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DECEMBER 2019
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NOAH’S FIRST CHRISTMAS!
CELEBRATING THE HOLIDAYS WITH OLD AND NEW TRADITIONS
It’s been about six months since Rachel and I welcomed our first child, Noah, into this world, and I’m amazed at how he changes every day. Sometimes, I’ll come home and realize he’s
Coincidentally, Rachel and I both celebrated Christmas Eve growing up by opening one gift that evening. We all remember just how magical Christmas was as a kid, yet, somehow, that tradition
Vacation,” but I also enjoy “A Christmas Story,” “The Santa Clause,” “Elf,” and “The Polar Express.” There’s nothing quite like these movies to put you in the holiday spirit. I have many fond memories of the holidays, but I particularly enjoy one tradition Rachel and I have created for ourselves. Around mid-November, Rachel gets the itch to turn on the Christmas music. She’s usually able to hold off until after Thanksgiving when we begin decorating our home for Christmas. We turn on classic holiday music, order some Chinese take-out food, and make our home as festive as possible. We throw lights on the outside of the house and fill in the yard with all sorts of crazy inflatables. We set up the Christmas tree and deck it out. This year, a few gifts for Noah will be underneath the tree, too. For years, this has been our special way of welcoming Christmas to our home, and I cannot wait to see how Noah’s presence makes it even more special.
learned something new or developed a new trait, and I can’t wait to see how he grows each day. I’m already picturing the Christmas mornings when he comes running into
made Christmas Eve feel even more special. And every year, that gift would be a new pair
of pajamas. Rachel and I continue that tradition, and we even used to get matching pajamas
the living room, sheer joy on his face as he marvels at all the presents Santa brought him.
for our dogs! This year, Noah gets his first set of
Christmas PJs.
Of course, I can’t talk about the holidays without referencing a few staples. For example, my mom always makes buckeyes for the holidays, which, if you have never had buckeyes, you are doing something wrong! Buckeyes are peanut butter balls dipped in chocolate — a simple treat in many respects, but that’s what makes it so good! And then there’s the rotation of the five classic Christmas movies we enjoy. Ever since I was a little kid, I’ve felt compelled to watch “National Lampoon’s Christmas
As we prepare for Noah’s first Christmas, it’s exciting to see how he will become involved in the holiday traditions we have created. I can’t wait to teach him about the reason we celebrate Christmas and attend Christmas Eve church services together as a family. Including our faith, Rachel and I have brought a few holiday traditions from our childhoods into our marriage and young family, but, over the years, we have developed a few of our own, too.
Happy holidays to you and your family!
–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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THERE’S NO EXPIRATION DATE ON ENTREPRENEURSHIP THE JOYS OF STARTING A BUSINESS AFTER YOU ‘RETIRE’
As a nation, America is getting older. By 2030, 20% of Americans will be 65 or older. With people living longer than ever before and the baby boomers approaching retirement age en masse, older adults will continue to have a massive impact on the American economy at large. Normally, we think of seniors as people who cash in on the hard work they’ve already accomplished. Many young people even worry Social Security will be wiped out by the time they reach retirement age. But who’s to say older adults can’t contribute to the economy? If you’ve ever tried to change jobs late in your career or pick up some part- time work after retirement, you know it’s hard to be hired as a senior. Quartz recently called seniors “the economy’s
most underused natural resource.” Until more employers understand the value and potential of older workers, entrepreneurship remains the most viable avenue for seniors wanting to work after their primary career has ended. There are a number of reasons why seniors find creating their own business to be rewarding and why they tend to succeed when they do. Unlike younger people, who often become business owners in an attempt to make a fortune, older entrepreneurs can be content with small, sustainable micro-businesses. They also approach their businesses with a wealth of experience that can’t be purchased. As a result, 70% of ventures founded by older entrepreneurs are still open five years
later, more than double the rate of the general population.
With so much potential to be found in senior-run businesses, it’s no surprise that organizations are rushing to empower older adults with the tools they need to succeed. Senior Planet, a coworking space for seniors with outposts nationwide, teaches classes on skills like website creation in a space that makes older learners feel welcome and comfortable. On top of being an important economic driver, entrepreneurship can be a wonderful way for seniors to generate meaning and value in their lives. It’s never too late to start the business of your dreams.
TO MOVE OR NOT TO MOVE AND HOW YOUR FINANCES MIGHT AFFECT THAT DECISION
The last few years in the U.S. have seen a fascinating trend of population decline in large metropolitan cities. Places that have had a steady influx of residents looking for opportunities, like New York or Los Angeles, have all seen their residents moving to other cities across the country at a higher rate than average. Nearly 20% of all states overall reported a population decline in the last two years. So, where are all these people going? While topography, climate, and proximity to family and friends play a large role in a person’s decision to move, a major contributing factor is also the cost of living. Many people are willing to overlook severe weather if it means they can spend significantly less on buying a home. Or, for those new to the workforce, if a smaller percentage of their income goes to housing, transportation, and
essentials like food, they make employment decisions in conjunction with those factors.
But what does this trend mean for you? Overall, it means right now is a great time to start prioritizing what matters to you most, and figuring out the financial situation you need to be in to get yourself there. Maybe you’ve discovered big-city life isn’t for you and you’re ready to join the movement. Maybe you’re ready to oppose the trend of metro decline and need to figure out, from a financial standpoint, if a move of that caliber is right for you. Let’s look right here in Raleigh. It’s one of the faster- growing cities in the state. It’s a popular retirement location, and experts point to its low cost of living, low home prices, moderate climate, and a growing cultural scene as attractors for all ages. It’s seeing a steady incline of population, and this means the possibilities for this city are endless. But does that mean it’s also on the road to eventual population decline? Whatever the case, you should be ready to make the financial decisions that will keep you happy no matter where you end up. Patriot Wealth Management is here to help so give us a call.
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There’s something about this festive season and all it represents that makes us want to shower our loved ones with gifts. Some of us are even guilty of indulging in deals for ourselves during this time. It’s easy to spend beyond your means at this time of year, so we want to give you some quick tips for staying smart with your shopping. DON’T LET HOLIDAY SPENDING PICK YOUR POCKET MIND YOUR WALLET Start by taking a look at your finances to see what you should reasonably be spending. Write a list of all the people you intend to buy for, like kids, grandkids, friends, and coworkers, then set a dollar amount for each. Don’t forget to include small items like stocking stuffers. Once you’ve bought a gift for someone, cross them off your list and move on. Paying with cash will also keep you to a fixed amount, whereas a credit card will tempt you to spend beyond your budget. It pays to know where and when the best deals will be. Go online to check prices before heading to the store. Some retailers might offer coupons or specials to download. If you’re shopping online, use price-comparison sites like RetailMeNot.com or JoinHoney.com to find the most competitive prices. Also, keep in mind that some of the best deals on big-ticket items like electronics might occur as late as one week before Christmas. Every aspect of your holiday shopping costs should be accounted for. That includes wrapping supplies, holiday cards, and mailing costs. This is also a good time to think about all your other holiday costs that aren’t necessarily related to gift-giving but will still chip away at your wallet. Things like decorations, travel, festive food, party supplies, and charitable donations can start to rack up and affect your budget for gifts. Every little bit counts when you’re trying to manage your money. Some of the highest spikes in spending happen during the holiday season, so don’t let it get the best of you. As always, Patriot Wealth is here to help you make smart decisions at any time of year. FACTOR IN EXTRAS SET A BUDGET DO YOUR RESEARCH
POTATO LATKES
INGREDIENTS
Inspired by The New York Times
• 2 large russet potatoes, scrubbed • 1 large onion, peeled and cut into quarters • 2 large eggs • 1/2 cup all-purpose flour
• 2 tsp kosher salt • 1 tsp baking powder • 1/2 tsp black pepper • Safflower or vegetable oil, for frying
DIRECTIONS
1. Using either a food processor with a coarse grating disc or the coarse side of a box grater, grate potatoes and onion. (If using a food processor, halve or quarter potatoes.) Once grated, wrap in a clean dish towel or cheesecloth to wring out as much moisture as possible. 2. Transfer to a mixing bowl and mix in eggs, flour, salt, baking powder, and pepper. 3. Heat a heavy-bottomed pan containing 1/4-inch of oil over medium-high heat. Use a heaping tablespoon to drop batter into the hot pan, working in batches. Use a spatula or spoon to form them into discs. Fry about 5 minutes per side, until deeply browned. 4. Transfer to a paper towel-lined wire rack to drain, and serve alongside applesauce and sour cream.
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INSIDE THIS ISSUE
Wes and Rachel Prepare for Noah’s First Christmas! PAGE 1
The Power of Senior Entrepreneurship PAGE 2
What Do Changing Populations Mean for You? PAGE 2
Potato Latkes PAGE 3
Smart Holiday Spending PAGE 3
Yurts: Glamping at Its Finest PAGE 4
YURT SWEET YURT GLAMPING IN BEAUTIFUL LOCATIONS
SPRUCE HOLE YURT, COLORADO
The allure of the great outdoors calls to many, but pitching a tent and cooking over a fire isn’t for everyone. If that describes you, consider the yurt: a small, permanent structure often outfitted with electricity, plumbing, and other modern amenities. Expertly nestled in remote locations, they provide comforts of home in the midst of nature. Here are just a few around the United States available for rent.
Nestled in the San Juan Mountains about 10 miles north of New Mexico, this yurt is a snow-lover’s paradise. Skiing, snowshoeing, and hiking trails are plentiful in this backcountry location. At the end of a chilly day, come home to comfy beds, cooking supplies, and decor made to feel like you’re camping — but with sturdy walls to keep out the cold.
TREEBONES RESORT, CALIFORNIA
FALLS BROOK YURTS, NEW YORK
For those new to the glamping scene, this is a great choice for an easy transition. With picturesque views of the Pacific Ocean, the Treebones Resort in Big Sur has an array of spaciously comfortable yurts to choose from. The resort has heated pools, a cozy lodge, and even a sushi bar. About an hour up the coastline, you can find a few shops, restaurants, and art galleries if you decide you’ve gotten your dose of nature for the day.
For the glampers who truly want to get away, hike just under 1 mile into the woods of the Adirondack Mountains to discover rustic yurts beckoning you to cook over a fire or bundle up with a book. At night, the yurt’s domed skylight offers excellent stargazing. For those keen on winter activities, skiing and snowshoeing trails start right outside the front door. In the summer, enjoy hiking, fishing, and swimming.
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