Well Balanced

For most people, retirement doesn’t stay the same from start to finish. It tends to move through distinct phases, each with different priorities and financial rhythms. Presented by Joe Grochowski, a senior wealth advisor at Vector Wealth Management. Connect with Joe and the team: vectorwealth.com/contact In this short video, I walk through what are often called the Go-Go years, the Slow-Go years, and the No-Go years. Early on, retirement may be active and experience-focused. Later, life often becomes steadier, with more attention on income alignment and simplifying finances. Eventually, planning may center more on health, support, and making things easier for you and your family. Put simply, your income strategy, withdrawal approach, and planning focus may need to evolve as your lifestyle changes. What works well in one phase may need adjusting in the next, and that flexibility is often a key part of thoughtful retirement planning. Watch the full video to better understand how these phases unfold and what to consider at each stage. - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. - vectorwealth.com/regulatory V26076323

Retirement isn't just leaving your job—it's a life shift. Your time, your days, and your finances all change. Here's what matters: ✅ Replace your paycheck with steady income from savings & investments ✅ Protect against inflation over 10-20 years ✅ Time Social Security & Medicare strategically ✅ Coordinate withdrawals to minimize taxes But it's not just financial. Work gives life structure—retirement requires finding new rhythms. Ready to make your transition intentional and well-planned? Let's talk. Contact Vector Wealth Management https://www.vectorwealth.com/start - V26070321 All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. vectorwealth.com/regulatory

In this informative presentation, Paul Ewing, Schwab’s Senior Technology Consultant, and Boima Freeman, Senior Financial Fraud Investigator at the Minnesota Department of Commerce, share real-world examples and actionable strategies to help you safeguard your financial accounts and personal information. Vector’s Senior Wealth Advisor Mike Nesheim moderates the fireside chat and Q&A with the audience. Suzy Klapperich, Vector’s Chief Compliance Officer, shares a best practice of having trusted contacts on file with your financial advisor and financial custodians. Learn about: Email Security Best Practices - Why email is the #1 attack vector and how to protect sensitive information Password Management - The critical importance of unique, long passwords and password manager tools Multi-Factor Authentication - Adding essential layers of security to your accounts Phishing & Social Engineering - How to recognize and avoid sophisticated scam attempts Romance & Investment Scams - Real cases and warning signs to watch for Check Fraud & Mail Security - Protecting yourself from check washing and mail theft Credit Freezing - Preventing identity theft with credit bureau freezes Minnesota Safe Senior Act - Legal protections available to prevent financial exploitation Discover practical tips like using VPNs, avoiding public WiFi, cleaning up old emails, and setting up trusted contacts. Whether you're concerned about protecting your retirement savings or simply want to strengthen your cybersecurity posture, this session provides essential knowledge to keep you and your family safe in an increasingly digital world. - V26050315_2

Fraud is no longer rare—it's happening everywhere. In 2024 alone, three out of ten people experienced attempted fraud, with one in ten falling victim. For Minnesotans age 60 and older, reported losses reached $52.2 million, with actual losses potentially much higher since many cases go unreported. In this recording, Boima Freeman, Senior Financial Fraud Investigator at the Minnesota Department of Commerce shares his experience with a presentation focused on: the impact of financial exploitation, trends and tactics, the MN Safe Senior Act, and his advice on what you can do to avoid becoming a victim of financial fraud. Sharon Calhoun, Managing Director and Suzy Klapperich, Chief Compliance Officer at Vector Wealth Management kick off this recorded live event and introduce Boima. Check out a second live recording from the event featuring Schwab’s Senior Technology Consultant Paul Ewing and Senior Wealth Advisor Mike Nesheim, along with Boima Freeman for a fireside chat and Q&A with the audience. Visit our blog for more. Scams have become increasingly sophisticated. Fraudsters impersonate trusted companies, government agencies, and even family members. They create urgency and fear, keeping victims on the phone while coaching them on what to say to their banks. Common tactics include tech support pop-ups, romance scams, investment schemes, and government imposter calls. Three Critical Rules to Remember: Don't answer unknown calls—if it's important, they'll leave a voicemail Hang up immediately if something feels wrong Verify by contacting the company directly using a number you trust Red flags include requests for payment via gift cards, cryptocurrency, or wire transfers; demands for secrecy; and pressure to act immediately. The IRS will never ask for gift cards. Banks don't call demanding you move money to "secure locations." Vector Wealth Management recently prevented a major fraud when a long-time client attempted to liquidate his entire portfolio. Through persistence and partnership with the Minnesota Department of Commerce, they discovered he'd fallen victim to a Microsoft tech support scam. Protect yourself: Establish trusted contacts with your financial institutions, create unique passwords for different accounts, and never rush financial decisions. If someone pressures you to keep secrets or act immediately, it's a scam. Remember: Only you can prevent fraud. When in doubt, hang up and verify through official channels. - V26050315_1

The S&P 500 closed 2025 with an impressive 17% gain, underscoring the market’s resilience and strength. That strong finish came despite a challenging start to the year. In this update, we revisit what last year’s swings taught us and look ahead to how broader market participation is shaping the landscape for 2026. - More details on our website: vectorwealth.com Contact us: vectorwealth.com/contact - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. - vectorwealth.com/regulatory V26020309

As we kick off the new year, we want to share a simple habit that can make a meaningful difference in your financial life: organizing your financial documents. Think of this as your Marie Kondo or Barbara Costello moment—but for your finances. A small amount of effort now can make the rest of the year feel smoother, more organized, and less stressful. What does financial decluttering involve? It really comes down to three key areas: account statements, tax documents, and important legal paperwork. 1. Account Statements & Confirmations Your monthly or quarterly custodian statements are the official records of your accounts. If you’re still receiving paper statements, consider switching to electronic delivery—it’s faster, easier to store, and more secure. In most cases, keeping your most recent statement is all that’s needed. If you’re holding onto statements from 10–15 years ago, it’s worth checking with your advisor before discarding them. Older documents may contain cost basis details that aren’t always tracked by custodians. 2. Tax Documents Keep your most recent tax return somewhere easy to access as new tax documents from the prior year begin arriving. Having last year’s return handy helps you know what to expect and simplifies the process for you or your accountant. A simple system works best. Consider creating a folder—digital, physical, or both—for each tax year. Inside, include items such as: W-2s and 1099s Investment statements Charitable giving receipts Medical and childcare expense records Mortgage interest statements Estimated tax payments Any other documents needed for filing 3. Important Legal Documents This category includes: • Wills • Powers of attorney • Healthcare directives • Beneficiary designations • Insurance policies • Birth and marriage certificates Make sure these documents are up to date, stored securely, and accessible to someone you trust. Having them organized provides peace of mind and makes things much easier for your loved ones if they ever need them. A Simple 30-Minute Challenge Schedule just 30 minutes this week—Tuesday at noon, for example—to: • Review last year’s tax return • Check on your key legal documents • Create folders for the new tax year You might even consider making this a recurring annual calendar event. Your future self—and your family—will thank you. Staying organized reduces stress, helps prevent mistakes, and keeps your financial life running smoothly. And if you’d like help getting started or want to review your documents together, don’t hesitate to reach out. We’re always here to support you. - vectorwealth.com/contact - V25351303 vectorwealth.com/regulatory - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment.

Get a head start on your financial goals for 2026! In this episode, Chris Wagner, Wealth Advisor at Vector, shares six financial planning topics for the year ahead. Financial Planning in the New Year 73+ in 2026? Plan for Required Minimum Distributions (RMDs) from pre-tax accounts Maximize Giving with Qualified Charitable Distributions (QCDs) Roth Conversion for tax-free growth once in a Roth IRA Beneficiary Designations – Reminder to review and update Fund a Donor-Advised Fund (DAF) with appreciated investments Contribute to a 401(k) or HSA: Updated Limits in 2026 Plus, New Catch-Up Contribution Rule for High Earners If you’re age 50 or older and earned more than $150,000 with the same employer last year, all of your 401(k), 403(b), or 457(b) catch-up contributions must go into a Roth 401(k) account. 2026 is a transition year for this rule, with full enforcement starting in 2027. Check with your employer or retirement account custodian to learn if your plan is eligible. Whether you’re planning for retirement, looking to optimize your tax strategy, or simply want to stay informed about the latest changes, Vector is here to help. Happy New Year! - Connect with Vector at vectorwealth.com - Regulatory All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. Vectorwealth.com/regulatory

The Federal Reserve (Fed) recently lowered interest rates again. We discuss why—and what it could mean for markets and investors. Here’s a clear, plain-English update. What the Fed Did The Fed reduced its benchmark interest rate by another quarter of a percent this December, bringing the federal funds rate to about 3.50%, the lowest level in roughly three years. This marks the third consecutive rate cut following a period of aggressive rate hikes that began in 2022 to combat inflation. The federal funds rate is the interest rate banks charge one another for overnight loans, but its influence extends much further—affecting mortgage rates, business borrowing costs, and consumer credit. Why the Fed Cut Rates The Fed has a dual mandate: • Price stability, defined as inflation of about 2% annually (measured by the PCE index) • Maximum sustainable employment, meaning healthy job growth without overheating the economy Recent economic data—some of it delayed by the government shutdown—suggests that hiring is slowing, even as inflation continues to cool. That combination gave the Fed room to ease policy modestly without undoing progress on inflation. Beyond Rate Cuts: A Shift in Policy In addition to lowering rates, the Fed announced an important change to its balance sheet strategy. It ended its policy of allowing bonds to mature without reinvestment (known as quantitative tightening). Instead, the Fed will begin Reserve Management Purchases (RMPs)—buying roughly $40 billion per month in Treasury bills. While framed as a liquidity-stabilization effort, the practical effect is similar to quantitative easing: adding liquidity to the banking system to keep money moving through the economy. How Markets Have Responded Markets initially reacted positively, with stocks moving higher following the announcement. That said, not everyone at the Fed agreed—some policymakers dissented—highlighting ongoing uncertainty about how much further easing may occur. See our past Market Perspective episode titled “The Pen is Mightier than the Sword,” where we discuss how the Fed affects markets without adjusting interest rates. What This Means for Investors Lower interest rates can support economic growth by reducing borrowing costs and encouraging investment. This environment can be favorable for stocks if inflation remains contained and corporate earnings hold up. That said, we’re closely monitoring: • Employment trends • Consumer spending • Corporate earnings Staying Grounded in Your Plan While Fed decisions and short-term market moves make headlines, our approach remains consistent: bucket-based, goals-focused planning. We align your investment strategy with your personal objectives—whether that’s retirement, a business transition, or legacy planning—rather than reacting to every policy shift. If you have questions about how recent Fed actions may impact your portfolio or financial plan, please don’t hesitate to reach out. We’re here to help. - vectorwealth.com/contact - Regulatory All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. Vectorwealth.com/regulatory - V25349300

When it comes to retirement planning, one crucial piece often gets overlooked: your will. As you near retirement, a quick review can help ensure your wishes are clear and up-to-date, and your loved ones are protected. In this short video, we share about why, when, and how to update your will and ensure your estate documents are current and complete. If you have questions or need guidance on updating your estate plans, contact our office today to schedule a meeting. - vectorwealth.com/contact Sharon Calhoun, Managing Director - Regulatory All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. Vectorwealth.com/regulatory - V25342294

vectorwealth.com/contact - At Vector Wealth Management, we believe that strong families build strong legacies. One of the most effective—yet often overlooked—tools for achieving this is the regular family meeting. Why Family Meetings Matter Family meetings aren’t just for large family offices or businesses. They’re a powerful way for any family to improve communication, strengthen relationships, and ensure everyone understands the purpose and plan behind your family’s wealth. These meetings create intentional space to talk about what matters most: your values, goals, and the legacy you’re building together. What Can You Achieve? Share family history and stories Give every family member a voice Educate about shared assets, investments, or estate plans Introduce your advisors and clarify roles within the family Help family members build financial confidence for the future. Tips for Running Effective Family Meetings Define a clear purpose for each meeting Decide who should attend—immediate family, spouses, or even older grandchildren Share an agenda and materials in advance Establish ground rules to ensure everyone is heard Foster open, positive dialogue and focus on shared values The Long-Term Benefits Families who meet regularly are better prepared for life’s transitions. These conversations build trust, clarity, and resilience, helping your family navigate change with confidence. We’re Here to Help If you’d like help getting started—whether it’s structuring your first meeting, hosting a meeting space, or aligning your estate plan with your family’s goals—your Vector team is here to support you every step of the way. -> Regulatory All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. Vectorwealth.com/regulatory V25338293

vectorwealth.com/contact - High-earning families often do everything right: they save, they invest, and they plan ahead. But many still bump into a frustrating limitation—income limits that prevent direct Roth IRA contributions. In this episode of Well Balanced, Senior Wealth Advisor Mike Nesheim shares a story that highlights a potential solution for high earners: the backdoor Roth IRA. The household: a physician and spouse were saving diligently, but their high income meant they couldn’t make Roth IRA contributions. They assumed that opportunity was simply off the table. It wasn’t. After reviewing their situation together, Mike showed them how a backdoor Roth IRA could be a powerful long-term planning strategy. How the Strategy Works When income is too high for a direct Roth IRA contribution, you may still be eligible to: 1. Make a nondeductible (after-tax) contribution to a traditional IRA. 2. Convert it to a Roth IRA, where future growth and qualified withdrawals are tax-free. 3. Repeat annually if it aligns with your household tax picture. For this couple, the spouse—who wasn’t working full-time—was still eligible to contribute to an IRA because they filed jointly. That alone opened the door to decades of potential tax-free growth via Roth conversion. A Word About Rules: The Pro Rata Rule This isn’t a one-size-fits-all approach. The IRS looks at all your IRA balances when calculating how much of a conversion is taxable. This is known as the pro rata rule. If you only have after-tax IRA contributions with no pre-tax IRA balances, the conversion is generally tax-free. However, if you have pre-tax IRA balances, the conversion will be prorated. It’s these nuances that make thoughtful planning and coordination with your advisor and tax professional essential. Done thoughtfully, this strategy may be a meaningful lever in your long-term plan. If you’re wondering whether a backdoor Roth IRA—or any type of Roth conversion—fits your household, connect with your Vector advisor. We’re here to help you explore your options thoughtfully and in the context of your broader plan. And if this story resonates or reminds you of someone in your life, feel free to share it. Sometimes the right idea at the right time makes all the difference. - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. Learn more: vectorwealth.com/regulatory - V25324292

A Moment of Low Consumer Confidence — and What’s Behind It In the most recent episode of Well-Balanced, Vector’s Jason Ranallo discusses the latest drop in U.S. consumer sentiment. November’s reading from the University of Michigan fell to 50.3, the second-lowest point since the pandemic recovery. The decline spanned age groups, income levels, and political affiliations — though households with larger stock ownership were noticeably more optimistic after a strong market year. Uncertainty continues to be the biggest drag. Concerns around the government shutdown and signs of a cooling labor market have made consumers hesitant heading into the holidays. Yet inflation expectations — how we believe future prices will behave — remain fairly steady. Economic Cycles vs. Market Cycles Cycles are normal. Historically: U.S. economic expansions average about four years Bull markets run for about 70 months, delivering cumulative returns above 220% on average Recessions last just over a year, Bear markets decline for roughly 14 months with an average drop of 39%, (*based on the S&P 500 index over the last ~100 years) Each downturn feels unique while we’re in it — the 1970s, the dot-com era, the financial crisis, the pandemic — yet markets have recovered every time, often stronger than before. Where Things Stand Today Despite low sentiment, several fundamentals remain supportive: Corporate earnings have generally been solid, Inflation has moderated, And the Federal Reserve has begun easing interest rates, gradually. Periods like this — when confidence is low but fundamentals are stabilizing — have historically preceded some of the strongest one-year market returns. A Framework for Uncertain Environments Two core principles that guide Vector’s planning approach: Diversification across markets, assets, geographies, and time periods We can’t predict which part of the market will lead in the short term. A goals-based or “bucket” structure Short-term spending needs are separated from longer-term growth buckets, helping individuals navigate volatility without disrupting their broader plan. Take Aways Low consumer confidence doesn’t always signal weakness in markets. Sometimes, it simply reflects uncertainty during transition — and history shows that patient, long-term investors have often benefited by sticking to the plan. If you’d like to review how your own financial buckets are positioned for the next few years, feel free to reach out. And if you found this helpful, share this Well-Balanced episode with anyone who might appreciate the perspective. - vectorwealth.com/contact vectorwealth.com/regulatory - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed.

Some lessons are too valuable to keep to ourselves. If there’s someone in your life—a child, grandchild, or friend—who’s just beginning to save or invest, consider passing along this episode of Well Balanced. David Moser shares a simple, yet powerful illustration of how compound interest turns small, consistent investments into lasting wealth over time. Even for those already living off their portfolios, it’s a powerful reminder of why time and consistency matter. In David’s story, four friends each invest $1,000 per month, earning the same, for illustration purposes, 7% annual return but starting at different ages: · At 52, the total grows to about $170,000 after 10 years. · At 42, roughly $520,000 after 20 years. · At 32, over $1.1 million after 30 years. · At 22, about $2.5 million after 40 years. Each invests the same monthly amount—but the ones who start earlier let time do most of the work. It’s a great reminder for all investors: compound interest rewards patience, not perfection. 💡 Share this episode with someone who could use a head start—or a fresh perspective—on the power of saving early. - Chapters 0:25 Introduction to Compound Interest 1:44 The Scenario 3:02 Comparing Outcomes 4:30 The Hockey Stick Effect 5:21 Key Takeaways and Action Steps 5:56 Regulatory - vectorwealth.com/regulatory - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. - V25300287

If you own property in Minnesota but live elsewhere, you could face estate tax liabilities. Let’s say you live in Florida but own property in the great state of Minnesota—perhaps a summer cabin or investment real estate—understanding Minnesota’s estate tax laws is crucial for your financial planning. In this week’s Well Balanced podcast episode, Vector’s Managing Director, Sharon Calhoun discusses estate taxes and what out-of-state property owners need to know. Minnesota is one of only a dozen states that still impose a state-level estate tax, with an exemption of just $3 million (as of 2025). This is significantly lower than the federal exemption of $13.9 million, meaning many families who wouldn’t owe federal estate tax could still face a substantial Minnesota tax bill. Tax rates range from 13% to 16%, and the state’s overall tax burden is among the highest in the nation. Even if you’re domiciled in a tax-friendly state like Florida, your Minnesota-based assets may be subject to this tax. The calculation is pro-rated: the tax is first determined as if you were a Minnesota resident, then adjusted based on the proportion of your estate located in Minnesota. Key considerations include the lack of portability for married couples, the inclusion of certain gifts made within three years of death, and the treatment of property held in entities like LLCs. Estate planning in this environment is complex, but proactive strategies can help minimize surprises for your heirs. If you think these rules may affect you or your family, please reach out to your Vector Wealth Management advisor for personalized guidance. - This material is for informational purposes only and is not intended as, nor should it be relied upon for, tax, legal, or accounting advice. Always consult your own tax, legal, and accounting advisors before making decisions or implementing strategies. Learn more vectorwealth.com/regulatory - V25294285

Online Scams: How to Spot and Stop Them Before It’s Too Late Fraudsters are getting smarter — and more personal. One in three adults will face an online scam attempt this year, and even the most tech-savvy among us can be caught off guard. In this recent Well Balanced podcast, Chief Compliance Officer Suzy Klapperich and Vector advisor Charlie Gruys discuss the rising threat of online scams, including a real client experience that shows just how convincing these attacks can be. “My client saw a big red warning on his screen saying his computer was infected,” Charlie explains. “The message told him to call Microsoft immediately — but that number went straight to the scammers.” These scams are designed to create panic. They mimic trusted companies, use countdown timers, and even include robotic voices warning you not to shut down your computer. In the rush to “fix” the problem, many victims unknowingly give criminals remote access to their devices and financial information. Prevent and Protect Suzy and Charlie share a few key steps to prevent — and respond to — fraud attempts: Don’t call the number. If you see a pop-up or urgent message, close your browser window. Never grant remote access unless you initiated the request with a verified company. Call your advisor or a trusted family member if you’re unsure whether something is legitimate. A quick conversation can stop a phishing attempt or scam in its tracks. Have a trusted contact on file at Vector. This gives your advisor someone to reach out to if something looks suspicious and you’re unavailable. If you think you’ve been targeted, act fast. Contact your advisor or financial institution right away. Even if you’ve already shared personal information, firms and custodians have safeguards that can help freeze accounts and limit damage. These scams are designed to trick you into opening the door. By staying alert and knowing scammer’s tactics, you can stop or limit the impact if something does occur. The Bottom Line Scams aren’t going away, but with awareness, communication, and the right safeguards, you can manage and limit risk. Remember — if something feels urgent, frightening, or too good to be true, it probably is. If you’d like to learn more about protecting your financial accounts, reach out to your advisor at Vector Wealth Management. Visit vectorwealth.com/cyber-security for more information. Chapters: Introduction (0:00) The Scam Threat (0:49) Real-Life Example (1:09) How Scams Work (1:49) Protecting Yourself (2:28) Trusted Contacts (3:00) Regulatory (4:57) - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. Please note that neither Vector Wealth Management nor any of its agents give legal or tax advice. The firm is not engaged in the practice of law or accounting. Charts, graphs, and returns do not represent the performance of Vector Wealth Management or any of its advisory clients. Returns presented do not reflect the impact that advisory fees and other expenses would on the results. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment, asset category, or strategy will be suitable or profitable for a client’s portfolio. vectorwealth.com/regulatory - V25288284

Medicare is an important part of retirement planning, and for many is a topic that can feel overwhelming—especially with significant changes on the horizon. In our latest video, Joe Grochowski, Senior Wealth Advisor at Vector Wealth Management, breaks down what you need to know about Medicare, upcoming changes, and how to prepare. Understanding Medicare: The Basics Medicare is the government’s health insurance program for people 65 and older. It’s made up of four main parts: Part A: Hospital insurance (usually premium-free if you’ve worked long enough) Part B: Outpatient care, like doctor visits (monthly premium applies) Part C: Medicare Advantage, a private plan that bundles A and B, sometimes with extra perks Part D: Prescription drug coverage You’re eligible at age 65, with a seven-month window to sign up (three months before your birthday month, your birthday month, and three months after). Missing this window can result in penalties. What’s Changing in 2026? Several important updates are coming, especially for clients in Minnesota: UCare Exit: UCare is leaving the Medicare Advantage market at the end of 2025, affecting about 158,000 Minnesotans. If you’re on a UCare plan, you’ll need to select new coverage during the annual enrollment period (October 15 – December 7, 2025) to avoid losing coverage in January 2026. Medigap Flexibility: Minnesota is expanding guaranteed issue protections for Medigap (Medicare Supplement) plans in 2026. This means more people can switch plans without medical underwriting—a win for those with pre-existing conditions. However, premiums are expected to rise by about 6% on average. National Changes: Part D drug costs will be capped at $2,100 per year starting in 2026, with no more out-of-pocket costs for covered prescriptions after that. Medicare will begin negotiating prices for high-cost drugs, which could lower pharmacy bills. Medicare Advantage plans will face tighter rules on extra perks, focusing on real health outcomes. Expect increases in Part B premiums and IRMAA surcharges, especially for higher-income individuals. What Next? Here are a few key action items to keep in mind: If you’re on a UCare Advantage plan, mark October 15, 2025, on your calendar for open enrollment. Considering Medigap? 2026 brings more flexibility, but likely higher premiums—start exploring your options now. Using Part D? Budget for the new drug cap and check which medications will be covered under negotiated pricing. Each fall, review your annual notice of change to stay ahead of updates. Stay Proactive Medicare isn’t a “set it and forget it” program. The rules, costs, and your health needs can all change. Whether you’re preparing for your first enrollment or looking to optimize your current coverage, staying informed and proactive is essential. Stay well balanced! - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. Please note that neither Vector Wealth Management nor any of its agents give legal or tax advice. The firm is not engaged in the practice of law or accounting. Charts, graphs, and returns do not represent the performance of Vector Wealth Management or any of its advisory clients. Returns presented do not reflect the impact that advisory fees and other expenses would on the results. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment, asset category, or strategy will be suitable or profitable for a client’s portfolio. vectorwealth.com/regulatory

Fall is the perfect time to do a little “financial spring cleaning.” At Vector, we’re committed to helping our clients achieve long-term goals, but there are also some small steps you can take right now to set yourself up for success. Here are five easy financial tasks you can tackle this fall: Review Your Beneficiaries Take five minutes to log into your retirement accounts, life insurance, or old 401(k)s and make sure your beneficiaries are up to date. Life changes—marriages, divorces, new family members—can happen quickly, and keeping your paperwork current can save your loved ones stress down the road. Refresh Your Passwords Just like changing the batteries in your smoke detector, updating your passwords is routine maintenance that protects your most valuable assets. Update weak or duplicate passwords, enable two-factor authentication, and make sure a trusted family member knows how to access your key accounts if needed. Consider using a password manager for extra security. Sweep Out Old Subscriptions Take a look at your bank and credit card statements for recurring charges—subscriptions, apps, streaming services—that you no longer use. Canceling these can feel like finding extra cash in your pocket and gives you back control over your finances. Review Your Insurance Coverage Insurance is easy to set and forget, but it’s important to make sure your coverage still fits your life. Review your home, auto, umbrella, life, and disability policies. Have you added new valuables? Has your liability protection kept pace with your needs? A quick review now can prevent surprises later. Organize Your Key Documents Make sure your wills, trusts, healthcare directives, powers of attorney, and insurance policies are all in one place—whether digital or physical—and that someone you trust knows where to find them. This organization provides clarity for your family during stressful times. A Little Maintenance Goes a Long Way None of these tasks should take more than a few minutes, but together they’ll give you a clearer, more confident financial picture heading into the new year. If you have questions or want help prioritizing areas of your financial life, please reach out to your team at Vector Wealth Management. We’re here to support you every step of the way. - Please note that neither Vector Wealth Management nor any of its agents give legal or tax advice. The firm is not engaged in the practice of law or accounting. All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. All investment strategies have the potential for profit or loss. Past performance is not indicative of future performance. Form CRS and other regulatory information is available on our website: vectorwealth.com/regulatory - V25269280

Fall is a natural time to pause, reflect, and make sure your financial plan is aligned. At Vector, we proactively look across our client’s financial picture to identify opportunities that could improve tax efficiency before December 31st. Five Year-End Tax Planning Strategies 1. Roth Conversions – Paying some taxes now at current rates may provide more flexibility in retirement. 2. Tax Loss Harvesting – Using market downturns to offset gains and manage taxes in a disciplined way. 3. Capturing Capital Gains – Realizing gains strategically to rebalance or step up a cost basis. 4. Distribution Strategies – Evaluating which accounts to draw from, and when, to balance taxes and portfolio longevity. 5. Charitable Giving – Making generosity go further with strategies like donating appreciated securities or Donor-Advised Funds. While not every strategy fits every situation, the right ones can potentially make a meaningful difference. For more context, Vector’s Mike Nesheim dives into these topics in this week’s Well Balanced podcast. - vectorwealth.com/start to schedule an intro call. - Please note that neither Vector Wealth Management nor any of its agents give legal or tax advice. The firm is not engaged in the practice of law or accounting. All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. All investment strategies have the potential for profit or loss. Past performance is not indicative of future performance. Form CRS and other regulatory information is available on our website: vectorwealth.com/regulatory - V25258275

Why September Stands Out If you’ve heard of the “September Effect,” you already know the reputation. Over a century of data, every month of the year has averaged a positive return for the S&P 500—except September. Its historical average is a decline of about 0.8%. At the other end of the spectrum sits July, the strongest month, with an average gain of nearly 2%. In 2025, July (and August) lived up to that record, delivering fresh all-time highs for the index. Is September doomed to weak performance just because it has followed the good vibes of summer? Let’s dig deeper to understand what is behind these numbers. Frequency and Outliers What makes September unusual isn’t just the size of its average decline. It’s also the frequency. About half of all Septembers finish in the red, compared to the typical month, which is positive nearly two-thirds of the time. But the averages hide the real story. If you look closer, September’s record is heavily influenced by about 10 extreme downturns since the 1920s. These coincided with global events and systemic stress—like the Great Depression, the dot-com collapse, and the 2008 financial crisis. Remove just 10 outlier Septembers, including three from the Great Depression alone, and the month shifts from negative to positive. That tells us September’s reputation comes less from built-in seasonal weakness and more from a handful of extraordinary moments in market history. Context for Today Fast forward to today: we don’t see the same structural cracks that defined those historically bad Septembers. Surprises are always possible—markets have a way of delivering the unexpected—but current conditions look very different from the environments that produced those extreme outliers. It’s also important to note the setup. After a strong 2025 summer run, with the S&P 500 posting multiple new highs, some cooling off is normal. What Investors Can Do At Vector, we emphasize a disciplined approach to rebalancing. After strong gains, rebalancing means trimming back what has grown ahead of expectations and reallocating towards other areas . This helps manage concentration risk and turns volatility into an opportunity. So, is September truly cursed? Unlikely. More than anything, it reminds us that markets don’t move in straight lines—and even one of the world’s most consistent wealth-building engines has its off months. The long-term trend remains clear: growth outweighs the setbacks. A diversified plan, paired with conditions-based rebalancing, provides the steady foundation investors need—through Septembers, through Octobers, and well beyond. -- Contact us: vectorwealth.com/contact or schedule an intro call: https://www.vectorwealth.com/start - Disclosures and Regulatory vectorwealth.com/regulatory - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. Please note that neither Vector Wealth Management nor any of its agents give legal or tax advice. The firm is not engaged in the practice of law or accounting. Charts, graphs, and returns do not represent the performance of Vector Wealth Management or any of its advisory clients. Returns presented do not reflect the impact that advisory fees and other expenses would on the results. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment, asset category, or strategy will be suitable or profitable for a client’s portfolio.

In moments when you need short-term liquidity—whether for a home down payment, a business opportunity, or bridging a timing gap—your portfolio can offer more flexibility than you might think. In our latest podcast, Wealth Advisor David Moser explores three strategic solutions available to Vector clients through their Schwab accounts. We talk though how each solution can provide access to funds based on your existing portfolio value. Overview 60-Day IRA Rollover Withdraw from your IRA without tax or penalty—as long as the funds are returned within 60 days. This can be a smart strategy for short-term cash needs, such as bridging a home sale. Keep in mind, this strategy requires selling investments, which means sitting out of market participation during the rollover period. Margin Loan Borrow against your brokerage account—no credit check or approval required. Your investments remain intact, and you avoid triggering potential capital gains. This option offers quick, flexible liquidity and, as a Vector client, you benefit from reduced negotiated interest rates through Schwab. Pledged Asset Line (PAL) A more structured loan against your brokerage account, typically suited for larger borrowing needs (minimum $100K). While it requires an application and setup process, it offers potentially higher borrowing limits—often around 60–70% of your portfolio’s value—compared to a margin loan. Each of these tools are generally available for investors with financial assets held at a custodian like Schwab—and each comes with its own pros and cons depending on your goals, account type, and timeline. Our role at Vector is to help you consider solutions that fits your financial plan best. If you’d like to learn more or explore which lending strategy may be right for you, we’re here to help. - Contact us: vectorwealth.com/contact or schedule an intro call: https://www.vectorwealth.com/start - Disclosures and Regulatory vectorwealth.com/regulatory - All content discussed in our podcasts, videos, or related blog articles are for informational purposes and should not be construed as individualized financial advice. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation of a strategy or investment. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. Please note that neither Vector Wealth Management nor any of its agents give legal or tax advice. The firm is not engaged in the practice of law or accounting. Charts, graphs, and returns do not represent the performance of Vector Wealth Management or any of its advisory clients. Returns presented do not reflect the impact that advisory fees and other expenses would on the results. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment, asset category, or strategy will be suitable or profitable for a client’s portfolio.