CEO Report: Fourth Quarter January 15, 2019

As we welcome the New Year, we would like to share some exciting developments at Petersen Hastings. Effective, January 1st, Matthew Petersen is our newest shareholder. Matthew joined Petersen Hastings in January of 2013 and is a 3rdgeneration “Petersen” in the firm. In addition to being an excellent financial advisor — managing investments for families, individuals, corporate retirement plans and trusts — he is our Chief Compliance Officer, and he also oversees our Private Trust service line. Matthew has not only earned confidence from our leadership team at Petersen Hastings, but also from many business leaders in the Tri-Cities community. He continues to take the lead role with our annual Petersen family fundraiser that benefits the Boys and Girls Club of Benton and Franklin Counties, as well as serving as their Vice-President. He also serves on the Columbia Basin College Foundation board as Vice-Chair. Congratulations, Matthew!

“The Conversation”

Over the past several years, I have had numerous conversations with clients, friends, and family about their preparation for retirement. I usually include the following question as part of these conversations: “What are their plans during retirement?” Sometimes, the answer to this question is quite detailed, which may include participation with their favorite not-for-profit organizations, taking up new hobbies, mentoring the next generation, traveling, spending additional time with grandchildren, along with other activities. But too frequently, the response I hear is either silence or “I am not sure.”

There is so much focus on having enough money to become “financially independent” that the non-financial elements of this significant life transition is lost. “A successful marriage is highly correlated to the square footage of your home.” This quote comes from a good friend’s wife that was implying that giving each other space is important. When one spouse retires, they may “disrupt” the other spouse’s routine (space), just by being home during what used to be “work hours.” We encourage the non-financial, pre-retirement “conversation.” Planning for activities post-retirement that include the “space” conversation will help smooth out the logistics of the transition. We are available to be part of this process with you as part of our wealth management planning process. 

On behalf of everyone at Petersen Hastings, we wish you and your family a very Happy New Year!

Jeff Petersen CEO Report - Petersen Hastings

Author: Jeff Petersen, CEO | Sr. Wealth Advisor

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