Blog
Emotional Wealth is a monthly Blog written by Wealth Advisor, Lon W. Broske, CFS®, CFP®. Using the current most relevant financial climate and topics Lon is able to give his opinion on what is really going on with your finances. Topics include, stock market performance, retirement savings, current events and how they impact financial climate, general financial education and tips, and much more!
Continuing Care Retirement Communities: What They Cost, How They Work, and When to Start Preparing
Why Is This Conversation So Important Right Now? The U.S. is in the middle of a sustained demographic shift. More than 61 million adults are aged 65 and older as of 2025, and that number is projected to reach approximately 82 million...
Read MoreIt’s Never Too Early to Start Planning . . .
I know, I know, we just finished the worst season of the year – Tax Season, but it’s never too early to start planning for next year’s taxes.Tax planning is a crucial part of any financial plan, yet it is surprisingly often overlooked....
Read MoreWhen Should I Start Taking Social Security: 5 Factors to Consider
Social Security decisions are often framed as a single question: “When should I start drawing benefits?” That question matters, but it can also be limiting. The better question is: how does Social Security fit into my overall...
Read MoreTeaching Teens and Young Adults Financial Literacy Through Real-Life Decision Making
If you are a parent of a teen or young adult, how do you teach them to make confident money decisions before the stakes are high? Teaching teens and young adults about money is less about formal instruction and more about repeated...
Read MoreTrump Accounts Come to Light . . .
It was one of the most talked about aspects of the OBBBA (One Big Beautiful Bill Act) that President Trump signed into law on July 4th, 2025, the creation of “Trump Accounts”, which are specifically designed for children. Summer will...
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Helping Adult Children Buy a Home: How to Gift a Down Payment The Smart Way
Key TakeawaysHere are some questions this blog aims to answer:How can parents or grandparents help with a down payment for adult children?What are ways to gift a down payment, and how do the annual gift tax exclusion and lifetime...
Read MoreThree Numbers Every Woman Should Know
Key TakeawaysHow much wealth are women on track to control in the next decade, and why does that matter?What does the life expectancy gap between women and men mean for how long money needs to last?How common is it for women to be...
Read More50 years to get to 50K . . .
The Dow Jones Industrial Average (DJIA) hit 50,000 for the first time in history on February 6th. While the milestone only garnered a few small headlines, the impact of reaching such a monumental milestone cannot be underestimated....
Read MoreTax Prep vs. Tax Strategy: The Difference Matters More Than You Think
Key TakeawaysTreat tax strategy as a continuous process, not a once-a-year filing exercise.Coordinate with financial and tax professionals throughout the year to identify opportunities for efficiency.Review contribution limits,...
Read MoreUnderstanding the Emotions Behind Financial Decisions
Key TakeawaysEmotions and biases might influence financial choices more often than most people realize.Behavioral patterns, such as loss aversion, familiarity bias, and herd mentality, can impact long-term results.Recognizing emotional...
Read More“It’s Not Worth My Time” . . .
I’ve been thinking about time a lot lately. It’s a precious commodity that most of us take for granted. Time is the most precious of commodities, given that we can never get it back once it’s used. Oh sure, we can maybe buy a bit more...
Read MoreAI and the New Face of Fraud: How to Protect Your Identity and Finances in 2026
Artificial intelligence (AI) may be the most revolutionary technology of our time, with industries scrambling to embrace its possibilities. AI’s early influence seems similar to the positive disruptions brought about by past...
Read More2025 in Review and What You Should Know
As we begin a new year and consider the opportunities ahead, reflecting on the past year helps put today’s financial landscape into perspective and informs the strategies that can move us closer to our goals. 2025 was a year marked by...
Read More2025 comes down to just 10 days.
When I was a kid, a whole year on the calendar seemed to take forever. 365 days is a LONG time when you’re a kid, and now that I’m older, it seems that the calendar turns a lot quicker than I would like.Imagine how quickly you would...
Read MoreGoal Setting That Sticks: Simple Ways to Turn January Motivation into Lasting Wins
Key Takeaways and Suggestions for Successful Goal Setting Use SMART Goals for Clarity and FocusSet goals that are Specific, Measurable, Achievable, Relevant, and Time-bound. This proven method helps break big ambitions into manageable...
Read MoreYear-End Giving Strategies: Tax-Smart and Impactful
Key Takeaways A third of annual donations: About one-third of all charitable contributions are made in December. Donating before December 31 may offer tax advantages. New rules starting in 2026 (via the OBBB Act) may affect deductions...
Read MoreThe Cure for Volatility Fear is easier than you think . . .
Most of my writing lately has focused on the important subject of investor psychology. My reasons for doing so are specific – because the investment brain is not hardwired for success, quite the opposite, actually, it’s set up for...
Read MoreThe True Costs of Caring for Aging Parents
Key Takeaways Caring for aging parents is a growing reality for many Americans. The number of family caregivers in the U.S. has jumped to 63 million, a 45 percent increase over the past decade, making 1 in every 4 Americans a...
Read MoreMoney Talks: How to Use Holiday Gatherings to Start Family Financial Conversations
Key Takeaways Year-end holidays may be a good time to initiate a discussion about financial matters that may impact your family. If you have adult children, you may want to discuss your financial situation, estate strategy, and legal...
Read MoreSo, I’ve Been Thinking . . .
I think about money a lot! Mostly, I think about my clients and their own relationship with money to better understand their motivations and behaviors. That understanding is critical in guiding and advising them to make smarter...
Read MoreShould You Pay Off Your Mortgage Early?
Receiving a bonus, inheritance, or an increase in income often prompts a key financial question: Should I use this money to pay off my mortgage, or invest it? At first glance, the answer might seem simple. But in reality, it requires...
Read MoreA 2025 Guide to Protecting Seniors from Fraud
If you’ve found yourself stepping into a more active role in your parents’ financial lives, you’re not alone. Some of us are helping aging parents navigate everything from healthcare decisions to bill payments—and increasingly, we’re...
Read MoreHome Runs Aren’t Necessary . . .
“Chicks, dig the long ball” – 1999 Nike Commercial Turns out investors aren’t so different from baseball players – they want home runs. One of the most dangerous misconceptions in investing is that achieving a home run with an...
Read MoreSmart Moves to Consider Before Year-End
The final months of the year can sneak up quickly, and with them come deadlines, decisions, and distractions. Before the holiday season takes over your calendar, fall can be a valuable window to revisit your financial strategy and...
Read MoreBreaking Down the One Big Beautiful Bill Act: What You Need to Know
The Tax Cuts and Jobs Act of 2017 (TCJA) included lower federal income tax brackets, bigger standard deductions, and higher gift and estate tax exemptions, among other provisions. The law stipulated that some of those tax breaks would...
Read MoreYour Move, Mr. Chairman . . .
Investors will be sitting on pins and needles waiting with bated breath when the Fed meets on September 16th and 17th, where it’s widely expected that Fed Chairman Jerome Powell will give guidance as to where interest rate policy will...
Read MoreWhy More Families Are Choosing to Gift Wealth Earlier—and How to Do It
Estate management isn’t just about what happens after you’re gone— it’s also about what you can do now to help manage future estate taxes, transfer wealth strategically, and attempt to create a meaningful impact during your lifetime....
Read MoreWhat You Need to Know About the 2025 Changes to Inherited IRA Rules
The rules regarding inherited IRAs have changed in the last five years, and failing to comply with the new requirements may result in IRS penalties. These changes affect people inheriting IRAs and those looking to leave retirement...
Read MoreBreaking Down OBBBA . . .
(Let me preface this commentary by reminding you dear reader that I am politically agnostic, as party lines are not important, my only goal is to understand how these types of bills, when signed into law affect our clients and to make...
Read MoreBeyond Salary: Understanding Your Total Compensation
Compensation is more than just a number on a paycheck. Whether you're exploring new opportunities, preparing for a promotion, or evaluating your current benefits, it’s important to understand the full value of your total...
Read MoreHow Much Do You Really Know About Stock Market Indexes?
While you may follow the various stock indexes on the nightly business news, how much do you know about their histories, how they work, and why they're important? We pulled together some information and interesting facts about some of...
Read MoreEven Financial Advice Gets Stale . . .
In today's fast-paced world, where access to information is available at your fingertips 24/7/365, it's not hard to find financial advice. The issue is not finding it. It's whether or not it works. Today's financial world is not the...
Read MoreHow Do You Turn Retirement Savings into a Reliable Income Strategy?
You’ve likely spent years building your retirement nest egg—saving diligently, investing wisely, and contributing to retirement accounts along the way. But transitioning from earning a paycheck to relying on your savings can feel...
Read More“The Four Most Dangerous Words In Investing Are: ‘This Time It’s Different.’” – Sir John Templeton
Despite those who say the conventional wisdom that has guided investor actions over the years is no longer valid in 2025, remember the famous quote from legendary investor Sir John Templeton: "The four most dangerous words in investing...
Read MoreIs International in Play? . . .
Oh, how the tides have turned. For the last decade, investors would have preferred to have their eyeballs gnawed out by an angry beaver while riding a seatless unicycle rather than buying international companies. In other words,...
Read MoreWhat’s the Job Market Look Like for 2025 Graduates?
It’s graduation season—a time of celebration and new beginnings. For families with college seniors, this time can bring both excitement and uncertainty. While some graduates have jobs lined up, many others still are navigating job...
Read MoreIs It Smarter to Buy or Rent a Second Home?
As summer approaches, your thoughts may drift toward escaping your daily routine. Whether your idea of a perfect vacation is sitting on a pristine beach, fishing in a mountain lake, or playing the back nine between pickleball matches,...
Read MoreSocial Security – Fact vs. Fiction . . .
I usually have a good sixth sense of what's weighing on investors' minds. Part of that intuition stems from the number of questions we get from clients during our frequent meetings. At the top of the list over these last few months,...
Read MoreFrom College Acceptances to Affordability: Considerations for Families in the Final Stretch
April is a pivotal time in the college admissions process. After years of preparation, saving, and investing—not to mention the countless hours spent on exam prep, campus visits, and perfecting applications and essays—the finish line...
Read MoreSpring Into Financial Wellness: Actionable Steps for Financial Literacy Month
April isn’t just about filing taxes—it’s also Financial Literacy Month, a perfect opportunity to reflect on your financial habits, expand your knowledge, and take meaningful steps toward improving your financial well-being. Whether...
Read MoreThe Anniversary We’d All Like to Forget . . .
It was a little over 5 years ago, yet the older I get, 5 years seems only a moment ago. What a wild time in history it was when markets were crashing, economies were closed down, human contact wasn’t allowed, where standing six feet...
Read More10 Things You Can Do Now to Help Simplify Your Estate for Your Heirs
One of the greatest gifts you can give your loved ones is a thoughtful estate strategy that outlines your wishes after you are gone. Discussing estate details with your team of professionals is another way to help manage your legacy...
Read MoreThe Evolving Role of Women in Family Finances
March is Women’s History Month, and according to a recent survey, 49% of women consider themselves to be the chief financial officer of their households, up from 41% in 2021.1 Those numbers are even more impressive when you consider...
Read MoreLet’s Talk Tariffs . . .
Let’s just put all the cards on the table – Is all this talk of tariffs from the new administration going to sink the economy as everyone fears? First, the answer to that question is unknowable because, as you have heard me pontificate...
Read MoreDon’t Leave Money Behind: Finding Your Missing 401(k)s
You've worked hard throughout your life to build assets to support your retirement. As financial professionals, one of the most critical functions we provide is helping clients determine their retirement income needs and structuring a...
Read MoreTax Season Brings a New Wave of Identity Theft Risks
Tax season brings a new wave of identity theft risks, with criminals ready to exploit your personal data to file fraudulent tax returns in your name. Imagine the shock of discovering that a criminal beat you to filing your...
Read MoreThe Process of Wealth
Creating wealth is a mystery as old as time. Like it or not, there is no guaranteed way to create wealth, and heaven help those who are looking for that guaranteed way because they are not likely to find it. Wealth can be created in...
Read MoreCreating the Perfect Conditions for Patience . . .
2024 was an exciting year for investors. It was the second consecutive year for double-digit returns in most of the equity markets – it didn't matter what you owned: Large, mid, small, or all. They all did well. During last year alone,...
Read MoreWhat’s the plan?
You need to have a plan. What do I mean? My job for the last 30 years has been to help my clients formulate a lifelong investment plan based on historical returns that will be utilized within a well-crafted financial plan. The plan...
Read MoreUncertainty heads toward the finish line (Finally!) . . .
It will be all over in 5 short days, or should I say 5 L-O-N-G days. Of course, I'm referring to the presidential election. Is it just me, or does it seem like this presidential election cycle has been dragging on for an eternity? On...
Read MoreThe investment that hardly anyone is disappointed with . . .
Is there such a thing as a perfect investment? I mean, every investment has advantages and disadvantages, right? Even cash, with its fixed rate of interest after adjusting for taxes and inflation, can be an anchor around the neck of...
Read MoreThe Disaster of Distractions . . .
Distractions are everywhere. It's 24/7, especially since the invention of the smartphone and its evil counterpart – social media. Distractions are relentless and overbearing. They don't quit, and they never falter. The mainstream media...
Read MoreLets's Go Charting . . .
Every few months, I break the rhythm of my writing and present interesting charts that have caught my eye. Here are some of my favorite charts, along with some thoughts about each one: What Volatility? - If you've felt like the market...
Read MoreDebt Anxiety . . .
I think we can all agree that the pandemic has changed the world in many ways, some good and some bad. The worst part of the change caused by the pandemic has been that governments worldwide have borrowed and spent recklessly, chucking...
Read MoreOwning Stocks vs. Owning Successful Businesses
A rather poignant question should be asked of anyone who proclaims themselves to be an “investor": What's the end goal? In other words, what are you trying to achieve by investing your money? Most investors will tell you that their...
Read MoreThe Cybersecurity Genie is Out of the Bottle (and it’s not going back) . . .
It happened again. Just this week, I got an email from a client informing me that their data had been compromised by a former bank they used for a loan. Almost monthly, I get an email just like this one from a client. I recently...
Read MoreThe Great Taboo. . .
We Financial Advisors are a fickle bunch. We have different ideas and strategies for creating wealth. There is no universal path to wealth creation. What strategies may work for one may not necessarily work for another. It's...
Read MoreThe Uselessness of Prognostication . . .
I have regurgitated throughout my client writings how useless prognostication is for investors. Yet, it often comes up in conversations, where clients will invariably ask me to comment on a talking head predicting a market crash....
Read MoreHappy vs. Meaningful
It's a question that has plagued humanity since the beginning of time – How does one go about living a happy life? What does a happy life even look like? What may seem happy to you may look like unhappiness to others...
Read MoreNow What Happens . . .
Now What Happens. . . Standard Disclosure: I have no earthly idea what is going to happen in 2024, but then again, neither does anyone else, and if I may be even more direct – I doesn’t matter what happens,...
Read MoreLessons from Charlie...
Charlie Munger was one of the great ones. While he may not have been the face of Berkshire Hathaway, he was Warren Buffet's equal. For 60 years, they stood side-by-side as partners and ran one of America's most successful and enduring...
Read MoreSome Lessons Go Unlearned . . .
Sometimes, I'm amazed at how a lesson can be taught so many times yet still needs to be learned. Investors have a knack for doing that. Why is that? Why do investors have such a hard time learning from the lessons of the past? Is...
Read MoreThe Permanent Bull Market
As I recently celebrated my 5th decade (plus a few more years), I look back at my life and realize that it’s been an eventful journey full of twists and turns, unexpected obstacles, and pleasant surprises. I couldn't be happier...
Read MoreEconomic Eye Candy
I like changing our blog every few months by expressing my thoughts in easy-to-read charts. Sometimes, the most effective way to communicate is through visuals. So, without further adieu, here are some of my favorite...
Read MoreAn Interesting Question...
A few weeks ago, a poll posed a fascinating question for investors: “Would you rather outperform during bull or bear markets?". To my shock and amazement, by a margin of nearly two to one (63% vs. 37%), respondents...
Read MoreWhat happens when you hit your number?
What happens when you hit your number?All of you have a number. It's a number that's specific to you and your particular situation. It's a number that will allow you to reach your goal of financial independence. In other words, enough...
Read MoreIt's not about what you think it's about...
It's not about what you think it's about . . .As I enter my 30th year of advising clients (Wow, just now writing that hit me like a ton of bricks), I recently took time to reflect on what's happened with my clients, my practice, and...
Read MoreTwo Strange Bedfellows
Two Strange Bedfellows . . .They are unavoidable. Any investor who wants to be rewarded with the superior long-term performance equities provide will experience at least two things along their journey: a bear market and a...
Read MoreLessons Learned from the SVB Collapse
In the old days, the veracity and speed at which Silicon Valley Bank (SVB) collapsed could never have happened. Making a run on the bank meant standing in long lines, where rumors spread at a snail’s pace (as compared to...
Read MoreA Lesson Relearned (Again!)
It’s a lesson that has been taught many times over many years yet still goes unlearned. This lesson has gone as far back as the late 1700s with the Buttonwood Tree Agreement, yet still catches young investors today –...
Read MoreThe Crazy Normalcy of 2022. . .
I don't think anyone can look back at 2022 and consider it a "normal" year. Equity markets experienced a bear market for the first time since 2009, and bond markets had their worst year in over a century; meanwhile, cash was getting...
Read MoreThe Power of Resilience
The Power of Resilience History can be two things at once: a blessing and a curse. History can be a curse for the short-term stock trader and a benefit for the patient long-term investor. Short-term traders know how...
Read MoreThe Only Constant is Change
As I grow older, I'm learning to appreciate the nostalgia. The brain doesn't deal with change very well. Case in point: when your life gets out of sorts, how good do you feel when you get back into "your routine"? How often have...
Read MoreBear Market History
“There is nothing new in the world except the history you do not know” – Harry TrumanIt’s all a matter of reference. This bear market began for different reasons yet has done the same damage to investor...
Read MoreSocial Security Increased 2023
Looks like the 65 million Americans collecting social security will receive an 8.7% increase in their 2023 checks. Here’s a brief history of Social Security increases. ...
Read MoreTime has been forgotten...
Every long-term investor with more than 12 years of experience knows the definition of a bear market (a 20% drop from its most recent high). But what about the investors who have less than 12 years of experience? (12 years...
Read MoreExcuse me but I have questions...
I’ve always been this way; I just can’t help myself. I’ve always had questions pertaining to the status quo. It started in grade school, and continues to this day in my financial planning career. ...
Read MoreThank's Dad . . .
Father’s Day is a special time for so many of us. It’s a time to reflect on the meaning of that one special person you've had in your life, who had a big influence on the person you’ve become. Throughout...
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Biden Signs Infrastructure Bill
At the White House on Monday November 15th, President Biden signed a $1T bipartisan infrastructure bill set to enable enhancements for transportation and utilities over the next five years.1 Like it, love it, or hate it. It's now law....
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Supply Chain Pain
One of the more important buzzwords this year has been "Supply-Chain". If you weren't familiar with that concept before 2021, I'm sure that you are now. The state of the global supply chain remains in focus for both Wall Street and...
Read MoreA quick note on inflation
"Inflation is transitory" If I hear that regurgitated one more time, I'm going to lose my lunch, right here in my office. What exactly is transitory mean anyway? Of course, specificity has never been a politician's strong suit. While,...
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Good News about your Social Security
It's that time of the year again! On October 13, 2021, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 5.9 percent cost-of-living adjustment (COLA) for 2022, the largest...
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Are Capital Gains Taxes Changing?
As the most recent elections finish up, there is a renewed focus from the Biden administration to push through his Build Back Better plan and potential tax law changes, including an adjustment to capital gains taxes. One of the...
Read MoreAnd now for something completely different . . .
In my own small way, I’m always thinking about how our message to our clients can be timely, relevant, and relatable. I’ve struggled for years, often having “writer’s block” as to what message these...
Read MoreA Note About Inflation
It's quickly become this year's buzzword, investors everywhere are talking about it, and it's not hard to miss: What is it you ask? Inflation. As the economy continues to recover from the effects of the pandemic over the past year,...
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Handling Market Volatility with Confidence
"The only thing we have to fear is fear itself" - Franklin D. Roosevelt, from his 1933 inaugural address. I love that quote, it was quite a proclamation in 1933, and it can certainly be helpful for today's investors. Just look back at...
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A Roaring Start to Earnings Season
Investors have turned their attentions to the most important season on the calendar, and unlike most seasons that come only once a year, this season I'm talking about come four times a year. Yes, that's right the corporate earnings...
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Oil Prices Hit Six-Year High
On July 6, oil prices reached a six-year high of $76.98 a barrel. This benchmark came as the Organization of the Petroleum Exporting Countries (OPEC) and allies failed to reach an agreement regarding an increase in production.1This...
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The answers you seek are not where you are looking...
Who else thinks that the world has gone stark raving mad? I think we can all agree that the last 18-months has made for one epic chapter in the book of history. I mean we’ve experienced a pandemic, continuing social...
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History doesn’t care about your narrative . .
While 2020 certainly was one of the most challenging years of recent memory, it simply doesn’t hold a candle to 1968.
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One bite at a time . . .
Start investing, and keep investing. No matter the state of the economy, equity markets, bond markets, or what political consternations are happening around you. Every contribution you make, you’re taking another bite! Just keep putting
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Aesop . . . The Greatest Investor of all
A quick question for you: When it comes to your own investments, and the psychology of owning those investments, are you like the Hare or the Tortoise?
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Finally, my suspicions are confirmed . . .
As I enter my 28th year of advising clients and for which I’ve spent the greater part of the last 15 years writing commentaries for clients, that my suspicions about the mainstream media has finally been proven correct.
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A Year of Lessons
A Year of Lessons I think that we all can agree that 2020 had its share of challenges. No matter the person, nor the circumstance, we may not have all been in the same boat, but we certainly were in the same storm. The gambit of the...
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The Great Unknown In Retirement
The Great Unknown in Retirement We plan. That’s what our firm does. We plan for our client’s future financial goals. We ensure that every “i” gets dotted, and every “t”, gets crossed. We plan...
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An Investment Cycle has to Cycle
An Investment Cycle has to Cycle . . .I had recently sat in on a conference call, where we discussed the current status of the COVID pandemic, and during the presentation, something caught my ears, and triggered my inspiration for this...
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Can You Deduct Your Work From Home Expenses on Taxes?
The ongoing COVID-19 pandemic has kept countless people working from home for months now. Many have been wondering whether they should consider claiming the home office deduction on taxes next year so we thought we’d pass along...
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Careful . . . Your Confirmation Bias Is Showing
the psychology of being a long-term investor by digging deeper into confirmation bias. Confirmation bias as become so prevalent in today’s highly charged political climate, that the long-term, patient goal driven investor may ignore ...
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I Choose Hope
In this edition of Emotional Wealth, we discuss the importance of hope and love in these difficult times. We also discuss how far we've come as a society, in a relatively short period of time by historical standards, and that having hope...
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"The Fallacy of Safety"
A byproduct of panic is to re-evaluate how much risk you are taking, and how much “safety” you should have in our own investment strategies. You can’t avoid the conversation around “safety” because it surrounds the investor and here's why.
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"Enjoy the Journey"
Enjoy the Journey . . . The world is lost, or so I keep hearing. It seems by all appearances that a great many people are troubled by today’s headlines and happenings. COVID-19, social injustice, the movement to unlink the past...
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The Greatest Threat to Your Long-Term Goals
Let me first begin this little diatribe by thanking my clients, and expressing my sincerest appreciations of their continued trust and confidence. These times are not easy, and the long-term, goal-focused, planning-driven investor is under
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"Lessons Learned From The Rubber Band...."
As I sit to write out my thoughts during this most calamitous of equity markets, I can’t help but think of that common office staple: The Rubber Band. The rubber band is complex in its chemical makeup. Technically speaking rubber...
Read More"Welcome To Normal"
What is normal? Of course, I’m not referring to the small town located in the middle of Illinois where the campus of Illinois State University resides, and where you’re bound to notice the “Welcome to Normal”...
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