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When Bill Clinton ran for president, his internal campaign slogan was, “It’s the economy, stupid,” which meant that the economy was the big issue, the one that drove all others. Today I believe that the government is driving the economy, and so as we try to assess the risks to the stock and bond markets—and therefore to investments in our client portfolios—I think, “It’s the government, stupid” is a good internal slogan.
To analyze that statement,
Retirement can be a surprisingly stressful time. According to t, several of the top ten life stressors tend to occur in our older years, including: the death of a spouse, the death of close family members, personal illness or injury, and even retirement itself (without considering the other factors).
You would think that after working all those years and putting money aside that you’d be stress-free and ready to play, to do all the fun stuff you’ve been putting off.
When creating a trust, there are two basic ways to go: the revocable or the irrevocable trust. What’s the difference?
To begin with, “revocable” means “capable of being revoked” or “changeable.” If you create a revocable trust, you can change the terms and details whenever you want. And yes, “irrevocable “ means the opposite: once written, even you cannot change the trust. Both types of trusts have their place.
Flexibility is the obvious benefit to the revocable trust.
