Latest news with #Zoeller
Yahoo
30-06-2025
- Business
- Yahoo
How to turn $1,000 into $1 million, according to a top wealth advisor
It's the dream of many to become a millionaire, and even those starting with just a little dough can achieve this goal with careful planning. While selecting the right investments is essential, one other factor is still more important if you're starting out with a relatively small nest egg: time. Bankrate spoke with a wealth advisor to get her take on how to turn $1,000 into $1 million and what you need to do to supercharge your wealth. You can sum up the process in three simple steps. Even more than picking the right investment, time is the most important element in turning small money into big money. A few extra years of compounding your money can really have a huge impact on the total snowball you can roll up. 'Start investing as early as you can,' says Andrea Zoeller, wealth manager and partner at Merit Financial Advisors in the Sheboygan, Wisconsin, area. 'There are several studies that show an investor that starts early and saves often can end with a portfolio value larger than one who starts later in life.' How powerful is starting now? Let's use a simplified example, where you invest $1,000 each year, to show the value of starting early. You start investing at age 22 and invest $1,000 annually with 10 percent annual returns. If you retire at age 62, you'll have saved $40,000 over those 40 years, but that money would have compounded to more than $440,000, assuming no taxes. You start investing at age 32 and invest $1,000 annually with 10 percent annual returns. If you retire at age 62, you'll have saved $30,000 over those 30 years, but that money would have compounded to more than $160,000, assuming no taxes. 'The money has been invested longer when someone starts earlier in life and will have more time to generate compounding interest in the lifetime compared to someone who didn't start until later in life,' says Zoeller. The tax laws favor investments, too. You won't pay any taxes on your capital gains until you sell the investment, meaning you can compound your wealth for decades without the drag of taxes. Does 10 percent sound like too high of a return? In fact, every investor can purchase an investment that's returned about 10 percent on average over time. No special skills or connections needed. Learn more: Planning to retire in 10 years? Do these 6 things first You might think that you need to trade in and out of the market with the very best investments to build a million dollars. Sure, it's better to have the best investment, but you'll do just fine over time with a consistent performer that delivers solid returns in most years. The best solution? Invest in a low-cost index fund, says Zoeller. An index fund owns all the stocks in a stock index, and it earns the weighted average return of all its holdings. A fund based on the S&P 500 index, which includes hundreds of America's top companies, has returned about 10 percent per year on average over long periods. These kinds of funds are accessible to anyone with a brokerage account, and you don't need specialized expertise to purchase them. Low-cost funds keep more of your money working for you, and you have many choices among them. The best S&P 500 index funds charge low fees — typically less than $10 annually for every $10,000 you have invested, and some even just $3 — so you can invest in a solid index fund and enjoy strong returns over time at a low cost. MORE: See Bankrate's list of the best index funds in the market It can be easy to overlook, but you are your own worst enemy when it comes to investing. That's because you'll sabotage your progress by doing things that you think are safe or smart. For example, it's easy to sell when the market is rocky and the economy looks rough. 'Time in the market is more important than timing the market,' says Zoeller. 'Missing out on the best positive days in the market because you are trying to time the market has shown to erode investor returns over time even when staying invested during down markets.' So if you're looking to achieve the returns of the index funds you're invested in, you'll want to stay invested. Plus, staying invested allows you to avoid paying capital gains taxes on your profits. If you sell a winner, you're guaranteeing that your bankroll will decline in value. 'Be patient,' says Zoeller. 'Building wealth is a marathon, not a race. It takes a lot of time and consistency.' While our example uses $1,000 as a starting point, if you can add money to your portfolio over time — especially when the market falls — you can continue to earn attractive profits. You'll supercharge your race to $1 million. Learn more: How to build a financial plan for you and your family So that's how you can turn $1,000 into a million — give yourself plenty of time, buy a strong index fund and then hold on. Here are some other useful tips for building wealth. Avoid selling after the market has gone down. 'This is the No. 1 mistake that will erode your returns over time because there is no telling when you will get back into the market,' says Zoeller. 'Oftentimes, by the time you get back in the market, it is after the recovery has happened, so you are consequently selling low and buying back at the top before possibly seeing another fall in the market.' Take advantage of tax-free accounts. If you're investing for retirement, it makes sense to use a 401(k) plan or an IRA. Both accounts allow you to defer or avoid taxes on gains, allowing you to compound your money even faster. Your employer's 401(k) plan may also pay you matching funds if you make a contribution, and it's the easiest return you can ever make. Watch out for emotional decision-making. When the market becomes volatile, it can feel safe to sell first and ask questions later. 'Be careful about making irrational decisions based on emotion or what other people are doing before understanding the meaning of what is happening in the markets,' says Zoeller. If you sell a winner, you'll lock in taxes and you'll slow your ability to compound your money. Work with a professional. Working with a financial advisor can yield a ton of benefits. 'A professional can guide you through market volatility and educate you on how to make smart investing decisions and avoid the mistakes in investing,' says Zoeller. Get started: Match with an advisor who can help you achieve your financial goals Time is your biggest ally when it comes to building wealth, but you can really help yourself out by investing in a strong index fund and then holding on to it. You'll also grow your wealth faster if you're able to keep adding to your account each week or month and get more money working for you. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
22-04-2025
- Business
- Forbes
A New Jefferson's Reserve Cask Strength Release Is Simple And Elegant
Jefferson's Reserve Cask Strength Elevate Business Photography Jefferson's Bourbon is probably best known in some circles for its ocean-aged and finished whiskeys. Its newest release aims to create a memorable pour with a more straightforward approach: unfiltered, uncut Kentucky straight bourbon whiskey, blended and bottled at cask strength. Jefferson's Reserve Cask Strength is a limited-time version of Jefferson's Reserve, a bourbon that's served as the brand's flagship for years. The brand calls it a 'high-proof evolution of the iconic Jefferson's Reserve.' After an early taste (more on that below), we can say the resulting whiskey is bold, fruity, and accessibly drinkable, even at its high proof. The bourbon ultimately rides a fine line between brightness and oak. Like the flagship and always-available release, Jefferson's Reserve Cask Strength is a marriage of sourced Kentucky bourbons, with blending overseen by Founder and Master Blender Trey Zoeller. But while Jefferson's Reserve is bottled at 90.2 proof, this cask strength release topped out at 130 proof (65% ABV) after blending was complete. According to the brand, the youngest bourbon in the blend is eight years old. Jefferson's was founded in 1997, a joint project between Kentucky native Zoeller and his father Chet, a respected and well-known bourbon historian. The brand was among the first to popularize sourced and blended American whiskeys. Today, some of its earlier bottlings—especially the Presidential Select series—remain among the most celebrated releases of the early 'Bourbon Boom' period from around 2008 through 2015. Its Jefferson's Ocean line started as an experiment to age bourbon casks at sea and has since become a hallmark of the brand. Pernod Ricard acquired the brand in 2019, and Zoeller stayed on in a directing and blending capacity; today he remains heavily involved in new product development. 'With this cask strength release, we're peeling back the layers to reveal the whiskey in its most authentic form—untamed, uncut, and packed with intense flavor,' said Zoeller in a company press release. We had a chance to try Jefferson's Reserve Cask Strength for ourselves. The nose is big and bold, with a sweet, confectionary nose that matches the whiskey's 130 proof almost punch-for-punch. A medley of spiced fruit cobblers lead—think peach, apple, and berry topped with golden brown dough and sprinkled with cinnamon—followed by rum-soaked raisins and cherry cough drops. While there's plenty of ethanol on the nose (though it's never overpowering), the palate isn't as hot as one might expect. Instead, more fruit leads, especially maraschino cherries. That quickly transitions into vanilla cherry cola and raspberry compote. The finish leans into cream soda, oak tannins, and a hint of chocolate truffles. That oak is both noticeable and restrained, and Jefferson's was pretty clearly intentional releasing this at eight years; the whiskey rides a fine line between fruity, peppery youth and tannins that become dominant as most bourbon approaches the decade mark. Jefferson's Reserve Cask Strength is a limited time offering, available as of April across the United States. It carries an MSRP of $69.99 for a 750 mL bottle.
Forbes
01-04-2025
- Entertainment
- Forbes
These Whiskeys Honor Spirited Women's History
The Compass Box Hedonism label with artwork from Sofia Bonati. I've been writing about whiskey for well over a decade, and every year the field grows more diverse with women owning brands and working throughout distilleries including in leadership positions like master blender and master distiller. But it surprised me at a Compass Box tasting last month that while women have taken a part in distilling, since, well, distilling existed, the first time a female form was on a Scotch bottle was for Hedonism, the first blended grain Scotch to ever be released on the market in 2000. It got me thinking — what other whiskeys could I think of that put women front and center on the packaging? Here are a few I thought of that had interesting backstories — and great liquid inside. Jefferson's Marian McLain Bourbon Marian McClain from Jefferson's Jefferson's, known for its bourbon aged at sea, put out this limited release in 2023, and it's one of founder Trey Zoeller's favorites. It honors Zoeller's eighth generation grandmother, one of the earliest documented female bootleggers and whiskey runners in history, Marian McClain. Whiskey expert Fred Minnick gives her a shoutout in his 2013 book 'Whiskey Women: The Untold Story of How Women Saved Bourbon, Scotch, and Irish Whiskey.' Minnick wrote she was arrested in 1799 in Georgia for illicit distillation. Zoeller said making whiskey — and not paying taxes — was a necessity born out of needing to support her five children after her husband Angus died during the Revolutionary War. The bourbon is a blend of five different components, each honoring one of McClain's children. The brand is set to release the second edition in June of this year, with five different component whiskeys. Zoeller told me it was important for him to honor the 'badass women' in his life and his lineage. One of those women was his grandmother. 'When you went to her house, she didn't ask you what you wanted to drink, she asked you how you take your bourbon,' Zoeller said, adding that his grandfather died when he was two months old, and his grandmother took over running the bowling alleys they owned, becoming the first female president of the Kentucky Bowling Association. And while brands can sometimes target lighter blends for women, Zoeller said once women enter the category, they gravitate towards the stronger stuff. 'Women typically prefer higher proof bourbon and more flavorful bourbon,' he said. 'They've got a better palate. They are able to taste more flavors and articulate it. Mary Dowling Kentucky Straight Bourbon Whiskey finished in Tequila Barrels Mary Dowling Kaveh Zamanian, started deep diving into Kentucky bourbon history when he founded Rabbit Hole in Louisville in 2012. He came across a brief mention of Mary Dowling and a distillery in Juarez in an article and found her really intriguing. Mary and her husband John Dowling owned three distilleries, including Waterfill & Frazier. After her husband died in 1903, she took over running the distillery, and when she was deemed a credit risk she helped recharter a bank. Things get even more complicated during prohibition — dramatic enough that Zamaian patterned to write a book about her life with historian Eric Goodman, coming out in April. Eventually Dowling and her sons relocated the Waterfill & Frazier distillery to Mexico. After Zamanian launched Rabbit Hole, a relative of Dowling purchased the Waterfill & Frazer mark, and reached out to Zamanain to find out what he knew about the brand. Zamanian doubled down on his research, hitting libraries and talking to local Kentucky families, and ended up purchasing the marks for Waterfill & Frazier and Dowling Brothers himself. 'When I started thinking about recreating or resurrecting the brands, I ultimately decided that it probably would be more appropriate to put her name on the bottle,' Zamanian said. 'The brand came to be as a way of trying to celebrate the person behind the brands that was never on the bottle as the marquee name because of the times.' Zamanian said it took him a while to figure out what sort of whiskey they were producing at Waterfill & Frazier, but eventually learned that Robert Gould owned the distillery a bit, and that the recipe there eventually became Wild Turkey. He had already started planning the whiskeys for the Dowling brand, and the high rye bourbon that he ended up finishing in tequila casks as a nod to Dowling's ties to Juarez is only very similar to the mash bill at Wild Turkey. Two other expressions are wheated bourbons, one finished in toasted barrels and the other finished in two different oak barrels at cask strength. While Zamanian doesn't have evidence she produced wheated expressions, he thinks they are fitting. 'I felt she was not only such a strong and formidable person, but had such grace and character, and II wanted to bring a whiskey to the fold that was a little bit more sweet and softer in some ways to represent a feminine presence.' Maker's Mark Spirited Women Initiative Maker's Mark, Spirited Women's Initiative When Maker's Mark was founded in 1953, 'Bill Samuels Sr. focused on crafting his premium bourbon, our co-founder Margie Samuels did just about everything else,' said Valerie Netherton, the Director of Higher Purpose at Maker's Mark. 'She wasn't just a visionary, she had the credentials to back it up, graduating top of her class from the University of Louisville with a degree in chemistry. But beyond science, she had an incredible eye for design and a deep appreciation for the arts,' Netherton said. Margie is the one that came up with a lot of what Maker's Mark, well, Maker's Mark. She came up with the name, inspired by English pewter where artisans would stamp their 'mark' as an indicator of quality. She came up with the font, the hand torn label, and rather than a rectangular shaped bottle, she liked one that had a rounded shoulders and long neck to make the 'glug glug glug' sound when poured, Netherton said. To top it off, it was her idea to hand dip every bottle in red wax. While Margie's face has appeared on some editions sold exclusively at the distillery, the largest large scale release the brand has done with a female form is a collaboration with Gayle Kabaker which buyers can personalize with the names of women in their lives who have inspired them. It debuted last year during Women's History Month and was popular enough to bring back for a second time. 'For every personalized label ordered through we're donating $1 to Vital Voices, something we know Margie would have been incredibly proud of,' said Netherton. Vital Voices is a nonprofit that helps foster women in leadership positions. Hedonism from Compass Box In 2023, Compass Box, an independent bottler that blends existing whisky rather than distilling any of its own single malts, discontinued the ongoing release of Hedonism and now releases it once a year as a limited edition, along with a new twist on the blend and a new label from female artists. For the 2025 edition, the bottle features artwork from Argentina Sofia Bonati, who drew inspiration from the magnetic fields that are integral to how a compass works. She layered pencils, watercolor and acrylic gouache to create a woman that's boldly staring out from the bottle. The blend features single grain from Cameronbridge distillery that was aged an additional two years in a first-fill Marsala barrique and blended with two single grain whiskies from Girvan Distillery, that were from past vatted iterations of Hedonism (a 16 year old and 19 year old). The result is a caramel whisky with notes of peach and pear, with more cocoa and vanilla on the nose. "The way that Sofia has captured the essence of the original Hedonism woman in her own style is incredible,' said Assistant Whiskymaker, Michael Stephenson. 'She represented the unique elements of this edition's recipe and taste profile through color that really draws the eye.' This is not an exhaustive list — and hopefully more will be added to it. It's also worth checking out Milam & Greene, named for it's female founders and Grace O'Malley, named for an Irish pirate queen.
Yahoo
30-01-2025
- Politics
- Yahoo
Defenders of Nebraska's ‘blue dot' come out in force against winner-take-all at hearing
A crowd of testifiers waits to speak to the Legislature's Government, Military and Veterans Affairs Committee Thursday about proposals to shift how the state awards its Electoral College votes. (Courtesy of Tom Becka) LINCOLN — Nebraskans came out in big numbers Thursday to criticize — but mostly to defend — the state's unusual system of awarding Electoral College votes for president by congressional district. State Sen. Rita Sanders of Bellevue, chair of the Government, Military and Veterans Affairs Committee, anticipated overflow crowds and made space for them in an adjacent room and hall. But many would-be testifiers left before speaking, with some expressing frustration about long lines. Many of those who stayed represented political parties or civic groups. Differences were palpable in the first public hearing on the issue without the urgency of 2024 election-related pressure from President Donald Trump or his campaign surrogates. Chief among Thursday's differences was the makeup of testifiers: More people spoke this time in support of preserving the current district method of awarding electoral votes than testified against it. Last year, Trump spoke with Nebraska state senators, as did local consultants helping his campaign. That was when both parties worried the Omaha area might break a national tie in the Electoral College. Trump was still a factor this week, with fears of the president's displeasure motivating Gov. Jim Pillen before a possible 2026 GOP primary race with a top Trump donor, Charles Herbster. Legislative Bill 3 by State Sen. Loren Lippincott of Central City would shift Nebraska to awarding all five of the state's electoral votes to the statewide winner of the presidential popular vote. Nebraska and Maine, uniquely among states, award a single electoral vote to the winner of the presidential popular vote in each congressional district. The other 48 states award all electoral votes to the statewide winner, which is often called 'winner-take-all.' Legislative Resolution 24CA, a proposed constitutional amendment from State Sen. Myron Dorn of Adams, would have voters consider a similar change. Pillen's policy research director, Kenny Zoeller, testified in support of Lippincott's LB 3. He argued Nebraskans should move to winner-take-all and need to retain the flexibility to change again in the future, which Zoeller said a constitutional amendment like Dorn's LR 24CA wouldn't allow. 'The promised benefits of the current system have been exaggerated or just not met,' Zoeller said. Most Republicans who spoke backed the Nebraska Republican Party's decades-long push to shift to winner-take-all. Most Democrats backed the Nebraska Democratic Party's change from the 1990s under former Gov. Ben Nelson that split the state's electoral votes. And some Nebraskans bucked party and geography, including Warren Phelps, chair of the Cheyenne County GOP who said he wants to keep the district system so rural Republicans in the 3rd Congressional District always have a voice. He said the GOP majority in the officially nonpartisan Legislature should consider the changing demographics in the state and the population growth in the Omaha and Lincoln areas. He said Republicans might one day appreciate having the district system if the state blues up over time. He said he and other rural Republicans do not 'want to be drowned out.' 'Competition makes everybody better,' Phelps said, adding that the GOP should compete for Omaha votes. 'It forces candidates to come up with ideas. Ideas that … help the whole country.' Ron Cunningham, who described himself as a longtime Republican, argued that no Nebraskan should want other people's votes to count less and that the district system works. 'Republicans continue to talk about and promote unity and fairness, but they don't want those votes to count,' Cunningham said. Michael Tiedeman, a Sarpy County Republican, said the state GOP wants the change to reduce the amount of outside spending on Nebraska elections, including the presidential race. He said keeping the so-called 'blue dot' would lead to greater competition during redistricting to gerrymander the Omaha-based 2nd Congressional District that's been up for grabs. He pointed to suburban, exurban and rural Washington County as an example of what could happen. That county has been in all three of the state's U.S. House districts in recent decades. 'This district was a political experiment that did not make sense in the 1990s, and it does not make sense in 2025,' Tiedeman said. 'Please get this bill out of committee.' Jeanne Reigle, a former legislative candidate from Madison who is government relations director of the Nebraska GOP, said the outside spending concentrates more money and power in the east. She said small rural communities and their needs too often get drowned out by the national and local focus on reporting from the up-for-grabs 2nd Congressional District. 'They're hurting,' Reigle said. 'They're dwindling. There are very few rural senators left. And very few left involved with agriculture.' Liz Abel, who lives in 'blue dot' territory in Omaha, said she supports winner-take-all. The Republican said dividing Nebraska's electoral votes 'splinters our electorate' and adds to divisions between rural and urban Nebraska. She also said she would like to receive less campaign mail from Democrats like former President Joe Biden or nonpartisans like former U.S. Senate candidate Dan Osborn. She said she hoped getting rid of the district system in ruby red Republican Nebraska might lead Democrats to spend their money elsewhere. 'I believe having a split vote diminishes our state's influence,' Abel said. Preston Love Jr., a civil rights activist in North Omaha who ran for U.S. Senate as a Democrat, said the move by the majority feels to him and others like voter suppression. He echoed statements from the campaign trail where he said black and brown Nebraskans already vote in lower numbers and getting rid of district-level electoral votes would depress turnout. Democrats and Republicans split the past five presidential elections in the 2nd District, with Democrats winning the district in 2024, 2020 and 2008 and Republicans winning it in 2016 and 2012. Republicans won statewide each time. 'Listen to a segment of your community, your state, a whole congressional district to let our votes count,' Love said. 'I think everyone in Congressional District 2 feels that way. 'Are you just ignoring us?' Melina Arroyo, who said it was her first time speaking to a legislative committee, told senators Nebraska should not change what makes it stand apart in a good way from others. She said voters benefit from the attention being paid to a state that in no other way would qualify as a swing state. Republicans outnumber Democrats more than 2 to 1, with nonpartisans growing. She said the district system 'ensures that the voices of all Nebraskans are heard.' Arroyo argued that voters of every political persuasion feel more involved here. 'It shows that we value diversity and fairness in how votes are cast and counted,' she said. Lippincott, a Republican, said he was encouraged to see the turnout, that it showed a government for the people. He argued that 'having winner-take-all is unifying.' Dorn said he would support Lippincott's bill but that his proposed constitutional amendment should be treated as a fallback position in case LB 3 stalls. State Sen. John Cavanaugh of Omaha, a Democrat, said there was nothing unifying about wanting to 'diminish the value of the votes of these people.' The Government Committee still must vote on whether to move the measures to the legislative floor. That vote could come as early as Friday. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
