Take a look at our June newsletter!
JUNE 2023
PATRIOTWEALTHNC.COM PHONE | 919.322.4113
PATRIOT WEALTH
Of course, I could only use the internet if no one else in the house was using the phone. My older sister was a teenager and seemed to talk with her friends for hours at a time, and we had many sibling struggles over who gets access to the phone line. It was a gift to both of us when our parents got her a private phone line for her 13th birthday! I could chat with my friends on AIM for hours without interruptions — at least, until my parents decided I’d spent enough time on the computer for one day. Technology continued to advance, and I got my first cellphone as a freshman in high school. It was a Nokia, and I could switch out the faceplate to ensure I always had the coolest one. There was no unlimited texting back then, so every single message would cost you. Whenever possible, I’d sit in the back of the classroom at school and sneak in a game of Snake. Mobile gaming has come a long way! Fast forward to today where innovations like artificial intelligence has emerged as a game-changer in the world of technology. It enables machines to learn and make decisions on their own. From voice assistants to self- driving cars, AI powered technologies are really neat and scary all at the same time! It’s funny to think that someday, our kids will tell the same stories about the technology we all happily use today. I can’t wait to see what the future holds for electronics, what will be cutting edge, and what will be hopelessly outdated. As I never imagined smartphones while using AIM, tomorrow’s tech will probably be something we never expected. I had a lot of fun getting nostalgic about all my old devices, so for National VCR Day on June 7, I encourage you to get in on the fun. What are some of your favorite old electronics? Send us an email at Info@patriotwealthnc.com to let us know! Whether you most fondly remember your old Walkman, rotary phone, pager, or iPod, we’d love to share your trip down memory lane.
My Favorite Hopelessly Outdated Technology
Technology is ever-changing, and innovation is always just around the corner. The smartphone I use every day will probably be laughable a generation from now. Over the years, there have been numerous advancements that have revolutionized the way we live, work, and communicate. I still remember sending my first text messages. They weren’t on my phone but on AOL Instant Messenger (AIM). During my middle school years, I always looked forward to logging on in our family computer room (another relic!) and chatting with my friends. Connecting to the internet was a challenge, and I don’t think anyone who lived through the dial-up internet years will ever forget how long it took to get online or the awful, screeching sound the modem made.
–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.
PATRIOT WEALTH | 919.322.4113 | P1
Cut the Financial Umbilical Cord How to Raise Fiscally Responsible Adults
Adulting is all about doing your own laundry, cooking, and grocery shopping. It means making informed decisions about time management, organizational skills, and understanding how to be financially responsible. But how do you teach your teenager financial responsibility? Let’s explore five important lessons your child needs to gain financial independence! HELP THEM FIND OPPORTUNITIES TO EARN MONEY. Before your teen can learn to properly manage their finances, they must first make their own money! If they don’t have a job, encourage them to begin the hunt. If your teen is still too young to hold a job, consider paying them for chores around the house or yardwork. Once your teen has a cash flow, you can then teach them how to separate it into spending money and cash to save. OPEN A BANK ACCOUNT. If your child doesn’t have a bank account yet, it’s time to set up a checking and savings account for them. It’s a great way to provide them with financial independence while they still
have access to your guidance. While credit cards can be scary to trust your learning teenager with, you should consider a prepaid credit card they can use to learn the ins and outs of how credit cards work while still having a safety net to protect their credit.
INTRODUCE THEM TO THE CONCEPT OF INTEREST. Interest can be beneficial or a disastrous hindrance, so your teen needs to understand
how it works. While it can be beneficial for certain savings accounts, it can wreak havoc on credit card debt. Demonstrate interest with different real-life scenarios to show your teen how they can grow their money or rack up tons of debt. Whether your teen has just started earning their own money or is preparing to handle finances on their own, these simple tips can help you start training a fiscally responsible adult.
SAVING, SECURITY, AND SPLURGING 3 ESSENTIAL FACTORS OF A FINANCIAL PLAN
June 18 is National Splurge Day — perhaps an odd holiday for a financial planning and wealth management firm to celebrate. After all, we’re usually in the business of saving, investing, and growing your wealth, not spending it. But money is made to use, and the ability to splurge should be one of your end goals. Everyone who creates a financial plan is seeking security. Our clients want to know they’ll be able to care for themselves and their families in the future. They all aim for a comfortable life where they can support themselves in retirement and feel free of worry about future health care and long-term care costs. They want to feel confident it will be there when money is needed.
Fortunately, splurges are good for us as long as they’re part of a larger financial plan. We all deserve indulgence, and people splurge for many reasons, including self-care, convenience, and pleasure. Whether it’s a fancy coffee from a cafe or front- row seats to a concert, a splurge is something you don’t need that will bring you joy. And it’s a healthy act — when you can afford it. The income plans we create at Patriot Wealth aim to balance your financial security with spending that will help you live a happier life. The definition of “luxury” will look different for everyone, but every plan should have some wiggle room to allow people to do what they enjoy. Finances are a balancing act between what we need and want, and leaning too heavily on one side will always end in regret.
At the same time, few people want to spend their lives counting pennies. They’d prefer to pursue their passions. Some people aim to travel to far-flung
We all save for security, but we should go further and have goals that excite us and give us purpose. The ultimate goal of saving money should be to spend it someday. But we must do so consciously and with a plan in mind.
locales. Others want to build a paradise at home, indulge in hobbies, or enjoy unique experiences. All of those goals require spending money — sometimes, a lot of it.
P2 | PATRIOTWEALTHNC.COM
AMERICAN BEAUTY
We are fortunate to live in such a gorgeous country. June 5 kicks off America the Beautiful Week in 2023, celebrating one of the nation’s most famous and moving patriotic songs. The tune endures because its lyrics ring true, and we have more than our fair share of beauty in Raleigh. We’re sure you have your favorites, and we’ve shared some of ours below. DOROTHEA DIX PARK We’ve featured this location in the newsletter before, but it’s beautiful enough to mention again. Families can enjoy the wide open space of the Big Field, enjoy the shady trees of the Grove while taking in the Raleigh skyline, or relax on the grass of Harvey Hill. But our favorite spot at Dorothea Dix Park is undoubtedly the Sunflower Field that blooms every July. The sea of yellow flowers is a sight to behold, so don’t forget your camera. HISTORIC YATES MILL COUNTY PARK This 174-acre park in Raleigh is a native wildlife refuge where the family can learn about local history. Mill Pond Trail is the perfect place for a scenic stroll, and those with fishing licenses can cast a line out on the water. Other trails follow a creek and wind through the forest. But the real star is the Yates Mill built in 1756. Experts have restored the building and made the mill fully functional. Visitors can view the original equipment, learn about the continuous milling process, and watch demonstrations for a small entry fee. Meanwhile, the outside of this historic facility makes for a picturesque photo opportunity you won’t want to miss. THE RALEIGH ROSE GARDEN If you didn’t get enough frolicking through the flowers at Dorothea Dix Park, the rose garden behind the Raleigh Little Theater is a must-see. It’s one of only three accredited rose gardens in North Carolina, featuring 60 flowerbeds with multiple rose colors and species. Visitors can also enjoy a fountain, arbor, and stone shelter and take in the other perennials and trees on site. Entry is free, and the roses usually stay in bloom until November. So, stop and smell the roses! OUR FAVORITE SCENIC SPOTS IN RALEIGH
TAKE A BREAK
Goat Cheese and Thyme Stuffed Chicken
INGREDIENTS • 2 skinless, boneless chicken breasts
• 4 pieces of thin-sliced bacon • Olive oil • 2 zucchinis, thinly sliced • 1 large tomato, thinly sliced
• 3.5 oz firm goat cheese • 1 tsp fresh thyme leaves, plus 2–3 sprigs
DIRECTIONS
1. Preheat oven to 375 F. 2. Split the chicken breasts almost in half along the long side, open them like a book, then flatten the sides out. 3. Put the goat cheese on the “open book” side of the chicken and sprinkle with thyme leaves. Fold the chicken over to enclose the cheese, then wrap each breast in 2 slices of bacon. 4. Lightly oil a shallow gratin or casserole dish, then arrange overlapping rows of zucchini and tomatoes on the bottom. Drizzle with olive oil, sprinkle with salt and pepper, then set chicken on top. Place thyme sprigs on chicken. 5. Bake for 40–45 minutes until the bacon is crisp and golden and the zucchini is tender.
Inspired by BBCGoodFood.com
PATRIOT WEALTH | 919.322.4113 | P3
PATRIOT WEALTH 4350 Lassiter at North Hills Ave. #330 Raleigh, NC 27609
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
PATRIOTWEALTHNC.COM PHONE | 919.322.4113
INSIDE THIS ISSUE
Wes Gets Nostalgic for Old Tech PAGE 1
Top Tips to Teach Financial Responsibility PAGE 2
Is Spending the Goal of Saving? PAGE 2
Goat Cheese and Thyme Stuffed Chicken PAGE 3
Raleigh’s Most Beautiful Places PAGE 3
Lions and Tigers and Bears, Oh My! PAGE 4
MONKEY AROUND THIS SUMMER Check Out Some of America’s Best Zoos
Summer is one of the best times of the year to travel. Kids are out of school and want to do something fun every weekend, which can be difficult to accommodate if you’ve already exhausted your local options. If you’re looking to travel, you can visit a beach, take in the sights and sounds of an amusement park, or spend some time with animals while visiting a zoo. Nearly every state in our country has a handful of zoos or aquariums, but some stand above the rest.
to view animals in America. Opened in 1899, the Bronx Zoo is responsible for many of the advancements relating to animal captivity. This was one of the first zoos to ditch cages for natural environments and create an animal hospital. With over 6,000 species, there’s an animal for everyone at the Bronx Zoo. THE LIVING DESERT ZOO AND GARDENS While the San Diego Zoo is often boasted as California’s largest and best zoo, another zoo is worth checking out. The
d
Here are three of the best zoos you can visit in the U.S.
Living Desert Zoo and Gardens outside Palm Springs has entertained visitors for decades. There are events at this zoo every day, one of the most popular being
OMAHA’S HENRY DOORLY ZOO AND AQUARIUM The Henry Doorly Zoo and Aquarium in Omaha, Nebraska, is consistently ranked as one of the top five zoos in the world. It prides itself on hosting rare, endangered animals you can’t see elsewhere. It has the world’s largest nocturnal exhibit, and one of the major highlights is the Desert Dome, an 84,000-square-foot indoor desert that maintains an authentic desert ecosystem. This is a must-visit for any animal lover in your family. THE BRONX ZOO You don’t usually think about seeing exotic animals when you visit New York City, but the Bronx Zoo is one of the best places
the keeper connections and animal encounters, where you get up close and personal with the animals while learning more about
their habitats and lifestyles.
P4 | PATRIOTWEALTHNC.COM
Page 1 Page 2 Page 3 Page 4Made with FlippingBook Ebook Creator