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July 2023
CampbellWealth.com • (703) 535-5300 • 330 John Carlyle St., Suite 400, Alexandria, Virginia 22314
FINANCIAL FREEDOM Learn About It, Work Toward It, Enjoy It
currently 65 years old or older, they have a 50% chance of living to be 86.5 years old and men in that age group have a 50% chance of living to be 84 years old.
is to help clients with any issues that could potentially become a larger problem.
The Fourth of July represents that day more than two centuries ago when we secured our freedom from Great Britain. It honors a very important time in our history and a very important principle. I love the word “freedom” because it embraces everything that we do as a company for our clients. Here at Campbell Wealth Management, we focus on helping people develop and maintain financial freedom through their retirement. When you first retire, the most important thing you should have is confidence about that freedom, and based on some of the statistics out there, the odds are not in your favor.
We have a portfolio management team that takes the time to focus not only on helping our clients’ portfolios increase in value but also protect them so they don’t lose value. I truly believe that to be comfortable in retirement and financially independent, you need to rid yourself of concerns and worries about money. Unfortunately, most people don’t have any kind of plan for that, as we have seen represented by the above statistics. But it’s probably one of the most important things to think about, especially before you retire. I’m happy to say that I feel certain that our clients are enjoying retirement wholeheartedly. So, as you enjoy your Fourth of July weekend and your summer, find comfort in having a plan in place and an advisor at Campbell Wealth Management who is monitoring that plan so you can enjoy the best years of your life with financial freedom.
• According to a 2022 Charles Schwab
study, Americans feel that they need $1.9 million to comfortably retire.
• In that same vein, a 2020 American College survey reported that 24% of
Americans are extremely concerned about Social Security cutting their benefits.
From this info, it’s easy to understand that there is a lot to worry about, and I believe that that’s why planning is so important. Retiring is all about confidence and certainty in your ability to have the income to pay for your expenses and lifestyle. When I opened the doors to Campbell Wealth Management about 20 years ago, my goal was to help as many people as possible with that confidence. While we weren’t great in the beginning, we got better as time went on, and now I’m proud and happy to say that we made it. All of our clients have a financial plan and are working with a certified financial planner who meets with them each quarter. Together, they review and make updates to their financial plans as needed, and their goal
• According to a 2021 Gallup survey, the average retirement age in the U.S. is 62.
• Based on information from the Social Security Administration in 2021, the number of Americans aged 65 and up will increase from 57 million in 2021 to 76 million by 2035. • According to the United States Census Bureau, 50% of women between the ages of 55 and 66 do not have any personal retirement savings and 47% of men in that same age group also do not. However, out of all the women who are
Kelly Campbell
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Suitcase Hacks You Need PACK YOUR LUGGAGE WITH EASE
to pack a zipped pillowcase in your luggage so that if you have too many clothes on your return trip, you can stuff them into the pillowcase and bring it with you on your flight. Utilize your sunglasses case. Even if you are traveling in winter, always make sure to bring
Whether you’re a packing perfectionist or a last-minute folder, learning a few more special tricks for stuffing your suitcase with your travel essentials can’t hurt! You’ve probably already heard about rolling up your clothes into cylinders or buying packing cubes, so here are four other game-changing packing hacks. Stuff your shoes! If you’ve ever had to sit on your suitcase just to zip it shut, this tip is for you. Shoes can take up a serious amount of space in luggage. That’s why you should try stuffing whatever you can in your shoes to ensure you pack everything you need. Socks and smaller garments are perfect for rolling up and putting in your shoes. If you’re bringing boots, that means more space for your belongings! Use solids and cling wrap to avoid spills. There’s nothing worse than opening your
luggage in your hotel to find that your shampoos and other liquids have burst and stained half of your wardrobe. Surprisingly,
countless brands offer solid shampoos and conditioners.
Instead of large bottles of liquid, these necessities are made into compact, solid bars. If you do have fluids you need to pack, try covering them with cling wrap or putting them in zip-lock bags to ensure nothing spills onto your other things. Sneak more clothes in a pillowcase. Play it cool when you pass TSA with a pillowcase stuffed with extra clothes! Don’t worry, this hack is entirely legal and perfect for those who like to shop when they travel. Be sure
a pair of sunglasses — not for the shades themselves, but for the compact case! You can use
this sturdy case to store jewelry, electrical cords, or delicate souvenirs. While traveling can be a dream come true, cluttered or overstuffed luggage can be a nightmare brought to life. On your upcoming summer vacation, ensure you’re using your space efficiently to keep your sanity with these hacks!
THE MORE THE MERRIER!
Experience the Joy of Group Travel
yourself through a city or town might deprive you of insider knowledge or interesting details. With managed group travel, the tours are already arranged for you to enjoy, with local guides who know the best places to visit for an authentic experience. Some groups even employ scholars to travel with you to provide interesting lectures and tours. Group travel is an easy way to make new friends. When you meet with your travel group at your destination, you’ve automatically made a few new friends you’ll get to know over the upcoming days. Meeting new people can be challenging in our normal lives due to our routines, but a managed travel group creates a close-knit environment where you spend enough time with people to bond, laugh, and share a few stories. Set a budget, and stick to it. Most travel companies charge an upfront price that encompasses all the expenses you’d typically spend during your trip, including flights, hotels, and activities. This means that when you shop for a group trip to book, you can decide how much you want to spend ahead of time. You never have to worry about going over budget and finding a surprise on your credit card bill.
Now that most countries have returned to their pre-COVID travel norms, taking a jaunt around the globe is a great way to take a much- needed break. But doing it alone can seem overwhelming, especially when it comes to planning the details of a trip. That’s why managed travel groups have become popular among middle-aged adults. And no matter which travel agency or website you book through, traveling with a group offers many benefits you can’t get if you go alone. Here are a few! Trip planning becomes stress-free. Traveling abroad can be exhilarating, but planning the details of your trip can be daunting. Flights, hotels, and local attractions all require research and individual reservations, so all the moving parts may be difficult to keep track of — and even more expensive. With managed group tours, the price you pay for the trip includes all
those pesky planning details. Local guides know their stuff.
Taking a tour of the local attractions in any country can give visitors a deeper understanding and connection to the culture. However, if you don’t know where to find those local attractions, guiding
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Should Your Adult Child Pay Their Way? When to Close the Bank of Mom and Dad
While young adults of previous generations were usually left to sink or swim after leaving home, it is now commonplace for parents to provide financial support to their adult kids. A 2018 Merrill Lynch Age Wave survey found that 79% of respondents help their adult children financially, providing an average of $7,000 annually. Many parents feel it’s a moral obligation. But how much should you support your adult child — and how do you know when it’s time to stop? Modern parents have good reasons to help their kids into adulthood. Housing prices have increased, entry-level jobs often pay poorly, and many young adults struggle with student debt. Parents often support their kids temporarily until they get on their feet. But months can turn into years without significant progress toward self-sufficiency. One way to tell it’s time for a change is by looking at your own finances. Are you meeting your own goals? If you’re struggling to pay bills, racking up credit card debt, or failing to save for retirement sufficiently, you’re helping your children to your own detriment. Further, you risk reversing the arrangement, thus relying on your child for financial support in the future. So, confirm your retirement goals are on track and that your contributions are affordable.
It’s also worth considering whether you’re preventing your adult child from learning important life lessons. If they struggle to budget or habitually misspend money, regularly bailing them out hurts them more than it helps. And don’t forget about the emotional component of your financial support. If you feel like your kids are taking advantage of you, then something is wrong and needs to change. Whatever your reason for reconsidering, prepare for a challenging conversation. You may feel guilty, and your child may become very upset. Take time to understand your reasons for ending or reducing your support and plan what you want to say. Most importantly, give your child time to process the news financially and emotionally. Avoid ending support suddenly if possible so they have time to prepare for their future finances. Wanting to help your kids is normal, and it can be hard to let go or watch your children struggle. But limiting your support, saying “no” to monetary requests, and putting your needs first is okay. Especially if your assistance has put your financial, mental, or emotional health at risk, it’s time to reconsider what works best for the entire family. UPCOMING EVENTS Q2 Market Update Webinar When: Tuesday, July 18, at 11 a.m. EDT How to register: Give us a call and keep an eye out for an email invitation! What it’s about: We will discuss the markets, the moves we have made and thoughts going forward. Bring your questions or share them when you register. We’ll be taking questions throughout the presentation and have reserved a Q&A period as well. Client Webinar: Estate Planning, Do I Need a Will or a Trust? When: Tuesday, Aug. 15, at 1:00 p.m. EDT Keep an eye out for more information! To register, email us at Seminars@campbellwealth.com!
Would you like to be a Campbell Wealth Management Ambassador? Would you like access to exclusive events?
All you have to do is refer a friend. Do you know someone who: • Wants to be better prepared for retirement?
• Is looking for a second opinion regarding their portfolio? • Has gone through a major life event (death of a spouse, retirement, etc.)? Call us at ( 703) 535-5300 to set up an introduction! If they are important to you, they are important to us.
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CampbellWealth.com (703) 535-5300 330 John Carlyle St., Suite 400 Alexandria, Virginia 22314
Inside
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Financial Independence Is Freedom From Worry
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The (New) Art of Summer Packing
Solo Travel Not Your Thing?
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Wean Your Children Off Financial Support
Upcoming Events
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Sandy Toes, Sunny Skies, and Beach Bliss
Securities offered only by duly registered individuals through Madison Avenue Securities, LLC (MAS), member FINRA/SIPC. Advisory services offered only by duly registered individuals through Campbell Wealth Management, LLC (CWM), a Registered Investment Advisor. MAS and CWM are not affiliated entities. Our firm does not offer tax or legal advice. Consult your tax or legal advisor regarding your situation.
Discover Your Ideal Seaside Retreat
One of the most important decisions anyone will make regarding their vacation is where they stay. This is especially true for summer vacations at the beach. Everyone has a different idea of their ideal vacation, and where you stay can make or break the trip. Here are a few things to consider before booking a beach rental for your vacation. Size Matters How many people are coming on your trip? Is it just you and your significant other, or are children coming? You will want to pick a rental to fit your family’s needs. If your traveling party is small, a condo or apartment overlooking the beach will likely work. If your family is large or you’re worried about the kids being too loud, consider a single-family beach house instead. Location, Location, Location You probably already know what beach to visit, but choosing a specific
unit can be challenging. Is a rental with a grand view of the beach and the ocean worth the cost, or is one without quite the view (but less expensive) still acceptable? You’ll also need to examine the surrounding area to ensure it has everything you need. If you don’t want to drive much once you settle in, choose a rental within walking distance of the beach, shops, and restaurants. The Extras You should consider a couple of other things when booking a beach rental. If you plan to bring your pets, ensure the rental you book is pet-friendly. It’s also worth investigating if the beach itself is dog-friendly, as bringing your furry friend to the beach can make the vacation even more enjoyable. Many rentals also provide beach toys, body boards, and more so you don’t have to spend money buying or renting them at shops. Read through the rental description, and don’t hesitate to ask the owner any questions.
FIND THE PERFECT BEACH RENTAL
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