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NORTON NEWSLETTER
THE REAL ESTATE TAX PRO ™
NortonAccountingServices.com 985-640-6072 Info@NortonAccountingServices.com JULY 2023
EASE OF MIND • AVAILABILITY • FLEXIBILITY • INDIVIDUAL APPROACH • EXPERIENCE • TAX SAVINGS OPPORTUNITIES
What Financial Freedom Means SECURE YOUR INDEPENDENCE
Freedom is America’s most closely held value, and we celebrate it spectacularly every year on the Fourth of July. Parades and flags mark the anniversary of our independence, and we rightly give thanks for the liberties we enjoy. But I can’t help but feel that we are not genuinely independent unless we are financially free. We often use the words “freedom” and “independence” interchangeably, but financially speaking, they’re two different things. Many people are financially independent — you probably are. Financial independence is the ability to pay your bills without relying on others. Most self-employed people and those with W-2 jobs fit the bill. But that’s hardly the stuff dreams are made of, and it doesn’t make you financially free. If the job goes away, so does your independence. Financial freedom means you no longer have to work for a living. It should be everyone’s goal to reach that point in their lifetime. And it’s not as difficult as you probably think as long as you follow a few simple financial principles. Most Americans spend more than they make and put the extra on credit cards or consumer debt. That’s the opposite of financial freedom, and it costs people money. But many also don’t need everything they buy. To secure financial freedom, you must consider present versus future value. Let’s use a simple example. Say you spend $3 a day on coffee. It doesn’t seem like much, but it adds up to roughly $100 monthly. You can currently get a savings account with a 4% interest rate. If rates were to stay the same, that $100 a month would add up to over $69,000 over 30 years. And if you invest that same $100 in a higher-yield instrument like real estate that generates 15%, you’re instead looking at nearly $700,000 over 30 years. That gets you closer to financial freedom. Real estate is the most straightforward path to financial freedom. If you have a W-2 job, there’s a loan program for you. You can take out a mortgage, rent the property, and create an income stream while tenants pay the loan off. But to get to that point, you must stop buying objects that won’t hold their value and start investing.
I urge business owners to wake up every day and ask how they can increase their income (or decrease their expenses) by $20. For employed individuals, a more realistic goal might be $5. It will add up. Determine how much you make, how much you’re spending, and how you can get your spending total below your income total. Then, begin paying off consumer debt like credit cards and car notes with the extra money. Once you have a positive income stream, it’s time to start investing that money and making it work for you.
Financial freedom is a lifetime endeavor, but it’s entirely possible with the correct strategies. I’ll teach some of them in my upcoming coaching program, which will launch in early 2024. But in the meantime, you can do plenty to move yourself along the path to a more financially free life. Happy Independence Day!
–Bob Norton
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We’ve all heard the warnings about sun damage and know sunscreen is our best protection. But you’re not alone if you hate the texture, greasy feeling, or white residue that traditional sunscreen leaves behind. So, the promise of an alternative is exciting, and powder sunscreen has attracted much attention. But does this newcomer on cosmetic store shelves really save you from damaging rays? The reasons people feel drawn to powder sunscreen are obvious. The product works like a powder foundation; many brands even come with a built-in brush for easy portability. The application seems simple, and users love that it doesn’t affect their makeup. The ingredients may also be gentler on sensitive skin than the lotions we’ve all used. But powder sunscreen may be too good to be true. The product does not spread like a lotion and blends into the skin almost immediately. These factors make it difficult to see if you’ve missed any spots or applied the powder evenly across your skin. Some areas will likely be more protected than others. More importantly, most people generally use less sunscreen than they should. Getting the SPF protection promised on a traditional sunscreen bottle takes more lotion than you probably apply. That’s even truer for powder sunscreen. While most users gently dab the powder on their faces, proper protection requires a very thick layer. If you thought the shine on your skin from lotion looked terrible, a genuinely protective layer of powder looks far worse. IT MAY BE TOO GOOD TO BE TRUE Does Powder Sunscreen Work?
A NIGHT TO REMEMBER Create the Perfect Stargazing Experience
Many children are fascinated by the mystery and beauty of outer space, but most tend to lose their reverence as they get older. That doesn’t have to be the case! A night of stargazing is the perfect way to spend a romantic evening or have a fun time with your family. But creating the ideal experience isn’t always as simple as stepping outside and looking up. Here are some tips to make the most of an astrological adventure. Pick the right night. All nighttime skies are not created equal. Would-be stargazers must consider the weather and cloud cover. Further, the light from the moon tends to wash out the dimmer sparkle of distant stars, and it’s best to go during or immediately before or after a new moon phase. It can all be complicated, so make it easier with a stargazing forecasting site like GoodToStargaze.com . It will provide all the technical details and a simple “yes” or “no” verdict about the evening’s stargazing suitability. Find the ideal spot. Those who live in rural areas without much light pollution won’t have to go far to see the stars, but everyone else should do a little planning. Scope out a location away from city lights that has an unobstructed view of the sky, and make sure it’s legal for you to go there. You’ll also need a place to set up blankets or chairs for a comfortable and relaxed experience. Bring essential supplies. Don’t ruin the perfect evening by being unprepared! After so much planning, the last thing you want is to be run off by a chilly breeze or some pesky mosquitoes. The summer night in an open space may be cooler than expected, so bring a sweater or jacket. Ensure your clothing and seating are comfortable, and don’t forget bug spray. It’s also wise to pack some snacks and plenty of water. Further, you can step up your game by bringing binoculars or a star map. But remember to take all your goodies home with you. Leave nothing behind so the next amateur astrologists can enjoy their experience as much as you did.
So, is the product useless? Maybe not entirely. Experts say powder
sunscreen’s best use is as a touch-up on top of makeup. Ideally, you should use
sunscreen, wait for it to dry, then apply other cosmetics. While we should reapply sunscreen every two hours for
maximum protection, a high SPF formula will still provide some benefit for longer. Powder sunscreen might make up some of the difference throughout the day without destroying your foundation and eyeshadow. In the end, dermatologists say the best sunscreen is the one you’ll use. If you refuse to use more traditional products, powder sunscreen is better than nothing. Just don’t expect it to provide the same protection as a lotion.
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The Story of the Danish Protest Pig AN UNCONVENTIONAL ‘BACON’ OF HOPE
In the 19th century, Denmark and Prussia couldn’t agree on where to draw their border. Both countries refused to concede or couldn’t reach an agreement on which country would ultimately control Southern Jutland, which today is Germany’s northernmost state called Schleswig-Holstein. This refusal to compromise ultimately led to war, and in 1848, Denmark won control. However, their victory was short-lived, as roughly a decade later, the Second Schleswig War was underway. This time, though, Prussia was victorious.
farmers began to crossbreed their pigs to create a new breed, one that had the same markings as the Danish flag. These pigs were red in color, with one white vertical stripe and one white horizontal stripe. The farmers named their new pigs Protestschwein, or the Danish Protest Pig. This protest pig quickly became the mascot of Danish cultural independence, and their efforts didn’t go unnoticed by Prussian authorities. In 1881, a local Prussian police station sent communications back to the government in Berlin that farmers were breeding strange-looking pigs. However, while they could not prove that farmers were knowingly breeding the pigs to look like the Danish flag, “it was believed that the farmers
After their victory, the Prussian authorities slowly began to move into the peninsula, implementing new laws over the Danes living there. These new
were well aware of this and that this pig represented an affront to the Prussians,” according to records from the Red Holstein Breeders Association. Today, the Danish Protest Pig is recognized as its own breed but has a different name: the Husum Red Pied. And, the now-German state of Schleswig-Holstein supports the protection of this pig due to the cultural significance it offered its Danish ancestors so many years ago.
laws prohibited anything Danish, including all uses of the Danish flag. Needless to say, the Danes were not happy — especially the farmers. These Danish farmers knew they had to protest this oppressive Prussian government, but they couldn’t just publicly wave the Danish flag. So, they got crafty. Danish
TAKE A BREAK
GRILLED STEAK SALAD WITH PEACHES Inspired by Delish.com Ingredients
• 1 lb skirt steak, fat trimmed • 1/4 cup balsamic vinegar • 1 clove garlic, minced • 1 tbsp light brown sugar • 1 tbsp vegetable oil • Kosher salt
• Black pepper • 1/4 cup extra-virgin olive oil
• 1 large lemon, juiced • 6 cups baby arugula • 2 ripe peaches, thinly sliced • 1/3 cup crumbled blue cheese or feta
Directions
1. In a large resealable plastic bag or baking dish, combine steak, vinegar, garlic, and brown sugar. Marinate 20 minutes at room temperature. 2. Remove steak from marinade, coat with vegetable oil, and season generously with salt and pepper. 3. On a grill or pan set to high heat, cook steak until desired doneness. Rest 5–10 minutes, then thinly slice against the grain. 4. In a small bowl, whisk olive oil and lemon juice to make dressing. Season with salt and pepper. 5. In a large serving bowl, add arugula, peaches, blue cheese or feta, and steak. Drizzle with dressing and gently toss.
Barbecue Concert
Independence Larkspur
Shade Stargazing Travel Vacation
Fishing Fourth
Park Pool
985-640-6072 • 3
THE REAL ESTATE TAX PRO ™
Norton Accounting Services, LLC
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
NortonAccountingServices.com 985-640-6072 Info@NortonAccountingServices.com
1527 Gause Blvd. Ste. 132 Slidell, LA 70458
INSIDE 1
Let Financial Freedom Ring
2
How to Stargaze Like a Pro
The Truth About Powder Sunscreen
3
The Swine That Dared to Defy
Grilled Steak Salad With Peaches
4
Help Kids Learn While They Earn
WHAT YOUR SUMMER GARAGE SALE CAN TEACH YOUR KIDS
A summer garage sale is a tried and tested way to earn a little cash while eliminating things you no longer need. But it’s also the perfect opportunity for parents to teach their children a few life lessons. Making your garage sale a family project can teach kids about organization, money management, and the pride of a hard day’s work. The lessons start immediately as your family determines what they no longer need. Younger children, in particular, often struggle to part with their possessions. A garage sale is an opportunity to discuss what they use, what they don’t, and why we can’t keep every object we own forever. This process will teach kids organization as they create their “keep,” “sell,” and “toss” piles. On the big day, your children can also play a significant role in organizing and displaying your merchandise. Kids can help determine which
items should share a table and what should be front and center to catch buyers’ eyes.
Whether or not you give your kids a cut of the earnings is up to you. But even if they don’t end up with fatter pockets, your children will walk away from the family garage sale with lessons that will last longer than any extra cash could.
Math and money management also play a pivotal role in any successful garage sale. First, you must determine what the items you’re selling are worth. While letting your kids set prices is probably unwise, you can help them understand market value and what people will pay for used merchandise. Your children can take a more active role in the sale itself. Depending on their ages, they can gain valuable experience making change for customers or negotiating a deal on the items for sale. The best part of using your garage sale as a learning opportunity is that your children can personally experience the value of hard work. They’ll watch their old possessions disappear and the cash trickle in. More than anything, they’ll probably love adding up the day’s takings.
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