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August 2022
CampbellWealth.com • (703) 535-5300 • 330 John Carlyle St., Suite 400, Alexandria, Virginia 22314
Hard Work and Determination THE FORMULA FOR SUCCESS?
From that experience alone, I’m very thankful for everything I learned and, more importantly, the work ethic that I grew up with. As a teen, I always had a job. In fact, when I first met my wife, I had two jobs. I’d get up at 4 o’clock in the morning to get to my first job at a body and fender car painting business. I’d work for a few hours, clean myself up, and head to work at my financial services job. Later that night, I’d return to the auto body shop to finish up the work on the car I’d painted earlier that morning and have it ready on time for the client to pick up. I owe this grit and determination to the work ethic instilled in me. So, I am thankful to my parents for all they taught me, especially the value of hard work. As we go through the month of August, take the time to think about your own work ethic. More importantly, consider where you got it from. Remember to be grateful for not only the people who instilled that determination in you, but also for all of the things that you’ve accomplished throughout your life because thanks to them, you know how to work like a dog and get things done. On a final note, I’d like to reiterate Campbell Wealth’s core values of integrity, service, and accountability and take a moment to zero in on the service aspect, for service plays a large role in a strong work ethic.
Famous NBA player Michael Jordan once said, “Some people want it to happen, some wish it would happen, others make it happen.” And, how accurate he was! Aug. 5 is Work Like a Dog Day, a day set aside to celebrate the strong work ethic in those who go the extra mile and put in the extra work to generate success and achieve their dreams and goals. Thus, it got me thinking about hard work and work ethic and how even today, I’m not sure that work ethic is as present in our society as it used to be. As a kid, I remember that as a family, we would always do a spring-cleaning in the yard. In the fall, we’d rake leaves — and of course, jump in the pile afterwards. We always did it as a family, and we did it until it was done. When we had company coming over, we all had jobs to do to collectively get the house prepared and freshened up. My work ethic goes a little farther than that and really stems from how industrious my father was. Many years ago, we moved into a house in Baltimore, Maryland, that was in complete disrepair. We had to literally add windows, take out an old decrepit staircase, and put in a new spiral staircase. The plumbing and electrical system needed to be completely redone, but we did it all. To this day, I can’t believe that we actually lived in that house.
As a company, we want to stand out from the crowd, and the best way we can do that is by providing not just great service, but also something that we’ve come up with called our “wow service.” We want to wow you with every interaction we have, and you, as our clients, are the center of our universe at Campbell Wealth. You deserve the best and highest level of service. So, look out for that wow experience, and we thank you for your trust in us! Enjoy your summer!
Kelly Campbell
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Changing the Scope of Exercise Live Longer and Stronger
Your body undergoes a variety of changes over the years, many of which are degenerative and can be debilitating to your health. But exercise can help slow these age-related issues, like heart disease or high blood pressure, and even prevent them in the long run. Here are four ways you can get moving without overexerting yourself. Walking or Jogging Taking a stroll around the neighborhood or a few laps around the park can help build stamina, strengthen lower body muscles, and help fight against bone diseases like osteoporosis. If you want to sweat it out some more, jogging might be a great alternative. But remember to be kind to your joints: Walk at a pace you’re comfortable with, wear supportive shoes, take breaks as needed, and walk on soft surfaces, like tracks or grass. Gardening While gardening doesn’t seem as vigorous as other exercises, it is a hearty physical activity. Digging around in the dirt is actually great for your immune system, and
it strengthens your arms, legs/knees, and balance. Mycobacterium vaccae, which is a bacteria commonly found in gardening soil, can alleviate symptoms of allergies, asthma, and even psoriasis. Cycling Whether it be in a class or outdoors, cycling can be very beneficial for stiff or sore joints. You’re able to get your blood flowing and build muscles in the front and back of your legs as well as your hips. Your arms are also strengthened due to the resistance of balancing your arms and shoulders to steer. Yoga Holding a series of poses can stretch and strengthen your muscles, tendons, and ligaments. It also helps lower heart rate and blood pressure and can even relieve symptoms of anxiety and depression. For older adults, a well-rounded workout that consists of endurance, strength, balance and flexibility can help in many ways. Some can even be fun!
A Legacy You Can Trust Your children and grandchildren will remember you fondly forever for the
The Importance of Legacy Planning
lifetime. This means that now more than ever, it’s important to put a legacy plan in place. Here’s where to start. The Difference Between a Will and a Trust A will is a legal document that facilitates the distribution of your wealth and property the way that you wish after you pass away. A trust is a fiduciary agreement that allows a third-party manager, or trustee, to hold assets on behalf of beneficiaries. A big difference between a will and a trust is that a trust goes into effect upon its creation and a will goes into effect upon your passing. Remembering Taxes When your wealth is passed on to your children and grandchildren, how will it be taxed and, more importantly, how can you minimize those taxes? Assets can receive a setup in basis, yielding a lower
capital gains tax, and both full and partial Roth conversions may lower taxes. In some cases, depending on the structure, a life insurance policy can even be put into place to distribute wealth to your beneficiaries tax-free. The SECURE Act The SECURE Act eliminates the usual “Stretch IRA” strategy that is relied upon to transfer wealth to your beneficiaries. So, instead of your children and grandchildren being able to take distributions when they want, most non-spouse beneficiaries must empty inherited accounts within 10 years. For more information on legacy planning or any of the rules and laws that come into play, we are here to help! Give us a call today to set up a time to chat about your financial goals!
memories, stories, chunks of wisdom, and advice that you’ve passed on to them thus far. But, now that you’re in retirement, have you considered how you will pass on your property, heirlooms, and wealth — one of the greatest gifts — to them as well? Proper legacy planning can be a bit of a tedious process, so it’s understandable if you haven’t yet created a plan for this. With the ever-changing laws regarding estate planning, it’s tough to know where to begin! However, in a recent tax plan proposal, the Biden administration is considering imposing a “wealth tax” that would no longer make it possible for descendants and their heirs to avoid income tax on increases in the value of their assets throughout the decedent’s
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Something’s Phishy
4 Common Financial Scams to Avoid
From dating swindles to Bitcoin and cryptocurrency hoaxes, it’s hard to tell the difference between honest offers and scams. Even worse, scams are becoming more creative every day. Here’s a list of some of the most common financial scams to be aware of. Cryptocurrency Scams Bitcoin and other cryptocurrencies have taken the world by storm. Because many people don’t understand how cryptocurrency works, it’s easy for cybercriminals to pull a fast one — or attempt to. To trick unsuspecting victims, scammers set up fake websites that mimic legitimate cryptocurrency platforms. These sites then either urge you to make investments or they will steal your information outright. Fraudulent Retailers On social media websites, you may have noticed suspicious online stores featuring deals that are too good to be true. At checkout,
instead of being directed to a trusted third-party payment process, these merchants may ask for wire transfers or gift cards. Some of these online stores might not even provide contact information! Fake Debt Collectors Criminals will claim to be government representatives and urge you to settle a debt putting you at risk of being arrested, losing your home, or forfeiting your Social Security benefits. These scammers will ask you to pay the fake balance upfront to avoid any serious repercussions. Remember, government entities do not cold-call, so you know to hang up or hit “delete.” Work-From-Home Scams As working from home has recently become the norm for many, this hoax has become
even easier for criminals to pull off. Cybercriminals will contact you, stating you can make hundreds of dollars a week doing nothing more than shopping online as a mystery shopper or another enticing task. They will then tell you that to get started, you’ll need to pay
upfront for training materials — but once you do, you’ll never hear from them again. As a general rule of thumb, stay clear of any offers that seem too good to be true. Likewise, avoid transactions that don’t use a trusted third-party merchant and always do your research! If something seems off, trust your instincts! In today’s world, you never know what hoaxes exist!
Take a Break!
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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 and let’s 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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Work Like a Dog Day
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4 Simple Yet Effective Ways to Work Out
Do You Have a Legacy Plan?
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Avoid 4 Common Financial Scams
Take a Break!
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What to Consider Before Buying an RV
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.
Embarking on an RV Journey
3 Tips for Seniors Before Buying an RV
You can tour the country without ever having to leave your home — motor home, that is! Seniors around the country are all hopping aboard the RV train because it’s a great way to get up close and personal with nature while being free to go where you want. One morning, your backyard can be Yellowstone National Park, and the next, you’re in the Mojave Desert! If you’re looking to purchase an RV in your golden years, here are some tips.
additional perk is that insurance is usually cheaper on pre-owned RVs!
Don’t rule out pre-owned RVs. RVs can be expensive, depending on which model you are looking into. In some cases, opting to purchase a pre-owned RV can save you a great deal of money. And, if you get a great deal on a pre-owned one, you can repair, renovate, and redecorate it to your liking with the money you saved. An
Do your research. There is much more to buying an RV beyond the actual shopping experience. You have to also learn to drive and/or tow it! Before making a purchase, be sure to research and look up reviews on the driving experiences of other owners of the same make and model. An RV can be a second home, so take your time and make sure you’re getting exactly what you want. Before making your decision and pulling the trigger on your brand-new RV, make sure you’ve done your homework and are prepared for life on the road! A huge adventure awaits — the best thing you can be is prepared!
Rent one first. Renting an RV before you make the
commitment to buy one is the way to go, especially if you’ve never taken a trip in one before! This way, you can take it for a nice long test drive and determine which features are must-haves and which you can do without. It’s also a great way to make sure you’re okay being in such a small space with your family, partner, or travel buddy!
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