September 2019 Newsletter

Hello September


Meet Thomas Barnes




Thomas Barnes is a Financial Advisor at Parable Financial Network.  Thomas began his career in 1999 at Edward Jones but he left in 2010 to become an Independent Advisor.  Thomas remembers being told at age 16 by a neighbor what it means to be stockbroker.  Someone who takes people’s money, invest it for them and make more money.  This conversation began the journey which took some years to develop.


Thomas graduated from Auburn University in 1986 with a Criminal l Justice Degree. Serving his community, he gain valuable knowledge and experience into working with people and building relationships.  He is a member of St. Simons Community Church and he is a co-coordinator through the church for the Dave Ramsey Financial Peace University Classes. He has been involved in many community organizations such as President of the Optimist Club.  He has 2 grown sons, Trey and Will and they reside in Brunswick Ga.


Why Work with Thomas Barnes?


Thomas has of love for teaching and providing financial advice for his friends, clients and prospects. He wants to help you in making wise decisions concerning the use of investment and legacy of the wealth God has entrusted you with.







You might say…AGAIN!  Our goal was to get to downtown Brunswick and once presented with the opportunity we didn’t hesitate.   We will be located at


501 Gloucester St, Suite 205


Brunswick Ga, 31520


on the second floor (we now have an elevator!)  on of Sept  3,2019.  Please update all records to this new address.


Labor Day 2019


Labor Day pays tribute to the contributions and achievements of American workers, and Labor Day 2019 occurs on Monday, September 2 (it’s traditionally observed on the first Monday in September). It was created by the labor movement in the late 19th century and became a federal holiday in 1894. Labor Day also symbolizes the end of summer for many Americans, and is celebrated with parties, parades and athletic events.


Labor Day, an annual celebration of workers and their achievements, originated during one of American labor history’s most dismal chapters.


In the late 1800s, at the height of the Industrial Revolution in the United States, the average American worked 12-hour days and seven-day weeks in order to eke out a basic living. Despite restrictions in some states, children as young as 5 or 6 toiled in mills, factories and mines across the country, earning a fraction of their adult counterparts’ wages.


People of all ages, particularly the very poor and recent immigrants, often faced extremely unsafe working conditions, with insufficient access to fresh air, sanitary facilities and breaks.


As manufacturing increasingly supplanted agriculture as the wellspring of American employment, labor unions, which had first appeared in the late 18th century, grew more prominent and vocal. They began organizing strikes and rallies to protest poor conditions and compel employers to renegotiate hours and pay.


 Many of these events turned violent during this period, including the infamous Haymarket Riot of 1886, in which several Chicago policemen and workers were killed. Others gave rise to longstanding traditions: On September 5, 1882, 10,000 workers took unpaid time off to march from City Hall to Union Square in New York City, holding the first Labor Day parade in U.S. history.


The idea of a “workingmen’s holiday,” celebrated on the first Monday in September, caught on in other industrial centers across the country, and many states passed legislation recognizing it.Congress would not legalize the holiday until 12 years later, when a watershed moment in American labor history brought workers’ rights squarely into the public’s view. On May 11, 1894, employees of the Pullman Palace Car Company in Chicago went on strike to protest wage cuts and the firing of union representatives.


On June 26, the American Railroad Union, led by Eugene V. Debs, called for a boycott of all Pullman railway cars, crippling railroad traffic nationwide. To break the strike, the federal government dispatched troops to Chicago, unleashing a wave of riots that resulted in the deaths of more than a dozen workers.


In the wake of this massive unrest and in an attempt to repair ties with American workers, Congress passed an act making Labor Day a legal holiday in the District of Columbia and the territories. More than a century later, the true founder of Labor Day has yet to be identified.


Many credit Peter J. McGuire, cofounder of the American Federation of Labor, while others have suggested that Matthew Maguire, a secretary of the Central Labor Union, first proposed the holiday.


Labor Day is still celebrated in cities and towns across the United States with parades, picnics, barbecues, fireworks displays and other public gatherings. For many Americans, particularly children and young adults, it represents the end of the summer and the start of the back-to-school season.



Pros and Cons of Using TOD Accounts to Avoid Probate


What to Know About Transfer on Death Acccounts


Transfer on death accounts, or simply TOD accounts, have become a popular way to avoid probate in the U.S. A TOD account is a special type of investment account recognized under U.S. state law. When the TOD account owner dies, the investments remaining in the TOD account will pass to directly to the beneficiaries named by the owner outside of probate.


TOD accounts can be set up for investment accounts, including mutual funds and stocks and bonds held in a brokerage account. Some states also recognize TOD deeds. In general, all that the beneficiaries of the TOD account will need to do to access the remaining investments after the owner dies is to provide the investment company with an original death certificate for the owner.


The investments remaining in the TOD account will then be transferred to the beneficiaries named by the owner in the beneficiary designation form on file with the investment company in the percentages specified. Note that if a revocable living trust is named as the beneficiary of the TOD account, then after the account owner dies an employee identification number (EIN) will need to be obtained for the trust before the investments can be transferred to the trustee of the trust.


How to Know If a TOD Account Is Right for You


If you are thinking about establishing a TOD account, then consider the following pros and cons of this type of investment account:


TOD accounts are easy to establish. To establish a TOD account, simply contact your investment company and ask how to open a new TOD account or change your existing accounts into TOD accounts.


TOD accounts pass directly to the beneficiaries outside of probate. A TOD account will pass to the TOD beneficiaries even if the account owner had a last will and testament or revocable living trust and regardless of what the will or trust says. This means that if you name all four of your children as beneficiaries in your will or trust but only two of them in your TOD account beneficiary designation, then the investments remaining in your TOD account when you die will only be paid to the two children named in the beneficiary designation. Therefore, you need to carefully coordinate your will or trust with the beneficiaries you have named for your TOD accounts.


Joint TOD accounts can be established. Multiple owners can maintain a joint account that will pass to TOD beneficiaries after all of the owners die. However, for married couples, after one spouse dies, the surviving spouse will have full control of the TOD account and, therefore, can change the beneficiaries of the account. Therefore, if you and your spouse are in a second marriage and have children from other marriages, then this means that the surviving spouse can disinherit the children of the first spouse to die.


TOD beneficiaries need to be updated as your life changes. As your life changes, so should your TOD beneficiaries. This is particularly important if a beneficiary you have named predeceases you or falls out of favor. Note that if you have a revocable living trust and name it as the beneficiary of your TOD accounts, then each time you change the beneficiaries of the trust you will also change the TOD beneficiaries without having to change the TOD beneficiary designation you have on file with your bank.


Warning: Do not name minors as beneficiaries of TOD accounts. Naming minor grandchildren as TOD beneficiaries of your bank accounts may result in unintended consequences if the grandchildren are still minors when you die. This is because minor beneficiaries do not have any legal authority to receive investments in a TOD account. Instead, a court-supervised guardianship will need to be established for the minor until he or she reaches 18, at which time the minor will have full access to the TOD investments without any strings attached.


So if you should have an Individual Account and would like to add a Transfer on Death Beneficiary, please call the office at (912)387-0111.  It is an easy process and we will be happy to help you.


Lastly, Parable Financial Network would like to thank each of you for being on our mailing list.  We appreciate your business and your friendship. You are the reason we come to work everyday.  Please don't forget to visit our website and our facebook page as well.  If you should know  anyone you believe we can help, please give them our number or even let us know.  We would love to meet your friends and  family and make them ours.  We pray you have a wonderful September month and many blessings to you and your family!


Parable Financial Network