Inflation was largely an afterthought for many years. The dollar experienced an average inflation rate of 2.1% per year between 2000 and 2020. During that period, retirees rarely had to worry about inflation eroding their purchasing power. That changed during the COVID-era inflation surge, when inflation averaged 4.7% in 2021 and 8.0% in 2022, according to the U.S. Bureau of Labor Statistics.

While inflation has moderated from its recent highs, the experience served as an important reminder that rising prices can present a significant risk for retirees. Unlike those still in the workforce, retirees generally cannot rely on salary increases to offset higher costs. Instead, retirement income and investment portfolios must support spending needs over what may be a retirement lasting 20, 30, or even 40 years.

As we move into the summer months, investors continue to navigate a market environment shaped by rapid technological change, geopolitical uncertainty, and shifting economic expectations. While markets have remained resilient beneath the surface, there are growing signs that investors should remain thoughtful and disciplined in how they approach risk and opportunity in the second half of the year.

This month we examine the growing concentration around artificial intelligence investments, the evolving interest rate outlook, the changing consumer landscape, and what the current economic environment may mean for younger workers entering the labor force.

A 401(k) account at a former employer is like a financial storage unit: important assets are sitting there, but they are out of sight, hard to coordinate, and may be disconnected from the rest of your retirement plan. The question for many investors is whether that old account still belongs there, or whether it should be rolled into an IRA as part of a more coordinated retirement strategy. A rollover to an IRA can turn that dormant account into a more flexible, better-managed piece of the overall portfolio.

For many retirees, deciding whether to downsize is an important part of retirement planning. In the past, selling a larger family home and moving into something smaller often seemed straightforward. Today, however, higher home prices and mortgage rates have made the decision far more complex.

In some cases, staying in your current home may make better financial sense. In others, relocating can improve cash flow, simplify daily life, and provide greater long-term flexibility. The right decision depends on balancing both financial and personal considerations.

A recent report from The Wall Street Journal highlighted that OpenAI fell short of some of its internal expectations for user growth and revenue in 2026. In addition, ChatGPT did not reach its goal of one billion weekly active users by the end of 2025, instead finishing the year with an estimated ~800 million.

I work at a Registered Investment Advisor firm. I am not, however, a financial person. I’m a regular person. I do not manage portfolios. I do not read prospectuses for fun.

I play a supporting role at Carnegie Investment Counsel. As Marketing Coordinator, my job is to draw out the insights and guidance from the big brains of the financial professionals around me and get it out in front of the people who actually need it. That's you. Blogs, videos, emails, educational content. That kind of thing. I'm an ideas-and-words person in a room full of math-and-numbers people.

One thing we absolutely share, though: A genuine desire for clients to get the objective, transparent, and personalized investment services they deserve. Not to be dramatic, but I love my job.

So, even though I’m not a financial person, I am adjacent to some of the smartest financial minds around, and I soak up as much as I can. Naturally, I assumed some of that had to be rubbing off on my own financial life. I've done the things. I have a will. I have beneficiaries named. I have signed important-looking documents in important-looking offices.

Plus, I’m young.

Okay, yeah, I was born in the 1900’s but still… estate planning is a problem for future me. I was not worried.

So imagine my surprise on a random Thursday when I showed up to what I thought was just another workshop to take notes for content ideas and walked out texting my husband: "WE NEED TO SCHEDULE A MEETING WITH AN ESTATE PLANNER, like yesterday!"

Here’s what happened:

As we move into May, one of the most familiar phrases in investing tends to resurface: “Sell in May and go away.” This year, that saying may not apply. While headlines remain filled with geopolitical tension and economic uncertainties, the market itself continues to show a notable degree of resilience. Here’s what the Carnegie Investment Team is honing in on for the month.

A strong estate plan is not just about having documents in place. Over time, your life evolves, your family changes, and past decisions may no longer reflect your current situation. If it has been a while since you reviewed these details, it is worth taking another look to ensure your plan plays out the way you intend.

Major endowment donors and their families are increasingly concerned about what happens to charitable gifts when nonprofit institutions close.

In 2025, 15,000 churches and sixteen colleges closed in the United States.Many fraternal and social organizations have continued a decades long decline, with clubs, lodges, and chapters consolidating or disappearing. Many arts organizations, including small museums, have also closed.

Some projections suggest these trends may continue due to demographic, social, and economic factors.

As institutions disappear, donors and their families are beginning to ask important questions:

• What happens to the property and endowment funds of these organizations?
• What happens to planned gifts or bequests if the nonprofit no longer exists?
• How closely will donor intent be honored?

The answers are not always straightforward.