Making Big Money Decisions Blog Archives

The $5 million question: Is the American Dream still attainable?

For generations, the American Dream has been the bedrock of national ambition—a promise that hard work, perseverance, and determination can lead to a better life, financial stability, and upward mobility. It was traditionally painted as a simple picture: a house with a white picket fence, a secure job, two children, and a comfortable retirement.

But for millions of Americans today, especially younger generations burdened by student debt and rising costs, that dream feels less like an achievable goal and more like a historical relic.

The simple picture has been replaced by a sprawling, unaffordable mansion of aspiration, leaving many to wonder if the game is rigged against them.

To learn more about the price tag for achieving the American Dream, how it’s being redefined by younger generations, and whether it’s still possible to attain, please read on.

Your first 401(k): How to start strong and build wealth for the future

Starting your first job often comes with a big perk — access to a 401(k) retirement plan. Enrolling might feel confusing at first, but the choices you make now can have a huge impact on your financial future.

Here are eight ways to make the most of your 401(k) from day one (and beyond), with real numbers to show the difference your decisions can make and digital tools available to help you optimize your accounts.

The high cost of tapping your retirement savings early

The 2025 Employee Financial Wellness Report by Payroll Integrations found that a significant portion of the U.S. workforce is experiencing financial strain, which is impacting their retirement savings. The report reveals that 38% of employees have withdrawn money from their retirement accounts, with this trend being particularly prevalent among Gen Z workers, of whom nearly half (46%) have done so. The withdrawals are primarily driven by urgent needs like unexpected emergencies and debt repayment, not discretionary spending.

This pattern is expected to continue, as one in three employees anticipates having to withdraw funds again in the next year to cover emergencies or daily expenses, indicating widespread financial fragility and a lack of sufficient emergency savings.

When bills pile up or emergencies strike, dipping into a 401(k) or IRA can feel like the easiest fix. But the real price of tapping retirement savings early is much higher than most workers realize. Between penalties, taxes, and lost compounding growth, a short-term withdrawal can snowball into a major setback for your financial future.

Here are five reasons why you may want to reconsider taking an early withdrawal from your retirement account:

How to minimize fees to maximize your big money returns

As referenced in my new book Making Big Money Decisions and recent blog posts, transaction fees can take a big bite out of your returns. The good news is that the costs for holding investment funds and selling a house in the USA continue to decline, allowing you to keep more of your money. Since these investments are usually large, even small differences in the fees you pay can add up to significant amounts of money over time.

If you are interested in finding out more about these transactions costs and tips for ensuring you are paying the lowest fees, then please read on.

Are your investments outperforming the market?

How do you know if your investment portfolio is performing better (or worse) than the market?

The answer is your investment alpha.

Alpha is a measure of an investment’s performance compared to a benchmark, like a market index.

If your investments are not meeting or exceeding your benchmark(s) over a time period, then you may need to reevaluate your investments and strategy.

As referenced in my book Making Big Money Decisions, investing in underperforming assets generates considerable opportunity costs and suppresses wealth accumulation. Use the content in this post to ensure you’re getting the best return on your invested money.

By reading this post, you will learn why alpha is a key performance indicator for managing your investment portfolio, and how to calculate and use it to optimize your investment strategy.*

16 online resources for making big money decisions

Statistics on the state of personal finance show that many adults, particularly young adults, struggle with financial literacy and are concerned about their ability to fund life goals like buying a house and retiring comfortably.

One way to overcome these concerns is by making the unknown known through financial planning and money management. Like many things in life, getting started is probably the hardest part. Time is an essential element in both life and personal finance, so use it to your advantage by starting your planning as early as possible.