Summit Blog
Three Legal Documents to Have in Place with Your Adult Children
Begin Your Estate Planning by Defining These Three Roles
The following is adapted from Inheriting Chaos with Compassion. The death of a loved one creates chaos in our lives. There are so many decisions to be made, and our fear of making the wrong choices can be paralyzing. We find ourselves asking, What’s the next step? How will I do it? Will I do it right? When we’re drowning in big emotions, managing the financial aftermath becomes a part-time job we don’t want. To avoid leaving your loved ones in this kind of situation, you have to take measured and meaningful steps to organize your finances and get your…
Should the Percentage of Stocks You Own be 100 Minus Your Age?
It is often said that percentage of stocks that one should own in their investment portfolio is 100-minus their age. Is this a good rule of thumb? I am not sure where this “rule” originated, but like most “rules of thumb,” it may or may not be the best application to your situation. Let’s start with what stocks are and how they impact our investment returns. Stocks are literally shares of ownership in a company. If you own Microsoft stock, you own a part of the company, just like Bill Gates does, but likely in a much, much smaller proportion. …
Here’s How You Can Grow Your Wealth Through Stocks
The following is adapted from Inheriting Chaos with Compassion. If you inherit an investment portfolio from a loved one after they pass, unless you’re an investor, you might look at the mix of stocks, bonds, and other assets with total confusion. As a financial advisor, I’ve seen it happen before with clients. If you’re in that situation—or if you’re curious about stocks and how they can be used to grow your wealth—this article can help. To start, let’s answer an important question: What is a stock, anyway? Defining “Stock” When you own stock in a company, what you actually own…
