Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that Senate Republicans this week released their version of major tax legislation, following the passage of similar legislation in the House of Representatives last month. While the core of the Senate legislation largely mirrors that of House-proposed measures, including permanently extending (i.e., without a scheduled sunset) the lower individual tax rates enacted as part of the Tax Cuts and Jobs Act (TCJA), and maintaining the estate tax exemption at TCJA-prescribed levels (which would reach approximately $15 million in 2026), there are several differences between them (e.g., with the Senate maintaining the $10,000 cap on the deductibility of State And Local Taxes [SALT], whereas the House would raise the limit to $40,000, subject to certain income limitations). Further, disagreements on other parts of the legislation (e.g., cuts to Medicaid spending) could make passing the legislation by President Trump’s target of July 4th challenging (though legislators would still have time to do so before certain TCJA measures expire at the end of the year).
Also in industry news this week:
The SEC this week announced that it is axing several rules proposed during the tenure of previous Chair Gary Gensler that would have impacted RIAs, including the outsourcing and predictive data analytics rules and amendments to the Custody Rule
An SEC committee has recommended several reforms related to the use of mandatory arbitration agreements by RIAs, though stopped short of a call to restrict them outright
From there, we have several articles on retirement planning:
The latest report from the Social Security Board of Trustees reveals that while the date of exhaustion for the Social Security trust fund approaches, policymakers still have several options to shore up the system and prevent any reduction in benefits
Many Americans appear to be contemplating claiming Social Security benefits based on concerns about its sustainability and administration, offering an opportunity for advisors to provide a more complete picture of how the system operates
How delaying Social Security benefits can potentially generate a stronger return than a variety of other investment options
We also have a number of articles on client communication:
How using a ‘master list’ of goals can help reveal client goals that they might not have thought of on their own
How advisors can examine a client’s goals to assess how they might react during future bouts of market volatility
How advisors can encourage clients to become more flexible with their goals to help them avoid going down an unsustainable path if circumstances turn against them
We wrap up with three final articles, all about the modern workplace:
A recent study of Microsoft user data finds that workers receive an average of 117 emails and 153 instant messages daily (in addition to an onslaught of scheduled and impromptu meetings), creating distractions from focus work and often leading their workdays to bleed past regular business hours
Some research suggests that Americans’ commutes have gotten longer amidst an increase in hybrid workplace policies and rising home prices
Why employee stress is not just a matter of workplace wellness, but represents a business risk for firms as well
Enjoy the ‘light’ reading!
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