Will Conversation Scare All the Fish Away?

Leslie Goldstein is an experienced, Arete Wealth Management-licensed financial advisor who has spent more than 24 years leading Personal Financial Strategies, Inc., in Park Ridge, Illinois. Outside of his responsibilities as chief executive officer of the boutique wealth management firm (which specializes in high-net-worth families) and his engagements with professional groups like Arete, Leslie “Les” Goldstein enjoys pastimes such as fishing and reading.

Fishing is often thought of as a calming, sometimes solitary pastime. In television and film, characters will frequently mention that talking too loudly scares all the fish away. But are fish really so sensitive to human voices? The truth is somewhat difficult to ascertain.

Speaking with Fishing Boy’s Life, professional fisher Tom Redington discussed how sound waves travel poorly between air and water. Not only are fish unlikely to hear normal human conversation from a boat or shoreline, but they would likely barely register the sounds of full-on screaming. With these facts in mind, it is safe to say that a few idle remarks will not scare all the fish away.

There are, however, a few caveats to note. While sound waves do not readily transfer between air and water, underwater sound waves are powerful and travel fast. Thus, walking or moving around a boat will create loud noises that move freely throughout the surrounding water. In fact, simply dropping a tool on the floor of an aluminum watercraft is enough to scare off all the fish in an area.

At the end of the day, hobbyists and recreational fisherfolk should go about the sport of fishing in whatever manner they most enjoy. Individuals determined to catch as many fish as possible should make as little noise as possible, but can rest assured that a few passing comments will not spoil the day.

Back Court and Over-and-Back Violations in Basketball

An Arete Wealth Management-licensed financial advisor, Leslie Goldstein has served as chief executive officer of Personal Financial Strategies, Inc., in Park Ridge, Illinois, since 1996. When he is not overseeing all financial planning and investment advisory services at the boutique wealth management firm or engaging with organizations such as Arete Leslie “Les” Goldstein enjoys staying active through basketball.

In the sport of basketball, defensive players can force offensive players to commit several kinds of turnovers. One of the most obvious turnovers is the steal, when a defender either strips the ball from an offensive player or intercepts a pass. Less commonly seen turnovers result from the over-and-back rule and back court violations.

An over-and-back call is made when an offensive player who has established themselves in the front court, with both feet and the ball over the mid-court line, subsequently steps back into their half of the court. A player with one foot over mid-court can still bring the ball back. That said, possession is the key element of this ruling, as it is legal for an offensive player to step back over the line to retrieve a ball poked loose by a defender. This would indicate a loss of possession, however brief.

A back court violation, meanwhile, occurs when an offensive player cannot fully bring the ball across the half court line within 8 seconds of gaining possession. This typically occurs near the end of a closely contested game as teams begin implementing full-court defensive presses, trying to force turnovers as quickly as possible and preserve valuable time on the clock.

In both cases, offensive players are whistled for a turnover, play is halted, and possession changes. In the event of a back court violation, the offensive player to touch the ball last is charged with the turnover. Over-and-back violations, meanwhile, are recorded as team turnovers.

Common Reasons People Delay Retirement Planning

As a lead advisor for Personal Financial Strategies Inc., an affiliate of Arete Wealth Management, wealth management professional Leslie “Les” Goldstein educates his clients on long-term wealth and estate planning options. Alongside his work with the Arete Wealth Management-qualified network, Leslie Goldstein has contributed articles covering financial planning to the Kiplinger media firm.

In a 2017 article for the publisher, he discusses common reasons why people may be hesitant to create a retirement plan. Many people feel overwhelmed by the number of decisions they need to make and choose to delay planning. Unprofessional advice from family members and friends can also influence how people view retirement planning. Individuals may also be wary of working with financial professionals due to their own negative experiences.

On the other hand, people may underestimate the importance of expert financial planning advice and believe they can develop a sufficient retirement plan on their own. However, since long-term wealth planning is complex and regulations are always changing, it is recommended to contact a trusted financial advisor when weighing options for retirement.

How to Become a More Avid Reader

An Arete Wealth Management-licensed advisor, Leslie “Les” Goldstein has served as CEO of Personal Financial Strategies, Inc., since 1996. In addition to using his Arete Wealth Management, LLC licensure skills to serve high net worth families, Leslie Goldstein is an avid reader who published a book titled, “Big Picture Retirement Planning: A bird’s eye view from 3000 feet.”

Reading regularly can spur increased knowledge as well as personal growth and development. To make reading a daily habit, make sure to bring your book everywhere because you never know when you may have extra time on your hands to read. While you are reading, use a pencil or highlighter for useful or enlightening passages that you may want to return to later. This tactic helps you retain information better, which makes you feel more accomplished after reading.

Listening to audiobooks is an excellent way to squeeze more reading into a tight schedule. Select a book to listen to while doing housework or driving and everyday activities will feel more invigorating. Another way to finish more books is to join a book club. The accountability of a group assignment and the chance to discuss what you read in the group can be very motivating and help you increase your daily page count.

Why Does White Matter Matter?

An Illinois-based financial planner registered with Arete Wealth Management, LLC, formerly with Arete Wealth Management, Leslie Goldstein serves as the CEO of Personal Financial Strategies, Inc. Holding an investment advisor license from Arete Wealth Management, LLC, Leslie “Les” Goldstein spends his free time reading.

Reading regularly has a profound positive impact on the brain. It increases not only working memory capacity, but also connectivity within the brain and attention span. Moreover, reading has the ability to increase the brain’s white matter. This decreases the risk of many psychiatric conditions like schizophrenia, major depression, dyslexia, and Alzheimer’s disease.

For a long time, white matter was seen as unimportant and often ignored in favor of inspecting grey matter. However, white matter plays an essential role in neural communication and is responsible for connecting the different regions of gray matter to one another.

White matter is comprised of bundles of axons that are coated by a waxy substance known as myelin. In myelinated nerves, messages travel the length of the axon up to 100 times faster than fibers that are non-myelinated. Myelin also provides protection to the nerves and keeps the brain from short-circuiting.

Most people develop white matter in the brain until their mid- to late 20s. By this time, all of the brain’s nerves are covered by myelin. However, the volume of white matter increases or decreases with experience, so some people still develop white matter well into their 50s. Certain medical conditions, like multiple sclerosis, also attack the myelin in the white matter. This reduces the speed of neural communication and increases the chances of communication disruption.

rideATAXIA Raises Money for FA Research

Personal Financial Strategies, Inc., an affiliate of Arete Wealth Management, is led by CEO Leslie “Les” Goldstein. In addition to leading an independent Arete Wealth Management financial advisory firm, Les Goldstein has supported a successful fundraising campaign for the Friedreich’s Ataxia Research Alliance (FARA).

Friedreich’s ataxia is a rare and debilitating genetic disorder that causes muscle loss, mobility issues, and cardiac complications. FARA aims to fund research initiatives that investigate novel treatment approaches and organize essential clinical trials. One of the organization’s biggest fundraisers is its international charity bike ride known as rideATAXIA, which raises $1 million every year.

Participants can register to ride from 2 to 50 miles during the one-day event and raise money for every mile traveled. Routes vary from family-friendly to professional level and take place in six major US cities, Europe, and Australia. All US participants are also invited to a post-ride dinner sponsored by the American restaurant chain Outback Steakhouse.

Tax-Sheltered Methods for Transferring Wealth to Grandchildren

As the CEO of an Arete Wealth Management-affiliated wealth management firm, Leslie “Les” Goldstein counsels high-net-worth individuals and families on long-term financial planning. Similar to other Arete Wealth Management advisors, Les Goldstein often advises families on how to build and sustain multi-generational wealth, which includes legacy planning for grandchildren.

Without careful planning, any inheritance left to grandchildren can be taxed on the federal and possibly the state level. Grandparents should work with an experienced financial advisor to create an estate plan that reduces tax obligations.

One commonly used strategy is maxing out annual untaxed gift amounts. In 2020, grandparents can give each of their grandchildren and their spouses up to $15,000 each tax-free. Distributing annual gifts can also lower grandparents’ overall net worth, which can reduce inheritance taxes.

Grandparents can also defray the costs of their grandchildren’s education by opening or contributing to a 529 education savings account or paying tuition bills directly. Grandparents can also establish a trust that simultaneously lowers the value of assets subject to estate tax while maintaining control over when the funds are distributed.

How to Prepare Financially for Retirement

A Arete Wealth Management-licensed professional, Leslie “Les” Goldstein serves as the CEO of Personal Financial Strategies, Inc. Using the resources and tools provided through Arete Wealth Management, Leslie Goldstein assists people who are planning for retirement.

While prospective retirees can easily transition into retirement with the help of an advisor, much of the background work of preparing can be done by the retiree themselves.

More than just reviewing their annuities and other retirement accounts, prospective retirees should research to see how much they much income they need to retire comfortably. They should also consider where to retire because a few states do not require that their residents pay state income taxes. Other considerations include drafting a budget that will take into account the types of activities the retiree will engage in.

Prospective retirees can also take advantage of tax breaks that will allow them to save more money. People over 50 have the advantage of being able to invest more of their earnings in certain retirement accounts.

Retirees should also understand how Social Security works. If relying solely on Social Security benefits, retirees should compare the monthly allotment with their budgets. More importantly, they should also consider how working an extra job might impact their benefits. Les Goldstein and his team of financial professionals have all developed considerable expertise in social Security maximization, retirement income tax reduction and comprehensive retirement income planning for their clients.

New Clinical Research to Improve Understanding of Friedreich Ataxia

he founder and president of Personal Financial Strategies, Inc., Leslie Goldstein possesses investment licenses through Arete Wealth Management. In addition to offering advisory services to high-net-worth clients in Chicago, Leslie “Les” Goldstein supports worthy causes. Through the Cure Friedreich Ataxia (FA) Foundation, he has raised more than $40,000 to support family members who suffer from the genetic condition.

The Cure FA Foundation funds scientific research projects and partners with leading organizations to raise awareness and find a cure for Friedreich’s Ataxia. One of its industry partners, Friedreich’s Ataxia Research Alliance, recently launched a clinical study to explore the history of Friedreich’s Ataxia and its progression. Friedreich’s Ataxia is a neurodegenerative orphan disease that is common among children and teens from 5 to 15 years of age and causes muscle weakness, diabetes, and cardiomyopathy.

The study, which will be conducted at 13 locations across the United States, Canada, Brazil, and Australia, will enlist 2,000 participants who will be monitored and evaluated annually for over 10 years. The researchers aim to identify effective ways to assess the disease, as well as to determine how clinical and biochemical characteristics change over time. More importantly, the results of the collected data may help steer researchers into developing new treatments for Friedreich’s Ataxia.