Patriot Wealth - December 2021

Patriot Wealth - December 2021

DECEMBER 2021

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PATRIOT WEALTH

CREATING PLANS OUR NATION’S FOUNDERS WOULD BE PROUD OF Money Buys Freedom

I’ve always been inspired and fascinated by the founding of our country. If given the chance, I would go back in time and be present at the drafting of the Declaration of Independence. (Upon hearing this, It should come as no surprise that one of my majors in college was history!) The founders of our nation were willing to sacrifice their wealth and lives for freedom, knowing that they might never experience the country they were trying to build, but that it would be a nation built for their future generations. In many ways, the work we do at Patriot Wealth and the perspectives many of our clients have draw parallels to the founding of our nation. We build freedom every day through retirement plans, wealth management, and tax planning. We help our clients find the freedom to not be tied to a job or various expectations as they age. They can live how they want — just as the founding fathers expected we would. The founding of Patriot Wealth is actually rooted in the founding of our nation. When Wes and I began this firm, we wanted to create a boutique wealth management company that was

different from large corporations. Much like our founders wanted to establish a nation that valued individual freedom over the anarchy of royalty, our goal was to establish a wealth planning and management company that valued each individual we served — not a company’s bottom line. It’s why we chose Patriot for the name of the company. Sure, it isn’t always easy. Planning for retirement can have many left turns and unexpected moments. In the drafting room for the Declaration of Independence, those present were toeing the line between equal representation and understanding that some people in the room still felt loyal to the British. It was a tense, challenging situation. And while retirement planning should never feel like life or death, it can have its own unique challenges. Our goal is to alleviate the pressure of those moments. We aim to get back on the path you set for your retirement, finding a way to account for the obstacles that come as we plan. We built this company from the ground up and with the intentionality of guiding people through their individual needs and concerns.

Many of you know that I teach a course called The New Reality in Retirement, where I highlight this very idea. We teach clients how the tools and systems we use allow them to track how they can obtain freedom they want in retirement, while offering projections and predictions for when they can stop working and when they will finally reach their goals. You could call it a personal declaration of independence. Our country was founded on the idea that everyone can build the life they want, and at Patriot Wealth, we’re proud to support that. Our goal is to help our clients become financially secure for their own future and for the next generations, too. We help clients build legacies built on freedom, and while we may not be building entire nations, we’re honored to create plans that work for the people we serve.

–Rick White

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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sleep, which occurs about 90 minutes after your head hits the pillow, your body is completely relaxed, and you begin to dream. THE TYPE OF SLEEP YOU GET MATTERS! Throughout the night, you will progress through these stages of sleep multiple times, but usually not in a perfect sequence. You will likely be in each stage of sleep about 4–5 times per night, and one cycle typically lasts about 90–110 minutes. Too much or too little REM or non-REM sleep can affect the quality of your sleep and how refreshed you feel. Quality sleep is important to make sure you are recharging your body, strengthening your mind and immune system, and prioritizing your health. If you never achieve deep sleep throughout the night, sleep deprivation sets in, and you won’t get the proper rest you need to recover. By setting a sleep schedule, you can make sure you are hitting the hay each night at a reasonable hour and allowing yourself to properly cycle through the different stages of sleep. Be sure to clear your mind before tucking yourself into bed and make sure your bed is comfortable to promote the best possible sleep — your body counts on it! How to Wake Up Refreshed

Are you getting enough shut-eye but still feeling groggy when you wake up? The type of sleep you get matters, and a sleep schedule can help ensure you’re cycling through all the stages of sleep your body needs. Sleep is broken up into four different stages. During the first stage, which only lasts about 5–10 minutes, your body is softly drifting off, and as your brain slows down, your breathing and heartbeat slow as well. When you transition to the second stage, you become less aware of your surroundings, your eye movements cease, and your body temperature drops. Moving into the third stage, your body will drift into a deep sleep, where you will not be awakened by small noises and your muscles are completely relaxed. In the fourth stage, your body is in a deep, restful state. In stages three and four, you’re getting REM sleep, which is when your body is in its deepest sleep, and your breathing, heart rate, and temperature all reach the lowest level. In these stages, your body is able to fight sickness, begin repairing itself, and commit information to memory. During REM

Stay Festive at These Local Events The holidays are here, and there are many festive activities to keep you in the spirit all season long. Be sure to add these three local ones to your calendar!

WRAL NIGHTS OF LIGHTS When: Through Dec. 24 Where: Dorothea Dix Park Admission: Cost is per vehicle and varies by time and date. Website: WRAL.com Enjoy a gorgeous light display without ever leaving the comfort and heat of your car! WRAL is once again hosting its Nights of Lights Drive-Thru Light Show at Dorothea Dix Park. This year, the show features more lights, more art, and extended days! There’s no better way to enjoy a fantastic light show than with a cup of hot cocoa from home and surrounded by your loved ones. You can even help the community by bringing canned goods to the lights on Dec. 13! Those who bring at least five items will receive a $20 Food Lion gift card! Learn more and buy tickets online.

14TH ANNUAL CHRISTMAS TREE AND WREATH AUCTION & EXHIBIT When: Dec. 3–20 Where: The Halle Cultural Arts Center Admission: Free Website: TheHalle.org See festive decor and get inspiration for your own decorations at The Halle’s 14th Annual Christmas Tree and Wreath Auction & Exhibit. This gallery takes you on a tour of holiday creativity with various themed trees and wreaths depicting various organizations in the region. You can even bid on your favorite display and take it home with you! Proceeds from the auction will benefit Western Wake Crisis Ministry, which provides food and utility assistance. Learn more about the exhibit online.

DURHAM HOLIDAY PARADE When: Saturday, Dec. 18, at 11 a.m. Where: Downtown Durham, North Carolina Website: DPRPlayMore.org

Celebrate the holidays with lots of fanfare at the annual Durham

Holiday Parade. The event will feature performances from local bands and drill teams as well as floats from local groups. Rumor has it Santa Claus will even make a special appearance! Your kids and grandkids will love this local parade, and nothing can put you in the holiday spirit quite like a stop at the Durham Holiday Parade. Learn more online!

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Congratulations to everyone planning to retire in 2022! This is the moment you have waited and worked so hard for, and we hope it is everything you have planned it to be. But as the big day draws closer, you may find yourself waffling between excitement and nerves. Don’t fret — if you’re retiring in 2022, we have an at-a-glance guide for what you need to keep in mind to make this transition as smooth as possible. Keep this article on hand for when retirement gets closer! For starters, Social Security income is increasing. The Social Security cost of living adjustment (COLA) is jumping nearly 6% in 2022. That means retirees at age 62 and older can live a little more comfortably, which can offer greater peace of mind for new retirees. It’s not uncommon for new retirees to experience some early panic as they start this new chapter without Retiring in 2022? What You Need to Know!

TAKE A BREAK

the traditional income they have received from a job for decades. However, this is what we plan

for. Your savings will help you live the lifestyle you want, and this COLA just gives it a boost.

Crispy Fish With Brown Butter Sauce Inspired by BonAppetit.com

Then, consider your health insurance. If you’re retiring before the age of 65, you may have to consider purchasing supplemental insurance to cover your medical, vision, and dental expenses until you are

INGREDIENTS

• 1 tbsp olive oil • 4 5-oz Chilean sea bass or salmon fillets, skin-on • Salt and pepper, to taste • 6 tbsp unsalted butter, cut into pieces

• 1/2 cup blanched

old enough to enroll in Medicare. Even so, some components of health care are not covered under Medicare, such as dental work. You may still need supplemental options after enrolling in Medicare. Discuss these options with your partner or a trusted Medicare expert. (We can help you, too!) Finally, start planning now. You have your financial house in order. (By partnering with Patriot Wealth, you are far ahead of many others who retire without a retirement plan.) However, have you considered what you will do in retirement? Do you have a backup plan or other dreams you can focus on, too? Retirement is a big change, and while it’s something many people anticipate, few take the time to create tangible plans. Write down your goals and prepare for the emotional part of retirement before it happens. If your pending 2022 retirement has you nervous, let’s chat about it. We want to help you feel confident about this exciting next step.

hazelnuts, chopped

• 2 tsp lemon juice • Lemon wedges, for garnish

DIRECTIONS

1. In an unheated skillet, add oil. Season fish with salt and pepper, then add to skillet (skin-down). 2. Heat the skillet to medium and cook for 4 minutes. With a spatula, press each fillet down, rotating between fillets every few seconds. When the skin begins to crisp, stop pressing and cook 8–10 minutes, then flip and cook for another minute. Remove the fish. 3. Wipe the skillet clean and return to medium heat. Add the butter and hazelnuts. Heat, swirling continuously, until butter foams and browns. Remove from heat. 4. Stir in lemon juice and season to taste. Pour over fish, garnish, and serve with salad.

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INSIDE THIS ISSUE

Finding Your Personal Freedom PAGE 1

Get the Most Out of Your Sleep PAGE 2

3 Holiday Events to Celebrate the Season! PAGE 2

Crispy Fish With Brown Butter Sauce PAGE 3

What You Need to Know if You’re Retiring in 2022 PAGE 3

Reading to Your Children Reaps Benefits Galore! PAGE 4

The Benefits of Reading to Your Children

PREPARING FOR SUCCESS IN SCHOOL According to a study by the American Academy of Pediatrics, more than 1 in 3 American children enter kindergarten without the necessary reading skills to succeed in school. But if you read to your children, you expose them to new words and help develop their listening skills as they listen to you read. You can also ask questions about their reading comprehension along the way to ensure they understand what is happening in the story. These skills are vital to academic success. IMPROVING YOUR RELATIONSHIP The best way to create a special bond with your little ones is simply by spending time with them, and reading to your child on a routine basis is a great way to do that. Plus, reading stories provides a positive and educational experience where they can talk to you and vice versa. This will help you learn more about your child’s developing interests so you can find new ways to encourage them to learn and explore their passions.

Even at a young age, reading to your children is an important tool to help them grow and learn while sparking their creativity. Your child will help develop their early literacy skills and ability to focus, plus increase their social skills and communication skills. When you begin reading to your child, they gain a greater understanding of the world, which allows them to make sense of the things they see, hear, and react to in their daily lives. But the benefits of reading don’t stop there. IMPROVING LANGUAGE SKILLS Reading to your child when they are an infant can help strengthen their language acquisition skills. If you continue reading as they get older, these skills will only grow. They begin to latch on to spoken communication. Improving their vocabulary and grammar skills through hearing the written word is even more effective than what they gain from everyday conversation. Why? Because the human brain comprehends written communication differently than spoken communication.

No matter which way you look at it, reading to your children provides a positive experience that will help them grow.

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