Patriot Wealth - August 2018

Patriot Wealth - August 2018

AUGUST 2018

PATRIOTWEALTHNC.COM

PHONE | 919.322.4113

PATRIOT WEALTH

WELCOME, AUSTIN! PATRIOT WEALTH’S NEW TEAMMATE

character is his potential — it’s something we do our best to foster on a daily basis. Austin explains this process better than we could: “I like the challenge of learning. To be an asset, I first need to get my feet wet. It’s all part of the process.” But it’s not just about learning for the betterment of his career. “Learning everything is the best way to help our clients.” Austin came to us after testing the waters elsewhere, searching for his true calling. “I experienced Wall Street and what a career in that environment might provide me. I explored a variety of routes. What I realized is that these paths wouldn’t facilitate my passion.” Ultimately, it’s your drive that gets you through tough times. For Austin, his passion and our mission aligned perfectly. “[Wall Street] came down to products more than service. What drew me to Patriot Wealth is that it’s a firm that works under the fiduciary standard.” It’s rare to find such a robust set of moral beliefs in anyone, let alone in a recent graduate. Everyone has a favorite part of what they do. For Austin, it’s service. “I want to help people help themselves. There are so many financial pitfalls Americans fall into. I want to help them navigate these tricky waters and find financial peace.” We’re fortunate to have such a great new member and look forward to the many lives he will change.

Our team at Patriot Wealth prides itself on having the utmost ethical and moral responsibility when it comes to running our business. It’s a core value of ours to represent your hard-earned money and reputation with integrity. We view having strong beliefs as being a significant advantage, but holding true to them doesn’t come without its challenges. Hiring new team members who fit our standards can be difficult. Luckily for us, we found Austin, and we couldn’t be more excited. He embodies everything we look for in a financial planner. The only thing that may outweigh his

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.

PATRIOT WEALTH | 919.322.4113 | P1

HOW TO HELP BOOST YOUR RETIREMENT FUNDS WHEN YOUR FUNDS ARE LOWER THAN THEY SHOULD BE

Having money saved is crucial for adults aged 50 or older who plan to retire in the near future. Some people are prepared for retirement, having saved a sufficient amount throughout their lives. However, there are people who, despite having tried to save, come up short in their retirement funds. This can send them into a panic. Women account for the largest percentage of people who don’t have enough money in their retirement savings by the time they reach the age of 50. A survey produced by the nonprofit Transamerica Center for Retirement Studies shows that many women who reach retirement age will not have adequate funds to support themselves. Despite having a higher savings rate, the average amount women have saved at the age of 50 is about $35,000, compared to $120,000 for men. What’s the reason behind this?

are more likely to work part time or stop going to work to take care of family members in need. By working less, women tend to earn less money, which prevents them from putting away sufficient funds for their retirement. This also affects whether or not they are covered by their employer’s retirement benefits, since most employees are required to be full-time in order to receive any benefits. If you’re nearing retirement age, don’t fret — you still have options available to you. If you’re working, look into your company’s retirement plan, especially if they offer a 401(k). According to the IRS, those who qualify (i.e., someone who joins the plan and is 50 years or older) can contribute up to $24,500 a year. To learn more about what options are available, it’s crucial you speak to a planning specialist. By working with someone who understands retirement, you’ll create a solid plan and ensure that you successfully enter and enjoy your retirement.

According to the survey, women often have a large gap in their financial savings at some point in their lives. They

WHY SMALL BUSINESSES ARE CYBERCRIMINALS’ NO. 1 TARGET AND WHAT YOU CAN DO TO PROTECT YOURSELF

Today’s small businesses are woefully unprepared for digital threats. Cybercrime is at an all-time high in 2018, and yet a frightening number of small-business owners assume that their organization is too small to ever warrant the attention of hackers. From the perspective of cybercriminals, most small and mid- sized businesses (SMBs) represent the low-hanging fruit of the digital world: a modest pile of cash guarded by outdated or easily circumvented barriers. That’s why 71 percent of cyberattacks are directed at SMBs, according to Verizon’s annual >Page 1 Page 2 Page 3 Page 4

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