Apple shares helped push major Wall Street indices up Friday while investors also assessed a mixed U.S. labor market report. For the week, the Dow rose 0.45 percent to close at 23,539.19. The S&P gained 0.29 percent to finish at 2,587.84, and the NASDAQ climbed 0.94 percent to end the week at 6,764.44.
Search for Yield – Today, less than 5% of investment-grade global fixed-income securities have a current yield greater than 4%. Before the 2008 global real estate crisis began, 80% of investment-grade fixed-income securities worldwide had a current yield greater than 4% (source: International Monetary Fund, BTN Research).
Little Experience – Just three members of Congress, i.e., 3 out of 535 House and Senate members, had securities licenses (selling stock and bonds) before their election to Congress (source: CRS, BTN Research).
In life, rock ‘n’ roll icon Tom Petty reached countless fans with a musical career that spanned four decades. But in many ways, he sent an even more powerful message with his death on Oct. 2.
After the 66-year-old was rushed to a hospital in cardiac arrest, his family had him removed from life support, a request Petty had made in a do-not-resuscitate (DNR) order he had shared with his loved ones.
Because Petty had made his wishes known ahead of time, his family was spared from making an agonizing decision. While it may be difficult to face your own mortality, making arrangements for your care in an emergency where you are unable to speak for yourself is critical to your estate planning. If you’re an adult child, you may also need to speak with your parents about their desires should something tragic happen to them.
Because spending in the last year of life averages about $18,000, having a plan in place ahead of time can save your family from having to cover costly medical bills.
Some items you should prepare while you’re still healthy include:
- A DNR or a do-not-intubate (DNI) order. Both a DNR and a DNI need to be signed by a doctor. A DNR instructs health-care professionals not to perform CPR. A DNI tells them you do not wish to have any tubes inserted into your body.
- A health-care proxy. Also known as a power of attorney, this legal document allows a family member or friend to make health-care decisions for you if you are unable to make them yourself.
- A living will or advance care directive. This document gives clear and specific instructions to your health care proxy and physicians regarding the use of life support, a feeding tube or intravenous fluids.
- Funeral plans. By preplanning all the details of your funeral, you can spare your loved ones from having to take care of arrangements during what is sure to be a difficult time for them.
Once you have all your planning documents complete, store them in a safe place where your health-care proxy and family members can easily retrieve them.
While it may seem uncomfortable to make plans regarding the end of your life, by getting your plans down in writing, you can be comforted knowing your loved ones will not be burdened with difficult decisions.
It can be difficult to know where to start building a plan for an unexpected medical emergency. Call us today to discuss how we can help
The Dorion-Gray Team
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Diversification seeks to reduce the volatility of a portfolio by investing in a variety of asset classes. Neither asset allocation nor diversification guarantee against market loss or greater or more consistent returns© 2017.
Dorion-Gray Financial Services, Inc.