You’ve got many important documents you keep safe: your Social Security card, your birth certificate, your marriage certificate and, perhaps most important, your will. Though some of these documents can’t be changed, your will can be modified throughout your life so that your estate is handled according to your wishes after your passing. You want to make sure the right people inherit your assets, and those circumstances can change over time in relation to choices and relationships. We’ve created a comprehensive guide called Beyond the Will Checklist to help organize what’s typically reviewed. You can download the guide for a deeper dive, or keep reading for an overview of common life events that may signal it’s time to revisit your plan.

Here’s a look at some reasons to change your will.

You’ve spent a lifetime developing an investing style and compiling ideas about how to wisely manage your personal finances. Wouldn’t it be a great idea to pass along some of that wisdom to your family? Here are a few ideas on how to teach money habits to young people. 

Part of any practical education for your children and possibly your grandchildren should be how to manage their finances effectively.  

Don't assume your kids are too young to start this process. If you wait until they are college-age, you will likely miss a golden opportunity to create an enduring set of guidelines for financial management.

Another assumption that you can readily discount is that these lessons will be taught in school. According to the Council for Economic Education, only 30 states require a course in personal finance for high school graduation.

You may be doing a great disservice to your children by failing to give them an explanation of how the primary aspects of personal finance work. Here are some suggestions:

ABLE Act accounts started with a parent. It was Stephen E. Beck, Jr., vice chairman of the National Down Syndrome Society and the Down Syndrome Association of Northern Virginia Board of Directors who proposed a plan to help his daughter, who has Down syndrome, save money. His plan is what became the basis for the Achieving a Better Life Experience (ABLE) Act.

In 2014, the ABLE Act was signed into law by President Obama and in June 2016, ABLE programs were launched in Ohio, Tennessee and Nebraska. In Ohio, for example, these accounts are called STABLE accounts.  

If you’re a parent raising a child with special needs, you know there are unique circumstances when it comes to managing your family’s finances. In a previous blog post, we outlined eight simple steps for parents to take to establish financial stability for their child. This blog takes a closer and more in-depth look at ABLE Act accounts and answers some frequently asked questions.

By definition, ABLE accounts are investment accounts for eligible individuals with disabilities that allow them to save and invest money while retaining eligibility for public benefits programs (like Medicaid, SSI for example). These accounts share similarities with regular bank accounts, but they function more like 529 college savings accounts.

Kim Gannis, AIF®, is a Principal at Carnegie and Director of Retirement Plan Services and works in Carnegie’s Pittsburgh office. She has been with the firm for six years. Kim earned her Bachelor of Science in mathematics from the University of Pittsburgh; she is also a designated Accredited Investment Fiduciary®. 

“With my degree, I thought I was going to be a teacher coming out of school,” Kim recalls. “I soon realized that I would rather poke my eyes out than be a teacher.” She landed at Mercer as an analyst, then continued with positions at PNC Bank and American Century Investments. Her desire to understand the real side of money led to her move to Carnegie. She has been doing financial work all her life and plans to continue for the rest of her career. 

Let’s take a look at a day in the life of a principal and director of retirement plan services.

This article was originally published in October 2021 and has been updated in February 2026 to reflect current information.

We’ve always been told that the only certainties in life are death and taxes. Fair enough. But when it comes to retirement, most people would prefer a little more clarity, especially around income.

Financial planning tools can help estimate future income, but retirement is still built on assumptions. Longevity, health, inflation, and policy changes all play a role. No one knows exactly how long income will be needed or how markets will behave over a 20 to 30 year retirement.

Because of that uncertainty, most retirees rely on multiple income sources working together.

Here is a look at the most common options, along with additional ways some people choose to supplement their income.

Originally published in September 2021. Updated in February 2026 with added resources.

Did you know that 90 percent of high net-worth households give to charity according to the National Philanthropic Trust? It’s an impactful way to ensure your wealth goes to good use. Nonprofit and charitable organizations are fueled by individuals who support their services. Currently, there are about 1.54 million charitable organizations in the U.S., and in 2019, 69 percent of charitable giving came from individuals.

In our first post in this series on living with wealth, we discussed giving to family. In this post, we concentrate on charitable giving. Outside of playing a pivotal role in helping a nonprofit organization thrive, charitable giving boasts a number of benefits for donors. Making a donation to a qualified 501(c)(3) makes you eligible for tax deductions, and giving a considerable amount can benefit your overall estate planning.

Take a closer look at how you can position yourself for sustainable charitable giving and, in addition, leave an enduring legacy after your death.

Nonprofit organizations rely on the generosity of donors for their sustainability, allowing them to solve real-world problems for those who need help. They often receive financial support from the government, private entities and philanthropic organizations, but the majority of giving comes from individual donors. Donating to these organizations allows people to pay their wealth forward. To make them even more successful in serving one of the four basic missions, financial advisors for nonprofits, like Carnegie Investment Counsel, can help.

A podcast episode of Business Made Simple (titled “Vik Harrison -- What You Really Need to Grow Your Nonprofit”) breaks down the four different categories of nonprofits, based on their mission. Hosts Koula Callahan and Dr. J.J. Peterson discusses how nonprofit organizations should approach their development the same way for-profit companies do via marketing and messaging. Vik Harrison, founder of Charity Water, advises how nonprofits can shift their thinking this way. Both Peterson and Callahan are part of StoryBrand, a marketing consultant company that helps brands and businesses clarify and transform their messaging. 

In the Business Made Simple episode, Peterson and Callahan use the following quote as a frame of reference for describing the four different nonprofits: “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.” Here’s how each of those organizations differs from one another.

Recently, Carnegie Investment Counsel Portfolio Manager/Regional Director Scott Inglis was a guest of Behind the Numbers, which is a podcast about the “real stories” behind business performance and valuation. Inglis talked with the host, valuation expert and bestselling author Dave Bookbinder. Scott provided detailed insights around demystifying noise in the market place”. Here’s an overview of the conversation.

Your relationship with your financial advisor is important. The knowledge and guidance your advisor provides has an immense and measurable impact on your life, family, and legacy. Like all relationships, contact with your advisor may ebb and flow over time. But when your wealth is on the line, a partnership that’s anything but solid should be non-negotiable.

There are several reasons why people part ways with their financial advisors. Sometimes the most optimal solution for both parties is to close the chapter and begin a new one. If you find yourself in any of the following scenarios, it might be time to find a new financial advisor.

As we progress through life, we arrive at various well-defined markers along the way, termed as life events or major milestones. These events might include earning a college education, entering the workforce, marrying, raising a family, advancing in your career and retiring. There are obviously many others you might experience during your life’s journey.

In this article, we address the financial stages of life. We look to define those phases and help you properly prepare for each stage. Goal setting is a key component of this process. Better preparation today will lead to a more beneficial outcome once you reach your retirement years.