Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that Congress has handed extremely anticipated tax laws, making ‘everlasting’ (i.e., with no scheduled sundown) the decrease particular person tax charges enacted as a part of the 2017 Tax Cuts and Jobs Act (TCJA), rising the property and reward tax exemption (which was scheduled to revert to roughly $7.14 million subsequent 12 months) to $15 million in 2026, and elevating the restrict on the deductibility of State And Native Taxes (SALT) to $40,000 (although this measure is scheduled to revert to the present $10,000 in 2030 and begins to part out for customers with greater than $500,000 of earnings), amongst many different measures. Which can in the end present larger tax planning certainty to advisors and their shoppers for 2025 and past (and keep away from the year-end rush they confronted with the late-December passage of TCJA in 2017).
Additionally in trade information this week:
- A latest survey of wealth administration agency leaders discovered that whereas respondents had been assured of their talents, many are dealing with challenges discovering the best folks for his or her groups and creating time to help them
- RIAs are being focused by a phishing assault impersonating an SEC official, highlighting the worth of vigilance and employees coaching within the face of assorted cybersecurity dangers
From there, we’ve got a number of articles on retirement planning:
- How population-wide life expectancy statistics can present deceptive estimates on the subject of selecting a selected consumer’s life expectancy for monetary planning functions
- The cognitive biases that may lead shoppers to underestimate their life expectancy and have an effect on their monetary decision-making
- How monetary advisors can add worth for consumer {couples} by assessing each longevity and mortality danger when creating retirement earnings plans
We even have a lot of articles on apply administration:
- Why taking a proactive strategy can assist an aspiring successor present a agency founder how they are often an efficient companion in serving to the agency develop into the longer term
- A glance into the vary of financing choices accessible for advisors trying to purchase an fairness stake of their agency with out making a big, lump-sum cost
- How some founders are turning to “artificial fairness” applications to create incentives to draw and retain expertise with out giving up management over the agency
We wrap up with three remaining articles, all about (monetary) independence:
- Whereas many purchasers may say they’ve a purpose of economic independence, this idea can imply very various things to completely different people (and might change over time)
- Why pursuing an excessive model of economic independence might result in a much less satisfying and significant way of life, and the way different approaches can present a way of freedom with out having to make a few of these sacrifices
- How one can domesticate a way of independence that goes past monetary means and extends to the power to dwell life on one’s personal phrases
Benefit from the ‘gentle’ studying!