For many retirees and pre-retirees, a home is more than just a financial asset. It’s where memories were made, where family gathers, and often one of the largest pieces of a family’s legacy. That’s one reason we frequently hear a simple but important question:

“What would actually happen to my home if something happened to me?”

Many people assume they already know the answer. They may believe their will takes care of everything, that their children will automatically inherit the property, or that the estate planning documents they signed years ago still accomplish exactly what they intended. Sometimes those assumptions are correct. Other times, they’re worth revisiting.

Understanding how your home may transfer can help provide clarity today and potentially make things easier for loved ones in the future.

Why Probate Comes Up So Often

One reason this topic generates so many questions is because people frequently hear about probate. Perhaps they’ve watched a family member go through the process or heard stories from friends who experienced delays while settling an estate. As a result, many homeowners wonder whether their own property would eventually go through probate and whether there are ways to simplify the transfer process for their family.

Probate is the legal process used to settle an estate after someone passes away. Depending on how property is owned and how an estate plan is structured, a home may or may not pass through probate before ownership transfers to heirs.

For some families, the process may be relatively straightforward. For others, it can involve additional time, paperwork, and administrative responsibilities.

The important thing to remember is that probate is only one piece of the conversation. The broader question is whether your current ownership structure and estate plan align with your wishes and your family’s goals.

Common Ways a Home May Transfer

There are several ways a home may pass to loved ones, and the right approach often depends on a family’s unique circumstances.

Some homeowners own property jointly with another individual. In certain situations, ownership may transfer directly to the surviving owner. Others use a revocable living trust as part of their overall estate plan. Trusts can help coordinate how assets are managed and distributed while supporting broader planning objectives.

Here in Michigan, another option that frequently comes up is something called a Lady Bird Deed, sometimes referred to as an Enhanced Life Estate Deed. While the name may sound unusual, a Lady Bird Deed is simply one of several estate planning tools available to property owners.

One Estate Planning Tool You May Hear About: Lady Bird Deeds

One reason Lady Bird Deeds receive so much attention is that they may allow a homeowner to maintain significant control over the property during their lifetime while establishing a plan for how the property may transfer upon death.

Estate-planning laws and available strategies can vary from state to state, which is one reason it’s important to work with qualified professionals familiar with your situation and the laws where you live.

One reason some homeowners find Lady Bird Deeds appealing is that they may allow the owner to maintain significant control over the property during their lifetime, even if future plans change.

Because of those features, Lady Bird Deeds are frequently discussed among homeowners in Michigan who are exploring estate-planning options. However, a Lady Bird Deed is not automatically the right solution for every family. Like any estate planning strategy, its effectiveness depends on a person’s overall goals, family circumstances, and broader estate plan.

This is why conversations about trusts, probate, and Lady Bird Deeds are often connected. They are all tools that may help accomplish different objectives, and the most appropriate approach varies from one family to the next.

Additional Considerations for Farm and Recreational Property Owners

For families who own farmland, hunting property, cottages, or other real estate that has been in the family for generations, these conversations can become even more meaningful. In many cases, the property represents both a significant financial asset and a deeply personal family legacy.

An additional question often emerges:

What do we ultimately want to happen to this property?

In those situations, conversations about estate planning often extend beyond the property itself and into broader family, legacy, and succession considerations.

Reviewing Your Assumptions

One of the most valuable estate planning exercises isn’t necessarily creating new documents. It’s reviewing the assumptions you may already have.

If something happened tomorrow, do you know exactly how your home would transfer? Do your current documents still reflect your wishes? Have there been significant life changes since those documents were created? And perhaps just as importantly, does that outcome still reflect what you want today?

Retirement, the loss of a spouse, the purchase or sale of property, changes in family relationships, and the arrival of grandchildren are all examples of events that may prompt a review. Even if no changes are ultimately needed, a review can provide confidence that everything remains aligned with current goals.

Estate Planning Is About More Than Documents

When people think about estate planning, they often focus on wills, trusts, deeds, and legal paperwork. Those tools are important, but estate planning is ultimately about helping loved ones navigate a difficult time with greater clarity and fewer surprises.

At Richmond Brothers, we help clients understand how estate planning decisions fit into the broader context of retirement planning. While we do not provide legal advice, we frequently work alongside estate planning attorneys to help clients coordinate decisions related to income planning, investments, taxes, healthcare, and legacy planning.

A simple question to consider is this:

If something happened to you tomorrow, are you confident you know exactly how your home would transfer?

If the answer is yes, that’s wonderful. If you’re unsure, it may be worth revisiting your estate plan with your attorney and financial team.

Sources:

https://www.canr.msu.edu/news/overview-of-lady-bird-deeds-in-michiganhttps://www.michbar.org/journal/Details/Ladybird-deeds-Key-features-and-uses?ArticleID=4796

Interest rates. Inflation. Artificial intelligence. Oil prices. Elections.

The headlines seem to change every day, and it can be difficult to know which stories deserve your attention and which are simply part of the normal ebb and flow of the markets.

As we move into summer, many retirees and pre-retirees are asking a familiar question:

What do today’s economic headlines actually mean for my retirement plan?

In this month’s Matt’s Minutes, Matt Curfman, CFP®, CEO & Co-Owner of Richmond Brothers, shares several areas our team is watching, including interest rates, inflation, corporate earnings, artificial intelligence, and global events—and why retirement planning is often about staying focused on your goals rather than trying to predict the next headline.

Timestamps

0:30 – Economic headlines we’re watching

0:46 – Interest rates, inflation, and the Federal Reserve

1:25 – Why corporate earnings still matter

2:10 – AI growth beyond the technology sector

3:35 – Iran, oil prices, and consumer spending

4:45 – Summer market pullbacks and what they mean

5:20 – Elections, uncertainty, and staying focused

5:30 – Finding the right balance in your portfolio

6:10 – AE Wealth Management strategy updates

6:52 – Final thoughts and gratitude

(Full transcript below)

What We’re Watching

Interest Rates and Inflation Remain Front and Center

Interest rates continue to be one of the most discussed topics in the financial world.

While rates have remained relatively stable, inflation concerns and energy prices continue influencing expectations about future Federal Reserve decisions. These factors can affect everything from borrowing costs to bond yields and overall market sentiment.

Rather than trying to predict exactly where rates will go next, we continue focusing on how different economic environments may impact retirement planning over time.

Corporate Earnings Continue Supporting Market Growth

One thing we’re paying attention to behind the scenes is corporate earnings.

At the end of the day, companies need to continue growing profits to support long-term market growth. Many businesses have continued reporting strong earnings, which helps provide context for some of the market strength we’ve seen over the past year.

Will growth continue at the same pace? No one knows for certain. But earnings remain one of the key indicators investors watch when evaluating the health of the broader economy.

Artificial Intelligence Is Expanding Across Industries

Artificial intelligence remains one of the biggest stories in today’s economy.

What’s interesting is that the conversation is expanding well beyond technology companies. Healthcare organizations, financial firms, utilities, manufacturers, and many other industries are finding ways to use AI to improve efficiency and productivity.

The question many investors are asking is whether these investments will translate into meaningful business growth over time. It’s one of the developments we’ll continue monitoring as the technology evolves.

Global Events Can Affect More Than Markets

Global events often create uncertainty for investors, but their impact can extend beyond market volatility.

Matt discusses ongoing concerns surrounding Iran and global oil prices and how higher energy costs can influence inflation, consumer spending, and economic growth.

When households spend more on fuel and other necessities, they often have less available for discretionary spending. Because consumer spending remains an important driver of economic activity, it’s one of the indicators economists continue watching closely.

Your Retirement Plan Is More Important Than the Headlines

The same headline can affect different families in different ways.

Someone drawing income from their portfolio may view market volatility differently than someone who is still saving for retirement. A family focused on legacy planning may have different priorities than someone focused primarily on retirement income.

That’s why retirement planning involves more than reacting to headlines. It requires understanding how income, investments, taxes, healthcare, and legacy planning work together over time.

The goal isn’t predicting every market movement. The goal is helping ensure your retirement plan remains aligned with your personal goals, circumstances, and priorities.

Key Takeaways

• Economic headlines will continue to change throughout the year.
• Corporate earnings remain an important indicator of business health and market growth.
• Inflation and energy prices can influence consumer spending and market sentiment.
• Retirement planning works best when income, investments, taxes, healthcare, and legacy planning are considered together.

In Closing

Every year brings a new set of headlines.

Some will dominate the news cycle for weeks. Others will disappear as quickly as they arrive.

What remains constant is the importance of having a retirement plan built around your goals rather than today’s news.

Interest rates may change. Inflation may rise or fall. Markets will experience periods of optimism and periods of uncertainty.

Our role is to help families evaluate those developments within the context of their broader retirement plan and continue making thoughtful decisions as circumstances evolve.

At Richmond Brothers, we remain committed to helping educate, inform, and guide the families we serve while helping them live fearlessly into and beyond retirement.

The commentary in this video reflects the personal opinions, viewpoints, and analyses of Richmond Brothers employees and should not be regarded as advisory services provided by Richmond Brothers. Statements are subject to change without notice. Any mention of securities or market performance is for illustrative purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk, including the potential loss of principal. Richmond Brothers, Inc. does not provide tax advice; please consult your tax professional regarding your specific situation.

Full Transcript

Hi everyone. Matt Curfman, CFP®, CEO & Co-Owner of Richmond Brothers, here with my trusty economic companion, Mr. Oliver, with a nice little yawn there because he knows we’re going to be talking about the economy, markets, the headlines, what things can impact your retirement dollars, and what thoughts we have about them.

All right, Oliver, thanks for your help. Thank you for indulging me.

As we head into the beginning of June, there are a couple of headlines we’re still talking about and hearing quite a bit. One is interest rates.

Interest rates are remaining fairly stable, and depending on whether you’re looking at the 10-year Treasury or the 30-year Treasury, rates have gone up a little bit. That’s largely due to uncertainty surrounding inflation and oil prices, which we’ll get into later.

There has also been a new Federal Reserve Chair announced and sworn in since my last Matt’s Minute. That could have an impact on the direction of interest rates and the economy. There are also ongoing discussions about whether the Fed remains an independent institution, unswayed by political views or the White House.

Again, these are simply questions we’re seeing raised in the headlines.

Inflation is still here, largely because of oil prices, and I’ll touch on that separately.

From an economic standpoint, we’re looking closely at corporate earnings. Corporate earnings are really what justify share prices when you look at the overall stock market, including the S&P 500, the Dow Jones, and the Nasdaq.

In general, when you look year over year, corporate earnings are still growing at a fairly strong pace. That can arguably help justify the growth pattern we’re seeing in the stock market behind the scenes.

Will that continue at the same rate over the next year? Do we expect that? The answer is: who knows? Growth is expected, but the question is at what level.

Then you tie that into artificial intelligence, and that growth is expanding beyond just the technology sector. Businesses across healthcare, finance, utilities, and many other industries are beginning to utilize artificial intelligence to gain efficiencies in what they’re already doing.

What that does is allow businesses to continue growing, especially when unemployment remains so low. Mathematically, there simply are not many additional workers available to hire in order to keep the economy growing through workforce expansion alone.

Again, these are simply things we’re paying attention to and headlines we’ve been watching over the last couple of weeks and throughout the past month.

The question many people are asking is whether we’re in a technology bubble or an AI bubble. A bubble simply means things have gotten so large that people wonder whether they’re going to contract. Is the bubble going to burst?

You can think back to periods like the late 1990s and the Internet technology bubble. Then you look at 2007, 2008, and 2009 and think about the real estate bubble and the financial crisis.

There are certainly arguments on both sides. However, I’ll go back to the earnings discussion. If corporate earnings continue to grow, that can be one metric used to justify the market’s continued growth.

Again, that’s simply something we’re paying attention to.

Next is geopolitical uncertainty.

We’re another month into ongoing tensions involving Iran, and there remains a great deal of uncertainty surrounding the impact on global oil prices. When oil prices rise, it ties directly into our earlier discussion about inflation.

Consumer spending accounts for roughly two-thirds of economic activity, and when consumers’ budgets are strained because they’re spending more at the pump, they have less money available for other purchases, whether that’s vacations, food, groceries, or other discretionary spending.

That’s where concerns about inflation come into play, as it could potentially slow down or derail economic growth.

So far, consumers have remained fairly resilient, and spending patterns have stayed strong. Again, these are simply indicators we monitor behind the scenes.

We don’t know what the timeline looks like, and there doesn’t appear to be any clear indication of when tensions involving Iran may ease, if they do at all. The assumption is that if the conflict continues, oil prices will likely remain elevated.

Historically, markets will often experience a pullback during the summer months. There’s no exact science behind that. Sometimes there’s simply a seasonal slowdown because there isn’t as much economic data being released during the summer.

There’s often plenty of noise, but not necessarily a lot of new data.

It’s simply something we want to keep on our radar. If that were to happen, remember that temporary market pullbacks are a very normal part of the market cycle.

What we want to monitor is whether conditions are becoming worse, whether risks are increasing, and whether any adjustments need to be made. That’s where we’ll continue paying close attention.

Then, in the second half of the year, we’ll also begin approaching the midterm elections, which could create additional uncertainty.

Our goal, as we partner with you on your financial journey, is to continue finding the right balance within your portfolio for your unique situation.

That may mean having some assets with safety nets, some more conservative investments, and some assets within Fidelity utilizing liquid strategies, stocks, mutual funds, and exchange-traded funds.

Our objective is to continue helping you pursue the best risk-adjusted outcomes based on your goals and circumstances.

With that in mind, we’ve received a lot of questions and have had a great deal of ongoing dialogue regarding our expanding offerings and holdings within your Fidelity accounts, as well as the DocuSigns and our new strategies through AE Wealth Management.

We’ve had excellent discussions throughout the entire month of May as of the recording of this video.

Relative to the assets we manage for individual families, more than 85% of those assets now have access to the AE Wealth strategies. There is still approximately 15% that we’re hoping to connect with through a few additional conversations and follow-up discussions.

If you’ve received those DocuSigns and haven’t signed them yet, or if you still have questions, please reach out to us. We’re here to support you.

You can contact us at questions@richmondbrothers.com, and someone from our advisory team will be happy to have a one-on-one conversation with you.

Thank you again for your continued partnership, confidence, and trust.

Our aim is to educate, inform, and guide you through your financial journey, no matter what the world throws in our path.

Thank you for being part of Richmond Brothers, and have a beautiful start to June.

In April, members of our advisory team traveled to Las Vegas for the Spring 2026 Ed Slott Elite IRA Advisor Group℠ workshop to stay current on retirement planning and tax law changes affecting retirees and pre-retirees today.

The training covered topics like inherited IRA rules, Roth conversion considerations, required minimum distributions, and recent retirement legislation changes.

A lot of the discussion centered around how quickly retirement rules continue to change and how those changes can affect real-life planning decisions over time.

What made sense several years ago may deserve another look today. Tax laws evolve. Family dynamics shift. Priorities change in retirement. And sometimes decisions people made years earlier around beneficiaries, distributions, or taxes can create unintended consequences later if they haven’t been revisited in a while.

One topic that came up repeatedly during the workshop was today’s tax environment and the planning opportunities it may create for some retirees. Ed Slott spoke about how recently extended lower tax rates may create a limited planning window for certain tax strategies, including Roth conversion conversations in the right situations.

That discussion reinforced how important it can be to periodically revisit retirement and tax planning decisions as rules continue to evolve over time.

The workshop included conversations around:

• Roth conversion considerations
• Updated inherited IRA rules
• Required minimum distribution (RMD) regulations
• Retirement account changes scheduled for 2026
• Tax considerations tied to retirement income
• Differences between IRA and employer retirement plan rules

One discussion that especially stood out focused on how certain planning decisions can become harder to adjust later in life if they have not been reviewed in many years, particularly during periods of health or cognitive decline. It was a good reminder that retirement planning is rarely about making one perfect decision. More often, it involves continuing to revisit important pieces as life changes over time.

At Richmond Brothers, ongoing education is an important part of how we care for our family of clients. The retirement planning world continues to shift, and we believe staying current helps support more thoughtful conversations with the families we serve. It’s also why one of our core values is: We commit to lifelong learning & relentless improvement.

For many families, retirement planning decisions around beneficiaries, IRA distributions, Roth conversions, or taxes were originally made years ago under a very different set of rules. Revisiting those decisions periodically can help make sure everything still aligns with your goals, priorities, and today’s retirement landscape.

If you’ve recently experienced a life change, inherited an IRA, retired, or simply haven’t reviewed parts of your plan in a while, it may be a good time to revisit those conversations. For many families, retirement planning is less about making one major decision and more about continuing to adjust as life and the rules around retirement continue evolving.

This communication is intended for educational purposes only and should not be construed as individualized tax, legal, or investment advice. Richmond Brothers is an SEC-Registered Investment Adviser. Please consult with your tax or legal professional regarding your specific situation.

Many people approaching retirement, or already living in retirement, feel reasonably confident about the foundation they have built over time.

They have saved consistently, built investment accounts, and made thoughtful financial decisions along the way. Often, they have a general sense that things are “on track.”

But retirement planning is not something that stays fixed forever.

Over time, markets shift, tax laws change, spending evolves, and priorities naturally adjust. In many ways, retirement planning becomes even more dynamic once retirement actually begins.

That is why one of the most valuable questions to revisit periodically is not simply:

“How are my investments doing?”

But rather:

“Is my overall plan still aligned with what I want it to accomplish?”

Because being “on track” is about more than investment performance alone.

Being “On Track” Is About More Than Investments

When people think about retirement progress, they often focus on a few common indicators such as account balances, investment returns, or monthly spending levels.

And while those things certainly matter, they do not always tell the full story.

Retirement planning is not just about investments. It is how income, investments, taxes, healthcare, and legacy decisions all interact over time.

A change in one area can quietly influence several others. And those interactions are not always obvious when each decision is reviewed separately.

That is often where small areas of misalignment can gradually develop over time.

Example #1: When Strong Performance Creates a False Sense of Confidence

One situation that can come up is when investment performance becomes the primary measure of whether someone feels financially secure.

For example, markets may perform well for a period of time, and account balances may grow accordingly. On the surface, everything appears to be moving in the right direction.

At the same time, however, spending may have increased, retirement goals may have shifted, or future tax exposure may look very different than it did several years earlier.

None of these changes necessarily create an immediate problem. But over time, they can impact how sustainable the overall plan may be and whether different parts of the strategy are still working together effectively.

These kinds of shifts are easy to miss when someone is focused primarily on portfolio performance by itself.

Example #2: When Individual Decisions Are Fine but the Overall Plan Is Not Fully Coordinated

In other situations, each individual decision may make sense on its own.

Someone may have a diversified portfolio, a conservative withdrawal strategy, updated estate documents, and a thoughtful approach to taxes. Individually, none of those decisions are necessarily wrong.

But retirement planning does not happen one decision at a time. Everything interacts.

A withdrawal strategy may influence taxes differently than expected. Changes in income needs may affect long-term flexibility. Healthcare costs or timing decisions may gradually shift how other parts of the plan function over time.

These issues are not always dramatic or obvious. More often, they develop gradually as different parts of the plan evolve separately without being reviewed together as a whole.

Why This Happens So Often

One reason this happens is because financial decisions are naturally reviewed in separate categories.

Investments are reviewed on their own. Taxes are handled separately. Estate documents may only be revisited occasionally.

But retirement itself does not operate in separate categories.

As retirement approaches, and especially once retirement begins, the interaction between decisions tends to matter more. What once felt straightforward can become more interconnected over time.

That does not mean something is “wrong.” It simply means that even strong plans benefit from being revisited periodically as life and circumstances evolve.

A Better Question to Revisit Periodically

Instead of asking:

“How is my portfolio doing?”

It may be more helpful to ask:

“Does my current plan still reflect my life, my priorities, and how all these decisions work together?”

Because being “on track” is not just about whether one part of the plan is performing well.

It is about whether the overall strategy still supports the kind of retirement someone wants to live over time.

What May Be Worth Revisiting

For many people, this does not require starting over.

But it may be worth revisiting questions like:

1. Have my priorities or goals changed over time?
2. Do my income and withdrawal strategies still make sense?
3. Have taxes or healthcare considerations shifted?
4. Are all parts of the plan still working together effectively?

Sometimes even a small adjustment in one area can influence several others.

Final Thoughts

For many retirees and pre-retirees, the challenge is not a lack of preparation or effort.

More often, retirement planning simply becomes more interconnected over time. And when decisions are reviewed individually instead of collectively, it becomes harder to see how all the pieces fit together.

If you have not stepped back recently to look at your plan as a whole, this may be a good opportunity to revisit it from a broader perspective.

Even strong plans benefit from being revisited periodically as life, priorities, and circumstances evolve over time. For our clients, that ongoing review and coordination is an important part of what we focus on during RECONNECT visits over the years.

Sometimes a second set of eyes can help bring clarity to areas that are harder to evaluate one piece at a time.

This content is provided for educational purposes only and is not intended as personalized financial, legal, or tax advice. Individual situations can vary, and decisions should be made based on your specific circumstances in consultation with appropriate professionals.

Most people assume that once they’ve created a will or trust, their estate plan is complete.

And to be fair, a lot of thoughtful work usually goes into those documents.

But here’s where things can get a little more complex…

Even when everything looks “right” on the surface, there can still be gaps beneath it.

In many cases, it’s not about whether someone has done planning—it’s about whether all the pieces of that plan are actually working together.

And one of the most common places this shows up is with beneficiary designations.

It’s Not Always About What’s Written in Your Will

Certain types of accounts don’t follow your will or trust at all.

Instead, they pass directly to the person listed as the beneficiary.

This often includes things like:

1. Retirement accounts (IRAs, 401(k)s)
2. Life insurance policies
3. Some bank and investment accounts, depending on how they’re titled

This structure is intentional. It allows assets to transfer directly to a named beneficiary.

But it also introduces a layer of complexity.

Because even if your legal documents are up to date…

Those accounts may still follow a completely different set of instructions.

Where Things Can Start to Drift

Most of the time, these issues don’t come from a lack of planning.

They come from planning happening at different times, in different places, without everything being reviewed together.

Over the years:

1. Accounts get opened
2. Beneficiaries get named
3. Documents get updated

Each decision may have made perfect sense at the time.

But without a coordinated review, small disconnects can begin to form.

And those disconnects aren’t always obvious.

Example #1: When Life Changes… But Beneficiaries Don’t

One situation that can come up is fairly straightforward.

A retirement account is set up years ago, and a beneficiary is named.

Over time, life evolves:

1. Family dynamics change
2. Financial priorities shift
3. Estate documents are updated

But that original beneficiary designation… never gets revisited.

The result?

An account may pass directly to someone who is no longer part of the intended plan, depending on how it’s set up—while the rest of the estate follows updated instructions.

Nothing was necessarily done incorrectly.

It just wasn’t revisited as everything else changed.

Example #2: Everything Is “Correct”… But Still Misaligned

In other cases, nothing is outdated or incorrect.

1. The will is current
2. Beneficiaries are filled out
3. Accounts are properly structured

On paper, everything checks out.

But the way these pieces interact can still create unintended results.

Different types of accounts can:

1. Transfer at different times
2. Be treated differently for tax purposes
3. Be distributed in ways that aren’t immediately obvious

Which can lead to situations where:

1. Some beneficiaries may receive assets in a different manner than others
2. Or distributions don’t fully match the original intent

These aren’t always errors.

They’re often just the result of multiple moving pieces that were never reviewed together as a whole.

Why These Gaps Often Go Unnoticed

Part of what makes this tricky is that most reviews happen in isolation.

1. Legal documents are reviewed on their own
2. Investment accounts are reviewed separately
3. Beneficiary designations may only come up when accounts are opened

So even well-prepared plans can develop gaps over time—without anything appearing obviously wrong.

A Better Question to Ask

Instead of asking:

“Do I have a will or trust in place?”

It may be more helpful to ask:

“Has everything been reviewed together as one coordinated plan?”

Because having the pieces in place…
and having them aligned…
are two very different things.

What’s Worth Revisiting

If this is something you haven’t looked at recently, a few simple questions can be a helpful starting point:

1. When were your beneficiary designations last reviewed?
2. Have there been any major life changes since then?
3. Do your accounts and documents reflect the same overall intent?

This isn’t about making immediate changes.

It’s simply about making sure everything is working together the way you expect.

Final Thoughts

For many people, the foundation of a good plan is already in place.

The opportunity isn’t to start over—it’s to make sure everything is aligned.

Because sometimes, it’s not the big decisions that create issues…

It’s the small details that were never brought together.

If you’ve been meaning to take a closer look at how everything fits together, this is one of those areas where a second set of eyes can often bring clarity.

This content is provided for educational purposes only and is not intended as personalized financial, legal, or tax advice. Individual situations can vary, and decisions should be made based on your specific circumstances in consultation with appropriate professionals.

What does all of this actually mean for my retirement plan?

In this month’s Matt’s Minutes, Matt Curfman, CFP®, CEO & Co-Owner of Richmond Brothers—with another special appearance from Oliver—shares perspective on recent market volatility, inflation concerns tied to oil prices, and why staying calm during uncertain periods continues to matter.

Timestamps

0:01 – Meet Oliver (and the reminder to stay calm)

0:33 – Geopolitical instability & oil prices

1:06 – Why rising oil prices matter to investors

1:41 – Inflation concerns & consumer spending concerns

1:58 – V-shaped market volatility explained

2:48 – Strong corporate earnings & AI investment discussion

3:41 – Midterm elections & ongoing uncertainty

3:59 – Supporting clients through every stage of retirement

4:34 – AE partnership & DocuSign updates

6:06 – Final thoughts & gratitude

(Full transcript below)

Video Highlights Geopolitical Headlines & Oil Prices

Matt discusses how geopolitical instability and concerns surrounding global oil supply routes have contributed to rising oil prices and increased market uncertainty.

Why Oil Prices Matter Higher oil prices can impact inflation, transportation costs, consumer spending, and overall market sentiment.

Market Volatility & Emotional Investing Periods of volatility can feel uncomfortable, especially for retirees and pre-retirees watching headlines daily. Matt reminds viewers that emotional reactions during uncertain periods can sometimes create more risk than the headlines themselves.

Staying Calm During Uncertainty With a lighthearted cameo from Oliver, Matt emphasizes the importance of staying grounded when markets become noisy and emotions start driving decision-making.

Coordinated Retirement Planning Matters Rather than reacting to every headline, Richmond Brothers continues focusing on coordinated retirement planning across income, investments, taxes, healthcare, and legacy planning.

Key Takeaways

Geopolitical headlines can increase market volatility Global conflicts and supply concerns often create short-term uncertainty in markets.

Oil prices can influence inflation and consumer costs Rising oil prices can ripple across transportation, goods, and broader inflation pressures.

Emotional reactions can create unnecessary risk Reacting emotionally during volatile periods can sometimes be more damaging than the headlines themselves.

No one can predict markets with certainty Short-term market direction remains unpredictable, especially during periods of geopolitical uncertainty.

Long-term planning still matters most Retirement planning should be built around long-term goals and personal comfort—not daily headlines.

Communication with your advisory team is important If your comfort level or concerns have changed, ongoing conversations with your advisory team matter.

Coordinated planning may help create confidence Income, investments, taxes, healthcare, and legacy planning all work together within a coordinated strategy.

Staying calm matters during uncertain periods Volatility is uncomfortable, but reacting emotionally can sometimes increase long-term risk.

In Closing

As Matt shared through Oliver’s calm demeanor at the beginning of the video, sometimes the best reminder during uncertain periods is simple:

Stay calm.

While headlines, oil prices, inflation concerns, and geopolitical events will continue to evolve, the goal is not predicting every market movement.

The goal is helping ensure your retirement strategy remains aligned to your goals, comfort level, and long-term vision.

At Richmond Brothers, we remain committed to helping educate, inform, and guide the families we serve through changing market environments.

Full Transcript

Hi, everyone. Matt Curfman from the Richmond Brothers, here with my Trusty market commentator, Mr. Oliver. He just really wants to make sure you guys are up to speed on everything going on in the world and what’s affecting your finances. Portfolios, investments, retirement accounts. And we are honored to be here to help support you. Aren’t we, Oliver? See how calm he is? That’s how calm we all need to remain in the midst of all of the noise that’s happening out there in the market. All right, buddy, thank you. Thanks for indulging me there. So I want to. We’re into early main. I want to talk a little bit about what we saw kind of coming out of the first quarter, late March and into early April. And then what we’re seeing. So, main headlines that we’re seeing. You hear geopolitical instability, which kind of ties into the Iran war, which leads to higher oil prices. You see oil volatility, but really that means prices are going up. Again, forgive me if I mispronounce this, but there was a lot of talk about the Strait of Hormuz being closed and which limited capacity for oil, again, causing prices to go up. So why does this all matter to you and I? It matters to you and I individually as it relates to your money, specifically, because if oil prices are higher, then going to the gas pump to fill up our cars is higher. Transporting goods around the country costs more. So as it costs more, that can lead to inflation and prices going up. From an individual standpoint, if we’re paying more every time we go to the pump to fill up, those have gas vehicles as opposed to electric, we’re basically spending more of our dollars at the gas pump, and we’re spending more of our dollars, as a, corporate society, to get products to consumers. And so that basically limits capacity for other things. So if inflation really happens because oil prices are higher and we live on a fixed income, most of us do, that eats into our spending power, and we’re going to be able to do less of other things. So that eventually could lead to economy slowing down, sorts of things. So the idea of derailing consumer risk appetite, possibly derailing consumer spending. So those are a lot of the headlines that we saw. So as each day went by, there’s, a lot of uncertainty, and ultimately, we ended up in what I refer to as V shaped markets. So literally, if you were to draw a V and then go look at the market charts for the broad indexes like The Dow, the NASDAQ, the S& P, just to name a few, you would have seen a little bit of growth. Then you would have seen headlines about oil prices going up, the Iran war, markets declined, decline, decline. Well, as they got, just below negative 10% year to date, or from their highs. What ends up happening is the White House then started to issue statements about trying to wind down the war, or two or three week ceasefires. And that allowed a little bit of breath and calmness back into the market. So again, I just want to talk about the things that are impacting your money and how we’re trying to help you navigate through that. One other piece then is corporate earnings have been pretty strong when you look year over year. So this year compared to last year, they’re running at almost 28% year over year, which is a pretty remarkable number. You know, I think in general if you’re running at 8 to 12, percent year over year, those are really good growth factors. So we are seeing corporate earnings going up and then that ties into the question of artificial intelligence, AI and corporations are spending a lot of money to try to get more efficient. They’re trying to build out data centers and all kinds of things. And there’s heavy, heavy talk about spending. The question remains, is the spending going to produce outcomes that allow corporations to get more efficient at what they’re already doing and allow businesses to keep moving forward? So that is a question. But those are headlines that will continue. And then last but not least, as we head into later parts of this year and starting in the summer, I’m sure we’ll start to see, a lot more politics with midterm elections coming up. So I don’t think uncertainty is gone. So our aim of course is just to continue to be your partner. We want to partner with you, along your financial journey. Whether that’s some of you are saving for and building for your retirement, which is not that far away. Some of you are just right on the edge of retiring. Some, Sally from our office just retired on May 1st and that was very public knowledge. So she would love, me sharing that. We, had a nice little send off for those of, we were able to see her on Friday, May 1, and some have already in retirement and they’re trying to manage the spending of their assets, through this craziness. So again we just want to be your partner in, along your financial journey and we’re grateful for that opportunity. Last but not least, lots of questions on our docusign and Kind of our expanded partnership with more and more strategies, proprietary and otherwise, through our partnership with ae, that’s been going really, really well. We really started sending out DocuSigns mid April, starting the day after tax filing deadline, April 16th. So at the day of this recording on May 5th, we’re running about three weeks into that. And just to give you some updates from an overall client perspective of all the households and families we work with, we are approaching, just about two, thirds, of all of the, dollars that we work with as a firm, have already gone through and asked questions and kind of worked through their docusigns. And so we’re really grateful for that. We are finding that some docusigns have gone to maybe a spam filter. So if you would just check your spam, folders in your emails, that would be great. If you still have questions or you’re wondering, hey, how does this impact me? We are here to support you, so Please just email questionsrichmanbrothers.com and myself, the advisory team, are happy to jump in and, and just talk through and answer any questions that you have. You’ll continue to get DocuSign reminders throughout the month of May, and then at the end of May, we’ll reassess where we are at with everyone. And we are, working behind the scenes to, upgrade allocations and looking at individual strategies, account by account, household by household, family by family, behind the scenes. So we are honored to be here to support you. We thank you for your continued support, partnership and trust and confidence. And as always, have a great start to your May and happy spring. From myself and all of us at Richmond Brothers, thanks for tuning in.

The commentary in this video reflects the personal opinions, viewpoints and analyses of Richmond Brothers employees, and should not be regarded as advisory services provided by Richmond Brothers, and are subject to change at any time without notice. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Past performance is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. Richmond Brothers, Inc. does not provide tax advice.

It’s never been easier to come across financial advice.

Even if you’re not actively looking for it, it has a way of showing up, whether through a quick scroll, a video someone shared, or a headline that catches your attention. You might hear about a new retirement strategy, see a “can’t-miss” opportunity, or come across someone confidently explaining what others should be doing with their money.

We’ve had a number of conversations lately where someone says, “I saw something about this… and I’m not sure what to make of it.” And honestly, that’s a very normal place to be.

Because while some of that information can be helpful, not all of it is designed with your situation in mind. Convenience and clarity aren’t always the same thing.

Why This Matters More in Retirement

During your working years, there’s often time to adjust course if something doesn’t go as planned.

In retirement, decisions can carry more weight. There’s typically less opportunity to recover from missteps, and more importance placed on making sure each decision fits into the bigger picture. That doesn’t mean tuning everything out, it simply means being a bit more intentional about how you filter what you’re seeing and hearing.

So How Do You Make Sense of It?

Here are a few things we tend to walk through in conversations when this comes up:

1. Not Everything That Trends Is Thoughtful

Online content is often designed to capture attention. That can mean bold claims, simplified strategies, or emotionally charged ideas rise to the top. Over time, it can create the impression that “everyone” is moving in a certain direction, even when that may not reflect a thoughtful or long-term approach.

For example, someone nearing retirement might come across a trending investment idea and feel pressure to act quickly—without fully understanding how it fits into their income needs, tax situation, or overall plan. Events like the GameStop short squeeze showed how quickly online momentum can influence behavior, even when the underlying situation is complex.

2. Visibility Isn’t the Same as Credibility

A large following or polished presentation doesn’t necessarily mean someone is qualified. Many financial “influencers” share simplified strategies or highlight best-case outcomes, often without showing the full picture or the trade-offs involved.

Research from the Financial Planning Association suggests that while younger investors are more likely to rely on social media for investment ideas, older investors are still increasingly exposed to this type of content even if they’re not actively seeking it. Over time, that exposure alone can begin to shape perception.

3. Simplicity Can Sometimes Hide Complexity

Some strategies are presented as quick wins or easy solutions, but in many cases, the details matter more than they first appear.

A strategy that looks appealing on the surface may carry tax implications, income trade-offs, or long-term risks that aren’t immediately obvious in a short video or post. According to the Pew Research Center, more older adults are spending time on digital platforms where this type of content is shared, making it easier for ideas to spread, regardless of how complete or accurate they are.

As you think about this, it may be worth asking yourself: Have you come across something recently that made you pause or second-guess a decision?

A Different Way to Think About Financial Information

None of this means online information is inherently bad. It can be a helpful starting point, introduce new ideas, and even encourage people to be more engaged with their finances.

But it may be more helpful to think of it this way:

Use it as a source of awareness—not a source of direction.

In our experience, the most important financial decisions aren’t about reacting quickly; they’re about making sure everything is working together in a way that supports your goals over time. Much of what you see online is designed to capture attention, which doesn’t always align with that kind of thoughtful coordination.

Bringing It Back to What Matters Most

Financial decisions, especially in retirement, are rarely about just one thing. They often impact multiple areas at once, including income planning, investment strategy, tax efficiency, healthcare considerations, and long-term legacy goals.

These are personal decisions that can’t be fully addressed in a general post or a trending video, and that’s okay. It simply means that what works well for someone else may not always translate cleanly to your situation.

A Quick Note—Because This Matters

You may be reading this online too.

The goal here isn’t to replace one source of information with another, or to suggest that one perspective is inherently better than another. It’s simply to help you think more clearly about the information you’re already seeing, so you can make decisions that actually fit your life.

Because in the end, it’s not about finding the “right” article or the “best” advice, it’s about making sure what you do next makes sense for you.

A Thoughtful Next Step

If you’ve come across ideas and found yourself wondering how they apply to your situation, you’re not alone. These are the kinds of conversations we have every day.

If it would be helpful, our team offers a complimentary 20-minute clarity call: a chance to ask questions, share what you’ve been seeing, and explore how it fits (or doesn’t fit) into your overall picture.

There’s no obligation—just a conversation.

This material is provided for informational and educational purposes only and should not be construed as personalized investment, tax, or legal advice. Individual circumstances vary, and decisions should be made in coordination with your financial, tax, and legal professionals.

Sources & References

• Financial Planning Association. How Social Media Influences Financial Behavior.
  https://www.financialplanningassociation.org/article/journal/APR23-how-social-media-influences-financial-behavior
• Pew Research Center. Social Media Fact Sheet.
  https://www.pewresearch.org/internet/fact-sheet/social-media/
• Pew Research Center. Social Media Use in 2024.
  https://www.pewresearch.org/internet/2024/01/31/social-media-use-in-2024/
• Investopedia. Herd Behavior.
  https://www.investopedia.com/terms/h/herdbehavior.asp
• Federal Reserve Bank of Kansas City. How Social Media Influences Household Finance.
  https://www.kansascityfed.org/research/economic-bulletin/how-social-media-influences-household-finance/

One area where small missteps can have lasting effects is how retirement accounts are handled. Some of these decisions can’t easily be undone, which is why taking a little time to understand your options upfront can make a meaningful difference.

Whether you’re navigating this now or simply want to be prepared, here are a few key areas to be aware of.

What Makes Spousal Beneficiaries Different

When a spouse inherits an IRA, they have options that other beneficiaries don’t.

These choices can affect:

• When withdrawals begin
• How the account is taxed
• What happens to the account over time

Because of this added flexibility, it’s worth understanding your options before making any decisions.

1. Make Sure Accounts Are Properly Divided

If an IRA includes multiple beneficiaries—such as children and a surviving spouse—the account may need to be split.

This typically must be done by December 31 of the year following the original owner’s death.

When handled correctly, each beneficiary can follow their own distribution rules. If not, options may become more limited later.

These options are most flexible when the surviving spouse is the sole beneficiary, though they can often still be preserved with proper account setup.

For example: if the account isn’t split in time, all beneficiaries may be required to follow the same distribution schedule—even if their situations are very different.

2. Understand the Option to Remain a Beneficiary

You don’t have to immediately move the IRA into your own name.

By keeping it as an inherited account, you may be able—depending on your situation—to delay required minimum distributions (RMDs) and allow the account more time to grow.

This typically involves keeping the account properly titled as an inherited IRA.

In some cases, this option can also provide penalty-free access to funds before age 59½, which may be helpful depending on your needs.

3. Know When a Spousal Rollover May Make Sense

At some point, many surviving spouses choose to move the IRA into their own name. This is called a spousal rollover.

Once completed, the account follows the same rules as your own IRA—including when RMDs begin and how beneficiaries are treated.

For those who are younger, staying in an inherited IRA for a period of time may offer more flexibility. Later on, a rollover may simplify things and better align with long-term planning.

It may also provide future beneficiaries with more flexibility in how distributions are handled.

A Simple Example

Let’s say someone loses their spouse at age 58 and inherits an IRA.

If they immediately roll the account into their own IRA, any withdrawals before age 59½ could be subject to a 10% early withdrawal penalty.

But if they keep the account as an inherited IRA, they may be able to access funds without that penalty during that time.

Once they reach 59½, they could then choose to complete a rollover and simplify the account structure.

That one timing decision—rollover now vs. later—can meaningfully impact flexibility and taxes.

4. Don’t Forget to Update Beneficiaries

This step is easy to overlook—but important.

If no new beneficiaries are named, the IRA may pass through your estate. That can lead to:

• Shorter payout timelines
• Potential probate involvement
• Added complexity for your family

A quick review here can make a meaningful difference later.

5. Consider Whether a Disclaimer Is Appropriate

In some situations, a surviving spouse may choose not to accept part (or all) of the IRA.

This is called a disclaimer.

When done correctly, the assets pass directly to contingent beneficiaries, such as children. This can be helpful in certain planning situations, but it must follow specific rules and timelines—so it’s something to think through carefully before making a decision.

A Thoughtful Approach Matters

There isn’t a single “right” way to handle an inherited IRA.

The best choice depends on your age, income needs, tax situation, and long-term goals.

If you’re navigating this, it may help to:

• Take a little time before making irreversible decisions
• Review how accounts are titled
• Make sure beneficiary designations are up to date

Even small decisions here can shape outcomes over time.

If You’re Unsure What Applies to You

If you’re not sure how these rules fit your situation, you’re not alone. These decisions can feel complex—especially during an already difficult time.

If it would be helpful to talk through your options or get a second set of eyes on your situation, we’re here for you. We offer a complimentary 20-minute clarity call to walk through what applies to you and what next steps may make sense.

Sources & References

• Internal Revenue Service. Retirement Topics – Beneficiary and Required Minimum Distributions (RMDs)
• IRS Publication 590-B. Distributions from Individual Retirement Arrangements (IRAs)
• Publication 590-B (Full PDF) https://www.irs.gov/pub/irs-pdf/p590b.pdf
• Retirement Plans FAQs Regarding Required Minimum Distributions (RMDs)
• Ed Slott and Company. Avoiding Spousal Beneficiary Mistakes in 5 Easy Steps

This material is provided for informational and educational purposes only and should not be construed as personalized investment, tax, or legal advice. Individual circumstances vary, and decisions should be made in coordination with your financial, tax, and legal professionals.

For many people, a tax refund feels like a bonus—extra money that shows up just in time to be spent, saved, or invested.

But a refund isn’t really a windfall—it’s your money being returned after you’ve paid more in taxes than necessary throughout the year.

When viewed this way, your refund can offer useful insight into how your overall financial and tax strategy is working—and where there may be opportunities to improve.

What a Large Refund May Be Telling You

A large refund often means that too much was withheld from your income during the year. While some people prefer this as a form of forced savings, others may benefit from having more control over that money throughout the year.

Rather than focusing only on how to use the refund, it may be worth asking a broader question:

Is your tax strategy aligned with your overall financial plan?

If You’re Still Working

If you’re still earning income, a tax refund can be an opportunity to strengthen your retirement savings.

One option may be contributing to an IRA or Roth IRA. These accounts can provide tax advantages, depending on your situation.

It’s important to keep in mind:

1. IRA contributions generally require earned income (such as wages or self-employment income)
2. Eligibility for Roth IRA contributions is subject to income limits
3. Contribution limits also apply and may change from year to year

Because these rules can vary based on your circumstances, it may be helpful to review your options with a financial advisor or tax professional before making a contribution.

If You’re Retired

For many retirees, the story is different.

If you’re no longer earning income, a tax refund typically isn’t about missed savings opportunities—it may be a sign that too much is being withheld from sources such as:

1. Pension payments
2. IRA or other retirement account distributions
3. Social Security benefits

In many cases, withholding is set conservatively to avoid underpayment—but over time, this can lead to larger-than-necessary refunds.

A large refund could indicate that your withholding elections may need to be revisited.

Instead of waiting for a refund each year, adjusting your withholding may allow for more consistent cash flow throughout the year.

Looking Ahead

Whether you’re working or retired, your tax return can serve as a useful checkpoint.

A thoughtful review of your:

1. Income sources
2. Withholding elections
3. Distribution strategy

may help ensure your plan is working as intended.

This type of review can be especially valuable heading into a new tax year when adjustments can be made proactively rather than retroactively.

A Different Way to Think About Your Refund

A tax refund is more than just a check—it’s a signal.

For some, it may highlight an opportunity to increase savings. For others, it may reveal inefficiencies in how taxes are being withheld.

In either case, taking a closer look can help you better align your tax strategy with your broader financial plan.

Taking the next step

If you’ve been thinking about how everything fits together- income, taxes, and timing, it may be worth having a conversation.

We offer a short Clarity Conversation to help you step back, look at the bigger picture, and see how all the pieces are working together—no pressure, just (let’s remove no pressure) simply a chance to explore what makes sense for you.

This material is provided for informational and educational purposes only and should not be construed as personalized investment, tax, or legal advice. Individual circumstances vary, and decisions should be made in coordination with your financial, tax, and legal professionals.

Sources

1. Internal Revenue Service (IRS). Retirement Topics – IRA Contribution Limits. https://www.irs.gov/retirement-plans/ira-contribution-limits
2. Internal Revenue Service (IRS). Do I Qualify for a Roth IRA? https://www.irs.gov/retirement-plans/roth-iras
3. Fidelity Investments. Roth IRA Income Limits. https://www.fidelity.com/learning-center/smart-money/roth-ira-income-limits

At Richmond Brothers, we believe the little moments matter—being greeted by name, feeling welcomed when you walk in, and knowing there’s a real team here who cares about you.

That’s why we’re excited to introduce you to someone many of you will be seeing—and hearing from—more often.

Meet Aubrey

Aubrey is a Jackson native who recently joined our team as our First Impressions Specialist, a role focused on helping ensure every interaction with our team feels smooth, welcoming, and personal.

Whether you’re calling in with a quick question or coming into the office for a visit, Aubrey is often your first point of contact—and she genuinely cares about making that experience a positive one.

While she’s spent time living in both Florida and North Carolina, she’s happy to be back home and part of the local community again.

Aubrey studied business at Jackson College and brings a strong background in customer service and retail management—including time spent working at Disney World and Universal Studios in Orlando. During her time in North Carolina, she worked at a plant nursery, where she discovered her passion for creating positive, well-organized experiences for the people she serves.

She was also drawn to Richmond Brothers because of the opportunity to be part of a team that values building relationships and giving back to the local community.

Aubrey’s natural warmth, attention to detail, and care for others make her a great fit for our team—and for the experience we strive to create for every client family.

When she’s not in the office, Aubrey enjoys painting and spending time outdoors—especially hiking and camping—with her husband Cody (her high school sweetheart) and their two-year-old daughter, Adaline.

We’re grateful to continue growing our team in a way that allows us to provide the level of care and attention you deserve.

If you’re in the office soon, we hope you’ll have a chance to meet Aubrey in person—or connect with her the next time you call in.

And as always—thank you for being part of the Richmond Brothers community. It’s something we don’t take for granted.