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What Is An HSA And How Do I Know If I Should Use One?

If you have ever reviewed health insurance options during open enrollment, you may have come across the term HSA. For some individuals and families, a Health Savings Account can be a useful way to set aside money for qualified medical expenses while also considering future healthcare costs.

But what exactly is an HSA, who is eligible to use one, and how does it fit into a broader financial plan?

Understanding the basics can help you evaluate how an HSA may relate to your healthcare expenses, tax planning considerations, and long-term financial goals.

What Is An HSA?

A Health Savings Account (HSA) is a tax-advantaged savings account designed to help eligible individuals save and pay for qualified medical expenses.

HSAs are available only to individuals who are enrolled in a qualifying High Deductible Health Plan (HDHP) and meet other eligibility requirements established by the IRS.

Funds contributed to an HSA belong to the account owner and can generally be used to pay for qualified healthcare expenses for themselves, their spouse, or eligible dependents.

How Does An HSA Work?

An HSA allows eligible individuals to contribute money to a dedicated account that can be used for qualified medical expenses.

Depending on the plan and employer, contributions may come from:

  • The employee
  • The employer
  • A combination of both

Unlike some healthcare spending accounts, HSA funds generally remain in the account from year to year and do not expire if they are not used.

This means account balances can continue to accumulate over time and remain available for future healthcare expenses.

What Are The Potential Tax Advantages Of An HSA?

One reason HSAs receive attention in financial planning discussions is because of their potential tax advantages.

In general:

  • Contributions may be tax-deductible if eligibility requirements are met
  • Earnings within the account may grow tax-deferred
  • Withdrawals for qualified medical expenses are generally tax-free

Because tax laws can change and individual circumstances vary, individuals should consult with qualified tax professionals regarding their specific situation.

What Expenses Can An HSA Be Used For?

HSA funds can generally be used for a variety of qualified medical expenses.

Examples may include:

  • Doctor visits
  • Prescription medications
  • Dental care
  • Vision care
  • Certain medical equipment
  • Other qualified healthcare expenses defined by the IRS

Using HSA funds for non-qualified expenses may result in taxes and penalties depending on the account holder’s age and circumstances.

Can An HSA Be Used As Part Of Long-Term Financial Planning?

For some individuals, an HSA may become part of a broader financial strategy because healthcare expenses often continue throughout retirement.

Medical costs can include:

  • Medicare premiums
  • Prescription medications
  • Dental and vision expenses
  • Long-term healthcare needs
  • Other out-of-pocket medical costs

Because unused HSA balances generally remain available year after year, some individuals choose to view the account as one component of their long-term healthcare planning strategy.

However, whether an HSA is appropriate depends on individual circumstances, healthcare needs, eligibility requirements, and overall financial goals.

Who May Want to Learn More About an HSA?

An HSA may be worth exploring for individuals who:

  • Are enrolled in a qualifying High Deductible Health Plan
  • Want to better understand healthcare savings options
  • Are planning for future medical expenses
  • Are reviewing retirement healthcare considerations
  • Are evaluating different employee benefit options

Because eligibility requirements apply, not everyone will qualify for an HSA.

Is An HSA Right For Everyone?

HSAs can be a valuable tool for some individuals, but they are not the right fit for every situation.

Factors that may influence whether an HSA makes sense include:

  • Healthcare needs
  • Insurance coverage options
  • Cash flow considerations
  • Family circumstances
  • Long-term financial goals
  • Retirement planning objectives

Because every financial situation is different, healthcare savings decisions are often most effective when considered within the context of a broader financial plan.

How Advisors Management Group Can Help

Healthcare expenses are often an important part of long-term financial planning. Whether you are evaluating employee benefits, preparing for retirement, reviewing healthcare costs, or considering how different savings vehicles fit into your overall strategy, it can be helpful to understand how these decisions connect to your broader financial goals.

At Advisors Management Group, our team works with clients to develop personalized financial plans that consider retirement planning, healthcare expenses, cash flow, investment management, tax considerations, and other long-term financial priorities.

Contact Advisors Management Group

If you would like to discuss your financial goals or have questions about your current strategy, please contact us.

Our experienced team works with clients to develop personalized financial plans that take into account retirement planning, cash flow, investment management, education savings, inheritance considerations, healthcare planning, and other long-term financial goals.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

Grandparents, parents, and young children smiling and laughing while enjoying a summer picnic.

Financial Planning Considerations By Life Stage

It is common to wonder whether your finances are where they “should” be by a certain age. Questions around saving, retirement planning, debt, homeownership, family expenses, and long-term goals can look different depending on your stage of life.

While age can provide a helpful framework for thinking about financial planning, it should not be viewed as a strict checklist. Everyone’s financial situation, timeline, and priorities are different.

Instead, financial planning by life stage can help identify which topics may be most relevant based on where you are now and what you may be preparing for next.

Early Career and Young Adulthood

For many individuals, early adulthood is focused on building a financial foundation.

Common financial considerations may include:

  • Creating a budget and tracking expenses
  • Building emergency savings
  • Managing student loan debt
  • Establishing and maintaining good credit
  • Beginning retirement contributions through an employer-sponsored plan or IRA
  • Evaluating workplace benefits

While retirement may feel distant during this stage, some individuals choose to begin saving early and consistently to support long-term goals.

Family Building and Mid-Career Years

As careers progress and family responsibilities grow, financial priorities often become more complex.

This stage may include:

  • Purchasing a home
  • Raising children
  • Saving for education expenses
  • Reviewing life and disability insurance needs
  • Increasing retirement contributions as income grows
  • Managing debt while balancing multiple financial goals

Many households find themselves navigating competing priorities during this phase of life, making periodic financial reviews especially important.

Pre-Retirement Planning

As retirement becomes more visible on the horizon, many individuals begin taking a closer look at their long-term financial picture.

Planning considerations may include:

  • Reviewing retirement account balances and contribution levels
  • Taking advantage of catch-up contribution opportunities, if eligible
  • Evaluating healthcare and Medicare planning
  • Reducing debt
  • Reviewing estate planning documents
  • Considering future income needs and retirement timing

This stage often provides an opportunity to evaluate whether current financial strategies continue to support future retirement goals.

Retirement And Beyond

Retirement planning continues well after an individual leaves the workforce.

Common considerations may include:

  • Developing a retirement income strategy
  • Understanding Medicare coverage and healthcare expenses
  • Reviewing Social Security claiming options
  • Planning for required minimum distributions (RMDs), if applicable
  • Evaluating long-term care considerations
  • Reviewing estate and legacy planning goals

As financial priorities evolve, periodic reviews can help ensure financial decisions continue to align with personal goals and changing circumstances.

Life Events Often Matter More Than Age

While age can provide helpful context, major life events frequently have a greater impact on financial planning decisions.

Examples may include:

  • Marriage or divorce
  • Career changes
  • Starting a business
  • Receiving an inheritance
  • Caring for aging parents
  • Becoming an empty nester
  • Relocating
  • Health-related changes

These transitions can influence financial priorities regardless of whether they occur at age 30, 50, or 70.

Financial Planning Is Personal

General milestones and financial benchmarks can provide a starting point for discussion, but they do not tell the whole story.

Financial planning is not about checking off a list by a certain age. It is about understanding your current circumstances, identifying your goals, and making decisions that support those goals over time.

Because every individual and family has different priorities, a financial plan should reflect those unique circumstances rather than a one-size-fits-all approach.

Creating A Financial Roadmap For Every Stage Of Life

Financial planning is most useful when it reflects real life. Goals change, families grow, careers shift, retirement gets closer, and priorities evolve over time.

At Advisors Management Group, our team works with clients to understand where they are today, what they are planning for, and how different financial decisions connect. From retirement income and college savings to cash flow, investments, taxes, inheritance considerations, and long-term goals, a financial plan can help bring these pieces together into one personalized roadmap.

Whether you are building your first plan or reviewing an existing one, regularly revisiting your financial strategy can help ensure it continues to reflect your current needs and future priorities.

Contact Advisors Management Group

If you would like to discuss your financial goals, review your current financial plan, or learn more about Advisors Management Group’s financial planning services, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

Elderly couple embracing while on a walk in an affulent neighborhood.

Financial Considerations For Empty Nesters

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When children move out of the house, it can mark a major transition for many families. Along with lifestyle changes, this stage of life may also bring shifts in financial priorities, household expenses, and long-term planning considerations.

For some households, becoming an empty nester creates additional financial flexibility. For others, it may highlight new decisions around retirement planning, supporting adult children, housing needs, or future financial goals.

Because every family situation is different, this stage often becomes a time to revisit how current financial decisions align with both short-term needs and long-term priorities.

Reevaluating Household Expenses

One of the more immediate changes for many empty nesters is a shift in monthly expenses.

Costs related to groceries, utilities, transportation, activities, and day-to-day household spending may change once children leave home. In some cases, families may also see a reduction in education-related expenses or other ongoing financial commitments.

Reviewing current spending habits can help provide a clearer picture of:

  • Monthly cash flow
  • Savings opportunities
  • Debt repayment priorities
  • Retirement contributions
  • Future financial goals

For some households, this stage may create more room to redirect funds toward retirement savings, travel, future healthcare planning, or other priorities.

Revisiting Retirement Planning

As children become financially independent, some individuals begin focusing more closely on their own retirement timeline and long-term financial plans.

This may include reviewing:

  • Retirement account contributions
  • Investment allocations
  • Income needs in retirement
  • Healthcare planning
  • Social Security timing considerations
  • Long-term spending goals

A change in household responsibilities may also create an opportunity to evaluate whether current retirement goals and timelines still align with overall financial priorities.

Considering Downsizing Or Housing Changes

For some empty nesters, housing needs may begin to shift once children move out.

While some families choose to remain in their current home long-term, others may begin considering:

  • Downsizing
  • Relocating
  • Reducing maintenance responsibilities
  • Moving closer to family
  • Purchasing a second home
  • Preparing for retirement living arrangements

Housing decisions often involve both financial and lifestyle considerations, making it important to evaluate how these choices fit into broader long-term plans.

Supporting Adult Children

Even after children become independent, financial support may still remain part of the conversation for many families.

This can include:

  • Assistance with student loans
  • Helping with housing costs
  • Wedding expenses
  • Career transitions
  • Grandchildren-related expenses
  • Emergency financial support

For some parents, balancing support for adult children while continuing to prioritize retirement goals may become an important planning consideration.

Shifting Financial Priorities

Becoming an empty nester can also create space to revisit broader financial goals and personal priorities.

Some individuals may focus more heavily on:

  • Retirement preparation
  • Travel or lifestyle goals
  • Estate and legacy planning
  • Charitable giving
  • Long-term healthcare planning
  • Building additional savings

Financial priorities often evolve during different stages of life, and this transition may provide an opportunity to reassess how financial decisions support both current and future goals.

Planning For The Next Stage

While becoming an empty nester can bring significant changes, it may also create an opportunity to revisit financial plans with a different perspective.

Reviewing spending habits, retirement goals, housing considerations, and long-term priorities can help individuals better understand how this next stage fits into their overall financial picture.

Contact Advisors Management Group

If you would like to discuss your financial goals or have questions about your current strategy, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

A couple sitting at their coffee table looking at financial documents and using a calculator.

Mid-Year Financial Check-In

The middle of the year can be a useful time to revisit financial goals and evaluate how the year has gone so far. While financial planning is often associated with year-end decisions or tax season, a mid-year check-in can provide an opportunity to review progress, adjust priorities, and prepare for the second half of the year.

Financial situations and goals can change throughout the year. Expenses may shift, income may change, or new priorities may arise. Taking time to review different areas of a financial plan can help create a clearer picture of where things currently stand and whether any adjustments may be needed moving forward.

Reviewing Savings Goals

Mid-year can be a good time to revisit savings progress and determine whether current contributions still align with overall goals.

This may include:

  • Emergency savings
  • Retirement contributions
  • Education savings
  • Upcoming large purchases
  • Travel or seasonal expenses

For some households, the first half of the year may include unexpected expenses or lifestyle changes that impact savings habits. Reviewing contributions mid-year may help identify areas where adjustments could be considered before the year ends.

Evaluating Retirement Contributions

Retirement planning is often an ongoing process rather than a one-time decision. A mid-year review may help individuals better understand how current retirement contributions fit within their broader financial picture.

This can include reviewing:

  • Employer-sponsored retirement plan contributions
  • IRA contributions
  • Contribution limits
  • Changes in income or employment
  • Long-term retirement goals

For some individuals, adjusting retirement contributions throughout the year may be appropriate depending on changes in priorities, expenses, or financial circumstances.

Revisiting Spending Habits And Budgeting

Budgeting needs can also shift throughout the year. Summer activities, travel, home projects, education expenses, or changing household costs may all impact spending patterns.

A mid-year review can provide an opportunity to look at:

  • Monthly spending habits
  • Recurring expenses
  • Debt payments
  • Short-term financial priorities
  • Areas where spending has increased or changed

Rather than focusing on strict budgeting rules, this type of review is often about understanding how current spending aligns with overall financial goals and priorities.

Reviewing Changes In Financial Priorities

Financial goals are not always static. Major life events or changing family needs may influence financial planning decisions throughout the year.

This could include:

  • Career changes
  • Marriage or divorce
  • A new child or growing family
  • Preparing for retirement
  • Supporting adult children or aging parents
  • Healthcare considerations
  • Estate or legacy planning discussions

Taking time to revisit financial priorities periodically can help ensure that financial decisions continue to reflect current circumstances and long-term goals.

Preparing For The Rest Of The Year

The second half of the year may also bring additional financial considerations, including:

  • Holiday spending
  • Education-related expenses
  • Charitable giving
  • Tax planning opportunities
  • Required minimum distributions
  • Insurance reviews

Reviewing these items ahead of time may help reduce the need for rushed financial decisions later in the year.

Financial Planning Is Ongoing

Financial planning is often less about making one major decision and more about regularly revisiting goals, priorities, and changing circumstances over time.

A mid-year financial check-in can serve as an opportunity to pause, review progress, and consider whether any adjustments may be appropriate before the end of the year.

Contact Advisors Management Group

If you would like to discuss your financial goals or have questions about your current strategy, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

A couple holding financial documents in an empty room while house shopping.

Financial Considerations Before A Major Purchase

Major purchases often represent more than just a single financial decision. Whether purchasing a home, renovating a property, buying a vehicle, or making another large financial commitment, these types of decisions can affect both short-term cash flow and long-term financial goals.

Because large purchases often involve ongoing costs beyond the initial price tag, taking time to evaluate the broader financial impact may help individuals better understand how these decisions fit into their overall financial picture.

While every situation is different, reviewing key financial considerations ahead of time can help support more informed decision-making.

Looking Beyond The Purchase Price

One of the most important considerations before making a major purchase is understanding the full cost involved.

In addition to the initial expense, ongoing costs may include:

  • Maintenance and repairs
  • Insurance
  • Property taxes
  • Financing costs
  • Utilities
  • Registration or licensing fees
  • Storage expenses
  • Association or membership fees

For some purchases, these ongoing costs may continue long after the original transaction and become part of regular monthly or annual spending.

Reviewing how these expenses may fit within an existing budget can help individuals better understand the long-term financial commitment involved.

Evaluating Cash Flow and Savings

Major purchases can also affect cash flow, savings goals, and financial flexibility.

Before making a significant financial decision, some individuals may review:

  • Current emergency savings
  • Monthly income and expenses
  • Existing debt obligations
  • Upcoming large expenses
  • Retirement contributions
  • Short-term savings goals

In some cases, individuals may choose to delay a purchase or adjust spending priorities depending on how the expense could impact other financial objectives.

Considering Financing Options

For purchases involving financing, reviewing loan terms and repayment obligations may also become an important part of the planning process.

This may include evaluating:

  • Interest rates
  • Monthly payment amounts
  • Loan length
  • Down payment considerations
  • Total borrowing costs
  • How payments fit within existing financial obligations

Financing decisions may also affect future financial flexibility, particularly when balancing other priorities such as retirement planning, education savings, or healthcare expenses.

Balancing Lifestyle Goals and Long-Term Planning

Major purchases are often connected to lifestyle goals and personal priorities.

For example:

  • A second home may support retirement or travel plans
  • A vehicle purchase may relate to changing family or work needs
  • A home renovation may improve long-term living arrangements or increase your home’s resale value

At the same time, these decisions may also influence longer-term financial planning considerations.

Balancing lifestyle goals with retirement planning, savings priorities, and future expenses can help individuals better understand how large purchases fit into their broader financial plans.

Planning for Unexpected Costs

Unexpected expenses can sometimes arise during or after a major purchase.

Construction delays, rising material costs, repairs, maintenance issues, or changes in financial circumstances may all affect the overall cost of a project or purchase.

Because of this, some individuals may choose to maintain additional financial flexibility or emergency savings before moving forward with a significant expense.

Reviewing Long-Term Priorities

Large financial decisions may also create an opportunity to revisit broader financial goals and priorities.

This can include reviewing:

  • Retirement timelines
  • Investment strategies
  • Estate planning considerations
  • Insurance coverage
  • Family support goals
  • Long-term spending plans

Rather than viewing a major purchase as an isolated decision, some individuals may find it helpful to evaluate how the expense fits within their larger financial picture.

Taking a Long-Term View

Major purchases often involve both financial and personal considerations. Taking time to review the potential long-term impact of these decisions may help individuals better understand how current expenses align with future goals and priorities.

Because financial circumstances and priorities can change over time, planning ahead may help create greater clarity before making significant financial commitments.

Contact Advisors Management Group

If you would like to discuss your financial goals or have questions about your current strategy, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

Elderly couple with their arms around each other walking on the beach.

Summer Vacation Planning For Retirees

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For many retirees, travel becomes a more flexible part of how they choose to spend their time. Summer can bring a mix of longer stays, more frequent trips, and time spent visiting family, often with fewer constraints around timing or duration than in earlier stages of life.

While the ability to travel may increase in retirement, how those decisions are made can look different than they did before. Without the structure of a work schedule, timing, frequency, and length of trips may become more personal and less dictated by external factors.

Travel Looks Different In Retirement

Before retirement, travel is often planned around limited vacation time. Trips may be shorter, scheduled well in advance, and built around fixed calendars.

In retirement, that structure often changes.

Travel may become more spread out over the year, or in some cases, more concentrated during certain seasons. Some retirees may choose longer stays, while others prefer shorter, more frequent trips. Visiting family may also become a more central part of travel plans.

The shift is not necessarily about traveling more, but about having more flexibility in how and when travel takes place.

Timing And Flexibility

One of the more noticeable changes in retirement is the ability to travel at different times.

Summer may still be a popular season, especially when coordinating with children and grandchildren. At the same time, retirees may also have the flexibility to travel outside of peak times, depending on their preferences.

This added flexibility can influence how trips are planned, how long they last, and how they fit alongside other priorities throughout the year.

Travel As Part Of An Ongoing Plan

In retirement, travel is often one of several ways people choose to spend their time and resources.

Larger trips, seasonal travel, and time spent with family can all play a role. Rather than being a one-time decision, these choices often unfold over time and alongside other priorities.

For many retirees, travel becomes less about a single event and more about how it fits into the rhythm of the year.

Balancing Travel With Other Priorities

Even for retirees with established financial plans, travel decisions still exist alongside other considerations.

These may include ongoing living expenses, healthcare, family support, and long-term goals. Travel does not replace these priorities, but instead becomes one part of how time and resources are used.

Because of this, travel decisions may look different from year to year, depending on circumstances, preferences, and timing.

A Different Way Of Thinking About Time

One of the more significant changes in retirement is how time is viewed.

Without a fixed work schedule, decisions around travel often become less about fitting into a limited window and more about how time is chosen to be spent. This can influence not only where and when retirees travel, but how frequently and for how long.

For many, this shift allows travel to feel less rushed and more integrated into everyday life.

Planning For The Long-Term

Financial planning in retirement often involves adapting to changes in lifestyle, priorities, and how time is spent. Travel is one of the areas where those changes are often most visible.

For many retirees, this stage can be a time to consider how travel plans align with long-term goals, alongside other ongoing priorities.

At Advisors Management Group, financial planning is centered around helping clients navigate these types of decisions with a clear understanding of how each stage of retirement fits within their overall plan and family goals.

Contact Advisors Management Group

If you would like to discuss your financial goals or have questions about your current strategy, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

A family sitting on an outdoor patio with grandparents, parents, and grandchildren, laughing.

Keeping A Long-Term Perspective During Periods Of Economic Change

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Periods of economic change often bring increased attention to market activity, interest rates, inflation, and other financial headlines. These developments can shift quickly, and the volume of information can make it difficult to separate short-term movement from longer-term trends.

The important thing to keep in mind is that these periods are less about reacting to a single event and more about understanding how changing conditions may influence decisions over time.

When Headlines Become More Noticeable

Economic changes tend to become more visible through everyday experiences. Interest rates may affect borrowing costs. Inflation may show up in day-to-day expenses. Market activity may be reflected in account values.

At the same time, financial headlines often focus on what is happening now. While this information can be useful, it is not always presented in the context of longer-term planning.

As a result, short-term developments can sometimes feel more significant than they are, leading to reactions that may not align with longer-term goals.

Short-Term Movement Versus Long-Term Direction

One of the challenges during periods of economic change is distinguishing between temporary, short-term market shifts and maintaining a well-managed long-term financial strategy.

Markets, interest rates, and economic conditions naturally move over time. Some changes are temporary, while others may last longer. Not all developments require the same level of attention or response.

Individuals with an established financial plan recognize these periods serve as a reminder to maintain a long-term mindset and ensure their financial plan is structured to account for change, rather than react to sensationalized financial headlines.

How Economic Conditions Show Up In Daily Decisions

Economic shifts do not only exist in headlines. They can also influence everyday buying decisions. This may include decisions around spending, saving, investing, or timing of larger purchases. Periods of economic uncertainty serve as opportunities to reevaluate spending decisions.

Staying Grounded In An Established Plan

For those who have spent years building and maintaining a financial nest egg, periods of economic change can feel more significant. Maintaining a long-term perspective does not require ignoring current events. It involves recognizing where those events fit within a larger timeline. For many individuals and families, this comes down to balancing awareness of current conditions with an understanding of long-term direction.

A Reminder Of What Planning Is Designed To Do

Financial planning is not built around a single set of conditions. It is designed to account for different environments over time. Periods of economic change can serve as a point where individuals and families revisit how their plan is intended to function through different market and economic cycles.

At Advisors Management Group, financial planning is centered around helping clients navigate periods of change with a focus on long-term priorities, while keeping short-term developments in perspective.

Contact Advisors Management Group

If you would like to discuss your financial goals or have questions about your current strategy, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

A family standing on the beach in the ocean.

Planning For Summer Spending When School’s Out

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As the school year ends, many families experience a shift in routines, priorities, and spending. Summer often brings a different mix of expenses, from travel and camps to activities, childcare changes, and more flexible schedules that can influence how and when financial decisions are made.

For many households, these changes are expected. What often stands out is not necessarily the total amount spent, but how spending shows up over a shorter period of time and in less predictable ways.

This shift can make summer a useful point in the year to take a step back and consider how seasonal spending fits within an overall financial plan.

A Shift In How Spending Shows Up

For many families, spending during the school year tends to follow a more consistent pattern. Regular schedules can make it easier to anticipate expenses tied to childcare, activities, and day-to-day living.

Summer often looks different. Expenses may include camps, travel, caregivers, babysitters, and more spontaneous activities. Rather than being spaced out, many of these costs occur within a shorter window of time. The change is often less about spending more overall and more about how those expenses are timed and structured.

For households that already have a financial plan in place, this can provide a clearer view of how real-life spending patterns align with that plan.

Travel, Activities, & Timing

Summer is often when larger discretionary decisions come into focus. Travel plans, seasonal programs, and family activities can involve multiple layers of spending beyond the initial commitment.

These decisions are often intentional and tied to how families choose to spend their time together. At the same time, the timing of these expenses can create periods where several larger costs occur at once.

Looking at these patterns in context can help connect short-term decisions with longer-term priorities, without requiring any immediate changes.

Changes In Schedule & Decision-Making

Summer schedules can introduce a different pace. Work routines may shift, childcare arrangements may change, and families may have more flexibility in how they structure their time.

With that flexibility can come more variability in spending decisions. Some expenses may be planned well in advance, while others may be more spontaneous.

For many families, this is simply part of how summer unfolds. From a planning perspective, it can offer insight into how financial decisions are made when routines are less structured.

A Mid-Year Financial Check In

Summer falls around the midpoint of the year, making it a practical time to revisit the broader financial picture.

With different spending patterns, schedules, and priorities in play, this point in the year can provide a clearer view of how a financial plan is functioning in real time. It may also highlight how lifestyle choices continue to evolve and how those choices connect to longer-term goals.

Financial planning for families is not about making immediate changes. Instead, it can serve as an opportunity to reflect on how seasonal decisions fit within the structure of a broader plan.

Keeping The Long-Term View In Focus

Financial planning is an ongoing process that reflects real life, including periods where routines and spending patterns shift.

Summer is one of those periods. Rather than viewing it as separate from the rest of the year, it can be helpful to see how it fits within the overall structure of a financial plan.

At Advisors Management Group, financial planning is centered around aligning day-to-day decisions with long-term priorities. Periods like summer can provide a useful perspective on how those pieces come together over time.

Contact Advisors Management Group

If you would like to take a closer look at how your current financial plan aligns with your overall priorities, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

Graphic celebrating Mother’s Day featuring five women from Advisors Management Group alongside text highlighting money-saving tips from Rebecca, Jenna, Ashley, Melanie, and Kate.

Money Advice From The Moms Of AMG

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Financial perspectives are often shaped by experience, and in many cases, by the lessons learned and shared within a family.

In recognition of Mother’s Day, we asked the moms of Advisors Management Group’s financial advisory team to share their perspectives on money, financial planning, and the lessons that have shaped their approach to financial decisions.

Their insights reflect a range of experiences, priorities, and approaches, offering a more personal look at how financial planning connects to everyday life.

Here’s What They Had To Say:

Melanie Chapel

“The best advice I want my kids to take on is learning how to budget and plan ahead. Start saving young, even if it’s a small amount, make saving part of your budget. Kids today often don’t know how to balance a checkbook, let alone create a budget..”

Kate Pederson

“It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure you haven’t lost the things that money can’t buy.” —George Lorimer

Rebecca Agamaite

“Live within your means. Don’t live to impress others.”

Ashley Vega

“Saving early and consistently for your kids, even if it’s a small amount, can go a long way over time. Having a small account for them can also provide a way for you to connect with your kids and educate them about finances as they get older.”

Jenna Deets

“One of the most helpful things for our family has been tracking where every dollar we spend goes. This has allowed us to make the choices needed to save for large expenses instead of taking on debt. As a result, we have fewer fixed payments each month, giving us flexibility for emergencies or new expenses. Whether a household lives paycheck to paycheck or has excess cash flow, this is one of the most important habits a family can build.”

Planning For The Whole Family

At Advisors Management Group, financial planning is centered around helping clients navigate decisions across all stages of life, with a focus on long-term priorities and family goals.

On behalf of the Advisors Management Group team, we wish all those celebrating a Happy Mother’s Day!

Contact Advisors Management Group

If you would like to discuss your financial goals or have questions about your current strategy, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

A family consisting of a mother, father, and three daughters smile. One of the daughters is wearing a graduation cap and gown.

Planning For A Child’s Financial Future After Graduation

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Graduation season often marks a transition for both students and their families. Whether a student is finishing high school or college, this stage can bring financial decisions into clearer focus, particularly around education, income, and future responsibility.

For many families, these moments are expected. What changes is how financial responsibilities begin to shift and how an existing plan starts to be carried out in real time.

Different Paths After High School And College

For many high school graduates, the focus often turns toward education-related decisions. This may include understanding how college or other programs will be funded, how living expenses may be handled, and how financial responsibilities may be shared between parents and their now adult children.

For college graduates, the transition can look different. Moving into the workforce may bring changes related to income, living arrangements, and day-to-day financial responsibilities. It can also mark the beginning of new considerations around saving, paying off student loans, future housing plans, and longer-term financial priorities, such as marriage, children, and retirement.

While high school and college graduates have different financial priorities, both mark a point where long-term decisions begin to play out, rather than remain on paper.

Changing Financial Roles Within The Family

Graduation can also change how financial roles are defined within a family.

For some families, this may involve a gradual transition of responsibility from parent to child. For others, it may include continued support while a student completes additional education or establishes a career.

There isn’t a single timeline for this. Each family approaches it differently based on their own circumstances and financial priorities.

Income, Expenses, And Early Career Decisions

As children move into the next stage of life, new patterns of income and expenses may arise.

For high school graduates, this may include entering the workforce, trade programs, military service, or continuing education. Each path can bring different types of income, expenses, and financial responsibilities, often for the first time.

For college graduates entering the workforce, this may include adjusting to a regular income, navigating increased living expenses, and managing existing financial obligations such as student loans or car payments. It can also introduce early decisions around how income is allocated across different priorities, including employer-sponsored retirement plans and individual savings or investment strategies.

For families, these transitions may influence how financial support is provided, and how planning priorities and financial education continue to evolve.

Education Costs And Long-Term Planning

For families with students continuing their education, the financial impact may extend over several years.

Education-related expenses, whether planned in advance or addressed as they arise, can play a role in shaping a family’s overall financial strategy. These considerations often connect to other priorities, including saving, investing, and long-term planning decisions.

A Period Of Transition And Perspective

Graduation represents more than just a transition from high school or college. It can also be a point where financial responsibilities and knowledge begin to shift between generations.

During this time, families may review their existing financial plan and talk with their graduate about financial considerations for the future. Major life changes such as graduation can also provide an opportunity to introduce the topic of financial literacy to the next generation.

Planning For The Long-Term

Financial planning often involves adapting to different stages of life. Transitions such as graduation can highlight how plans evolve as circumstances change.

For many families, this period can be a time to consider how education costs, early career decisions, and shifting responsibilities align with long-term goals, while also introducing the next generation to financial literacy.

At Advisors Management Group, financial planning is centered around helping clients navigate these types of transitions with a clear understanding of how each stage fits within their overall plan and family goals.

Contact Advisors Management Group

If you would like to discuss your financial goals or have questions about your current strategy, please contact us.

Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.

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