Center for Wealth Management

Turning 59 isn’t just another birthday. It can be one of the last opportunities to meaningfully boost retirement savings before the focus shifts from accumulating money to using it wisely.

- Know where you stand: Benchmarks can help, but your real target depends on spending, health care, Social Security, and lifestyle goals.
- Use catch-up options: Higher contribution limits can help late-career savers make the most of peak earning years, especially before retirement begins.
- Plan for withdrawals: Staying invested, building a cash buffer, and timing Social Security can all affect how long savings last.

See what financial advisors say to review in the years just before retirement:

How Your Retirement Savings at 59 Stack Up Against Expert Targets and National Averages Age 59 can be a key turning point, when the focus shifts from building savings to planning withdrawals. See how your retirement nest egg compares to others this age.

Teaching your kids about money could save you from future financial headaches. Experts suggest discussing spending habits, offering allowances, and even turning savings into a competition. Learn creative ways to make finance fun for children:

10 Ways to Teach Your Kids About Money, According to Financial Experts Set your kids up for long-term financial success by teaching them early about money.

May was a strong month for investors, with major indices reaching record highs, earnings beating expectations, and gains broadening beyond big tech. Watch the latest Market Thoughts video from Commonwealth to learn what this could mean for portfolios:

Market Thoughts for June 2026 [Video] In his latest Market Thoughts video, Chris Fasciano explores the economic and market landscape, including what investors can expect in the months ahead.

Not all inheritances are gifts—some assets can burden your heirs with hidden costs and family feuds. Without careful planning, assets meant to help your family could instead become a burden:

• Plan early: Work with an estate attorney to identify assets that may cause complications—like timeshares or businesses—and decide how to handle them.
• Talk it out: Discuss your wishes with heirs now to prevent conflict and confusion later.
• Keep it simple: Cash and investment accounts are easiest to divide and least likely to spark disputes.
Source:

7 Things You Should Never Leave to Your Kids or Grandkids Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.