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Getting a raise is an exciting moment in your career and financial journey. Maybe you’ve gone through an executive-level position change and received a 10% pay bump or an internal promotion yielded you an additional 15%. Regardless of how you got your raise, you’re now in a unique position to move the needle on your long-term financial goals (and maybe splurge a little, too). But before you pull the trigger on that major purchase you’ve been eyeing, it’s important to have a long-term plan for the extra money in your paychecks. Even a significant raise can erode quickly if you suddenly upgrade your home, start vacationing like a celebrity, or snap up that Mercedes you’ve been eyeing. Below are our top five strategic wealth opportunities for you to consider the next time you receive a raise. First Things First: Understand Your New Numbers A 10% or 20% raise may sound like a huge boost, but not all that money will land in your bank account. Before making any financial moves, it’s important to calculate your new take-home increase after taxes and contributions. For example, if you receive a $25,000 raise on a $175,000 salary, you might expect $2,083 more per month. However, after accounting for federal taxes, state taxes, and other deductions, your actual monthly increase might be closer to $1,500. Knowing your actual take-home pay helps you set realistic expectations and make informed financial decisions. Getting a Raise: 5 New Strategic Wealth Opportunities For high-income earners, getting a raise isn’t just more spending power—it’s an opportunity to build lasting wealth while minimizing taxes. Instead of falling into lifestyle creep, consider these five wealth-building strategies to maximize your higher income. 1. Grow: Maximize Tax-Efficient Investment Opportunities With your increased income, you now have more opportunities to maximize tax-advantaged accounts and investment vehicles. For 2025, you can contribute up to $23,500 to your 401(k), plus an additional $7,500 if you're 50 or older. If you weren't maxing out your contributions before, your raise provides an excellent opportunity to reach these limits. Let's say you direct $750 of your new monthly take-home pay to your 401(k). You not only build retirement savings but could save approximately $2,160 in federal taxes annually if you're in the 24% tax bracket. Consider increasing your retirement and investment contributions by the same percentage as your raise. For example, if you receive a 10% raise, aim to increase your contributions by 10% of that raise. This incremental adjustment will help ensure you can maintain the lifestyle you're accustomed to when you retire. 2. Save: Optimize Tax Strategies to Reduce Liabilities A higher income often means entering new tax brackets, making tax efficiency more crucial than ever. Without proper planning, you might find a significant portion of your raise going to Uncle Sam instead of building wealth. Consider switching to a high-deductible health plan (HDHP) for your family, which can lower your premiums while giving you access to a Health Savings Account (HSA). In 2025, you can contribute up to $8,550 for family coverage , potentially saving around $2,000 annually in taxes. Additionally, the money in your HSA grows tax-free and can be withdrawn for qualified medical expenses without tax liability. 3. Diversify: Explore Alternative Investments A higher income can open the door to new investment opportunities, allowing you to diversify beyond traditional stocks and bonds. Alternative investments like real estate investment trusts (REITs) can provide exposure to different asset classes, potentially offering both passive income and long-term appreciation. These types of investments often move independently of the stock market, helping to balance overall portfolio risk. They can also offer lower barriers to entry compared to direct property ownership or other traditional alternatives. The key is to align your investments with your risk tolerance and liquidity needs while taking advantage of opportunities that complement your existing strategy. 4. Strengthen: Build Your Estate With more income comes greater potential for building generational wealth. Investing half of your $25,000 raise annually for 20 years with a 7% return could add over $500,000 to your estate. This makes it essential to have proper structures in place for efficient wealth transfer. To ensure your wealth transfers efficiently, consider: Trusts to protect assets and minimize estate taxes Life insurance strategies for wealth preservation Family-limited partnerships for multi-generational wealth planning These structures become increasingly valuable as your wealth grows. 5. Impact: Upgrade Your Philanthropy & Social Impact There's something powerful about reaching a place in life where you can give back meaningfully. Beyond the personal satisfaction of a higher income, this new chapter brings an opportunity to create lasting positive change in your community and the causes closest to your heart. Maybe you still remember the community college professor who believed in you when you weren't sure about your path. Now, twenty years later, by creating a donor-advised fund (DAF) to support student scholarships, you're not just making education more accessible—you're giving another student their own life-changing mentor. By thoughtfully structuring your charitable giving through vehicles like DAFs or qualified charitable distributions from retirement accounts, you can maximize both the impact of your generosity and the tax benefits that come with it. After all, effective philanthropy isn't just about giving money away—it's about creating meaningful change in the ways that matter most to you. Red Flags: Top Signs of Lifestyle Creep While getting a $25,000 raise provides excellent opportunities for wealth building, it's important to avoid (too much) lifestyle creep. That upgraded car lease might cost an extra $200 monthly, the bigger house another $800 in mortgage payments, and the premium credit card's annual vacation package another $400 monthly in travel costs. Before you know it, your entire raise can get absorbed by new expenses. While there's nothing wrong with enjoying the fruits of your hard work, the key is being intentional about which lifestyle upgrades truly matter to you. Here are some common warning signs that lifestyle creep might be eroding your raise: Your monthly expenses rise automatically with your income You upgrade multiple lifestyle aspects at once (housing, car, travel, dining) Your savings rate remains unchanged despite higher earnings Luxury spending becomes your new normal Your cash reserves aren’t growing despite a higher paycheck Instead of automatically increasing spending across the board, take time to identify the one or two changes that would bring the most joy and fulfillment to your life. Then, invest the rest. Put Your New Money to Work with Five Pine Wealth While these strategies focus on wealth building, don't forget to invest in yourself through continued education, health, and meaningful experiences. The key is finding the right balance between growing your wealth and enjoying the fruits of your success. Whether you've recently received a raise or are anticipating one soon, having a plan in place can help you maximize this opportunity. Our team can help you evaluate which of these strategies would work best for your unique situation and create a customized plan to help you reach your financial goals. At Five Pine Wealth Management , we can help you implement these strategies in a way that aligns with your personal goals and values. To learn more about making the most of your increased income, schedule a meeting with us. Email us at info@fivepinewealth.com or call us at 877.333.1015.  Let's work together to transform your raise into lasting wealth.

Retirement is a time meant to savor your successes from years of hard work, when you can focus on filling your bucket with meaningful experiences – travel, hobbies, volunteering, and spending time with loved ones. You want to live your retirement life to the fullest, and having a financial plan in place can allow you to enjoy financial security well into your golden years. Whether you’re nearing retirement or decades away, a financial plan can act as a roadmap to help you prepare for the expenses you’ll have in retirement. One of the biggest expenses retirees may face is medical expenses. According to an annual study on the average cost of healthcare in retirement, a 65-year-old who retired in 2023 can expect to spend an average of $157,500 on health and medical expenses throughout retirement. A couple can expect to spend $315,000 on healthcare costs throughout their retirement. This cost becomes even greater for younger generations who aren’t retired yet – with rising healthcare costs and the impact of inflation, a couple in their mid-forties now may see their lifetime retirement healthcare costs grow by over $250,000, for a projected total of more than $1.7 million. That couple would likely spend more on their retirement healthcare costs than the total Social Security benefits they would receive. While these future healthcare costs may seem daunting, they’ll vary based on when and where you retire, how healthy you are, and how long you’ll live. Also, these costs won’t be paid as a lump sum all at once, so you can plan for them as an ongoing expense in your retirement budget. With strategic financial planning, you can be better prepared for the uncertainties of your future healthcare expenses and help ensure a more secure and resilient foundation in your retirement years. Estimating the Average Cost of Healthcare in Retirement As part of your planning, estimate your average healthcare costs when you’re retired so that you can have a general idea of what you can expect to spend. Analyze your current healthcare expenses, including your insurance premiums, routine medical care, ongoing care for health conditions, prescription medications, and out-of-pocket costs. Seeing how much you currently spend on healthcare can provide a baseline for understanding your future needs. Make sure to account for inflation and continued rising healthcare costs so that you have a more realistic projection of your future expenses. Looking ahead allows you to adjust your financial plan so that you can meet these potential increases. Strategies to Manage Healthcare Costs in Retirement How can you prepare for healthcare costs in retirement? In addition to using your retirement savings to pay for medical expenses, there are a few things you can do both before and after retirement to manage these costs. Live a Healthy Lifestyle Living a healthy lifestyle isn’t limited to just your retirement years, as prioritizing your health and well-being throughout your lifetime brings immeasurable benefits to you and your loved ones. Embracing a healthy lifestyle also contributes to your long-term financial well-being: being proactive about preventative care and committing to wellness can reduce the frequency of medical care and associated expenses. Health Savings Accounts (HSAs) While you’re still in your working years, consider contributing to a Health Savings Account (HSA) if your employer offers a HSA-eligible health plan. HSAs offer a convenient, tax-efficient way to save for healthcare costs in retirement. You contribute to your HSA with pre-tax dollars through payroll deductions, and those contributions grow tax-free in your account. You can withdraw money, also tax-free, when used to pay for qualified medical expenses, both while working and in retirement. You can also use HSA money for non-medical expenses after the age of 65 without any penalties (be aware, though, that you’ll be responsible for paying taxes on your non-qualified withdrawals). HSAs are a valuable tool in planning for your healthcare costs in retirement, providing a dedicated vehicle to save for healthcare expenses. Medicare and Medigap Insurance The Medicare tax is a payroll tax that’s used to support healthcare costs for retirees and is paid by both employees and employers in the US. The current tax rate for Medicare is 1.45% each for the employee and employer (2.9% total). If you earn over $200,000 annually, you’ll be subject to an additional Medicare tax of 0.9%. You’re eligible for Medicare at age 65, so consider familiarizing yourself and reviewing the different Medicare options before you become a beneficiary. Medicare has several elements: Part A, Part B, and Part D, as well as Medicare Advantage and Medigap. ● Medicare Part A covers inpatient care in hospitals and skilled nursing facilities after you meet a deductible (the deductible amount for 2024 is $1,632). You’ll be responsible for daily coinsurance after a certain length of time as an inpatient. ● Medicare Part B is optional coverage for services not covered by Part A, including physicians’ services, outpatient hospital services, and durable medical equipment. Part B requires a monthly premium, which is determined by your income, as well as deductibles and coinsurance you’ll be responsible for. ● Medicare Part D covers prescription drugs and also requires a monthly premium determined by income. ● Medicare Advantage plans are managed care plans that cover services under Part A and Part B and may cover additional services, including prescription drug coverage. ● Medigap policies are supplemental policies offered by private insurance companies to cover the “gaps” in Medicare. Medigap policies provide additional coverage for deductibles, coinsurance, and other expenses. Long-Term Care Insurance Medicare doesn’t cover long-term care, so you can consider purchasing long-term care insurance. Long-term care insurance policies offer protection against the significant financial impact of extended care needs, as prolonged medical care can be particularly costly. Having long-term care insurance (or a long-term care insurance rider added to your life insurance policy) can not only help you plan for healthcare costs, but help preserve your retirement savings as well. Planning for the Impact of Healthcare Costs  Healthcare costs can have a significant impact on your financial security during retirement. It’s important to account for these costs in your financial and retirement planning, so that you can align your financial goals with your future healthcare costs. At Five Pine Wealth Management, we’ll work with you to develop a comprehensive financial plan and retirement strategy to address your present and future financial needs, including health and medical care. As fiduciary financial advisors, we are legally bound to act in your best interest as we help you navigate the complexities of financial and retirement planning. We’ll work together with you to create a holistic, comprehensive plan that meets your unique needs and objectives. To see how we can help you grow and preserve your wealth well into retirement, email us or give us a call at: 877.333.1015.

Meet Sarah and Tom, both successful professionals in their mid-50s. Like many of our clients, they're wrestling with a common retirement planning question: should they pay off their mortgage before retirement? With $200,000 left on their home loan, they love the idea of entering retirement debt-free but wonder if their money could be better used elsewhere. This scenario plays out in countless pre-retirement conversations, and the answer isn't always straightforward. According to the Federal Reserve’s Survey of Consumer Finances, approximately 38% of homeowners aged 65-74 still carry mortgage debt, a significant increase from previous generations. This trend reflects changing attitudes toward retirement debt and more complex financial considerations in today’s economy. So, let's explore the various factors to consider when making this important financial decision. Why More People Are Considering to Pay Off Their Mortgage Before Retirement The decision to pay off your mortgage before retirement is deeply personal, influenced by both financial and emotional factors. Let's explore the various pros and cons of paying off a mortgage that can help guide your decision-making process. The Pros of Paying Off Your Mortgage Before Retirement Reduced Monthly Expenses : According to the Federal Reserve , homeowners' median monthly mortgage payment was $1,500 in 2023. Reducing or eliminating this cost can significantly impact your financial freedom during retirement. Guaranteed Return on Investment : Paying off your mortgage provides a guaranteed return equal to your interest rate. If you’re paying 6% interest, eliminating that debt is like earning a risk-free 6% return which can be attractive when markets are volatile. Tax-Efficient Withdrawal Strategy : With the standard deduction now at $30,000 for married couples (2025), many retirees don’t itemize deductions anyway, making the mortgage interest deduction less valuable than in previous years. Peace of Mind : An immeasurable sense of security comes with owning your home outright. Some clients report sleeping better at night, knowing they'll always have a roof over their heads, regardless of market conditions. Cons of Paying Off Your Mortgage Before Retirement Tying up Liquidity : A paid-off house is great, but you can’t buy groceries with bricks. If you drain off your savings to pay off your mortgage, you might find yourself “house rich, cash poor.” Emergencies could force you to dip into retirement accounts at inopportune times. Opportunity Cost : Using a large sum of money to pay off your mortgage means those funds aren't available for investment. Historically, the S&P 500 has returned an average of about 10% annually over the long term, potentially outperforming the interest saved on many mortgages. Impact on Retirement Savings : If paying off your mortgage requires withdrawing from tax-advantaged accounts like a 401(k) or IRA, you may trigger capital gains or incur higher taxes due to increased income in the withdrawal year. Inflation Benefit : Over time, inflation erodes the real value of debt. That fixed mortgage payment becomes easier to manage as your income and the cost of living rise (assuming your income adjusts accordingly). Paying it off early eliminates this potential advantage. Diversification : Keeping a mortgage while maintaining a robust investment portfolio might provide better risk management through diversification. Emotional Considerations For many, the decision is as emotional as it is financial. Some retirees sleep better knowing they own their home outright. Others find comfort in having a robust investment portfolio and a manageable mortgage. Owning a home outright often provides a deep sense of security. It represents stability, independence, and the comfort of knowing you have a place to live without the worry of monthly payments. This emotional relief can significantly reduce stress, especially during market downturns or economic uncertainty. The idea of having a fully paid-off home can also foster a sense of accomplishment—a tangible reward for years of hard work and financial discipline. On the other hand, maintaining a mortgage while having substantial liquid assets can provide a different kind of emotional security. Knowing you have cash readily available to cover emergencies, opportunities, or unexpected expenses can create a strong sense of financial freedom. It allows for flexibility in decision-making without the pressure of having all your wealth tied up in a single asset. Ultimately, the emotional factor is deeply personal. It’s about identifying what gives you peace of mind—whether that's seeing a zero balance on your mortgage statement or knowing you have a healthy, diversified investment portfolio that offers both growth potential and accessibility. Key Questions to Ask Yourself What is my current cash flow? Can I comfortably afford my monthly payments alongside other expenses? Do I have enough liquid savings for emergencies? Aim for at least 6-12 months’ worth of expenses. How will paying off my mortgage impact my taxes? Consult with a financial adviser to understand potential changes. Does debt cause me stress? If the emotional burden outweighs potential financial gains, paying it off could be the right move. What’s my retirement income plan? Will eliminating your mortgage reduce the need for withdrawals from tax-advantaged accounts? A Balanced Approach: Partial Payoff The right choice often lies in finding a middle ground. Consider a middle-ground approach if you're torn between paying off your mortgage completely or keeping it into retirement. You might want to consider one of these options: Make extra mortgage payments to reduce the principal but maintain investment contributions. Pay off a portion of the mortgage to lower monthly payments while keeping some assets liquid. Refinance to a shorter term if rates are favorable to accelerate payoff while maintaining investments. Let's return to Sarah and Tom's story. After carefully weighing their options, they chose a hybrid approach. They decided to use a portion of their savings to pay down half of their mortgage principal, reducing their monthly payments significantly. This approach allowed them to maintain a healthy investment portfolio while decreasing their monthly expenses in retirement. The decision gave them the best of both worlds—they kept their investment strategy intact while gaining more monthly flexibility and peace of mind. Today, they're confidently moving forward with their retirement plans, knowing they've struck the right balance for their unique situation. Everyone’s situation is different, but Sarah and Tom's story shows you can find the right balance between financial security and optimization of your resources to create an ideal solution for your retirement journey. Making Your Decision: Should You Pay Off Your Mortgage Before Retirement? The bottom line is there’s no one-size-fits-all answer. What works for one person might not be the best choice for another. It depends on your financial picture, risk tolerance, and emotional comfort. If you're wrestling with this decision, we're here to help you look at the comprehensive picture. At Five Pine Wealth Management , we can help you evaluate how paying off your mortgage before retirement fits into your broader investment strategy. Would your retirement feel more carefree with a paid-off home? Or would the funds be better off in a low-cost, diversified investment? Together, we can analyze both the emotional aspects and the financial impacts of this decision. Let’s sit down, run the numbers, and find the best path for you. Call 877-333-1015 or email us at info@fivepinewealth.com to schedule a meeting today! Your retirement peace of mind is our priority. Let's work together to ensure your mortgage strategy supports the retirement lifestyle you've worked so hard to achieve.

Investing can often feel like a rollercoaster—markets climb, markets dip, and we’re all left wondering what’s next. With all the ups and downs, it can be hard not to give in to the urge to act: buy when things are up and promising, sell when things start to go down and look troubling. Is this really the best approach, though? Trying to time the market versus spending time in the market is a debate every investor faces at some point. While it can be tempting to jump in and out of investments to maximize your returns, long-term investing has historically been the better option. Investing for the long term can help you build lasting wealth that stands the test of time, regardless of market fluctuations. Timing the Market Market timing is a financial strategy of buying and selling investments based on short-term market movements. When you try to time the market, you make decisions based on economic forecasts, news events, and market indicators in an attempt to profit from fluctuations. It can be easy to fall into the trap of trying to time the market. It’s hard not to panic and sell when markets start to drop (you want to avoid further losses!). On the other hand, when the market is soaring, it’s tempting to chase the stocks that have been performing well, hoping the gains will continue. Buy when prices are low and sell when they’re high or hit their peak—it sounds like a strong investment strategy. The idea of timing the market can be appealing, as it allows you to maximize your gains and minimize your losses (in theory). The reality of market timing, however, isn’t as appealing—it's incredibly difficult to do correctly and consistently. Market cycles are, by nature, unpredictable. Even seasoned analysts who make predictions based on advanced data modeling and years of experience are rarely successful at perfectly timing the market over the long run. While in the short term, you might get timing the market right occasionally, the odds of consistently making the right moves over the long term aren’t in your favor, and you can miss out on key opportunities to grow your wealth. Time in the Market Time in the market is the practice of remaining invested in the markets over the long term, regardless of short-term fluctuations or price swings. Instead of worrying about the day-to-day volatility of stocks and trying to predict highs and lows, you focus instead on letting your money grow over time. Long-term investing requires patience, but history shows that if you stay invested through market ups and downs, you’re more likely to come out ahead. Markets have historically trended upward over time, and the longer you stay in the market, the greater your opportunity to benefit from compounded returns, which can turn even modest investments into substantial wealth over the long term. Compound growth is one of the most effective wealth-building tools in investing: instead of withdrawing your earnings each year, you leave them invested so they can generate returns of their own. With the compounding effect, your investment can grow exponentially and far surpass the returns you would have had if you had jumped in and out of the market. Before we get into a practical example, let’s get this disclaimer out of the way: market returns are not guaranteed and past performance doesn’t predict future results . Say you invest $10,000 in a fund with an average annual return of 7%. Here’s how compound growth would work over time: Year 1: You earn 7% on $10,000, which equals $10,700. Year 2: You earn 7% on $10,700, which equals $11,449. Year 3: You earn 7% on $11,449, which equals $12,250. By Year 30, your investment could grow to approximately $76,123 , assuming a consistent 7% annual return. In contrast, if you had taken out your earnings every year instead of leaving them invested, after 30 years your investment would be worth $31,000 . This figure includes your initial $10,000 plus $21,000 in simple interest ($700 per year for 30 years). The power of time in the market and staying invested over the long term allows your money to work for you, building wealth over time. The Risks of Timing the Market Trying to time the market can significantly impact the long-term performance of your investment portfolio in several ways and often introduces more risk than reward. Missing the Market’s Best Days Market recoveries often happen quickly and, historically, some of the stock market’s biggest gains occur within days or weeks of its steepest declines. If you exit the market during a downturn and fail to re-enter at the right time, you can potentially miss out on the crucial rebound period. Studies have shown that missing even just 10 of the market’s best days over a few decades can significantly reduce your overall returns. It’s not about when you invest, but how long you stay invested. One study found that staying fully invested over a 20-year period yielded an average annual return of 9.8%, whereas missing the 10 best days reduced the return to 5.6%. Notably, many of these best days occurred shortly after the worst days, highlighting the difficulty of timing the market effectively. Emotional Investing Can Lead to Poor Decisions Fear and greed are two of the most common challenges you can face as an investor. When markets decline, fear causes many investors to sell—locking in losses instead of riding out the volatility. And when markets soar, greed can drive investors to buy at inflated prices, leading to poor entry points in the market. This cycle of emotional decision-making and trying to time the market can lead to your investments underperforming, preventing you from reaching your long-term financial goals. You Have to Be Right Twice Timing the market can require being right twice: even if you correctly predict when to sell before a downturn, you still have to predict when to buy back and re-enter the market. This is extremely difficult to do perfectly, every time. Investors who sell out of fear might wait too long to get back into the market, often missing the rebound and then buying back at a higher price. This common misstep can erase any perceived advantage or gains from market timing. Long-Term Investing for Long-Term Success  Successful investing isn’t about avoiding downturns; it’s about staying invested long enough to benefit from the market's long-term growth. Every bear market has eventually given way to recovery, and these historical trends favor long-term investors, where patience often leads to rewards. Market fluctuations are temporary, but your financial objectives—retirement, wealth building, and wealth preservation—are long-term. A disciplined and strategic approach allows you to weather short-term volatility while keeping your focus on achieving your goals. Instead of reacting to short-term noise, invest for long-term success. At Five Pine Wealth Management, we’ll work with you to build a portfolio that aligns with your financial goals, risk tolerance, and objectives. Together, we’ll develop a strategy that withstands market fluctuations and positions you for steady growth and resilience over time. As fiduciary financial advisors, we have your best interest at the forefront of everything we do, providing personalized guidance that prioritizes your financial well-being and helps you achieve your goals with confidence. To see how we can help you invest for long-term success, email us or give us a call at: 877.333.1015.

Somewhere in adulthood, the old question of “What do you want to be when you grow up?” morphs into “ What do you want to do when you retire?” Some people dream about their retirement for decades, while others barely give it a thought. Either way, by the time you reach your 50s, you’ll benefit from building a retirement plan that doesn’t force you to sacrifice all of life’s joys today. Retirement planning in your 50s is less about radical changes and more about making intelligent, intentional decisions. Let’s dive in. By your 50s, you’ve likely hit your peak earning years. That’s the good news. The not-so-great news? The clock is ticking on the years left to build your nest egg. Don’t panic. With a strategic approach, you can set yourself up for a secure retirement without feeling like you’re putting life on pause. Your 50s are also a time to reassess priorities. Kids might be leaving the house (goodbye, endless grocery bills!), and you might have more flexibility in allocating your income. This decade is the perfect opportunity to course-correct and make up for any lost time. 4 Retirement Savings Strategies for Your 50s This decade is the perfect time to implement strategies that will help you coast right into your golden years. 1. Max Out Retirement Accounts The IRS gives a little extra love to folks 50 and over in the form of catch-up contributions. For 2024, you can contribute up to $30,500 to your 401(k) ($23,000 plus a $7,500 catch-up contribution). Don’t have a 401(k)? No problem. With an IRA, you can add an extra $1,000 to the usual $7000 contribution limit. These boosts may seem small, but they add up fast, especially with compounding returns working their magic. 2. Automate Your Savings Automating contributions ensures you’re consistently saving without even thinking about it. Set up direct deposits into your retirement accounts so saving becomes as effortless as your morning coffee routine. If you get a raise, consider earmarking most of it for your savings—future you will thank you. 3. Diversify Investments By now, you’ve likely heard that “diversification” is key, but what does it mean for you? In your 50s, you’re likely transitioning from a more aggressive portfolio to a slightly more conservative one. That doesn’t mean selling all your stocks and parking your money in bonds, but rather finding a balance that aligns with your risk tolerance and timeline. 4. Pay Down High-Interest Debt Interest rates on credit cards or other high-interest loans can drain funds that could otherwise be growing in retirement accounts. Paying these off first will free up cash flow for savings. Catching Up on Retirement Savings If you’re behind on retirement savings, don’t stress. There are plenty of ways to catch up while still enjoying life today: Reevaluate Your Budget : Start by taking a close look at where your money is going. Are there subscriptions you’ve forgotten about? Could dining out be scaled back slightly? You don’t have to eliminate all your “wants”—just trim the fat. Even reallocating $200 a month can lead to significant savings over time. Downsize Strategically : Empty nesters, this one’s for you. If your current home has more space than you need, downsizing could free up substantial equity for retirement savings. Smaller homes also mean lower utility bills, maintenance costs, and property taxes. Leverage Catch-Up Contributions : As mentioned earlier, these higher contribution limits for people over 50 are a game-changer. Pair this with any employer-matching contributions, and you’ve got a recipe for rapid savings growth. Delay Social Security : While Social Security might feel like a safety net, waiting to claim it can significantly increase your benefits. Your benefits grow every year you delay claiming beyond your full retirement age (up to 70). If you can, let those checks wait while your investments continue to work. Explore Additional Income Streams : Retirement doesn’t have to mean quitting work entirely. Many people in their 50s find side hustles or part-time work that aligns with their interests. Whether it’s consulting, teaching, or turning a hobby into income, these earnings can supplement savings without feeling like a burden. Balancing Retirement Planning with Enjoying Today Now for the part everyone cares about: How do you plan for tomorrow without ruining today? Here’s how to strike the balance: Set Clear Goals What does retirement look like for you? Is it traveling the world, spending more time with family, or pursuing hobbies you love? Knowing your “why” helps make the sacrifices feel worthwhile. It also gives you a clearer target to aim for. Embrace Experiences Over Things Research shows that spending on experiences—like vacations, concerts, or classes—provides longer-lasting happiness than material goods. Plus, experiences don’t have to break the bank. Look for ways to create memories without overspending. Plan for Mini-Retirements Who says you have to wait until you’re 65 to enjoy some of that freedom? Consider taking shorter breaks or extended vacations now to recharge and enjoy life. With careful planning, these “mini-retirements” won’t derail your long-term goals. Prioritize Health One of the best investments you can make in your future is in your health. Regular exercise, a balanced diet, and preventive healthcare can reduce medical expenses down the road and ensure you can fully enjoy your retirement. Celebrate Small Wins Saving for retirement is a marathon, not a sprint. Celebrate progress along the way—whether it’s maxing out your 401(k) for the first time or finally paying off that lingering debt. 3 Practical Action Steps to Get Started Calculate Your Retirement Needs : Estimate how much you’ll need to maintain your desired lifestyle. Don’t forget to factor in healthcare costs, home maintenance, inflation, and leisure activities. Review Insurance Coverage : Make sure you’re adequately covered with health, life, and long-term care insurance. These policies can protect your savings from unexpected expenses. Adjust Your Asset Allocation : As you approach retirement, consider shifting some of your investments into more stable options. This will minimize the risk of major losses as you approach the time when you will need the money. How Five Pine Wealth Management Can Help We can help you create a tailored plan, taking into account your current savings, goals, and timeline. With our experience, we can advise you on maximizing tax-advantaged accounts and minimizing unnecessary risks. Preparing for retirement in your 50s doesn’t mean sacrificing today’s joys. With thoughtful planning, strategic savings, and a focus on balance, you can enjoy the present while setting yourself up for a comfortable future. Start today, by scheduling a meeting with us. Email info@fivepinewealth.com or call us at: 877.333.1015 to take it one step at a time, and remember: It’s never too late to build the retirement you deserve.

In today's fast-paced and tech-driven world, convenience is a hot commodity. Businesses across industries have had to pivot to meet the demands of consumers who crave efficiency and ease. Think about how brick-and-mortar retailers have transformed into online shopping havens with a greatly increased selection of products, the ease of shopping at all hours from home, or how delivery services have boomed as an effortless solution to mealtime dilemmas, to name a few. If businesses don't prioritize easy accessibility and simplicity, many risk losing consumers. The finance industry is no exception — in fact, it's a prime example of an industry constantly innovating to simplify highly sought-after services like investing. Case in point? Robo-advisors. What Is a Robo-Advisor? If you're unfamiliar with the term, you could likely guess its meaning from the name alone. More officially, it refers to a software application that provides automated, algorithm-driven investment management with minimal human intervention. These platforms leverage technology to streamline and optimize the investment process. They typically offer a curated selection of investment options tailored to an investor's goals, risk tolerance, and time horizon. An automated solution for building wealth? Sounds promising! But while it might seem like an all-good, no-bad, very-welcomed shift in the industry, it's important to remember that with the positives may come some serious drawbacks. Let's explore both sides: robo advisor pros and cons. Robo-Advisor Pros First off, let's highlight the positives. A big one is that many individuals who had never even considered investing before might still be in the same position today if it weren't for accessible solutions like robo-advisors. They have opened doors for countless people to enter the world of investing, which is exciting! But let's look at a few other benefits that have fueled their increasing popularity: Accessibility and Convenience: These are two key factors that influence consumer satisfaction, and robo-advisors deliver precisely that. They are easily accessible online or through mobile apps. Their user-friendly interfaces make it easy for investors to open an account and set up automated contributions within minutes, monitor their investments, and make adjustments — all without the need for face-to-face meetings or phone calls with a financial advisor. Automatic Diversification: If you're new to investing or have limited knowledge, robo-advisors alleviate the stress of deciding how to invest. Using sophisticated algorithms, they offer diversified investment portfolios based on your risk tolerance, investment goals, and how soon you may need to access your invested money. This approach can effectively mitigate risk and minimize the impact of market volatility on investment returns. Low Cost: Robo-advisors usually come with lower fees than traditional financial advisors who actively manage your portfolio. Through automation and technology, these platforms can offer their services at a lower cost, making investment management more accessible to a broader range of investors, including those with smaller portfolios. These benefits are precisely what many investors are seeking as they begin their investing journey, positioning robo-advisors as a solution for some. Robo-Advisor Cons While robo-advisors have gained popularity for their evident and understandable benefits, it's essential to acknowledge that every innovation or advancement often has accompanying drawbacks. Let's explore some of them: No Human Touch: Finances are deeply personal. Beyond mere math, financial decisions are often emotionally driven. While a robo-advisor can efficiently manage your investments using algorithms and automation, it can't engage in comforting conversations or provide reassurance during turbulent market conditions to prevent impulse decisions driven by fear or uncertainty. Nor can it offer encouragement to keep going or remind you of your progress in your financial journey when times get tough. Sometimes, human interaction and guidance are indispensable. Limited Customization: Robo-advisors typically offer a selection of pre-built portfolios made up of ETFs (exchange-traded funds) or mutual funds. While these portfolios provide diversification that suits many investors, they're not a perfect fit for everyone. Take, for example, an investor with specific preferences, like avoiding certain companies or industries or desiring to invest in individual stocks. In such cases, robo-advisors might be too restrictive. Additionally, robo-advisors might not have the capacity to deal with more complex financial situations, such as tax optimization or retirement income planning for high-net-worth individuals. Limited Area of Focus: While the allure of robo-advisors partially lies in their simplicity, that can equally be a drawback. Because robo-advisors primarily focus on investment management, you might miss out on the holistic approach of a human financial advisor who considers various aspects of your financial situation. A robo-advisor doesn't consider factors like high-interest debt you may have, for example, which might be wiser to pay down before aggressively investing. Nor does it account for the possibility of not having an adequate emergency fund or other pressing financial obligations that take priority. When it comes to investing, having a financial advisor looking at your entire financial landscape can provide valuable insights into the most suitable account types to open, ideal contribution amounts, and the target rate of return to aim for. These drawbacks highlight the importance of understanding the limitations of a robo advisor vs. a financial advisor and considering them in the context of your financial goals, preferences, and circumstances. Robo Advisors vs. Financial Advisors: How Five Pine Wealth Management Can Add a Personal Touch to Your Finances  The balance between the positive and negative aspects is a common challenge of many new technologies, robo-advisors included. As with any financial decision, investors should thoughtfully evaluate their individual needs and preferences before opting for these platforms. As you might be able to guess, we here at Five Pine Wealth Management place immense value on the personal touch and genuine passion of a human financial advisor. It's the driving force behind everything we do. We believe in understanding your circumstances, empathizing with your concerns, building a long-lasting relationship, and providing personalized guidance for each client. While we can recognize the advantages of robo-advisors, we can't ignore the fact that they can't replicate the human element in financial planning. The relationship with a financial advisor goes beyond mere numbers. And if that's what you're looking for, we'd love to chat! Contact us at info@fivepinewealth.com or 877.333.1015 to schedule a meeting.

Cashing in on a big investment windfall feels amazing—like winning a mini lottery for your hard work and patience. But then the reality check hits: Uncle Sam wants his cut, which can feel like a big one. The good news? With a little planning, you can keep more money while staying on the IRS's good side. Here’s how to make that happen. 1. Understanding Tax Implications: The First Step to Saving Before diving into tax-saving strategies, you must understand what you’re up against. Taxes on investments come in two main flavors: Short-term capital gains : These apply when you sell investments held for less than a year. The IRS treats these gains like regular income, meaning they get taxed at your ordinary income tax rate. If you’re a high earner, this rate could be as high as 37% . Long-term capital gains : Investments held for over a year are taxed at a lower rate, typically 0%, 15%, or 20% , depending on your income level. Knowing how long you’ve held your investment and what tax bracket you’re in gives you the foundation for planning. Long-term gains save you money compared to short-term gains, so patience often pays off in the tax world. 2. Timing Is Everything: More Taxes on a Lump Sum Payment One of the simplest ways to reduce your tax burden is to control when you take your windfall. Cashing out your entire investment in one year could push you into a higher tax bracket, meaning you’ll lose more of your hard-earned money to taxes. Instead, consider spreading out the sale over multiple years. For example, if you’re sitting on a $500,000 gain, selling $250,000 this year and the other $250,000 next year could keep you in a lower bracket. This strategy isn’t always possible—but it's worth exploring if you have the flexibility. 3. Leverage Tax-Advantaged Accounts: Your Secret Weapon One of the smartest moves you can make with a windfall is reinvesting it in accounts that come with tax benefits. Let’s explore some of your options: Traditional IRAs (Individual Retirement Accounts) : You can contribute up to $7,000 annually ($8,000 if you’re over 50), and your contributions might be tax-deductible. The money grows tax-deferred, meaning you don’t pay taxes on earnings until you withdraw it in retirement. 401(k)s : If you’re still working and have access to an employer-sponsored 401(k), you can defer up to $23,000 annually ($30,500 if you’re over 50). Some employers even allow after-tax contributions that can later be converted into a Roth. Health Savings Accounts (HSAs) : If you’re enrolled in a high-deductible health plan, an HSA offers triple tax advantages. Contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are tax-free. Your health plan, income, and whether you are using a family or an individual plan will determine how much you can contribute to your HSA. Using a combination of these tax-advantaged accounts can help you put the maximum amount of your windfall out of Uncle Sam’s reach—and they come with the added benefit of growing your retirement savings, increasing your peace of mind. 4. Make Giving Work for You: Charitable Contributions Giving to others feels good—and it can also give your tax bill a break. Maybe you’ve always wanted to be able to help more with a cause you believe in, or maybe this windfall has inspired you to pay it forward. If philanthropy is part of your financial plan, consider these strategies: Direct Donations : Donations to qualified charities are tax-deductible if you itemize your deductions. If you’re donating a large amount, spread the contributions over several years to maximize the deduction. The IRS allows you to deduct your cash donations up to 50% of your Adjusted Gross Income (AGI) to many nonprofit organizations or up to 30% to others. Donor-Advised Funds (DAFs) : With a DAF, you can make a large, upfront donation (and take the deduction immediately) but distribute the funds to charities over time. You’ll need to do more legwork to set up a DAF, but doing so can buy you time to decide where you’d like your money to go. This can be a great way to lock in a big tax deduction in the year of your windfall while giving thoughtfully. 5. Offset Gains with Losses: Tax-Loss Harvesting Rules Even if you’ve earned big with one investment, chances are you’ve got a few under-performers or downright dud investments lurking in your portfolio. Selling off these irksome investments can create losses that offset your taxable gains. Here’s how it works: Suppose you have a $100,000 gain from your windfall. If you sell other investments at a $20,000 loss, you’ll only owe taxes on $80,000 of gains. If your losses exceed your gains, you can use up to $3,000 annually to offset ordinary income, with the remainder carried forward to future years. If you are spreading your windfall over multiple years, this is especially helpful for offloading those lemons and allowing you to balance the loss moving forward. This strategy works best if you’re already planning to rebalance your portfolio. Just watch out for the IRS's wash-sale rule, which disallows losses if you buy back the same investment within 30 days. 6. Explore Qualified Opportunity Funds (QOFs): Tax Savings with a Purpose Qualified Opportunity Funds (QOFs) are a powerful way to reduce your tax burden and contribute to revitalizing underserved communities. These funds are part of the Opportunity Zones program, created under the Tax Cuts and Jobs Act of 2017, designed to encourage investment in economically distressed areas. Here’s how QOFs work: Deferral of Taxes : When you invest capital gains into a QOF within 180 days of selling an asset, you can defer paying taxes on those gains until December 31, 2026, or until you sell your QOF investment—whichever comes first. Tax-Free Growth : Any new gains generated by the QOF investment are tax-free if you hold the investment for at least 10 years. Example: Investing in a Qualified Opportunity Fund Suppose you recently sold some stock and realized $300,000 in capital gains. Instead of paying taxes on those gains immediately, you could reinvest the full $300,000 into a QOF. Imagine you invest in a QOF that focuses on revitalizing housing in a designated Opportunity Zone in a growing city like Detroit or Austin. Your funds might go toward building affordable housing units or mixed-use developments that bring new life to the area. Here’s how this could play out financially: Deferral : You won’t owe taxes on your $300,000 capital gains until the end of 2026. Tax-Free Growth : Over 10 years, your QOF investment appreciates to $500,000. If you meet the holding requirements, you’ll owe no taxes on the $200,000 of new gains. Community Impact : Your investment helps create jobs, build housing, and spur economic growth in a community that needs it. Professional Help Pays Off: How Five Pine Wealth Management Can Help Cashing out a big investment windfall is not the time to go it alone. Tax laws are complicated, and small mistakes can lead to big bills—or missed opportunities. Five Pine Wealth Management can help you: Run the numbers on your options. Identify strategies you may not have considered. Navigate complex situations, like equity compensation or inherited assets. You don’t have to figure it all out by yourself. At Five Pine Wealth Management , we can explain your tax obligations and offer strategies to potentially keep more of your money working for you. To see how we can help support your financial goals, send us an email or call us at: 877.333.1015.

For many parents, the end of daycare feels like a long-awaited financial milestone. No more sky-high monthly bills for childcare! But before you start redirecting those funds to other dreams or investments, let’s talk about an often-overlooked reality: the costs of raising kids don’t go away after daycare—they just shift. Extracurricular activities, summer camps, and other kid-related expenses can quickly replace them. Let’s break it down, debunk some myths, and explore strategies to keep your family budget (and your sanity) on track. The Daycare Cost Myth: When the Spending Doesn’t Stop Daycare costs can be jaw-dropping. For many families, these expenses rival a second mortgage or a high car payment. Naturally, there’s hope that when those daycare years end, your budget will breathe a sigh of relief. But here’s the thing: costs don’t magically disappear. They transform . As your children grow, new expenses fill the void. Think music lessons, travel sports, coding camps, tutoring, or after-school care. While these activities often feel less mandatory than daycare, they are still essential investments in your child’s development and they can add up quickly. According to a recent LendingTree survey , approximately 86% of high-income earners have their children involved in afterschool activities. These activities can be costly. Consider these costs: A competitive soccer program can run $2,000 to $5,000 annually Music lessons might set you back $1,500 to $3,000 per year Advanced academic tutoring or specialized training programs can easily reach $4,000 to $6,000 annually. When you multiply this by three, four, or even five activities (or more), those “savings” from daycare start to look a lot less impressive. For high-net-worth families, these costs might seem manageable at first glance. But the real kicker? The more opportunities your children have, the easier it is to overspend without realizing it. Tracking Your Family Budget: Awareness is Everything If you haven’t already, now is the time to get a clear picture of your family’s spending. You might find that extracurriculars creep into your budget in ways daycare didn’t—often sporadically and unexpectedly. Here are some tips to regain control: Identify Hidden Costs : Extracurricular activities come with sneaky expenses. Registration fees, uniforms, travel, equipment, and fundraising efforts can quickly double what you initially planned. Budget Seasonally : Unlike daycare, which is often a flat monthly rate, extracurriculars can fluctuate. Dance recital season or summer swim meets may require you to spend more during certain times of the year. Build these peaks into your budget. Set Limits : It’s easy to fall into the “yes trap,” especially if your child shows passion or talent in an activity. Be intentional about how many activities they participate in and prioritize those that align with your values. Plan for the Unexpected : Last-minute competition fees or special lessons often come out of nowhere. Having a family buffer fund can keep you from scrambling. Why It’s Easy to Overspend High-income families face unique pressures when it comes to kids’ activities. Beyond the financial ability to say “yes” more often, there’s a cultural expectation to do so. Here are some common traps we see with clients: Overcommitment : Money often opens doors to a dizzying array of extracurricular options. Saying yes to everything can lead to burnout for both parents and kids. Keeping Up with the Joneses : It's easy to fall into comparison traps, especially when other families travel for elite hockey tournaments or enroll in private music academies. Future-Planning Pressure : Activities often feel like stepping stones to college admissions or future success, making it hard to decline even costly opportunities. Recognizing these dynamics is the first step to breaking free from them. Remember, you don’t have to say yes to everything for your kids to succeed. Tax Benefits for Parents: Don’t Overlook Potential Savings One silver lining of managing child-related expenses is that some may come with tax perks. Here are a few to keep on your radar: Dependent Care Flexible Spending Accounts (FSAs) : This FSA allows you to set aside pre-tax dollars for eligible care expenses, such as after-school care or summer day camps. Child and Dependent Care Tax Credit : If you’re paying for care for a child under age 13, you might qualify for a credit on your tax return. Educational Savings Accounts : Extracurriculars that are educational in nature (like certain tutoring programs) might qualify for tax-advantaged savings if structured properly. Charitable Donations : Some extracurricular programs run by non-profit organizations may qualify as charitable donations. Keep detailed records of your contributions to these programs, as they could be tax deductible. Know Your State Tax Laws : Every state has different tax laws. For example, in Arizona, you can donate up to $400 (for a married couple) to a public school. The donation can then be used to pay for after-school activities such as sports programs for your children. You then receive an equal tax credit (not a deduction) off your state taxes. These benefits are often underutilized, especially among families who don’t feel they “need” the savings. But when layered with other smart financial strategies, they can free up funds for additional opportunities or long-term goals. Working with a financial advisor who understands the nuanced tax landscape and can help you maximize potential benefits is critical. The Value Behind the Dollar As fiduciaries, we understand that financial planning extends beyond simple cost calculations. These activities represent more than expenses — they're investments in: Skill development Character building Potential scholarship opportunities Social and emotional intelligence Creating lasting memories for your children It’s important to remember the intangible benefits of extracurricular activities. The key is finding the right balance between enrichment and financial stability. Preparing for What’s Next Even though daycare ends, the financial journey of parenthood doesn’t. The sooner you take control of shifting costs, the better positioned you’ll be for life’s next stages — whether it’s saving for college, supporting aging parents, or building a legacy for future generations. At Five Pine Wealth Management , we specialize in helping families like yours make thoughtful, informed financial decisions that align with your values. Our role is to help you navigate these investments strategically, ensuring that your financial decisions align with your family's broader goals and values.  Are you ready to create a financial plan that works for your family — daycare, dance lessons, and beyond? Schedule a meeting with Five Pine Wealth Management today. We’re only a phone call (877.333.1015) or email away. Let’s work together to create a family budget that reflects your priorities and sets you up for lasting financial success.

As the year comes to a close and a new one begins, many of us feel motivated to set resolutions to achieve: wellness goals to live healthier lives, professional goals to advance our careers, or personal goals to better ourselves. To help us lead more fulfilling lives, it’s important to remember to set financial goals as well. One of the best ways to position yourself for a successful year ahead is to set clear, intentional financial goals; without a roadmap, it’s easy to overlook your priorities and make reactive, rather than proactive, money decisions. Intentional financial goal-setting allows you to align your money with what matters most. By creating a financial plan that sets you up for success, you can move through 2025 with confidence and purpose. 1. Reflect on 2024 to Plan for 2025 Before setting financial goals for 2025, look back at the previous year and see where you stand financially. Looking back will help you move forward—by reflecting on your progress, you can understand what’s working, what’s not, and what you can build on in the year ahead. Evaluate Your Financial Habits: Take an honest look at your spending, saving, and investing habits. Did you stick to your budget? Were there times when you spent more than you made? Reviewing your financial habits can help you spot patterns and identify areas that need improvement. Identify Successes and Challenges: Recognize your financial successes, whether paying off debt, following a savings plan, or increasing your investments. But also acknowledge any setbacks, like unexpected expenses or missed savings goals. Understanding any challenges you may have had allows you to better address them as you plan for the new year. Reflection isn’t about perfection; it’s about learning and using what you’ve learned to refine your financial priorities for the coming year. By looking back, you can build a strong foundation for 2025 and help ensure your goals are realistic and aligned with your financial situation. 2. Set Your Financial Goals for 2025 The key to effective goal-setting is making your goals SMART—Specific, Measurable, Achievable, Relevant, and Time-bound: Specific : Your goal should be well-defined and clear. A specific goal eliminates ambiguity and gives you direction. Measurable: You should have a way to track progress. A measurable goal includes metrics or criteria to keep you motivated and help you know when you’ve achieved your goal. Achievable: Set realistic goals based on your current circumstances. While it’s great to aim high, your goals should be within reach. Setting achievable goals helps build confidence as you see progress. Relevant: Your goal should align with your overall priorities and financial situation. Time-bound: Set a deadline to achieve your goal. Setting SMART goals helps position you for success, as your resolutions aren’t just wishes but actionable plans. Create a Budget A well-planned budget is the cornerstone of financial goal-setting. Start by assessing your income and fixed expenses, then allocate funds for discretionary spending (while ensuring you leave room for savings and investments). By creating and sticking to a budget, you can help ensure steady progress toward achieving your goals for 2025. Build on Your Emergency Fund If you don’t already have emergency savings, make this a top priority. The common recommendation is three to six months’ worth of expenses. If you already have an emergency fund, consider increasing it to account for inflation or unexpected life changes. Pay Down Debt Reducing high-interest debt can improve your financial health and increase your financial freedom. With less debt, you can free up cash flow and put more towards saving, investing, and reaching your financial goals. Make sure you create a clear repayment timeline to keep you on track and stay motivated. Contribute to Retirement Accounts Fund your retirement: contributing to your 401(k) or IRA not only helps you build a nest egg for the future but can also offer immediate tax advantages. Aim to contribute at least enough to receive any employer match, since this is essentially free money that accelerates your savings. Consider increasing your contributions; incremental increases (even a small percentage annually) can have a significant impact over time. 3. Create a Blueprint for Success Creating a solid financial plan is all about building a roadmap that guides you toward your financial goals while keeping you motivated along the way. Here’s how to set yourself up for success as you work toward your financial aspirations: Break Goals into Manageable Steps: Large financial goals can feel overwhelming, so break them into smaller, achievable milestones. Smaller financial targets can make progress feel more attainable. Don’t forget to celebrate your wins! Automate Savings and Contributions: Setting up automatic transfers to your savings, investment, and retirement accounts is one of the most effective ways to stick to a financial plan. By paying yourself first, you put your goals first, before other spending. Build Flexibility into Your Plan: Life rarely goes the way you plan, so it’s important to leave room for adjustments. Regularly review your progress, and be prepared to adapt your timeline and priorities as needed. Focus on High-Impact Goals: Not all financial goals carry equal weight, so focus on the goals that will have the most significant impact on your financial health (like paying off debt or saving for retirement), provide long-term stability, and move you closer to achieving other financial milestones. Why You Shouldn’t Go It Alone  Setting intentional financial goals can help you take control of your financial future and ensure it’s fulfilling and secure. You don’t have to go it alone, though: partnering with a financial advisor can make a difference in achieving your goals, as their experience and knowledge can help you create a custom plan aligned with your long-term vision. At Five Pine Wealth Management , we work with you to develop a personalized plan that reflects your specific financial situation and priorities. As fiduciary financial advisors, we have your best interest in mind as we help you make informed decisions in your financial and retirement planning. We’ll always be in your corner, helping to keep you on track for achieving your goals in the new year and beyond. To see how we can help you in your financial planning, please give us a call at: 877.333.1015 or send us an email today.