IN THE KNOW
Monthly Newsletter
February 2019
At ML&R Wealth Management , we want to ensure our clients are In The Know. In this month's newsletter we have timely articles on organizing and reviewing your life insurance and looking at different investment fads that have come and gone. We are a firm that understands that managing your assets is about more than money. It is about empowering your future. At ML&R Wealth Management, we focus on you.
Vanessa McElwrath , Wealth Management Partner

Tidying up is so in right now, thanks to organizational guru Marie Kondo. Unless you have been hiding under a rock for the past few months, you too have probably heard of her new Netflix show which features people whose lives are transformed after learning her techniques or “KonMari” method for organization and declutter. And while I’ll leave the whole-house cleaning advice to her- if you peaked in my closets you would see why- I’d like to offer some suggestions for “Marie Kondo-ing” your financial picture starting with your life insurance policies. 

I will be the first to admit that the thought of life insurance doesn’t necessarily “spark joy” for many of us, but there is an element of Marie Kondo’s approach to organizing that is relevant. After all, organizing has become so attractive and popular because it offers the possibility of control. So one way to take control of your life and the hereafter is to organize your life insurance and legacy plan. 

Here’s how to “Marie Kondo” your life insurance needs:

1.        Organize your policy information and documents .
To start, it’s a good idea to keep original policies on hand but this isn’t super helpful if no one else knows where to find these documents. You want to make sure you actually communicate the relevant details of your policies and where to find them to the appropriate people, such as your spouse or your personal representative in your will. Make sure your wealth advisor also has a copy on file. 

And just because you bought a policy at one point in time doesn’t necessarily mean that it is still active. Even by just accidentally missing a payment, you could have inadvertently surrendered your policy. Check to see that your premium payments are being paid on-time and from the right account.

Dimensional Perspectives Blog

Investment fads come and go. Letting short-term trends influence your approach may be counterproductive to pursuing your financial goals.

Investment fads are nothing new. When selecting strategies for their portfolios, investors are often tempted to seek out the latest and greatest investment opportunities. Over the years, these approaches have sought to capitalize on developments such as the perceived relative strength of particular geographic regions, technological changes in the economy, or the popularity of different natural resources. But long-term investors should be aware that letting short-term trends influence their investment approach may be counterproductive. As Nobel laureate Eugene Fama said, “There’s one robust new idea in finance that has investment implications maybe every 10 or 15 years, but there’s a marketing idea every week.”

Financial Wellness Q&A
In this section we will address common personal finance questions. Email socialwm@mlrpc.com if you have a question you would like answered.

Question: How are life insurance proceeds taxed?


Answer: Generally, life insurance proceeds you receive as a beneficiary due to the death of the insured person are not includable in gross income and you do not have to report them. 
ML&R Wealth Management News

Just a friendly reminder to our clients - please be sure to get your tax documents in sooner rather than later in light of the tax law changes!
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About ML&R Wealth Management:
At ML&R Wealth Management, we take investing personally. Your ML&R Wealth Management advisor will work to develop a lasting relationship with you, keeping in touch to understand your changing goals and to provide an asset management strategy to help achieve them. Whenever you need sound financial advice, you have a direct line to a trusted advisor.

For over 20 years, we have served individuals, families, businesses, and nonprofits with wealth management services, custom retirement and 401(k) plans, and portfolio management.

We believe in accountability and transparency and operate as a fee-o nly advisor with fees calculated solely on assets under management.
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