Patriot Wealth - April 2024

IS LEAD LURKING IN YOUR STANLEY? The Rise and Fall of the Stanley Cup

For years, when people talked about the Stanley Cup, they meant the men’s hockey championship trophy. Today, the Stanley Cup means more than that; it’s a wildly popular insulated cup made famous through TikTok. These metal cups are unmistakable, with their giant cupholder-friendly shape and long straw. They are available in various colors, giving them an extra edge for photographability. Millions bought them this past year, but Stanley’s reign may end due to a lawsuit. Like the Yeti before it, the Stanley Cup is durable and heat resistant. In one viral video, one even survived an intense car fire — as did the ice (the company bought a replacement car and thanked the video’s poster for her marketing service). For those wondering the secret trick to the Stanley Cup’s extreme heat resistance, it’s simple: vacuum insulation using lead. Like many other stainless steel cups, the tumbler’s base has a sealant containing lead. However, stainless steel surrounds it, so lead never contacts the outside. Damage can pop it out, but stainless steel cups are so durable that the risk is negligible. Many experts tested the trendy vessel and found them to be completely safe.

That hasn’t stopped countless social media users from panicking. The same frenzy that drove the cup’s popularity may cause its downfall. TikTok is filled with freaked-out influencers, with some even buying lead testing kits. HydroFlask, Owala, and other lead-free cup producers took advantage of the situation, boldly claiming that their drinking vessels are insulated and lead-free. To make matters worse for Stanley Cups, a class-action lawsuit was filed against the company. The plaintiffs, seeking refunds

and punitive damages, argue that the company failed to tell consumers about the lead in their cups. Regardless of the truth, the lawsuit likely fed the flames of social media fear. One thing is clear: The end of the Stanley Cup craze is on the horizon. It’s anyone’s guess what the next trending cup will be, but it likely won’t be a spin-off like a lead-lined Stanley Quencher. It couldn’t have come sooner for trend buckers and the company’s competitors.

LIVING BETTER AND LONGER MAKE INCOME PLANNING A PRIORITY

In recent decades, breakthroughs in medical technology, pharmaceutical innovations, and preventive care measures have collectively contributed to improvements in life expectancy. This trend stands as a testament to the rapid advancements in our comprehension of health, medicine, and environmental factors, highlighting the profound impact of scientific progress on human longevity. Because of these incredible advancements, individuals today tend to enjoy more years of vitality and productivity than ever before. However, with the blessing of extended lifespans comes the challenge of ensuring your finances and resources to sustain a fulfilling lifestyle. Here are some things to consider about income planning for the long term. WHY YOU SHOULD START INCOME PLANNING Extended lifespans raise concerns about financial sustainability throughout retirement; the fear of exhausting your financial resources early can be daunting. However, this concern should be the primary motivation behind establishing an income plan as you recognize the uncertainties inherent in financial markets, economic conditions, and personal circumstances. Comprehensive income planning ensures you’ll have security through your life’s accumulation and distribution phases. Our team is equipped to meet this growing need for strategic

financial management, which can mitigate potential financial risks and ensure a steady income stream throughout various stages of life. HOW TO NAVIGATE INCOME PLANNING The modern retirement landscape demands a proactive approach to financial planning; retirees can navigate the complexities of accumulation and distribution phases with confidence and resilience by acknowledging the reality of extended lifespans. Partnering with a knowledgeable team becomes paramount in navigating these complexities. A strong financial advisor understands the complicated dynamics of each life stage and strategizes accordingly based on each individual’s needs. Proper income planning transcends financial management; it instills a profound sense of confidence and security in retirees. Knowing one’s financial affairs are specifically organized and strategically managed ensures peace of mind, empowering individuals to embrace retirement enthusiastically and confidently. It’s about more than just preserving wealth; it’s about safeguarding one’s lifestyle and dignity despite life’s uncertainties. Call Patriot Wealth for all of your income planning needs and more!

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