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Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Blog- How Much Would it Cost You to Celebrate Flag Day?

June 14th is Flag Day. Do you celebrate Flag Day? How much could it cost?

| BY Catherine McBreen

Flag Day is one of the least well-known US holidays, although many communities fly multiple flags around municipal buildings on June 14 to acknowledge it.  I always remember Flag Day because it happened to be my grandfather’s birthday and he would line his sidewalk with mini-flags as a tribute to the day (or to himself?).

When I see the flags lining the road in my community on Flag Day, it cheers me up and makes me realize that I should make more of an effort to celebrate Flag Day myself.  Why not put up a flag by my front door or even by my mailbox?  Other than a little effort, how much could that cost?

Well, I decided to investigate the matter a little further.

First of all, Flag Day is based on the fact that a resolution was adopted by the Continental Congress on June 14, 1777 that identified the flag of the US as thirteen stripes of alternate red and white with a union of thirteen stars of white in a blue field.  (As you may recall, we started with only 13 colonies.)  According to the US Department of Veterans Affairs, the observance of the adoption of the flag was slow in coming.  The flag was first carried into battle on September 11, 1777 in the Battle of Brandywine.  Naval vessels first saluted the flag on February 14, 1778.  It flew over a foreign territory in 1778.

The first Flag Day was not observed, however, until more than a century after the flag was adopted.  The first claim of a Flag Day celebration was during a summer celebration in Hartford, Connecticut in 1861.  In the late 1800s, schools all over the US held Flag Day celebrations to contribute to the Americanization of immigrant children.  (Good idea…maybe we should still do that…or is it not politically correct?)

Through the years, multiple groups tried to get Congress to recognize Flag Day as a holiday.  Pennsylvania declared it a state holiday in 1937.  Both President Wilson and President Coolidge tried to get it declared an official holiday but failed (I guess they had problems working with Congress, too.).  Finally, on August 3, 1949, President Harry Truman signed Flag Day as a holiday into law.

Now that I have convinced you that it is a legitimate holiday, how much will it cost for you to celebrate it properly?  By that I mean ….how much will it cost for you to buy a flag of your own?

Well, for those of you who have seen the large American Flags at football stadiums, those flags may be out of your price range. (At least I know they are not in my price range.)  Based upon a blog known as Gizmodo, those flags weigh 1100 pounds and cost $50,000 to make.  They are a little too large for my house.  And definitely a little too heavy for me to mount.  The report by Gizmodo indicates that it takes about 150 people to properly display the large flags.

The good news is that flags are available online from prices starting as low as $2.00.  They are also readily available from local hardware stores and big box stores.  Experts tell me that I can purchase a “good” flag, meaning one that can be used many times and will survive the weather challenges, for about $20.

Now the real cost for celebrating Flag Day in the manner in which I remember celebrating it as a child is in the cost of the food, not the flag.  Midwestern potato salad, fried chicken and beer were all part of the menu. While the impact on your wallet may be light, the impact on your arteries may be greater. I think the cost of properly celebrating Flag Day is definitely worth it.  Why not try it this year?



About the Author


Catherine McBreen



Catherine S. McBreen is President of Millionaire Corner.  McBreen plans and develops content for Millionaire Corner.  Catherine balances editorial content to meet the informational needs of both new and seasoned investors.  She designs special monthly surveys on topical issues affecting the economic environment.

McBreen has a B.S. in speech communications from Northwestern University and a J.D. from DePail University College of Law.  She is a member of the American Bar Association, the Illinois Bar Association, and the Chicago Bar Association.

Well-known for her expertise in the affluent and retirement arenas, McBreen is a frequent speaker at industry conferences.  She has been quoted widely by the financial media, including The Financial Times, The Wall Street Journal, Research, Private Asset Management, On Wall Street, Reuters, Bloomberg News, The Dow Jones Newswires and Worth.  Cathy has appeared as a guest on CNBC Closing Bell, First Business Morning News, Neal Cavuto at Fox Business News, ABC and CBS radio.

McBreen is co-author with Spectrem President George H. Walper, Jr. of the book "Get Rich, Stay Rich, Pass It On: The Wealth-Accumulation Secrets of America's Richest Families" (Portfolio, January 2008)

Catherine is the mother of four and is involved in many school and community events.