Long Story Short

Andy and Adam tackle two critical topics every investor should understand: the new tax legislation and why chasing dividend income might be costing you money.

Fresh off Adam's solo deep dive into the 900-page tax bill, they break down the key changes that matter most to clients. Then Andy explains why he gets fired up about dividend-focused investing strategies and shares a real client example that illustrates the problem.

Adam & Andy close out the episode with a key question around retirement: How do you know when you're ready to retire? Adam breaks down retirement readiness into three essential questions that go far beyond just having enough money saved.

Whether you're wondering if you're ready to retire or trying to understand the latest tax changes, this episode provides practical insights for making better financial decisions.

We cover:

• The three biggest tax changes from the new legislation
• Why dividend income isn't the same as portfolio income
• The hidden costs of covered call "premium income" funds
• How to create flexibility in your retirement income strategy
• The three-question framework for retirement readiness: Should I, Can I, How do I retire?
• Why retirement planning goes beyond just having enough money saved

⏱️ Timestamps:

• (00:00) Opening discussion on tax bill complexity
• (02:42) Main takeaways from the new tax legislation
• (08:19) Why dividend-focused investing drives Andy crazy
• (15:49) The math behind dividends vs. price appreciation
• (17:12) Real example of problematic "premium income" funds
• (21:09) The flexibility problem with income investing
• (28:44) Retirement readiness: Should I retire?
• (33:12) Retirement readiness: Can I retire?
• (36:47) Retirement readiness: How do I retire?

#RetirementPlanning #RetirementReadiness #TaxPlanning #DividendInvesting #WealthManagement

Resources:

Follow Burney Wealth Management on LinkedIn

Follow Adam Newman on Linkedin

Follow Andy Pratt on LinkedIn

Adam’s article about the One Big Beautiful Bill Act

The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.

The One Big Beautiful Bill Act just became law, and at 900 pages, it's longer than War and Peace. Adam Newman breaks down the key provisions that matter most to high net worth families.

We cover:

• How the new tax law compares to previous major legislation
• Permanent extension of 2017 tax cuts and current income brackets
• The expanded SALT deduction limit and income phase-outs
• New charitable giving rules for itemizers and non-itemizers
• The additional $6,000 deduction for taxpayers over 65
• Increased estate and gift tax exemptions
• Why annual tax planning is more important than ever

⏱️ Timestamps:

• (0:33) Introduction & New Tax Bill Signed Into Law
• (2:08) Tax Legislation in Recent History
• (4:52) Individual Income Tax Brackets Maintained
• (6:52) Increased SALT Deduction Limit
• (10:49) Charitable Giving Deduction Changes
• (15:32) Additional $6,000 Deduction for Taxpayers Over 65
• (21:22) Larger Lifetime Estate and Gift Tax Exemption
• (25:07) Next Steps: The Importance of Annual Tax Planning

#WealthManagement #TaxPlanning #EstatePlanning #RetirementPlanning #OBBBA

The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.

What's really in the new tax bill making its way through Congress? And should you adjust your portfolio when markets feel "too good to be true"?

In episode 3 of Long Story Short, Andy Pratt and Adam Newman break down the tax legislation everyone's talking about and tackle a question they get constantly: When should you actually change your risk level?

We cover:

• Key provisions in the House and Senate tax bills (and what's likely to survive)
• Why the estate tax exemption is going up, not down
• The psychology behind portfolio risk decisions
• How to think about deficits and government debt as an investor
• Why market breadth matters more than you think
• Iran, Israel, and the latest "crisis" markets are ignoring

⏱️ Timestamps:

• (0:00) Summer songs and small talk
• (3:30) Why we're starting this podcast
• (4:00) Tax bill status: House vs Senate versions
• (7:00) Estate tax exemptions rising to $15 million per person
• (8:30) State and local tax deduction changes
• (11:00) Should you worry about government deficits?
• (16:00) Middle East tensions and market reactions
• (29:00) The psychology of risk: When to actually adjust your portfolio
• (34:00) Why stress makes you dumber (literally)
• (35:00) Summer playlist recommendations

#WealthManagement #TaxPlanning #PortfolioRisk #MarketAnalysis

The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.

How should you react when headlines scream about the next market crisis?

In episode 2 of Long Story Short, Andy Pratt and Adam Newman tackle the questions they hear most from clients: Should I worry about what's happening in the Middle East? Are tariffs going to tank my portfolio? Is this market rally getting too frothy?

Drawing from their daily conversations with investors, Andy and Adam provide historical context and practical perspective for today's headlines.

We cover:

• Why geopolitical events rarely derail markets long-term (with data going back decades)
• The real story behind the April tariff selloff and recovery
• How investor psychology has changed since the 2008 financial crisis
• Why corrections happen as frequently as your birthday
• The difference between trading noise and actual investment signals
• Why pessimism sounds smart but optimism wins in investing

⏱️ Timestamps:

• (0:00) Welcome & favorite TV pilots (yes, really)
• (2:41) Why we're starting this podcast
• (6:22) Israel, Iran, and how markets handle geopolitical risk
• (8:15 Historical data: What happens one year after major world events
• (11:30) The psychology of buying the dip
• (16:24) From 350 to 6,000: The S&P's four-decade climb
• (18:22) Tariffs: From panic to resolution
• (23:04) Why market timing is nearly impossible
• (27:25) Invest like an optimist, save like a pessimist

This episode gives you the framework to think clearly about what actually matters for long-term wealth building.

#WealthManagement #MarketVolatility #Geopolitics #InvestmentStrategy

The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.

What does it take to build a nearly $3 billion investment firm over four decades?

In our very first episode of Long Story Short, we sit down with Lowell Pratt, President of Burney Company, for an intimate conversation about his 40-year journey from IT support to firm leadership.

We cover:

• How Burney Company became a beta firm for Advent Software in the 1980s
• The military culture that shaped the firm's foundation and still drives it today
• Lessons from legendary mentors Jack Burney and Ted Rosenberg
• Why performance still matters in an industry that's given up on beating the market
• The transition from managing a handful of $50K accounts to overseeing nearly $3 billion
• How AI represents both the biggest opportunity and risk facing advisory firms

⏱️ Timestamps:

• (0:00) Welcome & introducing Lowell Pratt
• (1:35) How Lowell joined Burney as the original IT guy
• (2:48) First impressions: A firm beating the S&P by 2-to-1
• (4:48) Mentorship from Jack Burney and Ted Rosenberg
• (6:06) Military culture and "truly magnificent" leadership
• (10:14) The transition to owning client relationships
• (13:24) Advice for younger advisors: Become an owner, keep the passion
• (15:27) 50 years of change: From paper records to $3 billion
• (18:55) What clients really want: Peace of mind above all
• (21:17) Looking ahead: AI as the next great disruption
• (23:01) Core values that will never change

#WealthManagement #InvestmentAdvisors #FinancialPlanning #BurneyWealth

The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.