Vol. 10, Issue 12, December 2021
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Your community. Your magazine. ™
The Premier “Shop Local” Community Magazine Directly Mailed To Over 15,000 Homes In Citrus Park, Westchase & Surrounding Areas This Independent Community News, Business & Dining Guide Is Directly Mailed Once Each Month To:
Arlington Park • Aston Villas • Bay Arbor • Berkeley Square • Calf Path Estates • Enclave At Citrus Park • Fawn Ridge Fawn Lake • Forest Lakes • Hampton Lakes • Highland Park • Lake Chase • Mandolin • The Eagles • Tree Tops Twin Branch Acres • Waterchase • West Hampton • Westchase • Westchester • Westwood Lakes • Windsor Place
2022: The Year for Financial Resolutions Presented by Cody Kimble New Year’s resolutions tend to include overcrowded gyms, eating better, or projects around the house. But what about your financial health? Here are three resolutions that can help increase your financial fitness today and in the New Year.
Resolution 1: Create a budget for life When it comes to finances, life can be viewed as cash flowing in—and out. Saving and investing during your working years, if you stick with it, could lead to a rising net worth over time, enabling you to potentially achieve many of life’s most important goals. Creating your own budget and net worth statement can help you build your road map and stay on track. • Create a budget and pay yourself first. If you’re not sure where your money is going, track your spending using a spreadsheet or an online budgeting tool for 30
days. Determine how much money you need to cover your fixed monthly expenses, such as your mortgage and other living expenses, and how much you’d like to put away for other goals. For retirement, our rule of thumb is to save 10–15% of pre-tax income, including any match from an employer, starting in your 20s, then add 10% for every decade you delay saving for retirement. Once you commit to an amount, consider ways you can save automatically. Research shows that if you “pay yourself first,” it makes savings easier. • Calculate your personal net worth annually. It doesn’t have to be complicated. Make a list of your assets (what you own) and subtract your liabilities (what you owe). Subtract the liabilities from the assets to determine your net worth. Don’t panic if your net worth declines during tough market periods. What’s important is to see a general upward trend over your earning
Cody Kimble is a Financial Consultant at Charles Schwab focused on helping clients achieve their financial goals.
years. If you’re retired, you’ll want to plan a drawdown strategy to make your net worth last as long as necessary, and to support other objectives • Project the cost of essential big-ticket items. If you have a big expense in the near term, like college tuition or roof repair, increase your savings and treat that money as spent. If you know that you’ll need See “Resolutions” on page 12
INSIDE THIS ISSUE: From the Editor................5
Tech Talk with Bob........6-7
SAT/ACT Improvement....8-9
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Shop Local This Holiday Season Holiday Shopping is in full swing, and while online purchases continue to thrive, Tampa Bay streets are getting packaged again, with more people visiting stores and shopping face to face than last year. Even though COVID19 is not entirely behind us, and in certain parts of the world, the numbers continue to rise, Tampa natives, tourists, and snowbirds alike seem to be ready to be out and about and celebrate big this holiday season. During the pandemic, online shopping became the norm. I cannot deny it was fast, convenient, and safe, but was it more affordable, and enjoyable? Not necessarily. Online shopping doesn’t always mean better price or better quality, so beware. I have never been a big fan of online shopping, and I usually end up returning most items. Don’t you miss interacting with real people? Touching things and trying them on to make sure you like them? But mainly, having someone offer their assistance in helping you find that unique gift for that special person? I enjoy being out socializing, and especially during the Holidays. You can feel magic in the air! The whole month of December is full of extraordinary, family-friendly events for you to enjoy. Many stores bring out their holiday merchandise and offer fantastic deals. Most local parks are beautifully decorated with lights and For Advertising Info 727-943-0551 I info@nnlflorida.com or visit tbnewsandlifestyles.com
festive motives. Markets and arts and craft festivals with amazing vendors and blocks full of locally hand-made products will blow your mind! At Tampa Bay News and Lifestyles, we’re all about supporting local! And this month (and always), I encourage you to visit locallyowned shops, where you can find incredibly unique gifts for your loved ones while supporting your own neighbors, friends, and your community members. Multiple Tampa Bay News and Lifestyles advertisers are already offering fabulous deals and spectacular Holiday specials that will last throughout the rest of the year. Whether you’re shopping for clothes, jewelry, wine and spirits, beauty and personal care, sporting equipment or outdoor living, cooking ware, restaurant gift cards, or even a brand new home, you can find your perfect gift right in your neighborhood! Please browse through this and our other digital issues online, and find your perfect gift today! I wish you the best of the season. A healthy and happy holiday and a chance to reflect, recharge and reconnect with your loved ones. Remember always how blessed you are and all the reasons you have to feel thankful for and to celebrate. Until next year, see you in 2022!
Carla M. Dubis Tedeschi. DECEMBER 2021 5
Tech Talk with Bob: Shop Safely Online
As the holidays quickly approach, I am scrambling to complete my shopping in time. I find I am doing most of my holiday shopping online this year, and you may too. As holiday euphoria sets in, we want to be sure that we do not drop our guard when shopping online. Here’s a few tips to help improve your safety posture when it comes to giving others access to your money. First and foremost, do not use your computer for any financial transactions if you are not certain that
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your computer itself is functioning 100% free of any viruses, spyware, keyloggers, Trojans or any other dangerous software. If you question the integrity of your computer’s safety, you need to have it inspected by a certified professional. You have
access to my professional analysts and technicians who thoroughly inspect and scrutinize your system for threats, so you can be sure you are ready for a safer online shopping experience. Second, make sure your computer is using robust anti-malware software solutions to protect you. Be sure you always keep that software up to date too. Third, be certain you also keep your computer’s operating system up to date with all its latest tweaks and security patches. Any security breach
discovered in your operating system can leave you exceptionally vulnerable to attackers. Fourth, not only does your computer need to be safe, the network it connects to must also be safe. Only shop online when you are connected to a network you trust. That means use your private home network not some public wi-fi hotspot at a park, restaurant, hotel, waiting room, etc. Any information that you type into any website can be seen and even collected by the owner of the hotspot; or even worse, a
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malicious attacker who has hacked and taken control of the hotspot. Online shopping from your private home network is a much safer bet than using any public hotspot. Fifth, use credit cards instead of debit cards for your online purchases. Banks these days are pretty good about protecting their card users against fraud. However, if you should have an issue with a transaction, you’ll have less of a headache if you use your credit card instead of your debit card. Sixth, vet your vendors. Don’t just buy from any website. It is easy for criminals to set up websites. You may stumble onto some sketchy sites while you shop. Be discriminating when it comes to the websites you choose to enter your credit card number into. If your gut doesn’t feel right as you type in your card number… STOP! Only buy from online vendors you are comfortable with. Cyber criminals will exploit the easy victims and unprotected systems. Protecting yourself online is your responsibility, but you don’t have to do it all by yourself. I’m here to help you. If you are not sure your system is safe, you need to have me look at it. Call 727-534-4000 right now. We’ve been helping
folks restore their peace of mind, and sanity, with their technology for decades. Want a money-saving offer or unique gift idea for the upcoming holidays? Buy one Cybersecurity Scan and GET ONE FREE. Yes, I will scan two computers for the price of one! You can give both scans away to two friends, or you can get your computer scanned and give a friend the gift of a FREE scan. One certificate is only $100 and good through December 2022. But you will get two Cybersecurity Scan Certificates when you purchase one between now and the end of December 2021. We can easily accommodate your phone order and we accept all major credit cards. Call 727-5344000 to place your order right now. We Keep You Safer In Your Digital World! To my Clients and Readers… A Big THANK YOU. I cherish your loyalty, continued support, and the many friendships made throughout the years. Please take time to be grateful for what you have and treasure your time with family and friends. My wonderfully supportive family and incredible staff wish you and your loved ones Happy Holidays and a Healthy, Safe, and Secure New Year!
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SAT AND ACT IMPROVEMENT: GETTING READY By Dr. Wayne Adams As we move into December, all SAT and ACT Exams have been completed for fall, all of us are so happy we live in Florida during the winter … and we are getting ready for life after Christmas holidays! SENIORS are finalizing applications, wondering what happens next, and many are starting to work on bringing up their exam scores to qualify for the 75% Bright Futures Scholarship (about $18,000) or the
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100% Bright Futures Scholarship (about $25,000). Many schools such as FSU, USF, and UCF, use “rolling admissions”, meaning you can apply and send your applications in the spring for consideration for the next fall freshman class. This is also true for many schools outside of Florida. For these SENIORS, I can help with a full prep course, or selected “skill strenghening” classes such as in math, the verbal sections, or (for the ACT) science. A
current student working on SAT math told me at the end of our first class, “I am really surprised there are so many tricks to solve problems much faster and get them right!” Yes, there really are! For JUNIORS preparing further ahead usually like to work with the full prep course, and many opt to prepare for both the SAT and the ACT with me. My students will usually score 15 percentiles higher one one exam or the other, but it is hard to know which until they
have prepared for both. For SOPHOMORES, you would be surprised at how many calls I receive about starting early to be ready for the next PSAT. Often these students are aiming for “Top 25” schools, and for UF (now ranked #5 in the country for public universities according to US News and World Report). Some are also aiming for National Merit Scholarships, which bring additional scholarship funding plus schools love to have this level of student to enhance the school’s reputation.
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you sent us. I had no idea you could negotiate with colleges and reduce their costs so much. Your Negotiating with Colleges was eye-opening.” “Dr. Adams, we have just finished your course and I wanted to thank you for all you have done. Our student greatlly improved SAT scores. Plus you helped with so many life-lessons, insights into future career possibilities, and how to get a really good start in college. You are more than a tutor, you are a great community asset.” If You Would Like To Talk More About Your Student … Please contact me at 727-253-0639 or send me an e mail at wwa0811@mykolab.com. The next two exams are the ACT on Saturday, February 12, and the SAT on Saturday, March 5. SAT PREP USUALLY STARTS in early January with once a week classes, and if we start in early February with twice a week. ACT PREP USUALLY STARTS in late December or early January with twice a week classes. MY COMBINATION ACT AND SAT CLASSES also usually start in late December or early January with twice a week classes. In closing, I would like to share several surprise emails I received from my students and their parents. RECENTLY RECEIVED FROM PARENTS AND STUDENTS “When our daughter came home after your first class, she was so excited about all she learned. This is high-praise from her.” “Your helping with my reading and grammar really made the difference. Now I am well within the SAT range for admission to my dream school.” “Thank you so much for the four books/guides
Dr. Wayne Adams is one of the leading SAT and ACT tutors in the country. His students normally improve 200+ points on the Writing, Reading, and Math, and 4 – 7 points on the ACT composite. They have been admitted to 9 of the top 10 universities in the country, 18 of the top 25, and many schools in Florida. These schools include Harvard, Yale, Princeton, Columbia, Stanford, U Chicago, Duke, U Penn, Johns Hopkins, Cornell, Notre Dame, Emory, UC Berkley, UCLA, USC, UNC (Chapel Hill), NYU, Northeastern (Boston), Boston College, Georgia Tech, Naval - Air Force - Merchant Marine Service Academies, Penn State, LSU, Auburn, UF, U Miami, FSU, USF, UCF, Florida Atlantic, Florida Gulf Coast, FIU, New College of Florida, Stetson, and Julliard – Manhattan - New England - and Berkley Conservatories of Music. Many have received academic, athletic, or music scholarships. Three of his students have qualified as national merit finalists on the PSAT. He is a former Dean of a Graduate School of Business and Full Professor, and began college teaching at the University of Maryland in 1968. He has degrees and advanced studies at Harvard, Yale, Vanderbilt, Columbia International, and Luther Rice.
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“Resolutions” story continued from page 1 the money within a few years, keep it in relatively liquid, relatively safe investments like cash equivalents. • Retired? Invest your living-expense money conservatively. Consider keeping 12 months of living expenses after accounting for non-portfolio income sources (Social Security or a pension) in short-term CDs, an interest-bearing savings account, or a money market fund. Then consider keeping another one to four years’ worth of spending laddered in short-term bonds as part of your portfolio’s fixed income allocation. This can help provide the money you need in the short term,
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allowing you to potentially invest other money for a level of growth potential that makes sense for you, which could reduce the chances you’ll need to sell more-volatile investments (like stocks) in a down market. • Prepare for emergencies. If you aren’t retired, we suggest creating an emergency fund with three to six months’ worth of essential living expenses, set aside in a savings account or money market fund. The emergency fund can help you cover unexpected-but-necessary expenses without having to sell more volatile investments.
Resolution 2: Manage your debt
Debt is neither inherently good nor bad—it’s simply a tool, if used smartly. For most people, some level of debt is a practical necessity, especially to purchase an expensive long-term asset to pay back over time, such as a home. However, problems arise when debt becomes the master, not the other way around. Here’s how to stay in charge. • Keep your total debt load manageable. Don’t confuse what you can borrow with what you should borrow. Keep the monthly costs of owning a home (principal, interest, taxes and insurance) below 28% of your pre-tax income and your total monthly debt payments (including
credit cards, auto loans and mortgage payments) below 36% of your pre-tax income. • Eliminate highcost, non-deductible consumer debt. Try to pay off credit card debt and avoid borrowing to buy depreciating assets, such as cars. The cost of consumer debt, if you carry a balance, adds up quickly.
Resolution 3: Optimize your portfolio We all share the goal of getting better investment results. So create a plan that will help you stay disciplined in all kinds of markets. Follow your plan and adjust it as needed. Here are ideas to help you stay focused on your goals. Focus first and foremost on your overall investment
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mix. After committing to a savings plan, how you invest is your next most important decision. Have a targeted asset allocation—that is, the overall mix of stocks, bonds and cash in your portfolio— that you’re comfortable with, even in a down
market. Make sure it’s still in sync with your long-term goals, risk tolerance and time frame. The longer your time horizon, the more time you’ll have to potentially benefit from up or down markets. • Diversify across
and within asset classes. Diversification can help reduce risks and can be a critical factor in helping you reach your goals. Mutual funds and exchange-traded funds (ETFs) are great ways to own a diversified basket of securities in just about any asset class. • Consider taxes. Think about placing relatively tax-efficient investments, like ETFs and municipal bonds, in taxable accounts and relatively tax-inefficient investments, like actively managed mutual funds in tax-advantaged accounts. • Monitor and rebalance your portfolio as needed. Evaluate your portfolio’s performance at least twice a year using appropriate benchmarks. Remember, the long-term progress that you make toward your goals can be more important than shortterm portfolio performance. As you approach a savings goal, such as the beginning of a child’s education or retirement, begin to reduce investment risk, if appropriate, so you don’t have to sell more volatile investments, such as stocks, when you need cash. Lastly, the most important step is to start. Prioritize what is most important to you and move down the list. Cody Kimble is a Financial Consultant at Charles Schwab focused on helping clients achieve their financial goals. Some content provided here has been compiled from
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previously published articles authored by various parties at Schwab. Diversification, asset allocation, and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment decision This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner or investment manager. Schwab does not provide legal or tax advice. Fixed income securities are subject to increased loss of principal during periods of rising interest rates and various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Tax-exempt bonds, like municipal bonds, are not necessarily a suitable investment for all people. Tax-exempt income may be subject to the Alternative Minimum Tax (AMT). Capital appreciation from bond funds and discounted bonds may be subject to state or local taxes. Capital gains are not exempt from federal income tax. A bond ladder, depending on the types and amount of securities within the ladder, may not ensure adequate diversification of your investment portfolio. This potential lack of diversification may result in heightened volatility of the value of your portfolio. You must perform your own evaluation of whether a bond ladder and the securities held within it are consistent with your investment objective, risk tolerance and financial circumstances Charles Schwab & Co., Inc. (Member SIPC) (1121-1C07)
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