The Lead Comment
If you are . . . Widowed . . . Divorced . . . Single Parent . . . or just want to be diligent about our planning please read the New York Times article directly below -- What Millennials Need to Ask their Parents. Financially, our lives are often much more complex – with many more moving parts – than a generation ago. It therefore becomes much more important to share with someone the confidential details of your financial life – should you be intellectually incapacitated and unable to make your own decisions.
If you do not share this information with someone, the lack of information will make it much more difficult for your financial decision-maker (e.g. holder of a Durable Power of Attorney) to act in your best interests. If you die, that financial decision maker / Personal Representative / etc. will / should be working in the best interests of your stated heirs per your wills, trusts and beneficiary designations. The lack of complete information will make that Financial Decision-Makers job much more difficult, expensive, and raise the probability that decisions made are not as closely aligned with your and / or your heirs best interests as they otherwise would be.
The How-To Articles
What Millennials Need to Ask their Parents . . . New York Times
8 Ways Baby Boomers Are Reinventing Retirement . . . Kiplinger
The Finance – Economic – Political Articles
Tax Individuals, Not Couples . . . Real Clear Markets
The Real Washington Scandal? The War on Youth . . . . Real Clear Markets
The seven craziest findings in the U.S. investigation of Apple’s tax avoidance practices . . . . Quartz
Other Reads
The Obamacare Shock . . . . New York Times
Brookline Financial Advisor
If you’re looking for a Brookline Financial Advisor – or if you’re happy to work virtually – visit me at my Coolidge Corner office. Or call or email me anytime with your questions!
Investments in securities do not offer a fixed rate of return. Principal, yield and / or share price will fluctuate with changes in market conditions and, when sold or redeemed, you may receive more or less than originally invested. The views are those of Bruce Mazo and should not be construed as investment advice. All information is believed to be from reliable sources; however, we do not make any representation as to its completeness or accuracy. Investors cannot directly invest in indices. Past performance does not guarantee future results.