Author: Minich MacGregor Wealth Management

Retirement Doesn’t Always Go According to Plan

Written by Minich MacGregor Wealth Management on August 6, 2026. Posted in Posts.

When we picture the day we retire, it’s often at the end of a long road. There might be a party at work, or a celebration with friends. It’s a specific date on the calendar in a year of our choosing. This is the classic scenario, and certainly the ideal one.

Of course, sometimes people don’t get to retire exactly when they want. Sometimes, their financial situation just isn’t quite ready for it. It will take a few more years of working and saving for that day to finally come. That’s a possibility we all must prepare for.

But there’s also a third retirement option. One that almost nobody thinks about, because nobody expects it. A scenario that is less like a journey’s culmination and more like an interruption.

We’re referring to forced retirement. A retirement that occurs sooner than we expected.

When this happens, it’s usually because of an unexpected disability or illness. It could be ours, or it could be a loved one’s whom we now need to care for full time. Suddenly, we can’t work anymore, whether we wanted to or not. This is not a common scenario, but it can be an extremely scary one if it happens. It immediately presents all kinds of stressful questions. How will I replace my paycheck? Will I outlive my money? Will I have to give up all my dreams in retirement? Will I have to move?

Hopefully, this will never happen to you or anyone else in your family. But financial planning is all about preparing for possibilities, both positive and negative. According to the Disability Benefits Center, pre-retirees are twice as likely to receive Social Security Disability Insurance (more on this in a bit) at age 50 compared to age 40, and twice as likely again at age 60. Even a 20-year-old worker, according to the Social Security Administration, has a 25% chance of becoming disabled before reaching their full retirement age.

So, let’s talk about some of the options people have when they are forced to take an early retirement due to disability or illness. Just keep in mind, these are options, not recommendations. Each of these should be discussed with a qualified professional to see what your best option might be if you find yourself in this scenario. Then, after reading this, you can file this message away under the label, “Probably won’t ever need this, but it’s nice to know in case I ever do.”

Social Security Disability Insurance

Social Security benefits, of course, are something most retirees rely on to some degree. So, for those forced into an early retirement, there exists Social Security Disability Insurance. This is a program for those who have earned enough work credits (typically by working for at least 5 of the last 10 years) and have a condition that will prevent them from working for a year or more.¹ After receiving benefits for two years, you will also automatically qualify for Medicare, even if you are under the age of 65 (though there is a delay of 24 months except in certain cases).²

(By the way, sometimes those who are disabled may still be able to do some form of work from home. If so, you may still qualify for SSDI if you earn less than $1,690 per month.¹)

Severance

Many employers will provide some form of severance compensation if you can no longer work. If so, some employers might offer the opportunity to receive it as either a lump sum or via monthly payments. Choosing a lump sum may be the way to go if you have immediate expenses or lots of high-interest debt. Getting those off your ledger as quickly as possible may be the surest way to a clear road later on. However, monthly payments are probably a better option if your highest priority is simply to replace your paycheck. (You may also want to avoid taking a lump sum if it would bump you into a higher tax bracket.)

Disability Insurance

Obviously, you can’t purchase private disability insurance after becoming disabled. But your employer may offer either short-term or long-term disability coverage as part of your benefits package. It’s worth checking to see if this is an option, and if so, what the costs and provisions are.

Early 401(k) & IRA Withdrawals

Under most circumstances, pre-retirees cannot make withdrawals from their retirement accounts before the age of 59½ without triggering a 10% penalty. But a forced retirement is no ordinary circumstance. The IRS allows for early, penalty-free withdrawals if you are ill or disabled and can no longer work. All you need is documentation from your doctor. However, before exploring this option, it’s important that you first have a…

Early-Retirement Withdrawal Strategy

While this isn’t a source of income, in some ways, it’s just as important. A proper withdrawal strategy determines when you should withdraw money every month, which sources you should draw from first, and how much you need to withdraw in order to meet expenses, minimize taxes, and live a fulfilling life. In the unlikely event that you or a loved one are ever ill or disabled, we can have this conversation as soon as possible so you can enter retirement with confidence.

Ultimately, retirement — whether expected or not — is something you plan for. Planning, of course, involves knowing your needs and understanding your options. So, if you or anyone in your family is ever forced into an unexpected, premature retirement, please let me know. Together, we can determine the best option so that retirement will be a blessing…no matter what form it takes.

¹ “SSDI Approval Rate by Age in 2024,” Disability Benefits Center, https://www.disabilitybenefitscenter.org/faq/approval-rate-old-age
² “Who can get Disability,” Social Security Administration, https://www.ssa.gov/disability/eligibility
³ “Medicare Coverage for People with Disabilities,” https://medicareadvocacy.org/medicare-info/medicare-coverage-for-people-with-disabilities/

Q2 Market Recap

Written by Minich MacGregor Wealth Management on July 15, 2026. Posted in Posts.

Imagine you were given two pairs of special glasses that were designed to look backward in time rather than forward in space. The first pair can only see how the markets did; the second pair is designed to focus on the economy.

Each would give you a very different picture of how the second quarter went.

The first pair would show you that the markets had their best quarter since 2020. The Dow gained nearly 13%. The S&P 500 rose 14.9%. And the Nasdaq shot up an astonishing 21%!¹

The second pair, the one that sees the overall economy, has a less rosy view. In fact, it would show you a picture of an economy in some distress. An economy where the annual inflation rate rose to 4.2% in May, the highest in three years.² An economy where consumer confidence fell to historically low levels in April and May (although it did rebound slightly in June).³ An economy that may have only grown slightly in Q2 compared to its historical average.⁴

Both glasses are functioning properly. Both have the same maker. So why such different views? How can the markets be flying when the economy is grounded, and vice versa?

It’s not hard to understand why the economy had the quarter it did. Turmoil in the Middle East sent a shockwave through the oil and fertilizer markets, causing the goods and services that depend on those things to rise in price. (Think food, gas, electricity, transportation, and more.) By extension, a higher cost of living depresses consumer confidence. After all, it’s hard to feel confident about the future when more and more of your paycheck gets eaten up by simple necessities every month. And when consumer confidence drops, consumer spending drops…leading to slower economic growth overall.

The markets can be a bit harder to parse, but a closer look at what types of stocks performed well can provide the answers. Remember how we said the Nasdaq rose 21%, compared to 14.9% and 13% by the S&P and Dow? Well, the Nasdaq is primarily composed of technology companies. It’s those same companies that powered the S&P 500’s growth. A good example is semiconductor stocks, which surged 87.8% for the quarter.⁵

Tech companies have been the stock market’s main mover for years now due to the hope and hype around AI, and that story continued in Q2. What’s interesting, however, is that while the story remains the same, the characters inside it have changed. You see, just as the tech sector has been the single biggest propellant of the market, the sector itself has been largely driven by a handful of companies like Alphabet (Google), Amazon, NVIDIA, META (Facebook), Microsoft, Apple, and Tesla. These “Magnificent Seven”, as they are commonly known, have been at the forefront of the AI boom, and it’s their growth that has lifted the overall markets.

But that wasn’t the case in Q2. In fact, the Mag 7 fell during the quarter, and most have been essentially flat or even negative for the year overall.⁶ Instead of AI companies, investors paid more attention to AI infrastructure. (Again, semiconductors are a great example, as without them, we would lack the raw computing power needed to run AI.) In other words, it’s not the companies mining for gold, but the ones providing the picks and shovels that did well in Q2.

But none of this addresses the question we posed earlier. How can those two pairs of glasses show such diametrically different views?

The answer is a simple but critical truth: The markets and the economy are not the same.

The economy is how much our country produces and consumes. It’s the sum total of everything we make, buy, trade, and use. It’s the economy that drives our daily experiences.

The stock market, on the other hand, represents something far less tangible. It is the sum total of what we think, expect, and, yes, hope will happen in the future. It’s the market that drives our dreams and goals.

Politicians and pundits often like to use these two terms interchangeably, depending on which one makes them look better. Most common is when the markets are used as a stand-in for the economy. That’s because, while the markets are often hard to understand, they are easy to read: They go up or they go down.

As investors, though, it’s important that we remember that each is different and affected by different things. That’s because our feelings about the economy can sometimes color our opinions of the markets. This is largely due to something called status quo bias: The feeling that the current state of affairs will go on forever. When we feel frustrated or exuberant about the economy, it can impact how we invest, and not always in predictable ways.

For example, it’s easy to picture someone who, feeling negative about the economy, lacks confidence in the future and decides not to invest. But economic angst can also cause people to take more risk in the markets. In fact, there is some indication that is happening now. A recent survey found that 80% of Gen Z respondents — people born in the late 90s and early 2000s — often make “high-risk or speculative” investments because they feel financially left behind.⁷ And the Federal Reserve reported last year that American households now hold an all-time high of 45% of their total financial assets directly in stocks.⁸

That surpasses the previous record set during the dot-com bubble.

More stock market participation is generally a good thing, and it’s probably another reason why the markets performed well in Q2. But it can be a red flag when more and more people are taking on more and more risk due to their feelings about the economy.

On the other hand, market exuberance can sometimes make us forget the realities of the economy…realities that may eventually impact the stock market. Higher inflation can lead to higher interest rates. When both become “sticky,” it can prompt fears of a recession, which in turn can drag down the markets. (We experienced this in 2022.) Failing to remember this can also cause investors to start chasing ever higher returns, forgetting all about risk in the process.

The point, is to emphasize that there are two mistakes investors can make when it comes to the relationship between the markets and the economy. The first is to confuse one for the other, or to use one to drive our decisions regarding the other.

The second is to ignore one and focus solely on the other, forgetting that, while they are different, they do have a relationship…and there are times when both can converge.

Remembering this is all the more important after a great quarter in the markets. We cannot predict the future, of course, so it’s quite possible the economy will improve in Q3, and that the markets will continue progressing upward. But when the economy and the markets diverge this sharply, it’s worth asking ourselves whether what we’re seeing in stocks is driven more by hype and speculation than by real, solid fundamentals.

It’s also worth preparing ourselves for that possibility.

So, a great quarter for the markets; a not-so-great quarter for the economy. While we here at Minich MacGregor Wealth Management certainly cheer the former, we will continue watching the latter carefully. After all, that’s what you rely on us for: To keep our glasses on, and our eyes open.

In the meantime, have a great month, and a great third quarter!

¹“S&P 500, Nasdaq register best quarter since 2020 despite Iran war,” Reuters, https://www.reuters.com/business/us-stock-futures-little-changed-strong-quarter-nears-end-2026-06-30/
² “Consumer prices rose 4.2% annually in May, highest in three years,” CNBC, https://www.cnbc.com/2026/06/10/cpi-inflation-report-may-2026.html
³ “The Index of Consumer Sentiment,” University of Michigan, https://www.sca.isr.umich.edu/files/chicsh.pdf
⁴ “Current and Past GDPNow Commentaries,” Federal Reserve Bank of Atlanta, https://www.atlantafed.org/research-and-data/data/gdpnow/current-and-past-gdpnow-commentaries
⁵ “Semiconductor stocks just had their best quarter ever,” Axios, https://www.axios.com/2026/07/01/semiconductor-ai-stocks-chips
⁶ “Mag 7 value shrinks by $2.3 trillion,” CNBC, https://www.cnbc.com/2026/06/30/magnificent-7-stocks-sell-off-investors-grow-jittery-on-ai-spending.html
⁷ “Americans’ Finances are Improving – But Some Still Feel Behind,” Northwestern Mutual, https://news.northwesternmutual.com/2026-03-09-Americans-Finances-are-Improving-But-Some-Still-Feel-Behind-and-are-Turning-to-Prediction-Markets,-Sports-Betting-and-Crypto-to-Catch-Up,-According-to-Northwestern-Mutuals-2026-Planning-Progress-Study
⁸ “Americans have more money in stocks than ever before. Economists say that’s a bright red flag,” CNN Business, https://www.cnn.com/2025/09/28/business/us-stocks-record-highs-american-households

Can AI Give Financial Advice? What You Should Know Before You Trust It

Written by Minich MacGregor Wealth Management on July 9, 2026. Posted in Posts.

Maybe you’ve never touched it. Maybe you merely dabble with it from time to time. Maybe you use it every day and can hardly imagine life without it. But regardless of which category you fall under, by now you’ve certainly heard all about it.

We’re referring, of course, to artificial intelligence.

Since ChatGPT exploded on the scene in late 2022, AI has been a never-ending topic of conversation. It dominates online discourse, the halls of government, and even the markets. (Especially the markets.) But one sub-topic we’re often asked about centers on a single question:

“Can I use AI for financial advice?”

The answer is, yes. You can.

But should you? Well, that’s a bit more nuanced.

AI is fast, convenient, and powerful. But your finances — the combination of all your investments, savings, income, taxes, debt, and the dreams they empower — represent your life. So, as with any tool, we must be careful about when to use it…and when not to.

What AI is and what it can be used for

When people talk about “artificial intelligence,” what they’re really referring to is a Large Language Model, or LLM. ChatGPT, Claude, Gemini, and other chatbots use LLMs to calculate the statistically most likely next word in a sentence. It’s sort of like the autocomplete function on your phone when you write a text, except much more powerful.

It’s important to remember this when interacting with AI, because what you’re seeing is not actual intelligence, but rather extremely sophisticated pattern-matching. If you ask AI a question, like, “What’s the difference between a 401(k) and an IRA?”, it will scour its database for previously written material on that subject, determine which words are statistically most likely to answer that question, what order they should go in, and then reproduce those words on the screen for you.

For that reason, the best and most reliable way to apply AI to your personal finances is to treat it like a more in-depth, conversational Google search. It’s an excellent way to:

Get a quick answer to a question (“What age can I start taking Social Security benefits?”)
Search for resources (“Show me some resources that will help find, purchase, and then manage a vacation home.”)
Check your thinking (“I’ve heard that the cheapest day to fly to Europe is on Wednesday. Is that true, or is there more I should know?”)

AI is also great for organizing, filtering, and finding data. For example, let’s say you wanted to build a budget for an upcoming vacation. You could prompt an AI with the amount of money you have available to spend, along with a list of places you want to see and activities you want to do, and have it organize everything into a spreadsheet, with every expense broken down and itemized. With AI, you can also have it summarize a document, pull data out of a report, or ask it to compare different financial choices.

Why you shouldn’t rely on AI too much

With all that said, AI has some very definite flaws and limitations, which is why it shouldn’t be overly relied on when it comes to finances.

For one thing, AI is infamously prone to something called “hallucinations.” This is when a chatbot generates information that is inaccurate or just plain made up. It doesn’t happen all the time, but it does happen enough to make AI less reliable than the average encyclopedia.

The reason this happens is because of the way an AI works. Remember how we said everything a chatbot generates is based on the data it’s trained on? If AI lacks the correct data to answer a question or follow a prompt properly, it will make a “guess” based on the data it does have.

Another reason AI can be an unreliable partner is that it frequently makes assumptions…and then lets those assumptions affect what it generates. For instance, a study by MIT found that AI often assumes the gender of the person prompting it based on the words they use.¹ Worse still, AI would change its recommendations based on that assumed gender. According to the study:

“…advice from prompts written by women led to nearly $60,000 (4.10%) less wealth than advice from prompts by men, largely driven by lower recommended equity exposure and less active rebalancing.”

Which brings us to the most important reason you should not overly rely on AI:

AI is superb at providing information; it is not well-suited for giving advice.

What’s the difference? Well, the act of “informing” is essentially providing facts and data meant to educate. “Advice,” on the other hand, is a recommendation based on your specific situation. It’s meant not just to increase your knowledge, but to guide your decisions. And this is not yet something AI is very capable of doing.

To understand why, think again about what AI is and how it works. It generates text based on statistical plausibility. That means any advice it gives is not truly specific to you. And while providing AI with more input can increase the quality of its output (though, sometimes not knowing what to input is the reason for the question in the first place), every answer to every prompt will still be mere pattern-matching, and not truly tailored to your past, your personality, your emotions. AI doesn’t know you. It’s just very good at statistics.

That matters, because just as your financial goals are intensely personal, so too must be the path you take towards them. The media often likes to portray financial goals as the same choices on a menu that everyone has to select: Retire by a specific age, travel a certain amount, leave a legacy for your children. But that’s just surface-level stuff. A person’s real financial goals are much more complex. Like this:

“I need to retire so I have more time to take care of my disabled sister, but I’m afraid I won’t have the money to do that and still accomplish my bucket list.”

“I’ve always dreamed of seeing the small village in Germany where my great-grandparents got married, but inflation and market volatility make it feel impossible.”

“I want to leave my family a legacy, but my oldest child has passed away, leaving two kids of his own behind, my second lives in a different state, and my youngest isn’t good with money, so I don’t know how to divide my assets evenly between all of them.”

It’s these situations, these needs, these dreams, that require not just information, but advice. And not just any advice, but advice truly specific to you.

AI is an exciting tool. A tool that has come on by leaps and bounds in recent years. A tool that will undoubtedly play a major role in society over the years to come. But while it has plenty of uses, remember that all tools must be used carefully, thoughtfully, and only in the right situations. Just as a wrench can’t replace a hammer, and a hammer can’t function as a saw, AI is excellent for information and organization.

But it’s not the best thing to turn to for financial advice.

¹ “Half of Americans now ask AI for financial advice, but how good is it?” MIT Sloan School of Management, https://mitsloan.mit.edu/press/half-americans-now-ask-ai-financial-advice-how-good-it

Jefferson’s Ice Cream: A Sweet 250th Birthday Tradition

Written by Minich MacGregor Wealth Management on July 4, 2026. Posted in Posts.

How to Celebrate Independence Day Like a Founding Father

In just a few days, America will turn 250 years old!

So much has changed in our country since the Declaration of Independence was signed, but one thing hasn’t: Our sweet tooth. Whether it’s cobbler, apple pie, or a giant cake decorated like an American flag, most of us will celebrate the 4^th of July with some sort of delicious dessert.

But a special birthday requires an extra-special treat. So, this year, why not celebrate like the Founding Fathers would? Specifically, by taking a page from the book of the man who wrote the Declaration of Independence.

In 1785, Thomas Jefferson was appointed the country’s second ambassador to France. (As a result, he missed out on the Constitutional Convention.) He stayed there for four years, returning with a mastery of French, the ability to write secret coded messages using a cipher he had created…and a lifelong passion for ice cream.

Jefferson was notthe first person to introduce ice cream to America, as is sometimes claimed. But he can claim to be the author of one of the oldest written ice cream recipes in America. Written in Jefferson’s own handwriting, it still exists today…and we’ve included it with this message!

Jefferson was so fond of ice cream that he brought all his equipment to the White House, frequently serving it whenever he had guests. We can think of few better ways to honor both him and our country’s founding than through his own recipe. So, without further ado, we present to you Thomas Jefferson’s ice cream…the quickest way to exercise our own pursuit of happiness.

Happy 250^th Independence Day!

Ice Cream For Independence Day
By Thomas Jefferson¹

Ice Cream.

2. bottles of good cream.
6. yolks of eggs.
1/2 lb. sugar

Mix the yolks & sugar. Put the cream on a fire in a casserole [deep pot or saucepan], first putting in a stick of Vanilla. When near boiling take it off & pour it gently into the mixture of eggs & sugar.

Stir it well.

Put it on the fire again stirring it thoroughly with a spoon to prevent it’s sticking to the casserole.
When near boiling take it off and strain it thro’ a towel.

Put it in the Sabottiere.* Then set it in ice an hour before it is to be served. Put into the ice a handful of salt.

Put salt on the coverlid of the Sabotierre & cover the whole with ice. Leave it still half a quarter of an hour. Then turn the Sabottiere in the ice 10 minutes

Open it to loosen with a spatula the ice from the inner sides of the Sabotierre. Shut it & replace it in the ice.

Open it from time to time to detach the ice from the sides. When well taken (prise) stir it well with the Spatula.

Put it in moulds, justling it well down on the knee. Then put the mould into the same bucket of ice. Leave it there to the moment of serving it. To withdraw it, immerse the mould in warm water, turning it well till it will come out & turn it into a plate.

*A Sabotierre is an inner canister used in an ice pail.

If Jefferson’s instructions are a little hard to follow, well…it was the 18^th century, after all. Here’s a more modern version!

Beat the yolks of 6 eggs until thick and lemon colored. Add, gradually, 1 cup of sugar and a pinch of salt.

Bring to a boil 1 quart of cream and pour slowly on the egg mixture. Put in top of double boiler and when it thickens, remove and strain through a fine sieve into a bowl.

When cool add 2 teaspoonfuls of vanilla. Freeze, as usual, with one part of salt to three parts of ice. Place in a mould, pack in ice and salt for several hours.

For electric refrigerators, follow usual direction, but stir frequently.

SOURCE:
¹ “Ice Cream,” The Thomas Jefferson Foundation,” Monticello.org, https://www.monticello.org/encyclopedia/ice-cream

Your Q3 Financial Checklist

Written by Minich MacGregor Wealth Management on June 24, 2026. Posted in Posts.

“How can smart people so often be wrong? They don’t do what I’m telling you to do: Use a checklist.” — Charlie Munger¹

Whether you’re a pilot flying a plane, a surgeon performing an operation, or an engineer constructing a building, checklists are the smart person’s secret weapon. They prevent errors, ensure consistency, and make the future just a little more reliable.

Checklists are an amazing financial tool, too. The late Charlie Munger, who was Warren Buffett’s business partner and unquestionably one of the most successful investors of all time, frequently discussed the importance of checklists in his own decision-making.

“I’m a great believer in solving hard problems by using a checklist. You need to get all likely and unlikely answers before you; otherwise, it’s easy to miss something important.” — Charlie Munger²

With that in mind, we’ve created a new “summer financial checklist” specifically for the third quarter of 2026. This checklist has five items, and while some may apply to you and some may not, each is worth doing now while the heat is high and the days are long.

Of course, everyone’s financial situation is different, so if you would ever like to discuss any additional items that are more particular to you, please let us know. In the meantime, we hope you have a great third quarter…and a wonderful summer!

Q3 Financial Checklist for 2026
▢ Update Your Estate Plan Statistically speaking, there’s a good chance you’ll attend a wedding or celebrate a loved one’s new baby during the summer. Both events are excellent reminders of the need to keep your estate plan updated. When we first create an estate plan, it reflects exactly what we are thinking and feeling in that moment. But as time passes and life changes, those thoughts and feelings may change, too. That’s why, if you haven’t already done so lately, you should take the time this summer to create or update your will, trusts, advanced directives, and beneficiary designations so they reflect everything and everyone you want to take care of. ▢ Freeze Unnecessary Subscriptions Summer means summer vacation, and for many people, vacations mean travel! Which, in turn, means we can often be away from home for weeks at a time. But while we usually remember to turn the AC down and the lights off before we leave the house, all our subscriptions stay turned on, quietly costing us money even though we’re not using them. So, as you prepare to go on any trips this summer, consider pausing or temporarily canceling any subscriptions you’re not likely to use much. That streaming service that’s meant more for cold winter nights than warm summer evenings. The gym membership that won’t get used while you’re away. Auto-deliveries from companies like Amazon you won’t be there to receive. It’s an easy way to save money for that perfect souvenir or an upgrade to first class. ▢ Review Your Interest Rate Expenses From gas to beef, prices are on the rise again, and with rising inflation often comes the possibility of rising interest rates. (The Federal Reserve typically hikes rates as a way of combatting inflation.) That makes this the perfect time to review how interest rates are impacting your ability to spend, save, and invest. From credit cards to car payments, from a mortgage to medical debt, it’s easy for interest rates to stack on each other and act as a drag on our finances. Take an hour to review all the various forms of interest you are paying to determine whether there’s a way to decrease them. Options like refinancing or payment plans aren’t always right for everyone, but they are always worth considering. ▢ Plan For Upcoming Expenditures It’s hard to believe, but the year is already half over! That means the beginning of Q3 is the time to plan for any big-budget expenses that might take place during the second half of year. Major purchases, family events, a child or grandchild starting college, even holiday plans. By getting a good sense of what these will cost, and when those costs will hit, we can ensure that not only will those expenditures be covered, but that they won’t detract from saving and investing for even longer-term goals. ▢ Hold Family Financial Conversations Whether it’s an impromptu Sunday BBQ, a long road trip, or a reunion, summer is a season when families tend to spend more time together. That makes it the perfect opportunity to have “family financial conversations.” There are three types of conversations that are good to have. The first centers on “Family Financial Preparedness,” which is where everyone (or at least the adults) talks about their plans and intentions should the unexpected happen. The second is “Family Financial Assistance.” This is where the family discusses what help loved ones may need with their finances. For instance, getting out of debt, helping someone go to college, or even investing in a family member’s business. The final conversation is about “Family Financial Priorities.” Here, the family decides what they want to accomplish together. What trips and activities do you want to do together? What property would the family like to purchase and share? With all three conversations, the family is using the summer months to get on the same page, move in the same direction, and ensure financial harmony in the home.

Q3 Financial Checklist for 2026

Tip: Print this out and stick it on the fridge or somewhere else it will be seen. That way, you can check off the items one by one as you complete them!

▢ Update Your Estate Plan
Statistically speaking, there’s a good chance you’ll attend a wedding or celebrate a loved one’s new baby during the summer. Both events are excellent reminders of the need to keep your estate plan updated.

When we first create an estate plan, it reflects exactly what we are thinking and feeling in that moment. But as time passes and life changes, those thoughts and feelings may change, too. That’s why, if you haven’t already done so lately, you should take the time this summer to create or update your will, trusts, advanced directives, and beneficiary designations so they reflect everything and everyone you want to take care of.

▢ Freeze Unnecessary Subscriptions
Summer means summer vacation, and for many people, vacations mean travel! Which, in turn, means we can often be away from home for weeks at a time. But while we usually remember to turn the AC down and the lights off before we leave the house, all our subscriptions stay turned on, quietly costing us money even though we’re not using them. So, as you prepare to go on any trips this summer, consider pausing or temporarily canceling any subscriptions you’re not likely to use much. That streaming service that’s meant more for cold winter nights than warm summer evenings. The gym membership that won’t get used while you’re away. Auto-deliveries from companies like Amazon you won’t be there to receive. It’s an easy way to save money for that perfect souvenir or an upgrade to first class.

▢ Review Your Interest Rate Expenses
From gas to beef, prices are on the rise again, and with rising inflation often comes the possibility of rising interest rates. (The Federal Reserve typically hikes rates as a way of combatting inflation.) That makes this the perfect time to review how interest rates are impacting your ability to spend, save, and invest. From credit cards to car payments, from a mortgage to medical debt, it’s easy for interest rates to stack on each other and act as a drag on our finances. Take an hour to review all the various forms of interest you are paying to determine whether there’s a way to decrease them. Options like refinancing or payment plans aren’t always right for everyone, but they are always worth considering.

▢ Plan For Upcoming Expenditures
It’s hard to believe, but the year is already half over! That means the beginning of Q3 is the time to plan for any big-budget expenses that might take place during the second half of year. Major purchases, family events, a child or grandchild starting college, even holiday plans. By getting a good sense of what these will cost, and when those costs will hit, we can ensure that not only will those expenditures be covered, but that they won’t detract from saving and investing for even longer-term goals.

▢ Hold Family Financial Conversations
Whether it’s an impromptu Sunday BBQ, a long road trip, or a reunion, summer is a season when families tend to spend more time together. That makes it the perfect opportunity to have “family financial conversations.” There are three types of conversations that are good to have. The first centers on “Family Financial Preparedness,” which is where everyone (or at least the adults) talks about their plans and intentions should the unexpected happen. The second is “Family Financial Assistance.” This is where the family discusses what help loved ones may need with their finances. For instance, getting out of debt, helping someone go to college, or even investing in a family member’s business. The final conversation is about “Family Financial Priorities.” Here, the family decides what they want to accomplish together. What trips and activities do you want to do together? What property would the family like to purchase and share? With all three conversations, the family is using the summer months to get on the same page, move in the same direction, and ensure financial harmony in the home.

¹ “Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger,” edited by Peter D. Kaufman, Expanded Third Edition, 2008, Virginia Beach: The Donning Company Publishers.
² “Charlie Munger: The Complete Investor,” Tren Griffin, 2015, Columbia Business School Publishing.

Happy Father’s Day: Celebrating Our Real-Life Superheroes

Written by Minich MacGregor Wealth Management on June 21, 2026. Posted in Posts.

In honor of Father’s Day, we wanted to share a message written by a colleague about her father. While her experiences were, of course, specific to her, we think they are the perfect illustration of what good fatherhood looks like…and why having a good father can make all the difference in the world.

When I was little, I was terrorized by nightly visits from a monster that lived in my closet.

Now, as an adult, I know monsters aren’t real of course. But back then, I believed in superheroes, fairytales, imaginary friends—and, unfortunately, scary monsters—as most children do.

As a parent, I feel lucky that my daughter is still young enough that we haven’t had to cross that bridge yet. But thanks to my dad, I feel well-equipped for when that day inevitably comes.

You see, my dad didn’t just peek into the closet and offer a reassuring word. He didn’t just tell me monsters weren’t real.

No, he fought them.

He shut himself in the closet and made a show of it—banging and booming as he wrestled “the beast” into submission. He stuffed it into a trash bag, dragged it out to the curb, and sat with me at the window until the garbage truck came and hauled it away.

And just like that, the nightmares stopped.

Here’s the thing—I’m pretty sure he didn’t think twice about it. I don’t think he saw it as a grand gesture. I don’t think it was even planned.

It was just my dad being… my dad.

But to me?

He was a superhero.

I knew I could count on him to show up, every time, anywhere, without ever needing applause. Because that’s what dads do. They hold steady. They stand guard. They make the darkness feel a little less scary. They protect us when we’re small—not just from the things that scare us, but from the things we don’t yet know how to handle. And they do it quietly. Without fanfare. Without needing a thank you. Without ever asking to be noticed.

Maybe your dad didn’t fight closet monsters. Maybe he saved the day in smaller ways. A light left on. A ride in the rain. A voice in the dark that said, “I’m here.”

But, no matter what, good dads show up when we need them most, as any superhero would.

So, here’s to the dads who did that for us. To every man who answered to “Dad,” whether by blood, by marriage, or simply by heart. To the stepdads, grandfathers, uncles, and chosen father figures who stood in when it mattered most. To the ones who may never have worn a cape, but still made us feel safe in this big, scary world.

Happy Father’s Day.

And thank you, Dad—for being my real-life superhero and always helping me fight my monsters.

From our entire team to all the great superhero dads out there…Happy Father’s Day!

Decoding the Bond Market: Why Rising Yields Matter to You

Written by Minich MacGregor Wealth Management on June 17, 2026. Posted in Posts.

There’s a financial topic that never gets discussed around the water cooler or at the dinner table. It’s boring and obscure…especially compared to the stock market, or bitcoin, or real estate, or any of a dozen other subjects people do talk about. And yet, it’s arguably more important than any of those. In fact, it plays a critical role in the functioning of our economy.

We’re referring, of course, to the bond market.

The bond market is something that tends to hum along in the background, mostly unnoticed. But every so often, something happens with bonds that makes headlines. Earlier this year, long-term Treasury yields climbed to some of their highest levels in nearly two decades.1

For most people, that last sentence likely has no emotional impact whatsoever. The what on what did what? Treasury yields are one of several indicators investors use to assess where the economy might be headed. While yields have eased somewhat in recent weeks, investors continue to monitor the factors that contributed to the earlier spike. So, we thought it would be a good idea to explain what headlines like this are all about and why the topic matters.

Let’s start by breaking down what we mean by “yield.” To put it simply, a bond’s yield is the return an investor expects to gain until a bond matures.

Yields can be determined by dividing the bond’s annual interest rate payment by its price. For example, imagine an investor, whom we’ll call Alfred, buys a bond with a 10% interest rate for $1000. The bond’s yield would be 10%, too. But now imagine that Alfred sells that bond to Ethyl a year later…but for $75 more than his initial $1000 investment ($1075). Since the bond is being traded for more than its original value, the yield would go down to 9.3%. (After all, if Ethyl pays more than Alfred for the same level of interest rate, she’s getting a lower return on her investment than Alfred did.) However, if Alfred sold the bond for less than he originally paid — say, $975 — then Ethyl’s yield would rise to 10.25%.

Based on this example, we can see that yields and bond prices are inversely related. If a bond’s price goes up, its yield will go down. If the price goes down, the yield goes up. Make sense?

So, that’s yield in a nutshell. Now, you may be wondering, “Why am I hearing so much about bond yields in the media?” Well, many analysts and economists use yields to help assess future interest-rate expectations and broader economic conditions. You see, when interest rates are expected to rise, bond prices tend to go down. (That’s because an existing bond’s interest rate will no longer be as attractive as that of a new bond, meaning the owner would need to sell the bond at a discount.) And when interest rates are expected to fall, bond prices rise. For that reason, when

yields rise across the entire bond market, analysts often see it as a signal that interest rates may rise soon, too.

Why have yields been elevated recently? Several factors are contributing. Investors continue to monitor inflation trends, Federal Reserve policy, economic growth expectations, federal borrowing needs, and global demand for U.S. Treasury securities. Changes in any of these factors can influence bond prices and yields.

The Federal Reserve plays an important role in the bond market because its monetary policy decisions can influence interest rates throughout the economy. As a result, investors pay close attention to Fed communications and economic data when assessing the future direction of bond yields.

Now, why does all this matter? Well, Treasury yields are an important bellwether for the overall economy. Because U.S. Treasury securities are generally viewed as among the highest-quality fixed-income investments, investors all over the world buy U.S. Treasury bonds so they can simultaneously secure their money while also earning a return on it. Because of this, many other interest rates and borrowing costs are tied to Treasury bonds. Treasury yields influence many borrowing costs throughout the economy, including consumer loans, business financing, and mortgage rates.

When all these events happen — rising inflation, rising yields, and rising interest rates — it can sometimes affect economic growth. Inflation, obviously, reduces purchasing power, which decreases consumer spending. But higher yields can have a similar effect because companies have to pay higher interest rates to borrow money. At the same time, higher yields can also put pressure on stock valuations. That’s because bonds that yield a higher return can start to look more attractive than stocks, which are historically seen as riskier, more volatile investments.

It’s worth noting that everything in the last two paragraphs is hypothetical. Economic growth has been solid in 2026, and the stock market has reached record highs. But as we move into the second half of the year, it’s worth keeping an eye on Treasury yields and interest rates as a potential “early indicator” for volatility on the horizon.

One important point: Rising yields are not inherently negative for investors. While higher yields can create short-term volatility, they also mean that newly issued bonds may offer higher levels of income than were available in previous years. For long-term investors, that can create opportunities within a diversified portfolio.

While headlines often focus on short-term movements in interest rates and Treasury yields, our investment decisions remain guided by your long-term financial plan rather than day-to-day market fluctuations.

As always, you don’t have to spend much time thinking about any of this. That’s what our team is here for! But whenever you see bond yield headlines in the news, now you know what they’re talking about…and why it matters. In the meantime, if you ever have any questions or concerns, please let us know. We always love to hear from you. Have a great summer!

¹ “30-year Treasury yield tops 5.19%, highest since the financial crisis,” CNBC, www.cnbc.com/2026/05/19/treasurys-yields-inflation-traders-fed-interest-rates.html

Know Before You Go: Smart Road Trip Savings Tips

Written by Minich MacGregor Wealth Management on June 10, 2026. Posted in Posts.

For many people, summer means summer vacation…and vacation means a road trip!

Road trips are one of the best ways to travel. They enable us to explore corners of our country that we wouldn’t get to see otherwise. They often lead to the greatest memories and most enjoyable adventures.

But road trips can also be expensive. Depending on a variety of factors, including time, distance, and the number of people going along, they can sometimes be pricier than flying. And when something unexpected happens, it’s easy to blow your budget before you’re even halfway to your destination.

With that in mind, we have created a new infographic with a few simple, common-sense tips on how to save money on your next road trip. None of these are mind-blowing, but most are easy to forget…and when you add them all up, they can really make a difference in the long run.

If you’re going on a road trip this summer, have fun, stay safe…and send us pictures!

Education-Infographics-Road Trip Tips PDF Download

Author: Minich MacGregor Wealth Management

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