April was a wild ride. The U.S. flipped its trade policy upside-down, markets swung like pendulums with historic trading days, and uncertainty hung heavy. I tackled the new tariffs in two blog posts last month, weighing their pros and cons. Now, with May here, I want to look ahead at the evolving trade landscape and President Trump’s actions, channeling the spirit of my Italian father and grandfather’s favorite Spaghetti Westerns: The Good, The Bad, and The Ugly. I also want to address year-to-date market activity globally and why diversification means a worldwide allocation, while also touching on recession fears (yet again).

Changing generational norms and learning talking about money only benefits us all.

The recent Cornell University 401(k) lawsuit (Cunningham v. Cornell University) underscores vital fiduciary responsibilities for retirement plan sponsors, business owners, and key decision makers. The court ruled that Cornell breached fiduciary duties by failing to prudently manage fees and investments, resulting in significant reputational damage and compliance costs.

In last week’s post, I outlined to the benefits of tariffs and their downsides. I am generally opposed to tariffs arguing they are a costly and imprecise tool better avoided in favor of free trade. The recent tariff implementation in the first week of April has prompted me to further contemplate this stance. Billed as reciprocal measures to mirror foreign trade barriers, these tariffs have been poorly executed and inconsistently explained. This post critiques the rollout, explores compelling arguments in favor of tariffs from economists and geopolitical strategists outside the administration, and reflects on whether my free-trade convictions need adjustment in light of current realities.

Tariffs, taxes on imported goods, have long sparked fierce debate in economic policy, and that fire has only intensified with the Trump Administration thrusting them into the spotlight. This week, new tariffs take effect, and it remains unclear whether these are reciprocal tariffs, national security tariffs, or something else entirely.

When it comes to managing 401(k) and 403(b) retirement plans, it's easy to get caught up in numbers like participation rates, deferral percentages, and investment returns. But behind each of those metrics is a real person, each with different goals, backgrounds, and concerns.

If you’re a college student searching for a side hustle that doesn’t involve punching a clock at a dull, part-time job, consider selling your old toys and clothes online! This side gig requires almost no startup costs, offers impressive earning potential, and builds skills that will benefit you well into adulthood. Plus, your parents are probably itching to toss that stuff anyway—why not turn their trash into your cash?

Valued Clients & Friends, As I get busy the next few weeks getting nearly everyone’s tax compliance obligations for 2024 completed, I wanted to touch base to update you on a few happenings in our firm and additional thoughts on the economic landscape in which we find ourselves. 2025 is flying by and a lot is happening in the markets, politics, and I am sure in our collective personal lives. Getting right to it…

Technological change has always been met with a mix of excitement and anxiety. Today, headlines about autonomous trucks replacing drivers or robots taking over manufacturing lines seem to confirm our fears about mass unemployment. My mind goes there, too, by default. But, if history is any indication, technology usually leads to new opportunities, not permanent job losses. Think of how farm mechanization dramatically reduced the need for farmhands in the 20th century, or how elevator operators disappeared once automatic elevators became standard. Societies adapted, workers moved on to new fields, and the overall standard of living rose.

A few weeks ago, I was talking with a client who noted that post-COVID, the future—and the financial risks it presents, felt uncertain. It’s a sentiment that I’ve heard often, and it’s true that no one would have predicted on January 1st, 2020, what was to come in the year following. With that said, it’s worth remembering that hedging against risk is part of what we do for clients. In fact, we’re constantly keeping tabs on the markets, the economy, and key trends on our clients’ behalf. Below are four risks many of our clients are facing, along with some general strategies that are often employed to combat these issues.