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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
23 OCT
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. CHANGE THE WAY YOU VIEW YOUR ESTATE PLAN
It’s More Than Just Legal Documents!
Do you know what holiday we’re celebrating this month? I’m willing to bet your first and immediate response is Halloween. But other holidays and national days are taking place this October that you may not have heard of. We have International Music Day on the 1st, National Croc Day on the 23rd, and Make a Difference Day on the 28th, to name a few. However, something else is happening this month — National Estate Planning Awareness Week. During the third week of October, estate planning firms across the country will host different events and share various information to commemorate the occasion. However, attorneys and families have different views and definitions regarding what an estate plan should look like. So, this begs the question: What exactly is estate planning? For many attorneys, estate planning means preparing legal documents that protect your assets and loved ones from exposure to the costs and hassle of probate. I fell into this category for the first half of my estate planning career. I thought estate planning was merely creating legal documents to transfer your estate as efficiently as possible. Over time, I saw a fundamental change taking place and determined that estate planning required much more than documents. As a result of the 401(k) era, most client’s wealth is represented by their taxable retirement accounts and that requires more than preparing documents. For the last 15 years, I placed a greater emphasis on what needs to be done to preserve, protect, and transfer that life savings. To me, this means eliminating
one central person to oversee and review the family’s financial picture. They had no one to turn to for help because everyone they spoke with only viewed them as a transaction, not a relationship to nurture. When they came to me for help, they were in litigation. And they lost hundreds of thousands of dollars because of it. It was painful to see this family go through such a heartbreaking experience. Not only were they grieving the passing of their loved one, but now they had to witness the estate being ripped to shreds and the family’s hard- earned lifetime savings devastated. After this experience, I decided to make a change in the way I practiced law. To me, estate planning is not just a transaction. It is the beginning of a relationship. A relationship where our mission is to give you the information necessary to make sound decisions about your life savings and provide you the opportunity to act. The focus will always be on helping you live your life to the fullest, and to protect, preserve, and transfer your wealth! I had the blessing of speaking with hundreds of families across the country and observe the same problem arise again and again. That is why I created the Wealth Solutions Network (WSN) to train estate planning attorneys nationwide how to deliver better outcomes to their clients by adopting my definition of estate planning.
unnecessary taxes, market risk and exposure to the cost of aging. These risks must be managed if you desire to leave a legacy. The reason I transitioned into thinking of estate planning from this perspective is because of a certain case I worked on that was absolutely heartbreaking. I have seen many instances over my career where an estate plan failed due to improper implementation. It is a routine occurrence where a financial advisor refers a client to an attorney to have estate planning documents completed, but there is no follow-through to actually take the steps to implement the plan. Then when things inevitably fail, all the advisors and attorney’s disclaim responsibility — they point the finger at the other saying they dropped the ball. A case just like that became my turning point. I represented a family in an estate dispute where the family had investment advisors, insurance advisors, tax preparers and an attorney. This group of advisors all let them down. The family didn’t have
The March to a Million continues and is stronger than ever!
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What is your favorite part of your job? I love to come to work because I get to help people, and the clients always have interesting stories. The problem-solving involved in this job inspires me to work harder and challenge myself every day. JORDAN HOLLINS, ADMINISTRATIVE ASSISTANT STAFF SPOTLIGHT:
What do you do here at DuPont and Blumenstiel?
I started working here in April 2023 as an administrative assistant. My typical workday includes answering incoming phone calls, going through emails, creating drafts of estate planning documents, meeting with clients, and assisting our probate paralegal with mailings. I also work with our sister company, DuPont Wealth Solutions. For example, I help with webinars, seminars, and mailings, and sometimes take notes in meetings. What is something most people don’t know about you? I enjoy playing music and I can actually play four instruments: the trumpet, piccolo, clarinet, and drums.
WE APPRECIATE YOU
WHAT HAVE WE BEEN TALKING ABOUT IN THE PODCAST?
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!
EPISODE 5: “The Financial Advocacy Mindset With Ben Glass” EPISODE 6:
Liz Herzberg Victorie Fife Mickey Gilbert Dan Stebbins Janice Karnes
“The Third Pillar of Financial Advocacy: Wealth Enhancement”
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How Do You Choose the Right Investment for You? Master the Art of Stock Analysis!
A common concern regarding investing is determining which stock will give you the most success. With any investment, there’s always a risk of the stock decreasing in value. But with the proper resources, you can find stocks with the best chance of accumulating wealth and the least likely chance of losing money. But how do you go about doing this? It’s all about stock analysis! We will review three types of stock analysis today that will help you determine which investment is right for you. FUNDAMENTAL ANALYSIS This form of analysis uses data by looking into a company’s business and industry to determine if a company’s future share price can be projected to increase from its current share price. To find this information, you must look at a variety of factors.
the number of outstanding common shares. This will help you determine a business’s profitability. Price-to-earnings (PE) ratio: Divide the stock’s price by the company’s annual earnings per share. Typically, the average PE is 20–25 — anything below this range is considered a good PE ratio. Price-to-earnings growth (PEG) ratio: Divide the PE growth rate by the future earnings growth rate. A good PEG is a value lower than 1.0. Price-to-book (PB) ratio: This considers how a stock is priced by dividing the business’s stock price by its book value. If the PB is under 1.0, it’s a solid investment because the market is underpricing the stock price. Debt-to-EBITDA ratio: Take the company’s total debt and divide it by the business’s EBITDA — earnings before interest, taxes, depreciation, and amortization — to find the ratio. If the number is below 3, it’s considered a healthy investment.
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SENTIMENTAL ANALYSIS Reviewing what others say about the company can tell you a lot about a business and its stocks. Research investors’ attitudes and tone toward the company to see if they had positive or negative experiences with their investments. TECHNICAL ANALYSIS To assess short-term investments, analysts identify trading opportunities by studying price trends and past trading activity to determine patterns and statistical indicators. If you need assistance finding the right stock that fits your needs, please allow us to help you! We have insight and resources we can share with you to help you make the best decision for you and your family.
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Earnings per share (EPS): The company’s net price is divided by
SUDOKU
HOMEMADE PUMPKIN SPICE LATTE
Inspired by AmbitiousKitchen.com
Save money this October with this delicious homemade pumpkin spice latte that will taste better than any store-bought coffee.
INGREDIENTS
2 shots espresso (or 1/2 cup freshly brewed coffee)
1 tsp pumpkin pie spice
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1 tsp vanilla extract
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1 cup milk of choice
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Whipped cream for topping (optional)
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3 tbsp pumpkin purée
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1–2 tbsp maple syrup
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DIRECTIONS
1. In a small pot on medium heat, heat milk until simmering but not boiling. 2. Make your espresso (or coffee) and pour into a large mug or Mason jar. Add pumpkin purée, maple syrup, pumpkin pie spice, and vanilla and stir until well combined. 3. With a milk frother, froth the heated milk until foamy. Then, pour into your pumpkin espresso mixture and top with whipped cream. For decoration, you can sprinkle more cinnamon or pumpkin spice on top!
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DuPont Wealth Solutions, LLC 655 Metro Place South, Ste. 440 Dublin, OH 43017
INSIDE
Secure Your Legacy the Right Way PAGE 1 Staff Spotlight: Jordan Hollins, Administrative Assistant
Our Podcast
Client Appreciation PAGE 2 How Stock Analysis Can Mitigate Investment Risks
Homemade Pumpkin Spice Latte PAGE 3 Personalized Vacations With AI PAGE 4
AI-Enhanced Travel: The feeling of excitement for an upcoming vacation can quickly turn into one of stress. After you purchase your ticket or plan travelers, pets, dietary restrictions, interests, or priorities because those factors will impact the results it gives you.
back-and-forth of providing feedback helps it pinpoint your specific interests to give you better information. For example, you can provide this prompt: “Make me a travel itinerary for seven days in Rome with activities in less crowded areas that are accessible to elderly travelers.” Finally, double-check any of the information AI gives you. Most platforms can only access information available before 2021, so certain attractions, restaurants, parks, or other itinerary items may not exist anymore. WANT TO GIVE AI TRAVEL A GO? ChatGPT isn’t the only site you can use to plan your itinerary! You can try any one of the following AI software specifically created for travel: YOUR SECRET TO THE PERFECT ITINERARY
your travel, you may feel so burnt out that scheduling day-to-day activities for said vacation feels impossible. Thankfully, helping you create an itinerary is where AI thrives. SO, HOW DO YOU USE AI TO HELP YOU PLAN A TRIP? The first step is to craft a prompt that will get the best response possible. To do that, ask your preferred AI platform questions in your native language. AI understands many languages, and your grammar and syntax when asking questions matter when looking for perfect results. The more grammatically accurate your sentence is, the more artificial intelligence can help you. Next, you need to be as specific as possible. Include all relevant information about your travel party when asking it to make plans for you, including if there are any kids, elderly
You should also tell the AI software when it misunderstands you or gives you results that don’t match what you want. AI, like ChatGPT, uses large language models (LLMs) to learn from the person interacting with it, so the
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Tripnotes.ai
RoamAround.ai Curiosio.com
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