Boerne Business Monthly – March 2022

Volume 14, Issue 09: March 2022

Luxury Bath & Kitchen Remodeling

MAKE YOUR HOME AN EXPERIENCE!

AVOIDING IDENTITY THEFT

SPRING BREAK FUN IN BOERNE

LOCAL NEWS & INFO

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boernebusinessmonthly.com

3

hey y'all

I

I love March! Not only do we get to say goodbye to winter as we welcome spring, but March just happens to house my favorite day of the year – the start of Daylight Savings Time!

With spring often comes the urge to “spring clean,” update and even renovate. If your spaces are feeling a little outdated or inefficient, this month’s cover feature, Ballroom Baths and Construction Design, can surely help you out. As a design-build firm, owner Trent Teat and his team can handle the entire project from concept to completion. Read all about them on page 16.

The March Calendar of Events has lots of fun things to do in and around Boerne. If you are looking for a few more ideas, be sure to check out our article on Spring Break fun. These great local activities are sure to keep the kids busy this spring break, but are great to do all year round.

This issue the Ribbon Cutting section is filled to the brim.

From the looks of it, we have a lot of new businesses coming to Boerne. Another new business we give a shout out to is Pat & Kim Bakery. This husband and wife duo are cooking up some unique cookie flavors... and they offer local delivery!

Have you or someone you know ever been the victim of

Boerne Business Monthly is published by Distinct Media, LLC, copyright 2022. Reproduction is strictly prohibited without prior consent of the publisher.

Opinions expressed in Boerne Business Monthly are those of the writers or sources and do not necessarily represent the views of the publisher, nor do they constitute the endorsement of products or services herein. Although the information and recommendations in this publication have been compiled from sources believed to be reliable, Boerne Business Monthly makes no guarantee as to, and assumes no responsibility for, the correctness, sufficiency or completeness of such information and recommendations.

identity theft? The number of people affected by this is shocking. Turn to page 8 as ADKF advises us on how to avoid being a victim and what to do if you are.

When planning for retirement the mindset is often save, save and save some more. But how do you switch gears once you actually retire?

Many times people find it hard to spend the nest egg they worked so hard to build. Karl Eggerss of CapTrust shares the importance of enjoying a life well lived in our retirement years in the article Striking a Balance on Spending on page 30.

I hope you all enjoy this March issue of BBM and have a great spring!

Lauren Stumberg Owner/Publisher

INTERESTED IN RECEIVING BBM BY MAIL, EMAIL OR BOTH? Send us your info to info@boernebusinessmonthly.com

Let’s Be Friends!

Folllow Us @boernebusinessmonthly 4

B oerne B usiness M onthly | March 2022

MAKE YOUR HOME AN EXPERIENCE!

24 Years in Business 10 Years in Texas HHHHH Trent remodeled our entire home and did a 5 star job!!! He was professional, quick and the remodel turned out better than we even imagined it would!!!!!

- Alexa H.

Luxury Bath & Kitchen Remodeling FREE KITCHEN or BATH DESIGN including selections with an award winning designer.

Valued at $7,997 Offer Ends April 1, 2022 - Offer applies to full kitchen or bath remodel

Before

After

WWW.BALLROOMBATHS.COM (830) 755-6444

EMPOWERING SUCCESS Confidential Career Interviews Call (210) 710-6601

16

March

CONTENTS

08: security

Identity Theft

by Roland Miller, CPA – ADKF

Robin McCall Dallenbach

10: calendar 12: explore

Spring Break in Boerne: Fun Things to Do Right Here at Home

16: cover feature

Jim Campbell

Renee Campbell

Kathy Cloud Wiley Cloud Owner/Brokers

BROKER MOBILE: (325) 347-7693 TEXASHILLCOUNTRYREALTY.COM

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B oerne B usiness M onthly | March 2022

16

22: fun facts 24: new business Pat & Kim Bakery

28: ribbon cuttings 30: finances

Striking a Balance on Spending courtesy of Karl Eggerss – CAPTRUST

Ballroom Baths & Construction Design: Make Your Home an Experience

Personal • Commercial • Bonds www.wspinsurance.com

New Office Location! 179 S. Main St. – Boerne, Texas 78006

Barrett Houser | (830) 443-1950

The Rivers have combined over 60 years of experience The Rivers offer objective information and opinions through their many years of professionalism.

Act as an expert guide

The Rivers Team will know what’s required in the market, help you negotiate diligently, avoid delays and costly mistakes.

Stand in your corner during negotiations

over

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From price to repairs to possession date, The Rivers know it is all about negotiating on your behalf.

We love our people

The Rivers continue to uphold their outstanding customer service by having an entire team including marketing, legal advisors and transaction coordinators to ensure a seamless experience.

R E A LT O R S ® 711 S. Main Street Boerne, Texas 78006 C (210) 393-3231 theriversteam@phyl lisbrowning.com www.theriversteam. com www.phyllisbrownin g.com

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security

IDENTITY THEFT

Y

by Roland Miller, CPA – ADKF

You may have seen or heard advertisements for identity theft protection. Usually, the advertisement or commercial will use humor to make a point. If you have become a victim of identity theft, you can agree that it is no laughing matter.

According to the Federal Trade Commission, in 2020, there were nearly 1.4 million reports of identity theft reported on the FTC’s IdentityTheft.gov website. The FTC goes on to state, “Of the identity theft reports received in 2020, 406,375 came from people who said their information was misused to apply for a government document or benefit, such as unemployment insurance. That represents a tremendous increase from 2019, when the number was 23,2131.”

Due to the COVID-19 pandemic, people are at home and online more than ever. Business is not conducted face-to-face in a building, it is now on platforms such as Zoom and Microsoft Teams. Educational classes, from elementary to Doctorate programs, are taught online.

Instead of going to a restaurant to eat, you order online or through a phone app. You can even order your groceries and have them delivered!

With this fact, it should be no surprise that identity theft is on the rise. Either the scammer is pretending to be someone you know or trying to get access to your information. Consider all the personal data that is located on social media or on your laptop, tablet, or smart phone.

A criminal only needs to obtain a few items of that information and they can begin stealing your identity.

Lessen the Risk of Identity Theft

There is no guaranteed way to prevent having your identity stolen or compromised. If it does happen, there is no panacea to make it better. Shielding your private information with no risk of a breakdown is almost impossible these days. There are some steps that you can take to lessen the chance of your identity being compromised or stolen2.

• Keep your social security number secure. Don’t carry your social security card in your wallet. Only provide your social security number when necessary.

• Don’t share personal information (birthdate, social security number, bank information) just because someone asks for it.

• Collect mail every day.

• Review your credit card and bank statements. Compare your receipts and check for any unauthorized transactions.

• Shred receipts, credit offers, account statements, and expired credit cards. Fraudsters will “dumpster dive” to obtain your personal information from these items.

• Review your credit reports at least once a year. Check for accounts that you either did not open or do not recognize. You can order one credit check per year for free from Annualcreditreport.com.

The IRS and Identity Theft

One of the acts that fraudsters perform is preparing and submitting tax returns with stolen personal information. Tax-related identity

1. https://www.ftc.gov/news-events/press-releases/2021/02/new-data-shows-ftc-received-2-2-million-fraud-reports-consumers 2. https://www.usa.gov/identity-theft#item-214444 3. https://www.irs.gov/newsroom/taxpayer-guide-to-identity-theft 4. https://www.irs.gov/newsroom/tax-security-tip-get-an-ip-pin-to-help-stop-identity-thieves

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B oerne B usiness M onthly | March 2022

theft occurs when someone uses stolen personal information, including social security numbers, to file a tax return to claim a fraudulent refund.

There are signs that it is possible that a person has become a victim of identity theft. These include but are not limited to3: • You receive a letter from the IRS inquiring about a suspicious tax return that you did not file.

• You cannot electronically file your tax return due to a duplicate social security number.

• You receive a tax transcript in the mail that you did not request.

• You receive a letter that an IRS online account was created in your name.

• IRS records show that you earned income from an employer that you never worked for.

The IRS has improved their surveillance to try and catch fraudulent returns before they are processed. In these instances, the IRS will mail out a letter requesting that you verify your identity.

If you do receive one of these letters, follow the instructions and call the IRS.

Actions You Can Take

With some commonsense actions and a little awareness, you can lessen your chance of becoming a victim of identification theft. But what happens if you do become a victim? The important thing is to remain calm. These are four suggestions to begin the path of reclaiming your identity: 1. Call companies where you know fraud occurred.

2. Place a fraud alert on your credit reports.

3. Report the identity theft to the Federal Trade Commission.

4. You may even need to file a report with the police department.

If you do become a victim of identity theft, you should talk to your financial institutions to determine how best to avoid further damage.

This may include closing and reopening accounts, even ones that have not been affected or compromised. It can be a tedious process but a necessary one to stop the criminal from having control over your identity and money.

An IRS tax security tip is to request an Identity Protection PIN (IP PIN). The IRS now allows anyone who has a social security number or Individual Taxpayer Identification Number to apply for an IP PIN. Previously, you had to be a victim of identity theft or fraud to request one.

The IRS explains, “an Identity Protection PIN is six-digit number eligible taxpayers get to help prevent their Social Security number or Individual Taxpayer Identification Number from being used to file fraudulent federal income tax returns. This number helps the IRS verify a taxpayer's identity and accept their tax return.4” At ADKF, we have a trained group of professionals in our Department of Tax Controversy that offer a variety of services that can assist you if you become a victim of identity theft. If you have any questions about identity theft or the IP PIN program, please don’t hesitate to contact us at (210) 829-1300. BBM ADKF is the largest, locally owned public accounting firm in San Antonio, Texas, with branch offices in Boerne and New Braunfels.

We have been serving our community since 1991. We are a full-service CPA firm dedicated to providing a broad range of tax, audit, accounting, tax controversy, valuation, and consulting services with superior customer service to help our clients meet their goals and objectives.

Roland Miller, CPA

Through the ups and downs, we are with you all the way WWW.ADKF.COM

Meet Rachel! She celebrates her 6-year Anniesversary in March. As a pharmacist, she manages the day-to-day at Annie’s. Rachel is a certified hormone replacement specialist. Rachel works with your provider to help find the perfect therapy for you.

She can help you restore gut balance by testing your food sensitivities and by recommending supplements.

Rachel just welcomed her second daughter, Quinn, on the infamous 2-22-22! When she is not working at Annie’s, she enjoys fishing at the coast with family. Rachel will return to Annie’s at the end of May after her leave.

830-981-4774 AnniesRX.com 211 S. Saunders St. Boerne, TX 78006

“The Only Accredited Compounding Pharmacy in Kendall County!” boernebusinessmonthly.com

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March THROUGH APRIL 13 AARP TAX ASSISTANCE Mondays - Wednesdays 10:00am to 4:00pm Patrick Heath Public Library Community Room 451 N. Main – Boerne AARP volunteers will be on hand to assist with taxes. Please call the Library at (830) 249-3053 to schedule an appointment.

The AARP volunteers will only be seeing people by appointment. This service is free!

Those being helped by the AARP volunteers will need to wear masks.

EVERY SATURDAY OLD JAIL MUSEUM TOURS 10:00am to 5:00pm 208 E. San Antonio Ave. – Boerne Tour the Old Jail Museum and enjoy its unique exhibits. The Kendall County Historic Jail was constructed in 1887 and served for a century as the county jail. In recent years, the Friends of the Kendall County Historic Jail (FKCHJ) have painstakingly restored the space, bringing it back to life as a one-of-a-kind museum of Kendall County history.

Calendar of Events

$5- Adults; Free- Children under 10, Veterans, and Law Enforcement MARCH 1 GBCC RIBBON CUTTING FOR TWO MEN AND A TRUCK 11:30am to 12:00pm 7634 Reindeer Trail – San Antonio MARCH 4 GBCC RIBBON CUTTING FOR FREE ROAM BREWING COMPANY GRAND OPENING 1:30pm to 2:00pm 325 S. Main St. – Boerne MARCH 8 CITY COUNCIL MEETING 6:00pm to 8:00pm Livestream Meeting See ci.boerne.tx us for link to meeting.

MARCH 10 GBCC RIBBON CUTTING FOR BENEDICTINE SISTERS 60TH ANNIVERSARY 10:00am to 10:30am 216 W. Highland Drive – Boerne

GBCC RIBBON CUTTING FOR PROMOTION PHYSICAL THERAPY 11:30am to 12:00pm 904 E. Blanco – Boerne GBCC RIBBON CUTTING FOR SUBURBAN BUILDINGS 1:30pm to 2:00pm 635 TX-46 E. Suite 202 – Boerne GBCC BOERNE AFTER 5 MIXER: HOSTED BY BENDING BRANCH WINERY 5:00pm to 7:00pm Bending Branch Winery 142 Linder Branch Trail – Comfort MARCH 12 SECOND SATURDAY AUTHOR SIGNING 11:00am to 1:00pm 451 N. Main – Boerne Chaplain Jenny Russell will be on hand signing copies of her book Holy Feminine Wisdom: Intimate Stories of Women's Spiritual Journeys.

FAST FACTS ON BLOOD CLOTS

continued on page 20

SCAN TO LEARN MORE

MARCH IS

DVT AWARENESS MONTH ARE YOU OR A LOVED ONE AT RISK?

An often “silent killer”, Deep Vein Thrombosis (DVT) is a type of blood clot, commonly occurring in the legs. DVTs can cause serious medical problems, or turn deadly.

DVT risk may increase if you are: Overweight

Sit for prolonged periods

IF YOU SAID YES TO ANY OF THE ABOVE

Over age 65

Have varicose veins, heart or lung disease

IT’S TIME FOR A VEIN CHECK!

PVA is San Antonio’s leading experts in vascular medicine. Our board-certified physicians are highly-specialized at treating vein and artery problems, circulatory conditions and much more.

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B oerne B usiness M onthly | March 2022

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explore

SPRING BREAK

M

in Boerne

March is here and that means Spring Break! If you aren’t headed out to the beach or squeezing in one last ski trip there is still plenty of fun to be had right here at home!

THE OLD JAIL MUSEUM

The Kendall County Historic Jail was constructed in 1887 and served for a century as the county jail. In recent years, the Friends of the Kendall County Historic Jail (FKCHJ) have painstakingly restored the space, bringing it back to life as a one-of-akind museum of Kendall County history. Explore the jail cells, learn about the Fabulous Topperweins, Apelt Armadillo Farm, the Bat Bomb and so much more.

208 E. San Antonio Avenue | thejail.org

BOERNE CITY LAKE PARK

There is plenty of fun to be had at the Boerne City Lake! The park includes amenities such as a fishing pier, picnic units with grills, a playground, volleyball court, 9-hole disc (frisbee) golf course, boat dock, butterfly garden and more!

1 City Lake Road – Boerne | boerneparks.com

CASCADE CAVERNS

Experience the mystery and wonder of Cascade Caverns with one of their cave tours such as the Daily Downunder Tour, the Adventure Tour or the Evening Flashlight Tour. Be sure to check the website, some tours may require advanced booking and minimum sized groups.

While you are there, explore the Gift & Rock Shop and the Gem & Rock Quarry where you can mine for unique minerals, rocks, gems and fossils!

Want to stay longer? Stay at the Cascade Caverns Campground and RV Park and see all that the 103 acres of native Texas habitat has to offer!

226 Cascade Caverns Road – Boerne (830) 755-8080 for group or campground reservations. cascadecaverns.com

HIT THE TRAILS AT THE CIBOLO NATURE CENTER

Inspiring people to achieve their life’s ambitions Prime Capital Investment Advisors is proud of our ability to provide our clients with full-service financial advice.

Your personal financial advisor will educate you on wealth building and preservation strategies based on your individual situation.

For more information about us and the investment services we offer, contact us:

616 E. Blanco, Suite 201-A / Boerne, TX 78006 (830) 816-5131 / PCIAWealth.com Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser.

PCIA: 6201 College Blvd., Suite 150, Overland Park, KS 66211. PCIA doing business as Qualified Plan Advisors (“QPA”) and Prime Capital Wealth Management (“PCWM”).

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B oerne B usiness M onthly | March 2022

From the serious trail enthusiast to families with young children and dogs, everyone can find something to enjoy. In all seasons, the trails offer new experiences and opportunities to connect with nature. The Cibolo Nature Center offers miles of trails for the enjoyment of all ages and abilities. Visitors can enjoy more than six miles of trails which cover a huge variety of natural landscapes. The full trail circle will take about 2 hours, but a variety of different loops and routes allow for a new adventure with every visit.

140 City Park Road – Boerne (830) 249-4616 | Cibolo.org

CAVE WITHOUT A NAME

Explore this natural, living cavern that some say is the most beautiful in Texas. The Cave is filled with spectacular formations and tours include the six major rooms of the cave which offer year-round 66 degree temperatures, easy walkways and brilliant lighting. Why not experience a concert in the Cave’s Throne Room? The combination of dynamic acoustics and nature’s natural backdrop offer a memorable experience. Check their website for the calendar of events.

325 Kreutzberg Road – Boerne (830) 537-4212 | cavewithoutaname.com

JOSHUA SPRINGS PARK

AND PRESERVE

Enjoy views of Joshua Creek lake and learn about the park’s natural resources and history while strolling along the granite surface trail. The extensive natural surface trail system provides walking or hiking enthiusiasts with varied ascents and descents through multiple ecosystems and habitats in this 400-acre park.

Bring field glasses and a birding book to identify numerous species seen in the preserve.

Covered and shaded picnic tables are placed along the banks of the lake and designated fishing areas allow anglers to test the waters. There are two age-progressive play areas to keep the kids entertained as well. There is also an enclosed dog park for small and large dogs.

716 FM 289 – Comfort kendallcountyparks.org

you can't buy

happiness, but you can

buy dirt.

– Luke Bryan

leave a legacy.

TAKE A STROLL ON RIVER ROAD PARK

This is one of the most popular park sites in Boerne. Located on the banks of the Cibolo Creek, it is home to numerous varieties of wild ducks and geese. Grab a bite to eat and a craft brew across the street at The Dodging Duck before you head over, or plan for a picnic at one of the parks picnic tables. While you are there, check out the Dietert Mill Dam and do some fishing on one of the fishing piers.

415 River Road – Boerne | boerneparks.com

KREUTZBERG CANYON NATURAL AREA

This park provides 117 acres along the Guadalupe River with 1700 feet of river frontage allowing access for river recreation, fishing, paddling, swimming, splashing and relaxing. Hike along three miles of multiuse paths. The River Loop leads to shady picnic spots and pleasing views of the Guadalupe. Texas geology is on exhibit here too with many karst and fossil features existing throughout the area. There are three wildlife observation blinds which provide excellent opportunities to observe and photograph butterflies, birds and wildlife. The Kronkosky Interpretive Garden is home to nature and

MARK BUKOWSKI

CHARLIE RIDDLE

Director of Land and Ranch

Director of Commercial Real Estate

c. 719.650.7012 mark@legacybrokergroup.com

c. 210.383.0007 charlie@legacybrokergroup.com

SPECIALIZING IN FINE TEXAS PROPERTIES, COMMERCIAL, EXOTIC, RANCH & LUXURY

L E GAC Y B R O K E R G R O U P. CO M historical education and a diverse collection of native and adaptive plants.

143 Mark Twain Drive – Boerne | kendallcountyparks.org

ARROWS ACTIVE PLAY PARK

An indoor playground and cafe that offers families a relaxed atmosphere with unlimited play time on thier three-story high playground. Also available, their Café serving delicious gourmet sandwiches, fresh baked goods, and specialty coffee. Free Wi-fi is also available if you have to work between having fun!

3 Kelton Avenue – Boerne arrowsactiveplayparkboerne.com BBM boernebusinessmonthly.com

13

LOOKING FOR THE NEXT PLACE TO CALL HOME?

W

Whether you are planning on buying, leasing, or selling a home, Bluebonnet has got you covered. It is our mission as a company to provide you with the best service and not waste your time and money. We are a full-service real estate company in Boerne that has been in business since 1989.

There is so much to appreciate about the City of Boerne because everything you could possibly want from a small Texas city is right in front of you. Whatever it is that you love to do, Boerne has it all. Fabulous shopping, delectable dining, original art and wonderful entertainment - what more could you want?

Let Bluebonnet Realty help you find your very own piece of paradise.

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14

Bluebonnet Realty Since 1989

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CAREY STEWART SUZANNE MCGINNIS BRETTE NICKELSON (830) 377-5227 (210) 551-2883 (210) 213-8222

(830) 816-2288 | BoerneTexasHomes.com B oerne B usiness M onthly | March 2022

FOR LEASE: NEW LISTING!

NEW LISTING!

214 ENGLISH OAKS CIRCLE – $2,950

3 bed, 2 bath, approx. 2338 s.f. owner pays for pest control and yard maintenance, 1 year lease required.

2112 PANIOLO DRIVE – $2,000

2 bed, 2.5 bath, open floor plan, great kitchen, great location.

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712 ALAMO ROAD, COMFORT – $1,700 Approx. 1600 s.f., 3 bed, 2 ba on approx. 4 acs.

PROPERTIES ARE MOVING FAST! IF YOU ARE LOOKING TO BUY, SELL OR LEASE YOUR HOME THERE IS A HIGH DEMAND

Give Us a Call - We’d Love to Help!

boernebusinessmonthly.com

15

photo by Ron Pritchett

cover feature

A

Luxury Bath & Kitchen Remodeling

MAKE YOUR HOME AN EXPERIENCE!

by Lauren Stumberg

As we evolve, our homes should too. A home that checked all the boxes ten years ago may not be meeting your needs today. Babies are born, children grow up and leave the nest, elderly parents move in, you are now working from home, or hey, let’s face it, styles and tastes change. Whatever it is, your home should not only be a reflection of the people that live in it, but also allow them to function optimally.

“So often homeowners put off remodeling a space because of fear of the unknown,” said Trent Teat, founder and CEO of Ballroom Bath and Construction Design. “Who can I trust? Where do I start? What will it look like in the end? We offer our clients

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B oerne B usiness M onthly | March 2022

answers to all of those questions, all wrapped up in a one-stopshop,” he added.

Having been in the remodeling industry for over 24 years, Trent and his team have created a business model that sets them apart in the remodeling space. According to Teat, “The distinguishing feature between our firm and many other design firms is our capacity to provide a complete range of project delivery services, thereby eliminating the client’s need to seek out multiple contractors for each phase of the remodeling process.” In fact, as a design-build remodeling company, Ballroom Baths and Construction Design offers the benefit of an integrative approach

that delivers design and construction services under one contract with a single point of responsibility. “Owners select a design-build to achieve the best value, while meeting schedule, cost and quality goals,” said Trent.

“They appreciate the ease of working with a company that can handle everything from design, material selection and construction.”

“SOME PEOPLE LOOK FOR A BEAUTIFUL PLACE, OTHERS MAKE A PLACE BEAUTIFUL.” – Hazrat Inayat Khan

Not only is Ballroom Baths & Construction Design an established company with a proven track record, but they offer free in-home consultations. Here Trent and his team discuss goals, budget and the overall vision for the project. Their team of designers can create a design layout, including architectural drawings 20/20 CAD 2D imaging and 3D video color renderings. Their state-of-theart design software and integrated design process ensures complete customer satisfaction before the construction process ever begins. Teat added, “Our designers take the customers shopping for material selection and then we are able to use those selections in our imaging. The customers have the privilege of seeing actual images of what the finished space will look like, rather than just having to visualize it in their mind. Then they can make adjustments and make sure everything is perfect before we swing that first hammer.”

It is this process that Trent says he enjoys the most. “For many years we operated without this piece of the puzzle, focusing on just the construction part of the project. Now to be able to actually see the project finished before

we even begin is just amazing. It also allows both us and the clients to eliminate the guesswork when it comes to the budget. Through careful planning during the design process, we can prevent the unnecessary surprise of unexpected expenses.”

Teat’s services extend beyond planning/design, material selection, demolition and construction. As part of your design package, they can also provide unique finishing touches to assist in the completion of your dream space. In addition, they also offer a full range of environmentally friendly and energy-saving options, and when appropriate encourage customers to recycle/repurpose materials they already have that can be integrated into their new design.

Ballroom Baths and Construction Design was initially founded in Chicago, Illinois in 1996. They relocated to Boerne in 2011, however the Chicago branch of the firm remains fully operational. According to Trent, “My family and I were looking continued on page 18 boernebusinessmonthly.com

17

they are finishing out the new space for City Hills Church.

They will also be expanding to Atlanta, Georgia in 2022.

Teat and his employees pride themselves on excellence. Their experience and dedication to superior craftsmanship has enabled them to quickly establish a prominent reputation of quality with the community and the surrounding areas that they serve. Having over 20 plus years of experience, Teat believes that the key to building lifelong relationships with his customers is through maintaining an approach focused on respect for both you and your home. “We consider it a privilege to be invited into your home, and from the design process all the way through the final clean-up, we never forget that it is your home. Accordingly, we work only with contractors who share the same belief system and can demonstrate an established reputation within our community.”BBM

www.ballroombaths.com BE SURE TO FOLLOW THEM ON SOCIAL MEDIA! Instagram: @ballroom.baths Facebook: @ballroombaths

continued from page 17

to move to a warmer climate. We began looking in Florida but decided that wasn’t where we wanted to be. We came to San Antonio and began checking out the surrounding communities. Boerne won us over with its small town charm and especially the quality of the schools.” Having no family or friends in the area, the move was quite a leap of faith for Trent, his wife Stefanie and their children. Trent added, “Boerne welcomed us with open arms. The first thing that we did was to join the Chamber of Commerce. We attended every mixer and business function we could find, working hard to get the word out about our company moving to town. The thing that really took our success to the next level was when we had our ribbon cutting. One of our clients that we had done a whole home remodel for was gracious enough to allow us to have the event there. It was such a success and everyone loved being able to see a space that we had transformed!”

Ballroom Baths and Construction Design is taking the business to new heights and now offering services for commercial applications. Currently

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B oerne B usiness M onthly | March 2022

103 N. Saunders St. – Boerne (830) 816.2131

Serving the Texas Hill Country Since 1916

Our goal at Kendall County Abstract Company is to be the premier title company in Kendall County. We provide real estate closing services and title insurance to both individuals and businesses. All work and research is done in-house at our office. When you have questions and are looking for high quality, we are ready to serve your needs.

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Ashlee Pfeiffer Escrow Officer ashlee@kcac.net

“Where experience and service make the difference”

we're growing!

LEGACY BROKER GROUP IS HONORED TO ANNOUNCE OUR TWO NEWEST AGENTS

FRED STUMBERG

Realtor® – Farm & Ranch c. 210.287.4149 fred@legacybrokergroup.com

SHANNON MASSIE

Realtor® – Residential c. 432.294.4016 shannon@legacybrokergroup.com

Learn More About Fred & Shannon at

L E GAC Y B R O K E R G R O U P. CO M boernebusinessmonthly.com

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CALENDAR OF EVENTS | cont’d

PROFESSIONAL PROPERTY MANAGEMENT & FULL SERVICE REAL ESTATE CO. We Care About the Properties We Manage!

• Single Family Homes • Condominiums

• Commercial Property • Community HOA’s

Quality Maintenance | Competitive Rates | Proven Track Record

Call for More Info:

(210) 535-1355

ed@homesweethomeboerne.com

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 Local decision making  Low rates  Loans for equipment, business vehicles, and real estate, including investment real estate  Lines of credit and term loans  SBA Guaranteed Loans - we’re an SBA Preferred Lender  Home Loans with a personal touch

MARCH 12, 19 & 26 A DAY AT THE FARM AND FARMERS MARKET 9:00am to 1:00pm | Herff Farm 33 Herff Rd. – Boerne Vendors will be set up at Herff Farm to supply you with some of your local favorites.

Whether you want to hike the trails, shop in the open air, get gardening inspiration, take classes on growing your food, help the Cibolo Center for Conservation maintain the land through volunteer service projects, or get new recipe ideas, the Farmers Market at Herff Farm is the place to be.

MARCH 12 & 26 BLUEGRASS JAM AT THE AGRICULTURAL 11:00am to 1:00pm The AgriCultural Museum 102 City Park Road – Boerne Every second and four th Saturday of the month, bring your instrument and play along, or just come to listen! This event is free and open to the public.

KUHLMANN-KING MUSEUM TOURS AND QUILT PRESENTATION 12:00pm to 3:00pm Kuhlmann-King Historical Complex 402 E. Blanco Rd. – Boerne Take a tour around the Kuhlmann- King property and enjoy a joint quilt exhibit with Cibolo Creek Quilters Guild. Quilting demonstrations will be happening in three buildings on site. Historic and present-day quilts will be on display as well as rag rugs twined at the museum.

MARCH 12-13 BOERNE MARKET DAYS Main Plaza 100 N. Main St. – Boerne Saturday 10:00am to 5:00pm Sunday 10:00am to 4:00pm Since 1850, Main Plaza has been a center point of trade for the people of Boerne. In the present day, on the second weekend of every month, Main Plaza is home to a magical outdoor market that blends the traditions of the Texas Hill Country with the creations of today’s culture. Hundreds of festive booths display everything from collectibles and remembrances of the past to modern innovations that will bring a smile of wonder to those who stroll past.

MARCH 13 DAYLIGHT SAVINGS TIME BEGINS!

Kris Boiles  210.561.4764  krisb@utxcu.com David Gray  210.561.4578  davidg@utxcu.com 1440 South Main  utxcu.com

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B oerne B usiness M onthly | March 2022

MARCH 14 KENDALL COUNTY COMMISSIONER’S COURT 9:00am to 11:00am Kendall County Cour thouse 201 E. San Antonio Ave. – Boerne

continued on page 22

new year. new look. new location.

SAME INCREDIBLE SERVICE

501 E SAN ANTONIO – BOERNE, TEXAS 78006

WWW.HCHOMEANDLAND.COM (830) 331-1104

boernebusinessmonthly.com

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fun facts

WORM MOON

March Fun Facts

EACH YEAR MARCH AND JUNE END ON THE SAME DAY OF THE WEEK.

borrowing days March 29-31 are known as the Borrowing Days.

According to lore, the last three days of March have a reputation for being stormy.

fanny packs are back in fashion and have taken on the name “cross-body bag”

march 9

International Fanny Pack Day

In the 1950s the leather fanny pack was invented for skiers and coincided with a postwar desire to travel to Europe & hit the slopes.

The full moon in March is called the Worm Moon. It earns this name because of all the insects beginning to hatch.

Shamrock

The shamrock was considereda sacred plant by the Celts that symbolized the arrival of spring.

According to legend, St. Patrick used the plant as a visual guide when explaining the Holy Trinity.

CALENDAR OF EVENTS | cont’d MARCH 15 KCBFO TRANSPORTATION COMMITTEE MEETING 2:00pm to 4:00pm Boerne City Hall -- 1st Floor Staff Training Room or City Council Chambers.

447 N. Main Street – Boerne Developing a countywide transportation plan to mitigate current and future traffic congestion in Kendall County in a way that preserves cultural and environmental resources and promotes appropriate economic development.

These meetings are open to the public.

MARCH 19 MUSIC IN THE CAVE: SPRING EQUINOX 7:00pm to 9:00pm | Cave Without A Name 325 Kreutzberg Rd. – Boerne Enjoy an evening of contemporary acoustic music, soaring vocal harmonies, and a percussive tribal/world-beat vibe performed on an unusual mix of ancient and modern instruments, all focused on the theme of Spring Equinox (beginning of Spring) as a time of re-birth and renewed energy. Some of this concert will be performed in total darkness, illuminated by periods of flickering candlelight, providing a visually rich, spellbinding setting and mesmerizing listening environment. $32 Advance; $37 at the door (if available) MARCH 20 1ST DAY OF SPRING

22

MARCH 22 CITY COUNCIL MEETING 6:00pm to 8:00pm Livestream Meeting See ci.boerne.tx us for link to meeting.

MARCH 24 GBCC RIBBON CUTTING FOR 3D REALTY AND PROPERTY MANAGEMENT 11:30am to 12:00pm 8200 I-10 West, Suite 505 – San Antonio GBCC BOERNE AFTER 5 MIXER: HOSTED BY ESPERANZA 5:00pm to 7:00 pm Esperanza Clubhouse 601 Esperanza Blvd. – Boerne BOERNE PERFORMING ARTS - MOMIX Thursday, March 24, 2022 7:30pm to 9:00pm Boerne Champion Auditorium 201 Charger Blvd – Boerne Transporting audiences from their everyday lives to a Fantasy world through its trademark use of magical lighting and imagery, MOMIX has thrilled fans in over 22 countries and has been featured on stage, screen, and television. In an endless search for another gravity, path-breaking choreographer and Artistic Director Moses Pendleton combines athletic dance, riveting music, outrageous costumes, inventive props, and pure talent to create an entertaining multimedia experience that will

B oerne B usiness M onthly | March 2022

surprise, enchant, and astonish. Experience the Exceptional…Expect the Unexpected! www. boerneperformingarts.com for ticket info.

MARCH 25 Z'S ARTISANS MARKET 6:00pm to 10:00pm 118 Old San Antonio Rd. – Boerne There will be live music & local vendors who handcraft their products! Vendors may include handmade soaps, hand sewn items, handwritten home decor, hand poured candles and maybe even entertainment for the whole family!

MARCH 26 INISHFREE SCHOOL OF IRISH DANCING PERFORMANCE 10:30am to 11:00am PHPL Community Room 451 N. Main St – Boerne Enjoy a toe-tapping, finger clapping performance by these renowned dancers.

BLACK RIFLE BLOCK PARTY 4:00pm to 10:00pm 101 S. Main St. – Boerne You and your family will enjoy live music, a car show, food and beverages from participating businesses plus more you don't want to miss!

BOERNE EDUCATION FOUNDATION’S ROCK ON 25TH ANNUAL FUNDRAISER 7:00pm to 11:00pm Kendall County Youth Agricultural and

continued on page 27

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new business

G

Pat & Kim Bakery Got a sweet tooth? Well you’re in luck! Pat and Kim Carrasco, the husband and wife team behind the new Pat & Kim Bakery, have opened up their home bakery and are offering delicious cookes, breads and more! While they have classic cookie flavors such as chocolate chip and oatmeal, their specialty cookies include offerings such as pineapple upside down, mango chamoy and sopapilla. According to the couple, everything they do is driven by love. They express their creativity through their unique and fun flavors. Orders are available from their website and are available for local delivery.

These are perfect for your next party, get together or just to have at home for a special sweet treat! BBM

www.patandkimbakery.com instagram: @patandkimbakery facebook: @patandkimbakery

We LOVE learning about new local businesses!

Tell us about yours at info@boernebusinessmonthly.com

B CUTS • COLOR • STYLING Appointment booking available online at

barbiesinboerne.com BARBIE (210) 330-6676

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B oerne B usiness M onthly | March 2022

KIMBERLY (210) 827-9310

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CUSTOM GRANITE AND QUARTZ COUNTERTOPS

GRANITE • QUARTZITE • MARBLE • QUARTZ Hundreds of Slabs On Site

Call for a FREE Estimate – (210) 876-3594

RiverCityRockTops.com • info@rivercityrocktops.com 122 Chulie Drive – San Antonio | Mon-Fri 9-5, Sat 9-1

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Restrictions may apply. Must fabricate and install with RCRT. Must mention ad at intial consultation. Offer expires May 31, 2022.

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B oerne B usiness M onthly | March 2022

CALENDAR OF EVENTS | cont’d Equestrian Center 648 FM 289 – Comfort If there was ever a year to be a part of Boerne Education Foundation’s Rock On annual fundraiser, this is it! 2022 marks the 25th "silver" anniversary of BEF! In addition to the silent and live auction, live music, and a delicious, catered dinner by Don Strange of Texas, they will commemorate their 25th anniversary by giving away a $25,000 grant to one lucky winner in BISD! Also, for the first time ever they will announce and award the District Teacher of the Year! Sponsorship tables available or $150 for individual tickets boerneisd.home.qtego.net MARCH 29 GBCC RIBBON CUTTING FOR THE WILLIAM 11:30am to 12:00pm | The William Hotel 170 S Main Street – Boerne GBCC RIBBON CUTTING FOR PATRICK HEATH PUBLIC LIBRARY SERVICE CEREMONY FOR ED ROGERS 1:30pm to 2:00pm Patrick Heath Public Library 451 N. Main St. – Boerne MARCH 30 MAGICAL HISTORY TOUR FEATURING FRANK GRAVES 6:00pm to 8:00pm Patrick Heath Public Library Community Room 451 N. Main St. – Boerne Steeped with history, old weapons capture our imagination. Frank Graves, an expert on American percussion firearms, a member of the invitationonly, American Society of Arms Collectors, and a 50-year plus student of the earliest Colt revolvers, will detail early Kendall County and Boerne weapons. Mr. Graves, who has been a collector since his youth, will share his extensive knowledge and life-long passion of early guns in his program. While many have heard of the famous marksman, Ad Toepperwein, one the details that Frank has uncovered was the fact that his father, Boerne resident E. A. F. Toepperwein, actually developed a patent for a repeating rifle in 1875. The background on this story and more will be incorporated into his presentation.

MARCH 31 FABULOUS FOODS OF THE FIFTIES 5:30pm to 6:30pm Patrick Heath Public Library 451 N. Main St. – Boerne PHPL staff member and chef extraordinaire, Alison Topper, celebrates the Library’s 70th Anniversary with a tasty trip back to the 50s.

They’ll have samples of popular food from the times, recipes to share, tips on preparation, and some interesting culinary history. Seating is limited, so registration is required.

Email topper@boernelibrary.org or call (830)249-3053 to register. BBM

(830) 816-2288

Judy Filingeri Owner Angela Turner Broker Carey Stewart Realtor Suzanne McGinnis Realtor Brette Nickelson Realtor boernebusinessmonthly.com

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ribbon cuttings

Greater Boerne Chamber of Commerce January/February 2022 Ribbon Cuttings

BRACKEN CHRISTIAN SCHOOL - BOERNE Bracken Christian School in Boerne is located at 215 Water Street and partners with Christian families through leadership and guidance of the Holy Spirit to provide an excellent education within the context of biblical worldview, equipping students to impact their culture for Christ. Bracken offers classes for children starting at 4 years old and in PreK and goes up through Twelfth Grade! Bracken Christian School also offers classes for homeschooled kids with a program called STREAM. Go to brackenchristian.com or call (830) 438-3211 to learn more about everything Bracken Christian School offers for your children!

THE BEVY BREW GRAND OPENING Start your morning at The Bevy Hotel Boerne, a DoubleTree by Hilton’s local artisan coffee bar and scratch bakery located on the first floor. Indulge in homemade pastries, including gluten-free options, grab-and-go breakfast and lunch items, fresh fruit and juices, smoothies, and an assortment of organic teas, freshly brewed coffee, lattes, espressos, iced coffee and so much more! Open Daily (except on Mondays) from 7am-12pm at 101 Herff Rd. Boerne.

Stop by, visit them, and pick up some delicious treats!

Visit their webpage thebevyhotel.com/dine.

AID THE SILENT’S 7TH YEAR ANNIVERSARY Aid the Silent is committed to advocating and supporting the deaf and hard-of-hearing community. It was created to help thousands around the world find information about living in today’s society as a deaf or hard-of-hearing individual, to learn about Jesus’ word and to inspire people to embrace their differences.

Through commitment and prayer, Aid the Silent dedicates its efforts to providing a platform to raise funds for deaf ministry, deaf research, deaf education and deaf resources.Visit aidthesilent.com, email info@ aidthesilent.com, or call (830) 249-1744!

JONATHAN SOMMER INSURANCE AGENCY As your local Farmers Insurance agent, Jonathan helps customers like you identify the insurance coverage that best fits your needs. This process is straightforward and personalized to help make sure you are properly covered. He has the knowledge and experience to help you better understand your coverage options - whether that’s auto, home, renters, business insurance, life insurance or more. Give them a call at (830) 816-5161 or visit agents.farmers.com/tx/boerne/jonathan-sommer or stop by at 136 Old San Antonio Rd. Ste 403 in Boerne to get started today!

HILL SECURITY LLC Hill Security is a private security guard company based in Kerrville, TX, with over 37 years in law enforcement and security experience. Hill Security offers services like 24/7 armed and unarmed guard service, alarm response, area patrol, retail/mall/shopping centers, construction security, corporate security, parking lot security, private event security, weddings, Quinceanera’s, etc.! Give Tommy at Hill Security a call at (830) 496-4324, email info@thillsecurity.com or go to hillsecurity.com to learn more today!

JAMIE STANFORD, REALTOR AT KELLER WILLIAMS CITY VIEW Jamie Stanford is a Real Estate Agent with Keller Williams City View Commercial Office located right here in Boerne, Texas! She also provides residential services for all of your house needs. Jamie is extremely experienced in the buying or selling of residential properties, commercial office spaces, development, small or large corporate buildings, etc.! Give her a call at (830) 388-0828 or email jamie@kw.com to get started today! Be sure to like and follow her Facebook page facebook.com/jamiestanfordKW.

BANDY CONSTRUCTORS Bandy Constructors is a modern, full-service commercial general contractor with old-school values and a reputation for delivering on their commitments. Bandy team is proud of the long-term relationships they’ve created and their work on some of the most challenging public and private projects in Central and South Texas. Interested in learning more about their pre-construction services, general contracting, construction management, finish-out services and design build? Give Bandy Constructors a call at (210) 519-0330 or go to dlbandy.com!

LITTLE SPURS AUTISM CENTERS GRAND OPENING The purpose of Little Spurs Autism Centers is to serve the needs of individuals with Autism and their caregivers by using high quality, evidence-based, ABA therapy. What sets them apart from other ABA service providers is their focus on collaborating with caregivers to ensure that they feel supported in supporting their child. Visit littlespursautism.com, call (210) 263-9443, email autism@littlespurs.com or stop by at 24200 IH-10 W. Frontage Rd. San Antonio!

ULTRAQUIP, LLC UltraQuip was originally formed in Midland in 2007 to satisfy the ever-growing demand for energy equipment specializing in portable power, compression and pumps products. They have grown to multiple locations and expanded their product offerings to reach different markets from construction, agriculture, landscaping, equipment sales, reliable shop and field service and full parts offerings. Stop by and visit them at 40500 IH-10 W. in Boerne, call (210) 951-8088 or go online ultraquip.comfor more information.

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B oerne B usiness M onthly | March 2022

WELLMED IN BOERNE WellMed is a leader in keeping older adults healthy.

They are proud to provide extra support for those with multiple chronic conditions such as diabetes and heart disease. Specialists include cardiology, podiatry, dermatology, rheumatology, neurology, palliative care, wound care, hospital medicine and more. Go to wellmedhealthcare.com, stop by and visit them at 124 E. Bandera Rd. in Boerne or give them a call at (830) 816-2312 to learn more!

ANDRA WISIAN CATTLE CO. Andra & her husband raise and sell Registered Red Angus Cattle in the Kendall County Area. They eventually plan to sell cattle which will be processed by a USDA certified processor. To learn more, please contact Andra Wisian at (210) 863-3222 or email andra.wisian@gmail.com!

ASSEMBLE COCKTAIL WORKSHOP Book your very own private cocktail workshop - perfect for birthday parties, a girl’s night out, a bachelor(ette) party, team building activity, corporate happy hours and so much more! Assemble will curate a cocktail lineup that suits your specific taste and occasion. If you can’t make it to their cottage studio in Boerne, they also offer interactive cocktail workshops in your home, alternate venue, or even virtually! Not only that, Assemble also offers bartending service!

Their experienced bartenders are TABC certified, insured and ready to serve epic drinks at your wedding, party or event! Call (830) 423-5454 or email hello@assemblecocktail.com.

KENDALL COUNTY SHERIFF'S OFFICE FOUNDATION The Kendall County Sheriff's Office Foundation is a nonprofit organization which strives to enhance community outreach, while providing additional key resources to best equip the Sheriff's Office in its mission to protect the lives and property of the residents and visitors of Kendall County. Go to kcsoftx.com, email info@kcsoftx.com, or call (210) 857-3566!

SOUTH TEXAS BLOOD & TISSUE BOERNE DONOR ROOM GRAND OPENING For more than 45 years, the nonprofit South Texas Blood & Tissue Center has focused on a critical purpose: to save and improve lives. Inspired by a group of physicians, STBTC was formed to provide blood to the South Texas region - ensuring a safe and adequate blood supply through proper testing, storage and distribution to hospitals. This essential service allows front-line workers to focus on the direct care of patients, with confidence that this lifesaving resource will be there when it’s needed most. Located at 215 W. Bandera Rd. in Boerne, visit biobridgeglobal.org/donors/ or call (210) 331-5555 for more information on donating. boernebusinessmonthly.com

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finances

D

Striking a Balance on Spending During his working years, Fritz Gilbert was a super saver: He socked away an average of 20 percent of his earnings and invested carefully. But when he retired from a 33-year career in the aluminum industry in 2018, he and his wife, Jackie, switched their mindset. Within the confines of their carefully constructed financial plan, they became unabashed spenders.

Since then, they’ve taken a 7,000-mile train trip, toured the country in their RV, and purchased a second home near their daughter, son-in-law, and three-year-old granddaughter. Their primary home, a 2,000-squarefoot cabin in Blue Ridge, Georgia, is a step up from the vacation cabin they first moved to after selling their big family home in Atlanta.

Recently, they added a woodworking shop that doubles as a writing studio for Gilbert, who is the author of a blog, The Retirement Manifesto, and a book, Keys to a Successful Retirement: Staying Happy, Active, and Productive in Your Retired Years.

“We’re in the go-go years,” says Gilbert, 58. “We’re young, we’re healthy, we’re traveling. We are not worried. We are enjoying ourselves.”

Are the Gilberts crazy not to worry? Or are they on to something?

They are definitely on to something.

While many American retirees do indeed need to scrimp in order to keep paying their bills, many others have a nicer problem, financial researchers say.

If these well-funded retirees don’t start spending more of what they have, they may die with their nest eggs largely intact or expanded—even if they never consciously decided to do so.

While surviving family members, charities, or other beneficiaries may appreciate such sacrifices, there’s a price, says Sarah Asebedo, an assistant professor in the school of financial planning at Texas Tech University. “The downside is life not lived,” she says. “If you don’t pull the money out, if you don’t spend it, what are you missing out on? What

Source: Employee Benefit Research Institute

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B oerne B usiness M onthly | March 2022

by Kim Painter

are you holding back on? What are you giving up?”

The things you could miss out on—from travel to family time to doing good works—are exactly the things you probably saved for in the first place, she and other experts say.

The Retirement Consumption Gap In the dry lingo of academia, this underspending problem is called the retirement consumption gap. It’s unclear how common this somewhat enviable affliction is. But recent research provides some clues.

One study published in 2021 in the Journal of Financial Planning found that just 18 percent of newly retired Americans had enough wealth to keep spending at preretirement levels. But a funny thing happened as people settled into retirement.

Almost everyone, at every wealth level, spent less. In most cases, this was a good move, a matter of right-sizing spending to fit available resources, co-authors David Blanchett and Warren Cormier reported.

They found that 10 years into retirement, 48 percent of households had the resources to support their spending.

But because well-funded households typically cut back on spending, as well, many actually spend much less than they could afford.

“We see too many households err on the side of not spending when they’re younger in retirement” for fear of running out of money when they are older, says Blanchett, who is managing director and head of retirement research for PGIM DC Solutions, the global investment management business of Prudential Financial.

Another study, also published in the Journal of Financial Planning in 2021, found that average retirees in the top three-fifths of income spent less than they took in from Social Security, pensions, investment earnings, and other income sources. The researchers, led by Asebedo’s Texas Tech colleague Christopher Browning, then looked at how that consumption gap might affect overall assets over a 30-year retirement under various investment scenarios.

Their conclusion? Even if a generous 40 percent of the portfolio was set aside for late-in-life medical expenses and bequests, a retiree with a mid-level income might underspend by as much as 8 percent. The wealthiest retirees might use 47 percent less than they could safely spend.

“Retirees in the top quintile of financial wealth were spending nowhere near an amount that would place them in danger of running out of money,” the researchers concluded.

Understanding the Underspending Mindset Mike Gray, a CAPTRUST financial advisor based in Raleigh, North Carolina, says he sees plenty of people who haven’t saved and invested nearly enough to keep up their spending in retirement. These folks may have enjoyed six-figure incomes, nice

homes, pricey vacations, and other trappings of a comfortable lifestyle, but they never saved more than the bare minimum in a 401(k) plan. Many are unpleasantly surprised to learn that they must live more modestly in retirement, he says.

But Gray also sees plenty of potential under-spenders among diligent lifelong savers. For example, take a couple who have $3 million in retirement accounts and are used to living well within their means, Gray says. “If spending doesn’t change during retirement at all, and they don’t do any travel or anything outside the realm of their normal budget, what ends up happening is that their asset base grows year after year after year until they pass away.”

All of a sudden $3 million is $12 million, Gray says. “You show them that and say, ‘OK, what do you want to have happen with this?’ And their eyes kind of go wide and they say, ‘Oh, wow, I never thought about that.’”

But nudging people to spend more isn’t a simple matter of showing them an eye-popping projection. That’s because good savers often have personality traits that make them uneasy spenders, Asebedo says. In one study, she and Browning found some of the lowest portfolio withdrawal rates among people who showed the highest levels of conscientiousness.

“These are the quintessential savers, the budgeters, the ones who have all the checklists,” she says.

Spending more may literally make such people queasy, Asebedo says.

“We expect people to just flip a switch once they get to retirement. We say, ‘OK, it’s time to take money out, it’s time to spend.’ And I think we underestimate what kind of a psychological leap that can be for a lot of people because of the years and years of blood, sweat, and tears and self-control it took to put that money in. It actually can feel painful and nauseating for some people to pull money out.”

Blanchett agrees. “People spend all these years socking away money … then all of the sudden to change that mindset from ‘save, save, save’ to ‘spend, spend, spend,’ that’s just not easy.” He says many people envision their portfolios as “this gigantic pot of money” that must be protected because it can never be replaced.

In fact, according to a September 2020 Employee Benefit Research Institute survey of 2,000 Americans ages 62 to 75, only 14.1 percent think they’ll spend down all their assets.

Moreover, as shown in Figure One, nearly 60 percent plan to grow their assets in retirement, leave them untouched, or spend them down only a little.

The objections to spending go beyond gut feelings, of course. People who retire at 60 or 65 are worried about their healthcare needs if they live to be 90 or 95. Or they are worried they may need to financially support an aging parent or a struggling adult child. Some are highly motivated to leave large sums to their children, though Gray says such folks are in a distinct minority. Some have other bequests in mind. Many are worried about maintaining their lifestyles if markets tank in the future.

The secret to loosening the purse strings without losing peace of mind? It’s all about planning.

Enjoying the Well-Planned Retirement Allen Chamberlain, a retired schoolteacher and librarian from Richmond, Virginia, might seem like the sort of person who would have trouble spending her retirement savings.

Chamberlain, 68, says she grew up with parents who “were pretty remarkable savers, even though they were not high income.” She tried to follow in their footsteps during her working years, contributing as much as she could to her retirement plan and sticking to a conservative but effective investment strategy. She also received an inheritance from her thrifty parents.

Before she retired at age 65, she worked with her financial advisors, including Gray, to come up with a plan for making her money last. “I came up with a budget of what was really necessary and what was important to me, and that helped me see what was possible,” she says.

Under her plan, she gets a monthly income from her portfolio that goes straight into her checking account. With that income, along with Social Security, she says she lives a comfortable but not extravagant life.

One luxury she allows herself and has budgeted for is regular extended trips overseas to visit her grown daughter, Evie, who lived for several years in Edinburgh, Scotland, and now

lives in Zurich, Switzerland.

Chamberlain says her planning also allows for flexibility. She says that when she wanted to withdraw $30,000 to renovate two bathrooms in the home she shares with her partner of 31 years, she checked with her CAPTRUST advisors.

They reassured her that the expense would not throw her long-term plans off track or force her to cut corners. “They were able to assure me that ‘you’ve got this,’ because of the careful planning in place.”

Planning is also the secret to the Gilberts’ active lifestyle. Before he retired, Fritz Gilbert says he and his wife decided they could safely withdraw 3.3 percent each year from their portfolio. That’s in the conservative range recently endorsed by some financial forecasters worried about future market downturns, Gilbert notes.

His plan also includes spending less in later years when healthcare costs typically rise but other wants and needs tend to decline. The Gilberts also plan to leave a pool of money available in case either of them needs costly long-term care.

“You’ll never alleviate all the risks, but you do what you can to alleviate the most likely risks,” Gilbert says.

And then, he says, you live your life and, ideally, think very little about money.

Like Chamberlain, Gilbert has a paycheck sent monthly to his checking account.

And that money, he says, is money he feels very comfortable spending.

On a typical day at home, he is exercising, writing, or building something in his workshop. His wife is busy running a nonprofit called Freedom for Fido that provides doghouses and fences to families that would otherwise leave their dogs on chains.

One week a month, they load up their own four dogs and head to their condo in Alabama to spend time with their daughter and her family. When money builds up in their checking account, they spend and enjoy it—because, Gilbert says, that’s why they saved it in the first place.

“We are not recklessly optimistic,” he says. “But we live optimistically.”BBM Karl Eggerss is a principal based out of Boerne, Texas. At CAPTRUST, he provides insightful planning and investment guidance to clients and is a valuable addition to the team through strategic research, due diligence, and portfolio construction. Throughout his career, Karl has enjoyed offering opinions on the state of the economy and the financial markets whenever possible. He has hosted a syndicated radio show airing in Houston, Dallas, San Antonio, Colorado Springs, and Denver. Karl has been a frequent contributor on various financial news networks, including CNBC, CNBC Asia, Bloomberg, Fox Business, and Reuters.

Currently, he hosts a weekly podcast called “Creating Richer Lives,” focusing on living a richer life beyond bank account balances.

This document is intended to be informational only. CAPTRUST does not render legal, accounting, or tax advice. Please consult the appropriate legal, accounting, or tax advisor if you require such advice. The opinions expressed in this report are subject to change without notice. This material has been prepared or is distributed solely for informational purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. The information and statistics in this report are from sources believed to be reliable but are not guaranteed by CAPTRUST Financial Advisors to be accurate or complete. All publication rights reserved. None of the material in this publication may be reproduced in any form without the express written permission of CAPTRUST: 919.870.6822. © 2022 CAPTRUST Financial Advisors

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