October is Financial Planning Month. It is a useful reminder that a financial plan is more than an investment portfolio or a number you hope to reach by retirement. It connects the decisions you make today with the life you want your money to support.
That matters when the headlines are unsettled. In September, the Federal Reserve raised its policy rate by a quarter point, citing inflation that remains elevated. Higher rates can affect borrowing costs, bond prices, business financing, and the timing of a major purchase or sale. Energy and geopolitical risks add another layer of uncertainty. You cannot control those events, but you can decide how prepared you are to respond.
The value of a plan shows up in the decisions it helps you make. Do you have enough accessible cash without leaving too much idle? Does your investment mix still fit your goals? Are you coordinating retirement withdrawals with taxes and Medicare costs? If you own a business, do you know how a potential sale would change your income, tax picture, and estate plan?
There is evidence that this broader approach makes a difference. In CFP Board’s 2025 Financial Planning Longitudinal Study, 83% of households advised by CFP® professionals reported having at least three months of income in an emergency fund, compared with 53% of households without an advisor. Sixty-one percent reported having a will, compared with 24% of unadvised households. These are associations, not a promise that hiring an advisor caused those results. They do show why an advisor’s value should be measured across the whole financial picture, rather than by investment returns alone.
Consider retirement income as one example. A Qualified Longevity Annuity Contract, or QLAC, allows an eligible person to use a limited amount of qualified retirement assets to purchase income that begins later in life. Under IRS rules, the contract’s value is generally excluded from the account balance used to calculate required minimum distributions before payments begin. That may reduce RMDs during those years and, depending on the rest of a household’s income, could affect taxes or Medicare income-related premiums. It does not eliminate tax on future payments. A QLAC also involves limits, reduced access to the money, insurer risk, and choices about survivor benefits. Whether it helps depends on the full retirement and legacy plan.
Longevity planning extends beyond income. CareScout’s 2025 cost-of-care survey puts the national median cost of assisted living at $74,400 a year and a private nursing home room at $129,575 a year. Costs vary by location and care needs, but the question is relevant to many families: If care becomes necessary, where will the money come from, and who will be ready to make decisions?
For business owners, the same planning discipline matters before an exit is on the calendar. The sale price is only one piece. Taxes, how much wealth is tied to the business, income after the sale, and what you want to pass on all deserve attention before a transaction becomes urgent.
This month, I encourage you to ask one simple question: What important financial decision am I making without seeing how it affects the rest of my life? It might be a retirement date, an inheritance, a business transition, or support for someone you love. A good plan gives those decisions context—and gives you a clearer next step even when the markets do not offer certainty.
If it has been a while since we looked at your full picture together, let’s make time to revisit what has changed and what matters most now.
Securities offered through Kestra Investment Services, LLC (Kestra IS), Member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Kestra IS or Kestra AS are not affiliated with Moonshot Financial Group. Moonshot Financial Group does not offer tax or legal advice. Investor Disclosures: https://www.kestrafinancial.com/disclosures .