October 20, 2025
From cursed market timing to the graveyard of forgotten assets, heed these chilling financial tales
Halloween is just around the corner, and COUNTRY Financial® is encouraging people to avoid becoming the main character in their own financial horror story. While these scenarios are spooky, they are also real. Take caution with these words of wisdom from Nick Erwin, CFP® and Behavioral Financial Advisor with COUNTRY Trust Bank.
“Market timing is the idea that you can predict when to get in and out of the market to avoid losses and capture gains,” said Erwin. “It sounds smart, it sounds strategic, but in practice it’s incredibly risky. Most people end up doing the opposite, buying high when they’re excited and selling low when things seem scary.”
Instead, Erwin advises investors to work with a financial advisor to create a financial plan that accounts for the ups and downs of the markets. “Build an investment portfolio that is designed to support that plan by having money available to support your needs when the market is down as well as a diversified, long-term portfolio so that when some investments are down, others may be up. Work with a financial advisor who can help you think through the next best action when the market gets spooky. Focus on long-term goals, not short-term noise.”
“This one’s surprisingly common. People change jobs, move houses, or inherit accounts, and over time, they forget about old 401(k)s, investments, insurance policies, even bank accounts. These assets sit idle, unmonitored, and sometimes even unclaimed,” said Erwin. Without proper planning, those assets can lose value, be forgotten in estate planning, or even get turned over to the state as unclaimed property.
To avoid this scenario, Erwin recommends conducting a financial inventory. “List everything,” he says, “retirement accounts, insurance policies, bank accounts, even digital assets. Then sit down with a financial advisor to review and consolidate where it makes sense.”
Ensuring your loved ones are taken care of should you pass away is vital. Check the beneficiaries of your accounts and insurance policies – life changes, and it’s important to ensure that the people you want to receive your assets upon your death are designated.
“We see it all too often,” Erwin said. “Someone may have an account such as an IRA or a 401K, or an insurance policy such as a group life policy at work, where a beneficiary needs to be named. As life changes, people forget to update their beneficiaries, or maybe they never named anyone to begin with. This can result in a real nightmare.
“I saw a client whose spouse passed away. His 401k didn’t have a beneficiary listed, so the money had to go through the court process, and that alone can cost a lot of time and money. I’ve also seen similar nightmares with life insurance policies going to ex-spouses and leaving kids with nothing.”
The bottom lie – don’t wait. Go back to the financial inventory you started and check the beneficiaries for all of your accounts and policies.
Avoid these spooky scenarios by working with a trusted financial advisor to create a plan that accounts for your risks and reaches your financial goals.
COUNTRY Financial® is a family of affiliated companies (collectively, COUNTRY) located in Bloomington, IL. Learn more about who we are.