August 2019
Four Ways the Super Rich Manage Their Wealth

The self-made Super Rich—people with a net worth of at least $500 million that they built through their own hard work—often possess a treasure trove of knowledge, insights and actionable strategies that the rest of us can adopt in our own lives to enhance our success.

Here are four ways the Super Rich manage their wealth. 

  1. Work with top-of-the-line experts
  2. Make sure your experts are focused on the human element 
  3. Make sure you understand what you’re agreeing to 
  4. Trust but verify 

Ultimately, the key is to adopt the best practices of the Super Rich if you seek to join their ranks—or even to just become significantly wealthier than you are today.

The message is clear: To enjoy the same results the Super Rich enjoy, you have to think and act like the Super Rich. Applying the above four lessons as you work with your financial and legal professionals can potentially help you maximize the probability of achieving all that is most important to you. 

To read the full article and go more in depth with the Super Rich, click on the link below.


Roth IRA versus Traditional IRA: Which is Better for You?

Roth IRAs tend to get a lot of hype, and for good reason: because you pay the taxes up front, your eventual withdrawals (assuming you meet the age and holding-period requirements—more on these below) are completely tax-free.

While we like “tax-free” as much as the next person, there are times when a traditional IRA will put more money in your pocket than a Roth would.

Example. Say that your tax rate is 32 percent and that you will invest $5,000 a year in an IRA and earn 6 percent interest. Should you put the $5,000 a year into a Roth or a traditional IRA?

Say further that neither you nor your spouse is covered by a workplace retirement plan, so you can contribute the $5,000 a year without worry because it’s under the contribution limits. If your income is too high for the Roth IRA, you make the $5,000 contribution via the backdoor.

Traditional IRA
If you invest the $5,000 in a traditional IRA, you create a side fund of $1,600 ($5,000 x 32 percent). On the side fund, you pay taxes each year at 32 percent, making your side fund grow at 4.08 percent (68 percent of 6 percent).

Roth IRA
Roth contributions are not deductible; this means no side fund, so your annual investment remains at $5,000.

For the Roth, your marginal tax rate at the time of your payout doesn’t matter because you paid your taxes before the money went into the account. The whole amount is now yours, with no additional taxes due.

But for the traditional IRA, your current tax bracket matters a great deal. You have taken care of the taxes on the side fund annually along the way, but the traditional IRA (both growth and contributions) is taxed at your current marginal tax rate at the time you cash out.

Click the link below to see a visual of this, along with the rate of growth. More tax tips included!


A recent study shows that Social Security funds are going to dry up by 2035. How much truth is there to that? What are some things people can do to make sure they are prepared if it does happen?
Paying off your mortgage vs. saving for retirement: which is more important?
Congratulations, Jim Tucker!

Join us as we celebrate the retirement of Jim Tucker, along with his wife Patsy. As of August 1, 2019, Jim is officially retired. He worked for 38 years as Manager of Gas Operations at Dominion.

In retirement, he plans on camping, working on his 74 acre farm, and traveling down south to Florida. Wishing you all the best, Jim!
Low-Impact Exercises for Healthy Joints

Protecting your joints is important for healthy movement throughout your life, and there are many ways to stay active without causing injury to your knees, hips, or ankles. Here are some of our favorite, low-impact exercises:

  • Swimming - Not only is swimming a low-impact exercise, it's also a full-body workout. Hop in the pool and do some laps or just splash around for fun. Either way, it's great for exercising and staying cool in this hot August weather.
  • Kickboxing - It sounds intense, but kickboxing is actually a low-impact exercise that's easy on your joints. If possible, modify your workout to focus more on the cardio movements of the sport and not the combat aspect.
  • TRX Exercises - The TRX strap is the strap you often see hanging from a bar at the gym. This simple accessory makes it easy to do lunges, pullups, pushups, and squats, without putting pressure on your joints.
  • Cycling - Cycling, either indoors or outdoors, is a great exercise and easy on your knees. Find a spin class near you, or get outside and explore a local bike path.

Tip adapted from Healthline:
One-Pan, Cheesy Potato Casserole

Serves 6-8

Ingredients: 

  • 1 lb. of uncooked breakfast sausage without casings
  • 1 onion
  • 1 bell pepper
  • 1 tsp. of salt
  • 20 oz. of frozen hash browns
  • 10 eggs
  • 1 cup milk
  • 2 cups of cheddar cheese, shredded
  • A sprinkle of pepper
  • Optional: other toppings such as chives, mushrooms, spinach, etc. 

Directions: 

This recipe is great when you're on vacation and want to make breakfast for the whole family, but have a limited kitchen. In addition, this simple casserole can be baked ahead of time and stored overnight, making it the perfect, go-to breakfast on busy vacation mornings.

  1. Preheat the oven to 375° F. Lightly grease a 9" x 13" baking dish (or whatever you can find in your hotel kitchen!).
  2. Cook the sausage in a large skillet.
  3. Add the toppings, stirring occasionally. Cook until softened, but not overdone.
  4. Transfer the sausage and veggie mix to the baking dish, then add the hash browns and combine. Spread into an even layer.
  5. Whisk the eggs, milk, salt, and pepper, then pour over the veggie and meat layer. 
  6. Bake until the top is golden brown, about 45 minutes. 

Recipe adapted from Kitchny:
The Brian Tracy Show
Jack Canfield's Hollywood Live
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Securities offered through Cambridge Investment Research, Inc., a broker-dealer, member  FINRA / SIPC . Advisory services offered through Cambridge Investment Research Advisors, Inc. a Registered Investment Adviser. Beacon Wealth operates independently of Cambridge.