June 2018
Greetings!

With summer upon us, saving and budgeting can get away from us. The average American spends nearly $2,000 on a summer vacation, according to Allianz Travel Insurance Vacation Confidence Index, taking a chunk out of the household budget. However, it's ok to take that trip if you've planned and budgeted for it. It's the everyday spending that tends to spiral out of control during the summer months as credit cards swipe and tracking of spending goes to the waste-side.

We want you to enjoy the summer, so here are some tips to keep your budget adrift while still having fun.

  • Enjoy free activities: Take advantage of the free activities around your local community. Check out programs at the library (and see if they have coupons for nearby activities!), take a bike ride or picnic in the park, and be sure to look up community listings for complimentary events.
  • Take advantage of discount passes. Many museums, zoos, gardens, etc. offer free or reduced-priced admission on certain days of the week. Be sure to research before you go to see if you can save money on a fun day out.
  • Entertain on the cheap. Host a pot-luck instead of a fully-supplied backyard barbecue. You still enjoy a fun evening with friends and family, but at a lower cost. And best of all, everyone gets to try something that someone else brought. Hey, you may even discover a new recipe!
  • Have a staycation. If a pricey getaway isn't in the budget this year, have a staycation instead. Find a local hotel and enjoy the amenities while taking a break from the every day tasks, but not breaking the bank. Or, if you're up for it, pitch a tent in the backyard and roast some marshmallows over the fire pit.

We hope your summer is chalk full of fun!

As always, it's a pleasure to serve your family.
The Month In Brief
In May, investors were left to interpret mixed geopolitical and financial signals. The historic U.S.-North Korea summit was on, then off, then possibly on again. An apparent truce emerged in the U.S.-China tariffs battle, but it did not last. Oil rallied, but then prices fell. Federal Reserve policy meeting minutes indicated central bank officials would accept above-target inflation for a while. Other economic signals were clear: new and existing home sales were down, consumer confidence was back up, and consumer spending was strong. In the end, the markets took all this in stride – the S&P 500 rose 2.16% for the month. 1
    
Domestic Economic Health
On May 19, Secretary of the Treasury Steven Mnuchin told the media that the U.S.-China trade war was “on hold.” Both nations agreed to refrain from imposing new import tariffs, and China announced plans to lower taxes on imported cars and trucks from 25% to 15%. Ten days later, the U.S. surprised economists, journalists, and investors by electing to proceed with the 25% tariffs on $50 billion of Chinese imports it had proposed in April. The Chinese government indicated it was ready to institute tariffs in response. On May 31, the Trump administration said that it would move forward with its planned steel and aluminum tariffs against Mexico, Canada, and the European Union, as well as extend short-term exemptions no further. Mexico and the E.U. quickly announced retaliatory taxes for U.S. imports. 2, 3


Financial Summer Camp

Is summer camp or a summer job in your future? We like to think that work is similar to school and retirement is a fun summer camp. We want to make sure you will be attending the summer camp of your dreams rather than holding down the fort with a summer job. In this special report, we've broken down a few options for how you might spend your retirement if you’ve worked hard, saved your money and created a financial plan that will allow you to go to the summer camp of your choice.
My two children are struggling to make payments on their student loans. Should I just take the money out of my retirement plan and pay them off?
I am a business owner with around $7 million of net worth. I heard with the new tax law changes you can now pass over $10 million without being subject to estate taxes. Has the need for estate planning been eliminated? What else is estate planning about?
Listen: Get Your Hearing Checked

If "what," "pardon me," or "huh" are increasingly becoming part of your vocabulary, you might be suffering hearing loss. 

If you are, you don't have to feel isolated or alone, and you don't have to live with it.

  • Nearly 1 in 4 Americans between 65-74 have hearing loss.
  • Nearly 1 in 2 Americans over 75 suffer hearing loss.

While hearing loss may come with age, noise may also damage your hearing. More than 10 million Americans under 70 have hearing loss from loud noise. 

Health experts advise those who think they may have hearing loss to discuss their condition with their doctors. Your doctor may refer you to an audiologist or an otolaryngologist. An otolaryngologist specializes in diseases of the ears, nose, mouth, and throat.

Hearing loss can produce the following problems:

  • Inability to hear doorbells or alarms
  • Missing directions or warnings
  • Feeling isolated or depressed

If you suffer from hearing loss, you can learn ways to make life easier. Contact a health expert today to discover your treatment options.

Tip adapted from Office of Disease Prevention and Health Promotion
Flourless Fudge Cake

Yields: 12

Ingredients: 

  • 1 cup (2 sticks) unsalted butter, plus more for pan
  • 8 ounces bittersweet chocolate, chopped
  • 1¼ cup sugar
  • 6 large eggs
  • 1 teaspoon pure almond extract
  • 1 cup unsweetened cocoa powder, plus more for dusting
  • Whipped cream, for serving

Directions: 

  1. Heat the oven to 350°F. Lightly grease and lay parchment in 9-inch springform pan.
  2. Melt butter and chocolate in medium saucepan on medium-low, stirring until it is combined.
  3. Cool slightly after removing from heat, 5 minutes. 
  4. Mix in sugar and combine.
  5. Mix in eggs, 1 at a time. 
  6. Add almond extract and cocoa powder, and mix until smooth. 
  7. Put batter in the prepared pan. Bake the mix until it is set in the center, 25-28 minutes.
  8. Cool the cake in the pan on a wire rack, 10 minutes.
  9. Remove the cake from the pan to let it cool completely.
  10. Sprinkle cocoa dust and serve with whipped cream.

Recipe adapted from Good Housekeeping
Monthly Riddle - Don't miss out on a chance to win LUNCH ON US!

Congratulations to last month's winner, Ken Glover!

June Riddle: 
What dresses for summer and sheds in the winter?

Last month's riddle: 

How many cats can you put into an empty box?

The answer to last month's riddle: One. After that, the box isn't empty anymore.

Email   us with your answer; if it's correct, you'll be entered into a drawing amongst other correct winners. We will announce the winner in next month's newsletter, so keep those answers coming. We will draw one lucky winner to win lunch on us! 

Monthly Quote

"Never put off ‘til tomorrow what you can do today.”
-  Lord Chesterfield

Fun Facts | Interesting, Amazing, Strange, Funny, and Weird

Even though Amazon made a recorded $5.6 billion in profits in 2017, the company paid $0 in federal taxes, thanks to a number of tax credits and breaks for stock options.
-FiveThirtyEight

Due to soaring housing prices, many people are moving away from the San Francisco Bay area. Because of this, a one-way U-Haul rental from San Jose to Las Vegas now costs roughly $2,000, compared to just $100 for a truck going in the other direction.
-Newsweek.com

On average, every day, we generate 230 million tweets, 300 billion emails, and load about 100 terabytes of data onto Facebook.
-Abundance360

At a national average of $3.23 a gallon, retail milk prices are lower now than 10 years ago.
- CNBC.com

The U.S. fertility rate hit a record low in 2017, with 60.2 births per 1,000 women of childbearing age, dropping below the “replacement” fertility rate of 2.1 births for each woman to 1.7 births.
- The Boston Globe

Due to escalating tuition and easy credit, the United States has 101 people who owe at least $1 million in federal student loans. The number of those who owe at least $100,000 has risen to around 2.5 million. 
- The Wall Street Journal

The average price of gas is up 31% since last Memorial Day.
- CNN
AS FEATURED ON:
The Brian Tracy Show
Jack Canfield's Hollywood Live
Beacon Wealth Management
607 East Pike Street, Clarksburg, WV 26301
304.626.3900

Securities offered through Cambridge Investment Research, Inc., a broker-dealer, member  FINRA / SIPC . Advisory services offered through Cambridge Investment Research Advisors, a Registered Investment Adviser. Beacon Wealth operates independent of Cambridge.