Take a look at our May newsletter!
119 Old State Rd., Ellisville, MO 63021 THE WEALTH ZONE URBAN LEGENDS: FINANCE EDITION Don’t Fall for These Common Misconceptions! CapitalAdvisoryGrp.com May 2023
Growing up, my friends and I shared urban legends and various ghost stories with one another. I remember how we created a makeshift tent with bed sheets in hopes that the thin material would protect us from the terrifying stories we shared. We talked about Bigfoot sightings, ghosts that haunted nearby towns, and whether or not our friends saw Bloody Mary in their bathroom mirrors. There was something so eerie about these stories — even if they were fables! It seems as though every country has urban legends that are unique to its culture. It’s fascinating to compare these stories to the tales we’ve heard while growing up. As I think about these stories and experiences, I realized that the financial world has many urban legends people may believe in. While they may not be as scary as the tales we shared as children, they can still impact your life!
Myth No. 1: You should borrow from your 401(k) when you need money. Some people may believe that because you don’t have to pay income taxes on the money in your 401(k) and since your interests will be reinvested, you can borrow funds from that account when needed. While you can borrow money from your 401(k) to make a down payment on a home or pay for college, it’s not the best idea. This option has a massive flaw — you’re borrowing pre-taxed dollars and paying the loan back with after-tax money. When you decide to withdraw your savings once you retire, that money will be taxed again, meaning you will pay taxes twice on your money. But that’s not all. If you quit your job, are laid off, or are fired, you must pay the loan back. You typically have around 60 to 90 days to repay the loan. If you’re unable to do so, the outstanding balance will be a taxable distribution. Additionally, you will receive a 10% early withdrawal penalty if you’re under 59 years old.
Here are two myths about your finances that you need to be aware of so you can keep more of your wealth.
Have You Heard Us on the Radio Yet? Tune in to KTR 550 AM radio every Saturday from 3–4 p.m. as Jeff Zufall and Josh Gilbert discuss all things taxes and
financial planning. From innovative strategies to optimize your benefits to breaking down proposed and current legislative measures, Jeff and Josh guide
you through today’s most pressing topics in the financial world. If you have financial or tax questions you would like answered during our radio show, please email your questions to Jeff@CapitalAdvisoryGrp.com.
Continued on Page 3 ...
(636) 394-5524 1
Published by Newsletter Pro • www.NewsletterPro.com
On the night of New Year’s Eve in 2014, a group of burglars experienced the fright of a lifetime. Expecting to rob a quiet home in Derby, England, the intruders instead came face to snout with Ludwig, a 240-pound potbellied pig. Abandoning all thoughts of crime once they spotted the pig, the burglars instantly fled the scene and ran for their lives. INTRUDERS FLEE FROM LUDWIG THE PIG A HAM-FISTED ATTEMPT AT ROBBERY
The Kids Have Flown the Nest AN EMPTY NESTER TRAVEL BUCKET LIST
As summer approaches, kids will be graduating and heading off to college, leaving you as a first-time empty nester! Traveling without the kids can be a bit strange, but what better way to welcome a new chapter in your life than to head out on some great adventures? Here are some of the best destinations to consider as a new empty nester. Alaska Has Alaska been on your bucket list forever, but weekends spent shuffling the kids to sports games and extracurricular activities always took priority? Now is the time! Whether you explore Alaska’s vast wilderness by sea or on land, the experience will be magical. You can go whale watching, witness the aurora borealis, or take in the majestic glaciers — the views alone make the whole trip worth it. Hawaii Unless you live on the West Coast of the U.S., a flight to Hawaii is typically long — factor in kids, and it’s even longer! That’s why Hawaii is one of the ultimate destinations once the kids have moved out. Year round, there is so much to do; you can hike through waterfalls, visit the beaches, rent ATVs, enjoy breathtaking sunsets, and even visit volcanoes. Paso Robles, California Sure, Napa Valley is famous for vineyards and magnificent wines, but Paso Robles has a quaint small-town charm, making it the perfect destination to visit and celebrate your kids finally going off on their own. With tons of vineyards and tasting rooms, breweries, and eateries, you are bound to have a fabulous time. The Grand Canyon, Arizona While you may have taken the kids to see the Grand Canyon when they were younger, it’s time to return and rekindle the romance as empty nesters. Not only is it great to reminisce on past family trips, but scenic helicopter tours and champagne brunches on the floor of the Grand Canyon also feel a bit more intimate without the kids around. It can feel bittersweet after your last child leaves the house, but with these vacations and adventures planned, you’ll be thrilled to embark on your empty-nester journey!
The “hero ham” had already become a popular figure in his town and was well-loved for his gentle demeanor. In fact, Michael Maughan, Ludwig’s owner, is confident that Ludwig wouldn’t have harmed the intruders, even if he does look quite intimidating. Local officers believe the robbers must have heard Ludwig’s Rottweiler-like “growl” and immediately hit the road, leaving the door
wide open behind them.
The story of this heroic potbellied pig became a sensation throughout Europe. Countless fans have applauded the Canadian-born hog for his loyalty to his owners. But the owners want to ensure people understand that Ludwig would never hurt anyone. Some fabricated web stories made Ludwig sound more dangerous than he is, so Maughan spoke to the Toronto Star to dispute any defamations against Ludwig’s kindness. “He’s being painted as a vicious creature when he’s actually quite a sweet animal,” he explained. “He didn’t exactly bare his tusks and charge, I don’t think. I think he got absolutely, ‘Arrgh,’ and they just ran for it.” In fact, Maughan detailed that after a two-month separation during their move to England, the pig shed tears during their reunion. Adorable and affectionate, Ludwig would have probably become friends with the intruders in no time. Even if his “bark” is worse than his bite, Ludwig succeeded in keeping his owners safe while also protecting their home. This 240-pound potbellied pig continues to enjoy his comfortable home in Derby and is considered a town hero. Anyone looking for a guard dog may want to consider a hefty hog instead!
2
CapitalAdvisoryGrp.com
It’s Best to Start While They’re Young! TEACH KIDS HEALTHY FINANCIAL HABITS
Good financial habits are something you have to learn and practice. Just think about the routines you have in place and the knowledge you have about specific topics. This information and insight didn’t develop in a vacuum — you had to learn about these areas! As adults, we have had years to form these habits, but our children and grandchildren may not understand the value of money and how it affects their lives.
total of how much money is in the jar and ask your child or grandchild to assist you.
For Older Children and Teens Sometimes kids don’t realize how much money it costs to purchase groceries and other products. To help them understand how to budget and analyze their options, provide them with spending money they can use at the store. As they pick out what they want, you can help them develop smart spending habits such as balancing wants and needs, comparing prices, looking for sales, and more. You can also open a student bank account for your child. The best part is that your name will be on the account so you can oversee their finances. If you notice different patterns in their spending, you can address the issue early on before it escalates.
For Young Adults Some young adults will return to their parents’ or grandparents’ house after graduating high school or college. While they may want to live independently one day, saving money can be difficult. A method we’ve seen some parents do is asking their adult children to pay rent. However, instead of using the money to help pay mortgage or other payments, create a savings account! That way, when they decide to move out, they will have money already saved to help them with their future. Do you have any financial tips you used with your children or grandchildren? We would love to hear from you and learn more about your experience!
So, in order for them to learn about money, where should you start?
For Young Children When your little one is old enough to
count, play money games with them. Start by reusing a jar you can put placing cash or coins. Each time you do, ask your child or grandchild to identify how much each bill or coin is worth. You could also keep a running
We Would Love to Hear From YOU!
... continued from Cover
Myth No. 2: You won’t be a victim of identity theft. We’ve all heard horror stories about people checking their bank accounts and noticing fraudulent purchases worth thousands of dollars. While these experiences can show us the importance of protecting our identity and financial accounts, some people believe that identity theft won’t happen to them. Unfortunately, out of the 5.1 million reports the Federal Trade Commission’s Consumer Sentinel Network received in 2021, 46% were fraud, and 21% were identity theft. Identify theft can occur at any time. Scammers have created new tactics that can trick consumers into thinking they are legitimate businesses. Therefore, it’s vital that you double-check all emails, texts, or phone calls you receive regarding your purchases and account information. Sometimes, scammers will act like they are your bank, streaming services, and online businesses. Scammers can create URL links that look like authentic websites (even ones you previously visited!), but in actuality, they’re phishing schemes! It’s best not to click on links sent in emails or texts because your information could be stolen once you log in! Go to the website personally or log into the app to review your account to see any suspicious activities. These are only a couple of the many myths regarding finances. If you have any questions or want more information on how you can keep more of your wealth, please don’t hesitate to contact me!
If you have questions you would like answered in our upcoming newsletter, please submit all inquiries to Ellen@CapitalAdvisoryGrp.com . We would also love to highlight your experience with Capital Advisory Group. If you have success stories or instances you would like to share, please send those submissions to the email above.
Thank you for your continued support!
(636) 394-5524 3
119 Old State Rd. Ellisville, MO 63021 CapitalAdvisoryGrp.com
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
ISSUE INSIDE THIS
page 1
These Financial Urban Legends
Are Terrifying!
page 2
Top 4 Travel Destinations for
Empty Nesters
page 2
Potbellied Pig Terrifies Burglars
page 3
Should You Charge Adult
Children for Rent?
page 4
Spring Into Action at These 3 Events
What are some telltale signs that spring has officially arrived? Perhaps it’s when you step outside and the warm air hits your skin. Maybe it’s when you hear the birds chirp a beautiful song, notice the flowers starting to bloom ... or see pollen and petals piled up on your car! Either way, we can officially say spring is here! Now is the perfect time to connect with nature and get outside with your loved ones. Here are some of our favorite places to visit during spring. Jewel Box Forest Park | Located at the intersection of Wells and McKinley Drives StLouis-MO.gov/Government/Departments/Parks/Jewel-Box.cfm After a $3.5 million renovation, Jewel Box is now open and back in business! Now is your chance to walk through the beautiful gardens and learn more about the unique flowers that were planted by volunteers, 3 EVENTS TO WELCOME SPRING Get Outside!
the Flora Conservancy of Forest Park, and the Horticulture Section. The cost of admission is $1; however, you can visit the attraction free on Mondays and Tuesdays from 9 a.m. to 12 p.m.
Stop by soon to learn more about the tropical trees, foliage plants, and flowers then make a wish in their beautiful new fountain!
STL Zoo 1 Government Dr. | STLZoo.org
The St. Louis Zoo’s mission is to bring people and wildlife together. The zoo is home to over 16,000 animals, and it saved many endangered species on the verge of extinction. Because the weather is temperate in May, it’s the best time to visit the zoo with your loved ones! You can walk around and discover new things on your own or attend various attractions such as the 4D theater, the dinosaur exhibit, the sea lion show, and more! So, plan your next visit today — admission is always free!
Citygarden 801 Market St. | CitygardenSTL.org/visit
If you love looking at art and sculptures, you must visit Citygarden! As you walk around downtown, you’ll see dozens of interactive art pieces, fountains, gardens, and sculptures. If your kids need to cool off, you can take them to the children’s spray plaza, the 180-foot-long pool, or the 6-foot waterfall.
4
Securities offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC, (Kestra AS) an affiliate of Kestra IS. Capital Advisory Group, Inc. is not affiliated with Kestra IS or Kestra AS. Neither Kestra IS or Kestra AS provide legal or tax advice and are not certified public accounting firms. KestraFinancial.com/disclosures
Made with FlippingBook Ebook Creator