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FEBRUARY 2024
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BEYOND TIT-FOR-TAT Why It Pays to Be Kind ‘Just Because’
February is a month that is commonly associated with love, and as Valentine’s Day approaches, we often see symbols of love like hearts and roses everywhere. However, another day in February often goes unnoticed — Random Acts of Kindness Day on Feb. 17. This holiday is about showing kindness to others because it is the right thing to do. I think the principle of being kind “just because” is something that should apply to everyone, whether you’re at work, home, or out in public. It’s about treating others with respect and kindness, just as you would want to be treated yourself. It’s a universal truth that should encourage all of us to lend a helping hand without expectation of anything in return. My fiancée, Bridgette, is quite literally the embodiment of kindness, and it’s one of the many reasons I consider myself a lucky man. She is always on the lookout to help others — her compassion and love for life always on full display. Recently, I stumbled upon a quote that fits our relationship perfectly: “There is no score in love.” This sentiment challenges the conventional idea of expecting a 50‑50 balance in relationships. In reality, 50-50 rarely exists. Most days are 20-80 and others may be 60-40 in the other direction. Thankfully, I have had a wonderful example of love from my own parents. To me, love is about your commitment to give unconditionally with the realization that the road ahead will be full of setbacks, struggle and pain. In those moments I will remind myself that love conquers all and always prevails.
my favorite dish — mussels fra diavolo with linguine. It’s not just the delicious food; it’s the time and effort she dedicates to making my day special. Her gesture is a perfect example of doing something for someone because you love them, not because you expect anything in return. Let’s just say, I am never going hungry in my household! In fact, Bridgette doesn’t even like spicy food — so I know the only reason she goes through the labor of making it is because it’s something I enjoy. However, my love for Bridgette goes beyond the delicious meals she prepares. She always looks after me, whether it’s by filling my stomach or lending an ear. Our relationship is built on giving without expecting anything in return. We fully commit ourselves to each other without keeping score. That’s why, in a world where tit-for-tat exchanges often dictate our interactions, my relationship with Bridgette reminds me of a valuable lesson: “You make a living by what you get, but you make a life by what you give.” For me, my fulfillment in life comes from committing myself fully to the causes I am passionate about, my family, my work and of course Bridgette. So, as we celebrate Random Acts of Kindness Day and navigate the love-filled month of February, let us all try to be kind to one another in our daily lives, whether it’s at work, home, in public, or anywhere else you find yourself this month. Let us experience the happiness that comes with giving, appreciate the beauty of selflessness, and remember that love and kindness are not competitions but rather endless opportunities to lead and serve those around us. – Austin Kobilka
Bridgette’s kindness and love is on display everyday but especially on my birthday every year. Every year, she cooks
These articles are designed to provide general information on the subjects covered. They are not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Patriot Wealth and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney. Investment Advisory Services is 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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BEYOND BUSINESS Teaching Teens Wealth Mastery
FOSTERING A CULTURE OF FINANCIAL ACCOUNTABILITY Educating students about saving money and sound investment strategies promotes fiscal responsibility. They learn about the long-term benefits of compound interest and regular investing. Teens can build on their financial knowledge as they see the benefits of sound financial decisions.
In today’s challenging financial world, equipping high school students with personal finance tools is essential. Arming young adults with the skills necessary to navigate the monetary challenges they’ll face is much like any traditional academic discipline. Here are a few of the tools they’ll need in their repertoire. BUILDING A ROBUST FINANCIAL FOUNDATION Helping students learn fundamental financial skills like budgeting, saving, and investing instills a deep respect for the value of money. Parents and school classes can help them understand credit, loans, and debt management to steer them away from potential financial pitfalls when they later make decisions about loans and credit cards. Practical lessons on tax filing and understanding employee benefits are invaluable, preparing them for adulthood and independence. SHARPENING DECISION-MAKING ABILITIES In personal finance, high schools can play a pivotal role. Students can be encouraged to read the financial news to understand market trends and make more informed financial decisions. Teaching them how to set realistic financial goals for significant life events, such as attending college or purchasing a vehicle, teaches planning and discipline, key aspects of successful financial management.
ADDRESSING THE WEALTH GAP AND ADAPTING TO CHANGE Financial literacy is a powerful tool in bridging the wealth gap. Providing all students, no matter their background, with financial knowledge is a step toward leveling the economic playing field. As the global economy evolves, young people
with personal finance skills are better prepared to adapt to changing job markets, investment trends, and saving strategies.
Parents and guardians can make a considerable impact in lobbying local school districts to value and include personal finance education in high school and teaching it in their homes. Young people will be able to face life’s financial challenges confidently. As we nurture our youth for their future roles, their financial literacy is vital to fostering a society of economically stable and responsible individuals.
3 Quotes That Exemplify Giving for the Future
These days, it seems like everyone expects something in return for kindness, and you or they may not be able to provide it. How would your thought process shift if you didn’t expect anything, if you focused on the future? National Random Acts of Kindness Day is on the 17th and with it brings a new opportunity to explore this question. I’ve thought of four quotes from my favorite authors and investors that can exemplify this mindset shift.
I risking, and why am I risking it? It also allowed me to define my personal “enough.” I encourage you to think through these questions as well. What are you risking, and why is it enough? What about your loved ones? How does this fit into your future? As you can tell, Housel is one of my favorite authors. In another book, “Same As Ever,” Housel writes, “You can only be an optimist in the long run if you’re pessimistic enough to survive in the short run.” This quote eloquently strikes the balance between optimism and pessimism. Many times, these words can feel conflicting, but in reality, they can coexist on a spectrum. The belief that things will get better is mixed with the reality that the path between now and then
will be a continuous chain of setbacks, disappointment, surprise, and shock. Philosophically, this is why we have an emergency fund. For example, we lose our job and have no income for a year. Because we were pessimistic enough to build that emergency fund, knowing that a shock, disappointment, or setback would occur, we are now able to reap the rewards of our long-term optimistic outlook since we do not have to liquidate investment assets, which can continue to compound. Charlie Munger is one of the greatest investors the world has ever known. He writes, “The first rule of compounding is to never interrupt it unnecessarily.”
In “The Psychology of Money,” Morgan Housel wrote,
“Do not risk what you have and need for what you don’t have and do not need.” To me, this quote feels like a gut punch! It really made me think about risk in a new mental paradigm. First and foremost, what is risk? What am
It’s simple yet powerful. In order for compounding to work its magic, you
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Social Security and Medicare Updates Make Sure You’re Informed
Inspired by FeastingAtHome.com MARRY ME CHICKEN
INGREDIENTS
As we settle into the new year, we want to inform you of some
• 3 boneless chicken breasts • 1 tsp salt and pepper • 1 tbsp olive oil • 3 cloves garlic, minced
• 1 cup chicken broth • 1/2 cup heavy cream • 3/4 cup sun-dried tomatoes • 1 tsp dried oregano • 1/2 tsp red pepper flakes
new Social Security and Medicare updates. These changes went into effect on the first of the year. Read on to see three changes this year. The maximum benefit you can receive has shifted this year,
1. Season chicken with salt and pepper. In a skillet over high heat, add olive oil and allow it to heat up. Then add chicken. 2. Let cook for 6 minutes or until golden brown. Repeat on the other side. Remove cooked chicken to a plate and set aside. 3. Reduce heat to medium and add minced garlic, broth, and heavy cream to the skillet. Stir sauce for 1 minute. 4. Add sun-dried tomatoes, oregano, and red pepper flakes to the mixture. 5. Bring sauce to a simmer, then reduce heat to medium-low. Add chicken back to the skillet, coating each side. Cook until chicken reaches 165 F. DIRECTIONS
depending on your age. The U.S. Social Security Administration (SSA) has made this change for the third year in a row to help keep up with rapid inflation. Those who retire at 70 will receive $4,873, while those who
retire at 62 will receive $2,710. If you retire at 65, or the usual retirement age, your benefit will max out at $3,822. You may have noticed a change in your monthly payment already! There’s also an increase in your Medicare Part B premium cost. Your monthly bill will rise by $9.80 to $174.70 for 2024 — that’s an increase of less than $120 per year. As a reminder, you can’t have your premium adjusted unless you appeal to the Department of Health and Human Services (HHS) to show a significant change in your income. That change can be the result of divorce, the death of a spouse, loss of pension, a retirement, or other major life event. As usual, those with higher incomes will pay more because of IRMAA or income-related monthly adjustment amounts. There is also a change to the earnings used to determine a trial work period for Social Security Disability. It is now $1,100 per month. As a reminder, this trial work period is for those who want to test their ability to work while still being considered disabled by the SSA. The SSA does not stop disability payments until work has been performed for nine months in a rolling 60-month period; this timing does not have to be consecutive. These are just three of the updates that may affect your Social Security or Medicare benefits. If you haven’t yet retired, you can calculate your benefit on the SSA website. We’re happy to answer any questions and help you plan for your retirement. Call our office to set up an appointment today.
JUST WAIT FOR IT
must not interrupt it. It’s easy to discount how much progress is achievable while waiting around. They say a watched pot never boils. Just as with compounding, waiting to have your kindness reciprocated is a mode of interruption. It’s better to not interrupt the process. Just give freely for future happiness —set it and forget it. Housel expands on this thought process, too: “‘What are the odds the average American will be twice as rich 50 years from now?’ This question sounds a bit ambitious. Doubling what we currently have? Now, what if I said, ‘What are the odds we can achieve 1.4% average annual growth for the next 50 years?’ I almost sound like a pessimist. But those two numbers, of course, are the same. Let time work its magic.” Expecting an immediate response or regifting kindness isn’t the way to go about life. Maybe your kindness will lead to opportunities in your career, love life, or investments. Maybe it won’t. It’s best to adjust your expectations so your acts of kindness, and the more organic happiness it brings you, are enough. These quotes are just jumping-off points to reframe your thought process for this national kindness day. I encourage you to read these books too, center giving without expectations, and “let time work its magic.”
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PATRIOT WEALTH 4350 Lassiter at North Hills Ave. #240 Raleigh, NC 27609 INSIDE THIS ISSUE The Art of Being Kind Without Expectations PAGE 1
Helping Young People Learn Fiscal Responsibility PAGE 2
Celebrating Random Acts of Kindness Day PAGE 2
Marry Me Chicken PAGE 3
2024 Changes That May Affect Your Benefits PAGE 3
Meet Tank, a Canine Companion and Protector PAGE 4
A HEROIC HOUND’S STORY The Bravery of Tank the German Shepherd
In a remarkable display of courage and instinct, a German shepherd named Tank recently became an overnight sensation. His heroic act, captured in a TikTok video with over 45 million views, showcased the extraordinary bravery of our canine companions. Tank’s story begins on an ordinary day that quickly turned extraordinary when he saved his owner’s 6-year-old son from a dog attack in November 2022. As the boy played in the front yard of his South Florida home, a neighboring dog, unrestrained and aggressive, charged toward him. In an instant, Tank leaped into action. The dog pushed the boy to the ground and then placed himself between the boy and the oncoming threat, averting a possible tragedy. Tank’s quick thinking and fearless stance saved him and demonstrated the innate protective nature of German shepherds. German shepherds are a breed recognized by the American Kennel Club for their loyalty and protectiveness, making them the first choice for families seeking a dependable guardian. Like many German shepherds, Tank possesses a unique blend of courage, intelligence, and loyalty. These dogs are not just pets; they are devoted protectors and family members willing to put themselves in harm’s way for their loved ones.
Tank’s story is more than a viral sensation; it’s a testament to the deep bond between dogs and humans. His actions remind us of dogs’ invaluable role in our lives, offering unconditional love and unwavering protection when needed.
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The boy’s mom wrote on social media that Tank is their “highly skilled professional home security officer.”
“This is Tank & no, he is not professionally trained. He’s just a man with killer instincts, who loves a good chew toy,” she wrote after posting a video of Tank playing with his favorite toy. In today’s world, Tank stands out as a true hero. As we watch Tank’s story, we are reminded of the extraordinary capabilities of our four-legged friends and their profound impact on our lives. It’s a reminder that sometimes, heroes don’t wear capes; they have four paws and a tail.
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