My Own Money

07/02/2026

Major student loan changes are set to take effect July 1, bringing updates to borrowing limits, repayment options, and federal aid eligibility.
New rules will limit how much some students and parents can borrow. Parent PLUS loans will be capped at $20,000 per year and $65,000 total per student, while new caps will also apply to graduate and professional degree borrowing.
Repayment options are also changing. New federal loan borrowers will have fewer choices, with options narrowing to a tiered standard repayment structure or a new income-driven option called the Repayment Assistance Program.
Borrowers currently enrolled in SAVE may also need to choose a new repayment option, with loan servicers expected to send notices about next steps.
Pell Grant rules are changing as well, including expanded eligibility for some short-term workforce training programs.
For borrowers and students, the takeaway is simple: watch for communications from loan servicers, confirm contact information is current, and review available options before deadlines arrive.

Source:

Loan revamp affects how much students and families can borrow to pay for college, as well as their repayment options.

06/30/2026

Work another year? It may be worthwhile.

06/26/2026

A few days at Dismal River with the JFC Advisor Network was a wonderful reminder of the value of stepping away from the office every now and then.

Great conversations, meaningful relationships, beautiful scenery, and time to reflect made for a memorable week.

Looking back over the past year, we’re grateful for how much My Own Money has grown and evolved, and we’re excited for what’s ahead.

Thank you to Kara for keeping everything running smoothly while I was away. It’s always good to come home refreshed and ready for weeks ahead.

06/25/2026

🎁 Understanding Financial Gift-Giving: The Smart Way to Share Wealth 🎁

Swipe through to learn how you can give financial gifts!

1️⃣ Tax-Free Gifting Up to $19,000 Per Person
In 2026, you can give up to $19,000 per recipient tax-free. Stay under this limit to avoid filing with the IRS.

2️⃣ Unlimited Recipients
Feel free to spread the love! There's no limit on the number of people who can receive an annual gift. Perfect for those looking to help make a difference in someone's life. 💌

3️⃣ Married Couples: Double the Impact
Married? You can gift up to $38,000 per recipient annually, doubling your impact. 💑

4️⃣ Lifetime Exemption: The Big Picture
Beyond annual gifts, your lifetime exemption in 2026 is $15 million. 🌟

5️⃣ Gifting Isn't the Only Approach
Paying directly for qualified tuition or medical expenses? These don't count as gifts, but we would encourage you to speak with your tax, legal, or accounting professional if this approach is part of your strategy. 🏥

🔍 Let's Make This Easy
Gift-giving can be complex, but it doesn't have to be. Understand the rules and realities, and make sure your strategy aligns with your long-term goals. 💡

Ready to strategize? Call us today. 📞

06/23/2026

Retirement gives you time.

A lot of it.

And while that sounds freeing, it can also feel overwhelming at first.

When you're working, much of your day is structured. In retirement, you decide what today looks like.

Some people find it helps to create a little rhythm:
▪️A weekly volunteer day
▪️Lunch with friends
▪️A standing class
▪️Mornings reserved for exercise or hobbies

Not to recreate work — just to have something to look forward to.

Freedom often feels better with a little shape.

06/21/2026

Happy Father's Day to the amazing dads, stepdads, granddads, and all father figures who embrace the adventure of fatherhood with open hearts and open arms.

Whether you're exploring the world through imaginative play, offering sage advice, or simply being there with love and support, your impact is immeasurable.

Here's to the explorers, guides, and heroes in our lives—thank you for making every day an adventure.

06/18/2026

Extended care is one of the biggest wild cards in retirement.

Costs vary by location, care type, and health needs—but they've all been rising faster than many realize.

These five insights can help you understand what drives costs and why they often catch retirees by surprise.



Sources:
CareScout, Cost of Care Report, July–December 2024
AALTCI, Long-Term Care Insurance Statistics & Data 2025
EBRI/Greenwald, 2025 Retirement Confidence Survey, April 2025

06/16/2026

A growing number of Americans are carrying credit card balances, highlighting ongoing financial pressure for many households.

Recent data shows that about 50% of credit card holders—roughly 111 million people—currently carry debt, marking a notable increase over the past several years.

At the same time, borrowing costs remain elevated. Average credit card interest rates are now above 23%, making it more expensive for balances to grow over time.

Some households are adjusting by cutting back on discretionary spending, delaying larger purchases, or relying more heavily on credit to cover everyday expenses.

These trends reflect how shifts in costs, interest rates, and income can influence day-to-day financial decisions across a wide range of households.


Source:

About 111 million Americans are carrying credit card balances, a 17% increase in five years, new research shows.

06/12/2026

A few days in New York this week for LPL’s Independent Advisor Network Growth Forum.

Good conversations, fresh perspective, and a reminder that the best financial advice is built on strong relationships and thoughtful planning. Looking forward to bringing a few new ideas home to My Own Money.

06/11/2026

The cost of raising a child in the U.S. continues to rise, reaching a new milestone in recent estimates.

A new analysis puts the total cost at approximately $303,000 through age 18, or about $16,800 per year on average.

These figures include everyday expenses like housing, food, and childcare, but do not account for college costs, which can add significantly more over time.

Costs can also vary widely depending on location. Some states saw notable increases, while others experienced slower growth in certain child-related expenses.

While the overall total has increased, some categories, such as early childcare, have shown signs of stabilizing in recent data.

As costs evolve, these trends offer a broader view of how family-related expenses are changing.


Source:

Raising a child through age 18 is most expensive in Hawaii, where a family would spend an estimated $412,661 in 2026, LendingTree found.