Tips

Open enrollment season gives employees an opportunity to review and update many of the workplace benefits that can affect their financial well-being throughout the coming year. While health insurance is often the primary focus, open enrollment can also be a good time to revisit retirement plan contributions, Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), life insurance, disability coverage, and beneficiary designations.

Because employer-sponsored benefits often play an important role in an overall financial plan, reviewing your available options each year may help ensure your elections continue to reflect your healthcare needs, financial priorities, and changing life circumstances.

When Is Open Enrollment Season?

The timing of open enrollment depends on the type of health coverage you have.

For many employer-sponsored health plans, open enrollment takes place during the fall, often in October or November, for benefits that become effective January 1 of the following year. Benefit elections generally remain in effect until the next open enrollment period unless a qualifying life event occurs. Your employer’s Human Resources department can provide the specific dates, benefit options, and deadlines that apply to your workplace.

Other types of health coverage follow different enrollment periods:

• Health Insurance Marketplace (ACA) Plans: For 2027 coverage, the federal Health Insurance Marketplace open enrollment period generally runs from November 1, 2026, through December 15, 2026, for coverage beginning January 1, 2027. Some state-based marketplaces may have different deadlines.
• Medicare Annual Enrollment: Generally takes place October 15 through December 7, with coverage changes becoming effective January 1.
• Medicaid and CHIP: Individuals who qualify may enroll throughout the year rather than during a specific open enrollment period.

Review Your Health Insurance Coverage

Health insurance needs can change from year to year. During open enrollment, consider whether your current plan continues to meet your needs or if another available option may be a better fit.

Some factors to review include:

• Monthly premiums
• Deductibles
• Copays and coinsurance
• Provider networks
• Prescription drug coverage
• Expected healthcare needs for you and your family

Changes such as marriage, the birth of a child, or changes in your healthcare needs may influence which available plan options are most appropriate for your household.

Revisit Your Retirement Plan Contributions

Open enrollment can also be a good reminder to review your workplace retirement savings strategy.

Many employer-sponsored retirement plans allow employees to adjust their contribution percentage during open enrollment or throughout the year. Reviewing your current contribution rate may help determine whether it still aligns with your income, budget, and long-term retirement goals.

You may also wish to review:

• Whether you’re taking full advantage of any available employer matching contributions
• Recent changes in income or expenses
• Your overall retirement savings strategy
• Annual IRS contribution limits

Small adjustments made consistently over time may have a meaningful impact on long-term retirement savings.

Consider Your Health Savings Account (HSA)

If you are enrolled in a qualified High Deductible Health Plan (HDHP), you may be eligible to contribute to a Health Savings Account (HSA).

HSAs offer several potential advantages, including:

• Tax-deductible contributions (subject to IRS rules)
• Tax-deferred growth
• Tax-free withdrawals for qualified medical expenses

During open enrollment, you may wish to review your planned HSA contribution amount for the upcoming year and determine whether it continues to fit within your overall financial plan.

Review Flexible Spending Accounts (FSAs)

Employees who participate in a Flexible Spending Account may also want to revisit their contribution elections.

Depending on your employer’s plan, FSAs may be available for:

• Healthcare expenses
• Dependent care expenses

Because FSA rules and carryover provisions can vary by employer, reviewing your anticipated expenses before selecting a contribution amount may help you make the most of your available benefits.

Review Life And Disability Insurance

Many employers offer life insurance and disability insurance as part of their employee benefits package.

Open enrollment provides an opportunity to review whether your current coverage still reflects your financial responsibilities and family situation.

You may wish to consider:

• Changes in income
• Marriage or divorce
• The birth or adoption of a child
• A mortgage or other significant financial obligations

Reviewing these coverages periodically can help ensure they continue to support your broader financial plan.

Don’t Forget to Review Your Beneficiaries

Open enrollment is also a good reminder to review beneficiary designations on workplace retirement accounts, life insurance policies, and other employer-sponsored benefits.

Life events such as marriage, divorce, births, or deaths may make it appropriate to update beneficiary information. Keeping these designations current can help ensure your wishes are accurately reflected.

Think Beyond This Year’s Benefits

While open enrollment focuses on the upcoming plan year, it can also serve as an opportunity to step back and review your overall financial picture.

Questions you may wish to consider include:

• Are your retirement savings still aligned with your long-term goals?
• Has your emergency fund changed?
• Have your healthcare expenses increased?
• Have there been significant changes to your family or financial situation?
• Is your current financial plan still appropriate for your goals?
• Have your beneficiary designations been reviewed recently?

Looking at workplace benefits within the context of your broader financial plan may help you make more informed decisions.

How Advisors Management Group Can Help

Open enrollment decisions are just one part of a comprehensive financial plan.

At Advisors Management Group, we help clients understand how retirement planning, investment management, tax planning, healthcare costs, and other financial considerations work together. While your employer provides information about available benefit options, evaluating how those benefits fit into your overall financial goals may benefit from a broader planning perspective.

Whether you’re reviewing retirement savings, evaluating workplace benefits, planning for future healthcare expenses, or discussing your long-term financial goals, Advisors Management Group can help you understand how those decisions fit within your overall financial plan.

Contact Advisors Management Group

If you would like to review your financial plan or discuss how your workplace benefits fit into your long-term financial goals, contact Advisors Management Group.

Our team works with clients to develop personalized financial plans that consider retirement planning, investment management, cash flow, tax planning, healthcare expenses, education savings, business planning, and other long-term financial priorities.

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.

With a few months remaining in the year, September can be a good time to begin thinking about year-end financial planning. Starting the conversation before the end of the year allows time to review your progress, revisit your financial goals, and identify planning topics that may be worth discussing before December 31.

Year-end financial planning isn’t about making last-minute decisions. Instead, it’s an opportunity to review your current financial situation, revisit your goals, and identify areas that may benefit from additional attention before the calendar turns to a new year.

Whether you’re thinking about retirement contributions, tax planning, insurance coverage, or debt management, starting these conversations early often provides more flexibility than waiting until the final weeks of the year.

Review Your Retirement Contributions

If you participate in an employer-sponsored retirement plan, such as a 401(k), or contribute to an Individual Retirement Account (IRA), fall can be a good time to review your contributions and compare them to the goals you established for the year.

Questions to consider may include:

• Are you contributing enough to receive your employer’s matching contribution, if one is available?
• Have changes in your income or expenses affected the amount you’re able to save?
• Are you on track to contribute the amount you intended this year?

Even small contribution increases may have a meaningful impact over time. Reviewing your retirement savings before year-end also provides time to discuss any potential adjustments with your financial advisor before annual contribution deadlines arrive.

Begin Year-End Tax Planning Conversations

Many tax planning opportunities are most effective when they are considered before the end of the calendar year. Waiting until tax season may limit the strategies available.

Beginning conversations with your tax preparer or financial advisor in the fall can provide time to better understand your current tax situation and explore planning opportunities that may align with your overall financial plan.

Depending on your circumstances, those discussions may include:

• Reviewing projected taxable income
• Evaluating retirement account contributions
• Planning charitable gifts
• Reviewing capital gains and losses
• Discussing Required Minimum Distributions (RMDs), if applicable
• Reviewing tax withholding

Because every financial situation is different, tax planning should be evaluated based on your individual goals and circumstances.

Review Your Insurance Coverage

Insurance needs can change over time, especially following major life events such as purchasing a home, changing jobs, growing your family, or approaching retirement.

Before the end of the year, it may be worthwhile to review your existing coverage and determine whether it still aligns with your current financial situation.

Depending on your circumstances, this review may include:

• Health insurance
• Life insurance
• Homeowners or renters insurance
• Auto insurance
• Disability insurance

For individuals who receive health insurance through their employer, have a medicare supplement or purchase insurance through the Marketplace, this review may also coincide with annual open enrollment, providing an opportunity to evaluate available coverage options for the coming year.

Evaluate Your Debt Strategy

Reviewing debt before year-end can help you better understand how it fits into your overall financial plan.

You may find it helpful to evaluate:

• Outstanding credit card balances
• Loan interest rates
• Monthly debt payments
• Overall cash flow

Depending on your financial goals, you may decide to prioritize paying down certain balances, adjust your repayment strategy, or simply gain a clearer understanding of how debt affects your long-term financial picture.

Rather than viewing debt as a standalone issue, consider how it relates to your broader financial goals, including retirement savings, emergency reserves, and future purchases.

Review Your Financial Progress

As the year comes to a close, it’s also a good opportunity to step back and review the progress you’ve made toward your financial goals.

Ask yourself:

• Have your financial priorities changed this year?
• Have there been any major life events that may affect your financial plan?
• Are your current savings and investment strategies still aligned with your long-term objectives?
• Are there planning topics you’d like to discuss before the end of the year?

Financial planning is an ongoing process. Periodically reviewing your goals and circumstances can help ensure your financial plan continues to reflect where you are today and where you’d like to be in the future.

How Advisors Management Group Can Help

Year-end financial planning involves more than reviewing individual accounts or completing a checklist before December 31. It provides an opportunity to evaluate how retirement planning, investment management, tax planning, insurance, and cash flow work together to support your long-term financial goals.

At Advisors Management Group, we work with individuals, families, retirees, and business owners to develop personalized financial plans based on their unique circumstances and objectives. Whether you’re reviewing retirement contributions, preparing for year-end tax conversations, or evaluating your overall financial plan, our team can help you understand how today’s decisions fit into your broader financial picture.

Contact Advisors Management Group

If you’d like to discuss your financial goals or learn more about Advisors Management Group’s comprehensive financial planning services, we’d be happy to help. Contact our team to schedule a conversation.

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.

Choosing a financial advisor is an important decision. Whether you are looking for a financial professional for the first time or reviewing your current advisory relationship, one factor you may encounter is how an advisor is compensated.

Terms such as fee-only and fee-based are commonly used throughout the financial services industry, but they are often misunderstood. While both compensation models may provide financial planning and investment management services, there are important distinctions that individuals may wish to understand when evaluating financial professionals.

Learning how different compensation structures work can help you ask informed questions and better understand how various advisory relationships are structured.

What Does Fee-Only Mean?

A fee-only financial advisor receives compensation directly from clients for the advisory services they provide.

Depending on the advisory relationship, compensation may be based on:

• Assets under management
• A flat financial planning fee
• An hourly fee
• Another clearly disclosed advisory fee structure

Fee-only advisors generally do not receive commissions for recommending investment or insurance products.

Many fee-only advisory firms, including Registered Investment Advisers (RIAs), provide advisory services under a fiduciary standard, meaning they are generally required to act in their clients’ best interests when providing investment advice.

What Does Fee-Based Mean?

The term fee-based is sometimes confused with fee-only, but the two are not interchangeable.

In general, a fee-based advisor may receive compensation from more than one source.

Depending on the firm’s business model, compensation could include:

• Advisory fees
• Commissions from certain investment or insurance products
• Other forms of compensation permitted under applicable regulations

Because business models vary, individuals may find it helpful to ask how an advisor is compensated and whether commissions could apply in certain situations.

Why Understanding Compensation Matters

Understanding how a financial professional is compensated does not necessarily determine whether one advisor is a better fit than another.

However, knowing how compensation works may help individuals better understand:

• The services being provided
• How advisory fees are calculated
• Whether commissions may apply
• The advisor’s role in different types of transactions
• Questions to ask before entering into an advisory relationship

Because compensation structures can differ, many individuals choose to learn how an advisor is paid as one factor when evaluating a long-term advisory relationship.

Understanding The Fiduciary Standard

Many individuals researching financial advisors also encounter the term fiduciary.

Generally speaking, a fiduciary is required to act in a client’s best interest when providing advisory services.

Registered Investment Advisers typically provide advisory services under this fiduciary standard. However, regulatory requirements can vary depending on the services being provided and the registration status of the financial professional.

Because these distinctions can sometimes be confusing, individuals may find it helpful to ask questions about an advisor’s role, responsibilities, and compensation structure.

Questions You May Wish to Ask a Financial Advisor

Whether meeting with a financial professional for the first time or reviewing an existing advisory relationship, individuals may find it helpful to ask questions such as:

• How are you compensated?
• Are there situations where commissions apply?
• What services are included in your advisory fee?
• Are you acting as a fiduciary when providing advisory services?
• How are ongoing financial planning services provided?
• How often will my financial plan be reviewed?

These conversations can help individuals better understand how an advisory relationship is structured before making financial decisions.

Choosing The Right Financial Advisor

Every individual’s financial situation and planning needs are different.

Some people may prioritize comprehensive financial planning. Others may be looking primarily for investment management, retirement planning, estate planning coordination, or ongoing financial guidance.

Understanding how an advisor is compensated is one consideration that can help individuals evaluate whether a particular advisory relationship aligns with their financial goals, communication preferences, and planning needs.

Asking questions about compensation, services provided, fiduciary responsibilities, and the overall planning process can help individuals better understand how different advisory firms operate.

How We Operate

Choosing a financial advisor is an important decision, and understanding how advisory relationships are structured can be a valuable part of that process.

Advisors Management Group is a fee-only Registered Investment Adviser. This means we are compensated directly by our clients for the financial planning and investment advisory services we provide. We do not accept commissions or compensation from investment products, mutual funds, or third-party providers based on where client assets are invested or which investments are recommended.

Because our compensation comes directly from our clients, our focus remains on providing guidance based on each client’s goals, financial circumstances, risk tolerance, and long-term objectives. As part of our advisory process, we review portfolios and financial plans with consideration for changing market conditions, evolving financial priorities, and each client’s broader financial picture.

Whether you are evaluating financial advisors for the first time or reviewing an existing advisory relationship, understanding how compensation fits into the planning process can be an important part of making an informed decision.

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.

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.

Retirement accounts, life insurance policies, and certain investment accounts often require beneficiaries to be named when they are first established. Once those designations are completed, however, they may not receive much attention for years.

Because life circumstances can change over time, periodically reviewing beneficiary designations can be an important way of keeping them aligned with your current wishes and broader financial plan.

While every individual’s situation is different, understanding why beneficiary designations matter and when they may warrant a review can help keep this often-overlooked aspect of financial planning up to date.

Why Beneficiary Designations Matter

Beneficiary designations identify who is intended to receive certain financial assets upon an individual’s passing. Because these designations are often completed when an account is first opened, it can be easy to assume they no longer require attention.

Over time, however, family relationships, financial priorities, and long-term goals may change. Periodically reviewing beneficiary designations can help determine whether they continue to align with your current circumstances and broader financial planning objectives.

What Is a Beneficiary Designation?

A beneficiary designation identifies the individual or individuals who are intended to receive specific assets upon the account owner’s death.

Beneficiary designations commonly apply to:

• Retirement accounts such as 401(k)s and IRAs
• Life insurance policies
• Health Savings Accounts (HSAs)
• Annuities
• Certain brokerage and investment accounts
• Payable-on-Death (POD) bank accounts
• Transfer-on-Death (TOD) investment accounts

Because beneficiary designations are established directly through the financial institution or insurance company, they often operate independently of a will. As a result, it is generally important to understand how beneficiary designations fit within an overall financial and estate plan.

When to Review Beneficiary Designations

There is no universal schedule for reviewing beneficiary designations, but many individuals choose to revisit them following significant life events or as part of their regular financial planning process.

Common examples include:

Marriage

Marriage often brings new financial priorities, shared responsibilities, and long-term planning goals. As individuals update financial accounts and legal documents, they may also choose to review beneficiary designations to ensure they continue to reflect their current wishes.

Divorce

Following a divorce, beneficiary designations may no longer align with an individual’s intentions. State laws and account provisions can vary so, reviewing retirement accounts, insurance policies, and other beneficiary-designated assets can become part of updating financial records during this transition.

The Birth or Adoption of a Child

Welcoming a child into the family often prompts individuals to revisit many aspects of their financial plan, including beneficiary designations, estate planning documents, and long-term financial priorities.

The Death of a Beneficiary

If a named beneficiary passes away, reviewing beneficiary designations may help determine whether updates are appropriate.

Retirement

Retirement often brings changes to income planning, healthcare considerations, investment strategies, and estate planning. This stage of life may also provide a natural opportunity to review beneficiary designations.

Significant Changes in Financial Circumstances

Receiving an inheritance, selling a business, purchasing additional insurance coverage, or opening new financial accounts may all create opportunities to review beneficiary information as part of a broader financial plan.

Blended Families

Marriage later in life or the creation of a blended family may lead individuals to revisit beneficiary designations to help ensure they continue to reflect current family relationships and long-term planning goals.

It Is Not Only About Major Life Events

Even without a significant life event, many individuals choose to review beneficiary designations periodically as part of their ongoing financial planning process.

Financial plans often evolve over time. New accounts may be opened, older accounts may be consolidated, and personal priorities may shift. Including beneficiary reviews as part of a periodic financial review can help determine whether account information continues to reflect current goals and circumstances.

Understanding Primary and Contingent Beneficiaries

Many financial accounts allow owners to name both primary and contingent beneficiaries.

A primary beneficiary is generally intended to receive the account first.

A contingent beneficiary may receive the assets if the primary beneficiary is no longer living or is otherwise unable to inherit the account according to the account’s terms.

Reviewing both primary and contingent beneficiaries periodically may help identify situations where updates could be appropriate following changes in family relationships or estate planning objectives.

Beneficiary Designations Are One Part Of A Larger Financial Plan

Beneficiary designations represent only one component of a comprehensive financial plan.

They often work alongside other planning considerations, including:

• Retirement planning
• Estate planning
• Insurance planning
• Cash flow management
• Tax considerations
• Legacy planning

Because these areas frequently intersect, reviewing beneficiary designations periodically may help ensure they continue to complement an individual’s broader financial goals.

How Advisors Management Group Can Help

Comprehensive financial planning often involves more than preparing for retirement or managing investments. It also includes reviewing the details that help keep your financial plan aligned with your goals as life changes.

Beneficiary designations, retirement accounts, estate planning documents, insurance coverage, and other financial decisions often work together as part of a long-term financial strategy. Periodically reviewing how these pieces fit together may help ensure they continue to reflect your current priorities.

At Advisors Management Group, our team works with individuals and families to evaluate their financial planning needs and develop personalized strategies based on their unique circumstances. Whether you are reviewing retirement accounts, planning for future generations, preparing for retirement, or navigating a significant life event, comprehensive financial planning can help connect these decisions within a broader financial roadmap.

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.

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. Any tax, accounting, legal, or business information provided in this commentary is general in nature and should not be considered personalized advice. Tax laws, accounting standards, business regulations, and legal requirements may change and may apply differently depending on individual or business circumstances. You should consult the appropriate professional advisor before making decisions related to taxes, accounting, legal matters, business planning, or financial strategies.

The transition to college is an exciting milestone for young adults and their families. Along with new academic opportunities, greater independence often comes with new financial responsibilities.

Whether a student is preparing for their first semester at college or returning to campus for another year, college can provide valuable opportunities to develop financial habits that may serve them well in the years ahead.

While every family’s situation is different, having a few important conversations before move-in day can help young adults better understand the financial decisions they may encounter and prepare them to manage money more independently.

Understanding a Budget

For many young adults, college may be the first time they are responsible for managing their own day-to-day spending.

Expenses can quickly add up throughout the semester and may include:

• Food and dining expenses
• Transportation costs
• Entertainment and social activities
• School supplies
• Personal care items
• Subscriptions and recurring charges

Before the school year begins, families may find it helpful to discuss how expenses will be covered and what expectations exist around spending.

Understanding where money is coming from and where it is going can help young adults make more informed financial decisions throughout the year.

Banking Basics

College is often a time when a person begins managing their own checking and savings accounts.

Parents may want to discuss:

• How checking and savings accounts work
• Monitoring account balances
• Setting up direct deposit
• Using online and mobile banking tools
• Avoiding overdraft fees

Even simple conversations about reviewing account activity and understanding available balances can help young adults become more comfortable managing their finances independently.

Using Credit Responsibly

Many students receive credit card offers during their college years. While credit can be a useful financial tool when used responsibly, it can also introduce challenges if young adults do not fully understand the responsibilities that accompany borrowing.

Topics families may wish to discuss include:

• How credit cards work
• Interest charges
• Making payments on time
• The importance of staying within a budget
• Building a positive credit history
• Understanding how credit scores are calculated

These conversations can help young adults better understand both the opportunities and responsibilities that may accompany the use of credit.

Understanding Student Loans

If student loans are part of a college funding plan, it can be helpful to understand how borrowing works, what repayment obligations may look like after graduation, and how borrowing decisions made during college may affect future financial priorities.

Conversations may include:

• Types of student loans
• Borrowing amounts
• Interest accrual
• Repayment expectations
• Loan servicing responsibilities

Having a basic understanding of these concepts may help young adults make more informed decisions throughout their educational journey.

Preparing for Unexpected Expenses

Unexpected expenses can arise during any stage of life, including college.

A laptop may need repairs. A vehicle may require maintenance. Medical expenses may arise. Roommate situations may change.

Discussing how unexpected expenses would be handled can help young adults feel more prepared if challenges occur during the school year.

Financial Responsibility Beyond the First Year

Financial conversations are valuable not only for first-year students but also for returning college students.

Each year often brings new experiences and responsibilities. Internships, part-time jobs, off-campus housing, and preparation for post-graduation employment can all create new financial considerations.

Periodic conversations can help young adults continue developing financial confidence as their circumstances evolve and financial responsibilities increase.

An Opportunity to Build Financial Skills

College provides an opportunity to learn more than academic subjects. It can also be a time for young adults to begin developing the financial habits and decision-making skills that may serve them throughout their entire lives.

For many young adults, college may be the first time they encounter major financial decisions involving budgeting, borrowing, and managing credit. Decisions related to student loans and other financial obligations can continue to affect financial priorities long after graduation, making it important to understand both the opportunities and responsibilities that accompany them.

Having open conversations about money before and during the college years can help young adults better understand the responsibilities that often accompany financial independence, particularly when making decisions that may carry long-term financial implications.

How Advisors Management Group Can Help

Major life transitions often create new financial questions and planning opportunities. Whether you are helping a child prepare for college, evaluating education-related expenses, planning for retirement, or working toward other long-term goals, financial decisions are often most effective when viewed as part of a broader financial plan.

At Advisors Management Group, our experienced team works with individuals and families to evaluate their unique financial planning needs and develop a personalized roadmap for the future. Financial planning can help connect short-term priorities with long-term goals while adapting to life’s changing circumstances.

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 planning, inheritance considerations, 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.