As we gather this weekend under open skies to celebrate the Fourth of July, we’re reminded of the ideals that built this country—vision, determination, and resilience. The same qualities that sparked a revolution nearly 250 years ago are still the cornerstones of progress today, whether you're building a nation or your own financial future.
Yes, the world feels noisy. Headlines swirl with uncertainty—from global conflicts to domestic policy debates. But history has a way of putting things in perspective. Today’s turbulence fades. What endures is the steady pursuit of long-term goals. Just like last year’s fireworks, today’s worries will eventually drift from view—if you keep your eyes on the horizon.
So as we celebrate American independence, it’s the perfect time to talk about another kind of freedom: financial independence.
It may not be the most obvious pairing with a summer job, but did you know that teenagers can start building long-term wealth now—with a little help? Custodial Roth IRAs allow kids with earned income (even from lifeguarding or scooping ice cream) to grow their money tax-free. And thanks to the power of compounding, time is their greatest asset.
Let’s say a 15-year-old sets aside $2,000 from one summer’s work. Assuming an 8% annual return, that small contribution could be worth nearly $100,000 by retirement at age 65. That’s the kind of fireworks we like to see—quiet but powerful.
There are some ground rules. The contribution must come from taxable earned income (not allowance), and an adult has to open and manage the account. But even modest contributions can have a big impact. A parent can match a child’s Roth IRA contribution to encourage saving, but the total contribution cannot exceed the child’s earned taxable income for the year. This matching approach not only reinforces smart financial habits—it also turns saving into a meaningful family effort.
The pursuit of financial independence is as uniquely American as the Fourth itself. It’s about choosing your own path and declaring what kind of life you want to lead.
That starts with clarity. What does financial freedom look like to you? Retiring early? Traveling more? Living simply and securely? Once you define it, it’s easier to build a plan. Tools like retirement calculators and budgeting apps make that journey more manageable.
And don’t forget automation. Scheduling automatic transfers to your retirement accounts can help you build momentum without even thinking about it. If your employer offers an auto-escalation feature, take advantage. Let your savings grow while you enjoy the ride.
This is also where a financial advisor adds real value. Beyond helping you build a plan, a quality advisor keeps you focused and helps you avoid costly missteps—especially when life gets complicated.
Financial independence doesn’t require perfection. It just requires attention—and a trusted partner to help you stay the course.
Financial freedom isn’t just a destination—it’s a way of life. It shows up in daily choices: shopping with intention, cooking at home more often, picking up low-cost hobbies like hiking or gardening. It’s about wellness too—investing in your health today to avoid higher costs tomorrow.
A financially independent lifestyle doesn’t mean deprivation—it means control. It’s knowing what matters most, and aligning your spending and saving accordingly. And it’s easier when you're surrounded by people who share your mindset.
Like all good things, independence is built over time.
In your 20s to 40s, focus on maximizing income, automating savings, and building flexibility into your life and finances. That early traction gives you options—whether it’s retiring early or pausing work to care for family.
In your 40s to 60s, it’s time to review your plan, rebalance your investments, and fine-tune your retirement timeline. Annual reviews can make all the difference.
In your 60s and beyond, it’s about protecting what you’ve built: managing withdrawals wisely, staying mindful of taxes, and adjusting for longevity and healthcare needs. This is where a trusted advisor can help ensure the plan holds up—so you can truly enjoy the freedom you worked for.
This weekend, while you're enjoying burgers, parades, or a quiet moment by the firepit, take a second to reflect. Our country’s story was built on courage and commitment—and your financial story can be, too.
Declare your independence—not just from debt or uncertainty, but from financial stress. Start where you are. Set your sights on a future you believe in. And remember: freedom isn’t about having it all. It’s about having enough, and knowing what to do with it.
From all of us at Samalin Wealth, happy Fourth of July—and cheers to a summer of building something that lasts.