Review your legacy approach regularly, particularly following significant life events or legislative updates.

Once an estate strategy is in place, it should only require periodic reviews to check that it still reflects your wishes. However, life events such as marriage, divorce, births, deaths, relocations, health changes, business sales, and changes in tax law may prompt you to reconsider part of your overall strategy.

The world of estate strategies is changing, as covered in the Trust & Will 2025 Estate Planning Report. Did you know:

  • While 83 percent of Americans acknowledge the importance of their estate, only 31 percent have established a will.1
  • Almost one in four Millennials and Gen Zers prefer trusted friends or professionals over family members, selecting them as executors and guardians.1
  • Financial anxiety, as 49 percent of Americans are more worried about their economic future than they were a year ago.1
  • Inflation, with 78 percent of Americans reporting that it has made pursuing their life goals more difficult.1

These statistics underscore the need for everyone, regardless of their economic level, to maintain an estate strategy that reflects their current needs.

Here are some general guidelines, although everyone has unique financial circumstances. You might want to update your strategy in case of:

  • Marriage or divorce within your family or heirs
  • Births, adoptions, and deaths
  • Any relocation, especially if you’re contemplating a move to another state, as laws might have subtle differences

Here are some other reasons to update your estate strategy:

  • You’re experiencing a health change
  • You are considering the sale of a business and want to update how the assets will be handled in your estate strategy
  • Changes in federal tax law
  • Changes in state tax law, including inheritance tax law
  • You have decided to change your beneficiaries

If it’s been a while, are you confident that your estate strategy proactively addresses potential challenges, seizes new opportunities, and optimizes the distribution of your assets according to your wishes? Many individuals will hold a family meeting to explain the estate’s structure and their decisions regarding it.

Estates are complicated. Getting started with online tools can be a great first step. But you might want to work with an estate professional who can ask you tough questions.

1. Trust & Will 2025 Estate Planning Report, 2025.
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.

An article about meditation, mindfulness, and financial well-being.

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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
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.

Use this handy calendar to remember the year’s most important financial dates.

JANUARY: Get ready for a brand new year.

  • Write down the major financial events you anticipate in the next few years. That will help guide a discussion about whether your portfolio reflects your short- and long-term goals.
  • Update your personal net worth to account for any significant changes in the past year.
  • Double-check your employer-sponsored retirement plans. When determining how much to contribute, make certain to check whether your employer offers a matching program.

FEBRUARY: This month, don’t forget your financial check-up.

  • Take a moment to check on your various insurance programs and coverage amounts. Draw up a list of questions if you believe they no longer reflect your lifestyle.
  • Create a list of your top-three major expenses scheduled for the year.
  • Take a minute and create a list of your monthly subscription services.

MARCH: Spring into spring.

  • You should have received most of your tax documents by now. Start organizing your important documents so you can complete your federal and state returns.
  • Check your credit report. All U.S. Citizens are entitled to a free copy of their credit report every 12 months from the national credit reporting agencies.

APRIL: Tax time is the right time.

  • Tax returns are typically due before midnight of April 15. If you need to request a six-month extension, you still need to pay any taxes due by April 15.
  • April 15 is also the last day to contribute to most retirement accounts for the prior year.
  • Don’t forget that first-quarter estimated income tax payments are due by April 15.

MAY: It’s summertime, and financial prep is easy

  • Create or update your home and personal property inventory. Use your phone and reliable digital-backup service to record and store videos of your valuable possessions.
  • Take a look at your estate strategy, and see if it continues to reflect your family’s wishes. Were there any marriages or divorces in the past year? Did your family welcome a new child or grandchild?

JUNE: We’re halfway to next year.

  • Take a look at your “sources and uses” of money. Is it what you expected, or are you considering making adjustments?
  • Don’t forget second-quarter estimated income tax payments are due by June 15.

JULY: Review the year so far.

  • Refresh your money skills. Add at least one book on personal finance, economics, or investing to your summer reading list.
  • Look back at the last 6 months. Are there any financial takeaways you can apply to the remainder of the year?

AUGUST: It’s time to go back to school.

  • As children or grandchildren get ready for school, create a strategy to help pay for the expenses. There are a number of educational funding choices, and one may be a fit for your situation.

SEPTEMBER: Sweater weather has arrived.

  • Most companies begin “open enrollment” for their insurance plans in the following months. Prepare now by looking at your current health plan and considering whether it meets your needs. Open enrollment for Medicare starts in November.
  • Check your credit card benefits and points earned. With holidays around the corner, you may be due a deal.
  • Don’t forget third-quarter estimated income tax payments are due by September 15.

OCTOBER: Don’t forget to prepare for trick-or-treaters.

  • If you have children off to college next year, the Free Application for Federal Student Aid (FAFSA) window opens once again on October 1. Encourage your child to complete the FAFSA as early as possible to increase their chances at available scholarships and grants.
  • File your income tax return by October 15 if you requested a six-month extension back in April.
  • If you want to establish a retirement plan outside of your work-sponsored program, you must open the account by your tax filing deadline plus any extensions, which is October 15 for most.
  • Medicare open enrollment begins, providing your opportunity to drop or switch plan coverage.

NOVEMBER: The perfect month to give thanks.

  • Review your charitable giving and update any funding strategies, if needed.
  • Watch for capital gains payouts. Investment companies typically distribute capital gains in December, and by November, they usually publish estimates of their distributions.
  • Healthcare.gov open enrollment begins, Medicare Part A and B premiums and deductibles announced.

DECEMBER: End the year full of ope and goodwill.

  • If you’re 73 or older, don’t forget to take your annual required minimum distribution (RMD) by December 31.
  • You can request an annual Social Security Statement. Compare your earnings record against your old tax returns for accuracy. This is also an excellent time to check for other irregularities to prevent identity theft.
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.

When selecting a mortgage, one of the most critical choices is between a fixed or variable interest-rate mortgage.

Buying a home is the single-largest financial commitment most people ever make. And sorting through mortgages involves a lot of critical choices. One of these is choosing between a fixed or variable interest rate mortgage.

True to its name, fixed-rate mortgage interest is “fixed” throughout the life of the loan. In contrast, the interest rate on a variable-interest rate loan can change over time. The mortgage interest rate charged by a variable loan is usually based on an index, which means payments could move up or down, depending on prevailing interest rates.1

Fixed-rate mortgages have advantages and disadvantages. For example, rates and payments remain constant despite the interest rate climate. But fixed-rate loans generally have higher initial interest rates than variable-rate mortgages; the financial institution may charge more because if rates go higher, it may lose out.

If prevailing interest rates trend lower, a fixed-rate mortgage holder may choose to refinance, and that may involve closing costs, additional paperwork, and more.1

With variable-rate mortgages, the initial interest rates are often lower because the lender is able to transfer some of the risk to the borrower; if prevailing rates go higher, the interest rate on the variable mortgage may adjust upward as well. Variable-rate mortgages may allow borrowers to take advantage of falling interest rates without refinancing.1

One of the biggest advantages variable-rate mortgages offer can be one of their biggest disadvantages as well. Rates and payments are subject to change, and they can rise over the life of the loan.
Should you choose a fixed or variable mortgage? Here are four broad considerations:

First, how long do you plan to stay in the home? If you plan on living in the home a short time before selling it, you may want to consider a variable-rate mortgage. With a shorter time frame, the loan will have less time to move up or down.

Second, what’s happening with interest rates? If interest rates are below historic averages, it may make sense to consider a fixed rate. On the other hand, if interest rates are above historic averages, it may make sense to consider a variable-rate loan. Then, if interest rates decline, your interest rate may fall as well.

Third, under what conditions can the lender adjust the rate and payment? How frequently can it be adjusted? Is there a limit on how much it can be adjusted in each period? Is there a lifetime limit on how high the interest rate and payment can be raised?

And fourth, could you still afford your monthly payment if interest rates were to rise significantly? How would it affect your finances if your payment were to rise to its lifetime limit and stay there for an extended period?

For most, buying a home is a major commitment. Selecting the most appropriate mortgage may make that long-term obligation more manageable.

1. Investopedia.com, July 19, 2024

Average Interest Rate: 30-Year, Fixed-Rate Mortgages

According to the Federal Reserve Bank of St. Louis, the annual rate on the 30-year fixed-rate mortgage was 6.63 percent (as of February 2024).

Source: FRED.StLouisFed.org, 2025. For the period between January 2004 to August 2025.

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.

Learn about the average American budget in this fun and interactive piece..

According to the Bureau of Labor Statistics, the average American household earns an average of $101,805 a year before taxes and spends over 80% of their available income on basic necessities such as housing, food, and clothing. So, how does your household compare?

The average American spends roughly 33% of their income on shelter. This can include property rent, mortgage interest, property taxes, maintenance, repairs, and home insurance.

Americans spend an average of 17% of their total income on transportation, including the purchase and upkeep of their vehicle.

Whether cooking at home or eating out, Americans spend an average of 13% of their income on food.

After the “basic needs” are covered, Americans spend an average of 12% of their income on personal insurance and pensions.

The average American household spends an average of 8% of their total income on health care and health insurance.

At the end of the day, Americans still manage to spend an average of 5% of their income on entertainment.

Americans value charitable giving by spending an average of 3% of their income on cash contributions.

Finally, Americans spend 3% of their total income on apparel.

1. Bureau of Labor Statistics, 2025
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.

Knowing how insurance deductibles work can help you save money.

An insurance deductible is the amount you, the insured, pay before any claim is paid by your insurance carrier. Depending upon the type of insurance, a policy may set the amount of deductible, or offer you the ability to select a deductible amount.

Deductibles serve a dual purpose: they save the insurance company money (including the administrative cost of processing small claims) and may help keep your premium costs lower.

Choosing the Right Deductible Amount

Generally speaking, the trade-off between deductible levels and insurance premiums is simple: The higher the deductible, the lower the cost of insurance. Conversely, the lower the deductible, the higher the cost of insurance.

Deciding how to make that trade-off is a function of math and your own comfort level with higher out-of-pocket costs if you choose a higher deductible.

Only you can decide if saving $65 a year in premiums for a deductible that is $500 rather than $200 is worth it to you. You may find that the relationship between deductible amount and premium cost is different depending upon the type of insurance. For instance, the savings with a higher deductible may be significant with auto insurance, but much less so with homeowners insurance.1

Not only will this relationship between deductibles and premiums differ based on insurance type, but it may differ based upon other factors, such as your age and the value of your car, for example.

When you consider the appropriate deductible level for health insurance coverage, remember that deductibles may be on each member of the family.

When shopping for insurance, you should always ask your insurance agent what the premium costs are at each of the available deductible levels. Knowing that information may help you make a sound decision regarding your coverage.

1. For illustrative purposes only. This example is not meant to indicate any actual relationship between deductible amount and insurance premium 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, 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.
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