One of the biggest questions you’ll face as you approach retirement is when to claim Social Security. Your claiming age can make a significant difference in how much you receive. You can generally begin collecting retirement benefits at age 62, but doing so can significantly reduce your monthly benefit compared with waiting until your full retirement age (FRA), which ranges from 66 to 67 depending on your birth year. For someone whose FRA is 67, claiming at 62 can reduce your monthly retirement benefit by about 30%.

The incentives also work in the other direction. Once you reach FRA, your benefit generally increases by 8% for each year you delay claiming until age 70. That means the difference between claiming at 62 and waiting until 70 can be substantial.

Semiconductor stocks were the story of the first half of 2026. The NYSE Semiconductor Index was up 114% through June 30. The index's top holdings include Nvidia, Micron, Advanced Micro Devices, Broadcom and Intel.

So far, the third quarter has been a very different story. As of September 3, the index was down 22% for the quarter. Despite that decline, it remains up 67% for the year.

Interestingly, the decline in the index has not been driven by weakness in the underlying earnings of the companies. In fact, the major semiconductor companies have generally reported very strong results.

As we head into September, the investment team at Carnegie continues to monitor key data that will impact market conditions. Interest rates remain elevated; inflation continues to be a concern, and the enormous investment behind artificial intelligence is creating opportunities as well as risks. At the same time, the strength of the consumer is becoming more difficult to assess, and markets continue to rotate beneath the surface.

Against that backdrop our focus remains on understanding what is driving portfolio performance, maintaining diversification and being selective about where we take risk.

The bond market has been making headlines recently as long-term Treasury yields have risen to levels last experienced in 2007. This has generated concerns about inflation, government borrowing, and the potential impact of higher interest rates on both bonds and stocks.

A Roth conversion can be a powerful retirement planning tool, but the decision is rarely as simple as asking whether tax rates will be higher or lower in the future.

With a traditional IRA or 401(k), you receive a tax benefit when you contribute. Your investments can grow tax-deferred, but withdrawals are eventually taxed as ordinary income and Required Minimum Distributions (“RMDs”) apply later in retirement. A Roth account works differently. You contribute after-tax dollars, but your investments can grow tax-free, qualified withdrawals are tax-free, and Roth IRAs do not have lifetime RMDs for the original owner.

It is a fact that 28% of American men and 22% of American women have never been married, and that 44% of childless adults under 50 say they're unlikely to ever have children. This is up from 37% just five years ago.

With the growing number of people who remain or end up single and have no living children, financial planners, including us here at Carnegie Investment Counsel, are fielding the question more from aging individuals: who can manage funeral arrangements for me?

The short answer:

• State law decides who has final say by default, and it may not be who you'd choose.
• Carnegie can't step in and make arrangements for you due to regulation.
• Two practical solutions: designate a representative to manage your remains or prepay through a funeral home or burial society.

The first half of 2026 gave investors plenty to digest. Artificial intelligence continued to dominate headlines, market leadership shifted beyond the Magnificent Seven, the Federal Reserve remained focused on inflation, and ongoing tariff and geopolitical developments added new layers of uncertainty.

In this edition of Front Row with Carnegie, our investment and financial planning professionals discuss the trends shaping today's markets, what they're watching for in the months ahead, and how those developments may affect long-term investors. Below are some of the key takeaways from the conversation, or you can watch the full discussion in the video below.

August tends to be a time when market activity can grow harder to analyze. Trading desks thin out, news flow slows, and short-term momentum can swing prices more than fundamentals do. Still, the month gives investors plenty to watch, including corporate earnings and Fed policy, to signs that market leadership may be broadening beyond artificial intelligence.

One of the most common questions investors ask is why a great company can report strong earnings and still see its stock price fall sharply. The answer often comes down to one word: expectations.

Over the long run, earnings growth is the primary driver of a company's stock price. However, in the short run, changes in investors' expectations about future growth can have an even greater impact. Understanding this relationship helps explain why some of the market's fastest growing companies can also be among its most volatile.

When most people think about estate planning, they focus on what happens after they pass away. While deciding how your assets will be distributed is certainly important, an equally important question often goes overlooked: Who will make financial and medical decisions if you're unable to make them yourself?