IN THE KNOW
Monthly Newsletter
November 2022
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This month's newsletter discusses the intricacies and importance of premarital planning for a financially healthy marriage, and some tips on what to do if you are lucky enough to win the Texas lottery. We also share updates from Dimensional Insights on leaving your portfolio alone, and fixed income for investors from high yields. And as always, we have a list of events and family-friendly activities to do this holiday season!
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.
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If you read this title and immediately started singing the opening song from the amazing sitcom running during the 80’s and 90’s, Married with Children, you’re welcome! Hopefully it doesn’t get stuck in your head for too long. All kidding aside, this classic American sitcom is one of those shows that you either loved or hated. For me personally, I vividly remember watching, more like cracking up, with my family each week as the “misogynistic” miserable Al Bundy, his “lazy” just as miserable wife Peggy, and their “dysfunctional-slacker” children constantly verbally sparred with one another over their lack of money and success. It is the quintessential comedic spin on the exact opposite of achieving the American Dream. What does a show like this have to do with premarital Financial Planning? A whole heck of a lot if you want to learn “what not to do” as a couple.
Getting married is a huge part of achieving the American Dream. It is an exciting time in life that is filled with lots of love, joy, and planning. As it relates to your finances, setting yourself up for long-term success is a key factor in the overall planning and is an aspect of your life that should be paid close attention to as you enter this next chapter. The planning may be different depending on your age and whether this is your first marriage or not. Below are a few premarital financial planning tips to help you and yours avoid a life of despair and anguish, like Al and Peggy Bundy.
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What to Do if You Win the Lottery in Texas
Congratulations to the largest jackpot winner in history, $2.04 billion and beating the odds of 1 in 292.2 million! It is truly astonishing. Sudden large windfalls can also come from an inheritance, settlement, sale of a business or lawsuit proceeds. The steps one should take once the initial shock has worn off will be the same. Here are our recommendations on how you should proceed in making crucial early decisions to protect yourself and your family.
Stay Anonymous
Once people find out you have a sudden windfall you may be overwhelmed with everyone wanting a piece of the pie. Debt collectors, long lost relatives, even strangers will be asking or suing you for money. Additionally, there have been instances over the years where winners have been robbed and even murdered in their homes from theft gone wrong. Don’t gamble with your wellbeing, keep your winnings private. Currently, seven states (including Texas) allow you to claim your prize anonymously. For the rest of the states, check to see if you can claim under a trust or LLC to hide your identity. If you find yourself in a state that requires disclosure, take necessary steps to get a new phone number, email address, even change your address if you can. Keep in mind that there is a time limit to claim your prize, so after a bit of celebrating, it will be time to get to work.
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Employee Spotlight ~ Let's Talk to the Team |
In this year's Employee Spotlight we will be asking fun questions to the entire team and sharing their answers in this section! |
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By Weston Wellington, Vice President
On November 8, US voters will cast their ballots for all 435 seats in the House of Representatives and 35 seats in the Senate. Many investors are concerned with the effect of election results. Do past results suggest a useful strategy to deal with election-year uncertainty?
By Thomas Meinke, Investment Strategist | Wes Crill, PhD, Head of Investment Strategists and Vice President
Investors have likely noticed the improved opportunity set in fixed income due to higher yields. And yet some investors may be hesitant to take advantage of higher yields because of concerns about future increases in yields. Some may even be considering reducing their bond exposure after this year’s negative returns for fixed income.1 The good news? If yields do keep rising, investors seeking higher expected returns may still be better off maintaining the duration of their fixed income allocation.
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ML&R Wealth Management is Celebrating 25 Years!
1997 ~ 2022
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Subscribe to our 401(k) Plan Services Quarterly Newsletter |
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Are you responsible for administering your company's 401(k) plan?
Would you like more insight and resources regarding the retirement plan services industry?
If so, please subscribe to our 401(k) Plan Services Quarterly Newsletter. You can check out the last few issues below.
See our latest Retirement Plan Services articles:
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What's Happening in Austin Next Month |
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About ML&R Wealth Management: |
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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 25 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-only advisor with fees calculated solely on assets under management.
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