Center for Wealth Management

Retirement may feel far off, but a few focused moves this month can make a bigger difference than you might think:

- Put more away now: Even a small 401(k) contribution increase gives your money more time to compound, and catch-up contributions can help savers 50 and older do more.
- Get organized: Paying down high-interest debt, rolling over old accounts, and automating savings can make your plan easier to manage.
- Plan for income: As retirement gets closer, shift focus from simply building wealth to knowing where monthly income may come from later.

See eight moves financial advisors recommend making this month:

8 Money Moves You Can Make This Month To Strengthen Your Retirement Plan It's easy to put off retirement planning, even when you're within a decade of that date. But you don't need a complicated strategy to strengthen your plan.

Turning 59 isn’t just another birthday. It can be one of the last opportunities to meaningfully boost retirement savings before the focus shifts from accumulating money to using it wisely.

- Know where you stand: Benchmarks can help, but your real target depends on spending, health care, Social Security, and lifestyle goals.
- Use catch-up options: Higher contribution limits can help late-career savers make the most of peak earning years, especially before retirement begins.
- Plan for withdrawals: Staying invested, building a cash buffer, and timing Social Security can all affect how long savings last.

See what financial advisors say to review in the years just before retirement:

How Your Retirement Savings at 59 Stack Up Against Expert Targets and National Averages Age 59 can be a key turning point, when the focus shifts from building savings to planning withdrawals. See how your retirement nest egg compares to others this age.

Teaching your kids about money could save you from future financial headaches. Experts suggest discussing spending habits, offering allowances, and even turning savings into a competition. Learn creative ways to make finance fun for children:

10 Ways to Teach Your Kids About Money, According to Financial Experts Set your kids up for long-term financial success by teaching them early about money.

A fulfilling retirement usually takes more than a financial plan. Here’s how to make the transition more meaningful:

• Plan before you leave: Talk to people who are already retired, consider easing in with part-time work, and think about what you want daily life to look like.
• Bring your values with you: If work gave you connection, creativity, or purpose, look for ways to rebuild those through volunteering, hobbies, travel, or community involvement.
• Create structure: Too much open time can be difficult, while a routine can help support mental and emotional well-being.

See what experts say can help you thrive after leaving the workforce:

5 ways to find purpose and stay active during retirement Infusing retirement with meaning can help people make the most of this new phase of life, experts say.

Many business owners plan to fund retirement by selling their company someday. But a profitable business and a sellable business aren’t always the same thing.

- Profit doesn’t guarantee a buyer: Buyers want a company that can run without the founder. If sales, relationships, or daily decisions depend on you personally, the value may be lower than expected.
- The transition window is getting crowded: Millions of small businesses are expected to change hands by 2035, which could mean more sellers competing for qualified buyers.
- Start earlier than feels necessary: Strong exits usually take years of preparation, from documenting systems to building a team that can operate independently.

If your exit strategy is “sell the business someday,” here’s more about what that requires:

The Missing Piece Of Retirement Planning For Business Owners Many business owners expect selling their company to fund retirement. Learn why business readiness is the missing piece of retirement planning.

May was a strong month for investors, with major indices reaching record highs, earnings beating expectations, and gains broadening beyond big tech. Watch the latest Market Thoughts video from Commonwealth to learn what this could mean for portfolios:

Market Thoughts for June 2026 [Video] In his latest Market Thoughts video, Chris Fasciano explores the economic and market landscape, including what investors can expect in the months ahead.

Most people plan carefully for retirement finances, but not always for how they’ll spend their time. Around year three, after the travel, projects, and long-delayed plans slow down, the real adjustment can begin.

• Expect the third-year shift: The first two years often stay busy. After that, many retirees may need a new sense of structure and purpose.
• Ask better questions: What brings you joy? Would volunteering, part-time work, or learning something new feel fulfilling?
• Plan for the long game: With retirement potentially lasting decades, it helps to think about goals for the next 5, 10, or even 20 years.

See how building a post-career routine early could help you create a more fulfilling next chapter:

Create a Fulfilling Retirement Routine to Avoid the Common Third-Year Slump Many retirees struggle with a “third year slump” after the excitement of early retirement fades, but creating a meaningful routine can improve happiness and longevity.

AI can sound confident even when new evidence points in a different direction. Researchers are finding this isn't just a quirk, but it may be a fundamental limitation with real consequences.

• Missed evidence: Researchers found AI agents ignored results that contradicted their assumptions in more than half of tested scenarios.
• High stakes uses: In science and medicine, an AI tool that ignores contradictory evidence isn’t only wrong, it’s potentially dangerous.
• Responsible adoption: AI can still be useful for well-defined tasks, but its limits need to be understood before we rely on it too heavily.

See why knowing what AI can't do may be just as important as knowing what it can:

AI bots ignore evidence. Can we trust them with science? Scientists rethink their ideas after experiments. AI agents struggle to learn from evidence and recognize when an idea is obviously incorrect.

Retirement planning gets harder when common myths make it seem one-size-fits-all. Here’s how to keep misconceptions from derailing your financial future:

• Look beyond one “magic number”: Your needs depend on lifestyle, location, housing costs, and income sources like savings, pensions, or part-time work.
• Know what benefits cover: Social Security may not replace a full paycheck, and Medicare may not cover premiums, prescriptions, dental, vision, or long-term care.
• Stay flexible: Changes to inflation, healthcare needs, market shifts, and lifespan can all affect your plan over time.

See which retirement myths could be shaping your expectations and what to do instead:

Retirement Myths That Confuse Americans Retirement is the ultimate financial goal many people plan for, yet it is surrounded by confusion and misinformation. Advice passed down from previous generations does not always match today’s reality. Many Americans are uncertain of how much they truly need to save before they quit their day job....

Not all inheritances are gifts—some assets can burden your heirs with hidden costs and family feuds. Without careful planning, assets meant to help your family could instead become a burden:

• Plan early: Work with an estate attorney to identify assets that may cause complications—like timeshares or businesses—and decide how to handle them.
• Talk it out: Discuss your wishes with heirs now to prevent conflict and confusion later.
• Keep it simple: Cash and investment accounts are easiest to divide and least likely to spark disputes.
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7 Things You Should Never Leave to Your Kids or Grandkids Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.