As we have happily mentioned, the merger under the Schwab umbrella has gone nearly seamless, and only confusing in a few points.
One of those points are items to update, and some items that we should not touch!
An item to check and update – Cell phone contact!
For those of you logging into the new Schwab website feel free to follow the instructions to adjust your contact information and one of the most important items to confirm your cell phone contact. This is important as frequently if locked out two factor authentication will be the key to get back in.
Please do NOT touch the Beneficiary designations!
If you’re reading this, and you’re a client, you have a beneficiary designation on file. In many cases, a very sophisticated and specific beneficiary designation.
As the merger has occurred, not all of that information has been filled in on the log in website, and therefore not viewable. Those of us with specific complicated beneficiary information will likely never be filled in. This is fine. We have copies of statements, and Schwab has a copy of the Beneficiary information with complete beneficiary designations, no matter if it’s showing electronically or not.
We know you guys are all overachievers, so don’t touch that dial on the beneficiary, no matter what it may or may not say electronically, and just reach out to us to confirm if you have ANY confusion.
Have a Great Day and thanks for being Overachievers!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
And here is Pro Rata
It will be interesting to see just how many times we view this in the future for a refresher!
Q 2 2019 Newsletter Video Audio Podcast Review By John Kvale
Welcome to our Video and Audio Podcast Review of our Q 2 2019 Newsletter. For those on the road or just unable to grab the time to read, our podcast type review gives you the behind the scenes insight to our thoughts, observations and deep views of the entire Newsletter.
Click Here for direct link to an electronic version (an early peek-good ole fashion paper versions are on their way to you shortly) and here for our Newsletter page
Let’s get going!
Q 2 2019 Newsletter
And here is your review!
Capital Market Talk
Recession and the Inverted Yield Curve
Ask any long distant runner what happens when they start out too fast and they will tell you it is not good new – The saying goes for every minute you go out too fast, you come back two minutes slower than normal…
In our main capital market article we discuss the reasons why we may have a recession by definition, but why it may not be a big deal (hopefully).
The Inverted Yield Curve (Short term interest rates higher than long term rates) and infrequent event, did occur for five days – so far – just after our Newsletter went to the publisher. The Inversion has been a good signal of recession, EVENTUALLY – some times as long as two years in advance.
They Don’t Want Your old 401k
A recent Cerulli study finds that once you leave the company, most really do not want your funds anymore. We have long suspected this.
Are a few items we have run into over the years!
Iron Clad Trustee
General order of Trustee or other important people to execute your wishes when you are incapacitated or deceased, generally go like this:
As we can all imagine, this list can easily be very short and insufficient.
In our deep dive of the Institutional Trustee Services, we discuss the handiness of having such a great service as well as the ability to offer these services ourselves.
Choose Your Beneficiaries Carefully
In this article that fit nicely with our Trustee article we mention different types of Beneficiaries and most importantly. Make sure you confirm that your beneficiaries are correct as this will over ride you other documents, including a Will or Trust.
We hope you enjoy … talk to you in the Summer!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com
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Posted in Audio, FOMC, General Financial Planning, Interest Rates, Investing/Financial Planning, Market Comments, Newsletters, Vault, Video
Tagged 401k, Beneficiary, Cerulli, Inverted Yield Curve