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Teach Your Children Well

Teaching children about finances isn’t just about numbers and assets; it’s about equipping them with the skills they’ll need to manage wealth responsibly. To foster a productive learning environment, separate financial education from discussions about assets and investments.

EASY DOES IT

Begin with broad, non-financial topics. Covering subjects like cybersecurity or financial etiquette allows everyone to engage, regardless of their financial knowledge. Starting with foundational concepts can nurture curiosity and spark interest among family members, even those who might feel intimidated.

MEANINGFUL DIALOGUE

These conversations are opportunities to reinforce your family’s historic values. Framing your discussions through a contemporary lens can cultivate a shared vision to guide the family’s financial philosophy moving forward. Storytelling is a powerful tool. Share experiences that highlight the values behind wealth. Maybe it’s a story about a family member who built a business from scratch or times when money was tight, and the lessons learned from those moments. Anecdotes can make seemingly dry topics more relatable and meaningful.

START SMALL

Begin with a few interested family members and expand the conversation from there. The goal is to create a culture that views financial discussions as enriching rather than uncomfortable.

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Getting Your Finances Back on Track

The holiday season often leaves wallets strained, but 2026 can start with financial recovery.

REVIEW SPENDING

First, assess your spending by reviewing bank and credit card statements to identify holiday overspending. Create a budget that prioritizes essentials, such as rent and utilities, while allocating funds to pay off high-interest debt, like credit cards, which averaged 20% interest in 2025.

TAKE ACTION

Cut discretionary expenses, such as dining out or subscriptions, temporarily to free up cash. Rebuild your emergency fund by aiming for 3–6 months’ worth of expenses, setting aside small, consistent savings. Adjust tax withholdings using the IRS Tax Withholding Estimator to avoid surprises and optimize cash flow. If eligible, explore tax deductions (e.g., charitable donations) or credits to reduce your tax burden. Consider a side hustle to boost income and accelerate debt repayment.

Meet with your financial professional to refine your budget and investment strategy, ensuring that long-term goals, such as retirement savings, stay on track. Act promptly to regain control of your finances.

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The Benefits of Financial and Tax Strategies

A well-coordinated financial strategy encompasses more than just your investments. It considers every aspect of your finances, from budgeting to retirement saving, to ensure you’re making decisions that can help you reach all your goals.

THE BIG PICTURE

A successful strategy should provide a complete view of all your finances. By knowing how much savings you have accrued and the debts you owe, you can come up with a roadmap for spending, saving and investing. Identifying your short- and long-term goals is a good place to start. Paying off debt might be a short-term goal, while saving for retirement generally is a long-term goal that could be years in the future. Setting aside money for a child’s education might be a mid-term goal.

WORK TOWARD YOUR GOALS

A cornerstone of your strategy should be the probability of reaching all the milestones you’ve identified. You and your financial professional choose a target asset allocation based on your goals, time frame and risk tolerance. Whether you’re an aggressive or a conservative investor, it’s essential to periodically check your progress toward your goals and adjust your strategy as needed.

YOUR RETIREMENT PICTURE

What you want to do in retirement can be a factor in how much savings you’ll need to accumulate. If you plan to travel, relocate or even start your own business, you’ll need to have sufficient funds for those endeavors. Your financial professional can help you estimate your future financial needs and build the wealth you’ll need to meet them.

MARKET UPS AND DOWNS

Periods of market volatility and high inflation can affect your investments’ performance over the short term. Investors may panic and sell investments when values are down. Historically, markets have always recovered their losses. Your financial professional can help you make investment decisions that aren’t driven by short-term market fluctuations.

HELP WITH TAXES

Taxes can impact your finances both before and during retirement. A tax professional can help you create a tax-efficient estate plan, advise you on charitable donations and explain any tax breaks and deductions that are available to you.