Patriot Wealth - March 2021

Patriot Wealth - March 2021

MARCH 2021

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PATRIOT WEALTH

PROUD TO BE A SMALL BUSINESS OWNER

Supporting Local Mom and Pop Businesses

According to a study by WalletHub, which examined more than 100 cities across the U.S., Raleigh and Durham are the eighth-best and seventh-best places to own a small business, respectively. I couldn’t agree more with that finding. As we have grown, so has this community and the small business offerings within it. In particular, we have seen tremendous growth in the tech and pharmaceutical sectors, and let’s not forget that Raleigh is one of the best places in the nation for craft breweries and local eateries. With so much growth and small-business pride right here in North Carolina, I am honored to be part of a growing community like this one. I also recently learned that March 29 is National Mom and Pop Business Owners Day, and that’s something I understand well. It is a blessing to have the opportunity to serve many families across the Raleigh/ Durham area. At Patriot Wealth, we value the deep relationships that truly reach beyond the “work” we do every day. Whether they’re small, family businesses, like Patriot Wealth, or bigger operations that started out of a garage, like Amazon, small businesses are the foundation of growth in this country. In 2019, the Small Business

Administration released a report showing that small businesses created 44% of all U.S. economic activity. That’s very substantial. Small businesses may not be the corporations that make headlines or the big publicly traded corporations on Wall Street, but families across the U.S. rely on small businesses. This March, I encourage everyone to support local businesses. Check out ShopLocalRaleigh.org to find great local business options, then stay active with these businesses on social media or tell your friends and family about them. Your continued support of local businesses will ensure the entrepreneurial spirit stays alive and well!

Here are my top local favorites!

• Bella Monica • Brewery Bhavana • Handy Man Hardware • Raleigh Brewing Company • Roma’s Italian

There are many choices when seeking financial guidance. We are grateful you are part of the “mom and pop” business of Patriot Wealth!

–Wes 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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A LITTLE DISTRACTION

THIS ONE SMALL THING IS KILLING YOUR PRODUCTIVITY

Distractions in your workplace destroy your productivity, regardless of where you actually work. But here’s the kicker: Some distractions don’t always register as distractions because they’re often minor, like a knock at the door or a conversation you can hear from two cubicles over. However, even when a distraction doesn’t feel like a distraction, it still kills your productivity. But one distraction in particular can absolutely ruin productivity. It isn’t as obvious as an unexpected phone call or a meeting that could have been an email. It’s a small, normal part of our everyday lives: the notification . We get notifications on our phones, tablets, laptops, desktops, and even our smartwatches. Notifications are everywhere, and we’re conditioned to accept them.

When an email, text, or other random notification distracts you, it completely diverts attention away from what you were doing. If it’s spam, you may delete the email. Or, if you need to respond, it might take a few minutes or more. You may spend anywhere between 20 seconds to 20 minutes on any given email. However, this isn’t where time is lost. If you’re responding to a customer email, for instance, that is part of your productivity. The time is lost when you attempt to get back to what you were doing before checking your notifications. A University of California, Irvine study found that it takes an average of 23 minutes to get back to your task after every distraction, not just email. Over the course of a day, that adds up to a significant amount of wasted time. How do you overcome this? Your best bet is to turn off notifications. Most devices let you customize your notifications so you can turn them off during working hours. Here’s another quick tip: Set aside time during the day to check emails, texts, and other messages. You will significantly reduce the amount of time spent trying to refocus on the important tasks at hand.

Take email, for example. You’re likely in the habit of checking email periodically — or whenever you get a notification. It can feel natural to quickly check your email and then get back to what you were doing. Except that never happens.

What the New Treasury Secretary Could Mean for Our Futures JANET YELLEN AND YOUR RETIREMENT

On Monday, Jan. 25, 2021, Janet Yellen became the first woman to head the U.S. treasury department. Yellen brings with her an extensive history of economic knowledge, having previously served as the chairwoman of the Federal Reserve from 2014–2018, as the former chair on an economic council under former President Bill Clinton, and as a former professor at the University of California, Berkeley.

This could have various effects on all facets of retirement. For retirees, it could offer welcome hope that Social Security will continue to boost their monthly income each month. For workers who want to save more for retirement, possible options could be a welcome sign of more savings plans. However, Yellen also has a fluctuating pandemic economy to contend with. That could complicate future efforts to focus on retirement. In particular, Social Security’s ticking clock was likely accelerated by the pandemic, MarketWatch reported. This is where Yellen’s background, education, and beliefs could be beneficial. Yellen is what’s known as a Keynesian economist, which means she interprets the economy in terms of how it affects employment, product output, and inflation. She also focused more on unemployment than inflation or increasing interest rates when she was at the Federal Reserve. For now, there is little we can know about the impact Yellen will have on the economy and retirees’ futures. Regardless, your team at Patriot Wealth will continue to fight for your needs. If you have a question about how governmental changes could influence your retirement plan, please call us today.

But it’s not her accolades that should interest retirees.

Yellen has promised to focus on retirees and address the Social Security crisis during her tenure as treasury secretary. In particular, one of Yellen’s primary goals is to ensure that it’s easier for middle-income families to save for retirement. Alessandra Malito of MarketWatch wrote that Yellen “mentioned offering tax incentives for small businesses wanting to start retirement programs, bolstering the Social Security system, giving workers without 401(k) plans access to an ‘automatic 401(k)’ and balancing tax benefits for all income levels” during her confirmation hearing. Social Security, which is set to run out of money by 2035, is also on Yellen’s radar. She detailed plans to work with government officials to prioritize this issue.

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The old saying posits that you are what you eat, so if you want to live a longer, healthier life, then you have to eat like it. In honor of National Nutrition Month, take time to focus on the ways your diet can have anti-aging benefits that are far better than anything you can find in a bottle. Here are a few ideas to get your new meal plan started! EAT THE RAINBOW The components that give fruits and vegetables their color also provide your body with essential nutrients to prevent the effects of aging. For example, yellow and orange foods, like oranges, bananas, sweet potatoes, and carrots, are chock-full of nutrients your skin loves. Deep green foods like spinach, kale, cilantro, and broccoli can also be good for your heart. (Spinach, in particular, has the highest naturally occurring amount of the heart-boosting nutrient vitamin K.) Meanwhile, pomegranates are a “magic fruit” for their anti-inflammatory benefits — and, scientists have found, they may help bolster some cancer treatments. GO NUTS Snacking on peanuts or adding almonds to your salad just might be better for your body than you think. Nuts contain “good fats,” which can have direct benefits for your overall health. One 2015 Journal of the American Medical Association study suggests that consuming nuts that are high in omega- 3s, like walnuts, may improve your brain function. The fats found in nuts, along with the added fiber, are also good for your heart and can prevent or help manage many diseases that accompany obesity. USE YOUR PROTEIN POWER Protein is an essential nutrient for energy, muscle protection, skin improvement, and more. However, as you age, some sources of protein may not be viable for your heart or overall health. Red and fatty meats can be dangerous for already aging arteries, so instead, opt for beans, salmon, tofu, and other lean sources of protein. These will protect your heart and arteries from further damage. As a bonus, many lean protein sources could also be advantageous for your heart. For example, fish is loaded with omega-3s, which boost heart health. HOW YOUR DIET COULD BE THE BEST WAY TO FIGHT AGING EAT FOR YOUR AGE

TAKE A BREAK

English Ground Beef Pasties

INGREDIENTS

• 3/4 lb ground beef • 1 medium onion, diced • 2 medium potatoes, peeled and diced • 2 sheets store-bought puff pastry dough

• 1 tsp dried parsley • Salt and pepper, to taste • 1/4 cup beef broth (as needed)

DIRECTIONS

1. Preheat your oven to 400 F and line a baking sheet with parchment paper. 2. In a large bowl, combine the beef, onion, and potatoes. 3. Roll out the pastry dough into roughly 10-inch circles or squares. 4. Spoon 1/2 of the beef mixture onto each sheet of dough, then top the mixture with parsley, salt, and pepper. 5. Fold the edges of the dough over the filling, pinching each pasty shut and tucking in both ends. 6. Transfer the pasties to the prepared baking sheet, then cut several small slits in each pasty for ventilation. Bake for 45 minutes. 7. Remove the pasties from the oven and reduce the heat to 350 F. Spoon 1 tsp beef broth into each slit, then bake for an additional 15 minutes. 8. Serve and enjoy! Inspired by AllRecipes.com

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PATRIOT WEALTH 4350 Lassiter at North Hills Ave. #330 Raleigh, NC 27609 INSIDE THIS ISSUE Support Your Community on Mom and Pop Business Owners Day PAGE 1 Don’t Let This Tiny Distraction Destroy Your Productivity PAGE 2 Will the New Treasury Secretary Impact My Retirement? PAGE 2 English Ground Beef Pasties PAGE 3 Fight Aging With Your Diet PAGE 3 The Easiest Anti-Aging Tactic? Laughter PAGE 4

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WHY LAUGHTER IS GOOD FOR YOU Laugh More, Age Less

As we age, we’re told to wear sunscreen, eat more vegetables, take vitamins, and even walk more — all in hope that our internal clocks will slow down and we will age better. But something as simple as laughter could actually be one of the easiest ways to slow the ticking clock of aging. Scientists have long known that laughter can be therapeutic and help us live longer. It has been shown to reduce wear and tear on our bodies and improve our relationships. A Norwegian study found that those who prioritized humor were more likely to live past 70 than those who didn’t laugh often. At a biological level, laughter can reduce tension in your muscles and activate a powerful stress-relief response from

your brain by releasing dopamine. Just one chuckle may even improve your breathing and heart function! In fact, laughing can work wonders for the heart. One study showed that laughter therapy helped reduce the blood pressure and cholesterol levels of its participants. Their blood circulation improved, too. Studies have also found that regular laughter can help strengthen your immune system, and it has long-term benefits for those with respiratory conditions. In addition to your body, laughter is also good for your social life. (And we don’t mean that people will want to spend time with you if you have all the good jokes!) Throughout history, laughter has been an evolutionary sign of understanding. When there are language barriers, laughing together can

create camaraderie and a tighter bond between people of different cultures. The dopamine release that comes with laughter aids in stress relief and creates powerful memories that can improve your mood and strengthen friendships. Of course, laughter has its downfalls, too. Laughing at someone else’s expense is detrimental to their health and can harm your relationships. So, stick to light jokes and actively seek shows, cartoons, or people who make you laugh. You’ll feel good, and your body will be pretty happy, too.

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