On July 4 2025 the President signed into law an omnibus tax and budget package which Congress titled the One Big Beautiful Bill Act (OBBBA The legislation made key changes to several tax provisions as well as making permanent many of the provisions from 2017’s Tax Cuts and Jobs Act (TCJA that were set to expire at the end of 2025 Below is a summary of select tax law changes that impact…, Income Tax, Tax rates The OBBBA makes permanent several of the tax provisions from the 2017 TCJA that affect individuals These items will remain permanent going forward First individual income tax rates will remain permanently as provided in the table The OBBBA provides that the 10% and 12% brackets will get one additional year of inflation adjustments before the brackets thresholds are locked in Capital…, Tax type, Single, Married filing jointly, Ordinary income tax brackets ,     10% $0–$11925 $0–$23850 12% $11926–$48475 $23851–$96950 22% $48476–$103350 $96951–$206700 24% $103351–$197300 $206701–$394600 32% $197301–$250525 $394601–$501050 35% $250526–$626350 $501051–$751600 37% $626351+ $751601+, LT capital gains rates,     0% Up to $48350 Up to $96700 15% $48351–$533400 $96701–$600050 20% $533401+ $600051+, 38% net investment income tax, Kicks in above $200000 MAGI Kicks in above $250000 MAGI Tax deductions The OBBBA makes permanent the standard deduction increases first introduced in 2017’s TCJA For 2025 the standard deduction will be $15750 for single filers and $31500 for married couples filing jointly These amounts will be indexed for inflation annually 2 The personal exemption and the dependency exemption removed by the 2017…, AMT exemption phase-out, Permanently resets to the higher post‑TCJA levels—$500000 for single filers $1000000 for married filing jointly, Phase-out rate adjustment, Phase‑out accelerated exemption reduced by, 50%, of the amount by which AMTI exceeds threshold—rather than the prior 25% , Key impact, This phase-out is, twice as fast, as the prior rule (25% reduction so households with very high income will reach, zero exemption, more quickly under the AMT calculation   Estate tax The 2017 TCJA doubled the federal estate and gift tax exemption from a base amount of $5000000 to $10000000 With annual adjustments for inflation it reached $13990000 in 2025 However this increased exemption was set to revert back to pre-TCJA levels in 2026 The OBBBA has raised the federal exemption to $15000000 and it is now permanent The…

by Keith Gustafson CFA and Christopher M ONeill PhD CFA CFP, ®, FRM, ®, ChFC, ®, Executive Summary, This paper examines how different asset classes contribute to more efficient diversified portfolios using mean variance optimization (MVO The study evaluates portfolios across Conservative Moderate and Aggressive risk levels by progressively expanding the asset set, Key findings include, Equities |, Adding size and style diversification dramatically improves potential portfolio outcomes  While international options do improve diversification the allocations are below market weights in the global market, Fixed Income |, Bonds provide diversification and stability benefits with high yield bonds as a hybrid between equity and fixed income displaying meaningful allocations in the mid-level risk portfolios, Supplemental |, Non-core assets like REITs emerging market bonds TIPS and commodities play an important role in expanding the efficient frontier opportunity set with the latter assets providing key hedging characteristics during inflationary environments Overall the analysis confirms that diversification across asset classes produces better and more stable portfolio outcomes Mesirow’s Core Asset Class framework…

Planning for retirement has become increasingly complex Individuals have been forced to take on more personal responsibility for their future due to the elimination of pension plans rising health care expenses and the anticipated increase in longevity However recent studies show that Generation Z is the most optimistic — even the recent ups and downs in the economy , Generation Z is defined as individuals who were born between 1995 and 2010 This cohort is currently between the ages of 15 and 30 and represents approximately 21% of the US population 1 Generation Z is the most racially and ethnically diverse of all of the generation groups and  believe  in an American Dream that includes retirement The thoughts of having a career owning a home and reaching other…, What makes the Generation Z cohort different and more hopeful , What makes the Generation Z cohort different and more hopeful According to generational expert Dr Candace Steele Flippin it may be due to their upbringing Generation Z’ers are the children of Generations X and Y who tended to let their children figure things out whereas Generations X and Y were raised by Baby Boomers who took more of a helicopter parenting approach and guided more of their…, How can we help, Every generation should want the one that follows it to make progress Generation Z’s optimism may be what is needed to help overcome retirement challenges in a rapidly changing world However members of this group still need help  Although Generation Z values education and has a wealth of information at its fingertips many of its members struggle to understand where or how to begin learning about…, Published February 2025, 1 https//wwwstatistacom/statistics/797321/us-population-by-generation/ 2 Generation Z Insights How the Next Generation of Investors Approaches Retirement Saving and More Morningstar 2020 https//wwwmorningstarcom/lp/generation-z-insights 3  https//candacesteeleflippincom/

If you have ever applied for a mortgage or financed a car you may have noticed that sometimes the interest rate being charged for the loan is relatively low and sometimes it is much higher Why, Interest Rates, An interest rate is defined as the cost of borrowing In the simplest form an interest rate will be quoted as a percentage of the value of a loan For example a $100000 loan with an annual interest rate of 5% will cost the borrower $5000 annually Interest rates play a part in almost all areas of our daily financial lives whether it is borrowing money to purchase a home in the form of a mortgage or…, What is the Federal Funds Rate, In the United States the Central Bank is known as the Federal Reserve (the Fed The Fed is an autonomous and independent institution separate from the executive and judicial branches of government For this article it is important to make the distinction between Congress’ power versus that of the Fed Congress directs Fiscal Policy (Ie taxes and government spending whereas the Fed oversees Monetary…, Published March 2025,  

“A goal without a plan is just a wish” ¹, If you set a goal but don’t create a plan to achieve that goal how will you attain it, How will you hold yourself accountable, How will you track your progress along the way,  , Likely you won’t, You will continue to dream, Set your goals, Do you want to go to college   Do you want to start a business   Do you want to move across the country   Do you want to retire at age 65   These are not dreams these are attainable goals  Think for a moment about professional athletes   They were once children with big dreams   Those dreams became goals as they continued to excel in their respective sports and realized their potential   Yes they…, Create the roadmap to meeting your goals, Not everyone is a planner   If that is you you are not alone Lack of time lack of money or it’s too complex are just a few of the reasons individuals say they don’t have a financial plan written or not   However 92% of Americans say nothing makes them happier or more confident than when their finances are in order ³ Although planning may not be your favorite pastime it can help you get your…, Consider professional guidance, It is important to not only think about what it is you are trying to accomplish but to take it a step further and develop a written strategy to help you achieve your own unique objectives   Have the conversation ask yourself (and your partner to prioritize those goals and reach out to a trusted financial advisor to help create a written financial plan that can keep you on track   Having a plan…

Will Beam is a Managing Director of Acquisitions in Mesirow Institutional Real Estate Direct He is responsible for overseeing all aspects of the acquisition process including managing sourcing financial analysis due diligence financing and underwriting procedures Will has nearly 20 years and over $45 billion of real estate investment experience Prior to joining Mesirow in 2022 he served as a…