Five Fact Friday – July 2, 2021

Happy Independence Day! Have some fun links around the holiday and a special grilling secret from yours truly 😉

What I’m Reading:
What I’m Watching:
New In Tech:
New In Legal:
New In Retirement:

Transcript Below

Hey, there’s one thing that every guy claims to know how to do the best over any other guy that they’ve ever met. Would you like to know what that is? Well, we’ve got that link and more because I’m Victor Medina, and this is Five Fact Friday.

Hey everybody welcome back to another Five Fact Friday. This is hosted by the Medina Retirement Planning Channel where we help you know it so you don’t blow it. My name is Victor Medina. I’m a certified financial planner and a practicing estate planning attorney. So, listen I wanna go right into the links for this week.

We’ll start with what I am reading. And it’s a special link that we hinted at the top of the video, which is the perfect way to grill a steak and not just any kind of steak, but everything that goes into the science of creating grilled meat. It’s my favorite thing to do by the way. I’m an amateur chef and I love learning about why cooking works in certain circumstances. I’m not really a guy that does it by feel, I’m much more of a technician off of it. And some of my favorite channels off of that include America’s Test Kitchen, which for years and years was hosted by Chris Kimball. He’s the guy with the bow tie off of it. And he’s actually started another channel called 177 Milk Street Cafe, which is actually linked to what the studio is in Boston. He’s a person from New England, but what’s so great about America’s Test Kitchen and even the way Milk Street Cafe does their recipes is they really do test everything and it looks more like a lab and experiment really trying to figure out why is it that the science behind cooking works out as well as it does. So anyway, we’ve got that link for helping you grill and it folds in perfectly to the theme for this Five Fact Friday which is Independence Day.

The next link is what I’m watching and you’re not gonna believe it, but we’ve got a New Jersey and that is exceedingly charitable. He’s flying around in his homemade paragliding helicopter thing, just dropping random acts of kindness and generosity. And you got to check out the video as he drops out gift cards to people all around. So you might want to check that out.

What’s new in technology is look at there. Isn’t another thing out there that isn’t susceptible to the uberization of life, and now we’ve got the newest iteration of that, which is lawn care. You know, if you thought that the only reason that you could use the form of Uber was to get a ride, you can now use an app to get somebody to come and mow your lawn, all you have to do is register for it and check out the link off of it to see whether or not you might benefit from having a Uber-based door dashy lawn care service. That actually might work out in the end.

Next link is what’s new in legal. It’s actually a pretty complicated topic because it’s talking about child care or child tax credits that are starting to come out this month, some people, but 92% will be eligible in the United States. We’ll be receiving about $300 per child as part of an ongoing tax credit. Now, before you get too excited about all of this, understand that there’s a number of different rules about whether or not you’re gonna have to claim that as income, whether or not you’re gonna have to pay that back. And before I give any specific advice, I’m gonna first encourage you to follow the link and read up on it. And second is engage with a professional advisor, like our office to help you determine whether or not you should be planning for or around this tax credit. You know, this element of tax planning is one of the panels that we put together in a make it last plan that we think everybody should have as they kind of navigate their life. There’s four important principles of what we’re dealing with. We’re talking about income investments taxes and estate planning. Each one of those has an area that most people need some attention and should have a plan around. And that would include what we’re doing here with the childcare tax credits that are starting to come out in this month. So check that out.

The last link is what’s new in retirement and actually compares the growth of a house plant to your retirement plan. And while it centers on business owners and the struggles that they have, having enough in savings for their retirement, the principles are exactly the same. And we actually believe a lot of what the author is talking about in there, which is really focusing on the care and nurturing of what you’re doing with your savings plan and your retirement planning because we really do believe that retirement planning is an activity that really the people that do it ahead of time and really focus on getting it done the right way, tend to benefit more than any one else.

So I’m gonna leave you with the secret to life, which we do every once in a while, and we’re gonna do this special for Independence Day, but before I do, let’s recap the links for this week. What I’m reading is the best grilling techniques and the science behind it. What I’m watching is random acts of generosity from New Jersey guy who’s just throwing gift cards out. What’s new in technology is using an Uber Like App to get your lawn care done. What’s new in legal is the child credit starting at $300 with a lot of intricacies that you’re gonna wanna read up on. And finally, what’s new in retirement is why and how growing your house plan is like your retirement planning.

Now the secret to life. If you’re gonna be grilling this weekend, and you can eat meat, which I like to do, I’m gonna suggest you do this with the following, get some Italian sausage and grill it on the grill. You have a nice char, you might even wanna butterfly it, getting it nice and chart on both sides. I’m just gonna add a lot of favor to it. And when you get it back inside, you wanna slice it up into small pieces, get some toothpicks, put them in there and then squeeze some fresh lemon juice on top of it. The marriage of the citrus that’s in the lemon juice with the pork is outstanding. In fact, there is so many ways that you can marry the two pork and citrus are always a great combination. Try my grilled sausage and lemon recipe and tell me what you think about it. Other than that, have a wonderful Independence Day. Enjoy celebrating with family. Hopefully we’ll get a break from this crazy hot weather by the time that you’ve watched this and maybe we’ll have some great weather for grilling, but anyway, we’ll catch in a couple of weeks on the next Five Fact Friday. See you soon.