By Nanci Hellmich

Swedes have a term, döstädning or death cleaning, for the practice of decluttering late in life.

Death cleaning is about making decisions ahead of time—what to keep, what to toss, and what others will need to find quickly—so your heirs aren’t stuck with the burden of sorting things after you’re gone.

Digital death cleaning applies the same idea to the invisible stuff we accumulate on computers, phones, cameras, and the internet: everything from bank accounts, financial statements, and tax returns to passwords, emails, insurance policies, social media profiles, family photos and videos, music and movie libraries, and even wills and trusts.

A 2024 NordPass survey found the average person manages 168 personal passwords, and Apple reported in 2025 that the average iPhone user keeps almost 3,000 photos on their phone, plus more in cloud storage.

As you consider what you’ll leave behind, it’s important to organize, trim down, and make these digital assets accessible. This can help your heirs manage your affairs without spending weeks searching for what they need. “Digital preparedness is an important part of estate planning,” says Nick DeCenso, CAPTRUST senior director of wealth solutions.

CAPTRUST Financial Advisor Bri Smith agrees. “If you are grieving for someone, you don’t want to be dealing with the logistics of tracking down various accounts and passwords.”

Decluttering your digital life requires both time and effort, Smith says, but it’s worth the investment. “Digital clutter and documents build up gradually over time,” she says. “But they can usually be organized in a few focused sessions.”

Creating a Digital Road Map

Digital clutter can accumulate faster than physical clutter, and it can feel more intimidating to tackle, says Productivity and Organizing Consultant Julie Morgenstern, author of Shed Your Stuff, Change Your Life.

“I recommend you organize before you declutter,” Morgenstern says. “One efficient way to approach it is to create a digital road map on paper, which serves as a digital estate overview. The road map is a flashlight into your digital storage.”

Morgenstern says to start by asking yourself two questions. What would people need to find if something happened to me? And how can I give them an accessible guide on where to look?

“You want to give your heirs a simple guide that shows what they need to find, where to find it, and how to access it,” she says.

To do that, Morgenstern recommends compiling a one-page printed document that can serve as an inventory of your digital world. The document should include information about your password manager or password list, email and social media accounts, recurring subscriptions, photo libraries, online banking institutions, and any digital repositories that house important documents such as appraisals, wills, and trusts.

It should also list direct contact information for your financial advisors, attorneys, accountants, insurance agents, and any other trusted individuals with access to your passwords or who can help manage your estate. Keep this document in a safe place or with someone you trust, Morgenstern says.

Taking Out the Trash

Once you’ve created your digital road map, review each digital account in your inventory and remove any unnecessary or outdated items, Morgenstern says. For instance, you might want to discard your digital diary (if you don’t want anyone to read it), outdated documents, and folders of old emails, she says.

Smith agrees. She recommends reviewing your digital files thoroughly to identify which versions are up to date, which documents are worth keeping, and which can be removed. “This process can be time-consuming, so you should plan to tackle it gradually,” she says.

Reducing outdated or unnecessary documents clears the path for your heirs, making it easier for them to discern which documents and logins matter.

Managing Your Passwords

Passwords can pose a particular challenge. According to NordPass, the average American manages 168 individual logins. “People have passwords for their bank accounts, financial records, shopping and travel websites, subscriptions, and streaming services,” DeCenso says.

Some people hide their passwords in books, an office binder, or on sticky notes in a cabinet drawer, he says.

To simplify, others rely on password managers such as 1Password, Bitwarden, Dashlane, LastPass, or NordPass. These can be especially helpful in digital death cleaning. With a password manager, the executor of your will can gain access to all your accounts simply by knowing a single password, DeCenso says.

Morgenstern has seen the value of password management firsthand. Two of her friends shared their passwords with each other for access if one of them passed away. However, when the first friend died, the other was so overwhelmed by grief that he couldn’t remember the code he had memorized. Although he eventually recovered it, with help, the process would have been far easier if the information had been written down and stored securely, Morgenstern says.

Storing Important Documents

Document storage and organization is another critical component of death cleaning, DeCenso says.

People are increasingly choosing digital vaults to store their important documents. These are secure, centralized platforms, and there are many options available. For example, CAPTRUST clients have access to WealthView, an online portal that tracks bank accounts, investments, and lines of credit. It also provides a digital vault for essential documents such as wills and trusts, insurance policies, passports, and property deeds.

DeCenso says using a digital vault such as WealthView benefits people when they’re alive by making things easy to find and benefits their family after the person passes away. “It’s one of our best practices,” he says. “It’s a secure way to share documents with your financial advisor, and your heirs, so it’s a tool we strongly encourage our clients to use.”

Another tip: “If you have physical wills and trusts, you should digitize them and store them in a digital vault,” he says.

Smith adds that while some people prefer a physical estate-planning binder, she encourages them to store the information in a digital vault as well. “Consider it a backup in case the binder is lost or damaged,” she says.

Smith makes it a point to meet with her clients and their heirs or executors to ensure everyone knows exactly where digital information is stored.

DeCenso does too. “As financial advisors, we’re strong advocates for clients during this process,” he says. “We have experience guiding families through these situations, but also, it helps us sleep better when we know our clients are taken care of. They’re thinking about their digital lives as part of their legacy.”

Go Deeper

Many books offer strategies for decluttering, including:

About the Author

Nanci Hellmich, an award-winning multimedia reporter, covered myriad topics for USA TODAY for more than 30 years, and now she writes for AARP and other organizations. She’s been named a top online influencer on weight loss and nutrition and has appeared on numerous television shows, including NBC’s TODAY. Hellmich wrote for VESTED for more for more than a decade and is now defining her own retirement.

By Roxanne Bellamy

For many of us, muscle is associated with youth. It’s earned in gyms and slowly surrendered with age. But the truth is, muscle plays an important role, no matter how old you are. It helps you keep doing the things that make life feel like yours.

Maintaining muscle is less about aesthetics and more about independence: the ability to travel comfortably, lift luggage to the overhead bin, pick up your grandchild, recover from illness, carry your groceries, catch yourself from falling, and stand up from the floor, a chair, or the toilet without using your hands.

Think of muscle as a form of functional wealth. Like financial capital, it compounds with consistent investment, and, after age 50, the stakes rise.

The good news? Muscle remains surprisingly responsive—even later in life—when we give it the right signals. Those signals come from two places: resistance training and adequate protein intake. Together, they form a practical foundation for aging well.

Why Muscles Matters More with Age

Starting in our 30s, we gradually lose muscle mass, a process known as sarcopenia. Left unchecked, it can affect balance, posture, metabolic health, and overall resilience. At the same time, our bones become more fragile and need more skeletal muscle for support.

Sedentary habits quietly accelerate normal, age-related decline. Strength training slows that loss and can even reverse it. But, for many people, especially women, heavy resistance training feels unfamiliar and intimidating.

Maura Copsey, a CAPTRUST financial advisor in Greenville, South Carolina, was one of those people. She was healthy and active for most of her life, but a midlife bone-density scan revealed issues. “The reality is that, as we age, the tests start to reveal weaknesses in certain areas, no matter what we’re doing to stay active,” she says.

Copsey’s doctor gave her clear, direct advice. “She was very specific that I needed to be lifting weights—heavy, heavy weights. And I didn’t know how to do that at all.”

Many people get stuck in this moment, when good intentions collide with new physical realities. Knowing something matters isn’t the same as knowing how to begin.

Heavy Is Subjective

Copsey was fortunate to have an accountability partner. Her daughter, then in her late 20s, offered to start strength training with her. Together, they found a personal trainer at a community gym.

The routine wasn’t flashy: two days a week, 60 minutes per session, dumbbells, bodyweight exercises, and modified pull-ups. Progression was slow and individualized. “It’s not like, at age 60, you can go and start to lift heavy right away,” says Copsey. “It’s a journey. The goal is to lift heavy, but a lot of times, it’s really just asking what your body can do right now.”

Progress is more important than perfection. Remember the adage “Use it or lose it”? Strength training sends your body a clear signal that this tissue is still needed.

Copsey’s trainer, Brendan Kearns, says he likes to focus on movement patterns first, ensuring that clients have solid form before adding weight. “I want them to be brilliant at the basics,” he says. “As they get better at a movement, we’ll start layering more in. We might move from push-ups on the wall to push-ups on a counter before we ever head down to the floor.”

“The human body is designed to find efficiencies,” says Kearns. “That means, over time, you work your way into movement patterns that use as little muscle—do as little work—as possible. We have to teach the body new movement habits to make it work hard again.”

Confidence as a Side Effect

One of the biggest barriers to resistance training isn’t physical; it’s psychological. Many people worry they’ll get hurt, and weight rooms can feel unwelcoming, especially to beginners. Kearns calls this gymtimidation.

Copsey says she felt it at first, and she knew she needed a guide. “If I had walked in there by myself a year ago when I was starting my journey, there is no way I would have known what to do,” she says. Having her daughter as a partner helped, and, as she grew more familiar with the movements, her fear faded.

“It didn’t take that long, actually. After about a month, I realized it wasn’t going to be intimidating,” she says. “Brendan was reasonable, and he respected where we both were. I started having fun once I realized I wasn’t going to be judged for not doing enough.”

The American College of Sports Medicine recommends that adults, ages 18 through 65, perform at least 150 minutes of moderate-intensity exercise each week, or 60 minutes of vigorous exercise, plus two strength-training sessions that work all major muscle groups.

“That is the minimum effective dose,” says Kearns. “For people who are starting off pretty far from that benchmark, it’s a good idea to find a trainer who can set them up for success.”

Kearns recommends meeting with several personal trainers before making a commitment. Interview them, and choose someone you trust.

“Your first goal should just be to show up consistently,” he says. “It takes six weeks for your central nervous system to start changing. After four weeks, you’ll notice a difference in your body. In eight weeks, your friends and family will notice, too. In 12 weeks, everyone will see the benefits. Do whatever it takes not to give up before then.”

For Copsey, the benefits went beyond strength. “I’m stronger, but also I think my posture is better,” she says. “My lower back used to hurt, and I think it’s because I didn’t have great muscle strength. Now, I’m more aware of how I should sit, how I should hold myself, how I should lift things—and I have the muscles to do it.”

Copsey’s story spans three generations. Her 95-year-old mother also works with a trainer at her retirement community. “She doesn’t use a walker, and she lives independently,” says Copsey. “She would attribute a lot of that to her weight training.”

The weights she lifts may be light, but the impact is not. “Everything’s relative,” Copsey says. “What I’m lifting would be heavy for my mom, but my daughter is lifting heavier. You have to find what works for your body.”

Where Protein Fits In

Training is only half the equation. Muscle repair and growth require adequate protein, something many adults underestimate, especially as appetite declines with age.

As we age, our muscles become less sensitive to protein,” says Kearns. “We have to increase how much we’re consuming just to maintain the muscle we have.”

“The recommended dietary allowance is 1.2 to 1.6 grams of protein per kilogram of body weight,” says Kelly Murphy, a registered dietitian in Raleigh, North Carolina. “For people trying to lose weight, gain muscle, or do both, I recommend aiming for the high end of that range. The average person is eating way less protein than they need. If you aim for the high end, you’re more likely to get close to the target.”

Since most Americans aren’t familiar with kilograms, Murphy suggests a simpler daily guide of 1 gram per pound of body weight. A 150-pound person should aim for 150 grams a day. “Although this is higher than the standard recommendation, it helps with muscle development vs. just maintenance,” she says.

Instead of cramming most of your protein into one large meal or smoothie, eat smaller doses throughout the day. Higher doses activate your body’s muscle-building mechanisms.  Low protein often leads to higher hunger, lower muscle retention, and a slower metabolism.

“You should be getting 25 to 50 grams at every meal,” says Murphy. “Remember, protein isn’t only for muscles. You need it for your skin, hair, hormones, metabolism—everything. Your body will use protein more effectively if it’s processing it throughout the day.”

The High-Protein Trend

Right now, protein is having a moment far beyond the gym. Walk through a grocery store, and you’ll see it everywhere: protein-enhanced cereals, waffles, chips, bars, and even lattes boasting as much protein as a meal. This surge is no accident.

As Americans live longer—and spend more of those years managing weight, blood sugar, bone density, and energy—protein has become shorthand for strength, stability, and staying capable.

But not all protein is created equal. “The good thing about the protein trend is that it’s raising awareness,” says Murphy. “People are starting to count their grams. But you also have to pay attention to the quality of protein you’re eating.”

“Whole, unprocessed foods are best,” she adds. “Animal proteins are more easily digested than plant proteins, and they’re considered complete proteins because they contain all the necessary amino acids. Supplements, like powders and bars, can help fill gaps, but you shouldn’t rely on them.”

Most protein-enriched foods found in grocery stores are highly processed and high in carbohydrates. That can be less than ideal for people with blood sugar issues. “If you’re having protein pancakes for breakfast, maybe just consider having regular pancakes with a side of eggs instead,” says Murphy.

Common Pitfalls to Avoid

In conversations with trainers, a few patterns repeatedly arise:

Maintaining muscle means reinforcing the systems that support your daily life. To start, aim for two strength-training sessions per week, spread your protein intake across meals, and look for a trainer, weekly class, or program that prioritizes proper form. Don’t be embarrassed to admit you’re a beginner—most people are.

“Weightlifting is like investing,” says Murphy. “People are worried they’ll get hurt, so they never get started. But that’s like holding all your money outside the stock market because you’re too scared you might lose some of it. In the long run, you’re more likely to get hurt by not working out.”

About the Author

Roxanne Bellamy is a freelance writer and editor, specializing in outdoor adventure and sustainability. In her 20-year career, she’s written for many industries, including beer, textiles, and finance. Her retirement dream is to be a National Geographic Explorer.

By John Curry

There’s an old The Simpsons episode called “MoneyBart,” in which Marge confronts Homer about shirking his responsibilities again. Instead of reflecting or changing course, Homer shrugs off the warning with a now-classic line: “That’s a problem for Future Homer. Man, I don’t envy that guy.”

It’s absurd but painfully familiar. We all do it: the medical appointment, overdue insurance review, or difficult family conversation that keeps sliding to the next month.

Procrastination doesn’t usually show up as outright defiance. Instead, it’s quiet, polite, sometimes sneaky, and incredibly persistent.

The trouble is, while it may feel like a minor delay in the moment, procrastination has a compounding effect, especially when it comes to the big decisions that shape our financial lives.

Slipping Away

For high-net-worth individuals navigating retirement or other life transitions, procrastination rarely looks like Homer-level neglect. Instead, it shows up as indecision—open browser tabs, half-finished forms, or vague intentions to circle back.

But it can quietly shape outcomes in ways that become more difficult to reverse with time.

Delaying retirement savings early in life is one of the most measurable examples. Starting retirement contributions at age 25 vs. 35 can mean a difference of hundreds of thousands of dollars by age 65, even with the same total contributions, purely due to the extra decade of compounding.

This logic applies later in life as well, particularly when you postpone reallocating portfolios to align with new goals or delay planning for your retirement paycheck.

Putting off insurance decisions—life, disability, or long-term care—can result in higher premiums or limited options later, especially if a health condition arises.

“If you’re working, you need disability insurance,” says CAPTRUST Financial Advisor Megan Loftin in Raleigh, North Carolina. “Most people will have coverage through work, but it may not be sufficient for their needs. You don’t want to wait until you need it to find out if you have enough coverage.” Many employer-provided plans cover only 60 percent of base salary, which often isn’t enough for high earners.

Conversations about legacy are often emotionally charged, and therefore easy to postpone. Failure to act, whether that means updating wills, clarifying beneficiary designations, or having conversations with heirs, can leave a legacy of confusion instead of support.

“I have clients who needed estate documents,” says Loftin. “If something happened to either of them, it had the potential to become messy. Creating their documents was something they intended to do, but finding out that one of them needed major surgery is what finally got everything in motion.”

It’s not just about cost. It’s about peace of mind for yourself, and for those who may one day need to step in on your behalf.

None of these delays are unusual. But each carries more weight the longer it stays unresolved. To understand why these delays happen, it’s helpful to look at how people actually make decisions.

Time Is on My Side

Procrastination is not a character flaw. In fact, it’s often strongest in high-functioning people who are juggling complexity, managing other people’s expectations, and staying busy with what’s urgent.

“Home maintenance is a big area of procrastination for me,” says Loftin. “We’ve had a basketball hoop in our garage for a year, just waiting to be hung. I’d love to find a handyman and give them a list of things that need to be done—but I guess I’ve also procrastinated on finding that person.”

Beneath the surface, a few well-studied behavioral patterns help explain why even capable, well-resourced individuals put off important decisions.

Present bias, also known as hyperbolic discounting, pulls us toward immediate comfort and away from long-term benefits. The discomfort of sitting down to review a life insurance policy or initiate an estate planning conversation outweighs the distant satisfaction of having it done.

Then comes the planning fallacy, our tendency to underestimate how long tasks will take. We tell ourselves we’ll get to it next weekend, after the year ends, or when things settle down. We assume each task will be quick and straightforward, despite past evidence to the contrary.

Last, add in optimism bias, which is when we assume that when we finally do act, everything will go smoothly. No curveballs, no complications. It’s a hopeful illusion, one that often keeps us from starting at all.

Emotional Rescue

But cognitive bias isn’t the whole story. Our emotions shape our decisions just as powerfully as our reasoning.

Sometimes we avoid decisions not because we don’t care, but because the task feels emotionally heavy, abstract, or wide open. This is called task aversion, and it’s especially common with decisions that affect our family, identity, or future.

“The most important decisions can be the hardest to make,” says Loftin. “Fear, anxiety, and apprehension can all combine to basically paralyze someone trying to make an important decision.”

And finally, there’s energy. Mental fatigue can reduce our capacity for self-control and decision-making. When we’re depleted—after a long day, a tough meeting, or just too much noise—we default to what feels easiest in the moment: nothing.

Start Me Up

The opposite of procrastination isn’t hustle. It’s clarity. The more clearly we see the task and the more compassionately we relate to the part of ourselves that’s avoiding it, the easier it becomes to move.

Here are a few ways to bring mindfulness and momentum into the process.

None of these ideas are about working harder. They’re about working with the grain of human behavior, instead of against it. The goal isn’t to beat procrastination; it’s to move gently, deliberately, and often.

Break the Spell

Procrastination lives in the gap between intention and action. You don’t have to bridge that entire gap today. You just have to take the first step. Usually, it starts with a little self-honesty.

“Really think about why you’re delaying whatever it is,” says Loftin. “Is it an uncomfortable conversation, something you don’t feel educated on, or are you trying to do too many things at once?” 

Don’t look at the whole plan all at once. Just pick the one thing you’ve been avoiding. Maybe it’s emailing your advisor for a policy review, opening that estate planning folder, or scheduling a quick 20-minute check-in. Choose one thing, and do it this week.

Don’t leave it for Future You. Take one clear step today—even Future Homer would approve.

About the Author

CAPTRUST’s former chief marketing officer, John Curry is now constructing his own Second Act and adjusting to unretirement in Spain. In the finance industry since 1986, Curry was instrumental in the launch of VESTED magazine, serving as its original editor in chief.

By Emmie Brooks

Family financial conflicts don’t often begin with a bad decision. They begin with missing information. Money symbolizes different things to everyone—security, influence, comfort, responsibility—which makes it uniquely difficult to discuss plainly, even with the people you know best

Silence about money can feel protective. Parents may tell themselves, “We don’t want to create entitlement” or “It’s none of their business.” But a lack of communication can defer risk to the future through misunderstandings, hasty decisions during illness, or avoidable friction among siblings. For many families, silence becomes the default, not because it feels ideal, but because the consequences of speaking feel uncertain.

After decades of working with multigenerational families, Dr. Richard Orlando, a legacy enterprise consultant and coach at Legacy Capitals, has observed that parents often hesitate to share information out of concern about how it might shape their children’s choices, expectations, or sense of independence. But as Orlando reminds families, silence does not prevent consequences, it only delays them. “What you don’t want,” he says, “is for the next thing that speaks to your family to be your will or estate plan.”

For some families, particularly those with first-generation wealth, financial success is inseparable from sacrifice, work ethic, and identity.

“Families with first-generation wealth remember what it was like not to have the money they have now,” says Orlando. “Their loved ones have a very different starting point. Some couples have said to us, ‘How do we not lose our middle class? How do we avoid impacting our kid’s work ethic?’”

In that light, withholding information can feel like an act of stewardship rather than avoidance. John Keeton, a CAPTRUST financial advisor in San Antonio, Texas, suggests differently.

“If adult children are more aware of their potential financial picture, that awareness could guide and support them into making much bigger, life-changing decisions in pursuit of fulfilling a type of happiness,” says Keeton. “We need to reframe this as an opportunity, instead of a potential cost.”

Reframing the Conversation

Rather than asking whether families should talk about money, a more useful question may be how those conversations are framed.

“If a parent is hesitant to share too much, then don’t, but continue the conversation,” says Keeton. “Those conversations will build, and you’ll start to get more comfortable sharing.”

CAPTRUST Financial Advisor Mark Chamberlain adds that when families avoid discussing money, children do not stop forming opinions about it. They simply turn elsewhere. Chamberlain describes this as “learning horizontally.”

Social media, peers, and online narratives might fill the gaps, but they offer information without context, nuance, or family values attached. Without direction, those influences can shape expectations about wealth, success, and risk in ways parents never intended.

Another way families can reframe money conversations is by clearly distinguishing support from spoiling. Orlando often encourages parents to explain financial help not as a reward or entitlement, but as an investment tied to effort, values, and personal responsibility.

“With my own daughter, she realizes that her tuition is expensive,” says Orlando. “I say to her, ‘Fortunately we can pay for it, but Mom and I are investing into what you’re investing in: yourself. You have great grades, and you’ve earned your way in.’ So it’s not a spoiling message, it’s an investment into them.”

This type of framing is not a one-time explanation. It’s part of a longer process of communication that deepens as children mature. “Take the long-game approach,” says Keeton. “Have small conversations that build over time to where your kids can take the information and make decisions based on it.”

A Long-Game Approach to Family Readiness

Often, the moment that forces a money conversation isn’t a conflict; it’s a change. Orlando says he once worked with a family that experienced a major liquidity event after selling the operating business that had anchored their wealth for decades.

Almost overnight, the family shifted from running a company to managing complexity: investments, governance, estate structures, and shared philanthropy—along with the relationships those decisions would inevitably touch.

At the center of the transitions were two generations already involved in the family’s financial decision-making, alongside a much larger next generation: cousins ranging from mid-teens to adults, all of whom would eventually be beneficiaries and stewards in some form.

“The broad ask was helping them prepare the next generation for the responsibility they were going to have in perpetuating not just the assets, but the family’s legacy,” says Orlando.

Rather than begin with numbers, the family focused on building understanding. Over time, they introduced education through structured family retreats and small-group sessions designed to make the unfamiliar more accessible.

“We weren’t talking about dollars and cents,” Orlando says. “It was broad overviews—how the estate plan flows, how assets are allocated, and why the family invests the way it does.”

To reinforce the learning, the family involved younger members in philanthropy discussions and created committees that allowed them to observe governance in action. The impact became clear during one family meeting. A younger family member, who had openly admitted, early on, that the conversations felt like a foreign language, shared a simple observation: This was the first meeting I didn’t have to Google and look up words.

“Some were more interested than others, but everyone was gaining fluency,” says Orlando. “Not everyone needs to be equally savvy. What matters is confidence. They no longer needed a translator.”

Just as importantly, the process eased pressure on the older generations. “The grandparents and parents felt more confident too,” says Orlando. “They could see that the preparation was working. Even if someone never takes a formal role, they’re all going to be stewards.”

The family is still learning, but the direction is clear. “This doesn’t happen overnight,” Orlando says. “But when you embed these practices and rituals into the family culture, it becomes natural to continue. That’s when families start to say, ‘We’re on the right path.’”

Conversations that Grow with the Child

For children ages 4–10, money conversations can be simple and concrete. Allowances tied to basic choices—spend, save, give—introduce the idea that money reflects decisions. Storybooks, jars, and other age-appropriate tools help children connect effort, choice, and outcome without introducing anxiety or comparison.

“I suggest the Berenstain Bears books Trouble with Money or Dollars and Sense,” Orlando says. “Or get piggy banks that are divided up into save, invest, donate, and spend.”

As children mature and enter early adulthood, conversations can shift toward budgeting, earning, and trade-offs. Keeton, both a financial advisor and a parent, encourages families to start with children’s own financial lives, rather than pulling them into their parents’.

“Get them to understand their decisions and the consequences that could potentially result from those decisions,” Keeton says.

Early adulthood also provides an opportunity for the conversation to shift toward financial literacy. Orlando emphasizes how important understanding money concepts can be, beginning in young adulthood. “What does it mean to have a will? What’s a trustee? What’s a beneficiary? A generational giving trust? An annual exclusion gift? Give them the language,” he says.

As children reach college age, they are faced with important, independent years to grow and learn, not only in school but also about life. “They come out of their cocoon,” Orlando says.

“That stage is a great place to shift from fully taking care of their finances,” he adds. “Instead of giving the child an unlimited credit card, what about saying ‘Here’s your budget for the month, and here’s its purpose. If you spend it all, you’ll run out, and if you don’t spend it all, you have more for the next time.’”

When a Neutral Voice May Help

In some families, a third party can change the dynamic for the better. Advisors, facilitators, or family therapists can help translate values into structure and reduce emotional friction. “If it can be explained in a different way that isn’t mom and dad explaining it to a child, then the conversation may have a different impact on them,” says Chamberlain.

A neutral voice can normalize questions, clarify misunderstandings, and keep conversations focused on shared goals. But, as with most things, the right fit matters. Effective facilitation should feel collaborative, not hierarchical.

“It doesn’t matter how old the advisor is; there just needs to be a connection there,” says Keeton. “It shouldn’t be a disconnected, disjointed conversation where it feels like information being passed down. It should all be on one equal level. There should be pathways of communication between everyone sitting at the table.”

Key Takeaways

Ultimately, families don’t build financial readiness through perfect timing or complete certainty. They build it through conversations—imperfect, ongoing, and responsive to each stage of life.

Silence may feel easier in the short term, but it leaves too much to chance. When families choose to talk early and often, anchoring money discussions in values, context, and shared responsibility, they replace uncertainty with understanding.

Over time, those conversations do more than prepare the next generation to manage wealth; they prepare them to steward relationships, make informed choices, and carry the family’s legacy forward with confidence.

Three Principles for Healthy Money Conversations

Families that navigate money conversations well tend to follow a few shared principles, whether they realize it or not.

  1. Start with values, not numbers. “You don’t have to talk about your net worth or inheritance intentions. Get that off the table initially. That’s down the road. We’ll get there,” says Orlando. Instead, he encourages families to find their shared values and multigenerational mission. Consider the purpose of this legacy. “It doesn’t always make it easy, but it helps provide that North Star for the couple, for the children, and for the family to stay aligned.”
  2. Set ground rules. Before sharing information, families can benefit from agreeing on how conversations will work. Who is this conversation for? What is, and is not, on the table today? Is this about education, planning, or decision-making? “There are times when family conversations almost resemble a business meeting, which can cause some awkwardness because, generally, family conversations are more fun and relaxed,” says Keeton. “The question is, how can you overlay the family dynamic to make that a comfortable conversation for everyone to be involved in?”
  3. Use neutral, shared language. Chamberlain encourages parents to speak in a way others can easily understand. “It’s important for parents to learn how to speak the kids’ language,” he says. “Then, what is said means more. A conversation is only as effective as the response that it elicits.” If terminology or assumptions create confusion, communication can break down. The goal is not to impress but to be understood.

About the Author

Emmie Brooks is an editorial associate on the CAPTRUST marketing team. A North Carolina native, she earned her Bachelor of Arts in English from East Carolina University. Her writing has appeared in several local arts and culture publications, including Our State, WALTER, and EastBound Magazine.

By Jeanne Lee

Paul Sloop admits he thought movies were just another form of entertainment.

That is, until a friend dragged him along to watch a Swedish film about a boy who is sent to live with relatives when his mother becomes ill. Sloop had low expectations.

“I had always mocked subtitled films, making jokes about who wants to have to read when you go to the movies,” he says. But before the lights dimmed, a festival organizer got on stage to introduce the film to the audience. “I had never experienced someone speaking before a film, offering background about both the film and the filmmaker. It infused the experience with a special sense of gravitas.”

It was the 1980s. The film? My Life as a Dog.

It was the first feature film from director Lasse Hallström, who then was known mainly for ABBA music videos, and it moved Sloop deeply.

“I saw something more real in that film than I had ever experienced before,” Sloop says. His exhilaration at being one of its first viewers compounded when the movie earned an Oscar nomination. It soon became a much-beloved, international classic and a significant part of movie history.

Sloop has been hooked on festivals ever since.

“There’s a vibe and an energy that goes with a film festival that’s quite different than just going to the average cineplex,” he says. “Some of that is having the actors and filmmakers in attendance and experiencing Q&A sessions after the films, and often, getting to meet and speak to filmmakers directly. But it’s also the passion of the audience that gathers to celebrate the art of independent filmmaking.”

After his first festival, Sloop became a regular volunteer, then an organizer, and now serves as the director of programming for three festivals: the Cleveland International Film Festival in Ohio, Film Pittsburgh in Pennsylvania, and the Cordillera International Film Festival in Nevada.

The most prestigious festivals, like Sundance, Venice, and Cannes, evoke images of red carpets, celebrities, and extra-long standing ovations. But there are thousands of film festivals every year, and these magical experiences are not reserved only for entertainment industry insiders. Anyone can attend and share in the excitement of these multi-day debut celebrations for the some of the best movies of the year.

Plan a Movie Getaway

A film festival can be the backbone of a unique family vacation, since so many are in scenic locations. Imagine savoring a film—or two or three—each day with your favorite people, while relaxing in a mountain resort, a beach town, or a desert.

Take the Sedona International Film Festival as an example. “It’s in a beautiful part of Arizona and features an excellent program of films for a mainstream audience (not just film industry professionals), plus amazing live shows, Q&As, super fun parties, and an awards ceremony that everyone is welcome to attend,” says Dr. Rebekah Louisa Smith. A Texas-based consultant also known as The Film Festival Doctor, Smith helps creators get their films recognized and screened at festivals.

“You automatically feel like you’re there with family and friends,” she says. “And you make new friends while you’re there.”

Whether you prefer heartfelt dramas, independent comedies, documentaries, shorts, or any other genre, there is a festival for you.

Do you also enjoy wine? If so, the McMinnville Short Film Festival may be a good fit. “The town of McMinnville, Oregon, is charming, walkable, friendly, and gorgeous,” says Smith. “It’s also in wine country, offering many free wine samples and plenty of tasting opportunities. It’s the kind of festival that is so welcoming that, if

you attend once, you’ll want to come back every year.”

A great festival for the young at heart is the Mammoth Lakes Film Festival, described as “a summer camp with hot springs” by MovieMaker Magazine, a respected industry source.

MovieMaker also highlights the Martha’s Vineyard AA Film Festival and the Woods Hole Film Festival as vacation-worthy events. Both take place in beautiful settings.

Whichever festival suits your fancy, the common theme is the wonder and energy created when an enthusiastic audience comes together with the artists who made the film.

“When you put people together in a dark room with a big screen and allow them to share the full experience as a community, then discuss what they saw with the artists themselves, it elevates the power of the filmgoing experience,” says Sloop. “And it exponentially adds to the film’s ability to educate, entertain, inform, and inspire.”

What Ticket to Buy

Film festivals offer several tiers of entry, including single-day or weeklong passes, individual film tickets, and, usually, a rush line: a festival tradition that offers last-minute entry to otherwise sold-out shows.

To best experience the full buffet, choose an all-access pass. “This will ensure that you have access to sold-out screenings, avoid the stress of individual ticket booking, and secure priority seating,” says Smith. “Passes often also include exclusive access to panels, networking events, and VIP lounges, allowing for a deeper, more cost-effective immersion into the festival experience.”

Prefer to sample the festival à la carte?

“Using me as an example, I’d say buy a single ticket, attend a single screening, and you never know what might come of it!” says Sloop. “At a minimum, you’ll have a very different and impactful experience and, if the stars align, like they did for me, you might just find a new lifelong passion.”

Single tickets or multipacks offer convenience and flexibility with less time commitment.

For peak spontaneity, join the rush line. You’ll be part of a unique communal experience with other filmgoers who share your taste in actors and directors. With any luck, you’ll score a last-minute ticket and get to watch the movie with new friends you made in line.

Memberships and Donations

Interested in art-focused philanthropy? If so, take note of the many perks that come with donating to a film festival.

Members and donors get priority access to the best screenings, plus special chances to engage with film communities. For example, at Sundance, members at various levels can buy pre-sale tickets and choose screenings before the general public. At the Toronto International Film Festival, benefits for patrons include industry parties and film talks, while top-level donors are invited to attend its celebrity-laden opening and closing night galas.

About the Author

Jeanne Lee is a Cleveland, Ohio-area writer specializing in lifestyle, wellness, and personal finance. For VESTED, she writes about purposeful living, pursuing new passions, and giving back to the community. She also keeps an eye on emerging technology and what’s coming next. Her work has appeared in Fortune, Money, and USA TODAY, and on Health.com.

A: Your marital status on December 31 generally determines your tax filing status for the entire year.

If you are legally divorced or separated by the end of the year, you are typically considered unmarried for that tax year. In that case, your filing options may include single or, if you meet specific requirements, head of household.

If your divorce is not final by December 31, the IRS generally considers you married for that year, even if you lived apart. In that situation, you would usually file as married filing jointly or married filing separately.

These distinctions matter because filing status affects tax brackets, standard deductions, and eligibility for certain credits.

Divorce can also affect other areas of your tax return.

Because these rules can be complex—and because state tax laws may differ—it’s important to review your situation carefully.

Divorce doesn’t just change your personal life; it reshapes your financial and tax picture. Understanding how these changes affect your filing status and tax obligations can help you avoid surprises and support more informed planning decisions.

Before filing, consider consulting with your financial and tax advisors to ensure that your filing status and tax strategy align with your new circumstances. You might even consider looking for a financial advisor who has a Certified Divorce Financial Analysis® (CDFA®) credential. CDFA® professionals complete an intensive training program to hone their skills in providing expertise that’s directly related to the financial issues of divorce.

A: The phrase is intentionally provocative, but its message is straightforward: investor behavior often matters as much as, if not more than, investment selection.

The saying reflects research showing that frequent trading and reactive decision-making can hurt long-term results. Investors who buy and sell in response to headlines, short-term performance, or emotional discomfort may unintentionally undermine their own outcomes.

This tendency is often linked to action bias: the belief that doing something is better than doing nothing. In periods of uncertainty, inaction can feel irresponsible, even when it’s the more disciplined choice.

In investing, however, not every situation requires a response. Markets are volatile by nature. Prices move daily, sometimes dramatically, without any change in a long-term investor’s goals or financial needs.

In those moments, inaction can be intentional and productive. Staying invested allows time, diversification, and compounding to do their work.

That doesn’t mean investors should never act. The key distinction is why you’re acting. Decisions driven by thoughtful planning tend to be measured and purposeful. Decisions driven by fear, excitement, or boredom rarely are.

Quiet markets can be especially challenging. Without clear signals, investors may feel pressure to make changes simply to feel engaged. But those quieter periods are often when discipline matters most.

A well-defined financial plan provides a framework for knowing when to act, and when staying the course may be the wiser choice. A financial advisor can help put market movements in context and reduce the urge to react unnecessarily.

A: In many cases, the answer isn’t to rewrite the plan; it’s to make sure it was designed with uncertainty in mind.

Periods of uncertainty can make even the most disciplined investors uneasy. When the future feels unclear, it’s natural to wonder whether your financial plan needs to change. One way planners address this concern is through scenario planning.

Scenario planning doesn’t attempt to predict exactly what will happen. Instead, it prepares for a range of possible outcomes. Rather than relying on a single forecast, a financial plan can be tested against multiple scenarios—such as slower economic growth, higher inflation, or unexpected life events—to see how resilient it is.

This approach helps separate short-term noise from meaningful signals. Markets, interest rates, and economic conditions change frequently. Scenario planning allows you to ask: If this happens, does my plan still work? If the answer is yes, there may be no need to make changes.

A well-constructed plan often includes built-in flexibility, such as diversified investments, emergency reserves, and appropriate time horizons. These elements are designed to absorb uncertainty without requiring frequent adjustments.

The goal isn’t to eliminate uncertainty. That’s impossible. The goal is to build a plan that can function well across a range of outcomes.

If you’re unsure whether your current plan accounts for uncertainty, reviewing it with a financial advisor can help clarify where flexibility exists and where adjustments may be appropriate.

By Bill Kerig

About the Author: Bill Kerig is profiled in the Second Act story in our Spring 2026 VESTED magazine, Bill Kerig Won’t Stay Still.

Editor’s Note: Through his Traction Business Accelerator, Bill Kerig helps founders assess stagnant businesses, shift identity and strategy, and create promising futures. He says the steps he teaches his clients are the same for people looking to create their own second acts. Interested? Try the following exercise, straight from Bill.

The Setup: To start any journey, first you need to tell yourself a story about where you’re going and how you’ll get there.

For this exercise, imagine you are the lead character in an uplifting movie about the second act of your life (or third act, or fourth act, etc.). You’ve just watched the film festival premiere and now, you’re going to write the coverage, or synopsis, for a big studio that wants to make it a blockbuster. I’ll use myself and a current project to provide examples in italics.

  1. Who? Succinctly describe yourself. Lifelong entrepreneur Bill Kerig… That’s enough. Backstory is boring.
  2. Why change? What’s at stake? Write all the reasons you want to change, then edit them down to the most basic. … is afraid that if he stops challenging himself to create, he’ll shrink away from the world and die. (I know, a bit dramatic, but we’re setting up a drama here, so let your lizard brain bark.
  3. What does the character want to do? This is pretty straightforward. Here’s mine: Hoping to redefine what it means to age adventurously, Kerig wants to create a YouTube channel for long-form, film-quality stories about people absolutely crushing their own second acts.
  4. The problem with the plan is… Be honest about your weaknesses. But at 64, he’s ancient for a YouTuber, has never even uploaded a YouTube video, doesn’t have enough money to pay a team, and needs a distribution plan to find an audience.
  5. But our hero does have… Luke Skywalker had the Force. What do you have? Show us your assets. What Kerig does have is a network of experienced colleagues who know how to tell successful stories in film, TV, and print. He also knows how to run startup businesses.
  6. Who are your allies? A hero does best with three key helpers: a mentor, a coach, and a cheerleader. The mentor has accomplished something similar and will provide guidance from a remote vantage point. The coach has also done something similar but will get in the trenches with you and provide tactical, technical directions. The cheerleader will convey positivity, reminding the hero that they’re a hero after all. Guided by [insert mentor], he teams up with [insert coach] and enjoys the never-ending support of his wife of 25 years.
  7. When? Make it specific, not something vague like “as soon as everything feels comfortable.” He shoots, edits, and uploads the trailer for the first episode by July 1, 2026.
  8. How? This gives a high-level look at the grittiest details. For my scenario, that’s finding funding and distribution. Securing funding from [insert brand partner, investor, or lender], Kerig jump-starts distribution for the series by collaborating with [insert value-aligned brand or creator with a following].
  9. Great! Now bring it home. Share the hero’s successful outcome. While hosting and directing the show, Kerig builds a brand and finds a community of like-minded adventurous souls.

Copy and paste each of your answers, in order, to form a paragraph. Save it in your phone or tape a printout on your bathroom mirror.

To see how my story came together, head to youtube.com/@billkerig, where you should see my new “Older and Bolder” series about over-50 adventurers.

What Are Trump Accounts?

A Trump account (TA) is a type of retirement account intended to give children a head start on long-term saving. As a result, it shares some features with traditional IRAs, with several key differences that apply until the child reaches age 18.

When Does It Make Sense to Use a Trump Account?

Trump accounts are best suited for families who want to help their children begin saving for retirement at an early age. They may be especially compelling for parents of children born between 2025 and 2028, who are eligible for a one-time $1,000 federal contribution.  Families may find additional value when an employer contributes to a child’s account, which is a feature not typically available in other savings vehicles for minors.

However, if a parent’s goal is to save for education or to set aside funds that can be used at any time for any purpose, a TA may not be the most tax efficient option.

529 plan accounts remain the gold standard for education savings. Like TAs, contributions grow tax-deferred, but the similarities largely end there. Withdrawals from 529 plans are tax- and penalty-free when used for qualified education expenses. By contrast, TA assets cannot be accessed before age 18, and distributions are taxed as ordinary income on a pro-rata basis, with the 10 percent penalty waived if used for higher education expenses.

Traditional custodial accounts offer the greatest flexibility. Assets can be used at any time and for any purpose without penalty. Like TAs, they are managed by a parent or guardian until the child is 18 or age of majority. Beyond that, the differences are significant. TAs offer tax-deferred growth, while custodial accounts generally do not provide preferential tax treatment beyond the kiddie tax rules. Custodial account assets also become the child’s property at the age of majority, whereas TAs remain subject to retirement account rules.

Case Study: Trump Account with Roth Conversion and Custodial Account

Another advantage of Trump accounts is the ability to convert the balance to a Roth IRA after the child turns 18. The following example compares outcomes at age 18 and age 60, assuming a Roth conversion, with a traditional custodial account.

Assume Jane has had a TA since birth. She received the $1,000 contribution from the U.S. government, and her parents contributed the maximum $5,000 each year. Assuming an 8 percent rate of return, the balance in Jane’s TA at age 18 is $191,247, of which $90,000 represents contributions (basis) and the remainder is pre-tax growth.

If no further action is taken, the account balance grows to $4,846,100 by age 60, with only $90,000 of basis. Any withdrawals would be 1.8 percent non-taxable and 98.2 percent taxable at Jane’s ordinary income tax rate.

Assuming annual withdrawals of $200,000 to support retirement expenses, and accounting for both withdrawals and future required minimum distributions, Jane would pay more than $2.1 million in income taxes by age 90. Any remaining balance at her death would also be subject to income tax, which her heirs would owe as they distribute the account over a 10-year period.

Case Study Continued: Roth Conversion vs. Custodial Account

In same scenario, assume Jane converts the entire balance to a Roth IRA at age 18 and does not have other assets to pay the associated taxes. After accounting for ordinary income taxes and the 10 percent early withdrawal penalty, the Roth IRA would begin with a balance of $189,737 and grow to $4,807,837 by age 60. Her annual expenses of $200,000 would be covered with tax-free withdrawals from the Roth IRA. Any remaining balance would pass to her heirs free of income tax.

Now consider the same savings pattern from birth to age 18 in a custodial account. While there is no $1,000 government contribution, assume the same 8 percent rate of return. The account balance at age 18 would be $187,251 with a $90,000 cost basis. Jane can use these funds at any time and for any purpose, but in this example, she preserves the account for retirement.

Over time, the account may benefit from tax-loss harvesting and opportunities to increase the cost basis. By age 60, the balance grows to $4,744,843, and Jane begins withdrawing $200,000 per year. Withdrawals in excess of basis are taxed at long-term capital gains rates.  Even if the basis never increased, taxes would be lower than under ordinary income treatment, given the maximum long-term capital gains rate of 20 percent. At Jane’s death, any remaining assets would receive a step-up in basis, allowing her heirs to inherit the account with no embedded capital gains tax liability and the flexibility to invest as they choose.

It’s important to consider potential pitfalls. If the 18-year-old is still a dependent, the kiddie tax rules may still apply to amounts converted to a Roth IRA. In addition, if there are no other assets (such as cash or taxable accounts) available to cover taxes on the conversion, the individual would need to withdraw additional funds from the IRA, triggering both income taxes and the 10 percent penalty, to complete the conversion. In many cases, a more efficient approach is to use outside assets to pay the tax or delay conversion until age 59 ½, though this may result in conversion at a at a higher tax bracket.

Trump Accounts table with roth conversion scenarios

All values shown are hypothetical and assume an 8 percent annual rate of return for each scenario. Hypothetical performance has many inherent limitations. No representation is being made that any performance will or is likely to achieve the profits and losses similar to those shown. There are frequently sharp differences between hypothetical performance results and the actual results achieved by any particular investment strategy

Conclusion

As with all aspects of financial planning, understanding a client’s current circumstances and long-term goals is imperative. TAs are simply a new tool available to help families save for a child’s future. At minimum, opening an account to get the $1,000 federal contribution, if eligible, may be worth considering.

As illustrated above, when retirement savings is the primary objective, a TA—particularly when paired with a Roth IRA conversion—can be a compelling strategy. When integrated into a broader financial plan, TAs can complement custodial accounts and 529 plans, offering an additional pathway to long-term wealth building.

Source:

www.irs.gov/trumpaccounts

Resource by the CAPTRUST wealth planning team.