February 2020

Do You Have a Death Plan?

Submitted by Moneywatch Advisors on February 27th, 2020

Let’s face it, unless you’re Homer Simpson, you are going to age and, yes, eventually die. Only Homer gets to live forever. And while death is not something pleasant to think about, nor something to dwell on, it is something we should have a plan for. A death plan, for lack of a lighter term, helps you maintain control of the main decisions that are important to you and helps take part of the burden off the shoulders of your loved ones at a time when they will need the assist. Here is a list of the primary items that should be in all of our plans:

"At Least You Can Serve As a Bad Example"

Submitted by Moneywatch Advisors on February 13th, 2020

A good friend says his dad used to tell him when he screwed up that “at least he can serve as a bad example.” In that spirit, someone told me almost four years ago that he had impulsively moved about $250,000 of his retirement account from stock mutual funds to cash because he feared the stock market was about to plummet. Any guesses what happened next? That’s right – the market jumped to new heights. This person then decided to re-enter the market by re-purchasing his stock mutual funds that were now worth much more than when he’d sold. I calculated that his sell-low, buy-high strategy cost him roughly $35,000.

February 2020 Newsletter to Clients

Submitted by Moneywatch Advisors on February 6th, 2020

Enjoy this month’s edition that features a note about tax forms from TD Ameritrade plus a review of significant changes to retirement plans made by Congress.

Your Credit Score May Soon Change - Here's How

Submitted by Moneywatch Advisors on February 6th, 2020

I remember my freshman year of college when some buddies and I faced the first exam of our post-secondary experience. Despite being a mid-semester test in a rather inconsequential class, we decided it would be prudent – and fun – to “pull an all-nighter” studying. Well, we were partially right, it was fun - although our friends who simply studied a couple of hours and then got a regular night’s sleep did much better than we did. Ironically, until recently, it actually DID pay off to prepare your credit history by cramming right before you needed your score. Not anymore.

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