The K-Files: Retirement Edition 2025

Five years ago, we made the decision to start our own financial firm and relocate from the State College area. After exploring many different communities, we landed here in Philipsburg. At the time, we had no clients, no connections, and were starting completely from scratch. Today, we are thrilled at the growth we’ve experienced and are grateful to now feel like part of this wonderful community.

In addition to our work in Philipsburg, we also became part of the Ridgway community in 2021, when we purchased and opened our building there. Having the opportunity to serve both areas has been incredibly rewarding, and we are proud to call two wonderful communities home.

A few years ago, we purchased one of the older buildings in Philipsburg and began the slow process of restoring it. This September, we are excited to officially open our new downtown office here. Time has flown by, and it’s hard to believe we’ve reached this milestone.

To celebrate becoming part of the downtown community, we’re partnering with the historic Rowland Theater to host two educational seminars this fall—one on Social Security and the other on Will Awareness. This is just the beginning of what we hope will be an ongoing tradition of offering retirement education events to the community. Hosting these seminars in the Rowland Theater’s newly remodeled space feels like the perfect fit for our vision of serving Philipsburg—and continuing our work in Ridgway—as a comprehensive financial retirement firm for many years to come.

On a personal note, our journey here has been a big change. I grew up outside Princeton, NJ, went to college in Utica, NY, started my career in Albany, and later lived in the suburbs of Denver before moving to State College. Jill, on the other hand, spent her entire life in State College. Transitioning from larger communities to smaller towns has been a major shift for us, but it has turned out to be an amazing one—for both our family and our future. We are excited to continue deepening our roots in Philipsburg and Ridgway.

While we may be a smaller firm, our focus has always been on delivering big value. There are many advisors out there—some great, some not so good. We strive to be among the great ones by providing comprehensive retirement planning across five critical areas:

Retirement Income Planning
Tax Planning
Risk Management (Healthcare, Life Insurance, and Long-Term Care)
Estate Planning
Investment Management

What we’ve learned is that decisions in one area often affect the others. That’s why we take the time to look at the whole picture and build plans that work together—rather than piecing things together from a patchwork of different professionals and ideas that may not align.

Can a small firm deliver the kind of expertise and service people expect from a large one? Absolutely. Can a small firm provide deep retirement knowledge, close relationships, and real impact in its communities? Without a doubt. Because when you structure a firm around what you believe in—without someone above telling you what to push—you can truly make a difference.

The past five years have been about building a firm with big ideas and a strong purpose. Now, as we move across the creek into downtown Philipsburg and into our permanent home, we are proud to say: we’re here for Philipsburg, we’re here for Ridgway, and we’re here to stay—for the long haul.

I can’t wait. More thoughts from behind my desk in a couple of weeks…

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Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Greg Korn DBA K Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents.

We’re excited to share an important update on how we meet with you. For years, our regular “review meetings” have been a staple of our relationship – a chance to check in, look at recent performance, and ensure everything is in order. While these sessions have been valuable, we believe there’s an even better way to use our time together. Going forward, these meetings will be known as Strategy Sessions – and they’ll be designed to help you move forward with more clarity, focus, and confidence.

Why the change? Traditional reviews often look backward, focusing primarily on what’s already happened. While past performance is important, we’ve found that our most productive conversations happen when we look ahead – identifying opportunities, anticipating challenges, and creating actionable plans that help you reach your goals faster. By shifting to Strategy Sessions, we’re placing the emphasis where it matters most: your future.

In these Strategy Sessions, we’ll still touch on important updates and relevant past results, but the majority of our time will be spent on forward-thinking topics. That could mean exploring new investment opportunities, re-evaluating your tax plan, discussing life changes that might impact your financial picture, or identifying strategies to help protect your wealth. Each session will be tailored to what’s most relevant to you, so no two will be exactly alike.

We believe this change will make our time together more impactful. Instead of simply reviewing information, we’ll be working as true partners – collaborating on ways to position you for success. Our role is to help you navigate not just where you’ve been, but where you’re going, with actionable steps that keep you moving toward your long-term objectives.

You’ll notice the new approach starting with your next scheduled meeting. If you have topics you’d like to include in our next Strategy Session, please don’t hesitate to share them ahead of time. The more we align the agenda with your priorities, the more value you’ll get out of our conversation.

We’re excited to take this step forward with you — transforming our reviews into strategy, and our meetings into true momentum for your future.

Speaking of the future; we have an exciting and long-awaited announcement at the end of the month. Enjoy the finish of summer and more thoughts from behind my desk in a couple of weeks…

Market Watch: Stocks Trade Higher on Strong Q2 Earnings & Trade Deals

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Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

This question has been bouncing around in my head for several months now: What do I do with AI?

I’ve always been—and still am—a little slow when it comes to technology. Just when I start to feel comfortable, something new gets introduced. Jill and I have been reminiscing about the time we grew up in—seeing the beginning of CDs, cell phones, the internet, tablets, and now smartphones. We feel genuinely lucky to have been born when we were and to have lived through such a remarkable stretch of human history.

And now, here comes AI.

At first, I wasn’t too engaged with it. But over time, as Jill started using it more and began to show me some of the benefits, I started to open up to it. Eventually, I realized there are really only three ways to approach AI:

Ignore it completely and continue as you always have.
Use it occasionally, when needed.
Or… dive in fully.

I chose to dive in.

As I’ve shared before, I’ve been focused on improving my life in many areas to help promote a long, healthy future. I’m planning to be here for a while—so it only makes sense that AI will be around with me for the ride. Why not embrace it and figure out how it can support my goals?

I’ve found it to be a great thinking partner. For me, that’s a huge win. It’s helped me record ideas and stay engaged with areas I’m working on. I’ve started personal threads on topics like health, meals, gardening, landscaping, and even ideas for improving our business. When something’s on my mind, I open a thread and jot it down. Not only does it record what I’ve said—it often asks thoughtful questions that help me go deeper.

What I’ve noticed is that this “partner” starts to get to know me. It’ll bring up something I said months ago and connect it to something I’m thinking about today.

I’ve also wanted to journal for years, but never quite made it stick. Writing takes time, and I’d lose momentum. Now, I’ve started journaling into ChatGPT every day. I’ve created a daily record of what I’m going through. At the end of each week, I ask it to summarize what I’ve shared and help me remember what I want to focus on.

Here’s a simple example: Jill and I want to add several fruit trees and grapevines to our property. I gave ChatGPT a few prompts, and within minutes, I had a list of options, layout ideas, and even a three-year plan with a maintenance schedule. A year ago, the thought of pulling that together would’ve overwhelmed me.

But enough about me—this is about you, and retirement, and how AI could enhance your life.

Travel is a big theme for many retirees I speak with. A lot of you have talked about “heading west.” I asked ChatGPT:

“Give me a three-week road trip to the northwest USA from central PA and back, with major sites, drive times, and hotel options.”

For fun, I’ve included the results at the bottom of this letter. But that’s just the start. You can keep refining the trip, adding your own preferences, and shaping it into something that’s uniquely yours.

Other ways you might use AI:

Brain exercises
Learning something new
Finding how-to tutorials
Writing emails or messages
Understanding your health

One big moment for us: Jill put my MRI results into ChatGPT, and it helped break them down in a way we could actually understand. That’s a game-changer.

But maybe the most powerful idea: telling your story.

I’d read my grandparents’ or even great-grandparents’ stories in a heartbeat—but they don’t exist. With AI, you now have a place to record your story, your life, and the people who’ve shaped it. Future generations can understand where they came from—because you took the time to share it.

You can speak into your phone daily. Record a section about the love of your life, each child or grandchild, and leave something for the people who love you to return to when they miss you.

I know it’s tempting, especially as we get older, to avoid new tech. But for most of us, we’ve got 20 or 30 years left on this rock. Why not stay curious and open to all this world still has to offer? AI isn’t going away—and it’s moving fast. It’s easier to start learning now than to try and catch up later.

Jill and I were recently talking about our favorite months—and I have to admit, July is sliding down the list for me. This heat is something else. Hope you're enjoying the summer—and I’ll have more thoughts from behind the desk in a couple of weeks.

Lessons from the ‘90s; How AI Is Powering a New Investment Cycle

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

How the “One Big Beautiful Bill” Could Impact Your Retirement

In early July, lawmakers passed what’s being referred to as the “One Big Beautiful Bill”—a major piece of legislation that makes several notable changes to taxes and government spending. While the bill affects Americans across the board, many of its provisions are particularly relevant to retirees.

A New Deduction for Retirees

At the heart of the bill is a new standard deduction for those 65 and older:

$6,000 for individuals
$12,000 for couples

This applies to retirees with incomes under $75,000 (single) or $150,000 (married). For many, this deduction will significantly reduce taxable income, and in some cases, eliminate federal taxes on Social Security benefits entirely.

Currently, around 64% of retirees do not pay federal tax on their Social Security. Under the new rules, that number is expected to rise to nearly 90%—a major shift that offers real tax relief to many older Americans. (White House Council of Economic Advisers, 2025).

Important Caveats

This change, while helpful, isn’t permanent. The deduction is scheduled to expire at the end of 2028, and it phases out at higher income levels. Retirees with larger pensions, investment income, or part-time earnings may not qualify for the full amount.

It’s also worth noting that the bill doesn’t repeal the taxation of Social Security outright. The income is still technically taxable—this new deduction just increases the likelihood that your benefits will fall below the taxable threshold.

This change creates new planning opportunities over the next three years—particularly when it comes to Roth conversions. In the past, some retirees avoided conversions because the added income pushed more of their Social Security into the taxable column. But with the expanded standard deduction now offsetting that impact, it’s worth revisiting whether a Roth conversion strategy could make sense for you.

Medicare Cuts on the Horizon

To help pay for the bill’s provisions, lawmakers included roughly $500 billion in projected cuts to Medicare, set to begin in 2027. Current benefits remain untouched for now, but future impacts could include:

Increased premiums
Narrower provider networks
Potential changes to coverage

Additionally, Medicaid reforms—such as work requirements for certain adults—may affect access to long-term care services in some retirement communities.

What This Means for You

If you're already retired—or starting to think about it—this is a good time to review your financial plan. The expanded deduction may provide welcome relief, but it’s important to understand how it fits into your broader income picture. And with potential changes to Medicare on the horizon, preparing now can help you navigate what’s ahead with more confidence.

As always, if you’d like help thinking through these changes or how they may apply to your situation, we’re here.

Much of our summer has been spent preparing for our upcoming Social Security seminars—which, in light of this new legislation, feel more timely than ever. If you have friends or family with questions about how these changes might affect them, encourage them to attend. We’ll be in Saint Marys on August 19th & 21st, and in Philipsburg on September 16th & 18th. More details to come soon!

Enjoy the warmth while it lasts—fall will be here before we know it. More thoughts from behind my desk in a couple weeks…

2Q 2025 recap & 3Q 2025 Outlook

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Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

The K Files: Retirement Edition
5 Years, 5 Lessons, and a Whole Lot of Gratitude

We’ve officially hit the five-year mark—and what a journey it’s been! Hitting this milestone is no small feat, especially when nearly half of small businesses don’t make it this far. When we started, failure simply wasn’t part of the conversation. We believed in the work we did, and more importantly, we believed in the kind of people we wanted to serve.

Five years later, thanks to your trust and support, we’ve built something we’re truly proud of. So, in celebration, we’re sharing five key lessons we've learned along the way.

1. Say Hello to The K Files: Retirement Edition
After five years of sharing insights and ideas with you, we thought it was time our newsletter had a proper name. The K Files: Retirement Edition reflects what this space has become—a way to share practical retirement knowledge, offer a glimpse into how we think, and maybe even spark a few smiles along the way. Whether we’re diving into Social Security strategies or just letting you into the thoughts rattling around in our heads, we’re grateful for your readership and all the kind words you’ve sent our way.

2. People Really Appreciate Education
In our industry, there’s constant pressure to “sell”—but we’ve taken a different path. We focus on educating first. Through our workshops on Social Security, Medicare, and estate planning, we’ve learned that when people feel empowered to make smart decisions, everyone wins. Sharing what we know builds trust, and that trust has opened doors to communities far beyond our own. (Warren, we’re looking at you!)

3. Clients Make All the Difference
The best part of this job? The people. We spend a lot of time with our clients—through emails, phone calls, and face-to-face meetings—and we’ve learned that surrounding ourselves with people who share our values makes all the difference. Working with clients we genuinely enjoy has made the past five years not only successful, but deeply rewarding.

4. Growth Happens One Layer at a Time
From day one, our strategy has been to go deep in one area, then expand. We started with healthcare, then built outward. Along the way, we’ve stayed focused on identifying real gaps our clients face—and finding meaningful solutions to fill them. Case in point: this year, we added Wealth.com to help clients create essential estate documents with ease, and it’s already making a big impact.

5. Teamwork Drives Momentum
As our business has grown, so has our need for great people behind the scenes. This year, we’re thrilled to welcome back our daughter Jenna, who’s joined the team as our Operations Manager and Medicare Specialist. She brings strong organizational skills and shares our passion for helping clients. It’s a joy to have her with us for this next chapter.

We're Just Getting Started
If the last five years have taught us anything, it’s that this work—helping people navigate retirement with confidence—is worth every bit of effort. We’re energized for the road ahead and incredibly thankful to each of you who has chosen to be part of our community.

We’ll be back in a couple of weeks with more insights from behind the desk. Here’s to the next five years—and to living your best retirement life.

Reflecting on the YTD Market Volatility & Recovery

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

Alzheimer’s is one of those words that can feel heavy. It touches so many lives—maybe even yours or someone you love. While there’s no cure just yet, there’s a lot we can do to support our brains as we age. This month, we’re focusing on small, realistic steps that may help protect memory and cognitive function over time.

Let’s take a look at some of the habits that can really make a difference.

Move Your Body—It Matters More Than You Think
Getting regular exercise isn’t just good for your heart—it's one of the best things you can do for your brain, too. Whether it’s walking the dog, gardening, dancing in the kitchen, or riding your bike, movement helps boost blood flow to the brain and encourages the growth of new brain cells. Try aiming for 30 minutes most days—but truly, any movement is better than none.

What You Eat Shapes How You Think
Food is fuel, and the right kind fuels your brain. The Mediterranean diet—rich in vegetables, fruits, whole grains, fish, nuts, and olive oil—has been shown to support memory and brain health. Omega-3s (found in salmon, walnuts, and flaxseeds) are especially helpful. And cutting back on processed foods, sugar, and saturated fats is always a good idea. Even just a few swaps can go a long way.

Stay Curious, Stay Connected
Keeping your brain active is just as important as resting it. Try picking up a puzzle, diving into a good book, or learning something new (that guitar you’ve been meaning to play still counts!). Staying socially connected matters, too—whether it’s chatting with a friend, volunteering, or just being part of something that brings you joy. Mental stimulation and connection build what's called cognitive reserve—a kind of mental buffer that helps keep your brain resilient.

Sleep Well, Stress Less
Here’s something that might surprise you: while you sleep, your brain actually clears away toxins linked to Alzheimer’s. So yes—those 7–9 hours each night really do matter. Managing stress helps, too. Whether it’s through yoga, prayer, meditation, journaling, or just pausing for a deep breath, calming the mind supports the brain long-term.

It’s the Little Things
There may not be a magic bullet for preventing Alzheimer’s, but healthy habits—built one day at a time—can help us feel sharper, steadier, and more in control of our well-being. Talk to your doctor about what’s right for you, and give yourself credit for every small step forward.

Here’s to sunshine, memory-boosting habits, and enjoying the season while it’s here.
More thoughts from behind my desk in a couple weeks…

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

June is Alzheimer’s Awareness Month, and I believe it’s important to take some time to reflect on this devastating disease. I bring this up for a couple of reasons. First, Alzheimer’s has been on my mind because of its genetic component—my grandmother had dementia. That family history makes me think about what I can do now to reduce my own risk. I know my mother thinks about it, too—she often points out when my father gets a little forgetful. He attributes it to aging and jokingly calls it CRS (Can’t Remember Sh*t). Still, it’s something I’ve been considering more seriously, and I’ll dive into that in my next email.

The second reason is a book I read last year called The Journey to Moccasin Falls: An Unflinching Account of an American Family Caring for a Loved One with Alzheimer’s Disease, written by one of our client’s families. It tells the story of their father’s battle with Alzheimer’s, uniquely using years of email correspondence to show how the disease affected their family. They published the book to raise awareness, and it left a lasting impression on me.

Let’s take a moment to understand the disease. Nearly 7 million Americans are currently living with Alzheimer’s. The statistic that really stands out is that 1 in 3 older adults dies with Alzheimer’s or another form of dementia. Peter Attia, in his book, calls it one of the “four horsemen” of disease that we should work to delay as long as possible—the others being cardiovascular disease, diabetes, and cancer. Between 2000 and 2021, deaths from heart disease decreased by 2.1%, while deaths from Alzheimer’s increased by 141%. It now kills more people than breast cancer and prostate cancer combined. Given these numbers, it’s clear we need to be informed and have a plan for prevention.

Beyond the statistics, what truly matters is the personal impact—both on the individual and on the family members who take on the role of caregivers. The Moore family, who wrote The Journey to Moccasin Falls, illustrate this with their honest account of navigating their father’s illness. One of their biggest takeaways was just how much work it was—even with five children dedicated to helping their parents maintain their independence. Just when they had everything set up to support their parents living at home, their mother unexpectedly passed away. A moment that really struck me was when Robin, one of their sons, took his mom to an appointment, unaware it would be the last time he ever spoke to her. It made me reflect—if we knew it was the last time we’d see a loved one, we’d likely make sure they knew how much they meant to us. But since we rarely get that opportunity, I’ve been trying to be more present in those everyday moments with family.

After their mother’s passing, the Moore family realized their father’s Alzheimer’s was far more advanced than they had thought. Their mother had been the one caring for him, unknowingly masking the full extent of his decline. This is a common scenario—when a spouse quietly takes on the caregiving role, it can make the disease appear less severe than it actually is. The family had to quickly shift gears. Their father needed 24-hour care, and they took turns staying with him at home until they could arrange placement. It made me think about how, as a society, we tend to keep these struggles private. But when it comes to diseases like Alzheimer’s, involving family members early on can make all the difference in preparing for the challenges ahead—mentally, emotionally, and logistically. I understand why we hesitate. Many of us are natural caregivers, uncomfortable with the idea of being the ones who need care. But Alzheimer’s doesn’t appear overnight—it starts with small signs that are easy to dismiss as normal aging. National Insitute of Aging has an article titled Helping Family and Friends Understand Alzheimer’s Disease, which offers helpful guidance on opening up these conversations.

In the Moore family’s case, four of the five children lived locally, so they focused on finding care that was accessible to all of them. Robin, who lived the farthest away, took on the legal and administrative tasks related to their parents’ estate. By dividing responsibilities, they made an overwhelming situation a little more manageable—though even with five dedicated siblings, it was still a massive challenge. For about three years, they coordinated their father’s care through email, ensuring someone visited regularly and handled doctor appointments. What shocked them most was how many other patients in the facility had little to no family involvement. Many rarely, if ever, had visitors. It made me wonder—if I ever find myself in that situation, will my kids be as committed to seeing me through it?

Through the emails, you get a heartbreaking glimpse into what Alzheimer’s does to a person’s mind. Every week, their father’s reality changed—one day, he was working with the FBI to hunt down bombs; another day, he was helping catch bears or directing passengers after a plane crash. The family coped by finding humor in these moments. Another recurring issue was dehydration, which led to frequent hospitalizations. They noticed that when their father drank enough fluids, he had fewer problems—but despite their best efforts, it was an ongoing struggle to keep his fluid levels up. One of the most profound aspects of their story was how they would occasionally get fleeting moments where their father seemed like himself again—only to watch him slip away right in front of them.

Alzheimer’s is a cruel disease—not just for those who suffer from it but for the families who lose their loved ones long before they pass. Right now, there’s no cure, no way to stop it, and no way to reverse its effects. That means our best option is to do everything we can to delay its onset for as long as possible. I’ll share more thoughts on that in my next email.

More reflections from behind my desk in a couple of weeks…

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Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

We spend a lot of time reading and researching how to help clients live their best lives. This platform gives us a space to share what we find interesting—and hopefully helpful in your own life too. What’s become increasingly clear is that much of this research is also starting to influence how we live. Our Kentucky Derby Party this year is a perfect example.

In the book Die With Zero, the author talks about how important it is to prioritize meaningful experiences. These are the things you'll remember most as you go through life. He shares how one of his big experiences was organizing a huge gathering on a Caribbean island for friends and family. That idea got us thinking—what could we do to bring together the people who play a role in our lives, the ones we’d truly enjoy celebrating with?

Somehow, we landed on the Kentucky Derby, which is hilarious because neither of us had ever watched the Derby before. But, like many things we do, we decided to just go for it. Today, I want to walk you through our thought process and the steps we took to create a fun event for everyone.

Our first move: delegation. I’m more of the vision guy, and Jill already has a lot on her plate, so it wasn’t practical for her to handle all the planning. That’s where Carmela—Jill’s mom—came in. She jumped into the planning process with full enthusiasm. As I write this, Jill and Carmela are enjoying a little spa time as a thank-you for throwing such an awesome party.

Carmela dove in, and the party committee (me, Jill, Carmela, and Gary) would meet during Sunday dinners to toss around ideas and discuss how we wanted the event to go. I had no idea how many decisions were involved. And the help didn’t stop there—Katie and Kyra tag-teamed the horse race prize system and made it run smoothly. As usual, I didn’t let my parents just show up and relax—they came up earlier in the week to help get the house ready. Then, during the party, they took the lead in socializing (lots of vacation talk!).

Laurie and Ron were a huge help getting the inside cleaned up and the lawn mowed—especially since our mower was down. Jenna took over running the bar all night, and when rain showed up in the forecast, her boyfriend Johnny came through with a canopy to cover the deck. As you can see, it took a village—and they all did an incredible job.

We also wanted to support local vendors we love. We gave Brown Dog Catering free rein to create a Kentucky Derby-themed spread, and they nailed it. Over the winter, I chatted with Ed, the brewer at The Dead Canary, about the party, and he dreamed up a Simler’s Saison just for the occasion. It’s now on tap for a limited time—and yes, it was excellent until the keg ran dry. Our prizes came from Angel Walk Winery in Allport, and Southbound kept the energy up with live music. Everyone we worked with was top-notch.

One of the bigger conversations Jill and I had was whether we wanted to allocate funds to this kind of event. It’s a question we all face: where do we spend our money to get the most meaningful return? Whether you're working hard or you're retired, the question remains—what do you do with the money you've earned? We had to consider: we can’t take it with us, and we don’t know what tomorrow holds. Could we afford it without derailing our long-term goals? In the end, we chose to invest in a day filled with connection, laughter, and joy with the people we care about.

Once the prep was done, it was party week. We discovered a little trick: a pre-party the night before to set everything up made the actual day more relaxing and fun. The party turned out just as we’d hoped. Everyone seemed to have a great time—even the dogs, who we’d been a bit worried about, handled it like champs. We had such a wonderful mix of people who have touched our lives in different ways—from our vet to our contractor—and a big shout-out to the St. Mary’s crew who took over the center of the party!

A few reflections: hosting is exhausting. It’s now Tuesday, and we’re just starting to get our energy back. Also, as a host, it’s tough to connect with everyone the way we’d like to. I love sitting down for good conversations, but when you're bouncing from one group to the next, that kind of connection is hard to come by. Also, nothing beats a good party shirt!

The party committee will reconvene at a future Sunday dinner to decide: is this the start of a new tradition, or do we want to reallocate those resources next year?

More thoughts from behind my desk in a couple of weeks…

Rising Policy Uncertainty Leads to Increased Market Volatility

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Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

At K Financial, our mission is to help you live your best life in retirement. We know that financial planning is about more than just numbers—it's about aligning your resources with your goals, values, and vision for the future. Whether you're nearing retirement, already enjoying it, or looking for long-term guidance, we’re here to help coordinate all aspects of your financial life under one roof.

Lately, we’ve been rethinking everything around retirement—and estate planning was one of the areas we knew needed a fresh look. It’s one of the most important components of any financial plan, but also one of the hardest to get done. Even with our help, scheduling appointments and getting everything finalized can turn into a drawn-out process.

That’s why we’re excited to introduce Wealth.com into our estate planning services. This modern platform blends cutting-edge technology with expert legal support to make estate planning more accessible, secure, and personalized.

Here’s how Wealth.com improves the experience:

Clarity and Confidence in the Planning Process

Estate planning can feel overwhelming, but Wealth.com makes it manageable with intuitive tools and easy-to-understand visuals. You'll gain a clear view of how your assets are structured and protected—without the legal jargon.

High-Quality Legal Documents, Done Right

Wealth.com streamlines the creation of personalized, state-specific legal documents—like Wills, Powers of Attorney, and Health Care Directives—quickly and accurately. Your plan will be built on a strong legal foundation, aligned with your wishes.

Your Plan, Secure and Always Accessible

With bank-level encryption, Wealth.com keeps your documents safe, organized, and within reach. You can view, update, or securely share your estate plan at any time—and allow trusted family members or executors to access it in an emergency.

Tailored to Your Life

No two lives are the same. Wealth.com customizes your estate plan based on your goals and evolving life events, offering meaningful recommendations and keeping your plan up to date.

Real-Time Insights and a Seamless Experience

Integrated directly into our broader financial planning process, Wealth.com offers proactive insights and a smooth user experience—ensuring your estate plan aligns with your overall financial strategy.

Planning with Peace of Mind

We believe estate planning should be empowering, not intimidating. With Wealth.com, you’ll gain a clearer path to protecting your legacy and making sure your wishes are honored. Whether you're starting fresh or reviewing an existing plan, this platform helps make the process simpler—and more secure.

We’re excited to help you complete these important documents and get them signed and in your hands—offering peace of mind for you, and for us. We've committed to walking with our clients through life and beyond, and that includes ensuring your legacy is passed on clearly and seamlessly to the next generation.

Over the years, I have built a strong network of Elder Law Attorneys. We will continue to collaborate with them, and I will keep attending meetings with my clients because these attorneys have provided outstanding support. The addition of this service is not intended to replace these valuable attorneys, but rather to serve as an additional tool to assist our clients in reaching their goals as they embark on their new journey into retirement.

More thoughts from behind the desk in a couple of weeks…

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Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

This email has been on my mind for a few months, knowing that tariffs were going to be implemented. Now that they’re here, it’s a good time to discuss predictions and forecasts. There’s an entire industry built around making predictions. Financial news and social media thrive on this content because we seem to love it. The world will keep giving us what we want because we keep watching and clicking on those headlines.

So, what do we do with all this information? How do we implement it when trying to predict the future? My advice: ignore it all and don’t use it to guide your investment decisions. It’s not that there aren’t knowledgeable people doing good work and offering valuable insights, but when we look back, the majority will be wrong, and only a small percentage will be even close to right. How will you know who’s closest to being right? The truth is, you won’t. That’s why you should approach following others' predictions and forecasts with caution.

I’ve been in many meetings where a client has asked my thoughts about a prediction they’ve heard. My standard response is, “Maybe, but the truth is we don’t know.” It’s the future—it’s all just a guess. Some of these are educated or data-driven guesses based on past events that might suggest what could happen in the future. While that can be helpful, there’s no guarantee it will play out as expected. We can’t predict what event in the future might change a perfectly data-driven forecast. Have you ever listened to someone explain why their prediction didn’t pan out? They’ll say, “Well, this unpredictable event happened, so my prediction didn’t come true.” So, what you’re really saying is that you can’t foresee everything that might happen in the future? Welcome to the club. The future is unpredictable and filled with unknown factors, which is why it’s called the “future”.

If the future is unknown, how do we prepare for retirement? We embrace that uncertainty and create a financial plan that accounts for it. We break down decisions into manageable timeframes to help reduce the risks of the unknown. If you have a major project, home improvement, vacation, or any purchase that will require funds within the next three to five years, those funds shouldn’t be in a position where they could lose value before you need them. If they are, you risk emotional stress if the market dips just when you need the money. You don’t want market fluctuations influencing your day-to-day life. If they do, you’ll experience a lot of ups and downs.

It’s highly likely that during your retirement, the market will experience a 20%, 30%, or even greater than 30% decline. History shows this. Take a look at the chart titled Markets Decline: A History of Recovery. Everyone would love to avoid these drops, and it would be great if we could get a heads-up about when they’ll happen. But no one knows when we’re at the top to sell or at the bottom to buy. Market timing doesn’t help your retirement plan because most of us will miss out on significant gains while trying to time the market, especially after big negative days. A solid financial plan acknowledges this and places the most at-risk funds in long-term investments, where time helps smooth out those inevitable ups and downs.

As Peter Drucker said, “The only thing we know about the future is that it will be different.” Today is different from yesterday, and tomorrow will be different from today. Tariffs represent a new approach to international trade, and we’ll have to see how things unfold. What we do know is that we can’t predict how it will play out. The real question is, “Do we believe in the resilience of the U.S. economy and U.S. corporations?” History shows that we tend to adapt when faced with challenges. There will always be bumps along the way, but we find new ways to move forward.

On a personal note, if you’re looking to get a jump start on spring cleaning or yard work, consider hosting a small gathering in May. We’re planning a party then, and it’s been a great motivator to get the house in order. It feels good to be ahead of schedule on yard work compared to previous years.

More thoughts from behind my desk in a couple of weeks…

1Q 2025 Recap & 2Q 2025 Outlook

Tariff Tantrum

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

We often go to great lengths to protect our possessions. We lock our doors, safeguard our investments, and guard our personal property with vigilance. Yet, when it comes to our most precious asset—time—we tend to be far less careful. I recently came across a quote from Seneca, the Roman philosopher, who wisely observed:

"People are frugal in guarding their personal property; but as soon as it comes to squandering time, they are most wasteful of the one thing in which it is right to be stingy."

This insight resonates deeply, especially for retirees, for whom time is both life’s greatest gift and its most powerful opportunity for fulfillment. I believe it’s important to continually reflect on this idea and share it with our clients.

One of the greatest advantages of retirement is the freedom to spend your time however you choose. The days of commuting, meetings, and deadlines are behind you, replaced by a world of possibilities. Whether it’s learning a new skill, traveling to dream destinations, or simply spending more quality time with loved ones, time should be treated as your most cherished asset. Take a moment to reflect on how you’re spending your days—are they aligned with what truly matters to you? If not, consider making adjustments to better reflect your priorities.

However, the luxury of unstructured time can sometimes lead to a paradox—idleness. Without the built-in routine that work provides, it’s easy to drift from one day to the next. While relaxation is essential, too much aimless time can lead to feelings of dissatisfaction and unfulfilled potential. The key is to strike a balance—structure your days with a mix of leisure and meaningful activities that keep you engaged and energized. Shake up your routine when needed to maintain a fresh perspective and avoid falling into a rut.

In retirement, it’s not about how much you do—it’s about what you do and how meaningful it is. Instead of filling your schedule with endless activities, focus on what brings you true joy and fulfillment. This has been a huge realization for me, personally. There are so many things I enjoy and even more that I’d love to do. But I’ve learned to focus on my true priorities, both in business and in my personal life. Doing fewer things, but doing them well, has brought me far more satisfaction than spreading myself too thin. For you, fulfillment might come from a passion project, community service, or simply spending a quiet afternoon reading. Life is too short to waste on things that don’t align with your values—quality always triumphs over quantity.

Retirement isn’t an end; it’s a beginning. Engaging in lifelong learning—whether through courses, reading, or new hobbies—keeps your mind sharp and provides a sense of accomplishment. Growth doesn’t stop with age. You are never too old to learn, adapt, and evolve. Investing time in learning ensures that each day holds purpose and meaning.

Time is the one asset that, once lost, can never be regained. As a retiree, you have the incredible privilege of choosing how to spend your hours. Be intentional. Prioritize activities that bring joy and fulfillment. And don’t be afraid to be stingy with your time—it’s the most valuable thing you own.

Take a moment to reflect: Are you spending your days in a way that truly fulfills you? Small changes could make a big difference. A fresh perspective might be all it takes to bring more meaning and joy into your life.

On a personal note, today marks the first time I’ll be swinging my golf clubs this year. My love for golf started when I was nine years old, thanks to my dad introducing me to the game. I can’t thank him enough for getting me out on the course at such a young age—it’s brought me a lifetime of joy. In my teens, 20s, and early 30s, I played frequently. But as life got busier, I found less and less time for golf. Over the past two years, I’ve tried to carve out more time, but summer always seems to slip away before I can play as much as I’d like. So, I’m holding myself accountable. I tend to ignore my inner voice when it comes to time management, so I’m making a public commitment: My goal for 2025 is to play golf once a week until the course closes in late fall.

Consider this a reminder—spring and summer will fly by. How will you make the most of every moment?

More thoughts from behind my desk in a couple of weeks...

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Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

Who doesn’t love to play Monday morning quarterback with their favorite sports team? We all do it—analyzing plays after the fact, convinced they should have done something differently. But do we do the same thing in our own lives? All the time.

Does that mean it was a bad decision at the time, or does it just mean we didn’t get the results we were hoping for? It’s hard to separate decisions from their outcomes. What we need to focus on is developing a strong decision-making process—one that allows us to confidently say the decision itself wasn’t the problem. The reality is, we can’t predict the future, nor do we control all the factors that determine the outcome. Sometimes, great decisions lead to bad results, and sometimes poor decisions lead to great ones. The danger is when we let good outcomes reinforce bad decision-making.

I think about this a lot in the context of retirement planning. I’d love to say every decision will work out perfectly, but that’s just not realistic. Life throws too many variables our way. A great example is choosing healthcare coverage each year. We have to balance the upfront cost of premiums against the unknowns of our future medical needs. If we go through a thoughtful decision-making process, we can at least feel confident in our choices—regardless of the outcome. Say you opt for a high-deductible plan because you’ve been healthy for years, only to be hit with an unexpected medical diagnosis. Sure, in hindsight, a lower deductible would have been better, but that doesn’t mean your original decision was wrong. It was a good decision that happened to lead to a bad result.

There’s plenty of information out there on structured decision-making processes, like "7 Important Steps in the Decision-Making Process." But let’s be real—most of us aren’t following a checklist for every single choice we make. Life doesn’t work like that. I don’t need a structured process to pick out a shirt at the outlet mall, but when Jill and I are making big decisions, we would be more inclined to use a structured process. Interestingly, we tend to fall into two extremes—we either decide quickly or take forever to move forward.

In retirement, it’s important to recognize which decisions require careful planning and which ones you can adjust over time. One of the most critical decisions—the one you need to get right the first time—is your income strategy, specifically Social Security and pensions. These aren’t decisions you can undo. I almost always advocate for delaying benefits as long as possible. My job is to think about your future self, and I’ve seen too many people in their late 70s and 80s struggling with the cost of living because they claimed Social Security too early. Yes, Social Security has a built-in Cost of Living Adjustment, but it often doesn’t keep pace. As for pensions, most max out at age 65, so delaying until then is usually the best move. These are the foundation of your retirement income, and getting these decisions right is crucial.

On the other hand, most other retirement decisions are flexible. Healthcare and tax planning, for example, naturally require reevaluation each year, giving you the opportunity to adjust. Of course, no one wants poor results, but if you go through a solid decision-making process, you’ll at least know that a bad outcome wasn’t due to a bad decision—it’s just how life works.

Estate planning is another area where decision-making can get stuck. The challenge isn’t necessarily making the right decision—it’s making any decision at all. Too often, people avoid it because they don’t want to think about their mortality. But in this case, making a decision is better than making none. The good news? You can always update your estate plan as your circumstances change.

Then there’s the big question: where do I put my money? With endless investment options and sales pitches promising incredible returns, it’s easy to get overwhelmed. But at its core, this decision comes down to your financial goals: Are you trying to maximize returns, which comes with more risk? Or do you want to ensure you have enough to live the life you want without running out of money? These are two very different approaches and should guide your investment strategy. That’s why we use the bucket system—to break things down into manageable parts and simplify the decision-making process.

Unlike some other financial choices, investments allow for frequent adjustments—though making changes daily isn’t advisable. However, there are exceptions, like annuities, which often come with surrender charges. These require extra consideration up front because they can impact your future cash flow.

At the end of the day, one of the most important things you can do in retirement planning is to take the time to make well-thought-out decisions from the start. In our firm, we recognize the importance of going through a thorough decision-making process before implementing any action steps. We want to try and make the best decisions we can, from the beginning. And just as important—commit to reviewing those decisions, at least annually, to determine if adjustments are needed.

More thoughts from behind my desk in a couple of weeks…

Understanding the Current Market Selloff

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

Here I go again, talking about a book I read—Adam Grant’s Think Again. However, this isn’t going to be about the highlights of the book or how we can incorporate his writing into our daily lives. Instead, it focuses on the concept of “rethinking.”

I wasn’t even a quarter of the way through the book when I thought, This is awesome; we should be looking at everything a second or third time. I realized I had already done this with annuities. I went from thinking they weren’t worth it, to considering that maybe they have value, to understanding that the real value isn’t necessarily what the insurance company is trying to sell (such as income riders—which do have tremendous value in the right situations). Now, we use growth annuities to generate safe returns in both our short-term and long-term financial buckets.

Being open to rethinking can offer a fresh perspective. Rethinking everything about retirement might become a common theme in these emails, going forward. However, today I wanted to start with the basics: retirement age. My new perspective? There shouldn’t be a retirement age at all—age shouldn’t matter.

Rethinking Retirement Age

What is the major driver behind what we consider the “optimal” retirement age? Government programs; Social Security begins at 62, and Medicare starts at 65. My whole life, I’ve thought of retirement as something that happens in your 60s because of these social programs that have been in place for 89 years. But when you really think about it, that’s insane. It would be like us deciding today, what a good retirement age should be for someone who hasn’t even been born yet—someone who will retire in 2114. We have no idea what the world will be like then or how long humans will live. Yet, we are still relying on age markers set by the government in 1935. That makes no sense. Their view of the world was entirely different than ours today. So why should we let a government program dictate when we leave the workforce?

Retirement should never be about age. Personally, I don’t even like the word retirement—it carries too much baggage. It suggests finality, as if life suddenly becomes a never-ending vacation. But retirement is a transition, not an endpoint. I just haven’t found the right word to replace it yet.

Instead of fixating on a specific age, we should be asking different questions when considering retirement. As I’ve been reflecting on this over the past few weeks, I’ve found a sense of peace in realizing that I don’t need to pinpoint a specific moment in the future when retirement must happen. Age doesn’t matter anymore—other factors will determine when that transition makes sense. It will happen because it fits into what’s going on in our lives at that time. Take my grandfather, for example. He retired from farming but never really retired—he was always building or refinishing furniture. I would love to ask him: Was it an age thing? Was it the physical demands of farming for so many years? Or did he simply want to do something different?

Questions to Consider Before Retiring

Now, this is the part where I say, Here are the seven questions you should ask yourself before retiring! That’s the kind of headline that gets clicks, right? But honestly, these emails are about working through ideas, starting conversations, and getting feedback to help us move closer to our goal of living our best lives. So, instead of focusing on a set retirement age, here are some preliminary questions to consider before making that transition. These will evolve over time as our thinking grows:

Have I accomplished all I wanted to in my professional life?
- If not, should retirement even be on the table?
- If I haven’t, does my current employment offer the best path to fulfilling this?
- What would I need to do to feel satisfied when I step away from work?
Are there other activities or life goals I want to pursue?
- Does my current work and lifestyle help me achieve them, or does it hold me back?
- If my job is in the way, is there a role within my current company that allows for more flexibility (such as a different position or part-time work)? Or do I need to explore other opportunities?
How are my physical and mental health?
- You know me—I believe in keeping our bodies in top shape for as long as possible. This is the number one path to living your best life.
What are my social connections outside of work?
- Maintaining social connections is crucial for both physical and mental health.
- Do I have a strong enough social network outside of work to support me post-retirement?
Do I have a long list of things I want to pursue and learn?
- Work naturally stimulates our minds. Once it stops, what will keep my brain engaged and challenged daily?
What are my family dynamics?
- This could mean caring for an elderly parent, spending time with grandchildren, considering my spouse’s career, or even where my children live.
Can my finances support my ideal retirement lifestyle?
- How can I even begin planning if I don’t fully understand my financial situation?

This is just the beginning of developing a meaningful list of questions—questions that actually matter—rather than relying on an arbitrary retirement age, set in 1935. The transition to retirement should never be about age. It should be about where we are in life and whether it aligns with our long-term goals. I’m excited about this shift in perspective. I love the idea of challenging my thought process and avoiding the trap of rigid thinking. We’re going to go through and rethink everything!

More rethinking thoughts from behind my desk in a couple of weeks…

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

We all have our routines and there is a lot of research that says that those routines are helpful to the body and mind. Throughout my time in this business, my routines have been somewhat lacking and my schedule has been all over the place. However, we are working to get more consistency in that, to take advantage of some of those benefits of routines and to make sure our priorities in life are reflected in our schedule. Today I want to chat a little about changing routines up a bit, in order to give yourself a fresh perspective. Being stuck in our ways can also cause us to not be open to different activities and information, and we could be missing out.
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As you all know, I take in a lot of information through podcasts and books. About a week ago, I stumbled upon some new podcasts that I was interested in following, that focus on running a financial practice. At that time, I also realized that my backlog of podcasts is overwhelming and I truly don’t have the capacity to add more to my list. Therefore, I was faced with a choice; continue with the ones I have listened to for years, (which have been tremendous in helping us to gather ideas to improve our practice), or unfollow those podcasts and start listening to some new perspectives. I chose to change things up and listen to the new ones. After all, we can’t implement new and different ideas if we don’t change our inputs.
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Why do I think this is something I should be writing about? Well, I feel like it provides a little spark to life when you view things from a different perspective. Doing so might even open our eyes to our blind spots, which we all have, especially when we haven’t looked outside of our sphere for a long time. I realized that when I changed my list of podcasts last week, I felt refreshed. I like the idea of starting something new and I was excited to hit play. Was the information a whole lot different than what I had been listening to for years? Not necessarily, but it was different enough to make me feel a little more enthusiastic about listening to the next episode. I began to feel like it’s “time to make the donuts” again.
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There are several articles out there that discuss the benefits of taking on a fresh perspective, regarding different aspects of your life. Changing Perspectives: 9 Tips for a Fresh Outlook on Life, dives into some of these benefits; personal growth, enhanced problem-solving skills, stress reduction and some others. I don’t think it can hurt any of us to take a fresh look at things once in a while. It challenges us to rethink certain thoughts or activities, which is good for the brain. Also, sometimes we are simply stuck in a rut and need to shake things up a little. 30 ways to change your perspective and improve your life will give you some ideas on how you might do that. Finding joy in the little things, surrounding yourself with positive people, accepting the things you cannot control and finding a new hobby are just a few of those.
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Now, how can this apply to retirement? Well, for starters, one concept I’ve learned in this field is that retirement lasts a long time. This is a great thing, and despite what I hear, I do not believe that you are ever too old to change. What I don’t think we realize is just because we’re in the later part of our lives, we still have a ton of life left to live. Therefore, it's probably a great time to reflect and take a different look at our lives. You have the time to put in the work to make some real changes. Previously, work and kids likely left very little time to dedicate to a fresh, new look at life. In that stage, most of us are moving from one thing to the next. However, now you have a lot more flexibility to structure your day how you want it to be. That being said, maybe this is the first aspect to evaluate: Reflect on how you choose to spend your day. Could you change a few things up and do something different? You might be surprised at the positive effects.

For me, this little change in direction gave that small part of my life a boost. So I thought, why not be more open to looking at things differently once in a while to make sure I am where I want to be and make adjustments as needed? Maybe by doing this, even just once in a while, we might be able to break out of the old and not get so stuck in our ways.
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This is a tough time of year; football is done, it is freezing out, and every time we plan something, the weather says no. Spring fever is starting to hit and I’ve even begun my seed purchasing for the year. Just a few more weeks. More reflections from behind my desk later in the month...
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Trump’s Tariffs: What They Mean for Markert’s
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Market Watch: Stock Rally as Market Leadership Shifts

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

This past Fall was full of healthcare planning. Let’s just say it was a rather difficult year for most, due to the changes in Medicare rules and the significant increase in pricing for Marketplace insurance. With regards to Marketplace insurance, clients had to either increase the amount they paid per month, take on a significantly higher deductible or choose a new insurance company with a limited network. Needless to say, no one was particularly thrilled about their new choices. When I am dealing with these issues, meeting after meeting, and even evaluating our own options, it sends me into research mode, trying to understand the United States Healthcare system (which seems impossible). However, I do want to talk about some of the reasons we are paying higher costs for healthcare than any other country.
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Healthcare makes up around 17.3% of our Gross Domestic Product. For reference, in 1960, it was 5% of our GDP. Therefore, you can see that healthcare has become a massive part of our economy and is creating a ton of jobs throughout the country. Private insurance kind of took off when they began to give tax incentives to employers and employers became the major payor of private insurance, thus driving the country to have a reduced need for public insurance (Medicare & Medicaid). When health insurance costs were lower, it was more practical for employers to cover a majority of these costs. However, as the healthcare system grew faster than the rest of the economy, it became increasingly difficult for employers to cover all of the costs. This has created a problem, because we are used to having a majority of costs covered. Now, we are seeing less of our paychecks because of the increase in those health insurance premiums, making it frustrating for everyone. Unlike the U.S., other countries do not have to deal with such problems, as they have healthcare through a public system (which isn’t free because they pay for it in higher taxes), and if you can afford it, you can get your own private insurance on top of that.
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Part of the reason that insurance prices are so high, is because health insurance is unlike other types of insurance, which insure against random, infrequent and catastrophic events. What I mean is, your home and auto insurance don’t pay for your furnace cleanings or oil changes, and yet health insurance covers the majority of our costs to see our primary care and specialist doctors (for non-random, frequent and non-catastrophic events). Therefore, it makes more sense to start looking at our health insurance as a discount card. Since our insurance companies are covering the majority of the costs for those that are insured, in a sector of the economy that already has higher than average inflation each year, you can see how that can have a compounding effect, resulting in continually higher premiums. The use of insurance isn’t even spread out evenly; five percent of the insured create about 50 percent of the healthcare expenses and 20 percent of the insured create 85 percent of the overall healthcare costs. This leaves the other 80 percent, that don’t use the healthcare system as much, to get frustrated about the amount they are spending each month for something they rarely use.
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We are Americans and we believe in choices with immediate access. However, the best way to increase prices is to start adding tons of choices to a system that is growing faster than the rest of the economy. Just in the area I work, two new hospitals have been built: Penn Highlands in State College, and Geisinger, in the Williamsport area. Were they needed? I’m not sure, but because we want choices, it made sense to those companies to have a presence there. Those are massive infrastructure investments that do find their way down to us, in the form of increased healthcare costs, which again, leads to higher premiums to cover those increased costs.
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In this country, we are also the leaders and drivers in the world for innovation in procedures, devices, and drugs. Because of this, we pay a price. With other countries having major public health systems, they can control the pricing of new drugs and devices that come on the market. Basically, a country can say to the U.S. companies, if you want access to our market, this is what you are allowed to charge our consumers. As we know, that’s not how it goes here. New prescriptions have a huge cost when they first hit the market. We don’t have price control here because of a complicated system that includes Pharmacy Benefit Management in the middle of everything. Therefore, we are taking on a majority of the world's costs to improve human life and increase lifespan through drugs and devices. These drugs and devices make up a third of our healthcare costs and that is only going to increase due to the upcoming line of Biotech infused drugs.

This last one is on us. We have had an explosion in obesity and type 2 diabetes in the last 60 years. In the 1960s, 13% of adults were considered obese–now that number is around 43%. All of that extra weight puts a lot of demand on the body, which leads to more healthcare needs. Then, add in when I was born, in 1971, 1% of the US population had type 2 diabetes. That number is now up to 12%, today. We are not a healthy country and instead of living healthier, we are looking to pharmaceuticals to help change the trends. More money is flowing to create new drugs (see above) as a remedy. On top of that, the American diet looks to feed our country at the cheapest cost possible. It has resulted in much poorer overall health for us, again, leading to increased healthcare costs.
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Unfortunately, I don’t see anything stopping us from increasing the four trillion dollars we spend on healthcare each year. I also don't see any momentum behind a major overhaul to change how we want our healthcare to be. If any major overhaul did come along and reduce costs, it would likely result in many job losses, also, which would affect our economy negatively.
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I continue to try to find solid, affordable solutions for my clients. This has had a major impact on our family as well, and we had a problem finding decent options to turn to this year. What I've concluded is that we have to do everything in our power to live a very healthy life, if we want to keep our overall healthcare costs down.
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If you want to listen to a more in-depth conversation focused on our Healthcare system, check out this Podcast:
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Choices, costs and challenges in US healthcare: insurance intricacies, drug pricing, economic impacts and potential reforms

More thoughts from behind my desk in a couple of weeks…

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

Important Disclosures Regarding Email Communications

Now that the holidays are over, it’s time to get back on track and back to doing the work to help you live your best life in retirement. Remember, when we are planning for retirement, we are making important decisions that are going to affect the rest of our lives, with incomplete information. I say this all the time but it needs to be reinforced so that we can plan appropriately, but at the same time, leave flexibility in those plans. We do not know the future of your health, healthcare, the economy, tax rates, investment performance, inflation, and we definitely do not know how long you're going to live. These are only a few of the items that need to be addressed and I already have email ideas for the topics in bold, bouncing around in my head. Today we are going to tackle the topic of estimating how long you are going to live.

My father-in-law was giving me a hard time about quoting him in my last email, regarding his pessimism when it comes to his future life at 90 years old. Therefore, I figured I would pick on him some more, today. He's 59, so he’s in the process of planning for his time after he is done working. Well, fortunately (or maybe unfortunately, because I keep talking about him), he has someone around that deals with this every day and we get into some discussions at Sunday dinners. In thinking through his future, he was planning around the average life expectancy of a male in the US; 74.8 years old. However, he was underestimating his life expectancy because 74.8 takes into account males of all ages, including those that have already passed away. What you really need to be looking at, is what the life expectancy is for an individual of your gender and race that has already attained your same age. In his case, the average life expectancy of a white male, that is 59 today, is 80.8 years old. That’s a six year difference, which is a HUGE difference when you are planning your financial future.

In the planning process, we have to put a number on how many years we think we are going to live. No matter what information we include in our estimate, knowing an exact age that we will live to is truly impossible. However, we need a starting point to help guide us now, with our decision making. My default age for planning is 90 for males and 95 for females. (Through discussions regarding family history, we adjust those numbers, individually.) I generally like to overestimate, though, as underestimating can create problems with our financial plans. Now, I also like to use the American Academy of Actuaries USA Longevity Illustrator to give us another piece of the puzzle. It asks a few basic questions; age, gender, retirement age, smoking and health (poor, average, excellent), to give you the probability of living to a certain age. Using the Longevity Illustrator for my father-in-law, gives him a 55% chance of living to 85 years old and a 34% chance of living to 90 years old. That means that over half of the males alive in the U.S., that are 59 years old now, will live past 85, and who knows who will end up on which side of that number. Clearly, using the “average” alone, doesn’t give us the whole story. What is the probability that you will live past the average? As you can see, we really need to think through this when we are setting up long-term plans.

Now, add in another factor to consider; we spend more money in the first part of our retirement than we do in the later part of retirement. We’ve been dreaming of that day and (hopefully) developed some plans to do all the things we want to do, once our primary obligation is not showing up to work. Those plans usually require spending some of that money you have saved, which you know, I encourage. Here are two models as to how this plays out in real life: Retirement Spending Smile and Retirement Spending Stages.

Under the Retirement Spending Smile model, the thought is that you spend more money in the first part of retirement and that number decreases as you go through retirement. It will then rise again, later in life, as you are prone to dealing with more health problems. With the Retirement Spending Stages model, you have three different stages in retirement: The “go go” years, the “slow go” years and the “no go” years. These stages reflect how our bodies are changing throughout life and how those changes have an effect on your spending. I use this model (Retirement Spending Stages) in our Retirement Planning Software.

Maybe your life doesn’t play out like either one of those models. That’s okay. What we are trying to do here is get a general idea of how to think through these processes. Just remember, you want to be smart about the information you choose to use for the basis of your planning, so that the output will be as accurate as possible. Obviously, my father-in-law will have different spending allocations living to 75 years old versus living to 85 years old, and he wants to be mindful of that so that he doesn’t run out of money that is available to him. That is why it is so important to take the time at the beginning, to get the most realistic picture of your future, (with the understanding that it could be completely wrong and we won’t know if we made the right choice until well after the fact).

I am not a New Year’s resolution type of person. Instead, I like to make changes in my life throughout the year, when I realize something needs improvement. That being said, I keep telling Jill that “2025 Greg” is going to be awesome. She has seen this game before and doesn’t have high expectations, but it is fun to dream about how I am going to rock the year. Hopefully all of you have had an amazing start to 2025. More thoughts from behind my desk in a couple of weeks...

Brookstone Market Outlook

Greg Korn, CFP® President & Investment Advisor Representative

Toll Free: 833-788-0404

Fax: 814-357-9070

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Address

207 Main St
Ridgway, PA 15853

308 Walton Street, Suite 3
Philipsburg, PA 16866

CONTACT US

Local: 814-248-3026

Toll Free: 833-788-0404

Fax: 814-357-9070

EMAIL

begin@kfi.life

The K-Files: Retirement Edition 2025

Address

207 Main St Ridgway, PA 15853

308 Walton Street, Suite 3Philipsburg, PA 16866

CONTACT US

Local: 814-248-3026

Toll Free: 833-788-0404

Fax: 814-357-9070

EMAIL

begin@kfi.life

207 Main St
Ridgway, PA 15853

308 Walton Street, Suite 3
Philipsburg, PA 16866