How Does Your State of the Union Look?

The US State of the Union address is a tradition that comes from a section written in the US Constitution for the President to update Congress on the nation’s condition and recommend any initiatives that he deems valuable and essential. We recently heard about how the government and the economy have been performing and some ideas on how to handle the challenges going forward.

Have you taken the time with your spouse, children, loved ones, business partners, or advisors to go over your plans and how you will handle the uncertainties that tomorrow brings? Here are four questions to ask:

1) Are we prepared for the challenges ahead? Many people were hesitant to get involved in the markets due to haunting memories of the past. There are also no guarantees that trends today will continue, as we have seen with the recent market selloff. At Arlington Capital Management, we have invested significantly in research and resources and added to our proactive investment framework. How are you set up for all the tomorrows to come?

2) Is there something of which we have too much/too little?  All of us want to take shelter when there are bad conditions and take advantage of opportunities when the time is right. There can often be too much coverage in certain areas, which could leave a blind spot over others. With information overload, you may be receiving conflicting counsel. Perhaps you have too many people doing the same thing for you or not enough service to cover all your complex needs. How do all the separate pieces of the puzzle fit together?

3) Do all of the parties involved know their responsibilities? Assuming that everyone knows what to do is not as safe as creating a concrete plan of action with contingencies defined clearly. When it comes time for a family or business annual review, are all the people that will be affected present? Do they clearly understand their roles? 1

4) What if the unexpected happens? The most improbable scenarios have become more commonplace in an ever-changing world. No matter what plan is in place, the primary needs will change with death, emergency, job loss, or sickness. Are you insured and your loved ones covered should the worst happen? 2

Did you know?  There are often different names for the same concept. If you feel overwhelmed by technical jargon or information overload, especially if and when it is used to confuse or distract you from what is really important, then please feel free to reach out to find some clarity.

1 Arlington Capital Management is not a tax or legal advisor. However, we will be glad to work with you, your accountant, tax advisor, agent, broker, and/or attorney to help you meet your financial goals.

2 Insurance products are offered through unassociated insurance agencies and unaffiliated insurance companies external to Arlington Capital Management.

2018-03-05T16:12:06+00:00 February 6th, 2018|Financial Advice|