Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that Congress has handed extremely anticipated tax laws, making ‘everlasting’ (i.e., with out a scheduled sundown) the decrease particular person tax charges enacted as a part of the 2017 Tax Cuts and Jobs Act (TCJA), growing the property and present tax exemption (which was scheduled to revert to roughly $7.14 million subsequent yr) to $15 million in 2026, and elevating the restrict on the deductibility of State And Native Taxes (SALT) to $40,000 (although this measure is scheduled to revert to the present $10,000 in 2030 and begins to part out for customers with greater than $500,000 of earnings), amongst many different measures. Which is able to finally present better tax planning certainty to advisors and their shoppers for 2025 and past (and keep away from the year-end rush they confronted with the late-December passage of TCJA in 2017).
Additionally in business information this week:
- A current survey of wealth administration agency leaders discovered that whereas respondents have been assured of their skills, many are going through challenges discovering the suitable individuals for his or her groups and creating time to help them
- RIAs are being focused by a phishing assault impersonating an SEC official, highlighting the worth of vigilance and employees coaching within the face of various cybersecurity dangers
From there, we have now a number of articles on retirement planning:
- How population-wide life expectancy statistics can present deceptive estimates relating to selecting a particular consumer’s life expectancy for monetary planning functions
- The cognitive biases that may lead shoppers to underestimate their life expectancy and have an effect on their monetary decision-making
- How monetary advisors can add worth for consumer {couples} by assessing each longevity and mortality danger when creating retirement earnings plans
We even have various articles on apply administration:
- Why taking a proactive method may also help an aspiring successor present a agency founder how they are often an efficient companion in serving to the agency develop into the longer term
- A glance into the vary of financing choices obtainable for advisors trying to purchase an fairness stake of their agency with out making a big, lump-sum cost
- How some founders are turning to “artificial fairness” applications to create incentives to draw and retain expertise with out giving up management over the agency
We wrap up with three closing articles, all about (monetary) independence:
- Whereas many consumers may say they’ve a aim of monetary independence, this idea can imply very various things to totally different people (and might change over time)
- Why pursuing an excessive model of monetary independence might result in a much less gratifying and significant way of life, and the way different approaches can present a way of freedom with out having to make a few of these sacrifices
- The right way to domesticate a way of independence that goes past monetary means and extends to the power to dwell life on one’s personal phrases
Benefit from the ‘gentle’ studying!
