Paragon Financial Planning, Inc.

05/08/2026

Stocks surged in April, delivering their strongest monthly gains in five years as solid economic data, easing geopolitical tensions, and upbeat first-quarter earnings lifted investor sentiment. The Nasdaq climbed 15.29%, the S&P 500 rose 10.42%, and the Dow gained 7.14%, while Canada’s S&P/TSX Composite added 3.65%. With no Fed meeting in May, attention turns to remarks from Fed officials and how evolving economic data may shape expectations moving forward. From \$34.1 billion in U.S. spending to the popularity of Mother’s Day dining and gifts, this month’s By the Numbers highlights how families celebrate the occasion.

Stocks surged in April, notching their best month in five years as investors cheered upbeat economic news, efforts to lower tensions in the Middle East, and first-quarter results.

01/30/2025

Can you guess 5 big financial mistakes Gen Z appears to be making?

As this generation steps into financial independence, some trends are emerging that highlight potential blind spots in building wealth.

As financial professionals, it’s our job to stay aware of these habits. We thought sharing these insights might be of interest:

💼 Skipping the budget
Small expenses, such as coffee runs, food deliveries, ridesharing, and streaming subscriptions, add up quickly!

🎲 Taking on debt without a clear strategy
Balancing student loans and credit card debt can be challenging without a solid approach.

💫 Missing out on employer match contributions
Employer matching is essentially free money—a valuable opportunity that some are leaving on the table.

📱 Leaning heavily on social media for financial guidance
Not every “finfluencer” has sound or personalized insights, and financial strategies aren’t always one-size-fits-all.

🚫 Playing it too safely
While avoiding investments can seem like the best approach, that may be a risk in itself. Without a financial strategy, they may miss out on long-term growth opportunities.

These mistakes offer a glimpse into the financial challenges facing the next generation. What are your thoughts? We are always interested in hearing different perspectives!

01/28/2025

💬 Did you know that the Social Security death benefit has remained at $255 since 1954 despite increases in funeral costs over the decades?

However, the Social Security Survivor Benefits Equity Act proposes raising the one-time payment to $2,900 starting in 2025, with annual inflation adjustments thereafter.

The bill is currently under consideration in Congress and may be considered again at a later date.

One important reminder: Eligible spouses or children must apply to receive this benefit—it isn’t automatic.

If you have questions about Social Security benefits or preparing for unexpected expenses, let’s connect.

01/23/2025

🚨 Major changes ahead for non-compete agreements—but the impact may be more nuanced than it seems.

The Federal Trade Commission (FTC) has pushed for abolishing non-competes, but there’s an important detail: the role of states.

Here’s what to know:
▪️While the FTC’s proposal is broad, state laws and enforcement remain crucial. Even if finalized, states may challenge or interpret the rule differently, adding complexity.
▪️High earners with existing non-competes could see new career opportunities—or ongoing restrictions—depending on state responses.
▪️Executives must rethink strategies to protect trade secrets, client relationships, and competitive advantages without relying on non-competes.

It’s not a simple “ban and done.” Federal and state dynamics will shape the outcome, making a proactive strategy essential.

What can you do now?
▪️Review existing agreements and explore alternatives, like non-disclosure agreements or non-solicitation clauses, to safeguard your interests.
▪️Stay informed and engage with legal and human resource teams to prepare for potential shifts in how your agreements are governed.
▪️This update is not a replacement for real-life guidance. Consult a legal professional before making any changes.

What do you think about non-competes and the FTC's actions?

01/20/2025

"The arc of the moral universe is long, but it bends toward justice." ✊🏿✊🏾✊🏽✊🏼✊🏻

Dr. Martin Luther King Jr.'s legacy isn't just history—it's a call to action we carry forward. His vision of dismantling systemic inequality and building communities rooted in respect, love, and diversity guides us today. Each of us has the power—and the responsibility—to work toward the equitable world he imagined.

Every effort, big or small, helps bend the arc in the right direction. 🕊️

01/18/2025

💳 Have you ever wondered whether you’re getting the most reward points possible from your credit card spending?

Many of us have been using the same credit cards for years. We may have originally chosen these cards for airline miles and hotel points, but it's worth looking at how these reward programs can help you save money.

Here are a few tips that can help you make the most of your credit card rewards:

▪️Use different cards for different types of spending: Choose cards whose rewards align with your biggest expenses, such as groceries, travel, and dining out.
▪️Transfer points strategically: Sometimes, transferring your points to airline partners can give you more value than redeeming them directly.
▪️If you're getting a new card, research sign-up bonuses: Cards typically offer various bonuses when you sign up. Compare offers to make the most of your decision.
▪️Power up your points: Remember to shop through reward portals and sign up for all available benefits and targeted offers.

Services like Point.me can help you assess your current cards, offer tips on increasing your points, and find deals on travel using points.

Small adjustments can add up!

01/16/2025

💡 Think you know everything about Social Security? These facts might surprise you.

Social Security may seem simple, but it has complexities that could greatly impact your retirement. Here are some surprising insights:

1️⃣ Beyond Retirement: It's not just about retirement—Social Security includes life and disability insurance. For a young worker, this can mean nearly $948,000 in life insurance value, with 90% of workers having some disability coverage.

2️⃣ Delay Pays Off: Delaying benefits past full retirement age boosts your payout by about 8% per year until age 70. But the right timing depends on your health, work, and overall strategy.

3️⃣ Inflation Protection: Benefits are adjusted annually for inflation through Cost-of-Living Adjustments (COLA). The 2025 COLA is 2.5%, following significant increases in recent years.

4️⃣ Tax Surprises: Depending on your income, up to 85% of your benefits may be taxable, affecting your retirement cash flow.

5️⃣ Spousal Benefits Matter: Even if your spouse hasn't worked, they may be eligible for up to 50% of your benefit. Survivor benefits can also be crucial for your family's financial strategy.

6️⃣ Market Buffer: Social Security provides stable income regardless of market performance, helping cover basic expenses during market downturns.

7️⃣ Lifetime Value: A single person with maximum earnings turning 65 in 2025 could receive $634,000 over their lifetime. For a one-earner couple? Over $1 million!

8️⃣ Income-Based Medicare Costs: Higher earners (above $103,000 individual/$206,000 couple) pay increased Medicare premiums.

9️⃣ International Benefits: Benefits are payable in most countries, though Medicare coverage abroad is limited.

🔟 Windfall Alert: Government pension recipients may see reduced benefits due to the Windfall Elimination Provision.

Why It Matters: Social Security is more than a safety net—it's a strategic retirement asset. Understanding these nuances can help you maximize your benefits.

Want to discuss how Social Security fits into your financial future? Let's connect.

01/13/2025

🤔 About a third of 401(k) rollovers end up sitting in cash for over seven years.

The cost? Roughly $172 billion in missed growth potential every year, according to a July 2024 report in The Wall Street Journal.

Most surprising fact:
Many people don't realize their rollover isn't automatically invested, especially younger savers who may be missing years of compound growth.

The Reality Check:
👉 Stocks have historically earned 7.19% after inflation.
👉 Stocks are represented by the S&P 500 Composite Index, an unmanaged index considered representative of the overall U.S. stock market. Index performance is not indicative of the past performance of a particular investment, and individuals cannot invest directly in an index.

Make sure your rollovers are not missing out on any potential opportunities.

Once you turn 73, you must take the required minimum distributions (RMDs) from your 401(k) in most cases. Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59½.

01/09/2025

🚨 Do you think estate management is just for the wealthy or older generations? Let’s debunk that myth.

Estate management isn’t about age or wealth; it’s about starting to protect your wishes and loved ones.

3 Steps to Consider:
▪️Healthcare Directives: Unexpected events can happen at any age. A healthcare directive takes effect when you are no longer able to make your own healthcare decisions.
▪️Financial Power of Attorney: Designating someone to resolve your finances if you're incapacitated. It’s designed to help manage legal complications so that your affairs are handled according to your wishes.
▪️Access to Accounts: In today’s digital world, decide who will have access to your online accounts to prevent future challenges for loved ones.

It’s not just about wealth or age—it’s about helping protect what matters most and preparing for the unexpected.

What can you do now?
▪️Start with the basics: Consider setting up a will, setting up healthcare directives, and assigning a financial power of attorney.
▪️Consult a professional: Consider working with a legal professional to create a strategy that fits your unique situation and can evolve as your life changes.

Have questions or think you're too young for this conversation? Let's discuss why preparation is essential, regardless of age or wealth.