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.

1. 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.
   
   
   
   
2. 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.
   
   
   
   
3. 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

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