Saturday, December 5, 2015

Dad just died, mom needs help.

Hanson McClain's Money Matters Weekend Update
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EMAIL NEWSLETTER | December 5, 2015
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Dad just died, mom needs help.

Your age is just one factor in determining the right mix of investments.

Q: My father recently passed away, and I've been helping my mom figure out her finances. Mom paid all of the bills over the years, but Dad took care of the investments with the help of a long-time stockbroker. Her home is paid for, and she has about $60,000 in income from pensions and Social Security, so she's fine financially, but I'm a little concerned about her investments. She has about $500,000 in her IRA and brokerage account, but she is allocated almost 70% in stocks. Is that too much in stocks for someone in her 80s?

SCOTT'S ANSWER

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img-wu-crystal-ball.jpgTiming the Market

Always Remember That Markets Go Through Cycles

It's a fact of both history and economics that markets go through cycles. The real estate market goes through cycles. The stock market goes through cycles. Gold goes through them. Even the price of oil goes through cycles. 

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Does an annuity make sense for an elderly parent?
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*Scott Hanson (2011, 2012, 2013, 2014 & 2015) and Pat McClain (2012, 2013, 2014 & 2015). Barron's© magazine is a trademark of Dow Jones L.P. The ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms and the quality of the advisors' practices.

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