5 Financial Questions People Ask — and What to Consider

Whether planning for retirement, building savings, or managing uncertainty in the markets, many people find themselves asking similar financial questions. Adam Kearns, founder of AK Wealth Management, shares general insights into common concerns he hears from clients. These responses are intended to help individuals think through their options — not provide personal financial advice.

What’s the right way to build a budget that actually works?

Creating a sustainable budget starts with tracking your spending. “It’s not about perfection — it’s about awareness,” Kearns said. Tools and apps can help reveal spending patterns, but consistency is key. “We see the most progress when people adjust their budget over time to reflect real habits instead of aiming for a rigid ideal.”

How much should I save for emergencies?

The typical recommendation is three to six months of living expenses. But that number isn’t universal. “Your emergency fund should reflect your job stability, family needs, and lifestyle,” Kearns said. For example, a household with variable income may benefit from a larger cushion. “What matters most is having funds readily available when the unexpected happens.”

Is it too late to start saving for retirement?

Many people worry they’ve waited too long to begin saving seriously. “This is one of the most common concerns we hear — especially from individuals in their 50s or early 60s,” Kearns said. While getting a head start has advantages, he noted that later-stage planning can still lead to meaningful progress. “We help clients prioritize savings and explore strategies that align with their current situation and goals.”

What’s the difference between a Roth IRA and a Traditional IRA?

Both are retirement savings accounts with tax advantages, but the timing of those advantages differs. Traditional IRA contributions may be tax-deductible, with taxes due upon withdrawal. Roth IRA contributions are made with after-tax dollars, and qualified withdrawals are tax-free. “Choosing between the two often comes down to current income, anticipated future tax rates, and when you plan to use the money,” Kearns said.

What should I do when the market is volatile?

Market fluctuations can spark anxiety, especially for those close to retirement. “Volatility can lead to emotional decisions,” Kearns said. “But having a long-term strategy in place helps people navigate short-term swings.” He recommends focusing on broader goals and risk tolerance rather than reacting to daily headlines. “When clients understand why they’re invested the way they are, it becomes easier to stay the course.”

Taking the Next Step

Financial planning doesn’t have to be overwhelming. Asking thoughtful questions—and seeking guidance when needed—can help you move forward with greater clarity. If you’re looking for a conversation about your own financial goals, Adam Kearns and the team at AK Wealth Management are here to help. Learn more at AKWealth.com, call 412-704-7272, or email adam.kearns@lpl.com.

Disclosure: This article is for informational purposes only and does not constitute investment advice or a recommendation. Past performance is not indicative of future results. Please consult a licensed financial professional for personalized guidance.