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APRIL 2021
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READY TO GO BACK TO THE CLASSROOM? 3 Financial Literacy Lessons From an Ex-Economics Teacher
Before I started working at Financial Architects in October of 2020, I spent 17 years in the classroom teaching AP economics to high schoolers. During those years, I realized that young people are brought up thinking finance is difficult — and they’re only half right. In a lot of ways, financial decisions are complicated. There are thousands of hard-to-understand terms in the finance world, and reading a financial text can feel like diving into a different language. But managing your money doesn’t HAVE to be complicated. You just need the right teacher to clarify things for you. I strove to be that teacher at Troy Athens High, and that’s still my mission today at FAI. The heart of finance is learning how to maximize your money. Luckily, you have opportunities to do that with every financial decision you make over your lifetime. Guiding people through those decisions is what makes finance fun for me. When you make the right move, you can protect your wealth, build your savings, manage your cash flow, and grow your nest egg for the future. When I was a teacher, I loved helping my students discover those aha! moments. I can still remember the looks on their faces when the concept of “opportunity cost” sunk in. Realizing that spending $10 on a movie might actually cost them $20–$30 because they were giving up a few hours of work was a game-changer. I enjoy helping my clients have those same realizations on more complicated topics.
than you think (just look at the February snowstorm in Texas), and if you have money set aside for 3–6 months of expenses, then you should be able to weather them. After using your fund, focus on rebuilding it before you add to your other savings. REACH OUT FOR HELP WHEN YOU NEED IT . Like I said before, finance can be complicated and confusing. There will undoubtedly be times when you feel lost, no matter how smart and competent you are! When you get stuck, reach out to the team at Financial Architects. We’re here to help, and taking the initiative to ask will do wonders for your financial health.
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Hopefully, those three tips are helpful. If you’ve mastered them already, feel free to share the lessons with your friends or kids. With that, I’m taking off my teacher hat for the day! After all, I’m more than just an ex-teacher or even a financial consultant. I also worked in retail distribution for years and I’m a full-time husband to my wife of 28 years, Dorothy, and dad to our four kids. The youngest is getting married in May, and I can’t wait! In the meantime, you can find me reading the London Financial Times or Wall Street Journal, taking long walks with Dorothy, or playing golf when the weather allows.
In true teacher form, I want to start with a quick lesson! April is Financial Literacy Month, so I thought it would be fun to share what I consider the top three principles of financial literacy. I like to keep things simple, so here are my top three.
PAY YOURSELF FIRST. This is an old adage but a good one. It’s wise to save at least 15% of your earned income and build your lifestyle around the remaining 85%. Once you have that savings, then you can consider the best ways to invest and make it grow. CREATE AN EMERGENCY FUND. Yes, this is simple, too, but you wouldn’t believe how many people don’t do it. Emergencies will pop up more often
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Happy Financial Literacy Month!
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Book Reviews With Chris Ball EYE ON THE BALL
BOOST YOUR HOME’S ENERGY EFFICIENCY With These 3 Products
With the development of accessible, affordable technologies and home products, improving the energy efficiency of your home is easier than ever. On top of that, many of these products give you more options for home automation, so you can save money and stay comfortable without even thinking about it. Here are three home improvement ideas that can boost your energy efficiency right now. A SMART THERMOSTAT The great thing about smart thermostats is that they offer more programmable options than traditional thermostats. For example, you can buy a thermostat that connects to your home’s Wi- Fi and is controlled by an accompanying smartphone app, no matter where you are. Another awesome feature is that smart thermostats will turn on and off based on your schedule and temperature preferences. In the long run, this feature can save you money and energy. NEXT-GENERATION INSULATION While you might be familiar with fiberglass insulation, an industry standard, there are much better options that help you maintain the temperature in your home. For existing homes, spray foam insulation is a good option, as it is the easiest to install and can still save energy. It’s also ideal for insulating attics, basements, and hard-to-reach spots. For new homes or more involved renovations, insulating concrete forms are the most energy-efficient option. A SMART WATER HEATER Generally, water heaters are not the most energy efficient — especially if you’re in a household where hot water is in constant demand. But with a smart water heater, you can change that. Much like the previously mentioned thermostat, you can control a smart water heater remotely or set it to heat water according to a specific schedule. This way, the heating elements aren’t running all day, every day. They come in tank and tankless varieties, though tankless is the way to go to maximize energy efficiency without taking up much space.
How are we influenced when making decisions? Why are some people and ideas so persuasive? Robert Cialdini reveals much of the social science behind our thoughts and actions in his book "Influence.” The book provides so many good lessons on self-awareness. We are under constant pressure from many sources to make automatic decisions and form opinions without thinking them through. In a world of constant data, marketing, and social media "influencers," it is critical to understand the tactics at work. All human beings are wired to seek out protection and our own self- interest. As our world gets more complex, we need to be aware of the blind spots that can be exposed. Cialdini acknowledges a need for open-minded thinking but also the importance of keeping our guard up. Many of the principles apply directly to our spending habits and the pitfalls of consumerism. Cialdini offers some humorous examples of his own experiences. Despite his expertise in his field, he is not immune to the pressures and methods used by others. He notes that we often get that pit in our stomach when we feel we are being manipulated, but we do not always listen to it. This book will arm you with an understanding of how our minds work and what to be aware of.
The information contained in this newsletter is derived from sources believed to be accurate. You should discuss any legal, tax, or financial matters with the appropriate professional. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Registered Representatives offer Securities through The O.N. Equity Sales Company, Member FINRA/SIPC (www.FINRA.org/ and www.SIPC.org). Investment Advisory Services offered through O.N. Investment Management Company and FAI Advisors, Inc., Financial Architects, Inc., FAI Advisors, Inc., and The LifeMethod are not subsidiaries or affiliates of The O.N. Equity Sales Company or O.N. Investment Management Company. We have representatives currently registered in the following states: AL, AZ, CA, CO, DC, FL, GA, IL, IN, MA, MD, ME, MI, MN, MO, NC, NH, NV, NY, OH, OR, PA, SC, TX, VA, WA, and WI.
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Take a Break
Chat With a Client John Nuzman
Solution on Page 4
SPRING VEGETABLE AND CHICKEN PASTA BAKE
INGREDIENTS • 1 cup cooked chicken, diced • 1 14-oz can artichokes, drained and quartered • 1 cup fresh asparagus pieces
1. HOW DID YOU FIRST GET CONNECTED WITH US AT FINANCIAL ARCHITECTS?
• 1 3/4 cups chicken broth
Mike Kucera and I met at a men's study group about 10 years ago as we learned what the Bible had to say about managing marriage, family, and finances.
• 1/2 cup fresh chives, chopped and divided • 1/4 cup fresh parsley, chopped and divided
2. TELL US ABOUT MARCUS & MILLICHAP AND WHAT YOU DO FOR THEM?
• 1/2 cup carrots, grated
• 2 tsp minced garlic
I'm fortunate to start my 22nd year with the industry leader of real estate investment brokerage (NYSE: MMI) where I specialize in the sale of retail investments (typically in the $1–10 million range) to mostly private investors. It is a national business, so I work with both investors and properties spread across the U.S. 3. HOW WOULD YOU DESCRIBE THE COMMERCIAL REAL ESTATE MARKET AFTER GOING THROUGH THIS TOUGH TIME, AND WHAT KEEPS YOU GOING? In 2021, we remain in one of the lowest interest rate environments in history, so the cost of borrowing has pushed up real estate values due to the low cost of funds. Certain real estate types have fared much better than others during the pandemic, including medical, industrial, and certain retail investments like dollar stores, fast-food restaurants with drive-thru windows, auto parts, and other product types that are considered essential businesses. The information about products and services offered by Marcus & Millichap does not constitute an endorsement or recommendation by Financial Architects, Inc.
• 1/4 tsp salt
DIRECTIONS • 1 1/2 cups uncooked penne pasta
• 1/4 cup Parmesan cheese, divided
1. Preheat oven to 425 F and grease an 8-inch square baking dish with cooking spray.
2. In the prepared dish, stir together cooked chicken, artichokes, asparagus, carrots, uncooked pasta, chicken broth, half the chives, half the parsley, garlic, salt, and 2 tbsp Parmesan.
3. Cover the dish tightly with foil and bake for 35 minutes.
4. Uncover and stir. At this point, check the pasta to make sure it is al dente. If it’s undercooked, cover the dish and return to the oven until pasta is tender.
5. Remove from oven and garnish with remaining Parmesan, chives, and parsley.
Inspired by TheSeasonedMom.com
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Inside This Issue 1 | 3 Financial Literacy Lessons That Will Shape Your Future 2 | 3 Home Products That Can Slash Your Energy Bill
2 | Book Reviews With Chris Ball
3 | Chat With a Client
3 | Spring Vegetable and Chicken Pasta Bake
4 | Vacations That Pay
In the wake of COVID-19, tourist destinations worldwide have been hit hard. To lure travelers back, some places are offering steep discounts and other incentives throughout all of 2021. With cheap airfare and great deals on accommodations, tours, food, and more, you can take a luxury vacation on a dime this year. MEXICAN CARIBBEAN Few words evoke the image of beaches, sun, and saltwater like “Cancun” does. This Mexican locale has become synonymous with leisure, as have other destinations in the Caribbean — beautiful places like Isla Mujeres or the Riviera Maya. Tourists can visit all of them at a steep discounted rate until the end of 2021 thanks to promotions from the Hotel Association of Cancun and the Quintana Roo Tourism Promotion’s council. Head to En.Come2MexicanCaribbean.com to find vouchers for two free nights in a hotel for every two you pay for, steeply discounted airfare, and even options for free food and drinks. THAI PARADISE Although it’s no longer the hidden destination it once was, there are still a lot of good reasons to visit Thailand. In addition to being an affordable place to travel, Thailand also has great food and an amazing climate. To make up for the financial hit due to suspended travel because of the virus, the Cape Fahn Hotel is offering incentives Vacation Destinations That Will Pay You to Visit
into 2021 including a complimentary upgrade to the next class of care, which gives economy spenders access to executive accommodations. Other incentives include free meals, round-trip airport service, and discounted beach picnics and boat tours. Check out CapeFahnHotel. com/offers for more information. WHISTLER, BRITISH COLUMBIA Although this destination in British Columbia might be known for its winter activities, there’s a lot to love about Whistler in late spring and early summer! One great thing? The amazing array of money- saving options you can find here. The Riverside Resort, for example, is offering mountain-view cabins at a 3-for-2 discount — pay for two nights and get a third for free! Traveling to Canada can be tricky at the moment, but if you use a good travel agent, you can take advantage of some great deals. Other incentives in the region include free meals (or a per-diem meal rebate) as well as discounts on guided tours.
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