At Sommers Financial Management, we are asked two questions. First, should I have a higher allocation of my investments in AI related stocks? Second, does Sommers Financial Management use or intend to use AI to manage my accounts?
When someone dies without a trust, most likely their estate will go through probate. Probate is a time-consuming, government-involving, expensive process.
There are three categories of things we discuss when reviewing your financial plan: 1. Things you can control 2. Scenarios that may affect your financial outcome, but that we have no control over 3. Strategies that we can assist with to improve your financial outcomes
“Right now, US Treasury Notes are paying up to 4.5% and FDIC-insured CDs are paying above 5%,” said the financial planner. “Yes, but what about the risk?” questioned Mary. “US Treasury Notes are backed by the full faith and credit of the U.S. government; they are considered the safest investment in the world. CDs that are FDIC-insured are similarly backed by the U.S. government.
In our financial planning software, “success” is determined by still having at least $1 in your investment accounts at death. Naturally, most clients want 100% probability of success. We review very few plans with 100% confidence—there are far too many future variables.
If you’ve seen your monthly investment statement lately, you’ve likely been disappointed. It’s hard to stomach the drops this year in both the stock and bond markets.