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MAY 2025
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Grit and Greatness What Past Generations Teach Us About Ourselves
“Son, I’m sending you off to school. I don’t have any money to give you, but I have a good name. Don’t mess that up.”
my parents put aside their immediate wants and desires to put their children first, one word comes to mind: Sacrifice. I can’t begin to express how much it will always mean to me. My dad used to share a saying from a lecturer and professor named Randy Pausch: “Experience is what you get when you don’t get what you want.” Let’s just say Dad made sure I got plenty of “experience”! One day back when I was playing football at 9 years old, I complained to him that nobody would block for me while I ran, and I would get tackled as a result. He replied, “Well, if you think everyone else is the problem, why don’t you go out for wrestling?” I ended up wrestling competitively for years. Along the way, I realized I was the only one responsible for myself on the mat — nobody was out there to save me. I and I alone decided whether I excelled or struggled. This was a valuable lesson to learn as a child: Life’s results are not anyone’s fault, nothing is owed to you, and if you want something, go get it. As the great Michael Jordan said “Some people want it to happen, some wish it would happen, others make it happen”. My family members weren’t the only older people who helped shape my philosophy. I’m so grateful for all the meaningful interactions I’ve had with our older clients here at Patriot Wealth. Having conversations with older adults is by far my favorite part of what I do for a living. Whether you’ve shared photos from your 50th-anniversary cruise with me or told me about your grandchild’s birth, I’m so grateful to learn about your lives and receive all the guidance, inspiration, and advice you’ve given me about never giving up. Thank you for welcoming me on so many of your journeys. Happy Older American Month to all my great inspirations in life. Thank you for inspiring me to pass on all I’ve learned to future generations.
These were the words that Jerome Bettis, Hall of Fame football player and former Pittsburgh Steeler, heard from his father on the day he left for college as a young man. Long before Bettis became a household name, he grew up watching his dad work two jobs to provide for his loved ones. When considering Jermone’s later accomplishments, it’s no surprise he was taught to appreciate the value of hard work and doing whatever was necessary to keep going. The same can be said for me, as my parents always encouraged me to think about those who came before me and learn from everything they did to keep our family thriving through the years. With May being Older Americans Month, I’m thinking about them even more than usual. My grandfather on my father’s side was one of 16 children born in Minnesota during the Great Depression. The family lived on a farm, and I guess my great-grandparents grew their own labor! Times for them were unquestionably tough, and it’s almost unreal to think about everything they had to persevere through just to make ends meet. When I was 20, I attended a private university; when my grandfather was that age, he did all he could just to survive and move forward. My mom and dad also worked incredibly hard when I was growing up. My mother started working at 15 and was never afraid of giving something her all. I can vividly remember all the late nights when Dad would get home from an eight- to 10-hour workday and then take me to football, baseball, or wrestling practice while my mom took care of my sister, running her to cheerleading or other activities. I also remember plenty of weekends helping dad at the various rental properties — you name it, we did it. Sanding floors, mowing the grass, collecting rent, or even the occasional elbow grease of scrubbing units on our hands and knees to get them prepped for the next renter. When I think of how
– Austin Kobilka
These articles are designed to provide general information on the subjects covered. They are not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Patriot Wealth and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.
Investment Advisory Services is 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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The Ultimate Mother’s Day Breakfast Plan
TREAT MOM TO A MAGICAL MORNING
We should all show appreciation for the moms in our lives year-round, but Mother’s Day is the perfect opportunity to do something extra special. For many busy moms, a relaxing, stress-free breakfast in bed is the ultimate treat. But Mother’s Day breakfast doesn’t have to be an over-the-top display or super complicated to prepare. A little planning, a few thoughtful details, and helping hands make all the difference. START WITH A MENU SHE’LL LOVE. Mother’s Day breakfast in bed should be simple but meaningful. Breakfast go-tos like pancakes and French toast are delicious and easy to make, and you can add a parfait or fresh fruit and a cup of freshly squeezed juice for a special touch. If she loves eggs and toast, go in that direction. Preparing Mom’s favorite dish or incorporating ingredients that remind her of a family tradition can take the meal to the next level. PRESENT IT BEAUTIFULLY. You can elevate even a simple breakfast with a few thoughtful additions. Ditch the disposables and use real plates, silverware, and linen napkins. Deliver the breakfast with care on a lovely tray accompanied by a small vase of flowers. Keep everything
organized neatly, and include a handwritten card or note to add a heartfelt message to the meal.
MAKE IT A TEAM EFFORT. Get the whole family involved — minus Mom, of course! Even young kids can pitch in by spreading butter, arranging fruit, or folding napkins. Older kids can help out more with the actual cooking. To make Mother’s
Day morning stress-free for everyone, do prep work the night before. Chop fruit, prepare the coffeemaker, and premix the pancake batter. And don’t forget the cleanup. Working as a team to wash dishes and put things away will ensure a dirty kitchen doesn’t ruin Mom’s special day when she gets up. Remember, you don’t have to prepare the perfect meal to make Mother’s Day memorable. It’s all about showing your love and appreciation. The holiday is an opportunity to bring the entire family together to create a special moment for the most important woman in your life.
Fortunes Beyond 40 TALES OF MIDLIFE-MADE MILLIONAIRES
LATE-STAGE LADY GAME-CHANGERS After careers in figure skating and publishing, Vera Wang was already 40 when she decided to try her hand at fashion. Today, this aesthetic trendsetter has dressed everyone from Chelsea Clinton to Ivanka Trump and has earned $500 million from her midlife professional makeover. Homemaker extraordinaire Martha Stewart, meanwhile, didn’t begin building her massive media empire until her 1982 book “Entertaining” became a hit when she was 40. Now 83, the entrepreneur’s wealth is estimated at around $400 million. THE BELATEDLY RICH BEATLE From 1964 to 1970, The Beatles were unquestionably the biggest band in the world. Thanks to many legendary hit singles and some of the most inventive albums ever recorded, the world couldn’t — and still can’t — get enough of John, Paul, Ringo, and George.
Just as The Beatles were poised for their global breakthrough, the group replaced its original drummer, Pete Best, with Ringo Starr. As Beatlemania engulfed the world, Best struggled with depression, revealing years later that he had once attempted to take his own life. Although he maintained his public profile as much as possible through talk show appearances and live performances with his solo musical acts, his biggest break came more than 40 years after his former bandmates got theirs when they hit the stage on “The Ed Sullivan Show.” In 1995, the surviving Beatles released “Anthology 1,” an extensive collection of pre-fame recordings that included a handful of tracks recorded with Best. While the exact amount that Best received in royalties remains unclear — with the man himself vaguely telling The Irish Times in 2020 that the payoff “wasn’t far short of a million” — it’s safe to say the long-awaited severance package he received at 54 was more than welcome.
Based on the average life expectancy in the U.S., hitting 40 means officially entering middle age. While most of us are well established in our careers and home lives by then, some intrepid future celebrities didn’t even begin to find significant success until entering their fourth decade or later. Here are a few examples that prove it’s never too late to make major money.
But what about Pete?
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When it comes to everyday saving and spending, the little things matter — and your morning rituals and holiday traditions may impede your long-term wealth more than you realize. Here are five surprising things Americans spend money on that add up to shocking amounts over a year. SKIN-DEEP SPENDING Most people like to look their best before leaving the house, meaning the beauty industry is never short on revenue. Women spend nearly $4,000 on cosmetics and beauty services annually. If you think that the ABSENT-MINDED MONEY MISTAKES Surprising Ways We Squander Cash
TAKE A BREAK
makeup industry thrives on one gender alone, it may surprise you to learn that men spend just under $3,000 each year to improve their looks.
WINGS’ IMPACTS ON WEALTH The Super Bowl is arguably the most celebrated sporting event of the year, and it’s also a big day for game-time eating. Between food and other Super Bowl-related purchases, Americans spend more than $17 billion annually to enjoy the one-day festivities. That amount buys a lot of chicken wings!
Creamy Chicken Carbonara Inspired by TheKitchn.com
A REAL-LIFE HORROR STORY
Speaking of annual events, Halloween is another festivity that drains cash. All those little candy bars and other treats that fill the bags of costumed door-knockers add up to more than $11 billion — yes, with a b — in extra costs for American consumers for a single day of spooky fun.
INGREDIENTS • 12 oz spaghetti or linguine • 1 boneless, skinless
• 4 large eggs • 3 oz Parmesan cheese • 4 oz pancetta or bacon, diced • 2 cloves garlic, minced • 1/2 cup pasta water • 1 tbsp chopped parsley, optional
THE HIGH COST OF CAFFEINATION If you like to hit the Starbucks drive-thru each day on your way to work, you may be surprised to learn that your morning jolt drains about $1,100 from your budget over the course of a year. THE DONUT HOLE IN YOUR BUDGET Some things just go great together: peanut butter and jelly, pepperoni and pizza … donuts and that coffee you spend
chicken breast, sliced (8 oz)
• Salt and pepper • 1 tbsp olive oil
DIRECTIONS 1. Cook pasta in boiling water until al dente. Save 1/2 cup of pasta water, then drain. 2. Season chicken with salt and pepper. Heat olive oil in a pan over medium heat, and cook chicken until golden and fully cooked. Remove chicken. 3. In a bowl, mix eggs and Parmesan cheese until smooth. 4. Add pancetta to chicken pan, cook until crispy, then stir in garlic and cook for 30 seconds. 5. Toss pasta with pancetta, then remove from heat. Stir in egg mixture, adding reserved pasta water gradually until creamy. 6. Mix in chicken and garnish with parsley before serving.
more than a grand on annually. More than 9,000 donut shops across the U.S. generate anywhere from $8,000 to $42,000 in monthly revenue — meaning people love spending money on these little indulgences. You can do the math if you’d like, but the biggest takeaway is that consistent donut consumption can lead to empty wallets and calories.
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INSIDE THIS ISSUE Determination Through the Decades PAGE 1
Mother’s Day Breakfast Ideas to Wow Mom PAGE 2 Wealth to Those Who Waited PAGE 2 Creamy Chicken Carbonara PAGE 3 Careless Consumption Costs PAGE 3 Visit the Hawaii of the Atlantic PAGE 4
Escape to the Azores
view larger migratory species, such as the blue whale.
Lagoa Verde (green lagoon). Numerous healing hot springs in Furnas offer opportunities for wellness and relaxation seekers. Ilheu de Vila Franca, a flooded crater islet accessible from the southern shore of São Miguel, offers exceptional visibility of unique marine life, plus snorkeling, swimming, and cliff diving. Wine lovers will enjoy the island of Pico, where vintners produce the islands’ complex volcanic wines. The Azores Wine Company offers tastings, tours, and overnight stays. The island of Santa Maria has the only white-sand beaches in the region. And Faial Island’s bountiful hydrangea gardens have earned it the nickname “The Blue Island.” Foodies will also enjoy famous local foods, including octopus stewed in wine, kale soup, fried mackerel, and fresh yogurt and cheeses. Taken together, the Azores have something to delight any traveler.
The rocky shorelines of the Azores ascend as high as 7,713 feet atop the Ponta de Pico on the island of Pico. The islands’ untamed beauty offers plenty of outdoor activities, from kayaking to hiking. The climate is subtropical, with year-round temperatures ranging from 57 to 71 degrees Fahrenheit. Religious festivals and traditional holidays abound on these predominantly Roman Catholic islands, an autonomous region of Portugal. Beyond that, however, the islands’ culture, dialect, and cuisine vary widely. The largest island, São Miguel, is home to numerous hot springs and Europe’s only two tea plantations. An emblematic nature area, Sete Cidades, includes the famed Lagoa Azul (blue lagoon) and
If a trek through timeless volcanic landscapes dotted with crater lakes, waterfalls, and hot springs, plus access to awe-inspiring marine life sounds inviting, the Azores may be the vacation spot for you! The Azores are an increasingly popular tourist destination, often called “the Hawaii of Europe” for their remote mid-ocean location and volcanic origins. The archipelago encompasses nine major islands 1,000 miles off the coast of Portugal and is one of the best whale-watching sites in the world. Visitors should plan their trip from the end of April to the beginning of May to
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