Investment Advice

From Carter Capital Management

I have been in the financial investment industry for 28 years. I’ve witnessed the October 1987 Black Monday stock market crash. I have seen the market boom of the 90’s and then the Dot-Com bust that fol­lowed. The past few years have been filled with news of a struggling economy, politi­cal unrest, and volatile markets. I men­tion these historical times because of the extreme impact they had on investors. We as individuals may not be able to control the economy and the investment markets, but we can control how our savings and our investments are positioned and make sure we have our estate plan in order. Any time of year is a
good time to gain a complete picture of  your financial standing, retirement picture and estate plan.

Consider involving a trusted individual or family member who can be your advocate in financial and legal matters if needed. Designating a health care proxy, creating a living will, and assigning power of attorney will allow a trusted person to act on your behalf and make decisions about your health care should you become unable to act on your own behalf. Let your financial advisor know who to con­tact and what level of financial detail you are comfortable sharing.

Estate and contingency planning can be crucial if you have a spouse or dependent family member. If you already have some of these plans in place, you will want to review existing estate and trust documents and make revisions if necessary.

Collect and keep copies in an easy-to-find place like a home safe or locked desk drawer. You may also consider keeping a copy in a safe deposit box in case of a home disaster. A list of documents would include:

• A list of one-time and recurring bills
• brokerage account statements (preferably most recent year­end statement)
• Insurance policies -Health, Auto, Home and Life with benefi­ciary information
• pension and retirement benefits
• location of safety deposit box
• deeds and mortgage
• rental income information
• copy of paycheck
• social security statement
• birth certificates
• marriage certificate
• divorce decree
• wills, trusts and power of attorney
• most recent tax return
• name of doctors, attorney, financial advisor and tax advisor
• name, address and date of birth of all beneficiaries
• funeral and burial arrangements

The best way to protect your financial future is to share this infor­mation, once gathered, with your financial advisor. This informa­tion can help your financial advisor see what plans you may need to put in place today to protect and achieve your financial goals. This will be accomplished by the correct investment allocation for you and proper diversification. Knowledge is Power and the more knowledge you and your financial advisor have about you the
more power you will have to control your financial future.