Take a look at our July newsletter!
JULY 2021
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PATRIOT WEALTH
And Finding Freedom in Your Retirement CELEBRATING INDEPENDENCE DAY
Happy Fourth of July! With a name like Patriot Wealth, you can imagine we strongly value our country, the freedoms we enjoy, and our nation’s military members who continue to defend those rights. When it came to establishing this firm, we wanted to ensure those values were part of its founding. This holiday symbolizes a lot of ideas. It’s the culmination of the fight our Founding Fathers waged for freedom and a celebration of our nations’ independence. But it’s also about independence. For the U.S., it was about real liberation from the British, but this concept of independence is something we as Americans are privileged to establish in our own lives — however that may look for each of us. It’s the American dream, if you will. In a manner of speaking, that’s the very point of smart proactive planning. One of our favorite quotes from Bill Bachrach perhaps says it best, “The future will come whether you plan for it or not. Will you have the future you want or the future that happens to you by default?” Maybe retirement independence for you means the freedom from having a job. Maybe it means having the freedom to travel more or visit with your family. The work we do today in the retirement planning process establishes what it will look like for you. The challenging part is that it’s a decadeslong process. Financial planning and preparing for retirement doesn’t happen overnight! Staying committed to that vision of independence you have created while “rolling with the punches” of a regularly fluctuating market can be challenging.
However, at Patriot Wealth, we have the tools and expertise you need to help you stay focused on your goals.
A big component of this is the software we use. RightCapital is a favorite among our clients — and for good reason. It offers a comprehensive breakdown of your plan in action today and what it’s projected to look like in 10, 20, or even 30 years. And it doesn’t stop when you retire. The planning continues into retirement. The software serves as a map, helping us navigate where you are now and adjusting to where you want to be. Retirement isn’t “one-size-fits-all.” That’s the other component to independence. We enjoy helping you discover what your ideal retirement looks like and helping you plan for it. The retirement process can be a lot to manage, and it’s often filled with anxiety, especially as you approach retirement age. We’re here to guide you through that transition. The best part about our jobs is sitting across from each of you (COVID-19 pending) and hearing about your dreams and goals. We love putting together a plan that is going to actively move you toward your future. And when we see it all come to fruition, it doesn’t get much better than that! We relish in those moments, too.
Retirement may be all about independence and finding the lifestyle that best suits you. But you don’t have to do it alone.
Have a very happy and safe Fourth of July!
– Wes White, Austin Kobilka & Rick 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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WHAT WILL HAPPEN TO CRYPTOCURRENCY IN THE U.S.?
REGULATORY UNCERTAINTY IN THE U.S. Although criminal usage of cryptocurrency is rather miniscule today, how do you resolve issues with ransomware? One rule proposed by the U.S. government would require anyone holding crypto in a private digital wallet to undergo identity checks if they make a transaction of $3,000 or more. Many believe, however, that this isn’t a long-term solution. Jesse Powell, the CEO of Kraken, the world’s fourth-largest digital currency exchange, told CNBC that the U.S. is more “shortsighted” than other nations and “susceptible” to the pressures of incumbent legacy businesses, like banks, that “stand to lose from crypto becoming a big deal.” Technically, the Securities and Exchange Commission (SEC) regulates most crypto, but even Hester Pierce, a commissioner of the SEC, says, “We’ve seen other countries take a more productive approach to regulating crypto. Our approach has been to say no and tell people [to] wait … we need to build a framework that is appropriate for this industry.” In some ways, crypto is profitable like the stock market is, except you can also use it to purchase goods and services. While this regulatory framework isn’t clear just yet, the longer it takes to establish, the more the American public, like you, might lose out on these multibillion-dollar markets.
Even if you’re not familiar with cryptocurrency, you’ll notice one thing about its market trends — it has been trending higher and higher in the past decade. Then suddenly, in mid- April this year, Bitcoin and other cryptocurrencies plunged significantly in value. That’s because the U.S. government has started the conversation it’s been putting off for some time: Should cryptocurrencies be regulated and, if so, how? Here are some reasons the discussion needs to move forward. CRIMINAL USAGE OF CRYPTOCURRENCIES Is cryptocurrency still popular with criminals? A blockchain data firm Chainalysis reports that illicit activity made up 0.34% of all cryptocurrency transaction volume. That’s roughly 2% lower than in 2019. While the percentage has dropped for overall activity, Kim Grauer, head of research at Chainalysis, told NBC, “Still, ransomware was by far the biggest category in terms of activity growth (311% year over year), and we’re seeing an all-time high for dark-net market activity.” Ransomware is malicious software that hackers use to infect a computer, then demand a fee to unlock it. The bounty is typically paid in Bitcoin or other cryptocurrencies, which are difficult to trace.
Why You Kind of Already Are Should You Take a Retirement Test Drive?
As you inch closer to retirement, you may experience excitement mixed with fear. You may be anxious to start this next chapter, but it’s also normal to worry. This is prompting some pre- retirees to take action. As Ken Moraif explains in an April 2021 MarketWatch article, pre-retirees sometimes test their retirement plans by living in short-term rentals in the cities or towns where they hope to eventually move. They can learn a lot about the community and what to expect in retirement. These “test drives,” as he calls them, can intertwine your dreams with reality, allowing you to plan accordingly. Even if you don’t plan to move in retirement, you may be wondering if a test drive could benefit you. (We get it.
Raleigh has been named one of the best places to retire!) After all, it could put some of your fears at bay and provide a glimpse into what your life may look like once your career ends. But before you plan a three-month hiatus from work, consider this: When you work with a financial planner, you are already taking a retirement test drive . Your retirement plan — investments, tax planning, estate planning, budgeting — cannot be implemented properly unless it has been stress-tested. That’s the point of a financial plan! We are also assessing risk and volatility to ensure we have crafted a plan that can address your goals and needs. That stress test is the test drive — and we’re constantly taking it out on the road to see how it drives.
Financially, your retirement plan is in the dress rehearsal at all times, but a test drive of your personal retirement plans can be beneficial. If you can, try taking extended vacations or opt for a sabbatical in the years leading up to retirement. Test out a new routine, move some place new for a few weeks, or try that hobby you have always wanted to learn. You just might find you need new plans or you actually love what you had in mind for retirement.
As with your financial plan, you won’t know until you try.
If you have questions about your retirement plan and our stress testing, please give us a call.
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Freedom in North Carolina
Tour North Carolina’s Revolutionary War History This July
We firmly believe there isn’t a spot within North Carolina that isn’t steeped in history, and like many of the 13 original colonies, our patriotic history began hundreds of years ago. This Independence Day, take a tour around North Carolina’s greatest American Revolutionary War spots. You may be surprised to learn just how valuable our state was to the fight for freedom. NEW BERN: REBELLING BEFORE IT WAS COOL Massachusetts’ large role in the American Revolution period — such as the Boston Tea Party — makes it a hub of Revolutionary War history, but one year before the rebellion began in the north, angry colonists in North Carolina were meeting to discuss boycotts of British goods. In fact, a group that met in New Bern, North Carolina, is credited with organizing the boycott and starting the Revolution. It’s believed that this was the first act of rebellion by the colonists. GUILFORD COURTHOUSE NATIONAL MILITARY PARK: THE BATTLE THAT LED TO THE SURRENDER OF YORKTOWN In October 1781, British General Charles Cornwallis was forced to surrender more than 8,000 soldiers to the colonists in Yorktown, Virginia, essentially surrendering to the United Colonies. However, that wouldn’t have been possible without a battle more than seven months earlier in North Carolina. The Battle of Guilford Courthouse began on March 15, 1781, and was initiated with guerrilla war tactics by the colonists. However, that was soon given up for standard warfare, and eventually the colonists lost the battle. Yet, Cornwallis’ regime had lost more than one‑fourth of its men. Without those men, Cornwallis didn’t stand a chance in Yorktown. THE COAST: THE HUMBLE ORIGINS OF THE STRONGEST NAVY IN THE WORLD The American naval forces didn’t actively play a strong role in the American Revolution, but some experts believe that their very presence and threat to the British played an integral role in striking a tone against the colonists’ foes. Across the Atlantic coastline — including North Carolina — sailors prepared to support and defend the Colonies’ coastline. As the war waged on, the Navy grew to include more warships, and places like North Carolina became recognized as stations of coastal defenders.
TAKE A BREAK
EASY ZUCCHINI ENCHILADAS Inspired by Delish.com
INGREDIENTS
• 1 tbsp olive oil • 1 onion, chopped • 2 cloves garlic, minced • 2 tsp cumin • 2 tsp chili powder • Salt, to taste • 3 cups rotisserie chicken, shredded
• 1 1/3 cups red enchilada sauce, divided • 4 large zucchini, sliced very thin lengthwise and dried • 2 cups shredded cheese • Sour cream and cilantro, for garnish
1. Preheat the oven to 350 F. In a large skillet, heat oil over medium heat. Add onion and cook, stirring for 5 minutes. 2. Add garlic, cumin, chili powder, and salt. Cook for 1 minute, then add chicken and 1 cup enchilada sauce. Stir to combine. 3. On a cutting board, lay out three slices of zucchini side by side. Top each with a scoop of chicken mixture, then roll into a tube. Repeat with remaining zucchini slices. 4. Add the rolls to a baking dish. 5. Top the rolls with the remaining enchilada sauce and cheese. Bake for 20 minutes. Top with garnishes! DIRECTIONS
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INSIDE THIS ISSUE
How We Help You Find Independence PAGE 1 What’s the Deal With Cryptocurrency Regulation? PAGE 2 Hop in for a Retirement Test Drive PAGE 2
Easy Zucchini Enchiladas PAGE 3
3 Spots to Learn More About North Carolina’s Revolutionary War History PAGE 3 5 Wacky Pizza Trends From Around the World PAGE 4
2. KETCHUP AND CORN PIZZA (BRAZIL) — According to several sources, Brazilians swap pizza sauce for ketchup or tomato slices and top their pies with strange combinations of local ingredients like corn, beets, hearts of palm, and potato sticks. 3. HAGGIS PIZZA (SCOTLAND) — Pizza may be the only semi-enjoyable way to eat haggis: a mix of sheep or calf offal, oatmeal, suet, and seasonings that are boiled in an animal’s stomach. Last year, Papa John’s got in on the action when it released a limited-edition haggis pizza in honor of a Scottish poet, Robert Burns. 4. MOCKBA PIZZA (RUSSIA) — This local pie comes topped with four kinds of fish (sardines, tuna, mackerel, and salmon), onions, herbs, and occasionally fish eggs. Most troubling of all, it’s served cold! 5. CHICKPEA PANCAKE PIZZA (ARGENTINA) — In Buenos Aires, locals top their super-cheesy pizza slices with fainá — chickpea pancakes cooked separately from the pies and balanced on top of each slice. Keep these pizzas in mind when planning your next international vacation! They might be tastier than they sound, and if not, they’ll still make great Instagram fodder. As actor Cole Sprouse once tweeted, “You’re losing followers because you’re not relatable enough. Try mentioning that you eat pizza. If that doesn’t work, play the ukulele.”
Here in the U.S., pineapple is considered a wild and controversial pizza topping. Even celebrities take a stand. Justin Bieber is pro- pineapple, but Jimmy Kimmel is against it. According to a 2019 YouGov Omnibus study, only anchovies and eggplant are more hated. But in other parts of the world, the tangy yellow fruit is far from the strangest topping you’ll see! Here are five wacky pizza trends from around the globe that will either make you hungry or inspire you to sprint the other way. You may want to order a comforting cheese pie from your favorite local pizzeria before reading this, just in case. 1. BANANA-CURRY PIZZA (SWEDEN) — The Swedes first accessed bananas in 1944, and since then, they’ve put them on everything , including pizza which they top with tomato sauce, smoked cheese, banana slices, and curry powder. They Eat What on Pizza?! 5 WACKY PIZZA TRENDS FROM AROUND THE WORLD
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