Written by: Ronke Adepoju
June 29, 2025
Smart Summer Money Moves
Reset your finances while enjoying the season.
Key Actions:
- Use your PTO: It’s paid – literally. Take time off and check for employer travel perks.
- Negotiate your rent: Don’t auto-renew – do your homework and push back on increases.
- Pause unused subscriptions: Don’t pay for what you’re not using (e.g., streaming or gym).
- Lower cooling costs: Blackout curtains, seal gaps, and upgrade old AC units.
- Review credit card rates: Your APR might have gone up – act now to pay off or consolidate.
- Use credit card rewards: Don’t sit on them – cash them out, or use for travel or savings.
- Sell old clothes: Resale platforms = fall wardrobe money.
Takeaway: Financial wellness doesn’t take the summer off. Use the season to refresh your habits, cut waste, and make your money stretch.
The Great Wealth Transfer
$84 trillion is changing hands – be prepared to give or receive.
What’s Happening:
Baby boomers are transferring $72T to heirs, $12T to charities by 2045. Poor planning can lead to taxes, legal headaches, and wasted wealth.
Key Strategies:
- Estate planning: Have a will, trust, and named beneficiaries.
- Tax-smart moves: Consider Roth conversions or stepped-up basis strategies.
- Income generation: Inherited wealth isn’t income—invest wisely (e.g., dividend stocks, annuities).
- Communication: Talk to family. Avoid surprises and prevent future conflicts.
Takeaway: Whether you’re passing down money or receiving it, strategy now prevents regret later. There’s no redo once the transfer begins.
Rising Electricity Prices
Power costs are outpacing inflation—here’s why and what you can do.
What’s Driving It:
- AI & data centers: Skyrocketing energy use
- Electrification: EVs, heat pumps, and more
- Aging infrastructure: Outdated transformers, grid limitations
- Regional pricing: Where you live matters more than ever
What You Can Do:
- Boost efficiency: Insulation, smart thermostats, energy audits
- Install solar (if cost-effective): Long-term savings
- Invest smart: Utility ETFs or energy infrastructure
- Adjust your budget: Rising bills mean adjusting cash flow and retirement plans
Takeaway: This isn’t a short-term spike. Long-term energy price pressure requires long-term solutions – from your budget to your investment strategy.
How Your 401(k) Stacks Up
Vanguard’s new data helps benchmark your retirement progress.
What It Means:
- Big average ≠ typical—focus on median for realistic comparisons.
- Dips after 65 show drawdown begins; plan income sources accordingly.
Actionable Tip:
Save 15% of income yearly (with employer match included). If you’re at 12%, just bumping up 3% could future-proof your retirement.
💡 Takeaway: Awareness fuels action. Don’t stress about where you are—just focus on taking your next best step.
🧠 Final Thought: The Wealth Break Takeaway
Whether it’s a sunny vacation, a utility bill, a retirement account, or a massive inheritance—money moves need to be intentional. Use the summer to:
- Reflect
- Rebalance
- Reinvest in your financial future
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