Winter 2017 • Vol 23, No. 4

After every Presidential election, readers send us questions asking how the election results will impact them – particularly in the area of taxes. Our answer invariably is that it is too early to tell. While campaign promises often lead to changes, neither promises nor election results alone automatically change the laws of the land.

Changing any Federal law, including a tax law, requires that both the United States Senate and the U.S. House of Representatives agree upon and pass the identical provisions. Then (in nearly all instances) the President must sign the Bill before it can become effective.

Even when an incoming President and a majority of both the Senate and House are of the same political party, there are often differences in approach, policy or procedure to resolve. While everyone may agree as to the objective, the devil is often in the details; and all politicians want to avoid unintended consequences.

Nearly all new legislation operates going forward. This means that while tax rates for future years may change or be repealed, it is highly unlikely that any new laws will impact what you will owe on the tax return that you file this coming April for your income in 2016.

Tax advisors generally recommend accelerating deductions and deferring income, when possible. We urge readers to quickly speak to their own accountants to get personal advice as to any different actions that might be prudent for the 2016 calendar year. Ask, for example, if it happens that income tax rates for 2017 are reduced, would the tax dollars you save be greater if you were to make a charitable gift in 2016 rather than in 2017? Similarly, ask if you can contribute to an IRA for 2016, as the deadline to do so is April 17, 2017 in most states.

If you’re planning to sell appreciated property soon, ask if it might be beneficial for tax purposes if you were to wait until 2017 to do so based on the assumption that tax rates will be lower. Obtaining advice from a knowledgeable and trusted professional is always a good idea because future changes to the tax code are not known at this time.

Well, we’ve made it through another year. Congratulations and happy New Year to all, from the Voya Financial Lifeline Team.

It’s that time of year that everyone is looking forward to. No, not college football bowl season and shoveling snow. It’s that time of year when we make promises to ourselves and others that we probably won’t keep. But this year can be an exception. Here are three tips to help achieve your goals in 2017: • Do it for yourself, not for someone else. You’re more likely to achieve your goal if you are internally motivated. • Be realistic about your resolutions. Setting the bar too high could be a detriment to your continuing efforts. • Sometimes having a companion is helpful. Achieving goals alone is difficult. Group resolutions tend to work because

they are supportive and foster accountability.

If all else fails, just do what I do and make them up as you go. As for the Voya Financial Lifeline Team, our resolution is always the same - continue to deliver a program and services that you can trust. We want to be with you as you strive to attain your goals. Best wishes for a happy and healthy 2017.

Matthew D. Lynch, Product Manager Voya Financial Lifeline, Phone: 866-906-1362 option #2, Email: FinancialLifeline@voya.com, http://financiallifeline.voya.com

Voya Life Matters2 Making an impact with a donation2 TSA PreCheck speeds wait time3 Lessons from Lin-Manuel Miranda,

writer of Hamilton4 Videocapture your family’s story

SM

What’s happening with my taxes?

Now that winter’s longer nights are upon us, many people pass the time watching television. But if you’re looking for a change of pace and want to potentially improve your mind, consider playing cards or board games such as backgammon, checkers or chess.

It is widely believed that keeping one’s mind sharp through mental challenges can help sustain a healthy lifestyle. Many people – especially seniors – do crossword and Sudoku puzzles and play computer memory games as workouts for their brains. Warren Buffet and Bill Gates are avid contract bridge players. Experts have found that one can further expand the cognitive benefits when playing competitive games with others because social engagement improves brain function.

You don’t have to be a chess Grandmaster or a bridge champion to reap the cognitive benefits of

playing competitive games. In 2014, University of Wisconsin-Madison studied older adults who were at risk of Alzheimer’s due to their family history. The results found that those who played games requiring the use of memory at least every other day did better on standard memory tests and showed “higher brain volume” when compared to those who didn’t participate in games regularly.

If your friends don’t share your interest, you can seek out opponents through local clubs, community centers, libraries or places of worship. There are also online resources such as ChessClub.com with more than 30,000 participants, and 100,000+ people per day log onto BridgeBase.com.

Games of skill can challenge the mind and boost brainpower. So turn off the TV and play poker or chess with friends or challenge the grandkids to a game of Scrabble.

Making an impact with a donation TSA PreCheck speeds wait timeAnyone who experienced long lines at airport security knows how frustrating it can be. The Transportation Safety Administration (TSA) offers travelers the option to go through an expedited security line while wearing shoes, a belt and a light jacket. This program is called TSA PreCheck and the TSA claims that 97% of travelers using the service waited less than five minutes at security in October 2016. Holiday wait times are typically longer.

Most U.S. citizens and permanent residents age 13 and over are eligible to apply. Approval will mean that you are considered a low-risk traveler and are eligible to enter the fast security line at the airport. You have to give your airline carrier your Known Traveler Number assigned by the TSA when you book your flight. Children 12 and under can join you in the line. Nineteen airlines now participate in the program at 120 U.S. airports.

To apply for TSA PreCheck you must submit an online application and schedule an in-person appointment at an enrollment center. You will have a 10 minute background check and be photographed and fingerprinted. The fee is $85 for a five year membership.

For $15 more, you can enroll in the Global Entry program that enables you to zip through the immigration lines at airports and land borders when returning from interational travel. For a comparison of PreCheck, Global Entry and other programs offered by the Department of Homeland Security, go to www.dhs.gov/trusted-traveler-comparison-chart

Boost brainpower by playing board games

When writing a check to a charitable organization, it’s not just how much you give, but where the money actually goes that can fulfill your intention to make a difference in others’ lives.

It is well known that some charities have high overhead expenses and spend much of their donations for fundraising or on high salaries for executives. Other charities may be more fiscally responsible, thus ensuring that your donation goes to the intended recipients. The website charitywatch.org is a great resource for evaluating non-profit organizations based on several criteria. One important measure is whether more than 75% of donated dollars are spent on the stated mission of the charity.

In addition to wanting your donation to be spent wisely, assess the impact that your donation will make on the lives of the recipients. For example, giving $25 to a huge corporate charity or a medical research organization may not have as much impact as giving the same amount to an orphanage in Africa or to a food bank in your own town. Your donation can have the power to do a lot of good.

Emergency help on the roadWhether you’re heading to work or to grandmother’s house for the holidays, there’s nothing more annoying than a car breakdown on the road.

Having a roadside assistance plan can be comforting. In addition to AAA, there are many other companies that offer towing and emergency assistance plans. These include auto manufacturers, AARP and even cell phone providers. How do you choose among them?

Nearly all plans provide towing or reimbursement for emergency towing costs if you’re stranded, although there may be additional costs if you’re some distance from the nearest repair shop. Other services may include changing a flat tire, opening a locked door, replacing a battery, or delivering fuel if you run out of gas. The American Automobile Association (AAA) the market leader, also offers discounts on hotels, rental cars, travel reservations and other services to members. Some plans provide for service on other vehicles such as motorcycles and RVs while Better World Club even helps if you have a problem with your bicycle. Make sure that your family will use these features before paying extra for them.

Determine if you already have comparable coverage through your auto insurance policy, credit card, or as part of your vehicle’s warranty before paying for auto club membership -- unless you calculate that the shopping and travel discounts make the membership worthwhile.

When pricing roadside assistance options, look for a plan that won’t charge separately for such extras such as towing during a snowstorm. Find out if the plan covers all family members and vehicles and whether you can use it when borrowing a car. How many times the service can be used during a given year without penalty? If you rarely travel out of town, you may be better off just calling a local tow service when you need it.

Even though breakdowns are rare, the peace of mind afforded by motor club membership is generally worth the cost.

Lessons from LuminariesBroadway composer, writer and actor Lin-Manuel Miranda made history

Lin-Manuel Miranda lived in relative obscurity outside of the theater world until his award-winning musical Hamilton hit the New York stage in 2015. Theater buffs may, however, remember his Broadway show In the Heights that won a Tony Award for Best Musical in 2009.

Miranda, age 36, grew up New York City, the son of Puerto Rican parents who had professional careers. He and his sister were encouraged to explore various musical genres, and Lin-Manuel found his passion in hip-hop music. He performed in plays during high school; and while a student at Wesleyan University in Connecticut, he also started writing the music and lyrics for In the Heights. He worked on the music for many Broadway shows and appeared in small roles on TV and in the movies before In the Heights – in which he also starred – reached Broadway.

Miranda picked up the nonfiction biography Alexander Hamilton by Ron Chernow at the airport before going on vacation in 2008. It took several years of hard work to turn the hefty book into the inspiring patriotic musical Hamilton. The play is about the foreign born Founding Father who became America’s first Treasury Secretary who is most famously remembered for having died in a duel with then Vice President Aaron Burr.

Miranda initially played the title role and used an ethnically diverse cast. It was an immediate hit and the show was nominated for the most Tony Awards in history. It also won the 2016 Pulitzer Prize for drama and there was at a private performance in the White House. A few months after the show’s Broadway debut, Miranda was awarded a prestigious MacArthur Foundation “genius” grant for “extraordinary originality and dedication” to creative pursuits.

Miranda is credited with popularizing musicals again. Fans have camped out for days in hopes of getting a ticket to the show even after he left the cast. He is a cult figure with countless young “Hamilfans” who can recite every lyric to Hamilton’s hip-hop/R&B score and is using his popularity to spur young people to learn more about American history and politics.

Miranda gave up his starring role in the summer of 2016 after 375 performances and is pursuing composing and other acting jobs. He is married to Vanessa Nadal, a lawyer and scientist, who is the mother of their young son.

The lessons: 1) Dare to do something different. No one could imagine that a hip

hop version of a Founding Father’s life could be transformed into a successful musical.

2) By using actors who didn’t necessarily look like the actual historical figures, Miranda helped break down stereotypes and encouraged a broader audience who could identify with the characters.

3) Don’t let others talk you out of following your dreams just because they defy the norm. Miranda was able to make history interesting to the masses.

176924 3044526.I.P © 2016 Voya Services Company. All rights reserved.

Provided courtesy of Voya Financial Lifeline – proudly serving our customers

This complimentary Advice & Counsel Newsletter is provided as a service to Voya Financial Lifeline customers. While Voya Financial Lifeline is proud to offer this service to Voya customers, we do not take responsibility for materials published herein. We do not independently verify this information, nor do we guarantee its accuracy or completeness. Please contact Voya Financial Lifeline’s customer service team at (800) 625-7440 for specific questions about your account. Thank you for being our valued customer. Advice & Counsel Newsletter is published by Advice Publications LLC, c/o AdviceCo, 2330 Marinship Way, Sausalito, CA 94965. (415) 339-6510. Publish@AdvicePublications.com. The articles abstracted and this newsletter are for general informational purposes only and not intended as professional legal, financial or tax advice. You should consult with a knowledgeable professional for your personal situation

Sources used in this issue include: Wall Street Journal, Consumer Reports, Edmunds.com, U. of Wisconsin School of Medicine and Public Health, LinManuel.com, Variety, Casting Frontier, Biography.com, PBS, National Communication Association, Family Search.org, StoryTrust.com, CBS News, University of Minnesota, Forbes, Smithsonian Magazine, US Dept. of Homeland Security, Travel & Leisure, TSA.gov

Family gatherings during the holidays present the perfect time to create and preserve an audio and video record of those moments. We’ve all looked through our scrapbooks or wedding albums from time to time and commented on those who are no longer here or how young we looked years ago. Now, the availability of smartphones and cameras with video capability makes it very easy to document the lives of family members for future generations.

If you prefer a spontaneous video, set up a cell phone camera to capture the conversations at the dinner table, while the family is preparing the meal or watching a game on TV afterwards. To obtain a more formalized oral history of each person, consider preparing a few questions and sending them out in

advance to help jog their memories and organize their thoughts. You might ask questions about their childhood, the town where they grew up, anecdotes about school, stories about their first car, how they celebrated holidays as a youngster, the impact of war or politics on their lives, and how they entertained themselves.

Stay within 1 - 3 feet of the speaker for the best audio quality if you are using a smartphone or tablet device. If possible, perch your phone on a stand or use a camera with a tripod to keep the camera still. Try to limit background noise, if possible.

Recording your family story is a wonderful way to document what is unique about those you love and to see their expressions and hear their voices as they tell their tales. Once you have completed your movie, send a copy to all the family members who were present that day or post on a family web page so that all of you can relive those precious moments and preserve your legacy for future generations.

Videocapture your family’s story

Avoid shopping while hungryHave you ever found yourself loading up the shopping cart with more than you need at the grocery store because you’re hungry? It turns out that the same phenomenon can occur when shopping for non-food items, as well.

A University of Minnesota study published in the Proceedings of the National Academy of Sciences suggests that consumers buy significantly more non-food items if they are hungry while shopping. The Minnesota researchers found that there was no difference in shopping habits if the shopping took place in stores or online.

They theorize that hunger is a primal biological urge that not only increases the desire to find food, but also can impact the hormones that make us want to acquire goods in general. Thus, hunger may be a factor that can interfere with rational impulse control in a number of situations.

To save money on unplanned purchases, have a meal or a snack before you shop, or stop at the food court before walking into a store at the mall!

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