Q: Why do I need a will? A: A will is a formal legal document directing the settlement of your estate. It provides for the distribution of your assets according to your wishes. Without a will, the laws of your state will determine estate distribution. You should always seek qualified legal assistance and proper witnessing. Only through a will can you designate your own executor, guardians for minor children, and other fiduciaries. Q: What is the first step my spouse and
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Stocks Turn in Best Quarter in 10 Years Global markets ended the first quarter of 2019 with very positive returns and domestically, the DJIA, S&P 500, Russell 2000, and NASDAQ all rewarded investors with double digit gains. The S&P 500 recorded its strongest quarterly performance in a decade, rising over 13% and leaving the index 3% off its all-time high. NASDAQ did not perform as well as the DJIA or S&P 500 on the final week of the quarter, but
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The turmoil witnessed by investors in Boeing in mid-March 2019 sadly demonstrated the benefits of diversification. Boeing’s stock price dropped over 10% in two days and then sharply again after President Trump ordered the grounding of all 737 Max planes in the U.S. On the Friday before a Boeing 737 Max 8 passenger jet destined for Nairobi crashed and killed all 157 people on board, Boeing’s stock traded at $422. Three days later, it traded around $366. So, how do
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Older generations are always quick to suggest that younger generations are lazier. They are more spoiled and have an easier time at just about everything. Some Baby Boomers proclaim that Generation X, or Millennials (Gen Y) or Generation Z have an easier time getting a job, saving for retirement, buying a house, and are surrounded by luxuries unthinkable “back in the day.” But there does seem to be more cynicism aimed at Millennials. Let’s explore. Gen Y Gets a Bad
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For many of us, debt is a huge part of our lives. In fact, the table below shows typical debt balances, as well as total debt balances owed by consumers, according to NerdWallet’s 2017 American Household Credit Card Debt Study. Type Of Debt Average Household Total U.S. Consumers Credit Cards $15,654 $905 Billion Mortgages $173,995 $8.74 Trillion Auto Loans $27,669 $1.21 Trillion Student Loans $46,597 $1.36 Trillion Any Type Of Debt $131,431 $12.96 Trillion As you can see, our lives are
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Life insurance is one of the most oversold and exaggerated pieces of your financial life. It is important to know when you actually need it, how much you need, and what type to use. Otherwise, you could end up like many, over-insured and spending more in premiums. What is the purpose of life insurance? The primary purpose is to provide financial assistance to someone else in the event you pass away. Ultimately, you only NEED it when you have people
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It doesn’t seem possible that so many years have passed since we started Patriot Investment Management! It has truly been a wonderful journey. When we began, our guiding philosophy was to always do the right thing for our clients. That principle has served us well and we now manage client assets totaling over $937 million. First, I want to thank each and every one of our clients. You have entrusted your hard-earned assets to us, and we take the job
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As financial advisors, we try to educate clients to help them on their path to financial independence and financial fitness. However, one of our largest downfalls is our need to over-complicate things to show our intelligence. We use industry jargon and speak about things that are foreign to most. As a result, our goal of educating meets very little progress. This is especially true when it comes to the stock market and bond market. At Patriot, we are fee-only fiduciaries
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