There’s been no shortage of financial news this year to provoke anxiety — even among seasoned investors.
Inflation is down from its highs but remains above the Fed’s long-term 2% target. Markets have wobbled on fears that new tariffs could disrupt global trade. Local home inventory has risen significantly from last year, with some Colorado counties at post-pandemic highs. Still, prices remain out of reach for many first-time buyers. Meanwhile, student loan borrowers are watching as some recent reforms are rolled back, with paused repayments giving way to renewed collection efforts.
Yet amidst the gloom, a quiet revolution in personal finance has unfolded. Several key developments over the past decade have made it easier, cheaper, and safer for everyday people to plan and build financial stability. I’m not saying it’s an easy time to secure your financial future — but we should recognize the structural changes that can help us get there.
Diversified Investing Has Never Been Cheaper. Thanks to the rise of exchange-traded funds (ETFs) and index investing, diversified, low-cost portfolios are more widely accessible than ever. While mutual funds still hold more assets overall, the increased competition from ETFs has pushed fees down across the board.
Today, you can invest in a broadly diversified U.S. stock market fund for just 0.03 percent — $3 per year per $10,000 invested. And because ETFs trade like stocks, they’re widely available across a range of custodians and accounts, often without any trading commissions. This isn’t a niche option anymore — it’s a mainstream improvement that benefits long-term investors of all ages.
Retirement Plans Are Smarter and More Generous. Workplace retirement plans have quietly gotten better over the past decade. Automatic enrollment, escalating contribution features, and stronger employer matches have helped increase total savings rates. In many cases, contributions— including employer contributions — now total close to 15% of pay. That’s a level many advisors recommend in order to build long-term retirement security.
Another positive shift: most plans now default participants into target-date funds or similar age-based portfolios. These funds provide broad diversification and gradually become more conservative as you near retirement — without requiring participants to make complex investment decisions. Even in plans that don’t offer ETFs, low-cost index funds are often available in the menu if you know where to look.
Guaranteed-Issue Health Insurance Is Still in Place. Our healthcare system remains expensive and complicated — but one essential piece of progress has held: guaranteed access to health insurance, regardless of medical history. For many, that’s the safety net that enables you to retire early before Medicare age or to take an entrepreneurial leap.
The ability to buy a policy without health underwriting, combined with sliding-scale subsidies based on income, continues to offer real security to families in transition. It’s a vital option for people who want to retire before Medicare, go out on their own as consultants or business owners, or simply need to bridge coverage between jobs. While premiums can still be high and networks confusing, access to health coverage has improved dramatically compared to the pre-reform system. That’s worth acknowledging.
Cash Finally Pays Again. For the first time in over a decade, savers can earn meaningful real interest on safe, liquid savings. Online banks, Treasury bills, CDs, and money market funds are offering interest rates in the 4–5% range — something we haven’t seen since before the financial crisis. This is especially helpful for retirees and those preparing for large expenses. Keeping some funds in cash no longer feels like a guaranteed loss to inflation. With inflation slowing and rates elevated, even short-term savings can now contribute to a stronger financial foundation.
None of this erases the real financial pressures people are feeling. Housing remains expensive. College costs are daunting. Inflation eats away at budgets. But it’s important to recognize what has improved — and to make sure we’re taking advantage of those changes. The road to financial stability is never easy. But in some very real ways, it’s become a little more navigable.
David Gardner is a certified financial planner and is admitted to practice before the IRS. He recently retired from an independent investment advisory firm and continues to write about financial topics. As financial planning is only possible after knowing the client, the column is not intended to be personal financial or tax advice. Data presented is believed to be accurate at the time of writing.
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