Category: Ask Garden State Trust

Dear Garden State Trust: My parents are retired, living in another state. They have a sizeable investment portfolio and are financially comfortable. However, as they are getting older, they are having trouble keeping up with their paperwork. Last year they were late in making tax payments, very unlike them. I would help them, but I…

Dear Garden State Trust: How much of my salary do I need to save for retirement? —Responsibly Planning Dear Responsibly: The irreverent answer would be “all of it.”  All kidding aside, there is no simple answer for everyone.  The answer depends upon how many years until retirement, how much income will be required then, what…

Dear Garden State Trust: The S&P 500 stock index has reached new highs. Should I consider selling now? —Prosperous But Worried Dear Prosperous: Passing a stock index milestone is not a signal to buy or sell. However, it does focus attention on the market, and it may cause some investors to evaluate their portfolio. There…

Dear Garden State Trust: I am a satisfied trust customer. Recently my brother-in-law asked me about who handles my investments, and I was unsure about whether you welcome referrals. I don’t know how much he has to invest—would that matter? Do you want such cold referrals, or are they just a bother? Would you keep…

Dear Garden State Trust: Can I provide something for my pets in my will? Didn’t Leona Helmsley set up a trust for her dog? —Thoughtful Animal Lover Dear Thoughtful: Yes, Mrs. Helmsley created a $12 million trust to care for her pet, Trouble. However, the probate court subsequently reduced the size of the trust to…

Dear Garden State Trust: I’m old enough to retire, but I’m not sure I’m ready yet. I think I have strong financial resources, but I don’t know if they are enough to make me financially independent for the rest of my life. Retirement seems so terribly uncertain to me. When should I make the jump?…

Dear Garden State Trust: Yikes!  What happened to the stock market last fall?  Should I be getting out of the market now? —Dizzy and worried Dear Dizzy: The economy remains sound.  The labor market is strong, unemployment is low, retail sales were generally up during the holiday season.  We may have had GDP growth of…