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Are you a football fan? If so, you understand the significance of an audible call at the line of scrimmage and how sometimes you are also forced to call an audible in life. Modern football has evolved since the late 19th century when Walter Camp at Yale University first pushed the idea of a quarterback receiving the ball from someone at the line of scrimmage. Over the years, players and referees have had to adapt to changes in the rules and new technologies. Flexibility and being able to adapt quickly are crucial skills that can help you navigate many aspects of your life, including financially. When it comes to emergency preparedness and planning, we often think about small steps taken over a long period of time. For example: Creating a budget and reviewing it regularly It not only helps you prepare for unexpected market fluctuations and changes to your life that impact you financially, but also, doing so can provide you with an idea of how much money you can comfortably put aside for emergencies. Football coaches have backup plays and players to use when their initial plans are challenged. Things inevitably happen in our lives, forcing us to call a financial audible. Being prepared can help to mitigate financial stress. Saving $10 –$20 a week in a separate emergency account Many people feel they are living paycheck to paycheck and can’t afford to save anything. Putting $10 or $20 in an account now and then might not seem like much, but money accumulates over time. Sit down and review your spending. You might be surprised at how much money you spend on non-necessities. Consider making sacrifices, like eating out less, and put that money toward an emergency fund. An emergency fund can allow you to call a life audible should you face unseen challenges. Football teams don’t have just one play; they have a playbook and many plays they can use should the first or second not be feasible. The playbook in football is the emergency account they can dip into if needed. Having a little nest egg is also helpful should you find yourself short on money when it comes time to pay your debt minimums. Focusing on reducing your debt One of the biggest financial stressors we have in life is debt. Paying debt is important because if you stop paying your debts, you could lose your car or home, or damage your credit. It would help if you also considered the late charges and accruing interest when it comes to paying debt. Significant debt can seem nearly impossible to get out of. However, you can work to put those debts behind you with a manageable strategy, steady payments, and discipline. A financial professional can help you with various techniques, including debt snowball or avalanche methods, so you can try to get on top of loans, especially those with high interest. They can also provide guidance on dealing with student loan repayment and the variety of ways you can pay those back. Reviewing your credit and ensuring nothing is lowering it Having and maintaining good credit is crucial to living a financially confident and independent life. Keeping your credit where it should be requires paying your bills and debts on time, living within your means, and reviewing your credit report periodically to ensure nothing on it is driving the score down. Solid credit also helps when you are forced to call a life audible. People with good credit can get lower-interest loans, credit cards, and mortgages while managing their financial objectives. Consult a financial professional Being willing to change with the times and understanding when to make critical decisions can benefit you, both in football and life, especially during a volatile market or game. When dealing with your finances, seeking the guidance of a financial professional can help you create strategies, design payment schedules, learn the most efficient budgeting method for your lifestyle, and keep you prepared should you wake up tomorrow and have to call an audible. Important Disclosures: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. This script was prepared by LPL Marketing Solutions Sources: Walter Camp | Biography, Football, & Facts | Britannica LPL Tracking # 1-05375121

In a single game of chess, there are approximately 400 possible moves after each move played. When investing, there is also a seemingly endless selection of choices and critical decisions. The basics of chess could potentially help you become a more adept investor. There are risks involved in investing; however, having a strategy that considers your risk tolerance can help mitigate unforeseen changes in the market from adversely impacting you over the long term. Here are six fundamentals of chess that you can apply to your investment strategy. Understand the game before you start playing Just like in chess, before you begin investing in a company or investing in general, it is essential to do your research. You should learn investing basics and research companies before you start, especially if you are a beginner. Doing so can help mitigate some of the risks involved. Chess players and investors both know you can never be entirely risk-free. However, with knowledge and the guidance of a professional, you can work toward preserving your chessboard and wealth, even in a down market. You have to think a few moves ahead As in chess, investing requires a certain amount of strategy and understanding the repercussions of a move you make three or four moves down the line. Learning how to do this requires a comprehension of the fundamentals. The hardest part about investing is that you cannot predict how the market will fluctuate. However, it is possible to recognize a healthy company from one that is potentially struggling or being mismanaged by doing your research and consulting a financial professional who has investment and wealth preservation experience. Finding the strategy that works for you Not everybody invests the same way, just like not everybody plays chess the same way. Everyone has a different risk tolerance and their own strategy. Knowing what works for you and being consistent can be a beneficial approach to a long-term strategy. Being willing to be flexible When you are playing chess or investing, sometimes the chessboard or the financial environment can change and force you to rethink your strategy or make decisions you may not have considered making. Flexibility and adapting to changing conditions can help preserve your wealth, like winning after a long chess match. Understanding the value of patience Patience when investing involves taking a long-term commitment to your strategy, being confident in both your decision-making, and believing that the market will be able to correct itself should it temporarily go down. Getting help from a professional Consider consulting a financial professional who can help guide you as you make decisions that align with your financial goals, similar to learning the basics of chess from a chess master. Important Disclosures The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by LPL Marketing Solutions Sources: Juno | All The Right Moves: 6 Money Lessons From the Game of Chess LPL Tracking # 1-05375300

Even before your children can count, they already know something about money: it's what you have to give the ice cream man to get a cone, or put in the slot to ride the rocket ship at the grocery store. So, as soon as your children begin to handle money, start teaching them how to handle it wisely. Making Allowances Giving children allowances is a good way to begin teaching them how to save money and budget for the things they want. How much you give them depends in part on what you expect them to buy with it and how much you want them to save. Some parents expect children to earn their allowance by doing household chores, while others attach no strings to the purse and expect children to pitch in simply because they live in the household. A compromise might be to give children small allowances coupled with opportunities to earn extra money by doing chores that fall outside their normal household responsibilities. When it comes to giving children allowances: Set parameters. Discuss with your children what they may use the money for and how much should be saved. Make allowance day a routine, like payday. Give the same amount on the same day each week. Consider "raises" for children who manage money well. Take it to the Bank Piggy banks are a great way to start teaching children to save money, but opening a savings account in a "real" bank introduces them to the concepts of earning interest and the power of compounding. While children might want to spend all their allowance now, encourage them (especially older children) to divide it up, allowing them to spend some immediately, while insisting they save some toward things they really want but can't afford right away. Writing down each goal and the amount that must be saved each week toward it will help children learn the difference between short-term and long-term goals. As an incentive, you might want to offer to match whatever children save toward their long-term goals. Shopping Sense Television commercials and peer pressure constantly tempt children to spend money. But children need guidance when it comes to making good buying decisions. Teach children how to compare items by price and quality. When you're at the grocery store, for example, explain why you might buy a generic cereal instead of a name brand. By explaining that you won't buy them something every time you go to a store, you can lead children into thinking carefully about the purchases they do want to make. Then, consider setting aside one day a month when you will take children shopping for themselves. This encourages them to save for something they really want rather than buying on impulse. For "big-ticket" items, suggest that they might put the items on a birthday or holiday list. Don't be afraid to let children make mistakes. If a toy breaks soon after it's purchased, or doesn't turn out to be as much fun as seen on TV, eventually children will learn to make good choices even when you're not there to give them advice. Earning and Handling Income Older children (especially teenagers) may earn income from part-time jobs after school or on weekends. Particularly if this money supplements any allowance you give them, wages enable children to get a greater taste of financial independence. Earned income from part-time jobs might be subject to withholdings for FICA and federal and/or state income taxes. Show your children how this takes a bite out their paychecks and reduces the amount they have left over for their own use. Creating a Balanced Budget With greater financial independence should come greater fiscal responsibility. Older children may have more expenses, and their extra income can be used to cover at least some of those expenses. To ensure that they'll have enough to make ends meet, help them prepare a budget. To develop a balanced budget, children should first list all their income. Next, they should list routine expenses, such as pizza with friends, money for movies, and (for older children) gas for the car. (Don't include things you will pay for.) Finally, subtract the expenses from the income. If they'll be in the black, you can encourage further saving or contributions to their favorite charity. If the results show that your children will be in the red, however, you'll need to come up with a plan to address the shortfall. To help children learn about budgeting: Devise a system for keeping track of what's spent Categorize expenses as needs (unavoidable) and wants (can be cut) Suggest ways to increase income and/or reduce expenses The Future is Now Teenagers should be ready to focus on saving for larger goals (e.g., a new computer or a car) and longer-term goals (e.g., college, an apartment). And while bank accounts may still be the primary savings vehicles for them, you might also want to consider introducing your teenagers to the principles of investing. To do this, open investment accounts for them. (If they're minors, these must be custodial accounts.) Look for accounts that can be opened with low initial contributions at institutions that supply educational materials about basic investment terms and concepts. Helping older children learn about topics such as risk tolerance, time horizons, market volatility, and asset diversification may predispose them to take charge of their financial future. Should You Give Your Child Credit? If older children (especially those about to go off to college) are responsible, you may be thinking about getting them a credit card. However, credit card companies cannot issue cards to anyone under 21 unless they can show proof they can repay the debt themselves, or unless an adult cosigns the credit card agreement. If you decide to cosign, keep in mind that you're taking on legal liability for the debt, and the debt will appear on your credit report. Also: Set limits on the card's use Ask the credit card company for a low credit limit (e.g., $300) or a secured card to help children learn to manage credit without getting into serious debt Make sure children understand the grace period, fee structure, and how interest accrues on the unpaid balance Agree on how the bill will be paid, and what will happen if the bill goes unpaid Make sure children understand how long it takes to pay off a credit card balance if they only make minimum payments If putting a credit card in your child's hands is a scary thought, you may want to start off with a prepaid spending card. A prepaid spending card looks like a credit card, but functions more like a prepaid phone card. The card can be loaded with a predetermined amount that you specify, and generally may be used anywhere credit cards are accepted. Purchases are deducted from the card's balance, and you can transfer more money to the card's balance whenever necessary. Although there may be some fees associated with the card, no debt or interest charges accrue; children can only spend what's loaded onto the card. One thing you might especially like about prepaid spending cards is that they allow children to gradually get the hang of using credit responsibly. Because you can access the account information online or over the phone, you can monitor the spending habits of your children. If need be, you can then sit down with them and discuss their spending behavior and money management skills. Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal professional. LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial. LPL Tracking #1-919179

You can learn a lot from those who have come before you. For individuals interested in investing, especially those new to it, learning and applying the wisdom from people that have found techniques that worked for them is a great strategy because their methods may also benefit you. Here are ten tips from the world’s greatest investors that they used to pursue their financial goals. Preserve Your Wealth 1. Warren Buffett – “Rule number 1 is never lose money. Rule number 2 is never forget rule number 1.” The quote above, by American investor and the founder of Berkshire Hathaway, Warren Buffett, is considered his golden rule. He is conveying that an investor’s priority should be capital preservation instead of going for capital growth with a full head of steam. Do Your Research 2. Benjamin Franklin – “An investment in knowledge pays the best interest.” Benjamin Franklin, one of America’s early investors, co-founded a newspaper and began investing in land. A savvy investor and lifelong learner, Franklin is well-known as a strong advocate of investing in knowledge and education. Acquiring relevant knowledge is one of the critical fundamentals of sound decision-making. Thus, making choices based on insight is essential when managing risk, mitigating error, and investing strategically. Understand What You Own 3. Peter Lynch – “Know what you own, and know why you own it.” According to American investor and mutual fund manager Peter Lynch, wise investors should always keep the reasoning behind their investment strategies in mind. You may have a friend or a family member who has mentioned purchasing a stock or investment instrument, and when you ask why they did, they respond, “I read on the internet that it was selling at a good price.” What Lynch means is to educate yourself about the company (what do they do, where, and how do they go about manufacturing products or managing services), research the health of the company, for example, learning about and analyzing the price-to-earnings ratio (the current share price relative to its per-share earnings, and the beta to determine how much risk is involved with purchasing the stock compared to the market), the efficiency of the officers, and the competitive advantage of the products or services in the market. Be Patient 4. Shelby M.C. Davis – “Invest for the long haul. Don’t get too greedy, and don’t get too scared.” Being patient is also a common subject well-articulated by the world's great investors. Shelby M.C. Davis, an American philanthropist, retired investor, and money manager, also values patience as a crucial fundamental of investing. Too often, people want to go for the quick buck or see the market begin a downward trend, get nervous, and pull their money out. Historically, the market has always balanced itself out over time and continued to trend upward. Learning to be patient is critical if you are interested in wealth preservation and growth as an investor. Don’t Be an Emotional Investor 5. Carlos Slim Helu – “Courage taught me no matter how bad a crisis gets…any sound investment will eventually pay off.” Mexican business magnate and investor Carlos Slim Helu makes an essential point about investing. Despite market downturns now and then, if you have solid investments, they could eventually bounce back. Keep your emotions on the back burner and trust in the quality of your investments. All Investing Involves Risk 6. Mellody Hobson – “The biggest risk of all is not taking one.” President and co-CEO of Ariel Investments, Mellody Hobson, touches on a factor of investing that affects all investors, the fear of losing money. All investing involves risk; however, there are ways that an investor can mitigate this risk with careful research and consulting a financial professional who can help work towards a strategy that will work for you as you pursue your financial goals. Don’t Guess 7. Benjamin Graham – “The individual investor should act consistently as an investor and not as a speculator.” British economist, investor, and mentor to Warren Buffett, Benjamin Graham, cautions against investors being speculators and trying to predict the future or guess on investments. The renowned father of value investing instead encourages being thorough and logical in investment strategy. Have a Strategy 8. Abigail Johnson – “I demand pretty aggressive goal setting and a commitment to measured progress toward those goals because I don’t like surprises. I don’t even like good surprises.” Abigail Johnson, CEO of Fidelity Investments explains the importance of having a strategy and sticking to it regardless of what the market is doing in the short term. A plan that is conducive to your risk tolerance, investment goals, and personality can help you navigate uncertain times and market volatility and will help to keep “surprises” to a minimum. There are Benefits to Investing Early in Life 9. John C. Bogle – “Enjoy the magic of compounding returns. Even modest investments made in one’s early 20s are likely to grow to staggering amounts over the course of an investment lifetime.” American investor and founder and chief executive of The Vanguard Group John C. Bogle suggests beginning your investing journey as young as possible. Over time the money will accumulate, and an investor can discuss suitable techniques with a financial professional like reinvesting dividends, to get as much out of their money as possible. Discipline 10. Allison Vanaski – “You must be able to set aside money today, for some point in the future when you won’t have an income.” Allison Vanaski, Senior Financial Planner and VP of Investments with Arcadia Wealth Management, talks about the importance of discipline when it comes to creating wealth. People often claim that they don't have enough money to invest. However, you can cut back on some things in terms of day-to-day spending and invest that money instead. This requires a certain amount of discipline, along with continuing to add to your portfolio without taking money back out to spend it. Take Action Taking action is another characteristic that all great investors have in common. They recognized an opportunity and moved on it. Consider scheduling an appointment with a financial professional and allow them to mentor and help you as you pursue your financial goals. Important Disclosures The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. Past performance is no guarantee of future results. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by LPL Marketing Solutions Sources: 20 Warren Buffett Quotes To Build Wealth | Sarwa How to Determine What Stocks to Buy: Things to Know (investopedia.com) Top 41 Investment Quotes: Buffett, Graham, Lynch & More - Dividend.com Wisdom of Great Investors – Quotes | Davis ETFs LPL Tracking # 1-05370921

Money concerns can be overwhelming to the point that they affect other aspects of your life, including your mental and physical well-being. However, there are various strategies you can use to help you better manage and alleviate this stress while also staying on top of your finances. What is financial stress? Financial stress is a state of worry, anxiety, or emotional tension related to money, debt, and upcoming or current expenses. It can be caused by a variety of factors, such as low income, job loss, unexpected expenses, and high debt. And as with other stressors, it can take its toll on your health. According to the American Psychological Association, prolonged periods of stress can lead to increases in anxiety, depression, blood pressure, sleep-related issues, headaches, and muscle pain. It’s important to your overall well-being that you do what you can to lessen your financial stress, proactively taking control of your finances and working toward a healthier future. How to combat financial stress No one’s stress is the same, so what you do to combat it will depend on your current situation. The first step is identifying the source of your money stress, which will allow you to better address the root of the issue. To help you work toward living a healthier life, here are a few ideas on how to do so. Get organized with a budget Organization is key to managing financial stress. By tracking your income and expenses, you can better determine where your money is going each month. One way to do this is by creating and following a budget. This involves developing a plan for how you’re going to spend your money, which can allow you to stay on track with your financial goals and, in turn, reduce your stress levels. There are several different budgeting methods, so find one that works for you and stick to it. It’s only once you have a clear understanding of your current financial situation that you can start to make changes to reduce your spending and save more money where possible. Pay down debt Debt can be a significant source of financial stress, and it’ not one that always feels easy to get on top of. But that doesn’t mean it’s impossible. Start by listing all your debts, including credit card balances, student loans, and mortgages, and find a debt repayment method that suits you. For instance, the snowball method allows you to prioritize certain debts based on their total amounts, while the avalanche method targets those with the highest interest rates. By establishing a strategy, you can proactively work to regain control of your finances. Save for emergencies Unexpected expenses can strike at any time, causing significant stress if you’re unprepared. An emergency fund acts as a safety net, providing a buffer for when these instances do arise. Ideally, you should have enough savings to cover anywhere from three to six months’ worth of living expenses. If you don’t currently have an emergency fund, start small by setting aside a portion of your income each month and gradually build up your savings to cover your expenses. This can give you more financial security and help you better handle challenges in the future. Manage your overall stress levels Stress can compound, meaning that the more stressed you are in other areas of your life, the greater your financial stress will be. This makes it vital to prioritize your self-care and practice stress management techniques. Regularly engage in activities that help you relax and unwind, such as exercise, meditation, or other fun hobbies, and take care of your health by eating well, getting enough sleep, and seeking emotional support from loved ones. Get help if you need it If you’re struggling to manage your finances on your own, don’t be afraid to ask for help. Consult a financial planner or advisor who can offer guidance tailored to your specific situation. They’ll be able to assist you in creating a long-term financial plan and suggest strategies to help you better manage your debts or unexpected expenses. This professional support can provide more clarity and give you greater peace of mind. Remember, managing financial stress is a journey that requires patience and perseverance. Be kind to yourself, seek help when needed, and stay committed to your financial goals. With time, dedication, and the right strategies, you can overcome financial stress and work to manage it in the future. This article was prepared by ReminderMedia. LPL Tracking #1-05374815

Retirement planning is a constantly evolving process. Strategies that may have worked fine a few years ago may no longer be the optimal direction to continue. Your life may have taken unexpected turns, you may have different retirement goals you now wish to achieve, or you’ve realized your previous investments may not be working as well as anticipated to help you reach your financial goals. Now is the time to consider a ‘retirement re-education’ by reviewing your retirement plan and overall strategies to see if they still align with your greater plans and goals. Evaluating Your Current Plan When sitting down to review your current retirement plan, you may want to: Check your current investments: Markets have seen significant fluctuations throughout the years, so it is crucial to observe if your investments remain on track to get you toward your retirement goals. Make sure fund percentage balances are still appropriate and that your portfolio is well-diversified and in line with your current situation and future plans. Check for contingencies: Ensure you have protection in place should the unexpected occur. This can start with insurance policies addressing long-term care, disability, and even death. You also want to ensure proper medical coverage to avoid being responsible for major medical expenses. Ensure your retirement plan is tax-efficient: Seeking tax benefits will help you find ways to minimize taxes in your retirement portfolio. This focus can include placing taxable investments into tax-deferred accounts. Evaluate changing family needs: If you have experienced recent adjustments in your family's situation, consider how those changes can affect future finances and if any adjustments need to be made.1 Why You May Need to Revise Your Retirement Plan Giving your retirement plan a once-over every couple of years is generally a good practice, but there may be situations when revising it sooner may be more urgent. Reasons to consider a revamp include: Life event changes: If you have had significant life event changes, such as a new marriage, a divorce, a serious illness, the birth of a child, providing for step-children or grandchildren, or the death of a spouse, you may need to make significant changes to your retirement plan to realign with your new future goals. Lifestyle changes: Moving to a new state, having significant changes in housing and related costs, or considerable health changes all may warrant a change in direction with your retirement goals. Dramatic economic fluctuations: If domestic or global financial conditions have become unpredictable or there have been significant market fluctuations recently, it’s smart to review possible effects on your retirement investments. Economic situations that may prompt an urgent review include rising or falling interest rates, inflation, recessions, and significant Social Security changes.1 Important Disclosures: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Investing involves risks including possible loss of principal. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess. LPL Tracking #1-05372230 Footnotes 1 5 Ways To Adjust Your Retirement Planning Annually, Forbes, https://www.forbes.com/sites/nextavenue/2020/03/05/5-ways-to-adjust-your-retirement-planning-annually/?sh=4110847f52af

Financial education is constantly evolving. As investments, financial priorities, and the economy change, so do financial strategies and plans. To stay on top of your retirement and ensure that you are on your way toward your financial goals, it’s vital to keep up with your financial education and awareness so that you will be able to make appropriate decisions regarding your financial future. Whether you are preparing for your retirement, just starting your retirement journey, or are already a seasoned retiree, below are a few considerations to keep in mind as you continue on this path. Be Mindful of Your Budget Budgeting carefully and appropriately will help reduce your risk of a financial setback and better prepare for unexpected expenses. Your earning power is usually reduced when you retire, and your budget will be more limited to what you have been able to put away, along with a monthly Social Security payment. By limiting expenses and creating a budget that allows for savings and emergency expenses, you will hopefully be able to stretch your nest egg throughout your retirement. Fraud Proof Your Retirement Older adults are often the target of scammers and fraud. A trusting nature and the desire to help those in need that many in this age group have makes them especially vulnerable to those who want to prey on the kind-hearted. You should consider putting fraud safeguards in place to help reduce your risk of becoming a victim. These can include putting your phone numbers on "do not call" lists, using fraud protection features on debit and credit cards, having your credit monitored, and setting up alerts for family members to be notified of large or unusual withdrawals from your accounts.1 Research All Social Security Benefit Options Many overlooked aspects of Social Security leave many seniors missing out on benefits they may be entitled to but don't know to apply for. More commonly overlooked Social Security benefits include: Spousal benefits Survivor benefits Divorced spouse benefits Disability insurance 2 Plan for Medical Expenses and Insurance Costs As you age, you are more likely to require costly medical testing and treatment to maintain your health. Unfortunately, medical costs continue to rise each year. One of the first steps to take to manage medical costs is to find appropriate Medicare coverage to ensure that you can minimize monthly costs and the cost of your medical needs. You will also want to plan for future high medical costs and expenses, including long-term care, even if you have a good healthcare policy in place. Including medical expenses in your monthly budget will help with this as well as purchasing insurance policies, such as long-term care, to provide additional cost coverage. 2 Important Disclosures: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Please keep in mind that insurance companies alone determine insurability, and some people may be deemed uninsurable because of health reasons, occupation, and lifestyle choices. Guarantees are based on the claims paying ability of the issuing company. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess. LPL Tracking #1-05372230 Footnotes: 111 Money Tips for Older Adults, US News and World Report, https://money.usnews.com/money/personal-finance/slideshows/11-money-tips-for-older-adults 2 A Guide to Finance for Seniors, Senior Living, https://www.seniorliving.org/finance/

Retirement is a time that many of us look forward to our entire careers. It is the reward for a lifetime of work and the time to indulge in hobbies and enjoy much-needed vacations. While everyone looks forward to this seemingly-magical moment, if it is not the ideal time or plan, you may be in a poor financial position and unable to enjoy your retirement as you envisioned. Not sure if your retirement plan is still in line with your future life or financial goals? Below are a few reasons to give your current retirement plan a second look. 1. Your 401k Has Not Grown as Much as You Expected Decades ago, pensions provided a significant income for retirees who had worked with a large corporation for a specified number of years. Over time, pensions have gone by the wayside, and employers have replaced this option with company matches for 401k contributions. Unfortunately, 401ks require employees to determine contributions. If they fail to consider possible market fluctuations with their funds, they may not be contributing enough to save for their retirement. Now that most pensions are a thing of the past and 401ks are the primary retirement vessel, almost half of American households are finding they will not be able to retire with enough savings to maintain their desired standard of living. If your accounts are not where you expected them to be, it may be ideal to increase your contributions or reconsider what you need for retirement.1 2. You Still Have a Lot of Debt With the cost of living continuing to go up, your expenses in retirement will continue to rise as well. If you already have a significant amount of debt to pay down, that may make living on your retirement savings even more difficult. While some debt may be hard to avoid in retirement, significant debt, high-interest rates, or debt requiring large monthly payments may derail your retirement plans. If this is the case, you may need to push off retirement a few more years and work hard at paying down your debt to a more manageable level.2 3. You Don't Have a Plan in Place for Major Expenses While everyone hopes to avoid major expenses, they are, unfortunately, a part of life. Eventually, you may need to buy a new car, pay for a new roof, or upgrade your HVAC system. Ideally, you should tackle as many of these large expenses as you may anticipate before you retire so that they do not eat into your retirement savings. After you have taken care of what you know you will need to take care of, you should also put away more into your savings for possible large future expenses so that you won't need to pull the money out of savings that you are relying on for monthly expenses.2 Important Disclosures The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial professional prior to investing. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess. LPL Tracking #1-05370165 Footnotes 1 Now Is The Time To Re-Think Retirement Plan Conventional Wisdom, Forbes, https://www.forbes.com/sites/dandoonan/2021/06/30/now-is-the-time-to-re-think-retirement-plan-design/?sh=29b3aa7eae53 2 10 Signs You Are Not Financially OK to Retire, Investopedia, https://www.investopedia.com/articles/personal-finance/021716/10-signs-you-are-not-ok-retire.asp

What does the term "financial freedom" mean to you? For some, it means freedom from a particular workplace or industry. For others, it means the opportunity for an early retirement or the ability to start a long-desired business. Consider these three strategies that may help investors pursue financial independence on this Independence Day. Start Early The power of compounding might be significant—the more you invest sooner, the longer there is for the compounding effect to help. In general, having more time invested in the market helps manage day-to-day volatility and possibly major recessions. If your retirement is not for another 20 or 30 years, a recession may be good news for your investments, as it may allow you to invest funds in long-term assets at historically-low prices. Accurately Assess Your Risk Tolerance Suppose your investments lose 40% of their value; what might you do? Are you content to let them ride (after researching the stability of the underlying assets), or would you be tempted to go to cash for a while? Everyone's risk tolerance is different. It is crucial not to invest beyond your tolerance. For some, this means an aggressive portfolio that includes mostly stocks. For others, this may mean bonds, Treasurys, and other assets. There is no wrong answer, but forcing yourself to invest more than you are comfortable with or in assets you are not comfortable with could set you up to make unwise knee-jerk decisions the next time there is market volatility. Build Your Desired Portfolio Many investors subscribe to the "lazy" portfolio method—a set-it-and-forget-it mix of index funds or exchange-traded funds (ETFs) that follow a particular index. For example, many ETFs and index funds follow the major market indices, including the Dow Jones, the NASDAQ, the S&P 500, and the Russell 2000. By investing in these broader funds, you might diversify your portfolio without the effort of researching, picking, and following individual stocks. There are several advantages to the lazy portfolio approach, including: Instant diversification Relatively low fees Simplicity Though you need to monitor your investments regularly, you do not need to research particular stocks or companies in-depth to feel confident about the investments. The major market indices automatically rebalance—for example, if a company underperforms and no longer has the market cap requirements for the S&P 500, it is cycled off the list and replaced with a new company. Your financial professional works with you to evaluate your risk tolerance and then can help you choose a basket of assets for your portfolio. Important Disclosures The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial professional prior to investing. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. All indexes are unmanaged and cannot be invested into directly. An investment in Exchange Traded Funds (ETF), structured as a mutual fund or unit investment trust, involves the risk of losing money and should be considered as part of an overall program, not a complete investment program. An investment in ETFs involves additional risks such as not diversified, price volatility, competitive industry pressure, international political and economic developments, possible trading halts, and index tracking errors. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss. Dow Jones Industrial Average (DJIA): A price-weighted average of 30 blue-chip stocks that are generally the leaders in their industry. The NASDAQ-100 is composed of the 100 largest domestic and international non-financial securities listed on The Nasdaq Stock Market. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology, but does not contain securities of financial companies. S&P 500 Index: The Standard & Poor's (S&P) 500 Index tracks the performance of 500 widely held, large-capitalization US stocks. The Russell 2000 Index is an unmanaged index generally representative of the 2,000 smallest companies in the Russell Index, which represents approximately 10% of the total market capitalization of the Russell 3000 Index. This article was prepared by WriterAccess. LPL Tracking #1-05370165

If recent market volatility has you questioning your opportunities for financial freedom, you are not alone. Due to rising inflation, higher interest rates, a volatile stock market, and recession fears, many investors find themselves wondering how to proceed. Fortunately, history may help gain perspective on this market. Those who weather volatility might have more resilience. Here are some tips and tricks to help you deal with market volatility and assess the quality of your current investments. Your Emotions are Real, Just Not Valid as Investment Guidance Behavioral science research shows that most people left to their own devices are below-average investors.1 The reason for this is that it is easy to make poor decisions based on emotion, such as: Selling a stock that has dropped in value, only to see its value rise afterward. Sitting out of the market entirely during a recession and then beginning to invest again only after asset values rise, missing the chance to invest during the lows. Using the “you only live once” (YOLO) 2 strategy to invest (gamble) everything in the new hot penny stock or cryptocurrency. But while it is natural to experience strong emotions during volatile times, acting on them is another matter. Unless you have insider knowledge about a particular stock or company (and trading on that knowledge is illegal), the market has already reacted when you hear the news that tempts you to change your investment strategy. In other words, it is almost impossible to time the market. If You are Happy With Your Investment Plan, Sit Tight If you avoid the temptation to tweak your investments when asset values rise, adjusting them during a market downturn may not be a good idea. However, market volatility may sometimes reveal weaknesses in an investment plan or suggest a different asset allocation. Working with a financial professional to outline your risk tolerance, desired asset allocation, and investment timeline to create a managed portfolio for both bull and bear markets might be helpful. Ultimately, it can help if you have a portfolio that allows you to sleep at night, no matter what the market is doing. For some, this may mean holding a substantial cash balance. For others, this may mean investing in index funds instead of picking stocks. Whatever approach you select should help you mitigate investment anxiety and allow you to hold on for the long term. By being proactive and planning your investments before you face a crisis, you may better manage reactive decisions that might harm your portfolio in the long run. Important Disclosures The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial professional prior to investing. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. All indexes are unmanaged and cannot be invested into directly. Asset allocation does not ensure a profit or protect against a loss. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess. LPL Tracking #1-05370157 Footnotes 1 What FAs need to know about behavioral science in finance https://www.bcgbenefits.com/blog/behavioral-science 2 From YOLO to diamond hands, here are 9 pieces of lingo you need to learn before diving into Wall Street Bets https://markets.businessinsider.com/news/stocks/reddit-wall-street-bets-lingo-guide-glossary-yolo-diamond-hands-2021-5-103045077

Being a small business owner can be rewarding but also may bring a lot of stress. You may be experiencing the pressures of trying to grow your company while providing a solid future for your employees. On top of all that, you will also need to focus on building financial independence for yourself and for your business. There are many paths to financial independence; below are a few directions to get you started. Optimize Your Current Assets One of the first steps toward financial independence is optimizing your current assets. This could take the form of increasing the profitability of your business by increasing your marketing, reducing your current costs and expenses, finding ways to reduce your tax burden, or continuing your education. You will need to take an inventory of your current assets and expenses and develop a strategic plan to optimize these factors and help your company reach its potential.1 Pay Down Debt There are two primary types of debt: productive and reductive. Productive debt is debt that helps nurture your financial growth and puts you on the path toward financial freedom. Reductive debt, on the other hand, is debt spent on items that will depreciate in value and not provide boosts to revenue or income. It is similar to credit card debt, and eliminating or at least reducing it can put you and your business on a path toward overall independence. Assess all of your debt and develop a plan to pay it down aggressively until it is eliminated.1 Beef Up Your Savings Savings are vital for yourself and your business since they will help you build wealth and financially prepare you for unexpected expenses. One way to increase savings as a business owner is to take advantage of your company's savings plans. This can include IRAs, 401ks, and health savings accounts. You may also want to look at the various investment options for your personal and company funds that can create long-term returns.2 Give Your Insurance the Once Over While growing company assets is crucial to achieving solid financing, so is insuring them. Without proper insurance, you risk losing what you’ve gained through your hard work. Review your insurance policies to make sure that you not only have all of your assets covered but that you have proper coverage limits. Policies you should consider reviewing include life insurance, disability, business, long-term care, health, and property and liability coverage.2 Follow the above tips to put yourself on the path to financial independence. Assistance from a financial professional can assist you in your wealth management efforts and overall financial goals. Important Disclosures The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) or insurance product(s) may be appropriate for you, consult your financial professional prior to investing or purchasing. Investing involves risks including possible loss of principal. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess. LPL Tracking #1-05370165 Footnotes 1 “The 4 x 4 Financial Independence Plan for Entrepreneurs,” Entrepreneur.com, https://www.entrepreneur.com/leadership/the-4-x-4-financial-independence-plan-for-entrepreneurs/306064 2 “How Entrepreneurs Can Safeguard Their Financial Futures—And Work Toward Financial Freedom,” Forbes, https://www.forbes.com/sites/forbesbusinesscouncil/2023/02/14/how-entrepreneurs-can-safeguard-their-financial-futures-and-work-toward-financial-freedom/?sh=123c28f17a65

Golfing and investing may not seem to share much common ground at first glance. But the more you think about it, a successful golfer and a successful investor share a number of traits such as patience, perseverance, attention to detail, and intellectual curiosity. Below, we discuss a few areas investing and golf have in common—as well as a couple of tips you can use to make sure your investing game is as successful as your golf game. One Bad Shot Can Ruin Your Game Even if you make it to the 16th or 17th hole while staying well under par, just one triple-bogey can put you back at square one. Similarly, one bad investment can wipe out a major chunk of your balance sheet. This is one reason it's a bad idea to invest in a single stock or asset—diversification is key. The More Information, the Better You wouldn't take a swing while blindfolded—so why would you invest in assets you aren't familiar with? The more information you can obtain about your investments, the more comfortable you'll be in making investing decisions. Don't invest in a new asset without first considering the potential consequences. Remember, every dollar you have invested in one asset is a dollar you can't invest somewhere else, so choose wisely. Consider Your Appetite for Risk Golfing requires a number of risk-assessment decisions—to try to escape a sand trap or take a drop, or to attempt a difficult shot on the off chance you'll make it. But if you're consistently playing (or investing) beyond your risk tolerance, you could find yourself disappointed in the results. Instead, consider the risks you're willing to take and make sure they're compensated ones—that is, risks that have a reasonable chance of turning out in your favor. Focus on the Process, Not the Outcome Even the most experienced golfers have off days—and often, there's not much you can do to combat them other than playing through and trying again the next round. But by sticking to a consistent process, practicing, and reevaluating when things don't work out, golfers can increase their chances of a successful day on the links. In the investment sphere, you can implement this strategy by focusing on the quality of the decisions you're making, not the way one particular investment is rising or falling. You'll also want to put measures in place to prevent you from making knee-jerk decisions, like selling an asset while it's falling or buying into a bubble due to FOMO (Fear of Missing Out.) While outcomes are important, in a diversified portfolio, the rise or fall of an individual investment shouldn't be more than a blip on your radar. Because individual investments can be fickle, especially when chosen seemingly at random, creating an investing system and sticking to it can increase your likelihood of positive future outcomes. Important Disclosures The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial professional prior to investing. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. This article was prepared by WriterAccess. LPL Tracking Number 1-05367404