Mr. Wizdom

09/04/2026

Your key employees are the hardest people to replace, so a benefit that speaks directly to their loyalty deserves a closer look.

An incentive bonus plan lets you reward the people who move your business forward, entirely on your own terms and your own timeline. You choose who participates in the plan, you decide the contribution and vesting schedule, and you end up with a plan that supports recruiting, rewarding, retaining, and eventually helping your top people retire, all without the discrimination testing that comes with a traditional qualified plan.

See how the plan works from contribution all the way to payout, and think about what it could mean for keeping your best people in your corner this year.

09/01/2026

At the Federal Reserve's 2026 Economic Policy Symposium, Fed Chair Warsh expressed concerns about current inflation trends. He also said that he believes “less is more” when it comes to the Fed communicating about future policy moves.

At the Federal Reserve's 2026 Economic Policy Symposium, Fed Chair Warsh expressed concerns about current inflation trends. He also said that he believes “less is more” when it comes to the Fed communicating about future policy moves. 

08/28/2026

New research from The Aspen Institute looks at what it calls “essential wealth”: a benchmark for financial resilience and major life milestones.

The benchmark includes having six weeks of take-home pay in savings, along with enough net worth to support goals such as homeownership and retirement security.

According to the report, about 34.5 million U.S. households fall short of that threshold.

The estimated net worth needed varies by age group:
18-29: $40,000
30-39: $120,000
40-49: $265,000
50-64: $530,000
65+: $775,000 for a couple with no mortgage

These figures are broad estimates and can vary based on income, location, household needs, and housing costs.

The broader takeaway is that income alone does not always show whether a household feels financially secure. Savings, assets, debt, housing, and long-term goals all help shape the bigger picture.


Source:

Three in four American households lack the wealth to weather financial setbacks and achieve major life milestones.

08/24/2026

Stocks declined last week as global investors fretted about oil-supply-induced inflation. The Standard & Poor’s 500 Index declined 1.43 percent, while the Nasdaq Composite Index slid 2.05 percent.

08/21/2026

Back-to-school season is bringing higher costs for many families.

A new analysis found that a typical basket of school items, including notebooks, lunch boxes, and index cards, is up nearly 8% compared with last year.

School lunches are also more expensive, with the cost of a typical packed lunch up 11%.

The analysis estimates families may spend roughly $4,000 per student on school supplies and lunches this year, including about $175 on school items and $3,800 on packed lunches.

Some items have seen especially sharp increases. Lunch boxes are up 27%, one-subject notebooks are up 23%, and index cards are up 22%.

Higher tariffs, imported school supplies, food prices, and energy costs are all contributing to the increase.

For families, back-to-school shopping is a reminder that seasonal expenses can add up quickly, especially when everyday costs are already stretching household budgets.


Source:

U.S. households will spend roughly $4,000 per student on school supplies and lunches this year, a new analysis found.

08/17/2026

Stocks were mixed over a sleepy summer week, as cooling inflation lifted markets while sluggish retail sales nipped at investor sentiment.

08/14/2026

If you run a business on Long Island, you have probably thought hard about your own retirement plan, but have you thought as carefully about the retirement plans of the people who help you build the business. Your 401k works well for most of your team, but it runs into real limits when it comes to your highest earners.

A nonqualified deferred compensation plan is one option worth understanding as part of a broader retirement planning conversation. It can help key employees save beyond what a 401k allows, give them more control over the timing of income and taxes, and support your own goals around recruiting, retention, and eventually succession.

Swipe through the four business needs a plan like this is often built to address, and reach out if you would like to talk through what makes sense for your business and your key people.

Note: This is general education on how these plans work, not a recommendation for any specific product.

08/11/2026

The economy unexpectedly shed 23,000 jobs in July, based on the Labor Department's report released Friday. Economists expected 83,000 jobs to be created. July's decline was the first monthly contraction in the labor market since February.

07/31/2026

What would you do with a windfall?

A business sale. An inheritance. A bonus that lands bigger than expected.

Most people assume they'd handle it well. But sudden money follows patterns. And the patterns aren't always flattering.

Psychologists call it sudden wealth syndrome: the anxiety, decision paralysis, and relationship pressure that arrive alongside a large sum. It shows up whether the windfall was a complete surprise or something you spent years building toward.

The 5 most common mistakes we see:
⏳ Upgrading your lifestyle before a strategy exists
🤝 Giving to family under emotional pressure
📊 Attempting to make decisions without professional guidance
⚖️ Freezing and making no decisions at all
📋 Missing the critical deadlines in year one

All five can be managed, but only if you get ahead of the emotions before the decisions start piling up.

The most important thing you can do in the first 90 days? Maybe nothing. Tell very few people. Then consider building a team of professionals who can offer insights and guidance.

There is rarely a cost to waiting. There is frequently a cost to moving too quickly.

07/29/2026

Stocks ended last week down as Q2 corporate results, Middle East developments, and the chips trade took investors for a choppy ride. The Nasdaq Composite Index was under the most pressure, falling 2.13 percent. The Standard & Poor’s...