Financial Planning: Everything You Need to Know About Your Money (Almost)

The guide to managing your finances, in good economies and bad.
(In a word, be patient.)


Published:

(page 4 of 5)

Frederick J. Dawson, ChFC, CLU
Vice president, Bassett, Brosius & Dawson


Known for his musical abilities and volunteerism, as well as his financial acumen, Dawson has appeared on CNBC’s “Money Talk” and the Financial News Network’s “Financing Your Future.” He’s also a frequent guest on radio shows. He’s received the Jefferson Award for Public Service and his band, Club Phred, Photograph by Pat Crowe IIhas raised about $875,000 for charities.

In these economic times: “Unless you need all your money right now—and most people don’t because they’ll need it 10, 20, 30 years from now—stay put. If you look at the markets over time, from ’29 to 2002, which was almost as ugly as it is now, they always come back. So maintain your investments in a high-quality, diversified portfolio that’s managed professionally.”

 

 

THE DELAWARE ADVANTAGE

Known for its corporate-friendly climate, Delaware is also a trust-friendly state. Delaware does not place time limits on a properly structured (or perpetual) trust. Assets transferred to an exempt dynasty trust will benefit descendants without incurring an additional gift tax, estate tax or generation-skipping transfer tax.

There is no state income tax on income accumulated in an irrevocable trust, provided no beneficiary is a Delaware resident. There’s also no state income tax on capital gains earned by that trust.

Delaware also does not tax trust income distributed to nonresident beneficiaries. (The income is subject to the laws of the beneficiary’s state of residence.) Nor does Delaware assess a tax on the value of public and private securities, bonds, units, copyrights or other intangible property held in a trust.
 

More Great Planners

R. Clifford Berg, CLU, ChFC, AEP
Vice President, Financial House


Active in the industry since 1974, Berg has served as president of the Delaware chapter of the Society of Financial Service Professionals and of the National Association of Insurance Financial Advisors on both the state and county levels. He’s a past president of the Estate Planning Council of Delaware and currently serves on the national executive committee of NAIFA. He’ll be the national president for the 2009-2010 term.

In these economic times: “Stick with your original game plan, unless your goals have changed, and communicate with your planner. If you don’t need the money for awhile, you shouldn’t be selling out now. The market will come back. To take a loss now makes absolutely no sense.”

Cynthia Hewitt, CIMA, CRPC
First Vice President, Investments and Wealth Advisor Global Wealth Management Group, Merrill Lynch


Listed among the top 20 female financial advisors in 2004 by Research Magazine, Hewitt was recently named one of “America’s best financial advisors” by R.J. Shook in his book “The Winner’s Circle.” For the past three years, she’s been listed on Barron’s Top List of Women Financial Advisors, and she is a founder of the Fund for Women in Delaware.

In these economic times: “Keep things in perspective, if possible. Despite the negative short-term developments, this too shall pass. Things happen. They’re scary. But they don’t last forever. Be alert to opportunities, if you’re in a position to do so.”

H. Murray Sawyer Jr., JD
President, Westover Capital Advisors, LLC


In October Sawyer was named by Worth magazine as one of the 250 top wealth advisors in the country. A practicing lawyer for 35 years, Sawyer managed the pension and profit-sharing funds for his own firm, where he spent some time as a trust and estate planner. He was so good at it, wealth management became his primary focus, thus Westover Capital Advisors was born in 2000. “I use the way you’re trained to think as a lawyer to better serve my clients.”
In these economic times: “Avoid volatile stocks and undue exposure to equity markets while they’re falling.” Consumer staples such as healthcare, utilities and food companies generally perform well, no matter what the economic climate. When the economy goes bad, cut back investments in risky stocks such as financial companies.

Sherman L. Townsend
Peni G. Warren
The Townsend-Warren Group, Merrill Lynch


As in real estate, many financial planners team up within companies. Together, Townsend and Warren offer a combined 60-plus years of service. Townsend, who started his financial services career in 1971, is one of the founding members of the Delaware Community Foundation. He’s been a University of Delaware trustee since 1988. Warren, who has 26 years of financial consulting experience, joined Merrill Lynch in 1982.

In these economic times: “The key thing is to maintain sufficient liquidity to meet your needs for the next 12 to 15 months,” Townsend says. “But if you are a true investor, there are a lot of new opportunities out there. You need to have a three- to five-year vision. There will be a change in the leading stocks. And there are lots of companies, despite the economy, that are still making money every day and paying dividends.”
 

Page 5: What's in a Name | Alphabet Soup

Edit ModuleShow Tags
Edit ModuleShow TagsEdit Module Edit ModuleShow Tags Edit ModuleShow Tags

February 2018

A winter warm up of colorful, vibrant paintings. Marlene Dubin - bold mixed media abstracts; Elaine Lisle - regional landscapes in oil; Mary Ann Weselyk – whimsical animals and still life...

Cost: free

Where:
The Station Gallery
3922 Kennett Pike
Greenville, DE  19807
View map »


Telephone: 302-654-8638
Website »

More information

This community-curated exhibition brings together three painters—Alan Soffer, Brian Dickerson, and Moe Brooker—who are attuned to harmonies and contrasts in abstract forms. Each artist...

Cost: Free with Museum admission

Where:
Delaware Art Museum
2301 Kentmere Parkway
Wilmington, DE  19806
View map »


Website »

More information

The Philly Home + Garden Show will return to the Greater Philadelphia Expo Center at Oaks February 16-18. The show will feature highly-interactive exhibits including a full scale model smart home,...

Cost: 10

Where:
Greater Philadelphia Expo Center
100 Station Ave
Oaks, PA  19456
View map »


Sponsor: MarketPlace Events
Contact Name:

More information

By Simon Stephens (playwright of "The Curious Incident of the Dog in the Night-Time") Directed by Matt Pfeiffer REGIONAL PREMIERE! Amidst the bustle of a crowded London train...

Cost: Varies

Where:
Delaware Theatre Company
200 Water Street
Wilmington, DE  19801
View map »

More information

The Rehoboth Beach Film Society in partnership with The Southern Delaware Alliance for Racial Justice are proud to present the inaugural Rehoboth Beach African-American Film Festival. The mission...

Cost: $10

Where:
Cinema Art Theater
17701 Dartmouth Drive, #2
Lewes, DE
View map »


Sponsor: Rehoboth Beach Film Society
Telephone: 302-645-9095
Contact Name: Jeri Kaplan
Website »

More information

"Choir Boy" presents a complex look at race and sexuality. Shows are at 8pm on February 16 and 17; there is a 2pm matinee on Sunday February 18. Buy tickets online at www.WilmingtonDramaLeague.org.

Cost: $10-$15

Where:
Wilmington Drama League
10 West Lea Blvd.
Wilmington, DE  19802
View map »


Sponsor: Wilmington Drama League
Telephone: 302-764-1172
Website »

More information

Show More...
Show Less...

"What the water said…Flowers, Places, & Faces," an exhibition of watercolor paintings by Hugh Phibbs, will be on view in the Mezzanine Gallery from February 2-23, 2018. A free...

Cost: Free

Where:
Mezzanine Gallery
Carvel State Office Building, 2nd Floor
820 N. French St.
Wilmington, DE  19801
View map »


Sponsor: Delaware Division of the Arts
Telephone: 302-577-8278
Contact Name: Roxanne Stanulis
Website »

More information

A winter warm up of colorful, vibrant paintings. Marlene Dubin - bold mixed media abstracts; Elaine Lisle - regional landscapes in oil; Mary Ann Weselyk – whimsical animals and still life...

Cost: free

Where:
The Station Gallery
3922 Kennett Pike
Greenville, DE  19807
View map »


Telephone: 302-654-8638
Website »

More information

By Simon Stephens (playwright of "The Curious Incident of the Dog in the Night-Time") Directed by Matt Pfeiffer REGIONAL PREMIERE! Amidst the bustle of a crowded London train...

Cost: Varies

Where:
Delaware Theatre Company
200 Water Street
Wilmington, DE  19801
View map »

More information

Tickets are $15 adults; $10 UD faculty/staff/alumni & seniors; $5 students. Tickets are available at the door. Cash or check only.

Cost: $15 adults; $10 UD faculty/staff/alumni & seniors; $5 students

Where:
Gore Recital Hall
110 Orchard Rd
Newark, DE  19716
View map »


Sponsor: University of Delaware Department of Music
Telephone: 130-283-12578
Contact Name: Megan Everhart
Website »

More information

Show More...
Show Less...

"What the water said…Flowers, Places, & Faces," an exhibition of watercolor paintings by Hugh Phibbs, will be on view in the Mezzanine Gallery from February 2-23, 2018. A free...

Cost: Free

Where:
Mezzanine Gallery
Carvel State Office Building, 2nd Floor
820 N. French St.
Wilmington, DE  19801
View map »


Sponsor: Delaware Division of the Arts
Telephone: 302-577-8278
Contact Name: Roxanne Stanulis
Website »

More information

A winter warm up of colorful, vibrant paintings. Marlene Dubin - bold mixed media abstracts; Elaine Lisle - regional landscapes in oil; Mary Ann Weselyk – whimsical animals and still life...

Cost: free

Where:
The Station Gallery
3922 Kennett Pike
Greenville, DE  19807
View map »


Telephone: 302-654-8638
Website »

More information

Nanticoke Memorial Hospital will host a four-session diabetes educational program, The Diabetes Connection, on February 6, 13, 20 and 27 from 9:30 am to 11:30 am. Pre-registration is required. As...

Cost: Call for cost.

Where:
Nanticoke Memorial Hospital
801 Middleford Road
Seaford, DE  19973
View map »


Telephone: 302-629-6611 x2288
Contact Name: Nanticoke's Diabetes Education Department
Website »

More information

By Simon Stephens (playwright of "The Curious Incident of the Dog in the Night-Time") Directed by Matt Pfeiffer REGIONAL PREMIERE! Amidst the bustle of a crowded London train...

Cost: Varies

Where:
Delaware Theatre Company
200 Water Street
Wilmington, DE  19801
View map »

More information

Show More...
Show Less...

"What the water said…Flowers, Places, & Faces," an exhibition of watercolor paintings by Hugh Phibbs, will be on view in the Mezzanine Gallery from February 2-23, 2018. A free...

Cost: Free

Where:
Mezzanine Gallery
Carvel State Office Building, 2nd Floor
820 N. French St.
Wilmington, DE  19801
View map »


Sponsor: Delaware Division of the Arts
Telephone: 302-577-8278
Contact Name: Roxanne Stanulis
Website »

More information

A winter warm up of colorful, vibrant paintings. Marlene Dubin - bold mixed media abstracts; Elaine Lisle - regional landscapes in oil; Mary Ann Weselyk – whimsical animals and still life...

Cost: free

Where:
The Station Gallery
3922 Kennett Pike
Greenville, DE  19807
View map »


Telephone: 302-654-8638
Website »

More information

This community-curated exhibition brings together three painters—Alan Soffer, Brian Dickerson, and Moe Brooker—who are attuned to harmonies and contrasts in abstract forms. Each artist...

Cost: Free with Museum admission

Where:
Delaware Art Museum
2301 Kentmere Parkway
Wilmington, DE  19806
View map »


Website »

More information

FREE COMMUNITY EVENT: MID-WEEK WORD REFRESHER Come join us at the Mid-Week Word Refresher every Wednesday at Faith Victory Christian Center from 11:00am - 12:00pm. Refreshments will be...

Cost: FREE

Where:
Faith Victory Christian Center
301 Commonwealth Avenue
Claymont, DE  19703
View map »


Sponsor: Faith Victory Christian Center
Telephone: 302.354.6726
Contact Name: Alvin Walker
Website »

More information

By Simon Stephens (playwright of "The Curious Incident of the Dog in the Night-Time") Directed by Matt Pfeiffer REGIONAL PREMIERE! Amidst the bustle of a crowded London train...

Cost: Varies

Where:
Delaware Theatre Company
200 Water Street
Wilmington, DE  19801
View map »

More information

Join DCH, New Castle Conservation District staff, and Delaware Cooperative Extension to grow and learn together through an entire season! Classes are designed for a beginner, but seasoned gardeners...

Cost: $20 members; $30 non-members

Where:
Delaware Center for Horticulture
1810 N. Dupont Street
Wilmington, DE  19806
View map »


Sponsor: Delaware Center for Horticulture
Telephone: (302) 658-6262
Contact Name: Ruth Arias
Website »

More information

Clearing the mind and learning to think not thinking is Zen awareness. Taking the appropriate action in this moment is Zen. Once you know this in your body, walking, standing, sitting down,...

Cost: Free

Where:
Unitarian Universalist Fellowship of Newark
420 Willa Road
Newark, DE  19711
View map »


Sponsor: UUFN
Telephone: 302.368.2984
Contact Name: Richard Field
Website »

More information

Show More...
Show Less...

"What the water said…Flowers, Places, & Faces," an exhibition of watercolor paintings by Hugh Phibbs, will be on view in the Mezzanine Gallery from February 2-23, 2018. A free...

Cost: Free

Where:
Mezzanine Gallery
Carvel State Office Building, 2nd Floor
820 N. French St.
Wilmington, DE  19801
View map »


Sponsor: Delaware Division of the Arts
Telephone: 302-577-8278
Contact Name: Roxanne Stanulis
Website »

More information

A winter warm up of colorful, vibrant paintings. Marlene Dubin - bold mixed media abstracts; Elaine Lisle - regional landscapes in oil; Mary Ann Weselyk – whimsical animals and still life...

Cost: free

Where:
The Station Gallery
3922 Kennett Pike
Greenville, DE  19807
View map »


Telephone: 302-654-8638
Website »

More information

This community-curated exhibition brings together three painters—Alan Soffer, Brian Dickerson, and Moe Brooker—who are attuned to harmonies and contrasts in abstract forms. Each artist...

Cost: Free with Museum admission

Where:
Delaware Art Museum
2301 Kentmere Parkway
Wilmington, DE  19806
View map »


Website »

More information

By Simon Stephens (playwright of "The Curious Incident of the Dog in the Night-Time") Directed by Matt Pfeiffer REGIONAL PREMIERE! Amidst the bustle of a crowded London train...

Cost: Varies

Where:
Delaware Theatre Company
200 Water Street
Wilmington, DE  19801
View map »

More information

This community event invites attendees to sample healthy dishes prepared by local restaurants and vote for the most creative, tastiest, and best preparation. The first 200 registrants may also sign...

Where:
STAR Health Sciences Complex
540 S. College Ave
Newark, DE  19713
View map »


Website »

More information

Explore connections between people and plants in these four inspiring presentations. Special thanks to Whole Foods Market for sponsoring this  year’s refreshments. Individual lecture pricing:...

Cost: $20 members; $30 non-members

Where:
Delaware Center for Horticulture
1810 N. Dupont Street
Wilmington, DE  19806
View map »


Sponsor: Delaware Center for Horticulture
Telephone: (302) 658-6262
Contact Name: Mackenzie Knight-Fochs
Website »

More information

Tickets are $15 adults; $10 UD faculty/staff/alumni & seniors; $5 students. Tickets are available at the door. Cash or check only.

Cost: $15 adults; $10 UD faculty/staff/alumni & seniors; $5 students

Where:
Gore Recital Hall
110 Orchard Rd
Newark, DE  19716
View map »


Sponsor: University of Delaware Department of Music
Telephone: 130-283-12578
Contact Name: Megan Everhart
Website »

More information

Show More...
Show Less...

"What the water said…Flowers, Places, & Faces," an exhibition of watercolor paintings by Hugh Phibbs, will be on view in the Mezzanine Gallery from February 2-23, 2018. A free...

Cost: Free

Where:
Mezzanine Gallery
Carvel State Office Building, 2nd Floor
820 N. French St.
Wilmington, DE  19801
View map »


Sponsor: Delaware Division of the Arts
Telephone: 302-577-8278
Contact Name: Roxanne Stanulis
Website »

More information

A winter warm up of colorful, vibrant paintings. Marlene Dubin - bold mixed media abstracts; Elaine Lisle - regional landscapes in oil; Mary Ann Weselyk – whimsical animals and still life...

Cost: free

Where:
The Station Gallery
3922 Kennett Pike
Greenville, DE  19807
View map »


Telephone: 302-654-8638
Website »

More information

The area’s largest sale of gently used books has been scheduled by the Wilmington branch of the American Association of University Women. The 49th annual Dollars for Scholars Used Book Sale, to...

Cost: free

Where:
Concord Mall
4737 Concord Pike
North Wilmington, DE  19803
View map »


Sponsor: American Association of University Women
Telephone: 302-428-0939

More information

This community-curated exhibition brings together three painters—Alan Soffer, Brian Dickerson, and Moe Brooker—who are attuned to harmonies and contrasts in abstract forms. Each artist...

Cost: Free with Museum admission

Where:
Delaware Art Museum
2301 Kentmere Parkway
Wilmington, DE  19806
View map »


Website »

More information

Glory of Stories introduces young visitors to art and the Museum through a story reading followed by an interactive tour of relevant works of art and a studio art project. This program encourages...

Cost: Free to Members, $5 per child and one adult free for Non-Members

Where:
Delaware Art Museum
2301 Kentmere Parkway
Wilmington, DE  19806
View map »

More information

By Simon Stephens (playwright of "The Curious Incident of the Dog in the Night-Time") Directed by Matt Pfeiffer REGIONAL PREMIERE! Amidst the bustle of a crowded London train...

Cost: Varies

Where:
Delaware Theatre Company
200 Water Street
Wilmington, DE  19801
View map »

More information

Meeting every Friday, Bayhealth Kent General Hospital, 640 s. State Street, Dover, 7:30 pm., Private Dining Room #3 in the basement. For those who have, or think they may have a gambling problem....

Cost: 0.00

Where:
Bayhealth Kent General Hospital
640 S. State Street
Private Dining Room #3
Dover, DE  19901
View map »


Telephone: 800-855-2CALLGA
Website »

More information

Show More...
Show Less...

A winter warm up of colorful, vibrant paintings. Marlene Dubin - bold mixed media abstracts; Elaine Lisle - regional landscapes in oil; Mary Ann Weselyk – whimsical animals and still life...

Cost: free

Where:
The Station Gallery
3922 Kennett Pike
Greenville, DE  19807
View map »


Telephone: 302-654-8638
Website »

More information

The area’s largest sale of gently used books has been scheduled by the Wilmington branch of the American Association of University Women. The 49th annual Dollars for Scholars Used Book Sale, to...

Cost: free

Where:
Concord Mall
4737 Concord Pike
North Wilmington, DE  19803
View map »


Sponsor: American Association of University Women
Telephone: 302-428-0939

More information

This community-curated exhibition brings together three painters—Alan Soffer, Brian Dickerson, and Moe Brooker—who are attuned to harmonies and contrasts in abstract forms. Each artist...

Cost: Free with Museum admission

Where:
Delaware Art Museum
2301 Kentmere Parkway
Wilmington, DE  19806
View map »


Website »

More information

Ronald Barron was principal trombonist of the Boston Symphony Orchestra from 1975 until 2008. He joined the orchestra in 1970 after being a member of the Montreal Symphony Orchestra, and also...

Cost: Free

Where:
Gore Recital Hall
110 Orchard Rd
Newark, DE  19716
View map »


Sponsor: University of Delaware Department of Music
Telephone: 130-283-12578
Contact Name: Megan Everhart
Website »

More information

Celebrate the 12th Annual Chinese New Year at the Delaware Art Museum! This celebration includes traditional Chinese art activities, artist demonstrations, a lion and folk dance, a Chinese yo-yo...

Cost: Free; donations accepted

Where:
Delaware Art Museum
2301 Kentmere Parkway
Wilmington, DE  19806
View map »


Website »

More information

By Simon Stephens (playwright of "The Curious Incident of the Dog in the Night-Time") Directed by Matt Pfeiffer REGIONAL PREMIERE! Amidst the bustle of a crowded London train...

Cost: Varies

Where:
Delaware Theatre Company
200 Water Street
Wilmington, DE  19801
View map »

More information

For this Saturday’s activity, visitors will have fun with fluid dynamics and hydraulics - Pascal would be proud! Visitors of all ages are invited to discover solutions to science and engineering...

Cost: Free with admission; Adults: $14, Children 6-14: $5, Children 5 and under: Free

Where:
Hagley Museum and Library
200 Hagley Creek Road
Wilmington, DE  19807
View map »


Telephone: 302-658-2400
Website »

More information

Lights of Life Goes Disco Nights is Delaware’s premier breast cancer fundraiser to benefit the local programs and services of the Delaware Breast Cancer Coalition. Join us for a glamorous, fun...

Cost: *VIP $125.00; *Silver Mirror Ball $50.00

Where:
Dover Downs Hotel
, 1131 North Dupont Highway
Dover, DE  19901
View map »


Sponsor: Delaware Breast Cancer Coalition
Telephone: 302-778-1102
Contact Name: Eliza Mohler
Website »

More information

The Newark Symphony Chamber Orchestra presents a performance of Johann Baptist George Neruda, Trumpet Concerto in E flat, with Wendell Banyay, Trumpet.  Also to be featured will be Gabriel Faure,...

Cost: 0 - $20

Where:
Newark United Methodist Church
69 E. Main St.
Newark, DE  19711
View map »

More information

Show More...
Show Less...
Edit Module