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YOUR FINANCIAL ADVOCATE 24 OCT
FROM ASSEMBLY LINES TO ELECTRIC CARS
The Visionary Legacies of Ford and Musk
On Oct. 1, 1908, Henry Ford’s first Model T rolled off the assembly line, a complete revolution not only for its impact on the consumer but also in the way that the industry functioned. As we sit here in October 2024, a modern-day Henry Ford, otherwise known as Elon Musk, has placed himself smack dab in the middle of the political arena through his outspoken support of Donald Trump. The purpose of this column is not to get political about the upcoming election but to recognize some parallels between these two icons, separated by a century, in the way that one transformed the world many years ago, and the other is transforming the world right before our eyes. A few years ago, we were all in awe of this brand-new electric vehicle and, even more recently, those futuristic cyber trucks that we see every now and then on the roads (they’re interesting-looking, aren’t they?).
Years ago, the miracle of the assembly line structured the workplace for decades and changed the very fabric
of our communities by mass-producing the automobile that now led to the development of suburbs, fulfilling Ford’s vision of cheaper transportation for all. Now, we fast-forward about 100 years later to when the first Tesla rolled off the assembly line. This monumental moment revolutionized modern transportation by driving electric vehicles into the mainstream and attempting to reverse, or in some ways continue, Ford’s impact on our society.
“Much like Ford didn’t stop with just the assembly line, Musk continues to influence our society, culture, and politics in countless ways.”
that is bound to have the positive and negative impacts that come with it.
Just like the Model T set the foundation to put the horse-and-buggy industry out of business and impact American business and culture in
Much like Ford didn’t stop with just the assembly line, Musk continues to influence our society, culture, and politics in countless ways. It’s interesting to see what he will do next. Ford was a polarizing figure in his day, just like Musk is divisive today. Men who have this type of impact are bound to have enemies as well as supporters — after all, you simply can’t please everyone, right? Ford, in the industrial areas of his era, preferred to influence politics and policy behind closed doors. But Musk is attempting to create a platform of free and public conversation
other ways, the same is true with Musk and Tesla. It’s amazing to see the far-reaching ramifications of people with big visions and where they can take them — in both positive and negative ways!
Where will we go from here?
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WHAT DO YOU DO HERE AT DUPONT AND BLUMENSTIEL? I started working here in April 2023 as an administrative assistant. My typical workday includes answering incoming phone calls, going through emails, creating drafts of estate planning documents, meeting with clients, and assisting with probate cases. WHAT IS SOMETHING MOST PEOPLE DON’T KNOW ABOUT YOU? I enjoy playing music and I can actually play four instruments: the trumpet, piccolo, clarinet, and drums. WHAT IS YOUR FAVORITE PART OF YOUR JOB? I love to come to work because I get to help people, and the clients always have interesting stories. The problem-solving involved in this job inspires me to work harder and challenge myself every day. JORDAN HOLLINS PARALEGAL STAFF SPOTLIGHT:
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Simple Steps for Building Financial Responsibility Teaching Kids the Value of Money
Helping your kids build and understand financial responsibility is a life skill that sets them up for success throughout their lives. By teaching them the ins and outs of money management early on, you can equip them with the knowledge and habits needed to make smart financial decisions their entire lives. START WITH SIMPLE CONCEPTS Begin by introducing the basic concepts of money, such as saving, earning, giving, and spending. You can use real-life examples, like grocery shopping or budgeting for a family vacation, to help them understand how money works. CREATE EARNING OPPORTUNITIES Creating an allowance with age-appropriate chores is a great way to give your child an opportunity to earn their own money and understand the value of work. Earning
HELP THEM UNDERSTAND NEEDS VS. WANTS Explain that while it’s okay to spend on things they enjoy, it’s important to prioritize essential expenses. This can help children make better choices when managing their money and develop a healthy relationship with spending. MODEL GOOD FINANCIAL BEHAVIOR Children learn from their parents’ example. Demonstrate responsible financial habits by saving, budgeting, and making wise spending decisions. Discuss your own financial decisions with your kids to help reinforce the lessons you’re trying to teach. Starting early and being consistent can help your children build a strong foundation for financial savvy that will stick with them their whole lives!
their own money helps to foster a sense of responsibility and makes children more mindful of how they spend it. INTRODUCE BUDGETING AND SAVING Once your child is earning money, help them develop the habit of saving. You can encourage this by setting up a savings jar or opening a savings account for older children. Budgeting is also an essential skill. Teach them to set aside money for specific goals, like a new toy or game, and track their spending.
SUDOKU
PUMPKIN PIE FRENCH TOAST
Inspired by AllRecipes.com
INGREDIENTS
1 1/2 tsp vegetable oil, or as needed
1 tsp vanilla extract
•
• • • • •
1/4 tsp pumpkin pie spice
1/2 cup half-and-half
• • • •
1/4 cup finely chopped walnuts
1/4 cup canned pumpkin purée
8 slices day-old bread Maple syrup, to taste
3 large eggs
1 tsp ground cinnamon
DIRECTIONS
1. Lightly oil a skillet and heat over medium heat. 2. Whisk half-and-half, pumpkin purée, eggs, cinnamon, vanilla, and pumpkin pie spice together in a bowl. Stir in walnuts until evenly distributed. 3. Place 1 slice of bread in the bowl and let it soak briefly to coat both sides. Lift bread to let excess liquid drip back into the bowl, then transfer to the hot skillet. 4. Cook for 2–3 minutes or until golden brown, then flip and cook the other side until done. 5. Stir batter to redistribute walnuts and repeat with other slices of bread, cooking in several batches if necessary. 6. Serve warm with maple syrup.
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YOUR FINANCIAL ADVOCATE A publication of Advocate Wealth Solutions, blending original and curated content, and is intended to educate the general public about investing, finance, estate planning, personal injury, and small-business issues. It is not intended to be legal or financial advice. Every situation is different. The information in this newsletter may be freely copied and distributed as long as the newsletter is copied in its entirety.
INSIDE
Revolutionizing the Auto Industry, 100 Years Apart PAGE 1 Staff Spotlight: Paralegal Jordan Hollins Our Podcast Client Appreciation PAGE 2 Building Financial Responsibility in Children Pumpkin Pie French Toast PAGE 3 Vienna: A Timeless Tapestry of Music and the Macabre PAGE 4
Discover Vienna CITY OF DREAMS: FROM SUBLIME MUSIC TO MUSEUMS OF DEATH
If you yearn to visit a European city rich in imperial grandeur, music history, and macabre memorials to death, Vienna is for you. And that odd mix of attractions reflects only a small part of the city’s diversity. This former frontier city of the Roman Empire expanded to become the glittering capital of a great empire for centuries. The Habsburg dynasty’s sponsorship of the arts made Vienna a global center of classical music. Home to Beethoven, Vivaldi, Mozart, Mahler, and Strauss, Vienna hosts frequent performances of classics by these and other composers. The city’s museums, churches, and charnel houses offer macabre tributes to death. Piled on the floor and lining the walls of
a charnel house beneath St. Stephen’s Cathedral are the skulls and other bones of 11,000 people, according to Atlas Obscura. The Habsburgs created elaborate containers to preserve their embalmed entrails after death. The city’s Crime Museum houses relics of famous murders, including the mummified head of a known killer. Fortunately, the Habsburgs were readers, too. The Austrian National Library, a baroque masterpiece, is home to 2.5 million books. In a Gothic twist, library employees may slip silently in and out of hidden passageways behind the stacks if you watch closely. The city is also noted for its intellectual history. Sigmund Freud lived and worked in Vienna, which led to its nickname, “City
of Dreams.” The philosopher Ludwig Wittgenstein also worked in Vienna, where he made many contributions to logic in mathematics and language. On the lighter side, Vienna’s Spanish Riding School offers a unique opportunity to see its famous Lippizaner horses perform dressage. The Imperial Butterfly House is a tropical oasis housing about 400 beautiful insects. Visitors to the “lost garden,” a vast topiary maze at the Habsburgs’ summer palace, can enjoy tales of courtiers frolicking among the web of manicured hedges — not only for playful exploration but also for illicit romance. Taken together, these diverse attractions promise travelers to Vienna a visit to remember!
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