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As a Baby Boomer – What is your answer to these questions?

Are you a Baby Boomer approaching retirement? How many retirement accounts do you have? To help answer that question, it may be helpful to review all the different companies you have worked for over your career.

Have you consolidated any of these accounts? What does the investment mix look like? Have you coordinated all of these accounts against a master asset allocation? Do you know the rate of return the accounts are generating as a consolidated group? Will that rate of return help you achieve your retirement goals?

Is your ex-spouse still the beneficiary on your early career retirement accounts? If you and your current spouse are killed in a car accident, are your children listed as contingent beneficiaries on these accounts? If you have no children, do you need to sit down and do a reassessment of the beneficiaries that are on the accounts? Due to loss of family members over time, do you want these accounts to go to your favorite charity or do you want state law to determine where these assets go?

Need help answering these questions, give us a call.
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Peter B. Smith is a Family Wealth Advisor at the Planning Solutions Group in Fulton, MD and is an Annapolis resident. He can be reached at 301-543-6008 or by email at