Summit Financial Advisors

06/01/2026

A parent puts their child on the deed to avoid probate. Makes sense, right? Except the IRS may treat it as a gift — and instead of inheriting the home with a stepped-up basis, the child gets the parent's original cost basis. On a home that's appreciated for decades, that could mean capital gains taxes on hundreds of thousands of dollars.

A forgotten form can override your will.

05/08/2026

“Worry often gives a small thing a big shadow.” — Swedish proverb When you think about retirement spending, does it feel clear — or does it feel heavy? Click below to explore how retirement spending actually changes over time. The patterns may surprise you — and take some of the pressure off.

New research challenges old ideas of retirement.

05/01/2026

When you think about retirement, what concerns you more right now: enjoying the early years enough, or making sure later years feel more secure? That tension is real. But it often comes from picturing retirement as one steady phase where nothing changes.

What is the point of retirement?

04/24/2026

Does retirement spending really stay the same year after year? Many people might assume it does. But researchers tend to see something more dynamic: •Early on, spending often reflects freedom and energy, with more going toward travel, hobbies, and long-planned experiences. •Over time, routines tend to simplify, priorities shift, and spending naturally adjusts. •Later, overall spending often drops, even as health-related costs become more prominent. These patterns suggest that retirement rarely follows a flat, unchanging path. And understanding that can influence how you think about planning.

Data shows retirement rarely follows a steady path.

04/17/2026

When you think about retirement, what worries you more?

Spending too much too soon? Or holding back so much that you miss out on the years when you feel your best?

Many people feel that tension. Not because they haven’t planned carefully.

But because retirement can feel like a high stakes balancing act.

When researchers study how spending may change across retirement, they see patterns people may not expect.

Retirement is for living, not just saving.

03/20/2026

Skill or luck—where do most of the good things in your life come from? What about the not-so-great things? Believe it or not, a lot of us automatically take credit for the good stuff in our lives. And we’re just as quick to blame the bad on misfortune. If it’s good, it was all me! If it was bad, it was just bad luck, the thinking goes. That’s the self-serving bias at work, and it can make us overconfident in life and finance. In fact, with the self-serving bias, we take credit where credit isn’t due. That can mean we overestimate our knowledge, and we don’t question our impulses enough. It can also mislead us into playing the blame game when things don’t go our way. With that, we never really learn from our missteps. So, what can we do to avoid all that? We can start with awareness. Recognizing our biases can help us spot them before we act on them. We can also question ourselves a little more. We can take some time to second guess our assumptions and think a little more critically about a situation and our options. And we can touch base with people we trust to get a second opinion and another perspective before we dive into the deep end of big financial decisions.

Bias can lead to worse $ outcomes. Here's why.

03/13/2026

Let’s do a little make-believe shopping. Say we’re looking to buy the latest tech gadget, and it’s $500 when we first price it out. A week later, we see it marked $750 at another store. What do you think when you see that second price? You’re probably thinking that gadget is more expensive and that $500 was a great deal. Now, what if I told you that two weeks ago, the gadget was just $350? Would $500 seem like a great deal now? It wouldn’t because we’re no longer fixated on that $500 price point. Instead, we’d “anchor” to that first price of $350 and we’d see $500 as more expensive.1 That’s just one way the anchoring bias can skew our perspective. It’s also not the only bias we can be vulnerable to when it’s time to spend, invest, or make other money moves.

See what biases can impair our financial futures.

03/06/2026

Would you say you know more about money than most? You would, if you’re like most investors. In fact, most people rate their financial knowledge higher than average. Yet… can’t pass a basic quiz on investing. That gap between what we think we know versus what we actually know shows the overconfidence bias at play. And that’s just one bias out of several that can muddy our perspective and misguide our financial choices. Bias can creep into our psyche with zero warning, and take on several different forms. Seriously limiting our abilities to make rational investing decisions. But that doesn’t have to happen—and won’t if you know how to spot these biases and stop them in their tracks.

If so, now's the time to flip the script.

02/27/2026

What do you think it would take to make better—or even perfect—financial decisions? More information or more time? Even with that, you can also use less to do more with your money. And that means less bias when it’s time to make key financial decisions. Our feelings, muddled memories, and even faulty reasoning can all nurture our biases. So can our fears and “intuition.” Still, with a little understanding of those biases, we can start to break free of them.

Find out how to spot & stop harmful patterns.

02/11/2026

Today we say goodbye (but not without a few tears) to someone who has been the heart of our office for the past 14 years.

From the very first phone call in the morning to the last detail at the end of the day, you have been the steady hand, the warm smile, and the calm voice that kept everything — and everyone — on track. Your dedication, loyalty, and incredible work ethic are appreciated more than any words can describe.

For 14 years, you didn’t just manage schedules, solve problems, and keep us organized — you built relationships, created consistency, and made this workplace feel like home. You’ve been the person we could count on no matter what, and that kind of reliability is rare and priceless.

While we’re excited for whatever this next chapter brings you, it’s impossible not to feel the weight of your absence already. You leave behind big shoes to fill and a legacy of professionalism, kindness, and grace.

Thank you for every early morning, every extra effort, every thoughtful reminder, and every moment you gave to this team. We are better because of you.

Wishing you all the success and happiness in the world — you will always be part of our story Christy. 💛