Messett Financial

06/03/2026

Trump Accounts. By now you’ve probably heard about these, and maybe even done a little reading about them, too.

But what are they, exactly?

Who — and what — are they meant for? And are they right for you and your family?

First announced as part of the One Big Beautiful Bill Act that went into law last year, Trump Accounts officially launch on July 4, 2026.

Below is some basic information on how Trump Accounts work, as well as some other options to consider when helping a child save for the future.

05/29/2026

05/25/2026

Every Memorial Day, we commemorate our nation’s greatest heroes.

Words cannot fully express the awe and gratitude we feel for the work and sacrifice of our military personnel.

But there are others we should commemorate too.

The families those heroes leave behind. The mothers and fathers who gave their sons and daughters to the cause of freedom. The wives and husbands who became widows and widowers. The children who lost parents, the brothers and sisters who lost siblings.

We must remember their sacrifice.

Their devotion.

There are no words appropriate enough.

No gestures adequate enough.

But we must do our best to show that at least we remember…and that we will never forget.

05/21/2026

From the majestic slopes of the Alps to the sun-kissed beaches of Cape Hope. From the serene beauty of Mount Fuji to the vibrant streets of Rio de Janeiro. Every one of these destinations has a unique charm. The hardest part of any vacation for me? When it ends.

We have often wondered at the end of a great vacation, “What if we had a home here?”

Have you ever thought that too? Turning your dream destination into a part-time residence?

Of course, as you and us know, having a home overseas comes with its own challenges, especially when it comes to finances. Managing taxation, maintaining your business, and navigating complex legal systems can quickly turn that dream into a source of stress.

If you are ever planning on living abroad, here are five big things to pay attention to:

💸 It’s generally well-known that if you spend 183 days or more in a country, you may be taxed as a resident. But many people don’t know that, depending on what you do in a foreign country (based on a ‘Center of Vital Interests’ rule), you could be subject to full taxation no matter how long you are there. [1]

💻 If you are a business owner or executive, doing business while overseas could inadvertently create a “permanent establishment” for your company in that country. That would make it liable for taxation there. [2]

🏠 If you want to make your overseas dream home your permanent home, the U.S. may treat your global assets as if they were immediately sold at fair market value, and you would be subject to any capital gains on unrealized gains. [3]

💰 You will need to disclose any accounts held overseas that exceed $10,000 (at any point) on your tax filing. [4]

👨‍👩‍👦 Some countries have “forced heirship” laws. They will force specific percentages of your assets to your children or spouse, regardless of what’s stated in your U.S.-based will or trust. [5]

Now, make no mistake: Having a home overseas can be wonderful! You just have to follow the rules.

So, if you ever dream of living abroad, always remember that we are here to answer your questions.

Source:
1. https://www.irs.gov/forms-pubs/about-publication-519
2. https://www.oecd.org/en/topics/oecd-model-tax-convention-on-income-and-on-capital.html
3. https://www.irs.gov/individuals/international-taxpayers/expatriation-tax
4. https://www.irs.gov/businesses/corporations/summary-of-fatca-reporting-for-us-taxpayers
5. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32012R0650

05/19/2026

It’s time for a little Tuesday Trivia!

Approximately 70 million Americans are participants in some sort of 401(k) plan.

But do you know what the number “401” actually means and where it came from?

A) It comes from the now-expired rule that $401,000 was the original limit for how much money each account could contain.

B) It is named for Section 401, Subsection K of the Internal Revenue Code

C) It is named for Section 401, Subsection K of the Setting Every Community Up for Retirement Enhancement (SECURE) Act

D) It comes from page 401, paragraph K of the Social Security Act of 1935, which was designed to help Americans during the Great Depression.

And the answer is…

B) Section 401, Subsection K of the Internal Revenue Code. First enacted in 1978 and signed into law by President Jimmy Carter as part of the Revenue Act, the creation of 401(k) accounts was part of a broader effort by Congress to reduce taxes for both individuals and corporations.

05/14/2026

For many people, summer means summer vacation…and vacation means a road trip!

Road trips are one of the best ways to travel. They enable us to explore corners of our country that we wouldn’t get to see otherwise. They often lead to the greatest memories and most enjoyable adventures.

But road trips can also be expensive. Depending on a number of factors, including time, distance, and the number of people going along, they can sometimes be pricier than flying. And when something unexpected happens, it’s easy to blow your budget before you’re even halfway to your destination.

With that in mind, here are a few simple, common-sense tips on how to save money on your next road trip. None of these are mind-blowing, but most are easy to forget…and when you add them all up, they can really make a difference in the long run.

05/12/2026

Spring is in the air, but it’s the perfect time to start planning for your summer escape! If you haven’t thought about your trips yet, here are a few things to consider when planning.

- Maximize your travel dollars – Use your points/credit with any credit cards you have on flight and hotel travel expenses. Keep an eye out for online deals to save. Many have offers when combining trips or airfare and hotel together. Start looking for those deals NOW.

- Traveling to multiple locations? It’s a smart option to consider visiting multiple areas during the same period to reduce spending for numerous trips. Use alternatives instead of hotels, map out any vacation properties or family and friends along the way that you can stay with overnight. It can make the trip more memorable by visiting those you haven’t seen in a while.

- Plan for the unexpected – After budgeting for the trip, add in a buffer for those unforeseen expenses like cell phone roaming charges, foreign transaction fees, currency exchange fees, souvenirs, tourist taxes, etc. Suggestions vary, but we’ve seen recommendations to budget for around 10% to 20%. Each spending plan differs, so tailor these guidelines to your financial comfort zone.

- Manage your expectations — it’s rare for families to have unlimited money or time for vacation plans. Be realistic about your travel plans to avoid the assumption that each trip must be bigger and better than the last. Consider doing those bigger or longer vacations every other year, then you can plan the shorter trips in between.

Summer is right around the corner. Where will your wanderlust take you next?

Happy travels!

05/08/2026

Some firsts, you never forget. Your first car. Your first love. Your first big job.

But nothing quite compares to the firsts that come with motherhood.

The first time a mother holds her child and realizes life will never be the same.

Hearing a child’s first laugh. Watching their first steps. Celebrating their first birthday.

Watching them walk through the doors on their first day of school.

Gripping the passenger seat grip handle during their first driving lesson.

Coping with the first time their bedroom stands empty because they’ve left the nest for good.

Mothers go through so many firsts. Funny firsts and happy firsts; scary firsts and sad. And by doing so, they ensure that we get to experience all the firsts in our lives.

Every first smile, every first word, every first brave step forward…they all happen because of someone cheering quietly in the background, holding out their hand, and offering unconditional love and encouragement.

Because our mothers make it possible.

To all mothers, thank you for your patience, your sacrifices, and your endless capacity to love and to lift others, one “first” at a time.

Wishing you a joyful, love-filled, and well-deserved Mother’s Day.

05/05/2026

Have you ever wondered what the alphabet soup after an advisor’s name means?

We all know that a Ph. D is a Doctor of Philosophy, an MD is a Medical Doctor, an MBA is a Master of Business Administration, and so forth, it goes on into the more obscure post-nominal letters.

So, what about all those fancy letters after an advisor’s name? What do they mean, exactly?

While not an exhaustive list, here are some of the more common, as well as some of the more prestigious designations an advisor can earn.

Keep in mind, these designations may show an advisor’s commitment to better serving their clients, but a designation alone doesn’t mean they are a great advisor for you.

Conducting your own due diligence cannot be emphasized enough.

04/28/2026

As financial advisors, one of the most rewarding aspects of our job has nothing to do with the stock market, taxes, or retirement. It’s helping families achieve “financial harmony in the home” by getting everyone on the same page, setting joint goals, and sharing plans, feelings, and important information with each other.

There are many types of conversations families can have with each other to achieve this. One of the most important centers on family financial preparedness.

Family financial preparedness involves having a family meeting to discuss your plans and intentions for your money should an unexpected death, disability, long-term illness, or financial catastrophe happen to you or someone in the family.

Specifically, it’s important for you and your family to discuss the following:

• What actually constitutes a “financial emergency” that could affect multiple generations and branches of the family.

• Whether any insurance policies, emergency funds, or savings accounts exist to help the family cover the costs of these events, and if so, who has access to them and where they are located.

• Which funds or accounts should NOT be tapped unless there is simply no other choice.

• How each family member can pitch in, whether professionally, financially, or just by helping out with things like housework and meal preparation. By clarifying roles and expectations now, you can reduce the possibility of surprises or uncertainty later on.

• What professionals to turn to or contact in the case of a family emergency, including medical, legal, and financial professionals.

• Where important documents are stored, including deeds, titles, wills, birth and marriage certificates, passports, etc.

• Where and how to access any password manager for your online accounts.

It’s never fun to think about these types of possibilities, much less talk about them — but it’s amazing how much peace of mind you can attain by doing so! It’s like taking a weight off your shoulders you didn’t even realize you were carrying, because it’s been there for so long.

Discussing Family Financial Preparedness ensures that everyone knows exactly what to do should the unexpected happen.