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FEBRUARY 2023
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PATRIOT WEALTH
Going to the Mat Wrestling’s Lessons in Perseverance
Mike Tyson famously said, “Everyone has a plan until they get punched in the mouth.” Patriot Wealth is in the business of planning, but we also know the most brutal hits in life can throw even the most careful preparation off course. We can’t always prevent these big blows, but we can control how we respond to them. It’s a concept National Get Up Day on Feb. 1 celebrates — and one I learned well as a wrestler. I came to wrestling by way of football. I was about 9 years old and unhappy with the dynamic of team sports. After I complained to my dad that no one on my team was blocking for me, he presented me with a solution. “If you think it’s everyone else’s fault,” he said, “why don’t you try wrestling?” The idea was that wrestling is an individual sport, so I had no one else to blame for my success or failure. As a kid who loved to roughhouse, I thought, “Heck, this is great!” Although wrestling is an individual sport, you cannot succeed alone. Every wrestler has coaches, parents, and teammates who inspire, guide, and push them to be their best. My parents were big supporters of my wrestling career, and I thank them for all the time, travel
commitments, and love they showed me while I was out on the mat. I think Mom found it difficult to attend many matches due to the sport’s violence and probably wishes there were a few moments she had missed, haha! While spectators see two individuals on the mat, there are many hours of sweat and hard work for a few minutes of action and many times the team behind you is the slight difference between victory and defeat in a brutal sport like wrestling. While I became a pretty successful wrestler during my roughly six years of wrestling, it was anything but easy, and I wouldn’t want it any other way. As a wrestler, you enter every match with the expectation you will get knocked down. It’s simply a part of the sport. As a young boy, learning this lesson through the sport was invaluable because it teaches you to control what you can and not focus on anything else. Just like in life, the only thing you can control when you get “punched in the mouth” is how you respond. Wrestling was a great avenue to learn this lesson for me. No matter how well you prepare or what we do, we sometimes wish things had gone differently. I see it everyday in this business of financial planning. When
we build out a retirement plan, it is only a snapshot in time. Every plan will and does change. The most important part of any plan is accounting for the plan not going to plan - simply put, having a margin of safety. Life happens, things change, and we enter every retirement plan with this expectation. None of us can prepare for every scenario. But the ability to adapt marks a great wrestler and someone who can move successfully through life. New circumstances require new solutions, which is why we continuously update retirement plans. In wrestling as well as finance, we sometimes lose a “period,” but it does not mean we have lost the match. Wrestling mentally prepared me to adjust to the sometimes difficult realities that were in front of me. You learn very quickly to get back up and try again. I took a lot of literal and metaphorical hits during my wrestling career, but I don’t remember them nearly as well as the fortitude they taught. Plans don’t always work out — but you can always dust yourself off and keep moving forward.
–Austin Kobilka
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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Improve Your Credit Score By the End of the Year
WITH THESE 3 TIPS
Maintaining a strong credit score is incredibly important, especially with rising inflation. A high credit score will help you qualify for lower interest rates and obtain loans for high-cost items, such as homes or cars. We’re not taught much about credit in school, so many people make the mistake of opening credit cards or taking out loans they can’t pay off. This causes their credit score to go down. It’s not easy to improve your credit score once it’s taken a big hit, but you can do a few things to help it improve gradually.
The ideal password is a long string of random characters. But who can remember all that? People choose easily-hackable passwords like “Fido52” because they’re hard to forget. Fortunately, there are now more options than ever. Password managers, like LastPass, 1Password, and Keeper, will help you generate secure, unique passwords and store them for you. To use a password manager, you’ll need one highly secure master password you will remember. You can then save every password you use and access them as needed — no superhuman memory required. Some web browsers will also offer to remember your passwords for you. It can be handy, but it’s also risky if other people gain access to your computer. Consider this option only if no one else uses the device and you lock it with a secure master password. Some people also prefer an old- fashioned paper password book. You can use these if they make you more comfortable, but you should lock them up and always keep them at home. If you’ve been using repeated and easy-to-guess passwords, there’s no reason to be embarrassed — millions of Americans do the same. But it’s time to make a change. Start updating your passwords today, even if you only do it one or two accounts at a time. It’s one of the best ways to ensure security over your identity and financial future. KEEP OLD ACCOUNTS OPEN. If you’re trying to improve your credit rating, you’re likely making every effort to pay off your bills and balances. You may be tempted to close out each account as you pay it off, but doing so will not improve your credit score; it’s more likely to hurt it. Closing an account lowers your maximum credit limit, which can lower your score. If the account has a record of on-time payments and you paid it off, leave it open. ONLY APPLY FOR NEW ACCOUNTS WHEN NECESSARY. When you go shopping at your favorite store, they’ll likely ask if you want to open a store credit account to save additional money. Don’t do it. Each new account you apply for will show up on your credit report and lower your score by a few points. Try to get pre-approved if you’re trying to take out a large loan for a vehicle or home purchase. That way, if you are pre-approved, you don’t need to apply for the loan, which will save your credit score.
Here are a few tips to improve your credit score by the end of the year.
In 2022, a shocking 23 million accounts across the internet used the password “123456.” Though we’ve been using the internet for decades now, many people don’t understand best practices for their internet security. Even Gen-Z, arguably the most tech-savvy generation of all, is prone to bad password habits. A Harris Poll found that 78% use the same password across multiple accounts! Feb. 1 is Change Your Password Day, reminding us that secure passwords are essential to protecting our identities and information online. Countless internet users think their passwords are safe, only to learn the hard way that they’re not. And when bad actors access your information, it can have long-term consequences for your financial well-being. SAFE AND SOUND WHY YOU NEED SECURE PASSWORDS PAY YOUR BILLS ON TIME. Payment history is the most influential factor in your credit score. If you aren’t paying your bills on time, you won’t see any improvement in your credit score. Lenders don’t want to loan to someone who has a history of missing payments; it’s an unnecessary risk on their part. Make your payments on time, and if you can’t afford the total amount, pay the minimum amount due. Interest will accrue, but your credit score will be untarnished.
For your safety, you should always follow the below password habits:
• •
Using a unique password for every account Making passwords 12–15 characters long
• Using letters (uppercase and lowercase), numbers, and special characters in each password • Avoiding full words, names, or dates
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IT’S NATIONAL RIVER MONTH! CELEBRATING THE NEUSE’S PAST AND PRESENT
What’s a 2-million-year-old site you can visit without leaving Raleigh? The majestic Neuse River! The Neuse is one of the oldest rivers in North America and hosted its first human settlers more than 14,000 years ago. Today, it remains a source of beauty and recreation for countless North Carolinians. In honor of National River Month, we want to share the history behind this incredible natural resource and some of our favorite spots to visit.
The Neuse River was named after the Neusiok, Indigenous Americans who lived in the area during the 1500s. It remains one of the three oldest locations in the U.S. that still has the name given to it by English colonists. North Carolina established its first capital city, New Bern, at the river’s mouth in 1710. Today, the Neuse connects the state’s original capital to its current one in Raleigh. The area surrounding the Neuse Basin has 48,000 acres of state parks and 58,000 acres of national forest. That’s a lot of nature for us to enjoy! Here are a few of the best places to visit along the river’s 250-mile-long path. HORSESHOE NATURE FARM Along the Neuse River Trail in Raleigh, Horseshoe Nature Farm is a preserved piece of land surrounded on three sides by the river. The area contains river swamps and wetlands, and while most of the site remains wild and undeveloped, visitors can explore multiple short trails. A few times a month, the onsite farmhouse opens for visitors to explore, but there’s plenty of the great outdoors to see every day! MILBURNIE DAM While most of Milburnie Dam was torn down in 2017, remnants still mark a particularly beautiful portion of the river. The area is home to river rapids now that the water can flow freely, and it’s a prime spot for picnicking and wading, surrounded by rocky beaches and lush trees. However, visitors should avoid entering the river above their calves, as conditions may be dangerous. CLIFFS OF THE NEUSE STATE PARK If you’re up for a day trip, you can’t do much better than this gem. Slightly more than an hour outside Raleigh. Visitors can stand 90 feet above the river and take in breathtaking views across the riverbank. There are also opportunities for hiking and kayaking at the park. If you’re lucky, you might catch a glimpse of native otters and bald eagles during your visit!
TAKE A BREAK
INGREDIENTS • 1 ripe banana, frozen • 1 cup cubed butternut squash, cooked and frozen • 1/4 cup plain or vanilla Greek yogurt • 1 cup unsweetened almond milk or coconut milk Chai-Spice Butternut Squash Smoothie
• 1 tbsp almond, cashew, or pecan butter (do not use peanut butter, the flavor is overpowering) • 1/2 tsp vanilla extract • 1/2 tsp cinnamon • 1/8 tsp cardamom • 1/8 tsp ground ginger • 1/8 tsp allspice
1. In a large, high-powered blender, add all ingredients and blend on high for 1–2 minutes or until all ingredients are well combined. Add more milk if necessary to thin and blend again. 2. Serve and enjoy! Inspired by AmbitiousKitchen.com DIRECTIONS
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INSIDE THIS ISSUE
The Life Lessons in Wrestling PAGE 1
3 Tips to Improve Your Credit Score PAGE 2
Are Your Passwords Secure? PAGE 2
Chai-Spice Butternut Squash Smoothie PAGE 3
Celebrating the Neuse for National River Month PAGE 3
Brushing Up on Cruise Etiquette PAGE 4
All Aboard! Know Your Cruise Etiquette Before Setting Sail
After a slump in 2020 and 2021, cruises are back in a big way. If you’re planning your first onboard adventure — or it’s been a while since you last set sail — now is the time to brush up on your cruise ship etiquette. Every passenger should read their cruise line’s policies to ensure they know all the specifics before climbing aboard. In the meantime, we’ve listed some of the most essential do’s and don’ts for the savvy traveler. KNOW WHAT TO WEAR. Some cruise lines aim for a fancy atmosphere, while others prefer a casual approach. Ideally, review the dress policy before you book your trip.
Bring at least one formal outfit in your luggage for dinner, which tends to have an upscale vibe. The rest of your cruise wear should be casual but tasteful, leaving you looking put together. Most importantly, don’t overpack — the stateroom is smaller than you think. DON’T BE A CHAIR HOG. Everyone wants a prime spot on the sundeck, but you’ve got to rise early in the morning to get one. That’s fine if you can manage it, but “saving” a seat by putting a towel on it and then wandering away for breakfast or a mani-pedi is the best way to get on your fellow travelers’ bad side. Your cruise may also have a policy against
it. Going to the bathroom is one thing; you’re only human. Otherwise, if you want the seat, stay in it. BE ON TIME. Treat your cruise ship like an airplane — if you’re not on time, it’s probably leaving without you. And if you are lucky enough to have the ocean liner wait, your fellow passengers won’t look at you kindly. Set your watch to ship time (not local time) and prepare to be back an hour before the deadline. That way, if you happen to be late, you’ll still be on time. You may miss out on an extra drink or souvenir shop, but nothing will ruin your cruise faster than being left behind at the dock.
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