The Welch Group - August 2021

The Welch Group - August 2021

That Time of Year Once Again — Back to School But Something Is Different

With the end of summer comes fall, and with fall comes back to school. For my family of four, this year’s back-to-school season looks slightly different than previous years. My daughter, Peyton, and my son, Bo, are 15 months apart and this year, while Bo is entering his senior year, Peyton is heading off to college. This is certainly bittersweet for all of us as we are a tight-knit family. And while it will be a big change having our daughter in college, I am excited for all my children are taking on in the upcoming year.

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The pride that comes along with parenting is outstanding. Both kids have never given us a minute’s trouble. I truly believe I owe this to keeping them busy with sports and extracurriculars. They have pushed themselves, and their successes are well deserved. Because they are so close in age, they are almost twins, and the support and motivation they provide for each other is second to none and something I am extremely proud of. As my wife and I are now one year away from being empty-nesters, this is something we still have not given much thought to. As a family, we have tried to always keep busy at all times. In fact, we just got back from a family vacation to Gatlinburg, Tennessee. We enjoyed whitewater rafting and fly fishing with the kids. Our daughter will be vacationing in Puerto Rico with a friend for a few days before heading off to college, too. For many years, both kids kept us on the go traveling for sports, and I imagine once both kids are out of the house, my wife and I will continue to travel and maintain the on-the-go lifestyle we have grown accustomed to. Our lives will surely be very different than they were with two kids under the roof, but keeping busy will make the transition a bit easier. While this back-to-school year is slightly emotional and will be a big change for the whole family, I am thrilled as I look forward to my children’s experiences and accomplishments and many more “proud dad” moments to come!

Peyton will be attending Florida Gulf Coast University where she is in the honors program and studying political science, hoping to go to law school. For his senior year, Bo has a fairly packed schedule with AP classes, football, and weightlifting. I am also proud to say that he is the president of the English Honors Society at his school. I feel very fortunate that Peyton will only be 2 1/2 hours south of us at college because many feelings and emotions came along with her graduating high school this past spring. As a parent, it is always comforting to have your kids close. By the same token, it is a little nerve-wracking as she has been purchasing things to decorate her dorm, sending me on an emotional roller coaster. Thus far throughout my children’s school careers, to set them up for success, it has been very important for my wife and me that they stay involved in something, no matter what it is. Staying at home playing video games all day is not an option. For instance, this past summer, Bo had rigorous football training to prepare for this year’s season. At the end of the day, grades are everything, and they need to do the best that they can do. You can blow your knee out playing sports, but eventually, you need to fall back on your education. We have hammered this home with Peyton and Bo.

“You can blow your knee

out playing sports, but eventually, you need to fall back on your education.”

-Matt Welch

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If you’re the parent of a new driver, the experience comes along with a whirlwind of emotions. Sure, hitting the road for the first time is thrilling and the sense of freedom and control is captivating, but only if it is done safely! According to the National Highway Traffic Safety Administration, roughly 2,500 teens died in motor vehicle crashes in 2018, and about 297,000 teens were injured as a result of motor vehicle crashes in 2018. If your child is gearing up to get behind the wheel, there are some key safety concepts to be aware of. Parents, we know handing your child the keys is tough. Discussing some safety points with your child can help to put you at ease. I’M NEWHERE! Safety a Priority for New Teen Drivers

It’s Time to Diversify Your Banking! 5 REASONS NOT TO KEEP ALL OF YOUR MONEY IN ONE PLACE

You’ve probably heard the expression, “Don’t put all of your eggs in one basket.” But what about “Don’t put all of your dollars in one bank”? Banking at a single institution is the default for most people, but just because something is the typical strategy doesn’t mean it’s the best one for you! Here are five reasons to consider taking the road less traveled.

1. Different banks have different perks. Credit unions are member-run nonprofits and often don’t have minimum balance requirements. Traditional banks have cutting-edge financial technology and more loan options. Some banks offer high-yield checking accounts while others don’t, and online banks can have interest rates on savings accounts up to 15 times higher than brick-and-mortars. By banking with more than one institution, you can get the best of both (or three!) worlds. 2. You’ll have a backup if one bank fails. According to Bankrate, 511 U.S. banks failed between 2009 and 2020. That’s not nothing! If your bank isn’t insured by the Federal Deposit Insurance Corp (FDIC) and it fails, you could lose your entire balance, so diversifying your accounts (or choosing only FDIC-insured banks) is a good backup measure. 3. You can make sure ALL of your money is insured. The FDIC only covers up to $250,000 per depositor, per bank. So, if you have high-value accounts, depositing with multiple banks can ensure all of your money is covered. 4. The more accounts you have, the more withdrawals you can make penalty-free. Many money market and savings accounts have limits on how many times you can pull money out each month. If you bank with several institutions, you can make a few withdrawals from each of them, stay under the limits, and avoid fees. 5. You’ll have access to more banks and ATMs. Do you travel across your city, state, or the country regularly? If you do, it can be beneficial to bank with several institutions so you’re always close to an ATM or bank branch. For example, you may want to use a local credit union at home for the member benefits but bank with a national bank for out-of-state emergencies.

TAKE A BREAK

SOLUTION

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Distracted Driving Because teens are inexperienced behind the wheel, they are more susceptible to being distracted while driving. Distraction comes in many forms: radio, cellphone, passengers, and more. Be sure to stay focused on the road at all times — breakfast can wait! Any distraction that takes place is a dangerous distraction. Always put the safety of yourself and others above anything else! Rules of the Road Ensure that before hitting the road you are up to speed on ALL rules of the road. Know where you can lawfully make rights on red. Brush up on who has the right of way in particular situations. Be aware of what different road signs mean. Know the rights of pedestrians. The list goes on and on! Impaired Driving No matter your age, impaired driving is NEVER acceptable and is a recipe for disaster. If you are ever in a situation where you are under the influence of drugs or alcohol, put the keys away and find a safe ride home. Calling a parent, Uber, or Lyft are some great and safe options.

5 Tips for Your Next Affordable Getaway

Are you excited to explore the world again? Or maybe you’ve just gotten back from your latest vacation! In either case, the economic challenges of the pandemic might require travelers to plan their trips a little smarter. Here are five tricks to do just that.

1. Consider your budget while choosing your destination.

Watch Your Speed Especially in neighborhoods and parking lots, be aware of your surroundings and speed. Taking it slow on major roads also helps to avoid potentially dangerous situations because speed is a large contributing factor to many accidents. One advantage of driving more slowly is better gas mileage! The bottom line is to always put the safety of yourself and others above anything else and keep your eyes on the road and hands on the wheel at all times! Safety first!

Any destination heavily impacted by tourists is going to be more expensive to visit. So, consider taking a tour through various French countryside towns instead of Paris! Not only could it be more culturally immersing, but it may even be more relaxing and less stressful than visiting a dense area. 2. Sign up for Scott’s Cheap Flights. One of the most important parts of booking an affordable vacation is booking it at the right time. Scott’s Cheap Flights will track all the cheapest flights at an airport of your choice — you’ll get over 50%–75% savings on highly rated airlines. This will get you stress-free travel for a much lower price! 3. Travel in a group. If you travel with friends, your expenses become a lot more manageable. Let’s say you and a partner travel with two other couples — renting a swanky cabin at $200 a night will only cost around $33 per person. Plus, you will create some amazing memories together! 4. Plan your meal budget ahead of time. Looking forward to eating certain dishes? Find local menus and prices to ensure you don’t spend more than you planned. If you want an authentic and homestyle culinary experience, consider signing up for a peer-to- peer dining experience through Traveling Spoon or Bon Appetour, which is tax-free as well! 5. Consider volunteering for vacation. Want to go on a self-discovery trip? Why not cut your expenses in half by volunteering? For example, Habitat for Humanity offers a nine-day Mexico trip for $1,200 with lodging, food, and activities included. You’ll get to build structures and create something permanent for the local community.

Easy Foil-Grilled Sausage and Vegetables Dinner is ready in 30 minutes with this easy, seasonal August sausage and vegetable bake.

INGREDIENTS

DIRECTIONS

• • • • • • • • • • • • • •

4 sausage links of your choice

1.

Preheat your grill to medium heat or your oven to 425 F.

1 lb green beans

1 red bell pepper, diced 1 yellow bell pepper, diced

2. In a large bowl, add all of the

ingredients and mix well. Divide into four equal portions. 3. Prepare four 16-inch pieces of foil and place a portion in the middle of each section. Wrap each foil piece tightly and avoid holes. 4. Grill each foil packet for 20 minutes, flipping halfway through. You can also bake each packet for 20 minutes at 425 F.

1 red onion, diced 1 zucchini, diced

1 yellow summer squash, diced

3 tbsp olive oil

2 cloves garlic, grated

1 tbsp thyme 1 tsp oregano

1 tsp basil 1 tsp salt

1 tsp crushed red pepper (optional)

Traveling on a dime is no sweat with the right tools. Best of luck, traveler!

Inspired by NutmegNanny.com

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17221 CAMELOT CT., STE. 101 LAND O LAKES, FL 34638

INSIDE

1 A Big Change 2 5 Reasons to Diversify Your Banking 2 Teen Driver Safety 3 Easy Foil-Grilled Sausage and Vegetables 3 Want to Save on Your Next Vacation? 4 Insurance for Teens

What’s the Scoop on Insurance? AND HOW TO REDUCE THE RATES FOR TEEN DRIVERS

With your kids growing up, getting behind the wheel, and heading off to college comes the need for insurance. You may wonder, “What types of insurance does my child need and how can I get the lowest rates?”

Most insurance carriers offer discounts for auto insurance when your teen maintains good grades in school. Some carriers will also lower insurance rates for having completed safety courses, which is also a great tool for your teenager to brush up on driving skills. Renters Insurance If your teenager is heading off to college and plans to live off campus, they will need some type of renters insurance. Renters insurance will protect your teen, their property, and their living arrangements after a covered loss. Renters insurance offers these three types of coverage: personal property, liability, and additional living expenses. Personal property coverage covers what it may cost to replace the property that is lost up to the limit outlined in your specific policy. Liability insurance covers the cost that may be incurred if you accidentally damage someone else’s property up to the limit in your policy. Additional living expenses covers additional costs that are incurred, such as hotel bills, if your primary residence is uninhabitable. For assistance in choosing a policy best suited to your teenager, the professionals at The Welch Group are ready to assist you in finding the best fit! Call us today for more information or for help with your most pressing teen-related insurance questions.

Teen Auto Insurance You likely are aware of the hefty prices that come with adding a teenager to your auto insurance policy. Teenage boys driving trucks or SUVs can be expensive additions to your insurance policy! But there are some ways to save. In theory, any type of sedan (Honda Civic, Honda Accord, Toyota Camry, etc.) is typically less expensive to insure when compared to a 4x4 vehicle. This is because insurance carriers are aware that 4x4 vehicles are typically used for off-roading and towing, and these are situations where the probability for damage is higher.

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