There’s an old parable about a frog placed in a pot of cool water. If the water is heated gradually, the frog fails to notice the rising temperature until it’s too late. The story, though biologically inaccurate, carries an important message: small, gradual changes often go unnoticed until they reach a critical point.
In many ways, our nation’s growing debt has followed a similar pattern. Over the past several decades, both political parties have contributed to expanding government spending and reducing fiscal restraint. The result is a national debt now exceeding $38 trillion—a number so large it’s easy to become numb to its meaning. Yet, like the water in that pot, the temperature continues to rise.
The holiday season brings ample opportunities for consumers to spend their cash on a variety of gifts, but with pressure building on people’s budgets from tariffs to inflation, Americans’ spending is expected to slow this year.
The National Retail Federation forecasts Americans plan to spend around $890.49 per person on holiday gifts, food, and decor, which is less than last year, when U.S. shoppers spent a record $901.99, per person.
From maximizing tax-advantaged savings accounts to donating to charity, here are strategic tax moves to consider before year-end.
Tax Day may still be months away, but there are plenty of tax-planning strategies you can consider before then to help manage your tax bill. In fact, certain tasks should not—or in some cases cannot—wait until next year, lest you miss out on potentially important tax-saving opportunities.
Here are the top strategies to consider before December 31—and those you can ponder until Tax Day.
With characteristic directness, President Trump has expressed dissatisfaction in recent weeks with the job performance of Federal Reserve Chair Jerome Powell. Serious or not, this kind of talk has investors speculating on what’s next for the U.S. central bank and what a changing of the guard could mean for the economy and markets — whether that change comes at the end of Powell’s term as chair in May 2026 or sooner.
Regardless of when Powell leaves, it makes sense for investors to explore the potential scenarios for his eventual successor and how new leadership could shape U.S. monetary policy, particularly the Fed’s ongoing fight against inflation.
Now that President Trump’s One Big Beautiful Bill Act has been signed into law, investors are turning their attention to the impact that the massive tax and spending legislation could have on the U.S. economy and financial markets.
Among many other provisions, the law permanently extends large tax cuts initially adopted as part of the Tax Cuts and Jobs Act of 2017, reduces taxes on tips and overtime pay, and makes deep cuts to Medicaid, food assistance and other social safety net programs. The legislation, which encompasses much of President Trump’s domestic agenda, passed last week by a narrow margin of one vote in the Senate, and 218 to 214 in the House of Representatives. It was signed into law by President Trump on July 4.
While our investment professionals continue to evaluate the law’s investment implications, here are some initial views on the macroeconomic and market impacts.
Who qualifies? How much is it? Does it affect Social Security?
Millions of taxpayers ages 65 and older got a big tax break in the “One Big Beautiful Bill”: a new $6,000 tax deduction, effective this year.
The deduction, which AARP supported, will reduce tax bills for many older Americans, starting with their next tax filing and running through the 2028 tax year, after which it is set to expire.
Applying the new deduction, though, may come with some complexity.
There are many ways to describe the outlook for the U.S. and world economies. But at the midpoint of 2025, one word has risen to the top of the lexicon: uncertainty.
No matter how meticulously you’ve planned for retirement, if you don’t have long-term-care insurance, a catastrophic illness could clean out your savings.
Legislation passed by Republicans in the House and now being considered in the Senate would increase the U.S. debt by more than $3 trillion after interest and economic effects, according to estimates.
The “One Big Beautiful Bill Act” is a “debt bomb ticking,” one GOP lawmaker said.
The debt can have a big impact on household finances, by raising the cost of borrowing and reducing the value of investors’ bond holdings, according to economists.
The artificial intelligence (AI) hype cycle may be coming to an end. Technology giants and investors alike are enthusiastic about AI’s potential to drive productivity gains and transform the economy.
But certain resource constraints could prevent AI growth rates from meeting lofty expectations. Indeed, investors in recent months have begun to question how long it will take for the multibillion dollar investments in AI to translate to profit growth. But the bottlenecks might not be where you expect.
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Posted on November 17, 2025
Memo: The Parable of the Boiling Frog — and What It Teaches Us About the U.S. Deficit
by C. Todd Fry, CIMA(R), CFS
There’s an old parable about a frog placed in a pot of cool water. If the water is heated gradually, the frog fails to notice the rising temperature until it’s too late. The story, though biologically inaccurate, carries an important message: small, gradual changes often go unnoticed until they reach a critical point.
In many ways, our nation’s growing debt has followed a similar pattern. Over the past several decades, both political parties have contributed to expanding government spending and reducing fiscal restraint. The result is a national debt now exceeding $38 trillion—a number so large it’s easy to become numb to its meaning. Yet, like the water in that pot, the temperature continues to rise.
Read MoreLeave a Comment
Posted on November 17, 2025
Retail experts predict most shoppers will spend less this holiday
by J. Eric Rice, CFP(R), ChFC(R)
The holiday season brings ample opportunities for consumers to spend their cash on a variety of gifts, but with pressure building on people’s budgets from tariffs to inflation, Americans’ spending is expected to slow this year.
The National Retail Federation forecasts Americans plan to spend around $890.49 per person on holiday gifts, food, and decor, which is less than last year, when U.S. shoppers spent a record $901.99, per person.
Read MoreLeave a Comment
Posted on November 17, 2025
Tax-Saving Moves You Can Make Before Year-End
by J. Eric Rice, CFP(R), ChFC(R)
From maximizing tax-advantaged savings accounts to donating to charity, here are strategic tax moves to consider before year-end.
Tax Day may still be months away, but there are plenty of tax-planning strategies you can consider before then to help manage your tax bill. In fact, certain tasks should not—or in some cases cannot—wait until next year, lest you miss out on potentially important tax-saving opportunities.
Here are the top strategies to consider before December 31—and those you can ponder until Tax Day.
Read MoreLeave a Comment
Posted on October 6, 2025
Envisioning a post-Powell Fed: What comes next?
by C. Todd Fry, CIMA(R), CFS
With characteristic directness, President Trump has expressed dissatisfaction in recent weeks with the job performance of Federal Reserve Chair Jerome Powell. Serious or not, this kind of talk has investors speculating on what’s next for the U.S. central bank and what a changing of the guard could mean for the economy and markets — whether that change comes at the end of Powell’s term as chair in May 2026 or sooner.
Regardless of when Powell leaves, it makes sense for investors to explore the potential scenarios for his eventual successor and how new leadership could shape U.S. monetary policy, particularly the Fed’s ongoing fight against inflation.
Read MoreLeave a Comment
Posted on October 6, 2025
4 views on one big beautiful bill
by J. Eric Rice, CFP(R), ChFC(R)
Now that President Trump’s One Big Beautiful Bill Act has been signed into law, investors are turning their attention to the impact that the massive tax and spending legislation could have on the U.S. economy and financial markets.
Among many other provisions, the law permanently extends large tax cuts initially adopted as part of the Tax Cuts and Jobs Act of 2017, reduces taxes on tips and overtime pay, and makes deep cuts to Medicaid, food assistance and other social safety net programs. The legislation, which encompasses much of President Trump’s domestic agenda, passed last week by a narrow margin of one vote in the Senate, and 218 to 214 in the House of Representatives. It was signed into law by President Trump on July 4.
While our investment professionals continue to evaluate the law’s investment implications, here are some initial views on the macroeconomic and market impacts.
Read MoreLeave a Comment
Posted on October 6, 2025
What to Know About the New Tax Deduction for Older Adults
by J. Eric Rice, CFP(R), ChFC(R)
Who qualifies? How much is it? Does it affect Social Security?
Millions of taxpayers ages 65 and older got a big tax break in the “One Big Beautiful Bill”: a new $6,000 tax deduction, effective this year.
The deduction, which AARP supported, will reduce tax bills for many older Americans, starting with their next tax filing and running through the 2028 tax year, after which it is set to expire.
Applying the new deduction, though, may come with some complexity.
Read MoreLeave a Comment
Posted on June 12, 2025
Economic Outlook: Higher Uncertainty, Lower Growth
by C. Todd Fry, CIMA(R), CFS
There are many ways to describe the outlook for the U.S. and world economies. But at the midpoint of 2025, one word has risen to the top of the lexicon: uncertainty.
Leave a Comment
Posted on June 12, 2025
Four Tax-Friendly Ways to Pay for Long-Term Care Insurance
by J. Eric Rice, CFP(R), ChFC(R)
No matter how meticulously you’ve planned for retirement, if you don’t have long-term-care insurance, a catastrophic illness could clean out your savings.
Leave a Comment
Posted on June 12, 2025
‘Fantasy Math’ masks tax bill’s U.S. debt impact, GOP lawmaker said. What the Deficit Means for Your money.
by J. Eric Rice, CFP(R), ChFC(R)
Key Points
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Posted on May 13, 2025
4 AI Bottlenecks Could Bolster Old Economy Companies
by C. Todd Fry, CIMA(R), CFS
The artificial intelligence (AI) hype cycle may be coming to an end. Technology giants and investors alike are enthusiastic about AI’s potential to drive productivity gains and transform the economy.
But certain resource constraints could prevent AI growth rates from meeting lofty expectations. Indeed, investors in recent months have begun to question how long it will take for the multibillion dollar investments in AI to translate to profit growth. But the bottlenecks might not be where you expect.
Read More
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