Patriot Wealth - December 2018

DECEMBER 2018

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THE RECIPE FOR APPLE BUTTER STARTS WITH FAMILY THE DOAK FAMILY TRADITION

The holidays usually center on traditions, and my mom’s side of the family has one every other fall that is indeed something unique. “Apple butter weekend” has been a Doak family staple since 1960, providing a celebration for generations to come together and cultivate a community. My mom was raised in the rolling hills of southeast Ohio, coming from the small town of Waterford. My Uncle Roger and Aunt Shirley actually live in the home she grew up in and serve as the hosts of our family ritual. Since the beginning of time, we’ve gathered together over a copper kettle and hot fire to make apple butter. The recipe and process haven’t changed since I was a kid. From inception to completion, the mixture takes about 10–12 hours to reach fruition and requires stirring all day. Once it’s ready for canning, everyone makes a patriarchal assembly line with the oldest member of the family manning the kettle and the rest of us with jars and lids. Our fearless leader will get the mixture out of the copper cauldron, and it’s up to us to fill mason jars and pass it down the line to store. Once you hear the popping of the seals, the butter — a perfect fall addition to bread, biscuits, or English muffins — is ready to use as you please.

While the tradition centers on a cinnamon, apple-flavored spread, the real purpose of the event is coming together as a group. People come from all over the country to partake in the occasion. We’re in and out of the house all day, watching football and spending time together while strengthening the family bond. It’s about so much more than butter; this gathering really shows you the essentials in life. The kids are taught

values and learn the importance of fellowship. Both my wife and I were able to attend for the first time this year. We met new friends and forged bonds with extended family that we aren’t able to see often. Perhaps above all, when you’re with family, your stress dissipates. There’s no pressure to impress anyone or be anxiously on your toes. You can just exist and take solace in the fact that everyone around you knows and trusts your character. Family conventions might seem monotonous to some, but they can be a fun and enjoyable experience, forming bonds and taking a load off. If you want any apple butter next time we make a family batch, reach out to me, and we’ll add you to the list! My wife is from Indiana, and apparently, they love it on pizza there, so you never know what uses you’ll find for it. The holidays are a particular time that allows us to invest in relationships that matter most. I hope everyone finds joy with your loved ones this season.

Merry Christmas!

— Wes White

Investment Advisory Services offered through Retirement Wealth Advisors (RWA), a Registered Investment Advisor. Patriot Wealth and RWA are not affiliated. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.

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STOP DONATING TO SCAMMERS HOW TO SPOT FRAUD THIS HOLIDAY SEASON

During the season of giving, charities receive a much-needed rush of donations as people open their hearts to others. Unfortunately, criminals are all too willing to abuse this goodwill. According to a report from the Justice Department, Americans over the age of 60 lose over $3 billion a year to scams and fraudsters. As charity scams reach their peak, here’s what you need to do to ensure your donations aren’t lining the pockets of criminals.

Because it’s impossible to determine who is on the other end of a call or email, you should never hand over your credit card information to strangers. If you really are speaking to a representative from a legitimate charity, they will direct you to a secure avenue where you can give without worry. A lot of charities set goals they want to reach before the new year, but even groups that are hoping to raise a certain amount of money know better than to pressure donors into giving. Donations should always come from the heart, and it’s a bad sign if someone insists there’s a deadline for giving. As the Better Business Bureau says, “Responsible FEELING PRESSURED? WALK AWAY.

organizations will welcome your gift tomorrow as much as they do today.”

ONLY GIVE TO REPUTABLE CHARITIES.

Do some research before donating to charities. Look up any prospective charity on Charity Navigator at CharityNavigator. org. This service flags “high concern” organizations suspected of fraud and ranks how reliable established charities are. Even legitimate organizations can be misleading about how they spend their donations. A good rule of thumb is to avoid organizations that spend more than 25 percent of donations on salaries or administrative costs.

NEVER GIVE BY PHONE OR EMAIL.

Charities regularly reach out to past and potential donors through traditional mail, email, phone calls, or text messages. This means fraudsters will mimic their approach with less noble intentions.

There are many amazing charities and organizations that do good work. Stay

WHEN THE MARKET FEELS LIKE AN AMUSEMENT PARK HOW SMART GOALS HELP ASSUAGE FEAR

People tend to think of this time of year as an opportunity to re-evaluate their life goals and aspirations. For example, they might make resolutions to lead better lives, spend more time with their families, start a new diet, or work on their fitness. When it comes to financial investments at the end of 2018, sitting back and watching the market might feel like a roller coaster ride. Riding the investment roller coaster can be scary, especially when the market takes big dips or makes drastic loops, but take it from us here at Patriot Wealth Management; the only way you can get seriously hurt is if you jump off completely. Just like any life goal, it’s necessary to focus on the long term in order to reach any kind of success. While it’s imperative to make yourself aware of potential pitfalls on your voyage to reach that goal, if you only focus on the negative aspects, your objective will move further and further away. The same is true with investing. If you let the fear of market drops control your investment strategies this upcoming year, you won’t reach any of the financial goals that you set for yourself.

A great tool to help set up realistic and successful financial aspirations is the SMART acronym. Setting SMART goals means that you can clarify your ideas, focus your efforts, and use your time and resources productively. To make your goals clear and reachable, each one should be:

S pecific M easurable A chievable R elevant T imely

The two most important services a wealth manager can provide is helping you set SMART goals and then serving as your accountability partner when the market starts to feel like a roller coaster ride. They can keep your eyes focused on creating more purposeful and reasonable objectives rather than letting you bow out due to fear of market volatility. If you’re ready to build a collaborative relationship with a wealth manager who is committed to helping you achieve your goals, reach out to us today.

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ROBERT KIYOSAKI VS DAVE RAMSEY

WHICH FINANCIAL APPROACH IS RIGHT?

As technology expands, new interpretations that govern financial planning spread like wildfire. It seems a new idea comes to fruition almost daily, each one claiming to know the best ways to manage your money and build wealth. But many new ideas actually boil down to two familiar concepts that are philosophically different but have been perpetuated for decades. You can either leverage debt to invest in growth assets or eliminate debt to free up cash flow. Each approach has its celebrity grandfather, both claiming their system will help you live a life of financial freedom. The family-oriented wisdom of Dave Ramsey preaches financial best practices for those looking to “live a life like no one else.” He details fundamental ideas that everyone needs to know to understand money — budgeting, growth plans, investment accounts, etc. — but at the center of his methodology is ridding yourself of debt. Followers of Ramsey’s method often call his show to give their “debt-free scream,” celebrating the peace they’ve found after being free of financial burdens. Tactics like the debt snowball, emergency fund, and eliminating the use of credit help thousands of people every year find success with their money. On the polar opposite end of the equation, Robert Kiyosaki informs his followers that debt is not a four-letter word. In fact, he explains Americans should use debt as much as possible to build wealth. The concept of “Other People’s Money” (OPM) is a way for you to eliminate the risk of using hard-earned cash to build wealth, and Kiyosaki says the best place to start is in real estate. Using minimal funds and mostly loans, investment properties and partnerships in businesses can be purchased to build your own empire. The central principle he focuses on is cash flow, stating that as long as your money is in a tangible asset proven to appreciate, such as a home, the debt associated with those assets does not matter; only the monthly recurring revenue matters. Ramsey plans for retirement through Roth IRAs, and Kiyosaki believes cash flow is all you need for your future, but who is right? The answer is more convoluted than you might think and ultimately revolves around your investment goals. Give us a call today and let us help you find the right path for your future. DAVE RAMSEY ROBERT KIYOSAKI

vigilant to make sure you are bringing joy to the world and not falling for a criminal looking to make a quick buck.

BUTTERY ROASTED CHESTNUTS

INGREDIENTS

Inspired by Bon Appétit

• 2 pounds fresh chestnuts, unpeeled • 2–3 sprigs rosemary • 1/2 cup unsalted butter, melted • 2 teaspoons kosher salt, or more to taste

• Pinch of freshly ground nutmeg • Freshly ground black pepper, to taste

DIRECTIONS

1. Heat oven to 450 F. 2. Place a large sheet of foil on a rimmed baking sheet.

3. On a large, flat workspace, place chestnuts flat side down. Using a sharp knife, carve an X on the rounded side of each chestnut. 4. In a large bowl of hot water, soak chestnuts for 1 minute. 5. Pat dry and transfer to a medium bowl. Add rosemary, butter, salt, pepper, and nutmeg. Toss to coat and transfer to baking sheet. Arrange in a single layer. Gather the edges of the foil together, leaving an opening at the top.

6. Roast until peels curl up, about 30–45 minutes. 7. Transfer to a platter and serve while hot or warm.

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INSIDE THIS ISSUE

Traditions Make a Community PAGE 1

Scammed for the Holidays PAGE 2

When the Market Feels Like an Amusement Park, We Can Help! PAGE 2

Buttery Roasted Chestnuts PAGE 3

Kiyosaki vs. Ramsey: Whose Strategy Is Better? PAGE 3

Holiday Decoration Tours PAGE 4

CHRISTMAS TOURS

GET AWAY AND BE FESTIVE THIS HOLIDAY SEASON

There’s nothing quite like the magical lights of the holiday season, and some destinations in the U.S. have perfected the craft of holiday decoration. If you’re looking to get away this December and still engage in seasonal festivities, add one of these places to your must-visit list.

Western-themed holiday pulled right out of a John Wayne classic. For holiday admirers looking for a unique spin, Jackson has you covered.

YEARLY YULETIDE IN SANTA CLAUS, INDIANA

NEW YORK CITY’S ROCKEFELLER CENTER

This one’s for the Christmas lover. If you can’t make it out to Santa Claus, Indiana, this holiday season, you can still celebrate Christmas in this tiny Midwestern town in January, June, or even October. Embracing its unique name, the town boasts a museum, holiday shopping center, and a Christmas theme park. In a moving tribute, the town’s residents also write responses to children’s letters to Kris Kringle himself. It’s impossible to avoid holiday cheer in this town.

New York City is an iconic location for Christmastime. The scene is like a Hallmark card: Ice-skating lovers whiz past miles of twinkling lights underneath an exceptionally tall and amply decorated tree. The tree is specially selected by Rockefeller Center’s landscaping crews, who scout out trees years in advance. It remains lit from November to early January, so you have plenty of time to check it out.

DISNEY WORLD’S CHRISTMAS MAGIC

RANCH CHRISTMAS IN JACKSON, WYOMING

What better place to celebrate the most magical time of the year than in the most magical place on Earth? Walt Disney World’s halls are decked to the max with a parade, gingerbread homes, strings of lights, and festive parties. Plus, costs to visit Disney World can be cheaper during the Christmas season, so keep an eye out for a vacation steal.

Jackson, Wyoming, takes its frontier culture to the next level during the Christmas season. All year, the city proudly displays four elk antler arches, but around the holidays, they are lit up with white string lights and flanked by snow. The Christmas decorations and lights surrounding the archway make for a

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