Apprise Wealth Management's Selected Readings for the Week of June 2, 2019

Personal Finance

June 3, 2019
Personal Finance

At Apprise Wealth Management, we want to help people make better decisions about money. We also read constantly and like sharing some of our favorite commentaries each week.

We hope you will share our blog with your friends. If you are not a current subscriber,please sign up for our mailing list at the bottom of our blog page, or use our Contact Us page. If you would like to discuss one of these articles further, please email philweiss@apprisewealth.com.

On May 8th, I gave a webinar: 5 Shifts: Will You Retire With Confidence? Please click here if you would like to listen to the replay.

Here are this week’s articles as well as a brief description of each:

1.   What Happens When Your Child Turns 18? When your child turns 18, he or she is legally considered an adult for many purposes. Here is a list of 50 things a child can do after turning 18. As parents, we must recognize that some of these changes are important, and we can take some proactive steps to best handle these changes. Some of the most important changes relate to healthcare. When your child turns 18, you can no longer talk to a health practitioner or insurance company about your child. If your child is injured while out of town, this can be particularly problematic. One thing to consider is a Health Care Power of Attorney or healthcare proxy. This will allow you to make medical decisions if your child is unable to make them on his or her own.

2.   Attention, Students: Put Your Laptop Away. While the title of this article makes it sound like it’s only directed towards students, it applies to anyone who takes notes when attending meetings. With the proliferation of electronic devices in today’s world, the idea of taking notes by hand seems a bit old fashioned. According to this article, taking notes by hand involves a higher level of information processing. When we type notes, we often try to take them verbatim and write down as much as we can. The processing that occurs while you take notes can improve both learning and retention.

3.  4 Estate Planning Myths That Refuse to Die. Estate planning can play an important role in the financial planning process. An estate plan can help you protect those who depend on you and your income during their lifetime. It can also be used to name guardians for minor children. Here are the four myths discussed in more detail in the article:

·        Myth #1: Estate planning is only for the high net worth

·        Myth #2: Estate planning is only about distributing assets after I’m gone

·        Myth #3: A will can oversee the distribution of all my assets

·        Myth #4: Once I put a plan in place, I don’t need to revisit it later

4.  8 Daily Rituals That Keep You Laser Focused. All of us have work habits that help increase our productivity. Saving more time and effort can benefit our productivity. This article shares eight workday rituals that can help you stay hyper-focused and productive throughout the day. They start with determining your optimal wake-up time and bedtime. They end with preparing for tomorrow.

5.   Good Information on Social Security Can Be Hard to Find – Here Are Some Reliable Sources. Social Security can play a very important part in the financial future of many older people. However, it can be hard to find good information. There are many data sources that are either incorrect or provide contradictory advice. If you’re wondering where to look for guidance, please click the link for some suggestions.

We hope you find the above posts valuable. If you would like to talk to us about financial topics including your investments, creating a financial plan, saving for college, or saving for your retirement please complete our contact form, and we will be in touch. We can schedule a call, a virtual meeting via Zoom, or a meeting at Apprise Wealth Management's office in Northern Baltimore County.

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