Choosing a health care plan at work can be a bit of a headache—charts comparing premiums, copays and deductibles isn’t exactly light reading. One option you might have encountered in this process is the high-deductible health plan (HDHP). The name might sound intimidating. After all, who really wants to pay high deductibles? But when paired with a health savings account (HSA), an HDHP can be a powerful tool to help you save for your health care now and your future.
What is an HDHP?
An HDHP is a type of health insurance plan that comes with lower monthly premiums but higher out-of-pocket costs. In other words, you’ll pay less each month, but you’ll be on the hook for more when you actually visit a doctor. These plans shift more financial risk to you in exchange for upfront savings—and they often come with access to an HSA.
An HSA allows you to set aside pre-tax money to pay for qualified medical expenses like doctor visits, prescriptions, dental care and vision services. Unlike a flexible spending account (FSA), which is “use it or lose it,” the money in an HSA is yours to keep. It rolls over from year to year, stays with you if you change jobs and often has investment options.
What makes HSAs especially appealing are their triple tax benefits:
Tax-deductible contributions.
Tax-free growth on investments inside the HSA.
Tax-free withdrawals at any time if the money is used for qualified medical expenses.
These features make HSAs one of the most tax-efficient savings vehicles available. But there’s another way to get more from your HSA: It can serve as a powerful retirement savings vehicle.
Should You Use a High-Deductible Health Plan?
Before we get to the benefits of an HSA as an investment vehicle, how do you decide whether to use an HDHP in the first place? Choosing between a traditional plan and an HDHP depends on a few key factors.
First, compare the total potential cost under each plan. That means looking at monthly premiums, deductibles, coinsurance and out-of-pocket maximums. HDHPs typically offer significantly lower monthly premiums but come with higher deductibles. If you’re generally healthy and don’t expect to need much medical care, this tradeoff could work in your favor.
But be honest with yourself about your cash flow. If you had a sudden medical emergency, would you be able to cover the high out-of-pocket costs until your insurance kicks in? For people with chronic health conditions or frequent doctor visits, a traditional plan might offer more predictable costs.
Using an HSA as a Retirement Account
Once you’ve maxed out your traditional retirement accounts, an HSA becomes an excellent next stop. HSA contribution limits are $4,300 for self-only coverage and $8,550 for family coverage in 2025. You can leave that money in cash or invest it. You can, of course, use it to pay for qualified out-of-pocket medical expenses at any time. But you can also leave it in the account untouched, letting it grow and enjoy the power of tax-advantaged compounding—just as you would with an IRA or 401(k).
Health care is one of the biggest expenses in retirement. So building a tax-free fund dedicated to future medical needs makes a lot of sense. According to recent estimates, a 65-year-old retiring in 2024 can expect to spend around $165,000 on health care in retirement—and that number is only expected to rise.
Here’s the kicker: When you turn 65, you aren’t limited to using your HSA for medical expenses. You can make withdrawals for non-medical expenses, and these will simply be taxed as income, just like withdrawals from a traditional IRA or 401(k). In short, your HSA can function like a traditional retirement account with the added perk of tax-free withdrawals for medical expenses at any age.
Your HSA as Part of Your Investment Strategy
Your HSA is a financial asset, whether it’s sitting in cash or invested in the market. As such, it can play an important role in your strategies for long-term asset allocation, diversification and rebalancing. Managed well, it can contribute meaningfully to your future financial security.
You can manage your HSA investments on your own. Or, depending on your HSA provider, we may be able to manage the assets within the account on your behalf. Even if direct management isn’t possible, we’re here to help you evaluate your options, choose appropriate investments and determine how best to incorporate your HSA into your long-term plan.
If you’re not sure whether an HDHP and HSA are right for you, let’s talk. Together, we can evaluate your health needs, cash flow and retirement goals to determine the best path forward.
Bryan Cassick, MBA, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2025/10/HSA-Benefits.png10801080Bryan Cassick, MBA, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgBryan Cassick, MBA, CFP®2025-10-10 10:30:532025-10-10 10:31:01Should I Be Using a Health Savings Account?
Open enrollment is your annual opportunity to review and select your employee benefits for the upcoming year. While it might seem like just another task on your to-do list, the choices you make now can have a significant impact on your health and finances. Don’t simply “roll over” last year’s elections without a review. A proactive approach will ensure your benefits align with your needs and goals.
Analyzing Your Health Insurance Options
Start by assessing your current situation. Think about your health needs from the past year: how many doctor’s visits did you have? What were your prescription costs? Do you anticipate any major life changes, such as getting married or having a baby? These factors will help you choose the right plan.
Understanding Key Terms
Before diving into plan specifics, it’s crucial to understand a few key terms:
Premium: The fixed monthly cost you pay for your insurance plan.
Deductible: The amount you pay out of pocket before your insurance coverage begins.
Copay: A fixed amount you pay for a doctor’s visit or prescription after your deductible is met.
Coinsurance: A percentage of costs you pay for covered services after the deductible is met.
Out-of-Pocket Maximum: The maximum amount you will pay in a year before the plan covers 100% of costs.
Comparing Plan Types: PPO vs. HDHP
The two most common types of health plans are a Preferred Provider Organization (PPO) and a High-Deductible Health Plan (HDHP).
A PPO typically has a lower deductible but higher premiums. It also offers more flexibility for seeing out-of-network doctors. This type of plan is generally best for people who use a lot of medical services, as the costs are more predictable.
An HDHP has a higher deductible but lower premiums. While you’ll pay more upfront for care, this type of plan makes you eligible for a Health Savings Account (HSA). An HDHP is often a great choice for generally healthy individuals or those who can comfortably afford the higher upfront costs if a major health event were to occur.
To help with your decision, compare the total estimated annual cost of each plan. For example, calculate the premiums plus potential out-of-pocket costs for a year with no major health events versus a year with a major surgery. This simple exercise can reveal which plan offers the most financial sense for your situation.
Maximizing Your Tax-Advantaged Accounts
In addition to health insurance, open enrollment is your chance to enroll in or update contributions to valuable tax-advantaged accounts.
Flexible Spending Accounts (FSA)
An FSA allows you to use pre-tax dollars for qualified medical or dependent care expenses, which lowers your taxable income. The key rule to remember is “use it or lose it”—funds typically do not roll over from one year to the next. Carefully estimate your upcoming year’s expenses to avoid forfeiting any money.
Health Savings Accounts (HSA)
An HSA is a powerful financial tool with a triple tax advantage:
Contributions are pre-tax.
Funds grow tax-free.
Withdrawals for qualified medical expenses are tax-free.
Unlike an FSA, an HSA is portable, meaning the account belongs to you even if you change jobs. This makes it an excellent long-term savings tool. After age 65, you can withdraw funds for any reason without penalty, although non-medical withdrawals are subject to income tax. Remember, an HSA is only available if you are enrolled in an HDHP.
Reviewing Other Important Benefits
Don’t stop at health insurance; open enrollment is the perfect time to review your other benefits.
Retirement Contributions
Check your retirement contributions to your 401(k) or 403(b). If your employer offers a matching contribution, be sure you’re contributing at least enough to get the full match—it’s free money! Consider increasing your contribution rate by at least 1% each year. Small, consistent increases can make a huge difference over time.
Life and Disability Insurance
Life Insurance: Review your coverage needs based on your dependents and debts. Your employer may provide basic coverage, but you might need supplemental, voluntary coverage to fully protect your loved ones.
Disability Insurance: This benefit protects your income if you are unable to work due to illness or injury. Review your short-term and long-term disability options to ensure your income is protected.
Final Steps and Action Plan
Making your benefit selections requires a few final steps to ensure you’re fully prepared.
Check Beneficiaries: In case of a major life change like a marriage or divorce, update the beneficiaries on all your accounts (retirement, life insurance) to ensure your assets go to the right people.
Gather Your Information: Have all your plan documents, a list of your regular doctors, and an estimate of last year’s medical expenses ready. This information will help you make a more accurate and informed choice.
Make Your Choices and Submit: Be mindful of the deadline and submit your final selections on time.
By taking the time to review your options and make informed decisions, you can ensure your benefits package is working for you and your financial well-being. Be sure to reach out to your advisor to discuss any of these items in more detail.
Justin D. Rucci, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2025/09/image-6.png11522048Justin D. Rucci, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJustin D. Rucci, CFP®2025-10-02 08:56:462025-10-02 08:56:52Financial Planning for Open Enrollment: A Guide to Making Smart Choices
The “One Big Beautiful Bill Act” (OBBBA), signed July 4, 2025, is poised to significantly impact nearly every aspect of your financial life. From your tax bill to your healthcare and your children’s future savings, understanding the nuances of this bill is crucial for effective financial planning.
Here’s a breakdown of what the OBBB means for you:
Tax Planning: More in Your Pocket, But Mind the Details
The OBBB makes permanent many of the individual income tax rates and brackets from the 2017 Tax Cuts and Jobs Act (TCJA), providing long-term clarity. But there’s more:
Expanded Standard Deduction: The standard deduction sees a permanent expansion, making tax filing simpler for many and potentially reducing the need to itemize.
Temporary Deductions (2025-2028): Get ready for some new, but temporary, tax breaks.
No Tax on Tips/Overtime: If you earn qualified tip income (up to $25,000) or overtime premium pay (up to $12,500 for individuals, $25,000 for joint filers), you may be able to deduct it. Keep an eye on income phase-outs.
Senior Tax Deduction: Individuals 65 and older meeting income thresholds ($75,000 single, $150,000 joint) can claim an additional $6,000 deduction, aiming to offset federal taxes on Social Security.
Auto Loan Interest Deduction: A temporary deduction of up to $10,000 for interest on loans for U.S.-assembled vehicles is available, subject to income phase-outs.
Increased SALT Deduction Cap: For five years, the State and Local Tax (SALT) deduction cap temporarily increases to $40,000 (from $10,000), with income-based phase-outs. This is a win for residents of high-tax states.
Enhanced Child Tax Credit: The Child Tax Credit permanently increases to $2,200 per child and will be indexed for inflation.
Business Tax Incentives: Businesses will see the reinstatement of 100% bonus depreciation and permanent Section 199A (Qualified Business Income) deduction, encouraging investment.
Estate and Gift Tax Relief: The unified credit and Generation-Skipping Transfer Tax (GSTT) exemption thresholds are permanently increased to $15 million per individual, offering substantial relief for high-net-worth individuals.
Your Action Plan: Review your current tax strategies with a financial advisor to maximize these new permanent and temporary provisions. Consider whether itemizing still makes sense for you.
Healthcare & Social Programs: A Shifting Landscape
The OBBB includes significant cuts to federal funding for vital social programs:
Medicaid Changes: Expect cuts to Medicaid funding and new work requirements for many adult beneficiaries. If you or your loved ones rely on Medicaid, be aware of potential reduced coverage or new eligibility hurdles.
SNAP (Food Assistance) Adjustments: The Supplemental Nutrition Assistance Program (SNAP) also faces federal funding cuts and expanded work requirements.
Affordable Care Act (ACA) Implications: New eligibility verification requirements are imposed for ACA marketplace coverage, and enhanced tax credits for ACA coverage are set to expire. This could lead to higher out-of-pocket premium payments for many, particularly older adults. The CBO estimates these changes could lead to a significant increase in the uninsured population.
Your Action Plan: Reassess your healthcare and benefits planning. Explore alternative options if you’re impacted by changes to Medicaid or ACA, and adjust your budget accordingly.
Retirement & Savings: New Avenues and Program Shifts
The bill introduces both opportunities and challenges for your long-term financial goals:
“Trump Accounts” for Children: A brand-new savings option for newborns. These “Trump Accounts” receive an initial federal contribution of $1,000, with parents able to contribute up to $5,000 annually. Classified as IRAs, gains are tax-deferred until age 18. This is a new consideration for long-term savings for your children.
Student Loan Program Overhaul: Federal student loan programs are undergoing significant alterations, potentially ending subsidized and income-driven repayment options. Limits are also placed on Pell Grant eligibility. Current and future students will need to adjust their education financial planning.
HSA and 529 Expansion: Good news for healthcare and education savings. Eligible uses for Health Savings Accounts (HSAs) and 529 education savings plans are expanded, offering more flexibility.
Social Security Outlook: While the bill provides some temporary tax relief for seniors, its overall impact on the national debt could accelerate the insolvency of Social Security. This is a long-term consideration for retirement planning.
Your Action Plan: Evaluate “Trump Accounts” alongside existing savings vehicles like 529 plans. If you have student loans or are planning for higher education, understand the new repayment and eligibility rules. Review how you leverage your HSA and 529 plans for maximum benefit.
Investment & Business Considerations: Adapting to Policy Shifts
The OBBB also brings changes that could influence your investment portfolio:
Clean Energy Tax Credits: Many clean energy tax credits from the Inflation Reduction Act are being phased out, which may impact investments in renewable energy and electric vehicles.
Fossil Fuel Promotion: The bill promotes increased domestic oil and gas production, which could influence investment strategies in the energy sector.
Your Action Plan: Consider how these policy shifts might affect your investment portfolio. Diversification and a long-term perspective remain key.
Overall Financial Planning Implications: A Holistic Approach
The “Big Beautiful Bill” is a game-changer. It necessitates a comprehensive review of your financial strategy.
Review Tax Strategies: Don’t miss out on new deductions!
Reassess Healthcare and Benefits Planning: Understand potential impacts on coverage and eligibility.
Evaluate Savings Options: Explore new opportunities like “Trump Accounts” and expanded HSA/529 uses.
Update Estate Plans: High-net-worth individuals should revisit their estate plans due to increased exemptions.
Adjust Investment Portfolios: Align your investments with the new economic realities. If you’re a client of ours, we’ve already done this for you.
The “One Big Beautiful Bill” is far-reaching. Given its complexity, consulting with a qualified financial advisor and tax professional is highly recommended to understand how these provisions specifically impact your unique financial situation and to adjust your plans accordingly. Schedule time with a Warren Street advisor today. .
Justin D. Rucci, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2025/07/Big-Beautiful-Bill.png10801080Justin D. Rucci, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJustin D. Rucci, CFP®2025-07-10 12:14:072025-07-10 12:15:13The “Big Beautiful Bill”: What It Means for Your Finances
What should you do if you’ve just received a big bonus at work, inherited some money, sold a business, or come into a financial windfall? Should you invest it all at once, even if the market feels high or low, or take a gradual approach by investing in smaller increments over time?
This is a common question we hear from clients and investors alike. It’s no surprise—deciding how to invest a significant sum of money can feel overwhelming. What if you invest it now and the market drops? Or, what if you wait and the market takes off? It’s natural to worry about making the wrong choice or missing out on potential gains.
Both investing a lump sum immediately and spreading it out over time come with their pros and cons. Let’s explore some key factors to help guide your decision.
Start with Your Goals
Before making any investment decisions, consider your financial goals.
If you need the money for short-term purposes, like upcoming college tuition, the market’s volatility could be a concern. In this case, conservative options like short-term bonds, bond funds, or CDs might be better suited to protect your funds.
For long-term goals, such as retirement, investing in the stock market may be a better choice. Despite short-term fluctuations, the market has historically trended upward over time.
Compare Lump-Sum Investing vs. Dollar-Cost Averaging
Investing a lump sum means your money is fully exposed to the market immediately, allowing you to benefit from any immediate gains if the market is rising. However, since markets are unpredictable, a downturn could occur soon after you invest.
If the risk of short-term losses makes you uneasy, dollar-cost averaging (DCA)—where you invest a fixed amount at regular intervals—might be a more comfortable approach. For instance, you could invest $12,000 by putting in $1,000 monthly over a year. This way, you buy more shares when prices are low and fewer when they’re high, helping you manage the average cost over time.
Keep in mind, though, that research shows lump-sum investing outperforms DCA 68% of the time. If maximizing returns is your main goal, lump-sum investing could be the better option. However, if you’re worried about losses and potential emotional reactions, DCA may be worth the slight reduction in expected returns.
Don’t Wait to Invest
Historically, stocks and bonds outperform cash over the long term, so it’s important to start investing as soon as possible. Holding off is essentially an attempt to time the market, which is notoriously difficult. In 2023, equity fund investor returns trailed the S&P 500 by 5.5%, largely due to market timing efforts.
Both lump-sum investing and DCA help you avoid this pitfall, letting you benefit from the market’s long-term growth. The key is choosing the strategy that aligns with your risk tolerance and long-term plan.
If you’re unsure which strategy is best for you, reach out—we’d be happy to help you decide.
Justin D. Rucci, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2025/04/Lump-Sum.png12602240Justin D. Rucci, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJustin D. Rucci, CFP®2025-04-17 07:16:422025-04-17 07:19:16I’ve Got a Lump Sum in Cash, Should I Invest It Right Away?
As we approach the end of 2024, it’s an opportune time to reflect on the year’s financial developments and consider what 2025 may bring. We believe in understanding both the past and potential future of our economic landscape, which may help inform financial decisions.
This year has brought its share of financial developments, from market fluctuations to policy changes that have shaped the economic environment. Shifts in various sectors, interest rate movements, and global events have influenced financial strategies across the board.
Looking ahead to 2025, we anticipate new opportunities and challenges in the financial world. Our team watches current trends and indicators to provide some insights for the coming year.
In this review, we’ll examine the key financial events of 2024 and their impact and potential implications. We’ll then turn our attention to 2025, offering our perspective on trends that may emerge in the coming months.
Whether you’re a long-standing client or simply interested in staying informed, we believe this overview may provide some insights for your financial strategies as we move into the new year.
Key Economic Factors in 2024
Interest Rates
During the September meeting, the Federal Reserve voted to lower interest rates by 0.5 percent, the first reduction in rates since 2020. While the pivot was long-anticipated, the size of the cut surprised many pundits following the Fed’s all-out fight against inflation launched two years ago. The move, unusual in an election year, brought the benchmark federal funds rate to a range between 4.75% and 5%. Some anticipate the Fed may adjust interest rates again in 2024.1
Inflation
The decision to trim interest rates moved the central bank into a new phase, and preventing further weakening of the U.S. labor market is now an important priority. For most of the past 2½ years, the Fed focused on fighting inflation. With the Consumer Price Index receding from 6.4% in January 2023 to 2.9% this July, the Fed pivoted attention to the softening job market. By comparison, the seasonally-adjusted unemployment rate rose to 4.2% in August, up from 3.7% in January.1
GDP Growth
Real GDP growth rose by 3.0% quarterly annualized in Q2 2024, up from 1.6% in Q1 2024. This increase was led by stronger domestic demand and a surge in inventories. The Conference Board Economic Forecast estimates a 0.8% annualized GDP growth for Q3 and 1% annualized for Q4. With the third and final Q3 GDP estimate due to be released on December 19, attention will shift to Q4 and 2025. Looking into 2025, some economists watch the Atlanta Fed’s GDPNow tool, which gives a running estimate of real GDP growth based on available economic data for the current measured quarter.2
Market Performance
Equity markets have seen strong, if uneven, performance in 2024. As of the end of October, the S&P 500 index was up 19.62% while the Dow Jones Industrial Average rose 10.81%. The tech-heavy NASDAQ increased 20.54%.3
Bonds have also shown volatility in 2024. As of October 31, the total return of the 10-Year Treasury Note was 4.28%.4
Past performance does not guarantee future results. Individuals cannot invest directly in an index. The return and principal value of financial markets will fluctuate as conditions change.
Key Takeaways
Up Markets Can Still Experience Volatility
While equity markets had strong overall performance in 2024, stocks did not go up in a straight line. There were some scary moments for investors, like April 12, when inflation and geopolitical worries saw the Dow Jones Industrial Average slide by 1.24%, the S&P 500 tumble by 1.46%, and the Nasdaq pull back by 1.62%. That bad day for the markets was dwarfed by August 5, when worries about slowing U.S. economic growth caused the Dow to fall more than 1,000 points, or 2.6%, while the broader S&P 500 lost 3% and the Nasdaq fell 3.4%.5,6
As disconcerting as these pullbacks felt at the time, stocks returned to record highs by September. An important lesson from this year is that stocks can, and often do, go down. It’s also critical to know that, on average, stocks have corrected approximately every two years, and that correction typically lasts a few months. Corrections, which are declines of between 10% and 20% from a recent high, can occur for a variety of reasons, including when unexpected news shakes investors’ confidence. Selling investments during a downturn may lock in your losses and lower your potential long-term returns.7
Don’t Fight the Fed
The past year has reinforced the influence the Federal Reserve has over the markets and investor psychology. The Fed held rates steady for much of 2024. It wasn’t until the September meeting that they made an adjustment. Markets reacted to every Fed meeting and Chairman Jerome Powell press conference. With inflation down from its highs (but not yet at the Fed’s 2% target) and employment softening, but not cratering, the Fed may have orchestrated the oft-talked-about “soft landing” for the economy. The lesson learned for next year is to pay attention to what the Fed is doing and remember the old Wall Street saying, “Don’t fight the Fed.”
Markets Shift Focus in an Instant
We all know that stocks can be volatile, but we only seem to care when they are volatile on the downside. Those 24 hours of angst between August 5 and 6, when the Dow dropped more than 1,000 points due in part to angst over the Bank of Japan boosting interest rates at a time when investors were borrowing the yen on the cheap to buy higher-risk stocks and derivatives. I doubt many of us had “Bank of Japan” on our radar, but market psychology can shift abruptly from “it’s all good” to “the sky is falling” without much justification. Focus can flip from concerns over an overheating economy to fears of a job-crushing recession on a dime. One lesson we hope you take away from 2024 is not to let emotions control your investment decisions. A solid financial strategy should be designed to withstand short-term market moves and keep you on track toward your long-term financial goals.9
Artificial Intelligence (AI) is Here to Stay
AI has been a major market story in 2023 and 2024 and shows no signs of slowing. While AI has been advancing for decades, innovations in machine learning have found exciting and extraordinary new use cases in areas from healthcare to manufacturing. One popular chatbot jump-started the current AI interest, reaching 100 million monthly active users just two months after its launch, making it the fastest-growing consumer application in history.8
AI is being seen as the most innovative technology of the 21st century and has the potential to both enhance and disrupt major industries. Innovations in electricity and personal computers unleashed investment booms of as much as 2% of U.S. GDP as the technologies were adopted into the broader economy. Now, investment in artificial intelligence is ramping up quickly and could eventually have an even bigger impact on GDP, according to Goldman Sachs Economics Research.10
The AI lesson to take away from 2024 is that AI is not just focused on a handful of companies. Company interest in AI has already increased rapidly, with more than 16% of enterprises in the Russell 3000 mentioning the technology on earnings calls, up from less than 1% in 2016.10
Asset Allocation is Essential
Asset allocation is an approach to help manage, but not eliminate, investment risk in the event that security prices decline. The strategy involves spreading your investments across a wide range of assets to spread the risk associated with concentrating too heavily on any single investment. Simply put, diversification is the “don’t keep all your eggs in one basket” approach to portfolio construction.
Asset allocation is more than choosing a single investment, like one that is based on the S&P 500 stock index. One of the more significant and concerning trends in recent years has been the rise of market-cap-weighted indexes, which has led to increased concentration in just a few dominant stocks, mostly in the technology sector. Due to their outsized market capitalizations, these stocks, dubbed “The Magnificent 7,” may make up a disproportionate part of some investor portfolios. Another lesson from 2024 is that the downside can be significant when heavily concentrated stocks pull back simultaneously.11
Emergency Preparedness is Always Critical
The year 2024 has shown us that unexpected economic downturns or crises can impact investors without warning. You should consider having an emergency fund to cover living expenses so you aren’t forced to make short-term decisions that could impact your long-term goals. You should also work with a financial professional to discuss risk management strategies that can keep you moving toward your goals.
Prepare for What You Can, Don’t Overreact to What You Can’t
With the presidential election now behind us, potential tax and regulation policy transitions remain. Politically speaking, implementing policy goals and regulations is more challenging than making pledges. Be ready to shift strategies for you, your loved ones, and your heirs if necessary. In other areas, there may be little you can do other than to try not to overreact to what comes down from Washington. Working with financial, tax, and estate professionals can help you navigate what may happen in 2025 and beyond.
Applying Lessons and Looking Forward to 2025
As we reflect on the financial landscape of 2024, it’s clear that the market continues to evolve in response to global events, technological advancements, and economic policies. The lessons from this past year underscore the importance of maintaining a balanced, long-term perspective with your personal finances.
To summarize the key takeaways from 2024:
Market volatility remains a constant, emphasizing the need for diversified portfolios.
The Federal Reserve’s decisions continue to impact market dynamics.
Emerging technologies, particularly AI, are reshaping industries and potentially creating new investment opportunities.
Global events can rapidly shift market focus, reinforcing the value of a well-structured financial strategy.
Looking ahead to 2025, we anticipate continued evolution in the financial sector and are committed to staying on top of these changes and providing you with timely insights and guidance. Our team is dedicated to helping you navigate the complexities of the financial world and working towards your long-term goals.
We will continue to monitor key economic indicators, policy changes, and market trends, sharing our analysis through our regular blog posts and communications. Our aim is to provide you with the information and support you need to make informed financial decisions in the coming year and beyond.
Remember, personal finance is a collaborative effort. While we provide the insights, your personal goals and circumstances are at the heart of every strategy we develop. We encourage you to reach out to us with any questions or concerns as we move into 2025.
Thank you for your continued trust in our team. We look forward to guiding you through another year of financial opportunities and challenges.
Bryan Cassick, MBA, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
3. Yahoo.com, October 31, 2024. The S&P 500 Composite Index is an unmanaged group of securities considered to be representative of the stock market in general. Past performance does not guarantee future results. Individuals cannot invest directly in an index. 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.
4. Yahoo.com, October 31, 2024. U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid.
As the year winds down, the hustle and bustle of the season can leave little room for financial reflection. But taking some time to review your finances now can help you close out the year on a strong note—and get your new year off to a great start.
Here are some key items to consider before December 31 rolls around:
Unstick Your Cash … and Put It to Work
We all try to make the best decisions we can around money, but we’re not perfect. Despite our best efforts, we can miss things from time to time.
Consider the “flypaper effect.” Jason Zweig, of The Wall Street Journal,uses the term to describe how money has a tendency to stick where it lands, even when we had other ideas for where it should end up. For many, this can happen when rolling over their employer-sponsored 401(k) retirement account into a personal IRA. According to research from Vanguard, nearly a third of savers who transferred their 401(k) balances into IRAs in 2015 still had those funds sitting in cash seven years later. This inertia can be costly. Vanguard estimates that cash-heavy IRAs cost Americans $172 billion annually in missed growth opportunities.
As the end of the year approaches, take some time to review all your accounts to make sure all your savings have landed where you wanted them.
It’s also okay—and in fact, often wise—to keep some money in cash, such as an emergency fund. But even these accounts are worth a review. If cash in your emergency fund is just sitting in a basic, zero-interest checking account, consider placing it in a money market, high-yield savings, or similar FDIC-backed account. There, the money should remain safe and readily accessible, while still offering a bit of interest income—especially while interest rates are still relatively high.
Stay Updated on Retirement Account Rules
Typically, any required minimum distributions (RMDs) from your own or an inherited retirement account are due by year-end—so there’s no time to waste if you’ve not yet made any RMDs due. However, there are new rules for 2024 that could delay, or even eliminate, the need to make an RMD. As always, we recommend consulting with a tax specialist before taking any tax-planning action.
Roth 401(k) changes: Starting in 2024, RMDs are no longer mandatory for Roth 401(k) accounts. This was already true of Roth IRAs. If you don’t need income from your Roth 401(k) this year, leave it alone and let your savings continue to grow tax-free for as long as you like.
New spousal IRA benefits: If a younger spouse with an IRA passes away, the surviving spouse can now delay RMDs until the deceased would have turned 73. This allows for more years of tax-deferred growth, which can make a big difference in retirement savings over time.
RMD age increasing: For younger investors looking ahead, the age for RMDs will rise to 75 in 2033, again providing more time for tax-deferred growth as well as more flexibility in withdrawal strategies.
Maximize Your Gifts to Charity with Higher QCD Limits
December is a peak time for charitable giving. It’s the holidays, after all, and giving offers a meaningful way to support causes you care about while potentially reducing your 2024 tax bill.
If you have RMDs due, one way to participate in tax-wise year-end giving is to replace some or all of your RMDs with qualified charitable distributions (QCDs) from your IRA directly to charity. This year, you may give up to $105,000 in QCDs, according to the IRS. This in turn, can lower or eliminate your RMDs, which would otherwise have been taxed at ordinary income rates. Lowering your reportable income may also help you avoid being pushed into a higher income tax bracket or subject to other tax deduction phaseouts.
Important Date Reminders
Some best practices are perennial, including keeping an eye on important dates. Naturally, there are a number of deadlines associated with year-end. For those who are itemizing deductions, it’s the deadline for 2024 tax-deductible charitable contributions. It’s also the last day you can fund your 401(k). You can contribute up to $23,000 in a 401(k) this year, and next year that limit increases to $23,500. Catch-up contributions for 401(k)s for individuals aged 50 and older is $7,500 for 2024. It will remain that way in 2025, but there will also be a higher catch-up contribution limit of $11,250 for those aged 60 through 63.
IRAs and health savings accounts allow you to make 2024 contributions up until April 15, 2025. You’ve got a little bit of time, but the sooner you invest, the quicker you can put your money to work and take advantage of the power of compounding returns.
Rest and Recharge
While financial planning is essential, don’t overlook the importance of self-care. Amid the year-end flurry, a good night’s sleep might be one of the best investments you can make in your overall well-being, especially during the holidays. In fact, research suggests that better sleep health can reduce loneliness, spark stronger social connections, and foster positive emotional experiences.
And if it’s not better sleep, please take some time for yourself, whether it’s curling up with a good book, having dinner with friends, or taking a long walk with the dog. After all, one of the most important reasons we put so much effort into financial well-being is so we can build a more fulfilling life for ourselves and the ones we love.
Wondering how else you can wind down 2024 and prepare for a fruitful 2025? Reach out and let’s talk.
Justin D. Rucci, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2024/12/Your-2024-Year-End-Planning-Guide.png10801080Justin D. Rucci, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJustin D. Rucci, CFP®2024-12-18 07:06:002024-12-16 18:06:41Your 2024 Year-End Planning Guide
With election day over, many are reflecting on what this new leadership might mean for their financial future and the country. While elections can stir strong emotions, it’s important to remember that, historically, markets have been influenced more by economic fundamentals than by which party is in power.
As this chart shows, while the stock market has fluctuated under presidents of both parties, the S&P 500 has trended higher over the long term, no matter who’s sitting in the Oval Office.1
Long-Term Trends: The stock market, as represented by the S&P 500, has generally trended higher over the long term, regardless of which party holds the presidency.
Company Growth: The dynamic U.S. economy has consistently produced successful companies, contributing to economic strength under various administrations.
Market Priorities: Factors like earnings growth, economic conditions, and technological advancements can have more influence on market performance than political changes.
Investor Focus: Your investment strategy should align with your goals, time horizon, and risk tolerance—not the outcome of a single election.
While elections do have consequences, it’s important to keep perspective. In the meantime, we’ll be closely monitoring how the new administration’s agenda might impact areas like tax policy, regulations, and corporate competitiveness. Market reactions to political shifts can create short-term volatility, but these fluctuations can be temporary.
As always, the key is to stay focused on your financial goals. Sudden moves in response to short-term events might be more detrimental than beneficial. We’re here to help you navigate any uncertainty while pursuing your overall financial strategy.
If you have questions about how current events could impact your investments or want to discuss your financial strategy, feel free to reach out.
Bryan Cassick, MBA, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
Stocks are measured by the Standard & Poor’s 500 Composite Index, an unmanaged index considered representative of the overall U.S. stock market. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results. Individuals cannot invest directly in an index. Stock price returns and principal values will fluctuate as market conditions change. Shares, when sold, may be worth more or less than their original cost.
We’re heading toward another contentious presidential election in the United States. If you’re on edge in this political climate, you’re not alone.
We don’t want your valid political qualms to lead you to make financial missteps. That’s why we’ve compiled four essential tips to help you maintain a level head and effectively manage your financial future in the face of political uncertainty.
1. Look at the History
Despite the month-long parade of anxiety-inducing headlines that typically precede a national election, recent history shows that elections rarely cause significant upset to financial markets.
In evaluating data from the past five presidential elections, short-term volatility does occur in the days and weeks immediately before and after the election. But those fluctuations fade quickly, and the market reverts to whatever trajectory it was already on.*
2. Enhance Your Media Literacy
In the coming months, headlines will likely try to tie every newsworthy event — big and small — into the 2024 election. While that will include financial news, it’s important to remember that small events typically don’t drive markets.
Instead, macro events move the needle. The subprime mortgage crisis sparked the Great Recession. A once-in-a-century pandemic set off economic upheaval in 2020. Be wary of headlines that try to convince you the economic world is falling off its axis because of an event that is ultimately micro in scale.
To navigate stories around the upcoming election it helps to increase your media literacy. Some sources cultivate panic or anger to drive more views, clicks, and revenue.
Use these tactics to evaluate the trustworthiness of a story:
Scrutinize the source. Does the individual or organization have the credentials to speak on the topic?
Question the melodrama. Is any emotion in the piece necessary, or is it a tactic to elicit a specific response or manipulate the reader?
Examine the tone. Look for words that are designed to provoke emotional reactions.
Consider the motive. Is the information neutral and purely informative, or is there a self-serving angle to the piece?
Check the facts. Is the piece based on facts or opinions? If information is being presented as factual, can you independently verify it with a reputable third party?
3. Keep Calm and Invest On
Advisors preach this all the time, but it bears repeating during a stressful news cycle: Staying invested is one of the most beneficial things you can do for your financial future.
The stock market has averaged a 10% rate of return over the past 50 years — a period that includes stagflation, the ’79 energy crisis, the dot-com bubble, the Great Recession, and Covid-19.** Those who have remained invested regardless of the economic ups and downs have seen their money grow thanks to compounding.
Instead of letting external economic forces influence your decision, look inward. Remaining focused on your personal long-term financial goals can help you stick to the plan you and your advisor have created.
4. Turn To Your Advisor for Support
If you’re struggling to maintain your serenity, reach out to your advisor. The economic chatter can be stressful and advisors are committed to helping you tune out the noise and remain focused.
Advisors can help you by:
Contextualizing economic headlines. Advisors spend a lot of time tracking trends and watching markets. They can fill in critical blanks when you encounter a news story that sounds scary.
Running stress tests. Advisors use technology to help us create hypothetical projections so they can better understand potential upside and downside risk in various macroeconomic scenarios. If you have a particular concern about a macro force, they can run that stress test on your portfolio and walk you through the results.
Revisiting your financial plan. Advisors are here to help you keep a level head and stay focused on what matters. They can walk through your plan together and review projections to inspire you to stay the course.
Feel free todownload this guideand share it with your friends, so they too can benefit from these strategies for navigating market uncertainty during election season.
If you’re feeling uncertain or have questions about how the current events may impact your investments, don’t hesitate to reach out. We’re here to provide guidance, offer perspective, and help you stay focused on your long-term financial goals.
Warren Street Wealth Advisors
Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2024/10/4-Tips-for-Navigating-the-Markets-During-Election-Season-3.png10801080Warren Street Teamhttps://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgWarren Street Team2024-10-22 08:03:002024-11-07 15:27:584 Tips for Navigating the Markets During Election Season
A small slice of equity compensation can boost your income, while a larger slice might bring a significant financial windfall. However, luck and careful management play crucial roles. Balancing the risks and rewards of your equity compensation is essential. Understanding how it fits into your overall financial plan can help you maximize benefits and avoid concentration risk—the danger of having too much wealth in one stock.
Equity Compensation Basics
Equity compensation comes in various forms, such as stock options, restricted stock units, or employee stock purchase plans. The equity package you receive might come with a vesting schedule, which determines how quickly you’re able to take ownership of your shares. For companies, these vesting schedules accomplish an important goal: They help keep you around longer.
Understanding every part of your equity compensation package is essential. This includes vesting rules, types of shares, expiration dates for exercising stock options, and tax implications. Missing an expiration date can mean losing the chance to buy company stock at a discount, and knowing the tax details can help you manage your tax burden and retain more of your hard-earned equity. While you don’t need to master every detail, it’s crucial to understand your equity compensation offer.
At Warren Street, we guide clients through the wealth-building potential of their executive compensation packages. We help you maximize opportunities, integrate the package with your broader financial goals, and collaborate with other resources. For example, your company’s HR department or benefits administrator can provide details, your accountant can advise on taxes, and a lawyer can help with legal aspects and estate planning related to your equity compensation.
Understanding the Risks of Equity Compensation
One downside of equity compensation is that it can tie up a large portion of your wealth in a single stock. This is known as concentration risk.
Not all risk is bad. In fact, a foundational part of investing is taking on risk in exchange for potentially higher returns. This is systemic risk—the risk inherent in the financial markets at large. However, concentration risk means your wealth is closely tied to one company’s performance, posing significant danger if the company faces issues like scandals or competitive disruptions.
Relying on your employer for income and savings can be risky. If the company performs poorly, you could lose both your job and a significant part of your wealth. For example, during the 2020 pandemic, ridesharing company stock prices tended to lose value as ridership plummeted. These companies laid off thousands of workers, and employees lost both jobs and equity value.
“But” you may counter, “I know my own company, and I’m confident its future is bright.” This is a common reaction—and may be a sign you’re falling into a common behavioral tendency known as familiarity bias. It can lead you to the false assumption that your own company is safer, and your familiarity may actually be keeping you from making a level-headed investment decision. Instead, lean on objective data and research rather than feelings to inform your investment decisions.
Solving Concentration Risk
Minimize concentration risk by diversifying, carefully divesting company shares, and investing in broad market funds. This approach smooths out volatility, maximizes long-term returns, and manages systemic risks.
If you work for a privately held company, selling your shares can be more tricky—and perhaps not possible. In that case, we can help you explore options to reduce risk. For example, that may mean building a larger emergency fund to give you more protection from the unexpected or exploring financial strategies to hedge your equity position.
No matter your equity compensation package, you don’t have to navigate its complexities alone. Contact us to discuss your options and maximize your financial potential.
Bryan Cassick, MBA, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2024/08/Equity-Compensation-Opportunities-Risks.png10801080Bryan Cassick, MBA, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgBryan Cassick, MBA, CFP®2024-09-05 08:07:002024-11-07 09:16:54Equity Compensation: Benefits and Risks You Need to Know
In the first installment of our Young Investor’s Guide to Building a Financial Future, we looked at avoiding credit card debt to set you off to a healthy start, the benefits of investing over the long term and the advantages of doing so in a retirement account, such as a 401(k) or IRA.
In the second part of this two-part series, we discuss three more investment concepts every young investor may want to embrace:
The importance of diversification
The dangers of market timing and stock picking
The benefits of investing according to a plan that fits your personal goals
Get Diversified
Short-term market swings can challenge even the most resilient investors. However, history shows that over the long term, markets tend to smooth out and trend upward. Diversifying your investments involves spreading risk across various types of assets, not just increasing the number of holdings.
While this may make intuitive sense, many investors come to us believing they are well-diversified when they are not. They often hold numerous stocks or funds across multiple accounts, yet upon examination, their portfolios are heavily skewed towards large U.S. companies or narrow market sectors. Diversification is effective because various investments respond differently to market shifts. When one falters, others may thrive, balancing overall portfolio performance. However, if holdings are too similar, the benefits of diversification diminish over time.
In short:
Investing in a wide range of assets from different sectors, sizes, and geographies can create a robust portfolio that is better equipped to handle market fluctuations over time.
Avoid Speculating
Focusing on broad market indices helps avoid detrimental speculative behaviors that can harm long-term returns.
Market timing—buying and selling stocks based on breaking news and short-term market movements—often turn out poorly. Because you’re typically buying into hot trends and selling when conditions are scary, you end up buying when prices are high or selling when prices are low. In both cases, that behavior can significantly impact savings and hinder financial goals
In fact, research consistently shows that investors’ attempts at market timing generally underperform broader indices like the S&P 500, with average equity fund investors trailing by approximately 5.5% in 2023 due to poor timing decisions according to a long-running annual survey of investor behavior by DALBAR.
Similarly, stock picking can reduce diversification and increase concentration risk, where a few stocks can heavily influence your portfolio’s performance. Investors are typically rewarded for taking on systematic risk, or risk inherent to the entire market. Concentration risk is not systematic. It is specific to individual stocks and doesn’t reliably yield rewards. Holding a significant portion of your portfolio in a few stocks exposes you to outsized impacts; for example, a single company’s bankruptcy could lead to substantial losses.
It’s also exceedingly difficult to pick stocks that will outperform the broader market over time. In 2023, over 70% of companies in the S&P 500 Index underperformed the index. These results vary from year to year. But since a handful of companies often drive most of the stock market’s returns, choosing just when to sell the future losers and buy the next big winners can end up becoming an impossible—and often losing—game.
In short:
Timing the market can lead you to buy stocks when they’re expensive and lock in losses by selling during downturns. When it comes to stock picking, it’s exceedingly difficult to pick single stocks that will be winners, and holding concentrated stock positions can introduce uncompensated risk to your portfolio. Instead, build a diversified portfolio as part of your long-term financial plan.
Follow a Plan That Fits Your Goals
So how should you divide up your diversified investments? Start with your asset allocation, which is how your portfolio is spread among asset classes including stocks, bonds and cash. Then base your asset allocation on your personal goals, tolerance for risk and the length of time you have to invest.
In short:
Build your portfolio based on your personal goals, risk tolerance and time horizon rather than chasing or fleeing hot or cold investments or focusing on generalized rules of thumb.
Interested in learning more about how to take the first steps toward meeting your personal financial goals? Reach out to set up a time, and let’s talk.
Bryan Cassick, MBA, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2024/06/Young-Investor-Guide-Part-2.png10801080Bryan Cassick, MBA, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgBryan Cassick, MBA, CFP®2024-08-01 09:05:172024-08-01 09:05:22Young Investor’s Guide to Building a Financial Future—Part 2: Investing for Your Goals
