As Americans Look Ahead to a New Year, Lincoln Financial Group Shares Recommendations for Turning Financial Resolutions Into Reality
28 Dicembre 2023 - 4:00PM
Business Wire
With the new year approaching, people are setting resolutions
with goals for exercising, reading, saving money and more.
Financial planning is often high on the list when it comes to
New Year’s resolutions – with the current economic environment
impacting Americans’ specific financial goals. According to recent
research by Lincoln Financial Group (NYSE: LNC), 73 percent of
Americans believe that economic factors will worsen in 2024,
including inflation and rising interest rates.1 In addition,
research shows there is a heightened focus on budgeting, emergency
savings, increasing financial knowledge and earning more money
among those who say they're likely to set financial goals in
2024.2
As Americans reassess financial habits, set new goals and commit
to financial wellness in the new year, Lincoln Financial is
offering three steps for creating a holistic financial plan.
- Connect with a financial professional. Those who work
with a financial professional to build a well-diversified portfolio
are significantly more likely to reach their financial goals.3
Lincoln Financial offers a convenient tool to help consumers find a
certified financial professional to help them reach their
goals.
- Create a strategic plan for budgeting and saving.
Consumers can elevate their financial wellness by creating a
budget. A budget serves as a powerful tool to monitor spending,
distinguish between needs and wants and allocate funds for both
short and long-term financial priorities. Setting realistic goals
and adhering to a budget can significantly improve overall
financial well-being and help with effectively managing priorities.
Lincoln Financial suggests a straight-forward five-step budgeting
plan, starting with setting goals. From saving for a specific
short-term goal, such as paying down debt or buying a new car, to
focusing on long-term objectives like emergency savings and
retirement planning, identifying what matters most is key.
Individuals can take control of their finances by totaling income,
tracking expenses, finding extra money and, most importantly,
putting a budget into action.
- Seek opportunities to invest in options that help protect
against market volatility. In a holistic financial plan, it is
important to include products that provide safety against down
markets and help build confidence. Adding solutions like annuities,
with optional features for an additional cost, can provide
protected lifetime income to help consumers remain focused on their
long-term goals. There are even products with built-in protection
that credit investors in a positive way in flat or down-market
scenarios. With so many options, there are many ways to invest
without avoiding growth.
In today’s environment of inflation and economic uncertainty,
Lincoln Financial provides customers with the resources necessary
to ensure that they are committed to their goals from the beginning
of the year to the very end.
For more information on the products and tools that Lincoln
provides, visit www.lincolnfinancial.com.
About Lincoln Financial Group
Lincoln Financial Group helps people to plan, protect and retire
with confidence. As of Dec. 31, 2022, approximately 16 million
customers trust our guidance and solutions across four core
businesses – annuities, life insurance, group protection and
retirement plan services. As of September 30, 2023, the company had
$290 billion in end-of-period account balances, net of reinsurance.
Headquartered in Radnor, Pa., Lincoln Financial Group is the
marketing name for Lincoln National Corporation (NYSE: LNC) and its
affiliates. Learn more at LincolnFinancial.com.
1 Lincoln Financial, Consumer Sentiment Tracker, November 2023 2
Lincoln Financial, Consumer Sentiment Tracker, November 2023 3
Lincoln Financial, Consumer Sentiment Tracker, November 2023
LCN-6181336
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version on businesswire.com: https://www.businesswire.com/news/home/20231228974128/en/
Media: Ayanna Maxwell Lincoln Financial Group (240)
319-3666 Ayanna.Maxwell@lfg.com
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