DuPont Wealth Solutions - November 2021

DuPont Wealth Solutions - November 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 NOV

WHY WE SHOULD PRACTICE THANKFULNESS ALL YEAR Finding Much-Needed Peace — In Gratitude

With Thanksgiving coming around, you’re probably not surprised I’m going to talk about gratitude. To be honest, it wasn’t until one of my coaches challenged me to start a gratitude journal that I began seriously and deliberately practicing gratitude every day. Every morning, I had to write at least five things I’m grateful for — and at first, that was a lot. But the more you do it, the better you get at it. Now that I’ve been doing it for two months (at time of writing), I’ve been impressed by my internal peace, especially on some really bad days. In fact, I can even give you an example. A couple weeks before Sophie was about to go back to school, she told me the air conditioning in her car wasn’t working. I told her, “Hey, no problem. Let’s fix it.” That morning, I took her car to the repair shop, expecting my wife Julia to pick me up shortly thereafter.

On my way home from having lost the championship, my wife and daughter weren’t back home yet, so I brought a pizza with me. For several minutes, I sat at home with nobody but my trusty side kick Skylar and a pizza. By 9 p.m., they started having problems learning how to operate Sophie’s new car, but by the time I drove over there to help, they had figured it out.

She never showed up. It took me about 15–20 minutes to walk back, but I didn’t mind — it’s the scenic route, right?

“Every morning, I had to write at least five things I’m grateful for — and at first, that was a lot. But the more you do it, the better you get at it.”

Incidentally, while driving off to help with Sophie’s car, I left the pizza on the coffee table with the dog. Luckily, Skylar didn’t touch it! If I’m being honest, the pizza’s survival was the only part of the day that went right. But I found myself very grateful for how it all played out. If I hadn’t known a trustworthy car salesman (thank you Chris at Buckeye Nissan), Sophie

When I got home, as it turned out, our car garage door was also broken, so that’s why she couldn’t get the car out to pick me up. Again, I said, “No problem. Let’s fix it.” I put my high school physics lessons to work, built a makeshift lever to open the door and was ready to roll. I called for repair and left for work. I would like to say that the work day was uneventful, but nope. Long story made short, I had to make a change in my vacation plans costing me an extra $1,000. Oh well. As the day was drawing to a close, I had to get out of the office to get to my golf league championship game (yes, you read that right, league hack was in the championship game). I still had not heard back from the shop on Sophie’s car. In the middle of playing for the championship, I started getting calls about the costs for fixing the car problems. It turned out that repairing Sophie’s car would cost several thousand dollars. So, I said, “Well, at this point, let’s just trade it in and buy her a different car that’ll operate properly.” I called a car salesman I trusted, and he found a good deal for her, so I told my wife and daughter to drive to the lot and check it out.

wouldn’t have had a car in time for her school year. If our garage hadn’t broken, I wouldn’t have enjoyed a nice long walk home that morning. If we hadn’t lost the championship, well … maybe I wish we won. But it was still a lot of fun to play and not an opportunity everyone gets, which I’m grateful I had. Gratitude doesn’t have to be for the big things in life. It’s good to be grateful for the smallest things, too. Because even when the world seems stacked against you on your worst days, you’ll still find something to smile about.

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STAFF SPOTLIGHT: Brit Houchin | Legal Assistant

HOW LONG HAVE YOU BEEN WORKING AT THE LAW FIRM, AND WHAT DO YOU DO HERE? I’m a paralegal here at DuPont & Blumenstiel for the litigation department. I started working here fairly recently, in April of 2021. Before that, I worked in a hospital as a surgical tech. I’m one of the first people potential clients will speak to in regard to a personal injury or vaccine injury case. My typical workday consists of talking to clients, learning more information about them and their case, researching relevant medical theory, and analyzing cases. WHAT IS YOUR FAVORITE PART OF YOUR JOB? My favorite part of the job is helping and communicating with clients. I love helping

them find out whatever they need and working through their hardship with them.

WHAT WOULD YOU SAY TO SOMEONE LOOKING TO PURSUE A LITIGATION CASE? To anyone who is looking to pursue a litigation case in the future, I would like to caution them that it’s not a sprint, it’s a marathon. It takes a fair amount of time, energy, and effort to make a case the best it can be. It is our job to make you whole again, not necessarily to get you to a place that is better than where you were before your accident or injury. We’ll do our absolute best to present your evidence in the best possible way so you can get the most compensation possible and focus on recovering.

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!

Pamela Pace Jon Stewart Lindsay DeFalco

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2 | Wealth Solutions 614-408-0004 | Law Office 614-408-0529

CHECK YOUR SOCIAL SECURITY EARNINGS RECORD ANNUALLY — HERE’S WHY MAXIMIZING SOCIAL SECURITY BENEFITS: PART I

It is always your right to see your Social Security earnings record. Today, you can do so online! That’s why everyone should review their earnings record yearly. To do so, create a Social Security account at SSA.gov/myaccount/. Once you do, you can access your earnings record and compare the income listed there to your tax returns to make sure all the information is accurate.

record your earnings correctly. This could result in your numbers showing less income than you actually earned during the year or no income at all, and that could lead to a lower Social Security benefit than you’re entitled to. Yes, employers are responsible for reporting your earnings, but you are responsible for checking your earnings record, as only you can confirm the information is accurate. The SSA

suggests reviewing your record at least every year because “sooner is definitely better when it comes to identifying and reporting problems with your earnings record. As time passes, you may no

Why go through the trouble? It behooves you to do so because the amount of your retirement benefit is based on your top 35 years of earnings. The Social Security Administration (SSA) gets your income information from the IRS, so your earnings record is usually accurate.

longer have past tax documents and some employers may no longer be in business or able to provide past payroll information.”

But mistakes can happen — which will cost you.

A yearly check of your record could be time well spent! If you have any questions about this process, don’t hesitate to give our office a call. You can learn even more tips in our e-book, “How to Maximize Social Security,” available on our website under Webinars at DuPontWealth.com.

If you change your name and fail to report it to the SSA, or you or your employer accidentally transpose some digits in your Social Security number on your employment paperwork, the SSA may not

SUDOKU

BAKED CORNBREAD AND CHORIZO STUFFING

Inspired by FoodNetwork.com

Spicy, savory, and sweet, this unique stuffing will level up your Thanksgiving table. INGREDIENTS

1 lb Mexican chorizo 1 white onion, chopped 1 carrot, chopped 1 celery rib, chopped 3 garlic cloves, chopped 2 cups premade cornbread, crumbled

1/4 cup cilantro, chopped 1/2 cup chicken stock 1 tbsp unsalted butter, for greasing Cilantro, for garnish Cotija cheese, for garnish

• • • • • •

• • •

• •

DIRECTIONS

Preheat your oven to 350 F.

1.

2. In a large skillet over medium heat, cook the chorizo for 5 minutes. Add the onion, carrot, celery, and garlic. Cook for 10 additional minutes. Stir in the cornbread and cilantro. 3. While stirring, slowly add the chicken stock. Stir until absorbed. 4. Butter a small casserole dish, then add the stuffing in an even layer. Bake for 20 minutes, garnish as desired, and serve!

Wealth Solutions www.DuPontWealth.com | Law Office www.DandBLaw.com | 3

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 Serenity in Gratitude PAGE 1

Staff Spotlight: Brit Houchin We Appreciate You PAGE 2

Don’t Make This BIG Mistake While Planning for Retirement! Baked Cornbread and Chorizo Stuffing PAGE 3

Why You Should Visit New England for Thanksgiving PAGE 4

Why You Should Visit New England During Your Thanksgiving Weekend

Last year, travel restrictions kept many families from gathering together in their homes for Thanksgiving dinner. This year, it appears that people will be able to travel freely to most locations. While a “destination Thanksgiving” might not be something you’ve ever considered, for some families, it can mean the perfect blend of quality fun and family time in an exciting new city. So, why not take advantage and bring your family to visit New England, the part of the country where Thanksgiving began? If you need more reasons than just the origin of a famous holiday, consider the scenery. If you’ve never visited New England in the fall, it’s something that every person should do at least once in their lives. The variety of colors on display in the trees throughout the quaint downtowns and nearby forests is completely unique to that part of the country. There’s a reason that

“visiting Boston in the fall” has become not only a popular vacation but also part of the American lexicon as well. As for what you could do when you’re in New England for your Thanksgiving weekend, there are a few popular destinations you just have to see for yourself. First and foremost among these are the Plimoth Patuxet Museums. When you visit, you’ll be transported back in time to one of the earliest settlements in the United States, where the Pilgrims and the Wampanoag people shared the first Thanksgiving dinner. Other fun destinations in that immediate area also include wandering the quaint historic downtowns of Ipswich, Sturbridge, or several other colonial era towns. You can also find tons of fun shopping destinations in Beverly, Massachusetts. If you want your experience to be a little more rural, you can

travel out to Lake Winnipesaukee in New Hampshire, or Woodstock, Vermont, to experience a true traditional Thanksgiving celebration at Billings Farm and Museum. Even though your family might not be used to traveling for Thanksgiving, how many opportunities will you have to visit Thanksgiving’s birthplace during the season? It’s the kind of vacation you don’t want to miss!

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A Reminder From

As we approach uncertain times in our economy brought on by unprecedented spending, the Internal Revenue Service will need to get more aggressive than ever in its search for revenue. At the same time, most of you are getting less and less proper proactive tax guidance. This imbalance leaves you at a distinct disadvantage. We are trying to level the playing field or maybe even tilt it in your favor, legally and ethically. The Internal Revenue Service is coming after your income and your savings. Do you have a team looking for ways to protect you and your family from paying more than your fair share? Mathematically, our country must look for ways to increase future revenue. Most of you are the targets for the increased revenue necessary to fuel the federal, state, and local governments’ budgets. When the Internal Revenue Service comes looking for money, to whom will they look? They will be looking at you. Did you know …

• The top 1% of all taxpayers (those who have Adjusted Gross Income over $540,000) pay 40.1% of all federal income taxes. • The top 5% of all taxpayers (those who have Adjusted Gross Income over $217,000) pay 60.3% of all federal income taxes. • The top 10% of all taxpayers (those who have Adjusted Gross Income over $151,935) pay 71.4% of all federal income taxes. • The bottom 50% of all taxpayers (those who have Adjusted Gross Income under $43,614) pay 2.9% of all federal income taxes. When the Internal Revenue Service comes looking for more revenue, will they be looking at wage earners in the top 50% or the bottom 50%? You need to prepare now. I have learned many things over the years serving as a financially minded lawyer, and I have helped many of you make wise, proactive tax decisions. I

Can our team help you reduce your tax obligations now or in the future? I don’t know. Let’s find out. As we introduce the service to you, our family of clients, we are offering a free, no-obligation review of your tax returns to determine if we can save you any money now or in the future with your taxes. All you need to do to take advantage of this opportunity is to provide your most recent tax return and 30 minutes of your time. That’s it. Is it worth 30 minutes of your time to save potentially thousands of dollars in taxes now and in the future? If so, call us at 614-408-0004 to get started now.

have seen example after example where a few subtle shifts in your tax plan can lead to tremendous tax savings over your lifetime. As the inevitable tax changes occur in the upcoming years, these shifts are more important than ever. That is why I felt the need to step it up a notch to serve you in the future as we face these changes. One of the most important lessons I have learned from my years of preparing legal cases for trial is that an effective advocate does not need to be the expert on all areas. The effective advocates know who the experts are, and they know how to use those experts to build their client’s case. This is where Ohio Tax Advocates, Ltd. comes in. I have formed Ohio Tax Advocates, Ltd. as your portal to a carefully and meticulously vetted pool of tax-planning experts who are now part of your team, supporting a singular mission of providing you proactive tax planning services. These services may benefit you regardless of whether you are a business owner, a regular wage employee, or a retiree. I have found that there are almost always tax-planning opportunities for anyone who pays tax — don’t let the fact that you get a refund hide the amount of taxes you have paid. Most people have no guidance on basic ways to manage their current and future tax liabilities. Most accountants, CPAs, and tax preparers do not have the time to spend with you on these tasks, and, in all honesty, they don’t have the time to focus on proactive tax planning due to the growing demands of tax return preparation and keeping up with the IRS changes. Furthermore, many of you do not even use a tax preparer and do it yourself. For the record, any tax-planning advice built into these do-it-yourself programs is basic at best, misleading at worst. Proper proactive tax planning goes beyond such standard advice as “max out your 401(k)” and “contribute to an IRA.” Even though I have advanced training and 30 years of experience with tax planning, some of the situations I’ve seen my selected set of experts put together have been eye-opening and have expanded my view of the possibilities.

P.S. As with all the services we provide at DuPont Wealth Solutions and DuPont & Blumenstiel, our offers to you extend to your family and close friends as a courtesy to you. So, if you don’t think you will benefit from this offer but think you know someone who might, feel free to let us know, and we will treat them with the same level of expertise and care you have grown to expect from us.

P.P.S. Did you catch that this is a free, no‑obligation offer?

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