By Meredith Rosen, President of Bedell Frazier Investment Counselling, LLC
Here we are, halfway through 2025. This has been a year full of uncertainty. While the stock market has remained relatively flat compared to where we stood in January, the path to this midpoint has been anything but steady.
As women in finance, we are in the habit of staying focused on the markets, the economy, and our clients. We’re trained to anticipate, adapt, and take care of others. But sometimes, we need the reminder to pause and do the same for ourselves.
Consider this your invitation to check-in and make sure you are in alignment with your own financial goals. Here are a few areas to consider as you reflect on the first half of the year and set intentions for the future.
You likely check this regularly for clients. But have you checked your own this year?
Are you on track to capture your full employer match? Are you maximizing contributions if that’s a goal for you? The contribution limit for 2025 is $23,000 ($30,500 if you are age 50 or older).
If you turned 50 this year, you can increase your withholding to include the “catch-up” amount. This “catch-up” is often a separate withholding you need to elect for in your 401k – take the time to be sure you are checking that box. Incremental increases now can have a lasting impact. As I like to say, little things add up to big things over time.
Changes in compensation, role, or bonus structure may require updates to your withholdings. If your pay increased this year (cheers to that!), make sure your W-4 still reflects your current situation. You also want to revisit how your additional income is being allocated, whether to savings goals, investments, or other priorities. You might consider adjusting your 401(k) contribution percentage accordingly based on your salary change, increasing funding to a 529 plan or college savings account, or carving out a “treat” bucket for a celebratory wardrobe refresh or well-earned trip. Be mindful of budgeting for these items so you don’t spend your raise more than once.
If market swings have left you feeling either a little more cautious or more confident, now is the perfect time to revisit your investment mix. Is your current investment selection still aligned with your long-term goals and current risk tolerance? Even for those of us in finance, life changes, stress levels, and goals evolve; our portfolios should reflect that. If you are unsure what investment risk is appropriate for you and your goals, consider consulting with a financial advisor for personalized guidance.
This task is easy to put off but can be quickly remedied. Have there been any changes in your personal life that warrant an update to beneficiary designations on retirement accounts or life insurance policies? Have you gotten married or divorced, had a child, lost a beneficiary, or experienced a change in relationship with a beneficiary? Beneficiaries can often be updated quickly online at your bank or broker’s website. If you have insurance policies, reach out to your agent for a quick check. They can facilitate any updates. Even without a major life event, reviewing beneficiaries annually is a good habit. Set a calendar reminder to nudge you.
If you are like me, your estate documents may be a little dusty. Summer is a perfect time to carve out some time to review your documents and bring them current if you have any changes. I suggest that documents be reviewed by an attorney every five years or after any major life change. Many law firms will hold video meetings to facilitate updating your documents in a way that is convenient for your schedule. I updated my estate documents earlier this summer and feel peace of mind knowing they are up to date with my current wishes. A lot has changed in my life in the 10 years since they were originally drafted!
Have there been any changes to your spending patterns this year? Did unexpected expenses pop up that shifted your savings or investment plans? If you dipped into emergency funds, now is a great time to rebuild. If credit card balances crept up, make a short-term plan to address them immediately before interest compounds the issue.
This is also a good opportunity to check in on your budget and financial priorities for the rest of the year. What matters most? Are your habits reflecting that? Vacation season can be expensive. As you make your final travel plans, be mindful of how much you can afford to spend. Staying within budget is all about trade-offs. If you overspend in one category, be sure to cut back in another.
As women in finance, we’re often the go-to source of guidance for others. We explain, plan, and optimize for everyone else. But let this be a gentle nudge to turn that same level of care and insight inward. The markets will do what they do. How we prepare and respond is where our power lies.
So, I encourage you to carve out an hour. Pour yourself a coffee (or something stronger). Look at your accounts. Revisit your goals. Focus on you.
You can thank me later.
From Connections Newsletter (Member Tips): July 2025
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The suggestions of the contributor do not constitute professional advice and are intended for general informational and educational purposes only. Nothing contained herein is intended to be or should be used as a substitute for professional advice, and readers should not act or rely on this information without seeking specific guidance directly from a qualified professional.
The opinions and information expressed in this blog/post/webpage are solely those of the contributor and do not necessarily reflect the views of FWSF. FWSF is not responsible for any errors or omissions in this content or any damages resulting from its use.