The Gasaway Blog

Staying the Course through Volatile Markets

Fri, 03 Apr 2026 13:00:03 GMT

Turbulent times often lead to turbulent markets. Today, investors face a variety of chaotic swings driven by shifting interest rates, geopolitical conflicts, and global economic transitions. Despite the financial "queasiness" these events can bring, experts consistently offer one piece of advice: stay calm and stay the course.

Maintaining a long-term investment strategy is the best way to weather the storm of a volatile stock market; reacting irrationally or panicking is often the costliest mistake an investor can make.

History Tends to Repeat

When headlines turn daunting, it helps to look at the bigger picture. First, a historical review shows that market fluctuations are entirely normal—a comforting reminder when conditions feel unstable. While market downturns are unsettling, history consistently shows that stocks have recovered and delivered significant long-term gains. For example, even after the volatility of the early 2020s and the 2022 bear market, the S&P 500 saw a total return of over 26% in 2023 and nearly 18% in 2025.(1)

Consider the resilience of the market over the last few decades:

Long-Term Growth: From 1996 to 2025—a 30-year span including the dot-com bubble, the 2008 Financial Crisis, and the 2022 inflation surge—the S&P 500 maintained an average annual total return of 10.4%.(1)
Proven Recovery : Every major market crash of the last century—from the Great Depression to the 2022 bear market—has been followed by a recovery that eventually surpassed previous highs. This "building block" of economic growth (driven by innovation and corporate earnings) remains the backbone of 20-year retirement plans today.(2)
The Post-2008 Example: Despite the 2007 housing crisis triggering the worst recession since the 1930s, the 20-year average return (2006–2025) for the S&P 500 stands at 11%. This demonstrates that even when an investor starts right before a major crash, "staying the course" for two decades results in strong double-digit annual averages.(1)

These events reinforce the importance of focusing on long-term goals rather than short-term fluctuations. Markets move through "bull" and "bear" cycles that require time to play out; trying to "time" these trends is rarely successful.

Don’t Try to "Catch a Falling Knife"

A common mistake during a downturn is to stop saving entirely. Following the 2008 crisis, studies showed that over 25% of investors stopped adding to their retirement accounts.(3) However, those who stayed put often saw substantial gains as the market rebounded.

A popular strategy to maintain momentum when nerves are tested is dollar-cost averaging :

This involves investing a fixed amount on a regular schedule (such as every pay period).
This approach generally results in buying more shares when prices are low and fewer when they are high.
It acts as a stabilizing force, reducing the "system shock" and timing risk associated with lump-sum investing.

Turning Lemons into Lemonade

Downturns are actually an ideal time to consult with a financial professional to review your strategy and rebalance your portfolio. This may involve:

Repositioning: Looking at investments that have lost value to manage risk exposure and prepare for the eventual recovery.
Roth Conversions: A market pullback is an ideal "tax window" to move money from a traditional 401(k) or IRA to a Roth account. Because share prices are temporarily lower, you can convert a larger number of shares for the same tax cost. This allows the eventual market rebound to happen entirely tax-free within the Roth account, providing a "market recovery advantage."(4)

Market downturns are a natural part of the investing lifecycle. By keeping a steady hand and consulting with an advisor, you can weather the current cycle—and the next one.

Sources:

1 “What Is the S&P 500 and Stock Market Average Return? | Fidelity.” Fidelity.com, 6 Mar. 2026, www.fidelity.com/learning-center/trading-investing/sp-500-average-return.

2 “Guide to Stock Market Recoveries.” Capital Group, 19 July 2023, www.capitalgroup.com/advisor/insights/articles/guide-market-recoveries.html.

3 Betterment. “Betterment’s Consumer Financial Perspectives Report: 10 Years After the Crash.” Sept 2018.

4 Raymond James. Roth Conversions during Market Volatility. Raymond James, 2023.

Material discussed is meant to provide general information, is not to be construed as specific investment, tax or legal advice, does not give investment recommendations, and is not an offer or a solicitation to buy or sell securities. The information provided has been compiled from third party sources and is believed to be reliable; however, its accuracy is not guaranteed and should not be relied upon in any way, whatsoever. Any opinion included in this report constitutes our judgment as of the date of this report and are subject to change without notice. The views expressed are those of the author as of the date noted, are subject to change based on market and other various conditions. Keep in mind that current and historical facts may not be indicative of future results. Certain risks exist with any type of investment and should be considered carefully before making any investment decisions. Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website, https://adviserinfo.sec.gov/firm/summary/123807. 

February Market Update

Fri, 20 Mar 2026 20:15:48 GMT

February Recap

The S&P 500 fell -0.8% in February , its first negative month in ten. International equities continued to perform well, while concerns around AI spending and its potential disruption to the software industry led technology stocks lower. ¹

The benchmark 10yr Treasury yield dropped from over 4.2% to below 4%, leading to a 1.6% gain for the US Aggregate Bond Index. ²

Inflation , measured by the Consumer Price Index (CPI), rose 2.4% year-over-year ; April will mark five years above the Federal Reserve’s 2% target (figure 1). The economy lost -92k jobs and the unemployment rate ticked up to 4.4% , further negative news for a labor market that has been weakening since 2022 (figure 1). ³

S&P 500 earnings grew 14% in Q4 2025, the fifth straight quarter of double-digit growth. ⁴

The Supreme Court ruled against President Trump’s tariffs implemented under the International Emergency Economic Powers Act (IEEPA). However, the administration instituted a new blanket tariff under Section 122 of the Trade Act of 1974, which will last 150 days. As a result, the average global tariff rate dropped slightly. ⁵

Current Developments (March)

The ongoing conflict in Iran, the U.S.’s involvement, and the resulting impact on oil prices have introduced significant volatility into markets. Similar to the tariff developments in early 2025, markets are reacting dramatically to the frequent announcements coming from the Trump administration, this time regarding the potential duration of the conflict and the U.S.’s objectives. Oil prices have risen from ~$60 in February to over $100 now as the Strait of Hormuz, where ~20% of the world’s oil consumption passes through daily, remains closed. Among other implications, this increase adds yet another challenge to the Federal Reserve’s goal of 2% inflation. ⁶

In response to these inflation concerns, Treasury yields have moved higher, pushing mortgage rates back above 6% after a brief dip below that level. ⁷

The Future

The conflict in Iran and its evolving headlines will likely remain a key driver of market performance until a more permanent resolution is reached. Historically, markets have reacted positively on average to similar geopolitical events (figure 2).

The Federal Reserve is expected to pause interest rate cuts until September, with Wall Street now expecting only one cut in 2026 . ⁸

Q1 earnings are expected to grow 12%, which would mark the sixth straight quarter of double-digit growth. For full-year 2026, earnings are expected to grow 15%, with all 11 S&P 500 sectors projected to post positive growth. ⁴

Since 1950, March has produced an average return of over 1% for the S&P 500. ⁹

1. https://ycharts.com/indices/%5ESPXTR, https://ycharts.com/indices/%5EDJITR, https://ycharts.com/indices/%5ENACTR, https://ycharts.com/indices/%5ERUTTR, https://ycharts.com/indices/%5EMSEAFETR, https://ycharts.com/indices/%5EBBUSATR – Index Performance

2. https://www.cnbc.com/bonds/ - Bond Yields

3. https://www.investing.com/economic-calendar/ - Economic data

4. https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/Earnings Insight_120525.pdf – Earnings

5. https://taxpolicycenter.org/taxvox/how-supreme-courts-ieepa-ruling-and-new-section-122-tariffs-reshape-costs-across-industries - Tariffs

6. https://tradingeconomics.com/commodity/crude-oil - Oil Prices

7. https://fred.stlouisfed.org/series/MORTGAGE30US - Mortgage rates

8. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html – Investor rate expectations

9. https://www.visualcapitalist.com/charted-average-sp-500-return-by-month-since-1950/– Monthly market history

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

The views expressed are those of the author as of the date noted, are subject to change based on market and other various conditions. This presentation is not an offer or a solicitation to buy or sell securities. The material discussed is meant to provide general education information only and it is not to be construed as specific investment, tax or legal advice and does not give investment recommendations.

Certain risks exist with any type of investment and should be considered carefully before making any investment decisions. Keep in mind that current and historical facts November not be indicative of future results.

Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website, https://adviserinfo.sec.gov/firm/summary/123807 .

What a Financial Spring Reset Really Means: Key Concepts Every Investor Should Know

Fri, 20 Mar 2026 13:00:04 GMT

A financial spring reset is not about following trends or making sudden changes. It involves stepping back, reviewing fundamentals, and considering thoughtful adjustments that align with long-term financial wellness. For investors, this seasonal reset emphasizes clarity, alignment, and discipline rather than short-term performance.

Whether working with a financial advisor in Kalamazoo, MI or managing investments independently, understanding the principles behind a financial spring reset can support more informed financial decision-making throughout the year.

Reconnecting With Your Financial Plan

A financial reset often begins with revisiting a financial plan. This includes reviewing goals, timelines, and assumptions that may have shifted over time. Life events, career or business changes, and evolving priorities can all influence personal financial planning and individual financial planning needs.

Financial planning services and financial planning firms commonly note that plans may benefit from periodic review as circumstances change. This process is less about making immediate changes and more about helping to confirm whether current strategies remain aligned with stated objectives and long-term priorities.

Understanding Risk and Portfolio Alignment

Risk is a central concept for investors to consider during a financial reset. This may include reviewing risk tolerance and evaluating how it aligns with current investments. A thoughtful financial risk assessment can help identify whether a portfolio remains consistent with an investor’s time horizon, comfort level, and financial goals.

Investment management and investment advisory firms often focus on diversification, asset allocation, and consistency rather than attempting to anticipate market movements. Reviewing investment models as part of a spring reset can help assess whether risk exposure continues to align with financial goals.

Separating Short-Term Noise from Long-Term Strategy

Markets are influenced by headlines, economic data, and investor sentiment. A financial spring reset encourages a renewed focus on long-term strategy rather than short-term reactions. Investment advice and guidance from investment advisors frequently emphasize maintaining discipline during periods of market volatility.

This approach is commonly reflected in wealth management services and fiduciary services, where decisions are guided by established goals, planning frameworks, and long-term intent rather than short-term performance outcomes.

Reviewing Retirement and Income Planning

For many investors, retirement planning is an important element of a financial spring reset. This may include reviewing retirement plan investments, retirement income planning considerations, or evaluating employer-sponsored retirement plans.

Business owners may also revisit retirement plans for small businesses as part of broader financial planning for businesses. These reviews can help assess whether savings approaches, investment strategies, and income assumptions remain appropriate based on current information.

Evaluating Protection and Estate Planning Considerations

A comprehensive reset may also involve reviewing protection strategies. Life insurance services, disability planning, and beneficiary designations all play an important role in maintaining a well-coordinated financial strategy.

These elements often connect with estate planning services and discussions with an estate planner. Regular reviews can help ensure documents and strategies reflect current wishes and personal circumstances.

A Reset Focused on Progress, Not Perfection

A financial spring reset is not about starting over. It involves making informed adjustments, reaffirming priorities, and reinforcing habits that support long-term financial decision-making. Working with a financial consultant, financial planner, or investment manager may provide additional structure during this process.

By emphasizing fundamentals such as planning, risk awareness, and long-term discipline, investors and business owners can approach a financial spring reset with greater clarity and intentionality throughout the year.

Spring Into Action with Better Money Habits

Fri, 06 Mar 2026 14:00:03 GMT

Spring is a season of renewal and a natural time to revisit financial routines. Just like spring cleaning at home, reviewing money habits can provide clarity, focus, and a renewed sense of direction. Developing better money habits does not require major changes. Small, intentional steps can contribute to long-term financial wellness and help keep financial decisions aligned with personal and business priorities.

For many individuals and business owners, this type of seasonal reset is an important part of thoughtful financial planning.

Start With Awareness

One foundational step in financial planning is understanding current spending, savings, and recurring expenses. Reviewing these areas can support personal financial planning and individual financial planning by creating a clearer picture of where money is going and how financial choices are being made.

Increased awareness may lead to more informed and confident decision-making without emphasizing perfection or rigid rules. The goal is clarity, not judgement.

For business owners, financial planning for businesses often includes evaluating cash flow, ongoing obligations, and short-term liquidity needs. Business plan consulting and commercial financial services frequently highlight the value of this type of financial review as a starting point for financial organization and long-term planning.

Refresh Goals and Build Consistency

Spring is also a practical time to revisit financial goals and adjust as life and business circumstances evolve. This may involve reviewing a financial plan, updating retirement planning service considerations, or reassessing retirement plan investments. Business owners may also review retirement plans for small businesses as part of this process.

Automating savings and investment contributions can help support consistency and reduce the influence of short-term emotions on financial decisions. This approach is commonly discussed within investment management, investment advice, and investment models designed to support steady progress over time.

Review Risk and Protection Strategies

Risk management is an important component of long-term financial wellness. A periodic financial risk assessment can help identify areas that may benefit from further attention or adjustment. Risk management services often include reviewing protection strategies alongside broader financial planning conversations.

This review may involve life insurance services, disability planning, or confirming beneficiary designations are current. These topics often connect with estate planning services and conversations with an estate planner, helping ensure plans remain aligned with current goals and personal circumstances.

Fiduciary services frequently encourage periodic reviews to help keep plans aligned with current goals and personal circumstances.

Maintain a Long-Term Perspective

Market conditions and economic news can change frequently, but long-term planning often emphasizes discipline and consistency. Working with a financial advisor, financial planner, or financial consultant may help individuals and business owners remain focused on longer-term objectives rather than short-term market movements.

Spring offers a timely opportunity to reinforce habits that support financial organization and preparedness throughout the year. Incremental steps taken consistently over time can contribute to financial clarity, confidence, and long-term stability. This can help support both personal goals and business planning efforts over time.

January Market Update

Tue, 24 Feb 2026 19:39:29 GMT

January Recap

he S&P 500 rose 1.5% in January, starting 2026 with its ninth straight positive month. All major indices finished higher, led by small cap stocks, which have lagged over the past few years. Continued weakening in the U.S. dollar helped lead international stocks higher.1

The benchmark 10yr Treasury yield finally broke above 4.2% following President Trump’s announcement of potential tariffs on specific European countries, though it has now fallen back below 4.2% as the tariffs were walked back.2

Inflation, measured by the Consumer Price Index (CPI), rose 2.4% year-over-year and is nearing its fifth consecutive year above the Federal Reserve’s 2% target (figure 1). The economy added 130k jobs and the unemployment rate fell to 4.3%, both encouraging numbers after jobs grew at the slowest pace since 2003 in 2025 (not including recession years).3

Current Developments (February)

Q4 earnings season is underway, with expectations for 13% earnings growth, well above the 8% initially expected. This would mark the 5th consecutive quarter of double-digit earnings growth for the S&P 500.4

Large Growth and Technology stocks, which dominated performance in recent years, have continued January’s trend of underperformance versus international, small cap, and value stocks (figure 2). Earnings estimates for these other sectors have improved while the AI hype that helped drive technology stocks to elevated valuations is giving way to concerns around profitability and return on investment.1

Mortgage rates remain near their lowest level in 3 years of 6.1% after several interest rate cuts.5

The United States ended 2025 with an average tariff rate of roughly 17%, the highest level since the 1930’s (figure 3). This includes average rates of 10-15% on key trading partners like Mexico, Canada, Japan, and much of the EU, while China and India’s rates sit over 30%. Recently, President Trump has decreased tariffs on certain key countries (like India) and goods (like steel and aluminum).6

The Future

After three delays, the Supreme Court still has yet to rule on whether President Trump’s tariffs, enacted under the International Emergency Economic Powers Act (IEEPA), are lawful. If the Court rules against the Trump administration, the administration will likely attempt alternative methods to reinstate them, though existing tariff revenue may have to be refunded somehow.7

The Federal Reserve is expected to pause interest rate cuts until July, with Wall Street predicting a total of two cuts in 2026.8 Fed Chair Jerome Powell’s term ends in May 2026, and President Trump has nominated Kevin Warsh as his replacement, pending Senate confirmation. While Warsh has historically held hawkish views on monetary policy, he has recently advocated for lower rates.9

In 2026, earnings are expected to grow 14%, with all 11 S&P 500 sectors projected to post positive growth.4

Q4 GDP is expected to grow at over 3.5%.10

Since 1950, February has been a negative month on average and the second worst overall for the S&P 500.11

1. https://ycharts.com/indices/%5ESPXTR , https://ycharts.com/indices/%5EDJITR , https://ycharts.com/indices/%5ENACTR , https://ycharts.com/indices/%5ERUTTR , https://ycharts.com/indices/%5EMSEAFETR , https://ycharts.com/indices/%5EBBUSATR – Index Performance

2. https://www.cnbc.com/bonds/ - Bond Yields

3. https://www.investing.com/economic-calendar/ - Economic data

4. https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/Earnings Insight_120525.pdf – Earnings

5. https://fred.stlouisfed.org/series/MORTGAGE30US - Mortgage rates

6. https://www.atlanticcouncil.org/programs/geoeconomics-center/trump-tariff-tracker/ - Tariff rates

7. https://www.crfb.org/blogs/tariff-revenue-soars-fy-2025-amid-legal-uncertainty - Tariff legality

8. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html – Investor rate expectations

9. https://global.morningstar.com/en-nd/economy/what-kevin-warsh-fed-chair-could-mean-interest-rates - Kevin Warsh

10. https://www.atlantafed.org/research-and-data/data/gdpnow – GDP estimate

11. https://www.visualcapitalist.com/charted-average-sp-500-return-by-month-since-1950/ – Monthly market history

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

Planning for Major Life Events: How Proactive Financial Steps Help Protect Your Priorities

Fri, 20 Feb 2026 13:00:01 GMT

Major life events often arise faster than expected. Starting a career, buying your first home, getting married, launching a business, or growing a family all bring new financial responsibilities. Taking proactive financial planning steps early can help protect what matters most and creates confidence as life evolves.

Create a Strong Financial Starting Point

A clear financial plan helps turn short-term goals into long-term progress. Working with a financial advisor can support personal financial planning focused on cash flow, savings, and debt management while keeping future goals in sight.

As income and responsibilities grow, individual financial planning helps keep decisions intentional and aligned with your priorities.

Prepare for Career Changes and Business Growth

Career shifts and entrepreneurial opportunities may bring income variability and added risk. Financial planning for businesses and business plan consulting can help address cash flow needs, commercial financial services, and financial risk assessment.

Risk management services provide additional support as financial decisions become more layered and interconnected.

Protect Income and Future Goals

As priorities expand, protecting income becomes essential. Disability planning and life insurance services can help reduce the financial impact of unexpected events.

Estate planning services, even early in adulthood, can help clarify beneficiary designations and decision-making authority as part of a broader financial planning strategy.

Begin Investing with a Long-Term View

Starting early allows time to work in your favor. Investment advisors and investment managers can help design investment models aligned with long-term goals and individual risk tolerance.

Investment management and wealth management services may also support retirement planning, including retirement plan investments and retirement plans for small businesses.

Review and Adjust as Life Evolves

Financial planning isn’t static. Regular reviews with a financial consultant firm in Kalamazoo, MI help your strategy continue to reflect changing income and life priorities.

Estate Planning Basics: Steps to Protect the People and Causes You Care About

Fri, 06 Feb 2026 13:00:02 GMT

Estate planning is about more than documents; it’s about clarity, protection, and confidence. Whether you’re working with an estate planner in Kalamazoo, MI or just beginning to think through your broader financial plan, having a thoughtful estate strategy helps your wishes to be carried out and can provide meaningful support for your loved ones.

Start With the Essentials

A solid estate plan typically includes a will, beneficiary designations, and powers of attorney. Together, these help guide how assets are distributed and who can make decisions if you’re unable to do so yourself.

For many individuals and families, estate planning services are part of a larger personal financial plan, designed to bring structure and confidence to life’s “what ifs”.

Align Estate Planning with Your Financial Strategy

Estate planning is most effective when it works together with your overall financial plan. A financial advisor can help coordinate estate considerations with investment management, life insurance services, and retirement income planning.

This integrated approach helps your plan support long-term goals, adapt to change, and remain aligned with what matters most to you without guaranteeing outcomes.

Plan for Taxes, Risk, and Transitions

Thoughtful estate planning also takes potential risks, taxes, and transitions into account. Financial risk assessment and risk management services can help address concerns like longevity, market volatility, and rising healthcare costs.

For business owners, financial planning for businesses may include business plan consulting and succession planning to help continuity. Retirement plans for small businesses and retirement plan investments may also play an important role in supporting both personal and professional goals.

Consider Professional Fiduciary and Investment Support

Some families choose to work with fiduciary services or an investment advisory firm for ongoing guidance and oversight. Investment advisors and investment managers may use diversified investment models as part of an overall wealth management services strategy.

For qualified retirement plans, a 3(38)-investment manager may be appropriate, allowing discretionary investment responsibilities to be handled by a professional fiduciary.

Review and Update Regularly

Life changes and it is important your estate plan changes with it. Marriage, children, career shifts, or changes in health can all create the need for updates.

Periodic reviews with a financial planner or financial planning firm in Kalamazoo, MI help keep your estate planning services aligned with your goals and continue to support the future you are working toward.

December Market Update

Thu, 22 Jan 2026 19:48:28 GMT

December Recap

The S&P 500 rose 0.1% in December, capping 2025 with its eighth straight positive month. ¹ All major stock and bond indices ended the year with above-average gains, driven primarily by strong earnings and falling interest rates. International stocks outperformed U.S. stocks by a margin not seen in nearly two decades, helped by a weak U.S. dollar and increased fiscal stimulus abroad. Gold and silver ended the year with historic gains of ~65% and ~145%, respectively, as high inflation and policy uncertainty continue. ²

The benchmark 10yr Treasury yield remained rangebound between 4.1% and 4.2% as investors continued to price in higher inflation and economic growth in the future. ³

Inflation, measured by the Consumer Price Index (CPI), rose 2.7% year-over-year and has now remained above the Federal Reserve’s 2% target for more than 4.5 years. The economy added 50k jobs, continuing the trend of slowing job growth and declining job openings. The unemployment rate fell slightly to 4.4%, but remains in an uptrend since the lows of 2022 (figure 1). ⁴

Current Developments (January)

Q4 earnings season begins in mid-January, with expectations for 8% earnings growth. ⁵

Small-cap and Value stocks have outperformed so far in 2026, a trend we believe could continue throughout the year as earnings growth broadens from the Tech and AI names and lower interest rates work their way through the economy. ¹

Mortgage rates remain near their lowest level in 3 years of 6.1% after several interest rate cuts (figure 2). ⁶ President Trump ordered the purchase of $200 billion in mortgage-backed securities in an effort to push mortgage rates lower. ⁷

Ongoing tariffs: A baseline 10% tariff and higher tariff rates on key trading partners like Canada (35%), Mexico (25%), India (50%), and Brazil (50%) remain in effect, while deals including 15% tariffs on most goods have been struck with Japan, South Korea, and the EU. ⁸

The Future

The Supreme Court is expected to rule in January on whether President Trump’s tariffs, enacted under the International Emergency Economic Powers Act (IEEPA), are lawful . If the Court rules against the Trump administration, the administration will likely attempt alternative methods to reinstate them, though existing tariff revenue may have to be refunded somehow. ⁹

The Federal Reserve is expected to pause interest rate cuts for several months, with Wall Street predicting two further cuts for 2026 . Fed Chair Jerome Powell’s term ends in May 2026, and President Trump has indicated that he has a potential replacement in mind. ¹⁰

In 2026, earnings are expected to grow 15%, with all 11 S&P 500 sectors projected to post positive growth. ⁵

Since 1950, January has been a solid month for stocks, with an average gain of just over 1%. ¹¹

1. https://ycharts.com/indices/%5ESPXTR , https://ycharts.com/indices/%5EDJITR , https://ycharts.com/indices/%5ENACTR , https://ycharts.com/indices/%5ERUTTR , https://ycharts.com/indices/%5EMSEAFETR , https://ycharts.com/indices/%5EBBUSATR – Index Performance

2. https://www.cnbc.com/bonds/ - Bond Yields

3. https://www.investing.com/economic-calendar/ - Economic data

4. https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/Earnings Insight_120525.pdf – Earnings

5. https://fred.stlouisfed.org/series/MORTGAGE30US - Mortgage rates

6. https://www.atlanticcouncil.org/programs/geoeconomics-center/trump-tariff-tracker/ - Tariff rates

7. https://www.crfb.org/blogs/tariff-revenue-soars-fy-2025-amid-legal-uncertainty - Tariff legality

8. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html – Investor rate expectations

9. https://www.visualcapitalist.com/charted-average-sp-500-return-by-month-since-1950/ – Monthly market history

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

Life Goals & Financial Planning: Connecting What Matters to Your Money

Fri, 16 Jan 2026 05:00:06 GMT

Life goals change over time. Careers grow, families evolve, businesses expand, and priorities shift. For individuals and business owners, financial planning can help bring structure and clarity to these changes.

Financial planning isn’t about predicting the future. It’s about making informed decisions today that support what matters most to you tomorrow.

Start With Your Life Goals, Not Just the Numbers

A strong financial plan starts with understanding your goals. These may include:

Supporting your family’s lifestyle and future needs
Preparing for a comfortable retirement
Growing or protecting a business
Planning for major life transitions
Creating a legacy through thoughtful estate planning

Whether you’re focused on personal financial planning or financial planning for businesses in Kalamazoo, MI, aligning your money decisions with life goals could provide clarity, direction and purpose.

Many individuals and business owners choose to work with a financial planner or financial advisor in Kalamazoo, MI to help organize goals into a realistic, actionable financial plan that balances today’s priorities with tomorrow’s ambitions.

Building a Financial Plan That Adapts With You

Life doesn’t stand still, and neither should your financial planning. A well-designed financial plan is meant to evolve as your circumstances, priorities and goals change.

Key areas to review regularly could include:

Income and savings strategies
Investment management approaches and investment models
Risk management services and financial risk assessment
Retirement planning service needs and timelines

Regular reviews with a financial planning firm or financial consultant in Kalamazoo, MI can help ensure your plan stays aligned with both short-term priorities and long-term goals.

Managing Risk Along the Way

Pursuing life goals often comes with some level of risk. Understanding and managing that risk is a central part of effective financial planning. Risk management services may include:

Life insurance services in Kalamazoo, MI
Disability planning to help protect income
Evaluating investment risk within your overall financial strategy

Financial planning isn’t about eliminating risk entirely; it’s about balancing risk in a way that fits your comfort level and supports goals. A risk manager or fiduciary services provider can help explain options clearly, so decisions feel practical and manageable.

Planning for Retirement With Purpose

Retirement planning isn’t just about a date on the calendar, but also about supporting the lifestyle you want. Retirement income planning often ties directly to broader life goals like travel, flexibility, or quality time with family.

Considerations may include:

Reviewing retirement plans and retirement plan investments
Coordinating personal savings with workplace plans
Exploring retirement plans for small businesses

Business owners may also benefit from working with a 3(38) investment manager in Kalamazoo, MI to support retirement plan oversight and investment decision-making.

Estate Planning and Long-Term Considerations

As life goals become more complex, estate planning often becomes a priority. Estate planning services help organize and clarify how assets may be managed or distributed in the future.

This may involve working with:

An estate planner in Kalamazoo, MI
Fiduciary services providers
Professionals coordinating wealth management services

Estate planning isn’t just about wealth, but also clarity, organization, and making sure your intentions are documented.

Financial Planning for Business Owners

For business owners, personal and professional goals are often closely connected.

Financial planning for businesses in Kalamazoo, MI may include:

Business plan consulting
Commercial financial services
Aligning business cash flow with personal financial goals

A coordinated approach can help business owners balance growth opportunities with longterm personal planning.

Choosing the Right Guidance

As financial responsibilities grow, many individuals and business owners turn to professional support to help navigate decisions with confidence. A financial planning firm or investment advisory firm in Kalamazoo, MI may offer services such as:

Investment advice and investment management
Support from a Financial advisor or financial planner
Individual financial planning and wealth management services

The emphasis is on education and informed decision-making. It’s not a one-size-fits-all solutions.

Bringing It All Together

Life goals give your financial journey direction. Financial planning provides the structure to help you reach them. Together, they can help individuals and business owners feel more prepared and confident about what lies ahead.

Whether you’re exploring personal financial planning, retirement planning service options, or commercial financial services in Kalamazoo, MI, aligning financial decisions with life goals can support clarity and confidence over time.

New Year, New Financial Habits: Simple Steps Toward a More Confident Financial Plan

Mon, 05 Jan 2026 05:00:21 GMT

A new year naturally brings reflection and fresh starts. For many individuals and business owners, it’s also a great time to take another look at financial habits and make a few intentional adjustments. The good news? Building momentum doesn’t require complicated strategies or confusing financial jargon. Small, consistent changes can support long-term financial goals.

Below are practical, easy-to-understand financial habits to consider as you begin the year, whether you’re focused on personal priorities, your family’s future, or financial planning for businesses in Kalamazoo, MI.

1. Revisit Your Financial Plan (or Create One)

If you already have a financial plan, the start of the year is a great time to revisit it. Life changes fast. Career growth, family needs, business expansion, or shifting timelines can all impact how your plan should look today to reach your end goals.

If you don’t have a formal plan in place, this may be the year to start. A well-structured financial plan helps organize income, savings, investments, and protection strategies in one place. Many people work with a financial planning firm in Kalamazoo, MI to help create a plan that reflects both short-term priorities and long-term goals.

This step applies to both individual financial planning and financial planning for businesses, especially for owners balancing personal finances alongside business decisions.

2. Build the Habit of Regular Financial Check-Ins

One of the most effective financial habits is simply paying attention. Instead of setting goals once a year and hoping for the best, build in regular financial check-ins. These could be quarterly or semiannual reviews that help you stay aligned and make adjustments as needed.

These check-ins can help you:

Track progress toward retirement planning goals
Review retirement plan investments or retirement plans for small businesses
Adjust savings targets or address cash flow needs
Revisit risk management services and insurance coverage

Consistent financial check-ins support better decision-making, keep plans on track, and help reduce surprises later on.

3. Understand Risk—Without the Stress

Risk is part of every financial decision, but it doesn’t have to feel overwhelming. Building a basic understanding of your financial risk assessment can help you make more confident, informed choices without unnecessary stress.

This often includes reviewing:

Investment management strategies and investment models
Life insurance services and disability planning in Kalamazoo, MI
Risk management services for both individuals and business owners

Working with a financial consultant or financial advisor in Kalamazoo, MI can help clarify how different risks may impact your overall financial picture, so you can move forward with clarity instead of uncertainty.

4. Don’t Overlook Protection and Planning Beyond Investments

Building strong financial habits isn’t just about investing. Protection and long-term planning play a major role in overall financial stability and peace of mind.

It's worth taking time to review:

Estate planning services and support from an estate planner in Kalamazoo, MI
Beneficiary designations
Life insurance services and disability planning options

For many families, estate planning helps provide clarity and continuity across generations. For business owners, it often ties into succession planning and long-term business goals. These areas are often coordinated with fiduciary services and a broader wealth management services strategy to ensure everything works together.

5. Align Retirement Goals With Today’s Decisions

Retirement planning conversations aren’t just for those nearing retirement. For individuals in their 20s, 30s, 40s, and 50s, the habits and decisions you make today can play a meaningful role in shaping future retirement income planning.

This may include:

Reviewing retirement plan options
Evaluating retirement plan investments align with your goals
Coordinating personal financial planning with business-sponsored retirement plans

Business owners may also benefit from guidance around retirement plans for small businesses and working with a 3(38) investment manager in Kalamazoo, MI, where appropriate. The goal is alignment and making sure today’s choices support the lifestyle you want later.

6. Choose Guidance That Matches Your Needs

As financial responsibilities grow, many individuals and businesses find value in professional guidance. Working with a financial planning firm or investment advisory firm in Kalamazoo, MI can provide education and guidance tailored to your specific goals and circumstances.

Depending on your needs, this guidance may include:

Support from a financial advisor or financial planner
Investment advisors and investment management services
Fiduciary services focused on acting in the client’s best interest
Business plan consulting in Kalamazoo, MI

The goal is not complexity, but clarity. The right guidance helps you understand your options, feel more confident in your decisions, and move forward with purpose.

A Thoughtful Start to the Year

Building new financial habits doesn’t mean making dramatic changes. By focusing on awareness, consistency, and alignment with your goals, you can take meaningful steps toward a stronger financial foundation.

Whether you’re reviewing a personal financial plan, exploring commercial financial services in Kalamazoo, MI, or considering long-term wealth management services, the new year is an opportunity to reset and refocus.

November Market Update

Wed, 17 Dec 2025 17:57:44 GMT

Market Indices Performance

November Recap

The S&P 500 rose 0.3% in November , hitting new all-time highs and extending its winning streak to seven straight months. ¹ Most indices posted similarly modest gains, but the tech-heavy Nasdaq declined after seven straight positive months. The benchmark 10yr Treasury yield ended November nearly unchanged around 4.1% again, though it briefly dipped below 4% later in the month. ²

Due to the government shutdown, which ended November 12 after a record 43 days, October and November’s inflation and labor market data have been delayed until December 16. The latest readings, based on September data, showed CPI inflation at 3.0% and the unemployment rate at 4.4%, continuing the worrying trend of inflation and unemployment rising simultaneously (figure 1). ³

Current Developments (December)

Q3 earnings season is wrapping up; earnings growth of 13% has far exceeded initial expectations of 7%, helping propel stocks to new all-time highs. ⁴

Mortgage rates are at their lowest level in 3 years at 6.1% after several interest rate cuts (figure 2). ⁵

The Future

The Supreme Court is expected to rule before the end of the year on whether President Trump’s tariffs, enacted under the International Emergency Economic Powers Act (IEEPA), are lawful. If not, the Trump administration will likely attempt alternative methods to reinstate them, though existing tariff revenue may have to be refunded. ⁷

Wall Street is still predicting another interest rate cut on December 10 , which would bring the federal funds rate to a range of 3.50%-3.75%. Fed Chair Jerome Powell’s term ends in May 2026, and President Trump has indicated that he has a potential replacement in mind. ⁸

In 2026, earnings growth is expected to remain in double digits, with all 11 S&P 500 sectors projected to post gains. ⁴

Since 1950, December has been the second-best performing month of the year for stocks, often thanks to a ‘Santa Claus rally’ near the end of the month. ⁹

1. https://ycharts.com/indices/%5ESPXTR , https://ycharts.com/indices/%5EDJITR , https://ycharts.com/indices/%5ENACTR , https://ycharts.com/indices/%5ERUTTR , https://ycharts.com/indices/%5EMSEAFETR , https://ycharts.com/indices/%5EBBUSATR – Index Performance

2. https://www.cnbc.com/bonds/ - Bond Yields

3. https://www.investing.com/economic-calendar/ - Economic data

4. https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/Earnings Insight_120525.pdf – Earnings

5. https://fred.stlouisfed.org/series/MORTGAGE30US - Mortgage rates

6. https://www.atlanticcouncil.org/programs/geoeconomics-center/trump-tariff-tracker/ - Tariff rates

7. https://www.crfb.org/blogs/tariff-revenue-soars-fy-2025-amid-legal-uncertainty - Tariff legality

8. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html – Investor rate expectations

9. https://www.visualcapitalist.com/charted-average-sp-500-return-by-month-since-1950/ – Monthly market history

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

What Is a Power of Attorney?

Fri, 21 Nov 2025 21:31:05 GMT

A Power of Attorney is a legal document that grants authority to a chosen individual. Often referred to as an agent who is able to act on someone’s behalf. The scope of this authority depends on the type of POA established and the instructions included within the document. Responsibilities may include managing certain financial accounts, paying bills, handling administrative tasks, or making specific medical or legal decisions.

Common types of POAs include:

Financial Power of Attorney: Allows an agent to help with financial or administrative responsibilities.
Healthcare Power of Attorney: Allows an agent to participate in healthcare-related decisions if the individual is unable to do so.
Durable Power of Attorney: Remains in effect if the individual becomes incapacitated, unless stated otherwise.
Limited or Temporary Power of Attorney: Provides authority for a specific task or timeframe.

Because POA requirements differ by state, it can be helpful to review local regulations and consult a qualified legal professional when creating one.

Why a Power of Attorney Matters in an Estate Plan

1. It helps maintain continuity if decision-making becomes difficult

Life events can occur that make it challenging for someone to manage their financial or personal responsibilities. A POA outlines who is able to assist, which may help reduce delays or confusion.

2. It may help simplify processes for loved ones

Without a POA, family members may need to pursue a court process to obtain the authority needed to manage important matters. Having one in place can help reduce administrative steps during already stressful situations.

3. It supports the structure of an overall estate plan

A POA works alongside other documents—such as a will, healthcare directives, and beneficiary designations—to help reflect an individual’s preferences and outline who can assist in various scenarios.

4. It provides clarity and helps reduce uncertainty

Formally naming an agent can help family members understand who should take on certain responsibilities. This may reduce confusion or potential disagreements during sensitive situations.

Why It’s Important to Have a Financial Advisor Create Diversification in Your Investment Accounts

Mon, 17 Nov 2025 17:19:49 GMT

Diversification is a core concept in investment management. It involves spreading assets across a variety of investment types, industries, and geographic regions to help manage exposure to market fluctuations. While the idea sounds straightforward, building and maintaining appropriate diversification requires experience, analysis, and ongoing attention. This is one area where a financial advisor can provide professional guidance.

1. Managing Risk Through Balance

Diversification can help reduce the impact that any single investment or market sector may have on your overall portfolio, like AI. When one portion of the market experiences a downturn, other segments may perform differently. Financial advisors use research and data to help identify an allocation that seeks to balance potential risks and returns based on your investment objectives.

2. Aligning Investments With Your Goals

Effective diversification depends on your personal goals, time horizon, and tolerance for market changes. A financial advisor can assist in designing an allocation strategy that reflects your individual circumstances. This helps ensure your portfolio remains consistent with your broader financial plan over time.

3. Identifying and Managing Concentration Risks

Many investors unintentionally hold overlapping investments or place too much emphasis on one sector, company, or asset class. An advisor can review your holdings to help identify concentration risks and recommend ways to create a more balanced portfolio.

4. Providing Ongoing Monitoring and Adjustments

Over time, market movements can shift the proportions of your holdings. A financial advisor can periodically review and adjust your portfolio to help maintain your intended level of diversification. This process, known as rebalancing, supports consistency with your long-term objectives.

5. Offering Perspective and Guidance

Financial advisors bring perspective and experience to the investment process. During periods of market volatility, they can provide objective guidance and help you stay focused on your plan rather than reacting to short-term movements.

Key takeaway:

Diversification remains an essential part of long-term investing. Working with a financial advisor can help you structure and maintain a diversified portfolio that reflects your goals, adapts to market changes, and supports a disciplined investment approach.

October Market Update

Mon, 17 Nov 2025 17:05:58 GMT

Market Indices Performance

October Recap

The S&P 500 rose 2.3% in October, hitting new all-time highs and extending its positive streak to six straight months. 1 Tech stocks led gains once again, continuing a multi-year trend of outperformance. The benchmark 10yr Treasury yield ended the month nearly unchanged at 4.1%, though it did dip below 4% mid-month. ²

Due to the ongoing government shutdown, October’s inflation and labor market data have been delayed. September’s jobs report also remains delayed, but inflation numbers were released in late October. Both headline and core CPI came in at 3.0%, below expectations but still above the Federal Reserve’s 2% target, where inflation has remained for over 4.5 years now (figure 1). ³

The Federal Reserve delivered the second rate cut of 2025 on the 29th, lowering the federal funds rate to a range of 3.75%-4.00%. ⁴

Current Developments (November)

The current government shutdown has now surpassed the previous 35-day record to become the longest in U.S. history, but a bill to end it has finally passed the Senate and is headed to the House. ⁵

Corporate earnings have been impressive as reporting for Q3 continues; earnings growth of 13% has far exceeded initial expectations of 7%, helping propel stocks to new all-time highs. ⁶

A baseline 10% tariff and higher tariff rates on key trading partners like Canada (35%), Mexico (25%), India (50%), and Brazil (50%) remain in effect, while deals including 15% tariffs on most goods have been struck with Japan, South Korea, and the EU. ⁷

The Future

Despite the broad scope and magnitude of current tariffs, their legality has come into question. The Supreme Court will rule, likely by the end of the year, on whether the enacted tariffs comply with the International Emergency Economic Powers Act (IEEPA). If not, billions in tariff revenue will have to be refunded and future tariff revenue will fall significantly. ⁸

Wall Street is still predicting one final interest rate cut in 2025, which would bring the federal funds rate to a range of 3.50%-3.75%. However, Fed Chair Jerome Powell indicated that a cut in December is not a given, even after the majority of FOMC members supported one in September (figure 2). ^9,10

Since 1950, November has been the best-performing month of the year for stocks. ¹¹

1. https://ycharts.com/indices/%5ESPXTR , https://ycharts.com/indices/%5EDJITR , https://ycharts.com/indices/%5ENACTR , https://ycharts.com/indices/%5ERUTTR , https://ycharts.com/indices/%5EMSEAFETR , https://ycharts.com/indices/%5EBBUSATR – Index Performance

2. https://www.cnbc.com/bonds/ - Bond Yields

3. https://www.investing.com/economic-calendar/ - Economic data

4. https://www.federalreserve.gov/newsevents/pressreleases/monetary20251029a.htm - Fed rate cut

5 . https://www.cbsnews.com/live-updates/government-shutdown-latest-house-vote-senate-deal-trump/ - Government Shutdown Update

6. https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_110725B.pdf - Earnings

7. https://www.atlanticcouncil.org/programs/geoeconomics-center/trump-tariff-tracker/ - Tariff rates

8 . https://www.crfb.org/blogs/tariff-revenue-soars-fy-2025-amid-legal-uncertainty - Tariff legality

9. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html – Investor rate expectations

10. https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20250917.pdf - Fed dot plot

11. https://www.visualcapitalist.com/charted-average-sp-500-return-by-month-since-1950/ – Monthly market history

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

Certain risks exist with any type of investment and should be considered carefully before making any investment decisions. Keep in mind that current and historical facts may not be indicative of future results.

Staying Focused on the Long-Term: The Role of a Financial Plan and Advisor

Tue, 11 Nov 2025 15:05:01 GMT

Investing can feel complex, especially when the financial news is filled with daily market movements, stock price swings, and economic updates. While these fluctuations can capture attention, they represent only a small part of the broader investment picture. For many investors, maintaining a long-term perspective is an important part of building a financial plan that aligns with personal goals, risk tolerance, and time horizon.

Understanding the Long-Term Approach

A long-term investment approach emphasizes consistency, patience, and careful planning. Instead of making decisions based on short-term market events, investors may benefit from focusing on their overall objectives, such as retirement planning, education funding, or wealth preservation. Market ups and downs are normal and expected, and reacting impulsively to short-term changes can sometimes move an investment strategy off course.

Long-term investing also allows time for strategies such as diversification and asset allocation to potentially support the intended financial plan. A diversified portfolio can help manage exposure to different types of risk, while periodic reviews of asset allocation can help assess whether the investment approach continues to align with long-term goals.

The Role of a Financial Advisor

Financial advisors can provide perspective and guidance throughout the investment journey. By helping clients define their financial objectives, advisors assist in creating a personalized plan that reflects individual circumstances, risk tolerance, and time horizon. During periods of market volatility, advisors can help investors maintain focus on the long- term plan rather than reacting to short-term changes, offering insight into how market events may or may not impact long-term goals.

Advisors can also assist with regular reviews of a portfolio, recommending adjustments when appropriate to help keep investment allocations aligned with the plan. These periodic reviews can help investors make informed decisions based on their evolving needs rather than on market noise.

Maintaining Perspective

Staying focused on a long-term financial plan may help provide structure and support when market conditions are uncertain. While markets may fluctuate, the overarching goal of a long-term plan is to provide a framework for informed financial decisions. Investors who maintain a long-term perspective and regularly review their plan with a financial advisor may find it easier to navigate periods of volatility while keeping their objectives in mind. Investing for the long-term requires discipline, perspective, and a commitment to a financial plan designed to reflect individual goals and circumstances. By focusing on broader goals rather than day-to-day market movements, investors can make decisions that reflect their personal priorities. A financial advisor can help guide this process, providing guidance and support to help the plan remain aligned with an investor’s

objectives over time.

Smart Tips for Investment Management in Kalamazoo, MI

Tue, 04 Nov 2025 15:52:21 GMT

When it comes to building and maintaining a strong financial foundation, effective investment management in Kalamazoo, MI can make all the difference. Whether you’re saving for retirement, funding education, or planning for long-term growth, having a clear investment strategy with the right professional guidance can help keep you on track toward your goals.

Below are some smart tips for approaching your investments with discipline and confidence.

1. Start with a Clear Financial Plan

Before diving into investments, take time to define your financial goals. Are you saving for retirement, planning for a major purchase, or building long-term wealth? An investment advisor in Kalamazoo, MI can help you clarify your objectives and determine the appropriate level of risk for your situation.

2. Diversify Your Portfolio

Diversification is one of the key principles of sound investment management in Kalamazoo, MI. By spreading your investments across different asset classes, such as stocks, bonds, and alternative investments, you can help reduce the overall impact of market volatility.

An investment manager in Kalamazoo, MI can design diversified investment models in Kalamazoo, MI that align with your time horizon, goals, and comfort with risk.

3. Focus on Long-Term Goals

It can be tempting to react to short-term market movements, but successful investors keep their eyes on the bigger picture. Market fluctuations are normal, and patience often pays off. A professional investment advisory firm in Kalamazoo, MI can help you stay focused on your long-term objectives and help minimize emotional decision-making that may derail your progress.

4. Review and Rebalance Regularly

Your investment portfolio should evolve with your life and the market. Regular reviews and rebalancing can help your investments remain aligned with your goals and risk tolerance.

Working with experienced investment advisors in Kalamazoo, MI provides the added benefit of ongoing support, analysis, and accountability.

5. Understand the Costs and Risks

Every investment carries some level of risk, and it’s important to understand the costs associated with your strategy.

An investment advisory firm in Kalamazoo, MI will take the time to explain these details and help you feel informed and confident in your decisions.

6. Seek Personalized Advice

No two investors are the same. Personalized investment advice in Kalamazoo, MI takes into account your own financial situation, goals, and preferences. A tailored approach, supported by an independent investment manager in Kalamazoo, MI, can help you build a strategy designed for your individual needs.

Final Thoughts

Good investment management is about more than chasing returns. It’s about having a disciplined plan, staying informed, and partnering with professionals who understand your goals.

If you’re ready to take a more strategic approach to your financial future, consider working with an investment advisory firm in Kalamazoo, MI. The right team can provide the investment advice in Kalamazoo, MI you need to make confident, informed decisions at every stage of life.

How to End the Year Strong: Key Financial Considerations for Investors

Mon, 27 Oct 2025 14:45:34 GMT

As the year ends, many individuals begin reflecting on their financial goals of the current year and planning for the next year. Whether you’re focused on managing investments, optimizing taxes, or reviewing your overall financial strategy, year-end is an ideal time to make sure your financial plan aligns with your long-term objectives. Below are a few key areas to consider as you look to finish the year on a strong financial note.

1. Review Your Financial Plan and Investment Strategy

A comprehensive financial plan is not static, and it should evolve as your life, goals, and the markets change. Take time to review your portfolio’s performance over the past year and double check it remains aligned with your risk tolerance, time horizon, and investment objectives.

Rebalancing your portfolio may help keep your asset allocation in line with your long-term strategy, especially if market performance has caused certain investments to drift from their target percentages. Remember that diversification does not mean for sure profits or protection against loss in a declining market, but it can help manage risk over time.

2. Assess Tax-Efficient Opportunities

Before year-end, it can be beneficial to review your investment accounts and identify taxloss harvesting opportunities. Selling investments at a loss may offset realized gains, potentially reducing your taxable income. Additionally, consider contributing to taxadvantaged accounts such as IRAs, 401(k)s, or Health Savings Accounts (HSAs) before contribution deadlines.

Tax laws and regulations can change, so it’s important to consult with a qualified tax professional or financial advisor to confirm your strategy is appropriate for your individual circumstances.

3. Revisit Cash Flow and Savings Goals

Year-end is also an opportune time to review your budget, evaluate your emergency savings, and confirm that you’re on track with your short-term and long-term savings goals. Consider setting automatic contributions to your investment or savings accounts to help you stay disciplined in the coming year.

If your income or expenses have changed, updating your budget can help confirm your financial plan remains realistic and aligned with your priorities.

4. Evaluate Insurance and Estate Planning Needs

Financial wellness extends beyond investing. Review your insurance coverage, including life, health, disability, and property insurance to make sure it meets your current needs. Additionally, revisit your estate planning documents such as wills, trusts, and beneficiary designations to confirm they reflect your current wishes and family dynamics.

Working with an estate planning attorney and a financial professional can help provide clarity and add some insight to make sure your plan remains comprehensive.

5. Plan for the New Year

The best way to start the new year financially strong is to finish this year with intention. Use this time to set clear financial goals for the upcoming year. Whether it’s increasing retirement contributions, paying down debt, or building a diversified investment portfolio, creating measurable, achievable goals can help you stay motivated and make informed financial decisions throughout the year.

The Bottom Line

Year-end financial planning can provide valuable insight into your progress and help identify opportunities to improve your financial position. A trusted financial advisor can assist you in reviewing your plan, ensuring your investment strategy supports your objectives, and helping you prepare for the year ahead.

While no strategy can guarantee success, taking proactive steps today can help position you for a stronger financial future.

Gift Giving & Estate Planning

Fri, 17 Oct 2025 18:25:31 GMT

As the season of giving approaches, many people look for meaningful ways to share their wealth with loved ones or places that make an impact in their local community. Whether it’s helping a grandchild with college expenses, supporting a favorite charity, or simply giving a thoughtful financial gift, strategic gift giving can play an important and impactful role in your estate planning strategy.

Working with a financial advisor can help guide your generosity and align it with your long-term goals.

Why Gift Giving Belongs in Your Estate Plan

Gift giving isn’t just an act of kindness, but it can also be a smart financial planning strategy. By incorporating gifting into your estate plan, you can:

Reduce your taxable estate: The IRS allows individuals to gift up to a certain amount each year per recipient without triggering federal gift taxes. This can help reduce the size of your taxable estate over time.
Support family members or causes during your lifetime: Instead of waiting to pass assets through inheritance, you can witness the impact of your generosity today.
Simplify wealth transfer: Strategic gifting can make the estate settlement process smoother and less stressful for your beneficiaries.

A financial professional can help you navigate annual exclusion limits, lifetime exemptions, and other tax considerations so your gifts are both meaningful and efficient.

Understanding the Annual Gift Tax Exclusion

Each year, the IRS sets a gift tax exclusion limit. This is the amount you can give to an individual without using your lifetime exemption or owing gift taxes. For example, if you give $19,000 or less per person (based on 2025 and 2026 IRS limits)1, those gifts are generally tax-free for both you and the recipient.

This strategy can be especially effective for parents and grandparents looking to transfer wealth gradually. You can give to multiple children, grandchildren, or anyone else each year, reducing your estate while providing financial support to those you care about.

Gifting Beyond Cash: Creative Estate Planning Ideas

Gift giving doesn’t have to be limited to cash. A well-rounded estate plan might include:

Education funding: Contributing to a 529 college savings plan is a great way to invest in a child’s future while enjoying potential tax benefits.
Charitable gifts: Donating to qualified organizations can provide both emotional and tax rewards.

Each of these strategies carries unique financial and tax implications, so professional guidance is key.

How a Financial Advisor Can Help

A trusted financial advisor can help you integrate gifting into your broader estate planning and wealth management strategy. They can:

Evaluate how gifting fits into your long-term financial goals
Help calculate potential tax savings and implications
Coordinate with your estate attorney and CPA for a comprehensive plan

By working with professionals, you can have your generosity reflect both your values and your financial vision for the future.

Sources:

1: https://www.nerdwallet.com/article/taxes/gift-tax-rate

September Market Update

Fri, 17 Oct 2025 18:21:20 GMT

Market Indices Performance

September Recap

The S&P 500 rose 3.7% in September, hitting several new all-time highs and marking its fifth straight positive month. ¹ Big Tech stocks led the gains on the back of strong earnings and continued AI development. The benchmark 10yr Treasury yield ended lower, finally breaking below the 4.2% level as investors now expect three total rate cuts in 2025. ²

Due to the ongoing government shutdown, September’s inflation and labor market reports have been delayed. Expectations are for 3.1% inflation, 40k jobs added, and the unemployment rate remaining at 4.3%. ³ This would send inflation back above 3% for the first time since May 2024, another setback given that price growth has remained above the Federal Reserve’s 2% target for more than four and a half years now (figure 1).

The Federal Reserve delivered the first rate cut of 2025 on the 17th, with Chair Jerome Powell characterizing the move as a ‘risk-management cut’ in the face of a weakening labor market. ⁴

Current Developments (October)

On October 1, the government shut down over disagreements regarding healthcare funding . As of day 14, it has already become the 5 ^th longest shutdown since 1976. ⁵ Despite the political noise, stocks have historically held up well during shutdowns and performed even better afterwards (figure 2).

President Trump recently threated 100% tariffs on China following China’s announcement of further rare earth export controls. ⁶ Markets initially dropped on the news but rebounded after Trump hinted that a deal is likely to be reached before the November 1 deadline.

A baseline 10% tariff and tariffs on key trading partners like Canada (35%), Mexico (25%), India (50%), and Brazil (50%) remain in effect, while deals including 15% tariffs on most goods have been struck with Japan and the EU. ⁷

The Future

After another quarter of double-digit earnings growth in Q2, S&P 500 earnings are expected to rise 8% in Q3 . ⁸ October is historically a mediocre month for stocks, but November and December typically deliver strong gains. ⁹

Both Wall Street and the Federal Reserve continue to project two additional interest rate cuts in 2025, following the one in September. ¹⁰ This would bring the federal funds rate down to a range of 3.50%-3.75% by the end of the year.

2. https://www.cnbc.com/bonds/ - Bond Yields

3. https://www.investing.com/economic-calendar/ - Economic data

4 . https://www.cnbc.com/2025/09/17/fed-rate-decision-september-2025.html - Fed rate cut

5. https://www.ncsl.org/in-dc/federal-government-shutdown-what-it-means-for-states-and-programs- Government Shutdowns

6. https://www.theguardian.com/us-news/2025/oct/14/china-us-world-economy-trump-tariffs – China Tariffs

7. https://www.atlanticcouncil.org/programs/geoeconomics-center/trump-tariff-tracker/ - Tariffs

8 . https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_101025.pdf - Earnings

9. https://www.nasdaq.com/articles/heres-the-average-stock-market-return-in-every-month-of-the-year – Monthly market history

10. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html – Investor rate expectations

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

Year-End Tax Planning: How a Financial Advisor Can Help You Start the New Year Strong

Mon, 13 Oct 2025 13:04:28 GMT

As the year winds down, it’s the perfect time to review your finances and take steps to optimize your tax situation. Year-end tax planning isn’t just about reducing what you owe, it’s about setting yourself up for financial success in the year ahead. With thoughtful planning and guidance from a financial advisor, you can make the most of available strategies to help strengthen your financial foundation.

Why Year-End Tax Planning Matters

Many important tax-related opportunities close once the calendar year ends. By taking action before December 31, you may be able to:

Maximize deductions and credits
Adjust investment strategies for tax efficiency
Contribute to retirement accounts
Review capital gains and losses
Ensure charitable contributions are properly documented

A proactive approach allows you to make informed decisions that align with both your short-term goals and long-term financial plan.

Key Year-End Tax Strategies to Consider

Here are a few strategies individuals often review before the new year begins:

Maximize Retirement Contributions – Contributions to accounts like a 401(k) or IRA may reduce taxable income while helping you grow savings for retirement.
Harvest Investment Losses – Selling investments that have declined in value can offset capital gains elsewhere in your portfolio.
Review Charitable Giving – Donating to qualified charities may provide a deduction if you itemize. A financial advisor can help you explore options like donor-advised funds for strategic giving.
Evaluate Withholding and Estimated Taxes – Adjusting now can help you avoid surprises at tax time.
Use Flexible Spending Accounts (FSAs) – Check your FSA balance and use eligible funds before they expire.

Each situation is different, and the right mix of strategies depends on your income, goals, and tax bracket.

The Value of Working with a Financial Advisor

A financial advisor can help you see the full picture. Not just for your taxes, but how each decision fits into your broader financial plan. Working with an advisor can help you:

Identify personalized tax-saving opportunities
Coordinate strategies with your accountant or tax professional
Align investment choices with your long-term goals
Create a plan to start the new year financially confident

Your advisor can also help you prepare for upcoming changes in tax laws or contribution limits that could affect your 2026 planning.

Start the New Year Strong

Year-end tax planning is an opportunity to reflect, rebalance, and refine your financial strategy. By working with a financial advisor, you can move into the new year with clarity and confidence knowing you’re making decisions that support your long-term goals.

Good Debt vs. Bad Debt: A Quick Guide

Mon, 06 Oct 2025 14:03:13 GMT

Not all debt is created equal. While debt often gets a bad reputation, it can be a powerful financial tool or a costly mistake. The key is to know the difference between good debt and bad debt.

What Is Good Debt?

Good debt is borrowing that helps you build long-term value or increase your income. It’s typically low-interest and tied to investments in your future.

Examples include:

Student loans for education that increases earning potential
Mortgages that build home equity
Business loans that fund growth
Investment property loans generating rental income

Good debt works for you and helps you acquire assets or improve your financial position over time.

What Is Bad Debt?

Bad debt is borrowing for items that lose value quickly or don’t contribute to your financial growth. It often carries high interest and leads to long-term repayment without lasting benefit.

Examples include:

Credit card debt from non-essential spending
Payday loans with extremely high fees
Auto loans for luxury or unnecessary vehicles
Consumer loans for vacations or electronics

Bad debt drains your finances and can limit your ability to save or invest.

A good rule to follow is borrow with purpose, understand the terms, and avoid debt that doesn’t serve your future. When used wisely, and with the help of a financial planner, debt can be a stepping stone to financial independence, not a setback.

Retirees at Risk: How Financial Professionals Help Defend Against Digital Scams

Mon, 29 Sep 2025 13:36:35 GMT

As retirees increasingly rely on digital tools for banking, investing, and communication, they’ve also become one of the primary targets for today’s most sophisticated financial scams.

In 2025, Americans over the age of 65 represented the largest share of victims in reported financial cybercrimes. 1 With billions (16.6 billion in 2024) lost to phishing attacks, fake tech support calls, fraudulent investment schemes, credit card information stolen, and identity theft, many of these scams are no longer obvious. 1 They mimic real institutions, use familiar language, and in some cases even clone the voices of loved ones using AI.

Why Are Retirees Targeted?

Scammers often target retirees for several reasons:

They are more likely to have accumulated savings.
Many manage their finances independently, without employer oversight.
Some may be less familiar with newer digital threats or fast-changing technology.
Emotional manipulation. Such as pretending to be a grandchild in trouble is highly effective with this demographic.

The Role of Financial Professionals

Financial advisors and planners play a crucial role in protecting retirees. From market volatility to tax savings financial advisors help retirees stay concrete in their financial future. But as the digital age has grown, this also expands into the more prevalent invisible digital threats that may arise. Here’s how they help:

1. Education and Awareness

Advisors can proactively teach clients how to spot scams, question suspicious requests, and avoid common traps like urgent money transfers or unfamiliar links.

2. Account Monitoring

Many advisors help monitor for irregular account activity, unexpected withdrawals, or patterns that suggest coercion or fraud, especially for older clients.

3. Preventive Structures

Professionals can set up account protections, including multi-factor authentication, trusted contact authorizations, and restricted access to certain funds or accounts.

4. Fraud Response

In the event a scam does occur, financial professionals assist clients in contacting the right institutions, freezing accounts, reporting the fraud, and taking legal next steps if necessary.

Peace of Mind Through Partnership

In retirement, peace of mind doesn’t just come from a well-balanced portfolio. It comes from knowing your finances are protected, your accounts are monitored, and someone you trust is just a phone call away. The best financial advisors act as a first line of defense. If something feels suspicious, they want to hear about it before you respond or send money. One quick check-in could prevent a costly mistake.

Final Thought

If you're retired or approaching retirement, now is the time to strengthen your financial defenses. Make sure your financial professional is helping you stay not only invested, but protected. And remember: When in doubt, pause, then call your advisor.

Sources: 1. https://www.pewresearch.org/internet/2025/07/31/online-scams-and-attacks-inamerica-today/

August Market Update

Wed, 24 Sep 2025 20:23:27 GMT

Market Indices Performance

August Recap

The S&P 500 rose 2.0% in August , reaching new all-time highs and marking its fourth straight positive month.¹ Small cap stocks outperformed as expectations for a September interest rate cut increased. The benchmark 10yr Treasury yield ended roughly where it began after a spike in the middle of the month.²

Inflation , measured by the Consumer Price Index (CPI), rose 2.9% year-over-year, marking the 53rd consecutive month well above the Federal Reserve’s 2% target.³ The labor market continued to show weakness as employers again added fewer jobs than expected (22k vs 75k) . The unemployment rate ticked up to 4.3% ; it has remained below 4.5% since 2021, which is well below the historical average, but the Fed does not welcome further increases (see figure 1).⁴ The ratio of unemployed people to job openings remained slightly over 1.⁵

At the annual Jackson Hole meetings later in the month, Powell indicated that the Fed would be adjusting away from a more restrictive policy stance .⁶ Bond yields fell and stocks rose in response. President Trump’s reciprocal tariffs took effect on August 7th.⁷ Q2 GDP growth came in at 3.3%. ⁸

Current Developments (September)

Following what is shaping up to be a strong Q2 earnings season, analysts expect 10% earnings growth for the S&P 500 in 2025. ⁸ August tends to be a mediocre month for stocks and has historically marked the start of a challenging three-month stretch for markets. ¹²

Both Wall Street and the Federal Reserve continue to anticipate two interest rate cuts in 2025 . ^10,11 President Trump, however, has continued to call for the Federal Reserve to cut rates by over 1% to lower borrowing costs for consumers and refinancing costs for the Treasury. Potential tariff-driven price hikes and inflation remaining well above the 2% target have made the Fed hesitant to cut rates (see figure 2).

On September 17, the Federal Reserve expectedly delivered their first interest rate cut of 2025 . Powell described it as a “risk-management cut”.⁹ Short-term yields, which had dropped in anticipation of a rate cut at the beginning of the month, have since rebounded. Stagflation concerns are growing as inflation remains stubbornly above the 2% target and the labor market continues to slowly soften (see figure 2).

In defiance of historical seasonality, September has been a positive month for stocks so far. There has been little recent news on tariffs; however, reciprocal tariffs remain in effect, higher rates remain in effect on key trading partners like Canada (35%), Mexico (25%), India (50%), and Brazil (50%), a deal with China has been postponed, and key deals with Japan and the EU have been made.⁷

The Future

After Q2 delivered another quarter of double-digit earnings growth, Q3 earnings growth is expected to be 7.7% . The S&P 500’s P/E ratio of 22.6 remains well above its long-term average of 17.¹⁰ September is historically the worst-performing month for the stock market, especially in recent history.¹¹

Both Wall Street and the Federal Reserve now anticipate two further interest rate cuts in 2025 in addition to the September cut.¹² The Federal Reserve also revised its 2026 outlook, raising expectations for inflation and GDP and lowering expectations for the unemployment rate.¹³

2. https://www.cnbc.com/bonds/ - Bond Yields

3. https://www.investing.com/economic-calendar/cpi-733- CPI

4 . https://www.bls.gov/news.release/empsit.nr0.htm- Jobs reports

5. https://fred.stlouisfed.org/series/JTSJOL- Job openings

6. https://www.federalreserve.gov/newsevents/speech/powell20250822a.htm - Jackson Hole speech

7. https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/- Tariff tracker

8. https://www.bea.gov/news/2025/gross-domestic-product-2nd-quarter-2025-advance-estimate - Q2 GDP

9. https://www.federalreserve.gov/newsevents/pressreleases/monetary20250917a.html - September rate cut

10 . https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_091925.pdf - Earnings

11. https://www.nasdaq.com/articles/heres-the-average-stock-market-return-in-every-month-of-the-year – Monthly market history

12. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html – Investor rate expectations

13. https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20250917.pdf - Fed Outlook

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

Why You Might Want to Look at Life Insurance & Long-Term Care Earlier Than You Think

Fri, 19 Sep 2025 14:27:49 GMT

Talking about insurance isn’t exactly everyone’s favorite topic, but it’s an important one. Life insurance and long-term care (LTC) coverage are tools that can help you prepare for the unexpected. While many people wait until later in life, starting younger often means more flexibility, lower costs, and a wider range of choices.

What They Cover

Life insurance → pays a benefit to your beneficiaries if you pass away. This can help cover expenses like rent, loans, or general household costs.
Long-term care insurance → helps cover care expenses if you ever need help with daily activities over an extended period. This can include in-home care, assisted living, or nursing facilities costs that typically aren’t covered by health insurance or Medicare.

Why Younger Can Be Better

Costs are usually lower. Premiums are generally based on age and health. Applying earlier can mean lower monthly payments.
More likely to qualify. Good health makes approval easier. Waiting until health issues arise can limit options.
More choices. Some policies or riders are only available if you apply earlier.
Time to plan. Starting younger lets you spread out costs and build coverage into your budget gradually.
Less uncertainty. Putting coverage in place sooner can reduce the risk of being caught off guard later.

Things to Consider

Premiums are an ongoing cost, so make sure they fit within your budget.
You may be paying for long-term care coverage years before you use it.
Inflation riders, waiting periods, and benefit limits vary by policy. It’s important to understand the details.
Insurance needs can change over time. Reviewing coverage every few years is a good practice.

Getting Started

Think about who depends on your income now or who might in the future.
Compare different companies and products to understand what’s available.
Look at both stand-alone and combination (life + LTC) options.
Work with a licensed professional and financial planner who can walk through your personal situation.

Final Thought

Exploring life insurance and long-term care while you’re younger doesn’t mean you expect the worst. It means you’re preparing ahead of time, so future choices are less stressful and potentially more affordable.

Disclaimer:

This blog is for informational purposes only. It is not intended as legal, tax, or investment advice. Insurance products vary, and everyone’s situation is different. Please consult with a licensed insurance or financial professional before making decisions about coverage. Any opinion included in this blog constitutes our judgment as of the date of this report and are subject to change without notice. The views expressed are those of the author as of the date noted, are subject to change based on market and other various conditions. Certain risks exist with any type of investment and should be considered carefully before making any investment decisions. Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website, https://adviserinfo.sec.gov/firm/summary/123807 .

Your Money Can Work While You Sleep (So You Don’t Have to Work Forever)

Fri, 12 Sep 2025 18:33:24 GMT

Imagine waking up in the morning and realizing your money has been busy working while you slept. That’s the power of a thoughtful financial plan—shifting from working for every dollar to having your dollars quietly working for you.

Creating Your Financial Roadmap

Financial planning starts with clarity. A financial advisor or consultant can help outline a plan that reflects your goals, resources, and time horizon.

This can include:

Individual and personal financial planning for major milestones like buying a home or funding education.
Financial planning for businesses to align growth with long-term stability.
Retirement plans for small businesses that support both owners and employees.

A financial planning firm brings together these services so you can look at the bigger picture, not just one piece at a time.

Preparing for the Unexpected

Life doesn’t always go according to script, which is why planning for the “what ifs” is so important. Disability planning and life insurance services can provide support for you and your family in unforeseen circumstances.

Estate planning is another key step. Working with an estate planner or using estate planning services helps organize how your assets are managed in the future.

Making Your Investments Work

Investing is one of the most effective ways to put your money to work. Investment advisors, investment managers, and advisory firms can provide guidance tailored to your situation. Services such as investment management and the use of investment models help bring structure and consistency to your approach.

If retirement is on your horizon, retirement income planning, retirement plan investments, and ongoing retirement planning services can help align your resources with the lifestyle you want.

Managing Risk Along the Way

Every financial plan comes with some level of risk. That’s why risk management services and financial risk assessments are essential. A risk manager can help identify potential challenges before they become major issues.

For those who need additional oversight, fiduciary services can help ensure that financial decisions are carried out in accordance with established standards.

Support for Businesses

Business owners often juggle both personal and commercial priorities. That’s where business plan consulting and commercial financial services come in. Combining these with broader financial planning creates a consistent framework for both sides of the equation.

Letting Your Money Do the Work

At the end of the day, the goal of financial planning isn’t about working harder—it’s about giving your money the chance to do some of the work for you. With support ranging from personal planning to investment management, retirement strategies, and risk awareness, your finances can be set up to keep moving even when you’re not.

So go ahead—get some rest. Your plan can keep working while you sleep.

The information contained in this presentation has been compiled from third party sources and is believed to be reliable; however, its accuracy is not guaranteed and should not be relied upon in any way, whatsoever. This is for informational purposes only and does not constitute an offer to sell or a solicitation to purchase any products or services. All investments involve risk (the amount of which may vary significantly), and investment recommendations will not always be profitable. Additional information, including management fees and expenses, is provided on our Form ADV Part 2, available upon request or at the SEC’s Investment Advisor Public Disclosure website, https://adviserinfo.sec.gov/firm/summary/123807 .

The Latte Factor: Can Skipping Coffee Really Make You a Millionaire?

Tue, 09 Sep 2025 14:46:41 GMT

You’ve probably heard the advice: “Skip your daily latte and retire rich.” This idea, now commonly known as The Latte Factor, was popularized by author David Bach. But is skipping coffee really the secret to building wealth or just financial clickbait?

What Is the Latte Factor?

The Latte Factor refers to small, everyday purchases that add up over time. A $5 coffee might not seem like much, but spent daily, that’s around $1,825 per year. If invested with a 7% annual return over 30 years, it could grow to $172,390.

Can It Make You a Millionaire?

In short, no, not by itself. Skipping coffee won’t make you a millionaire unless you pair it with other smart money moves like investing regularly, increasing your income, and avoiding high-interest debt.

The real point of the Latte Factor isn’t about coffee. It’s about awareness of where money is going. Small, unconscious spending habits can prevent you from achieving bigger financial goals.

When It Makes Sense to Cut Back

Consider cutting out small expenses if:

You’re struggling to save or pay down debt
You're living paycheck to paycheck
You’re spending out of habit, not enjoyment

What Builds Real Wealth?

Skipping lattes might help, but true wealth comes from:

Consistent saving and investing
Growing your income
Avoiding lifestyle inflation
Making intentional financial choices

Final Thought

The Latte Factor is a helpful metaphor, but it is not a magic formula. It’s not about guilt; it’s about being mindful. If your coffee brings joy and fits your budget, enjoy it. Just make sure your financial habits support your long-term goals.

Sources:

All content presented is for educational purposes only and should not be construed as a solicitation or offer to sell securities or provide investment, tax, or legal advice. All examples are hypothetical, for illustrative purposes only, and are merely arithmetic calculations. They are not representative of the performance of any type of investment, security, or strategy offered by the firm. Past performance is not indicative of future results. Investing involves risk, including the potential loss of principal. Hypothetical returns do not reflect actual trading and may not be indicative of the performance of any specific investment. They are based on assumptions and estimates that may not be accurate or applicable to your individual situation. Always consult with a qualified financial advisor before making any investment decisions. Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Advisor Public Disclosure

Site https://adviserinfo.sec.gov/firm/summary/123807 .

The Tariff Situation

Fri, 29 Aug 2025 20:52:10 GMT

As you likely know, tariffs have been a major theme of the Trump administration in 2025. These tariffs are being implemented for a few reasons: negotiation/bargaining, punishment/sanction, and improving the U.S.’s economic situation.

As a reminder, a tariff is a tax on imported goods. For example, raising the tariff rate on Japan to 25% means that all goods that U.S. companies import from Japan will be subject to a 25% tax at the port of entry.

Punitive and Reciprocal Tariffs

The tariff announcements began in February, with President Trump threatening 25% punitive tariffs on Canada and Mexico if they didn’t stop the flow of fentanyl across their borders.

In April, Trump and the Secretary of Commerce Howard Lutnick announced “reciprocal tariffs”, aimed at lowering the trade deficits between the U.S. and foreign countries. These included a base 10% duty on all countries that have tariffs on U.S. goods, as well as significantly higher rates on countries with high tariff rates on U.S goods (like 46% on Vietnam). This announcement sent stocks reeling as the rates were much higher than expected. Stocks fell 14% in the next 4 days. Then, Trump put a 90-day pause on these reciprocal tariff and stocks rose almost 10% that day. As of August, these tariffs have gone into effect for all countries who haven’t made deals with the U.S. (Japan, Vietnam, and the EU have notably made deals).

Targeted 50% Tariffs: India & Brazil

India and Brazil have emerged as focal points of the new tariff strategy. India initially faced a 25% reciprocal tariff, but that was doubled to 50% since they are continuing to import Russian oil. Brazil’s tariff rate was raised from 10% to 50%, mostly for political reasons.

Steel, Aluminum, and Auto Tariffs

Industry-specific tariffs have also increased sharply. In March 2025, a 25% duty was imposed on steel and aluminum imports, which was raised to 50% by June. Automobile tariffs, initially announced in early April, were levied at 25%.

Economic Implications

The average effective U.S. tariff rate is now around 18%, jumping from 2% in 2024 and the highest since the 1930s. Many economists, including those at the Federal Reserve, are worried that these tariffs, since they are paid by U.S. importers, will be passed onto consumers and increase an already high inflation rate. On the flip side, Treasury Secretary Scott Bessent says tariffs could bring in $500 billion a year in revenue.

Conclusion

This situation is constantly changing, and many of the economic effects of these tariffs have likely not been felt yet. We will continue to monitor the effect of tariffs on the economy and the market.

Sources:

https://www.lpl.com/research/blog/five-key-tariff-takeaways.html

https://www.project44.com/tariff-tracker/

https://www.atlanticcouncil.org/programs/geoeconomics-center/trump-tariff-tracker/

https://www.reuters.com/world/us/bessent-says-us-tariff-revenue-could-be-well-over-500-billion-year-2025-08-26/

https://www.whitehouse.gov/presidential-actions/2025/07/addressing-threats-to-the-us/

July Market Update

Fri, 22 Aug 2025 15:36:18 GMT

Market Indices Performance

July Recap

The S&P 500 rose 2.2% in July , its third straight positive month after three straight negative months.1 International equities continued to underperform after outperforming earlier in the year, as positive earnings announcement for U.S. stocks have continued to drive domestic prices higher. Bond yields ended the month roughly where they started, dipping late in the month after a weak jobs report signaled concerns for long-term growth.²

Inflation , measured by the Consumer Price Index (CPI), rose 2.7% year-over-year, marking the 52nd consecutive month above the Federal Reserve’s 2% target.3 The labor market has started to show some cracks: employers added fewer jobs than expected (73k vs 106k) and the previous two reports were revised down by a whopping 250k jobs . The unemployment rate remained steady, ticking up to 4.2% ; it has remained below 4.5% since 2021, which is well below the historical average (see figure 1).⁴ The ratio of job openings to unemployed people continues to hover around 1.⁵

President Trump signed the “One Big Beautiful Bill” into law over the 4th of July weekend. It permanently extends the individual income tax brackets set in 2017, allows deductions for tips, overtime pay, and those over 65 years old, and establishes “Trump accounts” - savings accounts for children born between 2025 and 2028, each initially funded with a $1,000 government contribution into a selected investment. Whie these tax breaks and spending cuts are projected to boost GDP, the act is still expected to add ~$3.5 trillion to the federal deficit.⁶

Current Developments (August)

President Trump’s increased reciprocal tariff rates went into effect on August 7 . Since April, markets have grown less reactive to tariff headlines, seemingly choosing instead to wait for real data from the tariffs before reacting. A trade deal with China has been postponed for another 90 days, while deals with other large economies like Japan and the EU have been finalized and include commitments for significant investment in the U.S.⁷

As the end of Q2 earnings season approaches, growth is tracking around 12% , well above the 5% expected at the start of the quarter.⁸ GDP grew by 3% in Q2 after contracting in Q1.⁹ Both consumer and producer price inflation were higher than expected in August, slightly lowering the odds of a rate cut in September.¹⁰

The Future

2. https://www.cnbc.com/quotes/US10Y/- 10yr Treasury Yield

3. https://www.investing.com/economic-calendar/cpi-733- CPI

4 . https://www.investing.com/economic-calendar/nonfarm-payrolls-227 - Jobs reports

5. https://fred.stlouisfed.org/series/JTSJOL- Job openings

6. https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/- Tariff tracker

7. https://www.wealthenhancement.com/blog/one-big-beautiful-tax-bill - Big Beautiful Bill

8. https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_071125.pdf - Earnings

9. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html – Investor rate expectations

10. https://www.jpmorgan.com/insights/outlook/economic-outlook/fed-meeting-June-2025 - Fed Outlook

11. https://www.nasdaq.com/articles/heres-the-average-stock-market-return-in-every-month-of-the-year – Monthly market history

12. https://www.atlantafed.org/cqer/research/gdpnow - Q2 GDP

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

Understanding Interest Rates: Why They Matter to You

Fri, 22 Aug 2025 15:08:34 GMT

Interest rates may seem like a topic best left to economists and bankers, but they play a critical role in your everyday financial life. Whether you're borrowing money, saving for the future, or investing, understanding how interest rates work can help you make smarter financial decisions.

What Are Interest Rates?

An interest rate is the cost of borrowing money, expressed as a percentage1. When you take out a loan, you pay interest to the lender. When you deposit money in a savings account, the bank may pay you interest in return. It’s the price of using someone else's money or the reward for letting someone else use yours.

Who Sets Interest Rates?

In the U.S., the Federal Reserve (or “the Fed”) influences short-term interest rates through the federal funds rate. This rate affects everything from mortgage loans to credit card APRs. When the Fed raises rates, borrowing becomes more expensive. When it lowers rates, loans become more affordable, often to stimulate economic growth.

Why Interest Rates Change

Interest rates are adjusted to manage inflation, support employment, and stabilize the economy. For example:

Rising rates can help cool inflation but also make borrowing more costly. We have seen this over the last couple of years.
Falling rates can encourage borrowing and spending but may reduce returns on savings. This narrative has become more vocal in 2025 with our president begging for rates to fall.

These shifts can impact both your short-term budget and long-term financial plans.

How Interest Rates Affect You

Loans & Mortgages: A small change in rates can significantly affect your monthly payments and total loan costs.
Credit Cards: Most credit cards have variable rates, meaning your debt becomes more expensive when rates rise.
Savings & Investments: Higher interest rates can increase your savings returns and influence investment strategies.
Consumer Behavior: Rate changes often affect when and how people borrow, spend, and save.

How a Financial Advisor Can Help

Navigating interest rate environments can be complex, especially when you're balancing multiple financial goals. A financial advisor can:

Help you time major financial decisions, such as refinancing a mortgage or locking in a fixed-rate loan
Adjust your investment strategy to account for rate-sensitive assets like bonds or real estate
Guide your savings plan to take advantage of higher-yield opportunities
Offer personalized advice on managing debt in rising-rate environments

With expert insight, an advisor can help you avoid common pitfalls and align your financial strategy with current economic conditions.

Final Thoughts

Interest rates may not seem like a personal concern, but they directly affect your finances: from your debt to your savings to your investment portfolio. Understanding how they work and working with a financial advisor can help you make confident, well-timed financial choices in any rate environment.

Sources:

https://www.investopedia.com/terms/i/interestrate.asp

Retirement: The Qualitative and Quantitative Aspects

Mon, 18 Aug 2025 13:48:37 GMT

Retirement represents a pivotal phase in an individual’s life, marked by the transition from employment to a lifestyle supported by accumulated financial resources and personal planning. While often approached primarily through a financial lens, effective retirement planning must also incorporate qualitative factors that influence well-being, identity, and life satisfaction. This article outlines both the quantitative and qualitative dimensions of retirement, emphasizing the importance of a balanced and holistic perspective.

Qualitative Aspects

Beyond the numbers, retirement is a profound personal and emotional transition that affects daily life, self-perception, and interpersonal relationships. Here are a few aspects that influence a successful retirement transition:

1. Sense of Purpose

Many retirees experience a loss of identity upon leaving the workforce. A successful retirement often involves finding new purpose through activities such as volunteering, mentoring, or creative pursuits.

2. Social Engagement

Social isolation is a common challenge, particularly for those who derived much of their interaction from the workplace. Maintaining strong social networks contributes significantly to mental health and emotional resilience.

3. Health and Lifestyle

Retirement presents an opportunity to focus on physical and mental well-being. Establishing healthy routines, engaging in regular exercise, and pursuing intellectual interests are vital for a high quality of life.

4. Psychological Adjustment

The emotional shift into retirement can be complex, requiring time to adjust to a new identity and lifestyle. Gradual retirement or pre-retirement counseling may ease this transition.

Quantitative Aspects

The quantitative side of retirement focuses on measurable financial and logistical elements essential to sustaining one’s standard of living.

1. Financial Preparedness

This includes the evaluation of retirement savings, income streams such as pensions and Social Security, and investment portfolios.

2. Life Expectancy and Longevity Risk

With increasing life expectancy, retirees must plan for potentially 25–30 years of post-employment life.1 Longevity risk is the risk of outliving one’s assets and necessitates careful financial forecasting and often calls for conservative investment and withdrawal strategies.

3. Healthcare Costs

Healthcare remains one of the most significant expenses in retirement. Retirees must anticipate out-of-pocket costs for insurance premiums, medical procedures, medications, and potential long-term care. Planning for these costs is critical to avoid financial strain later in life.

4. Investment Strategy and Risk Management

Retirement typically involves a shift from growth-focused investing to capital preservation. Retirees must balance the need for income generation with the desire to protect against market volatility and inflation.

Conclusion

A meaningful and secure retirement depends on both quantitative preparation and qualitative enrichment. Financial planning lays the foundation, but personal fulfillment, health, and social engagement define the experience. A truly successful retirement is one that aligns financial stability with purposeful and satisfying living.

Source:

https://www.dunham.com/FA/Blog/Posts/financial-planning-in-an-era-of-longer-lifespans?ref=dunham.ghost.io

How Technology Is Transforming Financial Advisors

Thu, 07 Aug 2025 21:30:12 GMT

The financial advisory industry is undergoing a significant transformation, driven by rapid advances in technology. Once reliant solely on face-to-face meetings and manual portfolio management, today’s financial advisors are leveraging digital tools to offer smarter, faster, and more personalized financial guidance.

Far from replacing financial advisors, technology enhances their capabilities, allowing them to deliver more value to clients, stay compliant, and compete in a fast-changing market.

1. The Digital Shift in Financial Advising

The traditional model of financial advising that involves paper documents, in-person meetings, and delayed communications, is becoming obsolete. Clients now expect real-time updates, mobile access, and digitally driven experiences.

Advisors who embrace technology are not just meeting these expectations; they’re creating new value. Cloud-based platforms, CRM tools, and secure client portals are streamlining workflows, freeing up more time for relationship-building and strategic planning.

2. Robo-Advisors: Competitor or Complement?

Robo-advisors are automated, algorithm-driven investment platforms that were initially seen as a threat to traditional advisors. But the story has changed. Instead of replacing human advisors, robo-advisors are now often integrated into hybrid advisory models, combining the efficiency of automation with the insight of human expertise.

For example, financial advisors can use robo platforms to handle routine tasks like portfolio rebalancing or tax-loss harvesting, while focusing their time on complex planning, retirement strategies, and holistic financial coaching.

3. Artificial Intelligence and Data Analytics

AI is becoming a trusted partner for financial advisors. By analyzing massive amounts of client data, AI tools can uncover patterns, identify risks, and generate tailored recommendations that help advisors offer more proactive and customized advice.

With predictive analytics, advisors can forecast life events and suggest actions long before clients even ask. This makes the advisor not just a service provider, but a true financial partner.

4. Client Experience: Personalized, Digital, and On-Demand

Modern clients, especially Millennials and Gen Z, expect a digital-first approach to money management. Advisors are meeting this need with client dashboards, mobile apps, and video conferencing tools that make communication fast and convenient.

Technologies like e-signatures, digital onboarding, and interactive financial planning software improve transparency and foster engagement. Some advisors even use gamification or AI-powered chatbots to make financial literacy more accessible.

5. Compliance and Cybersecurity in a Digital World

As advisors handle more client data online, cybersecurity and regulatory compliance are top priorities. Fortunately, technology also provides solutions here. Compliance tools can monitor communication, generate audit trails, and ensure KYC/AML standards are met with minimal manual input.

Secure document storage, multi-factor authentication, and encrypted messaging platforms help advisors build trust and maintain client confidentiality.

6. Open Banking and Financial Integration Tools

Thanks to Open Banking and API-driven platforms, advisors can now access clients’ complete financial picture. From banking and loans to retirement accounts and insurance, advisors can get up to date data all in one place without having to ask for updated paper statements. This integrated view allows for holistic planning and better decision-making.

Tech-forward advisors are leveraging aggregation tools like eMoney, MoneyGuidePro, or RightCapital to deliver dynamic plans that evolve with clients' goals and can track real time habits of their clients.

7. Fiduciaries vs. Technology?

As technology becomes central to financial services and governance, fiduciaries must evolve to meet new standards of care, loyalty, and prudence. Today’s fiduciary responsibilities extend beyond traditional decision-making to include oversight of AI tools, digital platforms, data privacy, and cybersecurity. Whether it’s relying on algorithm-driven investment strategies or evaluating third-party tech vendors, fiduciaries are now expected to exercise digital literacy and ethical judgment in tandem with legal obligations. The rise of opaque algorithms, ESG scoring tools, and automated systems requires not only informed adoption but transparent governance. Technology is no longer a support function it’s becoming a core fiduciary consideration within decision making and putting client’s best interests forward.

In conclusion, while some may fear that the integration of technology into the financial sector could diminish control, the reality is quite the opposite. By leveraging advanced tools, advisors are empowered to deliver enhanced, personalized service, allowing them to focus more effectively on their clients and streamline the overall experience.

Sources:

Importance of Personal Finance

Fri, 01 Aug 2025 13:38:50 GMT

Managing personal finances does not need to be overwhelming. Achieving long-term financial goals often begins with simple steps, such as creating a budget and implementing effective debt management strategies. By adopting a few disciplined habits, you can establish a strong financial foundation, reduce stress, and move closer to financial independence. Whether you're just getting started or seeking to refine your approach, consider these five key steps to strengthen your financial well-being:

1. Set Clear Financial Goals

Before creating a budget or starting to save, take time to clearly define your financial goals. It's difficult to make meaningful progress without a clear direction. Identify what you want to achieve. Whether it’s paying off debt, purchasing a home, or building an emergency fund, categorizing your goals by timeframe: short-term (1–2 years), medium-term (3–5 years), and long-term (10+ years) can help give direction to which order your goals should fall. Well-defined, measurable goals provide clarity, purpose, and motivation to stay on track.

2. Track Your Spending

You can’t fix what you can’t see. Begin by tracking all your income and expenses for a month to gain a clear picture of your financial habits. Whether you use budgeting apps, spreadsheets, or simply pen and paper, the goal is to identify spending patterns, highlight areas for improvement, and uncover potential savings opportunities.

3. Create a Simple Budget

A budget is a strategic plan for managing your finances. To create one, begin with your total income, deduct your fixed expenses, such as rent, utilities, and other essential bills, then allocate the remaining funds toward financial goals, savings, and discretionary spending. The 50/30/20 rule is a great place to start:

50% needs
30% wants
20% savings/debt repayment

Remember, this is a general structure to help give an idea. Adjust as needed to fit your life.

4. Build an Emergency Fund

An emergency fund is your financial safety net. Aim to save at least a measurable, fixed dollar amount to start, then work up to 3–6 months of living expenses. Keep it in a high-yield savings or checking account so it is accessible, but out of everyday reach. This fund keeps unexpected expenses from turning into debt or even more stress.

5. Pay Off Debt and Start Investing

Focus on high-interest debt first, like credit cards. Then, compare which debt is ok with sticking around by seeing if it is Good Debt or Bad Debt. A good way to do this is by measuring the life of the item that has the debt associated with it and how long you plan to use said item. For example, a mortgage on a home is Good Debt. A home is an appreciating asset that most people will use for many years. A high-interest personal loan is an example of Bad Debt. Credit cards are the perfect example of this.

A common tactic used to get Bad Debts under control is the debt snowball. This approach involves focusing on paying off the smallest balances first while maintaining minimum payments on larger debts. As each balance is eliminated, the freed-up funds are rolled into the next smallest debt, creating a compounding effect. This method builds momentum and motivation, helping you stay engaged as payments grow and debts are steadily eliminated.

Once debt is under control, investing in the future is the next step. Use retirement accounts like 401(k)s or IRAs for long-term, tax beneficial growth. Time and consistency are your best friends when planning.

What Is Risk Management in Financial Planning?

Fri, 25 Jul 2025 14:56:16 GMT

Risk management in financial planning is the process of understanding potential financial threats, evaluating their significance, and taking proactive steps to reduce their impact.

These risks may arise from changes in the market, unexpected personal challenges, rising costs, tax implications, or broader economic changes. While it’s not possible to eliminate risk completely, effective financial planning helps you anticipate challenges, reduce their severity, manage their effects, and recover more effectively when setbacks occur.

Why Risk Management Is Crucial

1. Preserves Your Capital

The first rule of investing is often, “Don’t take losses.” Risk management helps protect your principal, so you're not forced to sell after a major loss.

2. Keeps Emotions in Check

Fear and greed drive many poor financial decisions. With a risk management strategy in place, you’re less likely to panic during market volatility or chase unrealistic gains.

3. Improves Financial Resilience

Life is unpredictable, and events like job loss, health emergencies, or market downturns can quickly disrupt your plans if you're not prepared. Risk management helps create a financial cushion, giving you the stability to navigate these challenges more confidently.

4. Ensures Long-Term Growth

A well-balanced approach to risk helps you stay invested for the long term, which is where real wealth accumulation happens. It prevents overexposure to risk while still allowing growth.

5. Aligns Your Portfolio with Your Life Goals

Not every investor is trying to beat the market. Some just want a comfortable retirement or a college fund for their kids. Managing risk aligns your financial plan with your goals and time horizons.

Core Risk Management Strategies

1. Asset Allocation

Asset allocation refers to how you distribute your investments across different asset classes such as stocks, bonds, and real estate. A younger investor may choose a higher proportion of stocks to pursue growth over a longer time horizon. In contrast, someone approaching retirement is more likely to prioritize stability and capital preservation by allocating more to bonds or dividend-paying stocks.

2. Diversification

Even within an asset class, spreading your investments across industries, geographies, and types of securities can reduce the risk of any one failure hurting your portfolio. Don’t put all your eggs in one basket.

3. Insurance Planning

Life, health, disability, and property insurance all protect against unexpected events that can have a major financial impact.

4. Emergency Fund

This is your first line of defense against sudden expenses or income loss. A fully funded emergency reserve helps you avoid tapping into your investments during downturns.

5. Contingency Planning

A good financial plan includes backup strategies for major life events, such as losing a job, dealing with illness, or supporting a family member. Having backup plans in place can help you stay focused and make clear decisions, even when emotions are running high.

6. Regular Monitoring and Rebalancing

Market changes may shift your portfolio away from your desired risk level. Rebalancing brings it back in line and helps manage risk over time.

Risk Management at Different Life Stages

Risk tolerance and financial priorities often evolve with age, but everyone is different. The following examples offer a general framework to help assess an appropriate level of risk based on your stage in life:

In your 20s–30s: You can typically afford to take more investment risk (long time horizon).
In your 40s–50s: Risk should be more balanced. Growth is still important, but so is preservation and protection of principal.
In your 60s and beyond: Capital protection and income become more critical than aggressive growth. Preservation of funds is of utmost importance.

A financial plan that adapts to each stage of life while maintaining a focus on risk management is both effective and prudent.

Make Risk Work For You, Not Against You

Risk in financial planning is not inherently negative; in fact, it is often a key driver of wealth creation and a necessary element in achieving long-term goals. When managed effectively, risk can present valuable opportunities. However, unmanaged risk can lead to significant setbacks. Through thoughtful planning and the use of appropriate risk management strategies, you can navigate uncertainty with greater confidence and make informed decisions that align with your objectives. Ultimately, risk management is not just about minimizing losses, but about building a resilient and adaptable financial plan capable of withstanding challenges and continuing to grow over time.

The Gasaway Team

7110 Stadium Drive

Kalamazoo, MI 49009

(269) 324-0080

FAX (269) 324-3834

Maximizing Social Security: A Key Pillar in Retirement Financial Planning

Mon, 21 Jul 2025 14:41:04 GMT

When it comes to preparing for retirement, Social Security often serves as the foundation of most Americans' retirement income. While it was never intended to be the sole source of income in retirement, Social Security remains a vital component in any comprehensive financial plan. Understanding how it fits into your retirement strategy and how to maximize its benefits can make a significant difference in your long-term financial security.

The Role of Social Security in Retirement Planning

Social Security is a government-administered insurance program that provides guaranteed monthly income based on your lifetime earnings and contributions through payroll taxes. For many retirees, it accounts for a significant portion of their income. According to the Social Security Administration, the program replaces about 40% of the average worker’s pre-retirement income. For lower-income earners, that percentage may be even higher(1).

However, to build a stable and sufficient retirement income, Social Security should be considered one part of a three-legged stool, along with personal savings (such as IRAs or 401(k)s) and employer-sponsored pensions or retirement plans. As pensions are starting to phase out, items like an emergency fund or money market funds are becoming more and more important to help with budgeting and immediate expenses.

Key Planning Considerations

1. Timing Your Claim Strategically

One of the most important decisions in retirement planning is when to begin collecting Social Security benefits. You can start receiving benefits as early as age 62, but doing so will reduce your monthly benefit by ~30% permanently. Conversely, delaying benefits beyond your full retirement age can increase your benefit by up to 8% per year until age 70 (2).

Factors to consider:

Life expectancy and health status
Employment plans after age 62
Need for immediate income vs. long-term income security
Spousal or survivor benefits

2. Understanding Spousal and Survivor Benefits

Social Security also offers benefits for spouses, ex-spouses, and survivors. If you are married, you may be entitled to receive up to 50% of your spouse's benefit, and surviving spouses may receive their deceased spouse’s full benefit if it is higher than their own.

In retirement planning, it’s important to coordinate benefits between spouses to optimize household income, especially when one partner has significantly higher lifetime earnings.

3. Tax Implications

Social Security benefits may be taxable depending on your total income. If your combined income (adjusted gross income + nontaxable interest + 50% of your Social Security benefits) exceeds certain thresholds, you could pay tax on up to 85% of your benefits.

A tax-aware retirement income plan can help minimize taxes and stretch your retirement dollars further. With the ‘One Big Beautiful Bill Act’ now becoming law, from 2025-2028 seniors age 65 and older will get an additional $6,000 deduction to use on their taxes if their adjusted gross income is below $75,000 ($150,000 for married) (3). This new law will have an impact on whose Social Security will be exposed to being taxable and whose will not.

4. Inflation Protection

One of the advantages of Social Security is that it is adjusted annually for inflation through cost-of-living adjustments. This built-in inflation protection makes it a reliable income stream in retirement and helps preserve purchasing power over time, something few private annuities or pension plans offer.

Integrating Social Security into Your Financial Plan

Incorporating Social Security into your broader financial plan requires careful analysis of your income needs, expected expenses, other retirement assets, and goals. A few best practices include:

Estimating future benefits using tools like the SSA’s online calculator or statements from your "my Social Security" account.
Running scenarios to test different claiming ages and how they impact long-term financial outcomes.
Coordinating with other income sources to create a tax-efficient withdrawal strategy.
Consulting a financial planner to tailor your strategy based on your personal needs.

The Bottom Line

Social Security is more than just a monthly check; it’s a critical asset in your retirement portfolio. Making informed decisions about when and how to claim your benefits can significantly impact your financial well-being over the course of your retirement. While you can't control market returns or interest rates, you can control your Social Security strategy. Used wisely, it can enhance your income security and provide peace of mind as you transition into retirement.

Sources:

1: https://www.ssa.gov/policy/docs/ssb/v72n3/v72n3p37.html

2: https://www.ssa.gov/benefits/retirement/planner/agereduction.html

3: http://irs.gov/newsroom/one-big-beautiful-bill-act-tax-deductions-for-working-americans-and-seniors

This is not an offer or a solicitation to buy or sell securities. Material is meant to provide general information and it is not to be construed as specific investment, tax or legal advice. The information has been compiled from third party sources. Keep in mind that current and historical facts may not be indicative of future results. Additional information, including management fees and expenses, is provided on our Form ADV Part 2, available upon request or at the SEC’s Investment Advisor Public Disclosure website, https://adviserinfo.sec.gov/firm/summary/123807 .

The One Big Beautiful Bill Act: A Comprehensive Overview of Trump’s 2025 Tax Reform

Wed, 16 Jul 2025 15:10:56 GMT

On July 4, 2025, President Donald J. Trump signed into law the One Big Beautiful Bill Act (OBBBA), a far-reaching tax and spending package that reshapes key components of the U.S. fiscal landscape. The legislation, extending more than 900 pages, builds upon the 2017 Tax Cuts and Jobs Act and introduces substantial changes across individual taxation, corporate incentives, federal entitlement programs, and national spending priorities.

Key Provisions of the Legislation

1. Extension of Individual Tax Provisions

The OBBBA makes permanent the reduced personal income tax rates initially established under the 2017 Tax Cuts and Jobs Act. The individual rate brackets (10% to 37%) and expanded standard deduction are maintained indefinitely, offering tax continuity for most income earners.²

2. Modification of the State and Local Tax (SALT) Deduction

The legislation increases the SALT deduction cap from $10,000 to $40,000 for taxpayers earning less than $500,000 annually. This expanded deduction gradually phases out for higher earners and is scheduled to revert to its original cap in 2030.¹

3. Introduction of New Deductions and Tax Benefits

Several temporary deductions, effective through 2028, have been introduced. These include:

• Tax exemption for tips and overtime wages²

• Deductibility of auto loan interest²

• An additional $6,000 deduction for senior citizens over age 65²,³

• Expanded child tax credits and tax-deferred child benefit accounts²

4. Estate and Charitable Giving Revisions

The estate tax exemption is increased to $15 million beginning in 2026. Furthermore, the bill allows non-itemizers to deduct qualified charitable contributions, thus incentivizing broader philanthropic participation.⁴

5. Corporate and Energy-Related Measures

Corporate tax relief is expanded through the reintroduction of 100% bonus depreciation and targeted tax incentives for semiconductor manufacturing. Simultaneously, the legislation phases out key clean energy subsidies enacted under the Inflation Reduction Act, prioritizing fossil fuel investments and infrastructure.⁵

6. National Security and Trade Adjustments

The OBBBA includes provisions for increased defense spending and border enforcement, allocating $150 billion to each. Additionally, the bill introduces new tariffs and a 1% tax on international remittances.⁶

Distributional Effects: Beneficiaries and Those Adversely Affected

Primary Beneficiaries:

• High-income taxpayers, particularly in high-tax states, benefit from the SALT cap increase and the preservation of reduced tax rates.

• Senior citizens, who gain from enhanced deductions and tax-free treatment of Social Security benefits.

• Corporations and large businesses, which enjoy renewed tax incentives and regulatory relief.

Groups Potentially Adversely Affected:

• Low-income individuals, due to reductions in Medicaid funding (12–18%) and the imposition of work requirements for Supplemental Nutrition Assistance Program (SNAP) recipients, potentially disqualifying 10–17 million individuals.

• Clean energy developers, as tax credits for renewable energy are curtailed.

• Higher education institutions with large endowments, which face new taxation measures.

Fiscal Outlook and Policy Implications

According to the Congressional Budget Office, the OBBBA is projected to increase the national debt by approximately $3.5 trillion over the next decade. Federal revenue losses are estimated between $3 and $4.5 trillion, while the number of uninsured Americans is expected to rise by roughly 11.8 million.⁷

Conclusion

The One Big Beautiful Bill Act is emblematic of the Trump administration’s policy priorities: tax relief for individuals and corporations, reduced federal social spending, and enhanced investment in defense and fossil fuel industries. While proponents highlight economic stimulation and tax certainty, critics raise concerns over regressive impacts, environmental setbacks, and long-term fiscal sustainability. As implementation unfolds, policymakers and taxpayers alike will closely monitor its economic and social consequences.

Sources

1: https://www.mayerbrown.com/en/insights/publications/2025/07/one-big-beautiful-billact-introduces-significant-domestic-and-international-tax-changes

2: https://bipartisanpolicy.org/explainer/the-2025-tax-bill-additional-6000-deduction-forseniors-simplified/

3: https://www.kiplinger.com/taxes/extra-standard-deduction-age-65-and-older

4: https://www.fidelitycharitable.org/articles/obbb-tax-reform.html

5: https://frostbrowntodd.com/one-big-beautiful-bill-act-cuts-the-powerphase%E2%80%91outs-foreign%E2%80%91entity-restrictions-and-domestic-content-inclean%E2%80%91energycredits/#:~:text=Introduction,orders%20as%20they%20are%20published.

6: https://armedservices.house.gov/legislation/one-big-beautiful-bill.htm

7: https://am.jpmorgan.com/wr/en/asset-management/liq/insights/marketinsights/market-updates/on-the-minds-of-investors/unpacking-the-obbbas-impact-onthe-us-economy-fiscal-health-and-more/

June Market Update

Wed, 16 Jul 2025 01:02:43 GMT

Market Indices Performance

June Recap

The S&P 500 rose 5.1% in June , hitting a new all-time high late in the month to close out a volatile first half of the year. ¹ The recovery was sharp and sudden as investors shrugged off the trade war worries and geopolitical concerns that fueled the decline (see figure 1). Longer-term bond yields dropped as investors tempered expectations of increased inflation. ²

Inflation , measured by the Consumer Price Index (CPI), rose 2.7% year-over-year, marking the 51 ^st consecutive month above the Federal Reserve’s 2% target. ³ The labor market remained strong: employers added 147k jobs and the unemployment rate ticked down to 4.1% . The unemployment rate has remained below 4.5% since 2021. ⁴ Job openings totaled 7.8m, pushing the ratio of openings to unemployed people solidly back above 1. ⁵

Current Developments (July)

President Trump recently announced 30% tariffs on the European Union and Mexico starting August 1. ⁶ While this decision could have major implications for the economy and the market, it appears that tariff headlines have lost their shock value as frequent deadline extensions and few tangible effects have made investors calloused to the news.

President Trump signed the “One Big Beautiful Bill” into law over the 4 ^th of July weekend. It permanently extends the individual income tax brackets set in 2017, allows deductions for tips, overtime pay, and those over 65 years old, and establishes “Trump accounts” - savings accounts for children born between 2025 and 2028, each initially funded with a $1,000 government contribution into a selected investment. ⁷

The Future

Analysts expect 5% earnings growth for the S&P 500 in Q2 and 9% for the full year. ⁸ Both Wall Street and the Federal Reserve still anticipate two interest rate cuts in 2025 . ^9,10 President Trump has continued to call for the Federal Reserve to cut rates to lower borrowing costs for consumers and refinancing costs for the Treasury. Potential tariff-driven inflation and a historically strong labor market have given the Fed pause on cutting, even though inflation has been trending lower (see figure 2).

July is historically the best month of the year for stocks. ¹¹ After negative GDP growth in Q1, second quarter GDP growth is forecasted to be positive . ¹² President Trump’s reciprocal tariff pause initially set to expire on July 9 has been extended to August 1. ⁶