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(502) 426-0000 ∙ www.Roberts.cpa 201 Townepark Circle, Ste B-1 Louisville, KY 40243 163 Dennis Drive Lexington, KY 40503 TUNES THROUGH TIME Smart Money Monthly The Soundtrack to Our Stories I can’t recall a time when music wasn’t in my life. June 2025
“No matter what musical styles or artists you enjoy, I hope they fulfill you as much as mine fulfill me.”
As I write this cover article, I’m listening to songs off Spotify’s Christian playlist. I pretty much have music playing all day long — well, at least until the batteries in my AirPods wear out! Music has been on my mind and in my ears even more than usual lately, as June 21 is World Music Day. While there are a lot of holidays and special events throughout the year, this one really resonates with me. My earliest exposure to the joys of music was when I’d sing along to the piano music at church as a child. I loved singing in a group — it always sounded better than my voice alone! — and the way the sounds made me feel. Once the ‘80s rolled around, I began listening to Michael Jackson, Def Leppard, Journey, and other major acts of the era. Although it’s been decades, that music remains timeless. Aside from my early days at church, I didn’t know Christian music existed until I became a parent years later. When our kids were still small, my wife and I weren’t too keen on them listening to the typical trash on the radio when they’d ride with us in the car. While searching for alternatives to the usual Top 40 soundtrack, I came across local Christian stations presenting safe, clean, and inspirational music. I’ve been an avid fan of the genre ever since, to the point where I listen to it at home and in the office. Naturally, I have my favorite Christian music artists. If you’re unfamiliar with modern acts, the rock band MercyMe is worth a listen. As great as it is to listen to music on AirPods, nothing beats experiencing it live in concert. The Grammy Award-winning duo FOR KING + COUNTRY put on the most recent concert I attended, and I can’t recommend them enough. While their music is fantastic, their life story is equally fascinating and uplifting. Born in Australia, brothers Joel and Luke Smallbone moved to Nashville with their family in the early ’90s. Soon, the family experienced considerable setbacks, including financial strain and the pressures of being foreigners attempting to thrive in a new city. Eventually, they rose above their many challenges with the brothers
and their sister, who goes by the stage name Rebecca St. James, later finding tremendous success in the music industry. A fantastic movie released last year, “Unsung Hero,” chronicles the Smallbones’ early years in America. It’s a remarkable journey worth watching the next time you want something positive on your screen. No matter what musical styles or artists you enjoy, I hope they fulfill you as much as mine fulfill me. Perhaps the best thing about music is that it helps us get through the hustle and bustle of our daily lives, boosts our energy levels, and puts a smile on our faces. While we can’t control everything in life, the perfect soundtrack is always at our fingertips
— and few things are more comforting than a favorite song. I hope you celebrate World Music Day by playing the tunes that make you tap your feet, sing along, and approach the day with a clearer mind and a more hopeful spirit. I sure will! —Kevin Roberts
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Say Yes to the Celebration, Not the Overspending CELEBRATE YOUR LOVED ONES WITHOUT BREAKING THE BANK
When wedding season rolls around and birthday invites start stacking up, it’s easy to feel like your wallet is under attack. Between flights, gifts, and party attire, the cost of celebrating your loved ones can add up fast. But with planning and savvy spending, you can still show up for the big moments without blowing your budget. Plan ahead like a pro. Before you say "yes" to every invitation, take a moment to map out your year. Write down weddings, birthdays, baby showers, and graduations you hope to attend. Once you see them
Be honest about your budget. Money can be a tricky subject, but being upfront about your financial situation can help you avoid unnecessary stress. If an event is out of your budget, have an honest conversation with the host. Most people will be understanding and actually appreciate your transparency. Be sure to express gratitude and excitement for their big day, even if you can’t be there in person. Stay connected in creative ways.
Just because you can’t attend doesn’t mean you can’t celebrate! Send a thoughtful gift within your budget, offer to help with planning, or schedule a video call to toast their milestone. Your presence matters more than your presents, and true friends will appreciate any effort you make to share in their joy. Ultimately, celebrating your friends and family shouldn’t come with financial stress. The best memories don’t come from the most expensive gifts or the fanciest flights. They’re built on laughter, love, and the moments you share, no matter what that looks like.
all in one place, estimating your total spending is easier. Set a realistic budget for each event, and don’t forget to factor in travel, gifts, and attire. Always do your research and verify prices for flights, hotel rooms, and registry gifts. Cut costs without cutting fun. Once you have a budget, look for ways to trim expenses without missing out on the fun. Instead of buying a new outfit for every event, consider re-wearing something you already own or borrowing from a friend. If travel is involved, check if you can split an Airbnb or crash on a friend’s couch.
CASH BEYOND CAREERS
Surprising Sources of Stars’ Wealth
A music icon with a millions-generating side career. A famous artist whose cash didn’t come from canvases. A seasoned journalist with a seven-figure family inheritance. Here are tales of three celebrities who built their finances in ways beyond what made them famous. From Stage to Spirits A music star since the early ’70s, singer Sammy Hagar is best known for his stadium-filled stint as the frontman of Van Halen in the ‘80s and ‘90s. However, this legendary frontman has made more money from tequila than he ever has from tunes. His Cabo Wabo brand — named after his already successful chain of clubs and restaurants — became popular enough for him to sell an 80% share of the company for $80 million. Considering that his income
also includes royalties from the 27 million albums he’s sold with Van Halen, it doesn't appear he’ll need to busk on the streets for money any time soon. Happy Trees, Art for Free If you were an ‘80s/’90s kid, you likely remember “The Joy of Painting,” a PBS show hosted by big-haired artist Bob Ross. Millions of viewers embraced his calm demeanor and frequent references to “happy little trees,” … and it didn’t earn him a dime. Instead of accepting a salary for his work on TV, Ross built most of his fortune by marketing art supplies while giving away most of the paintings he created on air to charity. A TV Anchor’s Stunning Safety Net As one of the most recognized names in television news, Anderson Cooper has helped build CNN into a cultural institution and his bank account into a $200 million success story. Although that figure ensures he’ll never need to apply on Indeed if CNN ever goes off the air, a $1.5 million inheritance also cushions his livelihood — a sum supplied by his late mother, fashion industry icon Gloria Vanderbilt.
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Daily Dips, Deep Dents
Inspired by EatingWell.com
Golden Summer Squash and Corn Soup
INGREDIENTS
• 1 tbsp extra-virgin olive oil • 1 medium shallot, chopped
1. In a medium saucepan, heat oil over medium heat. Add shallot and cook for 1 minute. 2. Add squash and 1 tsp herbs; cook 3–5 minutes until the squash softens; stir occasionally. 3. Add broth and salt; bring to a boil. Reduce heat to simmer and cook for 5 more minutes until squash is soft. 4. In a blender, purée soup until smooth. Return the soup to the pan and stir in corn. 5. Simmer over medium heat and cook 3–5 minutes until corn is tender, stirring occasionally. Remove from heat; stir in lemon juice. 6. Serve garnished with remaining 2 tsp herbs and feta • 2 medium summer squash (about 1 lb), diced • 3 tsp chopped fresh thyme or oregano, divided • 1 14-oz can reduced-sodium chicken or vegetable broth • 1/4 tsp salt • 1 cup corn kernels (from 1 large ear) • 1 tsp lemon juice • 1/4 cup crumbled feta cheese DIRECTIONS
When it comes to successful financial planning, your daily stop at the coffee shop may have more impact on your bottom line than your motor vehicle insurance. Considering how hard we work for our income, we should all be entitled to enjoy the simple pleasures in life. Unfortunately, seemingly insignificant expenses on everything from bagels to beauty add up in ways that may surprise you. Here are a few common indulgences that greatly impact our cash flow without us realizing it. The Morning Ritual Money Vacuum For millions of Americans, there’s no better way to start the day than with a hot cup of coffee and a delicious doughnut or bagel — a combination that keeps the shops that supply them very wealthy. There are nearly 10,000 doughnut shops across the country, and almost all earn anywhere from $8,000 to $42,000 in monthly revenue. That’s a lot of profit from powdered sugar — and a considerable dent in most cruller connoisseurs’ budgets. And since doughnuts tend to go great with coffee, it may interest you to know your daily java jolt costs you more than $1,000 a year. The Big Bucks Behind Beauty If you frequently spend money on products that give you ruby lips, pay close attention to your recipients. The quest to look the best drives women to spend nearly $4,000 on cosmetics and beauticians annually, while the average man will drop around $3,000 to achieve similar aesthetic goals. Wallet-Shrinking Chicken Wings For football fans, there’s no bigger day than Super Bowl Sunday — and supermarkets feel the same way. All the chips, dips, and chicken wings bring in nearly $18 billion for a single weekend event. A Super Bowl party may be great fun, but it’s also a quick way to drain February funds. Speaking of one-day spending sprees, all those spooky costumes and candies purchased for Halloween add up to at least $11 billion every October. How’s that for a spooky season scare? ‘Small’ Costs That Snowball
SUDOKU
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INSIDE THIS ISSUE 1 Melodies and Memories 2 Weddings, Birthdays and Baby Showers — Oh My!
Unknown Feats of Famous Fortunes
3 The Big Price of Basic Things Golden Summer Squash and Corn Soup 4 Pass Down More Than Just Money
Protect What Matters Most Your Family, Values, and Wealth
When people hear the term “estate planning,” they think of wills, trusts, and the legal steps to distribute assets after death. But what if there’s more to planning than just securing finances? Legacy planning goes a step further, focusing on preserving values, beliefs, and the well-being of future generations. It’s about leaving a mark that transcends material wealth — creating a lasting impact on your family, community, and causes you care about most. Though estate and legacy planning are similar in many ways, the two have key differences. You must ask yourself what you want the world to remember you for. Is it simply ensuring your assets are divided fairly, or do you want to pass down wisdom, tradition, and a sense of purpose? Protect what you built. Estate planning is the process of preparing a plan for what will happen to your property, money, and other valuable assets when you pass away. It’s focused on the financial details and the legal steps to ensure everything goes smoothly for your heirs. Your estate is not about you; it’s about what you own. Through estate planning, you create legal documents that spell out every aspect of asset distribution, ensuring there are no surprises, complications, or disputes for your loved ones. You’ll look at how to reduce the estate’s taxes so more of what you’ve built over your lifetime goes directly to your family. The main elements in an estate plan are wills and trusts, designating a power of attorney, establishing health care directives, and choosing who will act as guardian to your children if you die or become incapacitated. Emphasize values over valuables. Legacy planning includes all of the same designations and protections, but it goes far beyond finances, getting into abstract valuables in your life. The
focus is on the lasting impact you want to leave behind and the values you hope to instill in younger generations. While you think about the essentials, like who will care for your children, you also consider what you’re most passionate about. You can chronicle your personal history, the experiences that shaped you, and the life lessons that matter most through a legacy letter, a personal document to accompany your will. Legacy planning often includes family meetings so you and your loved ones can discuss your values together and learn the reasoning behind your choices. This is also an opportunity to give back to the philanthropic causes that bring you joy and purpose. If you volunteered for a nonprofit for many years, are a proud alum of your college, or want to support a social cause, you can establish charitable foundations, scholarships, or endowments in your legacy plan. Cover all the bases. Legacy and estate planning are crucial parts of a comprehensive and holistic plan for your future and the people you love. When you have both in place, they can complement each other and provide a greater sense of peace and confidence that your wishes will be respected. By combining both strategies, you address your financial and legal responsibilities while prioritizing your ethics. This comprehensive process provides for your family and secures funds to support the causes you care about. By addressing the financial and emotional aspects of estate planning, you can leave behind a legacy that secures your family’s well-being and leaves a lasting mark.
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