There is a lot to cover in this episode, including new legislation that could impact your retirement.

Plus, 6 More Retirement Financial Myths to Avoid, and a listener with substantial assets who wants to know how to pay for a new car.

The OBBB

The One Big Beautiful Bill became public law on July 4, 2025. Included are:

• Lower Tax Brackets Are Now Permanent
• Larger Standard Deduction
• New Senior Bonus Deduction (2025–2028)
• Above-the-Line Charitable Deduction (2026–2028)
• Expanded SALT Deduction
• ACA Subsidy Planning Alert
• New Car Deduction

If you're a client of ours - we'll go into these changes in detail during our year-end appointments. If you really like the numbers, we'll do a before & after to calculate your specific tax savings impacted by these changes.

Article: 6 More Retirement Financial Myths to Avoid

This article by Sheryl Rowling from Morningstar addresses these six myths:

1. You Should Never Make a Big Splurge in Retirement 2. It's Best to Give to Charity After You Die 3. Spending Less Is Always Better 4. You Must Pay Off Your Mortgage Before Retiring 5. Reverse Mortgages Are a Last Resort 6. Your Biggest Financial Risk Is a Market Crash

Resource:6 More Retirement Financial Myths to Avoid by Sheryl Rowling

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