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Creating Your Legacy

March 28, 2019 - Retirement Planning & Investments

Information from UMassFive Financial & Investment Services & CFS* to help keep your financial life in balance.

Creating a will is a difficult subject to address head-on but is necessary to ensure that your wishes are communicated to your loved ones when you’re not able to do so. A will serves many functions. Most importantly, a well-structured will helps to outline how your assets are to be distributed, who will care for any dependents and your wishes regarding medical treatment should you become unable to make those decisions in case of emergency or incapacitation. Regardless of the amount of assets you have accumulated, a will ensures that personal belongings and assets will go to the family or beneficiaries you designate. Without a will, the court makes these decisions for you. If you have minor children or adult dependents, a will is a must to ensure your wishes regarding their guardianship are communicated. A living will clearly outlines the medical treatments you do and do not want if you become physically or mentally incapacitated.


Once you've reviewed your will, take a look at your financial goals and priorities. Look into whether your portfolio's returns are keeping you on track to meet those goals.


Changes to your investing strategy will depend on your priorities and goals. But even if your priorities haven't changed and you're making good progress toward your goals, it's still important to review your asset allocation and investment strategy. For example, if you're now one year closer to retirement, depending on your age, it could be time to change to a more conservative allocation. Also market gains or losses may have caused big swings in the value of your holdings, causing your portfolio to fall out of line with your advised allocation. In this situation, you may need to re-balance your portfolio to bring your stocks, bonds, and cash holdings back in line with their target allocations.


Speak to an experienced CFS* Financial Advisor here at UMassFive  and get your investments ready!


*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. UMassFive College Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. CFS does not provide tax or legal advice. For such guidance, please consult your tax or legal professional.