Invest with Tess - Tessa Steinemann

10/18/2026

If your child earned money this year, whether it's babysitting, mowing lawns, or a summer job, they may be eligible for a custodial Roth IRA.

You can contribute up to what they earned that year (up to the annual limit), and the money can come from you, so they keep their paycheck. It grows tax-free, and qualified withdrawals in retirement are tax-free too.

Starting at 15 gives compounding decades to work. And the lesson that a paycheck can build something is worth just as much as the account itself.

Have a working teen at home? Send me a message and I'll help you set one up the right way.

10/17/2026

Not every account you open for a child stays under your control.

A 529 stays the account owners. UTMA/UGMA accounts and custodial Roth IRAs legally belong to the child, and they take over at 18 or 21 depending on your state. That's worth knowing before you choose where to save.

Each account does a different job:
529 for education
Custodial Roth IRA for retirement once they have earned income
UTMA/UGMA for flexibility, as long as you're comfortable giving up control when they turn 18/21.

Many families end up using more than one. If you'd like help figuring out the right mix for yours, send me a DM.

Tomorrow: how a summer job can turn into a head start on tax-free retirement savings.

10/16/2026

New parents get plenty of advice about sleep and diapers. Very little about the decisions that protect their child.

Four things worth handling early:

Name a guardian in writing
Get term life insurance
Update your beneficiaries
Start an account for your child, even a small one

None of this is about expecting the worst. It's about knowing the people you love are taken care of.

Expecting or just welcomed a little one? Send me a message and we'll work through the list together.

10/15/2026

In a relationship, 50/50 sounds fair. It isn't always.

When two incomes aren't the same, an even split can take a much bigger bite out of one paycheck than the other. A proportional split keeps things even in a different way: each person puts in the same share of what they earn.

There's no single right way for couples to manage money. Joint, separate, or a mix of both can all work. What matters is that you both understand the system and agree to revisit it as life changes.

Save this for your next money conversation, and share it with someone who's about to have one.

10/14/2026

Money is one of the leading causes of divorce, yet most couples never talk about it before the wedding.

As a financial planner and certified divorce financial analyst, these are the seven questions I'd want every couple to discuss:

What do we each earn, owe, and own?
How do you feel about debt?
Joint, separate, or a mix?
Do our big goals line up?
Spender or saver?
What did money look like in your family growing up?
Do we need a prenup?

Not the most romantic conversation. But it's one of the strongest foundations you can build.

Getting married soon? Send me a message and I'll walk you through how to have these conversations well.

10/13/2026

Confused about SECURE Act 2.0? Take a look at our rundown of the new legislation and how it changes your retirement.

The second iteration of the SECURE Act brings forward several changes to the world of retirement.

10/12/2026

Open enrollment comes around once a year, and it's easy to click "keep my current plan" and move on. But the choices you make in this window shape your healthcare costs, your tax savings, and your protection for the next twelve months.

Before your window opens, take a few minutes to:

Look at what you actually spent on healthcare this year
Make sure your doctors are still in network
Compare total cost, not just the premium
Decide on your HSA or FSA contribution
Review your life and disability coverage

Your benefits are part of your pay. Treat them that way.

Have a question about your options? Send me a DM.

10/09/2026

The last few months of the year move fast. Between the holidays, year-end deadlines, and open enrollment, money decisions tend to get rushed or pushed to January.

A little attention now can make a real difference. This checklist covers the six things I'd look at before December 31:

1. Check your spending against your plan
2. Top off your 401(k) contributions
3. Use what's left in your FSA
4. Review year-end tax moves
5. Give open enrollment real attention
6. Set your Q1 goals before Q1 starts

You don't need to do it all this week. Pick one item, handle it, and move to the next.

Save this so it's here when you need it, and send me a DM if you have questions about any of these.

10/08/2026

Stocks finished the third quarter mixed. The S&P 500 gained 2.03%, and the Nasdaq Composite rose 2.47%, while the Dow Jones Industrial Average slipped 2.70%. Halloween is next on the calendar, with U.S. consumers expected to spend \$13.5 billion USD this year and 6.26 million Canadian children in their trick-or-treating years.

Stocks were mixed in the third quarter as economic, geopolitical, and corporate earnings news pushed the broad market higher while weighing on the Dow Industrials.