A financial plan is not just a document—it’s a framework that drives every financial decision you make. Without one, it’s easy to accumulate assets without a clear understanding of whether you’re actually on track. Even more concerning, nearly half of Americans have no retirement savings at all , and many more are saving without a structured plan. The issue isn’t always a lack of effort—it’s a lack of direction. Here are five reasons a financial plan is essential. 1. It Defin

When it comes to financial planning, most people focus on saving, investing, and growing their wealth. But one of the most important pieces of the puzzle is often overlooked: having a will. The reality is, the majority of Americans do not have one—and that can create serious complications for their families. The Current Reality Recent data shows that only about 24–31% of Americans have a will in place , meaning nearly three out of four people do not . Even more concerning, ov

For many parents, one of the biggest financial questions they face is: How much should I actually be saving for my child’s college education? The answer depends on a variety of factors, including the type of school your child may attend, their current age, and how early you begin saving. But one thing is clear — college costs have risen dramatically over time. College Costs Have Outpaced Nearly Everything Else Since 1983, the cost of college tuition has increased over 900% ,

Most people check their 401(k) balance periodically, especially when markets are volatile or when a quarterly statement hits their inbox, but far fewer take the time to look beneath the surface and understand what is actually inside the account. Your 401(k) is likely one of the largest financial assets you own outside of your home, yet many investors cannot confidently explain: Their stock vs. bond allocation Which specific funds they hold What those funds cost in internal fe

Trump Accounts: A New Long-Term Savings Option for Children Trump Accounts are a new federally authorized savings and investment option designed to give American children an early start on long-term financial growth. Introduced as part of a broader economic initiative tied to America’s 250th anniversary, these accounts aim to expand access to investing, promote ownership, and encourage long-term savings from birth. Trump Accounts combine features of both an IRA and a custodia

Beginning in 2026, the SECURE 2.0 Act introduces an important change to how certain workers age 50 and older can make catch-up contributions to employer-sponsored retirement plans. For higher earners, these additional contributions will now be required to go into Roth accounts. Understanding how this rule works—and whether it applies to you—can help you plan ahead and avoid surprises when the change takes effect. How the Roth Catch-Up Requirement Works Starting January 1, 202

As we close the books on 2025, it’s a good time to step back and look at what actually happened in the markets—and what it means moving forward. This year was a reminder that markets rarely move in straight lines, even during strong years. Where We Started Markets entered 2025 near all-time highs following a strong finish to 2024. Optimism around economic growth, corporate earnings, and emerging technologies—particularly artificial intelligence—continued to support equity ma

As the end of the year approaches, many tax planning opportunities begin to close. While there are numerous strategies available, most individuals and families benefit most from focusing on just a few core areas. Below are the three most common and impactful year-end tax strategies to review before December 31. 1. Maximize Retirement Contributions One of the simplest and most effective ways to reduce current-year taxable income is to fully fund available retirement accounts.

The Department of the Treasury and the IRS have released official guidance on Trump Accounts , a newly created type of individual retirement account (IRA) designed to help children begin building long-term wealth. These accounts were introduced as part of the Working Families Tax Cuts , and while contributions cannot begin until July 4, 2026 , families can begin preparing now. Below is a comprehensive overview of how Trump Accounts work, who qualifies for the federal seed con