MGK Wealth

10/16/2026

The government just opened investment accounts for more than 60 million children. And many parents may not even know it.

On October 1, the U.S. Treasury announced that it had automatically established Trump Accounts for more than 60 million additional children under 18.

No application. No parental permission required.

If you haven't heard of Trump Accounts, they're a new type of tax-advantaged investment account designed to help children start building financial assets early in life.

Here are a few things worth knowing:

• Eligible children born between 2025 and 2028 may receive a one-time $1,000 federal contribution. But a parent or other authorized adult must take action to claim it.

• Families and others can generally contribute a combined $5,000 annually, with certain exceptions.

• The money is generally invested in low-cost U.S. stock index funds, and withdrawals are restricted during childhood.

• Once the child reaches adulthood, traditional IRA rules generally apply. That means taxes and withdrawal restrictions matter.

And here's what's new: Treasury has now established accounts for eligible children even when their parents never signed them up.

An account being created doesn't mean money has been deposited into it. Families still need to take steps to claim and manage the account.

I think this is important information for parents and grandparents to have. Not because everyone should immediately start contributing, but because you should know what accounts exist in your child's name and understand how they work.

Before putting your own money into one, understand how it compares with other options, including 529 college savings plans.

You can learn more and find instructions at TrumpAccounts.gov.

And if you know someone raising young children, pass this along. They may have no idea.

10/16/2026

An extra shift can do a lot. It can cover a kid’s braces, fill in after a slow month, or move a vacation from “maybe” to booked. When you’ve counted on those hours for years, turning one down can feel irresponsible.

But sometimes the regular expenses quietly grow around the overtime. The car payment, summer camp, even the amount you plan to save each month all assume you’ll keep saying yes. Now a free afternoon feels expensive, even if your paycheck is bigger than it used to be.

There may be a season when the extra hours are exactly the trade you want to make. I just think it’s worth knowing whether you’re working them for something you chose or because your everyday life now requires them.

The money is the same either way. The difference is whether you can still say no.

10/15/2026

Here's something interesting.

According to Reuters, more than 40% of the companies in the S&P 500 have actually lost value in 2026. And the typical stock in the index is up only about 4%.

How is that possible?

Because the S&P 500 doesn't give every company an equal vote. The bigger the company, the more influence it has on the index's performance.

So when a handful of giant companies have an exceptional year, they can pull the entire index higher, even while hundreds of other companies struggle.

Now here's where this matters to you.

If your portfolio is diversified across different types of investments, you may not be seeing the same returns you're hearing about on the news.

That doesn't automatically mean something is wrong with your portfolio.

It also doesn't automatically mean you're properly diversified.

The question is whether you understand what you own, why you own it, and what risks you're taking.

Because beating the S&P 500 and building a portfolio that's right for your life are two different objectives.

10/15/2026

Social Security benefits are increasing 3.6% in 2027. For the average retired worker, that's about $75 more per month, or $900 over the course of the year.

Good news, right? Well, there's more to the story.

Social Security has been providing cost-of-living adjustments for decades, with the intention of helping retirees keep up with inflation. But there's a problem with how those increases are calculated.

The formula is based on an inflation index that reflects the spending habits of working Americans, not specifically retirees. And we know that retirees often spend a greater portion of their income on things like healthcare, housing, and other necessities.

So while Social Security checks have gotten bigger over the years, their purchasing power hasn't necessarily kept up.

In fact, a 2026 study by The Senior Citizens League estimates that Social Security benefits have lost 13.7% of their purchasing power over the past decade.

Think about that. You can receive an increase in your Social Security check every year and still afford less than you could ten years ago.

And when you're retired, that's a big deal. Especially when you consider that retirement could last 20 or 30 years.

This is something I talk about when planning for retirement. It's not enough to know how much income you'll have when you retire. We also have to think about what that income will actually buy you ten, twenty, or thirty years down the road.

Because the goal isn't just to have enough money to retire. It's to have enough to continue living the life you worked so hard for.

Swipe through the three slides to see how Social Security adjustments have changed over the years, why they don't always keep up with retirees' expenses, and what that loss of purchasing power can look like.

10/15/2026

One week from today, set aside 40 minutes to focus on your financial priorities before the holiday rush.

Join me for “Don’t Wait Until January.” October 22 at 12 PM Central / 1 PM Eastern.

Reserve your spot through the link in my bio.

10/14/2026

Schoolhouse Rock in 2026

10/14/2026

More money can solve a lot of problems. But it can’t undo a pattern of making decisions you keep regretting.

The house that looked impressive but feels heavy. The purchase that made sense for five minutes. The investment you didn’t really understand. The commitment you made because saying no felt uncomfortable.

Financial peace isn’t about never making a mistake. Everyone does.

It’s about getting better at making decisions that still feel right after the excitement, pressure, fear, or ego wears off.

Because eventually, the goal isn’t just to have more money.

It’s to have fewer reasons to wish you had handled it differently.

10/13/2026

U.S.-Canada relations, already tense, are likely to deteriorate further after the United States went ahead early Tuesday with a decision to ban nearly $1 billion worth of Canadian imports, including alcoholic beverages, dairy products and motorcycles.

10/13/2026

Having both a pension and a 401(k) can put you in a stronger position heading into retirement. But it also creates decisions that aren't always as straightforward as they seem. After decades of working, saving, and contributing to...

Having both a pension and a 401(k) sounds like a great retirement setup. It can be. But the real question is how those two income sources should work together once the paycheck stops.

10/12/2026

For defined contribution (DC) plan committees, target-date funds remain the default investment workhorse. They continue to dominate qualified default investment alternative (QDIA) selections and, for many participants, represent the entirety of their retirement strategy.