You’re not alone in this struggle. With so many distractions, it’s easy to lose focus on what really matters for financial stability—sticking to a budget. That’s where the YNAB app comes in.

YNAB (You Need a Budget) helps you break free from that never-ending cycle of overspending. Regardless of your earnings, the YNAB app keeps you on track and makes sure your spending aligns with your financial goals. It helps you look ahead and plan your finances so you can stay in control.

YNAB Is More Than a Budgeting App 

Budgeting isn’t exactly the most exciting topic. It’s tempting to think about all the things you could buy or experiences you could have instead of worrying about numbers. But, budgeting is just part of adult life, and those numbers aren’t going away. As the saying goes, “A penny saved is a penny earned.” So, planning and accounting for your spending is an important part of managing your money wisely.

Here’s the irony: Why pay for a budgeting app when all it promotes is budgeting? Why not just save that subscription money and budget yourself?

YNAB’s Unique Approach to Money Management 

However, the YNAB app is more than a budgeting app. We conducted a YNAB app review to help share the ins and outs of this popular app. While there are a variety of budgeting and finance apps that can work for different people, YNAB has some unique aspects to money management. This app is:

• Customizable to fit your unique financial situation
• A finance planner focused on achieving your financial goals, not just tracking expenses
• Empowering, helping you turn financial challenges into opportunities

A Practical Tool for Zero-Based Budgeting 

One powerful benefit is that the YNAB app uses the zero-based budgeting (ZBB) system. If you’re not familiar with it, don’t worry—it’s easier than it sounds. The app simplifies zero-based budgeting with its first rule: “Give Every Dollar a Job.”

So, how does this work in real life? With zero-based budgeting, you assign every dollar you earn to a specific task. Let’s say you’re paying bills, buying groceries, adding to your savings or treating yourself to dinner. Each dollar is assigned to a particular task or spending bucket. YNAB’s method ensures no money is left sitting around or spent on a whim. Instead, you plan and decide exactly where each dollar will go before spending. This keeps you in control and assures your money is working for you.

This method helps you move from reacting to your expenses to actively managing your money. Instead of being surprised by unexpected costs or wondering where your money went at the end of the month, you’re taking control so your spending aligns with your goals.

What Are YNAB App’s Key Features?

By now, you might be wondering what features really set this tool apart and make it worth the investment. The YNAB app is worth considering for its unique features. Here are some key elements that make YNAB a powerful money management tool. 

Real-Time Syncing

With YNAB, everything you need is at your fingertips wherever you are. You can sync your phone, tablet and computer so they stay updated with your latest transactions and adjustments. If you’re out and about and want to make a quick purchase, you can update your budget on the spot. No more waiting until you get home or worrying about forgetting expenses.

To make managing finances even more enjoyable, YNAB Together lets you team up with your partner or family. Instead of handling everything solo, everyone gets their own secure account to create, plan and tweak budgets. You’ll stay updated in real time, and if you want, you can share your budget with family members. This ensures everyone is on the same page, leading to more open and positive conversations about money.

This feature helps beyond just planning finances. It can also help turn financial management into a collaborative and positive process.

Goal Tracking

Just like a runner needs to stay on course to reach the finish line, tracking your financial goals is key to achieving financial success. The YNAB app’s goal-tracking feature helps you clarify what you want and keeps you focused on making it happen.

You can set clear priorities so you can see precisely how much you need to save and how close you are to achieving your personal budgeting goals. No more guessing or guilt—just a straightforward plan for your money.

Tracking your progress becomes easy with visual cues, like color-coded bars that show how close you are to reaching your goals. Whether saving for a down payment on a house, planning a dream vacation or putting aside money for an emergency fund, this tool lets you adjust your savings targets as needed. And if life throws you a curveball, you can pause your goals without stress and pick up right where you left off. This way, you’re always moving forward, building healthy habits and turning your financial dreams into reality.

Detailed Reporting

Understanding how you spend your money is critical to managing your finances, and YNAB’s detailed reporting feature makes it easy.

Here’s how the YNAB app’s reports help you stay on top of your financial game:

Net Worth Report

Think of this report as a snapshot of your financial health over time. It tracks the balance between what you own (like savings and investments) and what you owe (like credit card debt or loans). For instance, seeing your credit card balance decrease while your savings increase can be incredibly motivating. It shows you’re making progress and that your budgeting efforts are paying off. This report helps you visualize how far you’ve come and encourages you to keep pushing toward your bigger financial goals.

Spending Report

This gives you a detailed breakdown of your expenses. You can see exactly how much you’re spending in different categories (like groceries, dining out, or entertainment), across various accounts (such as your checking account or credit cards), and over different time periods (like this month or the past year). This breakdown helps you identify spending patterns, spot areas where you might be overspending and adjust your budget to save more or better allocate your funds.

Income vs. Expense Report

This report shows how your income stacks up against your spending. It gives you a clear view of whether you’re earning enough to cover your expenses or if you need to make adjustments. This clear comparison shows how your income measures up to your spending and lets you see just how well you’re sticking to your budget.

Age of Money Report

This shows how many days, on average, your money sits in your budget before you spend it. It gives you a clear view of your cash flow and helps you understand your financial stability. For instance, if you see your money sitting around longer, it means you’re getting better at managing your finances and can handle unexpected expenses more comfortably.

These reports help you easily identify areas for improvement. They can pinpoint where to focus your efforts and help you take actionable steps to enhance your financial health. This approach makes it simpler to set clear goals, monitor progress and make adjustments, as needed, to stay on track with financial plans.

The YNAB Method: Four Rules to Financial Success

To fully understand how the YNAB app and its budgeting system work, it’s helpful to understand its method. The approach demonstrates that budgeting doesn’t have to be a rigid, one-size-fits-all system. Instead, YNAB’s rules guide you in creating a personalized budget that fits your unique life situation.

Let’s explore these four essential rules and see how they can reshape your approach to budgeting and lead you to financial success.

Rule 1: Give Every Dollar a Job

It might sound a bit far-fetched, but it’s actually quite simple. Think of your money as players on a sports team. Each player (or dollar) needs a specific position and role to contribute to the overall game plan.

Instead of letting your money drift without purpose, assign each dollar a clear task or category—whether paying the bills, saving for that dream vacation, or treating yourself to something special. This way, when you spend, you’ll know exactly how every dollar is helping you reach your financial goals.

This ensures you’re not just managing your money but aligning your spending with your financial goals. No need for extra funds or surprises—just a clear plan, where every dollar has a purpose.

Rule 2: Embrace Your True Expenses

Life is full of surprises, and it’s important to be ready for the unexpected twists. When you’re budgeting, it’s easy to get caught up in the usual monthly stuff, like streaming services, groceries and your daily coffee runs. But the real challenge is handling those surprise costs, like a sudden home repair or an unforeseen holiday expense. Without any preparation, this surprise can throw your budget off balance.

Rule Two suggests setting aside money each month for these irregular but significant expenses to avoid this. Gradually saving for these expenses prepares you for when they arise, helps to keep your budget on track and sidesteps unexpected financial stress.

Rule 3: Roll With the Punches

Flexibility is key in any budget. Life is unpredictable, and sometimes our priorities shift or unexpected expenses surface. The YNAB method encourages you to adapt your budget as needed. If something unanticipated comes up, like a flash sale at your favorite boutique or a last-minute weekend getaway with friends, don’t stress.

Instead, adjust your budget by reallocating funds from less urgent categories. For example, if you’ve set aside money for dining out but then decide to join your friends for a quick trip out of town, you might trim your dining budget for the month to cover the travel costs. Rolling with the punches means your budget evolves with your life, acting as a flexible tool that adjusts to new priorities and unforeseen events rather than a strict set of rigid rules.

Rule 4: Age Your Money

The goal is to make your money last longer, so you’re not just scraping by from one payday to the next. Imagine getting to a point where you’re spending money that’s been sitting in your account for a while. This means creating a financial cushion so your current income is set aside to cover next month’s expenses, giving it time to “age” before you use it.

Start by saving up and gradually building a buffer of one month’s expenses. As you follow the other YNAB rules, you’ll find yourself spending the money that’s been in your account for a while rather than waiting for your next paycheck to cover your immediate needs. This shift allows you to plan ahead, reduces financial stress and gives you the freedom to make better financial decisions without the pressure of living from one paycheck to the next.

The YNAB Community

YNAB understands the impact of community, which is why it makes it easy for users to connect. They’ve created a vibrant network, where YNAB app enthusiasts can come together, share experiences and support one another on their financial journeys.

With a range of platforms and resources at your fingertips, like YNAB webinars, you can easily find tips, inspiration and friendly advice from fellow users who are just as invested in the YNAB method as you are.

To connect on social media, check out Facebook groups or Reddit’s active subreddits, like r/YNAB. These platforms make it easy to join conversations, find motivation, and get practical advice from fellow budgeters.

To make things even easier, YNAB has its own YouTube channel packed with budgeting tips. You can also find other channels dedicated to YNAB that offer tutorials and personal budgeting stories, giving you both inspiration and practical insights from real users.

And if you’re feeling confident, you might even consider teaching others about YNAB’s rules and how to make the most out of budgeting.

How Can Using the YNAB App Help Financial Growth and Self-Improvement? 

YNAB has shown itself to be a powerful tool for anyone looking to make the most of their financial life, but it goes even further. It’s also great for helping you build a healthier relationship with money by:

• Shifting your perspective on expenses: YNAB changes how you view expenses. Instead of seeing them as burdens, you start seeing them as proactive steps to avoid future debt.
• Changing your financial mindset: The YNAB app takes the stress out of managing every penny. With its four rules, you’ll align spending with your goals and values, allowing you to enjoy your choices without guilt. Budgeting becomes a positive, everyday habit, which helps you feel more in control and less anxious about money.
• Helping you become confident about saving: YNAB boosts your confidence in saving. It lets you set money aside with certainty to focus on what matters most without second-guessing your choices.

Boost Your Budgeting Skills With the YNAB App  

It’s perfectly fine if you don’t have everything figured out right away. That’s exactly how this tool can help. With its four rules, you can tweak your plans and make budgeting work. Progress takes time, and you’ll get there eventually.

Exploring the YNAB app yourself is essential to grasp how it works. The hands-on experience will reveal how easy it is to navigate and how it can aid in achieving financial control. Mastering your finances is crucial for long-term success, and YNAB is designed to help you reach that goal. Sign up today for the free 34-day trial to start diving into your budget.

YNAB App Frequently Asked Questions (FAQs)

How Do I Begin Using YNAB? 

Start by deciding you need a budget. Use YNAB’s resources, such as YouTube videos, live workshops or the Ultimate Getting Started Guide, to get a handle on the basics.

Is the YNAB App Free?

No, the app isn’t free. They offer a free 34-day trial, which gives you enough time to see if it’s a good fit for you. After that, there’s a subscription fee, but many users find the cost is worth it for the budgeting tools and financial insight YNAB provides. You can pay monthly or choose an annual subscription for a discounted cost. 

What Are the Pros and Cons of YNAB?

Pros:

1. YNAB encourages intentional spending by making you actively approve transactions and adjust your budget as needed.

2. The app is highly customizable, which allows you to tailor almost every aspect of your budget to fit your needs.

3. YNAB offers strong educational support with tutorials, live sessions and a helpful community to guide you.

Cons:

1. The YNAB app has a steep learning curve, especially for users new to its unique budgeting approach.

2. The app is not free and requires a subscription, which might be a drawback compared to other free budgeting tools.

3. It lacks features like detailed investment tracking and bill paying, so you might need additional tools for complete money management.

How Much Does YNAB Cost?

YNAB is $14.99 per month, with the flexibility to cancel anytime. If you prefer an annual plan, it’s available for $109 per year.

What Does the YNAB App Do?

YNAB gives you control over your money. It’s designed to help you plan ahead, so you’re not just reacting to financial surprises. YNAB helps you be more intentional with every dollar you earn, so you can break free from the paycheck-to-paycheck cycle and start making progress toward your financial goals.

This article was updated August 2025. Photo by Olha Povozniuk/Shutterstock.com

The post YNAB App Review: How This Tool Helps You Take Control of Your Budget appeared first on SUCCESS.

Hiring a financial advisor is a prudent way to have an expert look over your financial situation and make recommendations, balance your stock portfolio or simply guide your financial actions towards better decisions. 

If you’re thinking of hiring a financial advisor, understanding their role is the first step in deciding to work with one. We’ll detail what a personal financial advisor does, questions to ask, how to pick one and much more below.

What Is a Financial Advisor?

A financial advisor is a professional who is trained to help individuals, families and/or businesses make the best financial choices they can given their situation. This typically means offering advice on investments, mortgages, financial planning, risk tolerance levels and big financial decisions. 

A financial advisor also recommends certain investments based on your life goals, familial (e.g. married, single) and financial situations. They can also help with estate planning and budgeting. In short, a financial planner is a financial educator, guide and accountability partner. 

Although the term financial advisor may sound like a catch-all phrase, some specialize in different areas such as financial risk management or retirement strategies. Financial advisors typically work with businesses, individuals and families and may have asset requirements for you to work with them. 

Financial Advisor vs. Financial Planner: What’s the Difference?

All financial planners are financial advisors, but not all financial advisors are financial planners. 

A financial advisor is someone who, broadly speaking, helps you manage your money. This is done by buying and selling investments for you, offering advice on your financial health or creating estate or tax plans. Someone can only be called a financial advisor if they have passed the Series 65 Exam administered by FINRA. Though a financial advisor is a broad role, individual advisors may come from different backgrounds or have different specialties, such as insurance or mortgage advice. 

A financial planner, however, is someone who helps consumers and businesses create and follow through on financial strategies to help them accomplish their goals. These could be goals focused on saving, education, retirement, or tax planning, among others. It’s important to note that FINRA states that almost anyone can call themselves a financial planner, and they come from a variety of backgrounds. That said, a common designation to watch out for is the Certified Financial Planner (CFP) marker. Someone with this designation has passed the CFP Exam and meets other rigorous qualifications. 

When choosing between the two, keep in mind that there are instances where a financial planner or a financial advisor would be the better hire. Generally, if you need assistance with creating financial goals and coming up with a financial plan, use a financial planner. If you want advice on investments, to have someone manage your portfolio or to advise you on insurance or mortgage decisions and the like, a financial advisor may be a better fit. 

Key Financial Advisor Duties and Services

What can financial advisors do for you? Now that we’ve outlined the role of a financial advisor, let’s review their core responsibilities and duties. 

Manage Your Investments 

A financial advisor can help you manage your investments from start to finish. They will typically ask questions about your risk tolerance level to get an idea of what types of investments (e.g. stocks, bonds, mutual funds) fit your profile. They’ll also compare these investment types to your overall goals to make sure they line up. 

Once they’ve created a portfolio for you, they will continually manage it to meet your goals and give you advice during turbulent market periods. An advisor also rebalances your portfolio so you don’t incur too much—or not enough—risk based on your risk profile. 

Help Minimize Your Tax Liabilities

Because an advisor has a detailed picture of your entire financial life, they can provide tax advice to help you or your business reduce your tax bill. Some advisors may also file your tax returns for you, too. Note that financial advisors who offer tax-related services typically have tax professional designations such as Certified Public Accountant or Enrolled Agent. 

Provide Retirement Planning Advice 

By analyzing your income levels, retirement goals, spending patterns, savings and other financial markets, an advisor can help you plan for retirement in a way that suits your needs. They’ll also regularly meet with you to update your retirement plan as your life goes on or if your priorities change. 

Help With Estate Planning

Usually working with an estate attorney, a financial advisor can help you create an estate plan that fulfills your wishes and takes care of those you love most when you’re gone. In practice, this could mean assisting with the creation of a living trust, preparing payable on death forms for insurance or updating your beneficiaries on your insurance plans. 

Assist You in Paying off Debt

In addition to helping you save or invest, a financial planner can also help you pay off and manage your debt. This is done by creating a debt payment plan and potentially restructuring the debts you currently have. In some cases, they may advise you to start a debt management plan. 

Help Create a Budget

While you can create a budget on your own, an advisor can help you see patterns in your spending habits, allowing you to focus on reducing unnecessary costs. They’ll also create a budget that matches your overall financial goals and objectives. 

How Much Does a Financial Advisor Cost?

When it comes to choosing a financial advisor, cost should be one of the factors you take into account. Financial advisors are paid in multiple ways, which can seem confusing at first. Here’s a breakdown of how a financial advisor may charge you and their general costs. 

• Assets under management (AUM) fee: An AUM fee is a percentage of the total value of the investments your advisor manages for you, charged on an annual basis. A typical AUM fee is anywhere from 0.6% to 1.2% and may be higher depending on your situation. For example, if you have $100,000 of investments with an advisor that charges a 1% AUM fee, you would pay $1,000 per year. 
• Hourly rates: Advisors may charge an hourly rate of $100 to $400 an hour depending on the type of work required. 
• Flat fees: For work that is easier for an advisor to estimate, they may use flat fees to charge clients. For example, an advisor might charge $1,000 for a simple budgeting plan or savings plan. But a comprehensive retirement and estate plan could be closer to $2,400. 
• Commission-based fees: Some advisors may not have any fees upfront, but instead earn a commission on the types of products they sell (e.g. insurance, certain mutual funds). 

It’s important to note that advisors usually operate under two different fee structures: fee-only and fee-based. Fee-only advisors do not charge commissions on any products they recommend as part of their services, but they do charge fees like other ones we noted above.

Fee-based advisors do earn a commission on the investments or products they recommend to you, potentially in addition to other fees such as their AUM or hourly rate. 

How to Find a Financial Advisor

When picking a financial advisor, it’s important you find someone you can trust first and foremost. After all, you don’t talk to just anyone about your finances, especially in great detail. 

Finding a trustworthy advisor can be done in many different ways, but asking those around you who have used an advisor is usually a good first step. They can give you insights that online reviews and research sometimes cannot (e.g. how an advisor treats their clients). 

You can also easily find an advisor online by searching through various associations, such as: 

• The National Association of Personal Financial Advisors (NAPFA) 
• Garrett Planning Network
• XY Planning Network
• Alliance of Comprehensive Planners (ACP) 

Once you have an advisor in mind, make sure to check their background, history and any potential disciplinary actions with FINRA’s BrokerCheck. This service can give you a quick peek into a broker’s practice. 

Fiduciary vs. non-fiduciary advisors

When deciding on an advisor to work with, make sure to ask them if they are a fiduciary advisor. A fiduciary is someone who is legally obligated to act in your best interests. While a non-fiduciary advisor may still recommend plans and investments that are a good choice, they are not bound to do so. In some cases, it’s better to go with a fiduciary as trust is baked into the relationship by a legal duty. 

Questions to Ask a Financial Advisor

A key part of finding the best financial advisor for your situation is the interview process. Here are some questions you can use to help steer you in the right direction. Remember, trust is critical when hiring anyone who advises you. If you have some reason not to trust a potential advisor before you hire them, that’s a red flag. 

• What services do you offer and how can they help me with my financial goals?
• How do you charge for your services (fee-only or fee-based)?
• Can you provide references or case studies of clients you’ve worked with?
• What is your approach to financial planning and how do you make decisions?
• Are you a fiduciary? 
• What are my total costs if I work with you? 
• What is your educational background?
• Do you work with other experts, such as accountants, lawyers, etc.? 
• How often do you meet with your clients? 

Are Financial Advisors Worth It?

If you’re wanting to level up your personal finances without doing the research, portfolio rebalancing, financial goal setting and retirement planning on your own, a financial advisor could be a good fit. While financial advisors do come with a cost, having professional guidance for the long term can pay dividends for years to come. 

Photo by PeopleImages.com – Yuri A/Shutterstock.

The post What Does a Financial Advisor Do and How Can They Help You Manage Your Finances? appeared first on SUCCESS.

The obsession with elite schools has hit a fever pitch. Ivy League institutions, for example, receive exceptionally high numbers of applications each year—even from students who may not have any intention of attending them. Why? Because prestige sells. It sells to our parents, to our peers, and most sneakily, to ourselves.

But if you’re helping someone in your life, whether a younger sibling, a mentee, or even yourself, navigate the college decision process, it’s worth asking: Is the goal to pick the right education, or just the right logo?

Prestige Is Psychological

Brands don’t exist by accident. They’re a psychological shortcut—our brain’s way of saying, “This must be good, because it’s familiar and admired.” That same mechanism that makes you reach for the well-known tech brand or athletic shoe applies just as strongly to educational institutions.

We’re wired for social validation. Attending a prestigious school delivers that quick dopamine hit when someone reacts with, “Wow, you got in there?” But the power of that validation often masks deeper considerations: actual program quality, learning environment and long-term compatibility. Family pressure, peer influence and social media only intensify this bias. A school’s perceived status can quickly become more important than its actual fit for your goals.

What Actually Makes a College Right for You?

Let’s refocus. Forget for a moment about rankings, prestige, or how impressive the school looks in your Instagram bio. Ask instead: What do I need from a college experience to thrive?

Start with program relevance. A school’s name won’t land you a job if it didn’t prepare you for the field you want to enter. Whether it’s business analytics, nursing or design, the curriculum should match your career interests and offer hands-on opportunities.

Then consider the learning environment. Do you benefit from small class sizes where professors know your name? Is mentorship available? Will you get real-world experience before graduation?

And don’t ignore cultural fit. College isn’t just an academic choice; it’s a four-year environment that shapes your habits, values and identity. Are you building a life that feels authentic, or just one that looks good on paper?

Prestige Doesn’t Guarantee ROI

It’s time to get honest about return on investment. That shiny diploma from a brand-name school might come with six figures of student loan debt. Is that sustainable for you or your family?

Some of the most successful professionals you admire likely graduated from schools you’ve never heard of. Why? Because success has more to do with what you do during college than where you do it. Initiative, internships, connections and hustle all outweigh the logo on your sweatshirt.

Ask yourself this: If no one ever knew where I went to school, would I still want to go there?

Cutting Through the Hype

To make a decision based on value instead of vanity, challenge yourself with better questions. There are many things to consider when choosing a college that go beyond name recognition.

1. Would I attend this school if no one else knew I went there?
2. Does this program prepare me for the job I actually want—not just a vague idea of success?
3. Do I feel comfortable and energized by the campus and community?
4. Will I have access to support systems like mentorship, tutoring or counseling?
5. Can I graduate without being buried in debt?

Use these questions to create your own value-driven checklist. Tour campuses not just for their brochures and buildings, but to observe interactions, sit in on classes, and talk with real students. Look beyond the marketing and into the experience itself.

Redefining What Success Looks Like

Choosing a college shouldn’t feel like picking a designer label. Rather, it should feel like choosing a launchpad. And launchpads come in all shapes and sizes. While some are big-name institutions, others are quietly powerful programs at schools that put student outcomes first.

If you define success for yourself, you’re already ahead of the game. When prestige fades and real life begins, it’s your growth, skills, and values that carry you — not the brand you once wore.

So make the choice that’s right for you. Own your path. And don’t worry if the name on your diploma doesn’t make anyone’s jaw drop. Your work, your mindset and your vision for your life will speak louder.

Josh Kruk is the Director of Digital Marketing at Canisius University. With extensive experience in content strategy, website optimization and user experience (UX), he specializes in driving digital growth through data-driven marketing and SEO. Josh has led large-scale digital initiatives that enhance engagement, improve search visibility, and optimize user journeys. Passionate about innovation, he continuously refines digital experiences to maximize impact.

Photo from Prostock-studio/Shutterstock.com

The post Are You Choosing a College or Just a Brand? appeared first on SUCCESS.

This interview has been edited for length and clarity.

SUCCESS+:  What exactly is wealth succession planning, and how is it different from just writing a will or naming beneficiaries?

Rob Edward:  Wealth succession is about more than deciding who gets what. It’s your chance to shape your legacy intentionally and on your terms.

Wills and naming beneficiaries are good practices, but they simply allocate assets. Wealth succession planning goes beyond this and helps craft a lasting legacy that can have a major impact on the people and causes you care about most.

For example, when you use a simple will or just name beneficiaries, you’re essentially handing your heirs money without much direction. Succession planning, on the other hand, is still about passing on wealth—but with clear intent. You might set up a trust that specifies you’d like to help your children buy their first home, support their education or fund a business idea. That’s shaping a legacy, not just distributing assets.

S+:  At what point should someone start thinking about succession planning? Is there such a thing as “too early”?

RE:  It’s never too early. The sooner you start, the more control and peace of mind you’ll have. People often think planning is all about the money, but it also helps avoid unnecessary stress and conflict down the road.

When people wait too long, the consequences can be both emotional and financial. I’ve seen adult siblings stop talking to each other because of misunderstandings around who gets what. These situations often lead to increased legal costs and taxes. But even more damaging is the emotional fallout—resentment, stress and, in some cases, family relationships that are never repaired.

S+: What are some common mistakes people make when planning to pass on their assets?

RE:  People usually either wait too long, keep their plans a secret or assume everyone is on the same page about what’s most important. In my experience, clear and upfront communication beats complexity every time.

S+: How often do people delay planning because they think they’re “not wealthy enough”? What would you tell them?

RE:  All the time. In fact, I’ve been hearing this more and more lately. My belief is that if you’ve built anything that you value, then you’re already “wealthy enough.” Who cares what your neighbor is doing or what social media says? Succession planning is about preserving your legacy and protecting your loved ones—not about living up to someone else’s standards.

S+: What does a solid, modern succession plan look like in 2025? Are there elements most people wouldn’t think to include?

RE:  There is a lot of uncertainty with tax laws right now. It also seems that inflation may be with us for some time. On top of that, life is fickle and always changing—sometimes unexpectedly.

So, in my opinion, a solid succession plan would include tax-smart trusts, investments that can outpace inflation and clear guidelines for how assets are to be used.

To expand on that: A trust that is “tax-smart” might be designed to reduce taxes by spreading distributions out over time or including charitable giving. An “inflation-proof” investment is one that grows alongside inflation—helping preserve a family’s purchasing power. Assets that tend to perform well in inflationary environments include stocks, real estate and commodities.

S+: How do personal dynamics—like blended families or different financial values among heirs—factor into a well-thought-out plan?

RE:  Family dynamics are usually the toughest part. A well-thought-out plan tackles these issues upfront in a clear, direct and honest way. Getting everyone on the same page today helps avoid conflict later.

For example, I recently worked with a client who remarried later in life, with adult children on both sides. We created a plan that openly discussed everyone’s expectations and then established separate trusts to honor each family’s priorities. This helped everyone feel heard from the start—and ideally, reduces tension down the road.

S+: What are some smart ways to set conditions around how money is used without creating resentment?

RE:  Start your planning with your values and intentions—not control and ultimatums. With a strong moral foundation, your planning can help foster responsible stewardship rather than resentment.

One creative example I’ve seen came from a very entrepreneurial family. They added a “legacy match clause” to their trust. It stated that if their grandchildren earned money through internships or jobs, the family trust would match it dollar-for-dollar. I thought that was a clever way to reinforce the family’s work ethic while still providing support.

S+: What role do taxes play, and how can people minimize the tax burden for their heirs?

RE:  Taxes are a huge consideration. They can’t be avoided, but they can be managed. And you don’t always need to jump through hoops to get the job done well.

Even straightforward strategies—like giving gifts while you’re still alive, using trusts strategically and choosing tax-smart investments—can make a big difference. The key is to plan ahead and be intentional.

S+:  Who should someone speak to as they begin—do you need a whole team, or can one adviser help get things rolling?

RE:  Start with someone you trust completely. Usually, there’s one adviser who really “gets” you and your family. That person can help you organize a team of specialists—estate lawyers, tax experts and more—when the time is right.

I started my career at a family office and saw firsthand how valuable it is to have multiple professional perspectives involved in the decision-making process. It helps ensure every base is covered.

S+: What’s one piece of advice you repeatedly give to shift mindsets about wealth transfer?

RE:  I always remind clients: Think legacy, not just inheritance. Your wealth transfer should reflect who you are, what you value and what you want people to say about you when you’re gone.

S+:  What makes a succession plan truly meaningful—not just financially, but emotionally or philosophically?

RE:  It’s meaningful when it expresses your life’s work, your wisdom and your love. The most successful plans aren’t just about transferring wealth—they’re about empowering the next generation to thrive and carry forward your family’s values.

And here’s something I wish more people knew: Succession planning isn’t just a chore to check off. Yes, it takes time, though, and sometimes tough conversations. But when it’s done right, it brings families closer together. It creates unity and shared understanding around what really matters. That, to me, is the greatest gift you can leave behind.

Photo courtesy of Rob Edwards. This article originally appeared in the July issue of SUCCESS+ digital magazine.

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True financial freedom is having enough savings, assets, investments and passive income coming in that you don’t need to rely on a traditional job. It goes beyond just acquiring wealth. It’s also about gaining security and control. Then, you can spend your time on the things that matter to you most, like your family, creative aspirations or soul-filling adventures. 

Of course, this type of invaluable freedom doesn’t come free. It requires financial know-how, discipline and smart budgeting. It often means a willingness to live below your means in the short term so you can do more in the long term. But the good news? You don’t need to become a millionaire to achieve it. You just need a plan, the commitment to stick to it and maybe a few financial freedom quotes to get you started. These words offer motivation and advice as you navigate the tricky yet transformational world of personal finance. 

Motivational Financial Freedom Quotes to Fuel Your Success  

The journey to financial freedom requires motivation and persistence. Building a comfortable amount of wealth doesn’t typically happen overnight. As you manage your money, it can help to have a vision of what you want your life to look like. Maybe you want to be retired by the age of 40. Perhaps you want the ability to stay home for a couple of years to raise your children. Or, maybe you want to have the means to travel whenever and wherever you want. 

Whatever it may be, keep this goal in the back of your mind. Make a step-by-step plan for how you will get there and stick to it. As you navigate, use the following motivational financial quotes to keep you on track. They touch on the true meaning of financial freedom and how to attain it through methods like passive income and investments. 

• “Real wealth is not about money. Real wealth is: not having to go to meetings, not having to spend time with jerks, not being locked into status games, not feeling like you have to say yes, not worrying about others claiming your time and energy. Real wealth is about freedom.” —James Clear
• “Financial freedom is more of a journey than a destination.” —Rob Berger
• “I believe that through knowledge and discipline, financial peace is possible for us—all of us.” —Dave Ramsey, Financial Peace Revisited
• “The key to financial freedom and great wealth is a person’s ability to convert earned income into passive and/or portfolio income.” —Robert Kiyosaki, Rich Dad Poor Dad
• “Your economic security does not lie in your job; it lies in your own power to produce—to think, to learn, to create, to adapt. That’s true financial independence. It’s not having wealth; it’s having the power to produce wealth. It’s intrinsic.” —Stephen Covey, The 7 Habits of Highly Effective People
• “To become financially independent, you must turn part of your income into capital; turn capital into enterprise; turn enterprise into profit; turn profit into investment; and turn investment into financial independence.” —Jim Rohn
• “Working because you want to, not because you have to, is financial freedom.” —Tony Robbins
• “Wealth is what you accumulate, not what you spend.” —Thomas Stanley, The Millionaire Next Door
• “You can’t live your life waiting to get rich in a job that no longer feeds you artistically.” —Julianna Margulies
• “Do what you love, the money will follow.” —Marsha Sinetar

Related: 4 Core Patterns That Lead to Financial Freedom

Inspirational Quotes on Financial Wellness & Stability

Financial well-being means dumping the paycheck-to-paycheck grind and getting to a place where you’re in control of your money, not the other way around. Accordingly, the following tips can help you reach a place of financial stability: 

• Set clear short-term and long-term financial goals.
• Chip away at your debts. 
• Build a reasonable budget. 
• Save more by living below your means.
• Invest wisely and set up automatic money transfers to build wealth more consistently.
• Develop a habit of constantly learning to increase your financial literacy.

Another helpful tidbit is to lean on advice from personal finance experts like Dave Ramsey and Suze Orman. Find a few of their top financial stability quotes below, as well as pointers from other authors, celebrities and more.

• “How you respect your money says a lot about how you respect yourself. When I learned to give myself—and my money—the love and respect we both deserved, I felt as if a huge weight had been lifted.” —Suze Orman
• “Money is in some respects like fire; it is a very excellent servant but a terrible master.” —P.T. Barnum, The Art of Money Getting
• “Financial well-being isn’t about wealth—it’s about peace of mind and confidence in your financial future.” —Jodie Phelps
• “You must gain control over your money, or the lack of it will forever control you.” —Dave Ramsey, Financial Peace Revisited
• “If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.” —Edmund Burke, Letters on a Regicide Peace
• “Whether you want to exercise more often or you’re hoping to become debt-free, real change happens in stages. Slow and steady progress is great—as long as you’re taking steps in the right direction.” —Amy Morin
• “I also learned that I love making money. Anyone who is not afraid of work will be happy with the money they make.” —Gene Simmons
• “Money, like emotions, is something you must control to keep your life on the right track.” —Natasha Munson, Life Lessons for My Sisters
• “I’m not living large; I just want to live comfortably. I wanna have financial stability that is unshakable.” —Queen Latifah
• “Financial well-being is a large component of our health as a whole and should be tended to in the same way as exercise, clean eating and mental health.” —Hulya Gunay

Related: 66 Money Quotes to Help Motivate You & Maximize Wealth

Wise Quotes to Help You Stay on Budget

Financial literacy and budgeting are cornerstones of creating financial freedom. Begin with a basic understanding of financial language, concepts and tools. From there, you can gain more awareness of the current state of your wealth and how to grow it (hint: budgeting will always be a part of this endeavor). 

Budgeting is an entirely different animal in and of itself, and there are many ways to approach it. Some people opt for the 50/30/20 rule of allocating 50% of their income for needs (think mortgage, food and utilities), 30% for wants and 20% for savings or debt payments. Zero-based budgeting, where every dollar of income is assigned to a specific purpose, is also popular. Or, you can stick to a traditional budgeting technique of relying on the previous year’s earnings and expenses to categorize and plan out money allocation for the upcoming year. The key is to find the method that works best for you and your goals and hold yourself accountable. 

Financial planning quotes remind us of the importance of budgeting—with a focus on how it opens us up to new possibilities rather than constraining us. Use them to resist those unnecessary purchases and keep yourself in check—it can be difficult, but well worth it!

• “A good financial plan is a road map that shows us exactly how the choices we make today will affect our future.” —Alexa von Tobel
• “A budget is more than just a series of numbers on a page; it is an embodiment of our values.” —Barack Obama
• “No matter what you’ve heard or thought about budgeting in the past, hear this: A budget doesn’t limit your freedom—it gives you freedom! It’s you taking control, getting intentional and telling your money what to do.” —Rachel Cruze
• “Beware of little expenses; a small leak will sink a great ship.” —Benjamin Franklin
• “I remember saying to my mentor, ‘If I had more money, I would have a better plan.’ He quickly responded, ‘I would suggest that if you had a better plan, you would have more money.’ You see, it’s not the amount that counts; it’s the plan that counts.” —Jim Rohn
• “Never spend your money before you have it.” —Thomas Jefferson
• “The three legs of the financial planning stool include savings, insurance and investment.” —Brian Tracy
• “Being a millionaire and staying a millionaire are two different things.” —T. Harv Eker
• “There is no dignity quite so impressive, and no independence quite so important, as living within your means.” —Calvin Coolidge, The Autobiography of Calvin Coolidge
• “It’s better to live cheap under budget than luxuriously in debt.” —Joshua Becker

Short Sayings to Achieve Financial Independence 

What is standing between you and financial freedom? It might only be the decisions you make with your money. These financial independence quotes, originally written by the SUCCESS® team, are daily reminders of what’s at stake and what you can accomplish when you lock in. Remember that a few smart money moves and a few sacrifices today can help you live the life of your dreams in the future. 

• “You don’t necessarily need more money; you need more clarity and control.”
• “No amount of instant gratification could ever live up to the feeling of being financially free.” 
• “Stick to your plan and remember why you started—the view from the top will be worth it.” 
• “Consistently investing in your future is like buying a ticket to a lottery that you’re guaranteed to win every time.” 
• “True wealth is having the ability to say yes to all the things you want to do and no to all the things you don’t.” 
• “Financial independence is the highest form of peace.” 
• “Money can’t buy you happiness, but financial freedom can grant you time.” 
• “You’ll know you’ve reached financial wellness when money isn’t at the forefront of every small decision you make.” 
• “When your money starts working for you rather than against you, your life changes.”
• “Spend your money with purpose so that you can do the same with your time.” 

What Could Your Financial Freedom Look Like?

Have you ever thought about what you would do if money weren’t an object? Launch your own business? Volunteer your time to help others? Move somewhere new that you’ve always wanted to explore? 

Financial freedom allows you to answer this question because it gives you options. Building up a cushion of wealth—through income, investments or whatever it may be—creates space to live on your own terms. And it all starts with the basics: eliminating debt, tactfully budgeting and keeping your eyes on the prize. Financial wellness quotes give you a taste of what financial independence could look like and push you one step closer toward the life you’ve always imagined for yourself.

Photo courtesy of Inside Creative House/Shutterstock

The post Financial Freedom Quotes to Help You Take Charge of Your Money appeared first on SUCCESS.

But with so many investment platforms and asset options—stocks, ETFs, crypto, and more—it’s easy to feel overwhelmed when pursuing financial freedom. That’s where the Webull app comes in. Designed for modern investors who want powerful tools without the high costs, Webull offers an intuitive platform to help you trade smarter, track performance, and take control of your financial future.

In this review, we’ll break down how Webull works, its standout features, and whether it’s the right fit for your investing goals.

What is Webull?

Webull is a mobile and desktop platform with an intuitive interface that enables both beginners and mid-level traders to transact without spending a cent on commissions. Webull offers a range of investment options from stocks and ETFs to cryptocurrencies, giving users the versatility needed to build wealth. 

The uniqueness of the Webull app allows it to stand out amidst the variety of trading platforms popping up in the market. Webull is rapidly becoming one of the best trading platforms with functional tools like charts, stock screeners, extended hours and a customizable dashboard.

The Webull app is beginner-friendly, so if you are new to the trading world, Webull is highly recommended. If you are comfortable with a little tech, and you don’t mind making your own money moves, plus you do not want to spend so much on fees, then Webull will likely be your go-to platform. For beginner and intermediate traders looking to learn and earn while making smart investment decisions, Webull is a great choice.

Important Webull Features

Why Invest Using the Webull App?

The Webull app is rapidly becoming a favorite platform because of the ease, affordability and flexibility it gives. In addition, Webull has several sought-after features, making it worth the time and effort for users. Whether you are actively trading or simply planning for retirement, the app’s features are designed to support your goals.  

Here are some reasons why it is a great idea to invest with the Webull trading app:

Commission-Free Trading

With Webull, you can trade without paying any commissions. Whether you are buying stocks, ETFs or options, you do not have to think about capital first. This is one of the most popular features of the Webull app. The implication of this is that you can maximize your investment returns without worrying about losing your profit to extra charges. For beginners and active traders who are looking to keep costs low, this is an advantage.

Advanced Charting Tools

Data is a key factor for successful trades, and Webull makes accurate data keeping possible. You can leverage its advanced tools to monitor the market, track trade patterns and make data-driven decisions. With these features, you can get better results from your trades, irrespective of your level; beginner or advanced.

In-Depth Quotes

Webull gives you real-time market quotes, enabling you to make timely trading moves. With the details of these quotes, you can make more accurate moves, avoid mistakes and be more confident in your trading decisions. In summary, you get to be a better trader.

Extended Trading Hours

More trading hours means more flexibility, and ultimately more opportunity. With premarket (4 a.m.–9:30 a.m. ET) and after-hours (4 p.m.–8 p.m. ET) trading, Webull makes it possible for people who cannot trade during regular trading hours to join in at their convenience. Whether you are a morning person or you would rather trade at night, the Webull app creates space for you to invest on your own schedule.

Cross-Platform Access

With Webull, you can trade seamlessly across different platforms and devices. The flexibility of device usage provides a seamless experience for users, ensuring you never miss an opportunity. Wherever you are, and whatever you have, you can always access your investments and trade without hassle using Webull.

Flexible Account Offerings

Webull provides multiple account options for your ease. You can choose either an individual or a margin account, depending on your financial needs. This flexibility helps you invest according to your financial goals. Webull provides options that suit your needs, whether that is retirement savings, margin trading or simply managing a standard investment account. 

How to Use the Webull App

The interface of the Webull app is very intuitive, allowing both new and seasoned investors to navigate it with ease. Follow this step-by-step guide to begin investing with the Webull app.

1. Download and Set Up Your Account

First, you will need to download and install the Webull app, which can be found in the App Store (for iOS users) or Google Play Store (for Android users). After installation is completed, account creation is the next step. Add some personal information like your name and address, and you might be required to add your SSN if you are in the U.S., then you are ready for the next step.

2. Fund Your Account

After setting up, your account should be funded. Webull provides options for this, including wire transfer and bank transfers. With Webull, a minimum deposit is not required to open an account, making it accessible for people with different budgets. Transfer funds through the Webull app and start trading immediately after your deposit is processed.

3. Browse and Research Investment Options

You can start investing by choosing the most viable option. Browse through Webull’s generous list of available products, from stocks and ETFs to cryptocurrencies, either by searching tickers or by using their customizable watchlist and screening tool. Webull also allows you to peer into the real-time market and get data, information and charts that can help you make the most informed decisions. 

4. Place a Trade

Placing your first trade is simple. Select the asset you want to buy or sell, choose the quantity and specify whether it’s a market order or limit order. After reviewing the details, confirm the trade, and Webull will execute it for you.

5. Monitor and Manage Your Portfolio

With the Webull app, you can get real-time insight into your portfolio. This will help you monitor your investments, account balance and performance overall. Improve your investment strategy by setting price alerts to get detailed reports of your current market position. 

On the Webull app, you’ll find features like margin trading, extended hours trading and paper trading (which can be used for practice). For advanced traders who need real-time information, Webull also provides technical analysis tools, charting options and access to level 2 market data.

Pros and Cons of the Webull Trading App

With the numerous benefits, there are also a few downsides to the Webull app. This table  summarizes the pros and cons:

Is Webull Safe?

The Webull app is regulated by the Securities and Exchange Commission (SEC) and is a member of both the Financial Industry Regulatory Authority (FINRA) and the SIPC (Securities Investor Protection Corporation). Additionally, Webull offers advanced encryption and customer services (i.e. email support, etc.), ensuring that you invest with confidence. 

Stay in Charge of Your Investments With the Webull Trading Platform

The Webull app lets you invest confidently, securing your returns. Whether you are a beginner or a seasoned investor, you can build wealth with the right tools. Real-time data, zero commissions, advanced tools—what more can you ask for? Leverage the Webull app today on your journey to financial freedom.

Photo by insta_photos/Shutterstock

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Bitcoin shattered records this week, rising above $120,000 as lawmakers kicked off what’s being dubbed “Crypto Week”—a pivotal moment that could steer the U.S. closer to a regulatory environment more welcoming to digital assets. This marks a careful but important step in the direction of countries like Switzerland, Singapore and El Salvador, which have taken the lead in building frameworks that legitimize and support the use of cryptocurrencies.

A new chapter for cryptocurrency as U.S. moves toward integration

As digital assets reach trillions in global value, formal recognition is seen as a key milestone for bringing cryptocurrencies like Bitcoin into the broader financial system. Such progression would enable people nationwide to use digital currencies in day-to-day life. In countries that have already made this transition, Bitcoin is widely accepted and supported by features such as cryptocurrency ATMs and official digital wallets.

With digital assets now valued in the trillions globally, formal recognition is a pivotal step toward fully incorporating cryptocurrencies like Bitcoin into mainstream finance. In countries that have made this leap, Bitcoin enjoys widespread utility, supported by infrastructure such as cryptocurrency ATMs and state-backed digital wallets. Although the U.S. has yet to grant any cryptocurrency legal tender status, the increasing popularity of stablecoins hints at a not-so-distant future where digital assets may become part of everyday transactions. By being anchored to conventional currencies like the US dollar, stablecoins offer a more secure and approachable way to engage with crypto for the first time.  

Less than three years after the FTX exchange collapse caused Bitcoin’s value to drop and sparked doubts about its longevity, the cryptocurrency has staged a remarkable comeback. This resurgence has given investors renewed hope that crypto could one day replace traditional money, yet that future depends on official recognition and regulation. In the cryptocurrency ecosystem, all transactions are logged on publicly accessible blockchains, turning digital wealth into a fully traceable record.

What regulation means for the safety of your digital funds

Because blockchain transactions are public, anyone can track funds between wallet addresses, so your wallet’s security depends on how well you manage it. Although these addresses don’t reveal who owns them directly, all the activity tied to them is out in the open. This transparency raises important questions about how well financial data is currently protected in the crypto ecosystem, since individuals’ identities can occasionally be pieced together and used in fraudulent activities or cyberattacks. 

Hackers often aim for wallets that hold large sums of cryptocurrency, using methods such as hacking, ransomware and extortion to exploit their owners. By cross-referencing public wallet information with leaked personal data, criminals can collect enough details to impersonate or blackmail victims. Poor password security also makes wallets susceptible to attacks. In some instances, hackers target exchanges directly, putting users’ funds stored there at risk, too. For instance, in May, Coinbase Global Inc. (COIN) disclosed that hackers had accessed the home addresses and account balances of nearly 70,000 customers over recent months, putting thousands at risk of extortion and physical danger. 

Over the coming week, several legislative proposals that aim to provide clearer guidelines and regulatory frameworks for the cryptocurrency sector will be up for debate. These bills address a wide range of topics, including the issuance and management of stablecoins, transparency in digital asset markets and measures designed to protect user privacy and data security.  

Clearer rules matter for cryptocurrency safety

New rules could help consumers use cryptocurrencies such as Bitcoin more safely and with greater confidence. Regulating stablecoins—cryptocurrencies pegged to assets like the U.S. dollar—would ensure they can be trusted as a payment method. Given the lingering doubts many have about cryptocurrency safety, these measures have been proposed to strengthen protection and increase public confidence. The transparency of blockchain technology offers many benefits, but it also demands that users take responsibility to safeguard their wallets against potential risks.

The Digital Asset Market Clarity Act proposes broadening the Commodity Futures Trading Commission’s role, which could result in many tokens being classified as commodities, not securities. A security under U.S. law involves investing money with the expectation of profits driven by a third party’s efforts. A commodity, by contrast, is an interchangeable asset that can be traded on open markets and is highly regulated. In the context of crypto, this means some tokens are regulated like stocks, while others are treated more like raw goods. 

When a token is classified as a security, the issuer must comply with Securities and Exchange Commission (SEC) regulations, including registration and disclosure requirements to promote fair and transparent trading. If it’s considered a commodity, it faces lighter oversight, focused mainly on fraud and market manipulation.

The CBDC Anti-Surveillance State Act seeks to prevent the Federal Reserve from creating a digital dollar to avoid increased government tracking. The Genius Act, recently approved by the Senate, focuses on regulating stablecoins, which permits private companies to issue them under regulated conditions.

The Genius Act, recently passed by the Senate, focuses on regulating stablecoins—digital currencies that are tied to the value of the US dollar. It allows private companies to issue these digital coins, but only if they follow strict government rules to make sure each coin is backed by real money or very safe assets. The law also requires companies to regularly report on their reserves and makes it illegal to mislead people about what the coins are or how safe they are. Retail giants like Amazon and Walmart are already planning to launch stablecoins for everyday consumer transactions. According to the WSJ, stablecoins could enable businesses like these to significantly reduce costs associated with traditional banking and card payments that impact their budgets.

Preventing sudden losses in your digital wallet

Regulators want stablecoins to be backed by real money or assets and checked regularly by independent auditors. This helps prevent sudden crashes that could cause people to lose money in their digital wallets. Clearer rules about who oversees different types of digital coins will also help protect people from investing in risky or fake cryptocurrencies that could put their money in danger.

As the U.S. moves toward officially embracing cryptocurrency, the coming months could redefine how future generations will interact with money. 

Photo by Parilov/Shutterstock

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Gen X is up next to retire—and for people in their 40s and 50s, that means understanding that retirement is now just around the corner during times of extreme market volatility. But that doesn’t mean that they won’t be able to retire. With savvy investing strategies, Oden still believes that investors of any age can achieve their “financial glow-up” in any market and with any time horizon. 

Here are five tips from Oden for how to create a successful retirement plan.

1. Work with a professional to understand your portfolio

“I truly am a believer [that] it’s okay to seek advice, because these are very complicated markets right now,” Oden says. “There are periods where you feel like you can kind of make sense of all of it and kind of make your own individual decisions. And there are going to be periods in the market where you actually feel the need for professional advice. I think we’re in one of those periods.”

Even the worst market has some strong opportunities—so working with the right person can ensure that you’re making smart decisions about your investments. 

“While volatility may feel very extreme on you personally, that means there’s a lot of lows, which means that’s a buying opportunity,” she says. “But you want to make sure they’re in the right sector.”

Knowing how the world around you affects your portfolio can help you make savvier choices about where to direct your portfolio. For example, the effect of tariffs can vary from industry to industry.

“What’s also important in times like this—of volatility—is staying very engaged in what I call active management,” she adds.

2. Evaluate your short-term versus long-term needs

“The things people are always going to ask you are, ‘What’s your risk tolerance?’ and ‘What’s your time horizon?’” Oden says.

Your time horizon is the amount of time (months, years or decades) that you need to contribute to an investment in order to achieve your financial goals. An individual who plans to retire in five years, for instance, may want to opt for a less aggressive investment strategy than someone who still has 20 years. 

“You could be a lot heavier weighted in equities or riskier products, but you have long-term benefits to gain in that period of time,” she says. “If we have short-term needs in this environment today, things such as treasuries [are] a very good thing to look at.… [And] I think gold is doing extremely well.” 

Whether you’re retiring right now or in 15–20 years, there are still certain things that you should always be doing. 

“Make sure that you’re making out on what I call your tax benefits, such as your 401k, your IRA and your HSA,” Oden advises. “[It’s] important that you’re leveraging the dollars that you’re making and [that] you’re getting… tax-deferred benefits from it. So I use that as a fundamental, no matter what stage of life you are [in].”

3. Define your future expectations

“I think people think of [retirement] as like an administrative thing,” she adds. “But that’s why you work so hard now on your investments and gathering of your savings and assets—so you can live this version of the lifestyle that you define for yourself.”

Different people have different expectations of what retired life should be like. For example, if you’re planning on living in an RV after you retire, you probably have very different needs than someone who owns multiple homes and wants to live a snowbird lifestyle. 

“What do you want it to look like?” Oden asks. “Based on that is how you should actually be crafting your investment portfolio to help you live that lifestyle that you define.”

4. Begin to address your debts

It’s also important to work toward eliminating all your debts when you’re gearing up for retirement. 

“In your 20s and 30s, you can take on a lot more debt [since] you’ve got a lot of time,” she says. “As you’re getting to your 40s and 50s and you’re getting 10 years away from retirement, you want to start thinking of things like, maybe you don’t have five homes at the same time.”  

If nothing else, it’s especially important to eliminate high interest debts like credit cards, as these can heavily restrict your cash flow and lead to financial strain. 

“That’s what’s really going to change when you hit retirement,” Oden says. “Very little is coming in and a lot is going to go out.”

5. Plan for and embrace longevity

One of the most important things to remember is that you’re probably going to live longer than you expect—and so are the people around you. 

“In the 1970s, the average life expectancy was closer to 69, and today, the average life expectancy is already at 77,” Oden says. “That’s just going to continue to increase as we continue to improve on things such as health care.” 

But when you’re responsible for your kids and aging parents, that can feel like more pressure. 

“You are what I call the sandwich generation,” she says. “You could have your 20-year-old kids that you’re still supporting, and because we are living longer statistically, your parents are around longer—and then you will be around longer. That actually puts a lot more pressure on us in retirement.” 

While you may find that you have extra expenses, like caring for your parents or children, you also need to consider (and celebrate) your own longevity. 

“You’re worrying about yourself because you’re going to live way longer,” Oden says. “So that now means you have to have a lot more money for retirement since you’re going to sustain your lifestyle longer.”

Photo courtesy of Racquel Oden

The post 5 Tips to Save for Retirement in Your 40s and 50s appeared first on SUCCESS.

“When my dad became a pro athlete, everyone got taken care of,” Haddix Jr. recalls. “As his career wound down, he tried starting businesses. But he didn’t know how to do it the right way. One day, my dad got cut. My mother was crying on the couch. Our lives started changing after that.”

Building a better solution

That experience became the catalyst for Scout, a fintech company Haddix Jr. co-founded in 2020 that combines financial education, wealth management and tax preparation specifically for college athletes. The platform comes at a crucial moment, as college athletes navigate the new frontier of NIL (name, image, likeness) deals and upcoming revenue sharing.

Haddix Jr. earned his MBA from Columbia Business School and worked as an investment banker at Goldman Sachs. An impressive athlete in his own right, he also scored over 1,000 career points playing basketball while attending Siena College. Before launching Scout, he worked as a financial adviser at Octagon, managing finances for sports superstars like Chris Paul, Steph Curry and Michael Phelps. But he wanted to make a larger impact.

“The biggest lesson from all of this is the sacrifice that you make benefits other people,” Haddix Jr. says, reflecting on his father’s journey. “I got into this because I think all these players, it’s not just about them. It’s about their families and their future kids and everybody around them.

“People [who] have money talk about money differently than people [who] don’t,” he continues. “I saw the opportunity and what it does for future generations. I was going to solve this athlete money thing. Then, I realized that ‘financial literacy’ is sort of this thing we say, but no one ever does. So I was like, let’s go build a tech platform to help this really unique subset of the population.”

Technology meets financial education

Scout’s platform does everything from calculating and withholding taxes to facilitating investments and savings. The company’s approach is already proving successful with major athletic programs and currently works with 12 athletic departments, including powerhouse franchises like UCLA, Tennessee and Auburn. Athletes receive on-campus financial training and year-round access to Scout’s mobile app, where they can design budgets, set up recurring bank deposits and make investments—all under the guidance of licensed financial advisers.

“You look at the schools that have invested in us and the success they’ve had,” Haddix Jr. says. “One of our early clients was Auburn basketball. They’re the No. 1 team in the country, and those players have been with Scout for years. You see the recruits of Auburn football and how successful they’ve been. You see the success of Tennessee. These schools are showing that the player experience off the field or off the court actually really does contribute to winning.”

The company’s approach is comprehensive, extending beyond just the athletes. “We provide education sessions for Mom and Dad,” he says. “A lot of times, they don’t know either. They’ve never seen a 1099. They’ve never made $700,000 as a 19-year-old.

“Everything is built for people who earn money until they’re 60,” Haddix Jr. says of existing financial tools. “This is completely tailored for young athletes in this unique financial situation they’re in.”

Beyond the game

Scout’s mission transcends immediate financial management. “Our mission is to provide the opportunity for every single athlete to leverage their current opportunity for the rest of their lives,” Haddix Jr. says. “Whether you go pro or don’t go pro, you have a ton of resources and opportunity. This current environment should benefit you forever.

“Trust is important to these players,” Haddix Jr. emphasizes. “A lot of people don’t get into their lives and their ecosystems. We need to make sure that we’re authentic and really focused on the mission and always keeping that in mind in every interaction that we have.”

His advice to college athletes is straightforward: “Getting started early will benefit you forever, and it doesn’t take a lot. All these things are really intimidating—how do I do taxes? How do I do an LLC? But it’s not that hard. The earlier you learn that, the easier it gets and just a few small things will equate to some huge opportunities down the line.”

Scout’s impact is already visible. Haddix Jr. says some professional athletes continue to use the platform, investing money monthly, well after they’ve moved on from college sports. Others who’ve transitioned to different careers continue benefiting from Scout’s financial education. For Haddix Jr., these proof points validate Scout’s approach to making financial health as important as mental health in college athletics.

Looking ahead, he sees potential to expand Scout’s model to other industries where traditional financial planning doesn’t quite fit—entertainers, influencers, even gig economy workers. But for now, his focus remains on athletes, ensuring they don’t face the same financial struggles his father did.

“We’ve seen athletes and money and how it hasn’t worked out for so long, and we haven’t really done anything to change it,” he reflects. “Let’s create something where we look back at this in 10 years and say, ‘Remember when we were treating athletes and money this way? How crazy were we?’” 

This article originally appeared in the July/August 2025 issue of SUCCESS magazine. Photo Courtesy of Michael Haddix Jr.

The post Moneyball: Michael Haddix Jr. helps college athletes manage the complex world of finance appeared first on SUCCESS.

Individual investors can play a major role in driving positive impact through ESG investing. When ESG investors support businesses that align with these values, they use their financial influence to promote the change they want to see and position themselves for long-term success. Thanks to a focus on long-term resilience and forward-thinking business models, ESG investments are increasingly viewed as a smart way to build wealth sustainably.

Join us as we explore what ESG investing really means, the different factors of ESG investments and how they can help you grow your wealth while doing good.

Key Facts at a Glance

Get an at-a-glance look at what you need to know about ESG investing below. Ready to dig into the details? Keep going to get a thorough look at this sustainable wealth-building strategy. 

• ESG investing allows individuals to grow wealth while supporting environmentally and socially responsible businesses.
• Sustainable investments often offer competitive returns and lower risk, making them a smart choice for long-term financial success.
• ESG investing is not the same as impact investing or socially responsible investing, although there are overlapping practices. 
• It isn’t too challenging to start ESG investing, but it’s essential to always be cautious when making financial investments, especially those that aren’t traditional. 

ESG investing is not without risks, and financial performance is still up in the air despite studies indicating it is a sustainable long-term investment option that can lead to significant financial gains. 

What Is ESG Investing? The Concept Explained 

In the investment world, those looking to make a positive change with their monetary resources often consider ESG investing. But exactly what are ESG investments? 

ESG Investing On the Rise 

ESG investing isn’t anything new, even though ESG investing trends have seen an uptick since the COVID-19 pandemic, and more individuals, governments and companies have recognized the need for more sustainable investing practices. 

During the pandemic, $45.6 billion found its way into sustainable investment funds. 

Core Components of ESG Investing 

There are three components to ESG investing to understand. Most investors look for companies based on their commitment to one or more of the ESG factors–environment, social and governance. The environmental aspect of this investment strategy focuses on:

• Conserving the natural world
• The social aspect of the consideration of relationships and people
• The governance element of the company’s standards 

Let’s unpack what this means: 

• Environmental: Investors consider aspects such as pollution, climate policies, energy use, resource conservation, treatment of animals and more. Compliance with environmental regulations and greenhouse gas emissions are also elements that are evaluated. 
• Social: With the social element, investors evaluate customer satisfaction, gender and diversity, employee engagement, community relations, labor standards and human rights. 
• Governance: There are many governance factors considered, but most ESG investors consider aspects like board composition, political contributions, executive compensation, bribery and corruption, lobbying and whistleblower schemes. 

However, it’s essential to know that even if investments don’t have ‘ESG’ in their name, it doesn’t mean they don’t still incorporate elements of ESG investing into their portfolios. 

Related: Core Investing Basics to Understand

How ESG Investing Differs from Impact Investing and SRI Investing

ESG investing is not the same as impact investing or socially responsible investing (SRI). These types of investing all promote ethical investing, but they differ in their approach. ESG investing was initially born out of investment philosophies like SRI. 

An ESG investment approach integrates governance, social and environmental factors into financial analysis to identify opportunities and manage risk. On the other hand, SRI investing actively avoids or excludes businesses that conflict with ethical or personal values, like those dabbling in fossil fuels, weapons or tobacco.

Impact investing that takes it a step further, aiming to generate positive financial returns alongside measurable social and environmental impact. Although similar, these strategies have differing depths of engagement.  

Why ESG Investing Matters

In many countries, ESG investing has become a polarizing issue, with many experts in the field claiming ESG investment strategies are corporate examples of ‘greenwashing.’ 

In the U.S., particularly in 2025, ESG investments are facing severe scrutiny under President Donald Trump’s administration. However, despite the controversy surrounding them, many investors see the importance of ESG investments. 

Some of the top reasons to consider ESG investing include: 

Financial Performance

There are different opinions on whether or not ESG investments perform as well as traditional investments. However, several promising studies in recent years suggest that companies that integrate ESG practices could have better long-term financial returns than those that don’t or have weaker ESG strategies. 

For instance, a 2021 study by NYU Stern Center for Sustainable Business analyzed over 1,000 research papers and found that most showed a positive relationship between ESG performance and financial performance, particularly over the long term. But why is this?

Risk Management

Companies with strong ESG practices tend to have lower risks, so even if ESG factors don’t immediately lead to better financial performance, some investors believe that it’s better than traditional investing. 

By choosing companies that focus on one or more ESG factors, an investor can mitigate long-term risk and increase his or her chances of achieving improved financial gains. However, how is this possible? Well, think of it this way: the world could look very different in the next few years because of climate change. 

Companies that realize, accept and act on the threat of climate change now may be likely to be better positioned to navigate issues that arise in the future. For example, they may be prepared to address issues like supply chain disruptions and population displacements. Those who invest in companies focusing on the environmental implications in these situations could come out on the other end with profits higher than those who invest solely traditionally. It’s food for thought.

Social and Environmental Impact

Technically, impact investing is its own type of investment strategy, but ESG investing is an offshoot, meaning there is some overlap. ESG investing, like impact investing, also pushes investors towards putting their money into companies that benefit the environment and society. 

ESG might not be as heavily influenced by these factors as impact investing. It focuses more on risk mitigation as it relates to environmental and social benefits. However, investors will be supporting ethical business practices and sustainability efforts when they choose ESG investments.

How to Start ESG Investing

Beginning ESG investing can be challenging if you’re unfamiliar with this investment niche. However, these simple steps can help you get started. 

1. Research Companies or Funds 

To start with ESG investing, research companies or funds that align with your goals, vision and values. Then, explore if they are genuinely embodying ESG practices. 

2. Assess ESG Ratings 

Next, assess ESG ratings through trusted platforms like Morningstar, Sustainalytics and MSCI. With these tools, you can evaluate a company or fund’s performance on environmental, social and governance factors alongside its financial health. This will further broaden your knowledge of the investment opportunity and help you make the right decision. 

3. Narrow Investment Options 

Once you’ve used these tools to investigate ESG ratings, look into ESG-focused investment options prioritizing sustainability and ethical governance. This is not the same as researching potential prospects, as this step narrows your search so you can make actionable moves toward investing. Usually, it’s best to explore options like EFTs, mutual funds and individual stocks that are ESG-focused. For further guidance, utilize brokerage platforms that offer ESG filters to help simplify your search. 

Additionally, exploring green bonds or impact investments might be worth considering if you’re not quite ready to fully commit to ESG investing. These directly fund projects with measurable environmental and social benefits. Moreover, these investment avenues can help show you the ropes. 

4. Monitor Your Investments 

Finally, continuously monitor your investments. With various tools, you can track ESG metrics and financial returns to ensure your portfolio stays aligned with your goals. Periodic adjustments can help you build wealth sustainably and retain a financially sound strategy over time as companies evolve and ESG standards shift. 

Challenges and Misconceptions

ESG investing offers several benefits, including benefits for communities and the environment. It also offers investors lower risks and remarkable growth in return over the long run; however, there are a few challenges and misconceptions you should know:

• Performance: As mentioned, the jury is still out on whether ESG performance is truly better than traditional investing performance. It’s also best to be cautious with ESG investing when ESG performance can be affected by short-term issues like political changes that affect environmental regulations and geopolitical conflicts that disrupt energy pricing. 
• Greenwashing: Despite industry rules to prevent it, greenwashing is a common tactic companies use to deceptively market themselves as environmentally friendly with regard to their goals, products or policies when they are not. That’s why it is crucial to research and identify truly sustainable investments. To do this, look at third-party verifications and annual impact reports to see what is truly happening. 
• Measurement: Unfortunately, ESG scores often involve a degree of subjectivity. Since companies don’t always disclose consistent or standardized information, ESG data can lack the clarity and precision typically found in conventional financial metrics. As a result, investors may struggle to gain a clear and accurate picture of a company’s long-term sustainability and its alignment with ESG principles.

It’s also worth noting that ESG investing may come with higher costs compared to more traditional approaches. Many sustainable investment platforms tend to have elevated annual fees relative to typical brokerage accounts, which is an important factor to consider when evaluating ESG-focused options.

Consider Your Next Investment Steps 

The ESG investment strategy can benefit our communities and the environment. It’s possible for this form of investing to have remarkable growth in return over the long run, making it a sustainable way to build wealth. 

It’s an avenue that is worth considering, using the correct tools while following best practices. With all this in mind, it might be time to start researching ESG funds and making sustainable investments. 

Photo by insta_photos/Shutterstock

The post What Is ESG Investing? An Overview of a Sustainable Wealth-Building Strategy appeared first on SUCCESS.