We’re defaulting millennials 90 percent into stocks without ever finding out what their tolerance for risk might be. Michael Kitces More Quotes by Michael Kitces More Quotes From Michael Kitces While it's appealing to make a pre-tax contribution directly from an IRA to a charity, the reality is that the 'double tax benefit' of donating appreciated securities to a charity is still superior for tax purposes. Michael Kitces money The only time my wife or I have set foot in a physical bank branch for the past two years was to get a legal document notarized. It’s glorious. Michael Kitces money They can go away, and they can go away fast. Michael Kitces money It’s not too late for young people to dial down their exposure to a level they can tolerate, make a change when things are down 10 percent instead of 40 percent. Things can get worse, and then you’ll make really non-rational, emotional decisions. Michael Kitces money We’re taking people who don’t need to be that aggressive and given them more risk than they can tolerate. What we’re going to do is turn them into lifelong bond investors - and that will cause them problems 30 years from now. Michael Kitces money
