Take a look at our April newsletter!
119 Old State Rd., Ellisville, MO 63021 THE WEALTH ZONE Unexpected Scenarios Can Occur Anytime Are Your Finances Ready? CapitalAdvisoryGrp.com April 2023
When you think of risks, what comes to mind? Perhaps you think about an adrenaline-pumping activity like skydiving or bungee jumping, but in reality, nothing in life is without risks, even if it feels like a small event, such as asking someone out on a date. No matter what you’re pursuing, you will have to take chances at some point in your life. Financial risks are something we will all face. I understand how scary and stressful it can be to discuss situations that could threaten your financial stability. After all, money is personal — you’ve worked hard to reach your financial goals, so experiencing risks that can intrude on your cash flow is the last thing you want to endure.
scenarios with you and discuss strategies you can use to reduce your chances of experiencing these hardships.
Income Risks These factors include anything that affects your ability to earn income. Some examples could be injuries, disabilities, getting laid off, or losing your job. The best strategy you can use is to have multiple streams of income through a side job, freelancing, and other short-term avenues. By doing this, if something unexpected occurs, you won’t have to worry as much because you still have a stream of income channeled into your account. However, it’s also best to plan financially, create saving accounts, or use insurance to store money in case you need it. Expenditure Risks Having expenses that are more than your existing income means you have some expenditure risks. These include emergencies or sudden expenses such as accidents, home or vehicle damage, or renovations. An emergency fund or savings account can be used as a cushion if sudden repairs, accidents, or incidents occur. Consider budgeting for these unexpected occurrences by putting money aside or factoring a certain percentage from your monthly paycheck. Asset or Investment Risks When you have assets or investments that cause several obstacles, you could experience a financial loss, theft, damage, depreciating values, or insufficient savings.
As I speak with clients about their concerns and goals, four financial risks stand out most. Today, I would like to share these
Have You Heard Us on the Radio Yet? Tune in to KTR 550 AM radio every Saturday from 3–4 p.m. as Jeff Zufall and Josh Gilbert discuss all things taxes and financial planning. From innovative
strategies to optimize your benefits to breaking down proposed and current legislative measures, Jeff and Josh guide you through today’s most pressing topics in the financial world. If you have financial or tax questions you would like answered during our radio show, please email your questions to Jeff@CapitalAdvisoryGrp.com.
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Saying goodbye to your child as they go off to college is not easy for some. However, as time passes, you will find new ways to fill your time and enjoy the extra space you have in your home. But as the spring semester ends and summer break begins, your nest may not be as empty for a few months as students return home! Are you ready for it? Here are three strategies to keep in mind. Remember that your child has changed. While it may have only been about nine months since you dropped your teen off at college, they will come home as a different person. Your teen may have matured since the last time you saw them. They may have different interests and characteristics when they return home. Be mindful that while you’ve undergone some changes, so have they. Inform them that they’re not a guest. College is sometimes a teen’s first step into adulthood. They lived on their own (with roommates), could come and go as they pleased, and ate whatever and whenever they wanted. Because of this newfound freedom, it may take them time to adjust to coming back home. They may need time to themselves. However, set boundaries with your teen when they return. Reminding them to respect other family members and the home is best. Share how things have changed since they left. Have you remodeled or renovated your home? Did you make any changes to the daily schedule? Was anything of theirs thrown out or stored? Are there any changes you’ve made to yourself over the past few months? It’s best to share these changes with your college student to ensure there are no surprises. Additionally, talking about how you’ve adapted to the “new normal” can encourage THE NEST ISN’T SO EMPTY ANYMORE! Is Your Child Coming Home for Summer Break?
Dogs are known for their keen sense of smell — on TV, you will often see dogs that can find missing people or even search for drugs and bombs. When dogs use their extraordinary senses for a particular job, they’re often trained for that one purpose, but even without training, dogs do seem to know something is wrong. ONE SNIFF CAN SAVE A LIFE NEVER DOUBT A CANINE’S SENSES
Roger, the Jack Russell terrier-poodle mix, is a great example.
Our story takes place in Ringwood, England, in December 2022. Winter was in full swing, with temperatures below freezing. No one wanted to find themselves outside in the cold for too long because it could be dangerous. Unfortunately, that’s what happened to 94-year-old Morris Cohen, and he almost died. Cohen just got home and parked his car in the garage when he found himself in a spot of trouble. As he tried to exit his vehicle, his walking stick suddenly snapped in half. Unable to keep his balance, Cohen fell and became wedged under his car’s brake and clutch pedals. The man called for help several times, but unfortunately, no one could hear his pleas, and he remained stuck overnight. The next day, Roger’s owners let him roam around outside. Roger began sniffing around Cohen’s home (some believe Roger had heard the man’s calls for help), and once Roger found the elderly man, he didn’t leave his side for the rest of the day. After a couple of hours, Frances Wall, Roger’s owner, began calling for Roger. When he didn’t immediately come home when she called, she started looking for him, and that’s when she found Roger and Cohen. She immediately called emergency services, and three firefighters came by the home to free Cohen. They quickly took him to the hospital because they worried about hypothermia. Over a week later, medical staff released Cohen from the hospital, and now he gives Roger treats whenever he sees him. “I owe my life to that dog. They [health care professionals] said that if I would’ve been there for a few more hours, I would have been a goner,” Cohen told Bournemouth Daily Echo. Fortunately for Cohen, Roger’s amazing canine senses saved the day. It’s always great to have a furry friend around — you never know when their incredible skills will come in handy!
your child to open up about their experience at school and how they’ve changed. The better you understand your teen and vice versa, the better your relationship will be.
Welcoming your child back home is exciting and challenging. But by encouraging open communication and patience and embracing the time you have with each other, you and your college student will enjoy your time with one another.
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CapitalAdvisoryGrp.com
Figure Out What You Can Toss! GOT TOO MANY FINANCIAL DOCUMENTS?
Do you have a drawer or cabinet in your home that stores all of your essential documents? While throwing them in a drawer and closing the door is convenient, it’s challenging to sort through them when needed. But how do you determine which documents you must keep and which you can toss out? Out of all your financial reports, it’s vital that you hold onto your previous tax records the longest. The IRS can audit previous tax returns within the past three years, but they can go as far back as six or seven years . It’s also beneficial to keep your tax information if you or your children apply for financial aid. For business owners, it’s imperative that you hold onto all of your tax documents for as long as possible. You never know when you will need to refer back to previous years.
You may need additional documents when filing your taxes, but after a year, you can toss out your stubs, credit card statements, investment statements, or receipts from any purchases. If you don’t have any unresolved medical bills, you can also get rid of these receipts and invoices. However, if you’re currently dealing with an unsettled claim, it’s best to hold onto them. With the advent of online purchasing and document management, many receipts for monthly charges and/or fees are stored in companies’ user portals. Therefore, you can toss out any paper receipts and statements after you make the payment. How do you properly throw away unwanted financial documents? Even though these documents are useless to you, they still contain private
information such as your name, home address, account and routing numbers, and Social Security digits. The best way to remove unwanted documents is by shredding them before throwing them in the trash. If you don’t have a shredder at home, we can help! Bring your paperwork to our 11th Annual Shred Day Event at our office on April 29 from 10 a.m.–12:30 p.m. Light refreshments will be provided.
Since we are officially done with tax season, now is a great time to go through
your finance drawer and organize! We would love to assist you with any questions about which documents to keep or toss, so give us a call today.
We Would Love to Hear From YOU!
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Before adding assets or investing, educating yourself on how the stock market works or how you can invest in your additional property to add value and revenue is best. You also want to be aware of what could happen to your investments if the stock market goes down or if something occurs within your assets that reduce their value. Once you better understand the different moving parts at hand and are mindful of your financial goals, you can make a decision that works best for you. Credit or Debit Risks Far and away the most common financial situation people find themselves in, credit or debit risks include any difficulty regarding paying off your credit cards or loans, dealing with high-interest rates, or experiencing financial penalties. In previous newsletters, I’ve discussed some strategies you can use to reduce your debt, how to make timely payments, and the importance of creating a budget. Another method you can use is researching different banks and credit card companies to see how they operate, their interest rates, and how they can benefit you financially. Everyone’s situations and goals are different, so how you approach these risks will vary depending on your needs and values. But I can help! Please call me today to schedule a consultation so we can brainstorm the best strategies to get to where you want to be.
If you have questions you would like answered in our upcoming newsletter, please submit all inquiries to Ellen@CapitalAdvisoryGrp.com . We would also love to highlight your experience with Capital Advisory Group. If you have success stories or instances you would like to share, please send those submissions to the email above.
Thank you for your continued support!
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119 Old State Rd. Ellisville, MO 63021 CapitalAdvisoryGrp.com
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ISSUE INSIDE THIS
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4 Financial Risks to Know About
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Your Teen Is Becoming an Adult
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Never Doubt a Canine’s Senses
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Is Your Finance Drawer Piling Up?
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Impact Your Community Today
Give Back to Your Community! 3 Volunteer Opportunities in St. Louis
The Humane Society of Missouri HSMO.org/Volunteer
Volunteering is a great way to give back to your community, meet new people, and create memories you will remember for years. In honor of National Volunteer Day on April 20, here are a few of our favorite local volunteer opportunities.
Since 1870, the Humane Society of Missouri has offered a home for abused, neglected, and abandoned animals. But they need your help! The organization wouldn’t be able to provide veterinary care or homes to pets if it weren’t for our community. You can volunteer by running the gift shop, teaching children how to properly care for animals, walking dogs, cleaning kennels and litter boxes, and sorting donations. Please call the Humane Society volunteer department at (314) 951-1577 for more information. If you would like to see what other volunteer opportunities are available, please visit STLVolunteer.org.
Gateway180 Homeless Services Gateway180.org/Get-Involved
donate funds, partner with the organization, and sign up for volunteer opportunities.
St. Louis Public Library SLPL.org/Become-A-Volunteer
Our amazing team member, Margrit, shared this resource to highlight in this article! Her sister, Leah, began a “sandwich brigade” in 2020. She gathered volunteers to make peanut butter and jelly sandwiches for the homeless. This act of kindness quickly turned into something bigger. Leah, her friends, her family, and even strangers would come together to make food and donate clothing, blankets, and furniture every week.
Our public libraries have millions of visitors each year at their 17 locations, and volunteers play a critical role in strengthening the library community. You can help by working with children, leading adult literacy programs, and collecting or organizing books. Not only will you be able to impact those around you, but you may also find your next favorite book while you’re there. If you would like to volunteer, please email Volunteers@SLPL.org.
If you would like to get involved, Gateway180 has a page on its website where you can
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Securities offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC, (Kestra AS) an affiliate of Kestra IS. Capital Advisory Group, Inc. is not affiliated with Kestra IS or Kestra AS. Neither Kestra IS or Kestra AS provide legal or tax advice and are not certified public accounting firms. KestraFinancial.com/disclosures
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