A beneficiary review should be on your yearly financial to-do list. When you get life insurance or start a new retirement account, filling out the beneficiary designation is part of the process. It lets the company know where that money goes when you’re gone. But is that name you wrote down years ago still the person you want as a beneficiary? If not, the wrong person will get your money.
I recently got my monthly IRA statement from TD Ameritrade. Part of the email was a simple question that asked “Is your IRA beneficiary up-to-date?”.
Good question.
I wasn’t slacking on keeping it updated, since I haven’t had a reason to change it. But keeping track of it certainly wasn’t a priority either. Continue Reading…
Bonds are not the easiest investments to figure out. A bond fund, apart from its description, doesn’t tell you much about all the risks involved either. In an environment where investors chase higher yields, the greater risk of loss can be quickly ignored. Bond ratings make it easy for you to understand the