Legatum Wealth Advisors

04/03/2026

What a $5 Frappuccino can teach your teen about building wealth 👇

April is National Financial Literacy Month, and here's a number worth sharing at the dinner table.

If your teen opens a Roth IRA at 18 with $1,000 from a part-time job and adds $1,000 a year, that single account could be worth nearly $500,000 by age 65. Tax-free.

Think they can't save $1,000 a year? Skipping the daily Frappuccino more than covers it. ☕

But the best financial education isn't about the math. It's about real decisions with real consequences.

A few things that actually work:

✅ Hand them cash instead of a credit card for shopping. Let them keep what they don't spend.

✅ Give them a clothing budget for the year. If they blow it by October, that's the lesson.

✅ Have the college money talk before they fall in love with a school. As one counselor put it, "Have the conversation before they buy the hoodie."

✅ With the Roth IRA, you can show them that there are certain rules with certain accounts. For example, to qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must meet a 5-year holding requirement and occur after age 59½. Also, tax-free and penalty-free withdrawals can also be taken under certain other circumstances, such as the owner's death. The original Roth IRA owner is not required to take minimum annual withdrawals.

What's one money lesson you wish someone had taught you earlier? 👇

Please consult with a tax and finance professional before making any decisions.



Sources:
-https://www.calculator.net/roth-ira-calculator.html?cstartingprinciple=1%2C000&cannualaddition=1%2C000&cmax=n&cinterestrate=8&ccurrentage=18&cretirementage=65&ctaxtrate=25&printit=0&x=Calculate -ira-result
-https://www.ngpf.org/blog/advocacy/how-many-states-require-students-to-take-a-personal-finance-course-before-graduating-from-high-school-is-it-6-or-is-it-21/

04/01/2026

It’s 10 days until Tax Day. A busy person like you might find themselves filing your taxes in the final stretch for many reasons. Don’t sweat it! Get your paperwork together, talk to your trusted tax professionals, and remember that filing for an extension is possible before April 15th!

03/25/2026

You might be paying more in taxes than you need to—and not even realize it.

From investment timing to account selection, small decisions can have a big impact on your total tax bill. Here are five areas to keep in mind this tax season.

03/10/2026

Discover important age-related milestones, from catch-up contributions to Social Security benefits, all in one concise visual guide. Stay informed and plan for a secure financial future.

Get ready to celebrate your financial birthdays in this informative infographic.

02/16/2026

Presidents’ Day! Originally a holiday celebrating the birth of George Washington, the first President of the United States, it has since become a holiday to mark all those who have served in the nation’s highest office. How will you spend the holiday weekend? A quick excursion with family or loved ones? A quiet break at home? However you are marking the holiday, here’s hoping you enjoy your Presidents’ Day!

01/31/2026

The One Big Beautiful Bill Act extends the 2017 tax cuts, making some rules permanent. The bill also creates several new tax laws for individuals while addressing other tax issues for businesses.

It might be a good time to check with your tax, legal, or accounting professional about the changes in the law. Like previous tax laws, some new rules are scheduled to expire, while others are permanent. Here’s a look at changes expected to impact most tax filers shortly.

Sources:
CNBC.com, July 3, 2025.
Congress.gov, August 21, 2025.

01/28/2026

Homeownership can bring added considerations during tax season.

As the IRS begins accepting 2026 tax returns, homeowners may be reviewing whether to itemize deductions or take the standard deduction. Depending on individual circumstances, certain expenses tied to owning a home may still be eligible for tax treatment under current rules, including mortgage interest and property-related costs.

Because tax situations vary, it may be helpful to review what applies to you before filing.

If you have questions about how these items show up in your overall financial picture, feel free to reach out. For specific tax guidance, it’s best to connect directly with your qualified tax professional. I’m happy to coordinate with them to ensure your financial strategy is aligned.



Source:

It will mostly be business as usual for homeowners this tax season. However, new changes introduced under the "big, beautiful bill" may affect how they file.

01/01/2026

12/22/2025

Happy Holidays ✨
Wishing you joyful moments, grateful hearts, and peaceful days this season. ❄️
May the weeks ahead bring warmth, celebration, and time with those who matter most. 🕯️🎁

12/22/2025

🚀 Big News for Your 2026 Retirement Plans! 🚀

The IRS announced new contribution limits for 2026 in November, and there's a lot to look forward to! Here's a quick breakdown:

🔹 401(k), 403(b), 457 Plans & TSP: Contribution limit increased to $24,500 (up from $23,500 in 2025). If you're 50 or older, you can contribute up to $32,500 annually!

🔹 IRA Contributions: Limit increased to $7,500. Catch-up contributions for those 50 and older are now $1,100.

🔹 Roth IRA & Saver’s Credit: Income phase-out ranges have increased, making it easier to qualify and maximize your savings.

🔹 SIMPLE Accounts: Contribution limit up to $17,000, with higher limits for certain accounts.

🔹 Medicare Part B: Monthly premiums will rise to $202.90, impacting how much of your Social Security COLA you'll see.

Stay up-to-date with details about your retirement savings! For full details, check out Notice 2025-67 on the IRS website.

With most retirement accounts, once you reach age 73, you must begin taking required minimum distributions. Roth accounts are the exception. Withdrawal penalties may apply if you take the money before age 59½. Roth IRA distributions must meet a 5-year holding requirement and occur after the account holder reaches age 59½.



Sources:
IRS.gov, November 13, 2025
CNBC, November 17, 2025

10/23/2025

Thinking about solar, EVs, or energy-efficient upgrades?

Several energy tax credits expire under the One Big Beautiful Bill Act including:
🚗 Clean vehicle credit
🏠 Residential clean energy credit
🔋 Energy-efficient home improvement credit

The IRS has published FAQs to help with eligibility and phase-out timelines.

Call for more information, but don’t make any changes until you speak with your tax, legal, or accounting professional.



Source: IRS.gov, September 16, 2025