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Your US credit score is probably not the first thing you think about as you prepare for a life abroad, but it’s something well worth remembering, especially if you're thinking of returning stateside someday. Maintaining a good credit score can make an eventual transition back to life in the US much easier, whether you’re looking to buy a house or just looking for lower insurance premiums, so it’s an important consideration when planning your overall financial future. Should I cancel my credit cards before moving abroad? Moving to another country doesn’t mean you need to cancel your US credit cards, it simply means you should be staying on top of them (i.e. checking your score once a year, reviewing the details, and acting on any unexpected information in the report, etc.). In fact, canceling a card may mean you inadvertently increase the proportion of available credit you are still using on other cards, unknowingly negatively impacting your credit score. Therefore, as is the case when in the US, it’s important you simply stay aware of how much credit you’re using on a monthly basis and ensure you pay it off regularly. If you intend to cancel one of your cards you ought to take into account how that will affect your overall credit picture. You may also shy away from canceling a card because the fees involved vary but can be high, so it’s important to check what you may be paying by doing so. Why should I keep my US credit cards? A great benefit of credit cards in the US is that they often have better overall rewards programs for using them compared to cards from other countries, meaning retaining an American card can mean better credit rewards (think cash back rewards, bonuses, etc.), so think twice before assuming that a credit card from your host country is automatically more beneficial. Additionally, it’s a general truism that we just never know what the future holds for us. You may find that one day moving back to the US makes sense for your personal plan and/or life goals, and so having a credit score you’ve kept well-maintained and ready to go the second you land can be a huge help in arranging your affairs (new house, new car, etc.) from the moment you touch down stateside. Planning for these potential events now can save you a lot of hassle and stress in the long run, and all it takes is a swipe of the card (even for small purchases) every now and then, and vigilance with timely payments and credit score checks! Our advisors would be glad to help you with any questions you have regarding your Credit Score. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

Smart investors don’t try to time the market for long-term success. Investors have been whipsawed during late February and early March. Consider the performance of the Dow Jones Industrial Average from February 27th through March 11th of 2020. Investors saw: The three largest one-day-losses in history – February 27th, March 9th, and March 11th The three largest one-day-gains in history – March 2nd, March 4th and March 10th What are the chances that investors timed those six days perfectly? Pretty slim. The smarter investors will implement a process called dollar-cost averaging, not market timing, for long-term financial success. Dollar-Cost Averaging Dollar-cost averaging is not new and exciting, but many millionaires next door have proven its success. The principle behind it is this: You put the same amount of money into the same investment on the same day each month. Those months when the investment’s price goes up, your set amount does not buy very many shares. But when the investment’s price dips, you get to buy more shares at a cheaper price. Guess what? When the price goes back up, all those shares you bought cheaply make you some money. Those shares you bought when the price was high look good, too. There are a few reasons to invest this way. Reason #1 It takes the guesswork out of trying to predict what the stock market is going to do. It’s easy to lose money seeking to time the market. In fact, it’s almost guaranteed. Even professional investors can be pretty bad at it. As long as you feel good about the investment you buy, and you know that the fundamentals are right, you shouldn’t care what the stock market is doing day to day. In fact, you celebrate when the market is down and you buy, because you get to buy more shares of an investment that you think has great long-term prospects. And you celebrate again when the market rallies because all your shares are more highly valued. You win either way. Also, you won’t have to put so much time and energy into investing. You can focus on your family rather than obsess over your portfolio. Reason #2 It creates a disciplined approach to building wealth. You are now on a path to save and invest regularly, building wealth one month at a time. Yes, we have all read about those hot stocks that made someone rich overnight. But for most of us, it’s going to take a working lifetime to accumulate our wealth. Reason #3 You can do this for as little as $100 per month. In fact, some mutual fund companies set up a DCA for as low as $50 per month. You don’t need thousands of dollars to get started or to continue your dollar-cost averaging plan. So, no excuses. Some Things to Do First, make sure you do your research. Make sure you are picking an investment that you feel has strong long-term growth potential. Go online and read annual reports and analysts’ reports. Dig through historical financials and understand what you’re buying and why. Second, start with a monthly amount that won’t break your bank. This is money you won’t miss on a monthly basis. Third, do work up to a DCA approach into multiple sectors and industries. If you are doing a DCA into a mutual fund, you have diversification built in. But if you are buying an individual stock, you want to eventually own five or more to reduce your dependence on one performer. Fourth, commit to a DCA program of at least 12 months. It takes time to build wealth and see the results of your efforts. Some Things to Not Do Don’t wait for the price to go up or down. The key is consistency. Don’t vary the amount based on how much is in your savings account that day, either. Set it up for the same day, same amount, same investment – good times and bad. Don’t stop it when the market takes a nosedive. If you still believe in the investment, keep investing. Remember, in a down market you are buying more shares of a good investment, cheaply. There are some market pundits who say dollar-cost averaging is dead. They show charts and graphs proving that if you used a DCA over a certain period, instead of putting a lump sum into the market on a certain day, you now have less money. If you started in mid-November 2007 through mid-November 2012, they say, you likely would not have had much of an annual return. That five-year span contained a long bear market. The DCA approach is about building wealth steadily, consistently and with discipline over time. It’s about creating and strengthening good money behavior. When you do this for 10 years and see your accumulated balance, you won’t care that you missed timing the best days in the market in 2020. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2020 RSW Publishing. All rights reserved. Distributed by Financial Media Exchange.

If you’re an expat with young children, you can't afford to ignore a major expense looming in the future–college education for your kids. Apart from building a home and planning for your retirement, funding a child's education could be the biggest expense you’ll face. Whether your child wants to go back to the United States for college or wants to study elsewhere, the price of universities is rarely inexpensive. Here’s what you can do now to prepare. Contribute to 529 Plans You can make contributions to any state's plan and use it to fund your child’s education. Make sure that you don't go over the gift tax limits in the US (these limits can be compounded for multiple years being saved in one) or your current resident country. You can use your 529 plan at virtually any accredited public, nonprofit postsecondary institution. In fact, you can also fund education at several international facilities on the list. A great resource to find out if a school is on the listed below and if you select FC for the state it will list international facilities: http://www.savingforcollege.com/eligible_institutions/ The tax benefits for 529 plans can be substantial as some offer state tax exemptions, but they always grow tax-free. They can also be used to reduce estate taxes as assets in 529s are not part of your estate. There are several 529 plans available on the market. Look for one that has low administrative costs and offers you several investment options. You will need a dynamic fund mix to help you alter the investments as your child gets closer to needing the funds. Alter the model over time moving to Lower-Risk Investments Keep investments you have made with a view to your child's college education in line with the time the funds are needed. High growth investments should be used while your children are young and you have a long time horizon. As the date gets closer to sending them off to school, eliminate all high-risk investments and ensure that a market crash doesn't impact your child's education. Focus on Currencies When you invest in your child's education, make sure that you consider currency risk. In other words, you don't want to save only in American dollars, considering the volatility of international currencies over time. As the date gets closer, make sure that you manage risk towards the currency in which he or she will study. For instance, if your child is going to study at a French university, your investments should minimize your risk to the Euro. To better understand natural hedges on currencies, check out our youtube video on the subject here. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

When working abroad, it’s common to acquire a foreign pension plan. While some Americans will reside outside of the US permanently, many will return home eventually, and in doing so are faced with the question of what to do with their foreign pension plan investment. You might be thinking that you can add your funds into a new US based pension plan like an IRA, but actually, most foreign pension plans are non-transferable because the US Internal Revenue Code does not classify them as a qualified trust. So what to do with your pension? There are a few options: You can choose periodic distribution or take a lump sum payment. The benefit of this option is that you can turn around and invest the money in a US-based account, which could offer a better range of investment choices at lower fees. Again, you will have to pay taxes on the distribution. Try to avoid pushing yourself into a higher tax bracket when you’re making distribution. In some countries you can transfer your pension to a new pension. These transfers can help you manage currency risk or estate planning. You want to make sure that the distribution method isn’t going to create future tax ramifications. You want to make sure you avoid instruments that would be considered PFIC’s, Passive Foreign Investment Companies. You can simply leave the funds in your foreign pension account until you retire. Funds accumulated in foreign pension plans have the benefit of remaining untaxed until they are distributed, so it’s often a good idea to hold off distribution as long as possible. Once you retire and withdraw from the fund, you will have to include the taxable portion on your US tax return. You may want to hedge the currency risk through a natural hedge in the portfolio or using hedging investments as outlined in our articles on currency planning. One thing to remember is that most pension plans, both foreign and in the US, charge a penalty on early distribution. The penalty only applies to the taxable portion of your pension, but it’s still best to avoid if possible. You should wait until you are at retirement age before receiving any distributions from your pension plan (59 ½ in the US, unless you use special provisions in the tax code), and should always make sure your distribution method is in accordance with the allowable methods outlined in IRS Publication 1075. Of course, each country has different rules and different tax treaties with the US, and foreign pension plans can vary. An experienced financial advisor can help you determine which option is best for you, and clarify any questions you may have. If you have any doubts don't hesitate to contact our team, our advisors would be more than happy to clarify them. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved. MArch 5th

Investing in a foreign country can be a dizzying experience. At first glance, it can seem like countries overseas offer plenty of new investment opportunities, some too good to be true. Oftentimes, they are too good to be true, and inexperienced investors can make decisions they’ll regret later. Here are some of the most common investment mistakes that Americans abroad make. 1. Over Investing or Not Investing at All Sometimes, expats get overconfident and may decide to dip their investing fingers in a variety of pies. Don't overdo investments by flipping profits, or investing profits from one market in another. Take it slow, and be cautious. On the other hand, don't fall into a horror-induced stupor. Many Americans get spooked by all of the nightmarish stories they have heard about investments abroad, and simply fail to put their money into anything at all. Take good and sound financial advice, before you invest. Take time to speak to a financial consultant familiar with the country’s laws, as well as those of the United States. When you hire an advisor, they should be both regulated in the country you're residing in and the United States. 2. Buying Foreign Mutual Funds Stay clear of foreign mutual funds. The Internal Revenue Service will consider your foreign mutual fund to be a Passive Foreign Investment Company, and you may find yourself sinking in paperwork when tax season comes around. Passive Foreign Investment Companies (PFICs) are subject to special treatment by the U.S. tax code, meaning they have much higher tax rates. Apart from mutual funds, non-US pensions, insurance policies, and certain hedge fund products are also considered Passive Foreign Investment Companies and may qualify for hefty taxes. 3. Pay fees for non-U.S. Investments If you’re buying a non-U.S. investment, you might assume you have to go through a foreign broker, but often you can actually buy through a U.S. broker for much less. In fact, there are very few investments in the world that can’t be purchased through a U.S. brokerage firm, usually for a cheaper price. Why the price difference? Investment expenses like mutual fund fees, trade commission, and brokerage fees, are lower in the United States than elsewhere. Plus, the range of investments available through U.S. brokers is usually larger than in the rest of the world. So, just because you’re living abroad or investing in foreign assets, doesn’t mean you need to forego U.S. brokers. 4. Failing to Report Taxes Right As an American investing abroad, you are now subject to a number of tax reporting requirements. The Internal Revenue Service requires Americans living abroad to file taxes. There are many reporting requirements and filing forms specifically for Americans investing or banking abroad, so do your research and make sure you’re in compliance. 5. Put Money into a Non-Qualified Foreign Pension Plan Oftentimes, Americans living abroad participate in pension plans sponsored by foreign employers. At first, this seems to make sense, as it’s what you would do at home, and these pension plans usually have beneficial tax treatment locally. But it’s important to look at not only local benefits but how these plans are treated under U.S. tax law. Most of them are not qualified and can actually have negative tax consequences, like double taxation. If you’re planning to retire on these assets, you need to be aware of your obligations to report these assets, as well as the tax treatment of your contributions. If your pension plan is not qualified in the U.S., you probably want to consider other options. Investing abroad can be lucrative and exciting, provided you are cautious, sensible, and willing to understand local culture, laws, and idiosyncrasies before you expect returns. We would be glad to help you with your queries regarding investing as a US Expat and help you plan your finances accordingly. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

Our educational cartoon As an ex-pat, you will find all kinds of potentially lucrative opportunities to invest offshore in exotic investment schemes. Apart from local pensions, which should be taken advantage of, we recommend keeping your investments with an institution in the States. As we recommend holding exchange-traded funds in our portfolios, the number of offerings in the US versus many other countries is much more extensive and therefore advantageous if building tactical strategies. Your accountant will also appreciate receiving 1099’s in which you won’t have to construct the data with or for them. You will also avoid ever having PFICs (Passive Foreign Investment Companies), which can be very costly from a tax vantage point. Your accountant also won’t have to report these accounts on your FBAR as they are held in the US, saving you time and money in filing your annual reporting to the IRS and treasury. Regulation varies considerably from country to country and while we are used to high standards in the US, and are accustomed to features like FDIC and SIPC, protection in other countries is quite different. Many countries have no qualifications needed to become financial advisors, while this is not the case here in Europe, many advisors cross the border to try to give advice to the affluent people in Europe. You can find an American’s qualifications easily online: https://brokercheck.finra.org/ You should also be able to find your advisor's qualifications on their home country's regulatory website. They can then passport (or use the license) throughout the rest of Europe. Your advisor should always be registered both in the country you're investing in (the United States) and your country of residence. Our skilled advisors will be delighted to assist you in making investments as an ex-pat that will align with your goals and help you achieve your objectives. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

So you want to be an investor - welcome to the club! Investing is not something that is saved for the ultra-rich, those born with an inherent ability to save money, or a fancy education in finance or business. It’s a skill that can be learned, practiced, and mastered by anyone who chooses to be diligent in its course! Here’s how you can get started today on a lifelong journey towards wealth through investing. Step One: Invest in knowledge. Just like learning a new language or playing an instrument, you'll need to study and practice in order to master the skill of investing. Start by reading a few books about money management from some people who know a thing or two about investments. There are millions of books available on the topic of investing, but “Rich Dad, Poor Dad” by Robert Kiyosaki, “Think and Grow Rich” by Napolean Hill, and “Total Money Makeover” by Dave Ramsey are all great places to start. These finance books will give you insight into the money habits you should be practicing and motivate you to stick with money-saving goals so you can work towards eliminating debt and saving to invest. Trust us, once you read these books you will want to keep learning more and more! Step Two: Decide what type of assets you want to own. Once you're on the right path with your money management, it’s time to start thinking about what assets you want to invest in. Assets are anything you purchase that puts money back in your pocket - real estate, business equities, stocks, bonds, notes, and intellectual property (such as copyrights, patents, trademarks, and royalties) are all forms of assets. Each type of asset has its own pros and cons, unique quirks, legal traditions, tax rules, and other relevant details. You might find yourself drawn to one, the other, or some combination of investments based on your existing resources, knowledge, personality, or the opportunities available in one asset class at any given time compared to another. Deciding which avenue is the right one for you might take a bit more research, but once you’ve decided how you want to invest you can clear the way for making proactive goals. Step Three: Save money and eliminate debt. You don’t have to wipe out all your debt in order to invest, nor do you have to save a ton of money just to get started. But it’s important to have a good grip on your finances and free up some cash flow that you can use to invest. The amount of money it will take to start acquiring assets differs depending on which avenue you decide to go down, but a general rule is that you should have a two or three thousand stashed away in emergency savings and have a plan for paying off your debt (and not acquiring more!) before you start investing money in assets. Step Four: Set your goals and get going! Once you feel confident that you’ve got a grasp on your finances and feel knowledgeable about which assets you’d like to pursue, it’s time to set your goals and be proactive about reaching them. Grab a sheet of paper and start planning your short-term and long-term investment goals. If you want to get into real estate, a short-term goal may be to purchase a duplex within two years or a commercial space within five years. If trading stocks and bonds is what you’re after, set a goal to find a broker and save the minimum deposit for your brokerage account by the end of three months and start a portfolio by the end of the year. Talking with your broker, a financial advisor or a trusted mentor can also help you set realistic investment goals for yourself and stay motivated to reach them. This is a very basic outline of the steps needed to get started on investing, there are many many tools at your disposal! As soon as you start investing your time in learning how to make investing a reality and taking proactive steps towards your goals, the money will soon follow. Please feel free to contact us at info@dunhillfinancial.com , we would be happy to help you with any doubts related to investing. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

The most common and confusing question for people planning for their retirement is the perfect age to start taking Social Security. It is quite commonly known that you can start taking Social Security distributions from the age of 62. However, very few people know that the Social Security distributions get reduced if you take them before you reach your full retirement age. You should keep the following points in your mind when you are making a financial plan for your retirement with your financial planner: When to start taking retirement benefits? The best way to decide on the perfect age when you should start taking your retirement benefits is determined not only by your present circumstances but also by your family’s current situation. You need to make sure that you are making an informed decision and are not depending on anyone else to make it for you. Make a Personal Decision Make sure you choose the age you want the Social Security distributions by, on your own. If you start taking the distributions earlier than later, you will receive a lesser amount comparatively. This decision of choosing when you would like to start receiving your Social Security must be taken solely by you. The decision varies from person to person, depending on their requirements, their dependents, and their health. The decision can also be affected by your retirement plans and if you would have other sources of income during your retirement. In order to make an informed decision, you must consider your future financial goals, obligations, and needs. You should also calculate the Social Security benefits you would receive in the future. It is an important decision to make as it will affect the monthly benefit you would receive for the rest of your life and might affect your family as well. The later you start taking your Social Security, the higher distributions you would receive Your full retirement age is determined on the basis of the year you were born in. You can visit the website: https://www.ssa.gov/benefits/retirement/planner/agereduction.html to find your full retirement age. The Social Security benefits you receive are calculated based on your lifetime earnings. The amount, however, continues to increase at the rate of 8% per annum for every year you delay taking Social Security from the age of 62 to 70. The longer you wait to begin taking the distributions, the greater the reward. This change is usually permanent, as it establishes the foundation for the benefits you will receive for the rest of your life. If you continue to work, you'll earn annual cost-of-living adjustments and, depending on your work history, higher benefits. Retirement is not as short as you think When you start planning for your retirement, make sure to have a realistic approach to your planning. Often, it happens that women end up living for a longer time than men. We often end up living longer than we initially expected. Approximately one out of every three 65-year-olds today will live to be at least 90 years old, and one out of every seven will live to be at least 95 years old. Social Security benefits are essential insurance against outliving savings and other sources of retirement income since they endure as long as you live. Social Security benefits in case you are married Your spouse will also be eligible for Social Security benefits. The amount they would receive would depend on their and your working history. In case of the demise of your spouse, you would be eligible for widowed spousal benefits. You should also consider divorce spousal benefits. However, in order to claim them, you both need to be married for at least ten years. If you and your spouse both receive Social Security benefits, it is advantageous for the higher earner to delay their Social Security benefits. In such a case, you would end up getting more benefits. After your death, your children might also be eligible for these benefits if they are under 18 years of age or if they have a disability that began before they turned 22. You can still work post-retirement You can work and earn as much as you wish once you reach full retirement age and still receive your full Social Security benefit monthly. If you're under the age of full retirement and your wages surpass specified thresholds, some of your benefit payments will be withheld for the year. This does not imply that you should aim to keep your wages to a minimum. We'll pay you a bigger monthly benefit when you reach full retirement age if we withhold some of your payments because you continue to work. As a result, working and earning more than the exempt amount will not reduce the overall value of your lifetime Social Security payments – in fact, it may raise them. This is how it works: The Social Security Office adjusts your benefit when you reach full retirement age to give you credit for months when you didn't receive a benefit due to your earnings. Furthermore, as long as you continue to work and receive benefits, the Social Security Office reviews your file every year to see if the additional earnings will enhance your monthly payment. You can find more information about it here: https://www.ssa.gov/benefits/retirement/ Medicare Benefits In case you would like to delay receiving benefits because you are working, you would have to sign up for Medicare three months before you turn 65. It is not mandatory to register for Medicare before you turn 65, you can always sign up later. However, you might have to pay an extra late enrolment fee in this case. More information about Medicare can be found at https://www.ssa.gov/benefits/medicare/ . More resources You could also visit the website: https://www.ssa.gov/benefits/retirement/ to find more information about Social Security. In order to obtain a more personalized Social Security Statement, you can access the website: https://www.ssa.gov/myaccount/ . We would be more than happy to help you with applying for Social Security and deciding on the perfect age to apply for Social Security, feel free to reach out to us at info@dunhillfinancial.com . DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

Retirement appears to be a long way off, and you have decades to prepare. However, in order to live a long and financially secure retirement, you must begin saving today. While it's a popular misperception that millennials aren't good at saving money, a little above 50 percent say they do. Seven out of ten people consider themselves savers rather than spenders, and they are now prioritizing an emergency fund or a vacation. Despite these beneficial behaviours, some people put off planning for retirement. While saving for an emergency fund is crucial, waiting to invest in retirement may not be the best option. Eighty percent of Millennials do not believe they will be eligible for Social Security when they retire. If you are just adding money to your savings account and not investing them properly while keeping your retirement plans in your mind, you might end up losing not only your retirement benefits but also, a large number of tax benefits. What are the alternatives available to you? 401(k) - This is an employer-sponsored retirement savings plan. You can pick how much you want to deduct from each paycheck before taxes, and many companies will match a portion of your contributions. Your employer's fund manager normally chooses the assets; however, you may have some say in whether you choose an aggressive or conservative strategy. If you work for a non-profit or government agency, you may have the option of contributing to a 403(b) instead. IRA – An individual retirement account, just like a 401(k) is a tax-deferred retirement savings account. This account can be set up independently as well as offered by an employer. The contribution you make each year has a cap in the case of an IRA. However, you have considerably more independence as to how you invest your money. Roth IRA – A Roth IRA is funded with after-tax dollars, that is, the withdrawals you would make after retirement would be tax-free. The contribution limit for a Roth IRA is smaller than your contribution limit or your taxable income for the year. How Risky is it to invest my money? Investments are often considered to be risky as the markets can often get quite volatile. According to a few studies, millennials are not fond of investing as they are scared that the volatility of the markets will lead to the sinking of their funds. However, they do not realize the investment returns they are missing because of this. Millennials have a significant amount of time before they retire. Hence, they should not worry about the movement of the markets. They have a lot of time to recover in case their investments go down. Additionally, you are not expected to do all your investments on your own. It is always better to discuss your plans with your financial advisor. They can help you decide on investments that would align best with your risk-taking ability. How much money do you need? Quite a few young professionals have estimated that they would need about $400,000 saved for their retirement. Although, about 50% of these admitted that they guessed this value. The goals and needs of a person differ from the other. There is not a single plan which would fit everyone’s needs. Hence, a good way to start would be by writing down a financial plan. A good practice would be to write down your goals, needs, retirement plans, long-term healthcare needs, and government assistance. It would be best to consult a financial advisor who would help you keep a track of your goals and finances while carefully creating a plan which would make your life easier and stress-free. Feel free to reach out to us if you want any financial assistance from us regarding your financial plan or investments. You can email us at info@dunhillfinancial.com or visit our website at https://www.dunhillfinancial.com/ . DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

Essentially, there are two methods which you could use to tackle debt, they are the Snowball and Avalanche methods respectively. Snowball Method: Using this method, you pay the smallest debt balances first. The way this method works is that you make the minimum monthly payments on all the debts. You also end up making an extra payment towards the smallest debt. After completely paying off the smallest debt, you start making payments to the next smallest debt. The payments of these debts continues till you are left debt-free. The only pro of this method is that you stay motivated as you pay the debts quickly. The major con of following this method of debt repayment is that you end up paying more interest in the long-term. This method works best for someone who feels happy and motivated to see results quickly. Avalanche Method: According to this method, you are required to pay the highest interest balances first. You should make minimum monthly payments on all the debts. You must make extra payments towards the highest interest loans. After completely paying off this debt, you must make payments for the next highest interest rate debt. Essentially, you continue to make debt payments till you go debt-free. The pro of this method is that you end up saving on interest in the long-term. The con of this method is that it can be demotivating as it takes you longer to repay your debts. This method specifically works for people who like to meet long-term goals and do not care much about immediate results. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

You've worked hard for years to develop a strong retirement investment portfolio. The stock market then plummets. You're $10,000 down, then suddenly $15,000 down. Now you've decided that investment is fundamentally risky. You're not going to give up until you get your money back (and then some). You increased your market capitalization. You've lost another $25,000 in a flash. Do not fall victim to this. Do you prefer to gamble or invest? Making financial decisions on your own can be dangerous, especially during times of market instability. When your hard-earned money is gone, it's easy to make poor decisions. However, when it comes to investing, it is better to think through before you make any decisions. You risk converting your properly invested savings into gambling money if you make spontaneous judgments based on emotion or the ever-present ebbs and flows of the market. Avoid becoming a gambling addict. These methods can be beneficial. Understand Your Investing Philosophy Have a clear idea of how and why you want to invest. This is necessary for making decisions that benefit your long-term financial objectives. Make sure to invest with a basic attitude of taking the bigger picture into consideration. Keep an eye on the big picture It's tempting to examine your investments on a daily basis. After all, you want to assess your performance and identify areas for improvement. However, checking your performance too frequently can be detrimental. It could make you nervous, leading you to make emotional investment judgments. Instead, review your investments once a month or once a quarter. This keeps your financial goals in mind rather than market fluctuations. Collaboration with an Expert Working with a financial professional has the advantage of reducing some of the risks associated with investing. Staying in touch with them on a regular basis will make you feel less alone in your financial decisions. They can share a load of research with you and design a strategy for implementing investments based on your objectives. This alliance is especially advantageous when your investments lose value. The majority of people who lose money in a market downturn liquidate their investments during the downturn and then reinvest when the market recovers. They basically sell low and purchase high. This makes achieving long-term financial objectives very impossible. If the market falls and you get concerned, contact your financial advisor. They should be able to help you with ideas that could help you overcome the market downfalls and help you reach your financial goals. Having an external third-party analyse your situation and keeping their analysis on hand can help you remove emotion from your financial decisions and stay on track. Have Faith in Your Financial Plan If you've worked with a professional to create a strong financial strategy, you may rest easy knowing that market volatility has been factored in. However, your financial objectives may change over time, necessitating a re-evaluation of your strategy. If you have any questions or concerns, speak with a financial professional. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.

Every time you receive your tax refunds, you might get really excited about how you would use it. However, there are better ways to use these refunds than spend them all. 1. Emergency Fund – According to experts’ recommendations, it is better to have a rainy-day fund worth three to six months of your expenses. If you have a fund with lower savings than that, it would be best to use your tax refunds and fund your emergency fund. More than 50% of the Americans have less than three months' worth of emergency funds, and a quarter have none. Having a normal savings account can generally help you with your emergency savings and keeping them safe. However, it is always better to have a Certificate of Deposit (CD) as it gives you a better rate of interest. The only point you need to keep in mind before investing in CDs are that you cannot take it out before the date of its maturity. 2. Retirement contributions – You could consider making contributions to your Individual Retirement Account. This would be the best way to save for your retirement. It would be good to consider if you would like to invest in your Roth or Traditional IRA. In case of a traditional IRA, the amount is deducted from your salary, and you end up paying taxes when you take the distributions. In case of a Roth IRA, you pay the taxes on the money before contributing to the IRA. In this way, when you start taking the distributions, you do not need to pay any taxes on them. This would help in saving for your retirement. According to experts, you must have at least 10 times your salary saved for your retirement by the time you turn 67. 3. Credit Card debt payment – You could use your tax refunds to pay your credit card bills. You must make it a point to pay your credit card debts as they charge you a high interest rate and can keep you in debt for years. Credit card debts are also known as ‘bad debt’ because, unlike mortgage and student loans, they do not pay for appreciating assets. 4. Education investments – It would be a great idea to accumulate your funds towards your child’s or your own education. Education helps in improving your salary potential, social mobility, sense of fulfilment, and even health. Additionally, if your tax returns are going into your college savings fund, you might possibly get some tax benefits as well. 5. Home Value Increment – After you have saved enough for your emergency funds and education and paid all your debts, it would be a good idea to renovate your home and invest in it. You could focus on improving the quality of your and your family’s living. 6. Charity Donations – Essentially, you could start donating your tax refunds to charities. This would not only help your tax benefits, but also, make you feel emotionally rewarding. DUNHILL FINANCIAL, LLC IS A REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN. Copyright © 2022 Dunhill Financial. All rights reserved.