Critical Questions for Baby Boomers

January 8, 2014  | By Kevin Smith

If you have not addressed all of the following topics, please understand that many people have not. We hear far too many regrettable stories that could have been prevented with some basic planning. The purpose of this post is to encourage conversations with your family about these issues, which is the first step to peace of mind.

– If you handle your family’s investments now, what continuation plan(s) are in place should you become disabled or die?

  • Who will make decisions about your family’s investments when you are unable to?
  • Does a family member or financial professional have an inventory and documentation of your assets?

– Have you done the most important, basic estate planning that everyone should do?

  • Do you have a will? Is it up-to-date? Do you have the supporting health care related documents?
  • Are the beneficiaries on your retirement accounts listed as you want them?

– Have you planned for how your family would handle a long term care event?

  • Who is going to take care of you when you can’t?
  • Where do you want to receive care? At home? An assisted living facility?
  • How would you pay for it? How much would it cost?

– Are you educated on the topic of retirement income planning?

  • Supplementing Social Security and pensions with a tax-efficient strategy to draw from your investments.
  • An investment plan that provides a low risk income stream and the ability to keep up with long term inflation.

We meet with many people of the baby boomer generation each year, and these are some of the most important and often overlooked financial topics affecting the financial futures of their families. We will address these topics throughout the year with educational seminars, relevant articles, and one-on-one counseling.

Kevin X. Smith, CFA
512.467.2003   |  [email protected]

Kevin is responsible for advising clients for whom he is the lead financial advisor. He also manages the operations and development of the firm, and oversees all of the investments of Austin Wealth Management clients. Kevin is on a mission…Read More




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