The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, representing the most comprehensive tax legislation since the Tax Cuts and Jobs Act (TCJA) was enacted in 2017.
How quickly time passes! My forty years at West Financial Services has been engaging, grounding and a joy. Forty years of spending my days with intelligent, passionate, accomplished and diverse people is hardly work. But change is an inevitable part of life. Beginning in July, I will be shifting to a part-time schedule.
The main concern for markets in the coming weeks is negotiations on the debt ceiling. Recently, Treasury Secretary Janet Yellen raised the stakes when she moved up her estimate of a possible default to June 1st. As that date approaches, investors are becoming increasingly concerned with the debt ceiling debate, and the ramifications should the U.S. government be in default.
On December 29, 2022, as part of an omnibus spending package, the bill known as SECURE Act 2.0 was signed into law. The original SECURE Act, passed in December 2019, included numerous changes to the retirement planning landscape, including an increase in the age when Required Minimum Distributions (“RMDs”) begin, limiting “stretch IRAs” to just 10 years instead of over the life expectancy of the beneficiary, and eliminating the age cap for IRA contributions by those who work beyond RMD age.
While fall has arrived, client conversations suggest that most are ready for 2022 to be over. Disappointment and uncertainty have been key themes recently, particularly with elevated inflation and geopolitical events dominating the headlines. While equity markets rallied heading into August, sentiment quickly reversed and the S&P 500 is now back to the lows seen in June.
While the weather outside improved last week, investor sentiment remained gloomy.
Brian J. Horan, Relationship Manager at West Financial Services, Inc. in McLean, Virginia, recently earned the Certified Private Wealth Advisor® certification, which is an advanced professional certification for advisors who provide the breadth of specialized skills required to meet the needs of high-net-worth clients.
The only constant in life is change.” — Heraclitus
U.S. businesses and households have faced challenges with creating new routines and altering daily operations after realizing the dire effects of COVID-19. Whether working from home, shopping online, or interacting with the new social distancing rules, life in America as we know it has changed. But the American resolve is strong and ingenuity is thriving. From online classrooms, fundraisers for the affected, client video conferences, virtual happy hours, birthday parades, and neighborhood teddy bear hunts, it seems nothing can keep Americans
First and foremost, all of us here at West Financial Services hope you and your family are safe and healthy.
I was walking down the hall at work and one of my co-workers, who was watching the stock market drop, asked me if they should still contribute to their 401(k).
