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JUNE 2024
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PATRIOT WEALTH
FATHERHOOD NO GREATER JOY THAN BEING A DAD Sunday, June 16 is Father’s Day, and I am filled with profound gratitude for God’s blessings. Of all the things I have done in my life — professional achievements or personal milestones — nothing compares to the joy and fulfillment of being a father. It’s the best job on the planet! In a few months I’ll be dad to three boys! By the time he is born, Noah and Isaac will be 5 and 3 years old, respectively. The cliche “time flies” resonates for me more than ever before. So, in recognition of Father’s Day, I want to take a moment to express my deepest appreciation for the greatest gifts Rachel has given me — my children.
Every day with you is a new adventure — and yes, a little crazy! Your laughter fills our home with joy, and your curiosity keeps me on my toes, that’s for sure! Thank you for your boundless energy that lifts me up, even on the most challenging days. Your resilience and adaptability amaze me. Your imaginations turn the simplest moments into magical experiences, and your questions remind me to see the world through fresh eyes. I’m grateful for the small moments we share, like bedtime stories, a Saturday morning out for boys’ breakfast, and impromptu golf cart rides for ice cream. These experiences and memories you continue to give me are precious and infinitely valuable moments I hold dear to my heart. Every laugh, every hug, every milestone reached is a testament to the incredible bond we share. Being your Dad is a gratifying and transformative experience; watching you grow and thrive is the greatest gift that I could ever receive. As we move forward, I hold onto these moments with a grateful heart. You are some of my greatest buds, my most cherished companions, and my reason to strive for a brighter tomorrow. Thank you for filling my life with so much love and happiness. You are my everything, and I am endlessly thankful for both of you. – Wes White
To my children …
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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It’s Father’s Day! Children Create Unique Dad’s Day Gifts
The second survey also revealed that over 75% of shoppers struggle to think of good Father’s Day ideas. Most settle on outings, clothing, gift cards, personal care items, or electronics. Here are three low-budget ideas you can do with your kids that are sure to charm any dad, offered by What’s Up Moms, a top parenting site on YouTube co-founded by vlogger Elle Walker. INTERVIEW CARDS If your kids are preschoolers, have them answer questions about their father and record their answers on notecards. Things like, “How old do you think Daddy is? 100? What is one thing Daddy says? What does Daddy do for work? Why do you love Daddy?” The simplicity and innocence of your children’s
answers will warm Dad’s heart more than any store-bought gift ever could.
SHOPPING SPREE Give each child $10 to pick out
something for Dad, all by themselves, then take them to the nearest big-box store. Walker’s youngsters came up with a mirror, a pair of swim trunks, and crib sheets, and they clearly loved being empowered to make choices. PHOTOS FROM A KID’S PERSPECTIVE You may be surprised at some of the angles children choose and the tender moments they capture, “even if they’re not wow-worthy,” Walker says. Her daughter caught a captivating shot of her husband, Ross, napping with their preschool son resting on his shoulder.
Recently, people have been spending big on Father’s Day, and many wait until the very last minute. Last year, Americans spent a record $22.9 billion on Father’s Day, up nearly 10% from the previous year, according to an industry survey. And more than half of consumers don’t start shopping until the week before Father’s Day, while 3.5% wait until the very last day before the holiday, according to another survey.
The 60/40 Model
STRATEGIES FOR SUCCESS IN TODAY’S FINANCIAL MARKET
Investment strategies are the backbone of financial planning, serving as the roadmap to achieving long-term financial goals. The 60/40 model stands out as a balanced approach to maximizing savings among the many strategies available. The 60/40 model is a popular investment strategy that suggests balancing a portfolio with 60% in growth-oriented assets like stocks and 40% in fixed-income holdings like bonds. Recently, Patriot Wealth has expressed renewed interest in this outlook compared to a year ago. We also acknowledge the significant risks to this approach, particularly with the potential for rising interest rates. This is because bonds constitute the portfolio’s 40% fixed-income portion and can become volatile when interest rates increase.
Working with an independent advisor can be valuable for many individuals. An independent advisor can access financial tools and adapt the portfolio strategy in response to changing market
conditions. This tailored approach is crucial because no two retirements are identical; therefore, no two retirement plans should be either. Investment strategies are crucial in shaping financial futures and achieving long-term goals. While the 60/40 method has been a popular and effective approach for many investors,
To mitigate these risks, we suggest several alternative strategies:
it is essential to recognize the potential risks and challenges it may face. Patriot Wealth offers a unique advantage in retirement planning. We guide our clients through the critical steps to create a personalized retirement plan that aligns with their goals. Our approach, the Patriot Advantage, emphasizes emotion-free investing, transparency, and adherence to the highest standards of practice. Individuals can plan more intelligently and live better during retirement by partnering with us; call Patriot Wealth today!
• Structured income notes can provide income without the associated interest treatment risk. • Transferring risk to an insurance company through annuities. • Using options can generate income without the volatility tied to interest rate fluctuations. • As interest rates rise, traditional bonds become more appealing, providing better returns.
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Beating Sequence Risk in Retirement
Retirement can be a joyful milestone for many, but the prospect of entering retirement during a bear market can create anxiety for some. To address this, you can allocate a portion of retirement savings to clear essential expenses through investment products that offer guaranteed income, such as annuities. The remaining funds can then be allocated to riskier investments, such as stocks, to cover non-essential expenses like vacations or hobbies. Sequence risk, or the concern of experiencing negative returns early in retirement, is a significant consideration for retirees. We suggest a proactive approach to mitigate this risk, ensuring that sources other than market-based investments cover precise income needs. Additionally, we recommend exploring annuities to transfer some risk to an insurance company. Collaboration with a professional is also emphasized to navigate these potential risks. A helpful framework for managing restaurant savings is to visualize them as three distinct pots: near-term, medium-term, and long-term. NEAR TERM Money intended for immediate expenses. Near-term savings should be invested conservatively in a bank-money market account. MEDIUM TERM Money needed in five to 10 years. Medium-term savings can tolerate slightly more risk for potentially higher returns. LONG TERM Long-term savings are not anticipated for at least a decade, but they can benefit from tax-advantaged accounts like Roth IRAs. Aligning time horizons with appropriate account types and investments is crucial for maximizing this approach. For example, municipal bonds in a taxable investment account may be suitable for the medium-term pot, while a Roth IRA could be ideal for long-term growth due to its tax-free benefits. By strategically allocating retirement sayings and seeking professional guidance, retirees can better handle market uncertainties and enjoy a secure financial future. We understand that each retirement journey is unique and requires tailored situations. We strive to guide our clients through crafting a customized retirement plan aligned with individual goals.
TAKE A BREAK
BAKED SWEET POTATO FRIES
INGREDIENTS
• 2 large sweet potatoes, cut into wedges • 2 tbsp olive oil • 1 tsp smoked paprika
• 1/2 tsp garlic powder • 1/4 tsp cayenne pepper • Salt and pepper, to taste
DIRECTIONS
1. Preheat oven to 425 F and line a baking sheet with parchment paper. 2. Place sweet potato wedges in a large bowl and add olive oil, paprika, garlic powder, cayenne, salt, and pepper. Toss to combine. 3. Arrange the sweet potato wedges on the prepared baking sheet in a single layer. 4. Bake for 20–25 minutes, flipping halfway through, until golden and crispy.
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INSIDE THIS ISSUE
A Letter to My Boys PAGE 1
3 Easy Father’s Day Ideas PAGE 2
The Evolution of Investment Strategies PAGE 2
Baked Sweet Potato Fries PAGE 3
Strategies for Long-Term Financial Security PAGE 3
Perfect Spots for a Laid-Back Holiday PAGE 4
Off the Radar
d HIDDEN GEM VACATION DESTINATIONS
CRATER OF DIAMONDS STATE PARK If you have ever felt envious of the prospectors who made their riches during the California Gold Rush, then pay a visit to Crater of Diamonds State Park in Arkansas, where you can discover your own hidden gems! You can discover rare rocks and minerals in a massive field birthed by volcanic activity, including diamonds, amethysts, garnets, and quartz. The best part? Anything you find, you can keep! Seekers have found more than 35,000 diamonds at the park since it opened in 1972, and with some luck, you could add a few more to that tally!
Are you tired of visiting hyped-up vacation destinations or getting lost in a big city or crowded national park? If so, consider a holiday at a less congested, more laid-back locale. These hidden gems offer beautiful views and exciting excursions — all without the headaches that come with vacationing to big-name destinations!
PINNACLES NATIONAL PARK Make an excursion to Pinnacles in California to enjoy the splendor of nature without having to share space with millions of tourists. With over 30 miles of hiking trails crisscrossing rocky hills and river-strewn caverns, you’ll find plenty of opportunities for memorable adventure. Despite its wondrous views, Pinnacles was named the 15th least- visited national park in 2023, with just over 340,000 annual visitors.
CRATER LAKE NATIONAL PARK Make your way to Oregon and dive into the deepest lake in the country! Crater Lake National Park’s namesake was formed when a volcanic eruption triggered a mountain to come apart in spectacular fashion. You can stay at plenty of campsites and find excellent fishing in the lake’s pristine and seemingly bottomless water. If you are a fan of hiking, fishing, or breathtaking views, then Crater Lake is for you.
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