#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

When an ira account owner dies it gets distributed to the beneficiaries, if none are listed it goes through probate. We don't want that to happen, so make sure you list beneficiaries and keep them updated. Listen to financial planner Dan Joss go more into detail in this episode of Money Talks.

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

The dollar isn't the bottom line anymore. Companies are trying to be more charitable and environmentally and community friendly. So when investing, be sure to look at the impact of the company on the community and the world.

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

Financial planner Dan Joss says that the Bible holds a lot of monetary wisdom regardless of how you view the Bible. There is also a huge correlation between Biblical financial wisdom and nations that are wealthy. Some of these simple principles are, flee debt, live generously, don't be greedy, and be content with what you have.

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Money makes the world go round. Most describe it as a necessity and a tool which is true. It's simply a medium of exchange that takes place of a barter system. Money is only as good as the perceived value of it.

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

Covid 19 has hit communities hard. A great number of people have lost their jobs. Dan Joss advises that if you have free time, you should help your community by volunteering your talents. For those that didn't lose their jobs or take a pay-cut, Dan advises that they help the community by donating to charity. We can get through this together if we give our time, talents, and treasure.

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

Bequests are specific requests as to how your estate will be divide among your family members when you die. Dan Joss advises that you make these as specific as possible as to avoid confusion for you family. These can simply be written in a letter that you update as often as you want before you pass away.

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

Inheritance doesn't necessarily have to be given after you die. Financial planner Dan Joss explains that you should use your best judgement with the inheritance money. You can use that money to help your child while you are still alive as it doesn't necessarily have to be given after your death. Dan advises that you think critically about the money that will be given to your children, as if you don't have a plan for it, after you die it will go away.

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

"Under per capita, the share of any beneficiary that precedes you in death is shared equally among the remaining beneficiaries. ... With per stirpes, if one child were to precede you in death, the other child would receive half, and the children of the deceased child would get the other half." Make sure you write a will that divides your estate the way you want to, because if not it will be divided based on how the local government authorizes it to be divided.

There are many things you can do after the markets drop by 40%. Don’t act from fear. Greg and Dan talk through three likely responses most investors have. Two of them are worth considering seriously.