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I've got valuable information and resources to share. Explore away! And check back often.

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I often hear from people who try to save money by cutting small expenses each month—making coffee at home, eating out less, skipping the extra guac at Chipotle. While these little changes can add up, the real impact often comes from being intentional with the big financial decisions. Making sure your mortgage, rent, or car payment fits comfortably within your budget has a much bigger effect—and requires less daily effort—than constantly pinching pennies. Focus on aligning those major expenses, and you’ll find your financial foundation is a lot stronger.

I often hear from people who try to save money by cutting small expenses each month—making coffee at home, eating out less, skipping the extra guac at Chipotle. While these little changes can add up, the real impact often comes from being intentional with the big financial decisions. Making sure your mortgage, rent, or car payment fits comfortably within your budget has a much bigger effect—and requires less daily effort—than constantly pinching pennies. Focus on aligning those major expenses, and you’ll find your financial foundation is a lot stronger.

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If you have money sitting in a money market mutual fund or high-yield savings account, this one's for you. With interest rates expected to drop, those returns will likely decrease too. Ask yourself—Is this money for a short-term goal, or something further down the road? If it’s for a mid or long-term goal, now is the perfect time to reassess where it’s invested. See thrivent .com/social for more information.

If you have money sitting in a money market mutual fund or high-yield savings account, this one's for you. With interest rates expected to drop, those returns will likely decrease too. Ask yourself—Is this money for a short-term goal, or something further down the road? If it’s for a mid or long-term goal, now is the perfect time to reassess where it’s invested. See thrivent .com/social for more information.

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Even if you don’t see your kids attending college, a 529 plan is still worth considering. Traditionally, 529 plans have been the go-to savings tool for college due to their tax benefits. The catch for many people has been the fear of taxes and penalties if the funds weren’t used for education. But starting this year, there’s more flexibility. You can now roll up to $35,000 from a 529 plan into your child’s Roth IRA. This opens up a huge opportunity—envision 60 years of tax-free growth! It’s a game-changer for a lot of families. If you're hesitant about a 529 because of potential penalties, this new option offers an alternative path to saving and investing for your child's future. For this to happen, the 529 needs to be opened for 15 years prior to this strategy so it's good to start early. Note that all rules for Roth IRAs still exist including income limitations, maximum contributions etc. See thrivent .com/social for more information.

Even if you don’t see your kids attending college, a 529 plan is still worth considering. Traditionally, 529 plans have been the go-to savings tool for college due to their tax benefits. The catch for many people has been the fear of taxes and penalties if the funds weren’t used for education. But starting this year, there’s more flexibility. You can now roll up to $35,000 from a 529 plan into your child’s Roth IRA. This opens up a huge opportunity—envision 60 years of tax-free growth! It’s a game-changer for a lot of families. If you're hesitant about a 529 because of potential penalties, this new option offers an alternative path to saving and investing for your child's future. For this to happen, the 529 needs to be opened for 15 years prior to this strategy so it's good to start early. Note that all rules for Roth IRAs still exist including income limitations, maximum contributions etc. See thrivent .com/social for more information.

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For those nearing, or in retirement, it can feel safer to keep your money in cash or cash-like investments. The largest risk with that strategy is inflation and outliving your money. If your investments aren’t growing enough to outpace inflation, you will need more money to maintain the same lifestyle. For example, if inflation averages 3%, what costs $50,000 today will cost over $67,000 in 10 years. This is why some growth-focused assets are often beneficial in your retirement portfolio. A well-diversified retirement plan will help protect your long-term purchasing power and keep you on track to maintain your lifestyle, without unnecessary risk. Be sure that your retirement plan can handle rising costs, while still giving you financial confidence. See thrivent .com/social for more information. While diversification can help reduce market risk, it does not eliminate it. Diversification does not assure a profit or protect against loss in a declining market.

For those nearing, or in retirement, it can feel safer to keep your money in cash or cash-like investments. The largest risk with that strategy is inflation and outliving your money. If your investments aren’t growing enough to outpace inflation, you will need more money to maintain the same lifestyle. For example, if inflation averages 3%, what costs $50,000 today will cost over $67,000 in 10 years. This is why some growth-focused assets are often beneficial in your retirement portfolio. A well-diversified retirement plan will help protect your long-term purchasing power and keep you on track to maintain your lifestyle, without unnecessary risk. Be sure that your retirement plan can handle rising costs, while still giving you financial confidence. See thrivent .com/social for more information. While diversification can help reduce market risk, it does not eliminate it. Diversification does not assure a profit or protect against loss in a declining market.

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Regardless of where you are in your financial journey, one common pitfall is car payments that take up too much of your budget. While having a car is often a necessity, it’s not cheap. Here’s what we recommend: It's almost always best to pay cash when you can, but that’s not always realistic. If a car loan is necessary, you can follow these three steps: 1. Put down at least a 20% down payment in cash. 2. Pay off the car in 3 years or less. 3. Ensure the payment is less than 8% of your income. If the car doesn’t meet these parameters, it’s likely out of your budget. Consider saving more or opting for a more affordable vehicle.

Regardless of where you are in your financial journey, one common pitfall is car payments that take up too much of your budget. While having a car is often a necessity, it’s not cheap. Here’s what we recommend: It's almost always best to pay cash when you can, but that’s not always realistic. If a car loan is necessary, you can follow these three steps: 1. Put down at least a 20% down payment in cash. 2. Pay off the car in 3 years or less. 3. Ensure the payment is less than 8% of your income. If the car doesn’t meet these parameters, it’s likely out of your budget. Consider saving more or opting for a more affordable vehicle.

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Many people think having a financial advisor who only manages money or sells products means they have a financial plan. But that’s not the case. A true financial plan is comprehensive—it addresses your goals, risks, taxes, estate planning, and more. Everyone needs a plan tailored to their unique situation, not just an investment strategy. Ensure your financial future is supported by a holistic plan, not just products. See thrivent .com/social for more information.

Many people think having a financial advisor who only manages money or sells products means they have a financial plan. But that’s not the case. A true financial plan is comprehensive—it addresses your goals, risks, taxes, estate planning, and more. Everyone needs a plan tailored to their unique situation, not just an investment strategy. Ensure your financial future is supported by a holistic plan, not just products. See thrivent .com/social for more information.

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When the stock market is up, people generally understand that fluctuations are part of the process. However, it's tempting to want to exit when the market goes down and avoid further losses. Countless studies have shown that this behavior can significantly hurt long-term investment returns. For example, if you missed the best 10 days in the market over the last 30 years, your returns could be cut in half. Staying invested through the ups and downs is crucial to maximizing your financial growth. See thrivent .com/social and https://www.hartfordfunds.com/practice-management/client-conversations/managing-volatility/timing-the-market-is-impossible.html#:~:text=78%25%20of%20the%20stock%20market's,returns%20by%20an%20astonishing%2083%25 for more information.

When the stock market is up, people generally understand that fluctuations are part of the process. However, it's tempting to want to exit when the market goes down and avoid further losses. Countless studies have shown that this behavior can significantly hurt long-term investment returns. For example, if you missed the best 10 days in the market over the last 30 years, your returns could be cut in half. Staying invested through the ups and downs is crucial to maximizing your financial growth. See thrivent .com/social and https://www.hartfordfunds.com/practice-management/client-conversations/managing-volatility/timing-the-market-is-impossible.html#:~:text=78%25%20of%20the%20stock%20market's,returns%20by%20an%20astonishing%2083%25 for more information.

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Contributing to a 401(k) or Roth IRA does not automatically mean you are invested in the market. Over the last few months, I have seen many retirement accounts holding cash-like investments. This can result in a significant difference—potentially costing you hundreds of thousands of dollars—if your funds are not invested in the stock market. It's crucial to regularly review and assess your investments to ensure they align with your long-term financial goals. See thrivent .com/social for more information.

Contributing to a 401(k) or Roth IRA does not automatically mean you are invested in the market. Over the last few months, I have seen many retirement accounts holding cash-like investments. This can result in a significant difference—potentially costing you hundreds of thousands of dollars—if your funds are not invested in the stock market. It's crucial to regularly review and assess your investments to ensure they align with your long-term financial goals. See thrivent .com/social for more information.

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How Much Money Can You Save in Interest by Making a Larger Down Payment on a House? The minimum down payment for a house is currently 3%, while "conventional wisdom" recommends putting down 20%. Let's look at the potential interest savings with different down payment amounts based on a 30-year mortgage, a 7% interest rate, and a $300,000 house. 3% down payment: $405,971.02 in interest 5% down payment: $397,602.26 in interest 20% down payment: $334,817.84 in interest In this example, putting 20% down on a mortgage saves over $70,000 in interest. Additionally, this doesn't account for private mortgage insurance (PMI), which is required until you reach 20% equity. However, when buying a home, it's crucial to ensure you have plenty of cash reserves for unexpected expenses. Jumping into a home purchase before you're financially ready can put unnecessary strain on your financial plan. See thrivent .com/social for more information.

How Much Money Can You Save in Interest by Making a Larger Down Payment on a House? The minimum down payment for a house is currently 3%, while "conventional wisdom" recommends putting down 20%. Let's look at the potential interest savings with different down payment amounts based on a 30-year mortgage, a 7% interest rate, and a $300,000 house. 3% down payment: $405,971.02 in interest 5% down payment: $397,602.26 in interest 20% down payment: $334,817.84 in interest In this example, putting 20% down on a mortgage saves over $70,000 in interest. Additionally, this doesn't account for private mortgage insurance (PMI), which is required until you reach 20% equity. However, when buying a home, it's crucial to ensure you have plenty of cash reserves for unexpected expenses. Jumping into a home purchase before you're financially ready can put unnecessary strain on your financial plan. See thrivent .com/social for more information.

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For individuals with doctoral degrees, balancing a high income with a substantial amount of student debt can be challenging. Here are some common mistakes to watch out for: 1. Not Making a Plan for Paying Off Debt: I've spoken with many individuals who have "no plans on paying more than the minimums" or say "I'll likely retire with those loans." Consider exploring options including a fast payoff, PSLF, SAVE, and other repayment strategies that may make sense for your situation. 2. Lifestyle Creep: When people suddenly start making significantly more money, it is easy to fill your cash flow with a large mortgage payment, car payments, and general extra spending. Enjoying your income is good, but it's crucial to prioritize other financial goals first to ensure long-term stability. 3. Delayed Retirement Savings: Many start saving for retirement 4-15 years later than others. As a result, you will need to be more aggressive with the percentage of income you set aside, given the fewer years ahead for compound growth. 4. Neglecting Tax Planning: High earners and business owners have more opportunities to reduce their lifetime tax bill. Effective tax planning can significantly improve your financial plan. Navigating these and additional issues requires a proactive approach. Our team is here to help you create a plan that secures your financial future. See thrivent .com/social for more information

For individuals with doctoral degrees, balancing a high income with a substantial amount of student debt can be challenging. Here are some common mistakes to watch out for: 1. Not Making a Plan for Paying Off Debt: I've spoken with many individuals who have "no plans on paying more than the minimums" or say "I'll likely retire with those loans." Consider exploring options including a fast payoff, PSLF, SAVE, and other repayment strategies that may make sense for your situation. 2. Lifestyle Creep: When people suddenly start making significantly more money, it is easy to fill your cash flow with a large mortgage payment, car payments, and general extra spending. Enjoying your income is good, but it's crucial to prioritize other financial goals first to ensure long-term stability. 3. Delayed Retirement Savings: Many start saving for retirement 4-15 years later than others. As a result, you will need to be more aggressive with the percentage of income you set aside, given the fewer years ahead for compound growth. 4. Neglecting Tax Planning: High earners and business owners have more opportunities to reduce their lifetime tax bill. Effective tax planning can significantly improve your financial plan. Navigating these and additional issues requires a proactive approach. Our team is here to help you create a plan that secures your financial future. See thrivent .com/social for more information

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Thrivent provides advice and guidance through its Financial Planning Framework that generally includes a review and analysis of a client’s financial situation. A client may choose to further their planning engagement with Thrivent through its Dedicated Planning Services (an investment advisory service) that results in written recommendations for a fee.

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