Our June 2026 Newsletter

As Americans approach age 59, retirement planning shifts from a distant goal to an immediate reality check. This stage often prompts a closer look at 401(k) balances and whether savings align with future lifestyle expectations. Recent data reveals wide variation in retirement readiness, with averages influenced heavily by high earners and medians showing a more modest picture.

According to recent Fidelity retirement analysis, Americans in the 55-59 age range hold an average 401(k) balance of roughly $250,000, with median balances closer to $90,000 to $100,000. The gap matters. Average numbers are pulled up by high savers, while the median shows what a typical worker has. That means about half of savers nearing 60 have less than six figures saved in their workplace plan.

Understanding how your savings compare - and what factors shaped them - can help you assess where you stand. More importantly, it highlights what steps you can still take to strengthen your financial position before retirement.

Click here to read the full article.

The charts¹ below outline 2026 standard contributions as well as catch-up contributions:

Americans Want a Different Kind of Retirement

Americans are redefining what retirement looks like, shifting away from traditional expectations toward more active, purpose-driven lifestyles. New research from Edelman Financial Engines shows that many people now prioritize time, health, and meaningful experiences over simply accumulating wealth. Yet despite this evolving vision, financial pressures—from inflation to concerns about Social Security—continue to shape what’s possible. The findings highlight a growing tension between what people want from retirement and the economic realities they face. As priorities change, the way Americans plan and pay for retirement is changing right along with them.

To read the full article, click here.

Planning for Retirement? Here's How to Estimate Your Expenses More Accurately

As millions of Americans approach retirement age, understanding future expenses has become more important than ever. Accurately estimating what you’ll need after you stop working can mean the difference between financial confidence and uncertainty. While predicting every cost isn’t realistic, a thoughtful approach—grounded in your current spending and future plans—can provide a clearer picture. From healthcare and inflation to lifestyle changes and big-ticket expenses, several factors shape your retirement budget. Taking the time to plan now can help work toward ensuring your savings align with the life you want in retirement.

Click here to read the full article. If you need help making a budget for retirement, or are interested in having retirement projections completed, feel free to contact SFS at (518) 584-2555.

Busting the Myth: AI Will Create More Jobs, Not Fewer ²

The first chart below compares the unemployment rate for the entire US population with the unemployment rate for people ages 20 to 24. It does not show any sign that unemployment among younger workers is structurally higher because of AI.

Similarly, the second chart shows the unemployment rate for US college graduates ages 22 to 27. The unemployment rate has increased for men, but it has recently converged toward the unemployment rate for women. For women, since ChatGPT was released, the unemployment rate has been moving lower, and more recently it has increased slightly again.

There is no sign that AI is increasing unemployment among younger workers, and there is also no sign that young people or recent college graduates are having a harder time finding jobs at the moment than other demographics.

The surge in new US business formation is being fueled by AI and large language models, which are dramatically reducing the cost and complexity of launching a company, see chart below.

But scale cuts both ways. As some firms grow and others get disrupted, we will over time see a meaningful impact on the US labor market.

One Last Belmont in Saratoga Springs!

Saratoga is buzzing with activity this month, specifically this weekend to celebrate the last time we're hosting the Belmont Stakes before it moves back to the newly renovated Belmont Park. Fourteen storefronts on Broadway competed in the 2026 "Belmont on Broadway" Storefront Decorating Contest - take a stroll downtown to see them all gussied up!

Here are a few events you may want to add to your calendar:

• Today through Sunday 6/7: 2026 Belmont Stakes at Saratoga Race Course
• Sunday 6/14: Beekman Street Art Fair
• Saturday 6/27 & Sunday 6/28: The 49th Annual Saratoga Jazz Festival

For a complete list of local events, click here.