We hear a ton about “intergenerational wealth” lately, and a cornerstone of building a dynasty of Benjamin-stackers is knowing how to pass on your assets. But even if you don’t have any assets yet, not having a good plan can still wreck your plans. On today’s show we’ll dive into Estate Planning 101 with author Amy Blacklock, and begin with the bajillion dollar question, “Why do I need an estate plan if I have nothing?” You’ll be surprised. We’ll also answer basic questions, like, “Who would you want to handle your estate and who do you want to give your sweet super soaker collection to?” We’ll tackle wills, trusts, estate planning for young people, and more.
During our headline, we take a look at asset allocation and rebalancing. Rebalancing is important at any stage of your investing life, but why does it matter more during retirement? We’ll find out and offer our thoughts on how and when to rebalance. We’ll also throw out the Haven Life line to Joanne who asked a question in our Facebook group about an annuity she was pitched. We have (sometimes strong) opinions on annuities but we break this down and explain the red flags we see. Don’t worry, we won’t forget about Doug’s trivia!
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- Portfolio Rebalancing Is a Good Retirement Habit (The Wall Street Journal)
- Finding The Optimal Rebalancing Frequency – Time Horizons Vs Tolerance Bands (Michael Kitces)
- Getting Back on Track: A Guide to Smart Rebalancing (Vanguard)
Our TikTok Minute
- On this date in history, the first hashtag was used. What year was it first used?
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- Write Haven Life Line question here
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Want to listen to more related interviews? Check these out.
- Jon and Terrie Hull joined us to tell their estate planning horror story and how you can avoid the same mistakes: Estate Planning Horror Story – with Terrie & Jon Hull
- Brent Henningson joined us to talk about annuities in a fun way…lottery winnings! Annuities, Lotteries, and More (with Brent Henningson)
- Matt Hall joined us to talk about asset allocation and the small adjustments you can make that could have big results: Tweaking Your Portfolio For Better Returns (with Matt Hall)
Written by: Brooke Miller
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