Lifetime Financial Group

The Anatomy of an Index

Teresa McAllister — Fri, 03 Apr 2026 15:00:00 +0000

Did you know that over $20 trillion in assets are indexed or benchmarked to the Standard & Poor’s 500 Composite Index, including over $13 trillion in indexed assets?^1,2

The S&P 500 is ubiquitous – we see it on the news, read about it in the newspapers, and, very likely, see some of our own investments’ performance compared against it. For an index that represents approximately 80% of the value of the U.S. equity market, it may be worthwhile to gain a better understanding of how it works.³

Cap & Criteria

The index, as we know it today, was introduced in 1957 and is maintained by the Standard & Poor’s Index Committee. Contrary to popular belief, it is not comprised of the 500 largest companies in America, but is a collection of large-cap stocks representing a broad range of market sectors, including technology, energy, health care, and consumer staples, among others.⁴

There are a number of criteria a company must meet to be considered for inclusion in the index. Some of these criteria include the following: it must be a U.S. company, have an unadjusted market capitalization of $22.7 billion or more, have 50% of its stock available to the public, and have four consecutive quarters of positive earnings.⁵

Changes Over Time

Another common misconception is that the index is a static one. In fact, companies will be removed, from time to time, for reasons that include violation of one or more of the criteria used for adding companies or because of a merger, acquisition, or significant restructuring, including bankruptcy.

The turnover in the index’s constituent companies was 3.2% in 2021 (per the most recent data available). According to one projection, the average tenure of companies in the index is expected to fall to 15-20 years this decade, as compared to the 30-35 year average tenure in the late 1970s.⁶

Add and Subtract

When changes are made to the index, many mutual funds and exchange-traded funds that seek to replicate the index may have to sell stocks that are being removed and buy the stocks that are being added in order to track the index. Keep in mind that amounts in mutual funds and ETFs are subject to fluctuation in value and market risk. Shares, when redeemed, may be worth more or less than their original cost.⁷

Mutual funds and exchange-traded funds are sold only by prospectus. Please consider the charges, risks, expenses, and investment objectives carefully before investing. A prospectus containing this and other information about the investment company can be obtained from your financial professional. Read it carefully before you invest or send money.

Investors cannot invest in an index. Also, index performance is not indicative of the past performance of a particular investment, and past performance does not guarantee future results. Investment choices designed to replicate any index may not perfectly track it, and their returns will be reduced by fees and expenses.

1. SPGlobal.com, March 25, 2026
2. The S&P 500 Composite index (total return) is an unmanaged index that is generally considered representative of the U.S. stock market. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results.
3. Investopedia.com, November 7, 2025
4. Wikipedia.com, March 25, 2026
5. SPGlobal.com, February 2026
6. Innosight.com, March 25, 2026 (based on a landmark 2021 report, the most recent data available)
7. Keep in mind that the return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

A Home Insurance Claim: To File Or Not To File

Teresa McAllister — Wed, 25 Mar 2026 14:24:21 +0000

Insurance is meant to protect you against financial loss. But is it really meant to protect you from any and all financial loss? When it comes to filing a loss claim on your home insurance, there may be times when not filing may be the wisest course of action.¹

According to one study, the national average premium increase after filing a homeowners insurance claim is 9%, although this number varies depending on your specific location.²

What About My Premium?

Some insurance companies may protect you against premium increases. However, if filing a claim means your premium will rise, you may need to decide whether it makes sense to do it.

It may not pay to file a claim if:

The claim amount is small. Your policy will have a deductible, so even claims of $1,000 to $2,000 may not have a favorable long-term cost benefit.
You’re not covered for a loss. Read your policy first to determine coverage. The simple act of filing a claim (even for a claim that won’t be paid) may result in higher premiums.
You have filed a claim within the last seven years. Since previous claims are tracked by an industry database for seven years, it may result in higher premiums.

Another factor to consider: you may want to file a claim regardless of dollar amount if someone is injured on your property, in order to protect yourself in the event that you are sued by the injured party.

1. Several factors will affect the cost of homeowners insurance, including the location, size, and contents in the home. You should consider the amount of your deductible and level of coverage before purchasing a policy. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.
2. InsuranceQuotes.com, 2025

What Can You Buy With 529 Distributions?

Teresa McAllister — Mon, 16 Mar 2026 15:01:26 +0000

Some of the biggest challenges many face when it comes to education are financial. Luckily, a 529 college savings plan can help. And they’re not just for college anymore – added to the tuition eligibility are K-12, private, and religious schools. These funds can also be used for four and two-year colleges, trade schools, graduate programs, and some international institutions.

A 529 plan is a college savings plan that allows individuals to save for college on a tax-advantaged basis. State tax treatment of 529 plans is only one factor to consider prior to committing to a savings plan. Also, consider the fees and expenses associated with the particular plan. Whether a state tax deduction is available will depend on your state of residence. State tax laws and treatment may vary. State tax laws may be different from federal tax laws. Earnings on non-qualified distributions will be subject to income tax and a 10% federal penalty tax.

Here’s a list of 529 qualified educational expenses:

Educational Strategy

To take advantage of the 529 distribution for educational costs, you must submit your request for the funds during the same calendar year. If you request cash during the academic year, you may end up owing taxes as a non-qualified withdrawal.

Higher Education – Post-secondary students (after high school) are eligible to participate in the federal student aid program administered by the U.S Department of Education and qualify for the use of 529 funds.
Vocational or Trade School – Culinary students can draw from their 529 accounts to pay expenses related to culinary institute courses. The institution must participate in the U.S Department of Education for federal student aid.
Early Education – K-12 schools, public, private, and religious institutions can now use 529 plan distributions up to $20,000 per student for tuition.

Lifestyle and School Supplies

Learning how best to use your 529 distributions while establishing a manageable budget for qualified and non-qualified purchases can be tricky. Here are some tips to keep in mind.

Housing – Campus housing can be paid through 529 distributions, including college room and board fees. Off-campus housing rentals qualify up to the same cost of the room and board on campus.
Books and Supplies – paper, pens, and textbooks required by the specific course are qualified expenses. Schools set the budget limit for books and supplies.
Needs and Services – Special needs equipment and services qualify for 529 distribution. Students using equipment for mobility may be eligible for 529 distribution purchases. Depending on the circumstances, other modes of transportation may also apply.

Welcoming Technology

Finally, many don’t realize that computers and some electronics are included on the list of qualified education expenses. Keep in mind that these items must be required as part of the students’ study programs to qualify.

Personal Computer – Computers must be used primarily by the student during any of the years the student is enrolled at the eligible educational institution.
Software – software may qualify as a 529 distribution expense, but only if it’s used by the student and required by a class. For example, technical engineering or design classes may involve computerized assignments.
Internet – Lastly, under certain circumstances, internet services can be paid for using 529 funds. Check with your internet service provider (ISP) for more details.

The above tips are sure to help get you started, but make sure to check with the school as well as chat with your financial professional to learn more. As mentioned earlier, each state and school may have different restrictions on using 529 funds. If you are unsure about anything, your plan sponsor may be able to provide some guidance. The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Investment Challenges of the Affluent Investor

Teresa McAllister — Thu, 05 Mar 2026 14:51:22 +0000

High net worth investors face investment challenges that some would consider unique to their financial status. The fundamental tenets of investing apply equally to them as with any other investor, but the affluent investor needs to be mindful of issues that typically arise only from substantial wealth.

Let’s examine a few of these.

Being Too Conservative – When an individual has more assets than they think they’ll ever spend, there can be a tendency toward conservative investment. This may result in lower long-term returns that may shortchange the impact of bequests to charities or the wealth that will transfer to the next generation.

Collectibles – The affluent have a tendency to invest in their passions, and many collectibles have performed well over the years. However, one common mistake is not keeping up-to-date appraisals on record, which may have adverse consequences with regard to estate liquidity and taxes.¹

Concentrated Equity – Some senior executives accumulate large stock positions in the company that employs them. This creates a unique risk and potentially can be managed in several ways.²

DIY Mentality – Some wealthy investors have achieved a high level of success in their careers, in large measure due to their intelligence, hard work, and self-confidence. This very success often carries over to the belief that building or managing successful enterprises is not dissimilar to managing great wealth. But it can be quite different, requiring a whole different body of knowledge and experience.

Too Many Professionals – Affluent investors often place their investment assets with multiple professionals, thinking that better results will arise from that. However, many of the key needs for larger portfolios, such as risk management and tax efficiency, will suffer since there is no overarching view into the larger picture of an individual’s entire portfolio. The independent actions by separate professionals, all with the best of intentions, may actually work to suboptimal outcomes.

With increasing wealth come even more unique challenges beyond those covered by this discussion. Consequently, affluent investors are encouraged to seek professional guidance that may be best suited for their particular needs and circumstances.

1. The value of collectibles can be significantly affected by a variety of factors, including economic downturns or markets that have little or no liquidity. There is no guarantee that collectibles will maintain their value or purchasing power in the future.
2. Keep in mind that the return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.

A Path to Serenity and Smart Money Choices

Teresa McAllister — Mon, 23 Feb 2026 15:34:10 +0000

In today’s fast-paced world, financial stress has become a part of life for some. The anxiety and pressure associated with money matters can create a vicious cycle, affecting both mental and physical health. However, there may be a pathway through this chaos: mindfulness and meditation. These ancient practices not only offer a chance to reflect but also may provide a more straightforward approach to financial decision-making, which could foster long-term financial wellness.^1,2

What is the Connection Between Financial Stress and Mental/Physical Health?

Financial stress is a source of anxiety for some, impacting sleep, relationships, and overall well-being. According to the most recent Stress in America survey by the American Psychological Association, a majority of adults identified inflation, the economy, and financial concerns as sources of stress. Chronic financial stress can lead to health problems. Individuals experiencing financial strain often neglect preventive health measures due to cost, which can exacerbate their physical health issues.³

Tools for Managing Financial Anxiety

Mindfulness is the practice of being fully present and engaged in the moment, without judgment. It involves tuning into experiences, focusing on the present, and observing thoughts and feelings without reacting to them. When applied to finances, mindfulness encourages people to be aware of their spending habits and emotional triggers, aligning their financial actions with their values and goals, which can lead to more satisfying and sustainable economic health.

Meditation, often practiced alongside mindfulness, involves sitting quietly and paying attention to thoughts, sounds, and bodily sensations. Integrating meditation into daily routines might help manage stress and enhance concentration, providing a valuable refuge for people dealing with financial stress. Just a few minutes a day might help clear the mind, improve focus, and manage anxiety, enabling the handling of monetary matters with a calm, composed mind.

Practical Ways to Include These Practices:

Daily Meditation: Start with five minutes a day in a peaceful spot, focusing on your breath. If financial worries arise, gently redirect your attention back to your breathing.
Mindful Budgeting: Before making financial decisions, pause and assess your motivations. Are you adhering to a budget, or are emotions influencing your choices? This practice can help avoid unnecessary expenses.
Reflective Journaling: Maintain a journal documenting your financial decisions and the emotions they evoke. This exercise can help reveal patterns and triggers in your spending habits, aiding in more effective financial management.
Educational Workshops: Some communities offer free stress management workshops, equipping individuals with tools and knowledge to help with financial management.

Mindfulness and Meditation in Action

Consider a scenario where mindfulness helps combat impulse purchases. By staying present and aware, individuals can make values-based financial choices rather than succumb to the allure of FOMO (fear of missing out) or unhealthy comparisons. Similarly, meditation can be invaluable during life transitions, such as career changes or retirement, helping manage financial issues with more clarity and composure.

How Mindfulness Works

Mindfulness works by dialing down the body’s stress response, which can impair the immune system and exacerbate health problems. By influencing stress pathways in the brain, mindfulness changes brain structures and activity related to attention and emotion regulation. This shift can enable individuals to respond more effectively to stress, including financial stress, by cultivating a more open and less reactive mindset.

How Does One Get Started?

Learning mindfulness is more accessible than ever, with classes and interventions available in various settings, including online platforms and smartphone apps. While it may take time for mindfulness meditation to feel natural, consistent practice can transform it into a powerful tool for relieving stress and enhancing overall well-being.

Embracing mindfulness and meditation doesn’t entirely eliminate financial challenges, but these practices can provide a robust framework for managing financial stress more healthily and productively. They empower individuals to make thoughtful decisions and ultimately gain control over their financial well-being. Start small, be consistent, and watch as mindfulness and meditation transform your financial life and beyond.

1. American Psychological Association, October 30, 2019
2. First Commonwealth Federal Credit Union, November 25, 2025
3. Headspace.com, January 13, 2025

A Checklist for When a Spouse or Parent Passes

Teresa McAllister — Fri, 13 Feb 2026 15:32:19 +0000

When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a checklist that you may find useful at such a time.

First, gather documents. Ask for help from other family members if you need it. Start by gathering the following.

A will, a trust, or other estate documents. If none of these exist, you could face a longer legal process when settling the person’s estate.
A Social Security card/number. Generally, the person’s Social Security number will be retired shortly following the death. If you are uncertain, consider checking with the Social Security office.

Then, gather these additional highly important items.

Any account statements
Deeds/titles to real estate
Car titles or lease agreements
Storage space keys/account records
Any bills due or records of credit card statements
Any social media platform information, if applicable

Last, but not least, look for a computer file or printout with digital account passwords. Prior to their loved one’s passing, some family members may try to centralize all this information or state where it can be found.

In addition, see if the person left a letter of instructions. A letter of instructions is not a legal document; it’s a letter that provides additional and more-personal information regarding an estate. It can be addressed to whomever you choose, but typically, letters of instructions are directed to the executor, family members, or beneficiaries.

Next, take care of some immediate needs. One, contact a funeral home to arrange a viewing, cremation, or burial, in accordance with the wishes of the deceased.

Two, call or email the county clerk or recorder to request 10 to 12 death certificates; a funeral home director can often help you with this matter. (Counties usually charge a small fee for each copy issued.) Ten to 12 copies may seem excessive, but you may need that many while working with insurance companies and various financial institutions.

Three, if the person was still working, contact the human resources officer at your loved one’s workplace to inform them what has happened. The HR officer might need you to fill out some paperwork pertaining to retirement plans, health benefits, and compensation for unused vacation time.

Four, consider speaking with an attorney – this can be the lawyer who helped your loved one create a will or estate plan. Should your loved one die without a will, you may want to contact a lawyer for an overview of how the probate process will work and see to what degree you might become liable if your loved one had any outstanding debt obligations.

Five, resolve to keep track of any recurring debts that your loved one had set to autopay. Consider placing the monthly bills for these debts in your name (or another family member or the executor).

Notify creditors and credit card companies that were part of your loved one’s credit history. Creditors may want to know when existing debts will be paid, either by you or your loved one’s estate. You can also notify the “big three” credit bureaus – Experian, Equifax, and TransUnion – of their passing, which can usually be done online, over the phone, or by letter.

Following these steps, address financial, insurance, and credit matters. Investment and retirement plan accounts and insurance policies should have beneficiaries, so reach out to the financial and insurance professionals who helped your loved one as well as the person overseeing their workplace retirement plan. Talk with these professionals to learn about the possible tax implications from inheriting these assets.

State and federal taxes for your loved one will also need to be paid, and possibly, other taxes for the year of their death.

Remember, this article is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your any tax or estate strategy.

If your loved one owned a small business or professional practice, a discussion with business partners (and clients) may be necessary as well as a consultation with the attorney who advised that business.

Look after your future. Working through several of these issues may help bring closure to your loved one’s estate.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Insurance Needs Assessment: Married With Children

Teresa McAllister — Tue, 03 Feb 2026 15:49:35 +0000

A growing family, by definition, means growing financial obligations—both present and in the future. Raising children can increase your insurance needs and heightens the urgency for being properly prepared.

Auto

When a child becomes a new driver, one choice is to add the teenager to the parents’ policy. You may want to discuss with your auto insurer ways to reduce the additional premium that accompanies a new driver.

Home

You should periodically review your homeowners policy for three primary reasons.

A growing family generally accumulates increasing amounts of personal belongings. Think of each child’s toys, clothes, electronic equipment, etc. Moreover, household income tends to rise during this time, which means that jewelry, art, and other valuables may be among your growing personal assets.

The second reason is that the costs of rebuilding—and debris removal—may have risen over time, necessitating an increase in insurance coverage.

Lastly, with growing wealth, you may want to raise liability coverage, or if you do not have an umbrella policy, consider adding it now. Umbrella insurance is designed to help protect against the financial risk of personal liability.

Health

With your first child, be sure to change your health care coverage to a family plan. If you and your spouse have retained separate plans, you may want to evaluate which plan has a better cost-benefit profile. Think about whether now is the appropriate time to consolidate coverage into one plan.

Disability

If your family is likely to suffer economically because of the loss of one spouse’s income, then disability insurance serves an important role in replacing income that may allow you to meet living expenses without depleting savings.

The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

If you already have disability insurance, consider increasing the income replacement benefit since your income and standard of living may now be higher than when you bought the policy.

Life

With children, the amount of future financial obligations increases. The cost of raising children and funding their college education can be expensive. Should one of the spouses die, the loss of income might severely limit the future quality of life for your surviving children and spouse. Not only does death eliminate the future income of one spouse permanently, but the future earning power of the surviving spouse might be diminished as single parenthood may necessitate fewer working hours and turning down promotions.

The amount of life insurance coverage needed to fund this potential financial loss is predicated on, among other factors, lifestyle, debts, age and number of children, and anticipated future college expenses.

Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

Some couples decide to have one parent stay at home to care for the children full time. The economic value of the stay-at-home parent is frequently overlooked. Should the stay-at-home parent die, the surviving parent would likely need to pay for a range of household and child-care services and potentially suffer the loss of future income due to the demands of single parenthood.

Extended Care

The earlier you consider extended-care choices the better. However, the financial demands of more immediate priorities, like saving for your children’s college education or your retirement, will take precedence if resources are limited.

^{The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.}

Choices for Your 401(k) at a Former Employer

Teresa McAllister — Fri, 23 Jan 2026 16:46:23 +0000

One of the common threads of a mobile workforce is that many individuals who leave their jobs are faced with a decision about what to do with their 401(k) account.¹

Individuals have four choices with the 401(k) account they accrued at a previous employer.²

Choice 1: Leave It with Your Previous Employer

You may choose to do nothing and leave your account in your previous employer’s 401(k) plan. However, if your account balance is under a certain amount, be aware that your ex-employer may elect to distribute the funds to you.

There may be reasons to keep your 401(k) with your previous employer —such as investments that are low-cost or have limited availability outside of the plan. Other reasons are to maintain certain creditor protections that are unique to qualified retirement plans or to retain the ability to borrow from it if the plan allows for such loans to ex-employees.³

The primary downside is that individuals can become disconnected from the old account and pay less attention to the ongoing management of its investments.

Choice 2: Transfer to Your New Employer’s 401(k) Plan

Provided your current employer’s 401(k) accepts the transfer of assets from a pre-existing 401(k), you may want to consider moving these assets to your new plan.

The primary benefits of transferring are the convenience of consolidating your assets, retaining their strong creditor protections, and keeping them accessible via the plan’s loan feature.

If the new plan has a competitive investment menu, many individuals prefer to transfer their account and make a full break with their former employer.

Choice 3: Roll Over Assets to a Traditional Individual Retirement Account (IRA)

Another choice is to roll assets over into a new or existing traditional IRA. It’s possible that a traditional IRA may provide some investment choices that may not exist in your new 401(k) plan.⁴

The drawback to this approach may be less creditor protection and the loss of access to these funds via a 401(k) loan feature.

Remember, don’t feel rushed into making a decision. You have time to consider your choices and may want to seek professional guidance to answer any questions you may have.

Choice 4: Cash out the account

The last choice is to simply cash out of the account. However, if you choose to cash out, you may be required to pay ordinary income tax on the balance plus a 10% early withdrawal penalty if you are under age 59½. In addition, employers may hold onto 20% of your account balance to prepay the taxes you’ll owe.

Think carefully before deciding to cash out a retirement plan. Aside from the costs of the early withdrawal penalty, there’s an additional opportunity cost in taking money out of an account that could potentially grow on a tax-deferred basis. For example, taking $10,000 out of a 401(k) instead of rolling over into an account earning an average of 8% in tax-deferred earnings could leave you $100,000 short after 30 years.⁵

1. In most circumstances, you must begin taking required minimum distributions from your 401(k) or other defined contribution plan in the year you turn 73. Withdrawals from your 401(k) or other defined contribution plans are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty.
2. FINRA.org, 2026
3. A 401(k) loan not paid is deemed a distribution, subject to income taxes and a 10% tax penalty if the account owner is under 59½. If the account owner switches jobs or gets laid off, any outstanding 401(k) loan balance becomes due by the time the person files his or her federal tax return.
4. In most circumstances, once you reach age 73, you must begin taking required minimum distributions from a Traditional Individual Retirement Account (IRA). Withdrawals from Traditional IRAs are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty. You may continue to contribute to a Traditional IRA past age 70½ as long as you meet the earned-income requirement.
5. This is a hypothetical example used for illustrative purposes only. It is not representative of any specific investment or combination of investments.

Prevent a Rift: Money Tips for Newlyweds

Teresa McAllister — Wed, 14 Jan 2026 15:45:31 +0000

One survey found that 35% of couples attribute stress in their relationship to financial issues. This could explain why some experts say financial problems are one of the top reasons marriages fail.^1,2

Fortunately, when couples work together to address their finances, they may be able to mitigate many of the problems money may cause in a marriage.

10 Tips for Newly Married Couples

Communication – Couples should consider talking about their financial goals, memories, and habits, as each partner may come into the marriage with fundamental differences in experiences and outlooks driving their behaviors.
Set Goals – Setting goals establishes a common objective that both partners become committed to pursuing.
Create a Budget – A budget is an exercise for developing a spending and savings plan that is designed to reflect mutually agreed-upon priorities.
Set the Foundation for Your Financial House – Identify assets and debts. Look to begin reducing debts, while building your emergency fund.
Work Together – By sharing the financial decision-making, both spouses are vested in all choices, reducing the friction that can come from a single decision-maker.
Set a Minimum Threshold for Big Expenses – While possessing a level of individual spending latitude is reasonable, large expenditures should only be made with both spouses’ consent. Agreeing to a purchase amount should require a mutual decision.
Set Up Regular Meetings – Set aside a predetermined time once or twice a month to discuss finances. Talk about budgeting, upcoming expenses, and any changes in circumstances
Update and Revise – As a newly married couple, you may need to update the beneficiaries on your accounts, reevaluate your insurance coverage, and revise (or create) your will.³
Love, Trust, and Honesty – Approach contentious subjects with care and understanding, be honest about money decisions you know your spouse might be upset with, and trust your spouse to be responsible with handling finances.
Consider Speaking with a Financial Professional – A financial professional may offer insights to help you work through the critical financial decisions that all married couples face.

1. CNBC.com, May 9, 2023
2. Investopedia.com, June 10, 2023
3. When drafting a will, consider enlisting the help of a legal, tax, or financial professional who may be able to offer additional insight, especially if you have a large estate or complex family situation.

Helpful Retirement Strategies for Women

Teresa McAllister — Mon, 05 Jan 2026 18:29:31 +0000

Preparing for retirement can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from the workforce. One study estimates that 66% of caregivers are women. Women who are working also tend to put less money aside for retirement. According to one report, women contribute 43% less to their retirement accounts than men.^1,2

These numbers may seem overwhelming, but with a little foresight, you can start taking steps now that may help you in the long run. Here are three steps to consider that may put you ahead of the curve.

1. Talk about money. Nowadays, discussing money is less taboo than it’s been in the past, and it’s crucial to taking control of your financial future. If you’re single, consider writing down your retirement goals and keeping them readily accessible. If you have a partner, make sure you are both on the same page regarding your retirement goals. The more comfortably you can talk about your future, the more confident you may be to make important decisions when they come up.

2. Be proactive about your retirement. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your retirement accounts stand today? Being proactive with your retirement accounts allows you to create a goal-oriented roadmap. It may also help you adapt when necessary and continue your journey regardless of things like relationship status or market fluctuations.

3. Make room for your future in your budget. Adjust your budget to allow for retirement savings, just as you would for a new home or your dream vacation. Like any of your other financial goals, you may find it beneficial to review your retirement goals on a regular basis to make sure you’re on track.

Retirement may look a little different for women, but with the right strategies – and support – you’ll be able to live the retirement you’ve always dreamed of.

1. Caregiver.org, 2023
2. TRowePrice.com, March 13, 2023 The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.