Technology Stocks Lead Market Financial Stress Index Considerations When Choosing a Trustee

In this episode of the Planned Solutions Incorporated Podcast, Technology stocks have outperformed other sectors by a wide margin so far in 2023, helping to offset the large losses in Technology stocks in 2022. This has caused some investors to allocate a large percentage of their stock portfolios into this single sect or which may result in higher risks than they realize. Instead, investors may be better served by being patient and allowing time for the market breadth (number of shares increasing in value)to improve. Also, Banking turmoil in the US which began in March has continued to negatively impact the US financial system. However, the issues have been fairly contained within the sphere of smaller regional banks. Meanwhile, the Financial Stress Index reported by the Federal Reserve shows that financial stress spiked in March but has since improved sharply. And, One of the key decisions when creating a trust is who should be named as the successor trustee. Often those who set up a trust will appoint a friend or family member to be their successor trustee, but this can create unwanted stress and legal liability for the appointed trustees. Another option is to appoint a professional trustee or a corporate trust office as the trustee. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-Everyone at Planned Solutions recently completed training on how to spot and avoid the financial exploitation of senior clients. Unfortunately, financial crimes against those aged 65 or older have been increasing in the US as criminals find more and more creative ways to try to access the funds of retirees. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected] The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.