Welcome to our monthly Economic, Capital Market, and Financial Planning tip of the month.
This months Financial Planning Tip of the month is a reminder of an important Estate Planning Document
Once again a special thanks to all of YOU … the best clients and friends as your experiences have again given us the subject matter for our Financial Planning Tip of the Month.
For those new to our writings, we touch on the most pertinent Financial “stuff” along with a video of my mug that has even more specialized details of the latest month as well as this post.
The Power of Attorney – Another great Financial Planning Tip:
With the vacation season coming, dust off that Power of Attorney document and take a look!
- Financial Power of Attorney
- Health care Power of Attorney
These documents can be an invaluable part of your Estate plan. Be sure we have a copy too, for easy access. These powerful documents are relatively simple, and usually only a couple of pages in length.
Just how tough this last recession was
This neat adjustable graph comes from the Minneapolis Federal Reserve Bank research. What stands out is just how deep the recession was. Because it was so deep, it is not surprising that the recovery is taking so long. The sicker we are the longer it takes to get well.
This is one of the longest recoveries on record, in part due to the severity, while not predicting another recession … the longer we go in this business cycle the faster we approach our next slowdown … our radars are up!
John A. Kvale CFA, CFP