The Formynder Field Notes

July 2025

From the field...

June kicked off with high hopes (and high humidity)! It's graduation season and whether you had a graduating senior or not, it's hard not to feel the excitement in the air for what the future holds in this new generation of young adults.

When it comes to the opportunities for graduates, I like options. While going to college is an option, it doesn't have to be THE option. Speaking from personal experience, going to college after a few years of "figuring life out" can make the college experience more focused, just as fun, and maybe even less expensive.

Military: C'mon, this is a military-focused newsletter, so I had to put this on top of the list. Committing a few years to the military provides your young adult with "guided structure." They are out of the house and into their own room, they learn a trade, they earn a paycheck, they have healthcare, and they can earn a paid-for higher education experience! It's just the bump in self-confidence your graduate might need to make a clean break into their independence.
Trade school: you may have heard that trades are often well-paying careers with many fields in high demand. It's true! Mike Rowe even offers scholarships to those who want to explore this path. Check it out! From mechanics to plumbers, HVAC repair to heavy equipment operators, these jobs exist, are needed, and may provide a spark of inspiration as to what your graduate might want to do as they grow up.
Go to work: it really can be that simple. Sometimes our young adults just need some time to work things out and to explore the possibilities around them. I urge parents to help your graduate experience "adulting" when taking this path to the best of their ability, particularly if they are staying in your home. Charge them rent and utilities. Have them pitch in for groceries. Help with the household chores. Help them to "feel" adulting; which is to say having both the freedom and responsibility that comes with it. Forcing your young adult to "pay the bills" provides them with a sense of responsibility and a sense of accomplishment.
Go to College: its still on the list. College is absolutely an option and I really do love higher education. Given the rising costs in going to college however, I recommend having a discussion with your young adult, preferably teen, sooner rather than later about expectation management. What will you cover? What won't you cover? In-state or out-of-state? Stay at home or stay on campus? How does your young adult plan to pay for the degree? And don't be afraid to step in with some considerations when perhaps the consequences of taking $100k in student loans for a music degree, aren't being fully realized by your young adult with limited life experience.

There is no "one size fits all" plan for what comes after high school. Just knowing there are options, however, can help to relieve the pressure for both parents and graduates of being forced down a path neither are comfortable with.

Feel Good Moment

I don't watch a lot of TV, but my wife and I do have a few favorite shows. This month, TWO of them released their new season; Alone (Australia) Season 1 and Clarkson's Farm Season 4. Without fail, both shows put smiles on our faces as we settled in to see the latest shenanigans Jeremy Clarkson was up to this year. What's your recent moment of joy?

Monthly Focus - Insurance

Hey, I never said these were enthralling topics. I'd encourage you to set an annual calendar reminder to check all of your insurance policies, mainly to ensure that you are covered the way you'd like to be covered, i.e. your life changes may warrant insurance changes, but also to ensure you are not paying for coverages you no longer need.

Insurance Field Tips

Like packing an inflatable pillow for the field, here are a few insurance tips to review during the month of July:

✅Auto: Do you have the maximum liability coverage? Are the numbers of cars and drivers correct? Are you still paying for comprehensive coverage on your car that's worth $1,000?

✅Healthcare: I mention healthcare so you don't think I left it off, but we will spend an entire month preparing for healthcare enrollment this Fall.

✅Home: Is your home fully covered for its entire rebuild cost? (Hint, that's not the Zestimate.) Have you made any major home improvements that would increase the rebuild value or reduce your premiums, like adding a fire-resistant roof?

✅Life: Do you still have enough life insurance to cover risk of death, such as paying off the house or providing a stream of income?

✅Disability: Are you in a specialized field of work? Have you factored not being able to work into your financial plan?

✅Long Term Care: do you need it? Have you considered the kind of care you would like if you require months, if not years of continuous healthcare?

✅Umbrella Liability: Has your net worth grown beyond the upper liability limits of your home and auto coverage? (Usually $500,000). If so, you may consider adding additional liability coverage on top of your home and auto with an Umbrella policy.