The Metro Times Atlanta May 2018 | Page 14

PAT CAVANAUGH CHIEF ADVISOR
Page 14 MAY 2018

PAT CAVANAUGH CHIEF ADVISOR

THOUGHTS OF A BABY BOOMER

Doris Ann Cope Cavanaugh was born in November 1926 . She died in the Spring of 2015 . My Mom was a beautiful , stubborn , honest and determined women and my relationship with her was bittersweet . She married young after being raised by a father who turned her into one of the toughest tomboys . She always played softball better than most men . Mom , was married at age 19 and had me a year later . I didn ’ t realize until after her death how much she loved me . She wasn ’ t the type that hugged you and showered you with kisses . In fact , I never told my Mom I loved her until I was 60 years old . It was just something we didn ’ t do .

My mother moved us from Washington to the real countryside of Maryland , when I was five years old in hopes of breaking my father away from his mother ’ s apron strings but it didn ’ t work . My father worked two jobs , attended college at night and stayed tied to his mom . My mother found herself stuck in a house that was a mile down a dirt road and surrounded
by woods and water and with no car . Eventually , she was accompanied by four children .
My mother struggled with a period of being in a depression , where she drank cokes , read hundreds of romance paperback books and held and caressed one of our cats always . At times she stared off into space . My mother was not a housekeeper , but she could take hamburger meat and turn it into so many dishes . I figured that the old A & P store must have sold cans of tuna packed in oil , for about 20 cans for a dollar because she also fixed that greasy tuna in so many ways . To this day I still can ’ t stand tuna .
My mother never spared the use of the rod to the point of sometimes using it too much . My mom told us if we misbehaved when we were out somewhere we would pay the price when we got home . She never forgot . I just learned that if I was going to get it anyway , I might as well do what I wanted all day . Most of the time , I did . Unfortunately for my mother , I had the same personality as she did . When I was 14 , I worked at the local newspaper , and when I was 16 , I moved in permanently with my grandmother . I realize now that this broke my mother ’ s heart . I don ’ t think she ever quite forgave my grandmother or me for this decision .
Later when my brother and sisters grew older , and my mother had her own car . She started working with disabled children , and for 20 plus years she gave love and encouragement to hundreds of these kids . She also headed the ( Confraternity of Christian Doctrine ) CCD program at her beloved Catholic Church , which she continued to do until her late 80 ’ s . It just about killed her when she had to give this up . My mom suffered from dementia in the last few years of her life . In my heart of hearts , I was always proud of my mother . She had so many talents that she never pursued for different reasons . I have some beautiful sketches that she had done . I now know her dream was to go to Vanderbilt University . I am what I am today because of my mother . Everything I have done was done subconsciously to win her approval . I always wanted to make her proud . My mother was never happy with my decision to be involved with newspapers . Her desire for me was to be a lawyer so I could be a Judge or more .
When I was a teenager , I had to register for the draft , but because I had lost toes in a lawnmower accident , my classification was 1Y , national emergency only . After I graduated from school , I received a letter that I was reclassified to 1A . When I was taking my physical , I was given a packet with all the forms . They said I was unemployed and wanted to go into the service . After examining me , I was reclassified 1Y . Later I asked my mother why she did that . She claimed that she did not and stood by it . Like I have noted , mother was not only stubborn , but she was determined I was not going to make my career in newspapers . Mother loved it when I married Molly . She loved her like a daughter . I think she thought she was going to be the stabilization I needed in my life .
After 35 years I have to admit my mom was almost always right . It took me until the end of my mother ’ s life to realize that I hadn ’ t needed to accomplish things to make Mother proud of me . The last time I saw my Mom , we were walking down the hall to a Thanksgiving dinner . She turned to me and said , ” What do you do ?” I told her I was a newspaper publisher . She looked at me and said , “ I have a son that owns a Newspaper .” I told her that I knew that , as she smiled . The same night , she also proclaimed to all that were there that I was conceived in New York City . Something I always wanted to know . I knew right then that in spite of living in the dark hole of Dementia , my mom was proud of me and loved me . I did not cry when mom died , and I did not cry when we interned her with my

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L O C A T E D A T T H E B R I D G E S A T C O N Y E R S
N E S T L E D I N C O N Y E R S , T H E S U G A R M I L L B A K E R Y O F F E R S C A K E S , C U P C A K E S , C H E E S E C A K E S , T A R T S A N D B R E A D . S T O P I N T O D A Y F O R A T A S T E !
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father at Arlington Cemetery .
Later after I had time to look at all of the paperwork , I found carefully cut out accounts of all my ventures . She kept a diary when I was a baby . In the same diary , she stated what she wanted to accomplish in her life . I then cried because I realized that my Mom was gone and that her love was always more than bittersweet , I could go on and on to tell you about my mom . I don ’ t smoke to this day because of her . I never quit trying to be the best I could because of her and I always still have dreams of achieving anything I want to do because of her even now at my age .
If your mom is still alive , tell her how much you love her right now . Don ’ t wait until tomorrow . Do it now . Remember that tomorrow doesn ’ t always come .
Happy Mothers Day Mom . I love you .
Till next time .

MOTHER ’ S DAY FINANCIAL GIFTS FOR YOUR ADULT CHILDREN

Mother ’ s Day is almost here . If you ’ re a mother with grown children , you might receive flowers , candy , dinner invitations or some other type of pleasant recognition . However , you might find that you can get more enjoyment from the holiday by giving , rather than receiving . The longest-lasting gifts may be financial ones – so here are a few moves to consider :

Contribute to your child ’ s IRA . If your children have earned income , they are eligible to contribute to an IRA , which offers tax benefits and an almost unlimited array of investment options . You can ’ t contribute directly to another person ’ s IRA , but you can write your child a check for that purpose . This could be a valuable gift , as many people can ’ t afford to contribute the maximum yearly amount , which , in 2018 , is $ 5,500 , or $ 6,500 for those 50 or older .
Give gifts of stock . You know your children pretty well , so you should be familiar with the products they buy . Why not give them some shares of stock in the companies that make these products ? Your children will probably enjoy being “ owners ” of these companies , and if they weren ’ t that familiar with how the financial markets work , having these shares in their possession may greatly expand their knowledge and lead to an even greater interest in investing .
Donate to a charity in your child ’ s name . You might want to donate to a charitable organization that your child supports . In years past , such a donation might have earned you a tax deduction , but the new tax laws , which include a much higher standard deduction , may keep many people from itemizing . Still , it ’ s possible for a charitable gift to provide you with a tax benefit , depending on your age . If you ’ re 70 ½ or older , you must start taking withdrawals from your traditional IRA and your 401 ( k ) or similar employer-sponsored plan , but by moving the withdrawal directly to a qualified charitable group , the money won ’ t count as part of your adjusted gross income , so , in effect , you can get a tax break from your generosity .
Review your estate strategy . Like virtually all parents , you ’ d probably like to be able to leave
some type of legacy to your children , and possibly your grandchildren , too . So , if you haven ’ t already started working on your estate strategy , consider using Mother ’ s Day as a launching point . At the very least , you ’ ll want to write your will , but you may need much more than that , such as a living trust , a durable power of attorney and other documents . And don ’ t forget to change the beneficiary designations on your life insurance and retirement accounts if you ’ ve experienced a major life change , such as divorce or remarriage . These designations are powerful and can even supersede whatever instructions you might have left in your will . As you can guess , estate planning can be complex , so you almost certainly will want to work with a legal professional to get your arrangements in order .
Mother ’ s Day is a good opportunity for your children to show their love for you , and you can do the same for them by helping bolster their long-term security through financial gifts and legacy planning .
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor . Jason Witcher Edward Jones
Financial Advisor

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