Take a look at this month's edition of The Wealth Zone!
THE WEALTH ZONE
DEC 2020
119 Old State Rd., Ellisville, MO 63021
CapitalAdvisoryGrp.com
THE GREATEST GIFT OF ALL: Peace of Mind!
What’s the best gift you’ve ever received? The holiday season is also known as the season of giving. Between Thanksgiving and Christmas, people find themselves in the giving spirit. They give to their favorite charities, to their kids and grandkids, and maybe even a little back to themselves. There’s nothing like giving. It feels great to hand someone a gift and to watch their face light up as they open it. Of course, there’s also nothing like getting a gift, either. You may still remember the presents you unwrapped on Christmas morning when you were a kid. There was always so much anticipation — especially if there was something you really wanted. Was it under the tree? You couldn’t wait to tear into it (and you probably couldn’t bear the thought of being disappointed). Of course, some of us were disappointed. It seemed as though there was that “one” thing in childhood we never got. It’s almost like Ralphie in “A Christmas Story.” We had our version of the Red Ryder carbine action 200-shot Range Model air rifle. But, unlike Ralphie, our parents didn’t surprise us with that “one” last gift. But then again, sometimes we did get that one last gift. And when we did, it was magical. It made our day — sometimes it made our year. These days, things are a little different. The holidays can still be a lot of fun, but when you’re the one paying the bills and getting that bank statement every month,
it does take some of the magic out of it. But there are a few ways you can give back to yourself to bring some of that magic into the fold — and take some of the stress away. You can give yourself the gift of peace of mind! What can you do? This year, a lot of people ended up sidelining their goals. Thanks to the pandemic, they decided some, if not most, of their goals simply weren’t feasible. These goals were everything from taking that special family vacation in the summer, purchasing that new car in fall, switching jobs (or even careers), starting a new business, and so on.
mean something to you, like taking a special vacation or replacing an aging car. Put those goals right back where they belong — in front of you. Another thing you can do is prepare for the upcoming tax season. After a wild year with several different government stimulus programs, the coming years will hold plenty of surprises for people who don’t prepare or didn’t read the fine print that came along with those stimulus programs. Going into the new year, you want to give yourself the biggest advantage you can get. Make sure your financial and tax documents are ready. The more organized you are, the better. If you are uncertain about what you need or you feel overwhelmed, don’t hesitate to reach out to us. When you’re dealing with taxes (or dealing with the IRS, for that matter), you never have to go it alone! This holiday season, take some time to reassess your goals, prepare for the upcoming tax season, and look to the new year with optimism. While we can’t say for certain what’s going to happen in the coming months, the least we can do is be prepared and give ourselves the gift of peace of mind. With that, we hope you have a wonderful holiday season! -John and Jeff Zufall
It can be disheartening and deflating when you are unable to complete the goals you’ve set for yourself, but as we come to the end of the year, now is the time to recalibrate. This isn’t about setting New Year’s resolutions but rather setting those major goals that genuinely
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Decisions,
WINTER ROAD TRIP ESSENTIALS YOU DIDN’T KNOW YOU NEEDED A Driver’s Guide to Safe Holiday Travels On Sept. 24, 2019, more than 2.5 million people passed through TSA checkpoints at airports across America. On the same date this year, those terminals saw just 826,316 travelers — a nearly 70% drop. Since the COVID-19 pandemic hit, Americans have been thinking twice about air travel, and this holiday, millions of would-be flyers will set out on road trips instead. Road tripping is a great way to avoid contact with a lot of people, but it can also be dangerous, especially in winter weather. Fortunately, you can take several steps to keep your family safe. Getting your car checked before you go, for example, can save you a lot of hassle on the road, as can investing in a set of snow tires. It’s also smart to take precautions such as letting a friend or family member know your route, predicted arrival time, and where you plan to stop for gas along the way. Apart from that, one of the best things you can do is pack an emergency kit. AAA sells premade kits through outlets like Amazon, and you can find a basic kit with things like jumper cables, ponchos, rope, batteries, pliers, zip ties, and a first-aid kit at pretty much any Walmart or sporting goods store. You could even save a life by adding a few more essentials to your kit, like a blanket, snacks, and an extra cellphone charger. At this point, you’re almost a safety black belt. But to take your kit to the next level for winter driving, there are three more little‑known items you should stash in your trunk: a shovel, a bag of sand or cat litter, and an extra bottle of windshield wiper fluid. If you get stuck in a snowbank, the shovel will help you dig your way out without risking frostbitten fingers. The sand or cat litter will boost your traction if you sprinkle it around your wheels in an icy spot, and the extra wiper fluid will make all the difference if you run out during a snowstorm.
Decisions
TACTICS FOR MAKING THE BEST BUSINESS CHOICES
As a business leader, you’re likely well- versed in making decisions, but in the midst of a global health crisis, a political minefield, and environmental disasters, planning for the upcoming year is different territory for even the most seasoned business professionals. So, how do you make the right decisions for your 2021 plans? Start with these three steps. No. 1: Look at the data.
Data has never steered you wrong before, so don’t stop using it now. However, you have to use the right data and contextualize it with today’s lenses. For example, when choosing a new marketing campaign or direction, continue looking at the cost, revenue, potential errors, and risk factors. Use those to make an informed decision about which step to take. For example, is the campaign empathetic to the needs of your clients, or will it come off as tone-deaf? ( Hint: Try split testing in 2020 before fully deploying a new campaign in 2021!) No. 2: Don’t go with the status quo. “This is how we’ve always done it” will kill your business. Nothing is the same as it was just one year ago. The entire world has transformed, and attempting to continue with what’s “normal” will only cause you to miss what could be . As you plan for 2021, consider the abnormal. Look at options you would have never considered doing and test their efficacy. If one fails, move on. But there’s a big chance that you may stumble into something that is totally unique and completely worth your time. No. 3: Embrace change. You’ve set your course. You have your team in place. You’re excited to begin. Now, get ready to change everything. Sounds exhausting, right? But it can happen. Rather than being resistant to what isn’t working, admit defeat and move on. If there’s one benefit of the COVID-19 pandemic, it’s that we were all given a crash course on how to adapt quickly. Take those lessons and apply them to your 2021 plan. Be prepared to admit when your original plan isn’t working because staying on an ineffective course can do more harm than good.
Once you’re prepared, crank up the Christmas carols and get driving!
Don’t avoid it. Planning for 2021 is necessary — even if you need to change course quickly.
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The year is quickly coming to an end. Are you on track to accomplish your goals and meet the commitments you made this year? If everything is on track, great! Now is the time to review what went well and why. What did you do to meet those goals? What resources did you have in place to make those accomplishments possible? Use the momentum going into the new year. However, if you’re like most people this year, you likely had to sideline many of your goals and commitments. If that’s the case, now is the time to review those goals you had to put on the backburner. Why did any given goal have to be put on the backburner? What obstacles got in the way of progress? How might you overcome those obstacles? As we go into the new year, it’s important to not let goals fall to the wayside or be forgotten — especially if those goals meant something to you. Setting goals is critical to growing personally and professionally and for achieving the success you have in mind for yourself, your family, your career, or anything else. Stay on Target NOW IS THE TIME TO REVIEW AND RECALIBRATE GOALS
Now is the time to recalibrate. Look at the goals you didn’t accomplish and ask yourself the following questions:
• Were the goals realistic? Sometimes we shoot for the stars when we need to shoot for the moon first. It’s okay to dial back goals to ensure you can reach them. • Were the goals clearly defined? Goals need to be spelled out with as much clarity and specificity as possible. Don’t give yourself wiggle room for interpretation. • Was there a system in place to track the goals? Tracking milestones important and motivating. Use a spreadsheet or journal to log progress. • Was there accountability? Did you tell anyone about your goals? Have someone you can confer with, such as a friend or colleague, someone you can discuss progress and ideas with. • Did you have the resources you needed? As you dive into your goals in the coming year, give yourself the tools or resources you need to get the job done. You never have to rely on your wits alone! When you answer these questions and focus on recalibrating your goals, you’ll be left with a stronger foundation for success going into the new year. It’s all about giving yourself a greater advantage going forward.
TAKE A BREAK
Ingredients • 1 tsp baking soda • 1 cup sour cream • 3 1/2 cups mixed dried fruit of your choice, chopped • 1 cup nuts of your choice, chopped • 2 cups all-purpose flour, divided • 1 stick butter • 1 cup sugar • 1 egg, room temperature • Zest of 1 orange • 1 tsp salt Not Your Grandma’s Fruitcake
Fruitcake gets a bad rap, but when made correctly, it’s delicious! Try this recipe to upend your preconceived dessert notions.
Directions
1. Preheat oven to 325 F. Line a 9x5-inch loaf pan with greased baking paper. Ensure the piece running the length of the pan stands 1 inch above each side to form “handles.” 2. In a small bowl, mix baking soda and sour cream. 3. In a second bowl, combine fruit, nuts, and 1/4 cup flour. 4. In a third bowl, beat butter and sugar until fluffy. Add egg, zest, and sour cream mixture. Then, add remaining flour and salt. Mix, then add fruit mixture. 5. Pour batter into lined pan. Fill up a separate loaf pan halfway with water. Bake both pans in oven for 1 1/2–2 hours or until a skewer leaves the cake clean. 6. Use “handles” to remove cake from pan and cool completely on a rack before serving.
Inspired by SimplyRecipes.com
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119 Old State Rd. Ellisville, MO 63021 CapitalAdvisoryGrp.com
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Give Yourself the Gift of Peace of Mind
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Winter Road Trip Essentials You
Didn’t Know You Needed
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Tactics for Making the Best Business Choices
Are You on Target With Your Goals — or Falling Short?
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Not Your Grandma’s Fruitcake
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Are You Ready to Herd Some Cats?
THE CAT HERDER Get Control of a Hairy Situation You may have felt like you were herding cats all year, trying to get things back on track. You may feel like you’re herding cats as you prepare for 2021. If you feel like your day (or week, or month, or year) has fallen into some level of chaos, here are a few cat-herding tips to keep in mind: • Ask for help. Never feel like you need to wrangle a bunch of cats (that is, people, problems, or projects) on your own. Reach out to others who may know how to help. For example, if you’re running into issues with your taxes, reach out to a tax professional. • Strategize. Don’t just run toward a cat head on. Give it some room and plan how you want to approach it. Make lists or discuss options. What tools or resources could you use to wrangle that cat? • Give yourself space. If the cat is overwhelming you, let it be for a while. Put some space between you and it and come back to it at a later time, maybe when you have a fresh perspective or the nature of the cat has changed.
Have you ever tried to herd cats? You may remember the commercial from 2000 that ran during Super Bowl XXIV when the St. Louis Rams faced off against the Tennessee Titans (with the Rams winning, of course). The commercial, for a company called EDS, a Hewlett Packard company, featured cowboys herding literal cats. It’s been ranked as one of the most memorable commercials from that era. Dec. 15 is National Cat Herders Day. As you may suspect, the day doesn’t actually have anything to do with herding cats. Rather, it’s about managing people, problems, or projects . And many of us have been there: You try to manage phone calls, emails, and questions all at once. It seems like you’re being inundated from all sides or maybe experiencing one problem after another. Either way, your day is defined by chaos. As a result, you take on the job of “cat herder” — the person who breaks through all the chaos.
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