CFP® Team Newsletter — October 2025
CFP® Team Newsletter — October 2025 Edition
The Market Lens
As summer winds down, markets remain focused on the Federal Reserve (Fed). At the Jackson Hole Symposium, Chair Jerome Powell signaled the Fed is ready to cut interest rates amid a cooling labor market and easing inflation pressures. Markets welcomed the message with a small-cap rally and lower Treasury yields, while the 10-year yield looks likely to stay range-bound despite political pressures.
Corporate America remains healthy. Second quarter GDP was revised higher to 3.3% annualized, and earnings continue to impress. The “Mag Seven” tech giants reported nearly 30% growth and boosted capital spending plans. Notably, investment in artificial intelligence could reach $500 billion next year and potentially $3–4 trillion by 2030, according to NVIDIA CEO Jensen Huang—an investment wave that could drive significant productivity gains.
Beyond the Balance Sheet
Washington made headlines this summer with passage of the One Big Beautiful Bill Act, a sweeping package of tax changes aimed at households and retirees. The legislation expands the standard deduction and raises estate and gift tax exemptions, creating planning opportunities for high-net-worth families. It also provides relief for working Americans by exempting up to $25,000 of qualified tip income from federal income tax, while extending similar tax breaks to overtime wages. Interest paid on personal vehicle loans will become deductible, easing the burden for households with auto financing. Rounding out the bill, the provisions for some seniors allow ages 65 and older to claim an additional deduction of $6,000 per individual and $12,000 for couples. Please contact our team to discuss how these provisions may apply to you and your financial planning.
Inside Legacy
It’s been an eventful summer here at Legacy Wealth Planning, both personally and professionally. Phil Mahoney, CFP® is excited to announce the creation of a dedicated financial planning team at Legacy Wealth Planning. Joining him are Nick Cohee, CFP® and Wendy Hammond, CFP®. The team will enhance capabilities now and continue delivering the personalized service and trusted advice clients have always valued.
Phil had trips to the Sheldon Antelope Refuge and Steamboat, CO. Nick hosted his annual mountain bike race at China Peak—a marquee event on the California Enduro Series. He and his wife also checked a box off the travel bucket list with a kids-free trip to Andorra. Wendy attended the annual LPL conference in San Diego, a great learning experience with lots of AI insights. Her next stop was a quick trip to Tucson, Arizona to see her sister graduate from University of Arizona with a Doctorate in Veterinary Medicine.
See you soon – and as always, Thank you for Your Business.
Phil, Nick, and Wendy | Legacy Wealth Planning | 775-850-2500 | www.lwpreno.com
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