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After over 30 years working with annuities and universal life at Neasham Insurance Agency, I’ve seen how often folks overlook beneficiary updates after a divorce. While a finalized divorce can revoke some will provisions for an ex-spouse, this protection rarely applies during a separation. It’s important to remember that your will only dictates assets held solely in your name without a designated beneficiary. Bank accounts, retirement plans, investment accounts, annuities, pensions, and life insurance can still pass directly to an ex-spouse if beneficiary forms aren’t updated—regardless of what your will says. Living trusts offer added control and can help manage assets during incapacity, but they, too, need a careful review after divorce. Always double-check divorce orders before making changes, since some agreements or employer plans may require keeping an ex as a beneficiary due to federal regulations. After divorce, prompt updates to wills, beneficiary forms, and trusts are key to ensuring your assets end up where you intend. Consulting an attorney can help you keep everything in line with your wishes.

There’s a new federal initiative that could make a big difference for families—children born between January 1, 2025, and December 31, 2028, with valid Social Security numbers may now receive a $1,000 starter deposit into an investment account. This pilot program is designed to help families begin long-term investing early, using low-cost index funds tied to the stock market. As someone who’s spent over three decades helping clients build lasting financial security through annuities and universal life, I know how valuable early savings can be. Parents, grandparents, friends, and even employers can contribute to these accounts, with a $5,000 annual cap per child in 2026. While withdrawals are limited during childhood, the account transitions seamlessly into the traditional IRA system once the child reaches adulthood, following standard tax and withdrawal rules. Since contributions began on July 4, 2026, six million children have already enrolled. Accounts can be opened with Form 4547, and hospitals are now making it easier by providing information at birth registration. Early planning truly sets the foundation for a lifetime of financial well-being.

After more than three decades helping clients navigate annuities and universal life at Neasham Insurance Agency, I’ve seen how easy it is for everyday money traps to quietly undermine even the best savings strategies. Having 3 to 6 months of living expenses set aside, within easy reach, is a solid first defense—helping you handle surprises without rushing to sell investments or turning to high-interest debt. When markets swing, it’s tempting to check accounts constantly or panic-sell, but that can lock in losses and add stress about when to reinvest; a longer-term view and less frequent monitoring can support steadier decisions. Putting off retirement contributions means missing out on valuable compounding, but setting up automatic deposits into your workplace plan or IRA can simplify things and help steady progress over time. I often remind clients that a single large position in one investment can quietly raise your risk, so reviewing your allocations each year and diversifying across sectors and regions keeps your portfolio balanced. And while it’s natural to hold extra cash after a market dip, staying on the sidelines too long can mean missing the eventual rebound—gradually investing at regular intervals can help you get back to a diversified approach at a manageable pace.

With over 30 years at Neasham Insurance Agency, I've guided many through the ins and outs of annuities. They're a powerful tool for creating predictable retirement income, but every contract comes with its own guarantees, restrictions, and potential risks. Before you buy, make sure you know exactly what's guaranteed—whether that's your principal, income stream, death benefit, interest rate, or another feature. It's equally important to understand under what conditions these guarantees might be reduced or lost. Fees are another area to watch: they can be tucked away in riders, spreads, investment limits, or other charges. Always ask for a complete list of costs in both dollars and percentages, and find out if your advisor’s compensation changes based on the product. Before making any commitment, request the surrender schedule in writing, review the penalty-free withdrawal terms, and clarify how early access, emergencies, or additional premiums could impact your benefits. And if you’re considering switching or exchanging contracts, compare them side by side, confirm the insurer’s financial strength, and make use of the free-look period to be sure the new contract is the right fit. My experience has taught me that the right questions make all the difference.