DuPont Wealth - January 2022

DuPont Wealth - January 2022

LIFESTYLE ADVOCACY FAMILY FINANCE LAFF is a publication of DuPont Wealth Solutions and The Law Offices of DuPont and Blumenstiel, blending original and curated content, and is intended to educate the general public about investing, finance, estate planning, personal injury, and small-business issues. It is not intended to be legal or financial advice. Every situation is different. The information in this newsletter may be freely copied and distributed as long as the newsletter is copied in its entirety.

22 JAN

THINGS CHANGE, BUT THE GOAL STAYS THE SAME

The March to a Million Continues

Where do you see yourself in 3–4 years? In the future, when you look back at your life, what type of changes in your personal, professional, or financial life would’ve had to happen to make you feel like you’ve been successful overall? When my coach asked me these questions, I considered them seriously. The past couple years have required plenty of adapting and learning, but I’m happy to say I’ve made several adaptations that have allowed me to feel like I’ve created a successful period of my life, especially professionally. Our office has been buzzing with creativity over the years, including a book, webinars, speaking engagements, and a serialized noir drama.

Now, I ask my clients the same questions — because even when the details of life are hard to predict, what path stays the same?

During the start of a new year, I set goals for myself that are set in a certain direction. But life comes along and with it comes challenges. As we roll into 2022, we’ve had lots of faces come and go. However, the thing that remains part of the core, even with the change of people, is the vision we set forth and the path to get there. We came out of the past year with tremendous business transformations but also personal growth and improvement. Although we have set markers for what the

“The things that remain part of the core, even with the change of people, are the vision that we set and the path that we lay forth.”

without changing my intention. I now track the feedback I get from clients in different ways. This feedback can come from our

referral program (telling friends or loved ones about our services) or people personally telling me how I have created an impact on their lives.

future looks like, I am continuing my pursuit of March to a Million between now and 2030. This campaign’s goal is to positively impact one million lives before I turn 65. It’s a unique career goal geared toward ensuring that people benefit from my resources as much as possible. More developments are on the way. Although there have been adjustments and modifications throughout the year, the overall message stays the same. Although my March to a Million remains a crucial part of my professional goals, you might’ve noticed that, over time, we stopped putting our accomplished numbers in the newsletters. That’s because it was getting far too easy to attain my goal! At the time, we counted a “positive impact” by whoever received our content. Self-aggrandizing aside, I aim to reach a million people and positively impact them. I adjusted the way I counted my impact

Without you — friends and family whom we call our clients — we never would’ve gotten this far. That’s why we’re expanding our mission and ability to serve you in 2022. With that being said, we are planning on opening at least one branch office in 2022. This extension will enable us to achieve our mission and better serve you, our clients.

I’m looking forward to the new year and seeing what changes will be made to further strengthen our vision — the March to a Million.

Happy New Year, everyone!

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STAFF SPOTLIGHT: EMILY LEITER PARALEGAL

How long have you been working at the law firm, and how has your role evolved since then? I started working at DuPont and Blumenstiel as an intern in the summer of 2021 as part of Columbus States’ paralegal program. In August, I finished the program and was fortunate enough to be added to the team as an official paid employee. My typical workday fluctuates between the probate litigation side of things and the estate planning side of things. Depending on what needs to be done, I could be doing paperwork for a litigation case or preparing documents for an estate plan. What is your favorite part of your job? My favorite part of my job is the variety of activities I get to do and skills I get to learn and practice. No probate litigation case is the same nor is an estate plan. I really enjoy working on both sides of the firm because it gives me different types of paperwork to do, and

I get to learn different aspects of law. I also really enjoy problem- solving, and this job allows me to do that. What would you say to someone hesitant about estate planning? If anyone is thinking

about estate planning and wants to prepare for their future, I think the best thing for them to do is to call a trusted estate planning attorney to get some more information and resources. A consultation with an attorney can be very helpful in creating a plan that best fits their needs and goals.

WE APPRECIATE YOU

We want to use this space to express our gratitude to the following members of the community who have recently left us a review or have referred someone to our care. Thank you! Jerry Biederman Jim Mott Ann Chonko James Lafferty Prashant Barnwal

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Changes in Retirement Planning Due to COVID-19

WHAT YOU NEED TO KNOW

Watch out for bear markets. A bear market is when investment prices drop by 20% or more. If you make withdrawals while stocks are down, this can reduce the number of years your stock portfolio has. If you are planning to retire in the near future, you should carefully consider how to avoid reducing your stock portfolio. The best way to survive a bear market is to “play dead.” This means that you should put a large portion of your portfolio in money market securities, certificate of deposits, or U.S. Treasury bills.

The pandemic caused a lot of people to rethink their retirement plans. Some are thinking about retiring earlier, while others are delaying retirement. There have been changes within the retirement landscape because of the pandemic. Whether you want to retire earlier than planned or work longer than expected, here is what you need to know. Wait to claim Social Security benefits. It can be financially beneficial to delay taking these benefits until you are 70 years old. This is because, at this age, the monthly payout will be the highest. Retiring and starting Social Security doesn’t have to be done at the same time. If you’re planning to retire early, it may be tempting to take these benefits out earlier. Instead, you can wait until you hit the maximum age requirement and focus on tax planning tactics, such as Roth conversion.

should calculate your retirement numbers with a lower expected return on investment.

What if tax laws change? Both federal and state taxes could change in the future. There are a few strategies you can use to prepare yourself in case this occurs. The best way to save on taxes is by paying taxes. It’s best to pay income taxes at 37% than have thresholds be lowered and rates increased in the future. You can also lower your overall taxes by switching your IRAs to Roth IRAs. The Roth conversion helps spread income taxes over several years. Have any questions about retirement planning or about finances? Allow DuPont Wealth to assist you! Call us at 614-408- 0004 . We will be happy to help!

Expect lower returns. To predict what the annual return of

investment funds will look like for the next 10 years, the current yield of a bond is a good place to look. The current yield is less than 1.5%. Some calculators who specialize in retirement income predict that the bond will return to 5%. But in any case, you

SUDOKU

CHICKEN AND LEEK FILO PIE

Inspired by GoodHousekeeping.com

INGREDIENTS

3 oz unsalted butter, divided 2 large leeks, finely sliced 2 large carrots, finely chopped

14 oz chicken stock, warmed

chicken, cut into chunks

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2 tsp Dijon mustard

2 tbsp chopped fresh parsley 12 sheets frozen filo pastry, thawed

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3 tbsp heavy cream 12 oz cooked

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1 tbsp flour

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DIRECTIONS

1. Preheat oven to 350 F. 2. In a pan over low heat, melt 1 oz butter. 3. Add leeks and carrots and cook for 15 minutes, until softened but not colored. 4. Stir in flour and cook for 1 minute. 5. Gradually add chicken stock, stirring until sauce is smooth, then let simmer for 10 minutes. 6. Stir in mustard and heavy cream, then add cooked chicken and parsley. Transfer to a large ovenproof dish. 7. In a pan, melt remaining butter. 8. Put a single filo sheet on a board and brush with melted butter. Scrunch up pastry sheet and place on top of chicken mixture. Continue until pie is covered. 9. Bake for 20–25 minutes, until the filo is golden and chicken mixture is bubbling.

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DuPont Wealth Solutions, LLC 655 Metro Place South, Ste. 440 Dublin, OH 43017

INSIDE

What Makes a Successful Long-Term Goal? PAGE 1

Staff Spotlight: Emily Leiter Client Appreciation PAGE 2

How to Prepare if Taxes Increase Chicken and Leek Filo Pie PAGE 3

Why Do Your Ears Pop on Flights? PAGE 4

Airplane Ears

THE SCIENCE BEHIND YOUR EARS POPPING ON FLIGHTS

When it comes to flying on an airplane, you can avoid cramped legs by upgrading to first class or catch a view by picking the window seat. However, there’s no getting around your ears popping during takeoff and landing. Believe it or not, there is a scientific explanation behind this common annoyance. As you read this, you’re likely not on an airplane, and the air pressure on either side of your eardrums is equal. Air is currently passing right on through your eustachian tube, a narrow passage that leads from your middle ear cavity to your pharynx and allows for pressure to be equalized on each side of your eardrums. When you’re in flight on an airplane, air pressure is not equal. During both ascent and descent, your eardrums stretch to try to adapt to the changes. In order to equalize the pressure, your eustachian tube needs to open and close. When it does, your ears pop! Usually, the ear popping is irritating but nothing more. However, in rare cases, the pressure can lead to ear pain and even loss in hearing, especially if your ears don’t pop.

of candy, swallowing some water, or chewing gum may also help! One of the best things you can do is make sure you are not sleeping as the airplane takes off or lands because your eustachian tube isn’t able to open and close normally. If you

commonly struggle with congestion or sore ears on flights, taking a nasal decongestant before you board may ensure that your eustachian tube is not blocked. If your hearing and ears do not return to normal shortly after the flight, be sure to schedule an appointment to see your health care professional as soon as possible.

In this case, you may need to make an effort to get your eustachian tube to open by yawning, talking, or swallowing. Sucking on a piece

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