Gilbert Wealth Articles

What to Include in Your Will: Understanding Key and Supplementary Provisions

The drafting of a Last Will and Testament (or just a Will) is a fundamental aspect of estate planning, serving as a guiding document through which a person, known as the testator, delineates the manner in which their estate should be distributed upon their demise. A Will is considered a legal declaration that ensures the testator's wishes are executed in accordance with their precise instructions. To maintain the integrity and enforceability of this document, certain essential components must be incorporated.  This article explores 5 Key Elements of a Will and 5 Optional Elements of a Will that could be included.If you…
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Using a HELOC as an Emergency Fund

Establishing an emergency fund is one of the fundamental steps in building a firm financial foundation. Emergency funds provide you with a buffer for when, not if, but when life throws a curveball your way. Traditionally, such funds are maintained in highly liquid assets, accessible at a moment's notice to cover unforeseen expenses or to provide a financial buffer in times of income disruption. Most emergency funds consist of a checking, savings, or money market fund and perhaps some cash on hand that is easily accessible.A question I often get is should you use equity in a home as an emergency…
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What Happens if You Die Without a Will

So, you've decided to pass without a will. Yep, chosen, because anyone can make one, and if you haven't, it's a choice. It's like saying, "Surprise me with chaos!" Life's full of surprises, so why not add a twist after you're gone? While you've picked the unpredictability of not having a will, let's peek into the world of what happens next. Get ready for a wild ride of legal puzzles, family dramas, and 'who gets what' uncertainties! I'm afraid to tell you... you're intestate. When someone dies intestate, state laws, known as intestacy laws, come into play to determine how…
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How to Monitor Your Credit Score

Understanding your credit score is crucial for financial well-being. It plays a pivotal role in determining your ability to secure loans, credit cards, and favorable interest rates. Fortunately, checking your credit score has become easier than ever, and you can do it for free. In this guide, we will walk you through the process, providing information on contacting credit agencies, using reliable websites, and exploring alternative monitoring methods. The Three Credit Agencies There are three major credit reporting agencies in the United States: Equifax, Experian, and TransUnion. These agencies play a crucial role in the financial system by collecting and…
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From Ballots to Portfolios: Unraveling the Relationship Between Elections and Markets

Presidential election years often bring a whirlwind of emotions and uncertainties, not only in the political landscape but also in the realm of financial markets. Investors are frequently caught in a conundrum, grappling with the dilemma of whether to alter their investment strategies amid the volatility that accompanies these pivotal periods. Historically, the relationship between presidential elections and market performance has been a topic of intense scrutiny and debate. While it's tempting to make knee-jerk reactions or adjust investment portfolios based on the political climate, it's crucial to approach this with a clear understanding and a long-term perspective. A Caution…
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The Crisis Chronicles: How Stocks Won the Battle of Nerves

The stock market is a dynamic entity, subject to the ebb and flow of various events and crises that span the globe. News headlines and banners from the largest news outlets to the smallest Youtuber discuss the events of the day and how to react to the latest news that is sure to change the markets. As a long-term investor, it is important to cut through the turmoil and emotional rollercoaster and look at the historic context of crisis events. From political upheavals to economic recessions, geopolitical tensions to natural disasters, the market has weathered an array of challenges since 1970…
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Understanding When it’s Okay to Sell Investments at a Loss

Investing in financial markets involves a blend of strategy, timing, and risk management. Among the various decisions investors make, selling at a loss can be a bitter pill to swallow. Afterall, one of the fundamental principles of investing is "Buy Low, Sell High" not the other way around. While this is ultimately the goal of investing and I would to always have a portfolio consisting of 100% winners, in reality, a diversified portfolio will have some positions that win and some that lose. In these cases, there are circumstances where selling an investment at a loss can actually be a smart…
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Navigating Roth Conversions: A Comprehensive Guide

Planning for a secure retirement involves implementing tax smart financial strategies, and Roth conversions stand out as a key player in optimizing tax efficiency and maximizing your wealth. Understanding the intricate considerations behind Roth conversions is crucial for anyone looking to bolster their financial future. This comprehensive guide aims to break down the complexities of Roth conversions into consumer-friendly insights, empowering you to make informed decisions aligned with your long-term financial goals. This post is still under construction but is still helpful as a guide to what topics are important. Anywhere that says "Coming Soon" will have a separate article…
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What the Bible Says about Giving and Tithing

Generosity and the act of giving is a fundamental aspect of Christianity. Giving is so important that it is featured in arguably the most recognized Bible verses in the world - "For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life." Without that act of God's gift of generosity, we would not have the grace through which all people can be saved. Through this grace, we gain the freedom to live through Christ. With this freedom, we can generously share the joy we experience…
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Beyond the Numbers: Elevating Your Finances through Non-Financial Means

Financial security is a dream we all chase, but the path towards it often feels paved with spreadsheets and budget trackers. While careful planning is crucial, there's a hidden gem in the pursuit of financial well-being: investing in yourself. Cultivating a holistic lifestyle that prioritizes well-being, adaptability, and resilience can be the secret weapon you need to build a solid financial future. 10 Non-Financial Strategies for Financial Success Strategy 1: Build a Supportive Community Surrounding yourself with supportive individuals, whether through family, friends, or local groups, unlocks a wealth of resources and opportunities. From shared knowledge and experiences to pooled…
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