Younger generations are rethinking retirement — considering more flexibility and well-timed breaks over a traditional model of holding a job until a certain age and then stopping work.

Kelley Long, CPA/PFS, joined the Journal of Accountancy podcast to discuss how modern financial planning is changing. She also explains how health savings accounts can support career flexibility and reduce reliance on employer‑sponsored health insurance later in life.

Long will explore these topics further in June at AICPA ENGAGE, the profession's biggest conference. She is presenting sessions focused on retirement and on health care financial literacy on June 10 in Las Vegas.

What you'll learn from this episode:

• A preview of Kelley Long's ENGAGE sessions and a related JofA article.
• The factors that are leading younger generations to approach retirement differently.
• How "mini‑retirements" can fit into long‑term career and financial planning.
• How Long's trip to South America crystallized her views on timing and retirement.
• The role of social connections in cognitive health.
• Some ways that health savings accounts can support career changes or time off.
• How potentially being overinsured can affect financial planning.

Small CPA firms play a critical role in the accounting profession, and new tools are helping them compete, innovate, and grow. In this episode of the JofA podcast, Stephanie Otero, CPA, the AICPA's vice president–Small Firm Advocate, discusses why small firms matter, how AI and automation are leveling the playing field, and where innovation thrives in smaller practices.

She references real-world examples and previews the PCPS Small Firm Success Series, a free, CPE-eligible webcast series for AICPA members.

The conversation also looks ahead to ENGAGE in Las Vegas and the ways AICPA resources and communities help small firm practitioners realize they do not have to go it alone.

Related resources:

• Private Companies Practice Section firm membership.
• Resources for small firms.
• Transforming Your Business Model resources.
• April 20 PCPS Overview Session.
• Article on small firms' use of AI and automation.

What you'll learn from this episode:

• The importance of small CPA firms to the profession and why Otero is passionate about advocating for such firms.
• How AI and automation can help small firms compete with larger organizations.
• Practical examples of practitioners using technology to build capacity.
• AICPA resources can help small firm leaders connect and grow.

Sarah Ference, CPA, a risk control director at CNA, joins the Journal of Accountancy podcast to discuss recent topics of the JofA's Professional Liability Spotlight column.

The conversation covers lessons learned from claims involving bankrupt clients, the importance of strong and consistent documentation, and the particular risks associated with serving high-net-worth or high-profile clients.

The episode also highlights the April column on writing effective engagement letters for client advisory services.

The articles discussed in the episode:

• January: "Don't Let a Bankrupt Client Bankrupt You."
• February: "Tell a Story With Your Documentation."
• March: "Luxury Liabilities: Serving High-Net-Worth Clients."
• April: "Tips for Writing CAS Engagement Letters."

What you'll learn from this episode:

• The reasons CPA firms can be drawn into litigation when clients face bankruptcy.
• How strong client acceptance and continuance practices can help firms identify and manage higher‑risk engagements before problems arise.
• Why documentation acts as a firm's voice in a professional liability claim — and how gaps or inconsistencies can weaken defense of a claim.
• Why Ference has been told that "celebrities and CPA firms don't mix."
• What makes high‑net‑worth and celebrity clients higher risk and why firms should avoid relaxing standard risk management protocols for them.
• Why for engagement letters related to CAS, Ference said: "The devil is really in the details of that engagement letter."