To parents of my fellow Generation X members, as well as parents of Baby Boomers, we—your adult sons and daughters—want to hear from you. We want to know how your health is. We want to know how financially stable you are. We want to hear about any potential problems as soon as they occur, not after the fact.
Communicate with us. Tell us what your long-term plans are. How do you want to be cared for? If you can no longer live alone without assistance, what do you want us to do? How can we bring up the topic of getting your assistance without an argument ensuing? Have you set up all of the necessary estate documents? Can we have the name and contact information of the estate attorney you worked with? Who do you want to us to contact if there is an emergency? What are the telephone numbers of the friends you see most frequently? Are there specific wishes regarding your funeral we should honor? Have you purchased a plot and/or prepaid for funeral services? Is there anything in terms of bequeaths we should know about? Where are the important documents such as your insurance policies, wills and powers of attorney located? Do your lawyer, adviser, accountant and doctors know who we are? How about your clergy?
What banks and credit unions do you have accounts with? What brokerage firms and mutual funds do you use? What pension(s) do you have? What life insurance and annuities do you have? If you use a planner or an adviser, who is it? Can we meet them? What’s your investment strategy? Have you changed it recently? What is your strategy for taking withdrawals? When was the last time you checked to ensure the beneficiary information on your accounts is correct? If we need to access your checking account to pay bills, how do we do so? Do you have any loans outstanding or a reverse mortgage? Are you owed anything? Are you current on your income and property taxes? Do you have a safe deposit box and, if so, how do we get access to it if necessary?
More on AAII.com
- Family and Finances: Start the Dialogue – Protecting family wealth involves discussing all aspects of financial planning with both parents and children.
- 8 Steps That Will Make Life Easier for Your Heirs – These very basic steps can help to avoid hassles for your heirs at the time they are incurring great stress.
Not an AAII member? Join today
Highlights from the AAII Journal
- The Individual Investor’s Guide to Exchange Traded Funds 2016 – This year’s comprehensive ETF guide covers more than 1,900 exchange-traded funds and related exchange-traded products.
- Data Mixed on Whether Volatility is Rising – Whether or not volatility has been rising depends on if you consider it on a daily or a monthly basis.
AAII Sentiment Survey
Optimism is at a five-week high, as more than one out of three respondents described themselves as bullish for just the sixth time this year. More about this week’s results.
What’s Trending on AAII
- The Truth About Top-Performing Mutual Fund Managers
- Defined-Maturity Funds: A Bond Alternative With Compromises
- Model Fund Portfolio: Introducing the Level3 Passive Portfolio
The Week Ahead
Only 13 members of the S&P 500 are scheduled to report earnings: Best Buy (BBY), Intuit (INTU) and J.M. Smucker (SJM) on Tuesday; HP (HPQ) and PVH Corp. (PVH) on Wednesday; and Autodesk (ADSK), Dollar General Corp. (DG), Medtronic PLC (MDT), Patterson Companies (PDCO), Signet Jewelers Ltd. (SIG), Tiffany & Co. (TIF) and Ulta Salon (ULTA) on Thursday.
The week’s first financial report will be July new home sales, released on Tuesday. Wednesday will feature the August PMI Index (PMI) Flash and July existing home sales. Durable goods orders for July will be released on Thursday. Friday will feature the first revision to second-quarter GDP, July international trade, and the University of Michigan’s August preliminary consumer sentiment survey.
Federal Reserve Chair Janet Yellen will speak at the Kansas City Fed’s monetary policy symposium in Jackson Hole, Wyoming, on Friday.
The Treasury Department will auction $26 billion of two-year notes on Tuesday, $13 billion of two-year floating-rate notes (FRNs) and $34 billion of five-year notes on Wednesday, and $28 billion of seven-year notes on Thursday.
Investing the “AAII Way” has always been about distilling current financial theory and academic research into knowledge that our members can act upon. As a member of AAII, you’ll receive monthly updates on the holdings, performance and investment strategies behind our real-world portfolios. New members are rushed a special guide to our model portfolios. This guide acts as an invaluable “cheat sheet” for those who want to quickly build a personal version of their own AAII stock or fund portfolio. Join Today.