Szarka Financial

06/25/2026

Which is the final word: your beneficiary designations or your will?

Your beneficiary designations. In almost every circumstance, it’s beneficiary designations.

It's one of the most overlooked facts in estate strategies. The beneficiary forms on file for your retirement accounts, insurance policies, and other accounts are legally binding—and they almost always override whatever your will says.

A former spouse still listed on a retirement account can inherit it. Someone written out of your will entirely can still receive an insurance payout. Assets intended for your children may pass to someone else because a form was never updated.

This applies across the board—even to payable-on-death bank accounts. 📋

The good news: a beneficiary review takes minutes. 💙

When did you last review yours?

06/24/2026

El Niño has formed in the Pacific, and forecasters say it could become one of the strongest events on record.

El Niño is a natural warming pattern in the Pacific Ocean that can affect weather around the world. This cycle may increase the risk of extreme heat, floods, droughts, wildfires, and other costly weather disruptions.

NOAA says there is a 63% chance this El Niño could become intense enough to rank among the largest events in the historical record going back to 1950.

The potential impact is not limited to weather. Severe climate events can affect agriculture, energy demand, insurance costs, supply chains, transportation, and local economies.

For households and businesses, El Niño is as much an economic story as an environmental one.

U.S. meteorologists say an El Nino has formed. That's the natural warming of parts of the Pacific that changes weather around the globe.

06/24/2026

Prediction markets suggest the Federal Reserve may show more agreement at its latest interest rate meeting.

Traders on Kalshi placed a 70% probability on a unanimous Fed rate decision in June. That would mark a shift from April, when four members dissented — the highest number of dissents since 1992.

The Fed is widely expected to hold rates steady in the 3.50% to 3.75% range as policymakers continue weighing inflation, oil prices, and broader economic uncertainty.

A more unified vote could signal that policymakers are aligning around the current rate path, even as inflation remains above the Fed’s long-term target.

For households and businesses, Fed decisions can influence borrowing costs, savings yields, mortgage rates, and overall economic confidence.

Even when rates do not change, the level of agreement among policymakers can offer insight into how the central bank is reading the economy.

Traders on prediction market platform Kalshi largely forecast a unanimous decision among FOMC members at Wednesday's meeting, after April's divided vote.

06/24/2026

Most couples spend years preparing financially for retirement.

Very few have talked about what retirement will actually look like.

Not the number. The life.

👉 Where will you live?

👉 What will your days look like?

👉 What happens if one of you is ready to stop working and the other is not?

A 2025 Fidelity survey found that 48 percent disagree on the age they prepare to retire. And research from Ameriprise found that nearly two-thirds expect to retire at the same time, while only 11 percent actually do.

The gap between what couples assume and what they have actually discussed is where retirement quietly breaks down.

The good news is that most couples are not as far apart as they fear. They just have not had the conversation yet.

👉 If retirement is somewhere on your horizon, the most valuable thing you can do right now is not check your portfolio.

It is to sit down with your partner and start asking the questions you have both been putting off.

06/24/2026

Where you save matters just as much as how much you save. See how tax-deferred growth compares to a taxable account over the same time horizon.

Compare how the same contribution grows differently in taxable versus tax-deferred accounts.

06/22/2026

Consumers continued spending in May, even as higher prices and gas costs remained part of the picture.

Retail sales rose 0.9% in May, up from a revised 0.4% increase in April. Excluding gas station sales, retail sales rose 0.7%.

The gains were broad-based, with clothing, accessories, furniture, and online sales all moving higher. Online sales rose 1.5% during the month.

The data suggests consumers are still spending, supported in part by tax refunds and steady hiring. However, economists noted that the boost from tax refunds may fade, and higher gas prices could still affect household behavior.

Some shoppers appear to be adjusting by looking for discounts, changing where they fill up, or becoming more selective with purchases.

For the broader economy, retail sales offer a useful snapshot of consumer strength — and how households respond when prices, fuel costs, and confidence all shift at once.

Shoppers stepped up their spending in May, surpassing economists’ expectations, as temperatures warmed and gasoline prices leveled off.

06/21/2026

There's a version of your father you didn't know. The one who existed before you came along. Before the responsibility. Before the sacrifices, you may not have fully understood until you were older.

Most of us only piece that together with time.

What fathers leave behind isn't just memories. It's a way of moving through the world.

A standard.

A sense of what it looks like to take care of the people who depend on you.

That's worth honoring. 👔

Happy Father's Day weekend to every father and father figure out there.

06/21/2026

How much do you know about stocks?

Understanding how a stock works is key to understanding your investments.

06/17/2026

Most people assume that a spouse's unused estate tax exemption passes to the surviving spouse automatically.

It doesn't.

Claiming it REQUIRES A FILING WITH THE IRS within 9 months of a spouse's death.

The IRS doesn't send a reminder. The deadline just passes.

A six-month extension is available, bringing the total window to 15 months. But the clock starts the day your spouse dies, not the day you think to ask about it.

This is exactly the kind of detail that gets lost in the fog of grief and estate administration.

It's also exactly the kind of thing we watch for on behalf of the families we work with. We also help families by working with their tax, legal, and accounting professionals to make certain that paperwork is completed in a timely manner.

06/16/2026

TV EVENT / Today at 12:25 PM!
WKYC Studios Channel 3 /
Szarka Financial helping Northeast Ohio Since 1985

If you're wanting to gain insight on current financial issues, tune in to Studios Channel 3 on Tuesdays at 12:25 pm for our new segment.

Les & Alex are set to deliver fresh insights and actionable strategies designed to help you confidently manage your financial journey in today’s evolving landscape.

Replays on our YouTube channel> https://www.youtube.com/user/szarkafinancialmgmt