enRICHed: volume 163
HAPPY NEW YEAR BESTIES!
Sunday January 04, 2026
Volume 163
Happy new year besties!
It’s 2026, can you even believe it? It honestly feels like a made up number but alas, we’re here and we gotta make the most of it right? I know everyone is probably already stressing about going back to work but now is the time to think big about your financial goals for this year! Maybe you’re looking to buy a house, pay off your student loans or finally start investing — I want to know! Let me know in the comments what your financial goals are for 2026!
Viv’s New Year’s Resolutions Tips 🎉🎊
It’s that time of year that everyone begins to make those big promises to themselves: to get in better shape, to spend more time with loved ones, to live better and brighter lives. I myself have a lot of New Year’s resolutions for 2026 — including trying something new every month, spending more time with my girlfriends, and getting to the airport before my plane is, um, boarding (this one is for the well-being of my team). But how can we make them stick? Building health is exactly like building wealth, so here are my tips:
Break big goals down into smaller milestones. You can’t become a gazillionaire overnight, and you can’t transform your entire routine in a day. So create a road map for yourself with attainable, reasonable goals that build toward your bigger vision. Flesh out “becoming a gazillionaire” into steps like paying down debt, maxing out your retirement fund, and setting a quarterly check-in with your manager to make sure you’re on track for a raise; flesh out “getting into shape” into smaller goals like, eating vegetables or fruits with every meal, meeting a friend every weekend for a long walk, or joining the local rec league.
Keep yourself accountable…and supported. Trying to make a new habit stick without tracking it is like trying to budget without checking your bank account. You have to hold yourself accountable to ensure you’re really on track! Let’s say you want to get more sleep this year. How will you check that you’re committed to it? Set a bedtime every night, and get up when you say you will. But give yourself some support, too! Set up reasons to get out of bed (a nonrefundable workout class, a meeting, even leaving your phone all the way across the room so you’re forced to get out of your warm bed to shut off your alarm). Just like setting a spending cap on your credit card or auto-filing some of your paystub into savings before it reaches your checking account, give yourself some training wheels to make sure you’re moving in the direction you want.
HYCU; My most important tip, of course, is that you should have fun with it. No one keeps a habit that they don’t want to do. Like, anyone who’s not committed to building wealth will just keep on spending their entire paycheck willy-nilly, the same way that anyone who signs up for therapy is really serious about their mental health. Whether it’s a job search or learning to cook healthy meals, these new tasks should be fulfilling to your life, and an exciting new journey that you’re embarking on. Sure, there are always days when you feel low-energy and blah about it all, but having a clear vision of the life you want to have is exactly what will help you push through rough patches. Let me know what your 2026 resolutions are in the comments, besties, and we’ll check in at the end of the year. And I’ll let you know how many times I showed up before my flight boarding call hehe.
Social Security Updates 🗞️🚨
In money news, the 2026 cost-of-living adjustment for Social Security benefits and Supplemental Security Income (SSI) payments is officially here, and this year, retirees as well as high income earners will be affected.
For people who are eligible to collect Social Security, you will see a 2.8% boost to your income in 2026, up 0.2% from last year. It’s a small bump, which is good, but keep in mind that healthcare is about to get more expensive as well. In November, the government announced that the standard monthly premium for Medicare Part B will increase 9.7% to $202.90 in January, so that’s definitely something to remember when planning out your expenses.
Keep in mind, you can still work and collect Social Security benefits, but this COLA announcement also increased the amount of income that people can earn before benefits are withheld. You can start receiving Social Security as early as 62 and in 2026, you can earn up to $24,480 without having any of these benefits withheld. For earnings beyond this amount, $1 in benefits will be deducted for every $2 earned. This earnings limit increased from $23,400 in 2025.
Meanwhile, people who will reach full retirement age in 2026 (which is a few months before you turn 67) can earn up to $65,160 in earnings before benefits are withheld. Beyond that amount, $1 in benefits will be deducted for every $3 earned.
HYCU; For everyone that is not retired or collecting Social Security already, the tax rate will be the same for all of us who are paying taxes for Social Security — that’s 7.65% for employees and 15.3% for all self-employed people. But the maximum taxable earnings has increased for the new year (now it’s up to $184,500), so everyone will basically be paying a little bit more. All of this is in effect now, so keep that in mind for your 2026 taxes.
Medicine’s Mounting Market 💊📈
Drug making companies will be raising the prices on over 350 medicines this year, including vaccines against COVID, RSV and shingles and the cancer treatment Ibrance.
Right now, Americans pay the most for prescription medicines — often almost triple compared to other developed nations — and the Trump administration has been pressuring the industry to lower their prices to what patients pay in similarly wealthy nations.
But pharmaceutical companies like Pfizer are saying that they’re raising the prices to keep up with inflation, so we’re basically in a bit of a he-said-they-said situation. It is true that medicine prices used to be a lot worse than they are now, but we’re comparing a bad standard with a bad reality, and anyway, all of this boils down to the fact that anyone who has a regular prescription might begin to see higher bills when they go pick up their refills.
HYCU; While it’s not exactly clear how much insurance companies will cover for individuals, hospitals will at least have to shell out more for their supply of medicines like morphine and hydromorphone. The good news is that there will also be a few price cuts on nine drugs, four of which are for diabetes (Jardiance will be cut by 40%, which is pretty significant). But for anyone who wants to get Nurtec for their migraines or a Paxlovid COVID vaccine — you might have to pay a bit more — of course, pending the inevitable argument with your insurance provider.
RzKw asks, “Hi all! 👋🏼 With fidelity, for an individual brokerage account (non IRA), what is the best combination of index funds for a beginner investor who wants to set and forget it for the next 15-20 years? Thanks! 🫶🏼”
A long term planner in the chat! I like the way you think 😉. Here’s how you can set up a solid investment strategy with Fidelity for your individual brokerage account. Since you’re looking for a set and forget approach for the next 15-20 years, index funds are a fantastic choice! They offer diversification and typically have lower fees, which is perfect for a beginner like you.
Here’s what could matter for your situation:
S&P 500 Index Fund: Consider starting with an S&P 500 index fund, like the Fidelity 500 Index Fund (FXAIX). This fund mirrors the performance of the S&P 500, which represents 500 of the largest U.S. companies. Historically, it has provided solid returns over the long term.
Total Stock Market Index Fund: Another great option is the Fidelity Total Market Index Fund (FSKAX). This fund gives you exposure to the entire U.S. stock market, including small-, mid-, and large-cap stocks. It’s a little more diversified than just the S&P 500.
International Index Fund: To add some global exposure, you might want to include an international index fund like the Fidelity International Index Fund (FSPSX). This will help you tap into markets outside the U.S., balancing your portfolio further.
Bond Fund: If you’re looking to add stability to your portfolio, consider a bond fund like the Fidelity U.S. Bond Index Fund (FXNAX). This can help cushion your investments during market downturns, making your overall strategy less volatile.
Why this combo works: By mixing these funds, you’re spreading your risk across different sectors and regions, which can help smooth out the bumps over the years. Plus, you won’t have to worry about picking individual stocks, which can feel like a gamble.
A little extra tip: Regularly rebalance your portfolio to maintain your desired risk level as your investments grow. This is like making sure your wardrobe still fits each season! 😄
Since you’re thinking long-term, remember to keep an eye on those expense ratios—lower fees mean more of your money stays invested. All investments carry risk, and past performance doesn’t guarantee future results, but this strategy has worked for many beginner investors.
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Rich Tip of the Week: Is 2026 the year you get rich?!
Want the generational wealth tips you never learned in school!? RichBFFBook.com
There’s a huge drama happening in the K-pop world with the girl group NewJeans. I don’t listen to a ton of K-pop, but give me a good legal scandal and I’ll lock in.
Betty Boop is officially public domain. Everybody watch out, some wild merch is about to roll out this year.
This is not a drill — we are mere weeks away from Season 4 of Bridgerton…
SEE YOU IN THE COMMENTS BESTIES
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