Happy Holidays!

Dear Reader,

Merry Christmas.

Today is Thursday, the 25th. I’m not in the office this morning — I wouldn’t torture my team like that on Christmas Day — but I wanted to record this message ahead of time and make sure it reached you today.

I’m reminded of a story Frank Sinatra once told. He was talking to a young musician who was complaining — saying he hated when fans came up to him, hated being asked for autographs, hated feeling “bothered” in public.

And Sinatra looked at him and said:

“If you think fans are not important… try selling records without them for a while.”

That’s exactly how I feel about you.

You are the reason we show up. You are the reason we work so hard. We’re not just trying to provide research — we are genuinely trying to impress you, serve you, and help you. Everyone on our team takes pride in doing right by our members. We get joy out of helping you succeed.

And if I’m being a little personal here… you also helped me get through a very challenging year.

If there were a theme to 2025 for me, it would have been “trudging the road” — just putting one foot in front of the other, with purpose.

There has been a lot happening in my personal life. One of my closest friends was diagnosed with terminal cancer and given eight months to live. My mother is battling dementia. Life has a way of reminding us that none of us are immune to hard seasons.

But this is life. These are the things we all face, sooner or later. There’s nothing special about my pain versus anyone else’s — we all carry something.

And truthfully… coming in every day, recording these videos, working with my team, thinking about how we can help you — it has helped me more than you probably realize. What once felt like work has become something meaningful. You’ve given me purpose on days I needed it most.

And I truly believe next year we are going to deliver some of the best work we’ve ever done. We have ideas, research, and new tools coming that I think you are really going to love.

So from the bottom of my heart… Merry Christmas. Happy Hanukkah. Whatever you celebrate — I hope today brings you peace, warmth, family, laughter, and rest.

We are grateful for you.

You give us a reason to get out of bed in the morning. We would not be here without you. We know where our bread is buttered — and we take that responsibility seriously.

Our mission remains the same: to put a smile on your face, to earn your trust, and to help you navigate this financial world with all of its incredible opportunities and real challenges.

As you read this, I’ll be with my kids, opening gifts, spending time with my mom, and soaking in the day.

Enjoy this time.

Have a wonderful Christmas.

And I’ll talk to you tomorrow.

“The Buck Stops Here,”