September 2025

Some retirement plan participants use “managed account” services offered by recordkeepers. These services promise personalized investment help but often come with high fees. Recently, lawsuits have accused some recordkeepers of using deceptive sales practices to steer participants into these accounts.

Most retirement plans already offer a diversified lineup of investments, including default target date funds. These funds often use similar strategies to managed accounts but typically charge  lower fees. That’s why it’s important for participants to review and compare investment choices in their plans.

Participants have the right to understand the fees in their plans. Employers and recordkeepers must provide annual fee disclosures. And if your employer hires a fiduciary investment advisor, consider asking them for guidance — they are legally obligated to act in your best interest.

Read more: National Association of Plan Advisors

It’s common for people, even high-net-worth individuals, to feel like they “don’t have enough.” Unlike the house we live in or items we can touch, much of our wealth is intangible — savings accounts, retirement balances, or investments that don’t always feel real. Add in comparisons with others, and it’s easy to fall into the trap of always wanting more. But chasing more wealth can come at a cost: less time with loved ones, more stress, and in some cases, never fully enjoying what we’ve worked so hard to build. 

At Vibrance Wealth Management, we believe wealth is more than numbers. It’s about truly knowing what we want, the purpose of our wealth, and using resources wisely. We encourage clients to create a written plan to see clearly what they’ve built, define what “enough” means to them, and appreciate their accomplishments — both monetary and non-monetary — instead of always feeling behind. We also emphasize using wealth wisely, including through charitable giving, which creates impact beyond themselves.

There is a proverb that says, “Giving is more blessed than receiving.” By shifting focus from accumulation to purpose, we often discover a deeper sense of wealth, ultimately feeling that we have enough and are truly rich.

Read more: Charles Schwab 

So far in 2025, international and emerging market stocks have outperformed the S&P 500. Money tends to flow where opportunities are, and with U.S. stocks priced richly, investors are looking abroad to markets with lower valuations. Commodities like gold have also been strong.

Since 1975, leadership between U.S. and international markets has usually rotated every 8 years on average. We’re now 14+ years into a U.S.-led cycle, the longest ever. Each time in the past when investors said, “this time is different.,” the cycle eventually turned. And history oftentimes repeats itself because human nature, looking for opportunities to invest, does not really change. 

That said, the U.S. remains a global leader in AI and technology, which could extend its run. For most investors, the best approach is balance: maintain exposure to U.S. innovators while also adding about 10% to 20% to international and emerging markets. That way, your portfolio can capture opportunities no matter which region leads next. The right mix will vary by individual, so it’s important to work with your financial advisor to tailor allocations to your goals.

Read more: MORNINGSTAR

The Federal Reserve has signaled the possibility of another 0.25% interest rate cut this September. The last cut, in September 2024, came in response to easing inflation and signs of a slowing job market. Since then, markets have been volatile — the S&P 500 dropped more than 20% this April before recovering — reminding us how sensitive the economy is to both domestic and international shocks.

The Fed may once again act for similar reasons: inflation pressures have eased, and the labor market shows signs of cooling. But it’s important to remain cautious. Recent reports highlight growing concerns over the quality of government economic data. For example, the Bureau of Labor Statistics has revised job growth numbers downward, raising questions about whether official employment and inflation figures reflect the true state of the economy. 

Investors should be prepared for surprises. Markets can react sharply if the Fed cuts rates again or if economic data turns out to be less reliable than expected. Rather than relying only on headlines, it’s wise to draw on independent research and diverse sources of information. As always, protecting your portfolio from potential downside risks is just as important as pursuing growth opportunities.

Read more: FINANCIAL TIMES