The conflict between the United States and Iran continues to evolve, with markets reacting to each new set of headlines. The ceasefire announcement initially eased tensions and pushed oil prices lower, with Brent crude falling into the $90 range. However, the subsequent breakdown of peace talks sent prices back above $100 per barrel, reminding investors that the geopolitical situation can change quickly. While the situation remains unstable, the critical question for long-term investors is how the broader economy, businesses, and consumers are impacted.

Geopolitical conflicts tend to affect financial markets through energy prices, which directly impact fuel costs and can then ripple through the economy. How much this affects prices largely depends on how long energy costs stay high. In particular, inflation, the job market, and corporate earnings all can provide useful insights in today’s market environment. In times of uncertainty such as this, we know that at least understanding the driving economic factors can help us keep things in perspective.

A Simple Oversight with Lasting Impact:

Why Beneficiary Updates Matter

Losing two neighbors this past month was a sobering reminder of how important the small details can be. One widow shared that her husband had an old IRA that had never been updated with a current beneficiary- creating unnecessary confusion, costs, and delays during an already difficult time.

Beneficiary designations override your will, and outdated or missing information can lead to unintended outcomes. While we keep this updated for the accounts we manage, employer plans and old retirement accounts are often the ones that slip through the cracks. It’s worth taking a few minutes to review your beneficiary designations. If you’re not sure where to start, we’re always happy to help guide you through it.

Remember: 

• Beneficiaries can override your estate plan

Even a perfectly written will won’t control accounts with outdated beneficiary designations.

• Old accounts are the biggest risk

Former employer plans and legacy IRAs are easy to forget—and often the most likely to be incorrect.

• Consolidation can help simplify things

Bringing accounts together can make it easier to keep everything aligned and up to date.

• Professionals can help 

For situations that go beyond simple beneficiary designations, working with a qualified estate planning attorney can help ensure your wishes are clearly carried out. 

Greg Dillard, CFP®

In March, we were honored to be a sponsor of the annual Freedom Hoops 3v3 Tournament! This event raised over $115,000 to support faith-based mentoring for at-risk young men in the Kansas City urban core. We’re excited to see the continued impact of this amazing program!

Also, a huge thank you to everyone who stopped by our Chick-fil-A breakfast event! We always love the opportunity to connect and spend time with our amazing clients and their friends.

As always, please do not hesitate to reach out if you have any questions.

Sincerely,

Matt Gazaway, CFP®  |   Greg Dillard, CFP®

(913) 276-7110

matt@bridgequest.com | greg@bridgequest.com

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