in from a long distance away.
4. Sign up for the TSA: The TSA pre-check can make the difference between missing and making a flight and decrease travel stress considerably.
June 1, 2017
Ten last minute Mother’s day gifts on a budget under $100

Ten last minute Mother’s day gifts on a budget under $100

Mothers usually appreciate the little things that are thoughtful and lasting so most of these ideas will have that theme and some are do-it-yourselfers.

1. The store “things remembered” will do custom engraving on short notice. They are located in most malls and their “custom couture jewelry” is drawing rave reviews.

2. Things Remembered will also do a custom “music box” so mom can think of you when she’s home doing chores listening to her favorite tunes.

3. Her favorite plant. Some folks will print out family pictures and wrap them around the plant pot so she can look at the family in addition to the plant.

4. A yoga mat and/or towel. For the yoga mom, these gifts are available and reasonably priced on amazon.com with overnight or 2-day shipping.

5. A VHS to DVD format converter is available new and used online at amazon.

6. A gift basket. This can be customized yourself and include some of your mom’s favorite oils, bath salts, perfume, a book, candles and a relaxing CD.

7. A family scrapbook or montage. This can also be framed and hung up. Mom’s love this stuff and appreciate the effort putting it together.

8. A certificate for a home cleaning. Give mom a day off and either hire somebody to clean the house or better yet do it yourself.

9. A dinner gift card. You can go to restaurant.com and get discounted gift cards either in general or to mom’s favorite restaurant for half price.

10. If you can’t afford the “day of beauty” a mani/Pedi gift card will go over very well as moms deserve to be spoiled.

11. Bonus belated gift idea. Mom’s usually have a special feeling for the grandchildren so get pictures of them put onto coffee mugs.

Cheers to my mom and all the fabulous moms out there that do so many things they don’t always get acknowledged for!!

May 9, 2017
6 London Attractions to See on a Budget

6 great attractions in London on a budget

After a ten day visit, I can say that London is a fantastic place to visit however it can burn a hole in your wallet or purse. Today’s exchange rate is about $1.50 US dollars for every 1 pound (Lb).

Check out these 6 FREE must see options below:

1. The British Museum: Ranked #15 of top 25 places to visit in the “world” in lonely planet’s august 2015 survey. It’s 1 of only 2 museums listed (the other is in Australia). This massive museum houses priceless artifacts from all 7 continents. It’s set up by country and subdivided by era. It’s also free! Was so nice I went twice. They suggest a 5-pound donation however not mandatory.

The Borough Market, London

2. Borough Market: A hidden gem located walking distance from London Bridge. Words don’t describe how interesting it is (see my FB pictures). Before 5 pm the market is loaded with tasty treats. Some of the best cheeses I’ve ever had. After 5 pm it’s filled with locals getting out of work.

3. Tate Modern Museum: an art gallery with pieces (Picasso’s and Warhol’s) mostly from 1900-present and is 1 of 4 Tate galleries in the UK. There’s a great balcony for pictures of the Thames river and St. Paul’s. It’s located a short walk over the millennium bridge across from St. Paul’s cathedral. It’s about 75% free as there’s one floor with current exhibits that they charge for. Also, check out the lounge area with couches the unique activities for the kids. They can draw and be creative and see their drawings projected onto the wall. A 4-pound donation suggested not mandatory.

4. Camden town: Reminds me of our Greenwich village in Manhattan. Cool hipster edgy area with interesting vintage clothing shopping and people watching. Go to their Camden market which used to be horse stables that were converted into many little unique booths. Great place to find the same goods as centre city London for less than half the price. For you shopaholics (you know who you are, lol) also visit Harrods department store. It takes Saks 5th avenue to a whole new level.

5. The National Gallery: This gallery has one of the best collections of paintings in the world. Read the captions as I was interested to see some of the pieces were given to the gallery in lieu of paying estate (inheritance) taxes. It’s located in Trafalgar square which is a really fun place to just walk around. The architecture is breathtaking!

6. London Rock Tour: This is a bonus tidbit although it’s not free. There are two different mini-bus tours 9-1 and 2-6 that cost about $50 each. They are run by a former band promoter named Bob. Go to Abbey road and abbey road studios. See Paul McCartney’s house, the Rolling Stones sticky fingers restaurant and get great stories of these British bands on their way up.

Contact Rob here for your free financial review today

April 26, 2017
5 Planning Issues for Same-Sex Couples
Five Planning Issues Same-Sex Couples Should Discuss

All couples in long-term relationships should discuss finances however gay and lesbian couples need to even more because of unclear and ever-changing rules.
1. What is our current situation? Partners need to get on the same page as to their debt, how much and to whom do they owe money. How much do you spend and how much do they save?
2. What does retirement look like? Both partners should go to socialsecurity.gov to see what type of benefits are available to them and based on ages when to elect income benefits to start.
3. Should we get married? This is a critical decision. First take a look at wages earned. If both are high wage earners then they would be paying more taxes by remaining unmarried. Also if one partner has a college-bound student remaining unmarried is the better choice as the FAFSA (Free Application for Federal Student Aid) would only include one person’s wages.
4. What happens to assets when we die? A will, power of attorney and health care proxy are recommended to give clear directives on the wishes of each partner. If unmarried with no will etc, the states laws of intestacy come into play and odds are a blood relative will inherit the estate.
5. What happens if we break up? Unmarried same-sex couples in it for the long haul may want to draft a cohabitation agreement. Divorce actually provides an orderly system with protections that unmarried same-sex couples cannot take advantage of.Contact Rob here today for a free financial consultation today
April 18, 2017
7 Smart Money Marriage Tips

You just got married, but you may not have realized that your money did as well. One of you is a spender and one is a saver! How in the world will you make it work? Especially now that many people are getting married in their 30’s and 40’s for the first time, what should you be doing money wise? Here are 7 tips on money strategies for your new marriage.

1. Create Separate Accounts And One Joint Account:

To mingle or not to mingle your money is one of the most important decisions the two of you need to make regarding your finances. Having your own money that you can spend however you want can lessen arguments about money. We disagree that having separate joint accounts lessens the sense of unity in marriage and shows a lack of trust in one another.

2. Track How You Are Spending Money:

Tracking your spending is not a way to point fingers at one another as to who is spending what. Tracking your spending is not having someone looking over your shoulder every time you buy something. Tracking your spending is critical to being financially secure. Unless you know where your money is going, it is impossible to set up a budget and set financial goals you are both comfortable with.

3. Discuss Finances Together On A Regular Basis:

Sure, talking about money isn’t easy because money can symbolize different things to each partner. One may view money as security and the other as power. If the topic of debt, bills, savings, and goals makes one or both of you uncomfortable or defensive, seek the help of a financial counselor or planner. It is important that both of you know where you stand financially and have common financial goals.

4. Save 10% of Your Income:

Couples living month-to-month often rationalize that they just don’t have enough money to save. Make the decision to save at least 10% of your income. After saving enough cash as an emergency fund, invest in a retirement account. The earlier the two of you start saving money for your retirement years, the easier it will be have a retirement lifestyle that you both hope for.

5. Handle Debt As A Couple:

Make a plan to pay off existing debt. Drawing a line in the sand and saying that your spouse’s debt isn’t your problem is not going to work because even if the debt existed before you married, your credit rating can be negatively impacted as well as the bottom line of how much money the two of you are paying monthly in interest charges.

6. Decide On The Bill Paying Strategy:

Maybe you had a house and your partner had one as well. You were both used to paying your own bills. Now that you are living together and your bills are combined, get clear as a couple on who will pay what bill and which bank account the money is going to come out of each month. This will absolutely
reduce friction in your relationship over time by having clear expectations.

7. Don’t Keep Big Financial Secrets:

Not being honest about the cost of large financial purchases or keeping debts hidden is considered financial infidelity by many people. Such secrets can destroy your marriage.

THE CONTENT IS DEVELOPED FROM SOURCES BELIEVED TO BE PROVIDING ACCURATE INFORMATION. THE INFORMATION IN THIS MATERIAL IS NOT INTENDED AS TAX OR LEGAL ADVICE. IT MAY NOT BE USED FOR THE PURPOSE OF AVOIDING ANY FEDERAL TAX PENALTIES. PLEASE CONSULT LEGAL OR TAX PROFESSIONALS FOR SPECIFIC INFORMATION REGARDING YOUR INDIVIDUAL SITUATION. THIS MATERIAL WAS DEVELOPED AND PRODUCED BY HELLO MY NAME IS, LLC TO PROVIDE INFORMATION ON A TOPIC THAT MAY BE ON INTEREST. THE OPINIONS EXPRESSED AND MATERIAL PROVIDED ARE FOR GENERAL INFORMATION, AND SHOULD NOT BE CONSIDERED A SOLICITATION FOR THE PURCHASE OR SALE OF ANY SECURITY. COPYRIGHT 2014 HELLO MY NAME IS, LLC

April 12, 2017
8 Fun facts about ML Baseball Spring Training
8 Fun facts about ML Baseball Spring Training

This week pitchers and catchers report for spring training. I get excited because the baseball season is beginning and winter is ending. These minor league stadiums are a lot of fun to visit. Enjoy these tidbits!
1. The Florida “Grapefruit league” and Arizona “Cactus league” are a 50/50 split which 15 teams training in each state.
2. Do you want a closer look at your favorite players than from your seat? Visit their spring training stadium where access rules are very lax.
3. George M. Steinbrenner field (Tampa) has the same outfield dimensions as Yankee stadium. It also sits directly across the street from Raymond James Stadium where the Tampa Bay Buccaneers play.
4. Surprise stadium (Royals and Rangers) in Arizona has a merry-go-round in the right field concourse.
5. The foul poles at Phoenix Municipal Stadium (Athletics) were originally used at the polo grounds.
6. Fans attending Blue Jay’s games in Dunedin, Florida get to hear both the Canadian and USA’s national anthems. They also have Labatt’s beer on tap at Florida auto exchange stadium.
7. Bright House Network field in Clearwater, Fla. Caters to Phillies fans serving Philly cheese steaks and Yuengling beer.
In 2017 the “Ballpark of Palm Beaches” (West Palm Beach, Fla.) will open and be the new home of the Houston Astros and Washington Nationals.
March 22, 2017
Tips on what to do with your Tax Refund
Other than folks who receive an annual bonus this is the only time of year when some people will receive a lump sum of money. Instead of squandering your money consider the following options:
- Add to your IRA: you can contribute up to $5,500/year to a traditional and/or Roth IRA or $6,500 if you are 50 or older by the end of 2014
- Pay off debt: If you are carrying more debt than you are comfortable with, consider paying it down. It’s like investing at the same interest rate being charged on the loan. Try to pay off your credit cards with the highest interest rate first.
- Top off your emergency fund: You should have 6 months salary liquid in case of an emergency. Keep the money in an interest earning account.
- Boost retirement savings: If you aren’t contributing enough to a company retirement plan to capture 100% of the company match, you are walking away from free money! Use the extra cash to increase your contribution.
- Keep the money in a side fund for college: Putting the money in a 529 plan decreases what your student can qualify for in endowment “Free money”.
- Prepay your summer vacation: Use some of the cash to pay off your vacation in advance so you don’t have to take it from your income in the summer.
Do yourself a favor by choosing one of these options instead of wondering where all the money went at this time next year! Contact Rob today for a free consultation on this and other concerns you have here.
March 9, 2017
10 Reasons to watch O.J.: Made in America

Tune in or set your DVRs for tomorrow’s airing!

The O.J. Simpson story hits close to home for me. I was offered and accepted a promotion in 1991-96 to be a sales manager for Prudential in Buffalo, N.Y. Leaving NYC one would think that Buffalo would be a slow-paced sleepy city in comparison. During my 5 years there the Buffalo Bills made it to 4 straight Super Bowls, O.J. Simpson captivated the nation in 1993-1994 and Buffalo native Timothy McVeigh bombed Oklahoma City.

Here are 10 interesting facts.

1. In addition to a huge sports figure, this is a documentary about Race and Social Justice in America.

2. The 7.5 hour 5-part Doc touches on O.J., the biggest trial of the century.

3. Being half African-American and half Jewish, Director Ezra Edelman is uniquely qualified to address the subject.

4. It’s being said this film is the most impactful and important film that ESPN has ever made.

5. The Documentary explores the Simpsons, Race and the Los Angeles troubled history like nothing before.

6. It’s being said that O.J. has the potential to affect the American conversation on Race in a way that few, if any films since “Roots”.

7. Having lived in Buffalo from 1991-96 and knowing Ezra, this documentary connects with me like none other.

8. Ezra is known for “Magic & Bird, A courtship of Rivals” in 2010 and “Brooklyn Dodgers: The Ghosts of Flatbush 2007

9. A very good hoop player with Curry-like range and a step back 3 point shot, Ezra is not afraid to “trash talk” to you and certainly me during our games togehter

10. He’s fun at cocktail parties!

March 3, 2017
7 Life Changes to Extend Your Life 10 Years
What if you could make some simple lifestyle changes that could result in major weight loss, lowering cholesterol and/or improving blood pressure readings all without medication or fad diets? Here’s how!
1. Drink Plenty of Water: Generally, adults should be consuming about 2-3 liters/day minimum to stay at peak mental and physical performance. Water keeps you hydrated, curbs your appetite and urges to overload on sugary soft and sports drinks.
2. Eat Nuts: People who eat about two ounces of tree nuts four to five times per week live 2-3 years longer than those that don’t.
3. Move Naturally: One of the harder steps to focus on if you are a 9-5 desk job person. Simple adjustments during the day like taking the stairs instead of an elevator every other trip or taking public transportation instead of driving promotes more walking during your day while saving on gas money and it’s helpful for the environment.
4. Go Green: Fill most of your plates with fruits and vegetables preferably organic. Most Americans consume too much meat which is harder to digest and increases cancer risk.
5. Eat until you are 80% full: If you are starting to feel full, stop eating. Over time your body will adjust to the smaller portions and you will no longer get those hunger feelings and cravings. Another strategy to help the process is to take a 5 minute break when half done eating and you will see that you no longer need to stuff your face until you are about to bust out of your pants!
6. Take part in Happy Hour: Moderate drinkers outlive non-drinkers and of course heavy drinkers. A glass of red wine with friends and/or food can help prolong your life.
7. Find a Healthy Social Circle: Research indicates that happiness and healthiness are contagious. It’s always good to have support from like-minded people. Tell folks about your new lifestyle plans and see what kind of support you get.
These simple lifestyle changes are not easy at first. Don’t think of it as a diet or temporary change. It’s a long-term lifestyle change! Watch the folks around you notice the difference and they will start asking you questions about how you did it.
January 31, 2017