DuPont Wealth Solutions - January 2023

Make 2023 Your Best Year Yet: Financial Planning Tips for Achieving Your New Year’s Resolutions

Happy New Year! We hope you had a wonderful holiday season. Now that the new year is here, it’s time to start thinking about your resolutions. If one of your resolutions is to get your finances in order, we can help! Our financial planning experts are here to help you achieve your goals and make this your best year yet. We can help you save more, spend less, become debt-free, retire comfortably, and finally get your estate planning documents in order. So, what are your goals for 2023? I WANT TO SAVE MORE MONEY AND SPEND LESS MONEY. The best way to spend less money is not by restricting your lifestyle, it’s by tackling debt and taxes instead. Did you know that, on average, 40% of a person’s income goes to taxes?!! And another 25% goes to paying off debt. That’s a lot of money that could be shifted to savings if you had an effective financial plan in place. Our team of financial advocates can help you reduce your taxes, eliminate debt faster, and put more money into savings. Are you looking to save for retirement, your child’s education, or to build a legacy for your family? Whatever the reason, we can help you reach those goals. I WANT TO FINALLY PAY OFF MY DEBT. Debt, and in particular the interest you pay on it, can quickly prevent you from growing and accumulating wealth. If you stay awake at night stressing about your mortgage and student loans, you’re not alone.

Maybe you’re close to paying off your loans and credit cards, and that’s great! You’ve surely worked hard to do that. But what happens when you need a new car or a bigger house for your family, or when a medical emergency happens? You’re right back in debt … again. And you’re back to paying ridiculously high interest rates … again. What if you could eliminate debt faster while saving for your future, so you’re never in debt again? Our Debt Free 4 Life process allows you to do just that. It involves restructuring your bill payments and savings strategy without negatively impacting your lifestyle. The best way to find out what’s possible in your situation is to use your own information. Go to smartadvisorcolumbus.com to use our debt calculator and find out what your debt- free future could look like. A team member will follow up with you and schedule a brief conversation. Just a few minutes of your time could save you thousands of dollars. I WANT TO RETIRE THIS YEAR. If you’re looking to retire within the next few years, you should be focused on protecting the nest egg you’ve built for yourself. That nest egg will determine not only how you’ll sustain yourself during retirement, but also how much of a legacy you can leave for family and charities. Unfortunately, many retirees are shocked to find that their nest eggs have been significantly eroded by taxes and inflation.

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