EP. 402 | Living Local 15 | Lifestyle Talk Show (August 26, 2024)

[Music] good morning and welcome to living local 15 I'm your host Jessica Williams thank you for tuning in today and happy Monday to you you already know it's time to kick it off with some motivation here's the quote in any given moment we have two options to step forward into growth or to step back into safety let me say that again in any given moment we have two options to step forward and growth or to step back into safety imagine a world where you stop playing it safe run fully towards your goal and step outside of your comfort zone it may sound scary but ask yourself who are you playing it safe for yourself or are you playing it safe for other people and what they may think well I'm going tell you something who cares what they think choose growth and choose yourself now on to Today's Show first up I am taking you inside of o Tai Thai restaurant which is an authentic Thailand Cuisine pod located at electric works this business is familyowned so I chatt it with their daughters and tasted some of their popular dishes then it's money Monday with Foster financial and Caleb breaks down what capital gains is and how to use it strategically for your Investments are you ready that in more Happening Now fashion food and fun you're watching living local 15 with with your host Jessica [Music] Williams I am at oai Thai restaurant located at electric Works Union Street Market they offer authentic Thai food and I'm going to speak with their co-owners try out their food because that's just how they roll [Music] I am now joined by Tasha so who is a co-owner here hello hi how's it going good how are you good okay so the food smells so good I have to say I can smell it it's right here behind us and congratulations to you all so this is a family run business that has been around for 5 years so tell me about how you all got started absolutely so we started back in 2019 at the farmers market and we were able to expand two farmers markets and for the past 5 years we've been at the markets every Saturday and we finally were able to expand to our first physical location here at Union Street Market um and we were able to grow a great base with the farmers market and we are just so happy and excited to finally have a place where you guys can come grab our food every day right I love that building up from one spot and just Mak it into a really cool establishment here with so many different options and so this is a family fun Dynamic so tell me you all in your family is a part of this buiness absolutely so my mom is the owner and the chef and often times you'll see us like my sister and I or her cooking your food every day um we also have our dad who helps out a lot but this is a family-owned business and it's really important to our core yeah because this is um a Thailand Cuisine so tell me about just the roots and how the recipes came about absolutely yeah so this um about 30 years ago my parents immigrated here from thail and it has always been my mom's dream to open up a business and share her home recipes with the world so a lot of the foods that we have here are foods that we grew up eating and that my mom made for us and we are finally able to just be able to share with everyone the homecooked meals that my mom made for us back when we were little yeah I love that so this is authentic and it you know true recipes and what do you want for people to really experience or walk away with after they have your food yeah after we people have our food we really want them to feel like they've taken a bit of Thailand with them and really experience all of those real authentic flavors and also be a part of our family CU like I said you'll see my sister here or I here or my mom cooking these meals for you guys every day and we just want you to feel like you're a part of our Thai family yeah absolutely okay well this is so great you have to tell me what is one of your favorite things on the menu absolutely my favorite thing is the chicken fat tie I love to put a lot of spice on it and it's um a traditional thae dish and it's one of our staple and bestsellers here okay well you know what time it is it's time for me to taste some of these dishes and let you all know what I think let's do [Music] it and now joining me is Tyler so a co-owner here at oai Tai hi hi nice to meet you nice to meet you too okay so I've learned so much about your business from your sister love how you all work together what is that like it's amazing it's a I really honored to be with my family every day I like being around my sister is my best friend so with being with her every day it just like makes job easier and time goes by so fast so it's all amazing yeah exactly and you are sharing a piece of your heritage and your and your um parents' home with us so that's so great so we have so many different delicious dishes as you all can see like oh my goodness I cannot wait to taste but we're going to start with the appetizers right yes okay so let's start here what am I looking at yes so here is a turkey egg roll and a beef Samosa we have some vegan options here as well if you to try those but these are we started on at the farmers market with so we had these and then we had our drinks here yeah at the farmers market so the beef Samosa has potato based filling and lots of different seasonings and spices a lot more flavor than the egg roll but our egg rolls we have turkey and vegan both have cabbage noodles onions garlic different seasonings to them as well we make these every single day handcrafted my mom and my sister roll each one one of these every single day really yeah wow it's very is that an art there has to be a talent to getting the perfect roll on that egg yeah it's definitely something M mhm yeah these are my favorite actually M you all can hear that crunch so good so flavorful I like and it seems light like it's not too heavy so it's a good item to start off with which is great and then you say you have your vegan options as well yes and then what types of drinks are these so this is Tai tea and Tha coffee they're both pretty sweet they both have a really unique flavor to them they're nice sweet milk tea and you'll get to try it so really it's a little hard to describe the tea especially it's got such a unique flavor to it so this one's tea and this one's coffee yes okay oh look at this color and for both of these we have dairy free Alternatives as well ooh so what type what kind is this it's like a black tea base and then it has mix some other herbs and spices I'm going to give a little mix there get all the milks and creamers Blended very refreshing M nice okay and then a cold coffee coffee is my favorite M Coffee yes keep it going throughout the day getting all that rolling okay fun drink options here okay so now let's dig in I'm so excited okay so let's start here with this beauty okay this is our chicken pie to you we have tofu as well and you can make it spicy we've got some chili flakes for you here this is I think your sister's favorite dish okay she loves it she's the best at making it it's a wine rice noodle and it's mixed with like a soy sauce face sauce and I called Chinese broccoli in it it's got chicken egg lots of different seasonings get that chicken m and what type of vegetable is this it's called Chinese broccoli mhm it's got like a nice crunchy stem and a nice soft leaf that absorbs the flavors a lot very flavorful M I love greens mixed in okay that is good oo yes this one this one's special this one is a famous thae dish it's called chicken pad thae is our favorite and our bestseller as well so it's a rice noodle with a peanut sauce it has bean sprouts chives eggs and then it's top with some more fresh bean sprouts it's got some fresh crushed crushed roast roasted peanuts on top a lime and then you can have some pepper as well if you'd like yeah let's put a little pepper optional little spice on it I like it a little spicy for sure yes okay here we go it's my favorite so good wow M okay I love just that combination of that crisp and then the flavors it's like a Tangy Sweet and Sour and then that peanut butter just makes it real earthy and really smooth and then of of course the noodles being small add the little chicken bites in it it's light but it's still so filling so good okay so this last item here yes is what this is our chicken fried rice another Thai staple so it's stir fried rice with a chicken eggs and sort of vegetables and our housemade sauce ooh okay I love the vegetable inclusion you know and these recipes like gives you that extra nutrient and health okay yes for this one we have have a spicy chicken fried rice as well if you wanted something spicy that one's got basil in it some Thai Chili Peppers but we also have vegan options for all three of these as well M mhm there there's basil the spicy chicken fried rice has basil in it yes but I do changee the herbs m in this WOW cabbage mhm M okay now talk to me about some of the other options that you have on the menu yeah so during the weekdays we have a lot of different options we have a lunch menu for those we change them up every single day so we have lots of different Cur curries and stir fries we do different vegan options we have a lot more every single day you can come in and find something new on our menu ever on lunch time is the best time to yeah oh my goodness okay so good yes and the best for last okay what are those so this is our mango sticky rice this has coconut sticky rice on the bottom it's a sweet rice so it's mango on top my mom and my sister made it into a lovely little Rose here and it's got this coconut sauce here and you pour it on top it's like a sweet coconut sauce and it Blends together perfectly the rice and The Mangos so you say what type of sauce is this or cre this is a coconut sauce oo every day really I love that authenticity okay I just sprinkle it mhm or sprinkle it but pour it so pretty the rose my goodness okay I've never okay oh yeah just easy to pull it right out okay looks good let's taste M wow that is good wow okay I'm going get down to the rice part it's like if I had to describe it I'll say it's just so smooth and just like delicate and it's a um hint of sweetness which is great and and um it really I love the combination of that Coconut and Mango now I have to dive deeper and you say it's sticky rice at the bottom coconut sticky rice on the bottom coconut sticky rice okay and then and then you all cut it in a way that's so easy just to pick up pieces it's nice it's like still a healthy dessert fruits your antioxidants okay yes yum yum all right guys well this was so good to taste you all have to taste it yourselves but it's time for me to do Jessica's favorite pick okay I'm nervous I know I don't know okay drum roll it is that peanut chicken chicken pad tie Pat tie that one's my favorite as well yes oh my goodness okay yes that is the best but you all they have so many different options that you can come and taste throughout the week thank you so much thank you for having me all right guys now is the time to check out their website learn all about this restaurant and choose what you want to come in and try they are located at electric Works Union Street Market and I'll see you after the break have an idea for the show want to find out how you can be a guest contact us at Living loc5 wayne.com [Music] this segment sponsored by Foster Financial welcome to Money Monday where we provide you with holistic Financial advice from Foster financial and joining me today is their vice president Caleb D good morning good morning how's it going it's going well how are you doing good okay so today we're going to talk about capital gains and this is a topic that we have not discussed yet so what are capital gains yeah yeah so I feel like there's a lot of misconceptions around capital gains uh basically what they are kind of an example is if somebody buys a stock in their individual account let's say for $100 and it grows to $150 there's a $50 unrealized capital gain and it's unrealized because they haven't actually sold the position yet so they still own that stock that's now worth $150 if they were to then sell that share of apple or whatever it is then they would have a realized capital gain of $50 and it's when they actually sell that position that creates that taxable event where at the end of the year they would they would owe capital gains taxes on that position uh but there are only certain accounts certain investment accounts that are actually subject to capital gains so your you know 401K that you rolled over into an IRA let's say that actually is not subject to capital gains taxes at all um it's only non-qualified brokerage accounts and so these would be like individual accounts joint accounts trust accounts and they're they're kind of very different on how they are treated from a tax perspective so thought it'd be important to kind of break that down right okay so that there's a lot there so basically the difference between what you put into the investment and what you can get out right so that gain is that something that takes time to accomplish or is that something that's automatic if you were to immediately withdraw your your money yeah so I mean that that gain that if you bought that stock for $100 I mean who knows that could take years to grow to that 150 um or it could never grow to the 150 you know ideally it it grows but if you do have that gain and you sell it that's when you kind of realize what they call realizing that capital gain um but those different accounts are are very different from tax perspective so with an IRA which a lot of people are probably really familiar with an IRA the taxable event is not selling within the account okay so within the account you could have that same situation in an IRA where you bought a security for $100 you could turn around and sell it for $150 a few years later and as long as it stays inside that account as cash or gets reinvested into something else it stays within that Ira shell or wrapper yeah and it wouldn't cause any taxes for you it's only when you withdraw it that it causes taxes with the other types of accounts those non-qualified brokerage accounts like an individual or a joint account you could never withdraw the money but if you sell that that security for $150 in there all of a sudden you owe taxes at the end of the year and so we have to be really careful selling those positions with an IRA it's very easy to rebalance them so in years where we want to sell out of a certain position if we think it's prudent to diversify away from something maybe we sell out of apple and we go into Microsoft it's very easy to do do that within an IRA without causing taxes within that non-qualified account if somebody has that share of Apple with thousands and thousands of dollars of realized or unrealized sorry capital gains as soon as we sell Apple it could cause a big tax bill for them so we have to be very careful with those types of accounts okay and those are only taxed at the end when you're about to withdraw it this is not an annual type of tax that's on there correct so on those non-qualified accounts the taxable event is right when you sell and so if I sell it you know today for that $50 capital gain I don't necessarily owe taxes today you'll owe it uh you know come tax time at the end of the year but today is that taxable event when it occurs okay and then let's talk about the amount of time just so people can understand what the goal is here so it's not an immediately an appreciated amount so they don't automatically get that gain but over time they do and so is there a strategy that you all look at as Financial advisors when you're trying to figure out what best accounts will get the most gain yeah yeah so that that's a good question we we certainly take a look at the taxability of the account to determine how aggressive or how conservative the account is going to be um generally capital gains taxes are actually less than your ordinary income tax which is what you'll pay if you withdraw from an IRA so if those capital gains taxes are less sometimes we want more growth oriented positions mhm in those accounts than what we would in like an IRA so we're always trying to manage those taxes probably the the biggest thing that that viewers should maybe take away from this is that there are a lot of people that have these brokerage accounts that have very large positions with very high capital gains and they feel like they can't do anything with the account because they know oh if I sell this I'm going to have to pay a ton of money in taxes so they might have you know been purchasing Apple stock for their entire life or in Microsoft stock or whatever it might be and they could have a couple hundred, worth of that stock and it has a ton of capital gain on it and they might say now I'm older I don't really want to ride that roller coaster anymore you know Apple stock it can go down 30% in one year it can go up 30% in one year or maybe they have positions from local companies maybe they worked at Steel Dynamics or new core rathon or something and they have a lot of those positions they want to diversify away from it but feel like they can't because of capital gains and so there's a lot of strategies that we can use there's tax loss harvesting where we basically take a loss on a different position and offset it by the gain or we could simply diversify over time and we could say look you're in this certain tax bracket you have this much room in the tax bracket let's realize $10,000 of capital gains every single year until we fully divested okay W that's interesting so the um big takeaway though is that capital gains May tax you but you want capital gains right you want it to earn exactly yeah that's that is kind of The Catch 22 it's like it's a good thing to have capital gains but of course you don't want to share your gains with the government too much right it's like you can't if you don't have anything to tax then you can't tax we want a little something but we have to do it smart so that's why having a financial advisor is so important so thank you Caleb yeah you're welcome and if you would like more information about Foster Financial we'll have their phone number listed below to check out their complimentary consultation and I'll see you after the break this segment sponsored by Foster Financial follow us on social media at Living local 15 [Music] well that's our show for today thank you so much for tuning in and remember you can always catch up on episodes and segments of living local 15 by going to wayne.com downloading the Wayne app and also checking us out on YouTube and I'll leave you with this in any given moment we have two options to take a step forward into growth or take a step back into safety imagine which one would you choose to take if you had the option option well the option is yours to take the best one and I look forward to seeing you here tomorrow bye-bye living local 15 proudly driven by the Kelly Automotive Group contact segments during today's living local 15 were paid for by these [Music] sponsors e