The Millstone Times February 2021

FAMILY MATTERS

The Consumer Financial Protection Bureau is helping long-term care facilities protect older Americans from financial exploitation

We’ve heard a lot of stories about vulnerable adults falling prey to con artists, family members, fiduciaries, and professional advisers who steal their nest eggs and threaten their financial security. A son steals $315,000 from his elderly mother’s retirement accounts and frequents casinos. When he doesn’t pay his mother’s rent, she’s evicted from her assisted living facility.

Changing jobs, switching employers, or retiring? Don’t leave your 401(k) or 403(b) unattended The pastor of a 77-year-old man with Alzheimer’s and Parkinson’s diseases makes 130 withdrawals from the man’s bank account but fails to make nursing home payments on his behalf for nine months. The man was nearly discharged from his nursing home. These stories are all too common. You can download the free manual online at consumerfinance.gov and see more similar stories which helps family members and assisted living and nursing facility staff with the know-how to prevent and spot the warning signs of abuse. Here are some warning signs that a long-term care resident is being financially exploited or abused: • Possessions disappear from a resident’s room or apartment • Resident pressured to make a decision or sign a document “now” • A previously uninvolved person claims authority to ma age a resident’s care and/or finances but does not provide documentation • Unpaid facility bills • Resident’s checkbook or check register shows checks made out to “cash” frequently or check numbers out of sequence • Frequent or costly gifts to facility staff or volunteers

Changing jobs, switching employers, or retiring? Don’t leave your 401(k) or 403(b) unattended Changing jobs, switching employers, or retiring? Don’t leave your 401(k) or 403(b) unattended Changing jobs, switching employers, or retiring? Don’t leave your 401(k) or 403(b) unattended

Changing jobs, switching employers, or retiring? Don’t leave your 401(k) or 403(b) unattended It’s important that you understand your options so that you can take action n w to h lp ensure you retirement savings contin e working for you. It’s important that you understand your options so that you can take action now to help ensure your retirement savings continue working for you. • Roll over your assets into an Individual Retirement Account (IRA) to help ensure your hard- earned retirement dollars continue to work for you. It’s important that you understand your options so that you can take action now to help ensure your retirement savings continue working for you. Options generally include: • Move your assets directly to your current or new employer’s QRP (if the plan allows) • Cash out and pay the associated taxes Ricardo Rivers, MBA Associate Vice President - Investment Oicer 989 Lenox Drive, Suite 200 Lawrenceville, NJ 08648 Direct: (609) 896-4623 ricardo.g.rivers@wellsfargoadvisors.com fa.wellsfargoadvisors.com/ricardo-rivers Learn the advantages and disadvantages of each of these options as it pertains to your individual circumstances. Learn the advantages and disadvantages of each of these options as it pertains to your individual circumstances. • Move your assets directly to your current or new employer’s QRP (if the plan allows) • Cash out and pay the associated taxes • Leave your assets in your former employer’s qualiied retirement plan (QRP) (if the plan allows) • Roll over your assets into an Individual Retirement Account (IRA) • Le ve your asse s in your former employer’s qualiied retirement plan (QRP) (if the plan allows) • Move your assets directly to your current or new employer’s QRP (if the plan allows) • Cash out and pay the associated taxes Options generally include: • Roll over your assets into an Individual Retirement Account (IRA) • Leave your assets in your former employer’s qualiied retirement plan (QRP) (if the plan allows) Options generally include: Request a free copy of Wells Fargo Advisors’ 401(k) report and let’s discuss ways

It’s important that you understand your options so that you can take a now to help ensure your retirement savings continue working for you.

Options generally include:

• Roll over your assets into an Individual Retirement Account (IRA) • Leave your assets in your former employer’s qualiied retirement plan (QRP) (if the plan allows)

• Move your assets directly to current or new employer’s Q (if the plan allows) • Cash out and pay the associa taxes

Request a free copy of Wells Fargo Advisors’ 401(k) report and let’s discuss ways to help ensure your hard- earned retirement dollars continue to work for you. Request a free copy of Wells Fargo Advisors’ 401(k) r port and let’s discuss ways to help ensure your hard- earned retirement dollars continue to work for you.

Learn the advantages and disadvantages of each of these options as it pertains to your individual circumstances.

Request a free copy of Wells Fargo Advisors’ 401(k) report and let’s discuss ways to help ensure your hard- earned retirement dollars continue to work for you.

Learn the advantages and disadvantages of each of these options as it pertains to your individual circumstances.

Ricardo Rivers, MBA Associate Vice President - Investment Oicer 989 Lenox Drive, Suite 200 ricardo.g.rivers@wellsfargoadvisors.com fa.wellsfargoadvisors.com/ricardo-rivers Law enceville, NJ 08648 Direct: (609) 896-4623 ricardo.g.river @wellsfargo dvisors.com fa.wellsfargoadvisors.com/ricardo-rivers Lawrenceville, NJ 08648 Direct: (609) 896-4623 ricardo.g.rivers@wellsfargoadvisors.com fa.wellsfargoadvisors.com/ricardo-rivers Ricardo Rivers, MBA Associate Vice President - Investment Oicer 989 Lenox Drive, Suite 200 Ricardo Rivers, MBA Associate Vice President - Investment Oicer 989 Lenox Drive, Suite 200 Lawrenceville, NJ 08648 Direct: (609) 896-4623

Each option has advantages and disadvantages and the option that is best depends on your individual circumstances. You should consider features such as investment options, fees and expenses, and services ofered. A Financial Advisor can help educate you regarding your choices so you can decide which one makes the most sense for your specific situation. Before you make a decision, read the information provided in this piece to become more informed and speak with your current retirement plan administrator, and tax professional before taking any action.

Each option has advantages and disadvantages and the option that is best depends on your individual circumstances. You should consider features such as investment options, f and expenses, and services ofered. A Financial Advisor can help educate you regarding your choices so you can decide which one makes the most sense for your speciic situation Before you make a decision, read the information provided in this piece to become more informed and speak with your current retirement plan administrator, and tax profession before taking any action. Investment and Insurance Products: • NOT FDIC Insured • NO Bank Guarantee • MAY Lose Value Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank ailiate of Wells Fargo & Company. © 2020 Wells Fargo Clearing Services, LLC. All rights reserved. CAR-0720-04236

Wells Fargo Advisors is a trade name used byWells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank ailiate of Wells Fargo & Company. © 2020 Wells Fargo Clearing Services, LLC. All rights reserved. CAR-0720-04236

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Each option has advantages and disadvantages and the option that is best depends on your individual circumstances. You should consider features such as investment options, fees Investment and Insurance Products: • NOT FDIC Insured • NO Bank Guarantee • MAY Lose Value Each option has advantages and disadvant ges and the option that is best depends on your individual circumstances. You should consider features such as investment options, fees and expenses, and services ofered. A Financial Advisor can help educate you regarding your choices so you can decide which one makes the most sense for your speciic situation. Before you make a decision, read the information provided in this piece to become more informed and speak with your current retirement plan administrator, and tax professional before taking any action. Each option has advantages and disadvantages and the option that is best depends on your individual circumstances. You should consider features such as investment options, fees and expenses, and services ofered. A Financial Advisor can help educate you regarding your choices so you can decide which one makes the most sense for your speciic situation. Before you make a decision, read the information provided in this piece to become more informed and speak with your current retirement plan administrator, and tax professional before taking any action.