Investing & Planning

Each Halloween, or ‘All Saints Eve’, ushers in All Saints Day on November 1st.  In Christian traditions, both All Saints Day and All Souls Day (November 2nd) are annual reminders of our own mortality.

This makes each November a good time for investors to review their beneficiary designations. Make it habit to set aside an hour sometime this month and review your beneficiary designations on your IRA’s, Roth IRA’s, pensions, 401k plans, and life insurance policies.

This is especially important in years where you may have experienced a significant life change.  The death of a spouse or loved one or a divorce are events that may require you to change your named beneficiaries.

In addition to insurance and investment accounts, you should review your legal documents annually. Documents you’ll want to review include your Last Will & Testament, a durable power of attorney, healthcare directives, and any trusts you may have prepared.

Incorporating these simple reviews into an annual routine may save your loved ones from unnecessary troubles at the worst possible time.



This material is provided by Schmitt Wealth Advisers for informational purposes only.  It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product.  Opinions expressed by Schmitt Wealth Advisers are based on economic or market conditions at the time this material was written.  Economies and markets fluctuate.  Actual economic or market events may turn out differently than anticipated.  Facts presented have been obtained from publicly available sources (unless otherwise noted) and are believed to be reliable.  Schmitt Wealth Advisers, however, cannot guarantee the accuracy or completeness of such information.  Past performance may not be indicative of future results.

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