Client Axiom | Vol 285
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Meet The Axiom®’s Guest Editor: Ryan Van Blarcom, MBA
My name is Ryan Van Blarcom, and I’m an Associate Wealth Manager for our Annex Ignite Team.
I help educate clients to better understand their financial goals now and in their future.
I graduated from the University of Minnesota-Duluth in 2018 with a degree in Finance and went on to get my MBA with Capella University. I recently started with Annex in the fall of 2021, and I could not be more excited to be here!
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“One of my favorite parts about the Axiom is that it is simple, yet it provides the reader with plenty of detail. It keeps me updated on the different events, videos, or articles that Annex offers and is constantly teaching me new things to help provide our clients with a more satisfactory experience.“
– Guest Editor: Ryan Van Blarcom, MBA | Associate Wealth Manager
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As expected, Fed Chairman Powell pivoted and announced a faster taper than previously planned as the Fed seeks to fulfill its dual mandate. What does that mean for inflation in the near term? Annex Wealth Management’s Dave Spano and Derek Felske discuss.
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Christmas is less than one week away. We better run, not walk, to our kitchens for all the holiday treats.
A brief history of the Christmas cookie.
The variety of Christmas cookies and treats can be the bane of the existence of those who are trying to maintain that beach ready figure. But for the rest of us, whether will power is strong or not, this seems to be the week (or weeks in our case) where all bets are off.
A tradition that seems to have lasted throughout the ages, it makes sense that those who celebrate the meaning of the season, also create special treats and food to enhance the special time of year. And we’re here for it.
Like many other traditions, Christmas cookies also have roots from long ago, before Christmas was widely celebrated and Winter Solstice was the popular holiday. All around the world, people celebrated the changing of the seasons with a feast to prepare for the coming winter season and lack of food production. But as we all know, and so did they, every good feast needs one thing: dessert.
By the Middle Ages, that ubiquitous time period of about 1,000 years from 500 to 1,500 A.D.[1], Christmas was widely celebrated and though the Winter Solstice took a back seat, the feasting remained. In the Middle Ages, peasants couldn’t just get on their horse and trot to the nearest store to find shelves full of flour, sugar, butter, and dried fruits whenever they felt like it. It was only during the most important holidays or occasions where families would dole out the dough (we love a good pun!) for these expensive and prized delicacies.[2] Delicacies and treats became synonymous with the holiday season because of this very reason.
But when it was deemed the right time of the year to splurge, baking took place in abundance. Bakers discovered that cookies, unlike pies or cakes, were much easier to share or even be passed out as gifts – a common occurrence back then when a homemade item held much more meaning. Cookies also did last much longer before spoiling, making them a great treat to have around during the entire Christmas season.[3]
Throughout time, baking methods have changed, the availability of ingredients increased, and it seems that the variety of cookie flavors and styles is endless! Many “traditional” Christmas cookies have maintained their Middle Ages heritage, being known for the heavy spice flavors such as cinnamon, ginger, and nutmeg. The gingerbread cookie is a classic recipe that has survived through the years, and has stood the test of time since it uses molasses as a sweetener rather than refined sugar, which was often much more expensive and harder to acquire.[4]
Surprisingly enough, gingerbread cookies, a Christmas staple, were just average shapes until Queen Elizabeth I of England had her bakers mold the cookies into the shapes of her favorite courtiers and visiting dignitaries.[5] Now it seems that any gingerbread must be made into a man or woman shape, or else is it even a Christmas cookie?
In America, the first accounts of Christmas cookies date back to when Dutch immigrants brought the tradition across the sea.[6] I think most of us can be thankful they did!
The history of Christmas cookies has taken a few interesting turns throughout the years, as bakers were sure to experiment every holiday season, and the types of cookies created were dependent on the ingredients available. For example, it wasn’t until after the Great Depression that cookies loaded with butter and sugar became extremely popular.[7] During a time when those ingredients were extremely difficult to find, people missed them. After America rebounded and supply shot back up, bakers and cookie munchers alike could not seem to get enough of the ingredients they had gone so long without and sugar cookies became popular.
Today it’s hard to imagine a kitchen without a tray of festive cookies, an office without treats around every corner, or a fireplace without a plate of cookies and milk waiting for Santa’s arrival. This tradition has lasted throughout the years, and isn’t one we see going away any time soon. Christmas cookies and treats are a sure sign that the holiday season is here. And now every time you bake for the holidays, you can be happy that you’re taking part in an age-old tradition!
We hope you enjoy your time creating, baking, and eating all the Christmas cookies your heart desires this holiday season. And just for fun, check out this link to see which cookies are most popular in your state this year! Maybe you can add a few of these to your list, no matter what state you live in!
Have an idea you’d like us to write about, or a story to share? Send us an email at cl************@*********th.com.
[1] https://www.britannica.com/topic/history-of-Europe/The-Middle-Ages
[2] https://www.history.com/news/the-medieval-history-of-the-christmas-cookie
[3] https://www.grebesbakery.com/a-short-history-of-christmas-cookies/
[4] https://www.history.com/news/the-medieval-history-of-the-christmas-cookie
[5] https://www.history.com/news/the-medieval-history-of-the-christmas-cookie
[6] https://www.christmascarnivals.com/christmas-history/history-christmas-cookies.html
[7] https://www.grebesbakery.com/a-short-history-of-christmas-cookies/
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Poll Recap | What You Thought About Saving And Being Wealthy
A recent study shows that due to the pandemic our attitudes about saving and being wealthy have changed. Over the course of several weeks, we asked our readers some questions about what that means.
Week 1: Are you a saver or spender?
Only 7% of respondents admitted to being spenders. Others claimed to be savers, or a mix of both saver and spender. Most respondents answered: “I am responsible with savings – but like the ability to buy things if needed or wanted.”
Week 2: In the last year, which of the following did you splurge on:
According to this poll, respondents aren’t hosting many parties (7%), but they are traveling (32%), dining out (22%), attending shows (11%) and practicing self-care (13%). 15% answered “other”.
Week 3: Which number best describes what you think it takes to be wealthy?
There’s no question current inflation had an impact on responses – as most respondents believe you must hit the $3,000,000+ mark to truly be considered wealthy. The second-place response was $2,000,000.
According to an annual wealth survey by Charles Schwab, Americans surveyed pre-pandemic claimed it took $2.6 million to be wealthy. Post-pandemic, that number dropped 23%.*
Week 4: In your opinion, what would it take for you to be financially comfortable?
Many respondents were forward-thinking with their answers: 46% said having a retirement fund in place would make them feel financially comfortable, and 20% said having an emergency fund would. Other respondents wanted money to spend on things or experiences now: 18% said having the money for splurge items, without worry, would make them feel financially comfortable. 13% said if they had the money to vacation anytime, 3% answered other.
The pandemic has drastically changed the world, and our feelings on finance – however some things remain the same. According to the study, people were still twice as likely to say their primary source of happiness was relationships compared to money.
*https://fortune.com/2020/07/27/how-much-money-does-it-take-to-be-wealthy-definition-net-worth-finances-comfortable-coronavirus-pandemic-covid-19/
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We want to share back with you what you’ve shared with us.
First, for those who took the time to fill out our survey and give us feedback, we want to say thank you. We believe that it’s important to hear what our clients have to say about Annex and our team.
Not only do we want you to gain knowledge and understanding from us, but we want to learn from you as well. We’ve gathered, read, listened, and understood, and now we want to share just a few details back with you, our valued clients.
From over 700 responses, we wanted to share just a few insights into what our clients have been saying.
We asked several questions in our survey, but check out just a few of the incredible numbers in some responses below:
%
Satisfied with Annex understanding your needs
%
Satisfied with discussing investments knowledgeably with Annex
%
Satisfied with the work we do in creating/maintaining your financial plan
%
Satisfied with meeting your investment objectives
%
Satisfied in the skills of my Annex Team
%
Likely would recommend Annex Wealth Management to family, friends and colleagues
We are happy to see such high satisfaction from our clients regarding what we do here as a team and with our clients on
an individual level, but it’s not about the numbers. It’s about the relationships we have with you. The biggest compliment we can receive from our clients is when they tell others about how we’ve helped them build a financial future we can work towards together. We love what we do, and we love that you tell people about it too.
We also know that we have areas where we can learn and grow to better serve our clients and their families. That’s why it’s important that we listen when our clients take the time to share their thoughts. Through the survey, you let us know that communication is a vital component of our relationship with you, and we couldn’t agree more. We’ve heard that this is an area where we can improve, and we are already working on ways to create more thorough, thoughtful, and timely communication from our knowledgeable team and our Wealth Managers. It is important for us to continue to provide our clients with education and information that is both reliable and relevant. Watch for some of these new improvements coming soon!
Change doesn’t happen overnight, but with your feedback, we will be able to take steps forward to build an even stronger Annex team for you.
Thank you once again to all of those who took a few minutes to fill out the survey. We greatly appreciate it and are excited about the future to come!
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This week’s Ask Annex comes from Christie, who asks:
“Are there any last-minute year-end planning opportunities to consider regarding my current 401(k)?”
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We asked Annex Wealth Management’s Tom Berkholtz, CFP®️:
If you’re planning on maxing your 401(k) for 2021, you will want to confirm you’re on track to do so. You may need to increase your contribution percentage on a remaining paycheck to accomplish this.
For the 2021 tax year, the 401(k)-contribution limit is $19,500. If you’re over the age of 50, your limit is $26,000. Generally, the 401(k)-contribution deadline is at the end of the calendar year, not your tax filing deadline.
Lastly, the end of the year is a good time to review your accounts beneficiaries including your 401(k), to make sure the information is current especially if there were any life changes, such as marriages, deaths, divorces, or children.
– Tom Berkholtz, CFP®️ | Financial Planning Specialist
Have a question for Annex? Submit it here!
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KNOW THE DIFFERENCE MINUTE:
A Supply Chain Nightmare: Holiday Gift Returns
KNOW THE DIFFERENCE MINUTE:
Inflation Continues: Supply Chain, Labor Issues, & Fed Policy
ANNEX RADIO
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Annex Wealth Management has always been committed to client growth and education. Planning and saving can be demanding. We’ve found that when our clients master key concepts, it often enhances working together to reach their goals. Because these are not sales presentations, our clients benefit from a truly informative experience.
Check back soon for new events!Missed one of our events? Watch it HERE.
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