As 2026 draws to a close, investors are facing some important questions. How will higher interest rates affect stocks and bonds? Are artificial intelligence companies living up to their valuations? And could the index funds many investors rely on be exposing them to more risk than they realize?

In this edition of Front Row with Carnegie, our investment and financial planning professionals discuss these questions, along with year-end planning opportunities that could make a difference in your financial picture. Below are some of the key takeaways from the conversation, or you can watch the full discussion in the video below.

Medicare, our federal health insurance program, plays an important role in retirement planning for most Americans age 65 and older. While Medicare provides valuable coverage, the choices can be complicated, and making the right decisions at the right time is important. If you are already enrolled, the annual Open Enrollment Period is your main opportunity to review your coverage and make changes for the coming year. This year, Open Enrollment runs from October 15 through December 7. As that window approaches, it’s a good time to take another look at how Medicare works and some of the key decisions that can affect both your coverage and your costs.

Most of us have imagined what we might do if we received an inheritance someday. And in our imaginations, we tend to be pretty good at it. We know what we’d do with the money, what we definitely wouldn’t do, and how we’d make sure it changed our lives for the better.

It’s pretty easy to make smart financial decisions with money you don’t actually have yet.

But when an inheritance becomes more than a hypothetical, the decisions tend to get more complicated.

As a Certified Financial Planner, I’ve helped people work through many of those decisions. And while every situation is different, there are some questions that come up again and again.

In this inheritance Q&A, I’ll walk through seven of them:

• I just received an inheritance. What’s the first thing I should do?
• Can an inheritance help me retire early?
• Should I use my inheritance to pay off my mortgage?
• Should I keep my inheritance separate from my spouse?
• What happens when you inherit money in a trust?
• Can you say no to an inheritance?
• Should I financially help my kids now or leave it as an inheritance?

Some of these decisions may have a clear answer for you. Others may depend on your financial situation, your family and what you want the money to make possible. The important thing is knowing what to consider before you decide.

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.

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.

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?

A condominium is often seen as an ideal structure for a seasonal residence or as the next step for empty nesters who want space and location, but not the hassle of maintaining a suburban house. Condominiums were initially marketed as offering a carefree lifestyle in which maintenance and upkeep were overseen by professional management. The predictability of owner costs also made condominium ownership attractive to retirees with fixed income streams.

However, purchasing a condominium requires significantly more due diligence than buying a single-family home. While you are acquiring ownership of your individual unit, you are also becoming a member of a homeowner's association (HOA) that shares financial responsibilities, maintenance obligations, and legal liabilities. Understanding the nuances of reserve studies, insurance structures, association finances, and ownership restrictions can mean the difference between a sound investment and a financial nightmare.

Before purchasing a condominium in 2026, it is important to understand several often-overlooked factors that could affect your long-term financial plan.

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.