DuPont Wealth - October 2020

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.

20 OCT

I’VE TURNED 55, EVERYONE

AND AN UPDATE ON MY MARCH TO A MILLION On Sept. 30, I turned 55. That is, 28 years of being an adult after graduating law school. I don’t think any of the years before that count, right?

“I really didn’t know what to expect with our own [portfolio].

“To be told that our portfolio was only impacted -6% on 43% of our portfolio was simply remarkable, gratifying, and gave me tremendous relief. Your diversification strategy on the 43% paid off in a big way and none too soon! The two annuities

Actually, I don’t know if the realization that I’m an adult ever hit me. Being 55 years old, I have about 10 years until most

people retire — which is significant in more than one way. If you recall last year’s July newsletter, I made a summer resolution. My trusty sidekick Skylar and I promised to positively impact one million lives prior to 2030. By the time I turn 65, I’d like to know I’ve truly made a positive impact in the world. We call this our March to a Million campaign. But how do I know whether I’m impacting people positively? At first, we were calculating it by how many people I interacted with throughout my work at DuPont Wealth Solutions and through the

comprising the remaining 57% also did their job in protecting our retirement life savings thanks to you and your team. Thanks for verifying for me that if I had simply left the 401(k) ‘as is’ at [their prior employer] (which [their] third party strongly encouraged), I would

likely have seen an impact of -25% on a risky 401(k) portfolio having 90% in [the employer’s] stock.

“DuPont Wealth promised to protect our savings investment and came through

admirably in an early and global test. I shared all this information and my interpretation with my family, and they are extremely grateful and impressed for what you have accomplished for us . I’m reminded of your poster at the office with your likeness being in a hero’s costume. You are a hero to this family and we find that poster very fitting. “This stock market tumbling came at a time in which my full focus was on getting this family physically and emotionally [through a personal matter that I have omitted –GD] — the exact time the stock market was falling apart and the pandemic starting to hit Ohio. We will be forever grateful for DuPont Wealth having our backs and taking care of business on our behalf during this time.” I couldn’t be more grateful that I was able to be there for this family and their concerns, and that I was able to help them in the way that I could. To everyone reading this newsletter, thank you all for your support — I can’t wait for the next 10 years of this March to a Million.

media. And, well, that was building up the numbers way too fast. Plus, how do we know that people were actually positively affected? They have to tell us themselves, of course. So, that’s how we calculate the numbers. We aim to have one million unique individuals who have gone out of their way to tell us that the work I’ve done has positively affected them. Some of my favorite feedback has really shaped my understanding of what this campaign means to me. When we first launched the March to a Million, the art and design team drew an amazing picture of me and Skylar as superheroes. I didn’t realize, in itself, that could positively affect people. During the pandemic, I met with a client, and he wrote me this: “Greatly appreciate the generous time spent updating and reviewing our portfolio today. I came into our first video chat full of apprehension, concern, fear, and great uncertainty. I don’t pretend to be stock-market savvy, but I did read the headlines about COVID-19 driving the Dow down 37% in Feb/Mar — the worst since Black Monday in 1987.

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Tips for Proper Care and Cleaning DON’T TURNYOUR FACE MASKS INTO PETRI DISHES

‘IS IT SAFETO HAND-WASH FACE MASKS?’ Since fabric face masks need to be washed after each use, running a wash cycle just to clean a couple of masks can feel pretty wasteful — like doing a load of laundry only to wash the socks you wore yesterday. The

In the span of a few months, face masks went from being something Americans only saw in hospital settings to an item we can’t leave home without. Since everyday use of face masks is still relatively new in the United States, here are some answers from Johns Hopkins Medicine to common questions regarding the proper care and cleaning of your face mask. ‘HOW OFTEN SHOULD I CLEAN MY FACE MASK?’ Disposable, surgical face masks cannot be cleaned. Johns Hopkins recommends throwing surgical masks away when they are “visibly soiled or damaged.” If you wear a reusable fabric face mask, then you should wash your mask after each day of use to help prevent bacterial growth. ‘WHAT’STHE BESTWAYTO CLEAN MY FACE MASK?’ Earlier this year, a video circulated on social media claiming that you could use a rice cooker to sanitize disposable face masks. This claim is untrue. As stated previously, disposable face masks cannot be cleaned. However, fabric face masks, especially those made of cotton, can be washed with the rest of your laundry. Run them through the washing machine with hot water, then tumble dry on high heat. If you are sensitive to perfumes, use an unscented laundry detergent.

Johns Hopkins Medicine website states that you can hand-wash your face masks if needed. Use hot, soapy water to wash your masks, scrub the mask for at least 20 seconds, and dry on high heat in your dryer. ‘WHERE SHOULD I STORE MY CLOTH FACE MASKSWHEN I’M NOTWEARINGTHEM?’ Put used cloth face masks directly into the laundry basket when you arrive home to ensure they get cleaned in a timely manner and to prevent you from accidentally spreading germs. Have a sanitized place designated to store clean face masks only. Avoid putting face masks in your pocket or purse.

Face masks are supposed to help keep us all healthy. Follow these tips to make sure your mask doesn’t become a petri dish.

Grabbing a few drinks after work is a timeless tradition known across the country as Happy Hour, and Greg DuPont is a big fan. But it’s quite the opposite sensation, walking into a dimly lit bar at 10 o’clock in the morning — during a global pandemic, no less — to try and figure out how a dead man spent the last hour of his life. But the murdered man is a friend of his, and DuPont is obligated to flip over a few rocks looking for answers, even if it gets him nothing but question marks and a tall, bitter glass of the Sad Hour Special.

MARCH TO 1 MILLION UPDATE Current count for the March to 1 Million: 349,672

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HAPPY BIRTHDAY, IRA! Greg and Individual Retirement Accounts Are Both September Babies!

Just like Greg DuPont had his birthday on Sept. 30, the Individual Retirement Account (IRA) had its birthday last month, too! That’s a birthday a lot of people have a reason to celebrate. Workers at businesses that couldn’t offer pensions used to be severely disadvantaged — when IRAs were established, Congress intended to provide a tax-advantaged retirement savings plan for workers who couldn’t get it otherwise. On Sept. 2, 1974, the Employee Retirement Income Security Act (ERISA) was enacted into law, introducing protection for employee savings in both defined benefit plans like pensions and defined contribution plans.

worth $9.4 trillion by the end of March 2019, and have grown at an annual average pace of 10% over the past 25 years, from $993 billion in 1993. Of course, types of IRAs have expanded since 1974. SEP IRAs were created in 1978 to offset concerns about complex regulations that prevented smaller businesses from offering retirement plans. SIMPLE IRAs were created in 1996 for small businesses with 100 or fewer employees. A popular type of IRA is the Roth IRA, which only came to be in the Taxpayer Relief Act of 1997. It allows retirement savers to have an option to contribute on an after-tax basis, and allows tax-free withdrawals, so long as they qualify under IRS rules. However, you are restricted by the Roth IRA contribution limits and eligibility terms, which are based on your modified adjusted gross income (MAGI). In

2019, only single Americans with a MAGI of $135,000 or less could invest in a Roth IRA.

If you’re not familiar with how IRAs work, you’re not alone: Only 34% of Americans believe they are knowledgeable about IRAs, according to a LIMRA Secure Retirement Institute study published in early 2019. And of the Americans who didn’t have an IRA, over half (46%) believed they didn’t understand IRAs well enough to contribute to one. If you have any questions about your IRA or how to start one, it’s never too late or too early to call Dupont Wealth Solutions!

Today, nobody can deny that the IRA plays a vital role for Americans saving for retirement.

As of mid-2019, an estimated 46.4 million U.S. households owned IRAs. That’s 36% of American households. These IRA assets were

WORD SEARCH

SPOOKY STRAWBERRY GHOSTS

Inspired by Candiquik.com

INGREDIENTS

16 oz white chocolate, chopped

1 package mini dark chocolate chips

•

•

24 strawberries

•

DIRECTIONS

1. In a microwave-safe bowl, heat the white chocolate at 50% power for 30 seconds. Remove it and stir, then repeat the process until melted.

Lay out a sheet of parchment paper.

2.

3. One by one, dip the strawberries into the melted white chocolate and set them on the parchment. Allow the extra chocolate to pool to form a “tail” effect. 4. Before the chocolate coating fully cools, add three mini chocolate chips to each berry to form two eyes and a mouth.

APPLES CALENDULA CANDY HALLOWEEN

HORROR MASKS OPAL POPCORN

SCARY SCREAM

TREAT TRICK

5. Let chocolate set, then serve your spooky snacks!

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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411

614-408-0004 www.DuPontWealth.com

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

INSIDE

An Update on My March to a Million PAGE 1

Keep Your Face Masks Safe and Clean The Pilot Mysteries: Chapter 3 PAGE 2

Happy Birthday, IRA! Spooky Strawberry Ghosts PAGE 3

5 Steps to a Safer Hotel Room PAGE 4

5 STEPSTO A SAFER HOTEL ROOM Keep Strangers and Viruses Out With These Quick Tips

Staying home is the best way to protect yourself and your family from illness, but sometimes life gets in the way. Maybe you need to travel for work, to help a relative, or just to keep your kids from bouncing off the walls. If you have a hotel stay on the books, worrying about safety is understandable. But by taking these precautions, you can protect your loved ones and increase your odds of coming home healthy. 1. Bring a sanitation kit and use it! Most hotels are going above and beyond to sanitize their rooms these days, but it never hurts to take extra care. Before you check in, pick up cleaning supplies like disinfectant spray, wipes, plastic bags, and gloves. Then, use them to wipe down your room. Focus on big surfaces as well as features like faucet handles, doorknobs, lightswitches, and microwave buttons. 2. Skip the decorative linens. Many hotels don’t wash decorative bedding like comforters and fancy pillowcases. To be extra safe, strip these off the bed and wash your hands afterward. If you’re chilly, opt for the hotel’s spare blanket (it’s probably hiding in a closet) or bring one from home. 3. Quarantine your remote control. As USA Today puts it, “It’s common knowledge that one of the germiest items in a hotel room is the remote control.” To avoid the ick, pick up the remote

while wearing gloves and drop it into a Ziploc. Then, remove your gloves and seal the bag. Now you can use the remote without touching it directly! 4. Invest in a rubber door wedge. Viruses aren’t the only risk in hotel rooms — break-ins are another

concern. To keep your room secure, bring a rubber door wedge. They cost less than $10 on Amazon and make kicking in a door much more difficult. 5. For maximum security, bring a door alarm. Simple travel alarms hang from the handle of a door and have two prongs that slide between the door and its frame. When the door opens and the prongs separate, that triggers the alarm. These simple devices send thieves running, and Lewis N. Clark makes a model for just $14.99.

Hopefully, these tips give you some peace of mind on your next trip. Happy trails!

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