You’ve probably heard the saying, “The best time to plant a tree was 20 years ago. The second-best time is today.”
When it comes to money, let's adjust that slightly, “The best time to start saving was at two weeks old. The second-best time is today!”
And here’s the good news. While we may not have had a brokerage account in the nursery, we can start that early for our children. And since most of us didn’t open a Roth IRA in between diaper changes, or even decades later, we can focus on what we can control now.
Think of the following as a conversation with a trusted advisor. In this interview-style Q&A, experts Kristin and Patrick Lavelle of the The Lavelle Group, answer the financial questions many households think about and a few they often avoid.
Q: Let's get to the good stuff. What’s the financial question most people avoid?
A: Money and anything to do with it!
Q: Okay, what’s the second financial question most people avoid?
A: “If I retired tomorrow, how much of my money would be taxed?”
It’s not exciting. It won’t trend on social media. But it may be one of the most important questions you ever ask. Many households have faithfully contributed to pre-tax 401(k)s and Traditional IRAs for years. That’s disciplined and smart. The catch? That money is tax-deferred, meaning taxes haven’t disappeared. They’ve been postponed.
In retirement, withdrawals are taxable. Required Minimum Distributions can increase income, whether you need the money or not. And suddenly, the IRS becomes a larger partner in your future than you expected.
That doesn’t mean you did it wrong. It just means the plan may need balance.
Q: What’s one simple thing I can do this week?
A: Do a 15-minute “tax bucket” check.
Divide your assets into three categories:
- Taxable
- Tax-deferred
- Tax-free
If most of your savings sit in tax-deferred accounts, future tax rates will matter a lot.
Q: Investing feels overwhelming. Is there a simpler way to think about it?
A: Yes. Stop thinking in products. Start thinking in layers. Every strong financial household has three: protection, stability and growth. In that order.
Q: Why protection first?
A: Because life doesn’t send calendar invites before it changes your plans. Before focusing on returns, ask: “If something major affected my health or income, how would I survive that financially?”
Living Benefits life insurance is designed with that reality in mind. In addition to a traditional death benefit, Living Benefits allow access to funds during qualifying critical illnesses. That can help protect retirement savings and long-term investments from being depleted during a difficult season. Protection isn’t pessimistic. It’s practical.
Q: What about stability?
A: Not every dollar needs to ride the stock market roller coaster.
There are tools designed to provide growth potential tied to market performance while protecting against market losses. When markets decline, your money isn’t reduced. For many families, that stability provides breathing room. It’s easier to stay invested for long-term growth when part of your plan is anchored.
Q: And growth?
A: Growth still matters.
401(k)s, IRAs, and brokerage accounts: these build long-term wealth. But growth works best when it isn’t responsible for everything: emergency protection, income guarantees, and future flexibility. When protection and stability are in place, growth can compound with less pressure.
Q: And about that “Two Weeks Old” idea…
A: Here’s something powerful: While you can’t go back and start your own savings at two weeks old, you can start your child’s or grandchild’s financial future early.
Small, consistent contributions into long-term vehicles, whether education-focused accounts or ones that are more versatile, can create decades of compounding. Time becomes the greatest asset in this strategy. Starting early doesn’t just build money. It builds future options.
Q: What does “smart money” really mean?
A: It doesn’t mean being perfect from the beginning. It means starting now. The best time may have been at two weeks old. But today? Today is still a very powerful place to begin.
Q: I heard you host free money education classes… with chocolate?
A: We do! And yes, chocolate is absolutely included. We host free money education classes that cover the fundamentals of saving, growing, and protecting money in a practical, easy-to-understand way. No jargon. No pressure. Just real conversations.
The path to financial confidence isn’t about chasing trends. It’s about building the right foundation, and that’s exactly where The Lavelle Group helps families begin, often over practical conversations and a little chocolate.
“Smart money decisions aren’t about being perfect. They’re about starting today.”