DuPont Wealth Solutions - November 2022

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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 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.

22 NOV

MY FIRST THANKSGIVING WITHOUT MY PARENTS

I Know They Will Always Be in My Heart

This year will be my first Thanksgiving without my parents. As some may know, I lost my mother in January and my father over Memorial Day weekend. My parents were role models and helped shape me into the man, husband, father, brother, and professional I am today. While it’s heartbreaking to think about celebrating the holidays without them, I know their spirits are always with me. Thanksgiving is all about showing and giving thanks for everything you have in your life. This year, I’m going to appreciate the times I got to spend with my parents. Many memories cross my mind

as I think about the past 56 Thanksgivings I got to celebrate with my mom and dad. I remember how hectic my kitchen was when my mother would host Thanksgiving dinner. You would’ve thought you were watching an episode of “Hell’s Kitchen” if you saw her orchestrating the preparation of the feast. When I took over on a much smaller scale, I was always running around frantically as I tried to get everything ready before people started getting hungry. My oven and deep fryer saw so

“Tomorrow is never a guarantee, so this

Thanksgiving, tell your loved ones how much they mean to you and the impact they’ve had on your life.”

If you or someone you know recently lost someone they loved, I want you to remember that it’s important to acknowledge and

accept the hurt you will feel. I understand how heartbreaking this time is for you — I’ve been there myself. But don’t suppress your emotions; give yourself a chance to grieve. However, you must acknowledge the memories you created with your loved ones before they passed. While they may not be with you in person, they will forever be with you in your heart. No one can take away the memories or love you have for them. Tomorrow is never a guarantee, so this Thanksgiving, tell your loved ones how much they mean to you and the impact they’ve had on your life. And most importantly, cherish the time you spend with them. Make as many memories as possible with the ones you love; you never know how much time you have left with them.

many turkeys during Thanksgiving — I honestly don’t know how I pulled it off every year. The meaningful conversations and memories we created around the dinner table were always worth it. A Thanksgiving I will never forget is when my family and I went to New York to see the Macy’s Christmas parade when I was 21. Like many of you, I watched the parade on TV every Thanksgiving as my mother would prepare the food, so it was surreal to see the festivities in person. Although I was freezing while standing in snow that went up to my knees, I’m happy I experienced the parade with my family. Now, when I see the parade on TV, I will think about our trip to New York and the memories my parents created during our journey. I empathize with those who’ve lost someone near and dear to them. It’s challenging to think about a life without your loved ones. Thinking about the milestones and experiences my parents won’t get to see makes me choke up sometimes. But I know they will always be with me in my heart — it just takes time for that open wound to fully heal.

I hope you and your family have a wonderful Thanksgiving.

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STAFF SPOTLIGHT: BRIT HOUCHIN, LEGAL ASSISTANT

How long have you been working at DuPont and Blumenstiel, and what do you do here? I’m a legal assistant for the litigation department, and I’ve been working here since April 2021. I’m one of the first people who will work on your personal injury, probate litigation, or vaccine injury case. When clients call in, I’m happy to give them updates about what we’re working on here at the office. Before I started at the firm, I worked in a hospital as a surgical tech. My background in health care helped prepare me for the medical research I do on personal injury cases. My typical workday consists of talking to clients, learning more information about them and their cases, researching relevant medical theory, and analyzing cases.

What is your favorite part of your job? My favorite parts of my job are helping the clients and

communicating with them. I love being able to help them find out whatever they need and work 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 race, 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 to get you to a place that is better than what 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

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

YOUR FINANCIAL ADVOCATE with Greg DuPont

left us a review or have referred someone to our care. Thank you!

EPISODE 35: “Ways To Preserve Your Capital with Jason Pueschel” EPISODE 36: “Ways To Mitigate the Impact of Income Taxes with Jason Pueschel” EPISODE 37: “A Veterinary Venture From Scratch with Dr. Bimbo Welker”

Tara Diane Sam Ace Richard Fambro Jamie Beatty

Subscribe to our show on your favorite podcast platform:

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Consider Using These Strategies! Do You Want Lower Income Taxes?

While no one likes to pay taxes, they are a necessary part of life. Although we aren’t entering tax season yet, there are still some strategies you can use to mitigate the impact of income taxes on your finances.

can help reduce your taxable income. It reduces your income tax liability because the money you put into these accounts isn’t taxed until you withdraw them during retirement. This is a great short-term strategy to reduce your income taxes. Donate to a qualified charity: While contributing to charities benefits the organization and thousands of people, it can also benefit you. Donating to

instead of a traditional 401(k). A regular 401(k) allows you to make contributions with pre-tax dollars, so you don’t pay taxes on the money you contribute. You also avoid taxes on earnings until you withdraw from the account. But with a Roth 401(k), you make contributions with after-tax money, meaning you won’t enjoy a tax break today. However, any money you withdraw later during your retirement will be tax-free. Knowledge is power when it comes to more of your wealth. If you have questions about income taxes, what deductions and credits you may qualify for, or how you can prepare for both the short-term and long- term impacts of taxes, allow your friends at DuPont Wealth Solutions to assist you.

HOW CAN YOU REDUCE YOUR INCOME TAXES? •

Take advantage of tax deductions and credits: There are hundreds of tax deductions and credits that you may not realize you can use. Some popular tax credit options include the child and dependent care tax credit, lifetime learning credit, and earned income tax credit. For tax deductions, consider medical expense deductions, mortgage interest deductions, home office deductions, and self-employment expense deductions. Invest in retirement accounts: Investing in a 401(k) or traditional IRA account

a charity can help you reduce your taxes because you can deduct your contributions from your taxable income. Regarding your finances, it’s important to consider the long-term impacts of income taxes as well. One of the best strategies you can look into to benefit you farther down the road is a Roth 401(k). If your employer offers this plan, consider paying more in taxes now and contributing to that plan

SUDOKU

APPLE CRANBERRY CRISP

Inspired by TasteOfHome.com

If you’re feeling old-fashioned, treat yourself to this warm and bubbly dish. Nothing says Thanksgiving quite like a classic apple recipe.

INGREDIENTS

3 cups peeled and chopped tart apples

1 tbsp lemon juice

• • • • •

1/2 tsp ground cinnamon 1/2 cup all-purpose flour

1 1/2 cups cranberries

• •

3/4 cup packed brown sugar, divided

1/3 cup butter, cold

Vanilla ice cream (optional)

1. Preheat oven to 375 F. 2. In a large bowl, combine apples, cranberries, 1/4 cup brown sugar, lemon juice, and cinnamon. 3. Grease an 8-inch baking dish and pour the mixture into it. 4. In a small bowl, mix flour and the remaining brown sugar. Cut in cold butter until the mixture is crumbly. Sprinkle this over the fruit. 5. Bake uncovered for 25–30 minutes or until the topping is golden brown and the filling is bubbly. If desired, serve with vanilla ice cream and enjoy! DIRECTIONS

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INSIDE

It’s My First Thanksgiving Without My Parents PAGE 1 STAFF SPOTLIGHT: Brit Houchin, Legal Assistant

Our Podcast Episodes

Client Appreciation PAGE 2 4 Ways to Mitigate Income Taxes Apple Cranberry Crisp PAGE 3 America’s 5 Best Ski Resorts PAGE 4

Experience Fresh Powder and Great Views

TOP 5 SKI RESORTS TO CROSS OFF YOUR BUCKET LIST

Temperatures are dropping and snow is falling in some parts of the country, so it’s time for some winter fun! Whether you ski, snowboard, or just enjoy the snow, here are some of the best ski resorts to check out this ski season! STEAMBOAT SPRINGS, COLORADO A little less glitzy than some of the other popular ski resorts and towns in Colorado, Steamboat Springs is extremely family- friendly with a Western vibe. Because Steamboat is tucked away in the northwest corner of Colorado, the area catches snow from both Utah and Wyoming, which means you can expect some of the best skiing powder. WHITEFISH MOUNTAIN RESORT, MONTANA While Whitefish Mountain Resort was originally a sleepy, quiet, and remote ski resort, it has gained popularity over

the past few years, but it still remains an under-the-radar ski destination with friendly locals and smaller crowds. For beautiful, lush Montana views and no ski lift lines, Whitefish is a must! MAD RIVER GLEN, VERMONT For an authentic, deep-mountain experience, Mad River Glen is considered

the best skiing mountain in the East. One of the best features of the resort is that it has single-chair chairlifts — and no snowboarders! The runs are long and the sights are gorgeous while providing an amazing ski run, throwback style! ASPEN, COLORADO Aspen just had to make this list! This incredibly popular ski resort has four different mountains, providing a wide range of terrains for all different skill levels. The ski resort town is fun, developed, and exciting as well. DEER VALLEY RESORT, UTAH A ski-only resort, Deer Valley is a quaint ski town with legendary customer service and unbelievable Utah powder. It should be noted that the chairlifts are speedy and efficient, and the trails are well-groomed. Lift lines are nonexistent, making for an exclusive and remote experience!

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