Most people never look at advisors’ background records.

At the risk of being emphatic: Please read the records. This may sound like the “don’t forget to floss every night” part. But if you skip it, and you’re serious about working with a financial advisor, you’re missing an important step. We place those SEC records right on each advisor’s profile on Wealthramp to make it easier to access. I’ll share some tips for high-level advisor vetting.

First, start by learning something about the individual advisor’s background.

1) A BrokerCheck for the Individual

Use FINRA’s BrokerCheck to look up the person you’re talking to. Just type in the individual advisor’s name.

What you’re looking for:

• Current registration: Is he/she a broker, a registered investment advisor, or both?

• Employment history: Does it make sense, or is it a revolving door?

• Disclosures: customer complaints, settlements, regulatory actions. This is where you’d spot red flags.

Give it to me in plain English: Who is FINRA and why do I care?

FINRA oversees brokers—the people who work at brokerage firms recommending investments like stocks, mutual funds, private investments and annuities.

Most people don’t realize that FINRA is a self-regulatory organization. It’s not the government. It’s the financial services industry overseeing itself. Let that sink in. It’s no different than high school students monitoring other students’ tests, or athletes refereeing their own games. There are rules, and they should be enforced. But it’s the same group policing itself.

Why fiduciary standard matters

A fiduciary is legally required to act in your best interest at all times. Brokerage firms are not willing to be held legally accountable when making recommendations or selling their products. They choose a lower standard of care.

That’s because brokers work under a commission-based sales model, not advice. Oversight comes from within that same structure. That doesn’t automatically make it bad. It just means you need to understand the incentives you’re stepping into. I know this because I worked under this model myself at a major brokerage firm decades ago.

After you’ve looked at the FINRA records, your next step for at-a-glance vetting is to go to the U.S. Securities and Exchange Commission’s site and pull the firm’s Form ADV.

2) Form ADV for the Advisory Firm

Every registered investment advisory firm has to file this document and update it every year. It’s public. It’s free. And almost nobody reads it. Shortcut: the narrative is Part 2.

Again, you’ll see it right below every advisor’s profile on Wealthramp. Here’s how to use it without getting lost:

Part 1: Facts about assets under management, number of clients, ownership, basic disciplinary history

Part 2A (the brochure): The real story about services, fees, investment approach, conflicts of interest, risks

Part 2B (supplement):The background, experience, and any disclosures for the individuals

What to zero in on

You don’t need to read every word. Here’s what matters:

• How they get paid: Fee-only? Commissions? Both? If you can’t explain it in one sentence, keep going.

• Conflicts of interest: Do they earn more if you buy certain products? It will be spelled out.

• Minimums and fee structure

• Disciplinary history: If it’s there, read it carefully.

• Services offered: Are they only managing money, or offering comprehensive planning?

Despite all of this being free and public, most people skip this step. One national FINRA survey found that only 14.2% of investors checked an advisor’s background over a five-year period. Separate research shows that about 7% of advisors have some form of disciplinary history, with much higher numbers of customer disputes at some of the largest firms.

The fact that only 14.2% of people look at background records surprised me. That tells me most people simply don’t realize these records are there, or how much they can reveal.

The resources are free. So, yes—read BrokerCheck. Read the ADV.

After these two important vetting steps, I conduct personal interviews and ask a whole different set of detailed questions. Background records won’t tell you everything, but it’s a strong starting point.

Connect With a Vetted Wealthramp Advisor

But by the time most people really need financial literacy, they’re making expensive decisions without enough of it. I’m talking about five-, six-, even seven-figure decisions that shape how the next 10 or 20 years play out.

It’s striking how many smart, capable people tend not to ask enough questions right when they should be digging in. Think about your own instincts for a second:

When the market drops sharply, do you feel more inclined to pull money out, stay invested, or take a step back and consider investing while prices are low?

When you hear about a “new opportunity” or private investment, do you pull the trigger feeling like you might be missing something big and important if you don’t jump at the chance in the moment?

Those first reactions matter a lot more than people realize. There’s a meaningful gap between the returns individual investors earn owning stocks, and what the stock market actually returns. DALBAR, an investment research firm that studies investor behavior, has shown for years that individuals consistently earn a few percentage points less than the overall market. That doesn’t sound like much, but over time it means hundreds of thousands of dollars you never capture.

That’s financial literacy in adult life. Why not slow down and ask questions like what’s driving this decision? What am I not considering? Who benefits from me saying yes to this?

When people admit they’ve made a bad decision, they tell me they weren’t willing to pause long enough to ask any questions because they didn’t know what to ask. And often it’s when they lean on someone else who appears to be ‘smarter than they are.’ But in many of those situations, that someone else hadn’t been properly vetted, the advice was not in their best interest, and now they feel self-conscious about their next decision. (If you’ve been reading Count Up for awhile, you already know why I’m a huge proponent of fee-only, fiduciary advisors—they’re legally bound to act in your best interest).

Find a Vetted Fiduciary Advisor

This happens every day with retirement plans. The number of choices keeps expanding—Roth or pre-tax, managed accounts, annuities, how much to contribute, how to invest, whether to consider newer, more complex options inside the plan. There’s more access than ever, but also more room to get it wrong if you don’t fully understand what you’re choosing.

I think that’s why this topic matters so much as an adult. Financial literacy is about developing the ability to step back and think clearly when something important is in front of you.

Every time you slow down and ask the questions that help you really understand a decision—how it works, what the tradeoffs are—you’re better equipped for the next one. Patterns start emerging and you can recognize situations you’ve seen before. You get more comfortable asking the right questions, which then delivers better results.

Take this approach when you’re in your 30s and by the time you’re getting closer to retirement, that financial literacy has compounded over the years. This becomes incredibly valuable at retirement and beyond. You’ve learned to not react at the moment. Instead you’re making decisions with context and perspective.

Someone once told me that the quality of the answer you get is only as good as the question you ask. That stuck with me. I was lucky—I became interested in money and investing early enough that I didn’t care if I asked “dumb” questions. (And I asked plenty of them).

Explore a One-Time Financial Checkup

And this applies to asking for advice from a fee-only advisor. An outstanding fiduciary advisor will encourage you to ask more questions because that advisor knows the more knowledgeable you become over time, the better your conversations will be about the details that impact your future.

That’s what I find myself coming back to this month. As an adult, financial literacy is something you build—over time, through real decisions, in real life.

And it keeps paying you back the more you stay engaged with it.

I feel strongly that if you’re getting anywhere close to retiring, this is the moment to make sure the plan you’ve built is truly holding up. Because there’s a big difference between things ‘seem to be okay,’ and actually knowing they are.

That’s what led me to write this article for Kiplinger. What people need right now is a real financial checkup. Not a quick, superficial look, or ‘cookie cutter answer’ but a thoughtful evaluation of how everything fits together.

The truth is, this kind of check up hasn’t been easy to find. Most financial advisors don’t offer it. That’s why I’m so glad to say it’s now accessible through Wealthramp. I have many advisors offering one-time evaluations so you can get real clarity without on-going fees or committing to anything long term.

Explore a Financial Checkup

If you have any questions or want to reach me, I’d love to hear from you.

See you next week!

The numbers genuinely surprised me. This year, Pew Research reports roughly 1 in 4 Americans are providing ongoing care, and among people in their 40s it’s closer to 54% juggling both kids and parents. The same survey shows now the majority feel financially exhausted. A lot are taking a drastic step: they’re actually stopping their retirement contributions to keep up. And according to AARP, out-of-pocket caregiving costs average around $7,200+ per year, and that doesn’t count lost wages or missed opportunities.

If you’re in this spot, you feel this constant tug-of-war of whether to help your family now or protect your own future. For most of us, stepping up isn’t optional, it’s a responsibility. But without a plan, it can seriously damage the financial security you’ve worked decades to build.

The numbers are growing thanks to longer lifespans, more expensive health care, and adult kids staying home longer. It really has become a perfect storm.

Here’s what I’ve seen that actually helps.

Don’t wait. Start the money conversation with your parents now. No doubt, it’s the elephant in the room. Be thoughtful and respectful and talk about this openly while they’re still independent. Frame the conversation so they understand you’re not taking control. You’re trying to prevent a truly unaffordable situation down the road. Keep it calm and collaborative.

Ask your parent(s):

• How do you see covering future health or housing costs?

• What income are you counting on (Social Security, pensions, investments)?

• Do you have long-term care insurance or any plans in place?

• Are there accounts, policies, or documents I should know about?

These talks can feel awkward, but having them now can help your loved ones understand that planning together is the single best way to avoid a financial crisis later.

Protect your own retirement first.

This can feel selfish, but it’s not. If you’re over 50, those retirement catch-up contributions are powerful — and once those years pass, they’re gone. Decide in advance what you can realistically afford to give without cutting your own savings. Make it a defined, sustainable number, not an open-ended tap that grows with every new need.

Need Help With a Plan?

Maximize your parents’ resources before you fill the gaps.

Many families overlook what’s already available. Help them explore:

• Medicaid planning (when appropriate)

• Property tax relief programs

• Veteran benefits

• Local services through Area Agencies on Aging

• Downsizing or housing changes

I’m usually not a fan of reverse mortgages, but in rare situations they can be part of the solution. The goal is to stretch their money first, not replace it with yours.

Structure family loans with clarity and avoid the big family fight.

When support starts flowing, you must document it. Treating help as a loan instead of a gift can prevent resentment and tax issues later. Keep siblings in the loop and consider pooling contributions when possible. A simple shared understanding of responsibilities goes a long way toward keeping family relationships intact. The last thing you want is to turn next Thanksgiving into a big drama.

Find a Fiduciary Advisor Today

If you’re still working, you might have some valuable (overlooked) employee benefits.

AARP broke it down this way: about 70% of us are balancing jobs and caregiving, yet these benefits often go unused:

• Flexible schedules or remote work options

• FMLA-protected leave

• Employee Assistance Programs (EAPs) for eldercare referrals, counseling, and financial advice

• Dependent Care FSAs to pay for qualifying adult care expenses with pre-tax dollars

• Paid family leave or caregiving support where offered

Check with HR. These can provide real relief on both time and money. (I recently wrote a primer on maximizing employer benefits—check it out here).

Set clear boundaries. Plan ahead. Communicate openly.

The biggest asset is your mindset. Helping your parents matters deeply, but sustainable support is the only kind that will really work. Honestly, it comes down to how you set your boundaries, then how you plan, and how you communicate. That becomes the blueprint your own children will follow.

Remember, the goal is not to put yourself in a position where you’ll one day need to rely on your adult children for financial support.

P.S. If you’re looking for answers to complicated financial care questions, Wealthramp is here with a trusted network of fiduciary, fee-only advisors who work for you — and only you.

Last week I talked about the investing blind spots we all have that reveal themselves when markets drop day after day. This week, the question coming at me from all sides has more urgency: What should I do right now?

I want to point out an even more important question: what not to do?

Headlines give us a mix of information that comes with a lot of noise. Stocks are lower but bouncing back, energy prices are climbing, a full tank of gas is hitting $60–80 depending on where you are. That’s real, and it’s on the front page everyday.

But zoom out a bit, because what’s really moving underneath is what counts.

Oil prices have spiked to around $107–108 a barrel, and diesel prices matter because it’s the fuel that hauls almost everything we buy. When diesel gets over $5 a gallon nationally, it doesn’t just hit truckers; it ripples straight into the cost of groceries, goods, everything we buy on Amazon. That’s classic inflation coming through the supply chain.

For some context: over the past three years, the S&P 500 racked up total returns of roughly 26%, 25%, and 18%. That’s an epic run, and it’s what has shaped a lot of retirement portfolios. We’ve all been heavily exposed to the stocks that have been winning.

At the same time, advisor Jeff George, CFA in our Wealthramp network, pointed out when I was on Yahoo Finance last week that a lot of people simply don’t have enough exposure to the stocks that tend to hold up, or even shine, when inflation is rising. I’m talking about energy, commodities, mining stocks, real assets.

It’s not a mistake. It’s just what happens when you believe your broad S&P index fund is diversified in a meaningful way, but the S&P index has had little exposure to the kinds of stocks that protect you because tech is now so heavily weighted.

Right now, the markets are being pulled in different directions. The economic signals are mixed. Growth feels uncertain, inflation is real, and interest rates are anyone’s guess. It’s hard to build a plan around mixed signals.

Here’s my perspective. Don’t try to know everything. Instead, build your plan for resilience. (You can always find an advisor to help with a plan anytime at Wealthramp.com by answering a few quick questions. It’s free and we never sell your personal information).

Think of your portfolio like a really good shock absorber on your car. It doesn’t need perfect road conditions. It has to be able to handle bumps, potholes, and sudden turns without falling apart. That’s the mindset that matters.

What to Watch Right Now

• Energy prices: Rising oil and diesel feed directly into broader inflation and everyday costs.

• Interest rates: Higher rates add another layer of uncertainty.

• Your actual exposure: Not what you think you own, but how your holdings really behave in different environments.

What to Do Right Now

• Focus on resilience as your goal, not prediction or outsmarting the stock market. You don’t have to nail the next move. You need a setup that can weather more than one scenario.

• Ask: How does my portfolio hold up if inflation stays higher? If growth slows? If market leadership rotates?

• Look for gaps, not just trends. Where might you be light on assets that tend to move up when stocks move down?

• Make the adjustments where needed, if needed. This doesn’t need to be a full overhaul. It’s to fortify any weak spots so shocks don’t derail you.

What Not to Do

• Avoid chasing what’s already been working. By the time it’s everywhere in the news, the move has often already happened.

• Don’t confuse owning lots of funds with true diversification.

• Resist reacting to short-term noise and focus on your long-term plan.

The best question to answer right now is this: If things shift again, will my portfolio hold up the way I expect?

Most people haven’t really stress-tested it through that lens lately. And many don’t realize that fee-only advisors will help them do exactly this. Pressure-testing doesn’t mean making big, dramatic changes. It’s about knowing what you own, how it behaves in different environments, and making sure it’s built to handle more than just sunshine and blue skies.

Last week, a lot of people suddenly realized they had blind spots. This week, focus on resilience to move through them.

Diversification wins all battles. I’ve said it a thousand times on my MoneyTrack series. When people ask what resilience really means, it’s true diversification that allows you to bounce back quickly and strongly after challenges, setbacks, or stress. And that’s exactly what we’re aiming for, in portfolios and in life.

Don’t just assume you’re truly diversified. Let’s look under the hood.

I always love hearing your experiences. Drop me a line anytime.
Pam

“Financial advisors always want to manage my portfolio. I need advice, but I want to manage my own money.”

I understand why people say that. The dominant business model in this industry is assets under management. Most fiduciary advisors want to assume full responsibility for implementing the investment strategy because at the end of the day, they are accountable. So most require that you hand over control of your portfolio in order to work with them.

That never sat well with me.

When I built Wealthramp, I was intentional about curating a network of experienced, fee-only fiduciary advisors who offer flexibility in how they work with clients. Advisors who allow you to simply “buy some hours” for a one-time deep dive consultation. Advisors who offer ongoing planning retainers or flat-fee advice. Advisors who provide strategic oversight without automatically requiring portfolio control. And of course, they will absolutely manage your investments — but only when that’s what you want.

That choice had to be built in from the start; it’s what makes the whole thing feel right.

Which means you can choose the engagement structure that fits you — based on your goals, your level of involvement, and the complexity of your life. There are really only three ways to work with a fiduciary advisor.

1. The One-Time Second Opinion

This is ideal for the experienced DIY investor who wants a serious evaluation without turning over their portfolio.

I help a lot of people at moments like this. They’re not completely sure they’re on track. Retirement is five years away and they want to know if the numbers truly work. Or they’re deciding whether to exercise stock options, sell a concentrated position, buy property, or begin Roth conversions. They don’t want someone “managing” their money, but they don’t want to make the biggest financial decisions of their lives alone.

You pay a flat or hourly fee for a comprehensive review of your financial life. That may include portfolio analysis, tax-aware planning, withdrawal modeling, concentration risk evaluation, and retirement readiness testing.

You walk away with a clear roadmap. You know what’s solid, what needs attention, and where risk may be hiding — and you continue managing your own investments.

For many thoughtful investors, that’s exactly enough.

2. An Ongoing Planning Retainer (Without Turning Over Assets)

Some people want a long-term strategic partner. They value financial and tax planning, but they want to execute investment decisions themselves and avoid an assets-under-management fee.

In this model, you pay a flat annual retainer based on complexity and scope — not portfolio size. It’s an advice fee. The advisor provides ongoing planning, tax coordination, retirement income strategy, Roth conversion planning, and broader guidance around real estate, estate planning, and long-term healthcare decisions.

You are still implementing the strategy. But you are no longer doing it alone. You have a fiduciary sounding board who understands your entire financial picture.

This works well for disciplined investors who want structure and oversight without delegating implementation.

3. Ongoing Investment Management and Comprehensive Planning

This is the traditional model most people are familiar with.

Here, the advisor designs the plan, implements the investment strategy, then executes and manages the portfolio on an ongoing basis. It’s your asset allocation, rebalancing, tax-loss harvesting, withdrawal coordination, estate considerations, and regular reviews of all of it as life evolves. Fees are often structured as a percentage of assets under management, though some advisors use flat or retainer pricing.

This approach makes sense when financial life grows more complex, retirement withdrawals begin, tax planning deepens, or you simply no longer want full responsibility for managing every moving part.

Those are your three options:

• A one-time second opinion.

• An ongoing planning relationship.

• Or comprehensive wealth management with implementation.

You’re not locked into one model. Many clients begin with a one-time engagement and later move into ongoing planning. Others start with a retainer and eventually decide they no longer want to handle rebalancing, Roth conversions, RMDs, or tax-loss harvesting themselves. Over time, trust builds. Circumstances change. And shifting into full wealth management becomes the natural next step.

I also need you to know you don’t need a million dollars to qualify for this help. These three options exist whether you’re 30 and building wealth, approaching retirement, or already there. The structure should match your needs – not the other way around. (You can always find the right advisor to meet your needs anytime at Wealthramp.com by answering a few quick questions. It’s free and we never sell your personal information).

What matters most is that the process is fiduciary-level. It’s clear, transparent, conflict-free, and centered entirely on your best interest. As I always say, I’m not settling for less, and I don’t want you to settle either.

But we’re still feeling it like it’s 2022. (If nothing else, you’re likely seeing it at the gas pump this week, as conflict in the Middle East has caused the price of oil to skyrocket).

Let’s put this into context. About five years ago, inflation was nice and low, roughly 1–2% a year, barely enough for people to mention it. Then inflation spiked after Covid and peaked in June 2022 at about 9%, with prices surging at a pace we hadn’t seen since the 1980s. Since then, inflation has gradually slowed back down toward the 2–3% range.

I keep thinking about the conversations I have every week with readers, clients, friends, and family members and how different their experiences sound. Prices still feel high, and that sense of financial strain hasn’t really eased. I hear comments like, “This economy is terrible. I hope it turns around.”

That disconnect is what fascinates me.

And it’s not your imagination. If it feels like prices are still rising when you’re buying meat, coffee, a pair of 18k gold earrings, or eating out, that’s because they are more expensive. Certain everyday items are rising faster than the overall inflation rate.

It’s not that people don’t believe the headlines. It’s that government statistics and real life are measuring two different things.

Inflation statistics are backward-looking. They tell us what prices did over the past year, averaged across the country. That’s essential for policymakers and economists.

But we don’t live life backward.

We live in the now and think about what comes next. We budget for the next rent increase, the next insurance renewal, the next grocery run. And we worry about future costs even when the headline inflation number improves.

When inflation was running at 7% or higher, prices jumped quickly and painfully. Now inflation is closer to 2–3%. That doesn’t mean prices came down. It means prices are still rising, just more slowly than during the spike.

The biggest price jump has already happened. Slower inflation today can’t undo that. And this is where things can get confusing. This is often described as ‘disinflation’, which simply means inflation is slowing. Not to be confused with ‘deflation’ that would mean prices actually fall. That’s not what’s happening so prices aren’t lower.

So when people hear “inflation is down” and it doesn’t feel like it, it’s because everyone’s cost of living is still higher, just not as fast as prices were rising before.

Inflation doesn’t hit everyone the same way. It’s national in how it gets reported but local in how it’s lived. Housing, insurance, food, and energy costs vary dramatically depending on where you live.

And for people who are already retired and relying on their savings, inflation isn’t just a concept. It’s personal.

And if you’re wondering about tariffs’ impact on inflation, they can push up the cost of certain imported goods and have contributed modestly to price increases in recent years, but they are not the primary driver of inflation trends overall.

Brett Spencer, CFP®, CEPA in the Wealthramp network puts it this way: “In 2025, CPI was up 2.7%. For investors, that’s a hurdle your portfolio has to clear just to stand still in real terms.”

That threshold becomes even more of a challenge for retirees prioritizing stability. A “safe” bond fund paying 3.7%, for example, would have only delivered about 1% above inflation before taxes.

After taxes, the real return may be close to zero. That’s a real risk, especially if you plan to live to see your 100th birthday.

That’s why you hear me say this often: if you’re getting closer to retirement, now is the time for a full financial checkup, just like an annual exam with your primary care doctor. You want an honest assessment of whether your portfolio is actually keeping up after inflation, taxes, and withdrawals. (You can read more about why I recommend fiduciary financial advisors here, and you can also email me with questions anytime).

Even moderate inflation will steadily erode your purchasing power if a portfolio isn’t designed to keep up, especially once withdrawals start. And it’s not just about the numbers. It’s about the peace of mind that comes from working with a fiduciary advisor who helps you make decisions that impact your entire financial life.

Inflation statistics are averages, but your personal cash flow is your reality.

I’ve been thinking a lot about how we design these middle years in our career lives. Not just saving for retirement as a finish line, but considering the long stretch of years when we’re still working, probably in our peak years, still caring about our futures but also starting to care more about how we can live the fullest right now.

That’s where something called Coast FI comes in. It’s an idea that says, you’ve already saved enough early on so that if you actually stopped contributing to retirement today, your investments could grow all on their own to fund the future. In other words, you’ve reached critical mass and from now on, the focus can shift away from pushing harder for tomorrow to being more intentional about living the life you want today.

Some of you may remember that I was a guest late last year on the How to Money podcast, hosted by Joel and Matt, whose work I really respect. They do a great job breaking down personal finance in a thoughtful, grounded way, especially for people trying to make smart decisions without losing sight of real life.

I was excited when they asked me to write a piece for the How to Money blog, because it gave me a chance to go deeper on Coast Financial Independence — what it actually means, how it works, and why it’s coming up more often in conversations with people in their 30s and 40s.

You can read the full article here:

What to Know About Coast FI

Rather than simply repost the same article here, I’d really love to hear from you. Does this idea resonate with you? Does it feel practical for where you are in life? Or does it raise more questions than answers?

Write back or comment and tell me what you think. I’m genuinely curious how this lands with you.

Warmly,
Pam

P.S. Want more guidance about your own financial situation? Take a free, 2-minute survey to begin.

Keep that mindset when you log into your employee benefits portal and really get to know what’s there. Look beyond just your salary and health insurance. Get a good sense of retirement contributions and any employer matching, health savings accounts (which are triple tax free), and any free financial coaching programs designed to help reduce stress around money struggles, especially if you’re dealing with debt.

These benefits are right there hiding in plain sight, yet most people don’t touch them. Research from The Hartford found that 70% of employers say employees are not effectively taking advantage of the benefits available to them. Other surveys show that many employees don’t really understand what they have access to, which helps explain why participation stays low.

That’s money you may be leaving on the table.

For example, a typical retirement match of 3% to 6% can easily be worth $3,000 to $6,000 a year for someone earning $100,000. Over time, that alone adds up to six figures. Free financial coaching can save hundreds or thousands of dollars in outside fees. Emergency savings programs can prevent a single surprise expense from turning into high-interest credit card debt. Student loan assistance of even $100 or $200 a month can shave years off repayment. An HSA is one of the few benefits where contributing just a few thousand dollars a year can reduce your taxes now and create a dedicated, tax-free pool for healthcare costs in retirement.

All of that is truly useful. Helpful, even.

But what if you need real financial advice that goes beyond just what’s in your 401(k) menu?

So far, we’ve been talking about free workplace benefits designed to help you, things you should absolutely take advantage of because they put money back in your pocket and reduce financial stress. Now I’m switching gears to make you aware of what not to rely on. This is when that Me, Inc. mentality really matters.

There’s a whole different category of “financial guidance” that’s offered as investment or planning “recommendations” that feel just like the kind of personal financial advice you’d get from hiring your own financial advisor. But you need to know that recommendations that come from your plan’s representatives aren’t necessarily in your best financial interest.

Recordkeepers like Empower, Fidelity, and TIAA manage your retirement plan day to day. They know you only through what you’re doing inside that plan. And every day, they communicate with tens of millions of employees. Their systems are designed to stay in front of you. I talk to people all the time who tell me they’re getting four or five emails a week from their 401(k) record keeper promoting things like rollover solutions, managed accounts, and annuities — and that can feel a lot like very personal financial advice.

This is where I suggest you put yourself first and stop to ask the plan rep this simple question:

Is anyone here legally obligated to put my financial interests first? Are you acting as a fiduciary to the plan, or to me?

In other words, who is this recommendation designed to benefit most — me, or the provider offering it who makes money if I buy it?

Your plan’s record keeper works for the plan. Their legal obligation is to the retirement plan itself, not to you as an individual employee. That means their scope of help is severely restricted. They can explain what’s in your plan and how the tools work. That’s the boundary that few employees realize.

A big part of your financial life happens outside this one retirement account. Your taxes. Your spouse’s retirement plan. Your real estate. All your other savings, and most importantly, your future income and lifestyle after you leave this company. None of that is part of what they see.

It’s essential that you operate with this knowledge: plan representatives are allowed to recommend managed accounts, model portfolios, rollovers, and products that keep assets inside their system. It is not the same thing as financial advice.

No one is going to draw this boundary for you. You have to do it yourself. This is so important that I’ll repeat it again. Here’s your script:

Is anyone here legally obligated to act as fiduciary to me, and put my interests first — or are they acting as a fiduciary to the plan?

Unless the answer is “fiduciary only to me,” then it is not financial advice. It’s intended as education or as a product recommendation. But this is when you may need real financial advice from someone who is completely independent of their plan.

That means an advisor who is legally fiduciary to you alone. Someone who evaluates your whole financial life, including tax planning, Roth strategies, estate planning, and retirement income. A highly qualified, fee-only advisor who helps you understand how the decisions you’re making now affect the rest of your life, including whether you’re on track not to run out of money in retirement. (You can find an advisor like this in my Wealthramp network).

At that point, your most trusted resource isn’t a free employee benefit. So yes, use everything your employer offers that genuinely helps you. Take the match. Build savings. Learn what’s valuable to you. And ask questions.

Just be clear about what to accept and what to pass on. When you understand that boundary, that’s when you really start running Me, Inc. the way it deserves to be run.

Growing up, my dad had one piece of advice he repeated so often it became permanently lodged in my brain. He told me it was my responsibility to make sure I never became 100% financially dependent on a boyfriend or a spouse. Not because relationships are destined to fail, but because life has a way of changing. People change.

At the time, it sounded practical. Years later, it sounds prescient.

Women live about six years longer than men on average, and most will spend at least part of their later lives on their own — whether through divorce, widowhood, or choice. That reality raises the stakes. Even when money isn’t the biggest concern in your life at the moment, it’s the one constant that has to support you for as long as you’re here. And for most women, financial independence isn’t hypothetical—it’s part of how life actually works.

I took my dad’s advice.

Whether single or partnered, money is part of your daily life. It shapes decisions, influences stress, and money creates either freedom or friction. You might share it with someone close, keep parts separate, or manage everything solo — but you’re always in a relationship with your money.

For couples, money differences may have nothing to do with math. One partner wants structure and predictability. The other values flexibility and feels more comfortable taking risks, or spending freely. One feels calmer with a financial plan. The other feels boxed in by a plan. Most arguments about money aren’t really about spending or investing — they’re about feeling heard and not feeling threatened by a constant sense of financial insecurity. And that means talking about it can be uncomfortable.

Avoiding those conversations doesn’t create harmony. It just delays the day of reckoning. Silence doesn’t prevent financial decisions from happening — it just means they happen without shared understanding. The data back this up. According to Ellevest, couples who talk about money week-to-week report significantly higher relationship satisfaction (78%), while finances remain the top source of conflict for more than half of couples (56%).

Surprisingly, debt isn’t automatically a huge problem. Not having a plan for it is. What often helps eliminate frustration is structure — agreeing on priorities, timelines, and guardrails that reduce emotional decision-making and eliminate secrecy, which erodes trust faster than almost anything else.

Investing works best when couples agree on purpose, even if they differ on preferences. You don’t have to agree on every index fund or strategy, but you do need clarity about what the money is meant to support — education, retirement, housing, flexibility, or peace of mind.

Simple agreements help you:

• Separate the short-term needs from long-term investments

• Coordinate all the retirement and brokerage accounts as one household strategy

• Decide on a risk range both partners can tolerate

Those conversations are a lot easier when markets are calm, not when the stock market is in a tailspin.

If you’re single your relationship with money is your safety net, your independence, and your ability to make choices on your own terms.

This isn’t always how people think about financial advisors, but this is exactly the kind of moment when a fiduciary advisor can add an experienced, neutral voice to the conversation. A fee-only fiduciary is legally required to act only in your best interest, without competing incentives. The payoff isn’t just better decisions—it’s trust, alignment, and a clear game plan to move your life forward. (If you’ve been reading this newsletter for awhile, you know I’m a huge proponent of fee-only fiduciaries. It’s why I created Wealthramp!)

Taking care of your relationship with money is one of the most loving things you can do — for yourself and for anyone you choose to share it with. I didn’t just learn that lesson. I’ve lived long enough to fully understand why it matters.

The Treasury Department and the IRS are rolling out a new investment account designed to start at birth, with the money belonging to the child. More than a million families submitted early elections and hundreds of thousands more followed right after the game. The accounts themselves are expected to launch in July 2026, but the rules that determine how they work are being set now.

If you’re planning to have children—or may in the future—you’ll want to understand what these accounts are designed to do. While the launch is still ahead, the most important decisions are happening now.

They’re called Invest America Accounts (you may also hear them called “Trump accounts” or “530A accounts”).

How “Trump accounts” work

For children who qualify, the account is seeded with a one-time $1,000 government contribution to get it started.

A parent or authorized adult has to elect to open the account through the tax system. The Treasury and IRS have confirmed this election is tied to your federal tax return, not a brokerage firm. The newly released IRS Form 4547 is used to make that election and to request the $1,000 seed.

If no election is made, the Treasury has said the account may be created automatically when a tax return is filed. How that works in practice is still being finalized. Either way, it’s triggered through the tax system.

At the start, the account is administered by the U.S. Treasury through a designated financial agent. Parents don’t choose a brokerage right away. Over time, families may be allowed to move the account to a private custodian, but the Treasury’s custodian is the starting point. That structure keeps costs low and guardrails tight early on.

Once active, the money is invested only in broad, low-cost U.S. stock market index funds. Think: a 401(k) for a baby, with a very limited investment menu on purpose.

Parents control the account while the child is growing, but the child owns it. The money is locked up until age 18—by design. After that? Let’s be honest. An 18-year-old can still do something impulsive, like buy a cool new Jeep. The difference is there are real tax consequences and penalties if the money isn’t used according to the rules. Ouch.

Adding money

Before the child becomes an adult, families can add money over time, up to $5,000 per year. It creates a simple way for family members to make meaningful gifts that support education or other long-term goals.

Starting in July 2026, employers may also be allowed to contribute—up to $2,500 per year, tax-free to the employee, counting toward that same annual limit. Whether employers embrace this is still an open question, but it’s part of the design.

One important detail that’s easy to miss: the government’s one-time $1,000 seed contribution is limited to children born between January 1, 2025 and December 31, 2028. Timing matters. Older children can still have Trump accounts opened and funded by family contributions—they just won’t receive the seed.

Used alongside tools like 529 plans—and paired with clear, practical education—Invest America Accounts could become one of the most meaningful on-ramps to financial literacy we’ve ever had. For families already saving for college, this is also a moment when a fee-only fiduciary advisor can help connect the dots so these accounts work together instead of sitting in silos.

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The real opportunity

I served on the board of the California Jump$tart Coalition, focused on financial literacy from kindergarten through college. One thing has always been clear: it’s incredibly hard to teach kids about money when it’s abstract.

This changes that.

Having an account in a child’s name makes ownership real. Compounding isn’t theoretical anymore. Market ups and downs suddenly have context. It nudges families from just getting by toward planning ahead—especially those who’ve never invested before.

Even if a family never adds another dollar, a $1,000 seed invested at a modest 7% annual return could grow to roughly $3,300–$3,500 by age 18. Add just $83 a month starting early, and that number climbs to roughly $38,000–$40,000. That’s the power of time and consistency.

I can’t think of another program in my lifetime with this kind of structure and so little downside. Child investment accounts aren’t new—versions of baby bonds have drawn bipartisan support for years.

The real risk is education. If families don’t understand how to use the account, an 18-year-old could treat it like free money instead of a foundation.

Right now, families can take a concrete step by filing IRS Form 4547 with their 2025 federal tax return. Submitting the form doesn’t move money yet, but it locks in eligibility and requests the $1,000 government seed if the child qualifies.

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Account activation and funding come later. Treasury has said authentication details will be issued beginning in mid-2026, and no contributions—including the seed—will be deposited until the accounts officially open in July 2026.

That’s the real headline. The money comes later. The decisions—and the chance to get this right—are happening now.

And this time, we actually have the chance to get that part right.

I understand why this proposal is getting traction. I’m not against it – it would be like taking a stand against peace on earth. For many would-be buyers, the down payment is the single biggest barrier. And retirement accounts often represent the largest pool of money people can tap into.

But this is where I pause.

Because retirement plans were built for a very specific purpose: helping people accumulate enough money so they don’t outlive it. And we don’t have to look very far for proof of what happens when retirement plan guardrails loosen.

Research from the Center for Retirement Research at Boston College shows that retirement “leakage” — money taken out before retirement and never replaced — reduces retirement wealth by about 20% over a lifetime. When people leave jobs, roughly 40% cash out their 401(k) instead of rolling it over. Most don’t intend to drain it– they just never manage to rebuild it.

I think back to being in that exact position – in my mid-30s, when I was just at the point of buying a house on Cape Cod. I wanted a chunky 20% down to avoid paying PMI. That was the whole challenge. And when looking at the sources to fund that downpayment, my retirement plan was sitting there with its hand raised.

And yes, employees can already use their 401(k) for a down payment today — but only by taking a loan. That’s if their employer’s plan allows it. That option comes with strict limits ($10,000), mandatory repayment schedules, and real risk if someone changes or loses their job.

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Let me walk you through how I think about this. Say I needed $50,000 for the down payment. I had two choices: borrow that $50,000 as part of a 30-year mortgage, or pull it from my 401(k) to avoid borrowing it.

If I borrowed that $50,000 through a 30-year mortgage at around 5% — a typical rate back then — the total interest over 30 years would have been roughly $46,000.

If that same $50,000 stayed invested in a 401(k) earning a reasonable 7% annual return, over 30 years it would grow to more than $300,000.

So yes, using retirement money might save you $46,000 in mortgage interest. But is it worth costing you over $300,000 in lost retirement growth?

Looking through the lens of the actual trade-off you’d be making is a game changer. So you have to factor in what it’s really costing to raid your retirement plan, which forces an honest question: If you need to tap your 401(k) to buy a home, is that truly an “investment” decision, or is it a lifestyle purchase you want very badly at that moment? Can you really afford the house?

There’s nothing wrong with wanting the house. But policy shouldn’t drive your decision-making. Housing affordability matters. So does not becoming house-rich and cash-poor later in life.

There are many personal financial considerations that go into deciding whether a home is truly a good investment. Your employer is not your financial advisor and can’t offer the kind of deep-dive analysis you’d need to make that decision smartly.

Retirement plans already carry enough responsibility. Turning them into a housing affordability tool risks creating a problem that won’t reveal itself until it’s much harder to fix.

If this becomes law or rule soon, expect a gradual rollout starting perhaps in 2027 for early adopters, not an overnight change.

If you’re thinking about a home purchase, or any other major financial milestone, Wealthramp is here with a trusted network of fiduciary, fee-only advisors who work for you — and only you.

For those who consider themselves pre-retirees, it’s no longer just asking “How do I grow my money?” It’s, “How do I manage it without making a huge, expensive investing mistake at exactly the wrong time?”

When I think about that question, my thoughts turn back to one of the experts I’ve long respected: Christine Benz. I first met Christine more than 30 years ago, and over that time she’s become one of the clear-headed voices on retirement planning at Morningstar. She has a rare ability to take complicated ideas and explain them in depth in ways that actually help people make better decisions.

One concept she writes about frequently is the bucket strategy. It’s where you organize all of your retirement savings based on when you’ll need the money, rather than envisioning just one big investment account.

The first bucket is money you’ll need to spend now or next month — typically cash or cash-like investments that might cover the next year or two of living expenses. Bucket one money needs to be completely available. The goal isn’t investing it, it’s about having the money to pay your bills, and “just in case.” It’s your sleep-at-night money.

The second bucket holds money you’ll need a bit later. This is often invested safely in bonds or other relatively steady investments designed to support spending a few short years down the road without taking big risks. The point is to not commit this mid-term money to long-term investments.

Bucket three is for your longer-term investments. If you’re 60 now, you likely won’t spend this money for a long time. You have time to put it to work. This is where stock investments usually live. ETFs, index funds, individual stocks, or even real estate investments can be volatile in the short term, but over longer periods they’ve historically provided the growth retirees need to keep up with inflation. Inflation and longevity are two big risks to retirees’ savings that have to be mitigated.

Christine didn’t invent the strategy but she writes that this time-based structure helps retirees avoid one of the most stressful moments in retirement: being forced to sell stocks during a market downturn just to pay everyday expenses. If you know your near-term spending is covered, it’s easier to leave long-term investments alone and let them recover.

A simple example helps. A retiree might keep enough cash to cover the next year — or even two — of living expenses. A combination of bonds and conservative, dividend-paying stocks can help support spending after that. Stocks, ETFs, or index funds focused on growth are set aside for later years, when growth still really matters. As time passes, money is spent from the first bucket, and the others can be replenished over market cycles. It’s a way to mentally organize your money so it syncs up with how retirement actually unfolds.

Managing retirement money gets really complicated fast — taxes, lifestyle changes, family, health. One appeal of the bucket strategy is that it can reduce some of the stress of investing and make spending your savings feel more manageable.

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It’s not perfect. Managing three buckets can feel a bit complicated itself, and some critics argue that a well-diversified portfolio with a thoughtful withdrawal plan can accomplish similar goals without dividing assets into buckets. Still, this three-bucket strategy has been around for years — and there’s a reason it continues to resonate, and why Christine Benz continues to write about it.

This way of organizing your money isn’t right or wrong. It’s simply one tried-and-true way to connect your money to real life — and sometimes, that clarity makes all the difference.

P.S. If you’re reading this because you’re preparing for that first conversation about your retirement plans, you’re already doing something powerful: you’re taking ownership of your financial life.

When you’re ready, Wealthramp is here with a curated network of fiduciary, fee-only advisors who work for you — and only you.

We weren’t even talking about the stock market at first. Just catching up. And then he said something that made me stop.

“Most pre-retirees don’t realize how many decisions are still affecting their money — even when they think nothing is happening.”

That stuck with me.

Because so many of the pre-retirees I talk to believe they’re invested in the simplest possible way: broad index funds, low fees, no second-guessing. Let the market work.

Imagine that’s you. You’re 62. You’ve done everything “right.” You saved consistently. You didn’t chase hot stocks or trends. You didn’t panic during downturns. Over time, you built a portfolio worth more than a million dollars, mostly invested in broad S&P 500 or total market funds at a place like Vanguard.

You don’t trade. You’re not trying to pick winning horses. You’re betting on the whole race — and for a long time, that worked very well.

But here’s the part many people haven’t revisited: “hands-off” doesn’t mean “nothing is happening.”

Even with an index fund, the index itself changes over time as companies are added, removed, or reshuffled. When a stock like Nvidia grows to represent a much bigger share of the S&P 500, your exposure to it increases automatically — without you doing anything.

When you chose a broad index strategy years ago, you made one big decision upfront: I’m going to stay fully invested, no matter what. You committed through good markets and bad ones.

That made perfect sense when retirement felt far away.

What’s changed isn’t your index fund. What’s changed is the market around it.

Markets move faster now. They react more sharply to news, fear, and momentum. A growing share of day-to-day market moves comes from investors and strategies that adjust quickly. You may not invest that way — but your index fund owns the same stocks they trade.

And that matters more as retirement gets closer.

Your index fund doesn’t slow down when markets feel expensive. It doesn’t reduce risk because you may soon need income. It doesn’t know when you plan to retire or how flexible you really are if the market drops.

It just stays invested.

That isn’t wrong or right. But it does present a choice.

As Marc put it, investing in a broad index fund doesn’t eliminate decisions — it means you made one big decision upfront, and then stopped adjusting unless you step in.

Here’s why that matters when you’re five years from retirement — or closer.

At that point, market swings aren’t just numbers on a statement. Timing matters. A sharp drop a year or two before you plan to stop working can affect how confident you feel, how flexible your plans are, and how long you’re willing to wait for a recovery.

Your index fund doesn’t know any of that. It doesn’t know when withdrawals will begin. It doesn’t know that a downturn now feels very different than one did twenty years ago.

It just stays invested.

So is “stay put” still a valid approach? Absolutely. But staying fully invested works best now when it’s paired with awareness.

This is also where it can be smart to talk with an advisor — not to change everything, and not to chase something new — but to pressure-test your thinking.

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I hear this all the time from readers who want to ask questions like:

What does staying fully invested mean for me over the next five years and beyond?
How would a sharp market drop realistically affect my retirement plans?
What would tell me that my comfort level has changed?

For a long time, investors were told the smartest thing they could do was stop thinking about their investments altogether.

At some point — especially when retirement is no longer abstract — being thoughtful again isn’t panic or second-guessing.

It’s paying attention.

Warmly,

Pam

I’ve been thinking about something a little different as we head into this year.

As much as I find it helpful to think about how I can set some goals for 2026 and break those big financial intentions into smaller, doable steps — and that does matter — there’s something else that’s been on my mind.

It’s about the people allowed into your financial life. The people closest to it. Because no matter how independent you are, none of us makes money decisions in a vacuum. There are always people in the picture — sometimes by choice, sometimes not.

You might have a spouse or partner. You might have kids in the mix. Or aging parents who influence your decisions. Or both. You might have asked a financial advisor for planning advice, to think through tax strategies, or help manage investments. Everyone plays some kind of role. Or perhaps you’re doing all of this entirely on your own.

But even if it’s just you making every financial decision, there’s an important question underneath it all. Because this only works if you’re willing to hold yourself — and the people you trust — accountable.

What do you expect of the people — including yourself — who have influence over your financial life this year?

Not what you expect the economy to do. Not what AI stocks might do this year.

But what you’re expecting from you — and from anyone you’ve given a seat at that table.

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That question matters more than most people realize, because money isn’t just numbers — it’s mostly behavior, whether you’re managing it alone or with others. In fact, many experts say that personal finance success is roughly 80% behavior and only 20% knowledge, which is exactly why expectations and accountability matter so much when you’re talking about your money and who you’re counting on to help you manage it.

I see this play out all the time in the messages people send me. When someone reaches out because something feels off — especially in a relationship with an advisor — it’s rarely because they chose the “wrong” investment. It’s almost always because expectations were never clearly set, and accountability was never part of the conversation.

Just recently, someone wrote to me saying, “We’ve been working with an advisor for a few years, but I still don’t really know what our plan is supposed to do — are we trying to lower taxes, invest and get better returns, protect our savings — or just feel more secure?” That question alone told me this isn’t about the portfolio.

It’s also why I built Wealthramp to tease out expectations upfront instead of hiring an advisor blindly and then crossing fingers it works out. It’s important to identify what someone actually wants help with, how they’ll recognize progress, and what kind of relationship they’re looking for.

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When things don’t come to fruition or turn out the way we thought, we get frustrated, disappointed, and sometimes scared. So the first place I’m starting this year is by asking:

• What am I expecting I’ll be able to accomplish by myself in 2026?

• What am I most worried about?

• What am I asking for help for – and what am I expecting others to do?

• And are these expectations likely to be met?

• Who am I holding accountable?
  

This year, I want to do better — so I’m paying closer attention to who’s in the room, and what I’m really asking of them, and of myself.

In my experience, that’s where real progress starts.

Happy New Year!

Pam

It’s a new year. You don’t need a financial makeover— just a few smart tweaks.

Even if we never say the words New Year’s resolutions out loud (I don’t love them either), our hopes seem to surface first – what we want to happen. But if I’m being honest, what really sets the tone are the assumptions we carry into the year.

It’s taken me a while to learn that before I get too far into January, it helps to look backward – not with judgment, but with perspective.

I ask myself a simple question: How did things actually play out the last time I thought about the year this way? Reconciling what I expected might happen with what really did has become one of the most useful financial habits I have. It shows me where my planning was solid — and where my thinking was unrealistic or I had blind spots. More than anything, it helps me course-correct and keep moving forward.

This time of year tends to bring those questions out into the open. I hear it all the time through my work with Wealthramp, in emails and conversations where people are describing what feels uncertain right now. Prices feel high. Job security seems shakier. The stock market is strong but unpredictable, even when the economy looks “good.”

When people reach out, they often have these concerns, and here’s how I tend to respond:

“I want to feel less stressed about money.”

Stress usually isn’t about numbers. It’s about uncertainty. Clarity helps. Knowing where your cash is, how long it could carry you, and what you’d do if something unexpected came up can calm things down faster than trying to optimize everything at once.

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“I want to feel like I’m starting to get ahead.”

This often comes down to one thing that’s been holding you back – typically high-interest debt. Pick one balance. Automate it. Progress will come from structure. One clear win here can change how you feel about everything else.

“I want to be smarter about opportunities I might be missing.”

Most people don’t need new strategies. They need to fully use the ones already available to them — employer match, catch-up contributions if you’re over 50, tax rules that actually apply to your income. These are small moves that add up once you start paying attention.

“I want my financial plan to sync up with how I’m really living (and spending).”

Sometimes the best way to learn what works is to notice what didn’t. If something fell apart last year, that’s not a personal flaw – it’s information. Use it to reset your assumptions, not abandon the goal. Financial plans tend to work best when they reflect real life, not idealized versions of ourselves.

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“I want to feel confident heading into the year.”

I’ve learned that confidence isn’t something you wait for. It’s something you build. For me, it comes from small, repeatable adjustments that create options, not from trying to get everything exactly right. Tiny, consistent changes add up over time.

One of the most important adjustments you can make has to do with the advice you rely on, especially if you’re working with a financial advisor and paying for that guidance. If you’re paying for financial advice, it should help you think more clearly and feel more prepared. That’s how you know it’s earning its place.

One more thing I’ve learned – especially when I was co-hosting MoneyTrack, our weekly series that aired nationally on PBS – is that financial stress rarely comes from one bad decision. It’s usually the result of small course corrections that never happened, until you suddenly realize how far you are from where you thought you’d be.

I’m officially out on dramatic reinventions.

If you start 2026 with a clearer view of yourself – where you tend to overestimate, underestimate, or avoid – you’re already ahead.

And that feels like the right place to start the year.

Warmly,

Pam

I was reminded of this often when I co-hosted MoneyTrack, the nationally aired PBS series, where family and financial turmoil were recurring themes every season.

These are not conversations you want to have over text or in a rushed phone call. They’re emotional and nuanced, which is why – counterintuitive as it sounds – talking about them in person sometimes makes the most sense.

That’s what makes the holidays – imperfect as they are – a surprisingly good opportunity to fill in a few missing pieces about your family’s financial picture.

With one important caveat: not everything is your business. Knowing what is – and isn’t – in your lane matters just as much as the information itself.

When family is together, there’s usually more context and more opportunity to notice things you might miss otherwise. Maybe not at the dinner table– and not as an ‘announcement’. But quietly, when the moment feels right.

If you have aging parents, a few topics matter more than people realize, and they’re much easier to address before there’s a crisis.

Where important information lives:
Not every detail – just enough to avoid chaos if someone needs to step in.

Healthcare decision-making:
Who has medical power of attorney? Does everyone understand what that means?

How things are really going financially:
Are your parents comfortable, quietly stressed, or becoming more worried they could outlive their savings? Are there small things they’re no longer doing for themselves that might signal tighter budgets or shifting priorities?

Sometimes these family money conversations don’t start with a “money talk” at all.

I remember spending the holidays with my parents in Florida and noticing their dishwasher was clearly on its last legs. Instead of making a big deal about it, I quietly pulled my dad aside and said, “I just saw a quieter model on sale that would really make Mom happy. I have credit card points I need to use, and I’d love to do that.”

It wasn’t about the dishwasher. It was about noticing the small things they weren’t doing for themselves anymore – and what that might quietly signal. You don’t need to interrogate anyone. You just need to pay attention.

The Key: Read the Room

The obvious challenge is that the holidays already come with enough emotion. Money conversations can easily tip into tension or full-blown arguments if you’re not careful.

A few things help:

• Choose the moment carefully – one-on-one, during a walk or a quiet morning.
• Lead with concern, not control.
• Don’t try to solve everything at once – awareness is enough.
• Say the awkward part out loud.
• Know when to hit pause.

A conversation that ends respectfully (even unfinished) is still a success.

All of this is easier said than done.

For me, these conversations were productive based on choosing the exact right moment. Not when anyone is tired. Not when emotions are already running high. And definitely not after a second glass of wine.

I’ve learned they go best when the spirit is light – when no one feels cornered. Sometimes that means a walk. Sometimes a quiet morning. And sometimes it means deciding today isn’t the day – and that’s okay.

If the holidays give you even one small opportunity to start, that’s enough. A little clarity now can prevent a lot of stress later, when critical decisions may be much harder and time feels urgent.

At the end of the day, this is really about taking care of the people who once took care of us.

Happy Holidays Everyone!

My message here is simple: it’s not just about how much you save anymore. It’s about how you save and invest. One of the most powerful tools you have? Roth conversions.

What Exactly Is a Roth Conversion?

All you’re doing is moving money from a traditional IRA (tax-deferred) into a Roth IRA (tax-free). You’ll pay income taxes now, but then the money grows tax-free–and you’ll never owe taxes on it again.

What you gain:

• Tax-free growth

• No taxes on withdrawals

• No required minimum distributions (RMDs)

• More control over future tax brackets

You’re choosing when to pay your taxes–before the IRS does it for you later.

When the Timing’s Right

The ideal time to consider a conversion is when you’re in a temporarily lower tax bracket–after your peak earnings years but before you start Social Security or RMDs. That’s often in your 50s or early 60s.

You may also hear that a market dip is a good time to convert. That can be true–if your investments are down, the tax bill on the conversion is smaller. But the primary driver is still your tax bracket, not market timing.

What I’ve found to be true after years of talking with people in this stage of life is this: the people who plan ahead–even just a few years–end up with less tax drag and far fewer surprises. It’s not about being perfect. It’s about being intentional.

Strategic Planning Matters

Roth conversions aren’t one-size-fits-all. They come with ripple effects many people don’t expect:

Two 5-Year Rules to Know
One rule applies to earnings on contributions. The other applies to each conversion. Withdrawing too early could mean penalties–especially before age 59½.

Medicare Premiums
Large conversions can raise your income and trigger higher Medicare premiums (IRMAA), especially in your early 60s.

College Financial Aid
A Roth conversion can raise your income and reduce your child’s eligibility for FAFSA-based aid. Timing matters.

No Takebacks
Roth conversions are permanent. If the market drops afterward, you’ll still owe tax on the higher value.

The Pro-Rata Rule
If your IRA includes pre-tax and after-tax money, any conversion is taxed proportionally. You can’t just convert the “after-tax” portion.

Charitable Giving Alternatives
If you plan to donate, a Qualified Charitable Distribution (QCD) from a traditional IRA may be more tax-efficient than converting and then gifting.

Should You Convert?

That depends on your income, age, goals, and timing. Many people convert gradually to avoid bumping into higher brackets.

Some of the most successful long-term planners I’ve met didn’t try to time the market or convert everything in one year. They took it step by step and created real flexibility. I personally believe fresh eyes can help.

That’s exactly why I built Wealthramp–after years of seeing how just one well-timed decision can change someone’s entire retirement outlook. Because it’s not just about getting ahead–it’s about staying ahead. The window you’re in right now is a chance to reduce the tax drag later, avoid nasty tax surprises in retirement, and create the kind of flexibility most people don’t realize is even possible.

Ready to Turn Clarity into Opportunity?

Don’t wait until the last minute... position yourself for 2026 with confidence. Download our free guide, 10 Tax-Smart Moves to Make Before 2026, where Wealthramp-network advisors Jeff Chan, CFP®, EA, and Meghan Muñoz, CFP®, CPA, CDFA®, share strategies they’re using with their clients right now to reduce taxes, protect wealth, and create flexibility in retirement.

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This is personal for me. Some of my closest friends have pulled me aside and admitted they feel behind. They worry it’s “too late” to fix it. They don’t tell their families. And the message I always share is the same: don’t let fear stop you from taking smart action now.

Four Moves That Make a Difference

1. Catch-Up Contributions Give You a Real Edge

If you’re 50 or older, you’re allowed to contribute more to your retirement accounts–and this is one of the smartest ways to accelerate your savings.

For 2025, the IRS lets you contribute up to $30,500 to a 401(k), including a $7,500 catch-up. You can also put up to $8,000 into an IRA if you’re eligible. And if you’re self-employed, options like a Solo 401(k) or SEP IRA may allow you to contribute even more.

This is a big deal. If you consistently max out those catch-up contributions over 10 years, you could potentially add hundreds of thousands of dollars to your nest egg–plus investment growth.

2. Get Rid of High-Interest Debt

Every dollar you put toward a credit card with a 20% interest rate is exactly the same as earning a 20% guaranteed return. That’s why paying off high-interest debt is one of the most powerful and underrated financial moves you can make in your 50s.

Eliminating this kind of debt not only boosts your net worth–it also frees up more cash for investing and lowers the financial pressure heading into retirement.

3. Make Sure Your Investments Match Your Lifestyle

This is where people often get tripped up. Just because you’re getting older doesn’t mean you need to dump all your stocks or suddenly go ultra-conservative. What you really need is an investment strategy that aligns with your actual goals and income needs–not just your age.

How long do you want your money to last? When will you start drawing income? Are you planning to keep working part-time or downsize? These questions shape your portfolio far more than a generic target date fund.

This is also a moment when a great fiduciary advisor can make a huge difference–helping you create a smart glide path that balances growth and stability.

4. Automate and Simplify Your Savings

Don’t underestimate the power of small, steady actions. A $500 monthly contribution to an IRA or brokerage account can grow to more than $100,000 in 10-12 years.

The easiest way to stick with it? Automate it. Set up recurring transfers and let the system do the work. Automation turns intention into action–and over time, that builds serious momentum.

Have questions about your financial situation? Take my 2-min survey.

Here’s the Bigger Picture

According to Vanguard, the average 55–64 year-old has about $189,000 saved for retirement. That’s far below what many people think they’ll need. But that number doesn’t define you. Your saving rate, your spending habits, your debt load, and your ability to make intentional changes now will have a much bigger impact.

The people I see succeed didn’t all start early. They just stopped stalling. They made small course corrections–and they stuck with them.

You don’t need perfect timing. You need a plan. You need consistency.

And you need to believe that starting late can still mean starting strong.

I’ve seen it happen over and over.

If you’re reading this because you’re preparing for that first conversation — or thinking about it — you’re already doing something powerful: you’re taking ownership of your financial life.

When you’re ready, Wealthramp is here with a curated network of fiduciary, fee-only advisors who work for you and only you.

You can explore matches quietly and privately anytime.

Find your advisor match

But “fee-only” is different. This term actually matters. Because it’s not just another label, it’s a signal that means this advisor must act in the capacity of a fiduciary. And fee-only advisors are legally required to do that, 100% of the time.

Fee-only means they work only and directly for you instead of getting paid to sell investments for somebody else. Not a brokerage firm. Not an insurance company. Just you.

You’ll want to know when an advisor earns money only from their clients, and not from product commissions or sales incentives. Their loyalty isn’t split. They have one job: to give you advice that’s in your best interest. Period.

Have questions about your financial situation? Take my 2-min survey.

How Do You Pay a Fee-Only Advisor?

Let me start here: fee-only doesn’t mean free, it doesn’t mean bargain basement, and it definitely doesn’t mean the clock starts ticking the moment you say hello. Fee-only advisors might not be the cheapest option, but when the pricing is tied to the scope of work, the value is clear. You’re paying for time, expertise, and planning that’s built around your needs. And you’re not paying for sales pitches or hidden commissions.

What you pay a fee-only advisor should reflect the time and complexity of the work involved. Like other professions, not all hours are equal. You’re paying for experience and judgment, not just time on a clock. Especially when you’re working with someone who specializes in things like taxes, retirement income, real estate, estate planning, private investments, or equity comp.

Many fee-only Registered Investment Advisors apply the traditional assets under management (AUM) model, typically just under 1%, and lower as your portfolio grows. But many (and especially those in my Wealthramp network) offer what I like to call “scope of work” pricing. That means your fee depends on what you need help with, not just your assets and how much you have invested.

In practice, this can include:

• Flat fees for a specific project

• Hourly rates for limited guidance

• Ongoing retainers or subscriptions for continued access to advice across your full financial life

I’m actively pushing for more fee-only advisors to move beyond the AUM-only approach. Because for me, flexibility is the key. It gives you more choice in how you engage, and more transparency in how you’re charged.

Why This Matters

By the time someone finds their way to a true fee-only fiduciary, they’ve usually been through the opposite. And by that I mean advice that felt vague, overly salesy, or just not aligned with their life.

What happens next is pretty powerful. They tell me they feel seen. Heard. Clear on what they’re paying and why.

Working with the right advisor is 100% about having someone you trust, who shows up with clarity and purpose, and uses their expertise to help you move forward with real confidence.

And that, in my experience, is worth every penny.

Find the Right Fee-Only Advisor

Still confused? Watch my short video.