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SEPTEMBER 2018
PATRIOTWEALTHNC.COM
PHONE | 919.322.4113
PATRIOT WEALTH
FINANCIAL ADVISOR ISN’T ENOUGH WE NEED TO BE FINANCIAL EDUCATORS
Sometimes, to accomplish feats you never thought possible, you simply need to be held accountable. Mr. Smith was my 11th grade history teacher. He was one of those guys who wouldn’t dance around anything — a real straight shooter. But even more so, he had this innate ability to look past the shell of a person and see the potential for greatness inside of them. What made him a phenomenal teacher was that he didn’t stop at just witnessing promise. He’d find that spark inside you and do everything in his power to start a wildfire. Sometimes that meant pushing you beyond your comfort zone, but he would never do so condescendingly. If you responded to his challenges, he was right there by your side encouraging you past your breaking point. It inspired me then and inspires me now. So much of what we do in financial advising revolves around helping our clients achieve their financial goals, but that can’t be done without investing in modern-day best practices. If you’re not constantly on the knife’s edge of what’s relevant in your field, you can expect to be left in the dust. As a steward of our clients’ finances, we have to continuously grow so we can make a meaningful difference in their portfolio — and subsequently, their lives. In today’s information age, the internet provides a wealth of teachings via blogs, podcasts, and videos to name a few. From a personal growth prospective, I find they can be powerful tools in providing access to the brightest minds in the financial arena. Learning is just one step toward the ultimate goal of empowering our clients. The next step is even more crucial because it translates directly to the foundation of what we do. If we have information, we need to use it to benefit people. Every advisor should be a teacher. Our broken system exemplifies sales over education. The fundamental flaw with this concept is that it doesn’t put the client’s best interests at
heart. The drive for profit becomes more of a concern than the client’s understanding. That’s why we started teaching our own classes. We saw the potential impact we could have on our community by sharing the knowledge we have. Nearly six years ago, we started teaching classes at NC State (Go Wolfpack!). After the great responses we received from teaching classes, we saw there was a need to provide smart financial and retirement classes nationally, on a scalable and efficient level. This is when Rick and I co-founded Retirement Wealth Academy, alongside Jason Wenk, CEO and Chief Investment Strategist of FormulaFolios. The Retirement Wealth Academy exclusively welcomes like-minded educators who share our values: to teach a disciplined approach to financial planning, to provide an objective outlook on retirement investing, and to empower students with a comprehensive understanding of complex financial topics. A great educator has to take a complex topic and communicate it in a way that delivers that “aha!” moment. If I start talking to a normal person about a moving average crossover, that’s not going to help them at all. We need to break down each targeted approach to its essential parts and relay that information in a way someone can understand. If a client can’t grasp the concept, then we need to regress to progress — dissect it further and then slowly build it back up. Mr. Smith was a great educator because he held me to a standard and never let me settle for anything less than what I’m capable of. I take that inspiration, and I attempt to share it with my clients every day. I may never be the teacher he was, but I will never stop trying.
— Wes White
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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NEW AND REDISCOVERED PASSIONS IN LATER LIFE A GUIDE TO PICKING A POST-CAREER HOBBY
Aside from financial concerns, the No. 1 question that most impending and recent retirees struggle to answer is how they will fill up all their time. While spending time with family and relaxing are priorities for most folks entering the post-career chapter of their lives, these aren’t enough to fill up the bulk of your newly acquired free time. Cultivating a hobby is a great use of your time at any age, but especially during retirement. As Dick Van Dyke once said, “To me, retirement means doing what you have fun doing.” Here are three questions to help you discover a hobby that’s right for you.
painted for pleasure during college but put the canvas away to focus on your career. Perhaps you were once a chess fanatic, and today you find your board gathering dust from lack of use. Now is the perfect time to rediscover those once-beloved activities.
passion at the same velocity as the footballs Bledsoe threw.
IS THERE A CAUSE YOU WANT TO SUPPORT?
Volunteer work can be incredibly fulfilling, especially when you have the time and energy to devote to it. Many older adults find that giving back to the community adds meaning and purpose to their lives. The best way to figure out how to donate your time is to think about a cause dear to your heart. From there, find a reputable organization that supports said cause, and see what you can do to help. Retirement is the perfect opportunity to throw yourself head-first into something you’re passionate about. So what are you waiting for?
WHAT HAVE YOU ALWAYS WANTED TO DO?
Discovering new hobbies is just as rewarding as rekindling old ones. Have you ever heard about a pastime and thought, “I’d love to do that, if only I had the time”? Former NFL quarterback Drew Bledsoe opened a winery after retiring from football. While you probably don’t have the financial resources of a professional athlete, there’s nothing stopping you from pursuing a newfound
DO YOU HAVE A DORMANT PASSION?
Work has a tendency to put our other interests on the back burner. Maybe you
ARE YOU PREPARING FOR YOUR FINANCIAL MARATHON WITH SPRINTS? TRAIN YOUR PORTFOLIO LIKE YOU’D TRAIN FOR A RACE
Running a marathon is a grueling task. It requires peak physical fitness, specific dietary requirements, and the mental fortitude to see the race through. But the training regimen for a marathon can be almost as brutal as the event itself. Every day requires a commitment to pushing your body beyond its limitations. With each stride forward, your body engages in a miniature dialogue that creates a binding verbal contract with your brain, holding it to a standard that begets newfound personal achievement. Your investment portfolio should have strikingly similar characteristics. However, without a conversation about mutual expectations, many clients want to believe they can train for the marathon that is their portfolio by running sprints. When race time comes for these investors, they find themselves incapable of finishing because of the lack of depth in their portfolios. Marathon training isn’t always sexy, and neither is building an investment portfolio. In truth, effective asset accumulation throughout life comes down to intent risk-management and detailed oversight. Those who are capable of putting money aside to save, living within their means, and creating a detailed budget end up with portfolios that have more potential for
long-term growth. By practicing delayed gratification in their finances and committing to the struggle that is saving, they can find previously unimaginable success with money. Running your investment race can be rewarding with the right training beforehand and execution during the event. At Patriot Wealth, we help people every day prepare for their races — and most importantly, execute them across a lifetime. We thrive off of gritty work, and we prioritize communication so that you stay in the loop about your finances at all times. When you run a marathon, your results are predictable, and we believe your wealth management should be too. Reach out to us today so we can show you how we use the fiduciary standard and ethics to accomplish your investment goals.
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3 REASONS YOU NEED A TRUSTED ADVISOR FOR YOUR FINANCES
JUST BECAUSE YOU CAN DO IT ON YOUR OWN DOESN’T MEAN IT’S BEST
Technology in modern society is accelerating at a head- spinning rate. Everywhere you turn, there’s marketing automation, artificial intelligence, and even an app that can flush your toilet. The world of investing has latched on to technological advancements and, in the process, has placed asset management in the hands of the individual. Apps are popping up left and right that allow people to invest on their own, and while the freedom to do so is incredible, it begs the question of whether or not it’s best for the masses. Here are three reasons why you want a professional managing your wealth.
TRENDS
Assets are subject to an immense degree of volatility at all levels. Without proper market analysis, complete with a detailed breakdown of current and projected trends, your money can be subjected to avoidable losses. A money manager spends time studying the interaction of your wealth with these trends to maximize growth.
• 1 small loaf French bread, cut into 1-inch cubes (6 cups) • 3 tablespoons extra-virgin olive oil • 2 large tomatoes, cubed • 2 red bell peppers, seeded and cubed • 1/2 red onion, thinly sliced • 1 cucumber, sliced into rounds • 20 basil leaves, chopped LATE-SUMMER PANZANELLA INGREDIENTS
QUALIFICATION
In the same way that doctors and lawyers are required to have qualifications to do their jobs effectively, so do wealth managers. Designations aren’t meant to represent classist degradation to those who don’t possess them, but rather to protect investors. Would you want a doctor who didn’t go to medical school to operate on you?
ATTENTION
There are only so many hours in a day you can check your Robinhood or Fundrise app. An asset manager spends every day looking at your portfolio to ensure its trajectory is on path with your mission. By applying their knowledge and individual attention to your goals, your funds can potentially see a significantly better increase than if you had tried to do it on your own. Perhaps the biggest gain from a having a professional manage your money is peace of mind. We help people every day plan and sustain their futures. If you’re ready to stop trying to build wealth on your own and find a collaborative relationship committed to your goals, reach out to us today.
• Salt, to taste • Vinaigrette
DIRECTIONS
1. Place a large sauté pan over medium-low heat and add olive oil. Add bread and 1 teaspoon salt and toss often for 10 minutes or until toasted. 2. In a large bowl, mix vegetables and herbs. Toss in bread and your favorite vinaigrette and mix again. 3. Serve immediately or let sit 30 minutes to allow the flavors to meld together.
Inspired by Food Network
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PATRIOTWEALTHNC.COM PHONE | 919.322.4113
INSIDE THIS ISSUE
Why Learning Is at The Center of Everything We Do PAGE 1
What Have You Always Wanted to Do? PAGE 2
Your Financial Marathon PAGE 2
Late-Summer Panzanella PAGE 3
3 Reasons Not to Manage Your Portfolio on Your Own PAGE 3
International Talk Like a Pirate Day PAGE 4 YO HO HO, LANDLUBBERS! CELEBRATE TALK LIKE A PIRATE DAY
Ahoy, matey! Wednesday, Sept. 19, is International Talk Like a Pirate Day. Brush up on your pirate vocabulary, grab your eye patch, get your puffy shirt dry cleaned, and bring a little seafaring fun to your office or classroom.
only date he could remember besides Christmas and the Super Bowl). In 2002, they pitched the idea to humor columnist Dave Barry, who promoted it in his syndicated column, and the concept quickly spread internationally.
Johnny Depp’s Captain Jack Sparrow. Unfortunately, the pirates of the Golden Age didn’t leave behind any YouTube videos to confirm this.
LEARN THE LINGO, LANDLUBBER
THE HISTORY OF THESE SWASHBUCKLING SHENANIGANS
DID PIRATES REALLY TALK LIKE THAT?
Participating in Talk Like a Pirate Day is easy — you just need to know a few key phrases. “Ahoy, matey” means “Hello, friend!” “Blimey, that son of a biscuit-eater hornswaggled me out of me doubloons” means “Darn it, that jerk cheated me out of my money!” “Shiver me timbers, that old
The “pirate-speak” popularized in movies and Disney attractions probably sounds nothing like real pirates did in centuries past. Today’s swashbuckling
The holiday began as an inside joke between pals John Baur and Mark Summers in 1995. For reasons not even understood by themselves, they began speaking like pirates while playing racquetball, saying things to each other like, “That be a fine cannonade” (“Nice shot, dude”) and “Now watch as I fire a broadside straight into your yardarm” (“But watch this”). They decided Talk Like a Pirate Day needed to become official, so they chose Sept. 19, which was Summers’ wife’s birthday (and the
phrases delivered in a strong Southwest England accent
can be traced back to Robert Newton’s 1950 portrayal of
salt is three sheets to the wind” means “Wow, that old sailor has had too much beer.” And if a pirate (or your boss) says, “Swab the deck, ye bilge rat, or it’s Davy Jones’ locker for ye!” start mopping the floor immediately.
Long John Silver in the movie “Treasure Island.” Historically, English-speaking pirates probably sounded more like
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