Madigan Wealth Management

10/13/2026

Most Americans retire around 61, but full Social Security benefits may not kick in until 67, leaving a gap of several years that can have lasting financial consequences. Confusing these two ages can mean locking in a permanently smaller monthly benefit. Here’s what to know before you decide:

Know the difference: The average retirement age reflects when people actually stop working; full retirement age (FRA) is the legal threshold for 100% of your benefit.

Understand the early-claim penalty: Claiming at 62 with an FRA of 67 means a permanent 30% reduction, and future COLAs apply to that smaller amount.

See what waiting buys you: Delaying past FRA adds 8% per year up to age 70, turning a $2,000 benefit into roughly $2,480.

See how different claiming ages could affect your Social Security benefit: https://aol.it/4dKFgYK

Key takeaways The average retirement age and the full retirement age are two entirely different concepts. The average retirement age is a statistical measure of when Americans actually stop working, currently 61, according to Gallup’s […]

10/06/2026

Nearly half of adults under 30 now live with a parent, and it’s not necessarily a free ride: most young adults living at home still contribute to household bills. Here’s what’s driving the shift and why it matters:

Housing costs have outrun incomes: Median home prices now sit at about five times median income, compared with roughly three times in the 1990s.

It’s not always a savings launchpad: 72% of young adults living at home contribute to household bills, and for some, moving home is less about getting ahead than simply making today’s costs manageable.

The effects can extend beyond the household: Delayed moves may also affect milestones like homeownership and family formation, along with spending and retirement saving.

See how today’s housing costs are changing the path to financial independence: https://bit.ly/3VjeWPg

Living at home may seem like a financial advantage, but new data shows many young adults are still struggling to gain solid financial footing.

09/07/2026

In celebration of Labor Day, the markets and our offices are closed.

08/26/2026

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: https://bit.ly/2yZFlnw

Set your kids up for long-term financial success by teaching them early about money.

08/14/2026

Inheriting an IRA can be both a gift and a challenge. The rules are complex, but knowing the basics can help protect your retirement:

The 10-Year Rule: Most beneficiaries must fully withdraw all funds within 10 years of the original owner's death.
Minimize Taxes: Spreading out withdrawals over the 10-year period can help you manage your tax bracket and reduce your tax burden.
Consult & Communicate: If there are multiple beneficiaries, consider separating the account.
Learn what steps to take when managing an inherited IRA: https://bit.ly/fgufjsuoiklW

Managing inherited IRA distributions can be a tricky proposition. Take the time to learn the process and avoid prohibitive tax penalties.

07/29/2026

We can't believe it! Madigan Wealth Management is FOUR years old!

We are truly grateful for your unwavering support and trust. Thank you for being a part of our journey!

07/13/2026

You worked hard to save for retirement, now it's time to enjoy it. Learn how small investments in travel, hobbies, technology, and social connections can deliver lasting rewards. Read about 5 lifestyle upgrades. https://bit.ly/4vz3VpC

Reframing splurges as "intentional reallocation" of money can help you overcome spending anxiety and enhance your quality of life. Here are some suggestions.

07/03/2026

Due to the holiday, the markets and our offices are closed on 7/3/26.
We hope everyone has a great 4th of July weekend! 🎇

06/21/2026

"Any man can be a father, but it takes someone special to be a dad" -Anne Geddes

06/19/2026

In observance of the Juneteenth holiday, the markets and our offices are closed.