Normally our quarterly newsletter is dedicated to investment related matters including market performance and news related to individual issues that may or may not be in your accounts. While important, your investments are only one facet of your total financial plan. For this issue of the newsletter, we would like you to think about the following in terms of your total financial plan.
1. Have you recently had a life changing event (marriage, divorce, childbirth, etc.) that warrants a new look at your current financial plan?
2. Are you on track for your retirement, college savings, or other savings/investing goals? When was the last time you updated these projections? Do you have well thought out, written goals for these objectives?
3. When was the last time you reviewed your life and/or disability insurance coverage? Is your current life insurance coverage adequate for your needs? Do you need to increase or decrease your coverage to reflect current needs? Is your current disability insurance in line with your current salary and needs should you become disabled?
4. Do you believe that, at some point in your life, you will require Long Term Care services (nursing home, home health care, etc.)? If so, what action have you taken to address this issue?
5. When was the last time you reviewed your wills, powers of attorney, and advanced healthcare directives? Do these documents meet your current needs? Are the Personal Representatives named in these documents aware of your wishes, and are those representatives still valid for your current situation?
6. Are the primary and contingent beneficiaries on your investment accounts, life insurance policies, and wills up to date? Do these beneficiary selections meet your current wishes as to the disposition of your assets upon your death?
If any of the above questions cause you concern, or if you would like to begin the discussion concerning any or all the above issues, please contact our office to set up an appointment. As financial planners and Chartered Financial Consultants®, we are invested in ensuring we address not only your investment portfolios, but also the areas listed above.
On another note, you all know that we have had some personnel changes at the firm this year. We appreciate your patience as we have worked to overcome these challenges. In July, we welcomed Lisa Bolduc to our administrative team. Lisa brings a wealth of experience, ranging from Air Force service to non-profit work, and has already proven herself to be an invaluable asset to the Eagle Financial team. We are very glad she accepted our job offer!
Those of you who have positions in the private placement real estate investment trust sponsored by AR Global will see a reduction in your quarterly bill. This is due to the fact that the redemption programs for these issues have been temporarily suspended. Once the companies resume their redemption cycles, we will begin billing on these positions again.
And finally, with the announcement that Equifax, one of the “big three” American credit bureaus, suffered a serious cyber-security breach recently we want to ensure our clients that keeping your personal identifying information secure is a top priority for our firm. While we feel that we’re taking proper steps in our firm’s security measures, we’re encouraging our clients and their family members to also take steps to help protect their identity and reduce potential security risks. We invite you to visit our website and view our Reducing the Risk of Cyber-Security Threats blog post.
We greatly appreciate your continued trust in Eagle Financial Strategies. From all of us here, we hope you have a great fall.
Very Respectfully Submitted,
Park O. Johnson III Andrew W. Shuman