Does the old stock market adage of “sell in May and go away” make sense? We’ve actually written about this one spring about nine years ago where we actually advocated taking some chips off the table, however it had less to do with a cute stock market rhyme and more due to profit taking. Where are we at now going into May and is this allegedly poor seasonal time of year appropriate to sell or perhaps not?
This entire personal finance blog is about “letters” being written to you (Mr. Market), the fictitious character that exhibits all sorts of emotions due to the gyrations of the stock market. What letter, however, is the most important one YOU could ever write?
It’s called a “Letter of Final Wishes” (LFW), or as we’ve described it to our clients at My Portfolio Guide, LLC, a “Letter to My Family: Things you should know“. On page 6 of the Spring edition newsletter of “the Guide” (click here if you have not seen it yet), we touch on this very important gesture that you can do for your family. Aside from the legalities of estate planning, this exercise is perhaps the single most loving and considerate document you can create for your family that they will forever be grateful for.
Our template (which we share below) is not a legal document and should never replace your will or living trust along with all the other ancillary documents such as a health care proxy or power of attorney.