DuPont Wealth - February 2021

DuPont Wealth - February 2021

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.

21 FEB

WHY LITTLE STEPS CAN TRANSFORM YOUR LIFE

Do you remember what you did for Valentine’s Day last year? Don’t worry — even Cupid will be wearing a mask this year. As we approach the dog days of winter in Central Ohio, we’re also approaching the one-year anniversary of the COVID-19 pandemic entering the front of our consciousness. With so many big changes that have happened recently, it can be tempting to feel like we need to make massive changes in order to make a difference in our lives.

Best of all, you don’t always need to make significant changes in your everyday life to make significant progress. All of the small changes I’ve made to my exercise and diet routines have made huge, tangible changes in my health and daily energy.

I recommend breaking down all of your goals into tiny steps, and there’s a lot of research to say it’s a

smart idea to do so. A Stanford behavior scientist named BJ Fogg wrote a book

However, that’s far from the case. So, if you’ve dropped momentum on your New Year’s resolutions, don’t let that bring you down; it’s time to start thinking about failure and goal- setting a little differently. I’ve shared a little bit before that I’ve experienced positive changes in my own life while adapting to our new circumstances. Instead of listening to the news and feeling terrible about the world, I found that I needed a new direction, and, for me, that direction was to set off on a weight‑loss journey.

called “Tiny Habits: The Small Changes that Change Everything” and says the formula to any habit is simple. To add a new habit, you need motivation, prompt, and ability. Motivation means the willingness to do it. Prompt means the event, time, or action that’ll prompt you to do your new habit (e.g., right before your shower, or at 7 a.m., you’ll have a run). Ability is your ability to do the habit — do you have everything you need to complete the task?

When you have the right prompt, motivation, and ability, there’s very little that can stand in your way. Fogg says it best: “If you pick the right small behavior and sequence it right, then you won’t have to motivate yourself to have it grow. It will just happen naturally, like a good seed planted in a good spot.” Constant growth can be a great source of inspiration and motivation in our lives. No matter where you are in your New Year’s goals, I hope I helped offer a February reminder that we’re only in the second month of the year, and you can still stay on track! Best of luck, friends, and see you next month.

Of course, I have a number goal that I’d like to reach, but I’m nowhere near it yet. That doesn’t disappoint me — it just gives me a reason to keep going. Goals don’t exist to be achieved right away; they exist to

“CONSTANT GROWTH CAN BE A GREAT SOURCE OF INSPIRATION AND MOTIVATION IN OUR LIVES."

provide you direction. If you could achieve all your goals instantly, it’d be easy to lose both direction and momentum. That’s why it’s important to set goals you feel like you can achieve but are lifelong or long-

term goals.

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RELAX A LITTLE

February is the month when many of us give up on New Year’s resolutions. We lose motivation, or life simply gets in the way. If you find yourself sitting on the couch more than you did in January, when you may have been actively pursuing your fitness goals, consider this permission to sit a little while longer: Rest days are good for you! Here’s why. Your body needs to move. Exercise has many benefits, but from a survival standpoint, exercise and movement help your body perform daily functions with ease. But that’s not when your body gets stronger. It’s actually on the days you choose to rest that your muscles and joints improve as a result of your exercise. Exercising creates tiny tears in your muscles. (Maybe that’s why it burns so much!) In the regeneration process — aka your rest days — the muscle is built back stronger than it was before. That’s why incorporating rest days into your workouts ensures you can climb up from 5 to 10 to 15 pounds for dumbbell curls or run more miles in a faster time than last week! Beyond the improvement and fitness goals you have, rest days can also be essential to preventing injuries. Your body won’t become overworked, and your muscles get the necessary respite they need.

Fatigue won’t set in as quickly, and you will find that you can do more as you properly incorporate rest days into your schedule.

Fitting rest days into your daily routine is easier than you may think, but it sadly doesn’t involve sitting on the couch for too long. You should always find a way to move at least once each day. If you want to try running, start out by running three days each week. On your “off” days, incorporate some yoga, go for a leisurely walk, or focus on your arms and shoulders. This gives your legs and core a break from running while you still get the benefits of movement. (Plus, on the days you run, you will get a break from yoga or weightlifting!) It’s okay if you haven’t met your resolution goals just yet, but don’t give up! Find a way to add more rest into your routine, and you just might be more invigorated than ever before.

WHAT HAVE WE BEEN TALKING ABOUT IN THE PODCAST?

EPISODE 8 Let’s Go Back to Basics: Part 3 Estate Planning

EPISODE 7 Setting Financial Goals That Will Change Your Future

EPISODE 6 Let’s Go Back to Basics - Part 2 Annuity Basics

EPISODE 5 Let’s Go Back to Basics: Part 1 401K Essentials

EPISODE 4 The Increase of National Debt

EPISODE 3 The Countdown To Retirement: 10 to 12 Year Edition

EPISODE 2 Launching The Connection with DuPont Wealth Solutions

Subscribe to our show on your favorite podcast platform:

EPISODE 1 Get to Know Greg DuPont

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FORMER ZAPPOS CEO DIES WITHOUT A WILL WITH HUNDREDS OF MILLIONS AT STAKE, WHAT NOW?

Estate planning isn’t designed to benefit you today. It’s a gift for family and loved ones, so your affairs will already be mostly in order and there won’t be feuds about what you might’ve intended to do with your fortune after you’re gone. The truth is that your will can save family relationships in ways nobody can predict. That’s exactly why it’s so surprising that former Zappos CEO Tony Hsieh died without a will or estate plan. He was 46 years old and reportedly worth up to $1 billion. Imagine your family tension if a beloved family member worth $1 billion just died. Although he didn’t have any children, the family will have to pay astronomical taxes and attorney fees in order to get his affairs in order, losing much of his fortune and legacy. Although he had created a company with benefits like “full health care coverage, free lunches and on-site chiropractors and

life coaches, ready to dispense a hug,” it’s surprising that Hsieh didn’t prepare a will for his own family. Even if you don’t consider yourself wealthy, it’s incredibly important to get an estate plan. All your years of investment and careful fiscal decision-making can be preserved within the family if you prepare. Those who aren’t prepared often have to leave their family members behind to pay for it.

• A list of passwords and user IDs for banking accounts and your computer/ cellphone • Homeowner information like your mortgage servicer, and titles to vehicles and property • Retirement accounts and pension information • Life insurance policy information End-of-life planning isn’t necessarily the most fun way to spend your day, but it can save your family a lot of grief. You can give yourself the rare peace of mind that your death won’t have to leave behind chaos — just a time of peace and quiet for your family to heal and recover.

If you need a full checklist for what to prepare for your family, just in case, we have one:

• A will or trust to designate detailed instructions as to who gets what, and your desired burial • Advance health care directives, like your living will, detailing your desired medical treatment at the end of your life, and who will act as your health care power of attorney to make medical decisions

WORD SEARCH

ZUCCHINI NOODLES WITH TURKEY BOLOGNESE

Inspired by JustATaste.com

INGREDIENTS

3 tbsp olive oil, divided 1 tbsp garlic, minced 1/2 cup onions, diced small

1 tsp salt

• • • • •

• • • • •

1/2 tsp pepper

2 tsp sugar

1 lb ground turkey 1 28-oz can crushed tomatoes 2 tbsp tomato paste

3 medium zucchini Parmesan cheese, for garnish

•

DIRECTIONS

1. In a large sauté pan over medium-low heat, warm 2 tbsp olive oil. 2. Add garlic and onions and stir constantly until garlic is golden and onions are translucent. 3. Increase heat to medium and add ground turkey, break apart, and cook thoroughly. 4. Add crushed tomatoes, tomato paste, salt, pepper, and sugar. Reduce heat to low. Stir occasionally. 5. Using a spiralizer, mandolin, or vegetable peeler, cut the zucchini into noodles. 6. In another large sauté pan over medium-low heat, add remaining olive oil and zucchini noodles, tossing constantly for 2 minutes until slightly wilted. 7. Plate the zucchini noodles, top with the turkey Bolognese, and garnish with Parmesan cheese. Serve immediately.

GROUNDHOG HEART LINCOLN MLK JR PENNSYLVANIA

AQUARIUS BLACK HISTORY CANDY CUPID

PHIL PRESIDENTS DAY VALENTINE WINTER

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INSIDE

Make Every Step Count This Year PAGE 1

You’re Building Muscle While You Rest Podcast Episodes PAGE 2 Former Zappos CEO Dies Without a Will Zucchini Noodles With Turkey Bolognese PAGE 3

Is Air Travel as Risky as You Think? PAGE 4

IS IT SAFETO FLY DURING THE PANDEMIC?

Back in March, when the pandemic first started to affect our daily lives, the number of U.S. airlines’ international passengers fell by 53% from the previous year. In April, the difference was even more stark — a drop of around 96%. People didn’t trust that they would be safe from COVID-19 on airplanes, and why would they? Whether earned or not, airplanes have a reputation for being flying petri dishes. That said, flying may be safer than you think, even if there are still some risks. Here are some of the ways airlines are taking precautions to minimize those risks. USING HIGH-QUALITY AIR FILTRATION The air filtration systems on airplanes are built to stop respiratory viruses from spreading. Air quality experts recommend that air in confined spaces be replaced six times per hour. Filtration systems on planes replace the air around 20–30 times an hour. In practice, that means you risk catching COVID-19 only if someone who’s infected is sitting directly next to, in front of, or behind you. However, that doesn’t account for people moving about the cabin on flights, so take that into consideration. BLOCKINGTHE MIDDLE SEAT Some airlines have tried to create social distancing between passengers by leaving the middle seat open on flights. According to research from Arnold Barnett, a

professor at Massachusetts Institute of Technology, this does seem to reduce the number of passengers contracting COVID-19. Additionally, Barnett recommends that passengers try to get the window seat, since that’s where you’ll have the fewest points of contact with other passengers. It’s not quite 6 feet, but it’s better than nothing. PASSENGERSWEARING MASKS Most airlines mandate that passengers wear a mask during boarding and while flying, though some do allow passengers to take them off to eat and drink. Masks are still the best way to prevent the spread of COVID-19, even on airplanes. Back at the beginning of the pandemic, a man who later tested positive for COVID-19 flew all the way from Wuhan to Toronto but wore a mask the whole time. No other passengers were infected. While the risks may be less severe than you thought, you should still exercise caution. Practice social distancing during the boarding and disembarking processes as best you can and keep up to date on any outbreaks at your destination. Just because things are safer than you thought doesn’t mean you should throw caution into the air filtration system.

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