Takeaways: 1. No major changes for 2025 so far 2. IRA contributions remain the same, 401(k) and SEP IRA have had increases. 3. Most likely taxes on Social Security benefits will remain. Hopefully they will inflate the brackets to more current levels. They haven't been inflated since the 1980's. 4. If you own rental properties, be sure to deduct depreciation and recapture it when you sell. 5. Tax planning strategies. Tax loss harvesting on non-IRA accounts and Roth conversions to help lower taxes for the future.

1. There are 3 potential ways to balance the US Budget and start to pay off debt. 2. 2. Soon the U.S. will be spending more on interest on our than we will spend on any other program. 3. 3. The math doesn't work out to only raise taxes on the wealthy. 4. 4. Taxes will increase for everyone. 5. 5. Tax-Free accounts will become more important in the future.

1. Only about 25% of Americans are able to reach this goal. 2. A traditional balanced portfolio no longer works according to JPMorgan and Goldman Sachs studies. 3. If you add in guarantees to your portfolio, you can still take the 4% or more and have your money last your retirement. 4. The adviser you speak with matters. Some big firms limit what their advisors can do because they don't make money off certain products.