Genesis Financial Group

Your 30s can bring a lot of forward motion: career growth, job changes, homeownership, family planning, and bigger financial decisions. It’s an exciting decade, but it can also be a busy one financially.

Here are a few areas to keep in mind:

• Work with a lawyer to prepare a will and address other possible estate planning needs
• Consider buying additional life insurance if you’ve started a family
• Evaluate your investment portfolio to ensure it is properly diversified
• Create an education funding plan if you have children
• Increase contributions to your retirement account(s) following raises
• Purchase a disability income insurance policy if you haven’t done so already
• Aim for a 20% down payment when buying a home to help avoid the cost of private mortgage insurance

Your 30s are a good time to turn financial momentum into long-term progress.

Tomorrow is National Higher Education Day! 🎓

For many families, saving for education is an important part of their long-term financial plan.

One recent update from SECURE 2.0 allows certain 529 plan funds to be rolled over into a Roth IRA under qualifying circumstances. While there are specific rules and limitations, this change may provide additional options for families who have diligently saved for a child's education.

A few things to keep in mind:
✅ The 529 must have been open for at least 15 years
✅ There are annual and lifetime limits on how much can be rolled over
✅ The rollover counts toward the Roth IRA contribution limit for that year

Every family's situation is different, but it's encouraging to see more flexibility available when planning for future education goals!

Have questions? we're here to help.

Risk tolerance often shifts over time.

In your 20s, market ups and downs may feel very different than they do in your 50s or 60s. A longer time horizon means you have the time to recover from short-term market swings. But as your golden years approach, your ability to weather risk often shrinks.

As life changes, it’s natural for comfort with risk to change too. That’s why reviewing investment strategies over time can be just as important as creating them in the first place.

Claiming Social Security as early as possible sounds like a no-brainer. But for many people, it's not the right move.

Factors like how long you expect to work, your overall health, and your spouse's plans can all play a role in figuring out what makes sense for your situation. There's no one-size-fits-all answer.

If you haven't thought through your Social Security strategy yet, it's worth a conversation.

Your 20s can feel like a lot of firsts: first full-time job, first benefits package, first student loan payment. It’s also a great time to start building habits that can impact your lifetime financial wellness.

Here are a few areas to focus on:

• Open checking and savings accounts
• Build a budget you can stick with
• Start an emergency fund with three to six months of living expenses
• Enroll in your company’s 401(k) plan and contribute at least the minimum needed to qualify for the full employer match
• Begin paying down debt like credit cards or student loans
• Check your credit report and correct any errors
• Consider purchasing life insurance and disability income insurance to lock in a lower rate

You don’t have to have it all figured out. Getting started is the win.

June 1st is National Pen Pal Day! ✉️

In a world of texts and emails, there’s something special about taking the time to write a thoughtful note and stay connected with the people who matter most.

Today, consider sending a handwritten note to someone who could use a smile. A few kind words can go a long way!

What if you could “test-drive” retirement before it actually begins?

One simple idea: try living on your planned retirement income for a month while you’re still working. It can help you better understand your spending and make adjustments ahead of time.

You might also use vacation time to see what your days actually look like without work, or even spend a few weeks in a place you’re considering for retirement.

A little real-world testing now can go a long way in helping you feel more prepared for what’s ahead.

Starting your first full-time job is an exciting milestone! One of the first financial decisions you'll want to tackle is your 401(k) enrollment.

Here are a few things to keep in mind:

1. Contribute enough to get your full employer match: Many employers match a percentage of what you contribute up to a certain limit. Try to contribute at least enough to capture the full match. It's essentially free money added to your retirement savings.

2. Starting small still matters: Even a modest contribution in your 20s has decades to grow. The earlier you start, the less you have to contribute later to reach the same goal.

3. Traditional vs Roth 401(k): Some employers offer both. A traditional 401(k) may reduce your taxable income today, while a Roth 401(k) has the potential to grow tax free. Which makes more sense depends on your situation.

If you have questions about where to start, feel free to reach out!

Thinking about college costs? You're not alone.

Here are a few things worth thinking through when it comes to education funding:

• Most families know starting early helps, but few have a clear target. How much is "enough" depends on the type of school, potential financial aid, and your broader financial picture.
• College savings can offer real tax advantages, but the details around contribution limits and qualified expenses are worth understanding before you dive in.
• The right plan today may not be the right plan in five years. As your child's path becomes clearer, it's worth building in room to adjust.
• There are tradeoffs to consider. Saving aggressively for education could mean making sacrifices elsewhere, like retirement savings or an emergency fund. Balance is key.

If you're not sure where to start, reach out to get the conversation started.

When life changes, so should your financial plan.

Early in your career, you may be focused on building savings, paying down debt, or preparing to buy a home. But as life evolves, those priorities inevitably shift toward retirement planning, creating income strategies, and planning for future generations.

What worked for you 10 years ago may not be the same strategy that works for you today. That’s why it’s important to regularly review your finances. Whether it’s evaluating your investments, revisiting retirement goals, updating beneficiaries, or adjusting for lifestyle and income changes, small updates over time can help keep your financial plan aligned with your goals.

If you haven’t reviewed your financial plan recently, our team at Genesis Financial Group is here to help you evaluate where you are today and prepare for what’s ahead.