ACCOUNTABLE UPDATE
"See Through"
The One Big Beautiful Bill Act (H.R. 1), a legislative behemoth recently passed in Washington, may have a humorous name, but its implications for investors, taxpayers, retirees, and business owners are far from insignificant.
This comprehensive package secures reduced tax rates, modifies healthcare and energy incentives, and restarts the estate planning process for wealthy families. Below, I’ll break down what matters—and how you might want to adjust your planning.
“I purchased an annuity from a financial planner and found out, after the fact, that what he sold me and I agreed to is not the same product that I purchased through him. He pre-filled the application and showed me where to sign. I feel foolish for not understanding how this annuity works.
I am disappointed that he presented himself as a fiduciary and told me this product would provide me guaranteed income, liquidity, and stock market returns. I now realize that the income guarantee, liquidity, and returns are not as straightforward as he described and appear to be costly versions of benefits I could have achieved with less complexity and lower fees. Do I have any recourse? Would hiring a new financial advisor help me figure out what to do?”
— Email from a prospective client
“I’m 62 years old, and my wife is 57. We both work full time. We have 401(k)s, three investment properties, our residential home, and enough cash to pay off our mortgage. We want to retire in five years. We’ve never worked with a financial advisor but are feeling a bit overwhelmed. We’re hoping to understand how you would approach the matter with us.”
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