Apprise’s Five Favorite Reads for the Week of July 17, 2022

Five Favorite Reads: Fighting the Bear Market
Articles discussing defending your time, improving your credit score, and more!

I understand the market environment remains difficult. You want to stay positive and maintain a long-term focus. But on an almost daily basis, your faith in the long-term gets tested. Some of you may need help in determining whether your spending plans are realistic given your current portfolio value. Others may have tax or estate complexities that cause paralysis and keep you from making important decisions. Still others just want someone smart and empathetic to speak with. Whether you already work with Apprise or not, we’re open to discussing any of these topics and more. Don’t wait. Please use this link to schedule some time to talk about what’s going on.

This week’s first article discusses the benefits that can come with completing Roth conversions when the market declines. A falling market creates opportunities for you to lower the overall tax cost of withdrawing money from your retirement portfolio when the time comes.


Here are the links to this week’s articles as well as a brief description of each:

1. Fight the Bear-Market Blues With a Roth IRA Conversion.

I keep sharing articles on this topic for a reason. In some cases, Roth IRAs offer tax advantages relative to conventional IRAs. This can make them a better option than conventional IRAs. But you must watch the price you pay to fund your Roth IRA. A down market can increase the upside that a Roth conversion provides. How so? When the value of the assets in your retirement accounts falls, the taxes you pay on Roth conversions can decline, too. That leaves you with greater potential for asset growth and increases the amount you can potentially withdraw tax-free. Roth conversions work best when you have the funds to pay the tax bill in another account. Otherwise, you will shrink the amount of IRA assets you can convert. If you would like help understanding whether you could benefit from a Roth conversion, please schedule a quick call. You can also go to this link to find the previous blogs I’ve written discussing some of the benefits of Roth conversions.

2. What the Second-Happiest People Get Right.

While there may be exceptions, most view happiness as desirable. But happiness does have its tradeoffs. Should we pursue happiness to the exclusion of other goals? That could be an exercise in futility. It could also lead to a life that we don’t want. It could keep us from reaching our full potential or leave us reluctant to take risks. You might also choose fleeting pleasures over challenging experiences if you make happiness your primary goal. In short, an aversion to unhappiness could cause us to forgo a meaningful life. According to studies of college students cited in this article, the happiest participants had the best social lives. But those who ranked second-highest had higher earnings in the future. In short, bringing good things into our lives involves risk. Risk may not necessarily make us happy, but it can also lead to bigger rewards than merely playing it safe.

3. How to Pass On Your Passwords When You Die.

In the past, I have highlighted the importance of making sure your loved ones know how to access your online accounts when you die. We often think about setting up a living will or a power of attorney. You should also set up your online accounts so someone else can access them after you’ve passed on. Doing so can save work and heartache for your relatives and heirs. This article shares some tips to help you set up digital legacy contacts. You can also use other means to share accounts after your death. If you don’t take care of this ahead of time, your heirs may have to go through a lengthy process to gain access to your data. In some cases, there might not be any way for heirs to access some of these accounts unless you prepare ahead.

4. 5 clever hacks to better defend your time.

Do you often wonder where your time went when you reach the end of the week? If you do, you’re not alone. This article’s author founded a company that’s been addressing the problem of how to manage and defend time intelligently for the past three years. He shares the following tips that can help make your people happier, more productive, and more focused.

  • Reduce the noise.
  • Get real about your available time.
  • Set more collaboration hours.
  • Embrace the benefits of automation.
  • Give balance to your schedule.

5. A Perfect Score.

A higher credit score can save you money. It can lead to a lower interest rate on your mortgage or car loan. You could pay less for a car, home, and other types of insurance. If you rent a home or apartment, your landlord will check your credit score. A higher score could make it easier for you to rent the home you desire. This article shares some tips to help you improve your credit score. They go beyond paying your balance in full every month. You don’t need to get a perfect score of 850 but increasing your score can provide benefits.

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We hope you find the above articles valuable. We would be happy to address any follow-up questions you have. You can complete our contact form if you would like to talk to us about financial topics, including your investments, creating a financial plan, saving for college, or saving for retirement. Once you do that, we will be in touch. You can also schedule a call or a virtual meeting via Zoom.

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