Capital Advisory Group - August 2022

Capital Advisory Group - August 2022

THE WEALTH ZONE

August 2022

119 Old State Rd., Ellisville, MO 63021

CapitalAdvisoryGrp.com

School is back in session! While children and teenagers are stocking up on notebooks, pencils, and planners for the school year, you can begin preparing, too. When my clients come into my office and ask me about strategies they can implement for their child’s future, I always suggest choosing 529 plans. Here is everything you need to know about 529s and how they can help you and your family prepare for your child’s future. What is a 529 plan? This plan aims to encourage parents to save for future education expenses. Prepaid tuition and educational savings plans are two types of programs within the 529 plan. Missouri has the education savings plan, which offers convenient, flexible, and tax-advantaged ways to save money for college. The education savings plan allows parents to open an investment account to save money for future schooling expenses. You can choose between investment options like mutual funds, exchange- traded funds, and target-date portfolios. What qualifies as an education-related expense? You can use money from your 529 plan to pay for tuition, fees, textbooks, computers, dorm rooms, meal cards, utilities, studying abroad, off-campus living, and more. A new benefit for 529 account owners is that you can use your plan to help pay student loans. This change occurred in 2019 when the Secure Act became law. You can withdraw up to $10,000 tax-free to help pay for any loans your student accumulates throughout their academic career. Can a 529 plan only be used for postsecondary education? No! Along with college, you can use your 529 plan to pay for elementary, middle, and high school tuition if your child is enrolled in a private school. Parents can use up to $10,000 per child, per year to help pay for those expenses. Invest in a 529 Plan! PREPARING YOUR CHILD FOR SCHOOL?

How does investing in a 529 plan affect federal and state income taxes? Many tax benefits are included when investing in a 529 plan. One of the best benefits is that the tax-free earnings will grow over a period of time. The longer you invest, the more time it has to expand. Using this plan, you will also receive 5% off your state taxes. Contributions may be deducted from state and income taxes. If you withdraw money from your plan to pay for school expenses, you are not subject to federal and state income taxes. However, suppose you withdraw money and do not use it for educational expenses. In that case, you will be subject to state and federal income taxes and a 10% federal tax penalty on earnings. Will it affect financial aid eligibility? Investing in a 529 plan will impact your child’s financial aid eligibility because financial aid loans are need-based. But, because you will be saving money for their future, you won’t need to take out as many loans. This will lessen the debt you or your student will need to pay back in the future. If you have any questions or concerns about using a 529 plan, allow Capital Advisory Group to assist you! We can explain the benefits and restrictions of this plan and provide strategies to best utilize this option. Want to learn more financial tips and keep more of your wealth? Tune in to my radio show, Keep What’s Yours, every Saturday from 3-4 p.m. on KTRS radio for more information.

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Golf is an enjoyable sport that anyone can participate in regardless of experience, ability, and age. There’s nothing quite like teeing off on the first hole after a difficult week of work. Though it can certainly be frustrating at times, golf is a fun sport with many amazing perks. Reading the following benefits will make you want to head to your local course, even if you’re not a regular golfer. It’s great exercise. Playing a full 18 holes of golf can be exhausting and for good reason. Swinging a golf club works your forearms, core, shoulders, and back muscles. If you choose to walk the course, you’ll be getting in a great workout as the average course length is about 4 miles. You can also carry your golf bag for an even better workout. It builds character. It doesn’t matter if you’re a seasoned golfer or on the course for the first time, you are not going to have a perfect round. You may miss a putt or end up in the sand trap, but you decide how you react to the situation. You can get mad and potentially play worse or understand that everything is not always going to work out in golf. That lesson can even be applied to your everyday life. It’ll draw you outside. Most of us can use some additional time outdoors, and golf provides the perfect opportunity. Between rolling hills, picturesque ponds, and lush trees, the golf course is a beautiful setting. Even if you’re playing poorly, you can still enjoy being outside for a few hours out of your day. TEE OFF THIS SUMMER 4 GREAT BENEFITS OF GOLF

When you go to a nice restaurant, you’re not just paying for food — you’re also paying for an experience. Decor might be the last thing on a guest’s mind, but with the right design, some restaurants are absolutely breathtaking. Here are a few of our favorites. Pink Cadillac Diner — Natural Bridge, Virginia Taking a step into this restaurant feels like stepping straight into the 1950s … in all the best ways possible. The diner’s bold, beautiful shades of bubblegum pink — including a vintage pink Cadillac parked in front — prompt nostalgia and delight. Accompanied with a classic burger and ice cream diner menu, this East Coast gem is a destination you won’t want to miss. Cecconi’s Dumbo — New York City There are plenty of gorgeous restaurants in the Big Apple, but you’ll always hear Cecconi’s Dumbo mentioned among the best. Located in Brooklyn Bridge Park, your table might have dramatic views of the bridge or a waterfront view of the Manhattan skyline. It’s the best possible pairing with their classic Italian menu, complete with handmade pasta and high-end ingredients from Italy. 3 Most Beautiful Restaurants in America Where the View Is Part of the Menu

It’s fun for the entire family. Golf isn’t just for businessmen. Anyone can find enjoyment in the game. It can be a great weekend activity for the entire family or the perfect bonding experience

between relatives. There are par 3 courses across the country that offer an easier experience for new golfers, and you can always play nine holes

The French Laundry — Yountville, California If there’s a contest for the best food and views offered by a restaurant in America, this three-star Michelin restaurant just might place first. Run by Thomas Keller, its rustic, cottage-like setting in Napa Valley always turns heads with its surprisingly sophisticated design (as well as its exclusive tasting menus!). The restaurant’s gardens are beautifully lit and dotted with Japanese maple trees — a sight that will blow you away. Most people can have a good meal at home, so if you have the time and money, why not pay a little extra for a nice view? Go ahead and indulge. We won’t judge — we’ll even be a little jealous!

instead of 18 to cut down on time and conserve energy.

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CapitalAdvisoryGrp.com

Need Help Creating a Budget? HERE ARE 3 TIPS TO GET STARTED!

2. Revisit your budget often. Many unexpected events can happen in life, so it’s best to adjust your budget accordingly. Does changing your budget take time? Yes! But it’s worth it because it helps you stay on track with your goals. You can choose how often you revisit your budget and see if you need to make any adjustments. You can look once a week, every two weeks, or once a month if you prefer. It’s recommended to revisit your budget once in between your paychecks. This helps you see how much money you have left from your last check and how much you will need to save in your next statement. 3. Track your spending. Keep a total of how much you spend in a day. It will help you see exactly where your money is going and help you identify areas you can live without. Tracking your spending also

We’ve all heard the advice, “Start budgeting! It will help you save money.” But it’s easier said than done, especially when you’ve never tried to budget. Budgeting helps you change your spending habits, and habits are hard to break if you’ve had them your entire life or never tried to change them. Here are three tips to help you start budgeting and keep more of your wealth. 1. Keep your goals visible. If you want to save a certain amount of money during a period of time, be debt-free, or anything else, write down your financial goals and refer back to them often. It’s a physical reminder to keep you motivated and determined. Having your goals stay top of mind will help you make spending decisions more wisely — even when making small expenses. It also shows you how much you’ve accomplished during your budgeting journey. Achieving financial security and success doesn’t always have an easy answer. Our team at Capital Advisory Group is dedicated to helping you protect your wealth, and while doing so, you may have the following questions: • What are the rules when investing in cryptocurrency? • Should I retire during a high inflationary period? • Which form of investing is best for me — active or passive? • What do I need to know if I’m retiring this year? If you are curious about any of the above questions, please call Capital Advisory Group today at (636) 394-5524! Have Questions? We Have Answers!

enables you to notice any of your habits and what areas you can improve on. It’s hard to learn how to budget (and stick to it) if you’re unsure how much money you spend. You can categorize these expenses to see which areas are the most consuming. Then, you can adjust from there. Several expense-tracking apps are available to help you stay organized and on track with your goals. If you need help organizing your finances and creating a budget, allow your friends at Capital Advisory Group to assist you. We will be happy to look at your spending habits, monthly earnings, and goals to help you determine which budgeting strategy works best for you.

Restaurant-Style Chicken Marsala

Ingredients

• 1 cup flour, for dredging • Salt and pepper, to taste • 4 boneless, skinless chicken breasts, pounded to 1/4-inch thick • 1/4 cup extra-virgin olive oil

• 4 oz prosciutto, thinly sliced • 8 oz mushrooms

• 1/2 cup Marsala wine • 1/2 cup chicken stock • 2 tbsp butter

Directions

1. In a bowl, mix flour, salt, and pepper until evenly distributed. 2. Add chicken to flour mixture and coat all sides. Shake off any excess. 3. In a large skillet over medium-high heat, add olive oil. Once hot, add chicken to the skillet. Work in

5. Lower heat to medium. Add

prosciutto to pan and sauté for 1 minute. Add mushrooms and sauté until browned, about 5 minutes. 6. Add Marsala to skillet. Let it come to a boil, then add the chicken stock and simmer for 1 minute. 7. Stir in the butter and add chicken back into the skillet. Let simmer gently for an additional minute, then serve.

batches if pieces don’t all fit in the pan. Cook each side for 5 minutes until golden brown.

4. Remove chicken to a platter.

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(636) 394-5524

Inspired by FoodNetwork.com

119 Old State Rd. Ellisville, MO 63021 CapitalAdvisoryGrp.com

PRST STD US POSTAGE PAID BOISE, ID PERMIT 411

ISSUE INSIDE THIS

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This Plan Has Many Tax Benefits

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Siri, What’s the Prettiest U.S. Restaurant?

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4 Reasons to Start Golfing This Summer

Acknowledging Your Spending Helps Break Bad Habits

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Restaurant-Style Chicken Marsala

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August 31 is National Eat Outside Day!

August 31 is National Eat Outside Day! Celebrate the end of summer with your loved ones and the great outdoors. Whether you’re planning a cookout, making sandwiches and snacks, or taking food to go, here are some of Capital Advisory Group’s favorite places to picnic. CELEBRATE THE END OF SUMMER BY VISITING THESE 3 PARKS

Babler State Park 7 a.m. – 9 p.m., daily 800 Guy Park Dr, Wildwood MOStateParks.com/Park/Dr-Edmund-Babler- Memorial-State-Park In 1934, Jacob and Henry Babler gave 88 acres to the state in memory of their brother. They believed a park dedicated to their brother would grow and attract people for generations — and they were right! Soon, a bronze statue of Edmund Babler was created and is in memory of Babler’s hard work and dedication to his service to the less fortunate. Today, you can go to this park for cookouts, picnics, family gatherings, camping, hiking, and biking.

Queeny Park 8 a.m. – dusk, daily

Tilles Park 8 a.m. – dusk, daily 9551 Litzsinger Rd. StLouisCountyMO.gov/St-Louis-County- Departments/Parks/Places/Tilles-Park C.A. Tilles donated his farm to St. Louis in 1932 in memory of his mother, Rosalie Tilles. He wanted his land transformed into a public park for the locals and tourists to use and spend time with friends and family. Tilles Park is one of the most visited parks in the county, especially at Christmas during its Winter Wonderland lights display. But the park is popular during the summer with its playgrounds, spray fountain play area, reservable shelters, picnic areas, trails, tennis courts, and fishing spots.

550 Weidman Rd. (West Side), 1675 S. Mason Rd. (East Side)

StLouisCountyMO.gov/St-Louis-County- Departments/Parks/Places/Queeny-Park

Queeny Park was once part of the estate of Mr. and Mrs. Edgar M. Queeny. Mr. Queeny was the former president and chairman of the board of Monsanto Chemical Company. The house on the west side of the park was the couple’s home and is one of the best examples of Greek Revival architecture in Missouri. This park has many features and amenities for you and your family, like playgrounds, tennis courts, fishing spots, reservable shelters, picnic areas, trails, dog parks, and a recreational center.

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Securities offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC, (Kestra AS) an affiliate of Kestra IS. Capital Advisory Group, Inc. is not affiliated with Kestra IS or Kestra AS. Neither Kestra IS or Kestra AS provide legal or tax advice and are not certified public accounting firms. KestraFinancial.com/disclosures