Finances Benefit From Spring Cleaning Too

Spring cleaning isn’t just for your closets. Plus, with the gift of a tax deadline extension you have even more time to refresh other aspects of your financial wellness that may need some refreshing.

Like much of the know-it is-goodfor-us stuff we put off, this is important and if not done sooner will still be needed somewhere down the road.

(And yes, Dr. Evans (my dentist), I know that I’m overdue for a cleaning.) There won’t be the instant gratification of a tax refund, or even a sparkling smile, but consider how the money that you’ve worked so hard for and stashed away is supposed to finance your dreams.

Investments that don’t align with your goals may not move you closer to them. Or they may slow your progress versus what you could achieve with the right portfolio mix. Isn’t getting what you really want in life worth an hour or so of your time to do a little portfolio tidying up?

If yes, then ask yourself these questions:

Am I on track?

Have your goals changed from the last time you reviewed your portfolio? Marriage, divorce, birth, and death—not to mention changing careers, moving, health issues, or any number of other factors—can have a profound impact on what you want or need your money to do.

Determine the purpose of each investment, be it retirement, vacations, household expenses, or a condo in the desert. Is what you own still relevant, still moving you toward your goals? Are you putting the right amounts in the right accounts?

Remember to also bear in mind your timeframe for achieving each dream. Look to see if your mix of assets is right for you today. Did you spend all of 2022 on pins and needles as the market vacillated? Confirm you have a diverse choice of investment vehicles, such as bonds that are positioned to perform well in bear markets and stocks that may soar when things turn bullish. You want to be prepared for when the market is up or down.

Is my investment strategy tax efficient?

Being tax smart can keep Uncle Sam from dipping deeper into your pocket. A combination of tax-advantaged investments (e.g., Roth and Traditional 401(k)s and IRAs), taxefficient investments (e.g., index mutual funds and ETFs), tax-exempt bonds (e.g., municipal and U.S. Savings bonds), and taxable accounts

The key is to ensure that the elderly individual’s wishes and preferences are taken into account, and that their care and support needs are met in a way that is compassionate, respectful, and dignified. By engaging in elder care planning, families can help to ensure that their loved ones receive the care and support they need to live out their later years with dignity and quality of life.

Why do I need to know about elder care, and what do I need to know about it?

Elder care planning refers to the process of preparing for the care and support needs of elderly individuals as they age, especially in their later years. The goal of elder care planning is to ensure that the individual receives appropriate care and support, which includes physical, emotional, and financial support.

Elder care planning typically involves discussions with family members, healthcare professionals, financial advisors, and legal professionals. It may include creating a care plan that addresses the individual’s healthcare needs, such as medical treatment and assistance with daily living activities. It may also involve planning for financial matters, such as long-term care insurance, estate planning, and managing retirement funds.

There are several reasons why it’s important to know about elder care, even if you’re not an elderly person yourself. The following are just some of the reasons.

• You may have elderly relatives, friends, or neighbors who need your support and care, and having knowledge about elder care, or knowing the resources available, can help you provide them with the assistance they need.

• You may need to plan for your own future care and support needs, and understanding elder care can help you prepare for this.

• As the population continues to age, elder care is becoming an increasingly important issue for society as a whole. Having knowledge about elder care can help you become a more informed citizen and advocate for policies and programs that support the elderly population, which will include yourself.

Some of the key things you may need to know about elder care include: give you great flexibility in when you pay taxes and how much you pay. There are also strategies, such as taxloss harvesting that uses gains to offset losses, which can reduce your tax burden.

If you’re at that stage of life where you’re drawing down on your savings, set up a tax-savvy withdrawal strategy. This could mean depleting taxable accounts first, then tax-deferred accounts, and finally tax-free investments, such as Roth IRAs.

Do I have adequate protection?

No, this is not about condoms or PrEP. It’s about making sure unforeseen circumstances don’t ruin everything you’ve been working for.

If you still have many years left to work and couldn’t get by without your salary, disability insurance might be very important. Or maybe you’re financially independent and don’t need this coverage any more.

Has your family grown? You might need more (or some) life insurance, or if you’re older, you may not need any or as much coverage. That money may be better spent on a health or long-term care policy. Here again, it’s critical to consider your current goals and timeframes when reviewing your safeguards.

Tax and estate laws are always changing, as are your assets and the people you want to protect. Make sure your will, healthcare proxy, power of attorney, living trust, and other documents still reflect your wishes.

And by all means, update your beneficiaries for all official documents and investment accounts. I can’t tell you how many clients I’ve saved from leaving their retirement accounts, homes, and more to an ex they haven’t spoken to in years.

This spring, make a date with yourself to clean up your portfolio. Toss any investments that no longer suit your goals and find new ones that are a better fit for who you are today and where you want to go tomorrow. If you find you have set aside enough from those closets and garages to donate charitably, well, that’s a bonus for all!

Or just hire a financial professional to do it all for you. Your future self will thank you.

Brio does not provide tax or legal advice, and nothing contained in these materials should be taken as such. The opinions expressed in this article are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.

Brio Financial Group is a registered investment adviser. SEC Registration does not constitute an endorsement of Brio by the SEC nor does it indicate that Brio has attained a particular level of skill or ability. Advisory services are only offered to clients or prospective clients where Brio Financial Group and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Brio Financial Group unless a client service agreement is in place.

Brandon Miller, CFP®, is a financial consultant at Brio Financial Group in San Francisco, specializing in helping LGBT individuals and families plan and achieve their financial goals.

• The different types of care available for the elderly, including inhome care, assisted living facilities, and nursing homes. We find that planning ahead provides clients with more options, protects more of their wealth, and offers more opportunities to stay home longer.

The costs associated with elder care, including healthcare costs, long-term care insurance, and other expenses. Planning ahead can significantly reduce the loss of assets, especially if you used asset protection trusts or well-thoughtout planning strategies.

• The legal and financial aspects, risks, and opportunities of elder care, such as estate planning, guardianship, and power of attorney.

How to communicate effectively with elderly individuals, including those with physical or cognitive impairments.

• How to recognize signs of abuse or neglect in elderly individuals and how to report such incidents.

Overall, understanding elder care can help you better support the elderly individuals in your life, plan for your own future, and advocate for policies and programs that benefit the elderly population.

What documents are needed for elder care?

The specific documents needed for elder care may vary depending on the individual’s situation, but here are some common documents that may be required: medical records - These documents may include information about the individual’s medical history, medications, allergies, and any chronic health conditions. They may also include information about recent hospitalizations, surgeries, or treatments. advance directives and power of attorney - These documents include a living will, a financial power of attorney, and a healthcare power of attorney, which allows the individual to express their wishes legally regarding medical treatment and appoint trusted individuals to make healthcare and financial decisions on their behalf if they are unable to do so. financial documents - These may include documents related to income, assets, and debts, such as tax returns, bank statements, investment account statements, and credit card statements. insurance policies - These may include health insurance policies, long-term care insurance policies, and life insurance policies. estate planning legal documentsThese may include a last will and testament and a revocable or asset protection trust. personal identification documentsThese may include a driver’s license, passport, or other government-issued identification. care plans - These documents outline the specific care needs of the individual and any assistance they require with daily living activities.

It’s important to work with an experienced estate and elder law attorney and a financial advisor who specializes in elder care planning to ensure that all necessary documents and planning are in place and that they are legally valid and up-to-date.

What is the most important thing about elder care?

The most important thing about elder care is ensuring that elderly individuals receive the care and support they need to maintain their physical, emotional, and social well-being. Elder care should be centered around the individual’s unique needs, preferences, and goals, and it should be provided in a way that promotes dignity, respect, and autonomy.

This may involve addressing a wide range of issues, such as healthcare needs, socialization, financial planning, housing, and legal matters.

Effective elder care should involve a team of professionals, including healthcare providers, caregivers, social workers, financial advisors, and legal experts, working together to ensure that the individual’s needs are met in a coordinated and comprehensive way.

Ultimately, the goal of elder care should be to enhance the quality of life for elderly individuals and to support them in living as independently and as comfortably as possible. By focusing on the needs and wishes of elderly individuals, we can ensure that they are able to age with dignity,

The GGBA’s ongoing Make Contact series is one of the most successful Bay Area LGBTQ networking events, and is now well into its fourth decade. The events provide an opportunity to meet likeminded small business owners, build your supplier diversity pipeline, and to build community.

The events often highlight a particular industry. Past Make Contacts, for example, have spotlighted real estate, hospitality, construction, financial services, HR/ERG/ health services, business services, marketing, and more.

Added features may include member roundtables, observation of important local events, and new member orientations.

Now that the events are held in person again, following the end of COVID-19 pandemic restrictions, they take place in particular host company sites. On April 11, for example, The Body Gods in Potrero Hill hosted the Make Contact. This trusted platform for health & fitness pros provided a warm and welcoming space to gather.

Annually, the GGBA hosts a Mega Make Contact. This year’s event, on May 9 from

GGBA officers, board members, and honorees along with special guest San Francisco Attorney General Brooke Jenkins and officers of the Hispanic Chamber of Commerce of San Francisco who co-hosted the Make Contact event held on Tuesday, March 14, at Arepas Latin Cuisine with sponsorship from Redwood Credit Union

6 pm–8 pm, will coincide with Small Business Week. Additional information will soon be announced about this event, but in the meantime, be sure to save the date. Whether you are looking to promote your business, connect with likeminded other professionals, meet new allies and members of the LGBTQ community, or to achieve other goals, the Mega Make Contact and all of the Make Contact events are always worthwhile.

For a listing of upcoming GGBA events, including those in the Make Contact series, see the calendar on this page as well as https://tinyurl.com/jju4ztwm

Misha Safran is a trilingual ICF (International Coaching Federation)

Professional Certified Coach, international speaker, and award-winning leadership trainer with a combined professional experience of more than 35 years. She is the founder of The Center for Empathy and Emotional Intelligence, LLC (CEEQ).

GGBA: We are intrigued to learn about your nonprofit, CEEQ. Please tell us about its mission, goals, and values.

Misha Safran: CEEQ supports organizations to develop sustainable inclusivity, cohesion, and play in the workplace centering empathy and emotional intelligence by providing leadership and development trainings, individual and team coaching, and motivational speaking. CEEQ’s work is centered on the foundation of Compassionate Communication, Principles for Inclusion, Diversity, Equity, Accessibility, and Belonging (IDEAB), as well as Assuming Positive Intent. CEEQ’s mission is to improve open dialogue between team members, regardless of hierarchy, a sense of belonging as a valuable contributor for each individual, and a deeper understanding of how empathy and emotional intelligence play a role in creating positive and joyful spaces in which to live and work.

As founder of CEEQ, I absolutely love working with leaders who strive for culture change in their workplace. In order for staff to feel autonomous, productive, and supported, they need leaders who are willing to be part of the change. Being part of the change means taking an active role in the process. This means that leaders must model the change they want to see. And in doing this, leaders create a culture of empathy and belonging instead of one based on blame and shame. I empower my clients to build the necessary skills for culture change by—but not limited to—developing sustainable and healthy relationships, integrating play into the workday, and navigating compassionate communication, thus reducing staff attrition, increasing job satisfaction, and increasing productivity.

GGBA: Who are some of your role models, and especially those who helped to influence CEEQ?

Misha Safran: There have been a lot of influences and people who have inspired me to build my business. As I am a lifelong learner, I believe that everyone who

Tuesday, April 25

GGBA April Board of Directors Meeting

Virtual via Zoom 5:30 pm–7:30 pm https://tinyurl.com/376ekkex

Once a month, these fearless volunteers, aka the Board of Directors, come together as one unit to continue GGBA’s mission to serve the LGBTQ+ Small Business Community of the San Francisco Bay Area.

Thursday, April 27 A Second Opinion Matters: Another Look at the Employee Retention Tax Credit Virtual via Zoom

5 pm

Take advantage of this free webinar, presented by GGBA member and partner, Sequoia Lending, sponsored in partnership with PG&E. It could mean money in the bank for your business!

Many business owners have probably heard that they don’t qualify for the Employee Retention Tax Credit. That is not necessarily true. Learn how getting a second opinion at qualifying for the Employee Retention Tax Credit could put money back into your pocket. https://tinyurl.com/y66u7xdp

Tuesday, May 9 GGBA Mega Make Contact 6 pm–8 pm has come into my life is a teacher from whom I can learn—whether it be learning to do something or learning not to do something. I definitely want to highlight my colleagues Priya Jindal and Nkanta Hines for pointing out my strengths in the areas of empathy and emotional intelligence when we were facilitating IDEA workshops together for the National Institute for Health (NIH). They both inspired me to create CEEQ.

My relationship with my partner, Jodi Lewis, has also been one from which inspiration arises often. We are really good at centering empathy and emotional intelligence, assuming positive intent, and creating safe space for each of us to share uncomfortable feelings. This not only provides more opportunity for a fabulous relationship but also demonstrates that I walk what I talk and I am very proud of this.

It is also important for me to recognize the perseverance and strength of those marginalized and underserved. I have learned through dialogue and observation the importance of sitting in the uncomfortable; and that we must acknowledge that, for many, this is not a choice because they live in the uncomfortable most minutes of their day.

As a result of personal experiences with medical institutions, law enforcement, and academic institutions, I have felt and witnessed the impact when empathy and emotional intelligence are lacking. Thus, I feel guided to bring clarity, understanding, and support to these institutions’ leaders. They are CEEQ’s ideal clients.

GGBA: Why did you decide to join the GGBA, and how long have you been a member?

Misha Safran: As a member of the LGBTQIA+ community, I was seeking a business community that valued and honored me as a human. I happened to notice that a colleague of mine had an email signature with NGLCC (National LGBT Chamber of Commerce). I had never heard of NGLCC and was delighted to learn that it was a large and impactful LGBT chamber of commerce. To then also discover that there were local chapters was delicious! So, my decision to join GGBA was to have a local community that would be excited about me and for whom I could be excited about as well. So far, it has met all of my expectations, including helping me to become LGBTBE certified.

I have been a member since December 2022.

GGBA: Although that is less than a year, has being a member of the GGBA already helped your business?

Misha Safran: So far, I have had the opportunity to meet friendly and supportive people. I have especially enjoyed my interactions with staff. The GGBA also helped me obtain my LGBTBE certification and I was delighted to be recommended for this spotlight.

GGBA: Have you been to one or more of the GGBA monthly Make Contact networking events? If so, have they benefited you and your business, and would you recommend them to others?

Misha Safran: At this point I have only been able to attend one networking event where I was able to enjoy meeting people in person. It is not always easy to be boldly visible so I have to push myself to get out there and say hello, say who I am, and learn about other people and what they do. I also recently had a pretty major shoulder surgery, so with that in mind, I give myself grace. I highly recommend attending these events. I hope that I will be able to attend more as I maneuver my shoulder surgery recovery. To date, CEEQ has not yet felt a fiscal impact of being a GGBA member, but I am still very new and know that a large part of networking is truly on the business owner not on GGBA, so I also need to be more proactive. It is important to know that building a business can feel slow, but I have no doubt that being a member will help heighten my visibility and success. Consistency is key! Showing up is vital.

GGBA: What advice would you give to someone who is thinking of starting their own business?

Misha Safran: This is a tough question with potential for a lot of different answers.

Save the date! Details to be announced soon. https://tinyurl.com/2p8ypwwd

Thursday, May 18; Thursday, August 24; Thursday, November 9

Chase for Business Presents: LGBTQ+ Business Certification & Readiness Series

Please join Chase for Business’ free series in partnership with the Golden Gate Business Association. Together, we will deliver curated business readiness courses quarterly to help LGBTQ+ businesses grow and scale. They will be presented at different locations around the Bay Area. Register for one or two or all of them!

They will be hybrid events. Register for the Remote option of the session(s) you want to attend. You will be emailed the remote access link before the day of the course.

May 18 (San Francisco) The Power of Capital

August 24 (Palo Alto) Navigating Your Cashflow

November 9 (Oakland) Cyber Security https://tinyurl.com/yp8f7ecj

My advice will not work for everyone; and so rather than give advice I would like to give encouragement: If you know that this is something you want to do, are willing to do the work, and call upon others to be with you on this journey, then find ways to enjoy the process instead of letting it get you down. I love what I do and I am glad that I am where I am. However, I will not sugarcoat things by telling you that it was and is super easy. It takes time, commitment, and a willingness to ask for help. If you are passionate about starting your business and are willing to ask for the support you need, then go for it! And don’t forget to play along the way. Create your freedom calendar so you know that you have time for work and play!! I guess I just gave you advice, didn’t I? Ha!

GGBA: Is there anything else that you would like to share?

Misha Safran: Yes, please! I think it’s important to mention that building my business has also allowed me time to engage my creative side. In addition to what I love creating for my clients, I am also a singer and songwriter and now, a published author! That’s right! I just published a book and I want everyone to know about it because I’m so proud of myself. There will be another one coming out soon focused on leaders. This one is called A Teacher’s Companion: How to Center Empathy & Emotional Well-Being for Yourself and Your

(continued on page 22)

The GGBA page is proudly sponsored by AMSI Real Estate Services