Patriot Wealth - October 2020

Patriot Wealth - October 2020

OCTOBER 2020

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PATRIOT WEALTH

KING OF THE GRILL

FIRE, FUN, & FAMILY

When I learned that October is National Cookbook Month, I knew immediately what I was going to write about for this letter — or should I say whom I was going to write about. My father-in-law, Randy, is a true grill master and smoker. You name the meat, and Randy has probably grilled it or smoked it. You won’t find tofu at his house! To paint you a picture of just how dedicated he is to his craft, Randy has five grills or smokers at his house. He has one charcoal grill, a large competition-sized smoker, two pellet-fed smokers, and a Kudu, which is a South African pit grill. Needless to say, we always leave full and with a new favorite way to eat ribs, steak, pork, or even mac and cheese after visiting my in-laws. One of my favorite meals that he frequently makes is a homemade creation of sausage patties stuffed with my mother-in-law’s homemade pimento and cheese recipe. The whole patty is then wrapped in bacon! I can’t get enough of it. (Check out the recipe on Page 3!) Randy was interested in grilling and smoking long before I joined the family, and since retirement, he’s become more involved. (Anyone looking for a hobby in retirement? I know a guy who can help you get set up!) He frequently posts pictures of his creations on Instagram. Give him a follow @rgbrunk to check out his mouthwatering creations!

smoker for my Father’s Day present this year! It was a great gift, I’ve

“IT’S BEEN FUN TO SEE HOW RANDY’S HOBBY BRINGS FAMILY AND

already smoked ribs, fish, steak, and pork butt. There’s nothing quite like sitting down to a meal that’s been roasting in your smoker since 4 a.m. that morning. It adds a certain amount of excitement to the experience! I’m sure someday Noah will start to pick up the family’s tricks of the grilling trade. Randy has already gotten Noah his own mini, red Weber grill — a toy, of course — so Noah can practice his grilling technique while Grandpa makes dinner. I know there FRIENDS TOGETHER, AND I CANNOT WAIT TO SEE HOW IT EVOLVES FURTHER.”

will be many backyard barbecues in the future, where Randy, Noah, and I gather around the smoker and the grill, contemplating the consistency of the meat and the cooking temperature.

It’s been fun to see how Randy’s hobby brings family and friends together, and I cannot wait to see how it evolves further. Thanks, Randy!

–Wes White

Since joining my wife’s family, I’ve also taken to grilling and smoking. In fact, my in-laws and my wife went in on a nice

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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HOW TO BUDGET FOR AND MAXIMIZE YOUR SAVINGS

While saving money is difficult for some and easy for others, we can all agree that doing what we can to put a little money aside can help us in the long term. Here are two ways you can get the most out of your savings. OPEN A HIGH-YIELD SAVINGS ACCOUNT. There are multiple ways to open a savings account, but which is the best? If you want the highest interest rates and low (or no) fees, a high-yield savings account is your best choice. The main difference between this kind of account and a traditional savings account is the annual interest rate. While some brick- and-mortar banks do offer high-yield accounts, many — and those with the highest interest rates — are offered through online-only banks. Why is it worth moving your money into a high-yield account? They offer interest rates that are 20–25 times higher than traditional savings accounts. Whereas a savings account at a traditional bank may offer a 0.01% interest rate, a high- yield savings account offers rates between 1%–2.2%. So, if you put $10,000 in a traditional savings account with a 0.01% interest rate, then you’d earn $1 at the end of one year. But if you put the same amount into a high-yield savings account

with a compounding interest rate of 1%, you would earn around $135 in one year.

PAY YOURSELF FIRST. Even if you have a great savings account with a high interest rate, it won’t do much good if it’s empty or you don’t add to it regularly. Many people don’t think about their savings until after the bills have been paid each month. However, it’s actually better to save first! Contributing to your savings before you pay your bills or make other purchases will ensure you prioritize saving and maximize your great interest rate. As a bonus, when you put money into your savings first, then pay your bills, you’ll minimize the temptation to spend on unnecessary extras. To figure out how much to save each month, start by making a simple budget. Add up your monthly expenses, then see how much is left and how much of that you can put away. Make saving a priority by building this habit into your monthly routine and you will rest easy knowing you have a little extra tucked away for a rainy day.

FALL ACTIVITIES FOR ALL AGES!

Here in North Carolina, we’re lucky to have year-round near- perfect weather, but as the temperature dips and the air becomes cool, fall becomes the perfect time to get out and explore. This year’s pandemic may make fall traditions more complex than usual, but you can enjoy autumn while staying safe in plenty of ways. GO FOR A HIKE AT LAKE JOHNSON PARK. With more than 5 miles of trails to roam and trees that hug every curve in the lake, you won’t ever want to leave this picturesque park. Take the grandkids for a hike through the park, or plan a special date for leaf peeping along the path. (Did you know that October is the best time of the year to see the fall leaves in Raleigh?) Or, you can enjoy some quiet fishing, boating, or kayaking. All of this exploring without ever leaving Raleigh? Sign us up! GET LOST AT PAGE FARMS. Each year, Page Farms welcomes families and kids for fall farm adventures, including pumpkin picking, exploring the corn

maze, or going on a hayride. While Page Farms may not be able to offer all of its amenities this year, you can still enjoy plenty of fall adventures on the farm. Page Farms is preparing its pumpkin patch, but check its Facebook page for updates on the corn maze and other fun adventures. Regardless of what you can do, there’s nothing like a day at the farm to make for a great fall adventure. GO CAMPING! Camping is often thought to be a summertime activity, but there’s nothing like relaxing in nature with beautiful changing leaves surrounding you and no bugs in sight! Plus, the crisp, cool air makes fall a great time to explore our local region and go camping. Just be sure to pack warm blankets, jackets, and cold gear for those brisk nights. A warm fire and some s’mores should help heat you up, too! Inquire about COVID-19 precautions and policies with individual establishments. Go to VisitRaleigh.com to find more local adventures.

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The marvel of modern medicine has given us more years to live than our parents and grandparents before us, and there’s a chance that our children and grandchildren may live even longer. But as medicine has improved, our retirement strategies have had to grow as well. Those saving for retirement must consider the possibility that they’ll live longer than expected when they first began saving for retirement and what that might mean for their income, lifestyle, and health. WE’RE LIVING LONGER WHAT DOES THAT MEAN FOR YOUR RETIREMENT?

Start preparing for your own long retirement with these three tips.

DISCOVER YOUR PASSION It has never been more important to find what drives you in retirement. The honeymoon phase will end, and you will eventually find yourself feeling a little bored. As the possibility of spending about one-third of your life in retirement looms over you, consider what you’re most passionate about. Do you want to travel? Is time with your family most important to you? Do you want to discover a new hobby? Find out what drives you and commit to it in retirement.

TAKE A BREAK

SAUSAGE FATTY

INGREDIENTS

• 1 lb ground sausage, divided • Barbecue sauce (we use Sweet Baby Ray’s)

• Jar of diced jalapenos • Shredded cheese • 8 strips of bacon • Dry rub

EARN MORE INCOME Retirement isn’t the end of the profit road. You can find a part-time or seasonal job, start your own business, or even dabble in investing while retired. The bonus with this endeavor is that the extra money you earn can fund some of your everyday expenses while you continue to save your retirement earnings for larger plans, like a trip to Europe or a house remodel. PREPARE NOW FOR LATER At Patriot Wealth, our goal is to help you prepare for retirement and your family’s future. If you believe your retirement plan needs an adjustment for longevity, we can help you make changes that will provide you with the greatest peace of mind. Maybe we need to reallocate some investments or you need extra assurances for more saving. Whatever it is, we can help you find an option that best fits your long retirement. If you have questions about your retirement plan or would like our guidance in preparing for a longer future, give our team a call today. We can help you create a future you will be excited to live — no matter how long it is.

DIRECTIONS

1. Cut bottom corners out of 2 large sandwich bags. 2. Put a half-pound of sausage in each bag and close. 3. Flatten out the sausage. 4. Cut bottom and two sides of bag and peel

8. Roll up sausages as tight as possible starting at the top. 9. Lay 4 strips of bacon on wax paper. 10. Place a roll on the bacon and wrap bacon around sausage roll. Repeat with other ball of sausage. 11. Sprinkle with dry rub. 12. Smoke at 225 F for 2 1/2–3 hours until internal temperature of meat is 160 F. 13. About 15–20 minutes before it’s finished, glaze with barbecue sauce.

back to reveal the flattened sausage. 5. Squirt 3–4 tbsp of

barbecue sauce along top edge of each sausage patty about 1 inch from the edge. 6. Sprinkle the jalapenos on the barbecue sauce. 7. Sprinkle cheese on top of jalapenos.

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PATRIOT WEALTH 4350 Lassiter at North Hills Ave. #330 Raleigh, NC 27609 INSIDE THIS ISSUE A Recipe for Memories: My Father-in-Law’s Tasty Hobby PAGE 1

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How to Save More Money PAGE 2

Get Outside (Safely) This Fall PAGE 2

Sausage Fatty Recipe PAGE 3

3 Steps to Prepare for a Long Retirement PAGE 3

Weird and Wacky Halloween Laws PAGE 4

SPOOKY CITY REGULATIONS HALLOWEEN LAWS ACROSS THE U.S.

HOLLYWOOD, CALIFORNIA: NO SILLY STRING The Los Angeles City Council has banned Silly String and all other brands of aerosol string from use on Halloween in the Hollywood area. From midnight on Oct. 31 until noon on Nov. 1, no one is allowed to spray, sell, or distribute Silly String in public locations. Use of Silly String got so popular in the city on Halloween that the mess left behind became a strain on sanitation workers, and the city sympathized with them.

Halloween can be a mischievous holiday. The most innocent of us reserve it for backyard parties and trick-or-treating, but some like to get a little rowdier than others. That’s exactly why various city councils across the U.S. have passed some seemingly unusual laws to regulate spooky festivities. REHOBOTH BEACH, DELAWARE: NO SUNDAY TRICK-OR-TREATING If Halloween falls on a Sunday, children in Rehoboth Beach are required to trick-or-treat the night before. The explanation in the city code is simple, but ambiguous: to prevent children and their guardians from going door to door on Sunday evenings. Rehoboth Beach law also forbids children from roaming the streets on Halloween “with the intent to cause trouble,” but what exactly that means is ambiguous as well.

by passing a law restricting teenagers who are past the eighth grade — generally older than 13 — from going door to door on Halloween. WALNUT, CALIFORNIA: NO MASKS WITHOUT PERMITS In a simpler time, there was no paperwork required to celebrate Halloween to the fullest. But in the city of Walnut, no one can wear a mask or other disguise on public streets without a permit from the sheriff. The law doesn’t specify any exceptions, so residents are left to assume that everyone from age 5 to 100 must abide. Whatever your Halloween celebrations might look like this year, it’s important to have fun, but remember to abide by any rules or laws your city might have in place in an effort to keep its citizens safe.

BELLEVILLE, ILLINOIS: NO 8TH GRADERS

Trick-or-treating is most often viewed as an activity reserved for younger generations, but how do you determine what age is “too old” for this type of generally good-natured fun? Well, the city of Belleville settled the ambiguity

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