A Request to Parents of Gen Xers and Baby Boomers


Investor-UpdateTo 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?

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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.

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