The CFP Board, which oversees the Certified Financial Planner credential, is promoting from within. The organization announced on Wednesday that it has chosen Chief Operating Officer K. Dane Snowden to replace Kevin Keller as CEO. ...

Core Insights - Financial experts emphasize the importance of simple retirement advice for 2026, focusing on strategies to protect and grow retirement savings Group 1: Separating Funds - It is advised to separate short-term money from long-term investments to safeguard retirement savings, preventing premature withdrawals from retirement accounts [2] - Emergency savings are crucial as they help individuals manage unexpected expenses without derailing retirement plans, leading to longer investment periods and higher retirement balances [3] Group 2: Managing Retirement Income - Retirement should be treated like a paycheck, with a fixed monthly deposit into checking funded from a cash reserve of zero to three years, while the remainder is invested for long-term growth [4][5] - This approach allows for steady spending, utilizes market volatility effectively, and provides better control over tax implications during withdrawals [5][6] Group 3: Maximizing Contributions - It is essential to contribute enough to retirement accounts to receive any available company match, as this represents free money that significantly enhances 401(k) balances over time [7] - Common employer match formulas include a dollar-for-dollar match up to 3% of salary and a 50 cents on the dollar match for the next 2%, with a recommendation to save about 15% of pre-tax income annually, including the match [8]

Core Insights - Nicholas Logan, a 40-year-old actor, faces financial challenges despite artistic success, particularly regarding retirement savings [1][2] Group 1: Financial Situation - Logan has saved $40,000 but is also managing $20,000 in student debt from NYU [2][5] - His income primarily comes from low-paying theater gigs and freelance work, making it difficult to save consistently [2] Group 2: Retirement Planning Advice - A certified financial planner (CFP) suggests that Logan should not panic, as many in creative fields lack financial education [4] - It is recommended that Logan create a clear financial picture by listing assets, savings, and debts [5] - Establishing an emergency fund is crucial, typically covering three to six months of expenses, before considering retirement investments [6]

Core Insights - An annual retirement income of $85,000 is significantly above the median U.S. household income and can cover most middle-class expenses, but its sustainability depends on the source of funds and longevity of the income stream [1] - To sustain an annual withdrawal of $80,000 for at least 30 years, a portfolio of approximately $2,000,000 is required, highlighting the importance of portfolio management in relation to inflation [2] - The primary concern is not the comfort of $85,000 today, but whether this purchasing power can withstand decades of inflation, necessitating an increase to $139,000 in 20 years at a 2.5% inflation rate [3] Financial Planning Considerations - Using the 4% withdrawal rule, an investment of about $2.1 million is needed to generate $85,000 annually, with asset allocation being a critical factor for long-term growth [4] - A conservative 30/70 stocks-to-bonds allocation may provide short-term safety but limits long-term growth potential, while a 70/30 allocation could significantly increase portfolio value over 30 years [4] - The challenge lies in balancing sustainable withdrawals with inflation protection over a retirement horizon of 25-30 years [5] Investment Strategies - Retirees should be cautious of relying too heavily on fixed-income investments, as this may lead to reduced spending in later years when healthcare costs rise [6] - Dividend-focused equity exposure, such as investing in SCHD (Schwab U.S. Dividend Equity ETF) with a yield of 3.81%, can provide income while maintaining growth potential [7] - A layered withdrawal strategy is recommended, which involves keeping 2-3 years of expenses in cash or short-term bonds and investing the remainder in diversified equities to avoid selling stocks during market downturns [8]

Core Insights - The article discusses Dan Galli's transition from teaching to financial advising, highlighting the importance of simplifying complex financial topics for clients [2][3] - Galli emphasizes the need to improve public perception and understanding of financial planning, distinguishing it from mere investment management [4] - The article also addresses the importance of financial literacy, advocating for educational initiatives both in schools and for adults [5] Group 1: Career Transition - Dan Galli transitioned from a teaching career to financial advising due to job market challenges in education during the 1970s [2] - His experience as a teacher influences his approach to financial advising, focusing on clear communication [3] Group 2: Financial Planning Perspective - Galli aims to clarify the role of financial planners, emphasizing that many clients mistakenly believe they have a financial planner when they actually have an investment manager [4] - The financial planner's role is to integrate various financial aspects, including accounting, tax advising, and insurance, to help clients achieve their goals [4] Group 3: Financial Literacy Initiatives - Galli is committed to enhancing financial literacy, recognizing the need for education starting from schools and extending to adults [5] - The organization has nearly 20,000 members who are willing to contribute their expertise to financial literacy projects [5]

If you decide a Roth conversion is worth it for you, it is critical to do it when your tax rate is lower than you expect it to be in retirement. That could be a low-income year or a year in which you lost a job. - MarketWatch illustration/iStockphoto Welcome to Day 7, the final installment in MarketWatch’s seven-part money challenge. We’ve published one tip a day for seven business days. We hope these ideas have inspired you to take control over some aspects of your finances in 2026 and to set yourself up ...

Managing your finances can feel like an overwhelming task — from sticking to your budget to earning the highest possible returns on your investments. There’s a lot of advice floating around, especially on FinTok, which can leave you feeling like you’re not doing enough to squeeze every drop of value out of every dollar you save, invest or spend. Must Read Christine Benz, director of personal finance and retirement at Morningstar, told CNBC Make It that the financial industry has an “optimizing mindset ...

Core Insights - The Mather Group (TMG) has partnered with The Hogan-Knotts Financial Group to enhance its financial planning and advisory services [1][2] - Hogan-Knotts manages over $300 million in client assets and has been operational since 1979, focusing on individuals, families, and businesses [1][2] - TMG operates as a fee-only investment advisory firm with 13 offices across the US, serving high-net-worth individuals and families [3] Company Overview - The Hogan-Knotts Financial Group is based in New Jersey and provides financial planning, investment management, and advisory services [1] - The leadership team, Robert Hogan and Timothy Knotts, each has over 30 years of experience in the financial sector [1] - TMG's CEO, Jennifer des Groseilliers, emphasized the alignment of values and client service philosophy between TMG and Hogan-Knotts [3] Strategic Development - The partnership aims to expand TMG's capabilities and resources while maintaining a personalized client experience [2] - This collaboration follows TMG's previous partnership with Napa Wealth Management, which reported assets under management of just under $300 million [4]

Core Insights - Personal finance expert Dave Ramsey emphasizes that reliance on monthly debt payments traps individuals in unfulfilling jobs, hindering their financial freedom [1][3] - Ramsey advocates for eliminating debt payments to redirect funds towards investments, which can lead to wealth accumulation [2][5] - He highlights the common mindset of Americans who justify debt as a means to progress, sharing his own past financial mistakes to relate to their experiences [3][4] Group 1 - Ramsey points out that average Americans work hard only to pay off debts to credit card companies and car lenders, suggesting that this cycle prevents them from building wealth [2] - He argues that simply cutting debt payments is insufficient for achieving financial freedom without a structured financial plan [4] - Ramsey encourages individuals to view their income as a powerful tool for wealth-building and to take control of their financial habits [5] Group 2 - The discussion on "The Ramsey Show" reflects a broader trend of individuals feeling trapped by debt, which Ramsey believes is a significant barrier to financial success [1][3] - Ramsey's approach includes personalized financial planning services for higher-income households, indicating a market opportunity for financial advisory firms [4] - The emphasis on changing financial habits suggests a growing awareness and potential demand for financial education and resources [5]

Core Insights - Retirement planning for 2026 requires careful consideration of financial strategies to avoid regrets and ensure a stable lifestyle Group 1: Profit Maximization Strategy - Business owners planning to retire in 2026 should consider switching from a tax minimization strategy to a profit maximization strategy to enhance company valuation [2][3] - Engaging with a tax advisor is recommended to understand the implications of this strategy on the sale of the business [2] Group 2: Asset Management - Long-term investors often make the mistake of selling assets to "play it safe," which can lead to passive attrition of retirement funds [4] - Moving assets out of the market, such as cash or certificates of deposit, can hinder growth and result in regret when trying to generate income later [5][6] Group 3: Healthcare Costs - Underestimating healthcare costs and the timing of Medicare eligibility can significantly impact retirement plans [7] - Retiring before age 65 may lead to gaps in health insurance coverage, as COBRA is temporary and Medicare starts at 65 [7]