A few years ago, a family member transitioned to assisted living. The decision felt difficult for her, like a loss of independence. She fought it hard. But once she settled in, something unexpected happened: she found routine, connection, and purpose again.

Watching that shift reframed how I think about financial planning.

As planners, we often approach aging and retirement through a practical lens. We focus on the details: health care plans, long-term care, estate documents, and whether the financial plan can support the years of spending ahead.

Those things matter. But quality of life matters too. So does preserving a sense of agency as your needs, abilities, and priorities change.

Earlier this year, during a conversation about a client’s transition into assisted living, his daughter suggested I read Being Mortal by Atul Gawande.

I’m glad she did. The book changed how I think about the later stages of life and the role planning should play in them.

1. Independence Matters More Than Perfect Safety
One of the book’s core ideas is that many senior living decisions prioritize safety over autonomy. Safety matters, of course. But losing independence can take a real toll on wellbeing.

The best living environments preserve choice: how you spend your day, who you’re around, and what gives you meaning.

We’ve seen this with clients who explore senior communities early, before they need them. Beginning earlier gives families more agency over the decision. It can also help clients gain more life through social connection, activities, and less stress about home maintenance.

2. Purpose Is Fundamental to Wellbeing
Gawande highlights research showing that even small responsibilities, like caring for a plant, can improve wellbeing and longevity for older adults.

The lesson is simple: people need purpose. They need a reason to get out of bed in the morning.

Financial independence is important. But planning should also ask what replaces the structure and meaning that work once provided. People who thrive in this phase often stay connected to hobbies, community, family, or roles where they still feel needed.

3. Define Quality of Life, Before a Crisis
Being Mortal reminds us that our definition of quality of life changes over time.

When we’re younger, it may mean freedom and adventure. Later, it may mean staying close to family, maintaining familiar routines, or enjoying a favorite meal with people we love.

Many families avoid talking about aging until a crisis forces decisions. The book encourages asking better questions sooner:

• What are your fears and goals as you get older?
• What tradeoffs would you be willing, or unwilling, to make?

In our advisory role, we’ve seen how helpful it is when families have these conversations before a medical event or major transition. When your values are clear, decisions become less about guessing and more about honoring what matters most.

Planning for aging doesn’t mean expecting the worst. It means getting clear about what matters most, so that when decisions come, they reflect your values instead of default choices.

At Hill, we believe financial planning is about more than numbers. Taking the long view means helping people live well across every stage of life, with clarity, confidence, and peace of mind.

If this sparks a conversation about aging, independence, or planning for later life, we’re here to help you or someone you care about talk through it. Reach out any time here.

Earlier this month, with the IPO of SpaceX, the world witnessed the creation of the world’s first known trillionaire.

How does that number look to you?

How does it make you feel?

Humans have real feelings and emotions, especially when it comes to money and wealth. We naturally compare ourselves to others. It’s human nature. As the saying goes, “It’s all relative.”

But that’s precisely the challenge.

If a billion dollars once seemed unimaginable, what are we supposed to do with a trillion? More importantly, what happens when we compare ourselves to someone who possesses it?

The truth is that comparison has no finish line. If wealth alone created contentment, a millionaire would envy no one. Yet we know that’s not how humans work.

Over more than 25 years in the wealth advisory profession, I’ve noticed something interesting, particularly among our clients at Hill Investment Group.

When people first meet with us, they often have a number in mind.
“I want to have $X.”

It’s understandable. Having a financial target can provide motivation and direction.
But something often changes over time.

As clients learn and embrace our evidence-based investment philosophy, gain confidence in their financial plan, and begin taking the long view, their goals frequently evolve beyond simply reaching a number.

Why?

Because they increasingly believe they can achieve their financial goals if they remain disciplined and stay the course. The constant worry begins to fade. The daily noise matters less. Confidence gradually replaces uncertainty.

And when that happens, something powerful occurs.

People begin thinking less about accumulating wealth and more about what that wealth can make possible.

They think about experiences.

They think about family.

They think about legacy.

They think about causes they care about.

They think about opportunities they never allowed themselves to consider before.

Ironically, many people discover that once they stop obsessing over a number, they begin focusing on the people, experiences, and opportunities that number was meant to support in the first place.

It’s a little like climbing a mountain with an experienced guide. Instead of worrying about every step, every turn, and every obstacle along the path, you’re able to lift your eyes and appreciate the view.

How does that perspective make you feel?

Not just about hearing about a trillionaire, but about your own future.

If you’re already a client, you may recognize this shift. The conversation gradually moves from “How much is enough?” to “What do I want to do with the life I’ve built?”

That’s an exciting transition.

It’s future-oriented.

And in many ways, that’s when financial success becomes less about what you’ve accumulated and more about the life, relationships, and opportunities it makes possible.

If you’re not yet a client, we’d welcome the opportunity to help you explore what financial peace of mind might look like for you and your family. Whether through our monthly newsletter, a copy of Odds On, or a simple conversation, we’re here whenever you’re ready.

One of our outstanding 2026 Summer Interns, Sebastian Peritore, collaborated with Nell Schiffer to write this article. 

A recent piece in the WSJ makes the case that investors’ priorities can be misaligned when picking which investment funds to place their money in. Captivated by chasing returns, investors often lose sight of the most consequential factors.

When choosing an investment fund, most investors focus on returns.

That’s understandable. Performance numbers are easy to find, easy to compare, and often dominate marketing materials.

But by focusing too heavily on returns, investors can overlook a factor that may have an even greater impact on long-term wealth: taxes.

Avoiding a Common Mistake

Not all investment funds are created equal.

Decades of research show that investors who try to pick winning stocks or time the market face long odds. While some managers outperform for short periods, taxes and fees often erode those gains over time.

As a result, many investors have embraced low-cost index funds that allow them to participate in market returns without relying on forecasts or stock-picking skill.

That’s a meaningful step forward. But choosing an index fund is only part of the equation.

What Many Investors Overlook

Most investors compare funds based on historical returns and expense ratios. Both matter.

What many investors fail to consider is how much of those returns they actually keep after taxes.

Most mutual funds highlight pre-tax performance, while the tax consequences of owning the fund receive far less attention. Yet research cited in a recent Wall Street Journal article suggests that taxes can reduce an investor’s accumulated wealth by nearly one-third over time.

In other words, investors may spend considerable effort searching for a slightly higher return while overlooking a factor that can have a far greater impact on their long-term results.

Keeping More of What You Earn

Successful investing requires more than pursuing returns. It requires keeping as much of those returns as possible.

That’s why we believe investors should evaluate returns, costs, and tax efficiency together rather than in isolation.

At Hill, we look for opportunities to combine evidence-based investing with thoughtful innovation to help clients keep more of what they earn.

One example is the Longview Advantage Fixed Income ETF (NASDAQ: LVIG). LVIG is a fixed-income ETF structured as a fund of funds and designed to reduce some of the tax friction that income distributions can create in taxable accounts.

The Long View

The most successful investors don’t simply focus on what they earn. They focus on what they keep.

Over a lifetime of investing, even small differences can compound into meaningful outcomes. A seemingly minor drag on performance, repeated year after year, can have a significant impact on long-term wealth.

That’s why taxes deserve a seat at the investment table alongside returns and fees.

Investors who avoid overlooking tax implications put themselves in a stronger position to preserve more of their wealth and stay focused on what matters most: taking the long view®.