Take a look at our October newsletter!
OCTOBER 2022
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Life Is Good — Danes Make It Great! MEET GENTLE GIANT WAYNE
If you’re a dog lover like I am, you probably find it hard to imagine your home and family without one. They’re excellent companions who know how to light up a room and bring everyone joy. Add in their loyal, protective, and caring natures, and you’d be hard pressed to find a better addition to the family. In honor of Adopt a Shelter Dog Month, I want to introduce our family’s dog, Wayne. My wife, Rachel, grew up having a family dog, and my family sometimes had one in our home. When I was in college, I adopted a shelter dog named Hailey. Rachel had a Great Dane named Clyde, and we merged the households when we married. Unfortunately, both dogs got older and passed away a few years ago. Life was busy, and our first son, Noah, was born in June 2019. But in February 2020, we heard about a Great Dane who needed rehoming. Rachel has always been a fan of the breed because, despite their size, they’re great family dogs. With one baby in the house and plans for another, having a dog that knew how to be careful and loving with children was paramount.
was just on the tail end of his time as a puppy when we adopted him and has been a gentle giant from day one. Like most of his breed, he’s playful and affectionate but incredibly protective. We know Wayne would do anything to keep us safe, but he’s also a sweetheart, only wanting to be around people and receive lots of love. He gets along very well with Noah and our younger son, Isaac, and he always cuddles with them when they’re sick.
usually a big hit at Home Depot and Lowe’s. He loves walking around, seeing new places, and meeting new people. Other dogs are a bit of a different story — while he gets along with them, the smaller ones tend to nip at him. Wayne is happy to visit breweries and outdoor restaurants with us instead. Having a family pet is also one of the best ways to teach children responsibility. It helps kids understand what it’s like to care for someone and is a great way to introduce chores. Noah is 3 now, and he helps fill up Wayne’s water and food. Thankfully, it’s not usually too much of a messy disaster! We’re grateful to have such a sweet and loyal dog we can count on to love us through thick and thin. If you’re in the market for your own pet, remember plenty of animals in our local shelters need homes. What could be better than saving a life and making a new best friend?
Wayne does have a lot of energy, though! He’s the most active Great Dane I’ve ever seen. He likes to get up early in the morning and go running with Rachel, and the family does a walk in the evening, meaning he gets in about 5 miles per day. That keeps him reserved inside the house and out in public. It was important to us to socialize Wayne properly, and he’s remarkably well-behaved. We’ll take him everywhere he’s allowed, and he’s
It’s hard to believe just how lucky we were. We loved Wayne right away. He
–Wes White
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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Weighing the Pros and Cons of Going Cash-Free What Does a Cashless Society Look Like?
CREDIT AND DEBIT CARDS ARE MORE SANITARY AND CONVENIENT. Cash money is dirty. According to studies, cash carries bacteria, viruses, and germs. It was even found that 79% of dollar bills have traces of cocaine on them! Taking cash out of the ATM and depositing it into the bank can also be a hassle. DEBIT AND CREDIT CARDS MAKE OVERSPENDING MUCH EASIER. When we make purchases with a piece of plastic instead of actual money, it’s easier to think we have access to larger funds. Tangible cash makes it more feasible for most people to stick to a certain budget. FRAUD IS COMMON WITH DEBIT AND CREDIT CARDS. Hackers around the world commonly steal credit and debit card information through online shopping sites, digital wallets, and more. Submitting your card information online is just one of many ways your bank information can be compromised.
Right now, virtual cash and debit and credit cards coexist seamlessly with physical paper cash, and we are able to turn one into the other in a matter of seconds. In fact, many people don’t really use paper money anymore. According to a survey, only 16% of people carry cash on them at all times. While it’s unclear if the physical dollar will ever disappear, there are many pros and cons of going physical cash-free.
ELIMINATING PAPER MONEY IS EXTRA THEFT PROTECTION.
It’s difficult to replace actual paper cash, but when it comes to stolen debit and credit cards, transactions can be canceled and traced, and cards can be replaced. Better yet, through the Fair Credit Billing Act, those who use credit cards are protected. WITH CREDIT AND DEBIT CARDS, BUDGETING AND FINANCIAL PLANNING ARE EASIER. Paper cash doesn’t necessarily leave a paper trail. When transactions are made with credit and debit cards or via digital services, an automatic record of the transaction is created, making it easy to see exactly where your money is going.
How Will You Pay for Long-Term Care? PLANNING FOR THE WORST
We have all known or heard a story about a 90-year-old who still lives independently with an active lifestyle — and in the back of our minds, most of us imagine we’ll be just like them. But the unfortunate reality is that 70% of adults over 65 will eventually need long-term care. Since October is National Long-Term Care Planning Month, it’s the perfect time to discuss this fraught and sensitive issue. Most people vaguely understand that long-term care is expensive, but they’re typically shocked at the actual numbers once care is needed. Full-time nursing home care can cost around $100,00 per year, and Genworth Financial reported that a home health aide costs an average of $54,912 per year in 2020. While the average person only needs long-term care for around three years, some people will need support for a decade or more. So, how can anyone expect to pay for this? While we strive to ensure our clients have a financial cushion, even aggressive investment strategies are unlikely to produce millions of dollars in surplus for middle-class people. People without means often rely on Medicaid to cover their long-term care costs, but reducing your wealth to meet the eligibility
standards is far from ideal. And Medicare does not cover many types of long-term care.
Saving what you can is the first step. The second is talking with your family, which you may assume would care for you. It’s wise to have this discussion now about what is and isn’t feasible while you’re not in crisis and emotions are not running high. People still in their 40s and 50s can also consider long-term care insurance. Premiums are pricey, and not everyone will be eligible. But many people ultimately sell their homes or take out reverse mortgages to pay for long-term care, so insurance may be a better investment than it first appears. Your financial planner can help you understand how much coverage you might need. There is also good news. Research shows that almost half of people will have no out-of-pocket expenses related to long- term care, and another quarter who recently turned 65 will pay less than $100,000. But we can’t predict who will fall into the category of very high expense. Don’t be caught off-guard. Consider your options now, create a plan, and hope you will not need to use it.
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Many people don’t need an excuse to indulge in a decadent dessert. But if you do, you’re in luck. National Dessert Day is Oct. 14, and we know you won’t want to miss out on the fun. The Raleigh area has no shortage of great spots for a sweet bite to eat, but how do you choose? Here’s our guide to the best desserts in town. BITTERSWEET If you want the best, go to the experts. You won’t find a wider-ranging menu in downtown Raleigh. Bittersweet is dedicated to cocktails, sweets, and coffee. Open late, it’s the perfect place to stop after dinner or before hitting the clubs. Your mouth will start watering when you view the ice cream, cakes, and more available at BittersweetRaleigh.com . Just plan your visit carefully because there’s often a wait. The desserts are just that good! HAYES BARTON CAFE If you don’t have a sweet tooth, this is also a nice casual place to drop in for lunch or dinner. But we’re talking about dessert, and Hayes Barton Cafe in historic Five Points has more than its fair share on offer. Their specialty is cakes, pies, and tortes, and they rotate through dozens of options — which means you’ll need to visit many times to sample all of their offerings. You won’t mind since the retro diner decor will make you feel right at home. Get your mouth watering by checking out some of their offerings at HayesBartonCafeAndDessertery.com . INSOMNIA COOKIES What’s your favorite cookie? There’s a good chance they have it on offer at Insomnia Cookies, known for its dedication to delivering freshly baked cookies late into the evening. Chocolate chip, snickerdoodle, chocolate chunk, and vegan options are all available. If you want extra indulgence, try an ice cream sandwich or a side of buttercream for dipping. While their late hours make Insomnia perfect for college students and others with late-night cravings, you don’t have to wait until the wee hours to get a treat. Place your order at InsomniaCookies.com ! Just Desserts THE BEST SWEET TREATS IN RALEIGH
SMALL TRANSACTIONS CAN BE TOUGH. Have you ever tried to purchase a pack of gum at a gas station with your debit card and the merchant told you there is a minimum debit card purchase amount? Has a restaurant only accepted cash? Some vendors don’t want the merchant fees or still don’t have the means to accept cards as payment. The pros and cons certainly stack up against each other, but what do you think? They say cash is king, but will it ever be dethroned?
Creamy Parmesan Orecchiette Inspired by PinchOfYum.com
INGREDIENTS
For pasta: • 16 oz orecchiette • 3 cups cubed butternut squash • 3 cups broccolini • Olive oil • Salt, to taste • Ground black pepper, to taste • Pumpkin seeds
For sauce: • 3 tbsp butter • 2 cloves garlic • 1–2 tsp fresh minced thyme • 3 tbsp flour
• 2–3 cups chicken broth • 1/4 cup Parmesan cheese • Lemon juice, to taste • Salt, to taste
DIRECTIONS
1. Cook orecchiette according to package directions. 2. On 2 baking sheets, place veggies. Drizzle with olive oil, salt, and pepper, and roast at 400 F for 20–30 minutes until tender. 3. In a pan, melt butter over medium heat. Add garlic and thyme, then sauté until soft. Add flour and whisk until smooth. Pour in the chicken broth 1/2 cup at a time, whisking to incorporate. Finish with Parmesan cheese, lemon juice, and salt. 4. Toss everything together. Top generously with pumpkin seeds and Parmesan cheese.
Did we miss your favorite spot? Let us know! We’re always game to try out a new dessert destination.
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INSIDE THIS ISSUE
Wes’ Favorite 4-Legged Friend PAGE 1
Cash vs. Card PAGE 2
What Is Your Long-Term Care Plan? PAGE 2
Creamy Parmesan Orecchiette PAGE 3
Local Ways to Satisfy Your Sweet Tooth PAGE 3
3 Picture-Perfect Destinations PAGE 4
Fall in Love With the Scenery! 3 PLACES TO TRAVEL THIS SEASON
2. YELLOWSTONE NATIONAL PARK, WYOMING
Fall is the perfect time to plan a scenic vacation. You can find lower prices and fewer crowds at many popular destinations right now. Best of all, the views are incredible. From the changing colors of leaves to sunsets and mountains — a picture-perfect getaway awaits you! Here are three popular destinations to fall in love with this season. 1. ASHEVILLE, NORTH CAROLINA Everyone can find something to enjoy in the mountains of the Carolinas. You can drive the Blue Ridge Parkway or hike the Appalachian Trail for breathtaking views of mountains and sunsets. For history fans, get lost at the Biltmore Estate and learn more about the Vanderbilts. If you’re a fan of the nightlife, Asheville is known as Beer City USA, with more than 30 breweries and over 100 local brews.
The wildlife in Yellowstone is active in the fall, so you’ll get a chance to see bison, elk, and eagles during your stay. You may even observe bears preparing for hibernation. If you love to be outdoors during the cooler months, then you will love biking, fishing, and hiking here during the fall. However, be aware that some roads will close for the winter in mid-October, so review park information ahead of time for accessibility. 3. SEDONA, ARIZONA It may be too hot to visit Arizona during the summer, but the fall months are perfect because the temperatures drop somewhat. If you love to see trees bursting with colorful leaves, hike the Baldwin Trail and Cookstove Trail. Sycamore, oak, and maple trees will shade you with their colorful canopies.
Also, each year, the city holds a Day of the Dead celebration you can attend at the Tlaquepaque Arts & Crafts Village in late October. These are only three of the many breathtaking destinations you can visit this season. For more locations, go to TravelAndLeisure.com/trip-ideas/fall- vacations/best-fall-vacations. So, what are you waiting for? Book your trip now, and don’t forget to pack a camera to capture the picture‑perfect views!
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