Blog

Monument Group shares practical insights on retirement income planning, wealth management, tax preparation, estate planning, and wealth preservation for families in Concord, Massachusetts, and the Greater Boston region.

Wednesday, August 6, 2025

If you’re lucky, summer has been a chance to unwind, catch up on beach reads and spend quality time with family and friends before the familiar rhythm of fall resumes. But what happens when there’s no routine to return to? For many, that’s

Tuesday, July 15, 2025

After closing out an eventful second quarter of 2025, we are reminded that investing is a long journey. A journey marked by short-term turbulence and long-term opportunity. This quarter brought a particularly meaningful moment in the...

Tuesday, July 8, 2025

Congress recently passed a sweeping tax and spending policy bill with lots of long-term implications. Much of the news coverage has focused on its difficult legislative path and the potential political, economic and social consequences...

Sunday, June 15, 2025

Over the course of your investing life, you’ll encounter market lows and highs. Headlines often spotlight the extremes, especially when markets reach record levels. Take, for example: “Stocks Hit Record Highs. What’s Behind the Rally...

Tuesday, April 15, 2025

Wisdom Is Quiet. Fear and Greed Are Loud. If you’ve glanced at a newspaper, a website, or your phone lately, you’ve likely encountered bold headlines about markets, inflation, interest rates, elections, wars, and predictions of what’s...

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Tuesday, April 15, 2025

As spring arrives and the weather warms up, many people turn their attention to cleaning out closets and organizing their homes. According to a recent survey, about 80% of Americans have spring cleaning on their radar this year.1 While...

Monday, April 7, 2025

Tariffs Spark Market Turbulence On April 2, President Trump announced new tariffs on nearly all major trading partners. While the White House had widely telegraphed the move, the level and scope of the tariffs exceeded expectations...

Wednesday, March 5, 2025

Trade headlines continue to weigh on markets as new tariffs go into effect. President Trump recently confirmed tariffs on Canada, Mexico and China, dashing hopes of more extensions or last-minute deals. Additional tariffs are expected...

Tuesday, February 25, 2025

Recent market swings have highlighted a gap between how investors feel and how markets have performed. As the famous Warren Buffett quote suggests, it has often been wise to be "fearful when others are greedy and greedy when others are...

Friday, February 21, 2025

Albert Einstein reportedly once told his accountant, "the hardest thing in the world to understand is income taxes." This observation from the Nobel Prize-winning physicist remains relevant today, as our tax system has only grown more...

Wednesday, February 19, 2025

This April marks the 250th anniversary of the first battles of the American Revolution in Lexington and Concord. As residents of New England reflect on this pivotal moment in history, it’s worth considering what made the patriots...

Thursday, February 6, 2025

Retirement marks the beginning of an exciting new chapter—one filled with opportunities to explore passions, deepen relationships, and enjoy the freedom you’ve worked so hard to achieve. While financial security is a key foundation, a...

Saturday, January 11, 2025

The final quarter of 2024 was nothing if not eventful. The Federal Reserve lowered interest rates, providing further relief to borrowers and markets alike. The U.S. election captivated national attention and has sparked uncertainty...

Thursday, January 9, 2025

When are you going to retire? How did you make that decision? Many of us look at finances and health when we’re deciding when to retire. Whether or not we realize it, we’re also considering our emotions and what we imagine for the...

Thursday, January 9, 2025

Watching your portfolio take a hit can be unsettling, but staying focused on the long game is crucial. Even in uncertain times, a long-term strategy helps you navigate market ups and downs more effectively. Here, we’ll explore why...

Thursday, December 19, 2024

What financial habits have helped you most in life? Which ones have held you back? No matter how you answer those questions, your money habits have a lot to do with how you grew up.1 They also can be shaped by when you grew up. That’s...

Wednesday, November 6, 2024

After a historic campaign, Donald Trump has won the 2024 presidential election and Republicans have won control of the Senate. For half the country, this is a cause for celebration, while for the other half, this is a disappointing...

Tuesday, October 22, 2024

Well, it finally happened. After months of will-they-or-won’t-they speculation, the Federal Reserve cut interest rates in September. And it was a relatively big one: The half-percentage-point decrease was the biggest the Fed has made...

Monday, September 30, 2024

As we begin the final quarter of the year, financial markets and the economy have defied the expectations of many investors. Rather than falling into recession, the economy has grown steadily, albeit at a slower pace, and inflation...

Friday, August 30, 2024

Can you relate to any of the following? “I should have bought that stock before the company went public!” “What a shame — I wish I had invested in that new tech before it went mainstream!” What’s the next “unicorn” that will make a...

Tuesday, August 20, 2024

As a long-term investor, you’re always thinking about what factors drive your investment returns. Unfortunately, many investors focus on things that cause short-term changes and actually have no impact on long-term market returns. It’s...

Monday, July 22, 2024

Does the current investment climate feel “busier” than usual? In the U.S., it’s an election year, with the usual election rhetoric and high-stakes alarmism across the board. Elsewhere, global economic orders may be reshuffling as...

Monday, July 15, 2024

Lee McGowan, CFA, CFP® recently discussed Trusts with Deborah Yao of Kiplinger. Revocable Trusts vs. Irrevocable Trusts: What You May Not Know

Monday, July 8, 2024

First, let’s start by uncovering the most common mistake in estate planning… Surprisingly, this frequently made mistake might already be on your doorstep. A staggering number of people haven’t yet started an estate plan. It’s a...

Sunday, June 30, 2024

A Helpful Guide on the Different Types of Powers of AttorneyA power of attorney (POA) can grant you certain authority and specific responsibilities. While the extent and limitations of POAs can vary based on many factors, stepping into...

Wednesday, June 19, 2024

If charity is part of your legacy plan, the best time to start giving back could be right now. Spending on other people is one of the most rewarding ways we can use our money. And seeing your generosity in action might give you some...

Saturday, June 8, 2024

In a 2009 essay that was very influential in business circles, Paul Graham of Y Combinator tried to figure out why workers at different levels of the same organization struggled to stay on the same meeting schedule. His conclusion was...

Tuesday, June 4, 2024

How many years will your retirement last? What are the chances you’ll live past 90? Most of us answer those questions wrong because we don’t have strong longevity literacy.1 That means that about 81% of us1 aren’t working with a viable...

Saturday, June 1, 2024

Mastering Stormy Waters: Smart Strategies for Healthcare Costs in Retirement Dreaming of your retirement often brings images of sandy beaches, extra time with family, or perhaps finally writing that novel. But beyond the peaceful...

Wednesday, May 22, 2024

Very few people stop learning once their formal education is over. Whether you took a few classes to burnish your professional credentials or collaborated with coworkers to bring projects across the finish line, learning was probably...

Tuesday, May 7, 2024

Many retirees organize their new schedules around their hobbies and interests. Rather than squeezing all your practice and learning into off hours and weekends, you can now invest more of your time into the activities that will make...

Sunday, May 5, 2024

Believe it or not social media scams have been picking more pockets than any other scam today––including phone call and text fraud.1 There have been more than $2.7 billion in losses to social media scams between January 2021 and June...

Thursday, May 2, 2024

For many people, buying a home fulfills a dream that's tied to important personal, professional, and financial goals. The feeling that they would be abandoning that dream can be a big reason why homeowners resist the idea of downsizing...

Friday, April 12, 2024

Until recently, much of our investment advice has emphasized the importance of maintaining your investment strategy, even when it’s tempting to jump out during market declines. Year to date, tables have been turning. Not only have many...

Friday, April 5, 2024

Each quarter, we draft a quarterly letter and share thoughts and ideas that are often evergreen. From time to time, prior to drafting the letter, I review past letters that date back almost 15 years to gather momentum, ideas and...

Sunday, March 24, 2024

What’s your ideal retirement? Traveling? Practicing your favorite hobbies? Caring for loved ones? Whatever you envision, creating a plan of action can feel exhausting. There are, however, a few simple, yet commonly overlooked steps you...

Sunday, February 25, 2024

Providing for your children's education is an important part of your financial plan. But, for the most part, that education won't teach your children very much about basic financial literacy. The money lessons that kids learn from...

Monday, February 19, 2024

Smart investing doesn’t happen in a vacuum. Current events matter, and this year, the 2024 Presidential Elections are taking center stage. That’s rattling a lot of us, causing more election stress than ever before.1 It’s also raising a...

Saturday, February 17, 2024

In a perfect world, every money decision we make would be totally rational. We’d consider all of the facts. Then, we’d balance them with the risks to make the most logical choice available.1 That sounds simple. Yet it doesn’t happen as...

Friday, January 26, 2024

If there’s a message to take from 2023 markets, it is this: Timeless wisdom best informs timely decisions. Below is how Morgan Housel describes the same in his new book, “Same as Ever.” “The typical attempt to clear up an uncertain...

Saturday, December 30, 2023

As we wrap up another eventful year, it's a tradition to pause and reflect on the past twelve months. It's a time to celebrate successes, learn from setbacks, and set intentions for the year ahead.

Sunday, November 26, 2023

Ah, we restless humans. Sometimes, it pays to strive for greener grass. But as an investor, second-guessing a stable strategy can leave you in the weeds.

Tuesday, November 14, 2023

I enjoyed talking about Financial Planning for Parents at the Goodnow Library. Thank you to the Goodnow Library Foundation for hosting the Be Bold Speaker Series. Please find a link to the slides from this presentation in the blog post.

Wednesday, November 1, 2023

What happens when you start to feel afraid or greedy? Do you feel like taking your time and waiting to make your next move?

Friday, October 20, 2023

In a bit of a paradox, we have two books with contradictory titles about crowds on our reading list. Are crowds wise or delusional? It helps to understand why the answer is yes, to both, and how this shapes our investment recommendations.

Sunday, October 15, 2023

Most children learn the ins and outs of responsible wealth-building from their parents. But no matter how many good financial habits your children have learned by adulthood, they could still be unprepared for their role in your legacy plan.

Wednesday, October 4, 2023

If you think unretirement could improve your life's satisfaction, work through these three questions and share your answers with loved ones and your financial advisor.

Tuesday, September 5, 2023

Most of us aren’t very successful with our goals, even with the best intentions and strong willpower. Sometimes, that’s because we’re setting unattainable goals or missing the big picture and setting our goals with blinders on.

Friday, August 11, 2023

Why do we prefer a total return investment strategy instead of seeking more concentrated dividend stock positions, even for retirees who are drawing income out of their portfolios?

Friday, August 4, 2023

There’s a popular perception that dividend stocks can deliver decent returns, while also creating a dependable income stream for spending in retirement or elsewhere. But that's not necessarily the case.

Sunday, July 30, 2023

You've likely heard of the 80/20 rule. The rule suggests 80% of an outcome is often the result of just 20% of the effort you put into it.

Sunday, July 16, 2023

Investors are prone to behavioral biases that cause financial decisions to be less than completely rational. In our work and studies here at Monument Group, we come across examples of behavioral bias on a regular basis.

Thursday, July 6, 2023

As we move past the 4th of July and head into the second half of the year, ask yourself how these three areas of financial independence are affecting your planning.

Saturday, July 1, 2023

You can’t control everything when you travel. But you can control what you know, how you get ready to get away, and what you do while you’re vacationing. And if you know these common travel mistakes, you’ll be much better prepared to get a

Thursday, June 29, 2023

The 4th of July weekend is both the unofficial midpoint of summer and the unofficial midpoint of your whole year. While time does fly during the summer months, there's still plenty of year left for you to double down on what's working.

Monday, June 19, 2023

Noticing signs of decline in our loved ones is always hard, and making care decisions for them often feels even harder. While it's impossible to make the process entirely painless, the following guidance should be useful on your journey.

Wednesday, June 7, 2023

An increased lifespan is going to create some important challenges that retirees need to prepare for as early as possible. To maximize your life satisfaction in your 70s, 80s, and beyond, start making purposeful investments in these areas.

Wednesday, May 31, 2023

What is financial literacy? Whatever you know — or don’t know— about it now, here are some tips for building up your financial knowledge. 

Wednesday, May 24, 2023

Here's a quick and easy four-step process to help you fill up your family's bucket list and prepare ahead this summer.

Wednesday, May 17, 2023

As you start your retirement chapter, adding journaling to your daily routine could provide some important benefits that will improve your life satisfaction.

Tuesday, May 9, 2023

In our conversations with clients, we’ve been known to take aim at the media. That’s because bad things tend to happen to your personal wealth if you read, watch, or listen to too much news.

Saturday, April 29, 2023

While genetics may play a part in SuperAgers' mental durability, researchers have also found that these three habits can help seniors age better and improve life satisfaction.

Friday, April 21, 2023

Here’s a quick checklist that will help you and your spouse outline a legacy plan that will protect your assets, care for each other in the event of incapacitation, and give you both some peace of mind.

Wednesday, April 19, 2023

The “I’s” had it across the first quarter, as inflation and interest rates continued to dominate popular financial headlines.

Sunday, March 26, 2023

Here are three ways that being mindful of all you have can improve your life satisfaction and even inspire you to spread that gratitude to your loved ones and your wider community.

Wednesday, March 15, 2023

Much like a solid financial plan, schools that have consistently built their basketball programs for the long run tend to get the best results.

Thursday, March 2, 2023

Kicking off your retirement with a well-deserved vacation can ease you into this complicated transition and give you a small taste of everything you have to look forward to.

Monday, February 20, 2023

A gap analysis can help you see if you’re still on track to pursue your financial goals.

Wednesday, February 8, 2023

Combat financial fraud and identity theft with this quick reference guide.

Wednesday, January 25, 2023

A clear understanding of what wealth looks like to you may help you build a financial strategy.

Friday, January 20, 2023

Who doesn’t enjoy tying up year-end loose ends? The original SECURE Act was signed into law on December 20th, 2019. Its “sequel,” the SECURE 2.0 Act, was similarly enacted at year-end on December 29th, 2022.

Wednesday, January 18, 2023

Every January, it is typical to reflect on market data from the previous year. You will see the results in your own quarterly reports, as well as across the usual flurry of broad market analyses. 

Monday, December 26, 2022

Are you setting a goal to “get healthy” in the New Year? It's time to establish a plan that will help you hit your targets next year and improve your life satisfaction.

Sunday, November 20, 2022

We tend to overestimate what we can accomplish in the short-term and underestimate what we can accomplish in the long-term. The frustration that results is one big reason why so many New Year’s resolutions die before Spring.

Friday, November 11, 2022

Spending your retirement years in a new country can be exciting, so long as you're prepared.

Thursday, October 27, 2022

Instead of expending valuable energy on perennial uncertainties, we would suggest a more practical approach to managing portfolios.

Sunday, October 23, 2022

Social Security and SSI benefits are increasing in 2023. Here’s what you need to know.

Sunday, October 16, 2022

The 2023 Medicare changes are here, and for the first time in several years, some premiums are lower.

Friday, September 30, 2022

As your parents begin to settle into their final phase of life, their health, residence, and finances could become a factor in your retirement planning.

Friday, September 23, 2022

Your preconceived notions may be impacting your decision-making process. Thankfully, it’s possible to overcome them.

Sunday, August 21, 2022

Many new retirees feel lost without their jobs. But often what these struggling retirees are really missing is the sense of purpose that their careers gave them.

Thursday, August 11, 2022

Here are five ways that you and your spouse can make sure you agree on your household spending, avoid surprises, and align your spending with your shared priorities and long-term goals.

Sunday, August 7, 2022

Teens are adults in training and an important part of your family's financial picture. Help them build good habits so they're ready for the future.

Sunday, August 7, 2022

In our previous quarterly letter, we wrote about “Life and Optimism” and added the saying from the Life is Good Company, “Life is not easy, life is not perfect, but life is good.”

Wednesday, June 29, 2022

Knowing both your financial and emotional risk tolerance could be vital to your portfolio performance.

Saturday, June 18, 2022

As your parents age, they may become less capable of managing their own finances. Here are some ways to approach the subject.

Monday, February 21, 2022

What would you do with your time if you weren’t working 40 hours every week? Everyone has a different idea of what they want retirement to look like, whether it involves traveling the world or staying comfortable at home. The most...

Monday, February 14, 2022

With tax season well underway, tax scams are likely to become more prevalent. If you’re unsure if a message you’ve received is legitimate or fraud, here are some red flags to watch out for.

Friday, February 4, 2022

In life and in finances, the difference between success and failure may lie in the choices you make daily – not one monumentally bad decision. Once you've recognized your behaviors, you can start to build a plan to improve them.

Monday, June 7, 2021

Lee McGowan, CFA, CFP® recently discussing working in the retirement years with Barron's. The link is below; a subscription to Barron's may be necessary.

Wednesday, September 23, 2020

Lee McGowan, CFA, CFP® recently discussed withdrawing money from 529 plans with Ann Carrns of The New York Times.

Tuesday, June 18, 2019

Byron Woodman and Lee McGowan are quoted on Emerson Hospital's site discussing planned giving.

Wednesday, October 24, 2018

Due to recent income tax changes, it may be an opportune time to make a qualified charitable distribution (QCD) from your IRA.

Wednesday, August 22, 2018

Buying a home can be a major expenditure. Fortunately, federal tax benefits are still available, even after recent tax reform legislation, to help make homeownership more affordable.

Wednesday, August 22, 2018

Buying a home can be a major expenditure. Fortunately, federal tax benefits are still available, even after recent tax reform legislation, to help make homeownership more affordable.

Sunday, July 22, 2018

Often, tax-qualified retirement accounts such as IRAs make up a significant part of one’s estate. Naming beneficiaries of an IRA can be an important part of an estate plan. One option is designating a trust as the IRA beneficiary.

Sunday, December 17, 2017

Lee McGowan joins the Goodnow Library Foundation’s board of directors.

Monday, September 11, 2017

Lee McGowan, CFA, CFP® recently discussed index fund investing with CNBC.

Sunday, December 4, 2016

The holidays are a popular time for charitable donations. With so many charities to choose from, it’s more important than ever to ensure that your donation is well spent. Here are six tips that can help you make smart and effective...

Thursday, December 1, 2016

As we get into December, many of us think about resolutions for the year ahead. As you reflect on this exercise, we share with you an idea that a father put in place that is worthy of consideration.We came across this piece in Canada’s...

Wednesday, November 30, 2016

If you are the adult child of aging parents, you may find yourself in the position of someday having to assist them with handling their finances. Whether that time is in the near future or sometime further down the road, there are some...

Wednesday, November 9, 2016

A Message to our Clients:Whether you are feeling elated or deflated about the U.S. Elections now completed, we share a few thoughts related to the “What’s next?” that may be on your mind.There are more than enough political analyses...

Friday, August 26, 2016

Though tax policies haven’t received top billing in this year’s presidential election dialogue, they’re still part of the conversation. Here’s a quick review of each candidate’s tax proposals based on information released by their campaigns

Wednesday, August 24, 2016

Lee McGowan, CFA, CFP® discussed mutual funds with The Wall Street Journal.

Tuesday, August 23, 2016

Peter Johnson wrote a piece for the Concord Journal in 2014 regarding HIPAA authorization for college students. We are reposting the article on our blog for all of those who may have missed or need a refresher on the topic.Did you know...