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AUGUST 2018
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PATRIOT WEALTH
WELCOME, AUSTIN! PATRIOT WEALTH’S NEW TEAMMATE
character is his potential — it’s something we do our best to foster on a daily basis. Austin explains this process better than we could: “I like the challenge of learning. To be an asset, I first need to get my feet wet. It’s all part of the process.” But it’s not just about learning for the betterment of his career. “Learning everything is the best way to help our clients.” Austin came to us after testing the waters elsewhere, searching for his true calling. “I experienced Wall Street and what a career in that environment might provide me. I explored a variety of routes. What I realized is that these paths wouldn’t facilitate my passion.” Ultimately, it’s your drive that gets you through tough times. For Austin, his passion and our mission aligned perfectly. “[Wall Street] came down to products more than service. What drew me to Patriot Wealth is that it’s a firm that works under the fiduciary standard.” It’s rare to find such a robust set of moral beliefs in anyone, let alone in a recent graduate. Everyone has a favorite part of what they do. For Austin, it’s service. “I want to help people help themselves. There are so many financial pitfalls Americans fall into. I want to help them navigate these tricky waters and find financial peace.” We’re fortunate to have such a great new member and look forward to the many lives he will change.
Our team at Patriot Wealth prides itself on having the utmost ethical and moral responsibility when it comes to running our business. It’s a core value of ours to represent your hard-earned money and reputation with integrity. We view having strong beliefs as being a significant advantage, but holding true to them doesn’t come without its challenges. Hiring new team members who fit our standards can be difficult. Luckily for us, we found Austin, and we couldn’t be more excited. He embodies everything we look for in a financial planner. The only thing that may outweigh his
Investment Advisory Services 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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HOW TO HELP BOOST YOUR RETIREMENT FUNDS WHEN YOUR FUNDS ARE LOWER THAN THEY SHOULD BE
Having money saved is crucial for adults aged 50 or older who plan to retire in the near future. Some people are prepared for retirement, having saved a sufficient amount throughout their lives. However, there are people who, despite having tried to save, come up short in their retirement funds. This can send them into a panic. Women account for the largest percentage of people who don’t have enough money in their retirement savings by the time they reach the age of 50. A survey produced by the nonprofit Transamerica Center for Retirement Studies shows that many women who reach retirement age will not have adequate funds to support themselves. Despite having a higher savings rate, the average amount women have saved at the age of 50 is about $35,000, compared to $120,000 for men. What’s the reason behind this?
are more likely to work part time or stop going to work to take care of family members in need. By working less, women tend to earn less money, which prevents them from putting away sufficient funds for their retirement. This also affects whether or not they are covered by their employer’s retirement benefits, since most employees are required to be full-time in order to receive any benefits. If you’re nearing retirement age, don’t fret — you still have options available to you. If you’re working, look into your company’s retirement plan, especially if they offer a 401(k). According to the IRS, those who qualify (i.e., someone who joins the plan and is 50 years or older) can contribute up to $24,500 a year. To learn more about what options are available, it’s crucial you speak to a planning specialist. By working with someone who understands retirement, you’ll create a solid plan and ensure that you successfully enter and enjoy your retirement.
According to the survey, women often have a large gap in their financial savings at some point in their lives. They
WHY SMALL BUSINESSES ARE CYBERCRIMINALS’ NO. 1 TARGET AND WHAT YOU CAN DO TO PROTECT YOURSELF
Today’s small businesses are woefully unprepared for digital threats. Cybercrime is at an all-time high in 2018, and yet a frightening number of small-business owners assume that their organization is too small to ever warrant the attention of hackers. From the perspective of cybercriminals, most small and mid- sized businesses (SMBs) represent the low-hanging fruit of the digital world: a modest pile of cash guarded by outdated or easily circumvented barriers. That’s why 71 percent of cyberattacks are directed at SMBs, according to Verizon’s annual Data Breach Investigations Report, and a huge number of those strikes actually succeed. If you’re hoping to protect the business that you’ve built from the ground up, it’s important to be vigilant. Here are three steps you can take right now to drastically improve your chances at scaring off the wolves at your digital door: BACK UP YOUR DATA. A large majority of data breaches today come in the form of ransomware, which locks users out of everything on a company’s network. Hackers then threaten to delete the data forever unless the company forks over thousands of dollars. But if you have all of your files automatically backed up to an alternate location (that can’t be accessed on your ordinary
network), you can skip paying the ransom, let the criminals wipe your system, and make it through the crisis unscathed. TRAIN YOUR EMPLOYEES. It’s easy to imagine a team of evil geniuses typing at lightspeed to try to penetrate your business’s defenses, but 60 percent of the time, it’s a simple mistake by one of your employees that leaves the company wide open to attack. To combat this, you need to ensure that every single one of your employees is on board with strong cybersecurity practices. That means building a comprehensive cybersecurity policy that all members of your team must sign (including provisions such as password strength requirements) and supplying extensive training on the biggest digital threats. USE FIREWALL, ANTIVIRUS, AND ENCRYPTION SOFTWARE. Firewalls, which are usually included with your operating system, block unauthorized access to your network. Antivirus software serves as a watchdog, sniffing out malware and spyware before they become a problem. And encryption ensures that the data on your system is unreadable to anyone who doesn’t have the encryption key. All three of these powerful protections are inexpensive, user-friendly, and essential tools for businesses of all sizes seeking to stave off cybercriminals.
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Did you know fencing is making a comeback? No longer just for heartsick gentlemen of the Regency era, fencing is increasingly being taught in public schools, displayed in the pages of popular indie comics, and practiced among seniors. Plenty of baby boomers are picking up swords, or “sabers” — and it’s not because they’re preparing to fight dragons. Exercise is important no matter your age, but some activities are more beneficial than others. Research published in the journal Psychology of Sport and Exercise (PSE) suggests activities defined as “open-skill sports,” like fencing, can do more to improve brain health than “closed-skill sports.” The difference between an open-skill sport and a closed- skill sport lies in the dynamic nature of the activity. Going for a jog is great for your heart health, but your body is doing the same thing during the entire workout. This makes it a closed-skill sport. The same goes for swimming; you might have different strokes to choose from when you jump in the pool, but your brain is focused on repeating the action while doing your laps. WANT TO IMPROVE BRAIN HEALTH? GRAB A SWORD! THE BENEFITS OF OPEN-SKILL SPORTS OPEN OR CLOSED? Open-skill sports require players to respond to unpredictable circumstances in unpredictable ways. Fencing is a great open-skill sport because, while you have to learn the right way to hold the saber and move your body, you also have to think on your feet and react quickly to your opponent’s attacks. Researchers from the Foro Italico University of Rome believe that it’s the required adaptability that makes open-skill sports so good for your brain. You challenge your body with complex motor movements and your mind with fast decisions. In the study from PSE, the researchers reported that “the open-skill athletes used less brainpower to do the same thing than the closed-skill exercisers did.”
GREEN BEAN AND SESAME SALAD
INGREDIENTS
• 3 cups green beans, ends trimmed • 1 teaspoon white wine vinegar • 1 tablespoon olive oil • 2 tablespoons sesame seeds, toasted • 1 small red onion, finely chopped • Small bunch of fresh mint • Small bunch of flat-leaf parsley • Salt and pepper, to taste
DIRECTIONS
WHAT’S THE BEST OPEN-SKILL SPORT?
1. Bring a large saucepan of water to boil; cook green beans for 4–5 minutes; drain well. 2. In a blender, mix finely chopped mint and parsley with olive oil, vinegar, salt, and pepper. Blend until combined. 3. Add dressing, onion, and sesame seeds to beans. Toss together. Cool dish, then refrigerate until ready to serve.
If fencing isn’t your thing, there are plenty of other great open-skill sports, including tennis, badminton, basketball, and racquetball. What are you waiting for? Swing by your local rec center and find out what open-skill sport will be your new favorite pastime!
Inspired by Delicious magazine
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INSIDE THIS ISSUE
Meet Austin PAGE 1
Women and Retirement PAGE 2
3 Easy Cybersecurity Steps for Small Businesses PAGE 2
Fence Your Way to Better Brain Health PAGE 3 The Strangest Holidays in August PAGE 4
AUGUST’S SILLIEST HOLIDAYS ARE THESE ON YOUR CALENDAR?
February has Valentine’s Day; September has Labor Day; December, of course, has Christmas; and August has, um, National Raspberry Cream Pie Day. August may not host any major holidays, but it doesn’t lack for some of the goofiest on the calendar.
England, Left-Handers Day has taken off in the U.S. Righties are encouraged to try out a left-handed approach for the day. Lefties, for their part, are free to be themselves.
AUGUST 17: NATIONAL THRIFT SHOP DAY
AUGUST 6: NATIONAL WIGGLE YOUR TOES DAY
Thrift shops are a staple of American commerce, so it makes sense that there is a day devoted to them. Take the day to hunt for lost treasures and screaming deals. Many thrift shops also benefit nonprofit organizations, giving you even more reason to frequent them.
While the origin of this holiday is uncertain, it’s held every year on August 6. To celebrate, people are encouraged to wear sandals, flip flops, or other toe-exposing footwear. You can also frolic barefoot in the grass or simply stretch those digits throughout the day. Just don’t expect to see any Hallmark cards devoted to National Wiggle Your Toes Day anytime soon.
AUGUST 27: NATIONAL ‘JUST BECAUSE’ DAY
This celebration is really scratching the bottom of the holiday barrel. Joseph J. Goodwin created National “Just Because” Day in the 1950s. It’s a day to do something “just because.” Be spontaneous and have a little fun. There’s no one way to celebrate, which is fitting, given that the existence of the holiday seems to defy logic altogether.
AUGUST 13: LEFT-HANDERS DAY
About 10 percent of the population is left-handed. Lefties may be stuck in a right-hand-dominant world, but on August 13, they rule the roost. Originally founded in
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